Sector breakdown

04
Technology 20.3%
Industrials 13.0%
Financials 11.5%
Energy 10.0%
Materials 9.0%
Communication Services 8.7%
Healthcare 5.1%
Retail 5.0%
Real Estate 4.0%
Consumer Discretionary 2.8%
Utilities 0.4%
Consumer Staples 0.0%
Consumer products 0.0%
Other/Unmapped 10.1%

Full portfolio 209 positions

05
Type Streak 8Q trend
CNI Canadian National Railway Company Common Stock $26,884,788 4.93% 225,172 $-3,107,360 Down ×4
SHOP Shopify Inc. - Class A Subordinate Voting Shares $17,889,251 3.28% 120,336 $342,105 Down ×1
MSFT Microsoft Corporation - Common Stock $17,227,766 3.16% 41,557 $4,795,203 Up ×1
TSM Taiwan Semiconductor Manufacturing Company Ltd. $15,235,666 2.79% 38,457 $2,624,709 Up ×1
CVE Cenovus Energy Inc Common Stock $14,849,243 2.72% 476,223 $2,681,378 Down ×1
SU Suncor Energy Inc. Common Stock $14,733,254 2.70% 216,617 $1,948,950 Down ×1
IVV iShares Core S&P 500 ETF $12,958,182 2.38% 16,920 $39,829 Down ×2
GOOG Alphabet Inc. - Class C Capital Stock $12,735,597 2.34% 44,870 $-570,665 Down ×2
BN Brookfield Corporation Class A Limited Voting Shares $11,378,029 2.09% 310,924 $-100,880 Up ×4
AMZN Amazon.com, Inc. - Common Stock $10,387,280 1.90% 52,214 $878,885 Up ×4
VOO Vanguard S&P 500 ETF $10,104,600 1.85% 14,417 $249,955 Up ×6
AVGO Broadcom Inc. - Common Stock $9,879,994 1.81% 34,311 $874,359 Up ×1
WPM Wheaton Precious Metals Corp Common Shares (Canada) $9,726,199 1.78% 72,610 $2,402,740 Up ×1
IEFA iShares Core MSCI EAFE ETF $9,628,780 1.77% 99,389 $114,614 Up ×6
META Meta Platforms, Inc. - Class A Common Stock $9,432,089 1.73% 16,126 $1,688,557 Down ×1
CRM Salesforce, Inc. Common Stock $9,051,150 1.66% 48,717 $607,455 Down ×1
GIL Gildan Activewear, Inc. Class A Sub. Vot. Common Stock $8,847,929 1.62% 207,050 $947,367 Up ×1
CIGI Colliers International Group Inc. - Subordinate Voting Shares $8,525,017 1.56% 94,813 $383,018 Up ×4
BGSI Boyd Group Services Inc. Common Shares $7,967,088 1.46% 101,197 $1,534,399 Up ×3
TECK Teck Resources Ltd Ordinary Shares $7,769,281 1.42% 117,642 $-6,921,425 Down ×1
TMUS T-Mobile US, Inc. - Common Stock $7,641,093 1.40% 60,189 $280,966 Up ×4
NTR Nutrien Ltd. Common Shares $7,602,498 1.39% 107,929 $-152,151 Down ×1
OR OR Royalties Inc. Common Shares $7,309,165 1.34% 212,505 $1,953,877 Up ×1
STN Stantec Inc Common Stock $7,197,191 1.32% 106,435 $227,120 Up ×4
Unknown issuer (CUSIP: 884903881) $6,926,309 1.27% 70,964 $-364,410 Down ×1
BB BlackBerry Limited Common Stock $6,896,930 1.26% 762,100 $-1,666,092 Up ×1
OTIS Otis Worldwide Corporation Common Stock $6,739,184 1.24% 133,325 $928,242 Up ×5
LSPD Lightspeed Commerce Inc. Subordinate Voting Shares $6,624,387 1.21% 676,164 $584,272 Up ×1
BSX Boston Scientific Corporation Common Stock $6,575,718 1.21% 194,330 $625,629 Up ×4
MEOH Methanex Corporation - Common Stock $6,232,169 1.14% 105,920 $1,215,421 Down ×1
