SIG North Trading, ULC
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), SIG North Trading, ULC reported 81 stock positions worth $498.5 million. Its top holding was Telus (TU) at 22.2% of the portfolio, followed by Bank of Nova Scotia (BNS, 13.4%) and Rogers Communications Class B (RCI, 8.5%). Compared with Q4 2025, it opened 10 new positions, sold out of 10, added to 29 and reduced 39. The biggest buy was Telus (TU, shares +43%) and the biggest sale an exit from Can Imperial BK of Commerce (CM).
- Most Recent 13F
- Q2 2026
- Location
- Bala Cynwyd, PA
- CIK
- 0001868643
- Portfolio Value
- $498.5M (Q1 2026)
- SEC Filing
- 0001868643-26-000005 ↗ filed May 15, 2026
Holdings Value
Holdings 81 stocks · $498.5M
| TU Telus Corp. | 22.23% | 8,639,446 | $110.8M | Add +42.9% |
| BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA B C | 13.41% | 964,746 | $66.9M | Add +26.0% |
| RCI Rogers Communications Inc. Class B | 8.46% | 1,097,381 | $42.2M | Reduce -32.8% |
| BCE Bce Inc. | 7.54% | 1,488,567 | $37.6M | Add +1186.1% |
| TD Toronto-Dominion Bank | 5.56% | 296,897 | $27.7M | Add +179.3% |
| MFC Manulife Financial Corp. | 3.23% | 467,903 | $16.1M | Add +23.7% |
| NTR Nutrien Ltd. | 3.01% | 199,134 | $15.0M | Add +285.7% |
| B Barrick Mining Corp. | 2.87% | 350,852 | $14.3M | Add +13.6% |
| ENB Enbridge Inc. | 2.68% | 246,700 | $13.4M | Reduce -76.4% |
| TRP TC Energy Corp. | 2.64% | 210,444 | $13.2M | Add +125.3% |
| SLF Sun Life Financial Inc. | 2.44% | 194,641 | $12.2M | Reduce -25.1% |
| AG First Majestic Silver Corp. | 1.72% | 398,147 | $8.6M | Reduce -26.5% |
| BEP Brookfield Renewable Partner | 1.43% | 218,648 | $7.1M | Reduce -14.7% |
| BTG B2GOLD Corp. | 1.25% | 1,376,582 | $6.2M | Add +301.6% |
| VET Vermilion Energy Inc. | 1.12% | 405,024 | $5.6M | Reduce -56.1% |
| PSLV Sprott Physical Silver Trust | 1.11% | 226,976 | $5.5M | Add +160.3% |
| SOBO South Bow Corp. | 0.92% | 137,208 | $4.6M | Add +156.5% |
| TRI Thomson Reuters Corp. | 0.91% | 50,344 | $4.5M | New |
| TAC Transalta Corp. | 0.85% | 322,752 | $4.2M | Add +115.3% |
| KGC Kinross Gold Corp. | 0.71% | 116,564 | $3.6M | Reduce -45.0% |
| EQX Equinox Gold Corp. | 0.71% | 244,789 | $3.5M | Reduce -68.6% |
| SHOP Shopify Inc. Class A | 0.70% | 29,413 | $3.5M | Add +94.0% |
| TFII Tfi International Inc. filed as TRANSFORCE INC | 0.70% | 32,058 | $3.5M | Reduce -26.7% |
| WPM Wheaton Precious Metals Corp. | 0.62% | 23,774 | $3.1M | New |
| IAG Iamgold Corp. | 0.60% | 159,391 | $3.0M | Add +102.0% |
| CP Canadian Pacific Kansas City | 0.60% | 37,755 | $3.0M | Add +170.4% |
