Manulife Financial

MFC • NYSE

Manulife Financial is a insurance - life company in the financial services sector on NYSE, led by Roy Gori, with a market cap of $59.3B. As of Q3 2025, 49% of shares are held by 681 institutional investors, with ROYAL BANK OF CANADA as the largest holder at 9.39%.

CEORoy Gori

Market Cap$59.3B

Insurance - Life

Financial Services

Employees38.0K

Websitemanulife.com

Overview

Overview of institutional ownership in MFC as of Q3 2025 with a market cap of $52.8B

All Institutions

Institutions: 681
Value Held: $25.6B
Shares Held: 821.9M
Avg Position: $37.7M
Median Position: $500.1K

Hedge Funds

Hedge Funds: 35
Value Held: $352.0M
Shares Held: 11.3M
Avg Position: $10.1M
Median Position: $2.8M

Ownership Breakdown

Institutional (non-HF)

47.92%

$25.3B

Hedge Funds

0.667%

$352.0M

Retail & Other

51.42%

$27.1B

Based on market cap of $52.8B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in MFC as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
R ROYAL BANK OF CANADA Institution	-	$5.0B 0.91% of portfolio	9.39% 159.1M shares	≤ Q2 2013 Held for 12y 5m+	$542.04B
VANGUARD GROUP INC Institution	Salim Ramji CEO	$2.4B 0.04% of portfolio	4.53% 76.7M shares	Q1 2015 Held for 10y 8m	$6.69T
BANK OF MONTREAL /CAN/ Institution	Darryl White CEO	$1.8B 0.75% of portfolio	3.36% 56.9M shares	≤ Q2 2013 Held for 12y 5m+	$235.55B
T TD ASSET MANAGEMENT INC Institution	-	$1.2B 0.95% of portfolio	2.22% 37.6M shares	≤ Q2 2013 Held for 12y 5m+	$123.47B
N NATIONAL BANK OF CANADA /FI/ Institution	-	$878.2M 0.99% of portfolio	1.66% 28.2M shares	Q4 2021 Held for 3y 11m	$88.6B
C CANERECTOR INC Institution	-	$877.9M 1.58% of portfolio	1.66% 28.2M shares	Q4 2024 Held for 11 months	$55.6B
MACKENZIE FINANCIAL CORP Long Only Manager	Joseph Luke Gregoire Gould CEO	$866.6M 1.05% of portfolio	1.64% 27.8M shares	≤ Q2 2013 Held for 12y 5m+	$82.7B
G GCIC Ltd. Institution	-	$790.2M 1.34% of portfolio	1.50% 25.4M shares	≤ Q2 2013 Held for 12y 5m+	$58.8B
TORONTO DOMINION BANK Institution	Leo Salom CEO	$606.1M 1.18% of portfolio	1.15% 19.5M shares	≤ Q2 2013 Held for 12y 5m+	$51.2B
C CIBC World Markets Inc. Institution	-	$571.9M 1.17% of portfolio	1.08% 18.4M shares	≤ Q2 2013 Held for 12y 5m+	$48.7B

Net Capital Flow

Institutional buying and selling activity for MFC in Q3 2025

Net Flow: +$235.4M
Buyers: 238
Sellers: 316
Total Bought: +$2.2B
Total Sold: −$2.0B
Avg Position: $36.2M

Biggest Buyers

Institution	Net Bought	Current Position
C CANERECTOR INC Institution	+$858.6M +27.6M shares	$877.9M 28.2M shares
BANK OF MONTREAL /CAN/ Institution	+$362.2M +11.6M shares	$1.8B 56.9M shares
MACKENZIE FINANCIAL CORP Long Only Manager	+$176.7M +5.7M shares	$866.6M 27.8M shares
Q Quadrature Capital Ltd Institution	+$130.7M +4.2M shares	$131.7M 4.2M shares
T TD ASSET MANAGEMENT INC Institution	+$64.8M +2.1M shares	$1.2B 37.6M shares
H HSBC HOLDINGS PLC Institution	+$61.6M +2.0M shares	$250.5M 8.0M shares
GEODE CAPITAL MANAGEMENT LLC ETF Provider	+$56.5M +1.8M shares	$500.8M 15.8M shares
D D. E. Shaw & Co., Inc. Institution	+$54.3M +1.7M shares	$94.6M 3.0M shares
UBS Group AG Institution	+$40.2M +1.3M shares	$113.8M 3.7M shares
DIMENSIONAL FUND ADVISORS LP Long Only Manager	+$39.6M +1.3M shares	$241.0M 7.7M shares

