Vault-13

WEST FRASER TIMBER CO LTD WFG

COM · Common Stock · CUSIP 952845105 · ISIN CA9528451052

173 institutional holders +16 vs Q4 2025
37,968,19438.0m shares reported held*
$2.5bnreported value*
33 new 64 added 50 reduced 19 sold out net bought ≈ $103.1m (+187.6k 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 ($6.4m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $65.56. Options: 4 managers hold calls ($13.4m notional), 4 hold puts ($3.8m).

Trends to Q1 2026

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: 176Q4 25: 157Q1 26: 173173Q3 22Q3 23Q3 24Q3 25Q1 26
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
Q4 2025157
Q1 2026173

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q2 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 25Q4 25: 76 bought or addedQ4 25: 95 cut or sold outQ1 26: 97 bought or addedQ1 26: 69 cut or sold outQ1 26
Numbers
QuarterBought or addedCut or sold out
Q2 2024104101
Q3 202485117
Q4 202410595
Q1 2025104107
Q2 202510496
Q3 202587110
Q4 20257695
Q1 20269769

Calls vs puts

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

CallsPuts
$0$5m$10m$15m$20mQ2 25 calls: $6.2mQ2 25 puts: $5.8mQ2 25P/C 0.94Q3 25 calls: $15.3mQ3 25 puts: $6.1mQ3 25P/C 0.40Q4 25 calls: $11.4mQ4 25 puts: $3.6mQ4 25P/C 0.31Q1 26 calls: $13.4mQ1 26 puts: $3.8mQ1 26P/C 0.28
Numbers
QuarterCallsPutsP/C
Q2 2025$6.2m$5.8m0.94
Q3 2025$15.3m$6.1m0.40
Q4 2025$11.4m$3.6m0.31
Q1 2026$13.4m$3.8m0.28

Biggest buyers

GOLDMAN SACHS GROUP INC Added +433,437+433.4k
ROYAL BANK OF CANADA Added +321,102+321.1k
SailingStone Capital Partners LLC New +261,199+261.2k
LETKO, BROSSEAU & ASSOCIATES INC Added +245,853+245.9k
QV Investors Inc. New +236,042+236.0k
DONALD SMITH & CO., INC. Added +213,472+213.5k
Invesco Ltd. Added +161,228+161.2k
BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Added +110,470+110.5k
INTACT INVESTMENT MANAGEMENT INC. Added +103,150+103.2k
NewGen Asset Management Ltd New +100,000+100.0k

Biggest sellers

BANK OF MONTREAL /CAN/ Reduced -1,392,316-1.4m
T. Rowe Price Investment Management, Inc. Reduced -240,650-240.7k
BlackRock, Inc. Reduced -225,738-225.7k
D. E. Shaw & Co., Inc. Sold out -194,859-194.9k
FMR LLC Reduced -178,182-178.2k
TWO SIGMA ADVISERS, LP Sold out -135,734-135.7k
MILLENNIUM MANAGEMENT LLC Reduced -114,398-114.4k
BANK OF AMERICA CORP /DE/ Reduced -94,545-94.5k
AQR CAPITAL MANAGEMENT LLC Reduced -75,306-75.3k
Quadrature Capital Ltd Sold out -67,800-67.8k

Biggest calls

CIBC WORLD MARKET INC. Added $8.1m124.0k shares
SIG North Trading, ULC Reduced $3.2m49.3k shares
NATIONAL BANK OF CANADA /FI/ Added $1.9m293 shares
TORONTO DOMINION BANK Reduced $189.4k2.9k shares

Biggest puts

SIG North Trading, ULC Added $3.6m55.1k shares
NATIONAL BANK OF CANADA /FI/ Reduced $176.3k27 shares
TORONTO DOMINION BANK New $32.7k500 shares
SIMPLEX TRADING, LLC Reduced $6.5k100 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 Q1 2026

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 2026.

