[SCHEDULE 13G] SOL Strategies Inc. Passive Investment Disclosure (>5%)
SOL Strategies Inc. Passive Investment Disclosure (>5%)
Bank of Montreal and affiliates report a significant ownership stake in SOL Strategies Inc. The filing shows beneficial ownership of 2,727,928 common shares, representing 9.72% of the outstanding class as of 12/31/2025.
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Bank of Montreal and affiliates report a significant ownership stake in SOL Strategies Inc. The filing shows beneficial ownership of 2,727,928 common shares, representing 9.72% of the outstanding class as of 12/31/2025. Voting and investment power are split between 349 shares held with sole power and 2,727,579 shares with shared power for each reporting entity.
Certain securities are held in the ordinary course of business while acting as prime broker for clients, who may direct dividends and sale proceeds. The reporting persons certify the holdings were acquired and are held in the ordinary course and not for the purpose of changing or influencing control of SOL Strategies.
Insights
Large holder discloses a passive 9.72% stake in SOL Strategies.
Bank of Montreal, BANK OF MONTREAL HOLDING INC., and BMO NESBITT BURNS INC. report beneficial ownership of 2,727,928 SOL Strategies common shares, equal to 9.72% of the class as of 12/31/2025. This crosses the 5% threshold that requires public disclosure.
The filing details that 349 shares per reporting entity are subject to sole voting and dispositive power, while 2,727,579 shares per entity are subject to shared voting and dispositive power. Some securities are held as prime broker for clients, who can direct dividends and sale proceeds.
The certification states the position is held in the ordinary course of business and not to change or influence control. This aligns with a passive ownership stance. Future changes in percentage ownership or a switch to a different filing type would be visible in subsequent beneficial ownership reports.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What ownership stake does Bank of Montreal report in SOL Strategies Inc. (STKE)?
Bank of Montreal and its affiliates report beneficial ownership of 2,727,928 SOL Strategies common shares, representing 9.72% of the class as of December 31, 2025. This crosses the 5% disclosure threshold for institutional investors under U.S. beneficial ownership rules.
Which entities are reporting beneficial ownership in SOL Strategies Inc. (STKE)?
The filing lists three reporting persons: Bank of Montreal, BANK OF MONTREAL HOLDING INC., and BMO NESBITT BURNS INC.. Each is organized at the Canada federal level and reports the same aggregate beneficial ownership and voting and dispositive power structure over the SOL Strategies shares.
How many SOL Strategies (STKE) shares does Bank of Montreal have voting power over?
The filing shows 349 shares subject to sole voting power for each reporting entity and 2,727,579 shares subject to shared voting power. These figures match their sole and shared dispositive power, indicating similar control over voting and potential sale of these shares.
Is Bank of Montreal’s 9.72% SOL Strategies (STKE) position considered passive or controlling?
The reporting persons certify the securities were acquired and are held in the ordinary course of business and not for the purpose or effect of changing or influencing control of SOL Strategies. This aligns with a passive ownership stance under Schedule 13G requirements.
Are any SOL Strategies (STKE) shares held by Bank of Montreal on behalf of clients?
Yes. The filing explains that certain securities are held in the ordinary course of business while the reporting person acts as prime broker for specific clients. Those clients may have the right to receive dividends or sale proceeds on positions exceeding 5% of the class.
What class of SOL Strategies (STKE) securities is covered by this Schedule 13G?
The Schedule 13G covers Common Shares, no par value of SOL Strategies Inc., identified by CUSIP 83411A205. The reported beneficial ownership and related voting and dispositive powers all relate to this single class of equity securities.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
SOL Strategies Inc.
(Name of Issuer)
Common Shares, no par value
(Title of Class of Securities)
83411A205
(CUSIP Number)
12/31/2025
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
SCHEDULE 13G
CUSIP No.
83411A205
1
Names of Reporting Persons
Bank of Montreal
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
CANADA (FEDERAL LEVEL)
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
349.00
6
Shared Voting Power
2,727,579.00
7
Sole Dispositive Power
349.00
8
Shared Dispositive Power
2,727,579.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,727,928.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
9.72 %
12
Type of Reporting Person (See Instructions)
HC
SCHEDULE 13G
CUSIP No.
