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 ($961.6m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $34.54. Options: 19 managers hold calls ($157.9m notional), 18 hold puts ($429.6m).
Trends to Q1 2026
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 |
| Q4 2025 | 768 |
| Q1 2026 | 773 |
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 2024 | 262 | 259 |
| Q3 2024 | 268 | 257 |
| Q4 2024 | 257 | 296 |
| Q1 2025 | 309 | 278 |
| Q2 2025 | 338 | 273 |
| Q3 2025 | 290 | 323 |
| Q4 2025 | 329 | 279 |
| Q1 2026 | 322 | 302 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2025 | $183.9m | $510.7m | 2.78 |
| Q3 2025 | $184.4m | $556.3m | 3.02 |
| Q4 2025 | $189.3m | $734.8m | 3.88 |
| Q1 2026 | $157.9m | $429.6m | 2.72 |
Biggest buyers
| TD Waterhouse Canada Inc. | Added | +9.8m |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | Added | +7.6m |
| NATIONAL BANK OF CANADA /FI/ | Added | +4.2m |
| TD Asset Management Inc | Added | +2.6m |
| Caisse de depot et placement du Quebec | Added | +2.2m |
| CANADA PENSION PLAN INVESTMENT BOARD | Added | +2.0m |
| JPMORGAN CHASE & CO | Added | +1.9m |
| MACKENZIE FINANCIAL CORP | Added | +1.3m |
| BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp | Added | +1.2m |
| Swiss National Bank | Added | +1.2m |
Biggest sellers
| ROYAL BANK OF CANADA | Reduced | -21.8m |
| CIBC WORLD MARKET INC. | Reduced | -8.4m |
| GOLDMAN SACHS GROUP INC | Reduced | -4.7m |
| JANUS HENDERSON GROUP PLC | Reduced | -3.8m |
| CIBC Asset Management Inc | Reduced | -2.8m |
| OMERS ADMINISTRATION Corp | Reduced | -1.9m |
| UBS Group AG | Reduced | -1.5m |
| Connor, Clark & Lunn Investment Management Ltd. | Reduced | -1.4m |
| ACADIAN ASSET MANAGEMENT LLC | Reduced | -1.3m |
| FIL Ltd | Reduced | -974.1k |
Biggest calls
| NATIONAL BANK OF CANADA /FI/ | Reduced | $41.5m12.1k shares |
| TORONTO DOMINION BANK | Added | $32.5m941.9k shares |
| BANK OF MONTREAL /CAN/ | Reduced | $22.0m639.7k shares |
| ROYAL BANK OF CANADA | Reduced | $17.2m500.0k shares |
| SIG North Trading, ULC | Added | $14.2m412.6k shares |
| NOMURA HOLDINGS INC | Unchanged | $10.0m290.0k shares |
| MILLENNIUM MANAGEMENT LLC | Added | $5.0m105.0k shares |
| CIBC WORLD MARKET INC. | New | $3.9m113.6k shares |
| CITADEL ADVISORS LLC | Added | $2.7m78.0k shares |
| D. E. Shaw & Co., Inc. | Reduced | $2.6m75.0k shares |
Biggest puts
| ROYAL BANK OF CANADA | Reduced | $196.8m5.7m shares |
| SIG North Trading, ULC | Reduced | $75.7m2.2m shares |
| TORONTO DOMINION BANK | Reduced | $68.0m2.0m shares |
| D. E. Shaw & Co., Inc. | Reduced | $33.1m962.5k shares |
| CIBC WORLD MARKET INC. | Reduced | $20.9m607.5k shares |
| NATIONAL BANK OF CANADA /FI/ | Reduced | $13.1m3.8k shares |
| MILLENNIUM MANAGEMENT LLC | Reduced | $6.2m130.0k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $3.6m104.8k shares |
| Walleye Trading LLC | Added | $2.6m75.1k shares |
| BANK OF MONTREAL /CAN/ | New | $2.1m60.0k 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 2026
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 2026.
