Vault-13

WEST FRASER TIMBER CO LTD WFG

COM · Common Stock · CUSIP 952845105 · ISIN CA9528451052

202 institutional holders -12 vs Q1 2025
36,124,92136.1m shares reported held*
$2.7bnreported value*
20 new 84 added 66 reduced 30 sold out net bought ≈ $291.1m (+4.1m 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 ($4.9m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $73.53. Options: 9 managers hold calls ($6.2m notional), 7 hold puts ($5.8m).

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

0100200300Q3 22: 182Q4 22: 199Q1 23: 195Q2 23: 199Q3 23: 204Q4 23: 199Q1 24: 201Q2 24: 207Q3 24: 208Q4 24: 211Q1 25: 214Q2 25: 202202Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 2022182
Q4 2022199
Q1 2023195
Q2 2023199
Q3 2023204
Q4 2023199
Q1 2024201
Q2 2024207
Q3 2024208
Q4 2024211
Q1 2025214
Q2 2025202

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q3 23: 94 bought or addedQ3 23: 99 cut or sold outQ4 23: 95 bought or addedQ4 23: 101 cut or sold outQ4 23Q1 24: 98 bought or addedQ1 24: 109 cut or sold outQ2 24: 104 bought or addedQ2 24: 101 cut or sold outQ2 24Q3 24: 85 bought or addedQ3 24: 117 cut or sold outQ4 24: 105 bought or addedQ4 24: 95 cut or sold outQ4 24Q1 25: 104 bought or addedQ1 25: 107 cut or sold outQ2 25: 104 bought or addedQ2 25: 96 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 20239499
Q4 202395101
Q1 202498109
Q2 2024104101
Q3 202485117
Q4 202410595
Q1 2025104107
Q2 202510496

Calls vs puts

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

CallsPuts
$0$10m$20m$30m$40mQ3 24 calls: $30.7mQ3 24 puts: $7.9mQ3 24P/C 0.26Q4 24 calls: $6.8mQ4 24 puts: $12.3mQ4 24P/C 1.80Q1 25 calls: $3.8mQ1 25 puts: $2.8mQ1 25P/C 0.74Q2 25 calls: $6.2mQ2 25 puts: $5.8mQ2 25P/C 0.94
Numbers
QuarterCallsPutsP/C
Q3 2024$30.7m$7.9m0.26
Q4 2024$6.8m$12.3m1.80
Q1 2025$3.8m$2.8m0.74
Q2 2025$6.2m$5.8m0.94

Biggest buyers

ROYAL BANK OF CANADA Added +3,126,586+3.1m
FIL Ltd Added +1,245,201+1.2m
MACKENZIE FINANCIAL CORP Added +728,830+728.8k
Lightrock Netherlands B.V. Added +237,239+237.2k
1832 Asset Management L.P. Added +217,304+217.3k
PRICE T ROWE ASSOCIATES INC /MD/ Added +212,289+212.3k
BANK OF MONTREAL /CAN/ Added +178,789+178.8k
DIMENSIONAL FUND ADVISORS LP Added +78,752+78.8k
TWO SIGMA INVESTMENTS, LP New +74,482+74.5k
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP New +71,588+71.6k

Biggest sellers

VANGUARD GROUP INC Reduced -724,324-724.3k
Alberta Investment Management Corp Reduced -252,216-252.2k
JPMORGAN CHASE & CO Reduced -242,212-242.2k
BANK OF AMERICA CORP /DE/ Reduced -199,655-199.7k
NORGES BANK Reduced -197,805-197.8k
FMR LLC Reduced -187,850-187.8k
Impala Asset Management LLC Sold out -113,900-113.9k
VAN LANSCHOT KEMPEN INVESTMENT MANAGEMENT N.V. Reduced -105,796-105.8k
Waratah Capital Advisors Ltd. Sold out -105,521-105.5k
Grantham, Mayo, Van Otterloo & Co. LLC Reduced -93,002-93.0k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $2.0m27.0k shares
CIBC WORLD MARKET INC. New $1.9m26.0k shares
NATIONAL BANK OF CANADA /FI/ Reduced $923.7k126 shares
SIG North Trading, ULC Reduced $857.6k11.7k shares
CITADEL ADVISORS LLC Reduced $322.5k4.4k shares
SIMPLEX TRADING, LLC Added $124.0k1.7k shares
Walleye Trading LLC New $51.3k700 shares
BANK OF MONTREAL /CAN/ Reduced $29.4k400 shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $3.1m42.9k shares
SIG North Trading, ULC Added $1.9m26.3k shares
NATIONAL BANK OF CANADA /FI/ Added $417.9k57 shares
Walleye Trading LLC Unchanged $234.6k3.2k shares
SIMPLEX TRADING, LLC Added $58.0k800 shares
BANK OF MONTREAL /CAN/ New $14.7k200 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.

