Vault-13

EMERA INC EMA

COM · Common Stock · CUSIP 290876101

Publicly traded Canadian multinational energy holding company based in Halifax, Nova Scotia

166 institutional holders +32 vs Q2 2025
151,106,605151.1m shares reported held*
$7.3bnreported value*
42 new 58 added 36 reduced 10 sold out net sold ≈ $480.7m (-10.0m shares)

* 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 ($246.5m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $48.09. Options: 6 managers hold calls ($76.3m notional), 5 hold puts ($60.1m).

Trends to Q3 2025

Institutional holders

Managers reporting a position, each quarter

0100200Q3 22: 2Q4 22: 2Q1 23: 2Q2 23: 2Q3 23: 2Q4 23: 2Q1 24: 3Q2 24: 5Q3 24: 3Q4 24: 3Q1 25: 5Q2 25: 134Q3 25: 166166Q3 22Q2 23Q1 24Q4 24Q3 25
Numbers
QuarterHolders
Q3 20222
Q4 20222
Q1 20232
Q2 20232
Q3 20232
Q4 20232
Q1 20243
Q2 20245
Q3 20243
Q4 20243
Q1 20255
Q2 2025134
Q3 2025166

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
2000200Q4 23: 1 bought or addedQ4 23: 0 cut or sold outQ1 24: 1 bought or addedQ1 24: 1 cut or sold outQ1 24Q2 24: 2 bought or addedQ2 24: 1 cut or sold outQ3 24: 0 bought or addedQ3 24: 4 cut or sold outQ3 24Q4 24: 0 bought or addedQ4 24: 1 cut or sold outQ1 25: 2 bought or addedQ1 25: 1 cut or sold outQ1 25Q2 25: 129 bought or addedQ2 25: 3 cut or sold outQ3 25: 100 bought or addedQ3 25: 46 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 202310
Q1 202411
Q2 202421
Q3 202404
Q4 202401
Q1 202521
Q2 20251293
Q3 202510046

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$20m$40m$60m$80mQ4 24 calls: $0Q4 24 puts: $0Q4 24P/C —Q1 25 calls: $0Q1 25 puts: $0Q1 25P/C —Q2 25 calls: $58.7mQ2 25 puts: $27.5mQ2 25P/C 0.47Q3 25 calls: $76.3mQ3 25 puts: $60.1mQ3 25P/C 0.79
Numbers
QuarterCallsPutsP/C
Q4 2024$0$0—
Q1 2025$0$0—
Q2 2025$58.7m$27.5m0.47
Q3 2025$76.3m$60.1m0.79

Biggest buyers

Clearbridge Investments, LLC New +6,866,836+6.9m
ATLAS Infrastructure Partners (UK) Ltd. New +3,658,041+3.7m
JPMORGAN CHASE & CO Added +1,506,572+1.5m
UBS Group AG Added +836,041+836.0k
Woodbridge Co Ltd New +631,641+631.6k
GEODE CAPITAL MANAGEMENT, LLC Added +620,584+620.6k
VANGUARD GROUP INC Added +463,062+463.1k
MANUFACTURERS LIFE INSURANCE COMPANY, THE Added +441,596+441.6k
BANK OF MONTREAL /CAN/ Added +387,299+387.3k
Legal & General Group Plc Added +370,469+370.5k

Biggest sellers

ROYAL BANK OF CANADA Reduced -20,587,284-20.6m
GOLDMAN SACHS GROUP INC Reduced -2,138,153-2.1m
BANK OF NOVA SCOTIA Reduced -1,376,332-1.4m
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP Reduced -1,361,036-1.4m
CANADA PENSION PLAN INVESTMENT BOARD Reduced -889,356-889.4k
CIBC WORLD MARKET INC. Reduced -545,163-545.2k
INTACT INVESTMENT MANAGEMENT INC. Reduced -535,225-535.2k
CIBC Asset Management Inc Reduced -423,201-423.2k
NATIONAL BANK OF CANADA /FI/ Reduced -240,227-240.2k
Hillsdale Investment Management Inc. Reduced -229,704-229.7k

Biggest calls

NATIONAL BANK OF CANADA /FI/ Added $34.3m7.1k shares
TORONTO DOMINION BANK Reduced $23.3m485.8k shares
SIG North Trading, ULC Added $15.1m314.5k shares
D. E. Shaw & Co., Inc. Unchanged $3.6m75.0k shares
SIMPLEX TRADING, LLC New $43.0k900 shares
GROUP ONE TRADING LLC New $4.8k100 shares

Biggest puts

D. E. Shaw & Co., Inc. Added $26.4m550.0k shares
ROYAL BANK OF CANADA New $19.2m400.0k shares
SIG North Trading, ULC Reduced $13.5m281.3k shares
NATIONAL BANK OF CANADA /FI/ Added $897.2k187 shares
TORONTO DOMINION BANK Reduced $143.9k3.0k 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.

