Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+4.29%
adds when stocks drop
when a holding falls −10%+
Middle response
-3.01%
baseline attrition
Rally response
-6.78%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| RYRoyal Bank of Canada | $67M | 7.1% | +48.2% | 10.5 yr |
| TDThe Toronto-Dominion Ban | $65M | 7.0% | +60.9% | 10.5 yr |
| TRPTC Energy Corporation | $49M | 5.2% | +37.4% | 5.0 yr |
| BCEBCE Inc. | $47M | 5.0% | +16.0% | 5.0 yr |
| PBAPembina Pipeline Corpora | $45M | 4.8% | +17.8% | 4.8 yr |
| CNICanadian National Railwa | $42M | 4.5% | +8.2% | 10.5 yr |
| BNSThe Bank of Nova Scotia | $41M | 4.3% | +52.4% | 10.5 yr |
| CNQCanadian Natural Resourc | $35M | 3.7% | +66.0% | 9.5 yr |
| SUSuncor Energy Inc. | $34M | 3.7% | +77.6% | 5.3 yr |
| QSRRestaurant Brands Intern | $34M | 3.6% | +15.1% | 6.3 yr |
| NTRNutrien Ltd. | $33M | 3.6% | +56.2% | 1.0 yr |
| BNBrookfield Corporation | $28M | 3.0% | +16.5% | 3.5 yr |
| CMCanadian Imperial Bank o | $28M | 3.0% | +73.0% | 10.5 yr |
| TUTELUS Corporation | $27M | 2.9% | -2.7% | 5.3 yr |
| GIBCGI Inc. | $26M | 2.7% | -26.4% | 5.3 yr |
Portfolio composition (YoY)
Industry mix
Banks - Diversified24.6%-3.4pp$231M
Oil & Gas Midstream10.0%+0.1pp$94M
Telecommunications Services9.3%-2.0pp$87M
Railroads4.5%-0.5pp$42M
Oil & Gas Integrated4.3%+0.5pp$40M
Oil & Gas Exploration & Production4.3%+3.0pp$40M
Restaurants3.6%+1.5pp$34M
Agricultural Inputs3.6%$33M
Asset Management3.0%-1.2pp$28M
Information Technology Services2.7%+2.2pp$26M
Country
CA71.4%+3.1pp
US19.3%-4.1pp
BM4.5%+0.4pp
Unknown1.8%+0.7pp
GB1.6%+0.1pp
NL0.6%-0.0pp
DE0.5%+0.4pp
FR0.3%-0.4pp
Top 5: 29.2% · Top 10: 49.0% · Top 25: 79.9%
Top buys this quarter · 15
| GIB CGI Inc. | +$22M |
| V Visa Inc.new | +$7M |
| PBA Pembina Pipeline Corporation | +$45M |
| TU TELUS Corporation | +$27M |
| UNH UnitedHealth Group Incorporate | +$3M |
| FSV FirstService Corporation | +$9M |
| MSFT Microsoft Corporation | +$8M |
| TMO Thermo Fisher Scientific Inc. | +$2M |
| CIGI Colliers International Group I | +$6M |
| CNQ Canadian Natural Resources Lim | +$1M |
Top sells this quarter · 15
| MGA Magna International Inc. | −$14M |
| TD The Toronto-Dominion Bank | −$13M |
| BNS The Bank of Nova Scotia | −$6M |
| NTR Nutrien Ltd. | −$6M |
| LEN Lennar Corporationexit | −$6M |
| CM Canadian Imperial Bank of Comm | −$3M |
| GLW Corning Incorporated | −$3M |
| RY Royal Bank of Canada | −$3M |
| BN Brookfield Corporation | −$3M |
| VZ Verizon Communications Inc. | −$3M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $939M | 70 | +31.63% | +17.59% | +14.04% | -0.30B |
| 2025-12-31 | $1.18B | 71 | +24.46% | +17.72% | +6.75% | +0.22B |
| 2025-09-30 | $898M | 69 | +11.76% | +17.52% | -5.76% | -0.07B |
| 2025-06-30 | $905M | 77 | +18.79% | +14.94% | +3.85% | +0.04B |
| 2025-03-31 | $787M | 72 | +4.93% | +8.30% | -3.38% | -0.03B |
| 2024-12-31 | $826M | 73 | +8.95% | +24.89% | -15.93% | -0.05B |
| 2024-09-30 | $917M | 72 | +28.41% | +36.04% | -7.63% | -0.02B |
| 2024-06-30 | $823M | 72 | +6.01% | +24.49% | -18.48% | +0.00B |
| 2024-03-31 | $843M | 73 | +12.01% | +29.62% | -17.62% | -0.01B |
| 2023-12-31 | $824M | 75 | +9.77% | +26.18% | -16.41% | -0.10B |
| 2023-09-30 | $827M | 72 | +6.91% | +21.57% | -14.66% | +0.01B |
| 2023-06-30 | $868M | 74 | +1.60% | +19.42% | -17.82% | -0.01B |
| 2023-03-31 | $858M | 75 | -12.93% | -7.82% | -5.11% | +0.01B |
| 2022-12-31 | $844M | 71 | +9.37% | +7.56% | +1.81% | -0.01B |
| 2022-09-30 | $785M | 68 | -10.42% | -4.93% | -5.49% | -0.03B |
| 2022-06-30 | $914M | 70 | -11.94% | -16.11% | +4.17% | -0.08B |