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 ($611.3m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $32.03. Options: 19 managers hold calls ($183.9m notional), 19 hold puts ($510.7m).
Trends to Q2 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 |
| Q2 2025 | 736 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| 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 |
| Q2 2025 | 338 | 273 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2024 | $145.9m | $504.2m | 3.46 |
| Q4 2024 | $131.9m | $664.0m | 5.03 |
| Q1 2025 | $126.9m | $490.4m | 3.86 |
| Q2 2025 | $183.9m | $510.7m | 2.78 |
Biggest buyers
| ROYAL BANK OF CANADA | Added | +178.9m |
| MUFG Securities EMEA plc | Added | +5.7m |
| BANK OF AMERICA CORP /DE/ | Added | +3.3m |
| MORGAN STANLEY | Added | +2.4m |
| GEODE CAPITAL MANAGEMENT, LLC | Added | +2.3m |
| GOLDMAN SACHS GROUP INC | Added | +2.1m |
| VANGUARD GROUP INC | Added | +2.0m |
| PICTON MAHONEY ASSET MANAGEMENT | New | +2.0m |
| TWO SIGMA INVESTMENTS, LP | Added | +1.8m |
| Value Partners Investments Inc. | Added | +1.5m |
Biggest sellers
| FIL Ltd | Reduced | -19.5m |
| BANK OF MONTREAL /CAN/ | Reduced | -4.8m |
| CANADA PENSION PLAN INVESTMENT BOARD | Reduced | -3.2m |
| MACKENZIE FINANCIAL CORP | Reduced | -2.5m |
| CIBC WORLD MARKET INC. | Reduced | -2.4m |
| CIBC Asset Management Inc | Reduced | -2.0m |
| JUPITER ASSET MANAGEMENT LTD | Sold out | -2.0m |
| Alberta Investment Management Corp | Reduced | -1.7m |
| LORD, ABBETT & CO. LLC | Reduced | -1.6m |
| TD Asset Management Inc | Reduced | -1.5m |
Biggest calls
| TORONTO DOMINION BANK | Added | $40.0m1.2m shares |
| ROYAL BANK OF CANADA | Added | $37.1m1.2m shares |
| NATIONAL BANK OF CANADA /FI/ | Added | $34.2m10.7k shares |
| SIG North Trading, ULC | Added | $17.5m547.3k shares |
| MILLENNIUM MANAGEMENT LLC | Unchanged | $16.2m372.8k shares |
| D. E. Shaw & Co., Inc. | Unchanged | $11.2m350.0k shares |
| Waratah Capital Advisors Ltd. | New | $8.0m250.0k shares |
| CIBC WORLD MARKET INC. | Added | $6.4m200.0k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $3.5m110.0k shares |
| BANK OF MONTREAL /CAN/ | Reduced | $2.4m75.0k shares |
Biggest puts
| ROYAL BANK OF CANADA | Added | $183.7m5.7m shares |
| SIG North Trading, ULC | Added | $63.7m2.0m shares |
| MILLENNIUM MANAGEMENT LLC | Unchanged | $57.9m1.3m shares |
| TORONTO DOMINION BANK | Reduced | $53.8m1.7m shares |
| CIBC WORLD MARKET INC. | Unchanged | $51.9m1.6m shares |
| D. E. Shaw & Co., Inc. | Unchanged | $46.0m1.4m shares |
| DeepCurrents Investment Group LLC | Unchanged | $17.0m5.3k shares |
| NATIONAL BANK OF CANADA /FI/ | Added | $16.9m5.3k shares |
| BANK OF MONTREAL /CAN/ | Reduced | $5.1m160.0k shares |
| BANK OF AMERICA CORP /DE/ | Unchanged | $4.8m150.0k 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 Q2 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 Q2 2025.