BDX Becton, Dickinson and Company Common Stock $6,228,673 1.14% 44,940 $589,314 Down ×1
CNQ Canadian Natural Resources Limited Common Stock $6,115,028 1.12% 129,628 $-861,466 Down ×1
BRK-A (filed as BRKA) Berkshire Hathaway Inc. Class A $5,976,040 1.10% 8 $-14,760
RCI Rogers Communication, Inc. Common Stock $5,530,839 1.01% 179,077 $1,247,385 Up ×2
PBA Pembina Pipeline Corp. Ordinary Shares (Canada) $5,517,859 1.01% 123,229 $-1,015,372 Down ×1
J Jacobs Solutions Inc. Common Stock $5,431,234 1.00% 49,198 $1,958 Down ×1
DIS Walt Disney Company (The) Common Stock $5,423,729 0.99% 65,156 $908,694 Up ×1
BNS Bank Nova Scotia Halifax Pfd 3 Ordinary Shares $5,299,535 0.97% 58,102 $-139,960 Down ×2
CSGP CoStar Group, Inc. - Common Stock $5,211,934 0.96% 244,425 $-285,775 Down ×1
COP ConocoPhillips Common Stock $4,921,741 0.90% 51,146 $876,133 Up ×2
TOST Toast, Inc. Class A Common Stock $4,913,968 0.90% 220,811 Up ×1
WTW Willis Towers Watson Public Limited Company - Ordinary Shares $4,779,646 0.88% 21,429 $-231,483 Down ×1
RY Royal Bank Of Canada Common Stock $4,779,579 0.88% 24,224 $-532,908 Down ×3
URI United Rentals, Inc. Common Stock $4,742,546 0.87% 5,795 $1,107,725 Up ×1
DSGX The Descartes Systems Group Inc. - Common Stock $4,715,392 0.86% 58,115 $-1,037,112 Down ×1
VWO Vanguard FTSE Emerging Markets ETF $4,582,358 0.84% 77,261 $-30,254 Down ×1
ABT Abbott Laboratories Common Stock $4,545,650 0.83% 58,775 $-169,245 Down ×1
FNV Franco-Nevada Corporation $4,509,612 0.83% 18,885 $-980,608 Down ×2
FSV FirstService Corporation - Common Shares $4,276,182 0.78% 33,297 $-192,916 Up ×3
GFR Greenfire Resources Ltd. Common Shares $4,120,756 0.76% 730,816 $384,599 Up ×2
TD Toronto Dominion Bank (The) Common Stock $4,101,755 0.75% 34,779 $-482,042 Down ×6
CBRE CBRE Group Inc Common Stock Class A $4,023,066 0.74% 38,535 $-200,614 Down ×1
CTSH Cognizant Technology Solutions Corporation - Class A Common Stock $3,906,165 0.72% 85,728 $-237,780 Down ×1
Unknown issuer (CUSIP: 866966104) $3,896,482 0.71% 52,798 $1,949,634 Up ×1
QSR Restaurant Brands International Inc. Common Shares $3,862,293 0.71% 54,111 $-1,344,913 Down ×1
ASML ASML Holding N.V. - New York Registry Shares $3,804,507 0.70% 2,100 $3,605,563 Up ×1
NFLX Netflix, Inc. - Common Stock $3,802,040 0.70% 68,089 $789,359 Up ×5
SAP SAP SE ADS $3,727,622 0.68% 17,880 $386,517 Down ×1
DLTR Dollar Tree, Inc. - Common Stock $3,614,746 0.66% 40,087 $-376,694 Down ×2
A Agilent Technologies, Inc. Common Stock $3,582,765 0.66% 24,794 $-380,955 Down ×2
V Visa Inc. $3,560,971 0.65% 12,961 $196,373 Up ×4
KKR KKR & Co. Inc. Common Stock $3,406,977 0.62% 47,706 $11,495 Up ×1
MRSH Marsh Common Stock $3,310,815 0.61% 25,742
ALLE Allegion plc Ordinary Shares $3,273,751 0.60% 26,416 $42,321 Down ×1
DG Dollar General Corporation Common Stock $3,225,116 0.59% 35,638 $155,786 Up ×2