HolderStakeChangeShares Last filed
BlackRock, Inc. 13G · institution +1.1 pts · filed 2026-10-27 8.0% +1.1 pts 24.5m≈ $1.3bn 2026-10-27
BANK OF MONTREAL /CAN/ 13G · institution new · filed 2025-08-06 5.3% new 15.8m≈ $837.0m 2025-08-06

Insider purchases and sales in Q3 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 Q3 2025.

Holders, Q3 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 ROYAL BANK OF CANADA 0.18% of their portfolio TORONTO, A6 21,383,70621.4m $1.0bn $1.0bn 0.18% Reduced -20.6m -20,587,284
2 BANK OF MONTREAL /CAN/ 0.34% of their portfolio TORONTO, A6 16,924,72116.9m $811.8m $811.8m 0.34% Added +387.3k +387,299
3 FIL Ltd 0.50% of their portfolio HAMILTON, D0 13,173,74813.2m $632.0m $632.0m 0.50% Added +233.0k +233,012
4 VANGUARD GROUP INC 0.01% of their portfolio Valley Forge, PA 13,103,01313.1m $628.6m $628.6m 0.01% Added +463.1k +463,062
5 CIBC WORLD MARKET INC. 1.02% of their portfolio TORONTO, A6 10,300,80510.3m $494.1m $494.1m 1.02% Reduced -545.2k -545,163
6 TD Asset Management Inc 0.30% of their portfolio Toronto, A6 7,718,2637.7m $370.4m $370.4m 0.30% Reduced -39.7k -39,655
7 Clearbridge Investments, LLC 0.25% of their portfolio NEW YORK, NY 6,866,8366.9m $329.3m $329.3m 0.25% New
8 MACKENZIE FINANCIAL CORP 0.30% of their portfolio TORONTO ONTARIO, A6 5,180,4375.2m $248.5m $248.5m 0.30% Added +26.1k +26,137
9 SCOTIA CAPITAL INC. 0.92% of their portfolio TORONTO, A6 4,551,1864.6m $216.8m $216.8m 0.92% Added +37.8k +37,778
10 Legal & General Group Plc 0.04% of their portfolio London, X0 3,965,2844.0m $190.3m $190.3m 0.04% Added +370.5k +370,469
11 GEODE CAPITAL MANAGEMENT, LLC 0.01% of their portfolio BOSTON, MA 3,840,0323.8m $195.2m $195.2m 0.01% Added +620.6k +620,584
12 NATIONAL BANK OF CANADA /FI/ 0.20% of their portfolio MONTREAL, A8 3,755,4323.8m $179.6m $179.6m 0.20% Reduced -240.2k -240,227
13 ATLAS Infrastructure Partners (UK) Ltd. 9.43% of their portfolio LONDON, X0 3,658,0413.7m $175.4m $175.4m 9.43% New
14 GOLDMAN SACHS GROUP INC 0.02% of their portfolio NEW YORK, NY 3,263,5753.3m $156.5m $156.5m 0.02% Reduced -2.1m -2,138,153
15 BANK OF NOVA SCOTIA 0.27% of their portfolio TORONTO, A6 3,191,6983.2m $153.1m $153.1m 0.27% Reduced -1.4m -1,376,332
16 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 2,769,7822.8m $132.8m $132.8m 0.00% Added +1.5m +1,506,572
17 TORONTO DOMINION BANK 0.22% of their portfolio TORONTO, ONTARIO, A6 2,390,5942.4m $114.6m $114.6m 0.22% Reduced -109.6k -109,633
18 TD Waterhouse Canada Inc. 0.61% of their portfolio TORONTO, A6 1,957,7932.0m $93.3m $93.3m 0.61% Added +20.6k +20,640
19 BANK OF AMERICA CORP /DE/ 0.01% of their portfolio CHARLOTTE, NC 1,596,7821.6m $76.6m $76.6m 0.01% Added +324.9k +324,875
20 ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.05% of their portfolio BOSTON, MA 1,548,1961.5m $74.3m $74.3m 0.05% Reduced -1.4m -1,361,036
21 CIBC Asset Management Inc 0.21% of their portfolio TORONTO, Z4 1,545,4511.5m $74.1m $74.1m 0.21% Reduced -423.2k -423,201
22 UBS Group AG 0.01% of their portfolio ZURICH, V8 1,242,6781.2m $59.6m $59.6m 0.01% Added +836.0k +836,041
