Who owns AQN (AQN)
Which tracked institutional funds hold AQN, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See AQN company fundamentals →
Ownership as of the 2026-Q1 13F filings. 13F is disclosed up to 45 days after quarter-end, so the most recent quarter fills in over the following weeks.
How the tape is positioned
57 tracked funds added or opened AQN while 58 trimmed or exited it between 2025-Q4 and 2026-Q1 — the tape is split. When large holders disagree on a name, the funds moving first are sometimes ahead of the story.
A prompt to read the filings, not a verdict. 13F is a quarter-end snapshot disclosed up to 45 days late; a fund adds or exits for mandate, benchmark, and timing reasons that have nothing to do with a view on the stock. This is a starting question, not a signal to trade.
Conviction spread
AQN’s largest tracked holder by dollar value, EdgePoint Investment Group Inc., sizes it at 4.0% of its own reported 13F book, while the median holder sizes it at 0.0% of theirs — a 4.0pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in AQN divided by its whole reported 13F book, so it is comparable across funds of different sizes and is unaffected by stock splits. A higher share means a fund has committed more of its book to the name — a starting question about conviction, not a verdict or a signal to trade.
Institutional & insider positioning
Between 2025-Q4 and 2026-Q1, across 249 tracked filers holding AQN, 127 increased or opened the position and 112 reduced or closed it; over the same quarter, there were no open-market insider Form 4s.
This fuses two public signals for the same quarter — how tracked institutions changed their positions and whether insiders bought or sold in the open market. It describes what was filed; it is a starting question, not a verdict or a signal to trade.
New buyers & exits
Funds opening or closing a position in AQN between the 2025-Q4 and 2026-Q1 13F filings, and the largest changes among funds holding it in both. New buyers and exits are counted on fund presence (split-invariant); adds and trims are measured on reported value.
New buyers 15
- VANGUARD CAPITAL MANAGEMENT LLC$137M
- Clearbridge Investments, LLC$79M
- Mitsubishi UFJ Trust & Banking Corp$77M
- VANGUARD FIDUCIARY TRUST CO$42M
- Vanguard Global Advisers, LLC$29M
- PRICE T ROWE ASSOCIATES INC /MD/$13M
Full exits 14
- VANGUARD GROUP INC$205M
- Corvex Management LP$38M
- Callodine Capital Management, LP$35M
- MANNING & NAPIER ADVISORS LLC$8M
- Y-Intercept (Hong Kong) Ltd$5M
- Yaupon Capital Management LP$5M
Largest adds
- ARIEL INVESTMENTS, LLC$23M
- CIBC Asset Management Inc$22M
- ARROWSTREET CAPITAL, LIMITED PARTNERSHIP$21M
- NEUBERGER BERMAN GROUP LLC$20M
- Man Group plc$18M
- MORGAN STANLEY$18M
Largest trims
- FIL Ltd$68M
- Starboard Value LP$39M
- NORGES BANK$31M
- TORONTO DOMINION BANK$29M
- Packer & Co Ltd$26M
- BlackRock, Inc.$21M
Institutional holders
One row per tracked fund, largest reported value first. “% of value” is the fund’s share of this security’s tracked institutional value — not of shares outstanding. Rows marked stale are from an earlier filing than the security’s latest quarter — that fund is absent from the newest snapshot (position exited, or reported under a different name).
