Vault-13

ROYAL BK CDA RY

COM · Common Stock · CUSIP 780087102 · ISIN CA7800871021

Financial institution in Canada

679 institutional holders +35 vs Q3 2023
637,679,037637.7m shares reported held*
45.5% of all shares outstanding*
$64.5bnreported value*
70 new 207 added 222 reduced 51 sold out net bought ≈ $35.7m (+1.3m shares)

* 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 ($1.6bn this quarter). Holder counts are more reliable. Shares outstanding: 1.4bn as of 2023-10-31, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $101.45. Options: 25 managers hold calls ($763.7m notional), 25 hold puts ($540.2m).

Trends to Q4 2023

Institutional holders

Managers reporting a position, each quarter

0250500750Q3 22: 612Q4 22: 658Q1 23: 662Q2 23: 651Q3 23: 644Q4 23: 679679Q3 22Q4 22Q1 23Q2 23Q3 23Q4 23
Numbers
QuarterHolders
Q3 2022612
Q4 2022658
Q1 2023662
Q2 2023651
Q3 2023644
Q4 2023679

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
4000400Q4 22: 250 bought or addedQ4 22: 240 cut or sold outQ4 22Q1 23: 266 bought or addedQ1 23: 261 cut or sold outQ1 23Q2 23: 246 bought or addedQ2 23: 277 cut or sold outQ2 23Q3 23: 237 bought or addedQ3 23: 285 cut or sold outQ3 23Q4 23: 277 bought or addedQ4 23: 273 cut or sold outQ4 23
Numbers
QuarterBought or addedCut or sold out
Q4 2022250240
Q1 2023266261
Q2 2023246277
Q3 2023237285
Q4 2023277273

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$200m$400m$600m$800mQ1 23 calls: $552.3mQ1 23 puts: $425.4mQ1 23P/C 0.77Q2 23 calls: $542.0mQ2 23 puts: $365.1mQ2 23P/C 0.67Q3 23 calls: $599.0mQ3 23 puts: $451.3mQ3 23P/C 0.75Q4 23 calls: $763.7mQ4 23 puts: $540.2mQ4 23P/C 0.71
Numbers
QuarterCallsPutsP/C
Q1 2023$552.3m$425.4m0.77
Q2 2023$542.0m$365.1m0.67
Q3 2023$599.0m$451.3m0.75
Q4 2023$763.7m$540.2m0.71

Biggest buyers

JPMORGAN CHASE & CO Added +6,227,566+6.2m
TD Asset Management Inc Added +5,810,077+5.8m
CIBC WORLD MARKET INC. Added +5,630,278+5.6m
Capital World Investors New +3,611,712+3.6m
HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND Added +2,368,469+2.4m
GOLDMAN SACHS GROUP INC Added +2,105,448+2.1m
Clearbridge Investments, LLC New +1,791,165+1.8m
ROYAL BANK OF CANADA Added +1,775,527+1.8m
MORGAN STANLEY Added +1,615,627+1.6m
VANGUARD GROUP INC Added +1,603,427+1.6m

Biggest sellers

TORONTO DOMINION BANK Reduced -20,914,259-20.9m
BANK OF MONTREAL /CAN/ Reduced -13,329,359-13.3m
FMR LLC Reduced -2,912,483-2.9m
FRANKLIN RESOURCES INC Reduced -1,804,258-1.8m
STATE OF WISCONSIN INVESTMENT BOARD Sold out -667,756-667.8k
MILLENNIUM MANAGEMENT LLC Reduced -614,643-614.6k
CANADA PENSION PLAN INVESTMENT BOARD Reduced -603,623-603.6k
Candriam S.C.A. Reduced -502,411-502.4k
BANK OF AMERICA CORP /DE/ Reduced -404,485-404.5k
D. E. Shaw & Co., Inc. Reduced -398,754-398.8k

