WEST FRASER TIMBER CO LTD WFG
COM · Common Stock · CUSIP 952845105 · ISIN CA9528451052
- SectorMaterials
- IndustrySawmills & Planting Mills, General
- FilingsSEC EDGAR
* 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
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 182 |
| Q4 2022 | 199 |
| Q1 2023 | 195 |
| Q2 2023 | 199 |
| Q3 2023 | 204 |
| Q4 2023 | 199 |
| Q1 2024 | 201 |
| Q2 2024 | 207 |
| Q3 2024 | 208 |
| Q4 2024 | 211 |
| Q1 2025 | 214 |
| Q2 2025 | 202 |
| Q3 2025 | 176 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q4 2023 | 95 | 101 |
| Q1 2024 | 98 | 109 |
| Q2 2024 | 104 | 101 |
| Q3 2024 | 85 | 117 |
| Q4 2024 | 105 | 95 |
| Q1 2025 | 104 | 107 |
| Q2 2025 | 104 | 96 |
| Q3 2025 | 87 | 110 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q4 2024 | $6.8m | $12.3m | 1.80 |
| Q1 2025 | $3.8m | $2.8m | 0.74 |
| Q2 2025 | $6.2m | $5.8m | 0.94 |
| Q3 2025 | $15.3m | $6.1m | 0.40 |
Biggest buyers
| FIL Ltd | Added | +2.7m |
| Thrivent Financial for Lutherans | New | +896.9k |
| MACKENZIE FINANCIAL CORP | Added | +812.5k |
| MANNING & NAPIER ADVISORS LLC | Added | +799.4k |
| 1832 Asset Management L.P. | Added | +255.7k |
| JANE STREET GROUP, LLC | Added | +244.1k |
| D. E. Shaw & Co., Inc. | Added | +206.6k |
| PRICE T ROWE ASSOCIATES INC /MD/ | Added | +203.8k |
| BANK OF MONTREAL /CAN/ | Added | +130.7k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | Added | +125.1k |
Biggest sellers
| ROYAL BANK OF CANADA | Reduced | -3.0m |
| GEODE CAPITAL MANAGEMENT, LLC | Reduced | -358.7k |
| CANADA PENSION PLAN INVESTMENT BOARD | Sold out | -269.7k |
| VAN LANSCHOT KEMPEN INVESTMENT MANAGEMENT N.V. | Reduced | -255.9k |
| Pictet Asset Management Holding SA | Reduced | -188.9k |
| BANK OF AMERICA CORP /DE/ | Reduced | -124.0k |
| DEUTSCHE BANK AG\ | Reduced | -109.8k |
| Amundi | Reduced | -89.5k |
| Legal & General Group Plc | Reduced | -76.2k |
| ONTARIO TEACHERS PENSION PLAN BOARD | Sold out | -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.
| Holder | Stake |
|---|---|
| FIL Ltd 13G · institution +3.6 pts · filed 2025-09-08 | 11.5% |
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
| Manager | Shares | Change |
|---|---|---|
| FIL Ltd 0.47% of their portfolio | 8.8m $597.9m | Added +2.7m |
| ROYAL BANK OF CANADA 0.04% of their portfolio | 3.0m $203.6m | Reduced -3.0m |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.02% of their portfolio | 2.8m $191.1m | Added +203.8k |
| BANK OF MONTREAL /CAN/ 0.07% of their portfolio | 2.4m $163.5m | Added +130.7k |
| VANGUARD GROUP INC 0.00% of their portfolio | 2.2m $147.8m | Added +22.4k |
| 1832 Asset Management L.P. 0.22% of their portfolio | 1.9m $129.0m | Added +255.7k |
| MACKENZIE FINANCIAL CORP 0.14% of their portfolio | 1.7m $116.9m | Added +812.5k |
| MANNING & NAPIER ADVISORS LLC 1.45% of their portfolio | 1.7m $113.7m | Added +799.4k |
| FMR LLC 0.00% of their portfolio | 1.3m $91.0m | Added +48.4k |
| LETKO, BROSSEAU & ASSOCIATES INC 1.34% of their portfolio | 1.1m $78.1m | Added +30.3k |
| Thrivent Financial for Lutherans 0.12% of their portfolio | 896.9k $61.0m | New |
| Pictet Asset Management Holding SA 0.05% of their portfolio | 836.8k $56.9m | Reduced -188.9k |
| Vontobel Holding Ltd. 0.09% of their portfolio | 408.1k $27.7m | Reduced -13.5k |
| DIMENSIONAL FUND ADVISORS LP 0.01% of their portfolio | 353.4k $24.0m | Added +121.6k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 308.5k $21.0m | Added +31.2k |
| HORIZON KINETICS ASSET MANAGEMENT LLC 0.25% of their portfolio | 296.0k $20.1m | Reduced -8.8k |
