MANULIFE FINL CORP MFC
COM · Common Stock · CUSIP 56501R106 · ISIN CA56501R1064
- SectorFinancials
- IndustryLife Insurance
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($589.3m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $31.26. Options: 19 managers hold calls ($126.9m notional), 18 hold puts ($490.4m).
Trends to Q1 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 499 |
| Q4 2022 | 507 |
| Q1 2023 | 529 |
| Q2 2023 | 538 |
| Q3 2023 | 542 |
| Q4 2023 | 595 |
| Q1 2024 | 633 |
| Q2 2024 | 641 |
| Q3 2024 | 669 |
| Q4 2024 | 705 |
| Q1 2025 | 721 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q2 2023 | 243 | 201 |
| Q3 2023 | 234 | 211 |
| Q4 2023 | 244 | 213 |
| Q1 2024 | 278 | 237 |
| Q2 2024 | 262 | 259 |
| Q3 2024 | 268 | 257 |
| Q4 2024 | 257 | 296 |
| Q1 2025 | 309 | 278 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2024 | $197.3m | $538.7m | 2.73 |
| Q3 2024 | $145.9m | $504.2m | 3.46 |
| Q4 2024 | $131.9m | $664.0m | 5.03 |
| Q1 2025 | $126.9m | $490.4m | 3.86 |
Biggest buyers
| BANK OF MONTREAL /CAN/ | Added | +5.7m |
| GOLDMAN SACHS GROUP INC | Added | +4.8m |
| MORGAN STANLEY | Added | +4.6m |
| TD Asset Management Inc | Added | +2.3m |
| CANADA PENSION PLAN INVESTMENT BOARD | Added | +2.2m |
| JUPITER ASSET MANAGEMENT LTD | Added | +1.8m |
| 1832 Asset Management L.P. | Added | +1.7m |
| Bridgewater Associates, LP | Added | +1.2m |
| GEODE CAPITAL MANAGEMENT, LLC | Added | +1.1m |
| BESSEMER GROUP INC | Added | +996.7k |
Biggest sellers
| MACKENZIE FINANCIAL CORP | Reduced | -49.2m |
| JARISLOWSKY, FRASER Ltd | Reduced | -12.7m |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | Sold out | -5.1m |
| FIL Ltd | Reduced | -3.0m |
| Capital World Investors | Reduced | -2.7m |
| M&G PLC | Reduced | -2.2m |
| ROYAL BANK OF CANADA | Reduced | -1.9m |
| UBS Group AG | Reduced | -1.9m |
| MUFG Securities EMEA plc | Reduced | -1.4m |
| Beutel, Goodman & Co Ltd. | Reduced | -1.2m |
Biggest calls
| TORONTO DOMINION BANK | Reduced | $21.8m699.6k shares |
| NATIONAL BANK OF CANADA /FI/ | Added | $21.3m6.8k shares |
| MILLENNIUM MANAGEMENT LLC | Added | $16.7m372.8k shares |
| D. E. Shaw & Co., Inc. | Reduced | $10.9m350.0k shares |
| ROYAL BANK OF CANADA | Added | $10.0m322.2k shares |
| BANK OF MONTREAL /CAN/ | Unchanged | $9.3m300.0k shares |
| SIG North Trading, ULC | Reduced | $9.0m289.3k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $6.8m217.2k shares |
| JANE STREET GROUP, LLC | Reduced | $6.0m194.0k shares |
| CIBC WORLD MARKET INC. | New | $3.1m100.0k shares |
Biggest puts
| ROYAL BANK OF CANADA | Reduced | $89.5m2.9m shares |
| JANE STREET GROUP, LLC | Reduced | $74.7m2.4m shares |
| MILLENNIUM MANAGEMENT LLC | Reduced | $59.7m1.3m shares |
| SIG North Trading, ULC | Added | $57.1m1.8m shares |
| TORONTO DOMINION BANK | Reduced | $53.1m1.7m shares |
| CIBC WORLD MARKET INC. | Reduced | $50.6m1.6m shares |
| D. E. Shaw & Co., Inc. | Unchanged | $44.8m1.4m shares |
| DeepCurrents Investment Group LLC | Unchanged | $23.9m5.3k shares |
| NATIONAL BANK OF CANADA /FI/ | Reduced | $15.6m5.0k shares |
| BANK OF MONTREAL /CAN/ | Reduced | $9.3m300.0k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| BlackRock, Inc. 13G · institution filed 2026-07-29 | 6.5% |
Insider purchases and sales in Q1 2025
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
None reported in Q1 2025.
