Ninepoint Partners LP

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CIK 1715635

13F portfolio (2025-Q4)

$843M

Positions

158

Implied 1Y CAGR

modeled · as filed

Long positions in SEC Section 13(f) securities (US-listed stocks, ADRs and ETFs), largest first · Δ vs 2025-Q3. A lagged quarterly snapshot (filed ≤45 days after quarter-end); excludes shorts, options, cash, and shares listed only on non-US exchanges — foreign companies held via a US listing or ADR (e.g. Alibaba, TSMC) ARE included.

Implied return what this book implies · modeled, not advice methodology →

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As filed = each book applied at its quarter-end (what the reported book did) · As copyable = applied at its statutory 45-day filing deadline (what a 13F follower could have earned).

Computing…

Hypothetical modeled performance constructed with hindsight — not actual results, and not indicative of future results. See the Disclaimer.

Exposures · what this manager owns, by sector & size (2025-Q4)

Holdings

158

Top 5

42.9%

Top 10

58.8%

Effective N

20.8

HHI

0.048

This quarter

60 new · 0 exit →

By sector

Energy54.4%

Materials21.7%

Unclassified5.2%

Financials4.6%

Information Technology4.4%

Industrials3.2%

Utilities3.1%

Communication Services1.7%

Other1.7%

By market cap

Large ($10–200B)42.1%

Unknown33.4%

Mid ($2–10B)15.1%

Small ($300M–2B)5.6%

Mega (>$200B)3.7%

By region

North America94.5%

Other5.2%

Asia-Pacific0.1%

Europe0.1%

Latin America0.1%

Africa0.0%

By industry group GICS — finer than sector

Industry group	Weight	Names
Oil, Gas & Consumable Fuels	54.41%	15
Metals & Mining	20.79%	24
Unclassified	5.17%	9
Banks	3.46%	16
Utilities	3.14%	16
Software	2.48%	4
Road & Rail	2.44%	4
Semiconductors & Semiconductor Equipment	1.13%	6
Diversified Telecommunication Services	0.98%	1
Construction Materials	0.86%	3
Software & IT Services	0.84%	7
Specialty Retail	0.62%	6
Construction & Engineering	0.60%	4
Capital Markets	0.56%	6
Equity Real Estate Investment Trusts (REITs)	0.46%	3
Insurance	0.45%	1
Technology Hardware & Equipment	0.40%	4
Pharmaceuticals & Biotechnology	0.27%	7
Machinery	0.17%	5
Life Sciences Tools & Services	0.10%	2
Electrical Equipment & Components	0.10%	2
Entertainment	0.10%	2
Commercial Services & Supplies	0.08%	3
Health Care Providers & Services	0.07%	1
Health Care Equipment & Supplies	0.07%	1
Hotels, Restaurants & Leisure	0.06%	1
Beverages	0.06%	2
Chemicals	0.05%	1
Communications Equipment	0.05%	1
Aerospace & Defense	0.03%	1

Top holdings

#	Ticker	Name	Sector	Weight
1	EXE	EXPAND ENERGY Corp	Energy	10.48%
2	AR	ANTERO RESOURCES Corp	Energy	10.23%
3	CVE	CENOVUS ENERGY	Energy	9.04%
4	EQT	EQT Corp	Energy	7.69%
5	VNOM	Viper Energy, Inc.	Energy	5.50%
6	GPOR	GULFPORT ENERGY CORP	Energy	4.94%
7	SPY	STATE STR SPDR S&P 500 ETF T	Unclassified	3.95%
8	CCJ	CAMECO CORP	Materials	2.60%
9	VZLA	Vizsla Silver Corp.	Materials	2.21%
10	HYMC	HYCROFT MINING HOLDING CORP	Materials	2.14%

149/158 names classified · sector 94.8% of weight · industry 94.8% · mkt cap 66.6%; unclassified names shown, never dropped.