Holders, Q1 2026
| Manager | Shares | Change |
|---|---|---|
| ROYAL BANK OF CANADA 0.72% of their portfolio | 111.0m $3.8bn | Reduced -21.8m |
| BANK OF MONTREAL /CAN/ 0.81% of their portfolio | 57.3m $2.0bn | Added +467.6k |
| VANGUARD CAPITAL MANAGEMENT LLC 0.04% of their portfolio | 48.1m $1.7bn | First filing |
| TD Asset Management Inc 1.14% of their portfolio | 40.7m $1.4bn | Added +2.6m |
| MACKENZIE FINANCIAL CORP 1.24% of their portfolio | 29.9m $1.0bn | Added +1.3m |
| 1832 Asset Management L.P. 1.29% of their portfolio | 28.2m $972.9m | Reduced -329.4k |
| NATIONAL BANK OF CANADA /FI/ 0.92% of their portfolio | 26.2m $899.7m | Added +4.2m |
| TORONTO DOMINION BANK 1.36% of their portfolio | 20.5m $706.9m | Reduced -631.1k |
| GEODE CAPITAL MANAGEMENT, LLC 0.04% of their portfolio | 17.5m $623.2m | Added +736.4k |
| CIBC WORLD MARKET INC. 1.02% of their portfolio | 16.8m $579.0m | Reduced -8.4m |
| TD Waterhouse Canada Inc. 1.72% of their portfolio | 16.7m $580.5m | Added +9.8m |
| VANGUARD FIDUCIARY TRUST CO 0.13% of their portfolio | 14.8m $508.9m | First filing |
| CIBC Asset Management Inc 1.19% of their portfolio | 14.1m $487.7m | Reduced -2.8m |
| CANADA PENSION PLAN INVESTMENT BOARD 0.29% of their portfolio | 13.0m $447.6m | Added +2.0m |
| Vanguard Global Advisers, LLC 0.22% of their portfolio | 11.9m $410.6m | First filing |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.67% of their portfolio | 11.7m $403.0m | Added +7.6m |
| Legal & General Group Plc 0.09% of their portfolio | 11.4m $390.6m | Added +99.3k |
| BANK OF NOVA SCOTIA 0.69% of their portfolio | 11.4m $391.6m | Reduced -572.3k |
| SCOTIA CAPITAL INC. 1.53% of their portfolio | 10.9m $373.2m | Reduced -280.8k |
| MORGAN STANLEY 0.02% of their portfolio | 10.4m $359.2m | Added +254.5k |
| JPMORGAN CHASE & CO 0.02% of their portfolio | 10.4m $348.3m | Added +1.9m |
| Beutel, Goodman & Co Ltd. 2.36% of their portfolio | 10.1m $347.4m | Reduced -906.7k |
| Federation des caisses Desjardins du Quebec 1.13% of their portfolio | 9.2m $313.5m | Reduced -828.6k |
| DIMENSIONAL FUND ADVISORS LP 0.06% of their portfolio | 8.3m $284.4m | Reduced -101.7k |
| WELLS FARGO & COMPANY/MN 0.05% of their portfolio | 7.1m $243.2m | Reduced -146.2k |
| Connor, Clark & Lunn Investment Management Ltd. 0.49% of their portfolio | 6.1m $211.3m | Reduced -1.4m |
| LETKO, BROSSEAU & ASSOCIATES INC 3.34% of their portfolio | 6.0m $207.3m | Reduced -112.8k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.07% of their portfolio | 5.8m $219.1m | Added +68.9k |
| Man Group plc 0.40% of their portfolio | 5.7m $194.3m | Reduced -547.2k |
| Swiss National Bank 0.11% of their portfolio | 5.6m $194.2m | Added +1.2m |
| GOLDMAN SACHS GROUP INC 0.02% of their portfolio | 4.7m $161.4m | Reduced -4.7m |
| Cardinal Capital Management, Inc. 4.33% of their portfolio | 4.7m $160.5m | Added +105.4k |
| Caisse de depot et placement du Quebec 0.25% of their portfolio | 4.5m $154.1m | Added +2.2m |
