Ranked by reported Q1 2026 13F market value
Share of total reported institutional value in PBA held by the largest 10 / 25 filers.
| # | Institution | Shares Held | Market Value | QoQ Change | Ownership % | % of Fund |
|---|---|---|---|---|---|---|
| 1 | ROYAL BANK OF CANADA | 40.9M | $1.83B | -10.4% | 7.033% | 0.32% |
| 2 | BANK OF MONTREAL /CAN/ | 21.6M | $966.7M | -15.7% | 3.715% | 0.37% |
| 3 | VANGUARD CAPITAL MANAGEMENT LLC | 16.5M | $740.1M | β | 2.845% | 0.02% |
| 4 | CIBC World Markets Inc. | 12.3M | $549.6M | +12.2% | 2.113% | 0.90% |
| 5 | 1832 Asset Management L.P. | 11.7M | $524.9M | -0.4% | 2.018% | 0.69% |
| 6 | MANUFACTURERS LIFE INSURANCE COMPANY, THE | 8.9M | $399.1M | -9.2% | 1.536% | 0.34% |
| 7 | Clearbridge Investments, LLC | 8.4M | $378.0M | +416.5% | 1.453% | 0.33% |
| 8 | MACKENZIE FINANCIAL CORP | 8.3M | $370.7M | -24.1% | 1.425% | 0.44% |
| 9 | FIL Ltd | 7.8M | $348.5M | -44.3% | 1.340% | 0.27% |
| 10 | SCOTIA CAPITAL INC. | 6.7M | $299.3M | -1.9% | 1.161% | 1.23% |
| 11 | TD ASSET MANAGEMENT INC | 6.3M | $282.6M | +0.7% | 1.089% | 0.23% |
| 12 | GEODE CAPITAL MANAGEMENT, LLC | 5.9M | $267.2M | +1.5% | 1.010% | 0.02% |
| 13 | DEUTSCHE BANK AG\ | 5.7M | $256.3M | +95.9% | 0.985% | 0.08% |
| 14 | NATIONAL BANK OF CANADA /FI/ | 5.8M | $256.2M | +11.6% | 0.990% | 0.26% |
| 15 | CIBC Asset Management Inc | 5.7M | $253.1M | -34.3% | 0.975% | 0.62% |
| 16 | GOLDMAN SACHS GROUP INC | 5.2M | $230.7M | +28.6% | 0.887% | 0.03% |
| 17 | VANGUARD FIDUCIARY TRUST CO | 5.1M | $229.1M | β | 0.881% | 0.06% |
| 18 | TORONTO DOMINION BANK | 4.8M | $216.7M | -31.6% | 0.833% | 0.31% |
| 19 | Legal & General Group Plc | 4.4M | $198.0M | -0.5% | 0.764% | 0.05% |
| 20 | Vanguard Global Advisers, LLC | 4.1M | $182.7M | β | 0.702% | 0.10% |
| 21 | TORTOISE CAPITAL ADVISORS, L.L.C. | 4.0M | $177.8M | +3.4% | 0.685% | 1.85% |
| 22 | MORGAN STANLEY | 3.9M | $175.2M | -17.1% | 0.674% | 0.01% |
| 23 | BANK OF NOVA SCOTIA | 3.8M | $168.6M | -7.3% | 0.648% | 0.29% |
| 24 | Cardinal Capital Management, Inc. | 3.6M | $158.6M | +8.6% | 0.612% | 4.27% |
| 25 | Amundi | 3.4M | $151.2M | +15.1% | 0.581% | 0.04% |
denotes a marquee investor (Buffett, Burry, ARK, Tiger Global, Pershing Square, Baupost and other widely-followed managers). β% of Fundβ shows how much of that investorβs total 13F portfolio is invested in PBA β a direct measure of their conviction.
Filings activity in PBA during Q1 2026, grouped by how each filer changed its position.
Institutions that opened a new PBA position in Q1 2026
Institutions that fully closed their PBA position in Q1 2026
8 quarters of 13F filings Β· Ξ columns show change vs prior quarter
| Quarter | Inst. Holders | Ξ Holders | Ownership % | Ξ Ownership | Total 13F Value | Ξ Value |
|---|---|---|---|---|---|---|
| Q1 2026 | 419 | +8.5% | 46.29% | +2.66 pp | $13.01B | +6.1% |
| Q4 2025 | 386 | 1.5% | 43.63% | 3.22 pp | $12.26B | 6.9% |
| Q3 2025 | 392 | 2.0% | 46.85% | 11.88 pp | $13.17B | 20% |
| Q2 2025 | 400 | 2.0% | 58.73% | +11.80 pp | $16.50B | +25% |
| Q1 2025 | 408 | +6.0% | 46.93% | +4.28 pp | $13.19B | +10% |
| Q4 2024 | 385 | +0.0% | 42.65% | 4.92 pp | $11.99B | 10% |
| Q3 2024 | 385 | +1.9% | 47.57% | 105.37 pp | $13.37B | 69% |
| Q2 2024 | 378 | β | 152.94% | β | $42.98B | β |
Source: SEC 13F institutional filings. Ownership % requires market cap data and will show once linked. Ξ columns compare to the immediately prior filed quarter.
Quick answers to the most common questions about buying PBA stock.
Based on Q1 2026 13F filings, institutional ownership of Pembina Pipeline Corporation stands at 46.3%, held across 419 reporting institutions.
ROYAL BANK OF CANADA is the largest reported institutional holder of PBA, with approximately 40,879,515 shares worth $1.83B as of Q1 2026.
No marquee "smart money" managers (Berkshire, Burry, ARK, Tiger Global, Pershing Square, Baupost, etc.) currently appear among the top 25 institutional holders of PBA.
Our composite Smart Money Score for PBA is 56 out of 100 (Neutral). It combines net institutional buying activity, ownership shift, marquee investor presence, and holder-count growth.
70 institutions opened new positions in PBA during Q1 2026, while 37 fully exited. 292 added to existing positions and 54 trimmed.
PBA institutional ownership rose by 2.66 percentage points quarter-over-quarter, with a net change of +33 holders.
The top 10 institutions account for 49.3% of all reported 13F value in PBA, and the top 25 account for 73.9%.
All data is sourced from SEC Form 13F filings, which institutional investment managers with at least $100M in assets are required to file each quarter. We process every 13F filing from EDGAR and recompute the aggregates after each cycle. Insider transactions are sourced from Form 4 filings.
Pembina Pipeline Corporation (PBA) Institutional Ownership