Sector allocation over time · how the GICS mix & top names shifted quarter by quarter

top 5/sector, rest → “Other” · 34 quarters

EnergyCVE, BTE, EXE, EQT, OVV · other

FinancialsBAC, ICE, C, MFC, UNH · other

IndustrialsFISV, UNP, GIB, BABA, CSX · other

Real EstateAMT, EQIX, CCI, SBAC, DLR · other

UtilitiesNEE, TRP, OKE, AWK, AQN · other

Information TechnologyMSFT, DHR, SHOP, ADBE, GE · other

MaterialsKGC, CCJ, WPM, VZLA, HYMC · other

Consumer DiscretionaryHD, AMZN, MCD, WMT, COST · other

Communication ServicesCMCSA, TMUS, META, BCE, GOOGL · other

Health CareBSX, MDT, JNJ, MRK, ABT · other

Consumer StaplesKO, STZ, MDLZ, CVS, ADM · other

UnclassifiedSPY, CRESCENT PT ENERGY CORP, ENERPLUS CORP, SPDR S&P 500 ETF TR, STATE STR SPDR S&P 500 ET · other

Sector is classified on each name's CURRENT fundamentals, not point-in-time — apparent sector drift can reflect the market re-rating a holding, not a manager trade. 13F is a lagged quarterly snapshot of long positions in US-listed securities only — foreign companies held via a US listing or ADR ARE included, but shares listed only on non-US exchanges (plus shorts, options and cash) are not. Latest quarter: 94.8% of the book is sector-classified (unclassified names shown, never dropped).

Style box · size × value-growth placement of the reported book (2025-Q4), classified on current fundamentals (not point-in-time) — load it into PORT to overlay your own portfolio

Only 49% of book weight classified — the grid is NOT representative of the whole book.

holdings, colored by sector (84 classified)Ninepoint Partners LP centroid (Mid Core)

EnergyInformation TechnologyMaterialsUtilitiesIndustrialsFinancialsConsumer DiscretionaryCommunication ServicesReal EstateHealth CareConsumer Staples

Style box summary for Ninepoint Partners LP: centroid Mid Core. Heaviest cells: Mid Value 18.4%, Small Value 10.8%, Large Growth 6.0%.

Classified: 48.5% of book weight (84/158 names) · unclassified 51.5%: CVE, VNOM, SPY, CCJ, VZLA, HYMC, KGC, CNI, ENB, WPM +64 more. Size: cap 70/20/10 bands; style: value/growth composite on our own metrics — not Morningstar's model.

Contribution holdings-based, any period

No contribution data for this period.

