SIG North Trading, ULC Q4 2025 Filing

Filed February 17, 2026

Portfolio Value

$5.5B

Holdings

107

Report Date

Q4 2025

Filing Type

13F-HR

All Holdings (107 positions)

#	Stock	Shares	Value	% Portfolio	Type
1	RYROYAL BK CDA	2,708,034	$461.7M	8.42%	Put
2	RCI/BROGERS COMMUNICATIONS INC	11,708,847	$441.8M	8.06%	Put
3	BMOBANK MONTREAL QUE	3,159,148	$410.0M	7.48%	Put
4	BNSBANK NOVA SCOTIA HALIFAX	5,427,085	$399.9M	7.30%	Put
5	CMCANADIAN IMPERIAL BANK OF CO	4,353,224	$394.4M	7.20%	Put
6	TTELUS CORPORATION	23,243,656	$306.1M	5.59%	Put
7	ENBENBRIDGE INC	6,074,387	$290.5M	5.30%	Put
8	TDTORONTO DOMINION BK ONT	2,996,306	$282.3M	5.15%	Put
9	BCEBCE INC	11,105,445	$264.5M	4.83%	Put
10	TRPTC ENERGY CORP	4,421,696	$243.2M	4.44%	Put
11	CRCCANADIAN NAT RES LTD	5,528,826	$187.2M	3.41%	Put
12	SUSUNCOR ENERGY INC NEW	3,973,643	$176.3M	3.22%	Put
13	LIESUN LIFE FINANCIAL INC.	2,414,642	$150.7M	2.75%	Put
14	MFCMANULIFE FINL CORP	3,425,943	$124.3M	2.27%	Put
15	PPLPEMBINA PIPELINE CORP	3,072,732	$116.9M	2.13%	Put
16	AEMAGNICO EAGLE MINES LTD	652,900	$110.7M	2.02%	Put
17	CVECENOVUS ENERGY INC	4,530,916	$76.7M	1.40%	Put
18	BBARRICK MNG CORP	1,726,595	$75.2M	1.37%	Put
19	CCOCAMECO CORP	734,700	$67.2M	1.23%	Put
20	CNRCANADIAN NATL RY CO	611,801	$60.5M	1.10%	Put
21	BIPBROOKFIELD INFRAST PARTNERS	1,548,364	$53.8M	0.98%	Put
22	BNBROOKFIELD CORP	905,350	$41.5M	0.76%	Put
23	CLSCELESTICA INC	126,500	$37.4M	0.68%	Put
24	SHOPSHOPIFY INC	208,563	$33.6M	0.61%	Put
25	VETVERMILION ENERGY INC	3,909,629	$32.6M	0.59%	Put
26	NTRNUTRIEN LTD	520,728	$32.1M	0.59%	Put
27	PAASPAN AMERN SILVER CORP	613,995	$31.8M	0.58%	Put
28	TECK/BTECK RESOURCES LTD	649,400	$31.1M	0.57%	Put
29	KGCKINROSS GOLD CORP	1,062,045	$29.9M	0.55%	Put
30	WPMWHEATON PRECIOUS METALS CORP	250,600	$29.4M	0.54%	Put
31	BEPBROOKFIELD RENEWABLE PARTNER	1,071,429	$28.9M	0.53%	Put
32	FTSFORTIS INC	540,000	$28.0M	0.51%	Put
33	FNVFRANCO NEV CORP	134,900	$28.0M	0.51%	Put
34	CPCANADIAN PACIFIC KANSAS CITY	354,262	$26.1M	0.48%	Put
35	AGFIRST MAJESTIC SILVER CORP	1,180,059	$19.7M	0.36%	Put
36	EMAEMERA INC	393,400	$19.4M	0.35%	Put
37	TACTRANSALTA CORP	1,464,215	$18.5M	0.34%	Put
38	HUTHUT 8 CORP	393,702	$18.1M	0.33%	Put
39	MGAMAGNA INTL INC	331,296	$17.7M	0.32%	Put
40	EQXEQUINOX GOLD CORP	1,168,429	$16.4M	0.30%	Put
41	WCNWASTE CONNECTIONS INC	79,900	$14.0M	0.26%	Put
42	IMOIMPERIAL OIL LTD	153,536	$13.3M	0.24%	Put
43	BAMBROOKFIELD ASSET MANAGMT LTD	251,771	$13.2M	0.24%	Put
44	WFGWEST FRASER TIMBER CO LTD	191,577	$11.7M	0.21%	Put
45	TFIITFI INTL INC	100,320	$10.4M	0.19%	Put
46	NEMNEWMONT CORP	87,764	$8.8M	0.16%	Put
47	HBMHUDBAY MINERALS INC	426,200	$8.5M	0.15%	Put
