PEMBINA PIPELINE CORP PBA
COM · Common Stock · CUSIP 706327103 · ISIN CA7063271034
Transportation, midstream and gas service provider
- SectorEnergy
- IndustryOil & Gas Field Exploration Services
- HeadquartersCalgary, Canada
- Founded1954
- Websitepembina.com
- FilingsSEC EDGAR
* 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 ($279.8m this quarter). Holder counts are more reliable. Shares outstanding: 580.6m as of 2024-12-31, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $40.13. Options: 13 managers hold calls ($146.0m notional), 13 hold puts ($266.1m).
Trends to Q1 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 364 |
| Q4 2022 | 373 |
| Q1 2023 | 372 |
| Q2 2023 | 370 |
| Q3 2023 | 352 |
| Q4 2023 | 369 |
| Q1 2024 | 393 |
| Q2 2024 | 384 |
| Q3 2024 | 393 |
| Q4 2024 | 397 |
| Q1 2025 | 420 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q2 2023 | 157 | 170 |
| Q3 2023 | 152 | 160 |
| Q4 2023 | 165 | 158 |
| Q1 2024 | 187 | 155 |
| Q2 2024 | 171 | 159 |
| Q3 2024 | 174 | 167 |
| Q4 2024 | 166 | 168 |
| Q1 2025 | 206 | 162 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2024 | $135.0m | $336.2m | 2.49 |
| Q3 2024 | $83.3m | $421.5m | 5.06 |
| Q4 2024 | $89.9m | $471.1m | 5.24 |
| Q1 2025 | $146.0m | $266.1m | 1.82 |
Biggest buyers
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | New | +3.8m |
| GOLDMAN SACHS GROUP INC | Added | +2.9m |
| CIBC WORLD MARKET INC. | Added | +2.4m |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | Added | +2.3m |
| MILLENNIUM MANAGEMENT LLC | Added | +1.0m |
| NATIONAL BANK OF CANADA /FI/ | Added | +917.9k |
| Pictet Asset Management Holding SA | Added | +916.2k |
| Invesco Ltd. | Added | +897.4k |
| MORGAN STANLEY | Added | +868.2k |
| BANK OF AMERICA CORP /DE/ | Added | +783.5k |
Biggest sellers
| MACKENZIE FINANCIAL CORP | Reduced | -28.5m |
| Blackstone Inc. | Reduced | -3.8m |
| FIL Ltd | Reduced | -3.2m |
| BANK OF MONTREAL /CAN/ | Reduced | -3.2m |
| ROYAL BANK OF CANADA | Reduced | -2.8m |
| Connor, Clark & Lunn Investment Management Ltd. | Reduced | -1.7m |
| BANK OF NOVA SCOTIA | Reduced | -1.6m |
| BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp | Reduced | -1.2m |
| Federation des caisses Desjardins du Quebec | Reduced | -1.1m |
| DEUTSCHE BANK AG\ | Reduced | -1.1m |
Biggest calls
| ROYAL BANK OF CANADA | Added | $51.0m1.3m shares |
| TORONTO DOMINION BANK | Added | $31.3m781.3k shares |
| SIG North Trading, ULC | Added | $21.3m533.2k shares |
| D. E. Shaw & Co., Inc. | Unchanged | $13.2m330.0k shares |
| BANK OF AMERICA CORP /DE/ | Unchanged | $10.0m250.0k shares |
| NATIONAL BANK OF CANADA /FI/ | Reduced | $9.6m2.4k shares |
| CITADEL ADVISORS LLC | Added | $3.6m89.9k shares |
| JANE STREET GROUP, LLC | Reduced | $2.4m61.2k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $1.5m37.1k shares |
| SIMPLEX TRADING, LLC | Added | $1.3m31.8k shares |
Biggest puts
| ROYAL BANK OF CANADA | Reduced | $75.5m1.9m shares |
| SIG North Trading, ULC | Reduced | $70.7m1.8m shares |
| TORONTO DOMINION BANK | Reduced | $66.2m1.7m shares |
| MILLENNIUM MANAGEMENT LLC | Reduced | $13.4m232.0k shares |
| D. E. Shaw & Co., Inc. | Reduced | $12.7m316.4k shares |
| JANE STREET GROUP, LLC | Reduced | $9.6m240.0k shares |
| BANK OF AMERICA CORP /DE/ | Unchanged | $9.2m230.0k shares |
| NATIONAL BANK OF CANADA /FI/ | Reduced | $8.0m2.0k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | New | $440.3k11.0k shares |
| CITADEL ADVISORS LLC | Reduced | $264.2k6.6k 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.
