TRANSALTA CORP TAC
COM · Common Stock · CUSIP 89346D107 · ISIN CA89346D1078
Global electricity generation company
- SectorUtilities
- IndustryElectric Services
- HeadquartersCalgary, Canada
- Founded1909
- Websitetransalta.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 ($85.0m this quarter). Holder counts are more reliable. Shares outstanding: 296.7m as of 2025-12-31, 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 ≈ $12.65. Options: 15 managers hold calls ($37.8m notional), 11 hold puts ($24.3m).
Trends to Q4 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 103 |
| Q4 2022 | 111 |
| Q1 2023 | 111 |
| Q2 2023 | 128 |
| Q3 2023 | 124 |
| Q4 2023 | 137 |
| Q1 2024 | 139 |
| Q2 2024 | 142 |
| Q3 2024 | 157 |
| Q4 2024 | 185 |
| Q1 2025 | 163 |
| Q2 2025 | 169 |
| Q3 2025 | 161 |
| Q4 2025 | 172 |
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 2024 | 82 | 57 |
| Q2 2024 | 84 | 63 |
| Q3 2024 | 92 | 65 |
| Q4 2024 | 92 | 81 |
| Q1 2025 | 92 | 100 |
| Q2 2025 | 79 | 90 |
| Q3 2025 | 83 | 85 |
| Q4 2025 | 85 | 82 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q1 2025 | $57.9m | $4.7m | 0.08 |
| Q2 2025 | $40.5m | $13.5m | 0.33 |
| Q3 2025 | $42.1m | $13.5m | 0.32 |
| Q4 2025 | $37.8m | $24.3m | 0.64 |
Biggest buyers
| BANK OF AMERICA CORP /DE/ | Added | +3.8m |
| AMERICAN CENTURY COMPANIES INC | Added | +3.1m |
| Sculptor Capital LP | New | +3.0m |
| BANK OF MONTREAL /CAN/ | Added | +2.9m |
| Rubric Capital Management LP | Added | +1.8m |
| Man Group plc | Added | +1.3m |
| FMR LLC | Added | +1.1m |
| CITADEL ADVISORS LLC | Added | +1.1m |
| Point72 Asset Management, L.P. | New | +996.8k |
| Arvin Capital Management LP | Added | +712.1k |
Biggest sellers
| ROYAL BANK OF CANADA | Reduced | -9.0m |
| MILLENNIUM MANAGEMENT LLC | Reduced | -4.6m |
| MORGAN STANLEY | Reduced | -4.6m |
| Aventail Capital Group, LP | Sold out | -2.8m |
| GOLDMAN SACHS GROUP INC | Reduced | -1.8m |
| UBS Group AG | Reduced | -1.1m |
| MACKENZIE FINANCIAL CORP | Reduced | -848.7k |
| Potrero Capital Research LLC | Reduced | -794.4k |
| Value Aligned Research Advisors, LLC | Sold out | -745.0k |
| Jain Global LLC | Sold out | -619.0k |
Biggest calls
| SIG North Trading, ULC | Added | $10.9m865.7k shares |
| JANE STREET GROUP, LLC | Added | $5.8m457.5k shares |
| Arvin Capital Management LP | Reduced | $5.1m402.2k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $4.3m338.4k shares |
| GROUP ONE TRADING LLC | Added | $3.4m265.8k shares |
| IMC-Chicago, LLC | New | $2.0m161.6k shares |
| SIMPLEX TRADING, LLC | Added | $1.9m147.8k shares |
| PEAK6 LLC | Reduced | $1.5m122.2k shares |
| CITADEL ADVISORS LLC | Added | $972.0k76.9k shares |
| OnyxPoint Global Management LP | New | $695.7k55.0k shares |
Biggest puts
| MILLENNIUM MANAGEMENT LLC | Unchanged | $6.9m400.0k shares |
| SIG North Trading, ULC | Added | $5.7m448.6k shares |
| ROYAL BANK OF CANADA | Added | $4.4m352.0k shares |
| CITADEL ADVISORS LLC | Added | $3.6m282.5k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $2.2m174.1k shares |
| GROUP ONE TRADING LLC | Added | $657.3k52.0k shares |
| SIMPLEX TRADING, LLC | Added | $297.0k23.5k shares |
| IMC-Chicago, LLC | New | $245.2k19.4k shares |
| JANE STREET GROUP, LLC | New | $151.7k12.0k shares |
| TORONTO DOMINION BANK | Reduced | $101.2k8.0k 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 |
