Fortis

FTS • NYSE

Fortis is a regulated electric company in the utilities sector on NYSE, led by David G. Hutchens, with a market cap of $25.7B. As of Q3 2025, 50% of shares are held by 303 institutional investors, with ROYAL BANK OF CANADA as the largest holder at 7.44%.

CEODavid G. Hutchens

Market Cap$25.7B

Regulated Electric

Utilities

Employees9.6K

Websitefortisinc.com

Overview

Overview of institutional ownership in FTS as of Q3 2025 with a market cap of $25.6B

All Institutions

Institutions: 303
Value Held: $12.8B
Shares Held: 253.0M
Avg Position: $42.4M
Median Position: $1.1M

Hedge Funds

Hedge Funds: 23
Value Held: $198.1M
Shares Held: 3.9M
Avg Position: $8.6M
Median Position: $3.0M

Ownership Breakdown

Institutional (non-HF)

49.49%

$12.6B

Hedge Funds

0.775%

$198.1M

Retail & Other

49.74%

$12.7B

Based on market cap of $25.6B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in FTS as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
R ROYAL BANK OF CANADA Institution	-	$1.9B 0.35% of portfolio	7.44% 37.5M shares	Q4 2016 Held for 8y 11m	$542.04B
VANGUARD GROUP INC Institution	Salim Ramji CEO	$1.2B 0.02% of portfolio	4.69% 23.6M shares	Q4 2016 Held for 8y 11m	$6.69T
BANK OF MONTREAL /CAN/ Institution	Darryl White CEO	$1.2B 0.50% of portfolio	4.59% 23.1M shares	Q4 2016 Held for 8y 11m	$235.55B
F FIL Ltd Institution	-	$924.8M 0.72% of portfolio	3.62% 18.2M shares	Q2 2018 Held for 7y 5m	$127.75B
T TD ASSET MANAGEMENT INC Institution	-	$686.5M 0.56% of portfolio	2.69% 13.5M shares	Q1 2017 Held for 8y 8m	$123.47B
S SCOTIA CAPITAL INC. Institution	-	$461.7M 1.95% of portfolio	1.82% 9.2M shares	Q4 2016 Held for 8y 11m	$23.7B
G GCIC Ltd. Institution	-	$429.6M 0.73% of portfolio	1.68% 8.5M shares	Q4 2016 Held for 8y 11m	$58.8B
C CIBC World Markets Inc. Institution	-	$400.0M 0.82% of portfolio	1.57% 7.9M shares	Q4 2016 Held for 8y 11m	$48.7B
N NATIONAL BANK OF CANADA /FI/ Institution	-	$353.8M 0.40% of portfolio	1.39% 7.0M shares	Q4 2021 Held for 3y 11m	$88.6B
Beutel, Goodman & Co Ltd. Long Only Manager	Jackie Corneil Managing Partner	$346.1M 2.09% of portfolio	1.35% 6.8M shares	Q4 2017 Held for 7y 11m	$16.6B

Net Capital Flow

Institutional buying and selling activity for FTS in Q3 2025

Net Flow: +$221.8M
Buyers: 134
Sellers: 111
Total Bought: +$806.9M
Total Sold: −$585.2M
Avg Position: $43.2M

Biggest Buyers

Institution	Net Bought	Current Position
R ROYAL BANK OF CANADA Institution	+$335.2M +6.6M shares	$1.9B 37.5M shares
TORONTO DOMINION BANK Institution	+$68.3M +1.3M shares	$273.0M 5.4M shares
BANK OF AMERICA CORP /DE/ Institution	+$48.1M +947.1K shares	$127.3M 2.5M shares
BANK OF MONTREAL /CAN/ Institution	+$46.7M +921.0K shares	$1.2B 23.1M shares
GEODE CAPITAL MANAGEMENT LLC ETF Provider	+$42.4M +806.7K shares	$327.3M 6.2M shares
M MANUFACTURERES LIFE INSURANCE CO Institution	+$34.8M +686.7K shares	$137.2M 2.7M shares
VANGUARD GROUP INC Institution	+$28.8M +568.3K shares	$1.2B 23.6M shares
C CANADA PENSION PLAN INVESTMENT BOARD Institution	+$17.3M +340.8K shares	$136.2M 2.7M shares
S SCOTIA CAPITAL INC. Institution	+$16.4M +326.2K shares	$461.7M 9.2M shares
MORGAN STANLEY RIA/Wealth	+$13.7M +270.8K shares	$171.9M 3.4M shares

Biggest Sellers

Institution	Net Sold	Current Position
F FIL Ltd Institution	−$131.1M −2.6M shares	$924.8M 18.2M shares
MACKENZIE FINANCIAL CORP Long Only Manager	−$68.9M −1.4M shares	$162.2M 3.2M shares
C CIBC World Markets Inc. Institution	−$43.1M −849.0K shares	$400.0M 7.9M shares
BANK OF NOVA SCOTIA / Institution	−$40.1M −790.5K shares	$255.4M 5.0M shares
ARROWSTREET CAPITAL LIMITED PARTNERSHIP Hedge Fund•Quant	−$36.6M −721.7K shares	$73.2M 1.4M shares
Beutel, Goodman & Co Ltd. Long Only Manager	−$26.2M −515.4K shares	$346.1M 6.8M shares
UBS GLOBAL ASSET MANAGEMENT AMERICAS INC Long Only Manager	−$25.0M −523.7K shares	Sold Off 0 shares
Connor, Clark & Lunn Investment Management Ltd. Long Only Manager	−$22.9M −452.2K shares	$188.0M 3.7M shares
N NATIONAL BANK OF CANADA /FI/ Institution	−$22.2M −440.2K shares	$353.8M 7.0M shares
L LEGAL & GENERAL GROUP PLC Institution	−$18.3M −360.3K shares	$297.5M 5.9M shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited FTS in Q3 2025

