Franco-Nevada
523 hedge funds and large institutions have $21.9B invested in Franco-Nevada in 2025 Q1 according to their latest regulatory filings, with 87 funds opening new positions, 186 increasing their positions, 159 reducing their positions, and 45 closing their positions.
93% more first-time investments, than exits
New positions opened: 87 | Existing positions closed: 45
35% more funds holding in top 10
Funds holding in top 10: 17 → 23 (+6)
35% more capital invested
Capital invested by funds: $16.2B → $21.9B (+$5.72B)
17% more repeat investments, than reductions
Existing positions increased: 186 | Existing positions reduced: 159
8% more funds holding
Funds holding: 484 → 523 (+39)
0.63% more ownership
Funds ownership: 71.74% → 72.36% (+0.63%)
6% less call options, than puts
Call options by funds: $214M | Put options by funds: $228M
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Fidelity Investments
Boston,
Massachusetts
|
+$315M |
| 2 |
Arrowstreet Capital
Boston,
Massachusetts
|
+$170M |
| 3 |
Connor, Clark & Lunn Investment Management (CC&L)
Vancouver,
British Columbia, Canada
|
+$159M |
| 4 |
Citadel Advisors
Miami,
Florida
|
+$98.8M |
| 5 |
Goldman Sachs
New York
|
+$70.1M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
EIG
EdgePoint Investment Group
Toronto,
Ontario, Canada
|
-$177M |
| 2 |
Victory Capital Management
San Antonio,
Texas
|
-$124M |
| 3 |
VanEck Associates
New York
|
-$117M |
| 4 |
T. Rowe Price Associates
Baltimore,
Maryland
|
-$107M |
| 5 |
BGC
Beutel, Goodman & Co
Toronto,
Ontario, Canada
|
-$79.6M |
FNV Hedge Fund Activity: Q1 2025 in Review
523 of the 7,458 institutional investors tracked by Wall St. Rank reported a position in Franco-Nevada (FNV) for Q1 2025, worth a combined $21.9B — up 35% from $16.2B a quarter earlier.
Buyers outnumbered sellers: 87 funds opened new FNV positions and 45 closed out — a net gain of 42 holders — while 186 added to existing stakes and 159 trimmed.
The largest buyer was Fidelity Investments, adding an estimated $315M. The largest seller was EdgePoint Investment Group, cutting an estimated $177M.
- 523 institutional investors held Franco-Nevada (FNV) as of Q1 2025, up from 484 in Q4 2024.
- Funds reported $21.9B of Franco-Nevada stock for Q1 2025, up 35% quarter-over-quarter.
- 87 funds opened new Franco-Nevada positions in Q1 2025 and 45 closed out, a net change of +42 holders.
- The largest Franco-Nevada buyer in Q1 2025 was Fidelity Investments, an estimated $315M added.
- The largest Franco-Nevada seller in Q1 2025 was EdgePoint Investment Group, an estimated $177M sold.
Based on aggregated 13F filings for Q1 2025.