|---|---|
BROOKFIELD Corp /ON/
13D · may seek influence
filed 2025-01-08
Stated purposeItem 4 of the original Schedule 13D is hereby supplemented as follows: The Purchaser Reporting Persons disposed of an aggregate 8,600,000 Common Shares in a block trade pursuant to Regulation S under the U.S. Securities Act of 1933, as amended, for aggregate cash proceeds of approximately C$168,990,000 (excluding brokerage commission), at a price of C$19.65 per Common Share. The disposition of the Common Shares reported in this Amendment No. 6 more closely aligns the Reporting Persons' aggregate share ownership with certain thresholds under the Investment Agreement. Although the Reporting Persons have no current specific plan or proposal for further dispositions of the Common Shares, the Reporting Persons also may, at any time and from time to time, subject to compliance at all relevant … Full filing |
9.0% |
| ROYAL BANK OF CANADA 13G · institution -1.0 pts · filed 2026-02-13 | 7.7% |
| BANK OF MONTREAL /CAN/ 13G · institution new · filed 2026-05-13 | 6.0% |
| Rubric Capital Management LP 13G · institution new · filed 2025-07-09 | 5.4% |
Fell to 5% or below in the last year: FMR LLC (4.6%, 2026-05-06), MILLENNIUM MANAGEMENT LLC (4.4%, 2025-11-14), GOLDMAN SACHS GROUP INC (2.4%, 2025-11-13)
Insider purchases and sales in Q4 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 Q4 2025.
Holders, Q4 2025
| Manager | Shares | Change |
|---|---|---|
| Brookfield Corp /ON/ 0.42% of their portfolio | 26.9m $340.6m | Added +5.2k |
| ROYAL BANK OF CANADA 0.06% of their portfolio | 25.8m $325.5m | Reduced -9.0m |
| FMR LLC 0.02% of their portfolio | 23.7m $299.8m | Added +1.1m |
| Rubric Capital Management LP 2.69% of their portfolio | 17.8m $224.8m | Added +1.8m |
| BANK OF MONTREAL /CAN/ 0.07% of their portfolio | 13.3m $168.2m | Added +2.9m |
| VANGUARD GROUP INC 0.00% of their portfolio | 11.1m $140.7m | Added +174.4k |
| BANK OF AMERICA CORP /DE/ 0.01% of their portfolio | 11.0m $139.3m | Added +3.8m |
| MILLENNIUM MANAGEMENT LLC 0.08% of their portfolio | 8.5m $107.2m | Reduced -4.6m |
| OAKTREE CAPITAL MANAGEMENT LP 1.32% of their portfolio | 6.4m $81.2m | Unchanged |
| AMERICAN CENTURY COMPANIES INC 0.04% of their portfolio | 6.1m $76.7m | Added +3.1m |
| GOLDMAN SACHS GROUP INC 0.01% of their portfolio | 4.9m $61.9m | Reduced -1.8m |
| Arvin Capital Management LP 10.40% of their portfolio | 3.8m $48.3m | Added +712.1k |
| MACKENZIE FINANCIAL CORP 0.05% of their portfolio | 3.6m $45.7m | Reduced -848.7k |
| NORGES BANK 0.00% of their portfolio | 3.6m $45.3m | Not comparable |
| MORGAN STANLEY 0.00% of their portfolio | 3.5m $44.2m | Reduced -4.6m |
| UBS Group AG 0.01% of their portfolio | 3.1m $38.6m | Reduced -1.1m |
| Sculptor Capital LP 0.45% of their portfolio | 3.0m $38.0m | New |
| TORONTO DOMINION BANK 0.06% of their portfolio | 2.6m $32.5m | Reduced -209.3k |
| Rokos Capital Management LLP 0.43% of their portfolio | 2.3m $29.0m | Reduced -467.4k |
| Man Group plc 0.05% of their portfolio | 2.1m $26.5m | Added +1.3m |
| CITADEL ADVISORS LLC 0.02% of their portfolio | 2.0m $25.6m | Added +1.1m |
| Artemis Investment Management LLP 0.28% of their portfolio | 1.8m $23.0m | Added +463.3k |
| Potrero Capital Research LLC 7.34% of their portfolio | 1.7m $21.8m | Reduced -794.4k |
