Bank of Montreal’s Pembina Pipeline PBA Stock Holding History

Bank of Montreal’s Portfolio PBA Stock Details PBA Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2026 Q1	$944M	Sell	21,078,687 -4,530,196	-18%	-$192M	0.35%	62
2025 Q4	$976M	Buy	25,608,883 +1,973,410	+8%	+$75.9M	0.34%	59
2025 Q3	$955M	Buy	23,635,473 +4,402,326	+23%	+$166M	0.37%	59
2025 Q2	$723M	Sell	19,233,147 -2,037,511	-10%	-$76.9M	0.34%	59
2025 Q1	$851M	Sell	21,270,658 -3,159,007	-13%	-$119M	0.41%	51
2024 Q4	$901M	Sell	24,429,665 -2,091,187	-8%	-$85.3M	0.42%	47
2024 Q3	$1.09B	Buy	26,520,852 +1,138,606	+4%	+$44.5M	0.48%	40
2024 Q2	$942M	Buy	25,382,246 +3,522,918	+16%	+$127M	0.27%	46
2024 Q1	$770M	Buy	21,859,328 +1,632,942	+8%	+$56.3M	0.23%	57
2023 Q4	$696M	Sell	20,226,386 -1,687,763	-8%	-$54.1M	0.21%	65
2023 Q3	$678M	Buy	21,914,149 +227,273	+1%	+$7M	0.23%	58
2023 Q2	$684M	Buy	21,686,876 +105,059	+0.5%	+$3.35M	0.24%	58
2023 Q1	$700M	Buy	21,581,817 +626,665	+3%	+$21.1M	0.28%	48
2022 Q4	$717M	Sell	20,955,152 -2,215,416	-10%	-$74.3M	0.31%	46
2022 Q3	$822K	Buy	23,170,568 +728,533	+3%	+$26M	0.35%	41
2022 Q2	$881K	Buy	22,442,035 +1,718,166	+8%	+$66.2M	0.41%	46
2022 Q1	$783M	Sell	20,723,869 -1,982,003	-9%	-$66.9M	0.38%	56
2021 Q4	$689M	Buy	22,705,872 +2,847,666	+14%	+$90.7M	0.37%	59
2021 Q3	$624M	Buy	19,858,206 +1,329,175	+7%	+$41.9M	0.29%	71
2021 Q2	$593M	Buy	18,529,031 +526,934	+3%	+$16.5M	0.3%	68
2021 Q1	$527M	Buy	18,002,097 +2,064,239	+13%	+$57.4M	0.34%	58
2020 Q4	$422M	Sell	15,937,858 -1,218,328	-7%	-$28.6M	0.28%	80
2020 Q3	$365M	Sell	17,156,186 -1,349,572	-7%	-$33.2M	0.3%	68
2020 Q2	$434M	Sell	18,505,758 -1,769,746	-9%	-$40.9M	0.4%	53
2020 Q1	$364M	Buy	20,275,504 +377,855	+2%	+$12.4M	0.42%	52
2019 Q4	$737M	Buy	19,897,649 +989,165	+5%	+$35.4M	0.55%	33
2019 Q3	$701M	Buy	18,908,484 +3,860,783	+26%	+$143M	0.61%	30
2019 Q2	$560M	Sell	15,047,701 -2,780,652	-16%	-$101M	0.47%	43
2019 Q1	$655M	Sell	17,828,353 -1,014,592	-5%	-$35.9M	0.56%	38
2018 Q4	$559M	Buy	18,842,945 +3,458,289	+22%	+$115M	0.53%	39
2018 Q3	$523M	Buy	15,384,656 +1,386,852	+10%	+$48.1M	0.41%	48
2018 Q2	$484M	Sell	13,997,804 -980,869	-7%	-$32.8M	0.4%	48
2018 Q1	$468M	Buy	14,978,673 +1,214,443	+9%	+$40.2M	0.42%	49
2017 Q4	$498M	Buy	13,764,230 +196,265	+1%	+$6.79M	0.43%	45
2017 Q3	$476M	Buy	13,567,965 +1,398,535	+11%	+$46.6M	0.44%	45
2017 Q2	$403M	Buy	12,169,430 +1,488,648	+14%	+$48.2M	0.39%	50
2017 Q1	$339M	Sell	10,680,782 -1,783,615	-14%	-$56.7M	0.32%	62
2016 Q4	$367M	Buy	12,464,397 +882,170	+8%	+$26.7M	0.39%	47
2016 Q3	$353M	Buy	11,582,227 +699,364	+6%	+$21M	0.39%	45
2016 Q2	$330M	Buy	10,882,863 +769,214	+8%	+$22.5M	0.38%	48
2016 Q1	$273M	Buy	10,113,649 +733,681	+8%	+$17.1M	0.29%	54
2015 Q4	$204M	Buy	9,379,968 +1,048,886	+13%	+$25.2M	0.24%	84
2015 Q3	$200M	Sell	8,331,082 -201,724	-2%	-$5.64M	0.28%	79
2015 Q2	$276M	Sell	8,532,806 -346,704	-4%	-$11.6M	0.32%	64
2015 Q1	$281M	Sell	8,879,510 -1,038,466	-10%	-$33.4M	0.33%	62
2014 Q4	$361M	Buy	9,917,976 +1,330,970	+15%	+$50.5M	0.41%	45
2014 Q3	$362M	Sell	8,587,006 -657,401	-7%	-$29M	0.41%	44
2014 Q2	$398M	Buy	9,244,407 +431,215	+5%	+$17.3M	0.44%	41
2014 Q1	$336M	Buy	8,813,192 +4,381,122	+99%	+$155M	0.43%	43
2013 Q4	$156M	Sell	4,432,070 -100,934	-2%	-$3.32M	0.21%	96
2013 Q3	$150M	Sell	4,533,004 -94,916	-2%	-$2.98M	0.23%	90
2013 Q2	$142M	Buy	+4,627,920	New	+$148M	0.25%	82

