TORONTO DOMINION BK ONT TD
COM NEW · Common Stock · CUSIP 891160509 · ISIN CA8911605092
Banking and financial services corporation
* 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 ($820.4m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $60.08. Options: 29 managers hold calls ($933.5m notional), 27 hold puts ($874.4m).
Trends to Q1 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 672 |
| Q4 2022 | 708 |
| Q1 2023 | 695 |
| Q2 2023 | 688 |
| Q3 2023 | 650 |
| Q4 2023 | 702 |
| Q1 2024 | 701 |
| Q2 2024 | 672 |
| Q3 2024 | 688 |
| Q4 2024 | 639 |
| Q1 2025 | 637 |
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 | 295 | 313 |
| Q3 2023 | 252 | 298 |
| Q4 2023 | 252 | 322 |
| Q1 2024 | 271 | 360 |
| Q2 2024 | 231 | 381 |
| Q3 2024 | 265 | 335 |
| Q4 2024 | 199 | 393 |
| Q1 2025 | 271 | 288 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2024 | $843.8m | $494.8m | 0.59 |
| Q3 2024 | $958.7m | $663.1m | 0.69 |
| Q4 2024 | $1.1bn | $813.6m | 0.73 |
| Q1 2025 | $933.5m | $874.4m | 0.94 |
Biggest buyers
| ROYAL BANK OF CANADA | Added | +13.7m |
| JARISLOWSKY, FRASER Ltd | Added | +10.7m |
| BANK OF MONTREAL /CAN/ | Added | +8.7m |
| GOLDMAN SACHS GROUP INC | Added | +6.0m |
| Federation des caisses Desjardins du Quebec | Added | +4.9m |
| CANADA PENSION PLAN INVESTMENT BOARD | Added | +4.7m |
| FIL Ltd | Added | +3.2m |
| JPMORGAN CHASE & CO | Added | +2.8m |
| NATIONAL BANK OF CANADA /FI/ | Added | +2.7m |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | Added | +2.1m |
Biggest sellers
| MACKENZIE FINANCIAL CORP | Reduced | -54.7m |
| BANK OF NOVA SCOTIA | Reduced | -9.1m |
| Fiera Capital Corp | Reduced | -3.1m |
| TORONTO DOMINION BANK | Reduced | -2.2m |
| HSBC HOLDINGS PLC | Reduced | -1.6m |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | Sold out | -1.5m |
| Beutel, Goodman & Co Ltd. | Reduced | -1.5m |
| AGF MANAGEMENT LTD | Reduced | -1.3m |
| SIG North Trading, ULC | Reduced | -955.9k |
| UBS Group AG | Reduced | -903.8k |
Biggest calls
| D. E. Shaw & Co., Inc. | Added | $150.9m2.5m shares |
| TORONTO DOMINION BANK | Reduced | $95.0m1.6m shares |
| ROYAL BANK OF CANADA | Reduced | $91.7m1.5m shares |
| SIG North Trading, ULC | Added | $85.9m1.4m shares |
| JANE STREET GROUP, LLC | Reduced | $82.0m1.4m shares |
| CIBC WORLD MARKET INC. | Reduced | $70.1m1.2m shares |
| BANK OF MONTREAL /CAN/ | Reduced | $70.0m1.2m shares |
| CITADEL ADVISORS LLC | Reduced | $68.7m1.1m shares |
| NATIONAL BANK OF CANADA /FI/ | Added | $48.8m8.1k shares |
| BANK OF AMERICA CORP /DE/ | Reduced | $34.5m575.0k shares |
Biggest puts
| ROYAL BANK OF CANADA | Added | $206.8m3.4m shares |
| D. E. Shaw & Co., Inc. | Added | $114.4m1.9m shares |
| SIG North Trading, ULC | Reduced | $111.9m1.9m shares |
| JANE STREET GROUP, LLC | Added | $104.2m1.7m shares |
| TORONTO DOMINION BANK | Reduced | $72.0m1.2m shares |
| CITADEL ADVISORS LLC | Added | $70.1m1.2m shares |
| CIBC WORLD MARKET INC. | Added | $55.4m925.0k shares |
| BANK OF MONTREAL /CAN/ | Reduced | $44.9m750.0k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $20.3m339.0k shares |