Holders, Q1 2025
| Manager | Shares | Change |
|---|---|---|
| ROYAL BANK OF CANADA 1.03% of their portfolio | 147.9m $4.6bn | Reduced -1.9m |
| VANGUARD GROUP INC 0.04% of their portfolio | 74.3m $2.3bn | Added +369.6k |
| BANK OF MONTREAL /CAN/ 0.83% of their portfolio | 50.1m $1.6bn | Added +5.7m |
| TD Asset Management Inc 1.06% of their portfolio | 37.1m $1.2bn | Added +2.3m |
| FIL Ltd 1.08% of their portfolio | 36.6m $1.1bn | Reduced -3.0m |
| NATIONAL BANK OF CANADA /FI/ 0.99% of their portfolio | 27.0m $842.0m | Reduced -218.9k |
| MACKENZIE FINANCIAL CORP 1.09% of their portfolio | 24.7m $768.7m | Reduced -49.2m |
| 1832 Asset Management L.P. 1.45% of their portfolio | 24.4m $760.9m | Added +1.7m |
| CIBC WORLD MARKET INC. 1.55% of their portfolio | 21.8m $680.4m | Added +124.9k |
| NORGES BANK 0.09% of their portfolio | 21.3m $662.5m | Reduced -82.0k |
| TORONTO DOMINION BANK 1.55% of their portfolio | 19.4m $605.0m | Added +38.9k |
| CIBC Asset Management Inc 2.02% of their portfolio | 19.4m $607.4m | Reduced -483.7k |
| BANK OF NOVA SCOTIA 0.98% of their portfolio | 14.0m $436.0m | Added +937.8k |
| MORGAN STANLEY 0.03% of their portfolio | 12.6m $392.1m | Added +4.6m |
| GEODE CAPITAL MANAGEMENT, LLC 0.03% of their portfolio | 11.7m $372.4m | Added +1.1m |
| Connor, Clark & Lunn Investment Management Ltd. 1.56% of their portfolio | 11.4m $356.7m | Added +112.8k |
| Beutel, Goodman & Co Ltd. 2.04% of their portfolio | 11.4m $354.6m | Reduced -1.2m |
| Legal & General Group Plc 0.09% of their portfolio | 10.9m $339.8m | Added +36.4k |
| SCOTIA CAPITAL INC. 1.78% of their portfolio | 10.7m $332.7m | Reduced -146.4k |
| Federation des caisses Desjardins du Quebec 1.54% of their portfolio | 10.0m $310.3m | Reduced -95.8k |
| CANADA PENSION PLAN INVESTMENT BOARD 0.29% of their portfolio | 9.7m $300.9m | Added +2.2m |
| JPMORGAN CHASE & CO 0.02% of their portfolio | 9.5m $296.0m | Added +521.5k |
| GOLDMAN SACHS GROUP INC 0.05% of their portfolio | 8.4m $263.0m | Added +4.8m |
| WELLS FARGO & COMPANY/MN 0.06% of their portfolio | 8.3m $258.4m | Reduced -303.5k |
| Harding Loevner LP 1.77% of their portfolio | 7.4m $230.8m | Reduced -377.7k |
| DIMENSIONAL FUND ADVISORS LP 0.05% of their portfolio | 7.0m $216.9m | Added +136.9k |
| TD Waterhouse Canada Inc. 1.78% of their portfolio | 6.9m $217.1m | Reduced -157.0k |
| HSBC HOLDINGS PLC 0.14% of their portfolio | 6.5m $203.2m | Added +176.9k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.07% of their portfolio | 6.4m $198.8m | Added +239.9k |
| LETKO, BROSSEAU & ASSOCIATES INC 4.16% of their portfolio | 6.3m $195.5m | Reduced -1.1m |
| Amundi 0.07% of their portfolio | 5.7m $197.6m | Reduced -645.6k |
| AustralianSuper Pty Ltd 0.87% of their portfolio | 5.0m $154.6m | Unchanged |
| Swiss National Bank 0.11% of their portfolio | 4.9m $153.4m | Reduced -186.3k |
| Alberta Investment Management Corp 1.03% of their portfolio | 4.8m $151.0m | Reduced -49.8k |
