Pembina Pipeline
401 hedge funds and large institutions have $13B invested in Pembina Pipeline in 2025 Q3 according to their latest regulatory filings, with 33 funds opening new positions, 155 increasing their positions, 133 reducing their positions, and 34 closing their positions.
17% more repeat investments, than reductions
Existing positions increased: 155 | Existing positions reduced: 133
2% more capital invested
Capital invested by funds: $12.8B → $13B (+$205M)
3% less first-time investments, than exits
New positions opened: 33 | Existing positions closed: 34
1% less funds holding
Funds holding: 406 → 401 (-5)
3.34% less ownership
Funds ownership: 58.75% → 55.4% (-3.3%)
10% less funds holding in top 10
Funds holding in top 10: 10 → 9 (-1)
57% less call options, than puts
Call options by funds: $147M | Put options by funds: $339M
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
JFL
Jarislowsky, Fraser Ltd
Montreal,
Quebec, Canada
|
+$316M |
| 2 |
Manulife (Manufacturers Life Insurance)
Canada,
Ontario, Canada
|
+$172M |
| 3 |
Bank of Montreal
Toronto,
Ontario, Canada
|
+$166M |
| 4 |
Canada Pension Plan Investment Board
Toronto Ontario,
Ontario, Canada
|
+$147M |
| 5 |
Janus Henderson Group
London,
United Kingdom
|
+$97.6M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Goldman Sachs
New York
|
-$269M |
| 2 |
Deutsche Bank
Frankfurt Am Main Ge,
Germany
|
-$149M |
| 3 |
Fidelity International
Hamilton,
Bermuda
|
-$130M |
| 4 |
National Bank of Canada
Montreal,
Quebec, Canada
|
-$108M |
| 5 |
Healthcare of Ontario Pension Plan (HOOPP) Trust Fund
Toronto,
Ontario, Canada
|
-$105M |
PBA Hedge Fund Activity: Q3 2025 in Review
401 of the 7,619 institutional investors tracked by Wall St. Rank reported a position in Pembina Pipeline (PBA) for Q3 2025, worth a combined $13B — up 1.6% from $12.8B a quarter earlier.
Sellers outnumbered buyers: 34 funds closed out of PBA and 33 opened new positions — a net loss of 1 holder — while 133 trimmed existing stakes and 155 added.
The largest buyer was Jarislowsky, Fraser Ltd, adding an estimated $316M. The largest seller was Goldman Sachs, cutting an estimated $269M.
- 401 institutional investors held Pembina Pipeline (PBA) as of Q3 2025, down from 406 in Q2 2025.
- Funds reported $13B of Pembina Pipeline stock for Q3 2025, up 1.6% quarter-over-quarter.
- 33 funds opened new Pembina Pipeline positions in Q3 2025 and 34 closed out, a net change of -1 holder.
- The largest Pembina Pipeline buyer in Q3 2025 was Jarislowsky, Fraser Ltd, an estimated $316M added.
- The largest Pembina Pipeline seller in Q3 2025 was Goldman Sachs, an estimated $269M sold.
Based on aggregated 13F filings for Q3 2025.