| AEM Agnico Eagle Mines Ltd. | 0.57% | 13,957 | $2.8M | New |
| TECK Teck Resources Ltd.-CLS B | 0.51% | 48,713 | $2.5M | New |
| EXK Endeavour Silver Corp. | 0.49% | 262,994 | $2.4M | Add +10.7% |
| SVM Silvercorp Metals Inc. | 0.47% | 219,828 | $2.4M | Reduce -3.2% |
| EGO Eldorado Gold Corp. | 0.46% | 67,117 | $2.3M | Reduce -19.2% |
| CNI Canadian Natl Railway Co. | 0.45% | 21,616 | $2.2M | Reduce -67.4% |
| MDA Mda Space Ltd. | 0.44% | 86,769 | $2.2M | New |
| ORLA Orla Mining Ltd. filed as ORLA MNG LTD NEW | 0.39% | 120,320 | $1.9M | Add +50.5% |
| GIB Cgi Inc. | 0.38% | 25,881 | $1.9M | Add +17.7% |
| GFL GFL Environmental Inc.-Sub VT | 0.37% | 44,624 | $1.9M | Add +105.0% |
| IMO Imperial Oil Ltd. | 0.36% | 13,749 | $1.8M | Reduce -30.3% |
| PBA Pembina Pipeline Corp. | 0.32% | 35,764 | $1.6M | Reduce -94.9% |
| GIL Gildan Activewear Inc. | 0.31% | 28,184 | $1.6M | Add +10.8% |
| RY Royal Bank of Canada | 0.31% | 9,586 | $1.6M | Reduce -64.0% |
| BAM Brookfield Asset Mgmt-A | 0.31% | 34,775 | $1.5M | Reduce -42.1% |
| AQN Algonquin Power & Utilities | 0.31% | 250,563 | $1.5M | Reduce -3.9% |
| UUUU Energy Fuels Inc. | 0.31% | 83,331 | $1.5M | Reduce -9.6% |
| CVE Cenovus Energy Inc. | 0.30% | 57,259 | $1.5M | Reduce -47.9% |
| SA Seabridge Gold Inc. | 0.30% | 52,529 | $1.5M | Add +10.2% |
| CGAU Centerra Gold Inc. | 0.30% | 83,596 | $1.5M | Reduce -39.9% |
| BTE Baytex Energy Corp. | 0.29% | 319,160 | $1.4M | Reduce -55.0% |
| FNV Franco-Nevada Corp. | 0.28% | 5,659 | $1.4M | New |
| CDE Coeur Mining Inc. | 0.28% | 74,058 | $1.4M | Add +3.1% |
| PHYS Sprott Physical Gold Trust | 0.27% | 38,651 | $1.4M | New |
| DSGX The Descartes Systems Grp | 0.25% | 17,606 | $1.3M | Reduce -13.9% |
| TFPM Triple Flag Precious Met | 0.22% | 30,929 | $1.1M | New |
| PRMB Primo Brands Corp. | 0.19% | 49,257 | $928K | No change |
| MGA Magna International Inc. | 0.17% | 15,566 | $869K | Add +102.3% |
| BEPC Brookfield Renewable Corp. | 0.17% | 20,720 | $825K | Reduce -71.1% |
| FSM Fortuna Mining Corp. | 0.16% | 80,614 | $800K | Reduce -58.2% |
| CAE Cae Inc. | 0.15% | 29,482 | $768K | Reduce -25.4% |
| ATS Ats Corp. | 0.15% | 26,275 | $741K | Reduce -10.4% |
| ASTL Algoma Steel Group Inc. | 0.14% | 171,817 | $710K | Add +68.6% |
| NXE Nexgen Energy Ltd. | 0.14% | 60,177 | $698K | Reduce -79.4% |
| AGI Alamos Gold Inc. Class A | 0.13% | 14,396 | $640K | Reduce -8.7% |
| ERO Ero Copper Corp. | 0.13% | 23,824 | $635K | Add +145.5% |
| NEM Newmont Corp. | 0.13% | 5,801 | $628K | Reduce -89.0% |
| OR Or Royalties Inc. | 0.12% | 15,869 | $603K | Add +41.7% |
