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 ($280.0m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $53.93. Options: 10 managers hold calls ($93.6m notional), 7 hold puts ($7.2m).
Trends to Q2 2026
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 |
| Q3 2025 | 166 |
| Q4 2025 | 176 |
| Q1 2026 | 207 |
| Q2 2026 | 220 |
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 2024 | 0 | 4 |
| Q4 2024 | 0 | 1 |
| Q1 2025 | 2 | 1 |
| Q2 2025 | 129 | 3 |
| Q3 2025 | 100 | 46 |
| Q4 2025 | 87 | 76 |
| Q1 2026 | 116 | 66 |
| Q2 2026 | 138 | 65 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2025 | $76.3m | $60.1m | 0.79 |
| Q4 2025 | $82.9m | $47.5m | 0.57 |
| Q1 2026 | $81.0m | $46.2m | 0.57 |
| Q2 2026 | $93.6m | $7.2m | 0.08 |
Biggest buyers
| MORGAN STANLEY | Added | +2.7m |
| CANADA PENSION PLAN INVESTMENT BOARD | Added | +1.5m |
| GOLDMAN SACHS GROUP INC | Added | +1.1m |
| Covalis Capital LLP | New | +734.5k |
| JANE STREET GROUP, LLC | Added | +594.1k |
| TWO SIGMA INVESTMENTS, LP | Added | +455.5k |
| CIBC WORLD MARKET INC. | Added | +448.3k |
| ROYAL BANK OF CANADA | Added | +444.4k |
| BANK OF MONTREAL /CAN/ | Added | +379.1k |
| GEODE CAPITAL MANAGEMENT, LLC | Added | +338.0k |
Biggest sellers
| TD Asset Management Inc | Reduced | -2.5m |
| ATLAS Infrastructure Partners (UK) Ltd. | Reduced | -1.9m |
| BANK OF AMERICA CORP /DE/ | Reduced | -1.1m |
| Point72 Asset Management, L.P. | Sold out | -1.0m |
| FIL Ltd | Reduced | -782.4k |
| TORONTO DOMINION BANK | Reduced | -769.4k |
| Invesco Ltd. | Reduced | -379.1k |
| MACKENZIE FINANCIAL CORP | Reduced | -190.5k |
| DUFF & PHELPS INVESTMENT MANAGEMENT CO | Reduced | -187.7k |
| CIBC Asset Management Inc | Reduced | -164.1k |
Biggest calls
| TORONTO DOMINION BANK | Reduced | $30.4m573.4k shares |
| SIG North Trading, ULC | Added | $21.6m407.6k shares |
| NATIONAL BANK OF CANADA /FI/ | Reduced | $15.0m2.8k shares |
| ROYAL BANK OF CANADA | New | $11.1m210.0k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | New | $6.1m114.3k shares |
| D. E. Shaw & Co., Inc. | Added | $5.3m100.0k shares |
| CITADEL ADVISORS LLC | New | $3.4m64.1k shares |
| JANE STREET GROUP, LLC | New | $328.6k6.2k shares |
| IMC-Chicago, LLC | New | $201.5k3.8k shares |
| SIMPLEX TRADING, LLC | Added | $180.3k3.4k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | New | $2.4m46.1k shares |
| ROYAL BANK OF CANADA | Reduced | $1.9m36.0k shares |
| SIG North Trading, ULC | Added | $1.7m32.3k shares |
| TORONTO DOMINION BANK | Added | $763.1k14.4k shares |
| NATIONAL BANK OF CANADA /FI/ | Reduced | $270.5k51 shares |
| SIMPLEX TRADING, LLC | New | $68.9k1.3k shares |
| BANK OF MONTREAL /CAN/ | New | $26.5k500 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 since 1 Apr 2026
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 since 1 Apr 2026.
