Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (23 quarters reported)
$716M in Q4 2020 → $3.71B now. Hover for any quarter.
As reported for the quarter ended June 30, 2026. Activity is the change in share count since the prior quarter's filing.
| Holding | % of portfolio | Activity | Shares | Value |
|---|---|---|---|---|
| RB Royal Bk Cda Com | 11.0% | Trimmed 4.6% | 1,977,134 | $409M |
| TE Tc Energy Corp Com | 8.0% | Added 38% | 4,473,642 | $296M |
| TD Toronto Dominion Bk Ont Com New | 7.7% | Trimmed 5.0% | 2,364,122 | $287M |
| CN Canadian Nat Res Ltd Med Ter Com | 6.8% | Added 106% | 6,350,644 | $251M |
| SC Shopify Inc Cl A Sub Vtg Shs | 5.3% | Trimmed 5.1% | 1,725,549 | $197M |
| BM Bank Montreal Medium Com | 4.7% | Trimmed 5.4% | 991,466 | $175M |
| EC Enbridge Inc Com | 4.5% | Trimmed 4.6% | 3,088,830 | $167M |
| BN Bank Nova Scotia B C Com | 4.1% | Trimmed 4.9% | 1,738,562 | $151M |
| CI Canadian Imperial Bank Of Co Com | 4.0% | Trimmed 5.5% | 1,301,918 | $150M |
| BC Brookfield Corp Cl A Ltd Vt Sh | 3.5% | Trimmed 7.6% | 3,022,165 | $129M |
| AE Agnico Eagle Mines Ltd Com | 3.0% | Trimmed 3.2% | 719,467 | $112M |
| CP Canadian Pacific Kansas City Com | 2.9% | Trimmed 5.7% | 1,255,756 | $109M |
| MF Manulife Finl Corp Com | 2.6% | Trimmed 5.1% | 2,360,746 | $95.6M |
| CN Canadian Natl Ry Co Com | 2.5% | Trimmed 5.5% | 765,088 | $91.2M |
| SE Suncor Energy Inc New Com | 2.4% | Trimmed 5.4% | 1,670,236 | $89.7M |
| BM Barrick Mng Corp Com Shs | 2.3% | Trimmed 4.6% | 2,370,106 | $87M |
| WP Wheaton Precious Metals Corp Com | 1.9% | Trimmed 4.6% | 642,347 | $72.1M |
| CC Cameco Corp Com | 1.7% | Trimmed 4.6% | 616,087 | $62.7M |
| SL Sun Life Financial Inc. Com | 1.7% | Trimmed 4.6% | 783,684 | $61.4M |
| WC Waste Connections Inc Com | 1.6% | Trimmed 4.8% | 361,031 | $60.1M |
| CC Celestica Inc Com | 1.6% | Trimmed 4.6% | 162,633 | $59.2M |
| FN Franco Nev Corp Com | 1.5% | Trimmed 4.6% | 272,806 | $56.8M |
| CE Cenovus Energy Inc Com | 1.3% | Trimmed 4.9% | 1,909,564 | $47.3M |
| NC Nutrien Ltd Com | 1.2% | Trimmed 4.8% | 680,109 | $42.8M |
| FC Fortis Inc Com | 1.1% | Trimmed 4.3% | 720,199 | $41.2M |
| KG Kinross Gold Corp Com | 1.1% | Trimmed 5.2% | 1,687,005 | $39.9M |
| PP Pembina Pipeline Corp Com | 1.0% | Trimmed 4.6% | 822,347 | $38M |
| TR Teck Resources Ltd Cl B | 1.0% | Trimmed 4.5% | 634,071 | $37.7M |
| RB Restaurant Brands Intl Inc Com | 1.0% | Trimmed 4.4% | 491,312 | $35.6M |
| BC Bce Inc Com New | 0.8% | Trimmed 4.6% | 1,319,114 | $28.4M |
| BA Brookfield Asset Managmt Ltd Cl A Lmt Vtg Shs | 0.6% | Trimmed 4.6% | 532,989 | $23.9M |
| IO Imperial Oil Ltd Com New | 0.6% | Trimmed 4.6% | 212,062 | $23.8M |
| MI Magna Intl Inc Com | 0.6% | Trimmed 6.9% | 361,974 | $23.8M |
| BI Brookfield Infrastructure Pa LP Int Unit | 0.6% | Trimmed 5.2% | 647,312 | $23.6M |
| TC Telus Corporation Com | 0.6% | Added 2.9% | 2,208,650 | $23.3M |
| EC Emera Inc Com | 0.6% | Trimmed 3.3% | 432,773 | $22.9M |
| RC Rogers Communications Inc Cl B | 0.5% | Trimmed 4.6% | 546,260 | $17.7M |
| CC Cgi Inc Cl A Sub Vtg | 0.5% | Trimmed 6.3% | 264,997 | $17.1M |
| TR Thomson Reuters Corp Com | 0.4% | New | 185,253 | $15.1M |
| GA Gildan Activewear Inc Com | 0.4% | Trimmed 4.6% | 261,950 | $13.5M |
| CC Cae Inc Com | 0.3% | Trimmed 4.7% | 454,829 | $11.4M |
| FN Firstservice Corp New Com | 0.2% | Trimmed 4.1% | 58,540 | $8.31M |
