SOUTH BOW CORP SOBO
COM · Common Stock · CUSIP 83671M105
- SectorEnergy
- IndustryPipe Lines (No Natural Gas)
- 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 ($50.7m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $35.53. Options: 11 managers hold calls ($38.8m notional), 6 hold puts ($7.9m).
Trends to Q2 2026
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q4 2024 | 286 |
| Q1 2025 | 302 |
| Q2 2025 | 290 |
| Q3 2025 | 292 |
| Q4 2025 | 281 |
| Q1 2026 | 301 |
| Q2 2026 | 302 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q1 2025 | 151 | 127 |
| Q2 2025 | 94 | 149 |
| Q3 2025 | 121 | 103 |
| Q4 2025 | 116 | 127 |
| Q1 2026 | 130 | 109 |
| Q2 2026 | 121 | 121 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2025 | $24.9m | $8.0m | 0.32 |
| Q4 2025 | $22.9m | $47.6m | 2.08 |
| Q1 2026 | $46.7m | $10.8m | 0.23 |
| Q2 2026 | $38.8m | $7.9m | 0.20 |
Biggest buyers
| FMR LLC | Added | +12.2m |
| MACKENZIE FINANCIAL CORP | Added | +2.0m |
| AMERICAN CENTURY COMPANIES INC | Added | +1.2m |
| BANK OF AMERICA CORP /DE/ | Added | +763.8k |
| D. E. Shaw & Co., Inc. | Added | +684.2k |
| GOLDMAN SACHS GROUP INC | Added | +372.0k |
| Brookfield Corp /ON/ | Added | +316.7k |
| MORGAN STANLEY | Added | +291.5k |
| BlackRock, Inc. | Added | +286.5k |
| HITE Hedge Asset Management LLC | New | +255.2k |
Biggest sellers
| Capital Research Global Investors | Sold out | -10.3m |
| Capital International Investors | Reduced | -3.5m |
| CANADA PENSION PLAN INVESTMENT BOARD | Reduced | -2.1m |
| ROYAL BANK OF CANADA | Reduced | -1.8m |
| Murchinson Ltd. | Sold out | -1.7m |
| BANK OF MONTREAL /CAN/ | Reduced | -1.0m |
| TD Asset Management Inc | Reduced | -726.8k |
| Alberta Investment Management Corp | Reduced | -530.0k |
| Boston Partners | Reduced | -485.0k |
| JPMORGAN CHASE & CO | Reduced | -327.3k |
Biggest calls
| NATIONAL BANK OF CANADA /FI/ | Added | $8.2m2.3k shares |
| PEAK6 LLC | Unchanged | $7.0m200.0k shares |
| SIG North Trading, ULC | Reduced | $5.4m153.6k shares |
| TORONTO DOMINION BANK | Reduced | $3.8m108.3k shares |
| Twin Tree Management, LP | Reduced | $3.8m107.6k shares |
| SIMPLEX TRADING, LLC | Added | $3.8m106.9k shares |
| JANE STREET GROUP, LLC | Reduced | $2.6m74.0k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $2.4m67.1k shares |
| IMC-Chicago, LLC | New | $1.0m29.4k shares |
| BANK OF MONTREAL /CAN/ | Reduced | $545.5k15.5k shares |
Biggest puts
| D. E. Shaw & Co., Inc. | Unchanged | $2.8m80.0k shares |
| SIG North Trading, ULC | Reduced | $2.2m61.1k shares |
| Twin Tree Management, LP | Unchanged | $1.4m39.0k shares |
| NATIONAL BANK OF CANADA /FI/ | Reduced | $877.0k249 shares |
| CITADEL ADVISORS LLC | Reduced | $433.5k12.3k shares |
| TORONTO DOMINION BANK | Reduced | $211.1k6.0k 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.
