Which funds own TRP
TC Energy Corp in the Q2 2026 filings. At least 3 of the 91 current managers on file reported a position, worth $3.3bn between them. It is among the largest positions of fewer than a fifth of the current managers on file. The quarter went the other way: 3 managers trimmed or sold out against 0 buying.
- Managers holding
- 3
- at least, of 91 current
- Combined value
- $3.3bn
- as reported
- Opened
- 0
- new this quarter
- Added to
- 0
- already held
- Trimmed or sold out
- 3
- 0 sold out entirely
Only each manager’s largest 200 positions are listed here, so a smaller holder may be missing.
Managers reporting a position
Largest first. Weight is the share of that manager’s whole reported book, which is the number worth quoting: $400m is a rounding error in one book and a defining bet in another.
| Manager | Value | Weight | Shares | Change on the quarter | Action |
|---|---|---|---|---|---|
| Capital Research Global Investors Long-only · $717bn book | $2.9bn | 0.4% | 43,524,159 | +$75m-1,323,129 | Trimmed |
| Dodge & Cox Activist · $191bn book | $334m | 0.2% | 5,034,800 | -$223m-3,857,600 | Trimmed |
| Acadian Asset Management LLC Quantitative · $84.2bn book | $80m | 0.1% | 1,200,500 | -$9.7m-227,600 | Trimmed |
Ownership through time
At least 7 of the 93 managers whose filings are on file listed TRP in Q2 2026, against 9 in Q2 2019. 2 managers fewer than in Q1 2026: 2 no longer listed it among the positions read, which can mean a holding below the listed range or a filing not yet made.
Each manager’s largest 500 positions a quarter are read, so a small holding in a very large book can be missing, and a manager is counted as leaving only where its own filing shows it.
- Q2 2019: 9
- Q3 2019: 9
- Q4 2019: 9
- Q1 2020: 11
- Q2 2020: 9
- Q3 2020: 9
- Q4 2020: 12
- Q1 2021: 13
- Q2 2021: 9
- Q3 2021: 7
- Q4 2021: 7
- Q1 2022: 8
- Q2 2022: 7
- Q3 2022: 9
- Q4 2022: 6
- Q1 2023: 8
- Q2 2023: 8
- Q3 2023: 10
- Q4 2023: 12
- Q1 2024: 10
- Q2 2024: 11
- Q3 2024: 14
- Q4 2024: 12
- Q1 2025: 11
- Q2 2025: 9
- Q3 2025: 5
- Q4 2025: 6
- Q1 2026: 9
- Q2 2026: 7
- Q2 2019: $5.5bn
- Q3 2019: $5.9bn
- Q4 2019: $5.5bn
- Q1 2020: $4.8bn
- Q2 2020: $4.4bn
- Q3 2020: $4.5bn
- Q4 2020: $4.4bn
- Q1 2021: $5.3bn
- Q2 2021: $5.4bn
- Q3 2021: $5.3bn
- Q4 2021: $5.8bn
- Q1 2022: $8.8bn
- Q2 2022: $8.6bn
- Q3 2022: $6.6bn
- Q4 2022: $5.6bn
- Q1 2023: $4.9bn
- Q2 2023: $4.8bn
- Q3 2023: $3.6bn
- Q4 2023: $4.4bn
- Q1 2024: $4.4bn
- Q2 2024: $3.3bn
- Q3 2024: $3.9bn
- Q4 2024: $3.9bn
- Q1 2025: $3.6bn
- Q2 2025: $3.2bn
- Q3 2025: $3.4bn
- Q4 2025: $2.9bn
- Q1 2026: $4.2bn
- Q2 2026: $4.0bn
Between the quarter ends of Q1 2026 and Q2 2026. Each change in shares is valued at the Q2 2026 price, so the price’s own move is left out; a 13F shows the two quarter ends, not when in between anything was bought or sold.
Started in Q2 2026
No manager on file started a position.
Largest increases, by shares
- Capital World Investors7,608,584 to 7,626,368 shares+$1.2m
- MFS Investment Management517,000 to 523,931 shares+$647k
Largest decreases, by shares
- Dodge & Cox8,892,400 to 5,034,800 shares-$256m
- Capital Research Global Investors44,847,288 to 43,524,159 shares-$88m
- Acadian Asset Management LLC1,428,100 to 1,200,500 shares-$15m
- Voloridge Investment Management LLC451,398 to 279,596 shares-$11m
- Janus Henderson Group Ltd1,516,877 to 1,446,296 shares-$4.7m
Left it
No manager on file is shown leaving it.
| Manager | Value over time | First listed | Largest | Q2 2026 |
|---|---|---|---|---|
| Capital Research Global Investors | Q2 2019 | $2.9bn | $2.9bn | |
| Capital World Investors | Q2 2020 | $3.5bn | $505m | |
| Dodge & Cox | Q3 2020 | $581m | $334m | |
| Janus Henderson Group Ltd | Q3 2023 | $96m | $96m | |
| Acadian Asset Management LLC | Q2 2025 | $105m | $79m | |
| MFS Investment Management | Q2 2019 | $275m | $49m | |
| Voloridge Investment Management LLC | Q3 2019 | $28m | $19m | |
| T. Rowe Price Associates Inc | Q2 2019 | $2.2bn | last listed Q1 2025 | |
| Wellington Management Group LLP | Q2 2019 | $1.6bn | last listed Q2 2023 | |
| Schonfeld Strategic Advisors LLC | Q1 2020 | $232m | last listed Q1 2021 | |
| Citadel Advisors LLC | Q2 2019 | $128m | last listed Q3 2019 | |
| Two Sigma Investments LP | Q2 2019 | $110m | last listed Q1 2026 | |
| Millennium Management LLC | Q2 2025 | $103m | last listed Q2 2025 | |
| Arrowstreet Capital LP | Q1 2022 | $102m | last listed Q1 2025 | |
| Balyasny Asset Management LLC | Q1 2020 | $91m | last listed Q1 2025 | |
| Marshall Wace LLP | Q1 2020 | $77m | last listed Q1 2025 | |
| Neuberger Berman Group LLC | Q3 2020 | $68m | last listed Q3 2022 |
What TRP is worth
Knowing who owns it is half the question. The other half is what it is worth against the companies it trades beside, which is the one an interviewer will follow up with.
Build the comp set around TRP →How much of the picture this is
A Form 13F reports US-listed long equity and nothing else: no shorts, no bonds, no cash and no non-US listings. It arrives forty-five days after the quarter ends, so a manager who sold in July still shows the position in a filing published in August. This page reads the managers on file here rather than every filer in the market, and each manager’s largest positions rather than the whole table, so a small position in a very large book may not appear. Say “their last filing showed” rather than “they own”, and the distinction will do you credit.
What to do with a name the funds are buying
Knowing who owns something is the start of a pitch, not the pitch. The next questions are what it is worth and why they were buying.
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The holdings, every quarter, and the week between
One email a week on what moved in the market and what it means for the people interviewing into it, with the 13F changes the quarter they are filed.
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