Ninepoint Partners LP

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 12, 2025), Ninepoint Partners LP reported 132 stock positions worth $724.5 million. Its top holding was Expand Energy (EXE) at 13.2% of the portfolio, followed by Antero Resources (AR, 10.4%) and Range Resources (RRC, 10.4%). Compared with Q2 2025, it opened 62 new positions, sold out of 15, added to 29 and reduced 25. The biggest buy was Cenovus Energy (CVE, shares +490%) and the biggest sale Eqt (EQT, shares −25%).

Most Recent 13F
Q2 2026
Location
TORONTO, A6
CIK
0001715635
Portfolio Value
$724.5M (Q3 2025)
SEC Filing
0001715635-25-000007 ↗ filed Nov 12, 2025

Holdings Value

0$500.0M$1.0B$1.5B Q1 2024: $789.3M Q1 2024 Q2 2024: $930.4M Q2 2024 Q3 2024: $761.8M Q3 2024 Q4 2024: $629.4M Q4 2024 Q1 2025: $569.5M Q1 2025 Q2 2025: $516.7M Q2 2025 Q3 2025: $724.5M $724.5M Q3 2025 Q4 2025: $842.5M Q4 2025 Q1 2026: $845.8M Q1 2026 Q2 2026: $1.1B Q2 2026

