SNDL INC SNDL
COM · Common Stock · CUSIP 83307B101 · ISIN CA83307B1013
- SectorHealth care
- IndustryMedicinal Chemicals & Botanical Products
- FilingsSEC EDGAR
129
institutional holders
+6 vs Q1 2025
44.0m
shares reported held*
$53.2mreported value*
25 new
31 added
25 reduced
21 sold out
net bought ≈ $6.1m (+5.1m shares)
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($448.1k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $1.21. Options: 7 managers hold calls ($1.7m notional), 7 hold puts ($4.5m).
Trends to Q2 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 90 |
| Q4 2022 | 101 |
| Q1 2023 | 108 |
| Q2 2023 | 101 |
| Q3 2023 | 103 |
| Q4 2023 | 110 |
| Q1 2024 | 116 |
| Q2 2024 | 124 |
| Q3 2024 | 120 |
| Q4 2024 | 131 |
| Q1 2025 | 123 |
| Q2 2025 | 129 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Bought or addedCut or sold out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2023 | 37 | 29 |
| Q4 2023 | 39 | 33 |
| Q1 2024 | 51 | 40 |
| Q2 2024 | 50 | 43 |
| Q3 2024 | 43 | 42 |
| Q4 2024 | 56 | 35 |
| Q1 2025 | 42 | 52 |
| Q2 2025 | 56 | 46 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
CallsPuts
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2024 | $4.3m | $8.7m | 2.03 |
| Q4 2024 | $3.3m | $8.4m | 2.53 |
| Q1 2025 | $2.1m | $5.8m | 2.75 |
| Q2 2025 | $1.7m | $4.5m | 2.70 |
Biggest buyers
| ROYAL BANK OF CANADA | Added | +4.8m |
| MILLENNIUM MANAGEMENT LLC | Added | +1.9m |
| MORGAN STANLEY | Added | +578.1k |
| BNP PARIBAS FINANCIAL MARKETS | Added | +338.3k |
| GSA CAPITAL PARTNERS LLP | New | +221.1k |
| Tidal Investments LLC | Added | +178.6k |
| Qube Research & Technologies Ltd | Added | +155.9k |
| JANE STREET GROUP, LLC | Added | +112.7k |
| R Squared Ltd | Added | +105.2k |
| XTX Topco Ltd | New | +70.2k |
Biggest sellers
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | Reduced | -1.2m |
| CITADEL ADVISORS LLC | Sold out | -1.1m |
| GOLDMAN SACHS GROUP INC | Reduced | -295.8k |
| State of Wyoming | Reduced | -228.8k |
| Invesco Ltd. | Reduced | -224.5k |
| MACKENZIE FINANCIAL CORP | Sold out | -162.8k |
| TWO SIGMA INVESTMENTS, LP | Sold out | -120.0k |
| Graham Capital Management, L.P. | Reduced | -82.1k |
| AdvisorShares Investments LLC | Reduced | -81.7k |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | Reduced | -50.9k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $711.1k587.7k shares |
| SIMPLEX TRADING, LLC | Added | $247.0k204.8k shares |
| GROUP ONE TRADING LLC | Added | $240.4k198.7k shares |
| CITADEL ADVISORS LLC | Reduced | $205.6k169.9k shares |
| WOLVERINE TRADING, LLC | Reduced | $179.6k146.0k shares |
| JANE STREET GROUP, LLC | Added | $93.9k77.6k shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $2.3m1.9m shares |
| CITADEL ADVISORS LLC | Reduced | $822.0k679.3k shares |
| SIMPLEX TRADING, LLC | Reduced | $669.0k553.6k shares |
| GROUP ONE TRADING LLC | Added | $409.7k338.6k shares |
| Squarepoint Ops LLC | Unchanged | $228.4k188.8k shares |
| WOLVERINE TRADING, LLC | Reduced | $82.7k67.2k shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Insider purchases and sales in Q2 2025
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
None reported in Q2 2025.
