EMERA INC EMA
COM · Common Stock · CUSIP 290876101
Publicly traded Canadian multinational energy holding company based in Halifax, Nova Scotia
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($298.2m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $46.54. Options: 5 managers hold calls ($58.7m notional), 5 hold puts ($27.5m).
Trends to Q2 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 2 |
| Q4 2022 | 2 |
| Q1 2023 | 2 |
| Q2 2023 | 2 |
| Q3 2023 | 2 |
| Q4 2023 | 2 |
| Q1 2024 | 3 |
| Q2 2024 | 5 |
| Q3 2024 | 3 |
| Q4 2024 | 3 |
| Q1 2025 | 5 |
| Q2 2025 | 134 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2023 | 1 | 0 |
| Q4 2023 | 1 | 0 |
| Q1 2024 | 1 | 1 |
| Q2 2024 | 2 | 1 |
| Q3 2024 | 0 | 4 |
| Q4 2024 | 0 | 1 |
| Q1 2025 | 2 | 1 |
| Q2 2025 | 129 | 3 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2024 | $0 | $0 | — |
| Q4 2024 | $0 | $0 | — |
| Q1 2025 | $0 | $0 | — |
| Q2 2025 | $58.7m | $27.5m | 0.47 |
Biggest buyers
| ROYAL BANK OF CANADA | New | +42.0m |
| BANK OF MONTREAL /CAN/ | New | +16.5m |
| FIL Ltd | New | +12.9m |
| VANGUARD GROUP INC | New | +12.6m |
| CIBC WORLD MARKET INC. | New | +10.8m |
| TD Asset Management Inc | New | +7.8m |
| ClearBridge Investments Ltd | New | +6.9m |
| GOLDMAN SACHS GROUP INC | New | +5.4m |
| MACKENZIE FINANCIAL CORP | New | +5.2m |
| BANK OF NOVA SCOTIA | New | +4.6m |
Biggest sellers
| Cardinal Capital Management, Inc. | Sold out | -223.6k |
| Coston, McIsaac & Partners | Reduced | -500 |
| Sky Investment Group LLC | Reduced | -445 |
Biggest calls
| TORONTO DOMINION BANK | New | $35.8m781.7k shares |
| SIG North Trading, ULC | New | $14.1m308.2k shares |
| NATIONAL BANK OF CANADA /FI/ | New | $5.3m1.2k shares |
| D. E. Shaw & Co., Inc. | New | $3.4m75.0k shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | New | $00 shares |
Biggest puts
| SIG North Trading, ULC | New | $17.4m380.1k shares |
| D. E. Shaw & Co., Inc. | New | $6.9m150.0k shares |
| TORONTO DOMINION BANK | New | $2.7m59.4k shares |
| NATIONAL BANK OF CANADA /FI/ | New | $499.1k109 shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | New | $00 shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| BlackRock, Inc. 13G · institution +1.1 pts · filed 2026-10-27 | 8.0% |
| BANK OF MONTREAL /CAN/ 13G · institution new · filed 2025-08-06 | 5.3% |
Insider purchases and sales in Q2 2025
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
None reported in Q2 2025.
