TransAlta

TAC • NYSE

TransAlta is a independent power producers company in the utilities sector on NYSE, led by John Kousinioris, with a market cap of $4.2B. As of Q3 2025, 76% of shares are held by 162 institutional investors, with ROYAL BANK OF CANADA as the largest holder at 11.71%.

CEOJohn Kousinioris

Market Cap$4.2B

Independent Power Producers

Utilities

Employees1.3K

Websitetransalta.com

Overview

Overview of institutional ownership in TAC as of Q3 2025 with a market cap of $4.1B

All Institutions

Institutions: 162
Value Held: $3.1B
Shares Held: 225.6M
Avg Position: $19.0M
Median Position: $1.2M

Hedge Funds

Hedge Funds: 39
Value Held: $774.4M
Shares Held: 56.6M
Avg Position: $19.9M
Median Position: $2.7M

Ownership Breakdown

Institutional (non-HF)

57.0%

$2.3B

Hedge Funds

19.11%

$774.4M

Retail & Other

23.89%

$968.0M

Based on market cap of $4.1B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in TAC as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
R ROYAL BANK OF CANADA Institution	-	$474.7M 0.09% of portfolio	11.71% 34.7M shares	≤ Q2 2013 Held for 12y 5m+	$542.04B
B BROOKFIELD ASSET MANAGEMENT INC. RIA/Wealth	Jon Michael Pearlman Member	$367.9M 0.43% of portfolio	9.09% 26.9M shares	Q4 2014 Held for 10y 11m	$85.8B
FMR LLC Institution	-	$309.0M 0.02% of portfolio	7.63% 22.6M shares	Q1 2021 Held for 4y 8m	$1.92T
R Rubric Capital Management LP Hedge Fund•Long/Short	Margaret Kossakowski CFO	$218.0M 3.14% of portfolio	5.38% 15.9M shares	Q1 2021 Held for 4y 8m	$6.9B
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	Dan Michael Berkovitz Chairman	$179.2M 0.15% of portfolio	4.42% 13.1M shares	Q4 2018 Held for 6y 11m	$121.98B
VANGUARD GROUP INC Institution	Salim Ramji CEO	$149.6M 0.00% of portfolio	3.69% 10.9M shares	Q1 2015 Held for 10y 8m	$6.69T
BANK OF MONTREAL /CAN/ Institution	Darryl White CEO	$142.4M 0.06% of portfolio	3.52% 10.4M shares	≤ Q2 2013 Held for 12y 5m+	$235.55B
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$110.6M 0.01% of portfolio	2.73% 8.1M shares	≤ Q2 2013 Held for 12y 5m+	$1.65T
BANK OF AMERICA CORP /DE/ Institution	Brian T. Moynihan CEO	$98.9M 0.01% of portfolio	2.44% 7.2M shares	≤ Q2 2013 Held for 12y 5m+	$1.33T
GOLDMAN SACHS GROUP INC Institution	David M. Solomon CEO	$91.8M 0.01% of portfolio	2.27% 6.7M shares	≤ Q2 2013 Held for 12y 5m+	$691.34B

Net Capital Flow

Institutional buying and selling activity for TAC in Q3 2025

Net Flow: −$52.2M
Buyers: 66
Sellers: 83
Total Bought: +$227.5M
Total Sold: −$279.7M
Avg Position: $17.3M

Biggest Buyers

Institution	Net Bought	Current Position
FMR LLC Institution	+$77.9M +5.7M shares	$309.0M 22.6M shares
R Rokos Capital Management LLP Hedge Fund•Global Macro	+$27.2M +2.0M shares	$37.7M 2.8M shares
B BNP PARIBAS ARBITRAGE, SA Institution	+$20.5M +1.5M shares	$20.5M 1.5M shares
UBS Group AG Institution	+$19.7M +1.4M shares	$57.5M 4.2M shares
BANK OF MONTREAL /CAN/ Institution	+$18.7M +1.4M shares	$142.4M 10.4M shares
M Man Group plc Institution	+$11.0M +807.2K shares	$11.0M 807.2K shares
TORONTO DOMINION BANK Institution	+$6.0M +439.0K shares	$37.9M 2.8M shares
OAKTREE CAPITAL MANAGEMENT LP Hedge Fund•Multi-Strategy	+$4.5M +330.0K shares	$87.6M 6.4M shares
VANGUARD GROUP INC Institution	+$3.4M +248.0K shares	$149.6M 10.9M shares
ALLIANCEBERNSTEIN L.P. Long Only Manager	+$3.2M +235.0K shares	$4.0M 291.4K shares