| ROBOTTI ROBERT 3.46% of their portfolio | 293.2k $19.9m | Reduced -2.1k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 288.2k $19.6m | Reduced -13.1k |
| BlackRock, Inc. 0.00% of their portfolio | 287.4k $19.5m | Added +22.4k |
| DEUTSCHE BANK AG\ 0.01% of their portfolio | 276.9k $18.8m | Reduced -109.8k |
| Lightrock Netherlands B.V. 4.17% of their portfolio | 275.8k $16.0m | Added +16.5k |
| D. E. Shaw & Co., Inc. 0.02% of their portfolio | 273.9k $18.6m | Added +206.6k |
| Grantham, Mayo, Van Otterloo & Co. LLC 0.05% of their portfolio | 265.0k $18.0m | Reduced -28.7k |
| VAN ECK ASSOCIATES CORP 0.02% of their portfolio | 262.6k $17.8m | Added +96.4k |
| TD Asset Management Inc 0.01% of their portfolio | 252.6k $17.2m | Added +73.7k |
| JANE STREET GROUP, LLC 0.02% of their portfolio | 250.6k $17.0m | Added +244.1k |
| MORGAN STANLEY 0.00% of their portfolio | 244.9k $16.7m | Reduced -12.0k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 218.0k $14.8m | Reduced -124.0k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.01% of their portfolio | 202.6k $13.8m | Added +21.3k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.01% of their portfolio | 196.6k $13.4m | Added +125.1k |
| VAN LANSCHOT KEMPEN INVESTMENT MANAGEMENT N.V. 0.16% of their portfolio | 187.1k $17.7m | Reduced -255.9k |
| Legal & General Group Plc 0.00% of their portfolio | 186.9k $12.7m | Reduced -76.2k |
| TWO SIGMA INVESTMENTS, LP 0.02% of their portfolio | 178.6k $12.1m | Added +104.1k |
| UBS Group AG 0.00% of their portfolio | 177.9k $12.1m | Added +93.8k |
| Allianz Asset Management GmbH 0.01% of their portfolio | 155.8k $10.6m | Reduced -12.7k |
| Amundi 0.00% of their portfolio | 151.3k $10.7m | Reduced -89.5k |
| AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio | 141.3k $9.6m | Added +43.9k |
| Cerity Partners LLC 0.02% of their portfolio | 140.1k $9.5m | Reduced -3.1k |
| Galibier Capital Management Ltd. 3.07% of their portfolio | 135.6k $9.2m | Reduced -14.7k |
| Connor, Clark & Lunn Investment Management Ltd. 0.03% of their portfolio | 126.0k $8.6m | Added +97.8k |
| Smead Capital Management, Inc. 0.16% of their portfolio | 120.4k $8.2m | Unchanged |
| Invesco Ltd. 0.00% of their portfolio | 105.8k $7.2m | Reduced -9.0k |
| Swiss National Bank 0.00% of their portfolio | 104.3k $7.1m | Reduced -59.8k |
| BANK OF NOVA SCOTIA 0.01% of their portfolio | 88.8k $6.0m | Added +9.0k |
| T. Rowe Price Investment Management, Inc. 0.00% of their portfolio | 88.4k $6.0m | Reduced -43.7k |
| NATIONAL BANK OF CANADA /FI/ 0.00% of their portfolio | 63.9k $4.3m | Added +10.2k |
| BARCLAYS PLC 0.00% of their portfolio | 63.2k $4.3m | Added +44.9k |
| CANADA LIFE ASSURANCE Co 0.01% of their portfolio | 62.4k $4.2m | Reduced -38.4k |
| Quadrature Capital Ltd 0.05% of their portfolio | 60.6k $4.1m | New |
| UniSuper Management Pty Ltd 0.03% of their portfolio | 59.0k $5.6m | Added +4.6k |
| ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio | 56.4k $3.8m | Added +24.7k |
| CIBC Asset Management Inc 0.01% of their portfolio | 55.1k $3.7m | Reduced -228 |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 52.0k $3.5m | Reduced -358.7k |
| CIBC WORLD MARKET INC. 0.01% of their portfolio | 51.7k $3.5m | Added +8.2k |
| SCOTIA CAPITAL INC. 0.01% of their portfolio | 48.7k $3.3m | Added +7.7k |
| TWO SIGMA ADVISERS, LP 0.01% of their portfolio | 44.2k $3.0m | Added +40.3k |
| CREDIT AGRICOLE S A 0.01% of their portfolio | 43.9k $3.0m | First filing |
| Quantbot Technologies LP 0.08% of their portfolio | 43.6k $3.0m | Added +24.7k |
