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 ($3.3bn this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $162.16. Options: 25 managers hold calls ($1.2bn notional), 26 hold puts ($726.6m).
Trends to Q1 2026
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 |
| Q3 2025 | 832 |
| Q4 2025 | 915 |
| Q1 2026 | 947 |
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 | 295 | 269 |
| Q3 2024 | 306 | 265 |
| Q4 2024 | 316 | 277 |
| Q1 2025 | 341 | 308 |
| Q2 2025 | 359 | 304 |
| Q3 2025 | 389 | 298 |
| Q4 2025 | 415 | 299 |
| Q1 2026 | 422 | 351 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2025 | $1.1bn | $795.4m | 0.73 |
| Q3 2025 | $1.1bn | $876.7m | 0.76 |
| Q4 2025 | $1.5bn | $1.2bn | 0.77 |
| Q1 2026 | $1.2bn | $726.6m | 0.59 |
Biggest buyers
| TD Waterhouse Canada Inc. | Added | +6.5m |
| Federation des caisses Desjardins du Quebec | Added | +4.1m |
| Blue Sparrow, LLC /DE | New | +3.3m |
| BANK OF MONTREAL /CAN/ | Added | +2.5m |
| Public Sector Pension Investment Board | Added | +1.6m |
| GOLDMAN SACHS GROUP INC | Added | +1.3m |
| MORGAN STANLEY | Added | +919.5k |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | Added | +767.2k |
| GEODE CAPITAL MANAGEMENT, LLC | Added | +613.5k |
| Amundi | Added | +525.1k |
Biggest sellers
| TORONTO DOMINION BANK | Reduced | -2.7m |
| BANK OF NOVA SCOTIA | Reduced | -2.5m |
| MACKENZIE FINANCIAL CORP | Reduced | -1.5m |
| FIL Ltd | Reduced | -1.1m |
| CIBC WORLD MARKET INC. | Reduced | -749.9k |
| Connor, Clark & Lunn Investment Management Ltd. | Reduced | -701.1k |
| TD Asset Management Inc | Reduced | -645.7k |
| ACADIAN ASSET MANAGEMENT LLC | Reduced | -544.1k |
| ROYAL BANK OF CANADA | Reduced | -515.3k |
| NATIONAL BANK OF CANADA /FI/ | Reduced | -435.8k |
Biggest calls
| ROYAL BANK OF CANADA | Added | $225.7m1.4m shares |
| SIG North Trading, ULC | Reduced | $171.9m1.1m shares |
| TORONTO DOMINION BANK | Reduced | $165.8m1.0m shares |
| D. E. Shaw & Co., Inc. | Added | $148.7m920.0k shares |
| BANK OF MONTREAL /CAN/ | Reduced | $97.9m605.4k shares |
| NATIONAL BANK OF CANADA /FI/ | Reduced | $80.8m5.0k shares |
| CIBC WORLD MARKET INC. | Added | $79.7m493.1k shares |
| Murchinson Ltd. | Added | $54.0m333.6k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $41.1m253.8k shares |
| Periscope Capital Inc. | Reduced | $40.4m250.0k shares |
Biggest puts
| SIG North Trading, ULC | Reduced | $198.1m1.2m shares |
| D. E. Shaw & Co., Inc. | Reduced | $72.3m447.1k shares |
| BANK OF MONTREAL /CAN/ | Reduced | $68.7m425.0k shares |
| ROYAL BANK OF CANADA | Added | $62.0m383.4k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $56.7m350.2k shares |
| Murchinson Ltd. | Added | $54.0m333.6k shares |
| TORONTO DOMINION BANK | Reduced | $49.1m303.8k shares |
| Flat Footed LLC | New | $48.5m300.0k shares |
| MILLENNIUM MANAGEMENT LLC | Reduced | $20.7m92.0k shares |