23 INTACT INVESTMENT MANAGEMENT INC. 1.67% of their portfolio MONTREAL, A8 1,152,1051.2m $55.3m $55.3m 1.67% Reduced -535.2k -535,225
24 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 1,147,7711.1m $55.0m $55.0m 0.00% Added +217.1k +217,061
25 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.04% of their portfolio Toronto, A6 1,131,1861.1m $54.3m $54.3m 0.04% Added +441.6k +441,596
26 Connor, Clark & Lunn Investment Management Ltd. 0.17% of their portfolio VANCOUVER, A1 1,116,1511.1m $53.5m $53.5m 0.17% Added +185.7k +185,711
27 Federation des caisses Desjardins du Quebec 0.20% of their portfolio LEVIS, A8 1,045,5731.0m $49.8m $49.8m 0.20% Added +269.6k +269,620
28 CANADA PENSION PLAN INVESTMENT BOARD 0.03% of their portfolio TORONTO ONTARIO, A6 911,364911.4k $43.7m $43.7m 0.03% Reduced -889.4k -889,356
29 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio SAN FRANCISCO, CA 874,744874.7k $42.0m $42.0m 0.01% Added +59.7k +59,738
30 QV Investors Inc. 3.58% of their portfolio CALGARY, A0 861,535861.5k $41.3m $41.3m 3.58% Reduced -97.8k -97,779
31 Swiss National Bank 0.02% of their portfolio ZURICH, V8 857,300857.3k $41.1m $41.1m 0.02% Reduced -47.5k -47,500
32 FIRST TRUST ADVISORS LP 0.03% of their portfolio Wheaton, IL 841,718841.7k $40.4m $40.4m 0.03% Reduced -35.7k -35,726
33 Invesco Ltd. 0.01% of their portfolio ATLANTA, GA 798,214798.2k $38.3m $38.3m 0.01% Added +95.4k +95,383
34 Hillsdale Investment Management Inc. 1.04% of their portfolio Toronto, A6 716,803716.8k $34.4m $34.4m 1.04% Reduced -229.7k -229,704
35 FRANKLIN RESOURCES INC 0.01% of their portfolio San Mateo, CA 644,873644.9k $30.9m $30.9m 0.01% Reduced -84.6k -84,571
36 Woodbridge Co Ltd 0.06% of their portfolio Toronto, A6 631,641631.6k $30.3m $30.3m 0.06% New
37 MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.01% of their portfolio Boston, MA 550,141550.1k $26.4m $26.4m 0.01% Added +44.0k +43,999
38 MUFG SECURITIES (CANADA), LTD. 0.66% of their portfolio NEW YORK, NY 495,185495.2k $23.8m $23.8m 0.66% Reduced -9.6k -9,568
39 Addenda Capital Inc. 0.95% of their portfolio MONTREAL, A8 478,748478.7k $32.0m $32.0m 0.95% Added +1.5k +1,540
40 Northwest & Ethical Investments L.P. 0.45% of their portfolio TORONTO, A6 397,015397.0k $19.0m $19.0m 0.45% Reduced -37.4k -37,430
41 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 317,397317.4k $15.2m $15.2m 0.00% Reduced -37.9k -37,907
42 DEUTSCHE BANK AG\ 0.01% of their portfolio FRANKFURT AM MAIN, 2M 312,382312.4k $15.0m $15.0m 0.01% Added +11.3k +11,263
43 Beutel, Goodman & Co Ltd. 0.08% of their portfolio TORONTO, A6 292,263292.3k $14.0m $14.0m 0.08% Reduced -7.0k -7,025
44 Harvest Portfolios Group Inc. 0.24% of their portfolio Oakville, A6 268,845268.8k $12.9m $12.9m 0.24% Added +15.2k +15,157
45 Aviso Financial Inc. 0.51% of their portfolio TORONTO, A6 260,455260.5k $12.5m $12.5m 0.51% Added +2.9k +2,901
46 GABELLI FUNDS LLC 0.08% of their portfolio Rye, NY 249,000249.0k $12.0m $12.0m 0.08% Reduced -700 -700
47 LAZARD ASSET MANAGEMENT LLC 0.02% of their portfolio NEW YORK, NY 237,548237.5k $11.4m $11.4m 0.02% New
