Vault-13

WEST FRASER TIMBER CO LTD WFG

COM · Common Stock · CUSIP 952845105 · ISIN CA9528451052

176 institutional holders -26 vs Q2 2025
37,393,91337.4m shares reported held*
$2.5bnreported value*
20 new 67 added 67 reduced 43 sold out net bought ≈ $136.5m (+2.0m 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 ($4.8m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $68.10. Options: 9 managers hold calls ($15.3m notional), 7 hold puts ($6.1m).

Trends to Q3 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: 202Q3 25: 176176Q3 22Q2 23Q1 24Q4 24Q3 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
Q3 2025176

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q4 23: 95 bought or addedQ4 23: 101 cut or sold outQ1 24: 98 bought or addedQ1 24: 109 cut or sold outQ1 24Q2 24: 104 bought or addedQ2 24: 101 cut or sold outQ3 24: 85 bought or addedQ3 24: 117 cut or sold outQ3 24Q4 24: 105 bought or addedQ4 24: 95 cut or sold outQ1 25: 104 bought or addedQ1 25: 107 cut or sold outQ1 25Q2 25: 104 bought or addedQ2 25: 96 cut or sold outQ3 25: 87 bought or addedQ3 25: 110 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 202395101
Q1 202498109
Q2 2024104101
Q3 202485117
Q4 202410595
Q1 2025104107
Q2 202510496
Q3 202587110

Calls vs puts

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

CallsPuts
$0$5m$10m$15m$20mQ4 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 0.94Q3 25 calls: $15.3mQ3 25 puts: $6.1mQ3 25P/C 0.40
Numbers
QuarterCallsPutsP/C
Q4 2024$6.8m$12.3m1.80
Q1 2025$3.8m$2.8m0.74
Q2 2025$6.2m$5.8m0.94
Q3 2025$15.3m$6.1m0.40

Biggest buyers

FIL Ltd Added +2,725,200+2.7m
Thrivent Financial for Lutherans New +896,852+896.9k
MACKENZIE FINANCIAL CORP Added +812,474+812.5k
MANNING & NAPIER ADVISORS LLC Added +799,422+799.4k
1832 Asset Management L.P. Added +255,710+255.7k
JANE STREET GROUP, LLC Added +244,149+244.1k
D. E. Shaw & Co., Inc. Added +206,556+206.6k
PRICE T ROWE ASSOCIATES INC /MD/ Added +203,766+203.8k
BANK OF MONTREAL /CAN/ Added +130,656+130.7k
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP Added +125,059+125.1k

Biggest sellers

ROYAL BANK OF CANADA Reduced -3,031,511-3.0m
GEODE CAPITAL MANAGEMENT, LLC Reduced -358,725-358.7k
CANADA PENSION PLAN INVESTMENT BOARD Sold out -269,683-269.7k
VAN LANSCHOT KEMPEN INVESTMENT MANAGEMENT N.V. Reduced -255,852-255.9k
Pictet Asset Management Holding SA Reduced -188,940-188.9k
BANK OF AMERICA CORP /DE/ Reduced -124,020-124.0k
DEUTSCHE BANK AG\ Reduced -109,837-109.8k
Amundi Reduced -89,547-89.5k
Legal & General Group Plc Reduced -76,152-76.2k
ONTARIO TEACHERS PENSION PLAN BOARD Sold out -68,389-68.4k

Biggest calls

CIBC WORLD MARKET INC. Added $8.3m121.8k shares
NATIONAL BANK OF CANADA /FI/ Added $2.4m349 shares
Polar Asset Management Partners Inc. New $2.0m30.0k shares
TORONTO DOMINION BANK New $1.1m16.0k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $659.4k9.7k shares
SIG North Trading, ULC Reduced $577.8k8.5k shares
CITADEL ADVISORS LLC Reduced $265.1k3.9k shares
BANK OF MONTREAL /CAN/ Reduced $20.4k300 shares
SIMPLEX TRADING, LLC Reduced $6.0k100 shares

Biggest puts

CITADEL ADVISORS LLC New $2.0m29.6k shares
NATIONAL BANK OF CANADA /FI/ Added $1.6m235 shares
SIG North Trading, ULC Reduced $1.4m20.1k shares
Walleye Trading LLC Added $693.4k10.2k shares
WOLVERINE TRADING, LLC New $331.9k4.9k shares
BANK OF MONTREAL /CAN/ Added $27.2k400 shares
SIMPLEX TRADING, LLC Reduced $27.0k400 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 Q3 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 Q3 2025.

