ROYAL BK CDA RY
COM · Common Stock · CUSIP 780087102 · ISIN CA7800871021
Financial institution in Canada
* 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 ($1.7bn this quarter). Holder counts are more reliable. Shares outstanding: 1.4bn as of 2024-10-31, 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 ≈ $120.67. Options: 28 managers hold calls ($1.2bn notional), 26 hold puts ($923.1m).
Trends to Q4 2024
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 612 |
| Q4 2022 | 658 |
| Q1 2023 | 662 |
| Q2 2023 | 651 |
| Q3 2023 | 644 |
| Q4 2023 | 679 |
| Q1 2024 | 666 |
| Q2 2024 | 677 |
| Q3 2024 | 724 |
| Q4 2024 | 778 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q1 2023 | 266 | 261 |
| Q2 2023 | 246 | 277 |
| Q3 2023 | 237 | 285 |
| Q4 2023 | 277 | 273 |
| Q1 2024 | 253 | 283 |
| Q2 2024 | 295 | 269 |
| Q3 2024 | 306 | 265 |
| Q4 2024 | 316 | 277 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q1 2024 | $751.0m | $334.8m | 0.45 |
| Q2 2024 | $611.3m | $425.4m | 0.70 |
| Q3 2024 | $906.2m | $667.6m | 0.74 |
| Q4 2024 | $1.2bn | $923.1m | 0.79 |
Biggest buyers
| MACKENZIE FINANCIAL CORP | Added | +45.2m |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | Added | +2.8m |
| GEODE CAPITAL MANAGEMENT, LLC | Added | +2.0m |
| NATIONAL BANK OF CANADA /FI/ | Added | +1.4m |
| APG Asset Management N.V. | Added | +1.3m |
| VANGUARD GROUP INC | Added | +1.1m |
| Connor, Clark & Lunn Investment Management Ltd. | Added | +921.3k |
| MUFG SECURITIES (CANADA), LTD. | Added | +904.9k |
| MILLENNIUM MANAGEMENT LLC | New | +892.7k |
| Hillsdale Investment Management Inc. | Added | +689.9k |
Biggest sellers
| GOLDMAN SACHS GROUP INC | Reduced | -9.3m |
| JPMORGAN CHASE & CO | Reduced | -6.5m |
| CIBC WORLD MARKET INC. | Reduced | -5.1m |
| BANK OF AMERICA CORP /DE/ | Reduced | -4.3m |
| TORONTO DOMINION BANK | Reduced | -3.9m |
| BANK OF MONTREAL /CAN/ | Reduced | -3.5m |
| BANK OF NOVA SCOTIA | Reduced | -2.7m |
| Beutel, Goodman & Co Ltd. | Reduced | -1.9m |
| FIL Ltd | Reduced | -1.6m |
| FMR LLC | Reduced | -1.5m |
Biggest calls
| CIBC WORLD MARKET INC. | Added | $284.4m2.4m shares |
| TORONTO DOMINION BANK | New | $243.5m2.0m shares |
| NATIONAL BANK OF CANADA /FI/ | New | $98.9m8.2k shares |
| D. E. Shaw & Co., Inc. | Added | $93.3m774.1k shares |
| SIG North Trading, ULC | Reduced | $74.9m621.2k shares |
| BANK OF MONTREAL /CAN/ | Reduced | $66.2m549.9k shares |
| ROYAL BANK OF CANADA | Reduced | $52.1m432.1k shares |
| CITADEL ADVISORS LLC | Added | $43.7m362.5k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $43.3m359.2k shares |
| JANE STREET GROUP, LLC | Reduced | $40.3m334.8k shares |
Biggest puts
| SIG North Trading, ULC | Added | $176.8m1.5m shares |
| BANK OF MONTREAL /CAN/ | Added | $164.1m1.4m shares |
| TORONTO DOMINION BANK | New | $154.4m1.3m shares |
| D. E. Shaw & Co., Inc. | Added | $89.2m740.0k shares |
| MILLENNIUM MANAGEMENT LLC | Added | $86.8m501.0k shares |
| ROYAL BANK OF CANADA | Added | $60.4m501.0k shares |
| CIBC WORLD MARKET INC. | Unchanged | $51.8m430.1k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $33.3m276.0k shares |
| Genus Capital Management Inc. | Reduced | $20.9m173.1k shares |
| PEAK6 LLC | First filing | $17.8m147.4k 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 2024
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 2024.
