Vault-13

THOMSON REUTERS CORP

COM · CUSIP 884903808 · ISIN CA8849038085

535 institutional holders +37 vs Q1 2025
414,120,913414.1m shares reported held*
$83.3bnreported value*
75 new 181 added 171 reduced 45 sold out net bought ≈ $2.8bn (+14.0m 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 ($111.8m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $201.15. Options: 18 managers hold calls ($128.4m notional), 10 hold puts ($17.4m).

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

0200400600Q3 22: 2Q4 22: 4Q1 23: 3Q2 23: 382Q3 23: 399Q4 23: 439Q1 24: 463Q2 24: 491Q3 24: 479Q4 24: 484Q1 25: 498Q2 25: 535535Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 20222
Q4 20224
Q1 20233
Q2 2023382
Q3 2023399
Q4 2023439
Q1 2024463
Q2 2024491
Q3 2024479
Q4 2024484
Q1 2025498
Q2 2025535

Buyers vs sellers

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

Bought or addedCut or sold out
4000400Q3 23: 175 bought or addedQ3 23: 193 cut or sold outQ4 23: 184 bought or addedQ4 23: 192 cut or sold outQ4 23Q1 24: 203 bought or addedQ1 24: 206 cut or sold outQ2 24: 216 bought or addedQ2 24: 209 cut or sold outQ2 24Q3 24: 200 bought or addedQ3 24: 237 cut or sold outQ4 24: 190 bought or addedQ4 24: 217 cut or sold outQ4 24Q1 25: 202 bought or addedQ1 25: 222 cut or sold outQ2 25: 256 bought or addedQ2 25: 216 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 2023175193
Q4 2023184192
Q1 2024203206
Q2 2024216209
Q3 2024200237
Q4 2024190217
Q1 2025202222
Q2 2025256216

Calls vs puts

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

CallsPuts
$0$50m$100m$150mQ3 24 calls: $50.1mQ3 24 puts: $14.6mQ3 24P/C 0.29Q4 24 calls: $45.9mQ4 24 puts: $6.8mQ4 24P/C 0.15Q1 25 calls: $99.1mQ1 25 puts: $6.8mQ1 25P/C 0.07Q2 25 calls: $128.4mQ2 25 puts: $17.4mQ2 25P/C 0.14
Numbers
QuarterCallsPutsP/C
Q3 2024$50.1m$14.6m0.29
Q4 2024$45.9m$6.8m0.15
Q1 2025$99.1m$6.8m0.07
Q2 2025$128.4m$17.4m0.14

Biggest buyers

ROYAL BANK OF CANADA Added +10,619,499+10.6m
MILLENNIUM MANAGEMENT LLC Added +1,642,799+1.6m
HRT FINANCIAL LP Added +743,923+743.9k
NORGES BANK Added +594,471+594.5k
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added +495,863+495.9k
PICTON MAHONEY ASSET MANAGEMENT New +491,996+492.0k
Qube Research & Technologies Ltd Added +443,583+443.6k
Balyasny Asset Management L.P. Added +430,875+430.9k
JANE STREET GROUP, LLC Added +424,854+424.9k
FMR LLC Added +403,115+403.1k

Biggest sellers

CITADEL ADVISORS LLC Reduced -887,699-887.7k
FIL Ltd Reduced -500,226-500.2k
MORGAN STANLEY Reduced -485,466-485.5k
BANK OF MONTREAL /CAN/ Reduced -463,322-463.3k
Connor, Clark & Lunn Investment Management Ltd. Reduced -393,976-394.0k
NATIONAL BANK OF CANADA /FI/ Reduced -376,278-376.3k
Alberta Investment Management Corp Reduced -339,400-339.4k
Clearbridge Investments, LLC Reduced -316,902-316.9k
TWO SIGMA INVESTMENTS, LP Reduced -312,939-312.9k
CANADA PENSION PLAN INVESTMENT BOARD Reduced -278,184-278.2k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $37.2m185.1k shares
BANK OF MONTREAL /CAN/ Unchanged $24.1m120.0k shares
CIBC WORLD MARKET INC. New $20.1m100.0k shares
BARCLAYS PLC Added $16.2m80.3k shares
BNP PARIBAS FINANCIAL MARKETS Unchanged $10.0m498 shares
Balyasny Asset Management L.P. New $6.0m30.0k shares
UBS Group AG Unchanged $5.6m28.0k shares
SIG North Trading, ULC Reduced $2.8m14.1k shares
ROYAL BANK OF CANADA Unchanged $2.0m10.0k shares
GROUP ONE TRADING LLC Added $1.5m7.4k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $5.8m29.0k shares
CITADEL ADVISORS LLC Added $4.4m22.0k shares
SIG North Trading, ULC Added $3.4m17.0k shares
Walleye Trading LLC Added $2.6m13.0k shares
TORONTO DOMINION BANK Reduced $804.9k4.0k shares
Greenland Capital Management LP New $201.1k1.0k shares
Walleye Capital LLC Reduced $60.3k300 shares
NATIONAL BANK OF CANADA /FI/ Reduced $40.2k2 shares
SIMPLEX TRADING, LLC New $20.0k100 shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 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.

