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Bank of Montreal updates 3.38% TC Energy (TRP) stake in amended 13G

(Moderate)
(Neutral)
Form Type
SCHEDULE 13G/A

Rhea-AI Filing Summary

TC Energy Corp received an updated ownership report showing that Bank of Montreal and affiliated entities beneficially own 35,221,997 common shares, representing 3.38% of the class as of June 30, 2026. The filing is Amendment No. 5 to a passive ownership report.

Bank of Montreal has 34,938,289 shares with sole voting power and 106,434 shares with shared voting power. It also has sole dispositive power over 35,114,383 shares and shared dispositive power over 106,434 shares, reported across multiple BMO subsidiaries and affiliates.

Positive

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Beneficial ownership 35,221,997 shares Common shares of TC Energy beneficially owned by Bank of Montreal and affiliates
Percent of class 3.38 % Percentage of TC Energy common shares beneficially owned
Sole voting power (Bank of Montreal) 34,938,289 shares Shares over which Bank of Montreal has sole power to vote
Shared voting power (Bank of Montreal) 106,434 shares Shares over which Bank of Montreal has shared power to vote
Sole dispositive power (Bank of Montreal) 35,114,383 shares Shares over which Bank of Montreal has sole power to dispose
Sole voting power (BMO Asset Management Inc.) 14,534,783 shares Voting power held by BMO Asset Management Inc. in TC Energy
Sole voting power (BMO Private Investment Counsel Inc.) 2,711,862 shares Voting power held by BMO Private Investment Counsel Inc. in TC Energy
beneficially owned financial
"Amount beneficially owned: 35,221,997"
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
sole voting power financial
"Sole Voting Power 34,938,289.00"
Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.
shared voting power financial
"Shared Voting Power 106,434.00"
Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.
sole dispositive power financial
"Sole Dispositive Power 35,114,383.00"
Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.
shared dispositive power financial
"Shared Dispositive Power 106,434.00"
Schedule 13G regulatory
"Each reporting person may be deemed to be a member of a group with respect to the issuer or securities of the issuer for the purposes of Section 13(d) or 13(g) of the Act."
A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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FAQ

What ownership stake in TC Energy (TRP) does Bank of Montreal report in this Schedule 13G/A?

Bank of Montreal and affiliates report beneficial ownership of 35,221,997 TC Energy common shares, or 3.38% of the class. This reflects their aggregate holdings as of June 30, 2026, reported on Amendment No. 5 to their passive ownership statement.

How many TC Energy (TRP) shares does Bank of Montreal control through sole voting power?

Bank of Montreal reports sole voting power over 34,938,289 TC Energy common shares. Additional voting authority includes 106,434 shares subject to shared voting power across related BMO entities, contributing to the total 3.38% beneficial ownership stake.

What is the difference between voting and dispositive power reported for TC Energy (TRP) shares?

Bank of Montreal has sole dispositive power over 35,114,383 shares and shared dispositive power over 106,434 shares. Voting power refers to how shares are voted, while dispositive power reflects authority to sell or otherwise dispose of those shares.

Which BMO subsidiaries are included in the TC Energy (TRP) Schedule 13G/A filing?

The filing covers Bank of Montreal and entities such as BMO Nesbitt Burns Inc., BMO Asset Management Inc., BMO Private Investment Counsel Inc., BMO Bank N.A., and others. Their combined positions form the reported 35,221,997 shares beneficially owned.

Is Bank of Montreal classified as part of a group regarding TC Energy (TRP) under this filing?

Each reporting person may be deemed part of a group for Section 13 purposes, but they expressly disclaim being a group or acting in concert. The statement clarifies that the filing should not be construed as an admission of group status.

Does Bank of Montreal own 5% or more of TC Energy (TRP) common shares?

No, Bank of Montreal and affiliates report ownership of 3.38% of TC Energy’s common shares. The filing confirms ownership of 5 percent or less of the class, consistent with a Schedule 13G passive ownership filing status.





87807B107

(CUSIP Number)
06/30/2026

(Date of Event Which Requires Filing of this Statement)


Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)




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Bank of Montreal
Signature:Kathryn Cenac
Name/Title:Managing Director - Regulatory Solutions Group
Date:08/12/2026
BANK OF MONTREAL HOLDING INC.
Signature:Kathryn Cenac
Name/Title:Managing Director - Regulatory Solutions Group
Date:08/12/2026
BMO NESBITT BURNS INC.
Signature:Kathryn Cenac
Name/Title:Managing Director - Regulatory Solutions Group
Date:08/12/2026
BMO NESBITT BURNS SECURITIES LTD.
Signature:Kathryn Cenac
Name/Title:Managing Director - Regulatory Solutions Group
Date:08/12/2026
BMO PRIVATE INVESTMENT COUNSEL INC.
Signature:Kathryn Cenac
Name/Title:Managing Director - Regulatory Solutions Group
Date:08/12/2026
BMO ASSET MANAGEMENT INC.
Signature:Kathryn Cenac
Name/Title:Managing Director - Regulatory Solutions Group
Date:08/12/2026
BMO FINANCIAL CORP.
Signature:Kathryn Cenac
Name/Title:Managing Director - Regulatory Solutions Group
Date:08/12/2026
BMO Delaware Trust Company
Signature:Kathryn Cenac
Name/Title:Managing Director - Regulatory Solutions Group
Date:08/12/2026
BMO BANK N.A.
Signature:Kathryn Cenac
Name/Title:Managing Director - Regulatory Solutions Group
Date:08/12/2026
BMO FAMILY OFFICE, LLC
Signature:Kathryn Cenac
Name/Title:Managing Director - Regulatory Solutions Group
Date:08/12/2026
Stoker Ostler Wealth Advisors, Inc.
Signature:Kathryn Cenac
Name/Title:Managing Director - Regulatory Solutions Group
Date:08/12/2026
1001271606 ONTARIO INC
Signature:Kathryn Cenac
Name/Title:Managing Director - Regulatory Solutions Group
Date:08/12/2026
Burgundy Asset Management, Inc.
Signature:Kathryn Cenac
Name/Title:Managing Director - Regulatory Solutions Group
Date:08/12/2026