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 ($591.3m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $31.22. Options: 18 managers hold calls ($184.4m notional), 16 hold puts ($556.3m).
Trends to Q3 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 |
| Q3 2025 | 707 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| 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 |
| Q3 2025 | 290 | 323 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q4 2024 | $131.9m | $664.0m | 5.03 |
| Q1 2025 | $126.9m | $490.4m | 3.86 |
| Q2 2025 | $183.9m | $510.7m | 2.78 |
| Q3 2025 | $184.4m | $556.3m | 3.02 |
Biggest buyers
| BANK OF MONTREAL /CAN/ | Added | +11.6m |
| JPMORGAN CHASE & CO | Added | +9.6m |
| MACKENZIE FINANCIAL CORP | Added | +5.7m |
| Quadrature Capital Ltd | Added | +4.2m |
| TD Asset Management Inc | Added | +2.1m |
| HSBC HOLDINGS PLC | Added | +2.0m |
| Nearwater Capital Markets, Ltd | New | +1.9m |
| GEODE CAPITAL MANAGEMENT, LLC | Added | +1.8m |
| D. E. Shaw & Co., Inc. | Added | +1.7m |
| UBS Group AG | Added | +1.3m |
Biggest sellers
| ROYAL BANK OF CANADA | Reduced | -167.7m |
| FIL Ltd | Reduced | -11.8m |
| MORGAN STANLEY | Reduced | -4.7m |
| MUFG Securities EMEA plc | Reduced | -4.1m |
| GOLDMAN SACHS GROUP INC | Reduced | -3.8m |
| Connor, Clark & Lunn Investment Management Ltd. | Reduced | -2.7m |
| CIBC Asset Management Inc | Reduced | -2.6m |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | Reduced | -2.2m |
| LORD, ABBETT & CO. LLC | Sold out | -2.0m |
| BANK OF AMERICA CORP /DE/ | Reduced | -1.6m |
Biggest calls
| NATIONAL BANK OF CANADA /FI/ | Added | $46.9m15.0k shares |
| ROYAL BANK OF CANADA | Reduced | $25.3m813.5k shares |
| TORONTO DOMINION BANK | Reduced | $24.1m774.4k shares |
| D. E. Shaw & Co., Inc. | Added | $19.2m615.0k shares |
| BANK OF MONTREAL /CAN/ | Added | $17.9m575.0k shares |
| MILLENNIUM MANAGEMENT LLC | Reduced | $14.1m325.0k shares |
| SIG North Trading, ULC | Reduced | $14.0m450.3k shares |
| NOMURA HOLDINGS INC | New | $9.0m290.0k shares |
| CITADEL ADVISORS LLC | Added | $5.5m177.9k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $2.4m75.7k shares |
Biggest puts
| ROYAL BANK OF CANADA | Added | $191.4m6.1m shares |
| TORONTO DOMINION BANK | Added | $74.1m2.4m shares |
| SIG North Trading, ULC | Added | $72.7m2.3m shares |
| D. E. Shaw & Co., Inc. | Added | $58.8m1.9m shares |
| CIBC WORLD MARKET INC. | Added | $56.8m1.8m shares |
| MILLENNIUM MANAGEMENT LLC | Reduced | $52.4m1.2m shares |
| NATIONAL BANK OF CANADA /FI/ | Added | $23.1m7.4k shares |
| DeepCurrents Investment Group LLC | Unchanged | $16.6m5.3k shares |
| BANK OF AMERICA CORP /DE/ | Unchanged | $4.7m150.0k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $2.7m85.3k 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 Q3 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 Q3 2025.
