In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), SIG North Trading, ULC reported 66 stock positions worth $437.2 million . Its top holding was Bce (BCE) at 17.2% of the portfolio, followed by Toronto-Dominion Bank (TD, 14.5% ) and Telus (TU, 7.8% ). Compared with Q3 2024, it opened 18 new positions, sold out of 7, added to 27 and reduced 20. The biggest buy was Toronto-Dominion Bank (TD, shares +3702% ) and the biggest sale TC Energy (TRP, shares −54% ).
Location Bala Cynwyd, PA
CIK 0001868643
Portfolio Value $437.2M (Q4 2024) Holdings 66 stocks · $437.2M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q3 2024 BCE Bce Inc. 3,240,453 $75.1M Add +148.6% TD Toronto-Dominion Bank 1,193,894 $63.6M Add +3702.4% TU Telus Corp. 2,511,196 $34.1M Add +150.0% RY Royal Bank of Canada 260,133 $31.3M Add +927.7% RCI Rogers Communications Inc. Class B 1,000,498 $30.7M Add +178.9% TRP TC Energy Corp. 552,951 $25.7M Reduce -54.5% CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BK COMM 330,130 $20.9M Reduce -28.8% SU Suncor Energy Inc. 531,085 $18.9M Add +1932.9% NTR Nutrien Ltd. 384,821 $17.2M Add +123.5% CNQ Canadian Natural Resources 546,808 $16.9M Add +16.6% SHOP Shopify Inc. Class A 110,956 $11.8M Add +15.3% SLF Sun Life Financial Inc. 140,588 $8.3M Add +54.2% CVE Cenovus Energy Inc. 510,024 $7.7M Reduce -33.2% CNI Canadian Natl Railway Co. 69,264 $7.0M Add +2274.5% BITO Proshares Bitcoin ETF-Usd 279,883 $6.4M New VRN Veren Inc. 945,864 $4.9M Add +5.5% TECK Teck Resources Ltd.-CLS B 89,655 $3.6M New VET Vermilion Energy Inc. 381,079 $3.6M Add +84.2% B Barrick Gold Corp. 221,790 $3.4M Add +294.2% CCJ Cameco Corp. 66,360 $3.4M Add +87.8% NEM Newmont Corp. 89,138 $3.3M Reduce -2.9% BTE Baytex Energy Corp. 1,185,945 $3.1M Reduce -16.8% MFC Manulife Financial Corp. 91,439 $2.8M New PBA Pembina Pipeline Corp. 63,169 $2.3M Reduce -79.3% PAAS Pan American Silver Corp. 107,765 $2.2M Reduce -32.6% HUT Hut 8 Corp. 100,174 $2.1M New CP Canadian Pacific Kansas City 25,450 $1.8M Reduce -72.3% UUUU Energy Fuels Inc. 351,214 $1.8M Add +530.9% AG First Majestic Silver Corp. 318,180 $1.7M Add +68.4% SOBO South Bow Corp. 69,310 $1.6M Reduce -71.5% EQX Equinox Gold Corp. 317,840 $1.6M Add +103.5% FTS Fortis Inc. 37,066 $1.5M Add +73.8% PRMB Primo Brands Corp. 49,157 $1.5M New MAG Mag Silver Corp. 101,889 $1.4M Add +63.9% QSR Restaurant Brands Intern 18,810 $1.2M Reduce -59.4% BMO Bank of Montreal filed as BANK MONTREAL QUE 12,368 $1.2M Reduce -88.4% BTG B2GOLD Corp. 465,078 $1.1M Add +35.8% FSM Fortuna Mining Corp. 243,616 $1.0M Add +133.8% TAC Transalta Corp. 62,368 $883K New BB Blackberry Ltd. 231,475 $875K Add +32.1% NXE Nexgen Energy Ltd. 104,879 $692K New LAC Lithium Americas Corp. 217,819 $647K Add +139.6% AQN Algonquin Power & Utilities 138,332 $616K Reduce -18.1% SILV Silvercrest