| CIBC WORLD MARKET INC. 0.04% of their portfolio | 1.6m $19.9m | Added +91.1k |
| DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio | 1.5m $19.4m | Added +97.1k |
| NATIONAL BANK OF CANADA /FI/ 0.02% of their portfolio | 1.4m $17.9m | Reduced -149.7k |
| Yaupon Capital Management LP 0.80% of their portfolio | 1.3m $16.3m | Reduced -103.2k |
| RENAISSANCE TECHNOLOGIES LLC 0.02% of their portfolio | 1.2m $15.3m | Added +181.0k |
| STATE STREET CORP 0.00% of their portfolio | 1.2m $15.0m | Reduced -52.5k |
| BANK OF NOVA SCOTIA 0.02% of their portfolio | 1.1m $13.7m | Reduced -152.5k |
| Point72 Asset Management, L.P. 0.02% of their portfolio | 996.8k $12.6m | New |
| BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio | 993.2k $12.6m | Reduced -508.8k |
| Connor, Clark & Lunn Investment Management Ltd. 0.03% of their portfolio | 979.7k $12.4m | Added +12.6k |
| TD Asset Management Inc 0.01% of their portfolio | 909.4k $11.5m | Added +31.7k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 894.1k $11.3m | Reduced -4.1k |
| WESTERLY CAPITAL MANAGEMENT, LLC 3.06% of their portfolio | 805.0k $10.2m | Reduced -95.0k |
| FIRST MANHATTAN CO. LLC. 0.03% of their portfolio | 793.2k $10.1m | Reduced -62.8k |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.01% of their portfolio | 700.0k $8.9m | New |
| Clayton Partners LLC 5.75% of their portfolio | 629.6k $8.0m | Reduced -64.0k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 595.0k $7.5m | Added +394.4k |
| JANE STREET GROUP, LLC 0.01% of their portfolio | 558.9k $7.1m | Added +50.6k |
| Swiss National Bank 0.00% of their portfolio | 557.7k $7.1m | Added +13.2k |
| Federation des caisses Desjardins du Quebec 0.03% of their portfolio | 535.8k $6.8m | Reduced -242.1k |
| Invesco Ltd. 0.00% of their portfolio | 534.7k $6.8m | Reduced -192.8k |
| Purpose Unlimited Inc. 0.29% of their portfolio | 509.3k $6.4m | First filing |
| INTACT INVESTMENT MANAGEMENT INC. 0.16% of their portfolio | 428.8k $5.4m | Reduced -151.2k |
| Qube Research & Technologies Ltd 0.01% of their portfolio | 426.4k $5.4m | Added +385.2k |
| CITIGROUP INC 0.00% of their portfolio | 404.7k $5.1m | Added +349.3k |
| TUDOR INVESTMENT CORP ET AL 0.03% of their portfolio | 404.4k $5.1m | Added +390.6k |
| BlueCrest Capital Management Ltd 0.19% of their portfolio | 393.9k $5.0m | New |
| CenterBook Partners LP 0.23% of their portfolio | 377.9k $4.8m | Added +302.6k |
| Legal & General Group Plc 0.00% of their portfolio | 288.9k $3.7m | Reduced -19.2k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio | 285.8k $3.6m | Reduced -15.7k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 276.0k $3.5m | Reduced -129.0k |
| BlackRock, Inc. 0.00% of their portfolio | 274.8k $3.5m | Reduced -40.2k |
| Y-Intercept (Hong Kong) Ltd 0.08% of their portfolio | 270.8k $3.4m | New |
| SCOTIA CAPITAL INC. 0.01% of their portfolio | 246.6k $3.1m | Added +26.6k |
| CIBC Asset Management Inc 0.01% of their portfolio | 246.1k $3.1m | Reduced -6.0k |
| VAN LANSCHOT KEMPEN INVESTMENT MANAGEMENT N.V. 0.04% of their portfolio | 244.9k $4.3m | Added +20.4k |
| Verition Fund Management LLC 0.02% of their portfolio | 227.1k $2.9m | Added +151.6k |
| D. E. Shaw & Co., Inc. 0.00% of their portfolio | 220.2k $2.8m | Reduced -212.9k |
| Nuveen, LLC 0.00% of their portfolio | 213.0k $2.7m | Unchanged |
