Franco-Nevada Corporation
US ˙ NYSE ˙ CA3518581051

SecurityFNV / Franco-Nevada Corporation
InstitutionShell Asset Management Co
Latest Disclosed Ownership8,165 shares
Latest Disclosed Value $ 1,818
Shell Asset Management Co reports 55.12% decrease in ownership of FNV / Franco-Nevada Corporation

On November 7, 2025 - Shell Asset Management Co filed a 13F-HR form disclosing ownership of 8,165 shares of Franco-Nevada Corporation (US:FNV) valued at $1,820,060 USD as of September 30, 2025. The entity filed a previous 13F-HR on July 23, 2025 disclosing 18,191 shares of Franco-Nevada Corporation. This represents a change in shares of -55.12% during the quarter. The current value of the position is $1,926,777 USD.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2025-11-07 2025-09-30 13F FRANCO NEV COM 351858105 8,165 -10,026 -55.12 2 -50.00 0.1826
2025-07-23 2025-06-30 13F FRANCO NEV COM 351858105 18,191 2,268 14.24 3 0.00 0.1029
2025-05-14 2025-03-31 13F FRANCO NEV COM 351858105 15,923 -354 -2.17 3 100.00 0.1189
2025-02-14 2024-12-31 13F FRANCO NEV COM 351858105 16,277 -200 -1.21 2 -50.00 0.0835
2024-11-07 2024-09-30 13F FRANCO NEV COM 351858105 16,477 -622 -3.64 2 0.00 0.0902
2024-07-25 2024-03-31 13F FRANCO NEV COM 351858105 17,099 -5,416 -24.06 2 0.00 0.0923
2024-02-14 2023-12-31 13F FRANCO NEV COM 351858105 22,515 -4,514 -16.70 3 -33.33 0.1157
2023-11-08 2023-09-30 13F FRANCO NEV COM 351858105 27,029 -407 -1.48 4 0.00 0.1498
2023-07-28 2023-06-30 13F FRANCO NEV COM 351858105 27,436 -1,662 -5.71 4 -25.00 0.1544
2023-05-15 2023-03-31 13F FRANCO NEV COM 351858105 29,098 5,500 23.31 4 33.33 0.1759
2023-02-07 2022-12-31 13F FRANCO NEV COM 351858105 23,598 -3,477 -12.84 3 -99.91 0.1408
2022-11-14 2022-09-30 13F FRANCO NEV COM 351858105 27,075 -5,249 -16.24 3,251 -23.38 0.1267
2022-08-09 2022-06-30 13F FRANCO NEV COM 351858105 32,324 -8,391 -20.61 4,243 -34.57 0.1255
2022-05-04 2022-03-31 13F FRANCO NEV COM 351858105 40,715 -2,067 -4.83 6,485 9.45 0.1531
2022-02-09 2021-12-31 13F FRANCO NEV COM 351858105 42,782 -20,331 -32.21 5,925 -27.73 0.1216
2021-11-04 2021-09-30 13F FRANCO NEV COM 351858105 63,113 -41,810 -39.85 8,198 -46.21 0.1840
2021-08-12 2021-06-30 13F FRANCO NEV COM 351858105 104,923 -9,596 -8.38 15,242 6.22 0.2955
2021-05-10 2021-03-31 13F FRANCO NEV COM 351858105 114,519 -9,323 -7.53 14,350 -7.50 0.2871
2021-02-16 2020-12-31 13F FRANCO NEV COM 351858105 123,842 6,871 5.87 15,514 -4.79 0.3203
2020-11-13 2020-09-30 13F FRANCO NEV COM 351858105 116,971 -1,370 -1.16 16,294 -1.12 0.3788
2020-08-10 2020-06-30 13F FRANCO NEV COM 351858105 118,341 -7,600 -6.03 16,478 32.44 0.4113
2020-05-11 2020-03-31 13F FRANCO NEVADA COM 351858105 125,941 -3,556 -2.75 12,442 -7.09 0.3466
