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 ($246.4m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $37.61. Options: 13 managers hold calls ($134.4m notional), 11 hold puts ($330.0m).
Trends to Q2 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 |
| Q2 2025 | 407 |
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 | 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 |
| Q2 2025 | 188 | 183 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2024 | $83.3m | $421.5m | 5.06 |
| Q4 2024 | $89.9m | $471.1m | 5.24 |
| Q1 2025 | $146.0m | $266.1m | 1.82 |
| Q2 2025 | $134.4m | $330.0m | 2.46 |
Biggest buyers
| ROYAL BANK OF CANADA | Added | +68.1m |
| GOLDMAN SACHS GROUP INC | Added | +6.3m |
| CIBC Asset Management Inc | Added | +2.4m |
| FIL Ltd | Added | +1.9m |
| MUFG Securities EMEA plc | New | +1.4m |
| NORGES BANK | Added | +1.3m |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | Added | +1.2m |
| AGF MANAGEMENT LTD | Added | +1.1m |
| FIRST TRUST ADVISORS LP | Added | +1.0m |
| BANK OF AMERICA CORP /DE/ | Added | +898.6k |
Biggest sellers
| CANADA PENSION PLAN INVESTMENT BOARD | Reduced | -5.8m |
| Capital World Investors | Reduced | -3.1m |
| CIBC WORLD MARKET INC. | Reduced | -2.2m |
| DEUTSCHE BANK AG\ | Reduced | -2.1m |
| BANK OF MONTREAL /CAN/ | Reduced | -2.0m |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | Reduced | -1.5m |
| MORGAN STANLEY | Reduced | -1.4m |
| Alberta Investment Management Corp | Reduced | -1.1m |
| MILLENNIUM MANAGEMENT LLC | Sold out | -1.0m |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | Reduced | -950.0k |
Biggest calls
| ROYAL BANK OF CANADA | Reduced | $37.0m985.8k shares |
| SIG North Trading, ULC | Added | $22.1m590.1k shares |
| NATIONAL BANK OF CANADA /FI/ | Added | $20.8m5.5k shares |
| TORONTO DOMINION BANK | Reduced | $18.8m501.7k shares |
| D. E. Shaw & Co., Inc. | Unchanged | $12.4m330.0k shares |
| BANK OF AMERICA CORP /DE/ | Unchanged | $9.4m250.0k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $5.6m149.0k shares |
| MILLENNIUM MANAGEMENT LLC | New | $5.1m100.0k shares |
| CITADEL ADVISORS LLC | Reduced | $2.3m61.3k shares |
| GROUP ONE TRADING LLC | Reduced | $525.1k14.0k shares |
Biggest puts
| ROYAL BANK OF CANADA | Added | $141.5m3.8m shares |
| SIG North Trading, ULC | Added | $74.8m2.0m shares |
| TORONTO DOMINION BANK | Added | $73.5m2.0m shares |
| D. E. Shaw & Co., Inc. | Unchanged | $11.9m316.4k shares |
| MILLENNIUM MANAGEMENT LLC | Unchanged | $11.9m232.0k shares |
| BANK OF AMERICA CORP /DE/ | Unchanged | $8.6m230.0k shares |
| NATIONAL BANK OF CANADA /FI/ | Reduced | $7.3m1.9k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $487.6k13.0k shares |
| GROUP ONE TRADING LLC | Added | $150.0k4.0k shares |
| SIMPLEX TRADING, LLC | Added | $37.0k1.0k 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.
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 0.40% of their portfolio | 109.3m $4.1bn | Added +68.1m |
| VANGUARD GROUP INC 0.02% of their portfolio | 26.1m $980.5m | Added +818.5k |
| BANK OF MONTREAL /CAN/ 0.36% of their portfolio | 19.2m $722.6m | Reduced -2.0m |
| FIL Ltd 0.55% of their portfolio | 17.1m $640.3m | Added +1.9m |
| GOLDMAN SACHS GROUP INC 0.08% of their portfolio | 13.4m $503.2m | Added +6.3m |
| MACKENZIE FINANCIAL CORP 0.62% of their portfolio | 12.8m $480.4m | Reduced -529.6k |
| DEUTSCHE BANK AG\ 0.15% of their portfolio | 11.1m $415.2m | Reduced -2.1m |
| CIBC WORLD MARKET INC. 0.92% of their portfolio | 11.0m $414.7m | Reduced -2.2m |
| CIBC Asset Management Inc 0.89% of their portfolio | 7.5m $283.8m | Added +2.4m |
| TD Asset Management Inc 0.23% of their portfolio | 7.3m $273.5m | Added +347.9k |
| NATIONAL BANK OF CANADA /FI/ 0.25% of their portfolio | 6.1m $229.8m | Added +170.9k |
| NORGES BANK 0.03% of their portfolio | 6.1m $229.6m | Added +1.3m |
