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. Implied quarter-end price ≈ $112.91. Options: 23 managers hold calls ($748.5m notional), 21 hold puts ($643.9m).
Trends to Q1 2025
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 |
| Q1 2025 | 768 |
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 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 |
| Q1 2025 | 341 | 308 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2024 | $611.3m | $425.4m | 0.70 |
| Q3 2024 | $906.2m | $667.6m | 0.74 |
| Q4 2024 | $1.2bn | $923.1m | 0.79 |
| Q1 2025 | $748.5m | $643.9m | 0.86 |
Biggest buyers
| GOLDMAN SACHS GROUP INC | Added | +4.0m |
| VANGUARD GROUP INC | Added | +3.4m |
| CANADA PENSION PLAN INVESTMENT BOARD | Added | +3.2m |
| TORONTO DOMINION BANK | Added | +2.5m |
| BANK OF MONTREAL /CAN/ | Added | +2.5m |
| MORGAN STANLEY | Added | +1.7m |
| BANK OF NOVA SCOTIA | Added | +1.2m |
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC | Added | +1.1m |
| GEODE CAPITAL MANAGEMENT, LLC | Added | +1.1m |
| AMERIPRISE FINANCIAL INC | Added | +631.0k |
Biggest sellers
| MACKENZIE FINANCIAL CORP | Reduced | -46.6m |
| Capital World Investors | Reduced | -5.8m |
| GQG Partners LLC | Reduced | -5.8m |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | Reduced | -3.2m |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | Reduced | -2.0m |
| ROYAL BANK OF CANADA | Reduced | -1.3m |
| FMR LLC | Reduced | -985.8k |
| FIL Ltd | Reduced | -886.0k |
| CIBC Asset Management Inc | Reduced | -872.1k |
| INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC | Sold out | -790.4k |
Biggest calls
| CIBC WORLD MARKET INC. | Reduced | $163.0m1.4m shares |
| TORONTO DOMINION BANK | Reduced | $121.6m1.1m shares |
| SIG North Trading, ULC | Added | $115.9m1.0m shares |
| BANK OF MONTREAL /CAN/ | Added | $70.6m626.8k shares |
| D. E. Shaw & Co., Inc. | Reduced | $63.0m559.1k shares |
| NATIONAL BANK OF CANADA /FI/ | Reduced | $60.2m5.3k shares |
| ROYAL BANK OF CANADA | Reduced | $35.1m311.0k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $27.1m240.4k shares |
| JANE STREET GROUP, LLC | Reduced | $25.0m221.9k shares |
| CITADEL ADVISORS LLC | Reduced | $16.4m145.2k shares |
Biggest puts
| SIG North Trading, ULC | Reduced | $151.1m1.3m shares |
| D. E. Shaw & Co., Inc. | Added | $105.3m935.1k shares |
| MILLENNIUM MANAGEMENT LLC | Added | $96.7m620.7k shares |
| BANK OF MONTREAL /CAN/ | Reduced | $90.1m800.0k shares |
| TORONTO DOMINION BANK | Reduced | $73.5m652.0k shares |
| CIBC WORLD MARKET INC. | Added | $70.2m622.6k shares |
| NATIONAL BANK OF CANADA /FI/ | Added | $13.8m1.2k shares |
| JANE STREET GROUP, LLC | Reduced | $10.4m92.0k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $6.6m58.4k shares |
| PEAK6 LLC | Reduced | $6.2m55.4k 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 Q1 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 Q1 2025.
Holders, Q1 2025
| Manager | Shares | Change |
|---|---|---|
| ROYAL BANK OF CANADA 1.82% of their portfolio | 72.2m $8.1bn | Reduced -1.3m |
| BANK OF MONTREAL /CAN/ 4.18% of their portfolio | 69.6m $7.8bn | Added +2.5m |
| VANGUARD GROUP INC 0.13% of their portfolio | 62.6m $7.0bn | Added +3.4m |
| TD Asset Management Inc 3.27% of their portfolio | 31.5m $3.5bn | Added +277.5k |
| CIBC WORLD MARKET INC. 6.89% of their portfolio | 26.8m $3.0bn | Added +175.5k |
| MACKENZIE FINANCIAL CORP 3.72% of their portfolio | 23.2m $2.6bn | Reduced -46.6m |
| FIL Ltd 2.29% of their portfolio | 21.4m $2.4bn | Reduced -886.0k |
| NORGES BANK 0.31% of their portfolio | 19.8m $2.2bn | Reduced -364.8k |
| NATIONAL BANK OF CANADA /FI/ 2.46% of their portfolio | 18.6m $2.1bn | Added +378.4k |
| BANK OF NOVA SCOTIA 4.25% of their portfolio | 16.8m $1.9bn | Added +1.2m |
| 1832 Asset Management L.P. 3.58% of their portfolio | 16.6m $1.9bn | Reduced -280.5k |
| FMR LLC 0.11% of their portfolio | 15.4m $1.7bn | Reduced -985.8k |
