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 ($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
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 |
| Q4 2025 | 157 |
| Q1 2026 | 173 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q2 2024 | 104 | 101 |
| Q3 2024 | 85 | 117 |
| Q4 2024 | 105 | 95 |
| Q1 2025 | 104 | 107 |
| Q2 2025 | 104 | 96 |
| Q3 2025 | 87 | 110 |
| Q4 2025 | 76 | 95 |
| Q1 2026 | 97 | 69 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2025 | $6.2m | $5.8m | 0.94 |
| Q3 2025 | $15.3m | $6.1m | 0.40 |
| Q4 2025 | $11.4m | $3.6m | 0.31 |
| Q1 2026 | $13.4m | $3.8m | 0.28 |
Biggest buyers
| GOLDMAN SACHS GROUP INC | Added | +433.4k |
| ROYAL BANK OF CANADA | Added | +321.1k |
| SailingStone Capital Partners LLC | New | +261.2k |
| LETKO, BROSSEAU & ASSOCIATES INC | Added | +245.9k |
| QV Investors Inc. | New | +236.0k |
| DONALD SMITH & CO., INC. | Added | +213.5k |
| Invesco Ltd. | Added | +161.2k |
| BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp | Added | +110.5k |
| INTACT INVESTMENT MANAGEMENT INC. | Added | +103.2k |
| NewGen Asset Management Ltd | New | +100.0k |
Biggest sellers
| BANK OF MONTREAL /CAN/ | Reduced | -1.4m |
| T. Rowe Price Investment Management, Inc. | Reduced | -240.7k |
| BlackRock, Inc. | Reduced | -225.7k |
| D. E. Shaw & Co., Inc. | Sold out | -194.9k |
| FMR LLC | Reduced | -178.2k |
| TWO SIGMA ADVISERS, LP | Sold out | -135.7k |
| MILLENNIUM MANAGEMENT LLC | Reduced | -114.4k |
| BANK OF AMERICA CORP /DE/ | Reduced | -94.5k |
| AQR CAPITAL MANAGEMENT LLC | Reduced | -75.3k |
| Quadrature Capital Ltd | Sold out | -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.
| Holder | Stake |
|---|---|
| FIL Ltd 13G · institution +3.6 pts · filed 2025-09-08 | 11.5% |
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
| Manager | Shares | Change |
|---|---|---|
| FIL Ltd 0.44% of their portfolio | 8.7m $570.5m | Reduced -9.6k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.03% of their portfolio | 3.7m $241.2m | Added +81.5k |
| ROYAL BANK OF CANADA 0.04% of their portfolio | 3.5m $225.3m | Added +321.1k |
| MACKENZIE FINANCIAL CORP 0.14% of their portfolio | 1.8m $116.8m | Reduced -48.4k |
| 1832 Asset Management L.P. 0.15% of their portfolio | 1.8m $114.7m | Added +50.1k |
| DONALD SMITH & CO., INC. 2.00% of their portfolio | 1.7m $111.2m | Added +213.5k |
| VANGUARD CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 1.5m $99.2m | First filing |
| MANNING & NAPIER ADVISORS LLC 1.35% of their portfolio | 1.5m $95.5m | Reduced -50.0k |
| LETKO, BROSSEAU & ASSOCIATES INC 1.49% of their portfolio | 1.4m $92.3m | Added +245.9k |
| FMR LLC 0.00% of their portfolio | 1.1m $72.5m | Reduced -178.2k |
| Pictet Asset Management Holding SA 0.06% of their portfolio | 868.0k $56.5m | Added +21.2k |
| BANK OF MONTREAL /CAN/ 0.02% of their portfolio | 846.7k $55.3m | Reduced -1.4m |
| GOLDMAN SACHS GROUP INC 0.01% of their portfolio | 800.5k $52.3m | Added +433.4k |
| T. Rowe Price Investment Management, Inc. 0.03% of their portfolio | 725.7k $47.4m | Reduced -240.7k |
| VANGUARD FIDUCIARY TRUST CO 0.01% of their portfolio | 465.0k $30.4m | First filing |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 394.6k $25.7m | Added +51.9k |
| DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio | 345.1k $22.5m | Reduced -5.3k |
| TWO SIGMA INVESTMENTS, LP 0.02% of their portfolio | 319.6k $20.9m | Added +61.9k |
