SCHEDULE 13G/A: Goldman Sachs Discloses 3.4% Passive Stake in TC Energy Corporation
Beneficial Ownership Report
Goldman Sachs Group and its subsidiary Goldman Sachs & Co. LLC have filed an amended Schedule 13G, reporting a passive beneficial ownership of 3.4% in TC Energy Corporation as of March 31, 2025.
Summary
- The Goldman Sachs Group, Inc. and its subsidiary, Goldman Sachs & Co. LLC, have filed an Amendment No. 2 to Schedule 13G regarding their beneficial ownership in TC Energy Corporation.
- As of March 31, 2025, the reporting persons collectively beneficially own 35,428,875.18 common shares of TC Energy Corporation.
- This aggregate amount represents 3.4% of TC Energy Corporation's class of common shares.
- The filing indicates that Goldman Sachs holds shared voting power over 35,426,420.18 shares and shared dispositive power over 35,426,468.18 shares.
- The filing is made under Rule 13d-1(b), signifying that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of the issuer.
- Goldman Sachs Group, Inc. is classified as a parent holding company, and Goldman Sachs & Co. LLC is classified as a broker or dealer and an investment adviser.
Sentiment
Score: 5
Explanation: The document is a factual disclosure of beneficial ownership and does not contain subjective language or information that would indicate a positive or negative sentiment regarding the issuer's performance or prospects.
Positives
- NA
Negatives
- NA
Risks
- NA
Future Outlook
This Schedule 13G filing does not contain any forward-looking statements or guidance from TC Energy Corporation or the reporting persons regarding the issuer's future performance or outlook.
Industry Context
This filing is a standard disclosure by a large institutional investor, Goldman Sachs, indicating its passive ownership stake in TC Energy Corporation, a major North American energy infrastructure company. Such filings provide transparency into significant shareholdings but do not typically signal strategic shifts or operational changes for the issuer. The 3.4% stake is below the threshold for active influence, consistent with a passive investment strategy.
Stakeholder Impact
- Shareholders: Provides transparency regarding a significant institutional holding, confirming Goldman Sachs' passive investment in TC Energy Corporation.
- Regulatory Authorities: Fulfills SEC disclosure requirements for beneficial ownership, ensuring market transparency.
Key Dates
| Date | Description |
|---|---|
| 2023-12-01 | Previous Power of Attorney granted by Goldman Sachs & Co. LLC to certain attorneys-in-fact was superseded. |
| 2024-02-09 | Previous Power of Attorney granted by The Goldman Sachs Group, Inc. to certain attorneys-in-fact was superseded. |
| 2024-07-29 | Date of new Power of Attorney granted by The Goldman Sachs Group, Inc. to specified attorneys-in-fact, effective until July 29, 2025. |
| 2024-10-01 | Date of new Power of Attorney granted by Goldman Sachs & Co. LLC to specified attorneys-in-fact, effective until October 1, 2025. |
| 2025-03-31 | Date of event which requires the filing of this statement (measurement date for beneficial ownership). |
| 2025-04-02 | Date of signing and filing of the Schedule 13G Amendment No. 2. |
Keywords
TC Energy Corporation, Goldman Sachs, Schedule 13G, Beneficial Ownership, Common Shares, Investment, Energy Sector, Pipeline Company, Institutional Investor
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