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 ($1.1bn this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $73.62. Options: 31 managers hold calls ($1.3bn notional), 25 hold puts ($1.3bn).
Trends to Q2 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 |
| Q2 2025 | 683 |
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 | 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 |
| Q2 2025 | 306 | 266 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2024 | $958.7m | $663.1m | 0.69 |
| Q4 2024 | $1.1bn | $813.6m | 0.73 |
| Q1 2025 | $933.5m | $874.4m | 0.94 |
| Q2 2025 | $1.3bn | $1.3bn | 1.01 |
Biggest buyers
| ROYAL BANK OF CANADA | Added | +132.3m |
| GOLDMAN SACHS GROUP INC | Added | +4.8m |
| PICTON MAHONEY ASSET MANAGEMENT | New | +3.7m |
| FMR LLC | Added | +3.1m |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | Added | +2.8m |
| VANGUARD GROUP INC | Added | +2.6m |
| Public Sector Pension Investment Board | Added | +2.5m |
| GEODE CAPITAL MANAGEMENT, LLC | Added | +2.4m |
| JPMORGAN CHASE & CO | Added | +2.2m |
| D. E. Shaw & Co., Inc. | Added | +2.1m |
Biggest sellers
| BANK OF MONTREAL /CAN/ | Reduced | -15.8m |
| CIBC WORLD MARKET INC. | Reduced | -5.5m |
| BANK OF NOVA SCOTIA | Reduced | -2.8m |
| CIBC Asset Management Inc | Reduced | -2.1m |
| MORGAN STANLEY | Reduced | -1.5m |
| Alberta Investment Management Corp | Reduced | -1.5m |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC | Reduced | -1.4m |
| MACKENZIE FINANCIAL CORP | Reduced | -1.4m |
| Quadrature Capital Ltd | Reduced | -1.2m |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | Reduced | -1.1m |
Biggest calls
| PEAK6 LLC | Added | $205.9m2.8m shares |
| D. E. Shaw & Co., Inc. | Reduced | $182.3m2.5m shares |
| SIG North Trading, ULC | Added | $163.3m2.2m shares |
| CIBC WORLD MARKET INC. | Added | $152.1m2.1m shares |
| TORONTO DOMINION BANK | Reduced | $104.7m1.4m shares |
| ROYAL BANK OF CANADA | Reduced | $96.1m1.3m shares |
| CITADEL ADVISORS LLC | Added | $89.5m1.2m shares |
| BANK OF MONTREAL /CAN/ | Reduced | $64.6m877.7k shares |
| BANK OF AMERICA CORP /DE/ | Unchanged | $42.2m575.0k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $34.0m462.6k shares |
Biggest puts
| ROYAL BANK OF CANADA | Added | $453.1m6.2m shares |
| D. E. Shaw & Co., Inc. | Added | $239.1m3.2m shares |
| TORONTO DOMINION BANK | Added | $169.8m2.3m shares |
| SIG North Trading, ULC | Added | $154.1m2.1m shares |
| CITADEL ADVISORS LLC | Reduced | $83.8m1.1m shares |
| PEAK6 LLC | Added | $75.7m1.0m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $51.3m698.8k shares |
| CIBC WORLD MARKET INC. | Reduced | $32.8m446.5k shares |
| BANK OF MONTREAL /CAN/ | Reduced | $22.2m301.7k shares |
| MILLENNIUM MANAGEMENT LLC | Reduced | $16.0m162.8k 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 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 2.07% of their portfolio | 289.3m $21.2bn | Added +132.3m |
| VANGUARD GROUP INC 0.09% of their portfolio | 77.2m $5.7bn | Added +2.6m |
| BANK OF MONTREAL /CAN/ 2.84% of their portfolio | 76.6m $5.6bn | Reduced -15.8m |
| CIBC WORLD MARKET INC. 7.13% of their portfolio | 43.9m $3.2bn | Reduced -5.5m |
| FIL Ltd 2.65% of their portfolio | 42.1m $3.1bn | Reduced -113.0k |
| TD Asset Management Inc 2.34% of their portfolio | 37.4m $2.7bn | Added +329.4k |
| NATIONAL BANK OF CANADA /FI/ 2.42% of their portfolio | 30.5m $2.2bn | Reduced -833.6k |
| MACKENZIE FINANCIAL CORP 2.65% of their portfolio | 27.8m $2.0bn | Reduced -1.4m |
| 1832 Asset Management L.P. 2.89% of their portfolio | 22.5m $1.7bn | Added +101.7k |
| BANK OF NOVA SCOTIA 3.24% of their portfolio | 21.5m $1.6bn | Reduced -2.8m |
| NORGES BANK 0.19% of their portfolio | 21.0m $1.5bn | Added +753.2k |
| GOLDMAN SACHS GROUP INC 0.20% of their portfolio | 17.1m $1.3bn | Added +4.8m |
| CIBC Asset Management Inc 3.81% of their portfolio | 16.4m $1.2bn | Reduced -2.1m |