| Cardinal Capital Management, Inc. 5.12% of their portfolio | 4.8m $150.7m | Reduced -88.1k |
| Capital World Investors 0.02% of their portfolio | 4.7m $147.0m | Reduced -2.7m |
| BANK OF AMERICA CORP /DE/ 0.01% of their portfolio | 4.3m $132.5m | Added +461.6k |
| Grantham, Mayo, Van Otterloo & Co. LLC 0.36% of their portfolio | 3.7m $115.7m | Reduced -138.3k |
| LORD, ABBETT & CO. LLC 0.40% of their portfolio | 3.6m $111.7m | Reduced -2.6k |
| JARISLOWSKY, FRASER Ltd 0.67% of their portfolio | 3.4m $107.3m | Reduced -12.7m |
| CANADA LIFE ASSURANCE Co 0.18% of their portfolio | 3.3m $101.5m | Reduced -22.3k |
| Bridgewater Associates, LP 0.46% of their portfolio | 3.2m $99.6m | Added +1.2m |
| DEUTSCHE BANK AG\ 0.04% of their portfolio | 2.8m $88.4m | Added +228.0k |
| UBS Group AG 0.02% of their portfolio | 2.7m $85.4m | Reduced -1.9m |
| MUFG SECURITIES (CANADA), LTD. 2.85% of their portfolio | 2.6m $81.9m | Reduced -45.9k |
| INTACT INVESTMENT MANAGEMENT INC. 2.70% of their portfolio | 2.5m $78.8m | Added +370.6k |
| AGF MANAGEMENT LTD 0.48% of their portfolio | 2.4m $90.6m | Added +947.1k |
| Invesco Ltd. 0.01% of their portfolio | 2.4m $74.1m | Reduced -785.1k |
| AVIVA PLC 0.18% of their portfolio | 2.3m $72.9m | Added +332.2k |
| NORTHERN TRUST CORP 0.01% of their portfolio | 2.2m $69.3m | Added +135.5k |
| DekaBank Deutsche Girozentrale 0.12% of their portfolio | 2.1m $63.7m | Added +31.0k |
| JUPITER ASSET MANAGEMENT LTD 0.60% of their portfolio | 2.0m $63.1m | Added +1.8m |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.02% of their portfolio | 1.9m $60.4m | Reduced -86.9k |
| FRANKLIN RESOURCES INC 0.02% of their portfolio | 1.9m $58.8m | Reduced -260.1k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.06% of their portfolio | 1.9m $58.6m | Reduced -76.4k |
| Man Group plc 0.17% of their portfolio | 1.8m $56.9m | Added +428.5k |
| Bank of New York Mellon Corp 0.01% of their portfolio | 1.8m $55.3m | Reduced -34.1k |
| BlackRock, Inc. 0.00% of their portfolio | 1.7m $53.7m | Reduced -271.8k |
| Hillsdale Investment Management Inc. 2.73% of their portfolio | 1.7m $53.7m | Reduced -822.9k |
| Russell Investments Group, Ltd. 0.07% of their portfolio | 1.6m $51.0m | Reduced -9.6k |
| Korea Investment CORP 0.12% of their portfolio | 1.6m $50.8m | Added +166.6k |
| Zurcher Kantonalbank (Zurich Cantonalbank) 0.13% of their portfolio | 1.5m $45.6m | Added +54.7k |
| BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 0.28% of their portfolio | 1.4m $44.7m | Added +270.5k |
| Skandinaviska Enskilda Banken AB (publ) 0.22% of their portfolio | 1.4m $43.8m | Added +13.9k |
| NEUBERGER BERMAN GROUP LLC 0.04% of their portfolio | 1.4m $43.6m | Added +33.5k |
| Nuveen, LLC 0.01% of their portfolio | 1.4m $43.4m | First filing |
| Allianz Asset Management GmbH 0.06% of their portfolio | 1.4m $42.9m | Reduced -483.6k |
| Scheer, Rowlett & Associates Investment Management Ltd. 3.12% of their portfolio | 1.4m $42.1m | Added +39.1k |