Holders, Q4 2024
| Manager | Shares | Change |
|---|---|---|
| ROYAL BANK OF CANADA 1.92% of their portfolio | 73.5m $8.9bn | Reduced -958.7k |
| MACKENZIE FINANCIAL CORP 3.83% of their portfolio | 69.8m $8.4bn | Added +45.2m |
| BANK OF MONTREAL /CAN/ 4.02% of their portfolio | 67.2m $8.1bn | Reduced -3.5m |
| VANGUARD GROUP INC 0.12% of their portfolio | 59.2m $7.1bn | Added +1.1m |
| TD Asset Management Inc 3.33% of their portfolio | 31.2m $3.8bn | Reduced -41.5k |
| CIBC WORLD MARKET INC. 7.38% of their portfolio | 26.6m $3.2bn | Reduced -5.1m |
| FIL Ltd 2.51% of their portfolio | 22.3m $2.7bn | Reduced -1.6m |
| NORGES BANK 0.32% of their portfolio | 20.1m $2.4bn | Reduced -26.6k |
| NATIONAL BANK OF CANADA /FI/ 2.85% of their portfolio | 18.3m $2.2bn | Added +1.4m |
| 1832 Asset Management L.P. 3.64% of their portfolio | 16.9m $2.0bn | Reduced -1.3m |
| FMR LLC 0.12% of their portfolio | 16.3m $2.0bn | Reduced -1.5m |
| BANK OF NOVA SCOTIA 3.28% of their portfolio | 15.6m $1.9bn | Reduced -2.7m |
| CIBC Asset Management Inc 5.27% of their portfolio | 13.3m $1.6bn | Reduced -294.8k |
| Federation des caisses Desjardins du Quebec 7.49% of their portfolio | 12.2m $1.5bn | Reduced -211.3k |
| TORONTO DOMINION BANK 2.76% of their portfolio | 12.0m $1.4bn | Reduced -3.9m |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 1.20% of their portfolio | 11.5m $1.4bn | Reduced -522.1k |
| Connor, Clark & Lunn Investment Management Ltd. 6.05% of their portfolio | 11.1m $1.3bn | Added +921.3k |
| SCOTIA CAPITAL INC. 5.64% of their portfolio | 8.9m $1.1bn | Added +169.4k |
| GEODE CAPITAL MANAGEMENT, LLC 0.08% of their portfolio | 8.4m $1.0bn | Added +2.0m |
| Legal & General Group Plc 0.26% of their portfolio | 8.2m $990.5m | Added +163.6k |
| Capital World Investors 0.15% of their portfolio | 8.0m $967.9m | Reduced -716.6k |
| Beutel, Goodman & Co Ltd. 4.89% of their portfolio | 7.5m $899.0m | Reduced -1.9m |
| WELLINGTON MANAGEMENT GROUP LLP 0.16% of their portfolio | 7.3m $873.9m | Reduced -863.1k |
| JPMORGAN CHASE & CO 0.06% of their portfolio | 6.2m $745.6m | Reduced -6.5m |
| GQG Partners LLC 1.04% of their portfolio | 5.8m $698.6m | Added +51.3k |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 1.46% of their portfolio | 5.7m $682.0m | Added +2.8m |
| TD Waterhouse Canada Inc. 5.30% of their portfolio | 5.5m $656.5m | Reduced -80.6k |
| Fiera Capital Corp 1.76% of their portfolio | 4.6m $558.0m | Reduced -126.2k |
| Invesco Ltd. 0.08% of their portfolio | 3.8m $456.7m | Added +172.8k |
| Alberta Investment Management Corp 2.88% of their portfolio | 3.6m $431.9m | Added +15.3k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.08% of their portfolio | 3.5m $427.6m | Added +64.5k |
| MORGAN STANLEY 0.03% of their portfolio | 3.4m $409.6m | Added +40.5k |
| CANADA PENSION PLAN INVESTMENT BOARD 0.36% of their portfolio | 3.1m $373.6m | Unchanged |
| GOLDMAN SACHS GROUP INC 0.07% of their portfolio | 3.1m $370.3m | Reduced -9.3m |
| BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 1.98% of their portfolio | 2.8m $332.7m | Reduced -762.7k |
| FRANKLIN RESOURCES INC 0.09% of their portfolio | 2.7m $328.6m | Added +54.3k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.10% of their portfolio | 2.6m $316.7m | Reduced -84.0k |
| Caisse de depot et placement du Quebec 0.61% of their portfolio | 2.4m $293.9m | Added +102.4k |
| BANK OF AMERICA CORP /DE/ 0.03% of their portfolio | 2.3m $274.9m | Reduced -4.3m |
| AGF MANAGEMENT LTD 1.54% of their portfolio | 2.2m $310.6m | Reduced -27.9k |
| DIMENSIONAL FUND ADVISORS LP 0.06% of their portfolio | 2.2m $261.8m | Added +5.8k |
| MUFG SECURITIES (CANADA), LTD. 9.40% of their portfolio | 2.2m $260.4m | Added +904.9k |
| JARISLOWSKY, FRASER Ltd 1.42% of their portfolio | 2.0m $243.4m | Reduced -51.7k |
| LETKO, BROSSEAU & ASSOCIATES INC 4.19% of their portfolio | 1.8m $216.8m | Reduced -38.6k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.05% of their portfolio | 1.7m $206.9m | Reduced -91.4k |
| DEUTSCHE BANK AG\ 0.08% of their portfolio | 1.7m $198.9m | Added +157.0k |
| Nuveen Asset Management, LLC 0.06% of their portfolio | 1.6m $198.8m | Added +5.8k |
| GUARDIAN CAPITAL LP 7.34% of their portfolio | 1.6m $197.3m | Reduced -12.3k |
| Clearbridge Investments, LLC 0.15% of their portfolio | 1.5m $183.6m | Reduced -179.3k |
| APG Asset Management N.V. 0.46% of their portfolio | 1.4m $166.1m | Added +1.3m |
| Amundi 0.06% of their portfolio | 1.4m $165.8m | Reduced -225.9k |
| Bank of New York Mellon Corp 0.03% of their portfolio | 1.3m $155.0m | Added +72.8k |
| Scheer, Rowlett & Associates Investment Management Ltd. 10.92% of their portfolio | 1.2m $149.7m | Added +13.8k |
| Canoe Financial LP 2.36% of their portfolio | 1.2m $144.8m | Reduced -12.3k |
| BlackRock, Inc. 0.00% of their portfolio | 1.2m $143.6m | Added +14.7k |
| NORTHERN TRUST CORP 0.02% of their portfolio | 1.1m $135.0m | Added +439.1k |
| OMERS ADMINISTRATION Corp 1.17% of their portfolio | 1.1m $133.6m | Reduced -16.1k |
| Korea Investment CORP 0.31% of their portfolio | 1.1m $130.7m | Reduced -48.4k |
| CANADA LIFE ASSURANCE Co 0.22% of their portfolio | 1.1m $129.0m | Added +92.5k |
| Cardinal Capital Management, Inc. 4.16% of their portfolio | 1.0m $122.5m | Reduced -154.4k |
| DekaBank Deutsche Girozentrale 0.21% of their portfolio | 945.2k $113.0m | Unchanged |
| UBS Group AG 0.02% of their portfolio | 901.5k $108.6m | Added +232.8k |
| MILLENNIUM MANAGEMENT LLC 0.09% of their portfolio | 892.7k $107.6m | New |
| ALLIANCEBERNSTEIN L.P. 0.04% of their portfolio | 881.6k $106.2m | Added +7.2k |
| Hillsdale Investment Management Inc. 5.37% of their portfolio | 881.1k $106.1m | Added +689.9k |
| AVIVA PLC 0.27% of their portfolio | 852.3k $102.6m | Added +110.8k |
| Russell Investments Group, Ltd. 0.14% of their portfolio | 835.4k $100.7m | Reduced -86.3k |