Holdings 132 stocks · $724.5M
EXE Expand Energy Corp. 13.20% 900,000 $95.6M Add +12.5%
AR Antero Resources Corp. 10.42% 2,250,000 $75.5M Add +60.7%
RRC Range Resources Corp. 10.39% 2,000,000 $75.3M Add +33.3%
EQT Eqt Corp. 9.05% 1,204,390 $65.6M Reduce -24.7%
CVE Cenovus Energy Inc. 8.30% 3,540,000 $60.1M Add +490.0%
FANG Diamondback Energy Inc. 6.22% 315,000 $45.1M New
SPY SS SPDR S&P 500 ETF Trust-US 4.64% 50,500 $33.6M Reduce -3.3%
RIG Transocean Ltd. 2.58% 6,000,000 $18.7M New
ENB Enbridge Inc. 1.83% 262,660 $13.3M Add +154.1%
AEM Agnico Eagle Mines Ltd. 1.62% 69,774 $11.8M Add +9.6%
KGC Kinross Gold Corp. 1.60% 466,820 $11.6M Reduce -12.2%
AGI Alamos Gold Inc. Class A 1.47% 305,000 $10.6M New
CCJ Cameco Corp. 1.32% 114,369 $9.6M Add +128.7%
B Barrick Mining Corp. 1.22% 270,666 $8.9M New
SOBO South Bow Corp. 1.08% 275,600 $7.8M Reduce -8.1%
RY Royal Bank of Canada 0.96% 47,273 $7.0M Add +81.4%
CNL Collective Mining Ltd. 0.94% 470,000 $6.8M Add +22.1%
SHOP Shopify Inc. Class A 0.87% 42,412 $6.3M New
VZLA Vizsla Silver Corp. 0.84% 1,401,925 $6.1M No change
SU Suncor Energy Inc. 0.81% 140,874 $5.9M Add +73.9%
VNOM Viper Energy Inc. Class A 0.79% 150,000 $5.7M New
IAG Iamgold Corp. 0.75% 418,900 $5.4M No change
CHRD Chord Energy Corp. 0.69% 50,000 $5.0M No change
CNI Canadian Natl Railway Co. 0.68% 52,437 $4.9M New
TRP TC Energy Corp. 0.63% 84,325 $4.6M Add +88.5%
PR Permian Resources Corp. Class A 0.62% 350,000 $4.5M No change
NVDA Nvidia Corp. 0.58% 22,570 $4.2M Add +6.9%
MSFT Microsoft Corp. 0.53% 7,390 $3.8M Add +15.5%
MFC Manulife Financial Corp. 0.52% 120,435 $3.8M Reduce -4.3%
NXE Nexgen Energy Ltd. 0.47% 380,000 $3.4M No change
CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BANK OF CO 0.46% 41,382 $3.3M Reduce -15.3%
FTS Fortis Inc. 0.42% 59,695 $3.0M Reduce -2.2%
SLF Sun Life Financial Inc. 0.40% 48,580 $2.9M Reduce -0.1%
TU Telus Corp. 0.40% 183,906 $2.9M Reduce -4.2%
CNQ Canadian Natural Resources 0.38% 86,196 $2.8M Reduce -4.6%
WPM Wheaton Precious Metals Corp. 0.38% 24,391 $2.7M No change
PTEN Patterson-Uti Energy Inc. 0.36% 500,000 $2.6M New
HOOD Robinhood Markets Inc. Class A 0.34% 17,132 $2.5M Add +10.3%
AMT American Tower Corp. 0.32% 12,214 $2.3M Add +4.0%
TD Toronto-Dominion Bank 0.31% 28,192 $2.3M New
COIN Coinbase Global Inc. Class A 0.31% 6,611 $2.2M Add +7.2%
UNP Union Pacific Corp. 0.31% 9,433 $2.2M Add +8.7%
FCX Freeport-McMoran Inc. 0.30% 55,000 $2.2M Reduce -8.3%
ORLA Orla Mining Ltd. filed as ORLA MNG LTD NEW 0.26% 175,000 $1.9M New
CEG Constellation Energy 0.26% 5,706 $1.9M Add +5.1%
PAAS Pan American Silver Corp. 0.25% 47,655 $1.8M No change
MTZ Mastec Inc. 0.25% 8,361 $1.8M New
BCE Bce Inc. 0.24% 75,658 $1.8M New
NSC Norfolk Southern Corp. 0.24% 5,865 $1.8M New
PPL PPL Corp. 0.24% 47,235 $1.8M Add +9.4%
AEE Ameren Corporation 0.24% 16,351 $1.7M Add +17.0%
NI Nisource Inc. 0.23% 39,268 $1.7M Add +8.9%
ETR Entergy Corp. 0.23% 18,117 $1.7M New
PWR Quanta Services Inc. 0.23% 4,064 $1.7M New
AEP American Electric Power 0.23% 14,607 $1.6M Add +2.2%
DUK Duke Energy Corp. 0.23% 13,248 $1.6M Add +5.4%
VST Vistra Corp. 0.22% 8,309 $1.6M New
CP Canadian Pacific Kansas City 0.22% 20,984 $1.6M Add +9.5%
WTRG Essential Utilities Inc. 0.21% 38,999 $1.6M New
DLR Digital Realty Trust Inc. 0.21% 8,860 $1.5M New
ERO Ero Copper Corp. 0.21% 75,000 $1.5M Reduce -11.8%
UEC Uranium Energy Corp. 0.21% 112,625 $1.5M No change
ACM Aecom 0.21% 11,437 $1.5M New
HUT Hut 8 Corp. 0.21% 42,798 $1.5M No change