Holders, Q1 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 FIL Ltd 0.44% of their portfolio HAMILTON, D0 8,734,2358.7m $570.5m $570.5m 0.44% Reduced -9.6k -9,624
2 PRICE T ROWE ASSOCIATES INC /MD/ 0.03% of their portfolio BALTIMORE, MD 3,694,6353.7m $241.2m $241.2m 0.03% Added +81.5k +81,496
3 ROYAL BANK OF CANADA 0.04% of their portfolio TORONTO, A6 3,450,8673.5m $225.3m $225.3m 0.04% Added +321.1k +321,102
4 MACKENZIE FINANCIAL CORP 0.14% of their portfolio TORONTO ONTARIO, A6 1,787,8831.8m $116.8m $116.8m 0.14% Reduced -48.4k -48,372
5 1832 Asset Management L.P. 0.15% of their portfolio TORONTO, A6 1,757,4301.8m $114.7m $114.7m 0.15% Added +50.1k +50,120
6 DONALD SMITH & CO., INC. 2.00% of their portfolio NEW YORK, NY 1,702,8141.7m $111.2m $111.2m 2.00% Added +213.5k +213,472
7 VANGUARD CAPITAL MANAGEMENT LLC 0.00% of their portfolio MALVERN, PA 1,518,5761.5m $99.2m $99.2m 0.00% First filing
8 MANNING & NAPIER ADVISORS LLC 1.35% of their portfolio Fairport, NY 1,462,4811.5m $95.5m $95.5m 1.35% Reduced -50.0k -49,996
9 LETKO, BROSSEAU & ASSOCIATES INC 1.49% of their portfolio MONTREAL, A8 1,417,2011.4m $92.3m $92.3m 1.49% Added +245.9k +245,853
10 FMR LLC 0.00% of their portfolio BOSTON, MA 1,109,3121.1m $72.5m $72.5m 0.00% Reduced -178.2k -178,182
11 Pictet Asset Management Holding SA 0.06% of their portfolio CAROUGE, V8 867,974868.0k $56.5m $56.5m 0.06% Added +21.2k +21,224
12 BANK OF MONTREAL /CAN/ 0.02% of their portfolio TORONTO, A6 846,669846.7k $55.3m $55.3m 0.02% Reduced -1.4m -1,392,316
13 GOLDMAN SACHS GROUP INC 0.01% of their portfolio NEW YORK, NY 800,486800.5k $52.3m $52.3m 0.01% Added +433.4k +433,437
14 T. Rowe Price Investment Management, Inc. 0.03% of their portfolio BALTIMORE, MD 725,657725.7k $47.4m $47.4m 0.03% Reduced -240.7k -240,650
15 VANGUARD FIDUCIARY TRUST CO 0.01% of their portfolio MALVERN, PA 465,034465.0k $30.4m $30.4m 0.01% First filing
16 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio SAN FRANCISCO, CA 394,648394.6k $25.7m $25.7m 0.00% Added +51.9k +51,883
17 DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio AUSTIN, TX 345,071345.1k $22.5m $22.5m 0.00% Reduced -5.3k -5,254
18 TWO SIGMA INVESTMENTS, LP 0.02% of their portfolio NEW YORK, NY 319,598319.6k $20.9m $20.9m 0.02% Added +61.9k +61,931
19 Lightrock Netherlands B.V. 4.28% of their portfolio UTRECHT, P7 306,721306.7k $20.1m $20.1m 4.28% Reduced -13.6k -13,582
20 ROBOTTI ROBERT 3.01% of their portfolio NEW YORK, NY 295,880295.9k $19.3m $19.3m 3.01% Reduced -455 -455
21 VAN ECK ASSOCIATES CORP 0.01% of their portfolio NEW YORK, NY 271,219271.2k $17.7m $17.7m 0.01% Added +55.5k +55,504
22 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 270,413270.4k $17.7m $17.7m 0.00% Added +161.2k +161,228
23 SailingStone Capital Partners LLC 5.40% of their portfolio Houston, TX 261,199261.2k $23.8m $23.8m 5.40% New
24 QV Investors Inc. 1.24% of their portfolio CALGARY, A0 236,042236.0k $15.4m $15.4m 1.24% New