Holders, Q2 2025
| Manager | Shares | Change |
|---|---|---|
| ROYAL BANK OF CANADA 0.19% of their portfolio | 42.0m $1.9bn | New |
| BANK OF MONTREAL /CAN/ 0.38% of their portfolio | 16.5m $758.0m | New |
| FIL Ltd 0.51% of their portfolio | 12.9m $592.8m | New |
| VANGUARD GROUP INC 0.01% of their portfolio | 12.6m $579.0m | New |
| CIBC WORLD MARKET INC. 1.10% of their portfolio | 10.8m $497.2m | New |
| TD Asset Management Inc 0.30% of their portfolio | 7.8m $354.7m | New |
| ClearBridge Investments Ltd 9.29% of their portfolio | 6.9m $423.9m | New |
| GOLDMAN SACHS GROUP INC 0.04% of their portfolio | 5.4m $247.5m | New |
| MACKENZIE FINANCIAL CORP 0.31% of their portfolio | 5.2m $236.3m | New |
| BANK OF NOVA SCOTIA 0.43% of their portfolio | 4.6m $209.2m | New |
| SCOTIA CAPITAL INC. 0.97% of their portfolio | 4.5m $206.2m | New |
| NATIONAL BANK OF CANADA /FI/ 0.20% of their portfolio | 4.0m $182.8m | New |
| Legal & General Group Plc 0.04% of their portfolio | 3.6m $164.4m | New |
| GEODE CAPITAL MANAGEMENT, LLC 0.01% of their portfolio | 3.2m $152.1m | New |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.09% of their portfolio | 2.9m $133.4m | New |
| TORONTO DOMINION BANK 0.25% of their portfolio | 2.5m $114.6m | New |
| CIBC Asset Management Inc 0.28% of their portfolio | 2.0m $90.2m | New |
| TD Waterhouse Canada Inc. 0.64% of their portfolio | 1.9m $88.9m | New |
| CANADA PENSION PLAN INVESTMENT BOARD 0.07% of their portfolio | 1.8m $82.5m | New |
| INTACT INVESTMENT MANAGEMENT INC. 2.61% of their portfolio | 1.7m $77.1m | New |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 1.3m $58.3m | New |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 1.3m $57.9m | New |
| QV Investors Inc. 4.30% of their portfolio | 959.3k $43.9m | New |
| Hillsdale Investment Management Inc. 1.60% of their portfolio | 946.5k $43.4m | New |
| MORGAN STANLEY 0.00% of their portfolio | 930.7k $42.6m | New |
| Connor, Clark & Lunn Investment Management Ltd. 0.15% of their portfolio | 930.4k $42.6m | New |
| Swiss National Bank 0.02% of their portfolio | 904.8k $41.3m | New |
| FIRST TRUST ADVISORS LP 0.03% of their portfolio | 877.4k $40.2m | New |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio | 815.0k $37.3m | New |
| Federation des caisses Desjardins du Quebec 0.16% of their portfolio | 776.0k $35.4m | New |
| FRANKLIN RESOURCES INC 0.01% of their portfolio | 729.4k $33.4m | New |
| Invesco Ltd. 0.01% of their portfolio | 702.8k $32.2m | New |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.03% of their portfolio | 689.6k $31.4m | New |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.01% of their portfolio | 506.1k $23.2m | New |
| MUFG SECURITIES (CANADA), LTD. 0.70% of their portfolio | 504.8k $23.1m | New |
| Addenda Capital Inc. 1.07% of their portfolio | 477.2k $29.8m | New |
| Northwest & Ethical Investments L.P. 0.49% of their portfolio | 434.4k $19.9m | New |
| UBS Group AG 0.00% of their portfolio | 406.6k $18.6m | New |
| Bank of New York Mellon Corp 0.00% of their portfolio | 355.3k $16.3m | New |
| DEUTSCHE BANK AG\ 0.01% of their portfolio | 301.1k $13.8m | New |
| Beutel, Goodman & Co Ltd. 0.08% of their portfolio | 299.3k $13.7m | New |
| Aviso Financial Inc. 0.53% of their portfolio | 257.6k $11.8m | New |
| Harvest Portfolios Group Inc. 0.27% of their portfolio | 253.7k $11.6m | New |
| GABELLI FUNDS LLC 0.08% of their portfolio | 249.7k $11.4m | New |
| Nuveen, LLC 0.00% of their portfolio | 207.8k $9.5m | New |
| APG Asset Management N.V. 0.02% of their portfolio | 180.5k $7.0m | New |
| Guardian Partners Inc. 0.73% of their portfolio | 178.0k $8.1m | New |
| MACQUARIE GROUP LTD 0.01% of their portfolio | 172.0k $10.7m | New |
| VAN LANSCHOT KEMPEN INVESTMENT MANAGEMENT N.V. 0.10% of their portfolio | 171.3k $10.7m | New |
| State of Tennessee, Department of Treasury 0.03% of their portfolio | 169.5k $7.7m | New |