Holders, Q3 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 FIL Ltd 0.47% of their portfolio HAMILTON, D0 8,795,5278.8m $597.9m $597.9m 0.47% Added +2.7m +2,725,200
2 ROYAL BANK OF CANADA 0.04% of their portfolio TORONTO, A6 2,994,2933.0m $203.6m $203.6m 0.04% Reduced -3.0m -3,031,511
3 PRICE T ROWE ASSOCIATES INC /MD/ 0.02% of their portfolio BALTIMORE, MD 2,810,6622.8m $191.1m $191.1m 0.02% Added +203.8k +203,766
4 BANK OF MONTREAL /CAN/ 0.07% of their portfolio TORONTO, A6 2,405,8842.4m $163.5m $163.5m 0.07% Added +130.7k +130,656
5 VANGUARD GROUP INC 0.00% of their portfolio Valley Forge, PA 2,174,5282.2m $147.8m $147.8m 0.00% Added +22.4k +22,443
6 1832 Asset Management L.P. 0.22% of their portfolio TORONTO, A6 1,898,1081.9m $129.0m $129.0m 0.22% Added +255.7k +255,710
7 MACKENZIE FINANCIAL CORP 0.14% of their portfolio TORONTO ONTARIO, A6 1,720,0941.7m $116.9m $116.9m 0.14% Added +812.5k +812,474
8 MANNING & NAPIER ADVISORS LLC 1.45% of their portfolio Fairport, NY 1,671,8461.7m $113.7m $113.7m 1.45% Added +799.4k +799,422
9 FMR LLC 0.00% of their portfolio BOSTON, MA 1,338,3631.3m $91.0m $91.0m 0.00% Added +48.4k +48,443
10 LETKO, BROSSEAU & ASSOCIATES INC 1.34% of their portfolio MONTREAL, A8 1,149,1691.1m $78.1m $78.1m 1.34% Added +30.3k +30,315
11 Thrivent Financial for Lutherans 0.12% of their portfolio Minneapolis, MN 896,852896.9k $61.0m $61.0m 0.12% New
12 Pictet Asset Management Holding SA 0.05% of their portfolio CAROUGE, V8 836,805836.8k $56.9m $56.9m 0.05% Reduced -188.9k -188,940
13 Vontobel Holding Ltd. 0.09% of their portfolio ZURICH, V8 408,141408.1k $27.7m $27.7m 0.09% Reduced -13.5k -13,509
14 DIMENSIONAL FUND ADVISORS LP 0.01% of their portfolio AUSTIN, TX 353,444353.4k $24.0m $24.0m 0.01% Added +121.6k +121,599
15 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio SAN FRANCISCO, CA 308,490308.5k $21.0m $21.0m 0.00% Added +31.2k +31,191
16 HORIZON KINETICS ASSET MANAGEMENT LLC 0.25% of their portfolio NEW YORK, NY 296,006296.0k $20.1m $20.1m 0.25% Reduced -8.8k -8,832
17 ROBOTTI ROBERT 3.46% of their portfolio NEW YORK, NY 293,224293.2k $19.9m $19.9m 3.46% Reduced -2.1k -2,064
18 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 288,187288.2k $19.6m $19.6m 0.00% Reduced -13.1k -13,128
19 BlackRock, Inc. 0.00% of their portfolio New York, NY 287,431287.4k $19.5m $19.5m 0.00% Added +22.4k +22,449
20 DEUTSCHE BANK AG\ 0.01% of their portfolio FRANKFURT AM MAIN, 2M 276,940276.9k $18.8m $18.8m 0.01% Reduced -109.8k -109,837
21 Lightrock Netherlands B.V. 4.17% of their portfolio UTRECHT, P7 275,803275.8k $16.0m $16.0m 4.17% Added +16.5k +16,500
22 D. E. Shaw & Co., Inc. 0.02% of their portfolio New York, NY 273,907273.9k $18.6m $18.6m 0.02% Added +206.6k +206,556
23 Grantham, Mayo, Van Otterloo & Co. LLC 0.05% of their portfolio Boston, MA 264,974265.0k $18.0m $18.0m 0.05% Reduced -28.7k -28,725
24 VAN ECK ASSOCIATES CORP 0.02% of their portfolio NEW YORK, NY 262,556262.6k $17.8m $17.8m 0.02% Added +96.4k +96,414
