CIK: 0001868643
Total reported value
$5.0B
Reporting period: 2026-03-31 · Number of holdings: 286
SIG North Trading, ULC disclosed 286 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $5.0B and a quarterly turnover rate of 25.3%.
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SIG North Trading, ULC's disclosed holdings carry a Herfindahl concentration index of 0.043 — mathematically equivalent to about 23 equally-sized positions, well below its 286 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.96), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Add SU
-6.4% $69.7M
Trim BMO
-31.6% -$117.4M
Trim TD
-33.6% -$96.7M
Add TU
+14.8% $36.2M
Trim RY
-15.2% -$90.2M
Trim BNS
-15.4% -$81.5M
Showing top 111 holdings (of 286 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | RCI | Rogers Communications Inc-b | Stock-Other | 7.83% | -0.23% | -13.36% | |
| 2 | RY | Royal Bank Of Canada | Stock-Financials | 7.45% | -0.97% | -15.20% | |
| 3 | TU | Telus CORP | Stock-Other | 6.87% | +1.28% | +14.79% | |
| 4 | CM | Can Imperial Bk Of Commerce | Stock-Financials | 6.59% | -0.61% | -20.42% | |
| 5 | BNS | Bank Of Nova Scotia | Stock-Financials | 6.39% | -0.91% | -15.36% | |
| 6 | BMO | Bank Of Montreal | Stock-Financials | 5.87% | -1.61% | -31.57% | |
| 7 | ENB | Enbridge INC | Stock-Energy | 4.95% | -0.35% | -24.92% | |
| 8 | SU | Suncor Energy INC | Stock-Energy | 4.94% | +1.71% | -6.36% | |
| 9 | BCE | Bce INC | Stock-Comm Services | 4.23% | -0.60% | -24.85% | |
| 10 | TRP | Tc Energy CORP | Stock-Energy | 4.18% | -0.26% | -24.65% | |
| 11 | CNQ | Canadian Natural Resources | Stock-Energy | 4.11% | +0.69% | -24.04% | |
| 12 | TD | Toronto-dominion Bank | Stock-Financials | 3.72% | -1.43% | -33.62% | |
| 13 | SLF | Sun Life Financial INC | Stock-Financials | 2.40% | -0.35% | -20.94% | |
| 14 | MFC | Manulife Financial CORP | Stock-Financials | 2.13% | -0.14% | -10.13% | |
| 15 | CVE | Cenovus Energy INC | Stock-Energy | 2.08% | +0.68% | -13.78% | |
| 16 | AEM | Agnico Eagle Mines LTD | Stock-Materials | 2.02% | — | -23.99% | |
| 17 | CCJ | Cameco CORP | Stock-Energy | 1.96% | +0.73% | +22.43% | |
| 18 | PBA | Pembina Pipeline CORP | Stock-Energy | 1.40% | -0.73% | -49.18% | |
| 19 | NTR | Nutrien LTD | Stock-Materials | 1.33% | +0.74% | +69.33% | |
| 20 | BIP | Brookfield Infrastructure Partners L.P. | Stock-Utilities | 1.08% | — | -3.83% | |
| 21 | B | Barrick Mining CORP | Stock-Materials | 0.98% | -0.39% | -30.88% | |
| 22 | TECK | Teck Resources Ltd-cls B | Stock-Materials | 0.93% | +0.36% | +37.67% | |
| 23 | CLS | Celestica INC | Stock-Tech | 0.87% | +0.19% | +22.21% | |
| 24 | CNI | Canadian Natl Railway Co | Stock-Industrials | 0.82% | -0.28% | -34.78% | |
| 25 | SHOP | Shopify INC - Class A | Stock-Tech | 0.79% | +0.18% | +58.81% | |
| 26 | BEP | Brookfield Renewable Partners L.P. | Stock-Other | 0.76% | +0.23% | +8.58% | |
| 27 | BN | Brookfield CORP | Stock-Financials | 0.76% | — | +3.58% | |
| 28 | FNV | Franco-nevada CORP | Stock-Materials | 0.66% | +0.15% | -0.70% | |
| 29 | IMO | Imperial Oil LTD | Stock-Energy | 0.55% | +0.31% | +35.31% | |
| 30 | CP | Canadian Pacific Kansas City | Stock-Industrials | 0.54% | — | -2.63% | |
| 31 | QSR | Restaurant Brands Intern | Stock-Consumer Disc | 0.49% | +0.35% | +192.32% | |