Holdings· 158 positions (2025-Q4) · largest first · Δ vs 2025-Q3

#	Security	Shares	Value	Weight	Δ QoQ
1	EXEEXPAND ENERGY CORPORATION	800,000	$88M	10.5%	TRIM −11%
2	ARANTERO RESOURCES CORP	2,500,000	$86M	10.2%	ADD 11%
3	CVECENOVUS ENERGY INC	4,500,000	$76M	9.0%	ADD 27%
4	EQTEQT CORP	1,208,717	$65M	7.7%	HOLD
5	VNOMVIPER ENERGY INC	1,200,000	$46M	5.5%	ADD 700%
6	GPORGULFPORT ENERGY CORP	200,000	$42M	4.9%	NEW
7	SPYSTATE STR SPDR S&P 500 ETF T	48,800	$33M	3.9%	TRIM −3%
8	CCJCAMECO CORP	239,783	$22M	2.6%	ADD 110%
9	VZLAVIZSLA SILVER CORP	3,410,000	$19M	2.2%	ADD 143%
10	HYMCHYCROFT MINING HOLDING CORP	757,100	$18M	2.1%	NEW
11	SHOPSHOPIFY INC	108,591	$17M	2.1%	ADD 156%
12	KGCKINROSS GOLD CORP	614,920	$17M	2.1%	ADD 32%
13	CNICANADIAN NATL RY CO	121,522	$16M	2.0%	ADD 132%
14	ENBENBRIDGE INC	322,950	$15M	1.8%	ADD 23%
15	WPMWHEATON PRECIOUS METALS CORP	124,948	$15M	1.7%	ADD 412%
16	AEMAGNICO EAGLE MINES LTD	69,770	$12M	1.4%	HOLD
17	AGIALAMOS GOLD INC NEW	305,000	$12M	1.4%	HOLD
18	CDECOEUR MNG INC	654,243	$12M	1.4%	NEW
19	RYROYAL BK CDA	56,706	$10M	1.1%	ADD 20%
20	TDTORONTO DOMINION BK ONT	102,340	$10M	1.1%	ADD 263%
21	BBARRICK MNG CORP	220,835	$10M	1.1%	TRIM −18%
22	SUSUNCOR ENERGY INC NEW	200,098	$9M	1.1%	ADD 42%
23	BCEBCE INC	345,023	$8M	1.0%	ADD 356%
24	CNQCANADIAN NAT RES LTD	228,553	$8M	0.9%	ADD 165%
25	IAGIAMGOLD CORP	418,900	$7M	0.8%	HOLD
26	HLHECLA MNG CO	358,600	$7M	0.8%	NEW
27	SOBOSOUTH BOW CORP	250,000	$7M	0.8%	TRIM −9%
28	CNLCOLLECTIVE MINING LTD	470,000	$7M	0.8%	HOLD
29	PAASPAN AMERN SILVER CORP	115,621	$6M	0.7%	ADD 143%
30	NVDANVIDIA CORPORATION	28,192	$5M	0.6%	ADD 25%
31	TRPTC ENERGY CORP	90,005	$5M	0.6%	ADD 7%
32	PRPERMIAN RESOURCES CORP	350,000	$5M	0.6%	HOLD
33	CHRDCHORD ENERGY CORPORATION	50,000	$5M	0.6%	HOLD
34	EXKENDEAVOUR SILVER CORP	434,783	$4M	0.5%	NEW
35	SLVISHARES SILVER TR	60,299	$4M	0.5%	NEW
36	MFCMANULIFE FINL CORP	103,597	$4M	0.4%	TRIM −14%
37	GOOGALPHABET INC	11,462	$4M	0.4%	ADD 132%
38	NXENEXGEN ENERGY LTD	380,000	$3M	0.4%	HOLD
39	BVNCOMPANIA DE MINAS BUENAVENTU	125,466	$3M	0.4%	NEW
40	CMCANADIAN IMPERIAL BANK OF CO	37,017	$3M	0.4%	TRIM −11%
41	MSFTMICROSOFT CORP	6,365	$3M	0.4%	TRIM −14%
42	FTSFORTIS INC	59,008	$3M	0.4%	HOLD
43	PTENPATTERSON-UTI ENERGY INC	500,000	$3M	0.4%	HOLD
44	FANGDIAMONDBACK ENERGY INC	20,000	$3M	0.4%	TRIM −94%
45	ORLAORLA MNG LTD NEW	222,500	$3M	0.4%	ADD 27%
46	BIPBROOKFIELD INFRAST PARTNERS	85,637	$3M	0.4%	NEW
47	FBTCFIDELITY WISE ORIGIN BITCOIN	30,800	$2M	0.3%	NEW
48	FCXFREEPORT MCMORAN INC	45,000	$2M	0.3%	TRIM −18%
49	AMZNAMAZON COM INC	9,377	$2M	0.3%	ADD 107%
50	UNPUNION PAC CORP	9,027	$2M	0.2%	TRIM −4%
