New Positions
73 managers initiated
Top five by reported value
- Electrum Group LLC$136.2M
- BlackRock, Inc.$1.2M
- Swiss National Bank$914.2K
- STATE STREET CORP$726.4K
- Point72 Asset Management, L.P.$611.6K
Trilogy Metals Inc TORONTO STOCK EXCHANGE:TMQ
Institutional holders, quarter-over-quarter share deltas, and new and closed positions disclosed in Form 13F. Period 2025-12-31 · prior 2025-09-30.
73 new25 added26 reduced16 exited
Total Institutional Holders
124
as of 2025-12-31
Top Holder
Electrum Group LLC
$136.2M
Largest QoQ Increase
Electrum Group LLC
+31,604,741 sh
Largest QoQ Decrease
PAULSON & CO. INC.
-14,326,996 sh
New Positions(73)
Added To(25)
| Manager | Shares | Δ Shares | Value | Δ Value | % Δ |
|---|---|---|---|---|---|
| Toroso Investments, LLC | 18,752,440 | +15,127,311 | $80.8M | +$73.2M | 417.3% |
| TSP Capital Management Group, LLC | 6,731,000 | +16,000 | $29.0M | +$14.9M | 0.2% |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | 2,076,771 | +1,940,653 | $9.0M | +$8.7M | 1425.7% |
| JANE STREET GROUP, LLC | 1,057,692 | +608,646 | $4.6M | +$3.6M | 135.5% |
| Goehring & Rozencwajg Associates, LLC | 1,408,204 | +69,883 | $6.1M | +$3.3M | 5.2% |
| CITADEL ADVISORS LLC | 812,644 | +485,384 | $3.5M | +$2.8M | 148.3% |
| ALPS ADVISORS INC | 674,396 | +288,935 | $2.9M | +$2.1M | 75.0% |
| BANK OF AMERICA CORP /DE/ | 357,328 | +239,281 | $1.5M | +$1.3M | 202.7% |
| Walleye Capital LLC | 254,411 | +195,605 | $1.1M | +$973.0K | 332.6% |
| MORGAN STANLEY | 198,430 | +146,259 | $855.2K | +$745.7K | 280.3% |
| GOLDMAN SACHS GROUP INC | 159,914 | +40,857 | $689.2K | +$439.2K | 34.3% |
| Rockefeller Capital Management L.P. | 87,049 | +74,049 | $375.2K | +$347.9K | 569.6% |
| UBS Group AG | 71,308 | +71,298 | $307.3K | +$307.3K | 712980.0% |
| LPL Financial LLC | 54,506 | +25,922 | $234.9K | +$174.9K | 90.7% |
| MARSHALL WACE, LLP | 64,657 | +6,100 | $278.7K | +$155.7K | 10.4% |
| ADVISOR GROUP HOLDINGS, INC. | 22,685 | +22,669 | $97.8K | +$97.7K | 141681.3% |
| DIMENSIONAL FUND ADVISORS LP | 27,514 | +5,821 | $118.6K | +$73.0K | 26.8% |
| RAYMOND JAMES FINANCIAL INC | 21,015 | +10,971 | $90.6K | +$69.5K | 109.2% |
| Cypress Wealth Services, LLC | 21,100 | +1,500 | $90.9K | +$49.8K | 7.7% |
| Integrated Wealth Concepts LLC | 10,500 | +500 | $45.3K | +$24.3K | 5.0% |
| Global Retirement Partners, LLC | 2,056 | +2,023 | $8.9K | +$8.8K | 6130.3% |
| HARBOUR INVESTMENTS, INC. | 326 | +310 | $1.4K | +$1.4K | 1937.5% |
| NATIONAL BANK OF CANADA /FI/ | 378 | +327 | $1.5K | +$1.3K | 641.2% |
| Virtu Financial LLC | 21,207 | +8,337 | $91 | +$64 | 64.8% |
| CWM, LLC | 314 | +239 | $1 | +$1 | 318.7% |
Reduced(26)
| Manager | Shares | Δ Shares | Value | Δ Value | % Δ |
|---|---|---|---|---|---|
| Old West Investment Management, LLC | 4,679,087 | -7,486,465 | $20.2M | -$5.4M | -61.5% |
| ENVESTNET ASSET MANAGEMENT INC | 925,740 | -87,777 | $4.0M | +$1.9M | -8.7% |
| TWO SIGMA INVESTMENTS, LP | 325,091 | -1,630 | $1.4M | +$715.0K | -0.5% |
