TC Energy
TRP • NYSE
TC Energy is a oil & gas midstream company in the energy sector on NYSE, led by Francois Lionel Poirier, with a market cap of $56.6B. As of Q3 2025, 78% of shares are held by 580 institutional investors, with ROYAL BANK OF CANADA as the largest holder at 12.31%.
CEOFrancois Lionel Poirier
Overview
Overview of institutional ownership in TRP as of Q3 2025 with a market cap of $56.6B
All Institutions
- Institutions
- 580
- Value Held
- $44.0B
- Shares Held
- 808.2M
- Avg Position
- $75.9M
- Median Position
- $848.6K
Hedge Funds
- Hedge Funds
- 32
- Value Held
- $354.1M
- Shares Held
- 6.5M
- Avg Position
- $11.1M
- Median Position
- $4.5M
Ownership Breakdown
Based on market cap of $56.6B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.
Biggest Investors
Institutions with the largest positions in TRP as of Q3 2025
| Institution | Position Value |
|---|---|
R ROYAL BANK OF CANADA Institution | $7.0B 1.28% of portfolio |
 GOLDMAN SACHS GROUP INC Institution | $3.5B 0.51% of portfolio |
 VANGUARD GROUP INC Institution | $2.5B 0.04% of portfolio |
 Capital Research Global Investors RIA/Wealth | $2.3B 0.43% of portfolio |
 BANK OF MONTREAL /CAN/ Institution | $2.1B 0.94% of portfolio |
C Capital International Investors Institution | $1.6B 0.26% of portfolio |
F FIL Ltd Institution | $1.5B 1.16% of portfolio |
C CANADA PENSION PLAN INVESTMENT BOARD Institution | $1.2B 0.82% of portfolio |
T TD ASSET MANAGEMENT INC Institution | $1.1B 0.86% of portfolio |
C CIBC World Markets Inc. Institution | $1.1B 2.17% of portfolio |
Net Capital Flow
Institutional buying and selling activity for TRP in Q3 2025
- Traded
- +$2.3B
- Buyers
- 268
- Sellers
- 257
- Total Bought
- +$4.6B
- Total Sold
- −$2.2B
- Avg Position
- $68.6M
Biggest Buyers
| Institution | Net Bought |
|---|---|
GOLDMAN SACHS GROUP INC Institution | +$2.2B +39.6M shares |
 Clearbridge Investments, LLC Long Only Manager | +$394.0M +7.2M shares |
A AMERICAN CENTURY COMPANIES INC Institution | +$295.5M +5.4M shares |
M Murchinson Ltd. Institution | +$220.4M +4.1M shares |
M MANUFACTURERES LIFE INSURANCE CO Institution | +$163.7M +3.0M shares |
 DEUTSCHE BANK AG\ Institution | +$158.7M +2.9M shares |
 GQG Partners LLC Long Only Manager | +$128.0M +2.4M shares |
N NICOLA WEALTH MANAGEMENT LTD. RIA/Wealth | +$111.2M +2.0M shares |
C Covalis Capital LLP Institution | +$84.0M +1.5M shares |
H | +$83.2M +1.5M shares |
Biggest Sellers
| Institution | Net Sold |
|---|---|
BANK OF MONTREAL /CAN/ Institution | −$341.7M −6.3M shares |
 BANK OF NOVA SCOTIA / Institution | −$296.9M −5.5M shares |
C Capital International Investors Institution | −$181.2M −3.3M shares |
C CIBC World Markets Inc. Institution | −$119.2M −2.2M shares |
 Blackstone Group L.P. Institution | −$84.6M −1.6M shares |
 TORONTO DOMINION BANK Institution | −$64.4M −1.2M shares |
 CAISSE DE DEPOT ET PLACEMENT DU QUEBEC Fund of Funds | −$63.7M −1.2M shares |
C Capital World Investors Institution | −$63.2M −1.2M shares |
 BANK OF AMERICA CORP /DE/ Institution | −$46.2M −848.6K shares |
 TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy | −$43.9M −807.1K shares |
Entry and Exit Activity
Institutions that initiated new positions or completely exited TRP in Q3 2025
- New Positions
- 26
- New Value
- $141.9M
- Exited Positions
- 61
- Exited Value
- $177.0M
New Positions
| Institution | Position Value |
|---|---|
GQG Partners LLC Long Only Manager | $128.0M 2.4M shares |
G Guinness Asset Management LTD Institution | $5.9M 110.3K shares |
 BURNEY CO/ RIA/Wealth | $2.1M 38.9K shares |
S Sageworth Trust Co Institution | $1.4M 25.1K shares |
S Sciencast Management LP Hedge Fund•Quant | $837.8K 15.4K shares |
B Brevan Howard Capital Management LP Institution | $702.1K 12.9K shares |
G Guinness Atkinson Asset Management Inc Institution | $273.6K 5.1K shares |
 WORLDQUANT MILLENNIUM QUANTITATIVE STRATEGIES LLC Hedge Fund•Multi-Strategy | $253.3K 4.7K shares |
