Ninepoint Partners LP
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 6, 2025), Ninepoint Partners LP reported 90 stock positions worth $569.5 million. Its top holding was Canadian Natural Resources (CNQ) at 16.7% of the portfolio, followed by Expand Energy (EXE, 15.6%) and Eqt (EQT, 14.1%). Compared with Q4 2024, it opened 23 new positions, sold out of 20, added to 19 and reduced 29. The biggest buy was Eqt (EQT, shares +200%) and the biggest sale Suncor Energy (SU, shares −95%).
- Most Recent 13F
- Q2 2026
- Location
- TORONTO, A6
- CIK
- 0001715635
- Portfolio Value
- $569.5M (Q1 2025)
- SEC Filing
- 0001715635-25-000003 ↗ filed May 6, 2025
Holdings Value
Holdings 90 stocks · $569.5M
| CNQ Canadian Natural Resources | 16.71% | 3,090,334 | $95.2M | Add +63.9% |
| EXE Expand Energy Corp. | 15.64% | 800,000 | $89.1M | Add +100.0% |
| EQT Eqt Corp. | 14.07% | 1,500,000 | $80.1M | Add +200.0% |
| VRN Veren Inc. | 10.11% | 8,697,546 | $57.6M | Reduce -58.8% |
| SPY SS SPDR S&P 500 ETF Trust-US | 5.39% | 54,900 | $30.7M | Reduce -2.8% |
| AR Antero Resources Corp. | 3.55% | 500,000 | $20.2M | New |
| CVE Cenovus Energy Inc. | 2.44% | 1,000,000 | $13.9M | No change |
| CHRD Chord Energy Corp. | 2.18% | 110,000 | $12.4M | No change |
| GFR Greenfire Resources Ltd. | 2.06% | 2,000,000 | $11.7M | No change |
| AEM Agnico Eagle Mines Ltd. | 1.21% | 63,677 | $6.9M | New |
| KGC Kinross Gold Corp. | 1.18% | 531,820 | $6.7M | New |
| BTE Baytex Energy Corp. | 1.10% | 2,800,000 | $6.2M | Reduce -87.7% |
| ALG Alamo Group Inc. | 1.08% | 230,000 | $6.2M | New |
| NOG Northern Oil and Gas Inc. | 1.06% | 200,000 | $6.0M | No change |
| CIVI Civitas Resources Inc. | 1.04% | 170,000 | $5.9M | No change |
| PR Permian Resources Corp. Class A | 0.97% | 400,000 | $5.5M | Reduce -44.4% |
| ENB Enbridge Inc. | 0.82% | 105,389 | $4.7M | Reduce -1.8% |
| VNOM Viper Energy Inc. | 0.79% | 100,000 | $4.5M | New |
| DVN Devon Energy Corp. | 0.66% | 100,000 | $3.7M | Reduce -77.8% |
| SLF Sun Life Financial Inc. | 0.63% | 62,925 | $3.6M | Add +4.2% |
| CNL Collective Mining Ltd. | 0.63% | 410,000 | $3.6M | Reduce -28.7% |
| MFC Manulife Financial Corp. | 0.57% | 104,114 | $3.2M | Add +6.9% |
| FTS Fortis Inc. | 0.55% | 68,420 | $3.1M | Add +1.4% |
| SU Suncor Energy Inc. | 0.52% | 76,695 | $3.0M | Reduce -95.1% |
| RY Royal Bank of Canada | 0.52% | 26,135 | $2.9M | Add +6.1% |
| TU Telus Corp. | 0.50% | 198,927 | $2.9M | Add +3.4% |
| CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BK COMM | 0.50% | 50,209 | $2.8M | New |
| VZLA Vizsla Silver Corp. | 0.47% | 1,168,925 | $2.7M | New |
| IAG Iamgold Corp. | 0.46% | 418,900 | $2.6M | New |
| AMT American Tower Corp. | 0.45% | 11,742 | $2.6M | Add +20.8% |
| MSFT Microsoft Corp. | 0.42% | 6,380 | $2.4M | Reduce -7.7% |
| WCN Waste Connections Inc. | 0.41% | 11,970 | $2.3M | Add +3.3% |
| TRP TC Energy Corp. | 0.37% | 44,738 | $2.1M | New |
| FCX Freeport-McMoran Inc. | 0.37% | 55,000 | $2.1M | New |
| CCJ Cameco Corp. | 0.36% | 50,000 | $2.1M | New |
| WPM Wheaton Precious Metals Corp. | 0.33% | 24,391 | $1.9M | New |
| SBAC SBA Communications Corp. | 0.33% | 8,489 | $1.9M | Add +30.4% |
| NVDA Nvidia Corp. | 0.32% | 17,033 | $1.8M | Reduce -33.7% |
| UNP Union Pacific Corp. | 0.32% | 7,807 | $1.8M | Reduce -23.8% |
| NXE Nexgen Energy Ltd. | 0.30% | 380,000 | $1.7M | Add +7.0% |