48 D. E. Shaw & Co., Inc. 0.01% of their portfolio New York, NY 232,788232.8k $11.2m $11.2m 0.01% Added +105.7k +105,711
49 HSBC HOLDINGS PLC 0.01% of their portfolio LONDON, X0 232,129232.1k $11.1m $11.1m 0.01% Added +79.6k +79,619
50 CITIGROUP INC 0.01% of their portfolio NEW YORK, NY 228,277228.3k $11.0m $11.0m 0.01% Added +152.0k +152,024
51 Cardinal Capital Management, Inc. 0.30% of their portfolio WINNIPEG, A2 218,770218.8k $10.5m $10.5m 0.30% New
52 AMERICAN CENTURY COMPANIES INC 0.01% of their portfolio KANSAS CITY, MO 217,719217.7k $10.4m $10.4m 0.01% Added +56.6k +56,608
53 ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio NASHVILLE, TN 213,373213.4k $10.2m $10.2m 0.00% Added +190.5k +190,519
54 Cardinal Point Capital Management ULC 0.71% of their portfolio TORONTO, A6 213,007213.0k $10.2m $10.2m 0.71% New
55 Nuveen, LLC 0.00% of their portfolio CHARLOTTE, NC 207,765207.8k $10.0m $10.0m 0.00% Unchanged
56 APG Asset Management N.V. 0.02% of their portfolio Amsterdam, P7 182,648182.6k $7.5m $7.5m 0.02% Added +2.1k +2,100
57 Guardian Partners Inc. 0.72% of their portfolio TORONTO, Z4 177,397177.4k $8.5m $8.5m 0.72% Reduced -637 -637
58 State of Tennessee, Department of Treasury 0.03% of their portfolio NASHVILLE, TN 174,299174.3k $8.4m $8.4m 0.03% Added +4.8k +4,800
59 Alberta Investment Management Corp 0.06% of their portfolio EDMONTON, A0 173,100173.1k $8.3m $8.3m 0.06% Added +3.9k +3,900
60 BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 0.05% of their portfolio VICTORIA, A1 172,224172.2k $8.3m $8.3m 0.05% Added +10.9k +10,911
61 VAN LANSCHOT KEMPEN INVESTMENT MANAGEMENT N.V. 0.10% of their portfolio AMSTERDAM, P7 171,031171.0k $11.4m $11.4m 0.10% Reduced -305 -305
62 Amundi 0.00% of their portfolio Paris, I0 168,761168.8k $8.1m $8.1m 0.00% New
63 NEUBERGER BERMAN GROUP LLC 0.00% of their portfolio NEW YORK, NY 143,078143.1k $5.1m $5.1m 0.00% Added +26.2k +26,221
64 Pictet Asset Management Holding SA 0.01% of their portfolio CAROUGE, V8 136,171136.2k $6.5m $6.5m 0.01% Added +16.3k +16,257
65 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 123,266123.3k $5.9m $5.9m 0.00% Added +34.4k +34,442
66 VAN ECK ASSOCIATES CORP 0.00% of their portfolio NEW YORK, NY 108,635108.6k $5.2m $5.2m 0.00% Added +6.9k +6,866
67 Russell Investments Group, Ltd. 0.01% of their portfolio Seattle, WA 107,611107.6k $5.2m $5.2m 0.01% Added +22.7k +22,654
68 CANADA LIFE ASSURANCE Co 0.01% of their portfolio WINNIPEG, A2 104,727104.7k $5.0m $5.0m 0.01% Added +14.7k +14,667
69 PRINCIPAL FINANCIAL GROUP INC 0.00% of their portfolio DES MOINES, IA 101,347101.3k $4.9m $4.9m 0.00% Reduced -24.3k -24,300
70 Public Sector Pension Investment Board 0.02% of their portfolio MONTREAL, A8 89,85189.9k $4.3m $4.3m 0.02% Added +61.2k +61,248
71 Zurcher Kantonalbank (Zurich Cantonalbank) 0.01% of their portfolio ZURICH, V8 82,06782.1k $3.9m $3.9m 0.01% Added +4.9k +4,862
72 Korea Investment CORP 0.01% of their portfolio SEOUL, M5 80,71680.7k $3.9m $3.9m 0.01% Reduced -71.9k -71,854