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Woodbridge Co Ltd 99.07% of their portfolio Toronto, A6 300,593,176300.6m $60.5bn $60.5bn 99.07% First filing
2 ROYAL BANK OF CANADA 0.44% of their portfolio TORONTO, A6 22,376,77822.4m $4.5bn $4.5bn 0.44% Added +10.6m +10,619,499
3 FMR LLC 0.07% of their portfolio BOSTON, MA 6,357,9866.4m $1.3bn $1.3bn 0.07% Added +403.1k +403,115
4 TD Asset Management Inc 0.97% of their portfolio Toronto, A6 5,681,4695.7m $1.1bn $1.1bn 0.97% Added +167.0k +166,977
5 VANGUARD GROUP INC 0.02% of their portfolio Valley Forge, PA 5,617,2315.6m $1.1bn $1.1bn 0.02% Added +140.6k +140,631
6 BANK OF MONTREAL /CAN/ 0.52% of their portfolio TORONTO, A6 5,147,0575.1m $1.0bn $1.0bn 0.52% Reduced -463.3k -463,322
7 FIL Ltd 0.78% of their portfolio HAMILTON, D0 4,520,0104.5m $908.9m $908.9m 0.78% Reduced -500.2k -500,226
8 TLT Family Holdco ULC 68.42% of their portfolio Toronto, A6 4,302,9014.3m $865.4m $865.4m 68.42% First filing
9 LCC Family Corp. 100.00% of their portfolio TORONTO, A6 4,043,4194.0m $813.3m $813.3m 100.00% First filing
10 SEG Family Corp. 100.00% of their portfolio Toronto, A6 3,281,1103.3m $659.9m $659.9m 100.00% First filing
11 MACKENZIE FINANCIAL CORP 0.82% of their portfolio TORONTO ONTARIO, A6 3,159,3023.2m $635.7m $635.7m 0.82% Reduced -104.2k -104,169
12 JARISLOWSKY, FRASER Ltd 3.45% of their portfolio MONTREAL, A8 3,010,7603.0m $604.2m $604.2m 3.45% Reduced -255.8k -255,834
13 MILLENNIUM MANAGEMENT LLC 0.46% of their portfolio NEW YORK, NY 2,536,8732.5m $510.2m $510.2m 0.46% Added +1.6m +1,642,799
14 Fiera Capital Corp 1.72% of their portfolio MONTREAL, A8 2,518,8552.5m $506.2m $506.2m 1.72% Added +26.6k +26,588
15 Connor, Clark & Lunn Investment Management Ltd. 1.52% of their portfolio VANCOUVER, A1 2,143,6842.1m $431.4m $431.4m 1.52% Reduced -394.0k -393,976
16 GEODE CAPITAL MANAGEMENT, LLC 0.03% of their portfolio BOSTON, MA 1,997,5162.0m $405.3m $405.3m 0.03% Added +240.1k +240,062
17 GOLDMAN SACHS GROUP INC 0.06% of their portfolio NEW YORK, NY 1,892,4931.9m $380.6m $380.6m 0.06% Added +304.0k +303,985
18 1832 Asset Management L.P. 0.64% of their portfolio TORONTO, A6 1,838,4481.8m $369.8m $369.8m 0.64% Added +173.3k +173,331
19 NATIONAL BANK OF CANADA /FI/ 0.31% of their portfolio MONTREAL, A8 1,465,6771.5m $285.6m $285.6m 0.31% Reduced -376.3k -376,278
20 HRT FINANCIAL LP 1.49% of their portfolio NEW YORK, NY 1,388,5881.4m $279.3m $279.3m 1.49% Added +743.9k +743,923
21 CIBC Asset Management Inc 0.87% of their portfolio TORONTO, Z4 1,369,7181.4m $275.7m $275.7m 0.87% Added +193.6k +193,638
22 NORGES BANK 0.03% of their portfolio OSLO, Q8 1,366,8211.4m $275.0m $275.0m 0.03% Added +594.5k +594,471
23 BlackRock, Inc. 0.00% of their portfolio New York, NY 1,281,9221.3m $257.8m $257.8m 0.00% Added +170.1k +170,052
24 MORGAN STANLEY 0.01% of their portfolio NEW YORK, NY 1,072,2111.1m $215.7m $215.7m 0.01% Reduced -485.5k -485,466
25 CIBC WORLD MARKET INC. 0.47% of their portfolio TORONTO, A6 1,059,8341.1m $213.3m $213.3m 0.47% Reduced -15.4k -15,408