| TORONTO DOMINION BANK 4.18% of their portfolio | 14.5m $1.6bn | Added +2.5m |
| Federation des caisses Desjardins du Quebec 7.05% of their portfolio | 12.7m $1.4bn | Added +420.5k |
| CIBC Asset Management Inc 4.67% of their portfolio | 12.5m $1.4bn | Reduced -872.1k |
| Connor, Clark & Lunn Investment Management Ltd. 5.62% of their portfolio | 11.4m $1.3bn | Added +319.3k |
| GEODE CAPITAL MANAGEMENT, LLC 0.09% of their portfolio | 9.5m $1.1bn | Added +1.1m |
| SCOTIA CAPITAL INC. 5.38% of their portfolio | 8.9m $1.0bn | Added +33.2k |
| Legal & General Group Plc 0.26% of their portfolio | 8.4m $949.1m | Added +207.4k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.89% of their portfolio | 8.3m $937.1m | Reduced -3.2m |
| WELLINGTON MANAGEMENT GROUP LLP 0.17% of their portfolio | 7.6m $859.7m | Added +381.0k |
| GOLDMAN SACHS GROUP INC 0.15% of their portfolio | 7.1m $796.2m | Added +4.0m |
| Beutel, Goodman & Co Ltd. 4.42% of their portfolio | 6.8m $766.5m | Reduced -654.6k |
| JPMORGAN CHASE & CO 0.06% of their portfolio | 6.5m $728.0m | Added +271.5k |
| CANADA PENSION PLAN INVESTMENT BOARD 0.69% of their portfolio | 6.3m $715.0m | Added +3.2m |
| TD Waterhouse Canada Inc. 4.96% of their portfolio | 5.4m $605.5m | Reduced -80.7k |
| MORGAN STANLEY 0.04% of their portfolio | 5.1m $577.7m | Added +1.7m |
| Fiera Capital Corp 1.93% of their portfolio | 4.7m $534.7m | Added +108.5k |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.91% of their portfolio | 3.7m $411.5m | Reduced -2.0m |
| Alberta Investment Management Corp 2.81% of their portfolio | 3.6m $410.6m | Added +61.4k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.08% of their portfolio | 3.6m $402.6m | Added +26.8k |
| Invesco Ltd. 0.08% of their portfolio | 3.5m $396.0m | Reduced -276.0k |
| BANK OF AMERICA CORP /DE/ 0.03% of their portfolio | 2.9m $326.5m | Added +615.5k |
| BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 2.00% of their portfolio | 2.9m $325.1m | Added +123.6k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.10% of their portfolio | 2.6m $296.5m | Added +3.0k |
| AGF MANAGEMENT LTD 1.74% of their portfolio | 2.6m $329.2m | Added +351.3k |
| FRANKLIN RESOURCES INC 0.08% of their portfolio | 2.5m $286.8m | Reduced -183.0k |
| DIMENSIONAL FUND ADVISORS LP 0.06% of their portfolio | 2.2m $253.2m | Added +74.2k |
| Capital World Investors 0.04% of their portfolio | 2.2m $246.8m | Reduced -5.8m |
| MUFG SECURITIES (CANADA), LTD. 8.47% of their portfolio | 2.2m $243.0m | Reduced -3.0k |
| Caisse de depot et placement du Quebec 0.51% of their portfolio | 2.2m $242.8m | Reduced -283.0k |
| DEUTSCHE BANK AG\ 0.09% of their portfolio | 2.0m $229.5m | Added +385.6k |
| JARISLOWSKY, FRASER Ltd 1.41% of their portfolio | 2.0m $224.9m | Reduced -22.7k |
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC 0.53% of their portfolio | 1.7m $188.6m | Added +1.1m |
| GUARDIAN CAPITAL LP 6.96% of their portfolio | 1.6m $176.8m | Reduced -68.1k |
| LETKO, BROSSEAU & ASSOCIATES INC 3.70% of their portfolio | 1.5m $174.1m | Reduced -252.6k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.04% of their portfolio | 1.5m $168.1m | Reduced -225.2k |
| APG Asset Management N.V. 0.48% of their portfolio | 1.5m $153.8m | Added +48.1k |
| Clearbridge Investments, LLC 0.14% of their portfolio | 1.5m $164.3m | Reduced -65.7k |
| Amundi 0.06% of their portfolio | 1.4m $155.9m | Reduced -8.1k |
| Bank of New York Mellon Corp 0.03% of their portfolio | 1.3m $147.2m | Added +19.7k |
| BlackRock, Inc. 0.00% of their portfolio | 1.3m $146.3m | Added +106.0k |
| Scheer, Rowlett & Associates Investment Management Ltd. 10.71% of their portfolio | 1.3m $144.6m | Added +40.2k |
| NORTHERN TRUST CORP 0.02% of their portfolio | 1.3m $142.9m | Added +147.6k |
| OMERS ADMINISTRATION Corp 1.10% of their portfolio | 1.1m $126.1m | Added +11.3k |