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.

HolderStakeChangeShares Last filed
FIL Ltd 13G · institution +3.6 pts · filed 2025-09-08 11.5% +3.6 pts 8.8m≈ $597.0m 2025-09-08

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

#ManagerLocationShares Value% of their portfolioChangeShares change
1 FIL Ltd 0.38% of their portfolio HAMILTON, D0 6,070,3276.1m $445.1m $445.1m 0.38% Added +1.2m +1,245,201
2 ROYAL BANK OF CANADA 0.04% of their portfolio TORONTO, A6 6,025,8046.0m $441.7m $441.7m 0.04% Added +3.1m +3,126,586
3 PRICE T ROWE ASSOCIATES INC /MD/ 0.02% of their portfolio BALTIMORE, MD 2,606,8962.6m $191.1m $191.1m 0.02% Added +212.3k +212,289
4 BANK OF MONTREAL /CAN/ 0.08% of their portfolio TORONTO, A6 2,275,2282.3m $167.0m $167.0m 0.08% Added +178.8k +178,789
5 VANGUARD GROUP INC 0.00% of their portfolio Valley Forge, PA 2,152,0852.2m $157.8m $157.8m 0.00% Reduced -724.3k -724,324
6 1832 Asset Management L.P. 0.21% of their portfolio TORONTO, A6 1,642,3981.6m $120.4m $120.4m 0.21% Added +217.3k +217,304
7 FMR LLC 0.01% of their portfolio BOSTON, MA 1,289,9201.3m $94.6m $94.6m 0.01% Reduced -187.8k -187,850
8 LETKO, BROSSEAU & ASSOCIATES INC 1.57% of their portfolio MONTREAL, A8 1,118,8541.1m $81.9m $81.9m 1.57% Added +26.1k +26,052
9 Pictet Asset Management Holding SA 0.08% of their portfolio CAROUGE, V8 1,025,7451.0m $75.1m $75.1m 0.08% Reduced -31.5k -31,459
10 MACKENZIE FINANCIAL CORP 0.09% of their portfolio TORONTO ONTARIO, A6 907,620907.6k $66.6m $66.6m 0.09% Added +728.8k +728,830
11 MANNING & NAPIER ADVISORS LLC 0.76% of their portfolio Fairport, NY 872,424872.4k $64.0m $64.0m 0.76% Reduced -3.4k -3,391
12 NORGES BANK 0.01% of their portfolio OSLO, Q8 775,013775.0k $56.9m $56.9m 0.01% Reduced -197.8k -197,805
13 VAN LANSCHOT KEMPEN INVESTMENT MANAGEMENT N.V. 0.42% of their portfolio AMSTERDAM, P7 442,986443.0k $44.2m $44.2m 0.42% Reduced -105.8k -105,796
14 Vontobel Holding Ltd. 0.10% of their portfolio ZURICH, V8 421,650421.6k $30.9m $30.9m 0.10% Reduced -23.2k -23,179
15 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 410,701410.7k $29.9m $29.9m 0.00% Added +67.7k +67,709
16 DEUTSCHE BANK AG\ 0.01% of their portfolio FRANKFURT AM MAIN, 2M 386,777386.8k $28.4m $28.4m 0.01% Reduced -8.3k -8,324
17 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 342,060342.1k $25.1m $25.1m 0.00% Reduced -199.7k -199,655
18 HORIZON KINETICS ASSET MANAGEMENT LLC 0.27% of their portfolio NEW YORK, NY 304,838304.8k $22.3m $22.3m 0.27% Added +16.2k +16,206
19 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 301,315301.3k $22.1m $22.1m 0.00% Added +70.4k +70,437
20 ROBOTTI ROBERT 3.60% of their portfolio NEW YORK, NY 295,288295.3k $21.4m $21.4m 3.60% Reduced -1.7k -1,670
21 Grantham, Mayo, Van Otterloo & Co. LLC 0.07% of their portfolio Boston, MA 293,699293.7k $21.5m $21.5m 0.07% Reduced -93.0k -93,002
22 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio SAN FRANCISCO, CA 277,299277.3k $20.3m $20.3m 0.00% Reduced -26.6k -26,565