| SSRM SSR Mining Inc. | 0.12% | 19,795 | $582K | Reduce -10.8% |
| TLRY Tilray Brands Inc. | 0.09% | 71,747 | $464K | Add +51.1% |
| CGC Canopy Growth Corp. | 0.09% | 465,493 | $442K | No change |
| SUNC Sunococorp LLC | 0.07% | 5,984 | $369K | Add +25.6% |
| OBE Obsidian Energy Ltd. | 0.07% | 36,648 | $347K | Reduce -8.3% |
| BIP Brookfield Infrastructure Pa | 0.06% | 8,535 | $308K | Reduce -81.4% |
| WFG West Fraser Timber Co. Ltd. | 0.06% | 4,643 | $303K | Reduce -89.8% |
| CRON Cronos Group Inc. | 0.06% | 117,468 | $295K | Add +14.0% |
| LSPD Lightspeed Commerce Inc. | 0.06% | 31,698 | $284K | Reduce -19.2% |
| HBM Hudbay Minerals Inc. | 0.06% | 13,135 | $275K | New |
| PAAS Pan American Silver Corp. | 0.05% | 4,992 | $273K | Reduce -97.7% |
| STN Stantec Inc. | 0.05% | 2,795 | $241K | Reduce -11.3% |
| STKL Sunopta Inc. | 0.04% | 33,222 | $215K | Reduce -15.1% |
| ACB Aurora Cannabis Inc. | 0.03% | 42,034 | $137K | Reduce -31.9% |
| DNN Denison Mines Corp. | 0.01% | 17,600 | $62K | New |
| BLDP Ballard Power Systems Inc. | 0.01% | 24,638 | $60K | Reduce -46.8% |
| VFF Village Farms International | 0.01% | 16,189 | $46K | No change |
Options reported separately and not counted above: RCI puts ($271.4M), BMO puts ($226.3M), CM calls ($202.0M), RY puts ($198.1M), SU puts ($196.5M), RY calls ($171.9M), TU puts ($170.7M), ENB puts ($156.1M), CNQ puts ($148.7M), TRP puts ($139.0M), BNS puts ($136.4M), CM puts ($126.3M), and 193 more.
Portfolio Sells Q4 2025 → Q1 2026
| CM Can Imperial BK of Commerce | Sold out | 0.00% | −8.00 |
| CNQ Canadian Natural Resources | Sold out | 0.00% | −6.28 |
| ENB Enbridge Inc. | Reduce -76.4% | 2.68% | −6.09 |
| PBA Pembina Pipeline Corp. | Reduce -94.9% | 0.32% | −4.38 |
| RCI Rogers Communications Inc. Class B | Reduce -32.8% | 8.46% | −2.33 |
| PAAS Pan American Silver Corp. | Reduce -97.7% | 0.05% | −1.94 |
| SU Suncor Energy Inc. | Sold out | 0.00% | −1.69 |
| EQX Equinox Gold Corp. | Reduce -68.6% | 0.71% | −1.21 |
| NEM Newmont Corp. | Reduce -89.0% | 0.13% | −0.79 |
| CNI Canadian Natl Railway Co. | Reduce -67.4% | 0.45% | −0.70 |
| RY Royal Bank of Canada | Reduce -64.0% | 0.31% | −0.48 |
| BMO Bank of Montreal | Sold out | 0.00% | −0.44 |
| WFG West Fraser Timber Co. Ltd. | Reduce -89.8% | 0.06% | −0.42 |
| SLF Sun Life Financial Inc. | Reduce -25.1% | 2.44% | −0.40 |
| KGC Kinross Gold Corp. | Reduce -45.0% | 0.71% | −0.33 |
| NXE Nexgen Energy Ltd. | Reduce -79.4% | 0.14% | −0.33 |
| BEPC Brookfield Renewable Corp. | Reduce -71.1% | 0.17% | −0.32 |