New Positions: 9
New Value: $33.7M
Exited Positions: 21
Exited Value: $43.8M

New Positions

Institution	Position Value
N Nearwater Capital Markets, Ltd Institution	$19.6M 387.0K shares
C Coleford Investment Management Ltd. Institution	$10.5M 207.6K shares
WORLDQUANT MILLENNIUM QUANTITATIVE STRATEGIES LLC Hedge Fund•Multi-Strategy	$1.4M 27.5K shares
LAZARD ASSET MANAGEMENT LLC Long Only Manager	$1.2M 24.3K shares
B Brevan Howard Capital Management LP Institution	$579.4K 11.4K shares
SYON CAPITAL LLC RIA/Wealth	$333.5K 6.6K shares
C COUNTRY TRUST BANK Institution	$5.2K 103.0 shares
E EASTERN BANK Institution	$1.3K 25.0 shares
Stone House Investment Management, LLC RIA/Wealth	$710.0 14.0 shares

Exited Positions

Institution	Previous Position
UBS GLOBAL ASSET MANAGEMENT AMERICAS INC Long Only Manager	$25.0M 523.7K shares
TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy	$4.4M 92.6K shares
Atom Investors LP Hedge Fund•Market Neutral	$3.1M 64.5K shares
O ONTARIO TEACHERS PENSION PLAN BOARD Institution	$2.6M 55.0K shares
B BNP Paribas Investment Partners S.A. Institution	$2.1M 43.7K shares
1 111 Capital Institution	$1.5M 30.6K shares
S SIG North Trading, ULC Institution	$1.3M 27.6K shares
K K.J. Harrison & Partners Inc Institution	$1.1M 23.4K shares
AIGEN INVESTMENT MANAGEMENT, LP Hedge Fund•Long/Short	$1.1M 18.5K shares
ExodusPoint Capital Management, LP Hedge Fund•Multi-Strategy	$720.7K 15.1K shares

Options Activity

Institutions with the largest Call and Put options positions in FTS as of Q3 2025

Call Positions: 5
Call Value: $45.2M
Put Positions: 6
Put Value: $94.9M

Call Positions

Institution	Position Value
TORONTO DOMINION BANK Institution	$29.3M 5.8K contracts
S SIG North Trading, ULC Institution	$13.1M 2.6K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$2.6M 522.0 contracts
BANK OF MONTREAL /CAN/ Institution	$142.0K 28.0 contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	- - contracts

Put Positions

Institution	Position Value
R ROYAL BANK OF CANADA Institution	$76.1M 15.0K contracts
TORONTO DOMINION BANK Institution	$8.3M 1.6K contracts
S SIG North Trading, ULC Institution	$8.2M 1.6K contracts
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	$1.8M 250.0 contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$289.2K 57.0 contracts
BANK OF MONTREAL /CAN/ Institution	$238.3K 47.0 contracts

Most Committed Institutions

Institutions with FTS as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Q QV Investors Inc. Institution	-	4.58% $49.2M	0.19% 969.7K shares	Q2 2017 Held for 8y 5m	$1.1B
H Heronetta Management, L.P. Hedge Fund•Sector	Henry Reynolds Breck Managing Partner	3.25% $6.1M	0.02% 86.0K shares	Q4 2016 Held for 8y 11m	$187.0M
T TORON CAPITAL MARKETS INC. Long Only Manager	Henry Perren Chairman	2.81% $48.9M	0.19% 963.1K shares	Q4 2016 Held for 8y 11m	$1.7B
C Coleford Investment Management Ltd. Institution	-	2.53% $10.5M	0.04% 207.6K shares	Q3 2025 Held for 2 months	$416.4M
C CALEDONIA INVESTMENTS PLC Institution	-	2.26% $23.0M	0.09% 456.7K shares	Q1 2022 Held for 3y 8m	$1.0B
Beutel, Goodman & Co Ltd. Long Only Manager	Jackie Corneil Managing Partner	2.09% $346.1M	1.35% 6.8M shares	Q4 2017 Held for 7y 11m	$16.6B
D DAVIS-REA LTD. Institution	-	2.00% $8.3M	0.03% 162.6K shares	Q4 2016 Held for 8y 11m	$412.2M
S SCOTIA CAPITAL INC. Institution	-	1.95% $461.7M	1.82% 9.2M shares	Q4 2016 Held for 8y 11m	$23.7B
E Ewing Morris & Co. Investment Partners Ltd. Institution	-	1.90% $3.3M	0.01% 64.3K shares	Q4 2024 Held for 11 months	$171.6M
B BANK OF NOVA SCOTIA TRUST CO Institution	-	1.87% $20.2M	0.08% 397.7K shares	Q4 2016 Held for 8y 11m	$1.1B