| Harding Loevner LP 1.59% of their portfolio | 4.5m $154.4m | Reduced -247.3k |
| Amundi 0.04% of their portfolio | 3.9m $136.1m | Reduced -321.6k |
| BANK OF AMERICA CORP /DE/ 0.01% of their portfolio | 3.8m $129.9m | Reduced -555.7k |
| AustralianSuper Pty Ltd 0.67% of their portfolio | 3.8m $129.4m | Added +743.9k |
| DEUTSCHE BANK AG\ 0.04% of their portfolio | 3.5m $119.4m | Reduced -586.3k |
| AGF MANAGEMENT LTD 0.60% of their portfolio | 3.4m $132.9m | Reduced -313.2k |
| VANGUARD ASSET MANAGEMENT, Ltd 0.10% of their portfolio | 3.4m $116.9m | First filing |
| AQR CAPITAL MANAGEMENT LLC 0.04% of their portfolio | 2.8m $94.3m | Reduced -12.1k |
| UBS Group AG 0.02% of their portfolio | 2.6m $87.9m | Reduced -1.5m |
| Invesco Ltd. 0.01% of their portfolio | 2.5m $87.6m | Added +855.5k |
| MUFG SECURITIES (CANADA), LTD. 2.46% of their portfolio | 2.5m $85.5m | Reduced -78.5k |
| BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 0.51% of their portfolio | 2.5m $85.5m | Added +1.2m |
| INTACT INVESTMENT MANAGEMENT INC. 2.42% of their portfolio | 2.5m $85.0m | Added +115.2k |
| Quadrature Capital Ltd 0.97% of their portfolio | 2.4m $81.5m | Added +509.9k |
| Alberta Investment Management Corp 0.49% of their portfolio | 2.3m $80.0m | Reduced -434.8k |
| BlackRock, Inc. 0.00% of their portfolio | 2.1m $73.6m | Added +212.5k |
| Bridgewater Associates, LP 0.32% of their portfolio | 2.1m $72.6m | Reduced -444.4k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.06% of their portfolio | 2.1m $71.1m | Added +98.4k |
| DekaBank Deutsche Girozentrale 0.12% of their portfolio | 2.1m $72.0m | Unchanged |
| NORTHERN TRUST CORP 0.01% of their portfolio | 1.9m $65.6m | Reduced -2.7k |
| FIL Ltd 0.05% of their portfolio | 1.9m $64.9m | Reduced -974.1k |
| Russell Investments Group, Ltd. 0.07% of their portfolio | 1.9m $64.5m | Added +385.9k |
| Hillsdale Investment Management Inc. 1.75% of their portfolio | 1.9m $64.3m | Added +1.2m |
| AVIVA PLC 0.11% of their portfolio | 1.8m $63.5m | Added +53.0k |
| VAN ECK ASSOCIATES CORP 0.05% of their portfolio | 1.8m $63.0m | Added +501.2k |
| CANADA LIFE ASSURANCE Co 0.11% of their portfolio | 1.8m $62.8m | Added +7.4k |
| Korea Investment CORP 0.13% of their portfolio | 1.8m $62.1m | Added +168.5k |
| Bank of New York Mellon Corp 0.01% of their portfolio | 1.8m $60.5m | Added +75.4k |
| FRANKLIN RESOURCES INC 0.01% of their portfolio | 1.7m $59.1m | Reduced -176.8k |
| TWO SIGMA INVESTMENTS, LP 0.05% of their portfolio | 1.7m $58.1m | Reduced -460.8k |
| Clearbridge Investments, LLC 0.05% of their portfolio | 1.5m $53.0m | Added +4.0k |
| Value Partners Investments Inc. 3.98% of their portfolio | 1.5m $52.2m | Reduced -39 |
| GUARDIAN CAPITAL LP 1.33% of their portfolio | 1.5m $50.3m | Reduced -51.5k |
| Zurcher Kantonalbank (Zurich Cantonalbank) 0.10% of their portfolio | 1.4m $47.4m | Added +26.6k |
| Grantham, Mayo, Van Otterloo & Co. LLC 0.12% of their portfolio | 1.4m $47.2m | Reduced -22.9k |