23 CANADA PENSION PLAN INVESTMENT BOARD 0.02% of their portfolio TORONTO ONTARIO, A6 269,683269.7k $19.8m $19.8m 0.02% Unchanged
24 BlackRock, Inc. 0.00% of their portfolio New York, NY 264,982265.0k $19.4m $19.4m 0.00% Added +42.5k +42,484
25 Legal & General Group Plc 0.00% of their portfolio London, X0 263,099263.1k $19.3m $19.3m 0.00% Added +991 +991
26 Lightrock Netherlands B.V. 3.25% of their portfolio UTRECHT, P7 259,303259.3k $11.8m $11.8m 3.25% Added +237.2k +237,239
27 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 256,977257.0k $18.8m $18.8m 0.00% Reduced -7.6k -7,552
28 Amundi 0.01% of their portfolio Paris, I0 240,800240.8k $18.6m $18.6m 0.01% Reduced -729 -729
29 DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio AUSTIN, TX 231,845231.8k $17.0m $17.0m 0.00% Added +78.8k +78,752
30 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.01% of their portfolio Toronto, A6 181,375181.4k $13.3m $13.3m 0.01% Added +17.6k +17,577
31 TD Asset Management Inc 0.01% of their portfolio Toronto, A6 178,884178.9k $13.1m $13.1m 0.01% Added +3.5k +3,507
32 Allianz Asset Management GmbH 0.02% of their portfolio MUNICH, 2M 168,456168.5k $12.3m $12.3m 0.02% Added +41.9k +41,851
33 VAN ECK ASSOCIATES CORP 0.01% of their portfolio NEW YORK, NY 166,142166.1k $12.2m $12.2m 0.01% Reduced -10.5k -10,455
34 Swiss National Bank 0.01% of their portfolio ZURICH, V8 164,138164.1k $12.0m $12.0m 0.01% Added +8.8k +8,800
35 Galibier Capital Management Ltd. 3.30% of their portfolio TORONTO, A6 150,298150.3k $11.0m $11.0m 3.30% Reduced -2.2k -2,232
36 Cerity Partners LLC 0.02% of their portfolio NEW YORK, NY 143,176143.2k $10.5m $10.5m 0.02% Reduced -1.2k -1,167
37 T. Rowe Price Investment Management, Inc. 0.01% of their portfolio BALTIMORE, MD 132,125132.1k $9.7m $9.7m 0.01% Added +2.4k +2,369
38 Smead Capital Management, Inc. 0.18% of their portfolio Phoenix, AZ 120,378120.4k $8.8m $8.8m 0.18% Reduced -571 -571
39 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 114,850114.8k $8.4m $8.4m 0.00% Added +2.4k +2,419
40 CANADA LIFE ASSURANCE Co 0.01% of their portfolio WINNIPEG, A2 100,805100.8k $7.4m $7.4m 0.01% Added +18.1k +18,055
41 AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio KANSAS CITY, MO 97,36397.4k $7.1m $7.1m 0.00% Added +12.5k +12,479
42 UBS Group AG 0.00% of their portfolio ZURICH, V8 84,12884.1k $6.2m $6.2m 0.00% Reduced -64.4k -64,436
43 BANK OF NOVA SCOTIA 0.01% of their portfolio TORONTO, A6 79,81879.8k $5.9m $5.9m 0.01% Reduced -1.0k -1,030
44 TWO SIGMA INVESTMENTS, LP 0.01% of their portfolio NEW YORK, NY 74,48274.5k $5.5m $5.5m 0.01% New
45 ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.00% of their portfolio BOSTON, MA 71,58871.6k $5.2m $5.2m 0.00% New
46 ONTARIO TEACHERS PENSION PLAN BOARD 0.10% of their portfolio Toronto, A6 68,38968.4k $5.0m $5.0m 0.10% Added +41.0k +40,960
47 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio NEW YORK, NY 67,53567.5k $5.0m $5.0m 0.00% Reduced -1.3k -1,309
48 D. E. Shaw & Co., Inc. 0.00% of their portfolio New York, NY 67,35167.4k $4.9m $4.9m 0.00% Added +47.0k +47,000