Holders, Q2 2025
| Manager | Shares | Change |
|---|---|---|
| CANNELL CAPITAL LLC 3.38% of their portfolio | 9.0m $10.8m | Reduced -42.7k |
| Tidal Investments LLC 0.06% of their portfolio | 7.3m $8.8m | Added +178.6k |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 4.9m $5.9m | Added +338.3k |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 4.8m $5.8m | Added +4.8m |
| MORGAN STANLEY 0.00% of their portfolio | 3.8m $4.6m | Added +578.1k |
| MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio | 2.4m $2.9m | Added +1.9m |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.00% of their portfolio | 1.9m $2.3m | Reduced -50.9k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 1.4m $1.7m | Added +44.9k |
| AdvisorShares Investments LLC 0.24% of their portfolio | 1.1m $1.3m | Reduced -81.7k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.00% of their portfolio | 565.0k $683.6k | Reduced -1.2m |
| RBF Capital, LLC 0.03% of their portfolio | 425.0k $514.2k | Unchanged |
| State of Wyoming 0.06% of their portfolio | 421.7k $510.2k | Reduced -228.8k |
| Invesco Ltd. 0.00% of their portfolio | 392.8k $475.3k | Reduced -224.5k |
| STATE STREET CORP 0.00% of their portfolio | 379.4k $459.1k | Added +4.8k |
| Cambria Investment Management, L.P. 0.03% of their portfolio | 370.4k $448.1k | Added +47.0k |
| Qube Research & Technologies Ltd 0.00% of their portfolio | 355.0k $429.5k | Added +155.9k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 348.4k $421.6k | Reduced -10.2k |
| GROUP ONE TRADING LLC 0.01% of their portfolio | 328.3k $397.2k | Reduced -29.3k |
| DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio | 328.1k $397.0k | Reduced -11.7k |
| Cable Car Capital, LP 0.16% of their portfolio | 306.2k $370.5k | Unchanged |
| SkyView Investment Advisors, LLC 0.05% of their portfolio | 288.3k $355.0k | Added +12.5k |
| SIMPLEX TRADING, LLC 0.01% of their portfolio | 279.5k $338.0k | Reduced -46.5k |
| GSA CAPITAL PARTNERS LLP 0.02% of their portfolio | 221.1k $268.0k | New |
| OneDigital Investment Advisors LLC 0.00% of their portfolio | 211.3k $255.7k | Added +596 |
| JANE STREET GROUP, LLC 0.00% of their portfolio | 207.9k $251.6k | Added +112.7k |
| Baader Bank Aktiengesellschaft 0.02% of their portfolio | 173.7k $209.9k | Reduced -594 |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 164.9k $199.5k | Added +673 |
| Magnus Financial Group LLC 0.02% of their portfolio | 148.2k $179.4k | Added +28.0k |
| R Squared Ltd 0.09% of their portfolio | 140.7k $170.2k | Added +105.2k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 128.5k $155.5k | Reduced -295.8k |
| Cubist Systematic Strategies, LLC 0.00% of their portfolio | 123.2k $149.1k | Added +31.2k |
| Squarepoint Ops LLC 0.00% of their portfolio | 112.4k $136.0k | Added +17.7k |
| Leonteq Securities AG 0.01% of their portfolio | 102.1k $123.5k | Added +2.9k |
| Graham Capital Management, L.P. 0.00% of their portfolio | 96.5k $116.7k | Reduced -82.1k |
| Federation des caisses Desjardins du Quebec 0.00% of their portfolio | 93.3k $113.0k | Added +53.5k |
| TWO SIGMA SECURITIES, LLC 0.01% of their portfolio | 93.3k $112.9k | Added +50.9k |
| BlackRock, Inc. 0.00% of their portfolio | 70.4k $85.2k | Added +5.6k |
| XTX Topco Ltd 0.00% of their portfolio | 70.2k $85.0k | New |
| Newman Dignan & Sheerar, Inc. 0.02% of their portfolio | 64.4k $77.9k | Unchanged |
| SUSQUEHANNA ADVISORS GROUP, INC. 0.00% of their portfolio | 59.0k $71.4k | Unchanged |
| TWO SIGMA ADVISERS, LP 0.00% of their portfolio | 58.2k $70.4k | Added +22.7k |
| DARK FOREST CAPITAL MANAGEMENT LP 0.00% of their portfolio | 45.4k $55.0k | New |
| Aquatic Capital Management LLC 0.00% of their portfolio | 43.7k $52.8k | New |
| COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio | 42.7k $52.0k | Reduced -78 |
| Virtu Financial LLC 0.00% of their portfolio | 42.3k $51.0k | Reduced -40.6k |
| Man Group plc 0.00% of their portfolio | 37.8k $45.7k | Unchanged |
| SBI Securities Co., Ltd. 0.00% of their portfolio | 36.6k $44.3k | Added +70 |
| OXFORD ASSET MANAGEMENT LLP 0.01% of their portfolio | 36.1k $43.7k | Not comparable |