Holders, Q2 2026
| Manager | Shares | Change |
|---|---|---|
| BANK OF MONTREAL /CAN/ 0.35% of their portfolio | 18.2m $966.2m | Added +379.1k |
| ROYAL BANK OF CANADA 0.16% of their portfolio | 18.0m $956.7m | Added +444.4k |
| CIBC WORLD MARKET INC. 1.14% of their portfolio | 12.8m $679.7m | Added +448.3k |
| FIL Ltd 0.46% of their portfolio | 12.0m $638.1m | Reduced -782.4k |
| VANGUARD CAPITAL MANAGEMENT LLC 0.01% of their portfolio | 8.7m $463.8m | Added +203.1k |
| ATLAS Infrastructure Partners (UK) Ltd. 11.36% of their portfolio | 7.1m $374.8m | Reduced -1.9m |
| TD Asset Management Inc 0.23% of their portfolio | 5.1m $269.8m | Reduced -2.5m |
| GEODE CAPITAL MANAGEMENT, LLC 0.01% of their portfolio | 4.7m $269.1m | Added +338.0k |
| TD Waterhouse Canada Inc. 0.64% of their portfolio | 4.6m $242.6m | Added +57.5k |
| SCOTIA CAPITAL INC. 0.91% of their portfolio | 4.6m $243.5m | Reduced -70.2k |
| GOLDMAN SACHS GROUP INC 0.02% of their portfolio | 4.4m $234.2m | Added +1.1m |
| MORGAN STANLEY 0.01% of their portfolio | 4.1m $219.4m | Added +2.7m |
| CANADA PENSION PLAN INVESTMENT BOARD 0.12% of their portfolio | 3.9m $208.7m | Added +1.5m |
| MACKENZIE FINANCIAL CORP 0.29% of their portfolio | 3.9m $293.0m | Reduced -190.5k |
| NATIONAL BANK OF CANADA /FI/ 0.18% of their portfolio | 3.8m $201.8m | Added +161.3k |
| Legal & General Group Plc 0.04% of their portfolio | 3.7m $193.7m | Reduced -65.6k |
| BANK OF NOVA SCOTIA 0.27% of their portfolio | 3.3m $175.9m | Reduced -32.4k |
| VANGUARD FIDUCIARY TRUST CO 0.03% of their portfolio | 2.7m $143.3m | Added +50.3k |
| Vanguard Global Advisers, LLC 0.06% of their portfolio | 2.3m $124.1m | Added +217.0k |
| INTACT INVESTMENT MANAGEMENT INC. 2.97% of their portfolio | 2.0m $104.4m | Added +173.7k |
| TORONTO DOMINION BANK 0.17% of their portfolio | 1.9m $102.4m | Reduced -769.4k |
| Connor, Clark & Lunn Investment Management Ltd. 0.14% of their portfolio | 1.4m $76.2m | Reduced -6.6k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 1.4m $73.6m | Added +71.6k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.05% of their portfolio | 1.2m $65.3m | Added +71.0k |
| DUFF & PHELPS INVESTMENT MANAGEMENT CO 0.82% of their portfolio | 1.2m $87.4m | Reduced -187.7k |
| Federation des caisses Desjardins du Quebec 0.16% of their portfolio | 1.0m $53.3m | Reduced -22.0k |
| Swiss National Bank 0.03% of their portfolio | 979.4k $51.8m | Reduced -36.2k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio | 973.1k $51.6m | Added +49.2k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 832.1k $44.1m | Reduced -1.1m |
| Hillsdale Investment Management Inc. 0.99% of their portfolio | 821.8k $43.5m | Added +181.5k |
| Invesco Ltd. 0.00% of their portfolio | 797.6k $42.3m | Reduced -379.1k |
| QV Investors Inc. 3.05% of their portfolio | 747.2k $39.6m | Reduced -35.7k |
| Covalis Capital LLP 2.20% of their portfolio | 734.5k $38.9m | New |
| CIBC Asset Management Inc 0.08% of their portfolio | 656.2k $34.7m | Reduced -164.1k |
| FIRST TRUST ADVISORS LP 0.02% of their portfolio | 647.0k $34.3m | Reduced -60.7k |
| Woodbridge Co Ltd 0.13% of their portfolio | 631.6k $33.5m | Unchanged |
| JANE STREET GROUP, LLC 0.02% of their portfolio | 617.2k $32.7m | Added +594.1k |
| FRANKLIN RESOURCES INC 0.01% of their portfolio | 615.2k $32.6m | Added +22.4k |
| VANGUARD ASSET MANAGEMENT, Ltd 0.02% of their portfolio | 608.3k $32.3m | Added +53.1k |
| Public Sector Pension Investment Board 0.08% of their portfolio | 587.0k $31.1m | Added +290.1k |
| BlackRock, Inc. 0.00% of their portfolio | 574.2k $30.4m | Added +211.4k |
| TWO SIGMA INVESTMENTS, LP 0.02% of their portfolio | 504.0k $26.7m | Added +455.5k |
| MUFG SECURITIES (CANADA), LTD. 0.62% of their portfolio | 432.8k $22.9m | Reduced -14.8k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.01% of their portfolio | 425.7k $32.0m | Reduced -4.2k |
| Addenda Capital Inc. 0.86% of their portfolio | 421.8k $31.7m | Added +248 |
| DEUTSCHE BANK AG\ 0.01% of their portfolio | 404.7k $21.5m | Added +33.1k |
| BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 0.12% of their portfolio | 374.9k $19.9m | Added +119.0k |
| AMERICAN CENTURY COMPANIES INC 0.01% of their portfolio | 374.4k $19.9m | Added +46.8k |
| Harvest Portfolios Group Inc. 0.27% of their portfolio | 356.4k $18.9m | Added +25.6k |
