Disney's new release "Frozen 2" iced out competitors to top North American box offices over the weekend, taking in an estimated $127 million.

That's according to figures from industry watcher, Exhibitor Relations.

The film follows the beloved characters from 2013 hit "Frozen," as they travel to an ancient, autumn-bound forest in search of the origin of Queen Elsa's magical ice powers.

"Frozen 2," which has come out just in time for the winter holidays, set a November record for an animated movie and secured the third-best start for an animated film behind fellow Disney titles "Incredibles 2" and "Finding Dory", according to Variety.

In second was last week's leader, "Ford v. Ferrari," with an estimated $16 million.

The Fox film is based on the true story of how a team at Ford built a car to challenge Ferrari's longtime dominance of France's classic 24-hour Le Mans race.

New Sony release "A Beautiful Day in the Neighborhood," a drama about a journalist's relationship with beloved television star Fred Rogers, debuted in third place with an estimated $13.5 million.