Biggest calls

CIBC WORLD MARKET INC. Reduced $156.9m1.6m shares
ROYAL BANK OF CANADA Added $151.1m1.5m shares
D. E. Shaw & Co., Inc. Added $120.5m1.2m shares
MILLENNIUM MANAGEMENT LLC Added $103.8m775.0k shares
JANE STREET GROUP, LLC Added $75.5m746.8k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $41.1m406.9k shares
CITADEL ADVISORS LLC Added $32.4m320.6k shares
GROUP ONE TRADING LLC Added $18.4m182.1k shares
SIMPLEX TRADING, LLC Added $14.9m147.8k shares
BANK OF MONTREAL /CAN/ New $13.2m130.0k shares

Biggest puts

BANK OF MONTREAL /CAN/ Added $116.9m1.2m shares
CIBC WORLD MARKET INC. Added $70.7m699.2k shares
MILLENNIUM MANAGEMENT LLC Reduced $67.0m500.0k shares
D. E. Shaw & Co., Inc. Reduced $62.2m615.0k shares
JANE STREET GROUP, LLC Added $62.1m614.5k shares
ROYAL BANK OF CANADA Added $55.1m545.0k shares
GROUP ONE TRADING LLC Added $23.9m236.1k shares
Genus Capital Management Inc. New $18.1m178.4k shares
CITADEL ADVISORS LLC Added $16.1m159.1k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $8.0m79.0k 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.

Insider purchases and sales in Q4 2023

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 Q4 2023.