| Hudson Bay Capital Management LP 0.02% of their portfolio | 211.6k $2.7m | New |
| Tacita Capital Inc 1.53% of their portfolio | 208.3k $2.6m | Reduced -11.0k |
| SONA ASSET MANAGEMENT (US) LLC 0.08% of their portfolio | 200.0k $2.5m | Unchanged |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 189.6k $2.5m | Added +25.3k |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.00% of their portfolio | 187.8k $2.4m | New |
| BTG Pactual Asset Management US LLC 0.26% of their portfolio | 187.0k $2.4m | Added +135.5k |
| ARDSLEY ADVISORY PARTNERS LP 0.29% of their portfolio | 180.0k $2.3m | Added +65.0k |
| Cardinal Point Capital Management ULC 0.14% of their portfolio | 168.4k $2.1m | Added +3.8k |
| SIG North Trading, ULC 0.33% of their portfolio | 149.9k $1.9m | Added +34.4k |
| Massar Capital Management, LP 0.35% of their portfolio | 140.7k $1.8m | New |
| BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 0.01% of their portfolio | 140.2k $1.8m | Reduced -13.6k |
| Heronetta Management, L.P. 1.22% of their portfolio | 122.0k $2.1m | Unchanged |
| Rathbones Group PLC 0.00% of their portfolio | 114.0k $1.4m | Added +57.0k |
| JANUS HENDERSON GROUP PLC 0.00% of their portfolio | 104.3k $1.3m | Unchanged |
| Mariner, LLC 0.00% of their portfolio | 102.8k $1.3m | Added +12.3k |
| Capital Innovations LLC 0.36% of their portfolio | 99.6k $1.3m | First filing |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.00% of their portfolio | 92.3k $1.2m | Reduced -15.9k |
| Campbell & CO Investment Adviser LLC 0.05% of their portfolio | 88.6k $1.1m | New |
| Schonfeld Strategic Advisors LLC 0.01% of their portfolio | 81.0k $1.0m | New |
| Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio | 79.8k $1.0m | Added +1.9k |
| Lombard Odier Asset Management (USA) Corp 0.38% of their portfolio | 74.6k $944.3k | Reduced -96.4k |
| Guardian Partners Inc. 0.07% of their portfolio | 72.1k $903.0k | Reduced -953 |
| Vident Advisory, LLC 0.01% of their portfolio | 71.7k $906.3k | Reduced -4.7k |
| Trexquant Investment LP 0.01% of their portfolio | 69.0k $872.2k | Reduced -205.0k |
| BESSEMER GROUP INC 0.00% of their portfolio | 68.3k $864.0k | Unchanged |
| RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio | 65.2k $823.9k | Added +2.7k |
| FRANKLIN RESOURCES INC 0.00% of their portfolio | 57.3k $724.2k | Added +39.1k |
| Bridgewater Associates, LP 0.00% of their portfolio | 56.2k $711.1k | Reduced -35.2k |
| Creative Planning 0.00% of their portfolio | 51.2k $647.1k | Reduced -1.1k |
| FOX RUN MANAGEMENT, L.L.C. 0.10% of their portfolio | 51.1k $645.6k | New |
| Pictet Asset Management Holding SA 0.00% of their portfolio | 48.9k $619.6k | Added +893 |
| TD Waterhouse Canada Inc. 0.00% of their portfolio | 48.1k $607.5k | Reduced -7.3k |
| Clear Harbor Asset Management, LLC 0.04% of their portfolio | 47.9k $605.5k | Added +500 |
| Claret Asset Management Corp 0.07% of their portfolio | 47.4k $599.0k | Reduced -210 |
| Hennion & Walsh Asset Management, Inc. 0.02% of their portfolio | 45.9k $580.1k | Reduced -845 |
| VAN ECK ASSOCIATES CORP 0.00% of their portfolio | 44.8k $567.0k | Reduced -13.4k |
| Mitsubishi UFJ Trust & Banking Corp 0.00% of their portfolio | 41.3k $516.1k | Reduced -72.2k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 40.6k $512.6k | Reduced -250.9k |