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 ($2.0bn this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $131.88. Options: 27 managers hold calls ($1.1bn notional), 23 hold puts ($795.4m).
Trends to Q2 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 |
| Q2 2025 | 801 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| 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 |
| Q2 2025 | 359 | 304 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2024 | $906.2m | $667.6m | 0.74 |
| Q4 2024 | $1.2bn | $923.1m | 0.79 |
| Q1 2025 | $748.5m | $643.9m | 0.86 |
| Q2 2025 | $1.1bn | $795.4m | 0.73 |
Biggest buyers
| ROYAL BANK OF CANADA | Added | +74.2m |
| Fisher Asset Management, LLC | Added | +5.3m |
| GOLDMAN SACHS GROUP INC | Added | +2.6m |
| PICTON MAHONEY ASSET MANAGEMENT | New | +2.5m |
| VANGUARD GROUP INC | Added | +2.4m |
| GEODE CAPITAL MANAGEMENT, LLC | Added | +1.9m |
| Public Sector Pension Investment Board | Added | +1.8m |
| D. E. Shaw & Co., Inc. | Added | +1.0m |
| HSBC HOLDINGS PLC | Added | +642.0k |
| Federation des caisses Desjardins du Quebec | Added | +559.6k |
Biggest sellers
| BANK OF MONTREAL /CAN/ | Reduced | -6.0m |
| WELLINGTON MANAGEMENT GROUP LLP | Reduced | -3.4m |
| TORONTO DOMINION BANK | Reduced | -3.3m |
| CIBC WORLD MARKET INC. | Reduced | -3.2m |
| Capital World Investors | Reduced | -2.2m |
| NATIONAL BANK OF CANADA /FI/ | Reduced | -1.6m |
| CIBC Asset Management Inc | Reduced | -1.3m |
| Alberta Investment Management Corp | Reduced | -1.3m |
| FMR LLC | Reduced | -1.2m |
| MACKENZIE FINANCIAL CORP | Reduced | -812.8k |
Biggest calls
| TORONTO DOMINION BANK | Added | $212.0m1.6m shares |
| CIBC WORLD MARKET INC. | Added | $202.2m1.5m shares |
| SIG North Trading, ULC | Added | $196.4m1.5m shares |
| NATIONAL BANK OF CANADA /FI/ | Added | $121.8m9.2k shares |
| ROYAL BANK OF CANADA | Added | $105.5m802.0k shares |
| D. E. Shaw & Co., Inc. | Reduced | $37.5m284.7k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $34.2m259.9k shares |
| CITADEL ADVISORS LLC | Added | $33.1m251.6k shares |
| Periscope Capital Inc. | Added | $31.0m235.0k shares |
| PEAK6 LLC | Added | $24.6m187.0k shares |
Biggest puts
| SIG North Trading, ULC | Reduced | $174.5m1.3m shares |
| TORONTO DOMINION BANK | Added | $139.4m1.1m shares |
| D. E. Shaw & Co., Inc. | Reduced | $117.7m892.1k shares |
| BANK OF MONTREAL /CAN/ | Unchanged | $105.5m800.0k shares |
| MILLENNIUM MANAGEMENT LLC | Reduced | $101.5m574.0k shares |
| ROYAL BANK OF CANADA | Added | $52.9m402.0k shares |
| CIBC WORLD MARKET INC. | Reduced | $42.3m321.6k shares |
| PEAK6 LLC | Added | $13.6m103.6k shares |
| NATIONAL BANK OF CANADA /FI/ | Reduced | $11.2m848 shares |
| CITADEL ADVISORS LLC | Added | $10.3m78.3k 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.
Insider purchases and sales in Q2 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 Q2 2025.