25 AMERICAN CENTURY COMPANIES INC 0.01% of their portfolio KANSAS CITY, MO 215,959216.0k $14.1m $14.1m 0.01% Added +48.4k +48,400
26 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.01% of their portfolio Toronto, A6 200,970201.0k $13.1m $13.1m 0.01% Reduced -27.0k -26,992
27 INTACT INVESTMENT MANAGEMENT INC. 0.37% of their portfolio MONTREAL, A8 198,000198.0k $12.9m $12.9m 0.37% Added +103.2k +103,150
28 Amundi 0.00% of their portfolio Paris, I0 192,016192.0k $12.5m $12.5m 0.00% Added +57.9k +57,919
29 TD Asset Management Inc 0.01% of their portfolio Toronto, A6 183,552183.6k $12.0m $12.0m 0.01% Added +10.1k +10,063
30 Vanguard Global Advisers, LLC 0.01% of their portfolio MALVERN, PA 164,685164.7k $10.8m $10.8m 0.01% First filing
31 Allianz Asset Management GmbH 0.01% of their portfolio MUNICH, 2M 164,089164.1k $10.7m $10.7m 0.01% Added +13.4k +13,400
32 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 154,735154.7k $10.1m $10.1m 0.00% Added +39.8k +39,801
33 UBS Group AG 0.00% of their portfolio ZURICH, V8 142,831142.8k $9.3m $9.3m 0.00% Added +97.9k +97,932
34 BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 0.05% of their portfolio VICTORIA, A1 140,391140.4k $9.2m $9.2m 0.05% Added +110.5k +110,470
35 VAN LANSCHOT KEMPEN INVESTMENT MANAGEMENT N.V. 0.11% of their portfolio AMSTERDAM, P7 139,558139.6k $12.7m $12.7m 0.11% Added +99.3k +99,255
36 Cerity Partners LLC 0.01% of their portfolio NEW YORK, NY 136,437136.4k $8.9m $8.9m 0.01% Reduced -595 -595
37 Northwest & Ethical Investments L.P. 0.19% of their portfolio TORONTO, A6 124,969125.0k $8.2m $8.2m 0.19% Added +94.9k +94,900
38 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 117,523117.5k $7.7m $7.7m 0.00% Reduced -37.7k -37,652
39 Smead Capital Management, Inc. 0.16% of their portfolio Phoenix, AZ 114,778114.8k $7.5m $7.5m 0.16% Added +60.1k +60,100
40 BlackRock, Inc. 0.00% of their portfolio New York, NY 109,067109.1k $7.1m $7.1m 0.00% Reduced -225.7k -225,738
41 Legal & General Group Plc 0.00% of their portfolio London, X0 108,138108.1k $7.0m $7.0m 0.00% Reduced -3.8k -3,819
42 STOREBRAND ASSET MANAGEMENT AS 0.02% of their portfolio LYSAKER, Q8 107,616107.6k $7.0m $7.0m 0.02% Added +56.4k +56,368
43 Swiss National Bank 0.00% of their portfolio ZURICH, V8 106,200106.2k $6.9m $6.9m 0.00% Unchanged
44 SCOTIA CAPITAL INC. 0.03% of their portfolio TORONTO, A6 100,713100.7k $6.6m $6.6m 0.03% Reduced -4.9k -4,926
45 NewGen Asset Management Ltd 3.97% of their portfolio TORONTO, A6 100,000100.0k $6.5m $6.5m 3.97% New
46 Caisse de depot et placement du Quebec 0.01% of their portfolio Montreal, A8 89,44189.4k $5.8m $5.8m 0.01% New
47 BANK OF NOVA SCOTIA 0.01% of their portfolio TORONTO, A6 88,20088.2k $5.8m $5.8m 0.01% Reduced -2.8k -2,822
48 Thrivent Financial for Lutherans 0.01% of their portfolio Minneapolis, MN 83,89083.9k $5.5m $5.5m 0.01% Added +28.4k +28,408
49 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 82,33582.3k $5.4m $5.4m 0.00% Reduced -94.5k -94,545
