Who owns PBA (PBA)
Which tracked institutional funds hold PBA, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See PBA 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
The tracked-fund tape on PBA is one-sided between 2025-Q4 and 2026-Q1: 165 added or opened and 47 trimmed or exited — on balance accumulating.
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
PBA’s largest tracked holder by dollar value, ROYAL BANK OF CANADA, sizes it at 0.3% of its own reported 13F book, while the median holder sizes it at 0.1% of theirs — a 0.2pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in PBA 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 428 tracked filers holding PBA, 215 increased or opened the position and 161 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 PBA 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 26
- VANGUARD CAPITAL MANAGEMENT LLC$740M
- VANGUARD FIDUCIARY TRUST CO$229M
- Vanguard Global Advisers, LLC$183M
- HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND$55M
- VANGUARD ASSET MANAGEMENT, Ltd$49M
- NEOS Investment Management LLC$27M
Full exits 8
- VANGUARD GROUP INC$1.0B
- Quadrature Capital Ltd$15M
- CIBC Private Wealth Group LLC$9M
- ONTARIO TEACHERS PENSION PLAN BOARD$2M
- XTX Topco Ltd$1M
- RNC CAPITAL MANAGEMENT LLC$934K
Largest adds
- Clearbridge Investments, LLC$316M
- DEUTSCHE BANK AG\$145M
- CIBC WORLD MARKET INC.$134M
- ROYAL BANK OF CANADA$125M
- Alberta Investment Management Corp$79M
- GOLDMAN SACHS GROUP INC$78M
Largest trims
- FIL Ltd$184M
- CANADA PENSION PLAN INVESTMENT BOARD$171M
- BANK OF AMERICA CORP /DE/$106M
- JANUS HENDERSON GROUP PLC$90M
- CIBC Asset Management Inc$76M
- AGF MANAGEMENT LTD$73M
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 |
|---|---|---|---|---|
| ROYAL BANK OF CANADA trimmed | 38,726,115 | $1.7B | 11.9% | 2026-Q1 |
| BANK OF MONTREAL /CAN/ trimmed | 21,078,687 | $944M | 6.5% | 2026-Q1 |
| VANGUARD CAPITAL MANAGEMENT LLC new | 16,534,191 | $740M | 5.1% | 2026-Q1 |
| CIBC WORLD MARKET INC. added | 12,280,619 | $550M | 3.8% | 2026-Q1 |
| 1832 Asset Management L.P. trimmed | 11,726,867 | $525M | 3.6% | 2026-Q1 |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE trimmed | 8,924,666 | $399M | 2.7% | 2026-Q1 |
| Clearbridge Investments, LLC added | 8,445,279 | $378M | 2.6% | 2026-Q1 |
| MACKENZIE FINANCIAL CORP trimmed | 8,281,681 | $371M | 2.5% | 2026-Q1 |
| FIL Ltd trimmed | 7,785,376 | $348M | 2.4% | 2026-Q1 |
| SCOTIA CAPITAL INC. trimmed | 6,746,275 | $299M | 2.0% | 2026-Q1 |
| TD Asset Management Inc added | 6,332,525 | $283M | 1.9% | 2026-Q1 |
| GEODE CAPITAL MANAGEMENT, LLC added | 5,868,614 | $267M | 1.8% | 2026-Q1 |
| DEUTSCHE BANK AG\ added | 5,725,777 | $256M | 1.8% | 2026-Q1 |
| NATIONAL BANK OF CANADA /FI/ added | 5,754,268 | $256M | 1.8% | 2026-Q1 |
| CIBC Asset Management Inc trimmed | 5,666,553 | $253M | 1.7% | 2026-Q1 |
| GOLDMAN SACHS GROUP INC added | 5,153,757 | $231M | 1.6% | 2026-Q1 |
| VANGUARD FIDUCIARY TRUST CO new | 5,118,122 | $229M | 1.6% | 2026-Q1 |
| Legal & General Group Plc trimmed | 4,438,511 | $198M | 1.4% | 2026-Q1 |