| BAM Brookfield Asset Mgmt-A | Reduce -42.1% | 0.31% | −0.24 |
| VET Vermilion Energy Inc. | Reduce -56.1% | 1.12% | −0.23 |
| BIP Brookfield Infrastructure Pa | Reduce -81.4% | 0.06% | −0.22 |
| FSM Fortuna Mining Corp. | Reduce -58.2% | 0.16% | −0.17 |
| XLE SS Energy Select Sector | Sold out | 0.00% | −0.15 |
| PDS Precision Drilling Corp. | Sold out | 0.00% | −0.13 |
| BTE Baytex Energy Corp. | Reduce -55.0% | 0.29% | −0.11 |
| TFII Tfi International Inc. | Reduce -26.7% | 0.70% | −0.09 |
| DSGX The Descartes Systems Grp | Reduce -13.9% | 0.25% | −0.06 |
| EGO Eldorado Gold Corp. | Reduce -19.2% | 0.46% | −0.06 |
| CAE Cae Inc. | Reduce -25.4% | 0.15% | −0.06 |
| CGAU Centerra Gold Inc. | Reduce -39.9% | 0.30% | −0.05 |
| HUT Hut 8 Corp. | Sold out | 0.00% | −0.05 |
| MEOH Methanex Corp. | Sold out | 0.00% | −0.04 |
| LAC Lithium Americas Corp. | Sold out | 0.00% | −0.03 |
| LSPD Lightspeed Commerce Inc. | Reduce -19.2% | 0.06% | −0.03 |
| NG Novagold Resources Inc. | Sold out | 0.00% | −0.02 |
| CVE Cenovus Energy Inc. | Reduce -47.9% | 0.30% | −0.02 |
| ACB Aurora Cannabis Inc. | Reduce -31.9% | 0.03% | −0.02 |
| BLDP Ballard Power Systems Inc. | Reduce -46.8% | 0.01% | −0.01 |
| STN Stantec Inc. | Reduce -11.3% | 0.05% | −0.00 |
| ATS Ats Corp. | Reduce -10.4% | 0.15% | +0.01 |
| STKL Sunopta Inc. | Reduce -15.1% | 0.04% | +0.02 |
| AGI Alamos Gold Inc. Class A | Reduce -8.7% | 0.13% | +0.02 |
| OBE Obsidian Energy Ltd. | Reduce -8.3% | 0.07% | +0.03 |
| AQN Algonquin Power & Utilities | Reduce -3.9% | 0.31% | +0.03 |
| SSRM SSR Mining Inc. | Reduce -10.8% | 0.12% | +0.03 |
| IMO Imperial Oil Ltd. | Reduce -30.3% | 0.36% | +0.06 |
| UUUU Energy Fuels Inc. | Reduce -9.6% | 0.31% | +0.07 |
| AG First Majestic Silver Corp. | Reduce -26.5% | 1.72% | +0.13 |
| SVM Silvercorp Metals Inc. | Reduce -3.2% | 0.47% | +0.14 |
| BEP Brookfield Renewable Partner | Reduce -14.7% | 1.43% | +0.22 |
Portfolio Buys Q4 2025 → Q1 2026
| TU Telus Corp. | Add +42.9% | 22.23% | +8.29 |
| BCE Bce Inc. | Add +1186.1% | 7.54% | +7.05 |
| TD Toronto-Dominion Bank | Add +179.3% | 5.56% | +3.80 |
| BNS Bank of Nova Scotia | Add +26.0% | 13.41% | +3.53 |
| NTR Nutrien Ltd. | Add +285.7% | 3.01% | +2.46 |
| TRP TC Energy Corp. | Add +125.3% | 2.64% | +1.74 |
| BTG B2GOLD Corp. | Add +301.6% | 1.25% | +0.98 |
| TRI Thomson Reuters Corp. | New | 0.91% | +0.91 |
| MFC Manulife Financial Corp. | Add +23.7% | 3.23% | +0.83 |
| PSLV Sprott Physical Silver Trust | Add +160.3% | 1.11% | +0.75 |
| SOBO South Bow Corp. | Add +156.5% | 0.92% | +0.66 |
| WPM Wheaton Precious Metals Corp. | New | 0.62% | +0.62 |