Holders, Q2 2025
| Manager | Shares | Change |
|---|---|---|
| ROYAL BANK OF CANADA 1.87% of their portfolio | 146.4m $19.3bn | Added +74.2m |
| VANGUARD GROUP INC 0.14% of their portfolio | 65.0m $8.6bn | Added +2.4m |
| BANK OF MONTREAL /CAN/ 4.22% of their portfolio | 63.7m $8.4bn | Reduced -6.0m |
| TD Asset Management Inc 3.57% of their portfolio | 31.8m $4.2bn | Added +297.0k |
| CIBC WORLD MARKET INC. 6.88% of their portfolio | 23.6m $3.1bn | Reduced -3.2m |
| MACKENZIE FINANCIAL CORP 3.82% of their portfolio | 22.4m $3.0bn | Reduced -812.8k |
| FIL Ltd 2.42% of their portfolio | 21.4m $2.8bn | Added +25.1k |
| NORGES BANK 0.32% of their portfolio | 19.7m $2.6bn | Reduced -67.7k |
| NATIONAL BANK OF CANADA /FI/ 2.42% of their portfolio | 17.0m $2.2bn | Reduced -1.6m |
| BANK OF NOVA SCOTIA 4.48% of their portfolio | 16.6m $2.2bn | Reduced -205.1k |
| 1832 Asset Management L.P. 3.78% of their portfolio | 16.5m $2.2bn | Reduced -142.4k |
| FMR LLC 0.11% of their portfolio | 14.1m $1.9bn | Reduced -1.2m |
| Federation des caisses Desjardins du Quebec 7.62% of their portfolio | 13.2m $1.7bn | Added +559.6k |
| GEODE CAPITAL MANAGEMENT, LLC 0.11% of their portfolio | 11.4m $1.5bn | Added +1.9m |
| TORONTO DOMINION BANK 3.18% of their portfolio | 11.2m $1.5bn | Reduced -3.3m |
| CIBC Asset Management Inc 4.62% of their portfolio | 11.1m $1.5bn | Reduced -1.3m |
| Connor, Clark & Lunn Investment Management Ltd. 5.02% of their portfolio | 10.8m $1.4bn | Reduced -622.3k |
| GOLDMAN SACHS GROUP INC 0.20% of their portfolio | 9.6m $1.3bn | Added +2.6m |
| SCOTIA CAPITAL INC. 5.63% of their portfolio | 9.1m $1.2bn | Added +141.8k |
| Legal & General Group Plc 0.26% of their portfolio | 8.0m $1.1bn | Reduced -438.7k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.93% of their portfolio | 7.9m $1.0bn | Reduced -355.5k |
| CANADA PENSION PLAN INVESTMENT BOARD 0.77% of their portfolio | 6.9m $905.7m | Added +521.1k |
| Beutel, Goodman & Co Ltd. 4.93% of their portfolio | 6.6m $865.1m | Reduced -228.1k |
| JPMORGAN CHASE & CO 0.06% of their portfolio | 6.6m $862.4m | Added +97.7k |
| Fisher Asset Management, LLC 0.30% of their portfolio | 5.7m $752.9m | Added +5.3m |
| TD Waterhouse Canada Inc. 5.13% of their portfolio | 5.4m $715.8m | Added +47.2k |
| Fiera Capital Corp 2.12% of their portfolio | 4.8m $626.2m | Added +12.8k |
| MORGAN STANLEY 0.04% of their portfolio | 4.4m $572.3m | Reduced -775.1k |
| WELLINGTON MANAGEMENT GROUP LLP 0.10% of their portfolio | 4.2m $552.0m | Reduced -3.4m |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.08% of their portfolio | 3.7m $488.5m | Added +138.5k |
| Invesco Ltd. 0.08% of their portfolio | 3.4m $447.6m | Reduced -111.3k |
| BANK OF AMERICA CORP /DE/ 0.03% of their portfolio | 3.1m $404.4m | Added +177.4k |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.80% of their portfolio | 3.0m $400.1m | Reduced -618.0k |
| BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 2.17% of their portfolio | 2.8m $372.7m | Reduced -60.2k |
| AGF MANAGEMENT LTD 1.85% of their portfolio | 2.8m $408.3m | Added +234.8k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.11% of their portfolio | 2.6m $338.9m | Reduced -54.3k |
| FRANKLIN RESOURCES INC 0.09% of their portfolio | 2.6m $336.9m | Added +8.5k |
| PICTON MAHONEY ASSET MANAGEMENT 4.65% of their portfolio | 2.5m $330.0m | New |
| MUFG SECURITIES (CANADA), LTD. 9.60% of their portfolio | 2.4m $315.6m | Added +239.9k |
| Alberta Investment Management Corp 2.47% of their portfolio | 2.4m $315.2m | Reduced -1.3m |
| DEUTSCHE BANK AG\ 0.11% of their portfolio | 2.3m $300.2m | Added +245.6k |
| DIMENSIONAL FUND ADVISORS LP 0.07% of their portfolio | 2.2m $295.5m | Reduced -229 |
| JARISLOWSKY, FRASER Ltd 1.49% of their portfolio | 2.0m $260.9m | Reduced -13.7k |
| Caisse de depot et placement du Quebec 0.54% of their portfolio | 1.9m $255.0m | Reduced -216.8k |
| Public Sector Pension Investment Board 1.09% of their portfolio | 1.9m $254.8m | Added +1.8m |
| Amundi 0.08% of their portfolio | 1.8m $240.7m | Added +480.6k |
| HSBC HOLDINGS PLC 0.14% of their portfolio | 1.7m $218.8m | Added +642.0k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.04% of their portfolio | 1.6m $213.1m | Added +128.5k |
| GUARDIAN CAPITAL LP 7.44% of their portfolio | 1.6m $210.5m | Added +30.8k |
| LETKO, BROSSEAU & ASSOCIATES INC 3.85% of their portfolio | 1.5m $201.0m | Reduced -17.6k |
| Clearbridge Investments, LLC 0.15% of their portfolio | 1.4m $180.6m | Reduced -73.0k |
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC 0.47% of their portfolio | 1.4m $178.5m | Reduced -320.8k |
| Bank of New York Mellon Corp 0.03% of their portfolio | 1.3m $177.1m | Added +40.4k |
| Scheer, Rowlett & Associates Investment Management Ltd. 11.26% of their portfolio | 1.3m $173.8m | Added +35.2k |
| BlackRock, Inc. 0.00% of their portfolio | 1.3m $172.2m | Added +11.4k |
| NORTHERN TRUST CORP 0.02% of their portfolio | 1.2m $154.8m | Reduced -91.6k |
| CANADA LIFE ASSURANCE Co 0.24% of their portfolio | 1.2m $152.0m | Added +75.1k |
| D. E. Shaw & Co., Inc. 0.15% of their portfolio | 1.1m $146.5m | Added +1.0m |
| ALLIANCEBERNSTEIN L.P. 0.05% of their portfolio | 1.1m $140.2m | Reduced -22.8k |
| AVIVA PLC 0.29% of their portfolio | 1.1m $139.4m | Added +69.5k |
| Canoe Financial LP 1.95% of their portfolio | 1.0m $137.1m | Reduced -16.4k |
| Nuveen, LLC 0.04% of their portfolio | 1.0m $133.1m | Reduced -3.5k |
| Korea Investment CORP 0.30% of their portfolio | 1.0m $132.7m | Reduced -72.9k |
| AXA S.A. 0.36% of their portfolio | 955.2k $125.7m | Added +319.5k |
| DekaBank Deutsche Girozentrale 0.22% of their portfolio | 945.2k $122.8m | Reduced -4.4k |
| Cardinal Capital Management, Inc. 3.78% of their portfolio | 916.2k $120.7m | Reduced -3.2k |
| APG Asset Management N.V. 0.30% of their portfolio | 912.1k $102.2m | Reduced -563.1k |