25 TD Asset Management Inc 0.01% of their portfolio Toronto, A6 252,611252.6k $17.2m $17.2m 0.01% Added +73.7k +73,727
26 JANE STREET GROUP, LLC 0.02% of their portfolio NEW YORK, NY 250,570250.6k $17.0m $17.0m 0.02% Added +244.1k +244,149
27 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 244,928244.9k $16.7m $16.7m 0.00% Reduced -12.0k -12,049
28 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 218,040218.0k $14.8m $14.8m 0.00% Reduced -124.0k -124,020
29 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.01% of their portfolio Toronto, A6 202,632202.6k $13.8m $13.8m 0.01% Added +21.3k +21,257
30 ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.01% of their portfolio BOSTON, MA 196,647196.6k $13.4m $13.4m 0.01% Added +125.1k +125,059
31 VAN LANSCHOT KEMPEN INVESTMENT MANAGEMENT N.V. 0.16% of their portfolio AMSTERDAM, P7 187,134187.1k $17.7m $17.7m 0.16% Reduced -255.9k -255,852
32 Legal & General Group Plc 0.00% of their portfolio London, X0 186,947186.9k $12.7m $12.7m 0.00% Reduced -76.2k -76,152
33 TWO SIGMA INVESTMENTS, LP 0.02% of their portfolio NEW YORK, NY 178,564178.6k $12.1m $12.1m 0.02% Added +104.1k +104,082
34 UBS Group AG 0.00% of their portfolio ZURICH, V8 177,901177.9k $12.1m $12.1m 0.00% Added +93.8k +93,773
35 Allianz Asset Management GmbH 0.01% of their portfolio MUNICH, 2M 155,783155.8k $10.6m $10.6m 0.01% Reduced -12.7k -12,673
36 Amundi 0.00% of their portfolio Paris, I0 151,253151.3k $10.7m $10.7m 0.00% Reduced -89.5k -89,547
37 AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio KANSAS CITY, MO 141,302141.3k $9.6m $9.6m 0.00% Added +43.9k +43,939
38 Cerity Partners LLC 0.02% of their portfolio NEW YORK, NY 140,104140.1k $9.5m $9.5m 0.02% Reduced -3.1k -3,072
39 Galibier Capital Management Ltd. 3.07% of their portfolio TORONTO, A6 135,552135.6k $9.2m $9.2m 3.07% Reduced -14.7k -14,746
40 Connor, Clark & Lunn Investment Management Ltd. 0.03% of their portfolio VANCOUVER, A1 126,041126.0k $8.6m $8.6m 0.03% Added +97.8k +97,841
41 Smead Capital Management, Inc. 0.16% of their portfolio Phoenix, AZ 120,378120.4k $8.2m $8.2m 0.16% Unchanged
42 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 105,833105.8k $7.2m $7.2m 0.00% Reduced -9.0k -9,017
43 Swiss National Bank 0.00% of their portfolio ZURICH, V8 104,300104.3k $7.1m $7.1m 0.00% Reduced -59.8k -59,838
44 BANK OF NOVA SCOTIA 0.01% of their portfolio TORONTO, A6 88,81288.8k $6.0m $6.0m 0.01% Added +9.0k +8,994
45 T. Rowe Price Investment Management, Inc. 0.00% of their portfolio BALTIMORE, MD 88,43588.4k $6.0m $6.0m 0.00% Reduced -43.7k -43,690
46 NATIONAL BANK OF CANADA /FI/ 0.00% of their portfolio MONTREAL, A8 63,90363.9k $4.3m $4.3m 0.00% Added +10.2k +10,246
47 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 63,16563.2k $4.3m $4.3m 0.00% Added +44.9k +44,889
48 CANADA LIFE ASSURANCE Co 0.01% of their portfolio WINNIPEG, A2 62,42662.4k $4.2m $4.2m 0.01% Reduced -38.4k -38,379
49 Quadrature Capital Ltd 0.05% of their portfolio LONDON, X0 60,60060.6k $4.1m $4.1m 0.05% New