| NATIONAL BANK OF CANADA /FI/ | Added | $17.8m1.1k 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 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 2.19% of their portfolio | 71.3m $11.5bn | Reduced -515.3k |
| BANK OF MONTREAL /CAN/ 4.13% of their portfolio | 62.2m $10.1bn | Added +2.5m |
| VANGUARD CAPITAL MANAGEMENT LLC 0.17% of their portfolio | 42.2m $6.8bn | First filing |
| TD Asset Management Inc 3.98% of their portfolio | 30.4m $4.9bn | Reduced -645.7k |
| FIL Ltd 2.78% of their portfolio | 22.1m $3.6bn | Reduced -1.1m |
| CIBC WORLD MARKET INC. 5.66% of their portfolio | 19.9m $3.2bn | Reduced -749.9k |
| MACKENZIE FINANCIAL CORP 3.78% of their portfolio | 19.5m $3.1bn | Reduced -1.5m |
| 1832 Asset Management L.P. 3.54% of their portfolio | 16.5m $2.7bn | Reduced -355.4k |
| NATIONAL BANK OF CANADA /FI/ 2.67% of their portfolio | 16.2m $2.6bn | Reduced -435.8k |
| GEODE CAPITAL MANAGEMENT, LLC 0.15% of their portfolio | 14.4m $2.4bn | Added +613.5k |
| FMR LLC 0.12% of their portfolio | 13.9m $2.2bn | Reduced -402.2k |
| Federation des caisses Desjardins du Quebec 7.79% of their portfolio | 13.4m $2.2bn | Added +4.1m |
| BANK OF NOVA SCOTIA 3.61% of their portfolio | 12.8m $2.1bn | Reduced -2.5m |
| VANGUARD FIDUCIARY TRUST CO 0.50% of their portfolio | 12.3m $2.0bn | First filing |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 1.68% of their portfolio | 12.1m $2.0bn | Added +250.9k |
| TD Waterhouse Canada Inc. 5.72% of their portfolio | 11.9m $1.9bn | Added +6.5m |
| TORONTO DOMINION BANK 3.53% of their portfolio | 11.3m $1.8bn | Reduced -2.7m |
| Connor, Clark & Lunn Investment Management Ltd. 4.04% of their portfolio | 10.8m $1.8bn | Reduced -701.1k |
| CIBC Asset Management Inc 4.14% of their portfolio | 10.5m $1.7bn | Reduced -357.9k |
| CANADA PENSION PLAN INVESTMENT BOARD 1.04% of their portfolio | 10.0m $1.6bn | Added +87.8k |
| Vanguard Global Advisers, LLC 0.85% of their portfolio | 9.8m $1.6bn | First filing |
| SCOTIA CAPITAL INC. 5.91% of their portfolio | 8.9m $1.4bn | Reduced -173.7k |
| Legal & General Group Plc 0.32% of their portfolio | 8.6m $1.4bn | Reduced -128.0k |
| JPMORGAN CHASE & CO 0.07% of their portfolio | 6.9m $1.1bn | Added +517.5k |
| Fisher Asset Management, LLC 0.37% of their portfolio | 6.7m $1.1bn | Added +338.2k |
| MORGAN STANLEY 0.05% of their portfolio | 5.2m $839.5m | Added +919.5k |
| GOLDMAN SACHS GROUP INC 0.10% of their portfolio | 4.7m $756.3m | Added +1.3m |
| Fiera Capital Corp 2.33% of their portfolio | 4.2m $681.0m | Reduced -319.3k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.09% of their portfolio | 3.8m $614.1m | Added +54.5k |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 1.00% of their portfolio | 3.7m $603.4m | Added +767.2k |
| Beutel, Goodman & Co Ltd. 3.94% of their portfolio | 3.6m $581.0m | Reduced -307.9k |
| Blue Sparrow, LLC /DE 9.02% of their portfolio | 3.3m $527.4m | New |
| Invesco Ltd. 0.05% of their portfolio | 2.9m $462.7m | Reduced -38.9k |
| VANGUARD ASSET MANAGEMENT, Ltd 0.39% of their portfolio | 2.8m $456.8m | First filing |
