Ranked by reported Q1 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 | 92.3M | $5.78B | -6.8% | 8.869% | 1.01% |
| 2 | BANK OF MONTREAL /CAN/ | 54.7M | $3.43B | +9.4% | 5.253% | 1.30% |
| 3 | Capital Research Global Investors | 44.8M | $2.81B | +39.4% | 4.307% | 0.44% |
| 4 | VANGUARD CAPITAL MANAGEMENT LLC | 29.5M | $1.85B | — | 2.833% | 0.05% |
| 5 | FIL Ltd | 27.0M | $1.69B | -4.6% | 2.594% | 1.31% |
| 6 | 1832 Asset Management L.P. | 22.0M | $1.38B | -10.1% | 2.117% | 1.83% |
| 7 | TD ASSET MANAGEMENT INC | 21.7M | $1.35B | +3.9% | 2.082% | 1.10% |
| 8 | CANADA PENSION PLAN INVESTMENT BOARD | 17.5M | $1.10B | -3.6% | 1.683% | 0.71% |
| 9 | GQG Partners LLC | 16.9M | $1.06B | +4.9% | 1.628% | 1.68% |
| 10 | GOLDMAN SACHS GROUP INC | 16.1M | $1.01B | +21.7% | 1.544% | 0.12% |
| 11 | DEUTSCHE BANK AG\ | 15.6M | $978.1M | +1.6% | 1.501% | 0.32% |
| 12 | CIBC World Markets Inc. | 15.5M | $969.6M | -34.9% | 1.487% | 1.58% |
| 13 | TORONTO DOMINION BANK | 15.4M | $966.0M | -17.2% | 1.481% | 1.39% |
| 14 | Connor, Clark & Lunn Investment Management Ltd. | 13.1M | $816.3M | +35.2% | 1.254% | 1.88% |
| 15 | MACKENZIE FINANCIAL CORP | 12.8M | $799.8M | -4.8% | 1.227% | 0.96% |
| 16 | GEODE CAPITAL MANAGEMENT, LLC | 10.4M | $663.4M | +3.8% | 0.999% | 0.04% |
| 17 | NATIONAL BANK OF CANADA /FI/ | 10.3M | $641.0M | -7.6% | 0.993% | 0.66% |
| 18 | TD Waterhouse Canada Inc. | 10.3M | $635.2M | +114.5% | 0.990% | 1.88% |
| 19 | CIBC Asset Management Inc | 9.3M | $581.7M | +4.0% | 0.893% | 1.42% |
| 20 | SCOTIA CAPITAL INC. | 9.2M | $573.6M | -0.7% | 0.888% | 2.36% |
| 21 | VANGUARD FIDUCIARY TRUST CO | 9.1M | $571.8M | — | 0.877% | 0.15% |
| 22 | Clearbridge Investments, LLC | 8.9M | $560.0M | +1.8% | 0.859% | 0.49% |
| 23 | DODGE & COX | 8.9M | $556.7M | -4.3% | 0.854% | 0.31% |
| 24 | MORGAN STANLEY | 8.6M | $540.0M | +71.0% | 0.829% | 0.03% |
| 25 | Legal & General Group Plc | 8.6M | $539.6M | -5.2% | 0.830% | 0.12% |
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 Q1 2026, grouped by how each filer changed its position.
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 |
|---|---|---|---|---|---|---|
| Q1 2026 | 665 | +6.9% | 61.68% | +5.28 pp | $44.56B | +9.3% |
| Q4 2025 | 622 | +7.1% | 56.40% | 3.77 pp | $40.75B | 6.3% |
| Q3 2025 | 581 | 0.9% | 60.17% | +7.67 pp | $43.48B | +15% |
| Q2 2025 | 586 | 0.7% | 52.50% | +0.64 pp | $37.93B | +1.2% |
| Q1 2025 | 590 | +1.4% | 51.86% | +3.03 pp | $37.47B | +6.2% |
| Q4 2024 | 582 | +7.0% | 48.83% | 0.03 pp | $35.28B | 0.0% |
| Q3 2024 | 544 | +7.1% | 48.86% | 76.60 pp | $35.30B | 61% |
| Q2 2024 | 508 | — | 125.46% | — | $90.65B | — |
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 Q1 2026 13F filings, institutional ownership of TC Energy Corporation stands at 61.7%, held across 665 reporting institutions.
ROYAL BANK OF CANADA is the largest reported institutional holder of TRP, with approximately 92,342,983 shares worth $5.78B 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 TRP.
Our composite Smart Money Score for TRP is 55 out of 100 (Neutral). It combines net institutional buying activity, ownership shift, marquee investor presence, and holder-count growth.
96 institutions opened new positions in TRP during Q1 2026, while 53 fully exited. 480 added to existing positions and 84 trimmed.
TRP institutional ownership rose by 5.28 percentage points quarter-over-quarter, with a net change of +43 holders.
The top 10 institutions account for 48.1% of all reported 13F value in TRP, and the top 25 account for 71.5%.
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