CIK 1656187
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 | 27.76% | 5 |
| Oil, Gas & Consumable Fuels | 16.18% | 6 |
| Metals & Mining | 15.39% | 6 |
| Utilities | 7.70% | 3 |
| Software | 6.19% | 1 |
| Road & Rail | 5.40% | 2 |
| Real Estate Management & Development | 4.05% | 2 |
| Insurance | 3.94% | 2 |
| Diversified Telecommunication Services | 1.79% | 2 |
| Commercial Services & Supplies | 1.77% | 1 |
| Chemicals | 1.55% | 1 |
| Semiconductors & Semiconductor Equipment | 1.38% | 1 |
| Unclassified | 1.34% | 2 |
| Hotels, Restaurants & Leisure | 1.09% | 1 |
| Construction Materials | 0.99% | 1 |
| Capital Markets | 0.71% | 1 |
| Automobiles & Components | 0.62% | 1 |
| Professional Services | 0.59% | 1 |
| Media & Publishing | 0.51% | 1 |
| Textiles, Apparel & Luxury Goods | 0.44% | 1 |
| Technology Hardware & Equipment | 0.36% | 1 |
| Software & IT Services | 0.24% | 1 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | RY | ROYAL BANK OF CANADA | Financials | 9.62% |
| 2 | TD | TORONTO DOMINION BANK | Financials | 6.67% |
| 3 | SHOP | SHOPIFY INC. | Information Technology | 6.19% |
| 4 | TRP | TC ENERGY CORP | Utilities | 5.83% |
| 5 | ENB | ENBRIDGE INC | Energy | 5.04% |
| 6 | AEM | AGNICO EAGLE MINES LTD | Materials | 4.33% |
| 7 | CNQ | CANADIAN NATURAL RESOURCES LTD | Energy | 4.32% |
| 8 | BMO | BANK OF MONTREAL /CAN/ | Financials | 4.07% |
| 9 | BN | BROOKFIELD Corp /ON/ | Real Estate | 3.80% |
| 10 | CM | CANADIAN IMPERIAL BANK OF COMMERCE /CAN/ | Financials | 3.75% |
41/43 names classified · sector 98.7% of weight · industry 98.7% · mkt cap 31.8%; 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: 98.7% of the book is sector-classified (unclassified names shown, never dropped).
Only 10% of book weight classified — the grid is NOT representative of the whole book.
Classified: 9.5% of book weight (5/43 names) · unclassified 90.5%: RY, TD, TRP, ENB, AEM, CNQ, BMO, BN, CM, BNS +28 more. 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 | RYROYAL BK CDA | 2,073,220 | $335M | 9.6% | TRIM −3% |
| 2 | TDTORONTO DOMINION BK ONT | 2,489,513 | $232M | 6.7% | TRIM −4% |
| 3 | SHOPSHOPIFY INC | 1,818,588 | $215M | 6.2% | TRIM −2% |
| 4 | TRPTC ENERGY CORP | 3,243,522 | $203M | 5.8% | TRIM −40% |
| 5 | ENBENBRIDGE INC | 3,236,273 | $175M | 5.0% | TRIM −3% |
| 6 | AEMAGNICO EAGLE MINES LTD | 743,181 | $151M | 4.3% | TRIM −3% |
| 7 | CNQCANADIAN NAT RES LTD | 3,087,764 | $150M | 4.3% | TRIM −3% |
| 8 | BMOBANK MONTREAL MEDIUM | 1,047,567 | $142M | 4.1% | TRIM −3% |
| 9 | BNBROOKFIELD CORP | 3,269,278 | $132M | 3.8% | HOLD |
| 10 | CMCANADIAN IMPERIAL BANK OF CO | 1,377,647 | $130M | 3.7% | TRIM −3% |
| 11 | BNSBANK NOVA SCOTIA B C | 1,828,607 | $127M | 3.6% | TRIM −3% |
| 12 | SUSUNCOR ENERGY INC NEW | 1,765,047 | $117M | 3.4% | TRIM −4% |
| 13 | CPCANADIAN PACIFIC KANSAS CITY | 1,331,643 | $105M | 3.0% | TRIM −3% |
| 14 | BBARRICK MNG CORP | 2,485,070 | $101M | 2.9% | TRIM −3% |
| 15 | WPMWHEATON PRECIOUS METALS CORP | 673,474 | $88M | 2.5% | TRIM −3% |
| 16 | MFCMANULIFE FINL CORP | 2,487,122 | $86M | 2.5% | TRIM −3% |