| BANK OF AMERICA CORP /DE/ 0.02% of their portfolio | 6.1m $228.2m | Added +898.6k |
| SCOTIA CAPITAL INC. 1.01% of their portfolio | 5.7m $214.2m | Added +476.9k |
| ClearBridge Investments Ltd 4.48% of their portfolio | 5.4m $204.4m | Added +29.1k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.17% of their portfolio | 5.2m $193.1m | Added +1.2m |
| GEODE CAPITAL MANAGEMENT, LLC 0.01% of their portfolio | 4.8m $185.0m | Added +805.5k |
| BANK OF NOVA SCOTIA 0.36% of their portfolio | 4.7m $176.1m | Reduced -782.0k |
| Legal & General Group Plc 0.04% of their portfolio | 4.3m $161.7m | Reduced -241.7k |
| MORGAN STANLEY 0.01% of their portfolio | 4.2m $157.8m | Reduced -1.4m |
| Connor, Clark & Lunn Investment Management Ltd. 0.53% of their portfolio | 4.0m $151.7m | Reduced -545.6k |
| TORTOISE CAPITAL ADVISORS, L.L.C. 1.90% of their portfolio | 3.9m $145.3m | Reduced -230.8k |
| TORONTO DOMINION BANK 0.31% of their portfolio | 3.8m $142.4m | Reduced -354.6k |
| JPMORGAN CHASE & CO 0.01% of their portfolio | 3.4m $126.2m | Added +8.6k |
| KAYNE ANDERSON CAPITAL ADVISORS LP 2.80% of their portfolio | 3.2m $120.4m | Reduced -690.5k |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.23% of their portfolio | 3.1m $116.5m | Reduced -223.9k |
| Cardinal Capital Management, Inc. 3.45% of their portfolio | 2.9m $110.2m | Added +12.6k |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.21% of their portfolio | 2.8m $105.2m | Reduced -950.0k |
| Invesco Ltd. 0.02% of their portfolio | 2.8m $104.7m | Added +269.4k |
| Amundi 0.03% of their portfolio | 2.6m $95.8m | Reduced -121.6k |
| CANADA PENSION PLAN INVESTMENT BOARD 0.08% of their portfolio | 2.5m $95.5m | Reduced -5.8m |
| BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 0.53% of their portfolio | 2.4m $91.2m | Added +436.0k |
| DekaBank Deutsche Girozentrale 0.15% of their portfolio | 2.2m $81.5m | Added +4.2k |
| AGF MANAGEMENT LTD 0.37% of their portfolio | 2.2m $81.1m | Added +1.1m |
| HSBC HOLDINGS PLC 0.05% of their portfolio | 2.1m $80.2m | Added +449.9k |
| Nuveen, LLC 0.02% of their portfolio | 2.1m $78.2m | Reduced -6.7k |
| INTACT INVESTMENT MANAGEMENT INC. 2.65% of their portfolio | 2.1m $78.3m | Added +140.4k |
| Recurrent Investment Advisors LLC 5.64% of their portfolio | 1.9m $69.7m | Reduced -131.0k |
| Swiss National Bank 0.04% of their portfolio | 1.8m $66.0m | Added +112.4k |
| Clearbridge Investments, LLC 0.05% of their portfolio | 1.7m $64.3m | Added +446.2k |
| Pictet Asset Management Holding SA 0.07% of their portfolio | 1.7m $64.2m | Added +529.1k |
| CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT 3.85% of their portfolio | 1.7m $63.3m | Reduced -98.3k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio | 1.7m $62.6m | Added +98.5k |
| WESTWOOD HOLDINGS GROUP INC 0.44% of their portfolio | 1.6m $61.1m | Added +201.1k |
| TD Waterhouse Canada Inc. 0.39% of their portfolio | 1.5m $54.9m | Added +61.3k |
| DIMENSIONAL FUND ADVISORS LP 0.01% of their portfolio | 1.4m $54.1m | Added +141.7k |
| Federation des caisses Desjardins du Quebec 0.24% of their portfolio | 1.4m $53.9m | Reduced -91.8k |
| DUFF & PHELPS INVESTMENT MANAGEMENT CO 0.63% of their portfolio | 1.4m $53.5m | Added +5.9k |
| MUFG Securities EMEA plc 2.39% of their portfolio | 1.4m $52.5m | New |
| 1832 Asset Management L.P. 0.08% of their portfolio | 1.3m $47.2m | Reduced -779.0k |
| FIRST TRUST ADVISORS LP 0.04% of their portfolio | 1.2m $46.8m | Added +1.0m |
| UBS Group AG 0.01% of their portfolio | 1.2m $45.7m | Added +65.0k |
| UniSuper Management Pty Ltd 0.41% of their portfolio | 1.2m $61.2m | Added +223.7k |
| FRANKLIN RESOURCES INC 0.01% of their portfolio | 1.2m $43.6m | Added +198.5k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.03% of their portfolio | 1.1m $42.9m | Reduced -1.5m |
| NEUBERGER BERMAN GROUP LLC 0.03% of their portfolio | 1.1m $40.9m | Added +121.3k |