| AEM Agnico Eagle Mines Ltd. | New | 0.57% | +0.57 |
| TAC Transalta Corp. | Add +115.3% | 0.85% | +0.52 |
| B Barrick Mining Corp. | Add +13.6% | 2.87% | +0.52 |
| TECK Teck Resources Ltd.-CLS B | New | 0.51% | +0.51 |
| MDA Mda Space Ltd. | New | 0.44% | +0.44 |
| CP Canadian Pacific Kansas City | Add +170.4% | 0.60% | +0.42 |
| IAG Iamgold Corp. | Add +102.0% | 0.60% | +0.37 |
| FNV Franco-Nevada Corp. | New | 0.28% | +0.28 |
| PHYS Sprott Physical Gold Trust | New | 0.27% | +0.27 |
| SHOP Shopify Inc. Class A | Add +94.0% | 0.70% | +0.27 |
| TFPM Triple Flag Precious Met | New | 0.22% | +0.22 |
| GFL GFL Environmental Inc.-Sub VT | Add +105.0% | 0.37% | +0.21 |
| ORLA Orla Mining Ltd. | Add +50.5% | 0.39% | +0.20 |
| MGA Magna International Inc. | Add +102.3% | 0.17% | +0.10 |
| EXK Endeavour Silver Corp. | Add +10.7% | 0.49% | +0.10 |
| ERO Ero Copper Corp. | Add +145.5% | 0.13% | +0.08 |
| ASTL Algoma Steel Group Inc. | Add +68.6% | 0.14% | +0.07 |
| HBM Hudbay Minerals Inc. | New | 0.06% | +0.06 |
| CDE Coeur Mining Inc. | Add +3.1% | 0.28% | +0.05 |
| OR Or Royalties Inc. | Add +41.7% | 0.12% | +0.05 |
| SA Seabridge Gold Inc. | Add +10.2% | 0.30% | +0.05 |
| GIL Gildan Activewear Inc. | Add +10.8% | 0.31% | +0.04 |
| SUNC Sunococorp LLC | Add +25.6% | 0.07% | +0.03 |
| GIB Cgi Inc. | Add +17.7% | 0.38% | +0.02 |
| TLRY Tilray Brands Inc. | Add +51.1% | 0.09% | +0.02 |
| DNN Denison Mines Corp. | New | 0.01% | +0.01 |
| CRON Cronos Group Inc. | Add +14.0% | 0.06% | +0.01 |
Options Activity Q4 2025 → Q1 2026
| RCI Rogers Communications Inc. Class B | put | Reduce -12.6% | 7,058,600 | $271.4M |
| BMO Bank of Montreal | put | Reduce -24.5% | 1,671,900 | $226.3M |
| CM Can Imperial BK of Commerce | call | Add +28.9% | 2,131,600 | $202.0M |
| RY Royal Bank of Canada | put | Reduce -12.6% | 1,224,600 | $198.1M |
| SU Suncor Energy Inc. | put | Reduce -10.8% | 2,972,600 | $196.5M |
| RY Royal Bank of Canada | call | Reduce -17.0% | 1,062,300 | $171.9M |
| TU Telus Corp. | put | Add +16.6% | 13,305,600 | $170.7M |
| ENB Enbridge Inc. | put | Reduce -9.8% | 2,883,200 | $156.1M |
| CNQ Canadian Natural Resources | put | Reduce -6.9% | 3,052,500 | $148.7M |
| TRP TC Energy Corp. | put | Reduce -35.0% | 2,219,800 | $139.0M |
| BNS Bank of Nova Scotia | put | Reduce -24.8% | 1,968,400 | $136.4M |
| CM Can Imperial BK of Commerce | put | Reduce -39.3% | 1,332,800 | $126.3M |
| TD Toronto-Dominion Bank | put | Reduce -32.1% | 1,307,900 | $122.0M |
| BCE Bce Inc. | put | Reduce -6.8% | 4,747,600 | $119.8M |