| DekaBank Deutsche Girozentrale 0.00% of their portfolio | 34.5k $2.3m | Unchanged |
| Nuveen, LLC 0.00% of their portfolio | 34.4k $2.3m | Reduced -31.0k |
| CoreCommodity Management, LLC 0.41% of their portfolio | 33.6k $2.3m | Reduced -14.4k |
| BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 0.01% of their portfolio | 33.1k $2.2m | Reduced -1.6k |
| Maryland State Retirement & Pension System 0.05% of their portfolio | 33.0k $2.2m | Reduced -4.3k |
| PRINCIPAL FINANCIAL GROUP INC 0.00% of their portfolio | 32.1k $2.2m | Added +22.3k |
| Federation des caisses Desjardins du Quebec 0.01% of their portfolio | 30.5k $2.1m | Added +4.3k |
| Metis Global Partners, LLC 0.05% of their portfolio | 28.9k $2.0m | Added +3.4k |
| Northwest & Ethical Investments L.P. 0.04% of their portfolio | 28.0k $1.9m | Added +220 |
| RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio | 27.9k $1.9m | Added +1.1k |
| Candriam S.C.A. 0.01% of their portfolio | 27.7k $1.9m | Unchanged |
| SIG North Trading, ULC 0.29% of their portfolio | 27.3k $1.9m | New |
| Swiss Life Asset Management Ltd 0.01% of their portfolio | 24.0k $1.6m | Reduced -6.4k |
| Baird Financial Group, Inc. 0.00% of their portfolio | 23.9k $1.6m | Unchanged |
| Genus Capital Management Inc. 0.19% of their portfolio | 23.7k $1.6m | Reduced -36.0k |
| Verition Fund Management LLC 0.01% of their portfolio | 23.5k $1.6m | Added +9.7k |
| TD Waterhouse Canada Inc. 0.01% of their portfolio | 21.1k $1.4m | Reduced -987 |
| EDMOND DE ROTHSCHILD HOLDING S.A. 0.02% of their portfolio | 20.7k $1.4m | Added +4.1k |
| CenterBook Partners LP 0.07% of their portfolio | 20.0k $1.4m | New |
| SUSQUEHANNA ADVISORS GROUP, INC. 0.04% of their portfolio | 19.5k $1.3m | Added +8.6k |
| Russell Investments Group, Ltd. 0.00% of their portfolio | 19.4k $1.3m | Reduced -20.3k |
| Schonfeld Strategic Advisors LLC 0.01% of their portfolio | 18.7k $1.3m | New |
| TURTLE CREEK ASSET MANAGEMENT INC. 0.04% of their portfolio | 17.4k $1.2m | Added +100 |
| Cetera Investment Advisers 0.00% of their portfolio | 16.7k $1.1m | Added +8.9k |
| Aigen Investment Management, LP 0.20% of their portfolio | 14.5k $1.3m | Reduced -2.7k |
| Hudson Bay Capital Management LP 0.01% of their portfolio | 14.0k $951.7k | New |
| Pacifica Partners Inc. 0.34% of their portfolio | 13.9k $939.5k | Reduced -1.0k |
| J.W. COLE ADVISORS, INC. 0.02% of their portfolio | 12.8k $869.5k | Reduced -6.6k |
| WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio | 12.0k $817.4k | Reduced -16.1k |
| Fulcrum Asset Management LLP 0.22% of their portfolio | 11.6k $789.8k | Reduced -280 |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.00% of their portfolio | 11.4k $776.0k | Added +7.7k |
| LPL Financial LLC 0.00% of their portfolio | 11.3k $766.2k | Added +5.4k |
| Cubist Systematic Strategies, LLC 0.01% of their portfolio | 10.8k $737.3k | New |
| BANK OF NOVA SCOTIA TRUST CO 0.07% of their portfolio | 10.5k $711.5k | Added +6.5k |
| INTACT INVESTMENT MANAGEMENT INC. 0.02% of their portfolio | 10.3k $700.3k | Reduced -13.6k |
| Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio | 10.3k $698.7k | Reduced -38.8k |
| OPPENHEIMER & CO INC 0.01% of their portfolio | 10.1k $688.2k | New |
| EJF Capital LP 0.39% of their portfolio | 10.0k $679.8k | Unchanged |
| Anson Funds Management LP 0.07% of their portfolio | 10.0k $679.7k | New |
| Point72 Asset Management, L.P. 0.00% of their portfolio | 9.6k $652.7k | New |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 9.1k $620.4k | Reduced -37.1k |
| MGO ONE SEVEN LLC 0.01% of their portfolio | 8.9k $605.0k | Added +31 |