Holders, Q3 2025
| Manager | Shares | Change |
|---|---|---|
| ROYAL BANK OF CANADA 0.88% of their portfolio | 159.1m $5.0bn | Reduced -167.7m |
| VANGUARD GROUP INC 0.04% of their portfolio | 76.7m $2.4bn | Added +374.6k |
| BANK OF MONTREAL /CAN/ 0.75% of their portfolio | 56.9m $1.8bn | Added +11.6m |
| TD Asset Management Inc 0.95% of their portfolio | 37.6m $1.2bn | Added +2.1m |
| NATIONAL BANK OF CANADA /FI/ 0.99% of their portfolio | 28.2m $878.2m | Added +1.1m |
| MACKENZIE FINANCIAL CORP 1.05% of their portfolio | 27.8m $866.6m | Added +5.7m |
| 1832 Asset Management L.P. 1.34% of their portfolio | 25.4m $790.2m | Added +213.2k |
| JPMORGAN CHASE & CO 0.02% of their portfolio | 20.0m $621.5m | Added +9.6m |
| TORONTO DOMINION BANK 1.18% of their portfolio | 19.5m $606.1m | Reduced -184.1k |
| CIBC WORLD MARKET INC. 1.18% of their portfolio | 18.4m $571.9m | Reduced -1.1m |
| GEODE CAPITAL MANAGEMENT, LLC 0.03% of their portfolio | 15.8m $500.8m | Added +1.8m |
| CIBC Asset Management Inc 1.33% of their portfolio | 14.7m $461.0m | Reduced -2.6m |
| BANK OF NOVA SCOTIA 0.73% of their portfolio | 13.3m $414.5m | Reduced -701.1k |
| Legal & General Group Plc 0.08% of their portfolio | 11.5m $359.7m | Added +621.1k |
| SCOTIA CAPITAL INC. 1.51% of their portfolio | 11.4m $355.9m | Added +346.8k |
| Beutel, Goodman & Co Ltd. 1.93% of their portfolio | 10.3m $319.7m | Reduced -815.8k |
| MORGAN STANLEY 0.02% of their portfolio | 10.2m $319.2m | Reduced -4.7m |
| Federation des caisses Desjardins du Quebec 1.20% of their portfolio | 9.8m $304.2m | Added +306.9k |
| Connor, Clark & Lunn Investment Management Ltd. 0.91% of their portfolio | 9.3m $290.3m | Reduced -2.7m |
| HSBC HOLDINGS PLC 0.15% of their portfolio | 8.0m $250.5m | Added +2.0m |
| DIMENSIONAL FUND ADVISORS LP 0.05% of their portfolio | 7.7m $241.0m | Added +1.3m |
| WELLS FARGO & COMPANY/MN 0.05% of their portfolio | 7.3m $227.2m | Reduced -688.9k |
| TD Waterhouse Canada Inc. 1.41% of their portfolio | 6.9m $215.8m | Added +166.1k |
| GOLDMAN SACHS GROUP INC 0.03% of their portfolio | 6.8m $211.3m | Reduced -3.8m |
| CANADA PENSION PLAN INVESTMENT BOARD 0.14% of their portfolio | 6.3m $197.0m | Reduced -151.9k |
| LETKO, BROSSEAU & ASSOCIATES INC 3.33% of their portfolio | 6.2m $193.7m | Reduced -39.8k |
| BANK OF AMERICA CORP /DE/ 0.01% of their portfolio | 6.0m $187.7m | Reduced -1.6m |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.06% of their portfolio | 5.9m $183.8m | Added +9.8k |
| FIL Ltd 0.13% of their portfolio | 5.3m $166.5m | Reduced -11.8m |
| Harding Loevner LP 1.16% of their portfolio | 5.1m $158.2m | Reduced -1.1m |
| Swiss National Bank 0.09% of their portfolio | 4.9m $153.2m | Reduced -322.5k |
| Cardinal Capital Management, Inc. 4.32% of their portfolio | 4.8m $149.4m | Added +75 |
| Capital World Investors 0.02% of their portfolio | 4.7m $145.3m | Reduced -53.2k |