EQIX Equinix Inc. 0.21% 1,900 $1.5M Add +6.8%
LNG Cheniere Energy Inc. 0.20% 6,291 $1.5M No change
TRGP Targa Resources Corp. 0.20% 8,814 $1.5M No change
AVGO Broadcom Inc. 0.20% 4,443 $1.5M Reduce -26.5%
MA Mastercard Inc. Class A 0.20% 2,573 $1.5M Add +85.4%
AAPL Apple Inc. 0.19% 5,367 $1.4M Add +631.2%
RBLX Roblox Corp. Class A 0.18% 9,356 $1.3M No change
GOOG Alphabet Inc. Class C 0.17% 4,939 $1.2M Reduce -11.4%
META Meta Platforms Inc. Class A 0.16% 1,569 $1.2M Add +6.1%
PYPL PayPal Holdings Inc. 0.15% 16,658 $1.1M No change
AMZN Amazon.com Inc. 0.14% 4,532 $995K No change
JPM JPMorgan Chase & Co. 0.14% 3,126 $986K Reduce -20.8%
NEM Newmont Corp. 0.13% 11,000 $927K New
AMD Advanced Micro Devices 0.12% 5,328 $862K No change
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.11% 5,517 $797K Reduce -8.4%
GEMI Gemini Space Station Inc. Class A 0.10% 30,000 $719K New
WMT Walmart Inc. 0.10% 6,691 $690K Reduce -30.9%
COST Costco Wholesale Corp. 0.09% 720 $666K Reduce -20.7%
ORCL Oracle Corp. 0.09% 2,318 $652K Reduce -55.4%
CME Cme Group Inc. 0.08% 2,120 $573K No change
CRCL Circle Internet Group Inc. 0.08% 4,250 $563K Add +183.3%
TSM Taiwan Semiconductor-SP ADR 0.08% 1,999 $558K New
GE General Electric filed as GE AEROSPACE 0.07% 1,780 $535K New
ABBV Abbvie Inc. 0.07% 2,282 $528K New
DNN Denison Mines Corp. 0.07% 190,000 $523K Reduce -19.1%
BLK BlackRock Inc. 0.07% 448 $522K Reduce -38.5%
JNJ Johnson & Johnson 0.07% 2,815 $522K New
GS Goldman Sachs Group Inc. 0.07% 648 $516K Reduce -46.2%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.07% 9,848 $508K New
MCD McDonald's Corp. 0.07% 1,670 $507K New
CSCO Cisco Systems Inc. 0.07% 7,388 $505K New
XOM Exxon Mobil Corp. 0.07% 4,476 $505K New
LLY Eli Lilly & Co. 0.07% 658 $502K New
SAP Sap SE-Sponsored ADR 0.07% 1,825 $488K Reduce -24.3%
HD Home Depot Inc. 0.07% 1,193 $483K New
DG Dollar General Corp. 0.04% 2,903 $300K New
TCEHY Tencent Holdings Ltd.-Uns ADR 0.04% 3,282 $279K New
HDB HDFC Bank Ltd.-ADR 0.04% 8,171 $279K New
CAT Caterpillar Inc. 0.04% 581 $277K New
HWM Howmet Aerospace Inc. 0.04% 1,349 $265K New
APH Amphenol Corp. Class A 0.04% 2,120 $262K Reduce -75.4%
WELL Welltower Inc. 0.04% 1,466 $261K New
TMO Thermo Fisher Scientific Inc. 0.04% 523 $254K New
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.03% 2,166 $248K New
GEV GE Vernova Inc. 0.03% 401 $247K Reduce -72.2%
KO The Coca-Cola Co. 0.03% 3,698 $245K New
NDAQ Nasdaq Inc. 0.03% 2,516 $223K New
NTRA Natera Inc. 0.03% 1,368 $220K New
GRAB Grab Holdings Ltd. Class A 0.03% 35,870 $216K New
APP AppLovin Corp. Class A 0.03% 280 $201K New
ZG Zillow Group Inc. Class A 0.03% 2,556 $190K New
RDNT Radnet Inc. 0.02% 2,134 $163K New
WAY Waystar Holding Corp. 0.02% 4,252 $161K New
MPWR Monolithic Power Systems Inc. 0.02% 162 $149K New
ASND Ascendis Pharma A/S 0.02% 749 $149K New
ARGX Argenx SE - ADR 0.02% 200 $148K New
BE Bloom Energy Corp. Class A 0.02% 1,624 $137K New
PL Planet Labs PBC 0.02% 9,347 $121K New
CLS Celestica Inc. 0.02% 486 $120K New
AER Aercap Holdings NV 0.02% 984 $119K New
NBIS Nebius Group NV 0.02% 1,048 $118K New
MELI MercadoLibre Inc. 0.02% 48 $112K New
NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD 0.02% 6,995 $112K New
ALAB Astera Labs Inc. 0.02% 561 $110K New
CPNG Coupang Inc. 0.02% 3,399 $109K New
CTVA Corteva Inc. 0.01% 1,176 $80K New
DOCN Digitalocean Holdings Inc. 0.01% 2,250 $77K New
SPOT Spotify Technology SA 0.01% 109 $76K New