Holders, Q4 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 ROYAL BANK OF CANADA 1.93% of their portfolio TORONTO, A6 76,790,67476.8m $7.8bn $7.8bn 1.93% Added +1.8m +1,775,527
2 BANK OF MONTREAL /CAN/ 2.49% of their portfolio TORONTO, A6 75,563,65475.6m $7.7bn $7.7bn 2.49% Reduced -13.3m -13,329,359
3 VANGUARD GROUP INC 0.12% of their portfolio Valley Forge, PA 54,730,64654.7m $5.5bn $5.5bn 0.12% Added +1.6m +1,603,427
4 TD Asset Management Inc 3.25% of their portfolio Toronto, A6 32,571,49132.6m $3.3bn $3.3bn 3.25% Added +5.8m +5,810,077
5 CIBC WORLD MARKET INC. 8.43% of their portfolio TORONTO, A6 29,445,58229.4m $3.0bn $3.0bn 8.43% Added +5.6m +5,630,278
6 BANK OF NOVA SCOTIA 5.32% of their portfolio TORONTO, A6 28,024,91728.0m $2.8bn $2.8bn 5.32% Added +1.4m +1,357,956
7 MACKENZIE FINANCIAL CORP 4.10% of their portfolio TORONTO ONTARIO, A6 26,869,80926.9m $2.7bn $2.7bn 4.10% Added +1.4m +1,369,723
8 TORONTO DOMINION BANK 3.00% of their portfolio TORONTO, ONTARIO, A6 20,457,31320.5m $2.1bn $2.1bn 3.00% Reduced -20.9m -20,914,259
9 NATIONAL BANK OF CANADA /FI/ 3.49% of their portfolio MONTREAL, A8 19,209,62419.2m $1.9bn $1.9bn 3.49% Reduced -392.4k -392,434
10 FIL Ltd 2.00% of their portfolio HAMILTON, D0 18,790,16418.8m $1.9bn $1.9bn 2.00% Added +333.3k +333,333
11 NORGES BANK 0.33% of their portfolio OSLO, Q8 18,776,99218.8m $1.9bn $1.9bn 0.33% Added +478.4k +478,363
12 1832 Asset Management L.P. 3.53% of their portfolio TORONTO, A6 18,462,70718.5m $1.9bn $1.9bn 3.53% Added +1.0m +1,017,771
13 CIBC Asset Management Inc 5.12% of their portfolio TORONTO, Z4 13,490,41913.5m $1.4bn $1.4bn 5.12% Added +1.1m +1,076,974
14 JPMORGAN CHASE & CO 0.06% of their portfolio NEW YORK, NY 12,131,31812.1m $1.2bn $1.2bn 0.06% Added +6.2m +6,227,566
15 Beutel, Goodman & Co Ltd. 5.96% of their portfolio TORONTO, A6 11,053,45411.1m $1.1bn $1.1bn 5.96% Reduced -6.4k -6,430
16 WELLINGTON MANAGEMENT GROUP LLP 0.21% of their portfolio Boston, MA 11,006,20711.0m $1.1bn $1.1bn 0.21% Added +415.3k +415,293
17 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.59% of their portfolio Toronto, A6 9,751,3889.8m $987.7m $987.7m 0.59% Reduced -71.9k -71,939
18 FMR LLC 0.07% of their portfolio BOSTON, MA 9,140,9749.1m $924.4m $924.4m 0.07% Reduced -2.9m -2,912,483
19 SCOTIA CAPITAL INC. 5.66% of their portfolio TORONTO, A6 8,681,8638.7m $877.4m $877.4m 5.66% Added +170.6k +170,644
20 Connor, Clark & Lunn Investment Management Ltd. 4.03% of their portfolio VANCOUVER, A1 8,550,4368.6m $864.7m $864.7m 4.03% Added +158.0k +158,011
21 Legal & General Group Plc 0.25% of their portfolio London, X0 7,904,3747.9m $803.2m $803.2m 0.25% Added +93.1k +93,061
22 GOLDMAN SACHS GROUP INC 0.15% of their portfolio NEW YORK, NY 6,977,1747.0m $705.6m $705.6m 0.15% Added +2.1m +2,105,448
23 HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 2.33% of their portfolio TORONTO, A6 6,536,9516.5m $661.4m $661.4m 2.33% Added +2.4m +2,368,469
24 TD Waterhouse Canada Inc. 7.16% of their portfolio TORONTO, A6 5,769,7885.8m $767.9m $767.9m 7.16% Added +223.8k +223,751
25 MORGAN STANLEY 0.02% of their portfolio NEW YORK, NY 5,503,7145.5m $556.6m $556.6m 0.02% Added +1.6m +1,615,627