| Quadrature Capital Ltd 1.56% of their portfolio | 4.2m $131.7m | Added +4.2m |
| AGF MANAGEMENT LTD 0.63% of their portfolio | 4.2m $142.9m | Added +809.0k |
| BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 0.69% of their portfolio | 3.9m $120.8m | Added +1.1m |
| Amundi 0.04% of their portfolio | 3.8m $126.6m | Reduced -1.3m |
| UBS Group AG 0.02% of their portfolio | 3.7m $113.8m | Added +1.3m |
| JARISLOWSKY, FRASER Ltd 0.56% of their portfolio | 3.3m $102.0m | Reduced -107.5k |
| DEUTSCHE BANK AG\ 0.03% of their portfolio | 3.2m $99.7m | Added +112.9k |
| AustralianSuper Pty Ltd 0.47% of their portfolio | 3.2m $99.6m | Reduced -1.4m |
| D. E. Shaw & Co., Inc. 0.08% of their portfolio | 3.0m $94.6m | Added +1.7m |
| Bridgewater Associates, LP 0.37% of their portfolio | 3.0m $93.2m | Reduced -141.8k |
| MUFG SECURITIES (CANADA), LTD. 2.45% of their portfolio | 2.8m $87.6m | Reduced -92.9k |
| Alberta Investment Management Corp 0.62% of their portfolio | 2.8m $85.9m | Reduced -358.5k |
| TWO SIGMA INVESTMENTS, LP 0.13% of their portfolio | 2.6m $82.2m | Added +61.6k |
| CANADA LIFE ASSURANCE Co 0.11% of their portfolio | 2.6m $79.5m | Reduced -140.1k |
| MUFG Securities EMEA plc 1.80% of their portfolio | 2.3m $71.6m | Reduced -4.1m |
| Grantham, Mayo, Van Otterloo & Co. LLC 0.20% of their portfolio | 2.3m $70.6m | Reduced -735.3k |
| BlackRock, Inc. 0.00% of their portfolio | 2.2m $69.4m | Reduced -257.6k |
| Man Group plc 0.13% of their portfolio | 2.1m $65.6m | Reduced -913.3k |
| DekaBank Deutsche Girozentrale 0.11% of their portfolio | 2.1m $63.4m | Unchanged |
| FRANKLIN RESOURCES INC 0.02% of their portfolio | 2.0m $61.6m | Added +148.1k |
| NORTHERN TRUST CORP 0.01% of their portfolio | 2.0m $61.2m | Reduced -150.9k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.05% of their portfolio | 1.9m $60.3m | Added +63.5k |
| Nearwater Capital Markets, Ltd 0.79% of their portfolio | 1.9m $59.2m | New |
| Invesco Ltd. 0.01% of their portfolio | 1.7m $54.2m | Reduced -477.9k |
| Bank of New York Mellon Corp 0.01% of their portfolio | 1.7m $53.8m | Reduced -93.1k |
| AVIVA PLC 0.10% of their portfolio | 1.7m $52.9m | Added +101.0k |
| Korea Investment CORP 0.11% of their portfolio | 1.7m $51.6m | Added +18.3k |
| Clearbridge Investments, LLC 0.04% of their portfolio | 1.6m $49.3m | Added +806.1k |
| APG Asset Management N.V. 0.11% of their portfolio | 1.5m $40.8m | Added +3.2k |
| Value Partners Investments Inc. 3.86% of their portfolio | 1.5m $47.3m | Added +632 |
| INTACT INVESTMENT MANAGEMENT INC. 1.43% of their portfolio | 1.5m $47.1m | Reduced -781.0k |
| PICTON MAHONEY ASSET MANAGEMENT 0.60% of their portfolio | 1.5m $47.0m | Reduced -478.6k |
| Scheer, Rowlett & Associates Investment Management Ltd. 2.79% of their portfolio | 1.5m $46.9m | Added +119.5k |
| Zurcher Kantonalbank (Zurich Cantonalbank) 0.10% of their portfolio | 1.4m $43.5m | Reduced -106.3k |