49 Nuveen, LLC 0.00% of their portfolio CHARLOTTE, NC 65,44965.4k $4.8m $4.8m 0.00% Reduced -1.0k -1,006
50 Korea Investment CORP 0.01% of their portfolio SEOUL, M5 63,15163.2k $4.6m $4.6m 0.01% Added +1.1k +1,050
51 Genus Capital Management Inc. 0.56% of their portfolio VANCOUVER, A1 59,65559.7k $4.4m $4.4m 0.56% Reduced -24.7k -24,719
52 CIBC Asset Management Inc 0.01% of their portfolio TORONTO, Z4 55,29655.3k $4.1m $4.1m 0.01% Reduced -16.3k -16,320
53 UniSuper Management Pty Ltd 0.04% of their portfolio Melbourne, Victoria, C3 54,41354.4k $5.4m $5.4m 0.04% Added +36.4k +36,388
54 NATIONAL BANK OF CANADA /FI/ 0.00% of their portfolio MONTREAL, A8 53,65753.7k $3.9m $3.9m 0.00% Added +9.3k +9,298
55 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 51,60951.6k $3.8m $3.8m 0.00% Reduced -4.8k -4,810
56 MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 50,14350.1k $3.7m $3.7m 0.00% Added +47.0k +47,049
57 Zurcher Kantonalbank (Zurich Cantonalbank) 0.01% of their portfolio ZURICH, V8 49,09649.1k $3.6m $3.6m 0.01% Reduced -9.2k -9,219
58 CoreCommodity Management, LLC 0.58% of their portfolio STAMFORD, CT 48,03248.0k $3.5m $3.5m 0.58% Added +36.4k +36,396
59 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 46,18546.2k $3.4m $3.4m 0.00% Reduced -242.2k -242,212
60 CIBC WORLD MARKET INC. 0.01% of their portfolio TORONTO, A6 43,42043.4k $3.2m $3.2m 0.01% Added +514 +514
61 Alberta Investment Management Corp 0.02% of their portfolio EDMONTON, A0 41,68741.7k $3.1m $3.1m 0.02% Reduced -252.2k -252,216
62 SCOTIA CAPITAL INC. 0.01% of their portfolio TORONTO, A6 41,06641.1k $3.0m $3.0m 0.01% Reduced -6.5k -6,509
63 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 39,62539.6k $2.9m $2.9m 0.00% Reduced -19.2k -19,196
64 AVIVA PLC 0.01% of their portfolio LONDON, X0 37,80337.8k $2.8m $2.8m 0.01% Added +2.3k +2,251
65 Maryland State Retirement & Pension System 0.06% of their portfolio BALTIMORE, MD 37,33237.3k $2.7m $2.7m 0.06% Unchanged
66 BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 0.01% of their portfolio VICTORIA, A1 34,64234.6k $2.5m $2.5m 0.01% Added +2.3k +2,261
67 DekaBank Deutsche Girozentrale 0.00% of their portfolio FRANKFURT, 2M 34,46634.5k $2.5m $2.5m 0.00% Reduced -251 -251
68 MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.00% of their portfolio Boston, MA 31,97932.0k $2.3m $2.3m 0.00% Added +11.6k +11,563
69 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 31,76331.8k $2.3m $2.3m 0.00% Added +3.9k +3,908
70 Swiss Life Asset Management Ltd 0.01% of their portfolio Zurich, V8 30,38530.4k $2.2m $2.2m 0.01% Added +5.1k +5,133
71 Connor, Clark & Lunn Investment Management Ltd. 0.01% of their portfolio VANCOUVER, A1 28,20028.2k $2.1m $2.1m 0.01% Added +12.1k +12,100
72 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 28,08428.1k $2.1m $2.1m 0.00% Added +16.0k +15,959
73 BANCO BILBAO VIZCAYA ARGENTARIA, S.A. 0.02% of their portfolio Madrid, U3 28,07628.1k $2.1m $2.1m 0.02% Reduced -2.3k -2,291
74 Northwest & Ethical Investments L.P. 0.05% of their portfolio TORONTO, A6 27,75927.8k $2.0m $2.0m 0.05% Reduced -410 -410
