Trilogy Metals Inc.: which funds bought and sold

Institutions that bought and sold Trilogy Metals shares in Q2 2026, from the holdings they reported to the SEC on Form 13F for March 31, 2026 and June 30, 2026.

Between March 31, 2026 and June 30, 2026, 75 institutions that filed 13F reports for both quarters added to or opened positions in Trilogy Metals, and 52 cut or closed them. Together they added a net 5.2M shares, +8.3% on what they held at the start of the quarter. Active managers and hedge funds on our list were net sellers of 187K shares (−4.5%); index fund managers were net buyers of 158K shares (+22.0%). 24 opened a new position and 20 sold out entirely.

Bought, Q2 2026 75 institutions, 24 of them new holders Sold, Q2 2026 52 institutions, 20 of them sold out

Net change, all compared +5.2M shares (+8.3%)

Net change, active managers −187K shares (−4.5%), 9 bought, 7 sold

Buyers versus sellers

institutions compared, 164

75 bought 37 52 sold

Active managers and hedge funds 9 bought · 7 sold · −187K

Index fund managers 3 bought · 0 sold · +158K

Other institutions 63 bought · 45 sold · +5.2M

Biggest buyers

by change in shares held

Biggest buyers
Institution	Change in shares	Shares June 30, 2026	Value
Tsp Capital Management Group, LLC	+6.8M New position	6.8M	$23.8M
Old West Investment Management, LLC	+1.4M +29.6%	6.1M	$21.4M
Point72 Asset Management, L.P. Hedge fund	+535K +155.9%	878K	$3.1M
Citadel Advisors LLC Hedge fund	+488K +158.1%	797K	$2.8M
Morgan Stanley	+477K +103.9%	936K	$3.3M
Moore Capital Management, LP Hedge fund	+392K New position	392K	$1.4M
Private Advisor Group, LLC	+110K +54.0%	314K	$1.1M
UBS Group AG	+100K +53.6%	285K	$1M
Xtx Topco Ltd	+89K +505.2%	107K	$374,492
Blackrock, Inc. Index funds	+82K +20.2%	490K	$1.7M
Engineers Gate Manager LP Hedge fund	+82K New position	82K	$286,577
State Street Corp Index funds	+75K +32.1%	308K	$1.1M
Balyasny Asset Management L.P. Hedge fund	+68K +113.1%	129K	$452,242
Group One Trading LLC	+61K New position	61K	$213,527
California State Teachers Retirement System	+52K +53.6%	148K	$519,631
Goehring & Rozencwajg Associates, LLC	+47K +2.7%	1.8M	$6.2M
Bank Of Montreal	+44K +15.4%	328K	$1.1M
Cambridge Investment Research Advisors, Inc.	+39K +107.7%	76K	$264,000
Entrypoint Capital, LLC	+39K +118.2%	72K	$253,710
AQR Capital Management LLC Hedge fund	+36K +114.1%	67K	$234,738

Biggest buyers, active managers and hedge funds
Institution	Change in shares	Shares June 30, 2026	Value
Point72 Asset Management, L.P. Hedge fund	+535K +155.9%	878K	$3.1M
Citadel Advisors LLC Hedge fund	+488K +158.1%	797K	$2.8M
Moore Capital Management, LP Hedge fund	+392K New position	392K	$1.4M
Engineers Gate Manager LP Hedge fund	+82K New position	82K	$286,577
Balyasny Asset Management L.P. Hedge fund	+68K +113.1%	129K	$452,242
AQR Capital Management LLC Hedge fund	+36K +114.1%	67K	$234,738
Squarepoint Ops LLC Hedge fund	+4,789 +29.3%	21K	$74,240
American Century Companies Inc Active manager	+1,060 +7.8%	15K	$51,081
Freestone Grove Partners LP Hedge fund	+1 New position	1	$4

