Franco Nevada (FNV): which funds own it
A 13F shows the portfolio at quarter-end and is filed up to 45 days later: these are not real-time positions and they may have changed.
Sections with a free account
12 concentrated managers hold it (+1 vs last quarter) with a median weight of 2.9%.
Who owns Franco Nevada?
Holders reporting more than 5% of the shares to the SEC (Schedules 13D/13G): FMR, 11.2% (13G/A filed May 6, 2026) and BlackRock, 6.2% (13G/A filed Oct 27, 2026). As of Jun 30, 2026, the largest holders reported on Form 13F were FMR (11.2% of the shares), Massachusetts Financial Services (5.7%) and VAN ECK Associates (3.6%).
Which institutions hold the most Franco Nevada shares?
Per Form 13F filings as of Jun 30, 2026, as a share of all shares outstanding:
- 1. FMR: 11.2%
- 2. Massachusetts Financial Services: 5.7%
- 3. VAN ECK Associates: 3.6%
- 4. FIL: 3.5%
- 5. Vanguard Capital Management: 2.9%
- 6. Bank of Montreal: 2.8%
- 7. First Eagle Investment Management: 2.7%
- 8. Royal Bank of Canada: 2.3%
- 9. Capital World Investors: 2.2%
- 10. EdgePoint Investment Group: 1.6%
How much of Franco Nevada do institutions own?
The 664 institutions that file 13F reported 71.6% of the shares as of Jun 30, 2026 (not counting 4 positions with implausible figures).
Sources:13G/A by FMR (May 6, 2026) ↗13G/A by BlackRock (Oct 27, 2026) ↗All of the company's proxy statements on EDGAR ↗
13F percentages divide the shares each institution reports by the shares outstanding on the cover of the company's latest report before the quarter end (Dec 31, 2025). Entities of the same group file separately and are not added up. We hold 13D and 13G filings made since Dec 23, 2024: a holder above 5% that has not filed since then does not appear here.
Franco Nevada revenue
Franco Nevada reported annual revenue of $1.82 billion for fiscal year 2025 (year ended December 31, 2025), according to its Form 40-F filed with the SEC (XBRL data).
Well-known investors holding it
Quarter flow (concentrated managers)
Change in managers (11 → 12): 2 opened · 1 exited = +1
Net flow in the quarter: −$21.4M (−103 K shares) · bought $60.8M and sold $82.2MShares concentrated managers added minus those they cut, valued at the 13F quarter-end implied price, not each trade's price. It is a different measure from the change in managers: the two can have opposite signs.
The set of concentrated managers changed between quarters: with the set as it was then, 12 held it last quarter (the chart point); with today's set, 11 (the base for the change).
Concentrated managers holding it
- EdgePoint Investment GroupReduced$659M5.0%−0.5 pp
- Scharf InvestmentsReduced$98.5M3.3%−0.5 pp
- Euro Pacific Asset Management$53.7M6.1%
- St. James Investment$45.0M7.1%
- Navera Investment ManagementNew$40.7M1.1%+1.0 pp
- Scheer, Rowlett & Associates Investment ManagementIncreased$35.8M2.6%+0.2 pp
- America First Investment Advisors$23.7M4.4%
- Carmignac GestionNew$17.5M0.2%+0.2 pp
- Hutner Capital ManagementIncreased$10.1M4.0%+0.1 pp
- MAD River InvestorsReduced$4.7M1.8%−0.1 pp
- Cortland Associates$823K0.1%
- Nexus Investment Management ULC$52.1K0.0%
Up to 15, sorted by position value. The percentage is the weight in each manager's portfolio.
Other relevant holders
Filers with $100M or more in the stock that do not count as concentrated managers because of their type: they are left out of the counts, the consensus and the accumulation.
- Norges BankPension or sovereign fund$581M0.1%
- Canada Pension Plan Investment BoardPension or sovereign fund$255M0.1%
- Swiss National BankPension or sovereign fund$130M0.1%
Largest holders of FNV (all 13F filers)
- FMR21.6 MInvestment firm+52 K
- Massachusetts Financial Services11.0 MInvestment firm−47 K
- VAN ECK Associates7.0 MInvestment firm−534 K
- FIL6.8 MInvestment firm+919 K
- Vanguard Capital Management5.6 MIndex manager+71 K
- Bank of Montreal5.4 MBank or trading desk+253 K
- First Eagle Investment Management5.3 MInvestment firm−1,220
- Royal Bank of Canada4.4 MBank or trading desk+1.4 M
- Capital World Investors4.3 MInvestment firm−641 K
- EdgePoint Investment Groupconcentrated3.2 MInvestment firm−302 K
- Shares
- 21.6 M
- Change
- +52 K
See more
- Type
- Investment firm
- Value
- $4.5 bn
- Shares
- 11.0 M
- Change
- −47 K
See more
- Type
- Investment firm
- Value
- $2.4 bn
- Shares
- 7.0 M
- Change
- −534 K
See more
- Type
- Investment firm
- Value
- $1.5 bn
- Shares
- 6.8 M
- Change
- +919 K
See more
- Type
- Investment firm
- Value
- $1.4 bn
- Shares
- 5.6 M
- Change
- +71 K
See more
- Type
- Index manager
- Value
- $1.2 bn
- Shares
- 5.4 M
- Change
- +253 K
See more
- Type
- Bank or trading desk
- Value
- $1.1 bn
- Shares
- 5.3 M
- Change
- −1,220
See more
- Type
- Investment firm
- Value
- $1.1 bn
- Shares
- 4.4 M
- Change
- +1.4 M
See more
- Type
- Bank or trading desk
- Value
- $909M
- Shares
- 4.3 M
- Change
- −641 K
See more
- Type
- Investment firm
- Value
- $903M
- EdgePoint Investment Groupconcentrated
- Shares
- 3.2 M
- Change
- −302 K
See more
- Type
- Investment firm
- Value
- $659M
The 10 13F filers with the most shares as of Jun 30, 2026, whatever their type (index firms usually come first). “Change”: shares added or cut versus the previous quarter, split-adjusted; “no data” = there is no comparable portfolio for the previous quarter (no filing, or a filing with its holdings under confidential treatment). “% of the company” only where shares outstanding are up to date. Entities of the same group file separately and some 13F filings include other managers: there may be double counting. With a free account: the top 25, the largest buyers and the largest sellers.