| Hillsdale Investment Management Inc. 1.47% of their portfolio | 1.1m $39.7m | Added +442.3k |
| MUFG SECURITIES (CANADA), LTD. 1.12% of their portfolio | 984.8k $36.9m | Added +99.0k |
| Blackstone Inc. 0.16% of their portfolio | 961.1k $36.1m | Added +19.1k |
| Fiera Capital Corp 0.12% of their portfolio | 953.5k $35.8m | Reduced -95.7k |
| MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd 3.56% of their portfolio | 859.9k $32.3m | Added +100.5k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.01% of their portfolio | 781.9k $29.3m | Reduced -15.3k |
| Qube Research & Technologies Ltd 0.04% of their portfolio | 768.6k $28.8m | Added +130.0k |
| WELLINGTON MANAGEMENT GROUP LLP 0.01% of their portfolio | 761.6k $28.5m | Reduced -398.3k |
| Maryland State Retirement & Pension System 0.58% of their portfolio | 707.4k $26.6m | Reduced -31.8k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.01% of their portfolio | 693.3k $26.0m | Reduced -6.7k |
| CANADA LIFE ASSURANCE Co 0.04% of their portfolio | 693.0k $26.0m | Added +8.8k |
| D. E. Shaw & Co., Inc. 0.03% of their portfolio | 675.5k $25.4m | Added +513.8k |
| BlackRock, Inc. 0.00% of their portfolio | 660.3k $24.8m | Reduced -38.8k |
| Russell Investments Group, Ltd. 0.03% of their portfolio | 647.5k $24.3m | Reduced -295.9k |
| Addenda Capital Inc. 1.15% of their portfolio | 627.9k $32.1m | Added +79.4k |
| JENNISON ASSOCIATES LLC 0.01% of their portfolio | 622.1k $23.4m | Reduced -1.3k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 527.6k $19.8m | Added +30.6k |
| MILLER HOWARD INVESTMENTS INC /NY 0.61% of their portfolio | 508.9k $19.1m | Added +69.9k |
| Achmea Investment Management B.V. 0.24% of their portfolio | 494.2k $18.5m | Reduced -23.8k |
| Alberta Investment Management Corp 0.13% of their portfolio | 454.5k $17.1m | Reduced -1.1m |
| GUARDIAN CAPITAL LP 0.60% of their portfolio | 450.3k $16.9m | Reduced -2.4k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 447.0k $16.8m | Reduced -29.2k |
| Catalyst Capital Advisors LLC 0.34% of their portfolio | 445.1k $16.7m | Unchanged |
| JARISLOWSKY, FRASER Ltd 0.09% of their portfolio | 441.8k $16.6m | Reduced -12.3k |
| AVIVA PLC 0.03% of their portfolio | 434.5k $16.3m | Added +29.1k |
| BANK OF NOVA SCOTIA TRUST CO 1.41% of their portfolio | 383.4k $14.4m | Added +21.6k |
| SIG North Trading, ULC 3.06% of their portfolio | 371.9k $14.0m | Added +146.5k |
| MACQUARIE GROUP LTD 0.02% of their portfolio | 353.0k $18.0m | Added +37.2k |
| HITE Hedge Asset Management LLC 0.76% of their portfolio | 352.6k $13.2m | Reduced -369.5k |
| State of Tennessee, Department of Treasury 0.04% of their portfolio | 335.5k $12.6m | Unchanged |
| ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio | 328.9k $12.3m | Added +7.5k |
| Harvest Portfolios Group Inc. 0.29% of their portfolio | 328.0k $12.3m | Added +33.3k |
| MONTRUSCO BOLTON INVESTMENTS INC. 0.13% of their portfolio | 323.4k $12.1m | Reduced -82.2k |
| JANE STREET GROUP, LLC 0.02% of their portfolio | 320.9k $12.0m | Added +306.1k |
| NICOLA WEALTH MANAGEMENT LTD. 1.07% of their portfolio | 305.4k $11.5m | New |
| Varma Mutual Pension Insurance Co 0.08% of their portfolio | 285.4k $10.7m | Added +41.9k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 281.7k $10.6m | Added +73.3k |
| CIBC Private Wealth Group LLC 0.02% of their portfolio | 274.4k $10.3m | Reduced -5.0k |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.01% of their portfolio | 271.5k $10.2m | Reduced -672.2k |
| VAN ECK ASSOCIATES CORP 0.01% of their portfolio | 270.2k $10.1m | Added +21.2k |
| TWO SIGMA ADVISERS, LP 0.02% of their portfolio | 260.5k $9.8m | Added +153.4k |
| FEDERATED HERMES, INC. 0.02% of their portfolio | 254.8k $9.6m | Reduced -4.2k |
| PJT Investments Corp. 5.10% of their portfolio | 254.6k $9.6m | First filing |
| CIDEL ASSET MANAGEMENT INC 0.55% of their portfolio | 246.5k $9.2m | Added +3.1k |