| Fund | Shares | Reported value | % of value | Quarter |
|---|---|---|---|---|
| EdgePoint Investment Group Inc. trimmed | 81,472,394 | $499M | 14.1% | 2026-Q1 |
| Starboard Value LP trimmed | 57,189,420 | $351M | 9.9% | 2026-Q1 |
| FIL Ltd trimmed | 38,114,903 | $233M | 6.6% | 2026-Q1 |
| VANGUARD CAPITAL MANAGEMENT LLC new | 22,377,986 | $137M | 3.9% | 2026-Q1 |
| ROYAL BANK OF CANADA added | 20,554,242 | $126M | 3.6% | 2026-Q1 |
| BANK OF MONTREAL /CAN/ trimmed | 20,155,570 | $123M | 3.5% | 2026-Q1 |
| ARIEL INVESTMENTS, LLC added | 19,641,661 | $121M | 3.4% | 2026-Q1 |
| PRINCIPAL FINANCIAL GROUP INC added | 13,633,904 | $83M | 2.4% | 2026-Q1 |
| BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp added | 13,311,265 | $82M | 2.3% | 2026-Q1 |
| Clearbridge Investments, LLC new | 12,836,835 | $79M | 2.2% | 2026-Q1 |
| Mitsubishi UFJ Trust & Banking Corp added | 12,651,307 | $77M | 2.2% | 2026-Q1 |
| BANK OF NOVA SCOTIA trimmed | 7,931,452 | $49M | 1.4% | 2026-Q1 |
| GOLDMAN SACHS GROUP INC added | 7,788,548 | $48M | 1.4% | 2026-Q1 |
| NEUBERGER BERMAN GROUP LLC added | 7,734,900 | $48M | 1.3% | 2026-Q1 |
| DIMENSIONAL FUND ADVISORS LP added | 7,716,896 | $47M | 1.3% | 2026-Q1 |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP added | 7,321,263 | $45M | 1.3% | 2026-Q1 |
| MORGAN STANLEY added | 7,092,601 | $44M | 1.2% | 2026-Q1 |
| VANGUARD FIDUCIARY TRUST CO new | 6,777,456 | $42M | 1.2% | 2026-Q1 |
| Legal & General Group Plc trimmed | 6,576,426 | $40M | 1.1% | 2026-Q1 |
| PRIVATE MANAGEMENT GROUP INC trimmed | 6,361,329 | $39M | 1.1% | 2026-Q1 |
| NORGES BANK trimmed | 7,082,889 | $36M | 1.0% | 2026-Q1 |
| FIRST TRUST ADVISORS LP trimmed | 5,620,856 | $35M | 1.0% | 2026-Q1 |
| NATIONAL BANK OF CANADA /FI/ added | 5,602,897 | $34M | 1.0% | 2026-Q1 |
| PICTON MAHONEY ASSET MANAGEMENT added | 4,880,746 | $30M | 0.8% | 2026-Q1 |
| Man Group plc added | 4,832,294 | $30M | 0.8% | 2026-Q1 |
| Vanguard Global Advisers, LLC new | 4,724,721 | $29M | 0.8% | 2026-Q1 |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE added | 4,465,539 | $27M | 0.8% | 2026-Q1 |
| CIBC Asset Management Inc added | 4,247,631 | $26M | 0.7% | 2026-Q1 |
| TORONTO DOMINION BANK trimmed | 3,749,334 | $23M | 0.6% | 2026-Q1 |
| BANK OF AMERICA CORP /DE/ added | 3,556,090 | $22M | 0.6% | 2026-Q1 |
| CIDEL ASSET MANAGEMENT INC added | 3,535,918 | $22M | 0.6% | 2026-Q1 |
| D. E. Shaw & Co., Inc. trimmed | 3,402,158 | $21M | 0.6% | 2026-Q1 |
| INTACT INVESTMENT MANAGEMENT INC. trimmed | 3,302,119 | $20M | 0.6% | 2026-Q1 |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO added | 3,204,025 | $20M | 0.6% | 2026-Q1 |
| GAMCO INVESTORS, INC. ET AL trimmed | 3,201,444 | $20M | 0.6% | 2026-Q1 |
| Connor, Clark & Lunn Investment Management Ltd. trimmed | 2,983,176 | $18M | 0.5% | 2026-Q1 |
| JPMORGAN CHASE & CO added | 2,926,467 | $18M | 0.5% | 2026-Q1 |
| Federation des caisses Desjardins du Quebec trimmed | 2,890,705 | $18M | 0.5% | 2026-Q1 |