J J.W. COLE ADVISORS, INC. Institution | $243.5K 4.5K shares |
 Forum Financial Management, LP RIA/Wealth | $241.5K 4.4K shares |
Exited Positions
| Institution | Previous Position |
|---|---|
 JENNISON ASSOCIATES LLC Long Only Manager | $37.4M 765.7K shares |
 Jain Global LLC Hedge Fund•Multi-Strategy | $30.6M 626.1K shares |
 BALYASNY ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy | $26.9M 551.9K shares |
A AXA Institution | $14.6M 299.0K shares |
W Waratah Capital Advisors Ltd. Hedge Fund•Multi-Strategy | $12.7M 260.6K shares |
Q Quadrature Capital Ltd Institution | $10.3M 211.2K shares |
 Point72 Asset Management, L.P. Hedge Fund•Multi-Strategy | $6.1M 125.5K shares |
T Triasima Portfolio Management inc. Long Only Manager | $5.1M 104.5K shares |
P PINNBROOK CAPITAL MANAGEMENT LP Hedge Fund•Global Macro | $3.5M 70.9K shares |
S SG Americas Securities, LLC Institution | $2.9M 59.5K shares |
Options Activity
Institutions with the largest Call and Put options positions in TRP as of Q3 2025
- Call Positions
- 16
- Call Value
- $121.0M
- Put Positions
- 16
- Put Value
- $600.3M
Call Positions
| Institution | Position Value |
|---|---|
R ROYAL BANK OF CANADA Institution | $32.5M 6.0K contracts |
S SIG North Trading, ULC Institution | $22.4M 4.1K contracts |
J JANE STREET GROUP, LLC Institution | $19.5M 3.6K contracts |
 CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy | $15.8M 2.9K contracts |
BANK OF MONTREAL /CAN/ Institution | $9.8M 1.8K contracts |
 SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity | $6.3M 1.2K contracts |
D D. E. Shaw & Co., Inc. Institution | $5.4M 1.0K contracts |
 CAPITAL FUND MANAGEMENT S.A. Hedge Fund•Quant Macro | $5.4M 998.0 contracts |
 Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy | $1.6M 286.0 contracts |
 Walleye Trading LLC RIA/Wealth | $783.5K 144.0 contracts |
Put Positions
| Institution | Position Value |
|---|---|
R ROYAL BANK OF CANADA Institution | $240.9M 44.3K contracts |
S SIG North Trading, ULC Institution | $181.8M 33.4K contracts |
TORONTO DOMINION BANK Institution | $73.7M 13.6K contracts |
D D. E. Shaw & Co., Inc. Institution | $45.7M 8.4K contracts |
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy | $16.3M 3.0K contracts |
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity | $13.4M 2.5K contracts |
C CIBC World Markets Inc. Institution | $9.8M 1.8K contracts |
BANK OF MONTREAL /CAN/ Institution | $6.8M 1.3K contracts |
J JANE STREET GROUP, LLC Institution | $3.1M 565.0 contracts |
CAPITAL FUND MANAGEMENT S.A. Hedge Fund•Quant Macro | $2.7M 492.0 contracts |
Most Committed Institutions
Institutions with TRP as the highest % of their portfolio as of Q3 2025
| Institution | Portfolio Weight |
|---|---|
M Murchinson Ltd. Institution | 44.85% $220.4M |
C Covalis Capital LLP Institution | 13.00% $111.4M |
N NICOLA WEALTH MANAGEMENT LTD. RIA/Wealth | 11.20% $125.2M |
H Heathbridge Capital Management Ltd. Institution | 8.41% $21.9M |
M MUFG SECURITIES , LTD. Institution | 7.05% $253.9M |
C Candelo Capital Management LP Hedge Fund•Long/Short | 6.53% $7.3M |
 KAYNE ANDERSON CAPITAL ADVISORS LP Private Equity | 6.48% $291.7M |
 TORTOISE CAPITAL ADVISORS, L.L.C. Real Assets | 6.42% $497.9M |
H Heronetta Management, L.P. Hedge Fund•Sector | 5.42% $10.1M |
L LINCLUDEN MANAGEMENT LTD Institution | 5.28% $44.9M |
Hedge Fund Spotlight
Discover hedge funds investing in TRP
ARP AMERICAS LLC
Hedge Fund • Multi-Strategy
Portfolio ManagerLudger (Nmn) Hentschel
- Portfolio Value
- $544.4M
- Positions
- 607
- Last Reported
- Q3 2025
Sector Allocation
Position in TC Energy
- Market Value
- $400.3K
- Shares Held
- 7.4K
- Portfolio Weight
- 0.07%
- Owned Since
- 2025-Q1
| Top Holding | Sector | Market Value | Weight |
|---|---|---|---|
Biotechnology Healthcare | $18.7M | 3.44% | |
Restaurants Consumer Cyclical | $18.0M | 3.31% | |
Business Equipment & Supplies Industrials | $15.5M | 2.84% |