Options reported separately and not counted above: STATE STR SPDR S&P 500 ETF T puts ($34.3M).

Portfolio Sells Q2 2025 → Q3 2025
EQT Eqt Corp. Reduce -24.7% 9.05% −9.01
ALG Alamo Group Inc. Sold out 0.00% −1.70
SPY SS SPDR S&P 500 ETF Trust-US Reduce -3.3% 4.64% −1.60
NOG Northern Oil and Gas Inc. Sold out 0.00% −0.82
VNOM Viper Energy Inc. Sold out 0.00% −0.74
WCN Waste Connections Inc. Sold out 0.00% −0.43
SOBO South Bow Corp. Reduce -8.1% 1.08% −0.43
SBAC SBA Communications Corp. Sold out 0.00% −0.39
TLN Talen Energy Corp. Sold out 0.00% −0.37
CMS CMS Energy Corp. Sold out 0.00% −0.28
ET Energy Transfer LP Sold out 0.00% −0.28
MFC Manulife Financial Corp. Reduce -4.3% 0.52% −0.26
SLF Sun Life Financial Inc. Reduce -0.1% 0.40% −0.22
CM Can Imperial BK of Commerce Reduce -15.3% 0.46% −0.21
FCX Freeport-McMoran Inc. Reduce -8.3% 0.30% −0.21
TU Telus Corp. Reduce -4.2% 0.40% −0.20
V Visa Inc. Class A Sold out 0.00% −0.19
CNQ Canadian Natural Resources Reduce -4.6% 0.38% −0.17
BSX Boston Scientific Corp. Sold out 0.00% −0.16
FTS Fortis Inc. Reduce -2.2% 0.42% −0.15
ETN Eaton Corp. PLC Sold out 0.00% −0.14
DELL Dell Technologies -C Sold out 0.00% −0.14
TMUS T-Mobile US Inc. Sold out 0.00% −0.13
ORCL Oracle Corp. Reduce -55.4% 0.09% −0.13
APH Amphenol Corp. Class A Reduce -75.4% 0.04% −0.13
AVGO Broadcom Inc. Reduce -26.5% 0.20% −0.12
GEV GE Vernova Inc. Reduce -72.2% 0.03% −0.11
GS Goldman Sachs Group Inc. Reduce -46.2% 0.07% −0.09
WMT Walmart Inc. Reduce -30.9% 0.10% −0.09
JPM JPMorgan Chase & Co. Reduce -20.8% 0.14% −0.09
COST Costco Wholesale Corp. Reduce -20.7% 0.09% −0.08
BLK BlackRock Inc. Reduce -38.5% 0.07% −0.08
SAP Sap SE-Sponsored ADR Reduce -24.3% 0.07% −0.07
MAG Mag Silver Corp. Sold out 0.00% −0.07
EQX Equinox Gold Corp. Sold out 0.00% −0.07
ERO Ero Copper Corp. Reduce -11.8% 0.21% −0.07
TJX TJX Companies Inc. Reduce -8.4% 0.11% −0.03
GOOG Alphabet Inc. Class C Reduce -11.4% 0.17% −0.03
DNN Denison Mines Corp. Reduce -19.1% 0.07% −0.01
KGC Kinross Gold Corp. Reduce -12.2% 1.60% −0.01