| MILLENNIUM MANAGEMENT LLC | Reduced | $19.8m263.8k 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.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| BlackRock, Inc. 13G · institution +0.4 pts · filed 2026-04-27 | 5.1% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-07-31 | 5.0% |
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 2.10% of their portfolio | 156.9m $9.4bn | Added +13.7m |
| BANK OF MONTREAL /CAN/ 2.95% of their portfolio | 92.4m $5.5bn | Added +8.7m |
| VANGUARD GROUP INC 0.08% of their portfolio | 74.6m $4.5bn | Added +516.3k |
| CIBC WORLD MARKET INC. 6.76% of their portfolio | 49.4m $3.0bn | Added +297.7k |
| FIL Ltd 2.40% of their portfolio | 42.2m $2.5bn | Added +3.2m |
| TD Asset Management Inc 2.04% of their portfolio | 37.0m $2.2bn | Added +162.6k |
| NATIONAL BANK OF CANADA /FI/ 2.20% of their portfolio | 31.3m $1.9bn | Added +2.7m |
| MACKENZIE FINANCIAL CORP 2.49% of their portfolio | 29.3m $1.8bn | Reduced -54.7m |
| BANK OF NOVA SCOTIA 3.27% of their portfolio | 24.3m $1.5bn | Reduced -9.1m |
| 1832 Asset Management L.P. 2.57% of their portfolio | 22.4m $1.3bn | Reduced -352.2k |
| NORGES BANK 0.17% of their portfolio | 20.2m $1.2bn | Added +1.6m |
| CIBC Asset Management Inc 3.71% of their portfolio | 18.6m $1.1bn | Added +2.0m |
| Beutel, Goodman & Co Ltd. 5.29% of their portfolio | 15.3m $917.9m | Reduced -1.5m |
| Federation des caisses Desjardins du Quebec 4.39% of their portfolio | 14.8m $886.2m | Added +4.9m |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.78% of their portfolio | 13.7m $825.4m | Added +2.1m |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.25% of their portfolio | 12.4m $743.0m | Added +181.8k |
| GOLDMAN SACHS GROUP INC 0.14% of their portfolio | 12.2m $732.3m | Added +6.0m |
| JARISLOWSKY, FRASER Ltd 4.55% of their portfolio | 12.1m $726.6m | Added +10.7m |
| GEODE CAPITAL MANAGEMENT, LLC 0.06% of their portfolio | 11.8m $718.1m | Added +1.3m |
| SCOTIA CAPITAL INC. 3.47% of their portfolio | 10.8m $647.2m | Reduced -245.2k |
| CANADA PENSION PLAN INVESTMENT BOARD 0.61% of their portfolio | 10.5m $630.7m | Added +4.7m |
| Legal & General Group Plc 0.16% of their portfolio | 10.1m $604.3m | Added +63.5k |
| JPMORGAN CHASE & CO 0.05% of their portfolio | 10.0m $599.1m | Added +2.8m |
| Connor, Clark & Lunn Investment Management Ltd. 2.53% of their portfolio | 9.7m $579.4m | Added +456.5k |
| TD Waterhouse Canada Inc. 4.56% of their portfolio | 9.5m $557.1m | Added +58.8k |
| FMR LLC 0.03% of their portfolio | 7.7m $463.7m | Added +1.7m |
| DIMENSIONAL FUND ADVISORS LP 0.10% of their portfolio | 7.0m $418.2m | Reduced -313.3k |
| DEUTSCHE BANK AG\ 0.16% of their portfolio | 6.9m $414.7m | Reduced -72.1k |
| Capital Research Global Investors 0.07% of their portfolio | 5.6m $337.9m | Added +9.2k |
| MORGAN STANLEY 0.02% of their portfolio | 5.5m $327.0m | Added +619.6k |
| BANK OF AMERICA CORP /DE/ 0.03% of their portfolio | 5.4m $321.5m | Reduced -476.3k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.05% of their portfolio | 4.9m $292.5m | Reduced -184.4k |