Biggest Sellers

Institution	Net Sold	Current Position
GOLDMAN SACHS GROUP INC Institution	−$70.4M −5.2M shares	$91.8M 6.7M shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	−$69.8M −5.1M shares	$179.2M 13.1M shares
C CIBC World Markets Inc. Institution	−$15.6M −1.1M shares	$20.3M 1.5M shares
R ROYAL BANK OF CANADA Institution	−$13.6M −993.5K shares	$474.7M 34.7M shares
MORGAN STANLEY RIA/Wealth	−$10.4M −757.8K shares	$110.6M 8.1M shares
CenterBook Partners LP Hedge Fund•Market Neutral	−$9.6M −700.1K shares	$1.0M 75.4K shares
MACKENZIE FINANCIAL CORP Long Only Manager	−$7.4M −542.4K shares	$60.9M 4.5M shares
T TD ASSET MANAGEMENT INC Institution	−$5.3M −389.1K shares	$12.0M 877.7K shares
A Allianz Asset Management AG Institution	−$5.2M −381.1K shares	$181.5K 13.3K shares
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	−$4.9M −357.4K shares	$14.1M 1.0M shares

Entry and Exit Activity

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

New Positions: 9
New Value: $48.5M
Exited Positions: 28
Exited Value: $17.9M

New Positions

Institution	Position Value
A AustralianSuper Pty Ltd Institution	$36.4M 2.7M shares
Jain Global LLC Hedge Fund•Multi-Strategy	$8.5M 619.0K shares
Blackstone Group L.P. Institution	$2.2M 162.3K shares
D DRW Securities, LLC Institution	$889.7K 46.8K shares
IMC-Chicago, LLC RIA/Wealth	$269.4K 19.7K shares
Cetera Investment Advisers RIA/Wealth	$214.0K 15.7K shares
Q Quarry LP Institution	$20.3K 1.5K shares
I Itau Unibanco Holding S.A. Institution	$16.8K 1.2K shares
Larson Financial Group LLC RIA/Wealth	$3.5K 254.0 shares

Exited Positions

Institution	Previous Position
M MOORE CAPITAL MANAGEMENT, LP Hedge Fund•Global Macro	$2.8M 303.0K shares
UBS GLOBAL ASSET MANAGEMENT AMERICAS INC Long Only Manager	$2.5M 229.8K shares
WELLINGTON MANAGEMENT CO LLP Long Only Manager	$2.4M 225.2K shares
O'SHAUGHNESSY ASSET MANAGEMENT, LLC Long Only Manager	$2.4M 222.2K shares
G Greenland Capital Management LP Hedge Fund•Multi-Strategy	$1.9M 181.1K shares
Y Y-Intercept Ltd Institution	$1.0M 96.3K shares
ExodusPoint Capital Management, LP Hedge Fund•Multi-Strategy	$837.3K 77.6K shares
T Timelo Investment Management Inc. Institution	$647.4K 60.0K shares
S SIMPLEX TRADING, LLC Institution	$553.8K 51.3K shares
Polar Securities Inc. Hedge Fund•Multi-Strategy	$539.1K 50.0K shares