| Invesco Ltd. trimmed | 2,771,874 | $17M | 0.5% | 2026-Q1 |
| CIBC WORLD MARKET INC. trimmed | 2,683,861 | $16M | 0.5% | 2026-Q1 |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC trimmed | 2,675,980 | $16M | 0.5% | 2026-Q1 |
| Russell Investments Group, Ltd. added | 2,671,548 | $16M | 0.5% | 2026-Q1 |
| TD Asset Management Inc added | 2,568,896 | $16M | 0.4% | 2026-Q1 |
| STATE STREET CORP trimmed | 2,494,900 | $15M | 0.4% | 2026-Q1 |
| Alberta Investment Management Corp trimmed | 2,377,140 | $15M | 0.4% | 2026-Q1 |
| UBS Group AG added | 2,318,658 | $14M | 0.4% | 2026-Q1 |
| RWC Asset Management LLP trimmed | 2,231,500 | $14M | 0.4% | 2026-Q1 |
| PRICE T ROWE ASSOCIATES INC /MD/ new | 2,180,803 | $13M | 0.4% | 2026-Q1 |
| GABELLI FUNDS LLC trimmed | 2,170,595 | $13M | 0.4% | 2026-Q1 |
| JUPITER ASSET MANAGEMENT LTD added | 2,019,617 | $12M | 0.3% | 2026-Q1 |
| Qube Research & Technologies Ltd trimmed | 1,991,887 | $12M | 0.3% | 2026-Q1 |
| RENAISSANCE TECHNOLOGIES LLC added | 1,947,792 | $12M | 0.3% | 2026-Q1 |
| TD Waterhouse Canada Inc. added | 1,539,752 | $10M | 0.3% | 2026-Q1 |
| CITADEL ADVISORS LLC trimmed | 1,528,619 | $9M | 0.3% | 2026-Q1 |
| Krilogy Financial LLC trimmed | 1,387,165 | $9M | 0.3% | 2026-Q1 |
| Swiss National Bank | 1,445,100 | $9M | 0.2% | 2026-Q1 |
| HEARTLAND ADVISORS INC added | 1,392,030 | $9M | 0.2% | 2026-Q1 |
| BlackRock, Inc. trimmed | 1,185,935 | $7M | 0.2% | 2026-Q1 |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main trimmed | 1,022,676 | $6M | 0.2% | 2026-Q1 |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. added | 1,010,888 | $6M | 0.2% | 2026-Q1 |
| Point72 Asset Management, L.P. trimmed | 1,006,924 | $6M | 0.2% | 2026-Q1 |
| Trexquant Investment LP trimmed | 993,573 | $6M | 0.2% | 2026-Q1 |
| Northwest & Ethical Investments L.P. added | 940,052 | $6M | 0.2% | 2026-Q1 |
| Greenland Capital Management LP added | 928,990 | $6M | 0.2% | 2026-Q1 |
| MACKENZIE FINANCIAL CORP added | 916,231 | $6M | 0.2% | 2026-Q1 |
| GEODE CAPITAL MANAGEMENT, LLC trimmed | 821,152 | $5M | 0.1% | 2026-Q1 |
| Quadrature Capital Ltd added | 802,428 | $5M | 0.1% | 2026-Q1 |
| CANADA PENSION PLAN INVESTMENT BOARD added | 750,000 | $5M | 0.1% | 2026-Q1 |
| PDT Partners, LLC trimmed | 725,937 | $4M | 0.1% | 2026-Q1 |
| BALYASNY ASSET MANAGEMENT L.P. added | 711,798 | $4M | 0.1% | 2026-Q1 |
| Euro Pacific Asset Management, LLC added | 703,450 | $4M | 0.1% | 2026-Q1 |
| BARCLAYS PLC added | 671,900 | $4M | 0.1% | 2026-Q1 |
| SCOTIA CAPITAL INC. trimmed | 642,520 | $4M | 0.1% | 2026-Q1 |
| CWA Asset Management Group, LLC added | 619,470 | $4M | 0.1% | 2026-Q1 |
| Triasima Portfolio Management inc. added | 622,325 | $4M | 0.1% | 2026-Q1 |
| Quantbot Technologies LP added | 616,431 | $4M | 0.1% | 2026-Q1 |
| K2 PRINCIPAL FUND, L.P. added | 600,000 | $4M | 0.1% | 2026-Q1 |
| FRANKLIN RESOURCES INC trimmed | 571,263 | $4M | 0.1% | 2026-Q1 |