GIB CGI Inc. Common Stock $3,216,794 0.59% 47,173 $-467,101 Down ×2
ELE Elemental Royalty Corporation - Common Stock $2,973,995 0.55% 154,504 $-682,437 Down ×1
MTA CUSIP: 59124U605 $2,920,955 0.54% 308,352 $222,756 Down ×2
BK The Bank of New York Mellon Corporation Common Stock $2,917,121 0.53% 26,742 $-329,259 Down ×2
ULTA Ulta Beauty, Inc. - Common Stock $2,859,392 0.52% 6,806 $524,422 Up ×2
DHR Danaher Corporation Common Stock $2,800,834 0.51% 16,701 $-310,580 Down ×1
TTEK Tetra Tech, Inc. - Common Stock $2,659,626 0.49% 98,867 $-701,022 Down ×1
DCBO Docebo Inc. - Common Shares $2,460,601 0.45% 106,048 $-396,639 Down ×1
ENTG Entegris, Inc. - Common Stock $2,406,072 0.44% 20,397 $975,570 Up ×1
ATS ATS Corporation Common Shares $2,344,167 0.43% 129,312 $-852,125 Up ×2
UNP Union Pacific Corporation Common Stock $2,315,235 0.42% 9,587 $11,984 Up ×1
JNJ Johnson & Johnson Common Stock $2,251,245 0.41% 9,300 $-81,892 Down ×5
GOOGL Alphabet Inc. - Class A Common Stock $2,167,704 0.40% 6,300 $-89,088 Down ×2
MCD McDonald's Corporation Common Stock $2,093,306 0.38% 10,686 $-337,400 Up ×4
COST Costco Wholesale Corporation - Common Stock $2,002,748 0.37% 2,200 $-55,286
WFC Wells Fargo & Company Common Stock $1,949,416 0.36% 32,348 $-39,475 Up ×4
WMT Walmart Inc. - Common Stock $1,714,680 0.31% 16,500 $-210,740 Down ×1
RSP Invesco Exchange-Traded Fund Trust $1,487,668 0.27% 9,678 $1,446,547 Up ×1
SHEL Shell PLC American Depositary Shares (each representing two (2) Ordinary Shares) $1,377,274 0.25% 14,490 $253,719
TJX TJX Companies, Inc. (The) Common Stock $1,316,220 0.24% 9,948 $-325,889 Down ×1
ACN Accenture plc Class A Ordinary Shares (Ireland) $1,253,952 0.23% 8,747 $339,527 Down ×4
IGF iShares Global Infrastructure ETF $1,211,255 0.22% 19,676 $-93,039 Up ×6
MUFG Mitsubishi UFJ Financial Group, Inc. Common Stock $1,200,378 0.22% 52,032 $165,462
BMO Bank Of Montreal Common Stock $1,194,546 0.22% 7,122 $-291,128 Down ×1
SMFG Sumitomo Mitsui Financial Group Inc Unsponsored American Depositary Shares (Japan) $1,156,933 0.21% 44,652 $104,039
HD Home Depot, Inc. (The) Common Stock $1,081,062 0.20% 3,800 $-329,658 Down ×1
BHP BHP Group Limited American Depositary Shares (Each representing two Ordinary Shares) $1,075,771 0.20% 12,680 $19,400
FTS Fortis Inc. Common Shares $1,052,846 0.19% 19,872 $-340,640 Down ×1
RIO Rio Tinto Plc Common Stock $1,043,404 0.19% 11,080 $-8,420
NVDA NVIDIA Corporation - Common Stock $976,324 0.18% 4,275 $120,939
ROST Ross Stores, Inc. - Common Stock $839,109 0.15% 4,076 $-53,664 Down ×5
CP Canadian Pacific Kansas City Limited Common Shares $755,663 0.14% 8,846 $-1,040,193 Down ×3
AAPL Apple Inc. - Common Stock $731,722 0.13% 2,640 $96,405
ENB Enbridge Inc Common Stock $724,815 0.13% 15,546 $-291,793 Down ×1
AMGN Amgen Inc. - Common Stock $716,567 0.13% 1,700 $100,963

