CIK 1765768
Long positions in SEC Section 13(f) securities (US-listed stocks, ADRs and ETFs), largest first · Δ vs 2025-Q2. 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 |
|---|---|---|
| Metals & Mining | 19.12% | 4 |
| Banks | 17.26% | 4 |
| Oil, Gas & Consumable Fuels | 15.15% | 3 |
| Insurance | 6.96% | 2 |
| Chemicals | 6.06% | 4 |
| Road & Rail | 6.03% | 2 |
| Professional Services | 4.61% | 1 |
| Diversified Telecommunication Services | 4.13% | 1 |
| Machinery | 4.13% | 2 |
| Hotels, Restaurants & Leisure | 4.02% | 1 |
| Textiles, Apparel & Luxury Goods | 3.33% | 1 |
| Paper & Forest Products | 3.07% | 1 |
| Automobiles & Components | 1.61% | 1 |
| Aerospace & Defense | 0.93% | 2 |
| Distributors | 0.92% | 1 |
| Technology Hardware & Equipment | 0.73% | 2 |
| Unclassified | 0.53% | 1 |
| Specialty Retail | 0.44% | 1 |
| Health Care Equipment & Supplies | 0.34% | 1 |
| Software & IT Services | 0.34% | 1 |
| Software | 0.25% | 1 |
| Utilities | 0.03% | 1 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | AEM | AGNICO EAGLE MINES LTD | Materials | 12.70% |
| 2 | RY | ROYAL BANK OF CANADA | Financials | 10.83% |
| 3 | ENB | ENBRIDGE INC | Energy | 8.40% |
| 4 | CNQ | CANADIAN NATURAL RESOURCES LTD | Energy | 6.75% |
| 5 | MFC | MANULIFE FINANCIAL CORP | Financials | 6.60% |
| 6 | CP | CANADIAN PACIFIC KANSAS CITY LTD/CN | Industrials | 5.96% |
| 7 | CM | CANADIAN IMPERIAL BANK OF COMMERCE /CAN/ | Financials | 5.65% |
| 8 | NTR | NUTRIEN LTD | Materials | 5.49% |
| 9 | GIB | CGI INC CLASS A | Industrials | 4.61% |
| 10 | TU | TELUS | Communication Services | 4.13% |
38/38 names classified · sector 100.0% of weight · industry 99.5% · mkt cap 30.5%; 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: 100.0% of the book is sector-classified (unclassified names shown, never dropped).
Only 11% of book weight classified — the grid is NOT representative of the whole book.
Classified: 10.9% of book weight (16/38 names) · unclassified 89.1%: AEM, RY, ENB, CNQ, MFC, CP, CM, NTR, GIB, TU +12 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 | AEMAGNICO EAGLE MINES LTD | 226,197 | $38M | 12.7% | TRIM −19% |
| 2 | RYROYAL BK CDA | 220,458 | $32M | 10.8% | TRIM −14% |
| 3 | ENBENBRIDGE INC | 499,597 | $25M | 8.4% | TRIM −11% |
| 4 | CNQCANADIAN NAT RES LTD | 633,545 | $20M | 6.8% | TRIM −6% |
| 5 | MFCMANULIFE FINL CORP | 635,318 | $20M | 6.6% | TRIM −11% |
| 6 | CPCANADIAN PACIFIC KANSAS CITY | 240,014 | $18M | 6.0% | TRIM −10% |
| 7 | CMCANADIAN IMPERIAL BANK OF CO | 212,022 | $17M | 5.6% | TRIM −26% |
| 8 | NTRNUTRIEN LTD | 280,633 | $16M | 5.5% | TRIM −10% |
| 9 | GIBCGI INC | 155,232 | $14M | 4.6% | TRIM −10% |
| 10 | TUTELUS CORPORATION | 786,678 | $12M | 4.1% | TRIM −13% |
| 11 | QSRRESTAURANT BRANDS INTL INC | 188,137 | $12M | 4.0% | TRIM −10% |
| 12 | ATSATS CORPORATION | 447,446 | $12M | 3.9% | TRIM −8% |
| 13 | HBMHUDBAY MINERALS INC | 687,008 | $10M | 3.5% | TRIM −40% |
| 14 | GILGILDAN ACTIVEWEAR INC | 172,773 | $10M | 3.3% | TRIM −37% |
| 15 | WFGWEST FRASER TIMBER CO LTD | 135,552 | $9M | 3.1% | TRIM −10% |
| 16 | OSKOSHKOSH CORP | 37,227 | $5M | 1.6% | HOLD |
| 17 | EQXEQUINOX GOLD CORP | 417,019 | $5M | 1.6% | TRIM −21% |
| 18 | CCJCAMECO CORP | 49,899 | $4M | 1.4% | TRIM −70% |
| 19 | HSICHENRY SCHEIN INC | 41,476 | $3M | 0.9% | HOLD |
| 20 | GBXGREENBRIER COS INC | 47,799 | $2M | 0.7% | TRIM −16% |
| 21 | BRK.BBERKSHIRE HATHAWAY INC DEL | 3,155 | $2M | 0.5% | HOLD |
| 22 | AZOAUTOZONE INC | 310 | $1M | 0.4% | ADD 55% |
| 23 | JPMJPMORGAN CHASE & CO | 3,760 | $1M | 0.4% | HOLD |
| 24 | TMOTHERMO FISHER SCIENTIFIC INC | 2,432 | $1M | 0.4% | HOLD |
| 25 | INGING GROEP N.V. | 44,883 | $1M | 0.4% | TRIM −11% |
| 26 | CLCOLGATE PALMOLIVE CO | 14,631 | $1M | 0.4% | HOLD |
| 27 | CBCHUBB LIMITED | 3,897 | $1M | 0.4% | HOLD |
| 28 | ZBHZIMMER BIOMET HOLDINGS INC | 10,484 | $1M | 0.3% | HOLD |
| 29 | GOOGLALPHABET INC | 4,200 | $1M | 0.3% | HOLD |
| 30 | AAPLAPPLE INC | 3,961 | $1M | 0.3% | TRIM −29% |
| 31 | MSFTMICROSOFT CORP | 1,449 | $750,510 | 0.3% | TRIM −20% |
| 32 | ASMLASML HOLDING N V | 700 | $677,663 | 0.2% | HOLD |
| 33 | WABWABTEC | 2,978 | $597,000 | 0.2% | HOLD |
| 34 | DECKDECKERS OUTDOOR CORP | 5,100 | $516,987 | 0.2% | TRIM −16% |
| 35 | CNICANADIAN NATL RY CO | 2,200 | $207,509 | 0.1% | HOLD |
| 36 | TRPTC ENERGY CORP | 1,816 | $98,761 | 0.0% | HOLD |
| 37 | NKENIKE INC | 400 | $27,892 | 0.0% | HOLD |
| 38 | SOBOSOUTH BOW CORP | 363 | $10,274 | 0.0% | HOLD |
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