| Beutel, Goodman & Co Ltd. 6.16% of their portfolio | 14.7m $1.1bn | Reduced -580.1k |
| Federation des caisses Desjardins du Quebec 4.59% of their portfolio | 14.2m $1.0bn | Reduced -543.1k |
| GEODE CAPITAL MANAGEMENT, LLC 0.07% of their portfolio | 14.1m $1.1bn | Added +2.4m |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.90% of their portfolio | 13.8m $1.0bn | Added +115.2k |
| CANADA PENSION PLAN INVESTMENT BOARD 0.78% of their portfolio | 12.5m $917.8m | Added +1.9m |
| JPMORGAN CHASE & CO 0.06% of their portfolio | 12.2m $894.2m | Added +2.2m |
| JARISLOWSKY, FRASER Ltd 5.03% of their portfolio | 12.0m $880.6m | Reduced -131.1k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.26% of their portfolio | 11.3m $829.2m | Reduced -1.1m |
| FMR LLC 0.05% of their portfolio | 10.9m $800.8m | Added +3.1m |
| SCOTIA CAPITAL INC. 3.73% of their portfolio | 10.8m $790.2m | Reduced -44.3k |
| Connor, Clark & Lunn Investment Management Ltd. 2.54% of their portfolio | 9.8m $721.0m | Added +128.6k |
| Legal & General Group Plc 0.17% of their portfolio | 9.5m $693.9m | Reduced -633.5k |
| TD Waterhouse Canada Inc. 4.98% of their portfolio | 9.4m $695.1m | Reduced -104.6k |
| DEUTSCHE BANK AG\ 0.20% of their portfolio | 7.3m $538.6m | Added +414.4k |
| DIMENSIONAL FUND ADVISORS LP 0.12% of their portfolio | 7.0m $510.5m | Reduced -25.3k |
| BANK OF AMERICA CORP /DE/ 0.04% of their portfolio | 6.5m $475.8m | Added +1.1m |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.95% of their portfolio | 6.5m $475.5m | Added +2.8m |
| Capital Research Global Investors 0.08% of their portfolio | 5.7m $416.6m | Added +25.6k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.06% of their portfolio | 5.0m $369.9m | Added +156.2k |
| Invesco Ltd. 0.05% of their portfolio | 4.0m $293.5m | Reduced -202.6k |
| MORGAN STANLEY 0.02% of their portfolio | 3.9m $288.4m | Reduced -1.5m |
| BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 1.57% of their portfolio | 3.7m $269.1m | Reduced -751.1k |
| PICTON MAHONEY ASSET MANAGEMENT 3.77% of their portfolio | 3.7m $267.5m | New |
| AGF MANAGEMENT LTD 1.31% of their portfolio | 3.5m $289.3m | Reduced -225.1k |
| LETKO, BROSSEAU & ASSOCIATES INC 4.47% of their portfolio | 3.2m $233.8m | Reduced -76.9k |
| Alberta Investment Management Corp 1.81% of their portfolio | 3.1m $230.5m | Reduced -1.5m |
| STATE STREET CORP 0.01% of their portfolio | 2.9m $216.6m | Reduced -73.8k |
| Amundi 0.08% of their portfolio | 2.9m $223.5m | Added +429.1k |
| MUFG SECURITIES (CANADA), LTD. 6.52% of their portfolio | 2.9m $214.5m | Reduced -600.7k |
| TORONTO DOMINION BANK 0.46% of their portfolio | 2.9m $214.4m | Added +839.6k |
| Public Sector Pension Investment Board 0.84% of their portfolio | 2.7m $195.7m | Added +2.5m |
| Clearbridge Investments, LLC 0.15% of their portfolio | 2.5m $178.8m | Reduced -655.2k |
| ONTARIO TEACHERS PENSION PLAN BOARD 3.72% of their portfolio | 2.4m $180.0m | Added +1.8m |
| D. E. Shaw & Co., Inc. 0.17% of their portfolio | 2.3m $168.7m | Added +2.1m |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.03% of their portfolio | 2.3m $167.8m | Added +180.2k |
| Scheer, Rowlett & Associates Investment Management Ltd. 10.07% of their portfolio | 2.1m $155.6m | Added +56.8k |
| INTACT INVESTMENT MANAGEMENT INC. 4.93% of their portfolio | 2.0m $145.6m | Reduced -455.2k |
| Burgundy Asset Management Ltd. 1.36% of their portfolio | 1.9m $140.1m | Reduced -25.3k |
| BlackRock, Inc. 0.00% of their portfolio | 1.7m $128.1m | Added +165.2k |
| Aviso Financial Inc. 5.54% of their portfolio | 1.7m $122.9m | Added +20.5k |
| Bank of New York Mellon Corp 0.02% of their portfolio | 1.7m $121.8m | Added +51.7k |
| Dixon Mitchell Investment Counsel Inc. 4.69% of their portfolio | 1.6m $120.8m | Added +21.9k |
| UBS Group AG 0.03% of their portfolio | 1.6m $120.1m | Added +309.6k |