Biggest Sellers

Institution	Net Sold	Current Position
F FIL Ltd Institution	−$367.8M −11.8M shares	$166.5M 5.3M shares
MORGAN STANLEY RIA/Wealth	−$147.3M −4.7M shares	$319.2M 10.2M shares
R ROYAL BANK OF CANADA Institution	−$134.9M −4.3M shares	$5.0B 159.1M shares
M Mitsubishi UFJ Securities International PLC Institution	−$127.7M −4.1M shares	$71.6M 2.3M shares
GOLDMAN SACHS GROUP INC Institution	−$117.0M −3.8M shares	$211.3M 6.8M shares
Connor, Clark & Lunn Investment Management Ltd. Long Only Manager	−$83.9M −2.7M shares	$290.3M 9.3M shares
CIBC Global Asset Management Inc Long Only Manager	−$82.0M −2.6M shares	$461.0M 14.7M shares
UBS GLOBAL ASSET MANAGEMENT AMERICAS INC Long Only Manager	−$69.7M −2.2M shares	$1.9M 61.6K shares
LORD, ABBETT & CO. LLC Long Only Manager	−$64.4M −2.0M shares	Sold Off 0 shares
BANK OF AMERICA CORP /DE/ Institution	−$48.6M −1.6M shares	$187.7M 6.0M shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited MFC in Q3 2025

New Positions: 28
New Value: $70.2M
Exited Positions: 74
Exited Value: $113.5M

New Positions

Institution	Position Value
N Nearwater Capital Markets, Ltd Institution	$59.2M 1.9M shares
Voleon Capital Management LP Hedge Fund•Quant	$5.2M 166.6K shares
Arjuna Capital Private Equity	$1.7M 55.0K shares
P Point72 Asia Pte. Ltd. Institution	$657.3K 21.1K shares
Brucke Financial, Inc. RIA/Wealth	$369.8K 11.4K shares
Meeder Advisory Services, Inc. Long Only Manager	$367.4K 11.8K shares
Bayforest Capital Ltd Hedge Fund•Quant	$352.7K 11.3K shares
O Old North State Trust, LLC Institution	$311.5K 10.0K shares
JACOBSON & SCHMITT ADVISORS, LLC RIA/Wealth	$307.5K 9.9K shares
PINNACLE FINANCIAL PARTNERS INC Institution	$292.9K 9.4K shares

Exited Positions

Institution	Previous Position
LORD, ABBETT & CO. LLC Long Only Manager	$64.4M 2.0M shares
A AXA Institution	$14.6M 455.4K shares
W Waratah Capital Advisors Ltd. Hedge Fund•Multi-Strategy	$9.1M 285.3K shares
O ONTARIO TEACHERS PENSION PLAN BOARD Institution	$2.3M 72.9K shares
M M&G Plc Institution	$2.2M 69.6K shares
GLUSKIN SHEFF & ASSOC INC Long Only Manager	$2.2M 68.5K shares
Empowered Funds, LLC ETF Provider	$1.9M 60.8K shares
Prospera Financial Services RIA/Wealth	$1.5M 47.4K shares
M Madison Asset Management, LLC Long Only Manager	$1.4M 42.6K shares
Williamson Legacy Group, LLC RIA/Wealth	$1.0M 32.5K shares

Options Activity

Institutions with the largest Call and Put options positions in MFC as of Q3 2025