| MILLENNIUM MANAGEMENT LLC | 328,446 | -73,222 | $1.4M | +$572.1K | -18.2% |
| JPMORGAN CHASE & CO | 46 | -197,334 | $198 | -$414.3K | -100.0% |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | 245,439 | -158,660 | $1.1M | +$204.8K | -39.3% |
| Rangeley Capital, LLC | 87,000 | 0 | $375.0K | +$192.3K | 0.0% |
| Legacy Capital Group California, Inc. | 174,649 | -108,597 | $752.7K | +$157.9K | -38.3% |
| GROUP ONE TRADING, L.P. | 2,771 | -76,003 | $11.9K | -$153.5K | -96.5% |
| SPROTT INC. | 135,566 | -82,033 | $584.3K | +$127.3K | -37.7% |
| WILEY BROS.-AINTREE CAPITAL, LLC | 39,866 | -11,152 | $171.8K | +$64.7K | -21.9% |
| Pathstone Holdings, LLC | 20,000 | 0 | $86.2K | +$44.2K | 0.0% |
| IPG Investment Advisors LLC | 14,850 | 0 | $64.0K | +$32.8K | 0.0% |
| WELLS FARGO & COMPANY/MN | 2,427 | -8,925 | $10.5K | -$13.6K | -78.6% |
| Spire Wealth Management | 12,114 | -6,660 | $52.2K | +$12.8K | -35.5% |
| AdvisorNet Financial, Inc | 7,837 | -3,048 | $33.8K | +$10.9K | -28.0% |
| PNC Financial Services Group, Inc. | 2,000 | 0 | $8.6K | +$4.4K | 0.0% |
| CoreCap Advisors, LLC | 1,066 | 0 | $4.6K | +$2.4K | 0.0% |
| Royal Bank of Canada | 4,469 | -6,796 | $19.0K | +$2.0K | -60.3% |
| New England Capital Financial Advisors LLC | 333 | 0 | $1.4K | +$736 | 0.0% |
| NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO | 62 | 0 | $268 | +$138 | 0.0% |
| TD Waterhouse Canada Inc. | 50 | 0 | $215 | +$101 | 0.0% |
| Federation des caisses Desjardins du Quebec | 7,223 | -7,978 | $30.9K | -$66 | -52.5% |
| Avion Wealth | 8,400 | 0 | $36 | +$19 | 0.0% |
| Truvestments Capital LLC | 8 | 0 | $34 | +$17 | 0.0% |
| US BANCORP \DE\ | 6 | 0 | $26 | +$13 | 0.0% |
Sold Out(16)
| Manager | Shares | Δ Shares | Value | Δ Value | % Δ |
|---|---|---|---|---|---|
| PAULSON & CO. INC. | 0 | -14,326,996 | $0 | -$30.1M | — |
| Compass Wealth Management LLC | 0 | -29,863 | $0 | -$8.1M | — |
| DLD Asset Management, LP | 0 | -1,807,900 | $0 | -$3.8M | — |
| Bornite Capital Management LP | 0 | -1,000,000 | $0 | -$2.1M | — |
| WEXFORD CAPITAL LP | 0 | -714,350 | $0 | -$1.5M | — |
| Alyeska Investment Group, L.P. | 0 | -500,000 | $0 | -$1.1M | — |
| RENAISSANCE TECHNOLOGIES LLC | 0 | -243,500 | $0 | -$511.4K | — |
| GAM Holding AG | 0 | -200,000 | $0 | -$420.0K | — |
| TWO SIGMA ADVISERS, LP | 0 | -83,500 | $0 | -$175.3K | — |
| Cubist Systematic Strategies, LLC | 0 | -74,381 | $0 | -$156.2K | — |
| Qube Research & Technologies Ltd | 0 | -49,785 | $0 | -$104.5K | — |
| WOLVERINE TRADING, LLC | 0 | -17,400 | $0 | -$37.1K | — |
| EXENCIAL WEALTH ADVISORS, LLC | 0 | -11,190 | $0 | -$23.5K | — |
| Sound Income Strategies, LLC | 0 | -76 | $0 | -$498 | — |
| Glen Eagle Advisors, LLC | 0 | -166 | $0 | -$349 | — |
| SIMPLEX TRADING, LLC | 0 | -12,858 | $0 | -$27 | — |
Top Holders by reported value
Ranked by the dollar value reported on the latest Form 13F. Share counts reflect long positions as of 2025-12-31.