| Dixon Mitchell Investment Counsel Inc. 4.59% of their portfolio | 824.2k $99.4m | Added +6.3k |
| HSBC HOLDINGS PLC 0.06% of their portfolio | 820.6k $98.9m | Added +82.4k |
| State of Tennessee, Department of Treasury 0.36% of their portfolio | 813.8k $98.1m | Added +4.6k |
| REGIONS FINANCIAL CORP 0.70% of their portfolio | 793.7k $95.6m | Unchanged |
| INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC 0.07% of their portfolio | 790.4k $830.3k | Reduced -437.9k |
| Addenda Capital Inc. 4.65% of their portfolio | 760.0k $131.7m | Reduced -20.5k |
| BANK OF NOVA SCOTIA TRUST CO 8.41% of their portfolio | 661.4k $79.7m | Reduced -3.7k |
| Burgundy Asset Management Ltd. 0.79% of their portfolio | 648.9k $78.2m | Reduced -2.6k |
| MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd 8.63% of their portfolio | 591.6k $71.3m | Reduced -14.6k |
| J. Safra Sarasin Holding AG 1.20% of their portfolio | 589.4k $71.0m | Added +4.3k |
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC 0.17% of their portfolio | 584.9k $70.4m | New |
| CIDEL ASSET MANAGEMENT INC 4.66% of their portfolio | 575.3k $69.3m | Added +3.2k |
| Clark Capital Management Group, Inc. 0.47% of their portfolio | 561.6k $67.7m | Added +8.4k |
| Pictet Asset Management Holding SA 0.07% of their portfolio | 528.6k $63.7m | Reduced -6.3k |
| Zurcher Kantonalbank (Zurich Cantonalbank) 0.18% of their portfolio | 521.4k $62.8m | Added +1.9k |
| Guardian Partners Inc. 6.20% of their portfolio | 501.0k $61.0m | First filing |
| RAYMOND JAMES FINANCIAL INC 0.02% of their portfolio | 498.2k $60.0m | First filing |
| MILLER HOWARD INVESTMENTS INC /NY 1.94% of their portfolio | 489.3k $59.0m | Reduced -6.4k |
| CITIGROUP INC 0.06% of their portfolio | 475.4k $57.3m | Added +164.3k |
| UniSuper Management Pty Ltd 0.58% of their portfolio | 466.2k $80.8m | Added +98.3k |
| Nexus Investment Management ULC 5.40% of their portfolio | 448.8k $54.0m | Reduced -22.5k |
| Focus Partners Wealth 0.07% of their portfolio | 439.9k $53.7m | Added +404.6k |
| Northwest & Ethical Investments L.P. 1.42% of their portfolio | 434.2k $52.3m | Added +5.2k |
| MONTRUSCO BOLTON INVESTMENTS INC. 0.63% of their portfolio | 433.0k $52.2m | Added +75.0k |
| Fisher Asset Management, LLC 0.02% of their portfolio | 432.1k $52.1m | Added +20.2k |
| BESSEMER GROUP INC 0.08% of their portfolio | 417.2k $50.2m | Added +358.8k |
| MARSHALL WACE, LLP 0.06% of their portfolio | 416.4k $50.2m | Added +332.8k |
| Cumberland Partners Ltd 3.43% of their portfolio | 409.2k $49.2m | Added +630 |
| FIRST TRUST ADVISORS LP 0.04% of their portfolio | 408.9k $49.3m | Reduced -8.0k |
| AXA S.A. 0.15% of their portfolio | 397.9k $48.0m | Added +6.5k |
| FORSTA AP-FONDEN 0.31% of their portfolio | 365.9k $44.1m | Added +22.4k |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.15% of their portfolio | 359.0k $43.3m | Added +22.3k |
| Capital Research Global Investors 0.01% of their portfolio | 346.2k $41.7m | Added +658 |