| Lightrock Netherlands B.V. 4.28% of their portfolio | 306.7k $20.1m | Reduced -13.6k |
| ROBOTTI ROBERT 3.01% of their portfolio | 295.9k $19.3m | Reduced -455 |
| VAN ECK ASSOCIATES CORP 0.01% of their portfolio | 271.2k $17.7m | Added +55.5k |
| Invesco Ltd. 0.00% of their portfolio | 270.4k $17.7m | Added +161.2k |
| SailingStone Capital Partners LLC 5.40% of their portfolio | 261.2k $23.8m | New |
| QV Investors Inc. 1.24% of their portfolio | 236.0k $15.4m | New |
| AMERICAN CENTURY COMPANIES INC 0.01% of their portfolio | 216.0k $14.1m | Added +48.4k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.01% of their portfolio | 201.0k $13.1m | Reduced -27.0k |
| INTACT INVESTMENT MANAGEMENT INC. 0.37% of their portfolio | 198.0k $12.9m | Added +103.2k |
| Amundi 0.00% of their portfolio | 192.0k $12.5m | Added +57.9k |
| TD Asset Management Inc 0.01% of their portfolio | 183.6k $12.0m | Added +10.1k |
| Vanguard Global Advisers, LLC 0.01% of their portfolio | 164.7k $10.8m | First filing |
| Allianz Asset Management GmbH 0.01% of their portfolio | 164.1k $10.7m | Added +13.4k |
| ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio | 154.7k $10.1m | Added +39.8k |
| UBS Group AG 0.00% of their portfolio | 142.8k $9.3m | Added +97.9k |
| BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 0.05% of their portfolio | 140.4k $9.2m | Added +110.5k |
| VAN LANSCHOT KEMPEN INVESTMENT MANAGEMENT N.V. 0.11% of their portfolio | 139.6k $12.7m | Added +99.3k |
| Cerity Partners LLC 0.01% of their portfolio | 136.4k $8.9m | Reduced -595 |
| Northwest & Ethical Investments L.P. 0.19% of their portfolio | 125.0k $8.2m | Added +94.9k |
| MORGAN STANLEY 0.00% of their portfolio | 117.5k $7.7m | Reduced -37.7k |
| Smead Capital Management, Inc. 0.16% of their portfolio | 114.8k $7.5m | Added +60.1k |
| BlackRock, Inc. 0.00% of their portfolio | 109.1k $7.1m | Reduced -225.7k |
| Legal & General Group Plc 0.00% of their portfolio | 108.1k $7.0m | Reduced -3.8k |
| STOREBRAND ASSET MANAGEMENT AS 0.02% of their portfolio | 107.6k $7.0m | Added +56.4k |
| Swiss National Bank 0.00% of their portfolio | 106.2k $6.9m | Unchanged |
| SCOTIA CAPITAL INC. 0.03% of their portfolio | 100.7k $6.6m | Reduced -4.9k |
| NewGen Asset Management Ltd 3.97% of their portfolio | 100.0k $6.5m | New |
| Caisse de depot et placement du Quebec 0.01% of their portfolio | 89.4k $5.8m | New |
| BANK OF NOVA SCOTIA 0.01% of their portfolio | 88.2k $5.8m | Reduced -2.8k |
| Thrivent Financial for Lutherans 0.01% of their portfolio | 83.9k $5.5m | Added +28.4k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 82.3k $5.4m | Reduced -94.5k |
| BARCLAYS PLC 0.00% of their portfolio | 81.4k $5.3m | Added +27.7k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 62.9k $4.2m | Added +6.1k |
| TORONTO DOMINION BANK 0.01% of their portfolio | 56.5k $3.7m | Added +39.1k |
| Atlas FRM LLC 0.24% of their portfolio | 56.0k $3.7m | New |
| CIBC WORLD MARKET INC. 0.01% of their portfolio | 54.4k $3.6m | Reduced -21.2k |
| CIBC Asset Management Inc 0.01% of their portfolio | 53.8k $3.5m | Added +1.7k |
| PRINCIPAL FINANCIAL GROUP INC 0.00% of their portfolio | 52.0k $3.4m | Added +8.8k |
| VANGUARD ASSET MANAGEMENT, Ltd 0.00% of their portfolio | 50.3k $3.3m | First filing |
| Connor, Clark & Lunn Investment Management Ltd. 0.01% of their portfolio | 49.5k $3.2m | Added +6.8k |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.01% of their portfolio | 47.8k $3.1m | Added +370 |
