Who owns SNDL
Which tracked institutional funds hold SNDL, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See SNDL company fundamentals →
Ownership as of the 2026-Q1 13F filings (latest filed 2026-05-18). 13F is disclosed up to 45 days after quarter-end, so the most recent quarter fills in over the following weeks.
How the tape is positioned
The tracked-fund tape on SNDL is one-sided between 2025-Q4 and 2026-Q1: 2 added or opened and 15 trimmed or exited — on balance reducing.
A prompt to read the filings, not a verdict. 13F is a quarter-end snapshot disclosed up to 45 days late; a fund adds or exits for mandate, benchmark, and timing reasons that have nothing to do with a view on the stock. This is a starting question, not a signal to trade.
Conviction spread
SNDL’s largest tracked holder by dollar value, MORGAN STANLEY, sizes it at 0.0% of its own reported 13F book, while the median holder sizes it at 0.0% of theirs — a 0.0pp gap the other way — the median holder sizes SNDL more heavily than its largest holder by dollar value does.
Book-share is each fund’s reported value in SNDL divided by its whole reported 13F book, so it is comparable across funds of different sizes and is unaffected by stock splits. A higher share means a fund has committed more of its book to the name — a starting question about conviction, not a verdict or a signal to trade.
Institutional & insider positioning
Between 2025-Q4 and 2026-Q1, across 109 tracked filers holding SNDL, 47 increased or opened the position and 49 reduced or closed it; over the same quarter, there were no open-market insider Form 4s.
This fuses two public signals for the same quarter — how tracked institutions changed their positions and whether insiders bought or sold in the open market. It describes what was filed; it is a starting question, not a verdict or a signal to trade.
New buyers & exits
Funds opening or closing a position in SNDL between the 2025-Q4 and 2026-Q1 13F filings, and the largest changes among funds holding it in both. New buyers and exits are counted on fund presence (split-invariant); adds and trims are measured on reported value.
New buyers 1
- RENAISSANCE TECHNOLOGIES LLC$795K
Full exits 1
- MACKENZIE FINANCIAL CORP$554K
Largest adds
- UBS Group AG$322K
Largest trims
- NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO$27M
- MORGAN STANLEY$6M
- CANNELL CAPITAL LLC$3M
- ARROWSTREET CAPITAL, LIMITED PARTNERSHIP$3M
- JANE STREET GROUP, LLC$3M
- MILLENNIUM MANAGEMENT LLC$2M
Institutional holders
One row per tracked fund, largest reported value first. “% of value” is the fund’s share of this security’s tracked institutional value — not of shares outstanding. Rows marked stale are from an earlier filing than the security’s latest quarter — that fund is absent from the newest snapshot (position exited, or reported under a different name).
| Fund | Shares | Reported value | % of value | Quarter |
|---|---|---|---|---|
| MORGAN STANLEY trimmed | 11,411,121 | $15M | 20.0% | 2026-Q1 |
| CANNELL CAPITAL LLC | 8,761,155 | $12M | 15.3% | 2026-Q1 |
| Tidal Investments LLC added | 5,510,675 | $7M | 9.6% | 2026-Q1 |
| AdvisorShares Investments LLC trimmed | 3,509,861 | $5M | 6.1% | 2026-Q1 |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP trimmed | 2,996,423 | $4M | 5.3% | 2026-Q1 |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. added | 2,239,364 | $3M | 3.9% | 2026-Q1 |
| CITADEL ADVISORS LLC trimmed | 1,878,112 | $2M | 3.3% | 2026-Q1 |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP added | 1,562,321 | $2M | 2.7% | 2026-Q1 |
| JPMORGAN CHASE & CO added | 1,398,320 | $2M | 2.4% | 2026-Q1 |
| Ewing Morris & Co. Investment Partners Ltd. added | 1,301,222 | $2M | 2.3% | 2026-Q1 |
| GOLDMAN SACHS GROUP INC trimmed | 1,182,075 | $2M | 2.1% | 2026-Q1 |