51	MTZMASTEC INC	8,500	$2M	0.2%	HOLD
52	AMTAMERICAN TOWER CORP	10,295	$2M	0.2%	TRIM −16%
53	CSXCSX CORP	48,988	$2M	0.2%	NEW
54	NDAQNASDAQ INC	18,163	$2M	0.2%	ADD 622%
55	WMBWILLIAMS COS INC	27,815	$2M	0.2%	NEW
56	CEGCONSTELLATION ENERGY CORP	4,613	$2M	0.2%	TRIM −19%
57	NINISOURCE INC	37,720	$2M	0.2%	TRIM −4%
58	AAPLAPPLE INC	5,764	$2M	0.2%	ADD 7%
59	AVGOBROADCOM INC	4,422	$2M	0.2%	HOLD
60	TRGPTARGA RES CORP	8,055	$1M	0.2%	TRIM −9%
61	HOODROBINHOOD MKTS INC	12,834	$1M	0.2%	TRIM −25%
62	EQIXEQUINIX INC	1,877	$1M	0.2%	HOLD
63	TLNTALEN ENERGY CORP	3,764	$1M	0.2%	NEW
64	AEEAMEREN CORP	13,696	$1M	0.2%	TRIM −16%
65	CNPCENTERPOINT ENERGY INC	35,588	$1M	0.2%	NEW
66	DYDYCOM INDS INC	4,029	$1M	0.2%	NEW
67	WECWEC ENERGY GROUP INC	12,863	$1M	0.2%	NEW
68	SRESEMPRA	15,358	$1M	0.2%	NEW
69	AMDADVANCED MICRO DEVICES INC	6,313	$1M	0.2%	ADD 18%
70	AEPAMERICAN ELEC PWR CO INC	11,636	$1M	0.2%	TRIM −20%
71	ETRENTERGY CORP NEW	14,516	$1M	0.2%	TRIM −20%
72	NEENEXTERA ENERGY INC	16,452	$1M	0.2%	NEW
73	PWRQUANTA SVCS INC	3,119	$1M	0.2%	TRIM −23%
74	UECURANIUM ENERGY CORP	112,625	$1M	0.2%	HOLD
75	VSTVISTRA CORP	7,504	$1M	0.1%	TRIM −10%
76	COINCOINBASE GLOBAL INC	5,181	$1M	0.1%	TRIM −22%
77	TJXTJX COS INC NEW	7,389	$1M	0.1%	ADD 34%
78	FIGRFIGURE TECHNOLOGY SOLUTIO	26,755	$1M	0.1%	NEW
79	RDDTREDDIT INC	4,546	$1M	0.1%	NEW
80	JPMJPMORGAN CHASE & CO	2,613	$841,961	0.1%	TRIM −16%
81	GOOGLALPHABET INC	2,672	$836,336	0.1%	NEW
82	GLWCORNING INC	8,663	$758,532	0.1%	NEW
83	WMTWALMART INC	6,691	$745,444	0.1%	HOLD
84	PANWPALO ALTO NETWORKS INC	4,000	$736,800	0.1%	NEW
85	EROERO COPPER CORP	25,000	$707,250	0.1%	TRIM −67%
86	METAMETA PLATFORMS INC	1,051	$693,755	0.1%	TRIM −33%
87	CMECME GROUP INC	2,451	$669,319	0.1%	ADD 16%
88	LLYELI LILLY & CO	605	$650,181	0.1%	TRIM −8%
89	TSMTAIWAN SEMICONDUCTOR MFG LTD	2,131	$647,590	0.1%	ADD 7%
90	WELLWELLTOWER INC	3,479	$645,737	0.1%	ADD 137%
91	NUNU HLDGS LTD	37,733	$631,650	0.1%	ADD 439%
92	NTRANATERA INC	2,726	$624,499	0.1%	ADD 99%
93	COSTCOSTCO WHSL CORP NEW	720	$620,885	0.1%	HOLD
94	AERAERCAP HOLDINGS NV	4,099	$589,272	0.1%	ADD 317%
95	LRCXLAM RESEARCH CORP	3,418	$585,093	0.1%	NEW
96	JNJJOHNSON & JOHNSON	2,815	$582,564	0.1%	HOLD
97	DGDOLLAR GEN CORP	4,348	$577,284	0.1%	ADD 50%
98	GSGOLDMAN SACHS GROUP INC	648	$569,592	0.1%	HOLD
99	CSCOCISCO SYS INC	7,388	$569,098	0.1%	HOLD
100	ISRGINTUITIVE SURGICAL INC	995	$563,528	0.1%	NEW
101	FERFERROVIAL SE	8,636	$557,972	0.1%	NEW
102	HDBHDFC BANK LTD	15,219	$556,102	0.1%	ADD 86%
103	APPAPPLOVIN CORP	820	$552,532	0.1%	ADD 193%
104	GEGE AEROSPACE	1,780	$548,293	0.1%	HOLD
105	WFCWELLS FARGO CO NEW	5,879	$547,923	0.1%	NEW