| Alberta Investment Management Corp 1.90% of their portfolio | 4.6m $277.3m | Added +131.2k |
| BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 1.63% of their portfolio | 4.4m $264.1m | Added +1.3m |
| Invesco Ltd. 0.05% of their portfolio | 4.2m $251.7m | Reduced -495.3k |
| AGF MANAGEMENT LTD 1.35% of their portfolio | 3.7m $255.8m | Reduced -1.3m |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.48% of their portfolio | 3.6m $217.3m | Reduced -435.0k |
| MUFG SECURITIES (CANADA), LTD. 7.35% of their portfolio | 3.5m $210.9m | Added +851.0k |
| LETKO, BROSSEAU & ASSOCIATES INC 4.16% of their portfolio | 3.3m $195.4m | Reduced -90.8k |
| Clearbridge Investments, LLC 0.16% of their portfolio | 3.1m $186.7m | Reduced -140.4k |
| STATE STREET CORP 0.01% of their portfolio | 3.0m $181.2m | Reduced -21.2k |
| Amundi 0.06% of their portfolio | 2.5m $157.4m | Added +101.5k |
| INTACT INVESTMENT MANAGEMENT INC. 5.00% of their portfolio | 2.4m $145.9m | Reduced -614.2k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.03% of their portfolio | 2.1m $126.1m | Reduced -354.1k |
| TORONTO DOMINION BANK 0.32% of their portfolio | 2.1m $124.3m | Reduced -2.2m |
| Scheer, Rowlett & Associates Investment Management Ltd. 9.13% of their portfolio | 2.1m $123.3m | Added +56.1k |
| Burgundy Asset Management Ltd. 1.20% of their portfolio | 1.9m $116.0m | Reduced -325.1k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.39% of their portfolio | 1.7m $104.9m | Added +25.0k |
| Aviso Financial Inc. 4.88% of their portfolio | 1.7m $99.0m | Reduced -11.2k |
| Dixon Mitchell Investment Counsel Inc. 4.39% of their portfolio | 1.6m $97.3m | Added +153.4k |
| OMERS ADMINISTRATION Corp 0.85% of their portfolio | 1.6m $96.9m | Added +1.3m |
| Bank of New York Mellon Corp 0.02% of their portfolio | 1.6m $96.3m | Added +104.9k |
| BlackRock, Inc. 0.00% of their portfolio | 1.6m $94.6m | Added +387.7k |
| NORTHERN TRUST CORP 0.01% of their portfolio | 1.3m $79.8m | Added +188.4k |
| Addenda Capital Inc. 4.23% of their portfolio | 1.3m $114.5m | Reduced -61.1k |
| UBS Group AG 0.02% of their portfolio | 1.3m $79.5m | Reduced -903.8k |
| Nuveen, LLC 0.02% of their portfolio | 1.3m $77.3m | First filing |
| AVIVA PLC 0.18% of their portfolio | 1.2m $73.4m | Added +170.5k |
| Quadrature Capital Ltd 1.63% of their portfolio | 1.2m $73.5m | Added +175.6k |
| MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd 9.00% of their portfolio | 1.2m $70.8m | Reduced -4.8k |
| DekaBank Deutsche Girozentrale 0.13% of their portfolio | 1.1m $68.3m | Added +3.4k |
| HSBC HOLDINGS PLC 0.05% of their portfolio | 1.1m $67.9m | Reduced -1.6m |
| Caisse de depot et placement du Quebec 0.14% of their portfolio | 1.1m $65.5m | Reduced -175.9k |
| Korea Investment CORP 0.16% of their portfolio | 1.1m $65.2m | Reduced -74.3k |
| State of Tennessee, Department of Treasury 0.23% of their portfolio | 997.8k $59.8m | Reduced -2.0k |