26 GEODE CAPITAL MANAGEMENT, LLC 0.06% of their portfolio BOSTON, MA 5,239,0305.2m $532.6m $532.6m 0.06% Added +236.1k +236,108
27 Fiera Capital Corp 1.40% of their portfolio MONTREAL, A8 4,491,5704.5m $455.7m $455.7m 1.40% Added +115.7k +115,706
28 Federation des caisses Desjardins du Quebec 4.01% of their portfolio LEVIS, A8 4,109,0854.1m $428.7m $428.7m 4.01% Added +49.7k +49,719
29 Capital World Investors 0.06% of their portfolio LOS ANGELES, CA 3,611,7123.6m $365.2m $365.2m 0.06% New
30 CANADA PENSION PLAN INVESTMENT BOARD 0.46% of their portfolio TORONTO ONTARIO, A6 3,587,0443.6m $364.5m $364.5m 0.46% Reduced -603.6k -603,623
31 Alberta Investment Management Corp 3.21% of their portfolio EDMONTON, A0 3,364,0783.4m $341.9m $341.9m 3.21% Added +23.7k +23,748
32 Invesco Ltd. 0.08% of their portfolio ATLANTA, GA 3,242,2933.2m $327.9m $327.9m 0.08% Added +54.8k +54,809
33 Sumitomo Mitsui Trust Group, Inc. 0.24% of their portfolio CHIYODA-KU, TOKYO, M0 3,223,3613.2m $327.0m $327.0m 0.24% Reduced -3.8k -3,812
34 AGF MANAGEMENT LTD 1.82% of their portfolio TORONTO, A6 2,798,5022.8m $309.6m $309.6m 1.82% Added +812.9k +812,916
35 MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.09% of their portfolio Boston, MA 2,747,0272.7m $277.8m $277.8m 0.09% Reduced -15.0k -15,000
36 Caisse de depot et placement du Quebec 0.66% of their portfolio Montreal, A8 2,569,2922.6m $261.1m $261.1m 0.66% Added +136.5k +136,523
37 JARISLOWSKY, FRASER Ltd 1.35% of their portfolio MONTREAL, A8 2,257,8072.3m $229.4m $229.4m 1.35% Reduced -4.1k -4,147
38 BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 1.85% of their portfolio VICTORIA, A1 2,243,7562.2m $226.9m $226.9m 1.85% Reduced -159.7k -159,708
39 DIMENSIONAL FUND ADVISORS LP 0.06% of their portfolio AUSTIN, TX 2,182,2762.2m $220.7m $220.7m 0.06% Reduced -64.3k -64,324
40 CREDIT SUISSE AG/ 0.21% of their portfolio ZURICH, V8 2,102,7512.1m $212.7m $212.7m 0.21% Reduced -153.1k -153,098
41 LETKO, BROSSEAU & ASSOCIATES INC 3.84% of their portfolio MONTREAL, A8 2,075,1882.1m $210.9m $210.9m 3.84% Added +74.9k +74,854
42 BANK OF AMERICA CORP /DE/ 0.02% of their portfolio CHARLOTTE, NC 1,950,4832.0m $197.3m $197.3m 0.02% Reduced -404.5k -404,485
43 GUARDIAN CAPITAL LP 6.77% of their portfolio TORONTO, A6 1,856,8441.9m $188.7m $188.7m 6.77% Added +45.6k +45,629
44 Clearbridge Investments, LLC 0.16% of their portfolio NEW YORK, NY 1,791,1651.8m $181.1m $181.1m 0.16% New
45 ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.18% of their portfolio BOSTON, MA 1,698,2581.7m $171.7m $171.7m 0.18% Added +545.8k +545,754
46 Bank of New York Mellon Corp 0.03% of their portfolio NEW YORK, NY 1,604,5411.6m $162.3m $162.3m 0.03% Reduced -61.6k -61,650
47 ALLIANCEBERNSTEIN L.P. 0.06% of their portfolio NASHVILLE, TN 1,518,6011.5m $153.6m $153.6m 0.06% Added +25.6k +25,573
48 CIDEL ASSET MANAGEMENT INC 6.37% of their portfolio TORONTO, A6 1,463,3341.5m $148.7m $148.7m 6.37% Reduced -21.5k -21,512
49 OMERS ADMINISTRATION Corp 1.84% of their portfolio TORONTO, A6 1,434,3061.4m $145.8m $145.8m 1.84% Reduced -146.6k -146,633