| Dixon Mitchell Investment Counsel Inc. 4.54% of their portfolio | 888.5k $116.9m | Added +28.5k |
| AMERIPRISE FINANCIAL INC 0.03% of their portfolio | 839.3k $113.8m | Reduced -2.2k |
| Hillsdale Investment Management Inc. 4.06% of their portfolio | 833.8k $110.0m | Reduced -131.4k |
| State of Tennessee, Department of Treasury 0.39% of their portfolio | 826.2k $108.7m | Unchanged |
| REGIONS FINANCIAL CORP 0.72% of their portfolio | 793.7k $104.4m | Unchanged |
| UBS Group AG 0.02% of their portfolio | 782.5k $102.9m | Added +13.8k |
| Russell Investments Group, Ltd. 0.13% of their portfolio | 767.9k $100.9m | Added +30.0k |
| INTACT INVESTMENT MANAGEMENT INC. 3.23% of their portfolio | 723.3k $95.3m | Added +106.0k |
| Addenda Capital Inc. 4.41% of their portfolio | 684.1k $122.8m | Reduced -15.7k |
| Qube Research & Technologies Ltd 0.12% of their portfolio | 655.3k $86.3m | Reduced -42.1k |
| Burgundy Asset Management Ltd. 0.82% of their portfolio | 640.0k $84.2m | Reduced -2.3k |
| BANK OF NOVA SCOTIA TRUST CO 8.27% of their portfolio | 639.0k $84.1m | Reduced -9.6k |
| Zurcher Kantonalbank (Zurich Cantonalbank) 0.19% of their portfolio | 605.4k $79.6m | Added +56.5k |
| CIDEL ASSET MANAGEMENT INC 4.64% of their portfolio | 586.6k $77.2m | Added +9.9k |
| OMERS ADMINISTRATION Corp 0.59% of their portfolio | 568.6k $74.8m | Reduced -551.5k |
| J. Safra Sarasin Holding AG 1.29% of their portfolio | 568.5k $74.8m | Reduced -15.3k |
| Pictet Asset Management Holding SA 0.07% of their portfolio | 558.3k $73.4m | Added +8.1k |
| RENAISSANCE TECHNOLOGIES LLC 0.10% of their portfolio | 558.1k $73.4m | Added +162.2k |
| RAYMOND JAMES FINANCIAL INC 0.02% of their portfolio | 509.2k $67.0m | Added +4.4k |
| Rockefeller Capital Management L.P. 0.08% of their portfolio | 508.0k $66.8m | Added +253.8k |
| Northwest & Ethical Investments L.P. 1.63% of their portfolio | 500.2k $65.8m | Reduced -8.1k |
| MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd 7.21% of their portfolio | 495.7k $65.3m | Reduced -47.6k |
| Guardian Partners Inc. 5.69% of their portfolio | 476.4k $63.3m | Reduced -5.2k |
| UniSuper Management Pty Ltd 0.57% of their portfolio | 474.6k $85.2m | Reduced -500 |
| QV Investors Inc. 5.91% of their portfolio | 457.8k $60.2m | Added +3.5k |
| ACADIAN ASSET MANAGEMENT LLC 0.12% of their portfolio | 436.9k $57.5m | Added +163.3k |
| MONTRUSCO BOLTON INVESTMENTS INC. 0.62% of their portfolio | 424.4k $55.8m | Added +88.1k |
| FIRST TRUST ADVISORS LP 0.04% of their portfolio | 395.6k $52.1m | Reduced -26.7k |
| MILLENNIUM MANAGEMENT LLC 0.05% of their portfolio | 384.4k $50.6m | Reduced -39.1k |
| Cumberland Partners Ltd 3.39% of their portfolio | 371.2k $48.9m | Reduced -24.4k |
| Clark Capital Management Group, Inc. 0.32% of their portfolio | 354.4k $46.6m | Reduced -218.6k |
| EDMOND DE ROTHSCHILD HOLDING S.A. 0.73% of their portfolio | 349.2k $45.8m | Added +345.0k |
| CITIGROUP INC 0.03% of their portfolio | 345.3k $45.4m | Added +6.1k |