Insider purchases and sales in Q1 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 Q1 2025.
Holders, Q1 2025
| Manager | Shares | Change |
|---|---|---|
| ROYAL BANK OF CANADA 0.37% of their portfolio | 41.2m $1.6bn | Reduced -2.8m |
| VANGUARD GROUP INC 0.02% of their portfolio | 25.3m $1.0bn | Added +409.4k |
| BANK OF MONTREAL /CAN/ 0.45% of their portfolio | 21.3m $850.9m | Reduced -3.2m |
| FIL Ltd 0.58% of their portfolio | 15.2m $606.6m | Reduced -3.2m |
| MACKENZIE FINANCIAL CORP 0.76% of their portfolio | 13.3m $532.6m | Reduced -28.5m |
| CIBC WORLD MARKET INC. 1.21% of their portfolio | 13.2m $530.3m | Added +2.4m |
| DEUTSCHE BANK AG\ 0.21% of their portfolio | 13.2m $527.7m | Reduced -1.1m |
| CANADA PENSION PLAN INVESTMENT BOARD 0.33% of their portfolio | 8.4m $335.5m | Unchanged |
| GOLDMAN SACHS GROUP INC 0.05% of their portfolio | 7.1m $283.8m | Added +2.9m |
| TD Asset Management Inc 0.26% of their portfolio | 7.0m $278.0m | Added +161.1k |
| NATIONAL BANK OF CANADA /FI/ 0.28% of their portfolio | 6.0m $237.9m | Added +917.9k |
| MORGAN STANLEY 0.02% of their portfolio | 5.6m $226.0m | Added +868.2k |
| BANK OF NOVA SCOTIA 0.49% of their portfolio | 5.5m $218.9m | Reduced -1.6m |
| ClearBridge Investments Ltd 5.63% of their portfolio | 5.4m $216.9m | Added +181.2k |
| SCOTIA CAPITAL INC. 1.12% of their portfolio | 5.2m $208.9m | Added +260.8k |
| BANK OF AMERICA CORP /DE/ 0.02% of their portfolio | 5.2m $207.6m | Added +783.5k |
| CIBC Asset Management Inc 0.68% of their portfolio | 5.1m $205.0m | Reduced -766.0k |
| NORGES BANK 0.03% of their portfolio | 4.8m $191.7m | Added +135.5k |
| Connor, Clark & Lunn Investment Management Ltd. 0.80% of their portfolio | 4.6m $183.4m | Reduced -1.7m |
| Legal & General Group Plc 0.05% of their portfolio | 4.6m $182.2m | Added +21.1k |
| TORONTO DOMINION BANK 0.42% of their portfolio | 4.1m $165.8m | Reduced -99.3k |
| TORTOISE CAPITAL ADVISORS, L.L.C. 1.98% of their portfolio | 4.1m $164.2m | Reduced -137.4k |
| GEODE CAPITAL MANAGEMENT, LLC 0.01% of their portfolio | 4.0m $165.2m | Added +500.9k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.15% of their portfolio | 4.0m $160.7m | Added +2.3m |
| KAYNE ANDERSON CAPITAL ADVISORS LP 3.44% of their portfolio | 3.9m $156.1m | Reduced -163.8k |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.33% of their portfolio | 3.8m $150.0m | New |
| JPMORGAN CHASE & CO 0.01% of their portfolio | 3.4m $134.3m | Reduced -387.0k |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.28% of their portfolio | 3.3m $133.3m | Added +713.0k |
| Capital World Investors 0.02% of their portfolio | 3.2m $126.8m | Added +4.1k |
| Cardinal Capital Management, Inc. 3.97% of their portfolio | 2.9m $117.0m | Added +3.2k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.09% of their portfolio | 2.7m $107.4m | Added +705.7k |
| Amundi 0.04% of their portfolio | 2.7m $108.5m | Added +60.5k |
| Invesco Ltd. 0.02% of their portfolio | 2.5m $101.0m | Added +897.4k |