73 BANK OF NOVA SCOTIA TRUST CO 0.30% of their portfolio TORONTO, A6 67,43367.4k $3.2m $3.2m 0.30% Added +1.2k +1,215
74 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 66,88166.9k $3.2m $3.2m 0.00% New
75 Heronetta Management, L.P. 2.43% of their portfolio NEW YORK, NY 66,50066.5k $4.4m $4.4m 2.43% Unchanged
76 1832 Asset Management L.P. 0.01% of their portfolio TORONTO, A6 66,43466.4k $3.2m $3.2m 0.01% New
77 Quantinno Capital Management LP 0.01% of their portfolio NEW YORK, NY 65,01665.0k $3.1m $3.1m 0.01% Added +42.2k +42,172
78 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 60,99561.0k $2.9m $2.9m 0.00% New
79 Rathbones Group PLC 0.01% of their portfolio Liverpool, X0 58,70058.7k $2.8m $2.8m 0.01% Unchanged
80 Tacita Capital Inc 1.66% of their portfolio TORONTO, A6 57,08657.1k $2.7m $2.7m 1.66% Unchanged
81 Sky Investment Group LLC 0.44% of their portfolio HARTFORD, CT 54,28054.3k $2.6m $2.6m 0.44% Reduced -200 -200
82 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 53,94653.9k $2.6m $2.6m 0.00% Added +8.6k +8,591
83 PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.01% of their portfolio COLUMBUS, OH 53,72353.7k $2.6m $2.6m 0.01% Reduced -27.7k -27,704
84 Qube Research & Technologies Ltd 0.00% of their portfolio LONDON, X0 51,58851.6k $2.5m $2.5m 0.00% Added +11.3k +11,265
85 Fiera Capital Corp 0.01% of their portfolio MONTREAL, A8 43,41143.4k $2.1m $2.1m 0.01% Reduced -2.6k -2,566
86 O'SHAUGHNESSY ASSET MANAGEMENT, LLC 0.01% of their portfolio Stamford, CT 42,98443.0k $2.1m $2.1m 0.01% Reduced -240 -240
87 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 37,44637.4k $1.8m $1.8m 0.00% New
88 DekaBank Deutsche Girozentrale 0.00% of their portfolio FRANKFURT, 2M 37,11837.1k $1.8m $1.8m 0.00% Unchanged
89 PICTON MAHONEY ASSET MANAGEMENT 0.02% of their portfolio Toronto, A6 37,04837.0k $1.8m $1.8m 0.02% Unchanged
90 Capital World Investors 0.00% of their portfolio LOS ANGELES, CA 36,89436.9k $1.8m $1.8m 0.00% Added +29.1k +29,139
91 Utah Retirement Systems 0.02% of their portfolio SALT LAKE CITY, UT 33,44133.4k $1.6m $1.6m 0.02% Added +641 +641
92 USS Investment Management Ltd 0.01% of their portfolio London, X0 30,92830.9k $1.5m $1.5m 0.01% Unchanged
93 TWO SIGMA ADVISERS, LP 0.00% of their portfolio NEW YORK, NY 29,82229.8k $1.4m $1.4m 0.00% Reduced -3.8k -3,800
94 Y-Intercept (Hong Kong) Ltd 0.03% of their portfolio HONG KONG, K3 29,07229.1k $1.4m $1.4m 0.03% Added +23.9k +23,852
95 FMR LLC 0.00% of their portfolio BOSTON, MA 26,37726.4k $1.3m $1.3m 0.00% Added +442 +442
96 NATIXIS 0.01% of their portfolio PARIS, I0 26,10326.1k $1.3m $1.3m 0.01% Added +11.2k +11,209
97 JUPITER ASSET MANAGEMENT LTD 0.01% of their portfolio London, X0 25,49525.5k $1.2m $1.2m 0.01% New
98 Versor Investments LP 0.21% of their portfolio New York, NY 24,33624.3k $1.2m $1.2m 0.21% Reduced -4.6k -4,600
99 A. D. Beadell Investment Counsel, Inc. 0.79% of their portfolio MEQUON, WI 24,05524.1k $1.2m $1.2m 0.79% Unchanged
100 CIDEL ASSET MANAGEMENT INC 0.06% of their portfolio TORONTO, A6 22,84522.8k $1.1m $1.1m 0.06% Unchanged