50 UniSuper Management Pty Ltd 0.03% of their portfolio Melbourne, Victoria, C3 58,97159.0k $5.6m $5.6m 0.03% Added +4.6k +4,558
51 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 56,43556.4k $3.8m $3.8m 0.00% Added +24.7k +24,672
52 CIBC Asset Management Inc 0.01% of their portfolio TORONTO, Z4 55,06855.1k $3.7m $3.7m 0.01% Reduced -228 -228
53 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 51,97652.0k $3.5m $3.5m 0.00% Reduced -358.7k -358,725
54 CIBC WORLD MARKET INC. 0.01% of their portfolio TORONTO, A6 51,65651.7k $3.5m $3.5m 0.01% Added +8.2k +8,236
55 SCOTIA CAPITAL INC. 0.01% of their portfolio TORONTO, A6 48,74348.7k $3.3m $3.3m 0.01% Added +7.7k +7,677
56 TWO SIGMA ADVISERS, LP 0.01% of their portfolio NEW YORK, NY 44,23444.2k $3.0m $3.0m 0.01% Added +40.3k +40,334
57 CREDIT AGRICOLE S A 0.01% of their portfolio Montrouge Cedex, I0 43,90043.9k $3.0m $3.0m 0.01% First filing
58 Quantbot Technologies LP 0.08% of their portfolio NEW YORK, NY 43,55243.6k $3.0m $3.0m 0.08% Added +24.7k +24,719
59 DekaBank Deutsche Girozentrale 0.00% of their portfolio FRANKFURT, 2M 34,46634.5k $2.3m $2.3m 0.00% Unchanged
60 Nuveen, LLC 0.00% of their portfolio CHARLOTTE, NC 34,42834.4k $2.3m $2.3m 0.00% Reduced -31.0k -31,021
61 CoreCommodity Management, LLC 0.41% of their portfolio STAMFORD, CT 33,60833.6k $2.3m $2.3m 0.41% Reduced -14.4k -14,424
62 BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 0.01% of their portfolio VICTORIA, A1 33,07733.1k $2.2m $2.2m 0.01% Reduced -1.6k -1,565
63 Maryland State Retirement & Pension System 0.05% of their portfolio BALTIMORE, MD 32,99633.0k $2.2m $2.2m 0.05% Reduced -4.3k -4,336
64 PRINCIPAL FINANCIAL GROUP INC 0.00% of their portfolio DES MOINES, IA 32,11232.1k $2.2m $2.2m 0.00% Added +22.3k +22,283
65 Federation des caisses Desjardins du Quebec 0.01% of their portfolio LEVIS, A8 30,53330.5k $2.1m $2.1m 0.01% Added +4.3k +4,315
66 Metis Global Partners, LLC 0.05% of their portfolio San Diego, CA 28,91728.9k $2.0m $2.0m 0.05% Added +3.4k +3,445
67 Northwest & Ethical Investments L.P. 0.04% of their portfolio TORONTO, A6 27,97928.0k $1.9m $1.9m 0.04% Added +220 +220
68 RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio NEW YORK, NY 27,90027.9k $1.9m $1.9m 0.00% Added +1.1k +1,100
69 Candriam S.C.A. 0.01% of their portfolio STRASSEN, N4 27,68827.7k $1.9m $1.9m 0.01% Unchanged
70 SIG North Trading, ULC 0.29% of their portfolio Bala Cynwyd, PA 27,30327.3k $1.9m $1.9m 0.29% New
71 Swiss Life Asset Management Ltd 0.01% of their portfolio Zurich, V8 23,97424.0k $1.6m $1.6m 0.01% Reduced -6.4k -6,411
72 Baird Financial Group, Inc. 0.00% of their portfolio MILWAUKEE, WI 23,91923.9k $1.6m $1.6m 0.00% Unchanged
73 Genus Capital Management Inc. 0.19% of their portfolio VANCOUVER, A1 23,68523.7k $1.6m $1.6m 0.19% Reduced -36.0k -35,970
74 Verition Fund Management LLC 0.01% of their portfolio GREENWICH, CT 23,45823.5k $1.6m $1.6m 0.01% Added +9.7k +9,658