26 Legal & General Group Plc 0.05% of their portfolio London, X0 1,009,8151.0m $202.7m $202.7m 0.05% Added +116.7k +116,723
27 JPMORGAN CHASE & CO 0.01% of their portfolio NEW YORK, NY 860,077860.1k $173.0m $173.0m 0.01% Added +118.6k +118,586
28 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.15% of their portfolio Toronto, A6 814,740814.7k $163.2m $163.2m 0.15% Reduced -136.9k -136,934
29 Qube Research & Technologies Ltd 0.22% of their portfolio LONDON, X0 802,576802.6k $161.4m $161.4m 0.22% Added +443.6k +443,583
30 BANK OF AMERICA CORP /DE/ 0.01% of their portfolio CHARLOTTE, NC 743,352743.4k $149.5m $149.5m 0.01% Added +51.8k +51,797
31 Clearbridge Investments, LLC 0.12% of their portfolio NEW YORK, NY 726,663726.7k $146.2m $146.2m 0.12% Reduced -316.9k -316,902
32 DKRT Investments Corp. 32.76% of their portfolio Toronto, A6 671,217671.2k $135.0m $135.0m 32.76% First filing
33 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.19% of their portfolio BALA CYNWYD, PA 603,781603.8k $121.4m $121.4m 0.19% Added +495.9k +495,863
34 Balyasny Asset Management L.P. 0.25% of their portfolio Chicago, IL 554,720554.7k $111.6m $111.6m 0.25% Added +430.9k +430,875
35 PJT Investments Corp. 56.93% of their portfolio Toronto, A6 530,297530.3k $106.7m $106.7m 56.93% First filing
36 JANE STREET GROUP, LLC 0.16% of their portfolio NEW YORK, NY 497,457497.5k $100.1m $100.1m 0.16% Added +424.9k +424,854
37 PICTON MAHONEY ASSET MANAGEMENT 1.39% of their portfolio Toronto, A6 491,996492.0k $98.5m $98.5m 1.39% New
38 Swiss National Bank 0.06% of their portfolio ZURICH, V8 478,855478.9k $95.9m $95.9m 0.06% Added +30.8k +30,800
39 TORONTO DOMINION BANK 0.20% of their portfolio TORONTO, ONTARIO, A6 469,151469.2k $94.4m $94.4m 0.20% Reduced -8.3k -8,255
40 MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.03% of their portfolio Boston, MA 444,556444.6k $89.4m $89.4m 0.03% Reduced -17.2k -17,235
41 Invesco Ltd. 0.01% of their portfolio ATLANTA, GA 401,566401.6k $80.8m $80.8m 0.01% Added +247.3k +247,252
42 UBS Group AG 0.02% of their portfolio ZURICH, V8 401,385401.4k $80.7m $80.7m 0.02% Added +72.9k +72,857
43 STOREBRAND ASSET MANAGEMENT AS 0.22% of their portfolio LYSAKER, Q8 382,422382.4k $76.9m $76.9m 0.22% Added +1.0k +1,049
44 BANK OF NOVA SCOTIA 0.15% of their portfolio TORONTO, A6 373,668373.7k $75.1m $75.1m 0.15% Reduced -104.0k -103,964
45 ENVESTNET ASSET MANAGEMENT INC 0.02% of their portfolio Berwyn, PA 369,984370.0k $74.4m $74.4m 0.02% Added +208.4k +208,404
46 MARSHALL WACE, LLP 0.08% of their portfolio LONDON, X0 342,757342.8k $68.9m $68.9m 0.08% Added +79.1k +79,107
47 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio SAN FRANCISCO, CA 337,699337.7k $67.8m $67.8m 0.01% Added +9.2k +9,159
48 DEUTSCHE BANK AG\ 0.02% of their portfolio FRANKFURT AM MAIN, 2M 326,299326.3k $65.6m $65.6m 0.02% Added +51.5k +51,470
49 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.01% of their portfolio NEW YORK, NY 323,119323.1k $65.0m $65.0m 0.01% Reduced -35.2k -35,196