Metals Inc. 64,686 $589K Add +331.6% BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA HALIFAX 10,298 $553K Reduce -97.9% MGA Magna International Inc. 10,294 $430K New KGC Kinross Gold Corp. 44,447 $412K Add +35.9% OBE Obsidian Energy Ltd. 63,360 $367K Reduce -19.2% ASTL Algoma Steel Group Inc. 35,528 $347K Reduce -18.7% GRTUF Granite Real Estate Investme 5,447 $264K Reduce -16.2% SVM Silvercorp Metals Inc. 78,046 $234K New PDS Precision Drilling Corp. 3,802 $232K Reduce -83.8% DSGX The Descartes Systems Grp 1,992 $226K New EGO Eldorado Gold Corp. 14,433 $215K New LSPD Lightspeed Commerce Inc. 13,759 $210K New CGC Canopy Growth Corp. 75,946 $208K New SSRM SSR Mining Inc. 29,099 $203K Reduce -78.5% HBM Hudbay Minerals Inc. 22,196 $180K New EXK Endeavour Silver Corp. 43,548 $159K New SAND Sandstorm Gold Ltd. 21,531 $120K New CRON Cronos Group Inc. 50,568 $102K New ACB Aurora Cannabis Inc. 22,117 $94K Add +38.1% STKL Sunopta Inc. 12,122 $93K Reduce -44.2% CGAU Centerra Gold Inc. 15,355 $87K New TLRY Tilray Brands Inc. 13,471 $18K Reduce -76.6% VFF Village Farms International 16,189 $12K No change
Options reported separately and not counted above: BCE puts ($204.8M), RY puts ($176.8M), BMO puts ($174.3M), CM puts ($153.5M), TRP puts ($151.7M), RCI puts ($121.6M), TU puts ($120.7M), TD puts ($117.3M), PBA puts ($88.5M), SU puts ($82.9M), BMO calls ($76.7M), RY calls ($74.9M), and 165 more.
Portfolio Sells Q3 2024 → Q4 2024 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q3 2024 % Of Portfolio Change To Portfolio ▲ TRP TC Energy Corp. Reduce -54.5% 5.89% −12.02 BNS Bank of Nova Scotia Reduce -97.9% 0.13% −8.13 CM Can Imperial BK of Commerce Reduce -28.8% 4.77% −4.04 PBA Pembina Pipeline Corp. Reduce -79.3% 0.53% −3.36 BMO Bank of Montreal Reduce -88.4% 0.27% −2.71 CVE Cenovus Energy Inc. Reduce -33.2% 1.77% −2.19 CP Canadian Pacific Kansas City Reduce -72.3% 0.42% −2.01 SOBO South Bow Corp. Reduce -71.5% 0.37% −1.40 TFII Tfi International Inc. Sold out 0.00% −1.26 OVV Ovintiv Inc. Sold out 0.00% −0.95 NEM Newmont Corp. Reduce -2.9% 0.76% −0.76 QSR Restaurant Brands Intern Reduce -59.4% 0.28% −0.76 BTE Baytex Energy Corp. Reduce -16.8% 0.70% −0.61 PAAS Pan American Silver Corp. Reduce -32.6% 0.50% −0.54 PDS Precision Drilling Corp. Reduce -83.8% 0.05% −0.39 WPM Wheaton Precious Metals Corp. Sold out 0.00% −0.32 SSRM SSR Mining Inc. Reduce -78.5% 0.05% −0.19 AQN Algonquin Power & Utilities Reduce -18.1% 0.14% −0.14 OTEX Open Text Corp. Sold out 0.00% −0.11 AGI Alamos Gold Inc. Class A Sold out 0.00% −0.11 GOOS Canada Goose Holdings Inc. Sold out 0.00% −0.07 GRTUF Granite Real Estate Investme Reduce -16.2% 0.06% −0.06 ASTL Algoma Steel Group Inc. Reduce -18.7% 0.08% −0.06 OBE Obsidian Energy Ltd. Reduce -19.2% 0.08% −0.05 ORLA Orla Mining Ltd. Sold out 0.00% −0.03 TLRY Tilray Brands Inc. Reduce -76.6% 0.00% −0.03 STKL Sunopta Inc. Reduce -44.2% 0.02% −0.02