| LNG Cheniere Energy Inc. | 0.27% | 6,753 | $1.6M | No change |
| NI Nisource Inc. | 0.27% | 38,901 | $1.6M | No change |
| TRGP Targa Resources Corp. | 0.27% | 7,691 | $1.5M | No change |
| TLN Talen Energy Corp. | 0.26% | 7,478 | $1.5M | Add +11.6% |
| DUK Duke Energy Corp. | 0.26% | 12,055 | $1.5M | Add +7.3% |
| ET Energy Transfer LP | 0.26% | 78,832 | $1.5M | No change |
| CMS CMS Energy Corp. | 0.26% | 19,440 | $1.5M | Add +4.9% |
| AEP American Electric Power | 0.25% | 13,204 | $1.4M | No change |
| SO The Southern Co. | 0.25% | 15,557 | $1.4M | Add +5.8% |
| AEE Ameren Corporation | 0.25% | 13,975 | $1.4M | No change |
| EQIX Equinix Inc. | 0.25% | 1,719 | $1.4M | Add +0.9% |
| PPL PPL Corp. | 0.24% | 38,168 | $1.4M | No change |
| PEG Public Service Enterprise GP | 0.24% | 16,527 | $1.4M | Add +11.8% |
| CP Canadian Pacific Kansas City | 0.24% | 19,165 | $1.3M | No change |
| COIN Coinbase Global Inc. Class A | 0.22% | 7,370 | $1.3M | Reduce -30.5% |
| PYPL PayPal Holdings Inc. | 0.22% | 19,380 | $1.3M | Reduce -7.5% |
| NSC Norfolk Southern Corp. | 0.22% | 5,285 | $1.3M | New |
| PAAS Pan American Silver Corp. | 0.22% | 47,655 | $1.2M | New |
| ABBV Abbvie Inc. | 0.18% | 4,983 | $1.0M | New |
| V Visa Inc. Class A | 0.18% | 2,976 | $1.0M | Reduce -4.3% |
| AAPL Apple Inc. | 0.18% | 4,663 | $1.0M | Reduce -15.4% |
| ERO Ero Copper Corp. | 0.18% | 85,000 | $1.0M | New |
| JPM JPMorgan Chase & Co. | 0.17% | 3,858 | $946K | Reduce -4.7% |
| AVGO Broadcom Inc. | 0.16% | 5,395 | $903K | Add +25.1% |
| LLY Eli Lilly & Co. | 0.16% | 1,089 | $899K | Reduce -7.6% |
| COST Costco Wholesale Corp. | 0.15% | 877 | $829K | Reduce -19.9% |
| WMT Walmart Inc. | 0.14% | 9,373 | $823K | Reduce -10.2% |
| META Meta Platforms Inc. Class A | 0.14% | 1,425 | $821K | Reduce -11.0% |
| BSX Boston Scientific Corp. | 0.14% | 8,078 | $815K | Reduce -8.3% |
| AMZN Amazon.com Inc. | 0.14% | 4,217 | $802K | Reduce -25.0% |
| GOOG Alphabet Inc. Class C | 0.14% | 5,059 | $790K | Reduce -3.5% |
| HWM Howmet Aerospace Inc. | 0.13% | 5,912 | $767K | Reduce -14.7% |
| TMUS T-Mobile US Inc. | 0.13% | 2,853 | $761K | Reduce -9.6% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.13% | 6,199 | $755K | No change |
| XYZ Block Inc. | 0.13% | 13,695 | $744K | No change |
| C Citigroup Inc. | 0.13% | 10,145 | $720K | New |
| GEV GE Vernova Inc. | 0.13% | 2,335 | $713K | New |
| MA Mastercard Inc. Class A | 0.12% | 1,268 | $695K | No change |
| HD Home Depot Inc. | 0.12% | 1,896 | $695K | New |
| GS Goldman Sachs Group Inc. | 0.12% | 1,265 | $691K | Reduce -11.7% |
| BLK BlackRock Inc. | 0.12% | 729 | $690K | Reduce -11.4% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.12% | 16,017 | $668K | New |
| MAG Mag Silver Corp. | 0.12% | 43,000 | $657K | New |
| CME Cme Group Inc. | 0.10% | 2,120 | $562K | No change |
| RBLX Roblox Corp. Class A | 0.10% | 9,356 | $545K | No change |
| UEC Uranium Energy Corp. | 0.09% | 112,625 | $538K | New |
| HOOD Robinhood Markets Inc. Class A | 0.09% | 12,359 | $514K | New |
| HUT Hut 8 Corp. | 0.09% | 42,798 | $497K | Reduce -42.8% |
| AMD Advanced Micro Devices | 0.07% | 3,783 | $389K | No change |
| DNN Denison Mines Corp. | 0.05% | 235,000 | $306K | Reduce -73.9% |
Options reported separately and not counted above: STATE STR SPDR S&P 500 ETF T puts ($32.2M).