| Vanguard Investments Australia, Ltd. new | 563,427 | $3M | 0.1% | 2026-Q1 |
| VANGUARD ASSET MANAGEMENT, Ltd new | 556,019 | $3M | 0.1% | 2026-Q1 |
| Nuveen, LLC | 549,708 | $3M | 0.1% | 2026-Q1 |
| VANGUARD GROUP INC trimmed | 33,377,912 | $205M | 5.8% | 2025-Q4 stale |
| Southpoint Capital Advisors LP new | 10,000,000 | $51M | 1.5% | 2025-Q1 stale |
| Corvex Management LP | 6,183,855 | $38M | 1.1% | 2025-Q4 stale |
| Callodine Capital Management, LP added | 5,749,636 | $35M | 1.0% | 2025-Q4 stale |
| Centiva Capital, LP added | 2,300,000 | $13M | 0.4% | 2025-Q2 stale |
| Cubist Systematic Strategies, LLC added | 1,719,208 | $9M | 0.3% | 2025-Q3 stale |
| MANNING & NAPIER ADVISORS LLC | 1,375,000 | $8M | 0.2% | 2025-Q4 stale |
| LM Asset (IM) Inc. trimmed | 1,360,000 | $7M | 0.2% | 2025-Q1 stale |
| MUFG SECURITIES (CANADA), LTD. trimmed | 1,156,483 | $6M | 0.2% | 2025-Q3 stale |
| Y-Intercept (Hong Kong) Ltd added | 870,445 | $5M | 0.2% | 2025-Q4 stale |
| Yaupon Capital Management LP trimmed | 866,736 | $5M | 0.2% | 2025-Q4 stale |
| ARS Investment Partners, LLC added | 863,660 | $5M | 0.1% | 2025-Q4 stale |
| Point72 Europe (London) LLP new | 967,000 | $5M | 0.1% | 2025-Q1 stale |
| Keeley-Teton Advisors, LLC trimmed | 930,945 | $5M | 0.1% | 2025-Q1 stale |
| KAYNE ANDERSON CAPITAL ADVISORS LP trimmed | 770,878 | $5M | 0.1% | 2025-Q4 stale |
| Zimmer Partners, LP added | 800,000 | $4M | 0.1% | 2025-Q3 stale |
| Campbell & CO Investment Adviser LLC added | 662,965 | $4M | 0.1% | 2025-Q4 stale |
| HSBC HOLDINGS PLC added | 746,873 | $4M | 0.1% | 2025-Q3 stale |
| AXA Investment Managers S.A. new | 578,910 | $3M | 0.1% | 2025-Q3 stale |
Ownership over time
Tracked institutional holder count and total shares held by filing quarter (independent scales). The curated-era tail and any mid-ingest latest quarter are handled honestly — a partial quarter is not drawn as a collapse.
Reading this table
Funds hold the same stock for different reasons — an index fund “holds” almost everything, an active manager sizes a name to a mandate and a benchmark, and each fund entered at its own price and time. Because 13F is filed up to 45 days after quarter-end, every row is a backward-looking snapshot; a manager may have traded since. Share-class siblings (a company’s A and C shares) are rolled up to one line so a dual-class name is never double-counted. Compare like-for-like. A large holder is not an endorsement, and a fund exiting is not a warning — this is a starting question, not a verdict.
About 13F filings
A Form 13F is a quarterly disclosure that institutional investment managers with over $100 million in US-listed equities must file with the SEC. In plain English: it is a snapshot of the long stock positions a fund held at the end of a quarter. It covers long US-listed equities only — not short positions, options, cash, or private holdings — and the funds shown are the large sample we track, not the complete 13F universe.