| Alberta Investment Management Corp 0.06% of their portfolio | 169.2k $7.8m | New |
| BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 0.04% of their portfolio | 161.3k $7.4m | New |
| AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio | 161.1k $7.4m | New |
| Korea Investment CORP 0.02% of their portfolio | 152.6k $7.0m | New |
| HSBC HOLDINGS PLC 0.00% of their portfolio | 152.5k $7.0m | New |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 133.6k $6.1m | New |
| D. E. Shaw & Co., Inc. 0.01% of their portfolio | 127.1k $5.8m | New |
| PRINCIPAL FINANCIAL GROUP INC 0.00% of their portfolio | 125.6k $5.7m | New |
| Pictet Asset Management Holding SA 0.01% of their portfolio | 119.9k $5.5m | New |
| NEUBERGER BERMAN GROUP LLC 0.00% of their portfolio | 116.9k $5.3m | New |
| VAN ECK ASSOCIATES CORP 0.01% of their portfolio | 101.8k $4.7m | New |
| ONTARIO TEACHERS PENSION PLAN BOARD 0.09% of their portfolio | 98.1k $4.5m | New |
| CANADA LIFE ASSURANCE Co 0.01% of their portfolio | 90.1k $4.1m | New |
| BARCLAYS PLC 0.00% of their portfolio | 88.8k $4.1m | New |
| Russell Investments Group, Ltd. 0.00% of their portfolio | 85.0k $3.9m | New |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.01% of their portfolio | 81.4k $3.7m | New |
| Zurcher Kantonalbank (Zurich Cantonalbank) 0.01% of their portfolio | 77.2k $3.5m | New |
| CITIGROUP INC 0.00% of their portfolio | 76.3k $3.5m | New |
| Heronetta Management, L.P. 2.31% of their portfolio | 66.5k $4.1m | New |
| BANK OF NOVA SCOTIA TRUST CO 0.30% of their portfolio | 66.2k $3.0m | New |
| Rathbones Group PLC 0.01% of their portfolio | 58.7k $2.7m | New |
| Tacita Capital Inc 1.68% of their portfolio | 57.1k $2.6m | New |
| Sky Investment Group LLC 0.44% of their portfolio | 54.5k $2.5m | Reduced -445 |
| Jain Global LLC 0.04% of their portfolio | 49.5k $2.3m | New |
| Fiera Capital Corp 0.01% of their portfolio | 46.0k $2.1m | New |
| NORTHERN TRUST CORP 0.00% of their portfolio | 45.4k $2.1m | New |
| O'SHAUGHNESSY ASSET MANAGEMENT, LLC 0.01% of their portfolio | 43.2k $2.0m | New |
| Qube Research & Technologies Ltd 0.00% of their portfolio | 40.3k $1.8m | New |
| Balyasny Asset Management L.P. 0.00% of their portfolio | 39.7k $1.8m | New |
| DekaBank Deutsche Girozentrale 0.00% of their portfolio | 37.1k $1.7m | New |
| PICTON MAHONEY ASSET MANAGEMENT 0.02% of their portfolio | 37.0k $1.7m | New |
| SUSQUEHANNA ADVISORS GROUP, INC. 0.06% of their portfolio | 35.6k $1.6m | New |
| TWO SIGMA ADVISERS, LP 0.00% of their portfolio | 33.6k $1.5m | New |
| Utah Retirement Systems 0.02% of their portfolio | 32.8k $1.5m | New |
| USS Investment Management Ltd 0.01% of their portfolio | 30.9k $1.4m | New |
| Versor Investments LP 0.23% of their portfolio | 28.9k $1.3m | New |
| Public Sector Pension Investment Board 0.01% of their portfolio | 28.6k $1.3m | New |
| FMR LLC 0.00% of their portfolio | 25.9k $1.2m | New |
| A. D. Beadell Investment Counsel, Inc. 0.84% of their portfolio | 24.1k $1.1m | New |
| INTECH INVESTMENT MANAGEMENT LLC 0.01% of their portfolio | 23.8k $1.1m | New |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 22.9k $1.0m | New |
| CIDEL ASSET MANAGEMENT INC 0.06% of their portfolio | 22.8k $1.0m | New |
| Quantinno Capital Management LP 0.00% of their portfolio | 22.8k $1.0m | New |
| BFSG, LLC 0.11% of their portfolio | 21.1k $968.3k | New |
| DRW Securities, LLC 0.09% of their portfolio | 20.0k $1.2m | New |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 19.5k $891.6k | New |
| Swiss Life Asset Management Ltd 0.00% of their portfolio | 18.4k $843.8k | New |
| Westerkirk Capital Inc. 0.09% of their portfolio | 16.4k $751.4k | First filing |
| JOHN G ULLMAN & ASSOCIATES INC 0.11% of their portfolio | 15.8k $723.4k | Unchanged |
| NATIXIS 0.00% of their portfolio | 14.9k $682.4k | New |