Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+3.85%
adds when stocks drop
when a holding falls −10%+
Middle response
+1.86%
steady accumulation
Rally response
-9.43%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| RCIRogers Communications In | $250M | 4.0% | +50.2% | 10.3 yr |
| BNSThe Bank of Nova Scotia | $243M | 3.9% | +52.4% | 10.3 yr |
| GOOGAlphabet Inc. | $239M | 3.9% | +84.3% | 10.3 yr |
| TDThe Toronto-Dominion Ban | $234M | 3.8% | +60.9% | 10.3 yr |
| RYRoyal Bank of Canada | $229M | 3.7% | +48.2% | 10.3 yr |
| MGAMagna International Inc. | $220M | 3.5% | +71.2% | 10.3 yr |
| BMOBank of Montreal | $213M | 3.4% | +47.5% | 10.3 yr |
| NTRNutrien Ltd. | $207M | 3.3% | +56.2% | 8.0 yr |
| MFCManulife Financial Corpo | $207M | 3.3% | +15.0% | 10.3 yr |
| SLFSun Life Financial Inc. | $204M | 3.3% | +14.0% | 10.3 yr |
| BCEBCE Inc. | $190M | 3.1% | +16.0% | 10.3 yr |
| OTEXOpen Text Corporation | $173M | 2.8% | -8.7% | 8.0 yr |
| BBarrick Mining Corporati | $158M | 2.6% | +114.9% | 1.0 yr |
| CVECenovus Energy Inc. | $151M | 2.4% | +97.2% | 10.3 yr |
| CMCanadian Imperial Bank o | $148M | 2.4% | +73.0% | 10.3 yr |
Portfolio composition (YoY)
Industry mix
Banks - Diversified20.4%-1.5pp$1.27B
Telecommunications Services13.0%-0.4pp$806M
Internet Content & Information5.7%+0.6pp$354M
Software - Application5.5%+1.3pp$340M
Drug Manufacturers - General5.4%-1.4pp$336M
Oil & Gas Integrated4.8%+0.4pp$297M
Auto - Parts4.1%+1.2pp$252M
Agricultural Inputs3.3%+0.2pp$207M
Insurance - Life3.3%-0.8pp$207M
Insurance - Diversified3.3%-0.1pp$204M
Country
CA55.5%+2.0pp
US36.3%-2.2pp
BR2.7%+0.7pp
FR1.6%
GB1.5%-0.9pp
MX0.7%+0.3pp
IE0.5%
PE0.5%+0.1pp
Top 5: 19.3% · Top 10: 36.2% · Top 25: 66.2%
Top buys this quarter · 15
| CRM Salesforce, Inc. | +$66M |
| MSFT Microsoft Corporation | +$63M |
| OTEX Open Text Corporation | +$173M |
| ADBE Adobe Inc. | +$38M |
| CNI Canadian National Railway Comp | +$29M |
| WFG West Fraser Timber Co. Ltd. | +$16M |
| SWKS Skyworks Solutions, Inc. | +$13M |
| TU TELUS Corporation | +$9M |
| ELPC Companhia Paranaense de Energi | +$8M |
| PFE Pfizer Inc. | +$6M |
Top sells this quarter · 15
| SU Suncor Energy Inc. | −$92M |
| INTC Intel Corporation | −$43M |
| B Barrick Mining Corporation | −$29M |
| CM Canadian Imperial Bank of Comm | −$23M |
| TD The Toronto-Dominion Bank | −$21M |
| C Citigroup Inc. | −$20M |
| STT State Street Corporation | −$16M |
| BNS The Bank of Nova Scotia | −$15M |
| BMO Bank of Montreal | −$13M |
| NTR Nutrien Ltd. | −$180M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $6.20B | 101 | +38.20% | +17.59% | +20.61% | -0.11B |
| 2025-12-31 | $6.11B | 100 | +29.90% | +17.72% | +12.18% | -0.22B |
| 2025-09-30 | $5.82B | 98 | +17.74% | +17.52% | +0.22% | -0.04B |
| 2025-06-30 | $5.23B | 93 | +12.99% | +14.94% | -1.95% | +0.07B |
| 2025-03-31 | $4.70B | 89 | +2.01% | +8.30% | -6.30% | -0.33B |
| 2024-12-31 | $5.17B | 100 | +12.17% | +24.89% | -12.72% | -0.26B |
| 2024-09-30 | $5.51B | 101 | +25.03% | +36.04% | -11.00% | -0.16B |
| 2024-06-30 | $5.27B | 104 | +11.79% | +24.49% | -12.70% | -0.42B |
| 2024-03-31 | $5.75B | 102 | +16.69% | +29.62% | -12.93% | -0.12B |
| 2023-12-31 | $5.49B | 96 | +12.68% | +26.18% | -13.50% | -0.11B |
| 2023-09-30 | $5.10B | 98 | +15.01% | +21.57% | -6.56% | -0.07B |
| 2023-06-30 | $5.37B | 94 | +8.26% | +19.42% | -11.17% | -0.16B |
| 2023-03-31 | $5.35B | 89 | -10.32% | -7.82% | -2.50% | -0.38B |
| 2022-12-31 | $5.55B | 97 | +12.03% | +7.56% | +4.47% | -0.10B |
| 2022-09-30 | $5.04B | 101 | -9.37% | -4.93% | -4.44% | -0.08B |
| 2022-06-30 | $5.65B | 100 | -14.42% | -16.11% | +1.69% | -0.09B |