106	BACBANK AMERICA CORP	9,848	$541,640	0.1%	HOLD
107	XOMEXXON MOBIL CORP	4,476	$538,642	0.1%	HOLD
108	CATCATERPILLAR INC	914	$523,603	0.1%	ADD 57%
109	MCDMCDONALDS CORP	1,670	$510,402	0.1%	HOLD
110	TKOTKO GROUP HOLDINGS INC	2,440	$509,960	0.1%	NEW
111	TMOTHERMO FISHER SCIENTIFIC INC	878	$508,757	0.1%	ADD 68%
112	DNNDENISON MINES CORP	190,000	$505,400	0.1%	HOLD
113	KOCOCA COLA CO	7,212	$504,191	0.1%	ADD 95%
114	VVISA INC	1,426	$500,112	0.1%	NEW
115	IQVIQVIA HLDGS INC	2,155	$485,759	0.1%	NEW
116	TCEHYTENCENT HLDGS LTD ADR ISIN US88032Q1094	6,031	$461,673	0.1%	ADD 84%
117	ONONON HLDG AG	9,928	$461,453	0.1%	NEW
118	ASNDASCENDIS PHARMA A/S	2,115	$451,003	0.1%	ADD 182%
119	ARGXARGENX SE	519	$436,453	0.1%	ADD 160%
120	PLPLANET LABS PBC	21,807	$430,034	0.1%	ADD 133%
121	IRENIREN LIMITED	11,306	$427,028	0.1%	NEW
122	CLSCELESTICA INC	1,382	$408,533	0.0%	ADD 184%
123	CIFRCIPHER MINING INC	27,600	$407,376	0.0%	NEW
124	CRHCRH PLC	3,190	$398,112	0.0%	NEW
125	ILMNILLUMINA INC	2,850	$373,806	0.0%	NEW
126	DOCNDIGITALOCEAN HLDGS INC	7,596	$365,520	0.0%	ADD 238%
127	SPHRSPHERE ENTERTAINMENT CO	3,331	$316,711	0.0%	NEW
128	MDBMONGODB INC	708	$297,141	0.0%	NEW
129	APHAMPHENOL CORP	2,120	$286,497	0.0%	HOLD
130	GEVGE VERNOVA INC	435	$284,303	0.0%	ADD 8%
131	FTITECHNIPFMC PLC	6,312	$281,263	0.0%	NEW
132	HWMHOWMET AEROSPACE INC	1,349	$276,572	0.0%	HOLD
133	CCITIGROUP INC	2,344	$273,521	0.0%	NEW
134	SCHWSCHWAB CHARLES CORP	2,643	$264,062	0.0%	NEW
135	LHXL3HARRIS TECHNOLOGIES INC	852	$250,122	0.0%	NEW
136	MAMASTERCARD INCORPORATED	337	$192,387	0.0%	TRIM −87%
137	ABBVABBVIE INC	797	$182,107	0.0%	TRIM −65%
138	CPCANADIAN PACIFIC KANSAS CITY	2,113	$155,580	0.0%	TRIM −90%
139	AUANGLOGOLD ASHANTI PLC	67	$5,714	0.0%	NEW
140	INGING GROEP N.V.	194	$5,432	0.0%	NEW
141	SMFGSUMITOMO MITSUI FINL GROUP I	236	$4,562	0.0%	NEW
142	ASMLASML HOLDING N V	4	$4,279	0.0%	NEW
143	AZNASTRAZENECA PLC	46	$4,229	0.0%	NEW
144	BABAALIBABA GROUP HLDG LTD	27	$3,958	0.0%	NEW
145	BIDUBAIDU INC	30	$3,920	0.0%	NEW
146	CCEPCOCA-COLA EUROPACIFIC PARTNE	39	$3,537	0.0%	NEW
147	FUTUFUTU HLDGS LTD	21	$3,448	0.0%	NEW
148	NWGNATWEST GROUP PLC	172	$3,010	0.0%	NEW
149	VALEVALE S A	228	$2,971	0.0%	NEW
150	LIVANOVA PLC	45	$2,769	0.0%	NEW
151	NVTNVENT ELECTRIC PLC	27	$2,753	0.0%	NEW
152	GLBEGLOBAL E ONLINE LTD	53	$2,083	0.0%	NEW
153	GMABGENMAB A/S	67	$2,064	0.0%	NEW
154	SBSCOMPANHIA DE SANEAMENTO BASI	84	$2,003	0.0%	NEW
155	TEAMATLASSIAN CORPORATION	10	$1,621	0.0%	NEW
156	SQMSOCIEDAD QUIMICA Y MINERA DE	22	$1,514	0.0%	NEW
157	CAMTCAMTEK LTD	14	$1,489	0.0%	NEW
158	JMIAJUMIA TECHNOLOGIES AG	113	$1,411	0.0%	NEW

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