| Holder | Stake |
|---|---|
| FMR LLC 13G · institution +5.7 pts · filed 2026-07-08 | 10.5% |
Fell to 5% or below in the last year: Capital International Investors (2.2%, 2026-05-14), GOLDMAN SACHS GROUP INC (1.3%, 2025-11-14)
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 |
|---|---|---|
| FMR LLC 0.03% of their portfolio | 21.9m $771.3m | Added +12.2m |
| ROYAL BANK OF CANADA 0.09% of their portfolio | 14.6m $513.4m | Reduced -1.8m |
| Clearbridge Investments, LLC 0.26% of their portfolio | 8.9m $312.1m | Added +185.2k |
| VANGUARD CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 6.0m $213.1m | Added +80.6k |
| BANK OF MONTREAL /CAN/ 0.07% of their portfolio | 5.6m $195.5m | Reduced -1.0m |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.02% of their portfolio | 5.2m $184.8m | Added +7.5k |
| THORNBURG INVESTMENT MANAGEMENT INC 1.25% of their portfolio | 3.7m $131.0m | Added +88.5k |
| CIBC WORLD MARKET INC. 0.20% of their portfolio | 3.4m $119.8m | Reduced -35.4k |
| DIMENSIONAL FUND ADVISORS LP 0.02% of their portfolio | 3.0m $107.2m | Added +128.4k |
| Connor, Clark & Lunn Investment Management Ltd. 0.19% of their portfolio | 2.8m $97.8m | Reduced -13.6k |
| BANK OF AMERICA CORP /DE/ 0.01% of their portfolio | 2.8m $97.2m | Added +763.8k |
| MACKENZIE FINANCIAL CORP 0.13% of their portfolio | 2.5m $126.7m | Added +2.0m |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.09% of their portfolio | 2.2m $76.0m | Reduced -76.7k |
| AMERICAN CENTURY COMPANIES INC 0.03% of their portfolio | 2.1m $75.1m | Added +1.2m |
| TD Waterhouse Canada Inc. 0.18% of their portfolio | 1.9m $67.1m | Added +16.1k |
| VANGUARD FIDUCIARY TRUST CO 0.01% of their portfolio | 1.8m $65.0m | Added +21.8k |
| Legal & General Group Plc 0.01% of their portfolio | 1.8m $62.8m | Added +23.6k |
| GOLDMAN SACHS GROUP INC 0.01% of their portfolio | 1.8m $62.8m | Added +372.0k |
| SCOTIA CAPITAL INC. 0.23% of their portfolio | 1.8m $61.7m | Reduced -35.4k |
| TD Asset Management Inc 0.05% of their portfolio | 1.6m $58.0m | Reduced -726.8k |
| MORGAN STANLEY 0.00% of their portfolio | 1.6m $57.3m | Added +291.5k |
| Vanguard Global Advisers, LLC 0.02% of their portfolio | 1.4m $49.5m | Added +135.0k |
| Invesco Ltd. 0.00% of their portfolio | 1.3m $45.4m | Reduced -233.7k |
| TWO SIGMA INVESTMENTS, LP 0.03% of their portfolio | 1.2m $43.1m | Reduced -166.4k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.03% of their portfolio | 1.2m $41.2m | Reduced -122.0k |
| Recurrent Investment Advisors LLC 2.53% of their portfolio | 1.2m $40.8m | Reduced -2.3k |
| BARCLAYS PLC 0.01% of their portfolio | 1.1m $39.8m | Added +193.4k |
| D. E. Shaw & Co., Inc. 0.02% of their portfolio | 1.1m $39.7m | Added +684.2k |
| INTACT INVESTMENT MANAGEMENT INC. 1.02% of their portfolio | 1.0m $35.8m | Reduced -50.0k |
| WESTWOOD HOLDINGS GROUP INC 0.27% of their portfolio | 1.0m $35.4m | Reduced -187.3k |
| TORONTO DOMINION BANK 0.06% of their portfolio | 999.8k $35.2m | Reduced -115.3k |
| PORTLAND INVESTMENT COUNSEL INC. 9.37% of their portfolio | 951.8k $33.5m | Reduced -18.2k |
| TORTOISE CAPITAL ADVISORS, L.L.C. 0.34% of their portfolio | 943.6k $33.3m | Reduced -16.5k |
| CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT 1.35% of their portfolio | 855.5k $30.1m | Reduced -10.0k |
| Capital International Investors 0.01% of their portfolio | 854.5k $30.1m | Reduced -3.5m |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 849.4k $33.0m | Reduced -29.8k |
| Brookfield Corp /ON/ 0.04% of their portfolio | 833.9k $29.4m | Added +316.7k |
| NORGES BANK 0.00% of their portfolio | 759.4k $26.7m | Not comparable |
| Boston Partners 0.02% of their portfolio | 753.9k $26.8m | Reduced -485.0k |
| Blackstone Inc. 0.08% of their portfolio | 666.5k $23.5m | Reduced -30.7k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 540.9k $19.0m | Added +56.5k |
| NATIONAL BANK OF CANADA /FI/ 0.02% of their portfolio | 536.1k $18.7m | Added +44.6k |
| MILLER HOWARD INVESTMENTS INC /NY 0.46% of their portfolio | 496.9k $17.5m | Reduced -30.9k |
| BlackRock, Inc. 0.00% of their portfolio | 486.6k $17.1m | Added +286.5k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 442.8k $15.9m | Reduced -327.3k |
| Swiss National Bank 0.01% of their portfolio | 420.5k $14.8m | Added +8.2k |
| CIBC Asset Management Inc 0.03% of their portfolio | 379.6k $13.3m | Added +39.5k |