Conviction holdings

08

Positions increased for 3+ consecutive quarters.

Share counts are as reported in 13F filings (not split-adjusted)

SecurityValue% of portfolioStreak
BN $11,378,029 2.09% up ×4
AMZN $10,387,280 1.90% up ×4
VOO $10,104,600 1.85% up ×6
IEFA $9,628,780 1.77% up ×6
CIGI $8,525,017 1.56% up ×4
BGSI $7,967,088 1.46% up ×3
TMUS $7,641,093 1.40% up ×4
STN $7,197,191 1.32% up ×4
OTIS $6,739,184 1.24% up ×5
BSX $6,575,718 1.21% up ×4
FSV $4,276,182 0.78% up ×3
NFLX $3,802,040 0.70% up ×5
V $3,560,971 0.65% up ×4
MCD $2,093,306 0.38% up ×4
WFC $1,949,416 0.36% up ×4

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
TOST $4,913,968 220,811 0.90%
MRSH $3,310,815 25,742 0.61%
MGA $185,946 2,910 0.03%
ITW $50,170 195 0.01%
BMY $24,024 385 0.00%
AVY $23,894 140 0.00%
KO $23,242 270 0.00%
CI $20,659 76 0.00%
Unknown issuer (CUSIP: 43849R105) $15,652 101 0.00%
GEV $10,455 11 0.00%
Unknown issuer (CUSIP: 81517B101) $3,429 235 0.00%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
TECK Trimmed -129K -$6.9M
MSFT Bought more +230 +$4.8M
CNI Trimmed -27K -$3.1M
CVE Trimmed -15K +$2.7M
TSM Bought more +8K +$2.6M
WPM Bought more +7K +$2.4M
OR Bought more +43K +$2.0M
· Bought more +26K +$1.9M
SU Trimmed -21K +$1.9M
META Trimmed -1K +$1.7M

2 positions hidden — reported move looks larger than the position itself (data completeness check)

Exited positions

11

Includes corporate events (mergers, delistings) — not all exits are sells

Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.