| Corient Private Wealth LP 0.00% of their portfolio | 30.1k $36.4k | Reduced -9.2k |
| LPL Financial LLC 0.00% of their portfolio | 28.8k $34.8k | Reduced -37.9k |
| SCOTIA CAPITAL INC. 0.00% of their portfolio | 27.3k $33.1k | Reduced -2.0k |
| Hilton Capital Management, LLC 0.00% of their portfolio | 24.6k $29.8k | New |
| Equitable Holdings, Inc. 0.00% of their portfolio | 22.8k $27.6k | Reduced -3 |
| UBS Group AG 0.00% of their portfolio | 22.2k $26.8k | Reduced -13.3k |
| Connor, Clark & Lunn Investment Management Ltd. 0.00% of their portfolio | 21.2k $25.7k | Unchanged |
| JEPPSON WEALTH MANAGEMENT, LLC 0.01% of their portfolio | 20.0k $24.2k | Unchanged |
| NATIONAL BANK OF CANADA /FI/ 0.00% of their portfolio | 18.0k $13.2k | Reduced -19.3k |
| WOLVERINE TRADING, LLC 0.00% of their portfolio | 17.8k $21.9k | Reduced -3.2k |
| NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio | 17.0k $20.6k | Added +17.0k |
| EntryPoint Capital, LLC 0.01% of their portfolio | 16.9k $20.4k | Reduced -649 |
| Caliber Wealth Management, LLC / KS 0.00% of their portfolio | 16.2k $19.6k | Unchanged |
| StoneX Group Inc. 0.00% of their portfolio | 13.6k $16.5k | New |
| PFG Investments, LLC 0.00% of their portfolio | 13.0k $15.7k | Unchanged |
| BANK OF MONTREAL /CAN/ 0.00% of their portfolio | 12.0k $14.5k | Added +413 |
| Revisor Wealth Management LLC 0.01% of their portfolio | 11.9k $16.9k | New |
| CoreCap Advisors, LLC 0.00% of their portfolio | 11.1k $13.5k | Unchanged |
| WINTON GROUP Ltd 0.00% of their portfolio | 11.0k $13.4k | New |
| HighTower Advisors, LLC 0.00% of their portfolio | 10.9k $13.2k | Added +550 |
| 1832 Asset Management L.P. 0.00% of their portfolio | 10.5k $12.7k | Unchanged |
| HOEY INVESTMENTS, INC 0.00% of their portfolio | 10.0k $12.1k | Added +6.0k |
| NAPLES GLOBAL ADVISORS, LLC 0.00% of their portfolio | 10.0k $12.1k | Unchanged |
| PFS Partners, LLC 0.00% of their portfolio | 6.0k $7.3k | Unchanged |
| OSAIC HOLDINGS, INC. 0.00% of their portfolio | 5.5k $6.7k | Added +2.1k |
| Caitong International Asset Management Co., Ltd 0.00% of their portfolio | 4.9k $6.0k | Added +3.0k |
| Farther Finance Advisors, LLC 0.00% of their portfolio | 4.8k $5.8k | Unchanged |
| TD Waterhouse Canada Inc. 0.00% of their portfolio | 4.8k $5.8k | Added +3.5k |
| HighMark Wealth Management LLC 0.00% of their portfolio | 3.0k $3.6k | New |
| LOUISBOURG INVESTMENTS INC. 0.00% of their portfolio | 2.9k $3.5k | Unchanged |
| LRI Investments, LLC 0.00% of their portfolio | 1.9k $2.3k | New |
| RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio | 1.8k $2.1k | New |
| IFP Advisors, Inc 0.00% of their portfolio | 1.1k $1.3k | New |
| Allworth Financial LP 0.00% of their portfolio | 1.0k $1.2k | New |
| FNY Investment Advisers, LLC 0.00% of their portfolio | 1.0k $1.0k | Added +300 |
| Tower Research Capital LLC (TRC) 0.00% of their portfolio | 957 $1.2k | Reduced -1.2k |
| Global Retirement Partners, LLC 0.00% of their portfolio | 912 $1.1k | First filing |
| Arax Advisory Partners 0.00% of their portfolio | 859 $1.0k | Unchanged |
| Sound Income Strategies, LLC 0.00% of their portfolio | 710 $859 | Unchanged |
| ELEVATION POINT WEALTH PARTNERS, LLC 0.00% of their portfolio | 600 $726 | New |
| Security National Bank 0.00% of their portfolio | 575 $696 | Unchanged |
| Ravenstone Capital Management Inc. 0.00% of their portfolio | 383 $464 | Unchanged |
| CIBC Private Wealth Group LLC 0.00% of their portfolio | 290 $351 | Unchanged |
| Kessler Investment Group, LLC 0.00% of their portfolio | 268 $324 | Unchanged |
| Prestige Wealth Management Group LLC 0.00% of their portfolio | 249 $302 | Unchanged |
| Ameritas Advisory Services, LLC 0.00% of their portfolio | 247 $299 | New |
| Clean Yield Group 0.00% of their portfolio | 222 $269 | Unchanged |
| Hilltop National Bank 0.00% of their portfolio | 200 $242 | First filing |
| HARBOUR INVESTMENTS, INC. 0.00% of their portfolio | 160 $194 | Unchanged |
| CWM, LLC 0.00% of their portfolio | 160 $0 | Unchanged |
| Aventura Private Wealth, LLC 0.00% of their portfolio | 130 $157 | Unchanged |
| PEOPLES FINANCIAL SERVICES CORP. 0.00% of their portfolio | 100 $121 | Unchanged |