48	PSLV/USPROTT ASSET MANAGEMENT LP	340,286	$8.0M	0.15%	Put
49	QSRRESTAURANT BRANDS INTL INC	113,300	$7.7M	0.14%	Put
50	BTOB2GOLD CORP	1,693,712	$7.6M	0.14%	Put
51	SOBOSOUTH BOW CORP	271,198	$7.4M	0.14%	Put
52	RBARB GLOBAL INC	68,000	$7.0M	0.13%	Put
53	PDSPRECISION DRILLING CORP	93,848	$6.7M	0.12%	Put
54	IMGIAMGOLD CORP	392,489	$6.5M	0.12%	Put
55	GIB/ACGI INC	67,781	$6.3M	0.11%	Put
56	OLAORLA MNG LTD NEW	461,547	$6.2M	0.11%	Put
57	AGIALAMOS GOLD INC NEW	157,269	$6.1M	0.11%	Put
58	NXENEXGEN ENERGY LTD	654,372	$6.0M	0.11%	Put
59	XLESELECT SECTOR SPDR TR	118,546	$5.3M	0.10%	Put
60	GILGILDAN ACTIVEWEAR INC	79,742	$5.0M	0.09%	Put
61	GLXYGALAXY DIGITAL INC.	218,000	$4.9M	0.09%	Put
62	TRITHOMSON REUTERS CORP	36,500	$4.8M	0.09%	Put
63	DSGDESCARTES SYS GROUP INC	54,253	$4.8M	0.09%	Put
64	ELDELDORADO GOLD CORP NEW	120,964	$4.3M	0.08%	Put
65	OROR ROYALTIES INC.	121,697	$4.3M	0.08%	Put
66	SEASEABRIDGE GOLD INC	144,078	$4.3M	0.08%	Put
67	OTXOPEN TEXT CORP	124,500	$4.1M	0.07%	Call
68	BEPCBROOKFIELD RENEWABLE CORP	105,529	$4.0M	0.07%	Put
69	OVVOVINTIV INC	102,300	$4.0M	0.07%	Put
70	MEOHMETHANEX CORP	92,062	$3.7M	0.07%	Put
71	EFRENERGY FUELS INC	247,709	$3.6M	0.07%	Put
72	EDRENDEAVOUR SILVER CORP	364,573	$3.4M	0.06%	Put
73	BTEBAYTEX ENERGY CORP	1,040,950	$3.4M	0.06%	Put
74	FVIFORTUNA MNG CORP	322,442	$3.2M	0.06%	Put
75	BHCBAUSCH HEALTH COS INC	438,300	$3.0M	0.06%	Put
76	LSPDLIGHTSPEED COMMERCE INC	250,415	$3.0M	0.06%	Put
77	AQN.TOALGONQUIN PWR UTILS CORP	465,663	$2.9M	0.05%	Put
78	SVMSILVERCORP METALS INC	331,439	$2.8M	0.05%	Put
79	CGCENTERRA GOLD INC	191,016	$2.7M	0.05%	Call
80	CAECAE INC	72,398	$2.2M	0.04%	Put
81	GFLGFL ENVIRONMENTAL INC	47,967	$2.1M	0.04%	Put
82	DOOBRP INC	27,300	$1.9M	0.04%	Put
83	GOOSCANADA GOOSE HLDGS INC	148,500	$1.9M	0.04%	Put
84	WEEDCANOPY GROWTH CORP	1,639,823	$1.9M	0.03%	Put
85	BBBLACKBERRY LTD	466,500	$1.8M	0.03%	Put
86	EROERO COPPER CORP	56,105	$1.6M	0.03%	Put
87	STNSTANTEC INC	16,750	$1.6M	0.03%	Put
88	ATSATS CORPORATION	55,642	$1.5M	0.03%	Call
89	ASTLALGOMA STL GROUP INC	355,717	$1.5M	0.03%	Put
90	TLRYTILRAY BRANDS INC	155,047	$1.4M	0.03%	Put
91	CDECOEUR MNG INC	71,837	$1.3M	0.02%
92	SSRMSSR MINING IN	57,095	$1.3M	0.02%	Put
93	GRT-UGRANITE REAL ESTATE INVT TR	20,500	$1.2M	0.02%	Call
94	LACLITHIUM AMERS CORP NEW	229,177	$998K	0.02%	Put
95	NGNOVAGOLD RES INC	98,994	$921K	0.02%	Put
96	ACBAURORA CANNABIS INC	195,134	$822K	0.01%	Put
97	PRMBPRIMO BRANDS CORPORATION	49,257	$805K	0.01%
98	BLDPBALLARD PWR SYS INC NEW	200,138	$507K	0.01%	Put
99	CRONCRONOS GROUP INC	178,868	$470K	0.01%	Call
100	AAUCALLIED GOLD CORP	18,600	$425K	0.01%	Call

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