83411A205
1
Names of Reporting Persons
BANK OF MONTREAL HOLDING INC.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
CANADA (FEDERAL LEVEL)
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
349.00
6
Shared Voting Power
2,727,579.00
7
Sole Dispositive Power
349.00
8
Shared Dispositive Power
2,727,579.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,727,928.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
9.72 %
12
Type of Reporting Person (See Instructions)
BK
SCHEDULE 13G
CUSIP No.
83411A205
1
Names of Reporting Persons
BMO NESBITT BURNS INC.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
CANADA (FEDERAL LEVEL)
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
349.00
6
Shared Voting Power
2,727,579.00
7
Sole Dispositive Power
349.00
8
Shared Dispositive Power
2,727,579.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,727,928.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
9.72 %
12
Type of Reporting Person (See Instructions)
BD
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
SOL Strategies Inc.
(b)
Address of issuer's principal executive offices:
217 QUEEN STREET WEST, SUITE 401, TORONTO, ONTARIO, CANADA
M5X 1B1
Item 2.
(a)
Name of person filing:
Bank of Montreal
BANK OF MONTREAL HOLDING INC.
BMO NESBITT BURNS INC.
(b)
Address or principal business office or, if none, residence:
1 First Canadian Place
Toronto, Ontario, Canada
M5X1A1
(c)
Citizenship:
Bank of Montreal - CANADA (FEDERAL LEVEL)
BANK OF MONTREAL HOLDING INC. - CANADA (FEDERAL LEVEL)
BMO NESBITT BURNS INC. - CANADA (FEDERAL LEVEL)
(d)
Title of class of securities:
Common Shares, no par value
(e)
CUSIP No.:
83411A205
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
2,727,928
(b)
Percent of class:
9.72 %
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
Bank of Montreal - 349
BANK OF MONTREAL HOLDING INC. - 349
BMO NESBITT BURNS INC. - 349
(ii) Shared power to vote or to direct the vote:
Bank of Montreal - 2,727,579
BANK OF MONTREAL HOLDING INC. - 2,727,579
BMO NESBITT BURNS INC. - 2,727,579
(iii) Sole power to dispose or to direct the disposition of:
Bank of Montreal - 349
BANK OF MONTREAL HOLDING INC. - 349
BMO NESBITT BURNS INC. - 349
(iv) Shared power to dispose or to direct the disposition of:
Bank of Montreal - 2,727,579
BANK OF MONTREAL HOLDING INC. - 2,727,579
BMO NESBITT BURNS INC. - 2,727,579
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
Certain of the securities reported herein are held in the ordinary course of business of the Reporting Person acting as prime broker on behalf of certain clients who have the power to direct the receipt of dividends from, or the proceeds from the sale of such securities.
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary.
See Documents
Item 8.
Identification and Classification of Members of the Group.
If a group has filed this schedule pursuant to §240.13d-1(b)(1)(ii)(K), so indicate under Item 3(k) and attach an exhibit stating the identity and Item 3 classification of each member of the group. If a group has filed this schedule pursuant to §240.13d-1(c) or §240.13d-1(d), attach an exhibit stating the identity of each member of the group.
Each reporting person may be deemed to be a member of a group with respect to the issuer or securities of the issuer for the purposes of Section 13(d) or 13(g) of the Act. Each reporting person declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section13(d) or 13(g) of the Act or any other purpose, (i) acting (or has agreed or is agreeing to act) with any other person as a partnership, limited partnership, syndicate, or other group for the purpose of acquiring, holding, or disposing of securities of the issuer or otherwise with respect to the issuer or any securities of the issuer or (ii) a member of any syndicate or group with respect to the issuer or any securities of the issuer.
Item 9.
Notice of Dissolution of Group.
Notice of dissolution of a group may be furnished as an exhibit stating the date of the dissolution and that all further filings with respect to transactions in the security reported on will be filed, if required, by members of the group, in their individual capacity. See Item 5.
Each reporting person may be deemed to be a member of a group with respect to the issuer or securities of the issuer for the purposes of Section 13(d) or 13(g) of the Act. Each reporting person declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section13(d) or 13(g) of the Act or any other purpose, (i) acting (or has agreed or is agreeing to act) with any other person as a partnership, limited partnership, syndicate, or other group for the purpose of acquiring, holding, or disposing of securities of the issuer or otherwise with respect to the issuer or any securities of the issuer or (ii) a member of any syndicate or group with respect to the issuer or any securities of the issuer.
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