Holders, Q2 2025
| Manager | Shares | Change |
|---|---|---|
| ROYAL BANK OF CANADA 1.02% of their portfolio | 326.8m $10.4bn | Added +178.9m |
| VANGUARD GROUP INC 0.04% of their portfolio | 76.3m $2.4bn | Added +2.0m |
| BANK OF MONTREAL /CAN/ 0.73% of their portfolio | 45.3m $1.4bn | Reduced -4.8m |
| TD Asset Management Inc 0.97% of their portfolio | 35.6m $1.1bn | Reduced -1.5m |
| NATIONAL BANK OF CANADA /FI/ 0.94% of their portfolio | 27.1m $867.1m | Added +100.4k |
| 1832 Asset Management L.P. 1.40% of their portfolio | 25.2m $804.0m | Added +730.2k |
| MACKENZIE FINANCIAL CORP 0.92% of their portfolio | 22.2m $708.7m | Reduced -2.5m |
| NORGES BANK 0.08% of their portfolio | 19.8m $632.2m | Reduced -1.5m |
| TORONTO DOMINION BANK 1.35% of their portfolio | 19.6m $628.5m | Added +229.6k |
| CIBC WORLD MARKET INC. 1.37% of their portfolio | 19.4m $620.9m | Reduced -2.4m |
| CIBC Asset Management Inc 1.75% of their portfolio | 17.4m $557.0m | Reduced -2.0m |
| FIL Ltd 0.47% of their portfolio | 17.2m $548.4m | Reduced -19.5m |
| MORGAN STANLEY 0.03% of their portfolio | 15.0m $478.6m | Added +2.4m |
| GEODE CAPITAL MANAGEMENT, LLC 0.03% of their portfolio | 14.0m $453.8m | Added +2.3m |
| BANK OF NOVA SCOTIA 0.92% of their portfolio | 14.0m $447.6m | Added +11.4k |
| Connor, Clark & Lunn Investment Management Ltd. 1.35% of their portfolio | 12.0m $384.4m | Added +567.8k |
| SCOTIA CAPITAL INC. 1.67% of their portfolio | 11.1m $354.5m | Added +406.9k |
| Beutel, Goodman & Co Ltd. 2.01% of their portfolio | 11.1m $353.4m | Reduced -305.4k |
| Legal & General Group Plc 0.09% of their portfolio | 10.9m $348.5m | Added +14.3k |
| GOLDMAN SACHS GROUP INC 0.05% of their portfolio | 10.5m $336.8m | Added +2.1m |
| JPMORGAN CHASE & CO 0.02% of their portfolio | 10.3m $329.7m | Added +814.8k |
| Federation des caisses Desjardins du Quebec 1.33% of their portfolio | 9.5m $302.5m | Reduced -495.8k |
| WELLS FARGO & COMPANY/MN 0.06% of their portfolio | 8.0m $255.1m | Reduced -313.8k |
| BANK OF AMERICA CORP /DE/ 0.02% of their portfolio | 7.6m $242.5m | Added +3.3m |
| TD Waterhouse Canada Inc. 1.53% of their portfolio | 6.7m $213.9m | Reduced -179.9k |
| CANADA PENSION PLAN INVESTMENT BOARD 0.18% of their portfolio | 6.5m $207.2m | Reduced -3.2m |
| DIMENSIONAL FUND ADVISORS LP 0.05% of their portfolio | 6.5m $206.7m | Reduced -495.8k |
| MUFG Securities EMEA plc 9.30% of their portfolio | 6.4m $204.5m | Added +5.7m |
| LETKO, BROSSEAU & ASSOCIATES INC 3.82% of their portfolio | 6.3m $199.6m | Reduced -20.5k |
| Harding Loevner LP 1.32% of their portfolio | 6.1m $196.1m | Reduced -1.3m |
| HSBC HOLDINGS PLC 0.12% of their portfolio | 6.1m $194.0m | Reduced -458.3k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.06% of their portfolio | 5.9m $188.2m | Reduced -491.7k |
| Swiss National Bank 0.10% of their portfolio | 5.2m $166.8m | Added +316.8k |
| Amundi 0.06% of their portfolio | 5.2m $185.3m | Reduced -493.0k |