| LAZARD ASSET MANAGEMENT LLC added | 1,050,278 | $1M | 1.8% | 2026-Q1 |
| Man Group plc added | 828,494 | $1M | 1.4% | 2026-Q1 |
| Qube Research & Technologies Ltd added | 800,519 | $1M | 1.4% | 2026-Q1 |
| State of Wyoming added | 653,604 | $863K | 1.1% | 2026-Q1 |
| RENAISSANCE TECHNOLOGIES LLC added | 602,225 | $795K | 1.1% | 2026-Q1 |
| WINTON GROUP Ltd added | 498,433 | $658K | 0.9% | 2026-Q1 |
| STATE STREET CORP added | 453,119 | $598K | 0.8% | 2026-Q1 |
| UBS Group AG added | 425,100 | $561K | 0.7% | 2026-Q1 |
| SIMPLEX TRADING, LLC added | 397,934 | $525K | 0.7% | 2026-Q1 |
| Cambria Investment Management, L.P. trimmed | 352,842 | $466K | 0.6% | 2026-Q1 |
| GSA CAPITAL PARTNERS LLP added | 339,068 | $448K | 0.6% | 2026-Q1 |
| DIMENSIONAL FUND ADVISORS LP | 328,065 | $433K | 0.6% | 2026-Q1 |
| JANE STREET GROUP, LLC trimmed | 323,474 | $427K | 0.6% | 2026-Q1 |
| BlackRock, Inc. added | 320,755 | $423K | 0.6% | 2026-Q1 |
| SkyView Investment Advisors, LLC added | 310,158 | $409K | 0.5% | 2026-Q1 |
| Cable Car Capital, LP | 306,195 | $404K | 0.5% | 2026-Q1 |
| MILLENNIUM MANAGEMENT LLC trimmed | 293,469 | $387K | 0.5% | 2026-Q1 |
| GROUP ONE TRADING LLC trimmed | 269,927 | $356K | 0.5% | 2026-Q1 |
| XTX Topco Ltd added | 260,597 | $344K | 0.5% | 2026-Q1 |
| Baader Bank Aktiengesellschaft added | 250,718 | $330K | 0.4% | 2026-Q1 |
| RBF Capital, LLC | 250,000 | $330K | 0.4% | 2026-Q1 |
| Quadrature Capital Ltd new | 246,815 | $326K | 0.4% | 2026-Q1 |
| HRT FINANCIAL LP trimmed | 231,812 | $305K | 0.4% | 2026-Q1 |
| OneDigital Investment Advisors LLC added | 215,493 | $284K | 0.4% | 2026-Q1 |
| Magnus Financial Group LLC added | 168,246 | $222K | 0.3% | 2026-Q1 |
| IMC-Chicago, LLC added | 165,332 | $218K | 0.3% | 2026-Q1 |
| GEODE CAPITAL MANAGEMENT, LLC | 164,900 | $218K | 0.3% | 2026-Q1 |
| BANK OF AMERICA CORP /DE/ trimmed | 155,251 | $205K | 0.3% | 2026-Q1 |
| Engineers Gate Manager LP trimmed | 149,915 | $198K | 0.3% | 2026-Q1 |
| ALGERT GLOBAL LLC | 136,530 | $180K | 0.2% | 2026-Q1 |
| Headlands Technologies LLC trimmed | 107,649 | $142K | 0.2% | 2026-Q1 |
| Federation des caisses Desjardins du Quebec trimmed | 102,435 | $132K | 0.2% | 2026-Q1 |
| Leonteq Securities AG added | 98,629 | $130K | 0.2% | 2026-Q1 |
| Point72 Asset Management, L.P. trimmed | 94,064 | $124K | 0.2% | 2026-Q1 |
| R Squared Ltd added | 92,503 | $122K | 0.2% | 2026-Q1 |
| Virtu Financial LLC trimmed | 91,431 | $121K | 0.2% | 2026-Q1 |
| SUSQUEHANNA ADVISORS GROUP, INC. | 59,018 | $78K | 0.1% | 2026-Q1 |
| TWO SIGMA INVESTMENTS, LP trimmed | 53,700 | $71K | 0.1% | 2026-Q1 |
| SG Americas Securities, LLC added | 50,667 | $67K | 0.1% | 2026-Q1 |
| Caprock Group, LLC | 35,000 | $46K | 0.1% | 2026-Q1 |
| AlphaCore Capital LLC new | 34,900 | $46K | 0.1% | 2026-Q1 |
| HSBC HOLDINGS PLC new | 34,214 | $45K | 0.1% | 2026-Q1 |
| COMMONWEALTH EQUITY SERVICES, LLC trimmed | 34,090 | $45K | 0.1% | 2026-Q1 |
| SBI Securities Co., Ltd. added | 33,376 | $44K | 0.1% | 2026-Q1 |
| Corient Private Wealth LLC trimmed | 30,014 | $40K | 0.1% | 2026-Q1 |
| TWO SIGMA SECURITIES, LLC trimmed | 29,598 | $39K | 0.1% | 2026-Q1 |
| ROYAL BANK OF CANADA added | 26,762 | $36K | 0.0% | 2026-Q1 |
| Aquatic Capital Management LLC trimmed | 26,175 | $35K | 0.0% | 2026-Q1 |
| SCOTIA CAPITAL INC. trimmed | 22,193 | $29K | 0.0% | 2026-Q1 |
| Tower Research Capital LLC (TRC) added | 21,391 | $28K | 0.0% | 2026-Q1 |
| Private Advisor Group, LLC new | 20,969 | $28K | 0.0% | 2026-Q1 |
| JEPPSON WEALTH MANAGEMENT, LLC | 20,000 | $26K | 0.0% | 2026-Q1 |
| FSM Wealth Advisors, LLC | 20,000 | $26K | 0.0% | 2026-Q1 |
| PFG Investments, LLC | 20,000 | $26K | 0.0% | 2026-Q1 |
| EntryPoint Capital, LLC | 18,271 | $24K | 0.0% | 2026-Q1 |
| LPL Financial LLC trimmed | 14,819 | $20K | 0.0% | 2026-Q1 |