| Heathbridge Capital Management Ltd. 4.06% of their portfolio | 338.0k $11.9m | Added +800 |
| CITADEL ADVISORS LLC 0.01% of their portfolio | 318.5k $11.2m | Reduced -84.1k |
| JANE STREET GROUP, LLC 0.01% of their portfolio | 305.1k $10.7m | Added +148.8k |
| Federation des caisses Desjardins du Quebec 0.03% of their portfolio | 299.1k $10.5m | Reduced -8.1k |
| FIL Ltd 0.01% of their portfolio | 293.6k $10.3m | Unchanged |
| UBS Group AG 0.00% of their portfolio | 263.5k $9.3m | Added +93.8k |
| BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 0.06% of their portfolio | 257.0k $9.0m | Added +79.0k |
| HITE Hedge Asset Management LLC 0.49% of their portfolio | 255.2k $9.0m | New |
| BANK OF NOVA SCOTIA 0.01% of their portfolio | 235.5k $8.3m | Added +12.6k |
| Maryland State Retirement & Pension System 0.14% of their portfolio | 224.8k $7.9m | Reduced -30.4k |
| Qube Research & Technologies Ltd 0.01% of their portfolio | 220.4k $7.8m | New |
| Alberta Investment Management Corp 0.04% of their portfolio | 212.9k $7.5m | Reduced -530.0k |
| Trexquant Investment LP 0.04% of their portfolio | 205.1k $7.2m | New |
| EXCHANGE TRADED CONCEPTS, LLC 0.04% of their portfolio | 205.0k $7.2m | Reduced -9.8k |
| Treasurer of the State of North Carolina 0.02% of their portfolio | 196.2k $6.9m | New |
| Ruffer LLP 0.22% of their portfolio | 179.9k $6.3m | New |
| VANGUARD ASSET MANAGEMENT, Ltd 0.00% of their portfolio | 178.8k $6.3m | Added +21.0k |
| Purpose Unlimited Inc. 0.24% of their portfolio | 177.8k $6.3m | Reduced -18.0k |
| Ninepoint Partners LP 0.55% of their portfolio | 175.0k $6.2m | Reduced -75.0k |
| VIEWPOINT INVESTMENT PARTNERS CORP 1.82% of their portfolio | 159.5k $5.3m | Added +4 |
| Vanguard Investments Australia, Ltd. 0.01% of their portfolio | 159.3k $5.6m | Added +2.8k |
| VAN ECK ASSOCIATES CORP 0.00% of their portfolio | 158.3k $5.6m | Reduced -19.5k |
| FRANKLIN RESOURCES INC 0.00% of their portfolio | 154.6k $5.4m | Reduced -12.9k |
| CANADA PENSION PLAN INVESTMENT BOARD 0.00% of their portfolio | 154.4k $5.4m | Reduced -2.1m |
| Nuveen, LLC 0.00% of their portfolio | 151.3k $5.3m | Reduced -4.4k |
| BCV Asset Management Inc. 0.15% of their portfolio | 141.5k $5.1m | Added +7.9k |
| HRT FINANCIAL LP 0.01% of their portfolio | 140.7k $5.0m | Added +58.4k |
| TCW GROUP INC 0.03% of their portfolio | 128.1k $4.5m | Added +3.0k |
| Triasima Portfolio Management inc. 0.60% of their portfolio | 127.2k $4.5m | Added +13.7k |
| Moors & Cabot, Inc. 0.17% of their portfolio | 126.8k $4.5m | Reduced -191 |
| Man Group plc 0.01% of their portfolio | 124.7k $4.4m | Reduced -112.1k |
| 1832 Asset Management L.P. 0.01% of their portfolio | 116.3k $4.1m | Added +910 |
| Catalyst Capital Advisors LLC 0.07% of their portfolio | 114.6k $4.0m | Reduced -7.0k |
| MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio | 111.8k $3.9m | Reduced -110.5k |
| Capital World Investors 0.00% of their portfolio | 105.4k $3.7m | Reduced -4.1k |
| XTX Topco Ltd 0.04% of their portfolio | 98.2k $3.5m | New |
| NORTHERN TRUST CORP 0.00% of their portfolio | 93.1k $3.3m | Reduced -2.2k |
| Ausbil Investment Management Ltd 1.48% of their portfolio | 92.8k $3.3m | Reduced -13.7k |
| &PARTNERS 0.01% of their portfolio | 91.7k $3.2m | Added +5.0k |
| ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio | 89.1k $3.1m | Added +5.7k |
| RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio | 76.7k $2.7m | Added +41.8k |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.01% of their portfolio | 73.9k $2.6m | Added +7.2k |
| Schonfeld Strategic Advisors LLC 0.01% of their portfolio | 71.4k $2.5m | Added +28.0k |
| Russell Investments Group, Ltd. 0.00% of their portfolio | 71.3k $2.5m | Reduced -11.6k |
| COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio | 71.0k $2.5m | Reduced -424 |
| Amundi 0.00% of their portfolio | 70.9k $2.5m | Added +62.0k |
| LAZARD ASSET MANAGEMENT LLC 0.00% of their portfolio | 64.0k $2.3m | Reduced -156 |
| CITIGROUP INC 0.00% of their portfolio | 63.5k $2.2m | Added +54.1k |
| Numerai GP LLC 0.18% of their portfolio | 63.3k $2.2m | Added +43.1k |
| FIRST TRUST ADVISORS LP 0.00% of their portfolio | 61.8k $2.2m | Added +33.4k |
| SIG North Trading, ULC 0.39% of their portfolio | 61.2k $2.2m | Reduced -76.0k |
| RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio | 55.9k $2.0m | Added +495 |
| Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio | 53.7k $1.9m | Unchanged |