| Amundi 0.12% of their portfolio | 2.8m $454.3m | Added +525.1k |
| PICTON MAHONEY ASSET MANAGEMENT 4.47% of their portfolio | 2.7m $429.2m | Added +2.4k |
| WELLINGTON MANAGEMENT GROUP LLP 0.08% of their portfolio | 2.6m $426.4m | Added +87.4k |
| DIMENSIONAL FUND ADVISORS LP 0.09% of their portfolio | 2.6m $416.8m | Added +188.6k |
| AGF MANAGEMENT LTD 1.97% of their portfolio | 2.4m $440.2m | Added +39.4k |
| DEUTSCHE BANK AG\ 0.13% of their portfolio | 2.4m $390.9m | Reduced -157.6k |
| BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 2.31% of their portfolio | 2.4m $389.7m | Added +31.3k |
| FRANKLIN RESOURCES INC 0.10% of their portfolio | 2.4m $388.6m | Reduced -22.0k |
| Public Sector Pension Investment Board 1.21% of their portfolio | 2.4m $387.5m | Added +1.6m |
| Alberta Investment Management Corp 2.19% of their portfolio | 2.2m $355.8m | Added +298.6k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.16% of their portfolio | 2.2m $476.8m | Reduced -152.0k |
| MUFG SECURITIES (CANADA), LTD. 9.62% of their portfolio | 2.1m $334.6m | Reduced -64.0k |
| BANK OF AMERICA CORP /DE/ 0.02% of their portfolio | 2.1m $334.3m | Added +71.9k |
| Caisse de depot et placement du Quebec 0.48% of their portfolio | 1.8m $297.9m | Reduced -120.5k |
| GUARDIAN CAPITAL LP 7.28% of their portfolio | 1.7m $275.1m | Reduced -60.3k |
| BlackRock, Inc. 0.00% of their portfolio | 1.5m $234.7m | Added +88.0k |
| LETKO, BROSSEAU & ASSOCIATES INC 3.70% of their portfolio | 1.4m $229.3m | Reduced -42.2k |
| Clearbridge Investments, LLC 0.19% of their portfolio | 1.4m $221.8m | Reduced -34.7k |
| Bank of New York Mellon Corp 0.04% of their portfolio | 1.3m $205.5m | Reduced -40.0k |
| AVIVA PLC 0.33% of their portfolio | 1.2m $195.9m | Added +33.9k |
| NORTHERN TRUST CORP 0.03% of their portfolio | 1.2m $195.3m | Added +21.6k |
| INTACT INVESTMENT MANAGEMENT INC. 5.06% of their portfolio | 1.1m $177.6m | Added +326.4k |
| Hillsdale Investment Management Inc. 4.68% of their portfolio | 1.1m $172.2m | Added +99.6k |
| Scheer, Rowlett & Associates Investment Management Ltd. 12.10% of their portfolio | 1.0m $168.3m | Added +22.2k |
| UBS Group AG 0.03% of their portfolio | 1.0m $166.7m | Added +183.5k |
| Russell Investments Group, Ltd. 0.18% of their portfolio | 1.0m $164.1m | Reduced -30.0k |
| ALLIANCEBERNSTEIN L.P. 0.06% of their portfolio | 1.0m $173.3m | Reduced -141.5k |
| Nuveen, LLC 0.04% of their portfolio | 999.1k $161.0m | Reduced -2.4k |
| Korea Investment CORP 0.32% of their portfolio | 950.0k $153.1m | Reduced -93.7k |
| DekaBank Deutsche Girozentrale 0.25% of their portfolio | 945.2k $151.6m | Unchanged |
| ACADIAN ASSET MANAGEMENT LLC 0.21% of their portfolio | 927.9k $149.5m | Reduced -544.1k |
| Cardinal Capital Management, Inc. 3.89% of their portfolio | 895.7k $144.3m | Added +16.6k |
| APG Asset Management N.V. 0.39% of their portfolio | 868.9k $121.5m | Added +21.7k |