50 Value Partners Investments Inc. 5.84% of their portfolio WINNIPEG, A2 1,434,2771.4m $141.9m $141.9m 5.84% Added +678.3k +678,298
51 MONTRUSCO BOLTON INVESTMENTS INC. 1.70% of their portfolio MONTREAL, A8 1,351,7901.4m $137.4m $137.4m 1.70% Reduced -94.6k -94,591
52 Nuveen Asset Management, LLC 0.04% of their portfolio CHICAGO, IL 1,331,7551.3m $135.3m $135.3m 0.04% New
53 Canoe Financial LP 2.60% of their portfolio CALGARY, A0 1,310,6031.3m $132.5m $132.5m 2.60% Reduced -43.6k -43,576
54 HSBC HOLDINGS PLC 0.12% of their portfolio LONDON, X0 1,284,8051.3m $130.0m $130.0m 0.12% Added +48.6k +48,583
55 INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC 0.16% of their portfolio ORLANDO, FL 1,220,4411.2m $1.3m $1.3m 0.16% New
56 Cardinal Capital Management, Inc. 5.67% of their portfolio WINNIPEG, A2 1,179,6581.2m $119.7m $119.7m 5.67% Reduced -21.0k -21,019
57 DEUTSCHE BANK AG\ 0.06% of their portfolio FRANKFURT AM MAIN, 2M 1,169,7701.2m $118.3m $118.3m 0.06% Added +27.4k +27,359
58 Korea Investment CORP 0.30% of their portfolio SEOUL, M5 1,120,5801.1m $113.9m $113.9m 0.30% Reduced -121.8k -121,835
59 Amundi 0.05% of their portfolio Paris, I0 1,103,2181.1m $111.4m $111.4m 0.05% Added +121.2k +121,247
60 Scheer, Rowlett & Associates Investment Management Ltd. 8.30% of their portfolio TORONTO, A6 1,086,8001.1m $109.9m $109.9m 8.30% Added +301.6k +301,616
61 BlackRock Inc. 0.00% of their portfolio New York, NY 1,079,0071.1m $109.1m $109.1m 0.00% Added +75.0k +75,026
62 Triasima Portfolio Management inc. 8.24% of their portfolio MONTREAL, A8 984,891984.9k $99.8m $99.8m 8.24% Added +51.0k +50,995
63 Public Sector Pension Investment Board 0.75% of their portfolio MONTREAL, A8 968,346968.3k $98.4m $98.4m 0.75% Reduced -203.6k -203,557
64 Russell Investments Group, Ltd. 0.17% of their portfolio Seattle, WA 955,746955.7k $97.1m $97.1m 0.17% Added +62.4k +62,447
65 CANADA LIFE ASSURANCE Co 0.20% of their portfolio WINNIPEG, A2 900,386900.4k $90.9m $90.9m 0.20% Reduced -31.2k -31,188
66 TWO SIGMA INVESTMENTS, LP 0.21% of their portfolio NEW YORK, NY 865,120865.1k $87.5m $87.5m 0.21% Reduced -58.2k -58,200
67 DekaBank Deutsche Girozentrale 0.18% of their portfolio FRANKFURT, 2M 848,699848.7k $85.5m $85.5m 0.18% Reduced -33.4k -33,364
68 Addenda Capital Inc. 4.38% of their portfolio MONTREAL, A8 836,019836.0k $112.0m $112.0m 4.38% Added +17.0k +16,964
69 CAPTRUST FINANCIAL ADVISORS 0.29% of their portfolio RALEIGH, NC 831,470831.5k $84.1m $84.1m 0.29% Added +458.9k +458,942
70 REGIONS FINANCIAL CORP 0.66% of their portfolio BIRMINGHAM, AL 794,621794.6k $80.4m $80.4m 0.66% Unchanged
71 State of Tennessee, Department of Treasury 0.32% of their portfolio NASHVILLE, TN 794,392794.4k $80.7m $80.7m 0.32% Unchanged
72 Dixon Mitchell Investment Counsel Inc. 4.19% of their portfolio VANCOUVER, A1 774,552774.6k $78.7m $78.7m 4.19% Added +55.3k +55,291
73 AXA S.A. 0.12% of their portfolio PARIS, I0 766,260766.3k $77.5m $77.5m 0.12% Added +344.5k +344,470
74 FIRST TRUST ADVISORS LP 0.08% of their portfolio Wheaton, IL 688,711688.7k $69.7m $69.7m 0.08% Reduced -92.4k -92,420
75 Burgundy Asset Management Ltd. 0.77% of their portfolio Toronto, A6 682,751682.8k $69.2m $69.2m 0.77% Added +116.3k +116,253