| RAYMOND JAMES FINANCIAL INC added | 14,682 | $19K | 0.0% | 2026-Q1 |
| OXFORD ASSET MANAGEMENT LLP trimmed | 13,568 | $18K | 0.0% | 2026-Q1 |
| CWM, LLC added | 12,248 | $16K | 0.0% | 2026-Q1 |
| MACKENZIE FINANCIAL CORP added | 336,271 | $554K | 0.7% | 2025-Q4 stale |
| Cubist Systematic Strategies, LLC added | 200,839 | $538K | 0.7% | 2025-Q3 stale |
| Invesco Ltd. trimmed | 194,304 | $521K | 0.7% | 2025-Q3 stale |
| Connective Capital Management, LLC new | 149,849 | $402K | 0.5% | 2025-Q3 stale |
| Centiva Capital, LP new | 120,576 | $323K | 0.4% | 2025-Q3 stale |
| Graham Capital Management, L.P. added | 133,694 | $222K | 0.3% | 2025-Q4 stale |
| Kingsview Wealth Management, LLC new | 79,238 | $212K | 0.3% | 2025-Q3 stale |
| Susquehanna Portfolio Strategies, LLC new | 59,894 | $161K | 0.2% | 2025-Q3 stale |
| Connor, Clark & Lunn Investment Management Ltd. added | 55,762 | $149K | 0.2% | 2025-Q3 stale |
| Brevan Howard Capital Management LP new | 88,071 | $146K | 0.2% | 2025-Q4 stale |
| OMERS ADMINISTRATION Corp trimmed | 51,100 | $137K | 0.2% | 2025-Q3 stale |
| Squarepoint Ops LLC added | 82,323 | $137K | 0.2% | 2025-Q4 stale |
| TWO SIGMA ADVISERS, LP added | 53,400 | $89K | 0.1% | 2025-Q4 stale |
| Newman Dignan & Sheerar, Inc. | 64,420 | $78K | 0.1% | 2025-Q2 stale |
| Vontobel Holding Ltd. | 42,223 | $70K | 0.1% | 2025-Q4 stale |
| Bayesian Capital Management, LP trimmed | 22,600 | $61K | 0.1% | 2025-Q3 stale |
| DARK FOREST CAPITAL MANAGEMENT LP new | 45,416 | $55K | 0.1% | 2025-Q2 stale |
| BANK OF MONTREAL /CAN/ added | 17,814 | $48K | 0.1% | 2025-Q3 stale |
| WOLVERINE TRADING, LLC trimmed | 15,996 | $44K | 0.1% | 2025-Q3 stale |
| Hilton Capital Management, LLC | 24,634 | $41K | 0.1% | 2025-Q4 stale |
| Equitable Holdings, Inc. trimmed | 14,140 | $38K | 0.1% | 2025-Q3 stale |
| Mariner, LLC new | 13,323 | $36K | 0.0% | 2025-Q3 stale |
| PRELUDE CAPITAL MANAGEMENT, LLC trimmed | 23,865 | $34K | 0.0% | 2025-Q1 stale |
| Olympiad Research LP | 23,865 | $34K | 0.0% | 2025-Q1 stale |
| HighTower Advisors, LLC trimmed | 10,863 | $29K | 0.0% | 2025-Q3 stale |
| Gotham Asset Management, LLC trimmed | 19,194 | $27K | 0.0% | 2025-Q1 stale |
| Traynor Capital Management, Inc. trimmed | 10,013 | $27K | 0.0% | 2025-Q3 stale |
| StoneX Group Inc. trimmed | 13,376 | $22K | 0.0% | 2025-Q4 stale |
| KESTRA PRIVATE WEALTH SERVICES, LLC new | 14,694 | $21K | 0.0% | 2025-Q1 stale |
| Caliber Wealth Management, LLC / KS | 16,204 | $20K | 0.0% | 2025-Q2 stale |
Ownership over time
Tracked institutional holder count and total shares held by filing quarter (independent scales). The curated-era tail and any mid-ingest latest quarter are handled honestly — a partial quarter is not drawn as a collapse.
Reading this table
Funds hold the same stock for different reasons — an index fund “holds” almost everything, an active manager sizes a name to a mandate and a benchmark, and each fund entered at its own price and time. Because 13F is filed up to 45 days after quarter-end, every row is a backward-looking snapshot; a manager may have traded since. Share-class siblings (a company’s A and C shares) are rolled up to one line so a dual-class name is never double-counted. Compare like-for-like. A large holder is not an endorsement, and a fund exiting is not a warning — this is a starting question, not a verdict.
About 13F filings
A Form 13F is a quarterly disclosure that institutional investment managers with over $100 million in US-listed equities must file with the SEC. In plain English: it is a snapshot of the long stock positions a fund held at the end of a quarter. It covers long US-listed equities only — not short positions, options, cash, or private holdings — and the funds shown are the large sample we track, not the complete 13F universe.