75 Candriam S.C.A. 0.01% of their portfolio STRASSEN, N4 27,68827.7k $2.0m $2.0m 0.01% Unchanged
76 RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio NEW YORK, NY 26,80026.8k $2.0m $2.0m 0.00% Added +11.5k +11,500
77 Federation des caisses Desjardins du Quebec 0.01% of their portfolio LEVIS, A8 26,21826.2k $1.9m $1.9m 0.01% Reduced -1.7k -1,707
78 Metis Global Partners, LLC 0.05% of their portfolio San Diego, CA 25,47225.5k $1.9m $1.9m 0.05% Added +1.3k +1,336
79 Baird Financial Group, Inc. 0.00% of their portfolio MILWAUKEE, WI 23,91923.9k $1.8m $1.8m 0.00% Added +500 +500
80 INTACT INVESTMENT MANAGEMENT INC. 0.06% of their portfolio MONTREAL, A8 23,90023.9k $1.8m $1.8m 0.06% Unchanged
81 TD Waterhouse Canada Inc. 0.01% of their portfolio TORONTO, A6 22,05122.1k $1.7m $1.7m 0.01% Added +3.7k +3,698
82 TORONTO DOMINION BANK 0.00% of their portfolio TORONTO, ONTARIO, A6 21,31721.3k $1.6m $1.6m 0.00% Reduced -3.9k -3,896
83 MACQUARIE GROUP LTD 0.00% of their portfolio Sydney, NSW 2000, C3 21,24821.2k $2.0m $2.0m 0.00% Added +1.2k +1,197
84 Mn Services Vermogensbeheer B.V. 0.01% of their portfolio THE HAGUE, P7 19,90019.9k $1.5m $1.5m 0.01% Unchanged
85 J.W. COLE ADVISORS, INC. 0.03% of their portfolio TAMPA, FL 19,42719.4k $1.4m $1.4m 0.03% Added +240 +240
86 Quantbot Technologies LP 0.04% of their portfolio NEW YORK, NY 18,83318.8k $1.4m $1.4m 0.04% Reduced -5.8k -5,756
87 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 18,27618.3k $1.3m $1.3m 0.00% Added +16.5k +16,513
88 Polar Asset Management Partners Inc. 0.03% of their portfolio TORONTO, A6 17,50017.5k $1.3m $1.3m 0.03% New
89 TURTLE CREEK ASSET MANAGEMENT INC. 0.04% of their portfolio TORONTO, A6 17,25017.2k $1.3m $1.3m 0.04% Added +1.2k +1,200
90 Aigen Investment Management, LP 0.23% of their portfolio NEW YORK, NY 17,14917.1k $1.7m $1.7m 0.23% Added +3.5k +3,515
91 EDMOND DE ROTHSCHILD HOLDING S.A. 0.02% of their portfolio CHAMBESY, V8 16,61516.6k $1.2m $1.2m 0.02% Added +3.1k +3,102
92 Pacifica Partners Inc. 0.44% of their portfolio SURREY, Z4 14,88114.9k $1.1m $1.1m 0.44% Added +100 +100
93 Lighthouse Investment Partners, LLC 0.04% of their portfolio Palm Beach Gardens, FL 13,82713.8k $1.0m $1.0m 0.04% New
94 Verition Fund Management LLC 0.01% of their portfolio GREENWICH, CT 13,80013.8k $1.0m $1.0m 0.01% Added +8.6k +8,569
95 Lansforsakringar Fondforvaltning AB (publ) 0.01% of their portfolio Stockholm, V7 13,03913.0k $954.2k $954.2k 0.01% Unchanged
96 INTECH INVESTMENT MANAGEMENT LLC 0.01% of their portfolio WEST PALM BEACH, FL 12,98013.0k $949.9k $949.9k 0.01% Reduced -18 -18
97 Trexquant Investment LP 0.01% of their portfolio STAMFORD, CT 12,17212.2k $892.2k $892.2k 0.01% Added +2.3k +2,341
98 Fulcrum Asset Management LLP 0.25% of their portfolio LONDON, X0 11,90011.9k $873.3k $873.3k 0.25% New
99 HSBC HOLDINGS PLC 0.00% of their portfolio LONDON, X0 11,56511.6k $847.8k $847.8k 0.00% Reduced -8.8k -8,830
100 Union Bancaire Privee, UBP SA 0.01% of their portfolio GENEVA 1, V8 11,37311.4k $843.8k $843.8k 0.01% Added +398 +398