| 32 | AG | First Majestic Silver CORP | Stock-Materials | 0.47% | +0.11% | -7.03% | |
| 33 | WPM | Wheaton Precious Metals CORP | Stock-Materials | 0.43% | -0.11% | -35.41% | |
| 34 | MGA | Magna International INC | Stock-Consumer Disc | 0.42% | — | +13.21% | |
| 35 | BAM | Brookfield Asset Mgmt-a | Stock-Financials | 0.40% | +0.16% | +77.21% | |
| 36 | TRI4EUR | Thomson Reuters CORP | Stock-Other | 0.40% | +0.31% | +503.13% | |
| 37 | TAC | Transalta CORP | Stock-Other | 0.40% | — | +3.14% | |
| 38 | EMA | Emera INC | Stock-Other | 0.38% | — | -6.38% | |
| 39 | PAAS | Pan American Silver CORP | Stock-Materials | 0.35% | -0.23% | -47.77% | |
| 40 | HUT | Hut 8 CORP | Stock-Financials | 0.32% | — | -14.61% | |
| 41 | WCN | Waste Connections INC | Stock-Industrials | 0.31% | — | +19.15% | |
| 42 | PSLV | Sprott Physical Silver Trust | Stock-Other | 0.30% | +0.15% | +82.28% | |
| 43 | TFII | Tfi International INC | Stock-Other | 0.30% | +0.11% | +36.62% | |
| 44 | KGC | Kinross Gold CORP | Stock-Materials | 0.30% | -0.25% | -54.57% | |
| 45 | SOBO | South Bow CORP | Stock-Other | 0.29% | +0.15% | +61.18% | |
| 46 | OVV | Ovintiv INC | Stock-Energy | 0.27% | +0.20% | +123.17% | |
| 47 | VET | Vermilion Energy INC | Stock-Other | 0.27% | -0.33% | -75.36% | |
| 48 | BTG | B2gold CORP | Stock-Other | 0.24% | +0.10% | +57.42% | |
| 49 | AAUC | Allied Gold CORP | Stock-Other | 0.23% | +0.22% | +1926.88% | |
| 50 | MEOH | Methanex CORP | Stock-Other | 0.23% | +0.16% | +111.71% |
Performance for Q3 2026
+2.6%
Performance Last 4 Quarters
+38.1%
Based on 74% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 286 | $5.0B | 25 | |
| 2025-12-31 | 274 | $5.5B | 18 | |
| 2025-09-30 | 266 | $5.1B | 46 | |
| 2025-06-30 | 266 | $4.1B | 0 | |
| 2025-03-31 | 257 | $3.2B | 0 | |
| 2024-12-31 | 243 | $3.0B | 0 | |
| 2024-09-30 | 239 | $2.7B | 0 | |
| 2024-06-30 | 264 | $2.4B | 0 | |
| 2024-03-31 | 262 | $1.9B | 0 | |
| 2023-09-30 | 244 | $2.1B | 0 | |
| 2023-06-30 | 241 | $2.0B | 0 | |
| 2023-03-31 | 253 | $2.2B | 0 | |
| 2022-12-31 | 262 | $2.1B | 0 | |
| 2022-09-30 | 257 | $2.4B | 0 | |
| 2022-06-30 | 249 | $2.0B | 0 | |
| 2022-03-31 | 240 | $2.3B | 0 | |
| 2021-12-31 | 264 | $2.0B | 0 |
SIG North Trading, ULC's most significant position changes for 2026-03-31: New buy: Mda Space LTD (MDA); New buy: Sprott Physical Gold Trust (PHYS); Trim: Suncor Energy INC (SU) — shares -6.36%; Trim: Bank Of Montreal (BMO) — shares -31.57%; Trim: Toronto-dominion Bank (TD) — shares -33.62%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | SU | Suncor Energy INC | +1.7% | -6.36% | Trim |
| 2 | TU | Telus CORP | +1.3% | +14.79% | Add |
| 3 | NTR | Nutrien LTD | +0.7% | +69.33% | Add |
| 4 | CCJ | Cameco CORP | +0.7% | +22.43% | Add |
| 5 | CNQ | Canadian Natural Resources | +0.7% | -24.04% | Trim |
| 6 | CVE | Cenovus Energy INC | +0.7% | -13.78% | Trim |
| 7 | TECK | Teck Resources Ltd-cls B | +0.4% | +37.67% | Add |
| 8 | QSR | Restaurant Brands Intern | +0.4% | +192.32% | Add |
| 9 | TRI4EUR | Thomson Reuters CORP | +0.3% | +503.13% | Add |
| 10 | IMO | Imperial Oil LTD | +0.3% | +35.31% | Add |
| 11 | BEP | Brookfield Renewable Partners L.P. | +0.2% | +8.58% | Add |
| 12 | AAUC | Allied Gold CORP | +0.2% | +1926.88% | Add |