Call Positions: 16
Call Value: $132.1M
Put Positions: 15
Put Value: $531.6M

Call Positions

Institution	Position Value
R ROYAL BANK OF CANADA Institution	$25.3M 8.1K contracts
TORONTO DOMINION BANK Institution	$24.1M 7.7K contracts
D D. E. Shaw & Co., Inc. Institution	$19.2M 6.2K contracts
BANK OF MONTREAL /CAN/ Institution	$17.9M 5.8K contracts
S SIG North Trading, ULC Institution	$14.0M 4.5K contracts
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	$10.1M 3.3K contracts
N NOMURA HOLDINGS INC Institution	$9.0M 2.9K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$5.5M 1.8K contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$2.4M 757.0 contracts
C CREDIT AGRICOLE S A Institution	$2.3M 750.0 contracts

Put Positions

Institution	Position Value
R ROYAL BANK OF CANADA Institution	$191.4M 61.4K contracts
TORONTO DOMINION BANK Institution	$74.1M 23.8K contracts
S SIG North Trading, ULC Institution	$72.7M 23.3K contracts
D D. E. Shaw & Co., Inc. Institution	$58.8M 18.9K contracts
C CIBC World Markets Inc. Institution	$56.8M 18.3K contracts
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	$52.4M 12.1K contracts
DeepCurrents Investment Group LLC Hedge Fund•Multi-Strategy	$16.6M 53.2 contracts
BANK OF AMERICA CORP /DE/ Institution	$4.7M 1.5K contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$2.7M 853.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$1.2M 375.0 contracts

Most Committed Institutions

Institutions with MFC as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
G Galibier Capital Management Ltd. Institution	-	6.60% $19.8M	0.04% 635.3K shares	Q4 2018 Held for 6y 11m	$300.1M
H Heathbridge Capital Management Ltd. Institution	-	5.59% $14.6M	0.03% 467.6K shares	≤ Q2 2013 Held for 12y 5m+	$260.5M
Cardinal Capital Management, Inc. RIA/Wealth	Emily Anne Burt Chairman	5.51% $149.4M	0.28% 4.8M shares	Q3 2015 Held for 10y 2m	$2.7B
O OPTIMAS CAPITAL Ltd Institution	-	5.07% $8.0M	0.02% 257.5K shares	Q3 2024 Held for 1y 2m	$158.1M
Promethos Capital, LLC Private Equity	Wilfredo Igone Rodriguez CFO	4.54% $16.5M	0.03% 506.6K shares	Q4 2023 Held for 1y 11m	$364.5M
V Value Partner Investments Inc. Institution	-	3.86% $47.3M	0.09% 1.5M shares	Q3 2023 Held for 2y 2m	$1.2B
LETKO, BROSSEAU & ASSOCIATES INC Long Only Manager	Thomas Massey Birks Chairman	3.33% $193.7M	0.37% 6.2M shares	≤ Q2 2013 Held for 12y 5m+	$5.8B
S SIG North Trading, ULC Institution	-	3.23% $21.0M	0.04% 673.3K shares	Q1 2024 Held for 1y 8m	$648.8M
L LINCLUDEN MANAGEMENT LTD Institution	-	3.15% $26.8M	0.05% 861.5K shares	Q4 2021 Held for 3y 11m	$850.9M
S Scheer, Rowlett & Associates Investment Management Ltd. Institution	-	2.79% $46.9M	0.09% 1.5M shares	Q3 2021 Held for 4y 2m	$1.7B

Hedge Fund Spotlight

Discover hedge funds investing in MFC

CITADEL ADVISORS LLC

Hedge Fund • Multi-Strategy

Portfolio ManagerKenneth Cordele Griffin

Portfolio Value: $122.08B
Positions: 5,531
Last Reported: Q3 2025

Sector Allocation

Position in Manulife Financial

Market Value: $15.2M
Shares Held: 487.7K
Portfolio Weight: 0.01%
Owned Since: 2013-Q2

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