Held by institutions (13F)
Institutions (13F): 71.6% of the shares · top 10: 38.7% · in index firms: 9.4% of the institutional total
Q2 2026: 71.6%
Shares reported by the 664 13F filers as of Jun 30, 2026 (not counting 4 positions with implausible figures), divided by the shares outstanding on the cover of the company's latest report (Dec 31, 2025). It is not all institutional ownership: only managers above $100M file a 13F, and it excludes short positions. Entities of the same group file separately and some 13F filings include other managers: there may be double counting. We only publish it where the figure is credible: not for ADRs, companies with more than one share class or stale shares-outstanding data.
Fundamentals
Fiscal 2025 figures (annual report on Form 40-F, IFRS accounting standards) · balance sheet as of Dec 31, 2025.
- Operating margin
- 74.3%
- Net margin
- 61.0%
- ROE
- 14.6%
- Revenue (TTM)
- $1.8 bn
- Revenue growth
- 63.7%
- Net income (TTM)
- $1.1 bn
- Net debt / EBITDA
- —
- Free cash flow (TTM)
- $1.5 bn
- Quality vs sector
- —
Figures come from the latest annual report: we do not compare them with its sector's, which are 12-month figures to the latest quarter. Debt includes leases: under IFRS 16 they are all on the balance sheet and their cost sits outside EBITDA.
Figures from the statements the company filed with the SEC (40-F). Free cash flow = operating cash flow − capital expenditures; empty if the company does not report capex. “Quality vs sector”: 0 to 100, the average of its percentiles in ROE, operating margin, free-cash-flow margin, revenue and earnings growth and net debt / EBITDA (at least 3 needed) against companies in its sector above $300M. How each figure is calculated
Shares outstanding: buybacks and dilution
2025: 193.0 M
- 1 year
- +0.2%
- 3 years
- +0.6%
- 5 years
- +1.2%
- Buybacks (FY 2025)
- no data
- Share issuance
- no data
- Stock-based compensation
- $6.3M0.3% of revenue
- Dividends paid
- $275M
From the statements the company filed with the SEC (10-K). The change compares average diluted shares of each fiscal year, on today's basis: negative = it bought back more than it issued; positive = dilution. “No data” = the company does not report that item under a tag we can read; it does not mean zero.
Earnings quality and debt
- Operating cash flow ÷ net income (12 months)
- 1.34
- Debt due within 12 months
- no data
From the figures the company filed with the SEC. Cash flow over net income near or above 1 means earnings are collected in cash; far below, that part is accounting. Coverage says how many times operating income pays the latest fiscal year's interest. Maturities come from the debt note of the latest annual report, counted from its closing date. “No data” never means zero.
Insiders (Form 4)
Open-market purchases, excluding 10b5-1 plans. Officers and directors only; joint filers of the same purchase count as one. 10% owners with no role are shown separately. 0 = nobody bought; “no data” = we do not have its Form 4 filings.
Each of the company's Form 4 filings, on EDGAR ↗Latest trades, with date and filing →
Above 5% (13D/13G)
Disclosed stakes, with their amendments. A filing is not always a purchase: there are also reductions and changes of filing entity.
This list may be incomplete: we hold 13D and 13G filings made since Dec 23, 2024. A holder above 5% that has not filed anything since then is not shown here.
Above 5% over time (13D/13G)
Each holder with its filings in order. History since December 2024.
This company filed no 8-K forms in the last year. Foreign companies listed in the US (ADRs) report material events on forms 6-K and 20-F, and ETFs and funds do not file 8-Ks. If it is a foreign company listed in the US through ADRs (American Depositary Receipts), what trades are bank-issued certificates that represent shares from its home market. See its filings on EDGAR ↗
Other Materials stocks in managers' portfolios
Same sector and a similar number of concentrated managers holding them. It is a list to keep exploring, not a recommendation.
- Carpenter TechnologyCRS · 12 managers
- MosaicMOS · 12 managers
- AmrizeAMRZ · 12 managers
- Cleveland-cliffsCLF · 13 managers
- DPC HoldingsDPC · 13 managers
- James Hardie IndustriesJHX · 11 managers