| Manager | Shares | $ Value | Δ Shares | QoQ % |
|---|---|---|---|---|
| Electrum Group LLC | 31,604,741 | $136.2M | +31,604,741 | — |
| Toroso Investments, LLC | 18,752,440 | $80.8M | +15,127,311 | 417.3% |
| TSP Capital Management Group, LLC | 6,731,000 | $29.0M | +16,000 | 0.2% |
| Old West Investment Management, LLC | 4,679,087 | $20.2M | -7,486,465 | -61.5% |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | 2,076,771 | $9.0M | +1,940,653 | 1425.7% |
| Goehring & Rozencwajg Associates, LLC | 1,408,204 | $6.1M | +69,883 | 5.2% |
| JANE STREET GROUP, LLC | 1,057,692 | $4.6M | +608,646 | 135.5% |
| ENVESTNET ASSET MANAGEMENT INC | 925,740 | $4.0M | -87,777 | -8.7% |
| CITADEL ADVISORS LLC | 812,644 | $3.5M | +485,384 | 148.3% |
| ALPS ADVISORS INC | 674,396 | $2.9M | +288,935 | 75.0% |
| BANK OF AMERICA CORP /DE/ | 357,328 | $1.5M | +239,281 | 202.7% |
| MILLENNIUM MANAGEMENT LLC | 328,446 | $1.4M | -73,222 | -18.2% |
| TWO SIGMA INVESTMENTS, LP | 325,091 | $1.4M | -1,630 | -0.5% |
| BlackRock, Inc. | 282,584 | $1.2M | +282,584 | — |
| Walleye Capital LLC | 254,411 | $1.1M | +195,605 | 332.6% |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | 245,439 | $1.1M | -158,660 | -39.3% |
| Swiss National Bank | 212,100 | $914.2K | +212,100 | — |
| MORGAN STANLEY | 198,430 | $855.2K | +146,259 | 280.3% |
| Legacy Capital Group California, Inc. | 174,649 | $752.7K | -108,597 | -38.3% |
| STATE STREET CORP | 168,538 | $726.4K | +168,538 | — |
New & Closed Positions this quarter
Closed Positions
16 managers exited
Top five by prior-quarter value
Methodology
Form 13F is the SEC's quarterly disclosure for institutional investment managers exercising discretion over $100 million or more in qualifying U.S. equity securities. Managers must file within 45 days of each calendar quarter end, which is why holdings shown here reflect a snapshot at the period date — not real-time positioning.
Quarter-over-quarter deltas compare each manager's most recently reported share count for TMQ against its prior-quarter count. New positions are entries where the prior count was zero; closed positions are entries where the current count is zero. Amendments (13F-HR/A) replace prior filings for the same period.
Source: SEC EDGAR Form 13F (XML information tables). Dollar values are as reported by the manager and may use mid-quarter pricing conventions. CUSIP-to-ticker resolution is best-effort.