Other funds holding PBA

Royal Bank of Canada Toronto, Ontario, Canada $570B AUM 27.57% 1-Year Est. Return

VCM

Vanguard Capital Management Malvern, Pennsylvania $4.04T AUM

CIBC World Market Toronto, Ontario, Canada $61.3B AUM 39.33% 1-Year Est. Return

1832 Asset Management Toronto, Ontario, Canada $109B AUM 35.56% 1-Year Est. Return

Manulife (Manufacturers Life Insurance) Canada, Ontario, Canada $116B AUM 26.37% 1-Year Est. Return

ClearBridge Investments New York $115B AUM 24.78% 1-Year Est. Return

Mackenzie Financial Toronto Ontario, Ontario, Canada $83.3B AUM 31.19% 1-Year Est. Return

Fidelity International Hamilton, Bermuda $129B AUM 30.83% 1-Year Est. Return

Scotia Capital Toronto, Ontario, Canada $24.3B AUM 29.21% 1-Year Est. Return

TD Asset Management Toronto, Ontario, Canada $123B AUM 34.51% 1-Year Est. Return

Bank of Montreal's PBA Position: Q1 2026 in Review

Bank of Montreal reduced its Pembina Pipeline (PBA) stake by 18% in Q1 2026, selling an estimated $192M and leaving 21,078,687 shares worth $944M. The position accounts for 0.35% of the portfolio, ranked #62.

Bank of Montreal first reported a position in PBA in Q2 2013 and has held it in 52 quarters since. The position peaked at $1.09B in Q3 2024. 429 funds tracked by Wall St. Rank hold PBA as of Q1 2026.

Bank of Montreal held 21,078,687 shares of Pembina Pipeline worth $944M as of Q1 2026.
Bank of Montreal sold 4,530,196 Pembina Pipeline shares in Q1 2026, an estimated $192M.
Pembina Pipeline made up 0.35% of Bank of Montreal's portfolio in Q1 2026, its #62 holding.
Bank of Montreal first reported a position in Pembina Pipeline in Q2 2013 and has held it in 52 quarters since.
Bank of Montreal's Pembina Pipeline position peaked at $1.09B in Q3 2024.
429 funds tracked by Wall St. Rank held Pembina Pipeline as of Q1 2026.

Based on Bank of Montreal's 13F filing for Q1 2026, filed 13 May 2026.