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TC Energy

605 hedge funds and large institutions have $38.3B invested in TC Energy in 2025 Q1 according to their latest regulatory filings, with 71 funds opening new positions, 213 increasing their positions, 215 reducing their positions, and 54 closing their positions.

New
Increased
Maintained
Reduced
Closed

31% more first-time investments, than exits

New positions opened: 71 | Existing positions closed: 54

10% more capital invested

Capital invested by funds: $34.7B → $38.3B (+$3.58B)

2.91% more ownership

Funds ownership: 71.49%74.39% (+2.9%)

1% more funds holding

Funds holding: 598605 (+7)

1% less repeat investments, than reductions

Existing positions increased: 213 | Existing positions reduced: 215

4% less funds holding in top 10

Funds holding in top 10: 2726 (-1)

54% less call options, than puts

Call options by funds: $181M | Put options by funds: $389M

Holders
605
Holders Change
+7
Holders Change %
+1.17%
% of All Funds
8.11%
Holding in Top 10
26
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-3.7%
% of All Funds
0.35%
New
71
Increased
213
Reduced
215
Closed
54
Calls
$181M
Puts
$389M
Net Calls
-$209M
Net Calls Change
+$2.11B
Name Holding Trade Value Shares
Change
Change in
Stake
Royal Bank of Canada
1
Royal Bank of Canada
Ontario, Canada
$4.31B -$62M -1,329,910 -1%
Bank of Montreal
2
Bank of Montreal
Ontario, Canada
$2.67B +$583M +12,507,246 +28%
Capital Research Global Investors
3
Capital Research Global Investors
California
$2.18B -$198M -4,239,189 -8%
Vanguard Group
4
Vanguard Group
Pennsylvania
$2.1B +$33.1M +710,837 +2%
TIM
5
Thornburg Investment Management
New Mexico
$1.82B
Capital International Investors
6
Capital International Investors
California
$1.73B -$153M -3,273,090 -8%
Fidelity International
7
Fidelity International
Bermuda
$1.26B -$79.7M -1,709,483 -6%
Toronto Dominion Bank
8
Toronto Dominion Bank
Ontario, Canada
$1.26B +$495M +10,610,418 +66%
CIBC World Market
9
CIBC World Market
Ontario, Canada
$1.14B +$110M +2,361,005 +11%
Healthcare of Ontario Pension Plan (HOOPP) Trust Fund
10
Healthcare of Ontario Pension Plan (HOOPP) Trust Fund
Ontario, Canada
$1.12B +$936M +20,084,982 +550%
Canada Pension Plan Investment Board
11
Canada Pension Plan Investment Board
Ontario, Canada
$936M +$236M +5,053,228 +34%
TD Asset Management
12
TD Asset Management
Ontario, Canada
$824M +$47.5M +1,018,590 +6%
Bank of Nova Scotia
13
Bank of Nova Scotia
Ontario, Canada
$802M +$353M +7,562,887 +80%
Goldman Sachs
14
Goldman Sachs
New York
$770M -$1.14B -24,455,664 -60%
1832 Asset Management
15
1832 Asset Management
Ontario, Canada
$674M -$4.43M -95,041 -0.7%
Mackenzie Financial
16
Mackenzie Financial
Ontario, Canada
$625M +$44.1M +945,708 +8%
JFL
17
Jarislowsky, Fraser Ltd
Quebec, Canada
$543M -$13.9M -297,060 -3%
Dodge & Cox
18
Dodge & Cox
California
$495M -$21.8M -466,600 -4%
National Bank of Canada
19
National Bank of Canada
Quebec, Canada
$484M -$13.8M -295,387 -3%
JP Morgan Chase
20
JP Morgan Chase
New York
$471M +$33.5M +718,959 +8%
CIBC Asset Management
21
CIBC Asset Management
Ontario, Canada
$457M +$118M +2,530,311 +36%
Connor, Clark & Lunn Investment Management (CC&L)
22
Connor, Clark & Lunn Investment Management (CC&L)
British Columbia, Canada
$445M +$105M +2,242,918 +31%
Legal & General Group
23
Legal & General Group
United Kingdom
$434M +$5.44M +116,737 +1%
Norges Bank
24
Norges Bank
Norway
$431M -$3.68M -78,884 -0.9%
TCA
25
Tortoise Capital Advisors
Kansas
$409M +$18.3M +393,258 +5%

TRP Hedge Fund Activity: Q1 2025 in Review

605 of the 7,457 institutional investors tracked by Wall St. Rank reported a position in TC Energy (TRP) for Q1 2025, worth a combined $38.3B — up 10% from $34.7B a quarter earlier.

Buyers outnumbered sellers: 71 funds opened new TRP positions and 54 closed out — a net gain of 17 holders — while 213 added to existing stakes and 215 trimmed.

The largest buyer was Healthcare of Ontario Pension Plan (HOOPP) Trust Fund, adding an estimated $936M. The largest seller was Goldman Sachs, cutting an estimated $1.14B.

  • 605 institutional investors held TC Energy (TRP) as of Q1 2025, up from 598 in Q4 2024.
  • Funds reported $38.3B of TC Energy stock for Q1 2025, up 10% quarter-over-quarter.
  • 71 funds opened new TC Energy positions in Q1 2025 and 54 closed out, a net change of +17 holders.
  • The largest TC Energy buyer in Q1 2025 was Healthcare of Ontario Pension Plan (HOOPP) Trust Fund, an estimated $936M added.
  • The largest TC Energy seller in Q1 2025 was Goldman Sachs, an estimated $1.14B sold.

Based on aggregated 13F filings for Q1 2025.