| Addenda Capital Inc. 2.23% of their portfolio | 1.3m $60.2m | Reduced -80.1k |
| TODD ASSET MANAGEMENT LLC 0.86% of their portfolio | 1.2m $36.5m | Added +188.2k |
| BARCLAYS PLC 0.02% of their portfolio | 1.1m $34.1m | Added +315.2k |
| BESSEMER GROUP INC 0.06% of their portfolio | 1.1m $33.9m | Added +996.7k |
| State of Tennessee, Department of Treasury 0.12% of their portfolio | 1.0m $31.9m | Added +3.4k |
| Waratah Capital Advisors Ltd. 2.14% of their portfolio | 1.0m $31.4m | Reduced -690.3k |
| ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio | 998.1k $31.1m | Reduced -70.3k |
| MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd 3.79% of their portfolio | 957.7k $29.8m | Reduced -195.6k |
| APG Asset Management N.V. 0.09% of their portfolio | 956.1k $27.6m | Reduced -15.9k |
| O'SHAUGHNESSY ASSET MANAGEMENT, LLC 0.23% of their portfolio | 930.8k $29.0m | Reduced -177.6k |
| GUARDIAN CAPITAL LP 1.11% of their portfolio | 903.7k $28.2m | Reduced -175.6k |
| Achmea Investment Management B.V. 0.40% of their portfolio | 889.8k $27.7m | Added +37.2k |
| CITIGROUP INC 0.02% of their portfolio | 837.0k $26.1m | Reduced -298.8k |
| SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC 0.43% of their portfolio | 830.8k $25.9m | Reduced -43.9k |
| MILLENNIUM MANAGEMENT LLC 0.03% of their portfolio | 825.7k $25.7m | Reduced -148.5k |
| AMERICAN CENTURY COMPANIES INC 0.02% of their portfolio | 819.5k $25.5m | Reduced -174.6k |
| AXA S.A. 0.08% of their portfolio | 794.3k $24.7m | Added +174.9k |
| TWO SIGMA INVESTMENTS, LP 0.05% of their portfolio | 790.1k $24.6m | New |
| BANK OF NOVA SCOTIA TRUST CO 2.59% of their portfolio | 780.7k $24.3m | Reduced -23.0k |
| Focus Partners Wealth 0.06% of their portfolio | 758.4k $23.6m | Reduced -777.7k |
| Pictet Asset Management Holding SA 0.03% of their portfolio | 734.1k $22.9m | Reduced -3.7k |
| TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY 0.21% of their portfolio | 733.2k $22.8m | Added +111.5k |
| WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio | 708.0k $22.1m | Added +55.3k |
| MUFG Securities EMEA plc 0.81% of their portfolio | 700.0k $31.4m | Reduced -1.4m |
| Galibier Capital Management Ltd. 6.76% of their portfolio | 695.2k $21.7m | Reduced -86.4k |
| Qube Research & Technologies Ltd 0.03% of their portfolio | 686.0k $21.4m | Reduced -117.5k |
| Mn Services Vermogensbeheer B.V. 0.16% of their portfolio | 656.9k $20.5m | Reduced -56.7k |
| Mitsubishi UFJ Trust & Banking Corp 0.05% of their portfolio | 646.1k $20.2m | Reduced -13.2k |
| ACADIAN ASSET MANAGEMENT LLC 0.06% of their portfolio | 631.5k $19.7m | Reduced -667.2k |
| Dixon Mitchell Investment Counsel Inc. 0.85% of their portfolio | 601.9k $18.8m | Added +42.0k |
| CANERECTOR INC 0.21% of their portfolio | 600.0k $269.0k | Unchanged |
| JONES FINANCIAL COMPANIES LLLP 0.02% of their portfolio | 599.5k $18.4m | Added +146.3k |