| DekaBank Deutsche Girozentrale 0.17% of their portfolio | 2.2m $86.4m | Reduced -4.2k |
| Nuveen, LLC 0.03% of their portfolio | 2.1m $83.7m | First filing |
| 1832 Asset Management L.P. 0.16% of their portfolio | 2.0m $81.6m | Reduced -90.9k |
| BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 0.49% of their portfolio | 2.0m $79.7m | Reduced -1.2m |
| Recurrent Investment Advisors LLC 6.75% of their portfolio | 2.0m $79.6m | Added +360.3k |
| INTACT INVESTMENT MANAGEMENT INC. 2.67% of their portfolio | 1.9m $77.8m | Added +223.1k |
| CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT 4.41% of their portfolio | 1.8m $71.5m | Added +110.0k |
| HSBC HOLDINGS PLC 0.04% of their portfolio | 1.7m $67.3m | Added +541.3k |
| Swiss National Bank 0.05% of their portfolio | 1.7m $66.1m | Reduced -32.3k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio | 1.6m $62.8m | Added +25.3k |
| Alberta Investment Management Corp 0.42% of their portfolio | 1.5m $61.8m | Reduced -202.1k |
| Federation des caisses Desjardins du Quebec 0.30% of their portfolio | 1.5m $61.1m | Reduced -1.1m |
| WESTWOOD HOLDINGS GROUP INC 0.43% of their portfolio | 1.4m $57.2m | Added +288.0k |
| DUFF & PHELPS INVESTMENT MANAGEMENT CO 0.67% of their portfolio | 1.4m $56.9m | Reduced -16.3k |
| TD Waterhouse Canada Inc. 0.45% of their portfolio | 1.4m $55.2m | Added +366.1k |
| DIMENSIONAL FUND ADVISORS LP 0.01% of their portfolio | 1.3m $52.0m | Added +123.7k |
| Clearbridge Investments, LLC 0.04% of their portfolio | 1.3m $50.8m | Reduced -10.4k |
| Pictet Asset Management Holding SA 0.05% of their portfolio | 1.2m $47.4m | Added +916.2k |
| WELLINGTON MANAGEMENT GROUP LLP 0.01% of their portfolio | 1.2m $46.4m | Added +370.2k |
| UBS Group AG 0.01% of their portfolio | 1.2m $46.1m | Added +274.6k |
| Fiera Capital Corp 0.15% of their portfolio | 1.0m $42.0m | Reduced -66.5k |
| AGF MANAGEMENT LTD 0.22% of their portfolio | 1.0m $41.6m | Reduced -43.0k |
| MILLENNIUM MANAGEMENT LLC 0.04% of their portfolio | 1.0m $40.6m | Added +1.0m |
| UniSuper Management Pty Ltd 0.42% of their portfolio | 972.9k $56.0m | Unchanged |
| NEUBERGER BERMAN GROUP LLC 0.03% of their portfolio | 968.6k $38.8m | Reduced -41.7k |
| FRANKLIN RESOURCES INC 0.01% of their portfolio | 961.5k $38.5m | Reduced -269.2k |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.04% of their portfolio | 943.7k $37.7m | Added +85.2k |
| Russell Investments Group, Ltd. 0.05% of their portfolio | 943.4k $37.7m | Added +44.9k |
| Blackstone Inc. 0.17% of their portfolio | 942.0k $37.7m | Reduced -3.8m |
| MUFG SECURITIES (CANADA), LTD. 1.23% of their portfolio | 885.8k $35.4m | Reduced -678 |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.01% of their portfolio | 797.3k $31.9m | Reduced -7.8k |
| MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd 3.86% of their portfolio | 759.4k $30.4m | Reduced -12.1k |
| Maryland State Retirement & Pension System 0.70% of their portfolio | 739.2k $29.6m | Added +8.4k |