Portfolio Buys Q3 2024 → Q4 2024 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q3 2024 % Of Portfolio Change To Portfolio ▼ TD Toronto-Dominion Bank Add +3702.4% 14.54% +13.92 RY Royal Bank of Canada Add +927.7% 7.17% +6.19 SU Suncor Energy Inc. Add +1932.9% 4.33% +4.04 BCE Bce Inc. Add +148.6% 17.18% +3.12 TU Telus Corp. Add +150.0% 7.79% +2.57 RCI Rogers Communications Inc. Class B Add +178.9% 7.03% +2.56 CNI Canadian Natl Railway Co. Add +2274.5% 1.61% +1.50 BITO Proshares Bitcoin ETF-Usd New 1.46% +1.46 NTR Nutrien Ltd. Add +123.5% 3.94% +1.37 TECK Teck Resources Ltd.-CLS B New 0.83% +0.83 MFC Manulife Financial Corp. New 0.64% +0.64 HUT Hut 8 Corp. New 0.47% +0.47 B Barrick Gold Corp. Add +294.2% 0.79% +0.44 PRMB Primo Brands Corp. New 0.35% +0.35 UUUU Energy Fuels Inc. Add +530.9% 0.41% +0.32 SHOP Shopify Inc. Class A Add +15.3% 2.70% +0.31 SLF Sun Life Financial Inc. Add +54.2% 1.91% +0.27 CCJ Cameco Corp. Add +87.8% 0.78% +0.26 TAC Transalta Corp. New 0.20% +0.20 VET Vermilion Energy Inc. Add +84.2% 0.82% +0.19 NXE Nexgen Energy Ltd. New 0.16% +0.16 MGA Magna International Inc. New 0.10% +0.10 SILV Silvercrest Metals Inc. Add +331.6% 0.13% +0.09 FSM Fortuna Mining Corp. Add +133.8% 0.24% +0.09 LAC Lithium Americas Corp. Add +139.6% 0.15% +0.07 EQX Equinox Gold Corp. Add +103.5% 0.36% +0.07 BB Blackberry Ltd. Add +32.1% 0.20% +0.06 SVM Silvercorp Metals Inc. New 0.05% +0.05 FTS Fortis Inc. Add +73.8% 0.35% +0.05 DSGX The Descartes Systems Grp New 0.05% +0.05 EGO Eldorado Gold Corp. New 0.05% +0.05 AG First Majestic Silver Corp. Add +68.4% 0.40% +0.05 LSPD Lightspeed Commerce Inc. New 0.05% +0.05 CGC Canopy Growth Corp. New 0.05% +0.05 MAG Mag Silver Corp. Add +63.9% 0.32% +0.05 HBM Hudbay Minerals Inc. New 0.04% +0.04 EXK Endeavour Silver Corp. New 0.04% +0.04 SAND Sandstorm Gold Ltd. New 0.03% +0.03 CRON Cronos Group Inc. New 0.02% +0.02 CGAU Centerra Gold Inc. New 0.02% +0.02 KGC Kinross Gold Corp. Add +35.9% 0.09% −0.00 ACB Aurora Cannabis Inc. Add +38.1% 0.02% −0.01 BTG B2GOLD Corp. Add +35.8% 0.26% −0.07 VRN Veren Inc. Add +5.5% 1.11% −0.60 CNQ Canadian Natural Resources Add +16.6% 3.86% −0.96
Options Activity Q3 2024 → Q4 2024 Security Type Change vs Q3 2024 Underlying Shares Value ▼ BCE Bce Inc. put Add +91.3% 8,834,000 $204.8M RY Royal Bank of Canada put Add +24.1% 1,466,900 $176.8M BMO Bank of Montreal put Reduce -0.5% 1,795,600 $174.3M CM Can Imperial BK of Commerce put Add +9.2% 2,428,300 $153.5M TRP TC Energy Corp. put Add +10.8% 3,259,500 $151.7M RCI Rogers Communications Inc. Class B put Add +130.5% 3,957,500 $121.6M TU Telus Corp. put Add +59.6% 8,902,500 $120.7M TD Toronto-Dominion Bank put Add +120.0% 2,203,700 $117.3M PBA Pembina Pipeline Corp. put Add +0.2% 2,393,900 $88.5M SU Suncor Energy Inc. put Add +426.4% 2,322,500 $82.9M BMO Bank of Montreal call Add +16.9% 790,700 $76.7M RY Royal Bank of Canada call Reduce -26.5% 621,200 $74.9M CNQ Canadian Natural Resources put Add +116.1% 2,419,200 $74.7M BNS Bank of Nova Scotia put Reduce -13.8% 1,143,500 $61.4M TU Telus Corp. call Add +73.8% 4,322,600 $58.6M MFC Manulife Financial Corp. put Add +24.5% 1,740,200 $53.4M BCE Bce Inc. call Add +44.7% 2,039,400 $47.3M RCI Rogers Communications Inc. Class B call Add +44.3% 1,472,500 $45.2M BNS Bank of Nova Scotia call Add +21.9% 819,900 $44.0M ENB Enbridge Inc. put Add +8.7% 774,000 $32.8M SLF Sun Life Financial Inc. put Reduce -20.9% 545,900 $32.4M CVE Cenovus Energy Inc. put Add +195.6% 2,111,200 $32.0M CM Can Imperial BK of Commerce call Reduce -28.8% 462,200 $29.2M TD Toronto-Dominion Bank call Reduce -37.1% 521,100 $27.7M ENB Enbridge Inc. call Reduce -32.7% 572,000 $24.3M CCJ Cameco Corp. call Add +30.2% 467,000 $24.0M CCJ Cameco Corp. put Reduce -5.6% 440,600 $22.6M PBA Pembina Pipeline Corp. call Reduce -0.3% 483,600 $17.9M TRP TC Energy Corp. call Reduce -36.5% 373,100 $17.4M CNQ Canadian Natural Resources call Add +17.6% 554,900 $17.1M AEM Agnico Eagle Mines Ltd. call Reduce -36.8% 189,300 $14.8M CVE Cenovus Energy Inc. call Add +7.8% 873,600 $13.2M SHOP Shopify Inc. Class A call Reduce -43.5% 120,800 $12.8M SU Suncor Energy Inc. call Reduce -28.7% 357,700 $12.8M SHOP Shopify Inc. Class A put Reduce -5.0% 118,100 $12.6M CNI Canadian Natl Railway Co. call Add +0.7% 122,900 $12.5M CP Canadian Pacific Kansas City call Reduce -28.8% 148,600 $10.8M CNI Canadian Natl Railway Co. put Reduce -29.4% 104,900 $10.6M NTR Nutrien Ltd. call Reduce -50.4% 236,600 $10.6M TFII Tfi International Inc. call Add +137.5% 73,400 $9.9M MFC Manulife Financial Corp. call Reduce -25.1% 322,300 $9.9M B Barrick Gold Corp. call Reduce -20.0% 603,700 $9.4M BN Brookfield Corp. call Reduce -41.7% 155,600 $8.9M AEM Agnico Eagle Mines Ltd. put Reduce -42.5% 110,500 $8.6M FTS Fortis Inc. put Reduce -24.1% 168,600 $7.0M CLS Celestica Inc. call Reduce -41.5% 71,900 $6.6M WCN Waste Connections Inc. call Add +2.1% 34,600 $5.9M FNV Franco-Nevada Corp. call Reduce -33.0% 48,900 $5.8M MGA Magna International Inc. call Reduce -24.9% 130,900 $5.5M CP Canadian Pacific Kansas City put Add +9.1% 69,600 $5.0M
Showing the first 50 of 192.
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 79 $547.2M BNS, CM, TU, BCE, RCI Q1 2026 81 $498.5M TU, BNS, RCI, BCE, TD Q4 2025 81 $571.1M TU, RCI, BNS, ENB, CM Q3 2025 77 $649.3M BNS, RCI, TU, CNQ, BCE Q2 2025 77 $456.1M RCI, BNS, SU, CNQ, TU Q1 2025 76 $490.4M BCE, RCI, BNS, TU, RY Q4 2024 66 $437.2M BCE, TD, TU, RY, RCI Q3 2024 54 $322.7M TRP, BCE, CM, BNS, TU Q2 2024 79 $384.8M BCE, TD, TRP, BNS, TU Q1 2024 69 $273.5M RY, BNS, TD, CM, BCE