| OT Open Text Corp Com | 0.2% | Trimmed 7.8% | 342,649 | $7.57M |
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended June 30, 2026 · filed August 12, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| CN Canadian Nat Res Ltd Med Ter Com | Added | +3,262,880 | +$129M | 6.8% |
| TE Tc Energy Corp Com | Added | +1,230,120 | +$81.3M | 8.0% |
| RB Royal Bk Cda Com | Trimmed | −96,086 | −$19.9M | 11.0% |
| TR Thomson Reuters Corp Com | Exited | −198,031 | −$17.8M | — |
| TD Toronto Dominion Bk Ont Com New | Trimmed | −125,391 | −$15.2M | 7.7% |
| TR Thomson Reuters Corp Com | New | +185,253 | +$15.1M | 0.4% |
| SC Shopify Inc Cl A Sub Vtg Shs | Trimmed | −93,039 | −$10.6M | 5.3% |
| BC Brookfield Corp Cl A Ltd Vt Sh | Trimmed | −247,113 | −$10.5M | 3.5% |
| BM Bank Montreal Medium Com | Trimmed | −56,101 | −$9.9M | 4.7% |
| CI Canadian Imperial Bank Of Co Com | Trimmed | −75,729 | −$8.71M | 4.0% |
Showing the 10 largest of 44 changes.
quarter ended March 31, 2026 · filed May 11, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| TE Tc Energy Corp Com | Trimmed | −2,180,914 | −$136M | 5.8% |
| RB Royal Bk Cda Com | Trimmed | −64,000 | −$10.3M | 9.6% |
| TD Toronto Dominion Bk Ont Com New | Trimmed | −93,544 | −$8.72M | 6.7% |
| SC Shopify Inc Cl A Sub Vtg Shs | Trimmed | −43,412 | −$5.14M | 6.2% |
| BM Bank Montreal Medium Com | Trimmed | −35,976 | −$4.86M | 4.1% |
| EC Enbridge Inc Com | Trimmed | −84,640 | −$4.58M | 5.0% |
| AE Agnico Eagle Mines Ltd Com | Trimmed | −22,005 | −$4.46M | 4.3% |
| SE Suncor Energy Inc New Com | Trimmed | −64,031 | −$4.23M | 3.4% |
| CN Canadian Nat Res Ltd Med Ter Com | Trimmed | −84,191 | −$4.1M | 4.3% |
| BN Bank Nova Scotia B C Com | Trimmed | −53,822 | −$3.73M | 3.6% |
Showing the 10 largest of 43 changes.
quarter ended December 31, 2025 · filed February 13, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| CC Celestica Inc Com | New | +175,158 | +$52.3M | 1.5% |
| BC Brookfield Corp Cl A Ltd Vt Sh | Added | +908,339 | +$41.7M | 4.2% |
| TE Tc Energy Corp Com | Added | +753,588 | +$41.5M | 8.3% |
| RB Royal Bk Cda Com | Trimmed | −189,003 | −$32.2M | 10.1% |
| SC Shopify Inc Cl A Sub Vtg Shs | Trimmed | −157,572 | −$25.4M | 8.3% |
| TD Toronto Dominion Bk Ont Com New | Trimmed | −255,110 | −$24M | 6.8% |
| EC Enbridge Inc Com | Trimmed | −287,272 | −$13.7M | 4.4% |
| BM Bank Montreal Que Com | Trimmed | −101,847 | −$13.2M | 3.9% |
| BN Bank Nova Scotia Halifax Com | Trimmed | −173,517 | −$12.8M | 3.9% |
| AE Agnico Eagle Mines Ltd Com | Trimmed | −66,843 | −$11.3M | 3.6% |
Showing the 10 largest of 44 changes.
quarter ended September 30, 2025 · filed November 12, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| RB Royal Bk Cda Com | Trimmed | −71,572 | −$10.5M | 9.6% |
| SC Shopify Inc Cl A Sub Vtg Shs | Trimmed | −45,554 | −$6.77M | 8.4% |
| TD Toronto Dominion Bk Ont Com New | Trimmed | −81,907 | −$6.55M | 6.3% |
| BM Bank Montreal Que Com | Trimmed | −42,089 | −$5.48M | 4.3% |
| TE Tc Energy Corp Com | Trimmed | −91,602 | −$4.98M | 7.1% |
| CP Canadian Pacific Kansas City Com | Trimmed | −65,219 | −$4.86M | 3.1% |
| CI Canadian Imperial Bank Of Co Com | Trimmed | −55,744 | −$4.45M | 3.4% |
| EC Enbridge Inc Com | Trimmed | −87,575 | −$4.42M | 5.1% |
| BN Bank Nova Scotia Halifax Com | Trimmed | −55,602 | −$3.59M | 3.7% |
| AE Agnico Eagle Mines Ltd Com | Trimmed | −21,145 | −$3.56M | 3.9% |
Showing the 10 largest of 43 changes.