SecurityQuarterShares beforeValue beforePrice since exit
SSRM June 30, 2026 225,400 $6,607,249 2.8%
TRI June 30, 2026 72,832 $6,560,576 42.3%
UUUU June 30, 2026 339,500 $6,213,247 No longer tracked
KGC June 30, 2026 196,100 $5,983,308 -3.5%
IAG June 30, 2026 318,300 $5,973,691 6.1%
OR (filed as ORXXXX) June 30, 2025 279,555 $5,905,735 31.9%
CDE June 30, 2026 292,481 $5,489,868 -14.3%
EQX June 30, 2026 375,900 $5,417,771 No longer tracked
HBM Sept. 30, 2026 220,100 $5,187,297 -13.8%
AG Sept. 30, 2026 304,700 $5,163,389 -12.2%
NGD March 31, 2026 563,400 $4,916,288 No longer tracked
SAND Dec. 31, 2025 338,282 $4,233,081 No longer tracked
CLS March 31, 2026 14,100 $4,176,814 -3.3%
IAG Sept. 30, 2025 454,200 $3,339,167 29.9%
AGI June 30, 2025 120,500 $3,222,889 16.9%
FNV Sept. 30, 2025 18,500 $3,031,624 6.0%
ORLA Sept. 30, 2025 294,900 $2,956,998 No longer tracked
CAE June 30, 2025 112,500 $2,768,677 -13.4%
TAC June 30, 2025 267,100 $2,495,237 18.0%
MRSH Dec. 31, 2025 14,794 $2,171,028 2.3%
ORCL March 31, 2026 10,225 $1,992,955 -10.5%
TM June 30, 2025 2,140 $377,774 14.2%
IMO June 30, 2026 2,580 $337,256 No longer tracked
AFL Dec. 31, 2025 2,250 $251,325 10.1%
WDC June 30, 2026 925 $250,203 -40.0%
LDOS June 30, 2025 1,575 $212,531 -11.9%
TAP June 30, 2026 3,690 $158,891 1.3%
IBM Sept. 30, 2025 518 $152,696 -11.4%
QGEN (filed as QGENXXXX) Sept. 30, 2025 3,131 $150,408 12.6%
LDOS June 30, 2026 955 $148,522 35.0%
HPQ March 31, 2026 6,450 $143,706 76.3%
GRTUF March 31, 2026 2,400 $143,079 No longer tracked
CHKP June 30, 2025 611 $139,259 -28.0%
CBOE Sept. 30, 2026 461 $111,871 19.3%
MRK Dec. 31, 2025 1,034 $86,784 34.9%
COR Sept. 30, 2026 263 $74,424 9.2%
GOLD June 30, 2025 1,825 $35,469 77.5%
ADP June 30, 2025 106 $32,386 -6.2%
CHKP Dec. 31, 2025 138 $28,554 -14.1%
RPRX June 30, 2025 905 $28,173 80.7%
RPRX Sept. 30, 2026 502 $28,147 11.5%
GD Dec. 31, 2025 80 $27,280 5.8%
KO June 30, 2026 332 $25,249 13.2%
JNPR Sept. 30, 2025 632 $25,236 No longer tracked
DGX Sept. 30, 2026 117 $24,798 3.2%
DGX Sept. 30, 2025 136 $24,430 26.2%
GD Sept. 30, 2026 68 $24,088 7.4%
L Sept. 30, 2026 210 $23,774 5.9%
ECL June 30, 2026 86 $22,878 5.2%
ITW June 30, 2025 91 $22,569 11.5%
GIS June 30, 2025 362 $21,644 -35.5%
NEE March 31, 2026 240 $19,267 -11.5%
AZO Sept. 30, 2026 6 $19,176 11.2%
KMB March 31, 2026 170 $17,151 12.7%
LAC Dec. 31, 2025 2,690 $15,362 -50.7%
CRCL June 30, 2026 81 $7,728 27.3%
HIVE Dec. 31, 2025 1,673 $6,742 -21.5%
PLTR Dec. 31, 2025 35 $6,385 12.2%
RIOT March 31, 2026 430 $5,448 8.4%
SNDL March 31, 2026 2,900 $4,814 -3.0%
SLV Dec. 31, 2025 100 $4,237 -23.9%
TEM Sept. 30, 2026 70 $4,055 -12.1%
COIN June 30, 2026 23 $4,016 9.5%
ACHR June 30, 2026 745 $3,852 -10.4%
TWST March 31, 2026 95 $3,013 237.4%
CRL March 31, 2026 10 $1,995 106.7%
HOOD June 30, 2026 28 $1,940 -3.8%
MRNA March 31, 2026 62 $1,828 289.5%
XRAY March 31, 2026 100 $1,143 -19.5%
DFTX June 30, 2026 52 $983 -20.9%
MNMD Dec. 31, 2025 52 $613 No longer tracked
PYPL Sept. 30, 2026 5 $216 6.2%
ZIMV Dec. 31, 2025 7 $133 No longer tracked