| Dixon Mitchell Investment Counsel Inc. 4.55% of their portfolio | 812.2k $130.9m | Reduced -59.5k |
| State of Tennessee, Department of Treasury 0.43% of their portfolio | 798.1k $128.6m | Reduced -4.3k |
| BCV Asset Management Inc. 4.40% of their portfolio | 794.7k $128.0m | Reduced -7.6k |
| REGIONS FINANCIAL CORP 0.83% of their portfolio | 792.3k $128.2m | Added +1.4k |
| CANADA LIFE ASSURANCE Co 0.22% of their portfolio | 770.7k $124.6m | Added +20.9k |
| Addenda Capital Inc. 4.72% of their portfolio | 745.8k $167.7m | Added +43.0k |
| TWO SIGMA INVESTMENTS, LP 0.10% of their portfolio | 731.6k $118.4m | Added +392.2k |
| AMERIPRISE FINANCIAL INC 0.03% of their portfolio | 727.2k $121.0m | Reduced -39.6k |
| Vanguard Investments Australia, Ltd. 0.32% of their portfolio | 696.3k $112.6m | First filing |
| Capital World Investors 0.02% of their portfolio | 694.8k $112.3m | Added +3.0k |
| Canoe Financial LP 1.53% of their portfolio | 693.6k $112.1m | Added +2.3k |
| AQR CAPITAL MANAGEMENT LLC 0.05% of their portfolio | 686.5k $110.4m | Reduced -12.4k |
| OMERS ADMINISTRATION Corp 0.71% of their portfolio | 681.4k $109.8m | Reduced -319.2k |
| Rathbones Group PLC 0.23% of their portfolio | 679.4k $109.5m | Added +29.4k |
| Zurcher Kantonalbank (Zurich Cantonalbank) 0.22% of their portfolio | 634.0k $102.2m | Added +24.1k |
| Pictet Asset Management Holding SA 0.11% of their portfolio | 628.8k $101.3m | Added +39.6k |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.12% of their portfolio | 626.2k $101.2m | Added +189.8k |
| BANK OF NOVA SCOTIA TRUST CO 8.52% of their portfolio | 613.6k $99.3m | Reduced -15.1k |
| MILLENNIUM MANAGEMENT LLC 0.07% of their portfolio | 589.9k $95.3m | Reduced -14.0k |
| CIDEL ASSET MANAGEMENT INC 4.87% of their portfolio | 553.5k $89.2m | Added +260.1k |
| RAYMOND JAMES FINANCIAL INC 0.03% of their portfolio | 522.1k $84.5m | Added +6.2k |
| Guardian Partners Inc. 6.79% of their portfolio | 503.9k $81.4m | Reduced -3.3k |
| Northwest & Ethical Investments L.P. 1.85% of their portfolio | 494.8k $80.2m | Reduced -11.0k |
| Qube Research & Technologies Ltd 0.11% of their portfolio | 472.2k $76.4m | Added +365.0k |
| AMERICAN CENTURY COMPANIES INC 0.04% of their portfolio | 458.5k $74.1m | Added +64.0k |
| CITIGROUP INC 0.05% of their portfolio | 448.2k $72.2m | Reduced -182.3k |
| STATE OF WISCONSIN INVESTMENT BOARD 0.16% of their portfolio | 442.1k $71.2m | Reduced -71.8k |
| Clark Capital Management Group, Inc. 0.43% of their portfolio | 426.4k $69.0m | Reduced -29.0k |
| J. Safra Sarasin Holding AG 1.16% of their portfolio | 420.4k $67.8m | Added +11.2k |
| QV Investors Inc. 5.38% of their portfolio | 412.4k $66.4m | Reduced -8.6k |
| MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd 7.12% of their portfolio | 407.3k $66.9m | Reduced -20.0k |
| Rockefeller Capital Management L.P. 0.12% of their portfolio | 404.0k $65.4m | Added +10.8k |
| UniSuper Management Pty Ltd 0.58% of their portfolio | 391.9k $88.1m | Added +22.4k |