| Northwest & Ethical Investments L.P. 0.43% of their portfolio | 350.5k $18.6m | Added +4.3k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 337.4k $17.9m | Added +21.2k |
| AQR CAPITAL MANAGEMENT LLC 0.01% of their portfolio | 310.4k $16.4m | Added +138.7k |
| Purpose Unlimited Inc. 0.63% of their portfolio | 308.0k $16.4m | Added +10.0k |
| Vanguard Investments Australia, Ltd. 0.04% of their portfolio | 302.6k $16.0m | Added +7.7k |
| Quantinno Capital Management LP 0.02% of their portfolio | 299.4k $15.9m | Added +117.1k |
| UBS Group AG 0.00% of their portfolio | 293.6k $15.6m | Reduced -57.3k |
| Aviso Financial Inc. 0.51% of their portfolio | 274.7k $14.6m | Added +2.2k |
| Beutel, Goodman & Co Ltd. 0.10% of their portfolio | 267.7k $14.2m | Reduced -8.3k |
| GABELLI FUNDS LLC 0.08% of their portfolio | 249.0k $13.2m | Unchanged |
| AGF MANAGEMENT LTD 0.05% of their portfolio | 244.7k $13.2m | Added +3.6k |
| Amundi 0.00% of their portfolio | 239.9k $12.7m | Reduced -13.1k |
| Cardinal Capital Management, Inc. 0.29% of their portfolio | 223.8k $11.8m | Added +2.0k |
| Nuveen, LLC 0.00% of their portfolio | 222.1k $11.8m | Added +10.3k |
| LAZARD ASSET MANAGEMENT LLC 0.02% of their portfolio | 207.1k $11.0m | Added +764 |
| APG Asset Management N.V. 0.02% of their portfolio | 206.8k $9.6m | Added +58.8k |
| Quadrature Capital Ltd 0.08% of their portfolio | 182.6k $9.7m | Added +126.4k |
| BARCLAYS PLC 0.00% of their portfolio | 180.1k $9.6m | Added +48.4k |
| Qube Research & Technologies Ltd 0.01% of their portfolio | 177.9k $9.4m | Added +71.7k |
| State of Tennessee, Department of Treasury 0.03% of their portfolio | 169.7k $9.0m | Reduced -4.6k |
| Guardian Partners Inc. 0.77% of their portfolio | 160.7k $8.5m | Reduced -25.7k |
| NEUBERGER BERMAN GROUP LLC 0.01% of their portfolio | 151.2k $8.0m | Added +8.8k |
| CITIGROUP INC 0.00% of their portfolio | 151.0k $8.0m | Added +84.8k |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.01% of their portfolio | 147.5k $7.8m | Added +21.9k |
| D. E. Shaw & Co., Inc. 0.00% of their portfolio | 143.0k $7.6m | Added +38.7k |
| VAN ECK ASSOCIATES CORP 0.00% of their portfolio | 130.1k $6.9m | Added +7.7k |
| Pictet Asset Management Holding SA 0.01% of their portfolio | 120.5k $6.4m | Reduced -5.7k |
| Lombard Odier Asset Management (Switzerland) SA 0.20% of their portfolio | 116.7k $6.2m | Added +3.7k |
| CITADEL ADVISORS LLC 0.00% of their portfolio | 116.0k $6.1m | Reduced -53.2k |
| STATE OF WISCONSIN INVESTMENT BOARD 0.01% of their portfolio | 115.1k $6.1m | Added +20.1k |
| Russell Investments Group, Ltd. 0.01% of their portfolio | 114.1k $6.1m | Reduced -47.0k |
| CANADA LIFE ASSURANCE Co 0.01% of their portfolio | 105.5k $5.6m | Unchanged |
| Zurcher Kantonalbank (Zurich Cantonalbank) 0.01% of their portfolio | 99.0k $5.3m | Added +18.8k |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.01% of their portfolio | 83.9k $4.4m | New |
| Alberta Investment Management Corp 0.03% of their portfolio | 82.8k $4.4m | Added +1.9k |
| BANK OF NOVA SCOTIA TRUST CO 0.31% of their portfolio | 70.4k $3.7m | Added +1.2k |
| 1832 Asset Management L.P. 0.00% of their portfolio | 62.4k $3.3m | Reduced -2.4k |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 60.6k $3.2m | Added +14.4k |
| Rathbones Group PLC 0.01% of their portfolio | 58.9k $3.1m | Reduced -58.9k |
| Tacita Capital Inc 1.64% of their portfolio | 57.1k $3.0m | Unchanged |
| Creative Planning 0.00% of their portfolio | 57.0k $3.0m | Added +33.6k |
| MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio | 56.9k $3.0m | Reduced -8.6k |
| WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio | 55.2k $2.9m | New |
| Sky Investment Group LLC 0.45% of their portfolio | 54.0k $2.9m | Reduced -400 |
| Greenland Capital Management LP 0.48% of their portfolio | 48.3k $2.6m | New |
| Capital World Investors 0.00% of their portfolio | 46.7k $2.5m | Unchanged |
| HRT FINANCIAL LP 0.01% of their portfolio | 45.6k $2.4m | New |
| Investment Management Corp of Ontario 0.03% of their portfolio | 43.7k $2.3m | Added +747 |
| NATIXIS 0.01% of their portfolio | 42.8k $2.3m | Added +7.8k |
| DekaBank Deutsche Girozentrale 0.00% of their portfolio | 37.1k $1.9m | Unchanged |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.01% of their portfolio | 35.5k $1.9m | Reduced -33.3k |