| Pictet Asset Management Holding SA 0.06% of their portfolio | 962.4k $57.7m | Added +12.3k |
| FRANKLIN RESOURCES INC 0.02% of their portfolio | 959.7k $57.5m | Added +38.4k |
| CANADA LIFE ASSURANCE Co 0.10% of their portfolio | 952.9k $57.2m | Reduced -202.3k |
| Hillsdale Investment Management Inc. 2.89% of their portfolio | 947.0k $56.8m | Added +490.6k |
| Canoe Financial LP 0.82% of their portfolio | 854.8k $51.2m | New |
| Fiera Capital Corp 0.18% of their portfolio | 844.1k $50.6m | Reduced -3.1m |
| GUARDIAN CAPITAL LP 1.94% of their portfolio | 824.3k $49.4m | Reduced -20.6k |
| VAN ECK ASSOCIATES CORP 0.06% of their portfolio | 810.6k $48.6m | Added +249.1k |
| Northwest & Ethical Investments L.P. 1.31% of their portfolio | 802.5k $48.1m | Added +223.0k |
| Russell Investments Group, Ltd. 0.06% of their portfolio | 769.9k $46.1m | Reduced -70.4k |
| BANK OF NOVA SCOTIA TRUST CO 4.88% of their portfolio | 763.2k $45.7m | Reduced -34.5k |
| FIRST TRUST ADVISORS LP 0.04% of their portfolio | 749.8k $44.9m | Reduced -117.0k |
| Value Partners Investments Inc. 3.87% of their portfolio | 747.8k $44.9m | Added +511.1k |
| Grantham, Mayo, Van Otterloo & Co. LLC 0.14% of their portfolio | 739.0k $44.3m | Added +147.6k |
| Zurcher Kantonalbank (Zurich Cantonalbank) 0.12% of their portfolio | 717.5k $43.0m | Added +5.1k |
| Guardian Partners Inc. 4.13% of their portfolio | 671.2k $40.0m | Reduced -36.3k |
| CITIGROUP INC 0.03% of their portfolio | 636.9k $38.2m | Reduced -163.1k |
| CITADEL ADVISORS LLC 0.04% of their portfolio | 625.9k $37.5m | Added +113.7k |
| ONTARIO TEACHERS PENSION PLAN BOARD 0.56% of their portfolio | 605.6k $36.3m | New |
| UniSuper Management Pty Ltd 0.38% of their portfolio | 587.9k $50.7m | Added +12.1k |
| MONTRUSCO BOLTON INVESTMENTS INC. 0.45% of their portfolio | 576.3k $34.5m | Added +71.2k |
| ASR Vermogensbeheer N.V. 0.50% of their portfolio | 568.9k $34.1m | First filing |
| QV Investors Inc. 3.43% of their portfolio | 566.3k $33.9m | Reduced -9.9k |
| RENAISSANCE TECHNOLOGIES LLC 0.05% of their portfolio | 555.4k $33.3m | Reduced -183.2k |
| CIDEL ASSET MANAGEMENT INC 2.11% of their portfolio | 538.2k $32.2m | Added +1.1k |
| NICOLA WEALTH MANAGEMENT LTD. 2.98% of their portfolio | 510.0k $30.6m | Unchanged |
| ROYAL LONDON ASSET MANAGEMENT LTD 0.07% of their portfolio | 505.7k $30.3m | Added +88.4k |
| Alyeska Investment Group, L.P. 0.11% of their portfolio | 474.8k $28.5m | New |
| PORTLAND INVESTMENT COUNSEL INC. 8.43% of their portfolio | 462.9k $27.7m | Added +10.5k |
| JANE STREET GROUP, LLC 0.05% of their portfolio | 419.0k $25.1m | Reduced -336.6k |
| Advisors Capital Management, LLC 0.37% of their portfolio | 402.7k $24.1m | Added +112.4k |
| FORSTA AP-FONDEN 0.18% of their portfolio | 398.7k $23.9m | Reduced -18.2k |
| Lansforsakringar Fondforvaltning AB (publ) 0.14% of their portfolio | 383.4k $23.0m | Reduced -16.5k |
| WELLS FARGO & COMPANY/MN 0.01% of their portfolio | 381.6k $22.9m | Reduced -140.5k |
| NEUBERGER BERMAN GROUP LLC 0.02% of their portfolio | 372.8k $22.3m | Reduced -8.0k |