| 17 | CNICANADIAN NATL RY CO | 809,402 | $83M | 2.4% | TRIM −3% |
| 18 | FNVFRANCO NEV CORP | 285,980 | $71M | 2.0% | TRIM −3% |
| 19 | CCJCAMECO CORP | 646,029 | $70M | 2.0% | TRIM −3% |
| 20 | WCNWASTE CONNECTIONS INC | 379,250 | $62M | 1.8% | TRIM −3% |
| 21 | KGCKINROSS GOLD CORP | 1,779,734 | $54M | 1.6% | TRIM −3% |
| 22 | NTRNUTRIEN LTD | 714,117 | $54M | 1.5% | TRIM −3% |
| 23 | CVECENOVUS ENERGY INC | 2,007,874 | $53M | 1.5% | TRIM −4% |
| 24 | SLFSUN LIFE FINANCIAL INC. | 821,562 | $51M | 1.5% | TRIM −3% |
| 25 | CLSCELESTICA INC | 170,442 | $48M | 1.4% | TRIM −3% |
| 26 | FTSFORTIS INC | 752,540 | $42M | 1.2% | TRIM −2% |
| 27 | PBAPEMBINA PIPELINE CORP | 861,940 | $39M | 1.1% | TRIM −3% |
| 28 | QSRRESTAURANT BRANDS INTL INC | 513,703 | $38M | 1.1% | ADD 3% |
| 29 | BCEBCE INC | 1,383,221 | $35M | 1.0% | TRIM −3% |
| 30 | TECKTECK RESOURCES LTD | 664,068 | $34M | 1.0% | TRIM −2% |
| 31 | IMOIMPERIAL OIL LTD | 222,368 | $29M | 0.8% | TRIM −5% |
| 32 | TUTELUS CORPORATION | 2,145,630 | $28M | 0.8% | TRIM −7% |
| 33 | BAMBROOKFIELD ASSET MANAGMT LTD | 558,805 | $25M | 0.7% | TRIM −3% |
| 34 | BIPBROOKFIELD INFRAST PARTNERS | 683,053 | $25M | 0.7% | TRIM −3% |
| 35 | EMAEMERA INC | 447,593 | $23M | 0.7% | TRIM −2% |
| 36 | RCIROGERS COMMUNICATIONS INC | 572,807 | $22M | 0.6% | TRIM −3% |
| 37 | MGAMAGNA INTL INC | 388,829 | $22M | 0.6% | TRIM −4% |
| 38 | GIBCGI INC | 282,770 | $21M | 0.6% | TRIM −5% |
| 39 | TRITHOMSON REUTERS CORP | 198,031 | $18M | 0.5% | TRIM −3% |
| 40 | GILGILDAN ACTIVEWEAR INC | 274,664 | $15M | 0.4% | TRIM −3% |
| 41 | CAECAE INC | 477,335 | $12M | 0.4% | TRIM −3% |
| 42 | FSVFIRSTSERVICE CORP NEW | 61,037 | $8M | 0.2% | TRIM −3% |
| 43 | OTEXOPEN TEXT CORP | 371,721 | $8M | 0.2% | TRIM −3% |
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| RYROYAL BK CDA | 2.2M | 2.2M | 2.4M | 2.3M | 2.1M | 2.1M | $335M |
| TDTORONTO DOMINION BK ONT | 2.7M | 3.5M | 2.9M | 2.8M | 2.6M | 2.5M | $232M |
| SHOPSHOPIFY INC | 1.9M | 1.9M | 2.1M | 2.0M | 1.9M | 1.8M | $215M |
| TRPTC ENERGY CORP | 6.2M | 7.9M | 4.8M | 4.7M | 5.4M | 3.2M | $203M |
| ENBENBRIDGE INC | 3.3M | 3.3M | 3.7M | 3.6M | 3.3M | 3.2M | $175M |
| AEMAGNICO EAGLE MINES LTD | 766K | 767K | 853K | 832K | 765K | 743K | $151M |
| CNQCANADIAN NAT RES LTD | 3.2M | 3.2M | 3.6M | 3.5M | 3.2M | 3.1M | $150M |
| BMOBANK MONTREAL MEDIUM | 1.1M | 1.1M | 1.2M | 1.2M | 1.1M | 1.0M | $142M |
| BNBROOKFIELD CORP | 2.2M | 2.2M | 2.4M | 2.4M | 3.3M | 3.3M | $132M |
| CMCANADIAN IMPERIAL BANK OF CO | 2.3M | 1.4M | 1.6M | 1.5M | 1.4M | 1.4M | $130M |
| BNSBANK NOVA SCOTIA B C | 1.9M | 2.2M | 2.1M | 2.1M | 1.9M | 1.8M | $127M |
| SUSUNCOR ENERGY INC NEW | 1.9M | 1.9M | 2.1M | 2.0M | 1.8M | 1.8M | $117M |
| CPCANADIAN PACIFIC KANSAS CITY | 1.4M | 1.4M | 1.6M | 1.5M | 1.4M | 1.3M | $105M |
| BBARRICK MNG CORP | — | — | 2.9M | 2.8M | 2.6M | 2.5M | $101M |
| WPMWHEATON PRECIOUS METALS CORP | 693K | 692K | 769K | 751K | 691K | 673K | $88M |
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.
Where this firm's principals came from and which firms its alumni went on to found.
