CIK 1113234
Long positions in SEC Section 13(f) securities (US-listed stocks, ADRs and ETFs), largest first · Δ vs 2025-Q4. A lagged quarterly snapshot (filed ≤45 days after quarter-end); excludes shorts, options, cash, and shares listed only on non-US exchanges — foreign companies held via a US listing or ADR (e.g. Alibaba, TSMC) ARE included.
As filed = each book applied at its quarter-end (what the reported book did) · As copyable = applied at its statutory 45-day filing deadline (what a 13F follower could have earned).
Computing…
Hypothetical modeled performance constructed with hindsight — not actual results, and not indicative of future results. See the Disclaimer.
| Industry group | Weight | Names |
|---|---|---|
| Banks | 57.67% | 5 |
| Insurance | 23.27% | 2 |
| Unclassified | 19.06% | 2 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | MFC | MANULIFE FINANCIAL CORP | Financials | 18.16% |
| 2 | BNS | BANK OF NOVA SCOTIA | Financials | 13.71% |
| 3 | VOO | VANGUARD INDEX FDS | Unclassified | 12.78% |
| 4 | CM | CANADIAN IMPERIAL BANK OF COMMERCE /CAN/ | Financials | 12.49% |
| 5 | TD | TORONTO DOMINION BANK | Financials | 12.31% |
| 6 | BMO | BANK OF MONTREAL /CAN/ | Financials | 11.16% |
| 7 | RY | ROYAL BANK OF CANADA | Financials | 7.99% |
| 8 | BRK.B | BERKSHIRE HATHAWAY INC | Financials | 6.28% |
| 9 | MKL | MARKEL GROUP INC. | Financials | 5.11% |
8/9 names classified · sector 87.2% of weight · industry 80.9% · mkt cap 47.3%; unclassified names shown, never dropped.
Sector is classified on each name's CURRENT fundamentals, not point-in-time — apparent sector drift can reflect the market re-rating a holding, not a manager trade. 13F is a lagged quarterly snapshot of long positions in US-listed securities only — foreign companies held via a US listing or ADR ARE included, but shares listed only on non-US exchanges (plus shorts, options and cash) are not. Latest quarter: 87.2% of the book is sector-classified (unclassified names shown, never dropped).
Only 5% of book weight classified — the grid is NOT representative of the whole book.
Classified: 5.1% of book weight (1/9 names) · unclassified 94.9%: MFC, BNS, VOO, CM, TD, BMO, RY, BRK.B. Size: cap 70/20/10 bands; style: value/growth composite on our own metrics — not Morningstar's model.
No contribution data for this period.
| # | Security | Shares | Value | Weight | Δ QoQ |
|---|---|---|---|---|---|
| 1 | MFCMANULIFE FINL CORP | 800,000 | $38M | 18.2% | ADD 27% |
| 2 | BNSBANK NOVA SCOTIA B C | 300,000 | $29M | 13.7% | HOLD |
| 3 | VOOVANGUARD INDEX FDS | 45,150 | $27M | 12.8% | HOLD |
| 4 | CMCANADIAN IMPERIAL BANK OF CO | 200,000 | $26M | 12.5% | HOLD |
| 5 | TDTORONTO DOMINION BK ONT | 200,000 | $26M | 12.3% | HOLD |
| 6 | BMOBANK MONTREAL MEDIUM | 125,000 | $24M | 11.2% | HOLD |
| 7 | RYROYAL BK CDA | 75,000 | $17M | 8.0% | ADD 15% |
| 8 | BRK.BBERKSHIRE HATHAWAY INC DEL | 27,640 | $13M | 6.3% | HOLD |
| 9 | MKLMARKEL GROUP INC | 5,635 | $11M | 5.1% | HOLD |
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| MFCMANULIFE FINL CORP | 600K | 600K | 620K | 650K | 630K | 800K | $38M |
| BNSBANK NOVA SCOTIA B C | 300K | 300K | 300K | 300K | 300K | 300K | $29M |
| VOOVANGUARD INDEX FDS | 45K | 45K | 45K | 45K | 45K | 45K | $27M |
| CMCANADIAN IMPERIAL BANK OF CO | 200K | 200K | 200K | 200K | 200K | 200K | $26M |
| TDTORONTO DOMINION BK ONT | 200K | 200K | 200K | 200K | 200K | 200K | $26M |
| BMOBANK MONTREAL MEDIUM | 125K | 125K | 125K | 125K | 125K | 125K | $24M |
| RYROYAL BK CDA | 65K | 65K | 65K | 65K | 65K | 75K | $17M |
| BRK.BBERKSHIRE HATHAWAY INC DEL | 26K | 26K | 26K | 28K | 28K | 28K | $13M |
| MKLMARKEL GROUP INC | 6K | 6K | 6K | 6K | 6K | 6K | $11M |
Shares reported each quarter by the largest current holdings. Green = added vs the prior filing of that name, red = trimmed, grey = roughly held; a dash is a quarter with no 13F on file (a gap is skipped, not read as an exit). 13F is filed up to 45 days after quarter-end. Up to 40 quarters (10 years) available — use the selector above.
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