Biggest sellers

by change in shares held

Biggest sellers
Institution	Change in shares	Shares June 30, 2026	Value
Tidal Investments LLC	−1.5M −15.5%	8.4M	$29.5M
Walleye Capital LLC Hedge fund	−946K Sold out	0	—
Jane Street Group, LLC	−905K −92.2%	77K	$270,133
Alps Advisors Inc	−387K −20.8%	1.5M	$5.2M
Bank Of America Corp	−374K −97.2%	11K	$37,448
Susquehanna International Group, LLP	−323K −93.5%	22K	$78,592
Two Sigma Investments, LP Hedge fund	−301K −55.2%	244K	$856,686
Jump Financial, LLC	−279K Sold out	0	—
Marshall Wace, LLP Hedge fund	−272K −16.7%	1.4M	$4.8M
Winton Group Ltd Hedge fund	−144K Sold out	0	—
Millennium Management LLC Hedge fund	−104K Sold out	0	—
Envestnet Asset Management Inc	−65K −6.7%	909K	$3.2M
Goldman Sachs Group Inc	−56K −12.1%	404K	$1.4M
Targeted Financial Services LLC	−51K Sold out	0	—
Summittx Capital, L.P.	−46K Sold out	0	—
Zurcher Kantonalbank (Zurich Cantonalbank)	−45K −51.9%	42K	$146,648
Hightower Advisors, LLC	−40K −52.0%	37K	$128,189
Drw Securities, LLC	−25K Sold out	0	—
Fore Capital, LLC	−25K −71.4%	10K	$35,100
Scientech Research LLC	−24K Sold out	0	—

Biggest sellers, active managers and hedge funds
Institution	Change in shares	Shares June 30, 2026	Value
Walleye Capital LLC Hedge fund	−946K Sold out	0	—
Two Sigma Investments, LP Hedge fund	−301K −55.2%	244K	$856,686
Marshall Wace, LLP Hedge fund	−272K −16.7%	1.4M	$4.8M
Winton Group Ltd Hedge fund	−144K Sold out	0	—
Millennium Management LLC Hedge fund	−104K Sold out	0	—
Los Angeles Capital Management LLC Active manager	−20K Sold out	0	—
Quantbot Technologies LP Hedge fund	−5,427 Sold out	0	—

New positions

largest by value

Institution	Shares	Value June 30, 2026
Tsp Capital Management Group, LLC	6.8M	$23.8M
Moore Capital Management, LPHedge fund	392K	$1.4M
Engineers Gate Manager LPHedge fund	82K	$286,577
Group One Trading LLC	61K	$213,527
Schneider Downs Wealth Management Advisors, LP	21K	$72,306
Three Magnolias Financial Advisors, LLC	18K	$63,180
Meadowbrook Advisors Group, LLC	18K	$62,460
Deutsche Bank Ag\	16K	$56,960
Hub Investment Partners, LLC	14K	$49,400
Bank Of New York Mellon Corp	12K	$41,292

Sold out

largest by value

Institution	Shares	Value March 31, 2026
Walleye Capital LLCHedge fund	946K	$3.4M
Jump Financial, LLC	279K	$1M
Winton Group LtdHedge fund	144K	$516,601
Millennium Management LLCHedge fund	104K	$374,510
Targeted Financial Services LLC	51K	$184,174
Summittx Capital, L.P.	46K	$166,217
Drw Securities, LLC	25K	$90,040
Scientech Research LLC	24K	$87,251
Los Angeles Capital Management LLCActive manager	20K	$71,825
Brown Brothers Harriman & Co	13K	$47,927

Who holds the shares

13F holdings at June 30, 2026

Institutions reporting: 146
Ten largest holders: 88.3%
Index fund managers: 1.3%
Active managers and hedge funds: 5.8%

Buying and selling by type of institution, March 31, 2026 to June 30, 2026
Type	Bought	Sold	New	Sold out	Net change in shares	Net %
Active managers and hedge funds	9	7	3	5	−187K	−4.5%
Index fund managers	3	0	0	0	+158K	+22.0%
Other institutions	63	45	21	15	+5.2M	+9.0%

Active managers and hedge funds: a list we maintain of about 400 well-known stock-picking firms and hedge funds, matched by SEC registration number (CIK) and checked against the filer names each quarter. Index fund managers: the large index houses, such as BlackRock, Vanguard, State Street, Geode and Northern Trust. Every other filer (banks, brokers, wealth managers, pension funds, insurers and firms not on the list) counts as another institution. A firm that files under several SEC registrations appears once for each.

What these filings can and cannot tell you

Form 13F lists the long positions in US-listed shares held by investment managers with more than $100 million in such holdings. Managers file it up to 45 days after each quarter ends, so this page shows what funds held at the end of each quarter, not what they are doing now: a position may have changed since. Short positions, most derivatives and smaller managers are not included, and a cut can mean a fund lost clients or rebalanced rather than a view on Trilogy Metals.

Only managers that filed a holdings report for both quarters are compared (164 here). 6 other holders are left out: first-time or late filers, firms that changed their SEC registration, and filings that withheld positions under confidential treatment, any of which would otherwise look like a new position or a sale. Figures are as reported by each manager in the SEC's quarterly 13F data sets; option positions are excluded.

← Back to Trilogy Metals Inc. · Insiders · Politicians