| HITE Hedge Asset Management LLC 1.79% of their portfolio | 722.1k $28.9m | Added +288.3k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.01% of their portfolio | 700.0k $28.0m | Reduced -12.2k |
| BlackRock, Inc. 0.00% of their portfolio | 699.1k $28.0m | Added +107.4k |
| CANADA LIFE ASSURANCE Co 0.05% of their portfolio | 684.2k $27.4m | Reduced -7.3k |
| Qube Research & Technologies Ltd 0.04% of their portfolio | 638.6k $25.6m | Reduced -182.3k |
| JENNISON ASSOCIATES LLC 0.02% of their portfolio | 623.4k $24.9m | Added +6.4k |
| Hillsdale Investment Management Inc. 1.25% of their portfolio | 615.0k $24.6m | Reduced -674.7k |
| CITADEL ADVISORS LLC 0.02% of their portfolio | 583.4k $23.4m | Added +578.3k |
| Addenda Capital Inc. 1.17% of their portfolio | 548.5k $31.6m | Reduced -56.0k |
| Achmea Investment Management B.V. 0.30% of their portfolio | 518.0k $20.7m | Added +95.2k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 497.0k $19.9m | Added +945 |
| Balyasny Asset Management L.P. 0.05% of their portfolio | 485.4k $19.4m | New |
| NORTHERN TRUST CORP 0.00% of their portfolio | 476.2k $19.1m | Added +50.5k |
| JARISLOWSKY, FRASER Ltd 0.11% of their portfolio | 454.1k $18.2m | Reduced -2.5k |
| GUARDIAN CAPITAL LP 0.71% of their portfolio | 452.6k $18.1m | Reduced -16.5k |
| Catalyst Capital Advisors LLC 0.36% of their portfolio | 445.1k $17.8m | Added +67.8k |
| MILLER HOWARD INVESTMENTS INC /NY 0.56% of their portfolio | 439.0k $17.6m | Reduced -113.1k |
| MONTRUSCO BOLTON INVESTMENTS INC. 0.21% of their portfolio | 405.6k $16.2m | New |
| AVIVA PLC 0.04% of their portfolio | 405.4k $16.2m | Added +58.2k |
| BANK OF NOVA SCOTIA TRUST CO 1.54% of their portfolio | 361.7k $14.5m | Added +24.3k |
| Korea Investment CORP 0.03% of their portfolio | 352.2k $14.1m | Reduced -88.6k |
| RENAISSANCE TECHNOLOGIES LLC 0.02% of their portfolio | 346.1k $13.9m | Added +265.0k |
| State of Tennessee, Department of Treasury 0.05% of their portfolio | 335.5k $13.4m | Added +2.7k |
| ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio | 321.4k $12.9m | Added +12.5k |
| MACQUARIE GROUP LTD 0.02% of their portfolio | 315.9k $18.1m | Added +313.5k |
| Quadrature Capital Ltd 0.28% of their portfolio | 310.0k $12.5m | Reduced -36.4k |
| Harvest Portfolios Group Inc. 0.35% of their portfolio | 294.6k $11.8m | Added +24.1k |
| CIBC Private Wealth Group LLC 0.02% of their portfolio | 279.4k $9.9m | Reduced -5.4k |
| TWO SIGMA INVESTMENTS, LP 0.02% of their portfolio | 279.4k $11.2m | New |
| Triasima Portfolio Management inc. 2.10% of their portfolio | 266.9k $10.7m | Reduced -5.1k |
| FEDERATED HERMES, INC. 0.02% of their portfolio | 259.0k $10.4m | Added +8.9k |
| Beutel, Goodman & Co Ltd. 0.06% of their portfolio | 255.7k $10.2m | New |
| VAN ECK ASSOCIATES CORP 0.01% of their portfolio | 249.0k $10.0m | Added +23.3k |
| FIRST TRUST ADVISORS LP 0.01% of their portfolio | 244.2k $9.8m | Added +82.8k |