2020-02-13 2019-12-31 13F FRANCO NEVADA COM 351858105 129,497 830 0.65 13,391 14.15 0.2885
2019-11-12 2019-09-30 13F FRANCO NEVADA COM 351858105 128,667 -23,612 -15.51 11,731 -9.43 0.2679
2019-08-12 2019-06-30 13F FRANCO NEVADA COM 351858105 152,279 -7,274 -4.56 12,953 8.25 0.2866
2019-05-09 2019-03-31 13F FRANCO NEVADA COM 351858105 159,553 7,000 4.59 11,966 11.90 0.2638
2019-02-13 2018-12-31 13F FRANCO NEVADA COM 351858105 152,553 2,600 1.73 10,693 14.07 0.2665
2018-11-13 2018-09-30 13F FRANCO NEVADA COM 351858105 149,953 -2,425 -1.59 9,374 -15.66 0.1850
2018-08-10 2018-06-30 13F FRANCO NEVADA COM 351858105 152,378 -11,500 -7.02 11,115 -0.52 0.2279
2018-05-14 2018-03-31 13F FRANCO NEVADA COM 351858105 163,878 100 0.06 11,173 -14.92 0.2225
2018-02-09 2017-12-31 13F FRANCO NEVADA COM 351858105 163,778 1,300 0.80 13,132 -16.38 0.2607
2017-10-20 2017-09-30 13F/A-1 FRANCO NEVADA COM 351858105 162,478 -1,681 -1.02 15,705 2.25 0.3492
2017-10-18 2017-09-30 13F FRANCO NEVADA COM 351858105 321,425 157,266 17,669
2017-07-26 2017-06-30 13F FRANCO NEVADA COM 351858105 164,159 11,700 7.67 15,360 15.65 0.3812
2017-04-26 2017-03-31 13F FRANCO NEVADA COM 351858105 152,459 13,513 9.73 13,282 19.07 0.3390
2017-01-10 2016-12-31 13F FRANCO NEVADA COM 351858105 138,946 -78,111 -35.99 11,155 -43.93 0.3016
2016-10-28 2016-09-30 13F FRANCO NEVADA COM 351858105 217,057 -9,933 -4.38 19,895 -10.78 0.4762
2016-07-25 2016-06-30 13F FRANCO NEVADA COM 351858105 226,990 33,391 17.25 22,299 44.41 0.5173
2016-05-11 2016-03-31 13F FRANCO NEVADA COM 351858105 193,599 -1,727 -0.88 15,441 24.89 0.3698
2016-02-05 2015-12-31 13F FRANCO NEVADA COM 351858105 195,326 -126,099 -39.23 12,364 -30.02 0.2919
2015-10-13 2015-09-30 13F FRANCO NEVADA COM 351858105 321,425 92,744 40.56 17,669 29.70 0.2800
2015-07-30 2015-06-30 13F FRANCO NEVADA COM 351858105 228,681 -31,369 -12.06 13,623 -14.65 0.2726
2015-05-07 2015-03-31 13F FRANCO NEVADA COM 351858105 260,050 260,050 0.00 15,962 0.2779
2015-02-04 2014-12-31 13F FRANCO NEVADA COM 351858105 0 -321,425 -100.00 0 -100.00
2014-10-24 2014-09-30 13F FRANCO NEVADA COM 351858105 321,425 10,000 3.21 17,669 -7.37 0.2743
2014-08-08 2014-06-30 13F FRANCO NEVADA COM 351858105 311,425 13,175 4.42 19,075 25.90 0.2940
2014-05-07 2014-03-31 13F FRANCO NEVADA COM 351858105 298,250 86,400 40.78 15,151 65.21 0.2517
2014-02-03 2013-12-31 13F/A-1 FRANCO NEVADA COM 351858105 211,850 1,812 0.86 9,171 -6.56 0.1561
2014-01-27 2013-12-31 13F FRANCO NEVADA COM 351858105 211,850 9,171
2013-10-28 2013-09-30 13F FRANCO NEVADA COM 351858105 210,038 710 0.34 9,815 24.54 0.1803
2013-08-01 2013-06-30 13F FRANCO NEVADA COM 351858105 209,328 209,328 7,881 0.1500
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.