| BNS Bank of Nova Scotia | call | Reduce -18.7% | 1,660,400 | $115.1M |
| ENB Enbridge Inc. | call | Reduce -21.9% | 1,430,800 | $77.5M |
| RCI Rogers Communications Inc. Class B | call | Reduce -0.4% | 1,988,700 | $76.5M |
| MFC Manulife Financial Corp. | put | Reduce -20.1% | 2,198,400 | $75.7M |
| SLF Sun Life Financial Inc. | put | Reduce -29.0% | 1,134,200 | $71.0M |
| CVE Cenovus Energy Inc. | put | Reduce -8.6% | 2,524,900 | $67.0M |
| BMO Bank of Montreal | call | Reduce -47.0% | 490,000 | $66.3M |
| CCJ Cameco Corp. | call | Add +16.7% | 577,700 | $62.7M |
| TU Telus Corp. | call | Reduce -18.2% | 4,735,500 | $60.8M |
| TRP TC Energy Corp. | call | Reduce -1.5% | 901,700 | $56.4M |
| CNQ Canadian Natural Resources | call | Reduce -3.5% | 1,147,200 | $55.9M |
| AEM Agnico Eagle Mines Ltd. | call | Reduce -24.9% | 272,900 | $55.4M |
| BCE Bce Inc. | call | Reduce -64.2% | 2,109,200 | $53.2M |
| SU Suncor Energy Inc. | call | Add +76.1% | 748,200 | $49.5M |
| AEM Agnico Eagle Mines Ltd. | put | Reduce -27.6% | 209,400 | $42.5M |
| NTR Nutrien Ltd. | call | Add +52.1% | 554,000 | $41.8M |
| PBA Pembina Pipeline Corp. | put | Reduce -55.2% | 922,300 | $41.3M |
| SLF Sun Life Financial Inc. | call | Add +4.1% | 580,200 | $36.3M |
| TD Toronto-Dominion Bank | call | Reduce -60.2% | 384,200 | $35.8M |
| CVE Cenovus Energy Inc. | call | Reduce -20.1% | 1,324,300 | $35.1M |
| CCJ Cameco Corp. | put | Add +34.3% | 321,800 | $35.0M |
| BN Brookfield Corp. | call | Reduce -2.4% | 748,000 | $30.3M |
| BIP Brookfield Infrastructure Pa | put | Add +0.3% | 799,900 | $28.9M |
| PBA Pembina Pipeline Corp. | call | Add +96.6% | 603,500 | $27.0M |
| FNV Franco-Nevada Corp. | call | Reduce -9.3% | 107,700 | $26.6M |
| BEP Brookfield Renewable Partner | put | Add +9.9% | 785,500 | $25.6M |
| BIP Brookfield Infrastructure Pa | call | Reduce -3.5% | 680,700 | $24.6M |
| CLS Celestica Inc. | call | Add +23.9% | 87,100 | $24.5M |
| TECK Teck Resources Ltd.-CLS B | put | Add +50.1% | 463,000 | $24.0M |
| SHOP Shopify Inc. Class A | call | Add +54.5% | 201,400 | $23.9M |
| B Barrick Mining Corp. | call | Reduce -43.5% | 525,600 | $21.4M |
| CNI Canadian Natl Railway Co. | call | Reduce -48.4% | 202,800 | $20.8M |
| CP Canadian Pacific Kansas City | call | Add +0.8% | 252,900 | $19.9M |
| TECK Teck Resources Ltd.-CLS B | call | Add +12.1% | 382,300 | $19.8M |
| CLS Celestica Inc. | put | Add +20.1% | 67,500 | $19.0M |
| CNI Canadian Natl Railway Co. | put | Add +14.3% | 174,600 | $17.9M |
Showing the first 50 of 207.
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 |