quarter ended June 30, 2025 · filed August 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| TE Tc Energy Corp Com | Trimmed | −3,147,914 | −$153M | 7.1% |
| BM Barrick Mng Corp Com Shs Added | New | +2,914,954 | +$60.6M | 1.8% |
| BG Barrick Gold Corp Com | Exited | −2,635,064 | −$51.1M | — |
| TD Toronto Dominion Bk Ont Com New | Trimmed | −600,652 | −$44.1M | 6.5% |
| RB Royal Bk Cda Com | Added | +239,891 | +$31.6M | 9.6% |
| SC Shopify Inc Cl A Sub Vtg Shs | Added | +210,583 | +$24.3M | 7.2% |
| EC Emera Inc Com Added | New | +504,753 | +$23.1M | 0.7% |
| EC Enbridge Inc Com | Added | +371,164 | +$16.8M | 5.1% |
| BC Brookfield Corp Cl A Ltd Vt Sh | Added | +243,193 | +$15M | 4.6% |
| BM Bank Montreal Que Com | Added | +115,447 | +$12.8M | 4.1% |
Showing the 10 largest of 44 changes.
quarter ended March 31, 2025 · filed May 09, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| TE Tc Energy Corp Com | Added | +1,725,532 | +$81.5M | 13.0% |
| TD Toronto Dominion Bk Ont Com New | Added | +851,005 | +$51M | 7.4% |
| CI Canadian Imperial Bk Comm Com | Trimmed | −904,598 | −$50.9M | 2.8% |
| BN Bank Nova Scotia Halifax Com | Added | +250,028 | +$11.9M | 3.6% |
| MF Manulife Finl Corp Com | Trimmed | −45,939 | −$1.43M | 2.9% |
| SE Suncor Energy Inc New Com | Trimmed | −20,746 | −$803K | 2.6% |
| BG Barrick Gold Corp Com | Trimmed | −34,263 | −$665K | 1.8% |
| IO Imperial Oil Ltd Com New | Trimmed | −7,005 | −$506K | 0.6% |
| CN Canadian Nat Res Ltd Com | Trimmed | −15,678 | −$482K | 3.4% |
| TC Telus Corporation Com | Added | +27,671 | +$397K | 1.1% |
Showing the 10 largest of 42 changes.
quarter ended December 31, 2024 · filed February 12, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| TD Toronto Dominion Bk Ont Com New | Trimmed | −6,730,465 | −$358M | 5.1% |
| TE Tc Energy Corp Com | Added | +5,264,079 | +$245M | 10.4% |
| RB Royal Bk Cda Com | Added | +904,909 | +$109M | 9.4% |
| SC Shopify Inc Cl A | Added | +777,696 | +$82.7M | 7.1% |
| CI Canadian Imperial Bk Comm Com | Trimmed | −1,294,584 | −$81.8M | 5.3% |
| EC Enbridge Inc Com | Added | +1,393,449 | +$59.1M | 5.1% |
| BC Brookfield Corp Cl A Ltd Vt Sh | Added | +912,034 | +$52.4M | 4.5% |
| BM Bank Montreal Que Com | Added | +466,755 | +$45.3M | 3.9% |
| CP Canadian Pacific Kansas City Com | Added | +597,144 | +$43.2M | 3.7% |
| CN Canadian Nat Res Ltd Com | Added | +1,334,101 | +$41.2M | 3.6% |
Showing the 10 largest of 42 changes.
quarter ended September 30, 2024 · filed November 12, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| TD Toronto Dominion Bk Ont Com New | Added | +8,462,192 | +$536M | 26.6% |
| TE Tc Energy Corp Com | Trimmed | −8,548,390 | −$407M | 2.0% |
| CI Canadian Imperial Bk Comm Com | Trimmed | −2,509,429 | −$154M | 10.0% |
| RB Royal Bk Cda Com | Added | +507,123 | +$63.4M | 7.0% |
| PP Pembina Pipeline Corp Com | Added | +1,258,127 | +$51.9M | 2.9% |
| NC Nutrien Ltd Com | Trimmed | −922,673 | −$44.4M | 0.9% |
| SC Shopify Inc Cl A | Added | +434,200 | +$34.8M | 3.9% |
| EC Enbridge Inc Com | Added | +807,239 | +$32.8M | 3.5% |
| CP Canadian Pacific Kansas City Com | Added | +334,389 | +$28.6M | 3.2% |
| BC Brookfield Corp Cl A Ltd Vt Sh | Added | +521,712 | +$27.7M | 3.0% |
Showing the 10 largest of 42 changes.
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