| Caisse de depot et placement du Quebec 0.22% of their portfolio | 1.4m $101.8m | Added +294.5k |
| AVIVA PLC 0.20% of their portfolio | 1.3m $96.4m | Added +86.5k |
| Addenda Capital Inc. 4.68% of their portfolio | 1.3m $130.3m | Reduced -27.2k |
| Nuveen, LLC 0.03% of their portfolio | 1.3m $94.6m | Reduced -2.6k |
| NORTHERN TRUST CORP 0.01% of their portfolio | 1.3m $94.4m | Reduced -45.8k |
| CITADEL ADVISORS LLC 0.08% of their portfolio | 1.2m $87.3m | Added +562.0k |
| HSBC HOLDINGS PLC 0.05% of their portfolio | 1.2m $85.5m | Added +27.3k |
| DekaBank Deutsche Girozentrale 0.15% of their portfolio | 1.1m $82.8m | Reduced -3.4k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.06% of their portfolio | 1.1m $79.5m | New |
| RENAISSANCE TECHNOLOGIES LLC 0.10% of their portfolio | 1.1m $77.6m | Added +501.3k |
| OMERS ADMINISTRATION Corp 0.60% of their portfolio | 1.0m $76.4m | Reduced -576.0k |
| Pictet Asset Management Holding SA 0.08% of their portfolio | 1.0m $74.1m | Added +46.6k |
| Korea Investment CORP 0.16% of their portfolio | 1.0m $73.7m | Reduced -83.9k |
| MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd 8.13% of their portfolio | 1.0m $73.6m | Reduced -181.2k |
| State of Tennessee, Department of Treasury 0.26% of their portfolio | 997.8k $73.2m | Unchanged |
| Skandinaviska Enskilda Banken AB (publ) 0.32% of their portfolio | 996.7k $73.2m | Added +753.4k |
| FRANKLIN RESOURCES INC 0.02% of their portfolio | 933.1k $68.7m | Reduced -26.7k |
| CANADA LIFE ASSURANCE Co 0.11% of their portfolio | 909.9k $66.8m | Reduced -42.9k |
| Clark Capital Management Group, Inc. 0.44% of their portfolio | 867.9k $63.7m | Added +860.0k |
| Russell Investments Group, Ltd. 0.08% of their portfolio | 866.6k $63.5m | Added +96.7k |
| Canoe Financial LP 0.89% of their portfolio | 852.2k $62.7m | Reduced -2.6k |
| Fiera Capital Corp 0.21% of their portfolio | 834.5k $61.3m | Reduced -9.6k |
| GUARDIAN CAPITAL LP 2.09% of their portfolio | 807.2k $59.3m | Reduced -17.1k |
| Grantham, Mayo, Van Otterloo & Co. LLC 0.17% of their portfolio | 780.7k $57.3m | Added +41.7k |
| CITIGROUP INC 0.04% of their portfolio | 767.8k $56.4m | Added +130.9k |
| BANK OF NOVA SCOTIA TRUST CO 5.42% of their portfolio | 749.3k $55.0m | Reduced -13.9k |
| Zurcher Kantonalbank (Zurich Cantonalbank) 0.13% of their portfolio | 743.5k $54.6m | Added +26.0k |
| Northwest & Ethical Investments L.P. 1.31% of their portfolio | 721.2k $52.9m | Reduced -81.3k |
| BESSEMER GROUP INC 0.08% of their portfolio | 691.5k $50.8m | Added +570.3k |
| Hillsdale Investment Management Inc. 1.81% of their portfolio | 665.4k $49.0m | Reduced -281.6k |
| Guardian Partners Inc. 4.44% of their portfolio | 664.9k $49.4m | Reduced -6.3k |
| FIRST TRUST ADVISORS LP 0.04% of their portfolio | 624.5k $45.9m | Reduced -125.3k |
| NICOLA WEALTH MANAGEMENT LTD. 4.26% of their portfolio | 617.6k $45.4m | Added +107.6k |
| UniSuper Management Pty Ltd 0.39% of their portfolio | 587.5k $58.8m | Reduced -400 |
| CIDEL ASSET MANAGEMENT INC 2.42% of their portfolio | 548.7k $40.3m | Added +10.6k |
| Achmea Investment Management B.V. 0.52% of their portfolio | 548.0k $40.2m | New |
| MONTRUSCO BOLTON INVESTMENTS INC. 0.43% of their portfolio | 533.6k $39.2m | Reduced -42.6k |
| ROYAL LONDON ASSET MANAGEMENT LTD 0.08% of their portfolio | 499.5k $36.7m | Reduced -6.3k |
| ACADIAN ASSET MANAGEMENT LLC 0.07% of their portfolio | 475.7k $34.9m | Added +447.4k |
| NEUBERGER BERMAN GROUP LLC 0.02% of their portfolio | 438.6k $32.2m | Added +65.9k |
| Alyeska Investment Group, L.P. 0.11% of their portfolio | 436.7k $32.1m | Reduced -38.1k |
| Advisors Capital Management, LLC 0.42% of their portfolio | 417.1k $30.6m | Added +14.4k |
| Woodbridge Co Ltd 0.05% of their portfolio | 388.2k $28.5m | First filing |
| JANE STREET GROUP, LLC 0.05% of their portfolio | 386.8k $28.4m | Reduced -32.2k |