| Cardinal Capital Management, Inc. 4.79% of their portfolio | 4.8m $153.2m | Reduced -43.6k |
| Capital World Investors 0.02% of their portfolio | 4.7m $150.8m | Unchanged |
| AustralianSuper Pty Ltd 0.74% of their portfolio | 4.6m $146.9m | Reduced -369.6k |
| JARISLOWSKY, FRASER Ltd 0.62% of their portfolio | 3.4m $107.9m | Reduced -63.8k |
| AGF MANAGEMENT LTD 0.54% of their portfolio | 3.4m $119.7m | Added +921.7k |
| Bridgewater Associates, LP 0.40% of their portfolio | 3.1m $100.0m | Reduced -63.3k |
| Alberta Investment Management Corp 0.78% of their portfolio | 3.1m $99.7m | Reduced -1.7m |
| DEUTSCHE BANK AG\ 0.04% of their portfolio | 3.1m $98.7m | Added +248.9k |
| Man Group plc 0.21% of their portfolio | 3.0m $96.3m | Added +1.2m |
| Grantham, Mayo, Van Otterloo & Co. LLC 0.29% of their portfolio | 3.0m $95.9m | Reduced -710.6k |
| MUFG SECURITIES (CANADA), LTD. 2.82% of their portfolio | 2.9m $92.7m | Added +274.3k |
| BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 0.51% of their portfolio | 2.7m $87.3m | Added +1.3m |
| CANADA LIFE ASSURANCE Co 0.14% of their portfolio | 2.7m $86.5m | Reduced -546.0k |
| TWO SIGMA INVESTMENTS, LP 0.15% of their portfolio | 2.6m $82.3m | Added +1.8m |
| BlackRock, Inc. 0.00% of their portfolio | 2.5m $79.4m | Added +761.2k |
| UBS Group AG 0.02% of their portfolio | 2.4m $75.5m | Reduced -381.4k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.01% of their portfolio | 2.3m $73.5m | Added +361.1k |
| INTACT INVESTMENT MANAGEMENT INC. 2.48% of their portfolio | 2.3m $73.3m | Reduced -234.8k |
| Invesco Ltd. 0.01% of their portfolio | 2.2m $70.9m | Reduced -161.1k |
| NORTHERN TRUST CORP 0.01% of their portfolio | 2.1m $67.6m | Reduced -110.1k |
| DekaBank Deutsche Girozentrale 0.12% of their portfolio | 2.1m $66.0m | Reduced -31.0k |
| LORD, ABBETT & CO. LLC 0.21% of their portfolio | 2.0m $64.4m | Reduced -1.6m |
| PICTON MAHONEY ASSET MANAGEMENT 0.89% of their portfolio | 2.0m $63.3m | New |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.05% of their portfolio | 1.9m $59.6m | Added +2.4k |
| FRANKLIN RESOURCES INC 0.02% of their portfolio | 1.8m $58.5m | Reduced -59.6k |
| Bank of New York Mellon Corp 0.01% of their portfolio | 1.8m $58.2m | Added +43.8k |
| Korea Investment CORP 0.12% of their portfolio | 1.6m $52.3m | Added +7.0k |
| AVIVA PLC 0.11% of their portfolio | 1.6m $51.1m | Reduced -738.4k |
| Assenagon Asset Management S.A. 0.08% of their portfolio | 1.6m $49.9m | Added +1.5m |
| APG Asset Management N.V. 0.12% of their portfolio | 1.5m $41.7m | Added +577.9k |
| Value Partners Investments Inc. 3.79% of their portfolio | 1.5m $48.5m | Added +1.5m |
| Zurcher Kantonalbank (Zurich Cantonalbank) 0.12% of their portfolio | 1.5m $47.9m | Added +38.2k |
| NEUBERGER BERMAN GROUP LLC 0.04% of their portfolio | 1.4m $46.1m | Added +43.8k |
| Russell Investments Group, Ltd. 0.06% of their portfolio | 1.4m $46.0m | Reduced -201.5k |
