TELESAT CORP TSAT
CL A & CL B SHS · Common Stock · CUSIP 879512309 · ISIN CA8795123097
- SectorCommunication
- IndustryCommunications Services, NEC
- FilingsSEC EDGAR
* 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 ($3.3m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $9.11. Options: 4 managers hold calls ($49.1k notional), 4 hold puts ($196.6k).
Trends to Q2 2024
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 55 |
| Q4 2022 | 50 |
| Q1 2023 | 44 |
| Q2 2023 | 45 |
| Q3 2023 | 47 |
| Q4 2023 | 50 |
| Q1 2024 | 46 |
| Q2 2024 | 40 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q4 2022 | 13 | 30 |
| Q1 2023 | 11 | 23 |
| Q2 2023 | 11 | 18 |
| Q3 2023 | 23 | 23 |
| Q4 2023 | 22 | 22 |
| Q1 2024 | 12 | 23 |
| Q2 2024 | 13 | 20 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2023 | $3.6m | $1.3m | 0.37 |
| Q4 2023 | $1.2m | $240.9k | 0.20 |
| Q1 2024 | $456.6k | $122.8k | 0.27 |
| Q2 2024 | $49.1k | $196.6k | 4.00 |
Biggest buyers
| Simplify Asset Management Inc. | Added | +75.0k |
| Propel Bio Management, LLC | Added | +75.0k |
| Federation des caisses Desjardins du Quebec | Added | +25.7k |
| Pathstone Holdings, LLC | Added | +24.0k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | +11.9k |
| CITADEL ADVISORS LLC | Added | +11.6k |
| UBS Group AG | Added | +8.4k |
| Heard Capital LLC | Added | +3.5k |
| JPMORGAN CHASE & CO | Added | +2.4k |
| ROYAL BANK OF CANADA | Added | +631 |
Biggest sellers
| GABELLI FUNDS LLC | Reduced | -122.2k |
| GARNET EQUITY CAPITAL HOLDINGS, INC. | Sold out | -100.0k |
| NewGen Asset Management Ltd | Sold out | -50.0k |
| LANDSCAPE CAPITAL MANAGEMENT, L.L.C. | Sold out | -40.0k |
| Penserra Capital Management LLC | Sold out | -38.2k |
| GAMCO INVESTORS, INC. ET AL | Reduced | -34.6k |
| BANK OF AMERICA CORP /DE/ | Reduced | -33.6k |
| MILLENNIUM MANAGEMENT LLC | Sold out | -23.9k |
| ARS Investment Partners, LLC | Reduced | -21.3k |
| TWO SIGMA INVESTMENTS, LP | Sold out | -14.1k |
Biggest calls
| CITADEL ADVISORS LLC | Reduced | $31.9k3.5k shares |
| SIMPLEX TRADING, LLC | Unchanged | $10.0k1.1k shares |
| GROUP ONE TRADING LLC | Reduced | $7.3k800 shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
Biggest puts
| CITADEL ADVISORS LLC | Added | $157.4k17.3k shares |
| SIMPLEX TRADING, LLC | Added | $21.0k2.4k shares |
| GROUP ONE TRADING LLC | Unchanged | $18.2k2.0k 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.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
MHR FUND MANAGEMENT LLC
13D · may seek influence
filed 2026-07-09
Stated purposeItem 4 is hereby amended and restated as follows. All of the Class B Shares reported on this Schedule 13D were acquired for investment purposes. The Reporting Persons intend to review their holdings in the Issuer on a continuing basis and as part of this ongoing review evaluate various alternatives that are or may become available with respect to the Issuer and its securities. Except as otherwise set forth in this Schedule 13D, neither the Reporting Persons nor, to the best of their knowledge, any of the other persons identified in response to Item 2 hereof, has any plans or proposals that relate to or would result in the occurrence of any of the transactions described in subparagraphs (b) through (j) of Item 4 of Schedule 13D. (a) The Reporting Persons may from time to time and at any t… Full filing |
35.5% |
GAMCO INVESTORS, INC. ET AL
13D · may seek influence
-0.7 pts · filed 2026-04-02
Stated purposeThe Reporting Persons file the long form Schedule 13D pursuant to Section 13d-1 of the Securities Exchange Act of 1934 (the "Act") even though they may be technically eligible to file the short form Schedule G. Because the Reporting Persons may regularly communicate with the Issuer's management, filing the Schedule 13D ensures that these conversations are compliant with the reporting obligations under the Exchange Act. Full filing |
11.6% |
| Greywolf Capital Management LP 13G · passive investor filed 2025-02-12 | 6.2% |
Fell to 5% or below in the last year: Rubric Capital Management LP (0.0%, 2026-08-14), Heard Capital LLC (4.2%, 2026-05-15)
Insider purchases and sales in Q2 2024
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 2024.