50 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 81,44681.4k $5.3m $5.3m 0.00% Added +27.7k +27,659
51 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 62,94462.9k $4.2m $4.2m 0.00% Added +6.1k +6,086
52 TORONTO DOMINION BANK 0.01% of their portfolio TORONTO, ONTARIO, A6 56,46056.5k $3.7m $3.7m 0.01% Added +39.1k +39,123
53 Atlas FRM LLC 0.24% of their portfolio GREENWICH, CT 56,00056.0k $3.7m $3.7m 0.24% New
54 CIBC WORLD MARKET INC. 0.01% of their portfolio TORONTO, A6 54,44354.4k $3.6m $3.6m 0.01% Reduced -21.2k -21,196
55 CIBC Asset Management Inc 0.01% of their portfolio TORONTO, Z4 53,82753.8k $3.5m $3.5m 0.01% Added +1.7k +1,722
56 PRINCIPAL FINANCIAL GROUP INC 0.00% of their portfolio DES MOINES, IA 51,96452.0k $3.4m $3.4m 0.00% Added +8.8k +8,836
57 VANGUARD ASSET MANAGEMENT, Ltd 0.00% of their portfolio London, EC4N 8AF, X0 50,27050.3k $3.3m $3.3m 0.00% First filing
58 Connor, Clark & Lunn Investment Management Ltd. 0.01% of their portfolio VANCOUVER, A1 49,50849.5k $3.2m $3.2m 0.01% Added +6.8k +6,788
59 PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.01% of their portfolio COLUMBUS, OH 47,75047.8k $3.1m $3.1m 0.01% Added +370 +370
60 NATIONAL BANK OF CANADA /FI/ 0.00% of their portfolio MONTREAL, A8 45,96746.0k $2.9m $2.9m 0.00% Reduced -10.1k -10,073
61 Impala Asset Management LLC 1.49% of their portfolio Palm Beach, FL 44,82644.8k $2.9m $2.9m 1.49% New
62 CoreCommodity Management, LLC 0.53% of their portfolio STAMFORD, CT 43,58543.6k $2.8m $2.8m 0.53% Added +7.8k +7,789
63 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 40,86340.9k $2.7m $2.7m 0.00% Reduced -4.0k -3,993
64 Anson Funds Management LP 0.17% of their portfolio DALLAS, TX 40,20040.2k $2.6m $2.6m 0.17% Added +20.1k +20,100
65 Nuveen, LLC 0.00% of their portfolio CHARLOTTE, NC 37,93437.9k $2.5m $2.5m 0.00% Unchanged
66 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 33,68533.7k $2.2m $2.2m 0.00% Added +8.9k +8,934
67 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 33,64733.6k $2.2m $2.2m 0.00% Reduced -3.6k -3,623
68 Metis Global Partners, LLC 0.05% of their portfolio San Diego, CA 30,39930.4k $2.0m $2.0m 0.05% Reduced -2.8k -2,802
69 Maryland State Retirement & Pension System 0.04% of their portfolio BALTIMORE, MD 28,71728.7k $1.9m $1.9m 0.04% Reduced -2.8k -2,779
70 Federation des caisses Desjardins du Quebec 0.01% of their portfolio LEVIS, A8 28,25828.3k $1.8m $1.8m 0.01% Reduced -2.1k -2,086
71 Candriam S.C.A. 0.01% of their portfolio STRASSEN, N4 27,68827.7k $1.8m $1.8m 0.01% Unchanged
72 MGO ONE SEVEN LLC 0.03% of their portfolio Beachwood, OH 25,34525.3k $1.7m $1.7m 0.03% Added +10.5k +10,492
73 MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 23,93123.9k $1.6m $1.6m 0.00% Reduced -114.4k -114,398
74 Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio ZURICH, V8 23,56623.6k $1.5m $1.5m 0.00% Added +6.1k +6,118
