SOBO in the 13F filings

South Bow Corp · CUSIP 83671M105

Sector · Energy Theme · Energy and power infrastructure· L3VLUP-defined

Quarter

Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024

Quarter end: 30 Jun 2026; the date the book describes
Filed: 27 Oct 2026; latest of these filings; the earliest 12 Aug 2026
Managers listing it: 20; at least, of 95 tracked, among listed positions
Comparable managers: 91; filed both Q1 2026 and Q2 2026; 2 listed it in both
Shares listed: 32,125,404; combined, among listed positions
Reported value: $1.1bn; combined, at the quarter end

AllianceBernstein LP. Values in this filing are at the previous quarter end's prices; its share count is the quarter end's.

Among the 91 comparable managers: 10 buyers (opened or added shares) and 11 sellers (trimmed or exited), at least, among listed positions. Their net change in shares was +2,043,331.

Managers listing SOBO in Q2 2026

Share of 13F value is the position’s reported value over everything the manager reported that quarter. The share change is against Q1 2026, and only where both filings list the position. A rise in value with no rise in shares is the price, not buying.

ActionShare of book at least

20 of 20 holders

				Action		Filing
Fidelity (FMR LLC)	21,894,771	$771m	under 0.1%	Added	+12,223,172	13 Aug 2026 (the filing on sec.gov)
T. Rowe Price Associates Inc	5,244,591	$185m	under 0.1%	Added	+7,481	14 Aug 2026 (the filing on sec.gov)
Invesco Ltd	1,289,008	$45m	under 0.1%	Trimmed	-233,651	14 Aug 2026 (the filing on sec.gov)
Two Sigma Investments LP	1,222,942	$43m	under 0.1%	Trimmed	-166,446	14 Aug 2026 (the filing on sec.gov)
D. E. Shaw & Co.	1,127,006	$40m	under 0.1%	Added	+684,232	14 Aug 2026 (the filing on sec.gov)
Citadel Advisors LLC	318,459	$11m	under 0.1%	Trimmed	-84,066	2 Sep 2026 (the filing on sec.gov)
Jane Street Group LLC	305,104	$11m	under 0.1%	Added	+148,796	14 Aug 2026 (the filing on sec.gov)
Man Group PLC	124,726	$4.4m	under 0.1%	Trimmed	-112,146	14 Aug 2026 (the filing on sec.gov)
Millennium Management LLC	111,843	$3.9m	under 0.1%	Trimmed	-110,530	14 Aug 2026 (the filing on sec.gov)
Capital World Investors	105,426	$3.7m	under 0.1%	Trimmed	-4,139	12 Aug 2026 (the filing on sec.gov)
Renaissance Technologies LLC	76,680	$2.7m	under 0.1%	Added	+41,800	13 Aug 2026 (the filing on sec.gov)
Schonfeld Strategic Advisors LLC	71,366	$2.5m	under 0.1%	Added	+28,026	14 Aug 2026 (the filing on sec.gov)
Susquehanna International Group LLP	46,372	$1.6m	under 0.1%	Added	+34,379	14 Aug 2026 (the filing on sec.gov)
Neuberger Berman Group LLC	41,726	$1.5m	under 0.1%	Added	+3,994	27 Oct 2026 (the filing on sec.gov)
Quantbot Technologies LP	36,605	$1.3m	0.05%	Trimmed	-71,803	12 Aug 2026 (the filing on sec.gov)
AllianceBernstein LP	29,590	$986k	under 0.1%	Held	0	14 Aug 2026 (the filing on sec.gov)
Voloridge Investment Management LLC	26,762	$943k	under 0.1%	Trimmed	-53,964	14 Aug 2026 (the filing on sec.gov)
Squarepoint Ops LLC	23,269	$820k	under 0.1%	Added	+4,106	14 Aug 2026 (the filing on sec.gov)
ExodusPoint Capital Management LP	15,600	$550k	under 0.1%	Added	+9,500	14 Aug 2026 (the filing on sec.gov)
AQR Capital Management LLC	13,558	$477k	under 0.1%	Trimmed	-15,002	14 Aug 2026 (the filing on sec.gov)

Largest increases and reductions, by shares

Q1 2026 to Q2 2026, among managers that listed it in both quarters or opened it.

Increases

Fidelity (FMR LLC)existing position · 21,894,771 shares now+12,223,172
D. E. Shaw & Co.existing position · 1,127,006 shares now+684,232
Jane Street Group LLCexisting position · 305,104 shares now+148,796
Renaissance Technologies LLCexisting position · 76,680 shares now+41,800
Susquehanna International Group LLPexisting position · 46,372 shares now+34,379

Reductions

Invesco Ltdexisting position · 1,289,008 shares now-233,651
Two Sigma Investments LPexisting position · 1,222,942 shares now-166,446
Man Group PLCexisting position · 124,726 shares now-112,146
Millennium Management LLCexisting position · 111,843 shares now-110,530
Citadel Advisors LLCexisting position · 318,459 shares now-84,066

New positions and exits

At least these many: a manager is shown exiting only where its own filing shows the position gone.

New (0)

No new position among listed positions.

Exited (2)

Capital Research Global Investorswas $342m
Arrowstreet Capital LPwas $401k

Ownership over time

Every quarter on file. A quarter-end value moves with the price as well as with the shares held; buyers and sellers count comparable managers, by shares.

3 in Q4 2024 to 1 in Q2 2026

Tracked managers listing it, at least.

the quarter shown share split complete books; unmarked quarters rest on listed positionsClick a quarter to open it.

Compare with…

Holders over time, buyers and sellers, and the managers holding both, side by side for up to four stocks.

SOBO and GEV →SOBO and XOM →SOBO and CVX →Choose a stock to compare with SOBO →

How much of the picture this is

A 13F is a manager’s long US-listed equity book at a quarter end, filed up to 45 days later. It shows no shorts, cash, bonds or performance, and it is never today’s portfolio. Large books are listed to their largest positions, so a manager missing from this table may still hold a small position below that line. These are 95 tracked managers, not the institutional market.

Which funds own SOBO, latest filings →Back to the 13F Explorer →

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Quarter	Holders	Reported value	Buyers	Sellers
Q4 2024	3	$328m	3	0
Q1 2025	3	$820m	2	2
Q2 2025	2	$335m	2	0
Q3 2025	3	$273m	1	2
Q4 2025	2	$179m	6	15
Q1 2026	3	$520m	16	6
Q2 2026	1	$771m	10	11