| NORGES BANK trimmed | 4,792,973 | $192M | 1.3% | 2026-Q1 |
| Vanguard Global Advisers, LLC new | 4,081,142 | $183M | 1.2% | 2026-Q1 |
| TORTOISE CAPITAL ADVISORS, L.L.C. added | 3,982,948 | $178M | 1.2% | 2026-Q1 |
| MORGAN STANLEY trimmed | 3,915,090 | $175M | 1.2% | 2026-Q1 |
| BANK OF NOVA SCOTIA trimmed | 3,766,410 | $169M | 1.2% | 2026-Q1 |
| Cardinal Capital Management, Inc. added | 3,555,001 | $159M | 1.1% | 2026-Q1 |
| JPMORGAN CHASE & CO added | 3,497,306 | $158M | 1.1% | 2026-Q1 |
| Amundi added | 3,377,710 | $151M | 1.0% | 2026-Q1 |
| DIMENSIONAL FUND ADVISORS LP added | 3,328,784 | $149M | 1.0% | 2026-Q1 |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. added | 3,127,754 | $140M | 1.0% | 2026-Q1 |
| BANK OF AMERICA CORP /DE/ trimmed | 2,906,204 | $130M | 0.9% | 2026-Q1 |
| TORONTO DOMINION BANK trimmed | 2,660,200 | $119M | 0.8% | 2026-Q1 |
| TD Waterhouse Canada Inc. added | 2,469,497 | $107M | 0.7% | 2026-Q1 |
| DekaBank Deutsche Girozentrale | 2,187,064 | $100M | 0.7% | 2026-Q1 |
| UniSuper Management Pty Ltd added | 1,566,061 | $98M | 0.7% | 2026-Q1 |
| Alberta Investment Management Corp added | 2,155,843 | $97M | 0.7% | 2026-Q1 |
| Swiss National Bank added | 1,955,896 | $87M | 0.6% | 2026-Q1 |
| Invesco Ltd. trimmed | 1,899,545 | $85M | 0.6% | 2026-Q1 |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC added | 1,826,128 | $81M | 0.6% | 2026-Q1 |
| INTACT INVESTMENT MANAGEMENT INC. trimmed | 1,701,464 | $76M | 0.5% | 2026-Q1 |
| FMR LLC trimmed | 1,700,812 | $76M | 0.5% | 2026-Q1 |
| KAYNE ANDERSON CAPITAL ADVISORS LP trimmed | 1,606,533 | $72M | 0.5% | 2026-Q1 |
| BCV Asset Management Inc. trimmed | 1,592,388 | $71M | 0.5% | 2026-Q1 |
| Nuveen, LLC trimmed | 1,576,931 | $70M | 0.5% | 2026-Q1 |
| Recurrent Investment Advisors LLC added | 1,494,250 | $67M | 0.5% | 2026-Q1 |
| WESTWOOD HOLDINGS GROUP INC trimmed | 1,465,532 | $66M | 0.4% | 2026-Q1 |
| CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT added | 1,357,100 | $61M | 0.4% | 2026-Q1 |
| Federation des caisses Desjardins du Quebec trimmed | 1,350,873 | $60M | 0.4% | 2026-Q1 |
| NEUBERGER BERMAN GROUP LLC trimmed | 1,301,872 | $58M | 0.4% | 2026-Q1 |
| FRANKLIN RESOURCES INC added | 1,305,181 | $58M | 0.4% | 2026-Q1 |
| D. E. Shaw & Co., Inc. added | 1,263,843 | $57M | 0.4% | 2026-Q1 |
| CANADA PENSION PLAN INVESTMENT BOARD trimmed | 1,259,945 | $56M | 0.4% | 2026-Q1 |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND added | 1,219,100 | $55M | 0.4% | 2026-Q1 |
| DUFF & PHELPS INVESTMENT MANAGEMENT CO trimmed | 859,602 | $53M | 0.4% | 2026-Q1 |
| VANGUARD ASSET MANAGEMENT, Ltd new | 1,087,492 | $49M | 0.3% | 2026-Q1 |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ trimmed | 744,137 | $46M | 0.3% | 2026-Q1 |
| LINCLUDEN MANAGEMENT LTD added | 999,523 | $45M | 0.3% | 2026-Q1 |
| FIRST TRUST ADVISORS LP trimmed | 982,865 | $44M | 0.3% | 2026-Q1 |
| Blackstone Inc. trimmed | 952,930 | $43M | 0.3% | 2026-Q1 |
| Fiera Capital Corp trimmed | 930,749 | $42M | 0.3% | 2026-Q1 |
| MUFG SECURITIES (CANADA), LTD. trimmed | 861,940 | $39M | 0.3% | 2026-Q1 |