76 BANK OF NOVA SCOTIA TRUST CO 7.63% of their portfolio TORONTO, A6 672,589672.6k $68.0m $68.0m 7.63% Reduced -8.4k -8,419
77 FRANKLIN RESOURCES INC 0.03% of their portfolio San Mateo, CA 650,597650.6k $65.8m $65.8m 0.03% Reduced -1.8m -1,804,258
78 NORTHERN TRUST CORP 0.01% of their portfolio CHICAGO, IL 650,254650.3k $65.8m $65.8m 0.01% Added +41.5k +41,467
79 MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd 7.97% of their portfolio MISSISSAUGA, A6 649,472649.5k $65.7m $65.7m 7.97% Reduced -121.9k -121,877
80 QV Investors Inc. 5.38% of their portfolio CALGARY, A0 587,553587.6k $59.7m $59.7m 5.38% Reduced -7.4k -7,434
81 AVIVA PLC 0.21% of their portfolio LONDON, X0 586,794586.8k $59.5m $59.5m 0.21% Added +56.2k +56,166
82 GUARDIAN CAPITAL ADVISORS LP 6.18% of their portfolio TORONTO, A6 577,649577.6k $59.3m $59.3m 6.18% Reduced -1.3k -1,298
83 Pictet Asset Management Holding SA 0.06% of their portfolio CAROUGE, V8 520,070520.1k $52.9m $52.9m 0.06% Added +15.5k +15,547
84 Northwest & Ethical Investments L.P. 1.60% of their portfolio TORONTO, A6 513,548513.5k $51.9m $51.9m 1.60% Reduced -20.4k -20,411
85 Nexus Investment Management ULC 5.27% of their portfolio TORONTO, A6 497,989498.0k $50.5m $50.5m 5.27% Reduced -1.7k -1,675
86 Zurcher Kantonalbank (Zurich Cantonalbank) 0.19% of their portfolio ZURICH, V8 480,825480.8k $48.9m $48.9m 0.19% Added +15.0k +15,041
87 MILLER HOWARD INVESTMENTS INC /NY 1.69% of their portfolio KINGSTON, NY 478,392478.4k $48.4m $48.4m 1.69% Added +10.1k +10,109
88 UBS Group AG 0.02% of their portfolio ZURICH, V8 469,632469.6k $47.5m $47.5m 0.02% Added +99.0k +98,983
89 INTACT INVESTMENT MANAGEMENT INC. 1.85% of their portfolio MONTREAL, A8 452,950452.9k $45.8m $45.8m 1.85% Reduced -112.4k -112,425
90 FORSTA AP-FONDEN 0.41% of their portfolio STOCKHOLM, V7 400,100400.1k $40.7m $40.7m 0.41% Reduced -19.6k -19,600
91 Twin Tree Management, LP 0.73% of their portfolio DALLAS, TX 397,966398.0k $40.2m $40.2m 0.73% Added +252.4k +252,403
92 Skandinaviska Enskilda Banken AB (publ) 0.21% of their portfolio STOCKHOLM, V7 364,008364.0k $36.9m $36.9m 0.21% Reduced -13.3k -13,339
93 LANARK FINANCIAL, INC. 3.69% of their portfolio BIRMINGHAM, AL 362,174362.2k $36.6m $36.6m 3.69% Reduced -30.5k -30,497
94 Cumberland Partners Ltd 2.93% of their portfolio TORONTO, A6 357,428357.4k $32.0m $32.0m 2.93% Reduced -8.7k -8,675
95 Capital Research Global Investors 0.01% of their portfolio Los Angeles, CA 341,517341.5k $34.5m $34.5m 0.01% New
96 VAN LANSCHOT KEMPEN INVESTMENT MANAGEMENT N.V. 0.64% of their portfolio AMSTERDAM, P7 341,162341.2k $45.7m $45.7m 0.64% Added +9.9k +9,873
97 RAYMOND JAMES & ASSOCIATES 0.03% of their portfolio ST PETERSBURG, FL 338,725338.7k $34.3m $34.3m 0.03% Reduced -10.8k -10,794
98 Galibier Capital Management Ltd. 8.47% of their portfolio TORONTO, A6 321,376321.4k $32.7m $32.7m 8.47% Added +317.5k +317,466
99 Rathbones Group PLC 0.20% of their portfolio Liverpool, X0 301,173301.2k $30.6m $30.6m 0.20% Reduced -12.9k -12,867
100 Waratah Capital Advisors Ltd. 1.65% of their portfolio TORONTO, A6 285,410285.4k $28.9m $28.9m 1.65% Added +49.3k +49,266