| NATIONAL BANK OF CANADA /FI/ 0.00% of their portfolio | 46.0k $2.9m | Reduced -10.1k |
| Impala Asset Management LLC 1.49% of their portfolio | 44.8k $2.9m | New |
| CoreCommodity Management, LLC 0.53% of their portfolio | 43.6k $2.8m | Added +7.8k |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 40.9k $2.7m | Reduced -4.0k |
| Anson Funds Management LP 0.17% of their portfolio | 40.2k $2.6m | Added +20.1k |
| Nuveen, LLC 0.00% of their portfolio | 37.9k $2.5m | Unchanged |
| Russell Investments Group, Ltd. 0.00% of their portfolio | 33.7k $2.2m | Added +8.9k |
| CITADEL ADVISORS LLC 0.00% of their portfolio | 33.6k $2.2m | Reduced -3.6k |
| Metis Global Partners, LLC 0.05% of their portfolio | 30.4k $2.0m | Reduced -2.8k |
| Maryland State Retirement & Pension System 0.04% of their portfolio | 28.7k $1.9m | Reduced -2.8k |
| Federation des caisses Desjardins du Quebec 0.01% of their portfolio | 28.3k $1.8m | Reduced -2.1k |
| Candriam S.C.A. 0.01% of their portfolio | 27.7k $1.8m | Unchanged |
| MGO ONE SEVEN LLC 0.03% of their portfolio | 25.3k $1.7m | Added +10.5k |
| MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio | 23.9k $1.6m | Reduced -114.4k |
| Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio | 23.6k $1.5m | Added +6.1k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 22.4k $1.5m | New |
| Vontobel Holding Ltd. 0.00% of their portfolio | 22.3k $1.5m | Reduced -31.4k |
| Baird Financial Group, Inc. 0.00% of their portfolio | 22.0k $1.4m | Reduced -1.9k |
| Cetera Investment Advisers 0.00% of their portfolio | 18.8k $1.2m | Reduced -1.2k |
| GUARDIAN CAPITAL LP 0.03% of their portfolio | 17.9k $1.2m | Reduced -41 |
| RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio | 17.8k $1.2m | Reduced -24.1k |
| EDMOND DE ROTHSCHILD HOLDING S.A. 0.02% of their portfolio | 17.5k $1.1m | Added +627 |
| Aquatic Capital Management LLC 0.03% of their portfolio | 16.4k $1.1m | Added +13.8k |
| LPL Financial LLC 0.00% of their portfolio | 16.0k $1.0m | Added +2.1k |
| BANK OF NOVA SCOTIA TRUST CO 0.09% of their portfolio | 15.7k $1.0m | Added +5.0k |
| Alberta Investment Management Corp 0.01% of their portfolio | 15.1k $985.6k | New |
| BRANDES INVESTMENT PARTNERS, LP 0.01% of their portfolio | 14.3k $935.3k | Added +2.4k |
| Brooklyn Investment Group 0.03% of their portfolio | 14.3k $930.9k | Added +10.6k |
| Alesco Advisors, LLC, An ESL Co 0.02% of their portfolio | 14.2k $924.3k | New |
| Aviso Financial Inc. 0.03% of their portfolio | 14.1k $917.9k | New |
| TURTLE CREEK ASSET MANAGEMENT INC. 0.03% of their portfolio | 13.8k $897.7k | Reduced -1.7k |
| Quantbot Technologies LP 0.04% of their portfolio | 13.5k $884.2k | Reduced -24.5k |
| CANADA LIFE ASSURANCE Co 0.00% of their portfolio | 13.5k $836.0k | Reduced -29 |
| Vanguard Investments Australia, Ltd. 0.00% of their portfolio | 13.5k $879.3k | First filing |
| NEUBERGER BERMAN GROUP LLC 0.00% of their portfolio | 12.1k $775.5k | Added +5.1k |
| Swiss Life Asset Management Ltd 0.00% of their portfolio | 11.6k $756.7k | Reduced -9.0k |
| CAPSTONE INVESTMENT ADVISORS, LLC 0.01% of their portfolio | 10.5k $685.5k | New |
| EJF Capital LP 0.46% of their portfolio | 10.0k $652.9k | Unchanged |
| TD Waterhouse Canada Inc. 0.00% of their portfolio | 9.9k $641.5k | Added +2.1k |
| NATIXIS 0.00% of their portfolio | 9.2k $600.1k | Added +1.3k |
| Union Bancaire Privee, UBP SA 0.01% of their portfolio | 8.5k $541.3k | Added +39 |