| Addenda Capital Inc. trimmed | 605,547 | $38M | 0.3% | 2026-Q1 |
| BlackRock, Inc. added | 799,952 | $36M | 0.2% | 2026-Q1 |
| UBS Group AG trimmed | 746,210 | $33M | 0.2% | 2026-Q1 |
| Maryland State Retirement & Pension System added | 712,792 | $32M | 0.2% | 2026-Q1 |
| BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp added | 689,399 | $31M | 0.2% | 2026-Q1 |
| NICOLA WEALTH MANAGEMENT LTD. trimmed | 664,500 | $30M | 0.2% | 2026-Q1 |
| CANADA LIFE ASSURANCE Co trimmed | 661,192 | $29M | 0.2% | 2026-Q1 |
| NEOS Investment Management LLC new | 607,910 | $27M | 0.2% | 2026-Q1 |
| Purpose Unlimited Inc. added | 592,493 | $26M | 0.2% | 2026-Q1 |
| MILLER HOWARD INVESTMENTS INC /NY added | 567,713 | $25M | 0.2% | 2026-Q1 |
| Vanguard Investments Australia, Ltd. new | 564,137 | $25M | 0.2% | 2026-Q1 |
| Russell Investments Group, Ltd. added | 536,835 | $24M | 0.2% | 2026-Q1 |
| BANK OF NOVA SCOTIA TRUST CO added | 530,819 | $24M | 0.2% | 2026-Q1 |
| CITADEL ADVISORS LLC added | 503,362 | $23M | 0.2% | 2026-Q1 |
| Bank of New York Mellon Corp trimmed | 494,773 | $22M | 0.2% | 2026-Q1 |
| AVIVA PLC added | 487,465 | $22M | 0.1% | 2026-Q1 |
| NORTHERN TRUST CORP added | 473,400 | $21M | 0.1% | 2026-Q1 |
| VANGUARD PORTFOLIO MANAGEMENT LLC new | 464,573 | $21M | 0.1% | 2026-Q1 |
| RENAISSANCE TECHNOLOGIES LLC added | 445,764 | $20M | 0.1% | 2026-Q1 |
| GUARDIAN CAPITAL LP trimmed | 445,859 | $20M | 0.1% | 2026-Q1 |
| Harvest Portfolios Group Inc. added | 437,427 | $20M | 0.1% | 2026-Q1 |
| MILLENNIUM MANAGEMENT LLC added | 415,122 | $19M | 0.1% | 2026-Q1 |
| Catalyst Capital Advisors LLC trimmed | 370,106 | $17M | 0.1% | 2026-Q1 |
| AMERICAN CENTURY COMPANIES INC added | 361,741 | $16M | 0.1% | 2026-Q1 |
| VAN ECK ASSOCIATES CORP added | 358,024 | $16M | 0.1% | 2026-Q1 |
| Man Group plc added | 352,166 | $16M | 0.1% | 2026-Q1 |
| Hillsdale Investment Management Inc. trimmed | 335,664 | $15M | 0.1% | 2026-Q1 |
| ENVESTNET ASSET MANAGEMENT INC added | 322,585 | $14M | 0.1% | 2026-Q1 |
| State of Tennessee, Department of Treasury | 313,508 | $14M | 0.1% | 2026-Q1 |
| Connor, Clark & Lunn Investment Management Ltd. trimmed | 300,027 | $13M | 0.1% | 2026-Q1 |
| AGF MANAGEMENT LTD trimmed | 292,542 | $13M | 0.1% | 2026-Q1 |
| VANGUARD GROUP INC trimmed | 26,684,615 | $1.0B | 7.0% | 2025-Q4 stale |
| JARISLOWSKY, FRASER Ltd added | 8,814,455 | $356M | 2.4% | 2025-Q3 stale |
| ClearBridge Investments Ltd added | 5,448,687 | $204M | 1.4% | 2025-Q2 stale |
| HSBC HOLDINGS PLC added | 2,358,809 | $95M | 0.7% | 2025-Q3 stale |
| MUFG Securities EMEA plc added | 1,399,999 | $72M | 0.5% | 2025-Q2 stale |
| JENNISON ASSOCIATES LLC trimmed | 622,096 | $23M | 0.2% | 2025-Q2 stale |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP trimmed | 503,700 | $20M | 0.1% | 2025-Q3 stale |
| Achmea Investment Management B.V. trimmed | 429,382 | $17M | 0.1% | 2025-Q3 stale |
| Quadrature Capital Ltd added | 381,300 | $15M | 0.1% | 2025-Q4 stale |
| HITE Hedge Asset Management LLC trimmed | 352,609 | $13M | 0.1% | 2025-Q2 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.