75 TD Waterhouse Canada Inc. 0.01% of their portfolio TORONTO, A6 21,06421.1k $1.4m $1.4m 0.01% Reduced -987 -987
76 EDMOND DE ROTHSCHILD HOLDING S.A. 0.02% of their portfolio CHAMBESY, V8 20,71220.7k $1.4m $1.4m 0.02% Added +4.1k +4,097
77 CenterBook Partners LP 0.07% of their portfolio GREENWICH, CT 19,97920.0k $1.4m $1.4m 0.07% New
78 SUSQUEHANNA ADVISORS GROUP, INC. 0.04% of their portfolio BALA CYNWYD, PA 19,51019.5k $1.3m $1.3m 0.04% Added +8.6k +8,577
79 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 19,36519.4k $1.3m $1.3m 0.00% Reduced -20.3k -20,260
80 Schonfeld Strategic Advisors LLC 0.01% of their portfolio NEW YORK, NY 18,72518.7k $1.3m $1.3m 0.01% New
81 TURTLE CREEK ASSET MANAGEMENT INC. 0.04% of their portfolio TORONTO, A6 17,35017.4k $1.2m $1.2m 0.04% Added +100 +100
82 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 16,74216.7k $1.1m $1.1m 0.00% Added +8.9k +8,942
83 Aigen Investment Management, LP 0.20% of their portfolio NEW YORK, NY 14,48414.5k $1.3m $1.3m 0.20% Reduced -2.7k -2,665
84 Hudson Bay Capital Management LP 0.01% of their portfolio STAMFORD, CT 14,00014.0k $951.7k $951.7k 0.01% New
85 Pacifica Partners Inc. 0.34% of their portfolio SURREY, Z4 13,85113.9k $939.5k $939.5k 0.34% Reduced -1.0k -1,030
86 J.W. COLE ADVISORS, INC. 0.02% of their portfolio TAMPA, FL 12,79112.8k $869.5k $869.5k 0.02% Reduced -6.6k -6,636
87 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 12,02112.0k $817.4k $817.4k 0.00% Reduced -16.1k -16,063
88 Fulcrum Asset Management LLP 0.22% of their portfolio LONDON, X0 11,62011.6k $789.8k $789.8k 0.22% Reduced -280 -280
89 PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.00% of their portfolio COLUMBUS, OH 11,41111.4k $776.0k $776.0k 0.00% Added +7.7k +7,736
90 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 11,27211.3k $766.2k $766.2k 0.00% Added +5.4k +5,423
91 Cubist Systematic Strategies, LLC 0.01% of their portfolio STAMFORD, CT 10,84410.8k $737.3k $737.3k 0.01% New
92 BANK OF NOVA SCOTIA TRUST CO 0.07% of their portfolio TORONTO, A6 10,46710.5k $711.5k $711.5k 0.07% Added +6.5k +6,458
93 INTACT INVESTMENT MANAGEMENT INC. 0.02% of their portfolio MONTREAL, A8 10,30010.3k $700.3k $700.3k 0.02% Reduced -13.6k -13,600
94 Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio ZURICH, V8 10,27510.3k $698.7k $698.7k 0.00% Reduced -38.8k -38,821
95 OPPENHEIMER & CO INC 0.01% of their portfolio NEW YORK, NY 10,12410.1k $688.2k $688.2k 0.01% New
96 EJF Capital LP 0.39% of their portfolio Arlington, VA 10,00010.0k $679.8k $679.8k 0.39% Unchanged
97 Anson Funds Management LP 0.07% of their portfolio DALLAS, TX 10,00010.0k $679.7k $679.7k 0.07% New
98 Point72 Asset Management, L.P. 0.00% of their portfolio STAMFORD, CT 9,6009.6k $652.7k $652.7k 0.00% New
99 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 9,1269.1k $620.4k $620.4k 0.00% Reduced -37.1k -37,059
100 MGO ONE SEVEN LLC 0.01% of their portfolio Beachwood, OH 8,8998.9k $605.0k $605.0k 0.01% Added +31 +31