50 RAYMOND JAMES FINANCIAL INC 0.02% of their portfolio ST. PETERSBURG, FL 314,059314.1k $63.2m $63.2m 0.02% Added +256.4k +256,406
51 Amundi 0.02% of their portfolio Paris, I0 310,939310.9k $61.8m $61.8m 0.02% Reduced -84.1k -84,118
52 AGF MANAGEMENT LTD 0.28% of their portfolio TORONTO, A6 303,404303.4k $61.6m $61.6m 0.28% Reduced -17.8k -17,764
53 D. E. Shaw & Co., Inc. 0.06% of their portfolio New York, NY 295,940295.9k $59.5m $59.5m 0.06% Added +103.9k +103,939
54 FIRST TRUST ADVISORS LP 0.04% of their portfolio Wheaton, IL 260,595260.6k $52.4m $52.4m 0.04% Reduced -25.0k -24,969
55 BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.17% of their portfolio Paris, I0 255,128255.1k $69.9m $69.9m 0.17% Added +5.1k +5,146
56 SCOTIA CAPITAL INC. 0.24% of their portfolio TORONTO, A6 251,948251.9k $50.7m $50.7m 0.24% Added +1.6k +1,568
57 BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 0.28% of their portfolio VICTORIA, A1 236,029236.0k $47.5m $47.5m 0.28% Reduced -167.2k -167,214
58 Federation des caisses Desjardins du Quebec 0.20% of their portfolio LEVIS, A8 235,608235.6k $44.6m $44.6m 0.20% Reduced -4.8k -4,846
59 TD Waterhouse Canada Inc. 0.34% of their portfolio TORONTO, A6 235,308235.3k $47.4m $47.4m 0.34% Added +46.0k +46,036
60 DIMENSIONAL FUND ADVISORS LP 0.01% of their portfolio AUSTIN, TX 229,725229.7k $46.2m $46.2m 0.01% Added +702 +702
61 MUFG SECURITIES (CANADA), LTD. 1.40% of their portfolio NEW YORK, NY 229,105229.1k $46.0m $46.0m 1.40% Added +23.1k +23,129
62 Pictet Asset Management Holding SA 0.04% of their portfolio CAROUGE, V8 216,770216.8k $43.5m $43.5m 0.04% Reduced -153 -153
63 Bank of New York Mellon Corp 0.01% of their portfolio NEW YORK, NY 214,304214.3k $43.1m $43.1m 0.01% Added +10.4k +10,370
64 Dixon Mitchell Investment Counsel Inc. 1.66% of their portfolio VANCOUVER, A1 212,511212.5k $42.6m $42.6m 1.66% Added +2.9k +2,930
65 NORTHERN TRUST CORP 0.01% of their portfolio CHICAGO, IL 203,703203.7k $41.0m $41.0m 0.01% Reduced -28.2k -28,177
66 BENJAMIN EDWARDS INC 0.51% of their portfolio Clayton, MO 199,875199.9k $40.1m $40.1m 0.51% Added +195.2k +195,199
67 MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.08% of their portfolio CAUSEWAY BAY, K3 193,142193.1k $38.8m $38.8m 0.08% Added +12.1k +12,146
68 GUARDIAN CAPITAL LP 1.17% of their portfolio TORONTO, A6 165,185165.2k $33.2m $33.2m 1.17% Added +4.1k +4,082
69 ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.02% of their portfolio BOSTON, MA 161,197161.2k $32.4m $32.4m 0.02% Added +158.7k +158,685
70 CANADA PENSION PLAN INVESTMENT BOARD 0.02% of their portfolio TORONTO ONTARIO, A6 136,776136.8k $27.5m $27.5m 0.02% Reduced -278.2k -278,184
71 AXA S.A. 0.08% of their portfolio PARIS, I0 135,596135.6k $27.3m $27.3m 0.08% Added +2.2k +2,180
72 Nuveen, LLC 0.01% of their portfolio CHARLOTTE, NC 134,034134.0k $26.9m $26.9m 0.01% Unchanged
73 Waratah Capital Advisors Ltd. 1.83% of their portfolio TORONTO, A6 133,793133.8k $26.9m $26.9m 1.83% Reduced -67.2k -67,179