| Nuveen, LLC 0.01% of their portfolio | 1.4m $44.2m | Reduced -9.4k |
| Scheer, Rowlett & Associates Investment Management Ltd. 2.87% of their portfolio | 1.4m $44.3m | Added +33.4k |
| FIRST TRUST ADVISORS LP 0.04% of their portfolio | 1.4m $43.6m | Added +1.2m |
| TODD ASSET MANAGEMENT LLC 0.90% of their portfolio | 1.3m $41.9m | Added +140.8k |
| D. E. Shaw & Co., Inc. 0.04% of their portfolio | 1.3m $41.4m | New |
| Public Sector Pension Investment Board 0.17% of their portfolio | 1.3m $40.4m | Added +1.1m |
| Skandinaviska Enskilda Banken AB (publ) 0.17% of their portfolio | 1.2m $39.1m | Reduced -184.3k |
| ACADIAN ASSET MANAGEMENT LLC 0.08% of their portfolio | 1.2m $36.7m | Added +518.5k |
| Caisse de depot et placement du Quebec 0.08% of their portfolio | 1.1m $36.4m | Added +576.4k |
| Qube Research & Technologies Ltd 0.05% of their portfolio | 1.1m $35.7m | Added +429.1k |
| BARCLAYS PLC 0.01% of their portfolio | 1.1m $34.8m | Reduced -7.2k |
| Hillsdale Investment Management Inc. 1.28% of their portfolio | 1.1m $34.7m | Reduced -637.4k |
| State of Tennessee, Department of Treasury 0.12% of their portfolio | 1.0m $32.7m | Unchanged |
| ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio | 973.7k $31.1m | Reduced -24.4k |
| MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd 3.31% of their portfolio | 938.3k $30.0m | Reduced -19.4k |
| O'SHAUGHNESSY ASSET MANAGEMENT, LLC 0.20% of their portfolio | 930.3k $29.7m | Reduced -542 |
| MILLENNIUM MANAGEMENT LLC 0.03% of their portfolio | 914.1k $29.2m | Added +88.4k |
| GUARDIAN CAPITAL LP 1.01% of their portfolio | 897.5k $28.6m | Reduced -6.2k |
| AMERICAN CENTURY COMPANIES INC 0.02% of their portfolio | 867.7k $27.7m | Added +48.2k |
| Achmea Investment Management B.V. 0.35% of their portfolio | 847.1k $27.0m | Reduced -42.7k |
| TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY 0.21% of their portfolio | 823.2k $26.3m | Added +90.0k |
| Addenda Capital Inc. 1.28% of their portfolio | 818.2k $35.6m | Reduced -525.0k |
| BANK OF NOVA SCOTIA TRUST CO 2.45% of their portfolio | 778.0k $24.9m | Reduced -2.7k |
| Clearbridge Investments, LLC 0.02% of their portfolio | 775.5k $24.8m | Added +217.2k |
| CITIGROUP INC 0.02% of their portfolio | 773.3k $24.7m | Reduced -63.7k |
| Focus Partners Wealth 0.05% of their portfolio | 760.4k $24.3m | Added +2.0k |
| TWO SIGMA ADVISERS, LP 0.05% of their portfolio | 747.1k $23.9m | Added +419.7k |
| VAN ECK ASSOCIATES CORP 0.03% of their portfolio | 745.7k $23.9m | Added +257.9k |
| Pictet Asset Management Holding SA 0.02% of their portfolio | 713.7k $22.8m | Reduced -20.4k |
| Galibier Capital Management Ltd. 6.81% of their portfolio | 710.1k $22.7m | Added +14.9k |
| Allianz Asset Management GmbH 0.03% of their portfolio | 705.7k $22.5m | Reduced -672.5k |
| JONES FINANCIAL COMPANIES LLLP 0.02% of their portfolio | 696.7k $22.3m | Added +97.2k |