Portfolio Sells Q4 2024 → Q1 2025
| SU Suncor Energy Inc. | Reduce -95.1% | 0.52% | −8.40 |
| BTE Baytex Energy Corp. | Reduce -87.7% | 1.10% | −8.25 |
| VRN Veren Inc. | Reduce -58.8% | 10.11% | −7.12 |
| PDS Precision Drilling Corp. | Sold out | 0.00% | −5.82 |
| ARCH Arch Resources Inc. | Sold out | 0.00% | −3.37 |
| DVN Devon Energy Corp. | Reduce -77.8% | 0.66% | −1.68 |
| OVV Ovintiv Inc. | Sold out | 0.00% | −1.45 |
| PR Permian Resources Corp. Class A | Reduce -44.4% | 0.97% | −0.67 |
| BNS Bank of Nova Scotia | Sold out | 0.00% | −0.47 |
| PWR Quanta Services Inc. | Sold out | 0.00% | −0.32 |
| NVDA Nvidia Corp. | Reduce -33.7% | 0.32% | −0.22 |
| NEE Nextera Energy Inc. | Sold out | 0.00% | −0.22 |
| DLR Digital Realty Trust Inc. | Sold out | 0.00% | −0.21 |
| VST Vistra Corp. | Sold out | 0.00% | −0.21 |
| SRE Sempra | Sold out | 0.00% | −0.21 |
| OKE Oneok Inc. | Sold out | 0.00% | −0.20 |
| DNN Denison Mines Corp. | Reduce -73.9% | 0.05% | −0.20 |
| COIN Coinbase Global Inc. Class A | Reduce -30.5% | 0.22% | −0.20 |
| CEG Constellation Energy | Sold out | 0.00% | −0.19 |
| WM Waste Management Inc. | Sold out | 0.00% | −0.19 |
| HUT Hut 8 Corp. | Reduce -42.8% | 0.09% | −0.16 |
| NOW ServiceNow Inc. | Sold out | 0.00% | −0.14 |
| ORCL Oracle Corp. | Sold out | 0.00% | −0.13 |
| APH Amphenol Corp. Class A | Sold out | 0.00% | −0.12 |
| HUBB Hubbell Inc. | Sold out | 0.00% | −0.11 |
| SPGI S&P Global Inc. | Sold out | 0.00% | −0.11 |
| XOM Exxon Mobil Corp. | Sold out | 0.00% | −0.11 |
| ICE Intercontinental Exchange Inc. | Sold out | 0.00% | −0.11 |
| SOBO South Bow Corp. | Sold out | 0.00% | −0.07 |
| PYPL PayPal Holdings Inc. | Reduce -7.5% | 0.22% | −0.06 |
| AMZN Amazon.com Inc. | Reduce -25.0% | 0.14% | −0.06 |
| UNP Union Pacific Corp. | Reduce -23.8% | 0.32% | −0.05 |
| MSFT Microsoft Corp. | Reduce -7.7% | 0.42% | −0.04 |
| AAPL Apple Inc. | Reduce -15.4% | 0.18% | −0.04 |
| GOOG Alphabet Inc. Class C | Reduce -3.5% | 0.14% | −0.02 |
| COST Costco Wholesale Corp. | Reduce -19.9% | 0.15% | −0.01 |
| BLK BlackRock Inc. | Reduce -11.4% | 0.12% | −0.01 |
| GS Goldman Sachs Group Inc. | Reduce -11.7% | 0.12% | −0.01 |
| WMT Walmart Inc. | Reduce -10.2% | 0.14% | −0.01 |
| META Meta Platforms Inc. Class A | Reduce -11.0% | 0.14% | −0.00 |
| JPM JPMorgan Chase & Co. | Reduce -4.7% | 0.17% | +0.01 |
| LLY Eli Lilly & Co. | Reduce -7.6% | 0.16% | +0.01 |
| HWM Howmet Aerospace Inc. | Reduce -14.7% | 0.13% | +0.01 |
| BSX Boston Scientific Corp. | Reduce -8.3% | 0.14% | +0.02 |
| TMUS T-Mobile US Inc. | Reduce -9.6% | 0.13% | +0.02 |
| V Visa Inc. Class A | Reduce -4.3% | 0.18% | +0.03 |
| ENB Enbridge Inc. | Reduce -1.8% | 0.82% | +0.10 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -2.8% | 5.39% | +0.13 |
| CNL Collective Mining Ltd. | Reduce -28.7% | 0.63% | +0.25 |
Portfolio Buys Q4 2024 → Q1 2025
| EQT Eqt Corp. | Add +200.0% | 14.07% | +10.41 |