| NEUBERGER BERMAN GROUP LLC 0.04% of their portfolio | 1.4m $46.1m | Reduced -24.8k |
| Nuveen, LLC 0.01% of their portfolio | 1.4m $46.6m | Reduced -8.4k |
| TODD ASSET MANAGEMENT LLC 0.84% of their portfolio | 1.3m $43.1m | Added +11.3k |
| FIRST TRUST ADVISORS LP 0.03% of their portfolio | 1.2m $40.5m | Added +14.7k |
| RENAISSANCE TECHNOLOGIES LLC 0.06% of their portfolio | 1.1m $38.8m | Added +737.1k |
| AMERICAN CENTURY COMPANIES INC 0.02% of their portfolio | 1.1m $37.8m | Added +4.6k |
| Scheer, Rowlett & Associates Investment Management Ltd. 2.71% of their portfolio | 1.1m $37.7m | Reduced -207.7k |
| Public Sector Pension Investment Board 0.11% of their portfolio | 1.1m $36.5m | Added +802.2k |
| PICTON MAHONEY ASSET MANAGEMENT 0.38% of their portfolio | 1.1m $36.5m | Reduced -837.6k |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.04% of their portfolio | 1.0m $34.8m | Added +846.7k |
| JONES FINANCIAL COMPANIES LLLP 0.02% of their portfolio | 985.1k $33.1m | Added +127.4k |
| SEB Asset Management AB 0.14% of their portfolio | 976.5k $33.5m | First filing |
| BARCLAYS PLC 0.01% of their portfolio | 961.7k $33.1m | Reduced -733.2k |
| State of Tennessee, Department of Treasury 0.11% of their portfolio | 960.5k $33.0m | Reduced -62.6k |
| Achmea Investment Management B.V. 0.82% of their portfolio | 910.1k $31.3m | Reduced -6.2k |
| WELLINGTON MANAGEMENT GROUP LLP 0.01% of their portfolio | 909.7k $31.2m | Reduced -184.8k |
| APG Asset Management N.V. 0.08% of their portfolio | 859.6k $25.6m | Reduced -12.0k |
| Vanguard Investments Australia, Ltd. 0.08% of their portfolio | 835.3k $28.8m | First filing |
| PBU - The Pension Fund of Early Childhood & Youth Educators 0.43% of their portfolio | 833.5k $28.6m | Added +175.4k |
| BANK OF NOVA SCOTIA TRUST CO 2.42% of their portfolio | 817.1k $28.1m | Added +18.2k |
| Focus Partners Wealth 0.03% of their portfolio | 815.6k $28.1m | Added +18.8k |
| CANERECTOR INC 18.16% of their portfolio | 800.0k $38.3m | Added +170.0k |
| Addenda Capital Inc. 1.03% of their portfolio | 764.5k $36.6m | Reduced -6.2k |
| MILLENNIUM MANAGEMENT LLC 0.02% of their portfolio | 754.0k $25.9m | Added +162.5k |
| TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY 0.20% of their portfolio | 753.6k $26.0m | Unchanged |
| ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio | 693.3k $23.9m | Added +86.6k |
| MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd 2.57% of their portfolio | 688.8k $24.1m | Reduced -6.3k |
| Allspring Global Investments Holdings, LLC 0.04% of their portfolio | 687.4k $23.9m | Added +52.0k |
| RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio | 668.3k $23.0m | Added +23.8k |
| Mn Services Vermogensbeheer B.V. 0.15% of their portfolio | 659.6k $22.6m | Reduced -9.5k |
| Pictet Asset Management Holding SA 0.02% of their portfolio | 654.0k $22.5m | Reduced -24.9k |
| CITIGROUP INC 0.01% of their portfolio | 646.8k $22.2m | Reduced -237.9k |