74 ADAGE CAPITAL PARTNERS GP, L.L.C. 0.04% of their portfolio Boston, MA 132,000132.0k $26.5m $26.5m 0.04% New
75 CIDEL ASSET MANAGEMENT INC 1.56% of their portfolio TORONTO, A6 129,042129.0k $25.9m $25.9m 1.56% Added +3.1k +3,073
76 HSBC HOLDINGS PLC 0.02% of their portfolio LONDON, X0 128,654128.7k $25.8m $25.8m 0.02% Reduced -7.5k -7,466
77 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 126,895126.9k $25.5m $25.5m 0.01% Reduced -3.2k -3,247
78 AMERIPRISE FINANCIAL INC 0.01% of their portfolio MINNEAPOLIS, MN 119,818119.8k $24.3m $24.3m 0.01% Added +83.8k +83,811
79 AVIVA PLC 0.05% of their portfolio LONDON, X0 116,819116.8k $23.5m $23.5m 0.05% Added +7.4k +7,441
80 Man Group plc 0.05% of their portfolio LONDON, X0 114,440114.4k $23.0m $23.0m 0.05% Reduced -20.8k -20,809
81 Cumberland Partners Ltd 1.58% of their portfolio TORONTO, A6 113,254113.3k $22.8m $22.8m 1.58% Reduced -427 -427
82 STIFEL FINANCIAL CORP 0.02% of their portfolio ST. LOUIS, MO 111,894111.9k $22.5m $22.5m 0.02% Added +78.6k +78,609
83 VICTORY CAPITAL MANAGEMENT INC 0.01% of their portfolio San Antonio, TX 110,916110.9k $22.3m $22.3m 0.01% New
84 Jain Global LLC 0.34% of their portfolio NEW YORK, NY 109,641109.6k $22.1m $22.1m 0.34% Added +44.4k +44,399
85 Allianz Asset Management GmbH 0.03% of their portfolio MUNICH, 2M 103,800103.8k $20.8m $20.8m 0.03% Added +94.0k +94,026
86 Alberta Investment Management Corp 0.16% of their portfolio EDMONTON, A0 100,000100.0k $20.1m $20.1m 0.16% Reduced -339.4k -339,400
87 APG Asset Management N.V. 0.05% of their portfolio Amsterdam, P7 99,70099.7k $17.0m $17.0m 0.05% New
88 ARGENT CAPITAL MANAGEMENT LLC 0.57% of their portfolio ST LOUIS, MO 99,14599.1k $19.9m $19.9m 0.57% Added +3.0k +2,975
89 Korea Investment CORP 0.04% of their portfolio SEOUL, M5 94,12294.1k $18.9m $18.9m 0.04% Reduced -23.6k -23,615
90 Jefferies Financial Group Inc. 0.31% of their portfolio NEW YORK, NY 94,10694.1k $18.9m $18.9m 0.31% New
91 Rathbones Group PLC 0.08% of their portfolio Liverpool, X0 90,07190.1k $18.1m $18.1m 0.08% Reduced -1.8k -1,759
92 BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio PARIS, I0 84,28684.3k $17.0m $17.0m 0.01% Added +46.5k +46,542
93 BARCLAYS PLC 0.01% of their portfolio LONDON, X0 83,15083.2k $16.7m $16.7m 0.01% Reduced -12.2k -12,196
94 FRANKLIN RESOURCES INC 0.00% of their portfolio San Mateo, CA 82,29482.3k $16.6m $16.6m 0.00% Added +3.7k +3,730
95 Beck Bode, LLC 2.79% of their portfolio DEDHAM, MA 82,06382.1k $16.5m $16.5m 2.79% New
96 CITIGROUP INC 0.01% of their portfolio NEW YORK, NY 80,56780.6k $16.2m $16.2m 0.01% Added +25.7k +25,696
97 ASSETMARK, INC 0.04% of their portfolio CONCORD, CA 77,83777.8k $15.7m $15.7m 0.04% Added +2.5k +2,495
98 State of Tennessee, Department of Treasury 0.06% of their portfolio NASHVILLE, TN 77,63677.6k $15.6m $15.6m 0.06% Unchanged
99 Aviso Financial Inc. 0.64% of their portfolio TORONTO, A6 70,89770.9k $14.3m $14.3m 0.64% Added +1.2k +1,204
100 Russell Investments Group, Ltd. 0.02% of their portfolio Seattle, WA 70,18470.2k $14.0m $14.0m 0.02% Added +4.4k +4,378