| TODD ASSET MANAGEMENT LLC 0.88% of their portfolio | 1.4m $43.4m | Added +80.7k |
| Nuveen, LLC 0.01% of their portfolio | 1.4m $42.7m | Reduced -14.2k |
| NEUBERGER BERMAN GROUP LLC 0.03% of their portfolio | 1.4m $42.5m | Reduced -81.2k |
| FIRST TRUST ADVISORS LP 0.03% of their portfolio | 1.4m $42.1m | Reduced -13.5k |
| Russell Investments Group, Ltd. 0.04% of their portfolio | 1.2m $36.2m | Reduced -280.0k |
| CITIGROUP INC 0.02% of their portfolio | 1.2m $36.0m | Added +382.8k |
| ACADIAN ASSET MANAGEMENT LLC 0.06% of their portfolio | 1.1m $35.7m | Reduced -5.4k |
| State of Tennessee, Department of Treasury 0.12% of their portfolio | 1.1m $34.8m | Added +91.6k |
| MILLENNIUM MANAGEMENT LLC 0.03% of their portfolio | 1.1m $33.3m | Added +156.0k |
| AMERICAN CENTURY COMPANIES INC 0.02% of their portfolio | 1.0m $31.3m | Added +138.0k |
| Achmea Investment Management B.V. 0.36% of their portfolio | 933.4k $29.1m | Added +86.3k |
| VAN ECK ASSOCIATES CORP 0.03% of their portfolio | 929.7k $29.0m | Added +184.0k |
| BARCLAYS PLC 0.01% of their portfolio | 928.3k $28.9m | Reduced -159.5k |
| TWO SIGMA ADVISERS, LP 0.06% of their portfolio | 915.2k $28.5m | Added +168.1k |
| GUARDIAN CAPITAL LP 0.90% of their portfolio | 894.2k $27.9m | Reduced -3.3k |
| TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY 0.21% of their portfolio | 891.5k $27.8m | Added +68.3k |
| O'SHAUGHNESSY ASSET MANAGEMENT, LLC 0.16% of their portfolio | 883.8k $27.5m | Reduced -46.5k |
| MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd 2.97% of their portfolio | 861.5k $26.7m | Reduced -76.8k |
| Addenda Capital Inc. 1.03% of their portfolio | 804.6k $34.9m | Reduced -13.6k |
| Zurich Insurance Group Ltd/FI 0.18% of their portfolio | 801.5k $25.0m | New |
| JONES FINANCIAL COMPANIES LLLP 0.02% of their portfolio | 795.2k $24.5m | Added +98.5k |
| BANK OF NOVA SCOTIA TRUST CO 2.30% of their portfolio | 795.0k $24.8m | Added +16.9k |
| Caisse de depot et placement du Quebec 0.04% of their portfolio | 776.0k $24.2m | Reduced -363.6k |
| FORSTA AP-FONDEN 0.14% of their portfolio | 765.5k $23.9m | Added +103.1k |
| Focus Partners Wealth 0.04% of their portfolio | 763.1k $23.8m | Added +2.8k |
| ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio | 720.1k $22.4m | Reduced -253.6k |
| Candriam S.C.A. 0.12% of their portfolio | 711.5k $22.2m | Added +85.4k |
| SIG North Trading, ULC 3.23% of their portfolio | 673.3k $21.0m | Added +159.0k |
| Pictet Asset Management Holding SA 0.02% of their portfolio | 672.3k $21.0m | Reduced -41.4k |
| Mn Services Vermogensbeheer B.V. 0.13% of their portfolio | 651.8k $20.3m | Added +7.6k |
| CANERECTOR INC 14.38% of their portfolio | 650.0k $28.2m | Added +30.0k |
| Allspring Global Investments Holdings, LLC 0.03% of their portfolio | 642.5k $20.2m | Added +198.2k |
| Allianz Asset Management GmbH 0.02% of their portfolio | 637.6k $19.9m | Reduced -68.0k |