Holders, Q2 2024
| Manager | Shares | Change |
|---|---|---|
| Public Sector Pension Investment Board 1.06% of their portfolio | 18.2m $166.4m | Unchanged |
| MHR FUND MANAGEMENT LLC 20.00% of their portfolio | 18.0m $164.1m | Unchanged |
| GAMCO INVESTORS, INC. ET AL 0.21% of their portfolio | 2.1m $19.2m | Reduced -34.6k |
| Heard Capital LLC 0.98% of their portfolio | 1.8m $16.1m | Added +3.5k |
| Rubric Capital Management LP 0.23% of their portfolio | 959.8k $8.7m | Unchanged |
| GABELLI FUNDS LLC 0.06% of their portfolio | 902.4k $8.2m | Reduced -122.2k |
| NEXPOINT ASSET MANAGEMENT, L.P. 0.71% of their portfolio | 590.9k $5.4m | Unchanged |
| Simplify Asset Management Inc. 0.29% of their portfolio | 365.8k $3.3m | Added +75.0k |
| Propel Bio Management, LLC 2.16% of their portfolio | 365.8k $3.3m | Added +75.0k |
| Tejara Capital Ltd 0.52% of their portfolio | 158.2k $1.4m | Reduced -10.0k |
| GABELLI & Co INVESTMENT ADVISERS, INC. 0.15% of their portfolio | 100.8k $917.4k | Reduced -1.0k |
| Connor, Clark & Lunn Investment Management Ltd. 0.00% of their portfolio | 50.5k $459.9k | Reduced -5.5k |
| Pathstone Holdings, LLC 0.00% of their portfolio | 49.0k $445.8k | Added +24.0k |
| National Philanthropic Trust 0.01% of their portfolio | 40.0k $364.0k | Unchanged |
| Federation des caisses Desjardins du Quebec 0.00% of their portfolio | 39.5k $334.3k | Added +25.7k |
| RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio | 28.7k $261.2k | Reduced -2.8k |
| Platform Technology Partners 0.09% of their portfolio | 27.7k $251.7k | First filing |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 24.8k $226.1k | Added +11.9k |
| ARS Investment Partners, LLC 0.01% of their portfolio | 15.6k $141.7k | Reduced -21.3k |
| PEAPACK GLADSTONE FINANCIAL CORP 0.00% of their portfolio | 13.9k $126.0k | Unchanged |
| CITADEL ADVISORS LLC 0.00% of their portfolio | 12.4k $112.5k | Added +11.6k |
| Asset Management One Co., Ltd. 0.00% of their portfolio | 8.8k $80.4k | Unchanged |
| UBS Group AG 0.00% of their portfolio | 8.5k $77.2k | Added +8.4k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 7.4k $67.5k | Reduced -33.6k |
| NATIONAL BANK OF CANADA /FI/ 0.00% of their portfolio | 6.8k $56.9k | Added +40 |
| Ancora Advisors LLC 0.00% of their portfolio | 6.4k $58.2k | Unchanged |
| Central Pacific Bank - Trust Division 0.00% of their portfolio | 4.5k $40.8k | Reduced -1.7k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 3.4k $31.2k | Added +2.4k |
| MORGAN STANLEY 0.00% of their portfolio | 3.1k $28.4k | Reduced -13.6k |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 1.0k $9.0k | Added +631 |
| Tower Research Capital LLC (TRC) 0.00% of their portfolio | 212 $1.9k | New |
| WealthCollab, LLC 0.00% of their portfolio | 195 $1.7k | Unchanged |
| WHITTIER TRUST CO 0.00% of their portfolio | 165 $1.5k | Unchanged |
| OSAIC HOLDINGS, INC. 0.00% of their portfolio | 125 $1.1k | New |
| Glass Jacobson Investment Advisors llc 0.00% of their portfolio | 100 $910 | Unchanged |
| Beacon Capital Management, LLC 0.00% of their portfolio | 95 $865 | Reduced -3 |
| BARCLAYS PLC 0.00% of their portfolio | 80 $728 | Unchanged |
| Farther Finance Advisors, LLC 0.00% of their portfolio | 9 $76 | Unchanged |
| Qube Research & Technologies Ltd 0.00% of their portfolio | 1 $9 | Unchanged |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio | 0 $0 | Unchanged |