Options Activity

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

Call Positions: 18
Call Value: $40.1M
Put Positions: 6
Put Value: $10.2M

Call Positions

Institution	Position Value
Arvin Capital Management LP Hedge Fund•Long/Short	$9.0M 6.6K contracts
S SIG North Trading, ULC Institution	$7.3M 5.3K contracts
UBS Group AG Institution	$6.8M 5.0K contracts
A AYAL Capital Advisors Ltd Institution	$2.7M 2.0K contracts
C CIBC World Markets Inc. Institution	$2.7M 2.0K contracts
TORONTO DOMINION BANK Institution	$1.9M 1.4K contracts
P PEAK6 LLC Institution	$1.6M 1.2K contracts
W Waratah Capital Advisors Ltd. Hedge Fund•Multi-Strategy	$1.4M 1.0K contracts
MARINER INVESTMENT GROUP LLC Hedge Fund•Multi-Strategy	$1.4M 1.0K contracts
B Brevan Howard Capital Management LP Institution	$1.4M 1.0K contracts

Put Positions

Institution	Position Value
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	$5.5M 4.0K contracts
S SIG North Trading, ULC Institution	$3.7M 2.7K contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$429.2K 314.0 contracts
TORONTO DOMINION BANK Institution	$266.3K 195.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$239.2K 175.0 contracts
R ROYAL BANK OF CANADA Institution	$136.7K 100.0 contracts

Most Committed Institutions

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

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
P potrero capital research llc Hedge Fund•Long/Short	Jack R Ripsteen Managing Partner	10.41% $34.4M	0.85% 2.5M shares	Q3 2024 Held for 1y 2m	$330.9M
Arvin Capital Management LP Hedge Fund•Long/Short	Rohan Arvin Varavadekar CIO	9.83% $42.5M	1.05% 3.1M shares	Q1 2025 Held for 8 months	$432.0M
Clayton Partners LLC Hedge Fund•Long/Short	Alex Gates CCO	7.19% $9.5M	0.23% 693.6K shares	Q1 2023 Held for 2y 8m	$131.9M
WESTERLY CAPITAL MANAGEMENT, LLC Hedge Fund•Long/Short	Christopher James Galvin Managing Partner	3.90% $12.3M	0.30% 900.0K shares	Q2 2025 Held for 5 months	$315.2M
R Rubric Capital Management LP Hedge Fund•Long/Short	Margaret Kossakowski CFO	3.14% $218.0M	5.38% 15.9M shares	Q1 2021 Held for 4y 8m	$6.9B
A AYAL Capital Advisors Ltd Institution	-	2.02% $3.5M	0.09% 256.2K shares	Q3 2025 Held for 2 months	$173.4M
OAKTREE CAPITAL MANAGEMENT LP Hedge Fund•Multi-Strategy	Armen Ryan Panossian CEO	1.85% $87.6M	2.16% 6.4M shares	Q1 2025 Held for 8 months	$4.7B
A Aventail Capital Group, LP Hedge Fund•Long/Short	John (Nmn) Lee COO	1.84% $38.6M	0.95% 2.8M shares	Q3 2025 Held for 2 months	$2.1B
Tacita Capital Inc Private Equity	Edward Joseph Keefe CFO	1.82% $3.0M	0.07% 219.3K shares	Q4 2020 Held for 4y 11m	$165.2M
H Heronetta Management, L.P. Hedge Fund•Sector	Henry Reynolds Breck Managing Partner	1.24% $2.3M	0.04% 122.0K shares	Q4 2023 Held for 1y 11m	$187.0M

Hedge Fund Spotlight

Discover hedge funds investing in TAC

Bridgewater Associates, LP

Hedge Fund • Global Macro

Portfolio ManagerNir Bar Dea

Portfolio Value: $25.5B
Positions: 1,015
Last Reported: Q3 2025

Sector Allocation

Position in TransAlta

Market Value: $1.2M
Shares Held: 91.3K
Portfolio Weight: 0.00%
Owned Since: 2024-Q4

Top Holding	Sector	Market Value	Weight
1 iShares Core S&P 500 ETF IVV	ETF ETF	$2.7B	10.62%
2 SPDR S&P 500 ETF Trust SPY	ETF ETF	$1.7B	6.69%
3 Alphabet Inc. GOOGL	Internet Content & Information Communication Services	$645.2M	2.53%