Portfolio Buys Q2 2025 → Q3 2025
CVE Cenovus Energy Inc. Add +490.0% 8.30% +6.72
FANG Diamondback Energy Inc. New 6.22% +6.22
RIG Transocean Ltd. New 2.58% +2.58
AGI Alamos Gold Inc. Class A New 1.47% +1.47
B Barrick Mining Corp. New 1.22% +1.22
ENB Enbridge Inc. Add +154.1% 1.83% +0.92
SHOP Shopify Inc. Class A New 0.87% +0.87
VNOM Viper Energy Inc. Class A New 0.79% +0.79
CNI Canadian Natl Railway Co. New 0.68% +0.68
CCJ Cameco Corp. Add +128.7% 1.32% +0.61
PTEN Patterson-Uti Energy Inc. New 0.36% +0.36
TD Toronto-Dominion Bank New 0.31% +0.31
RY Royal Bank of Canada Add +81.4% 0.96% +0.30
ORLA Orla Mining Ltd. New 0.26% +0.26
MTZ Mastec Inc. New 0.25% +0.25
BCE Bce Inc. New 0.24% +0.24
NSC Norfolk Southern Corp. New 0.24% +0.24
ETR Entergy Corp. New 0.23% +0.23
PWR Quanta Services Inc. New 0.23% +0.23
SU Suncor Energy Inc. Add +73.9% 0.81% +0.23
VST Vistra Corp. New 0.22% +0.22
WTRG Essential Utilities Inc. New 0.21% +0.21
DLR Digital Realty Trust Inc. New 0.21% +0.21
TRP TC Energy Corp. Add +88.5% 0.63% +0.21
ACM Aecom New 0.21% +0.21
AAPL Apple Inc. Add +631.2% 0.19% +0.16
AEM Agnico Eagle Mines Ltd. Add +9.6% 1.62% +0.16
NEM Newmont Corp. New 0.13% +0.13
CNL Collective Mining Ltd. Add +22.1% 0.94% +0.12
GEMI Gemini Space Station Inc. Class A New 0.10% +0.10
TSM Taiwan Semiconductor-SP ADR New 0.08% +0.08
GE General Electric New 0.07% +0.07
ABBV Abbvie Inc. New 0.07% +0.07
JNJ Johnson & Johnson New 0.07% +0.07
BAC Bank of America Corp. New 0.07% +0.07
MCD McDonald's Corp. New 0.07% +0.07
CSCO Cisco Systems Inc. New 0.07% +0.07
XOM Exxon Mobil Corp. New 0.07% +0.07
LLY Eli Lilly & Co. New 0.07% +0.07
HD Home Depot Inc. New 0.07% +0.07
HOOD Robinhood Markets Inc. Class A Add +10.3% 0.34% +0.06
MA Mastercard Inc. Class A Add +85.4% 0.20% +0.05
DG Dollar General Corp. New 0.04% +0.04
TCEHY Tencent Holdings Ltd.-Uns ADR New 0.04% +0.04
HDB HDFC Bank Ltd.-ADR New 0.04% +0.04
CAT Caterpillar Inc. New 0.04% +0.04
HWM Howmet Aerospace Inc. New 0.04% +0.04
WELL Welltower Inc. New 0.04% +0.04
TMO Thermo Fisher Scientific Inc. New 0.04% +0.04
DIS The Walt Disney Co. New 0.03% +0.03

Options Activity Q2 2025 → Q3 2025
ISHARES TR put Sold out 600,000 $53.0Mbefore exit
STATE STR SPDR S&P 500 ETF T put Reduce -15.6% 51,500 $34.3M

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 162$1.1BSU, CVE, DVN, FANG, BTE
Q1 2026 147$845.8MSU, CVE, RIG, PARR, CCJ
Q4 2025 158$842.5MEXE, AR, CVE, EQT, VNOM
Q3 2025 132$724.5MEXE, AR, RRC, EQT, CVE
Q2 2025 85$516.7MEXE, EQT, RRC, AR, SPY
Q1 2025 90$569.5MCNQ, EXE, EQT, VRN, SPY
Q4 2024 87$629.4MVRN, BTE, CNQ, SU, EXE
Q3 2024 83$761.8MCVE, CNQ, BTE, VRN, PDS
Q2 2024 99$930.4MCVE, BTE, VRN, CNQ, PDS
Q1 2024 94$789.3MCRESCENT PT ENERGY CORP, BTE, CVE, PDS, SU