75 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 22,44322.4k $1.5m $1.5m 0.00% New
76 Vontobel Holding Ltd. 0.00% of their portfolio ZURICH, V8 22,26022.3k $1.5m $1.5m 0.00% Reduced -31.4k -31,371
77 Baird Financial Group, Inc. 0.00% of their portfolio MILWAUKEE, WI 21,97522.0k $1.4m $1.4m 0.00% Reduced -1.9k -1,944
78 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 18,75018.8k $1.2m $1.2m 0.00% Reduced -1.2k -1,184
79 GUARDIAN CAPITAL LP 0.03% of their portfolio TORONTO, A6 17,93917.9k $1.2m $1.2m 0.03% Reduced -41 -41
80 RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio NEW YORK, NY 17,80017.8k $1.2m $1.2m 0.00% Reduced -24.1k -24,100
81 EDMOND DE ROTHSCHILD HOLDING S.A. 0.02% of their portfolio CHAMBESY, V8 17,53217.5k $1.1m $1.1m 0.02% Added +627 +627
82 Aquatic Capital Management LLC 0.03% of their portfolio CHICAGO, IL 16,43916.4k $1.1m $1.1m 0.03% Added +13.8k +13,821
83 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 16,04616.0k $1.0m $1.0m 0.00% Added +2.1k +2,062
84 BANK OF NOVA SCOTIA TRUST CO 0.09% of their portfolio TORONTO, A6 15,73715.7k $1.0m $1.0m 0.09% Added +5.0k +5,009
85 Alberta Investment Management Corp 0.01% of their portfolio EDMONTON, A0 15,08715.1k $985.6k $985.6k 0.01% New
86 BRANDES INVESTMENT PARTNERS, LP 0.01% of their portfolio LA JOLLA, CA 14,32514.3k $935.3k $935.3k 0.01% Added +2.4k +2,447
87 Brooklyn Investment Group 0.03% of their portfolio NEW YORK, NY 14,25814.3k $930.9k $930.9k 0.03% Added +10.6k +10,623
88 Alesco Advisors, LLC, An ESL Co 0.02% of their portfolio Pittsford, NY 14,15714.2k $924.3k $924.3k 0.02% New
89 Aviso Financial Inc. 0.03% of their portfolio TORONTO, A6 14,06814.1k $917.9k $917.9k 0.03% New
90 TURTLE CREEK ASSET MANAGEMENT INC. 0.03% of their portfolio TORONTO, A6 13,75013.8k $897.7k $897.7k 0.03% Reduced -1.7k -1,700
91 Quantbot Technologies LP 0.04% of their portfolio NEW YORK, NY 13,54313.5k $884.2k $884.2k 0.04% Reduced -24.5k -24,457
92 CANADA LIFE ASSURANCE Co 0.00% of their portfolio WINNIPEG, A2 13,51713.5k $836.0k $836.0k 0.00% Reduced -29 -29
93 Vanguard Investments Australia, Ltd. 0.00% of their portfolio Victoria, C3 13,46213.5k $879.3k $879.3k 0.00% First filing
94 NEUBERGER BERMAN GROUP LLC 0.00% of their portfolio NEW YORK, NY 12,08412.1k $775.5k $775.5k 0.00% Added +5.1k +5,135
95 Swiss Life Asset Management Ltd 0.00% of their portfolio Zurich, V8 11,59911.6k $756.7k $756.7k 0.00% Reduced -9.0k -8,966
96 CAPSTONE INVESTMENT ADVISORS, LLC 0.01% of their portfolio NEW YORK, NY 10,50010.5k $685.5k $685.5k 0.01% New
97 EJF Capital LP 0.46% of their portfolio Arlington, VA 10,00010.0k $652.9k $652.9k 0.46% Unchanged
98 TD Waterhouse Canada Inc. 0.00% of their portfolio TORONTO, A6 9,9459.9k $641.5k $641.5k 0.00% Added +2.1k +2,097
99 NATIXIS 0.00% of their portfolio PARIS, I0 9,1929.2k $600.1k $600.1k 0.00% Added +1.3k +1,266
100 Union Bancaire Privee, UBP SA 0.01% of their portfolio GENEVA 1, V8 8,4778.5k $541.3k $541.3k 0.01% Added +39 +39