Ranked by reported Q2 2026 13F market value
Share of total reported institutional value in TRP held by the largest 10 / 25 filers.
| # | Institution | Shares Held | Market Value | QoQ Change | Ownership % | % of Fund |
|---|---|---|---|---|---|---|
| 1 | ROYAL BANK OF CANADA | 82.3M | $5.46B | -10.9% | 7.906% | 0.81% |
| 2 | Capital Research Global Investors | 43.5M | $2.88B | -2.9% | 4.181% | 0.40% |
| 3 | BANK OF MONTREAL /CAN/ | 37.6M | $2.49B | -31.2% | 3.614% | 0.82% |
| 4 | VANGUARD CAPITAL MANAGEMENT LLC | 29.9M | $1.98B | +1.5% | 2.876% | 0.04% |
| 5 | FIL Ltd | 27.9M | $1.85B | +3.3% | 2.679% | 1.33% |
| 6 | GOLDMAN SACHS GROUP INC | 21.2M | $1.40B | +31.7% | 2.034% | 0.12% |
| 7 | 1832 Asset Management L.P. | 20.5M | $1.36B | -7.0% | 1.969% | 0.68% |
| 8 | CANADA PENSION PLAN INVESTMENT BOARD | 17.4M | $1.15B | -0.9% | 1.667% | 0.64% |
| 9 | MACKENZIE FINANCIAL CORP | 12.2M | $1.15B | -4.5% | 1.171% | 1.15% |
| 10 | GQG Partners LLC | 16.7M | $1.11B | -1.2% | 1.608% | 2.06% |
| 11 | TD ASSET MANAGEMENT INC | 16.1M | $1.07B | -25.6% | 1.550% | 0.93% |
| 12 | CIBC WORLD MARKET INC. | 16.1M | $1.06B | +3.8% | 1.545% | 1.71% |
| 13 | DEUTSCHE BANK AG\ | 15.8M | $1.05B | +1.3% | 1.520% | 0.30% |
| 14 | Connor, Clark & Lunn Investment Management Ltd. | 14.8M | $978.0M | +13.2% | 1.420% | 1.85% |
| 15 | GEODE CAPITAL MANAGEMENT, LLC | 11.8M | $802.3M | +13.5% | 1.134% | 0.04% |
| 16 | TD Waterhouse Canada Inc. | 10.6M | $695.8M | +3.0% | 1.020% | 1.83% |
| 17 | NORGES BANK | 10.4M | $691.0M | — | 1.003% | 0.07% |
| 18 | NATIONAL BANK OF CANADA /FI/ | 10.1M | $661.4M | -2.7% | 0.966% | 0.47% |
| 19 | Clearbridge Investments, LLC | 9.4M | $625.0M | +5.4% | 0.906% | 0.52% |
| 20 | VANGUARD FIDUCIARY TRUST CO | 9.2M | $611.3M | +1.1% | 0.887% | 0.13% |
| 21 | JPMORGAN CHASE & CO | 8.6M | $592.2M | +10.2% | 0.831% | 0.03% |
| 22 | SCOTIA CAPITAL INC. | 8.9M | $591.5M | -3.3% | 0.859% | 2.21% |
| 23 | CIBC Asset Management Inc | 8.8M | $584.1M | -5.2% | 0.847% | 1.28% |
| 24 | Vanguard Global Advisers, LLC | 8.0M | $529.1M | +9.5% | 0.768% | 0.25% |
| 25 | Legal & General Group Plc | 7.8M | $519.6M | -9.2% | 0.754% | 0.11% |
denotes a marquee investor (Buffett, Burry, ARK, Tiger Global, Pershing Square, Baupost and other widely-followed managers). “% of Fund” shows how much of that investor’s total 13F portfolio is invested in TRP — a direct measure of their conviction.
Filings activity in TRP during Q2 2026, grouped by how each filer changed its position.
Institutions that opened a new TRP position in Q2 2026
Institutions that fully closed their TRP position in Q2 2026
8 quarters of 13F filings · Δ columns show change vs prior quarter
| Quarter | Inst. Holders | Δ Holders | Ownership % | Δ Ownership | Total 13F Value | Δ Value |
|---|---|---|---|---|---|---|
| Q2 2026 | 694 | +2.8% | 66.65% | 3.63 pp | $45.72B | +1.4% |
| Q1 2026 | 675 | +8.2% | 70.28% | 2.24 pp | $45.10B | +10% |
| Q4 2025 | 624 | +6.8% | 72.52% | 6.48 pp | $40.85B | 6.7% |
| Q3 2025 | 584 | 0.3% | 79.00% | +2.30 pp | $43.80B | +15% |
| Q2 2025 | 586 | 0.7% | 76.70% | +2.42 pp | $37.93B | +1.2% |
| Q1 2025 | 590 | +1.4% | 74.28% | 1.88 pp | $37.47B | +6.2% |
| Q4 2024 | 582 | +7.0% | 76.16% | +0.73 pp | $35.28B | 0.0% |
| Q3 2024 | 544 | — | 75.43% | — | $35.30B | — |
Source: SEC 13F institutional filings. Ownership % requires market cap data and will show once linked. Δ columns compare to the immediately prior filed quarter.
Quick answers to the most common questions about buying TRP stock.
Based on Q2 2026 13F filings, institutional ownership of TC Energy Corporation stands at 66.6%, held across 694 reporting institutions.
ROYAL BANK OF CANADA is the largest reported institutional holder of TRP, with approximately 82,305,345 shares worth $5.46B as of Q2 2026.
No marquee "smart money" managers (Berkshire, Burry, ARK, Tiger Global, Pershing Square, Baupost, etc.) currently appear among the top 25 institutional holders of TRP.
Our composite Smart Money Score for TRP is 30 out of 100 (Bearish). It combines net institutional buying activity, ownership shift, marquee investor presence, and holder-count growth.
68 institutions opened new positions in TRP during Q2 2026, while 48 fully exited. 482 added to existing positions and 127 trimmed.
TRP institutional ownership fell by 3.63 percentage points quarter-over-quarter, with a net change of +19 holders.
The top 10 institutions account for 45.5% of all reported 13F value in TRP, and the top 25 account for 69.7%.
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.
TC Energy Corporation (TRP) Institutional Ownership