| 13 | OVV | Ovintiv INC | +0.2% | +123.17% | Add |
| 14 | CLS | Celestica INC | +0.2% | +22.21% | Add |
| 15 | SHOP | Shopify INC - Class A | +0.2% | +58.81% | Add |
| 16 | MEOH | Methanex CORP | +0.2% | +111.71% | Add |
| 17 | BAM | Brookfield Asset Mgmt-a | +0.2% | +77.21% | Add |
| 18 | SOBO | South Bow CORP | +0.2% | +61.18% | Add |
| 19 | PSLV | Sprott Physical Silver Trust | +0.2% | +82.28% | Add |
| 20 | FNV | Franco-nevada CORP | +0.2% | -0.70% | Trim |
| 21 | XLE | Ss Energy Select Sector | +0.1% | +51.84% | Add |
| 22 | TFII | Tfi International INC | +0.1% | +36.62% | Add |
| 23 | AG | First Majestic Silver CORP | +0.1% | -7.03% | Trim |
| 24 | BTG | B2gold CORP | +0.1% | +57.42% | Add |
| 25 | AEM | Agnico Eagle Mines LTD | — | -23.99% | Trim |
| 26 | BN | Brookfield CORP | — | +3.58% | Add |
| 27 | WFG | West Fraser Timber Co LTD | -0.1% | -43.08% | Trim |
| 28 | WPM | Wheaton Precious Metals CORP | -0.1% | -35.41% | Trim |
| 29 | MFC | Manulife Financial CORP | -0.1% | -10.13% | Trim |
| 30 | EQX | Equinox Gold CORP | -0.1% | -51.59% | Trim |
| 31 | NEM | Newmont CORP | -0.1% | -88.38% | Trim |
| 32 | RCI | Rogers Communications Inc-b | -0.2% | -13.36% | Trim |
| 33 | PAAS | Pan American Silver CORP | -0.2% | -47.77% | Trim |
| 34 | KGC | Kinross Gold CORP | -0.3% | -54.57% | Trim |
| 35 | TRP | Tc Energy CORP | -0.3% | -24.65% | Trim |
| 36 | CNI | Canadian Natl Railway Co | -0.3% | -34.78% | Trim |
| 37 | VET | Vermilion Energy INC | -0.3% | -75.36% | Trim |
| 38 | ENB | Enbridge INC | -0.4% | -24.92% | Trim |
| 39 | SLF | Sun Life Financial INC | -0.4% | -20.94% | Trim |
| 40 | B | Barrick Mining CORP | -0.4% | -30.88% | Trim |
| 41 | FTS | Fortis INC | -0.4% | -79.94% | Trim |
| 42 | BCE | Bce INC | -0.6% | -24.85% | Trim |
| 43 | CM | Can Imperial Bk Of Commerce | -0.6% | -20.42% | Trim |
| 44 | PBA | Pembina Pipeline CORP | -0.7% | -49.18% | Trim |
| 45 | BNS | Bank Of Nova Scotia | -0.9% | -15.36% | Trim |
| 46 | RY | Royal Bank Of Canada | -1% | -15.20% | Trim |
| 47 | TD | Toronto-dominion Bank | -1.4% | -33.62% | Trim |
| 48 | BMO | Bank Of Montreal | -1.6% | -31.57% | Trim |
| 49 | MDA | Mda Space LTD | — | NEW | New buy |
| 50 | PHYS | Sprott Physical Gold Trust | — | NEW | New buy |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-15 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-17 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-14 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-14 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-14 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-14 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-14 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-15 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-07 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-14 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-11 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-16 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-14 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-14 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-15 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-16 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-14 | 13F-HR | View on EDGAR |
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