Ninepoint Partners LP
Long book
$845.8M
Q1 2026
Positions
147
Top-10 weight
57%
concentration
Last quarter
+18.6%
SPY +18.6%
Turnover
42%
of book per quarter
Strategy in plain words
auto-generated from filingsNinepoint Partners LP is a diversified fundamental manager, running a $845.8M US long book across 147 positions.
The portfolio is concentrated: the top 10 names carry 57% of the portfolio. The portfolio is actively managed, with meaningful quarterly turnover. Current anchor positions: SUNCOR ENERGY INC, CENOVUS ENERGY INC, TRANSOCEAN LTD, PAR PACIFIC HOLDINGS INC, CAMECO CORP.
Over the last 9 quarters its long book ran on average 1.9pp per quarter behind the S&P 500, beating the index in 3 of 9 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-0.4%
Q2 2024
-8.9%
Q3 2024
-5.1%
Q4 2024
-1.3%
Q1 2025
+6.4%
Q2 2025
+0.2%
Q3 2025
+3.3%
Q4 2025
+14.6%
Q1 2026
+18.6%
Sector allocation
Energy 48%
Materials 27%
Industrials 6%
Financials 6%
Technology 5%
Utilities 4%
Communications 2%
Consumer discretionary 1%
Long book by quarter
What does Ninepoint Partners own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| SU SUNCOR ENERGY INC | Energy | 2.0M | $131.0M | 15.5% | +890.1% |
| CVE CENOVUS ENERGY INC | Energy | 4.5M | $119.0M | 14.1% | Held |
| RIG TRANSOCEAN LTD | Energy | 7.0M | $46.4M | 5.5% | New |
| PARR PAR PACIFIC HOLDINGS INC | Energy | 550.0K | $34.5M | 4.1% | New |
| CCJ CAMECO CORP | Materials | 289.3K | $31.4M | 3.7% | +20.7% |
| KGC KINROSS GOLD CORP | Materials | 773.7K | $23.6M | 2.8% | +25.8% |
| HYMC HYCROFT MINING HOLDING CO-A | Materials | 638.0K | $22.5M | 2.7% | -15.7% |
| CNI CANADIAN NATL RAILWAY CO | Industrials | 206.3K | $21.2M | 2.5% | +69.8% |
| SHOP SHOPIFY INC - CLASS A | Technology | 176.2K | $20.9M | 2.5% | +62.3% |
| ENB ENBRIDGE INC | Energy | 374.8K | $20.3M | 2.4% | +16.0% |
| RY ROYAL BANK OF CANADA | Financials | 101.2K | $16.4M | 1.9% | +78.5% |
| TD TORONTO-DOMINION BANK | Financials | 173.3K | $16.2M | 1.9% | +69.4% |
| WPM WHEATON PRECIOUS METALS CORP | Materials | 116.6K | $15.3M | 1.8% | -6.7% |
| B BARRICK MINING CORP | Materials | 342.1K | $14.0M | 1.6% | +54.9% |
| AEM AGNICO EAGLE MINES LTD | Materials | 68.7K | $13.9M | 1.6% | -1.5% |
| AGI ALAMOS GOLD INC-CLASS A | Materials | 298.5K | $13.3M | 1.6% | -2.1% |
| BCE BCE INC | Communications | 488.5K | $12.3M | 1.5% | +41.6% |
| CDE COEUR MINING INC | Materials | 654.2K | $12.3M | 1.5% | Held |
| CNQ CANADIAN NATURAL RESOURCES | Energy | 236.1K | $11.5M | 1.4% | +3.3% |
| VZLA VIZSLA SILVER CORP | Materials | 3.4M | $11.3M | 1.3% | Held |
| VNOM VIPER ENERGY INC-CL A | Energy | 200.0K | $9.4M | 1.1% | -83.3% |
| PAAS PAN AMERICAN SILVER CORP | Materials | 161.3K | $8.8M | 1.0% | +39.5% |
| SOBO SOUTH BOW CORP | Energy | 250.0K | $8.3M | 1.0% | Held |
| IAG IAMGOLD CORP | Materials | 418.9K | $7.9M | 0.9% | Held |
| AU ANGLOGOLD ASHANTI PLC | Materials | 74.5K | $7.3M | 0.9% | +111117.9% |
| CTGO CONTANGO SILVER & GOLD INC | Materials | 361.9K | $6.8M | 0.8% | New |
| HL HECLA MINING CO | Materials | 358.6K | $6.7M | 0.8% | Held |
| CNL COLLECTIVE MINING LTD | Materials | 366.1K | $6.4M | 0.8% | -22.1% |
| TRP TC ENERGY CORP | Utilities | 84.0K | $5.3M | 0.6% | -6.6% |
| FRO FRONTLINE PLC | Industrials | 150.0K | $5.2M | 0.6% | New |
| CP CANADIAN PACIFIC KANSAS CITY | Industrials | 62.3K | $4.9M | 0.6% | +2848.7% |
| NXE NEXGEN ENERGY LTD | Materials | 355.0K | $4.1M | 0.5% | -6.6% |
| CM CAN IMPERIAL BK OF COMMERCE | Financials | 40.3K | $3.8M | 0.5% | +8.8% |
| ORLA ORLA MINING LTD | Materials | 222.5K | $3.6M | 0.4% | Held |
| NVDA NVIDIA CORP | Technology | 18.6K | $3.2M | 0.4% | -34.1% |
| FTS FORTIS INC | Utilities | 57.0K | $3.2M | 0.4% | -3.4% |
| MTZ MASTEC INC | Industrials | 9.3K | $3.0M | 0.4% | +9.8% |
| FCX FREEPORT-MCMORAN INC | Materials | 50.1K | $2.9M | 0.3% | +11.3% |
| WMT WALMART INC | Consumer discretionary | 20.4K | $2.5M | 0.3% | +204.2% |
| GLW CORNING INC | Industrials | 18.0K | $2.4M | 0.3% | +107.7% |
| NEM NEWMONT CORP | Materials | 19.9K | $2.2M | 0.3% | New |
| GOOGL ALPHABET INC-CL A | Technology | 7.5K | $2.1M | 0.3% | +178.9% |
| COST COSTCO WHOLESALE CORP | Consumer discretionary | 2.1K | $2.1M | 0.3% | +196.1% |
| UNP UNION PACIFIC CORP | Industrials | 8.6K | $2.1M | 0.2% | -4.4% |
| GOOG ALPHABET INC-CL C | Technology | 7.2K | $2.1M | 0.2% | -36.9% |
| TRGP TARGA RESOURCES CORP | Utilities | 8.1K | $2.0M | 0.2% | Held |
| WMB WILLIAMS COS INC | Utilities | 27.2K | $2.0M | 0.2% | -2.1% |
| NEE NEXTERA ENERGY INC | Utilities | 19.5K | $1.8M | 0.2% | +18.4% |
| CSX CSX CORP | Industrials | 43.7K | $1.8M | 0.2% | -10.7% |
| NI NISOURCE INC | Utilities | 37.7K | $1.8M | 0.2% | Held |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | Aug 11, 2026 | 149 | $1.40B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 161 | $904.2M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 12, 2025 | 133 | $758.8M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 5, 2025 | 87 | $607.4M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 6, 2025 | 91 | $601.7M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 10, 2025 | 89 | $688.7M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 7, 2024 | 86 | $922.6M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 15, 2024 | 102 | $1.05B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 13, 2024 | 98 | $944.0M | canonical | SEC ↗ |
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