| EXE Expand Energy Corp. | Add +100.0% | 15.64% | +9.31 |
| CNQ Canadian Natural Resources | Add +63.9% | 16.71% | +7.46 |
| AR Antero Resources Corp. | New | 3.55% | +3.55 |
| AEM Agnico Eagle Mines Ltd. | New | 1.21% | +1.21 |
| KGC Kinross Gold Corp. | New | 1.18% | +1.18 |
| ALG Alamo Group Inc. | New | 1.08% | +1.08 |
| VNOM Viper Energy Inc. | New | 0.79% | +0.79 |
| CM Can Imperial BK of Commerce | New | 0.50% | +0.50 |
| VZLA Vizsla Silver Corp. | New | 0.47% | +0.47 |
| IAG Iamgold Corp. | New | 0.46% | +0.46 |
| TRP TC Energy Corp. | New | 0.37% | +0.37 |
| FCX Freeport-McMoran Inc. | New | 0.37% | +0.37 |
| CCJ Cameco Corp. | New | 0.36% | +0.36 |
| WPM Wheaton Precious Metals Corp. | New | 0.33% | +0.33 |
| NSC Norfolk Southern Corp. | New | 0.22% | +0.22 |
| PAAS Pan American Silver Corp. | New | 0.22% | +0.22 |
| ABBV Abbvie Inc. | New | 0.18% | +0.18 |
| ERO Ero Copper Corp. | New | 0.18% | +0.18 |
| AMT American Tower Corp. | Add +20.8% | 0.45% | +0.17 |
| C Citigroup Inc. | New | 0.13% | +0.13 |
| GEV GE Vernova Inc. | New | 0.13% | +0.13 |
| HD Home Depot Inc. | New | 0.12% | +0.12 |
| BAC Bank of America Corp. | New | 0.12% | +0.12 |
| SBAC SBA Communications Corp. | Add +30.4% | 0.33% | +0.12 |
| MAG Mag Silver Corp. | New | 0.12% | +0.12 |
| FTS Fortis Inc. | Add +1.4% | 0.55% | +0.10 |
| UEC Uranium Energy Corp. | New | 0.09% | +0.09 |
| MFC Manulife Financial Corp. | Add +6.9% | 0.57% | +0.09 |
| WCN Waste Connections Inc. | Add +3.3% | 0.41% | +0.09 |
| HOOD Robinhood Markets Inc. Class A | New | 0.09% | +0.09 |
| TU Telus Corp. | Add +3.4% | 0.50% | +0.09 |
| DUK Duke Energy Corp. | Add +7.3% | 0.26% | +0.07 |
| SLF Sun Life Financial Inc. | Add +4.2% | 0.63% | +0.06 |
| CMS CMS Energy Corp. | Add +4.9% | 0.26% | +0.06 |
| SO The Southern Co. | Add +5.8% | 0.25% | +0.06 |
| TLN Talen Energy Corp. | Add +11.6% | 0.26% | +0.05 |
| RY Royal Bank of Canada | Add +6.1% | 0.52% | +0.05 |
| PEG Public Service Enterprise GP | Add +11.8% | 0.24% | +0.04 |
| AVGO Broadcom Inc. | Add +25.1% | 0.16% | −0.00 |
| EQIX Equinix Inc. | Add +0.9% | 0.25% | −0.01 |
| NXE Nexgen Energy Ltd. | Add +7.0% | 0.30% | −0.07 |
Options Activity Q4 2024 → Q1 2025
| STATE STR SPDR S&P 500 ETF T | put | Add +1.8% | 57,500 | $32.2M |
| ISHARES TR | put | Sold out | 300,000 | $26.2Mbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 162 | $1.1B | SU, CVE, DVN, FANG, BTE |
| Q1 2026 | 147 | $845.8M | SU, CVE, RIG, PARR, CCJ |
| Q4 2025 | 158 | $842.5M | EXE, AR, CVE, EQT, VNOM |
| Q3 2025 | 132 | $724.5M | EXE, AR, RRC, EQT, CVE |
| Q2 2025 | 85 | $516.7M | EXE, EQT, RRC, AR, SPY |
| Q1 2025 | 90 | $569.5M | CNQ, EXE, EQT, VRN, SPY |
| Q4 2024 | 87 | $629.4M | VRN, BTE, CNQ, SU, EXE |
| Q3 2024 | 83 | $761.8M | CVE, CNQ, BTE, VRN, PDS |
| Q2 2024 | 99 | $930.4M | CVE, BTE, VRN, CNQ, PDS |
| Q1 2024 | 94 | $789.3M | CRESCENT PT ENERGY CORP, BTE, CVE, PDS, SU |