| ALLIANCEBERNSTEIN L.P. 0.04% of their portfolio | 1.1m $122.7m | Added +207.1k |
| Korea Investment CORP 0.30% of their portfolio | 1.1m $121.8m | Reduced -2.9k |
| CANADA LIFE ASSURANCE Co 0.21% of their portfolio | 1.1m $121.8m | Added +9.2k |
| Canoe Financial LP 1.91% of their portfolio | 1.1m $118.9m | Reduced -146.4k |
| HSBC HOLDINGS PLC 0.08% of their portfolio | 1.0m $114.6m | Added +197.0k |
| Nuveen, LLC 0.03% of their portfolio | 1.0m $114.3m | First filing |
| AVIVA PLC 0.27% of their portfolio | 988.3k $111.4m | Added +136.0k |
| Hillsdale Investment Management Inc. 5.53% of their portfolio | 965.2k $108.8m | Added +84.1k |
| DekaBank Deutsche Girozentrale 0.21% of their portfolio | 949.6k $105.6m | Added +4.4k |
| Cardinal Capital Management, Inc. 3.52% of their portfolio | 919.5k $103.6m | Reduced -98.7k |
| Dixon Mitchell Investment Counsel Inc. 4.37% of their portfolio | 859.9k $96.9m | Added +35.7k |
| AMERIPRISE FINANCIAL INC 0.03% of their portfolio | 841.5k $99.9m | Added +631.0k |
| State of Tennessee, Department of Treasury 0.36% of their portfolio | 826.2k $93.1m | Added +12.4k |
| REGIONS FINANCIAL CORP 0.67% of their portfolio | 793.7k $89.5m | Unchanged |
| UBS Group AG 0.02% of their portfolio | 768.7k $86.7m | Reduced -132.7k |
| Russell Investments Group, Ltd. 0.11% of their portfolio | 737.9k $83.0m | Reduced -97.5k |
| Addenda Capital Inc. 4.20% of their portfolio | 699.9k $113.4m | Reduced -60.1k |
| Qube Research & Technologies Ltd 0.12% of their portfolio | 697.4k $78.6m | Added +354.4k |
| BANK OF NOVA SCOTIA TRUST CO 7.80% of their portfolio | 648.6k $73.1m | Reduced -12.8k |
| Quadrature Capital Ltd 1.62% of their portfolio | 643.7k $73.0m | Added +414.2k |
| Burgundy Asset Management Ltd. 0.75% of their portfolio | 642.2k $72.4m | Reduced -6.6k |
| AXA S.A. 0.24% of their portfolio | 635.7k $71.7m | Added +237.8k |
| INTACT INVESTMENT MANAGEMENT INC. 2.38% of their portfolio | 617.3k $69.5m | Added +282.7k |
| J. Safra Sarasin Holding AG 1.19% of their portfolio | 583.8k $65.7m | Reduced -5.6k |
| CIDEL ASSET MANAGEMENT INC 4.25% of their portfolio | 576.7k $65.0m | Added +1.4k |
| Clark Capital Management Group, Inc. 0.46% of their portfolio | 573.0k $64.6m | Added +11.4k |
| Pictet Asset Management Holding SA 0.07% of their portfolio | 550.2k $62.0m | Added +21.6k |
| Zurcher Kantonalbank (Zurich Cantonalbank) 0.18% of their portfolio | 548.9k $61.8m | Added +27.5k |
| MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd 7.78% of their portfolio | 543.3k $61.2m | Reduced -48.2k |
| Northwest & Ethical Investments L.P. 1.55% of their portfolio | 508.3k $57.3m | Added +74.1k |
| RAYMOND JAMES FINANCIAL INC 0.02% of their portfolio | 504.8k $56.9m | Added +6.6k |
| Guardian Partners Inc. 5.66% of their portfolio | 481.6k $54.8m | Reduced -19.4k |
| UniSuper Management Pty Ltd 0.57% of their portfolio | 475.1k $77.0m | Added +8.9k |
| QV Investors Inc. 5.17% of their portfolio | 454.3k $51.2m | New |
| Fisher Asset Management, LLC 0.02% of their portfolio | 434.3k $48.9m | Added +2.1k |
| MILLENNIUM MANAGEMENT LLC 0.05% of their portfolio | 423.5k $47.7m | Reduced -469.2k |
| FIRST TRUST ADVISORS LP 0.04% of their portfolio | 422.3k $47.6m | Added +13.5k |
| RENAISSANCE TECHNOLOGIES LLC 0.07% of their portfolio | 395.9k $44.6m | Added +122.2k |
| Cumberland Partners Ltd 3.44% of their portfolio | 395.5k $44.6m | Reduced -13.6k |
| LANARK FINANCIAL, INC. 3.48% of their portfolio | 361.8k $40.8m | Added +361.5k |
| CITADEL ADVISORS LLC 0.04% of their portfolio | 356.0k $40.1m | Added +194.6k |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.14% of their portfolio | 352.8k $39.7m | Reduced -6.2k |
| FORSTA AP-FONDEN 0.30% of their portfolio | 352.7k $39.7m | Reduced -13.2k |
| ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio | 341.8k $38.5m | Added +3.8k |
| CITIGROUP INC 0.03% of their portfolio | 339.2k $38.2m | Reduced -136.2k |