Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+2.80%
adds when stocks drop
when a holding falls −10%+
Middle response
+3.91%
steady accumulation
Rally response
-1.26%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| TDThe Toronto-Dominion Ban | $3.67B | 6.5% | +60.9% | 10.5 yr |
| RYRoyal Bank of Canada | $3.22B | 5.7% | +48.2% | 10.0 yr |
| CNQCanadian Natural Resourc | $2.19B | 3.8% | +66.0% | 10.3 yr |
| BNSThe Bank of Nova Scotia | $1.80B | 3.2% | +52.4% | 9.8 yr |
| BMOBank of Montreal | $1.79B | 3.1% | +47.5% | 10.5 yr |
| ENBEnbridge Inc. | $1.37B | 2.4% | +29.3% | 10.0 yr |
| SPYState Street SPDR S&P 50 | $1.18B | 2.1% | +17.6% | 10.5 yr |
| CMCanadian Imperial Bank o | $1.17B | 2.1% | +73.0% | 10.5 yr |
| NVDANVIDIA Corporation | $1.09B | 1.9% | +60.9% | 10.5 yr |
| SHOPShopify Inc. | $1.04B | 1.8% | +24.2% | 10.5 yr |
| TRPTC Energy Corporation | $958M | 1.7% | +37.4% | 7.0 yr |
| AAPLApple Inc. | $889M | 1.6% | +14.7% | 10.3 yr |
| AEMAgnico Eagle Mines Limit | $845M | 1.5% | +89.2% | 10.0 yr |
| QQQInvesco QQQ Trust, Serie | $814M | 1.4% | — | 8.0 yr |
| SUSuncor Energy Inc. | $809M | 1.4% | +77.6% | 10.0 yr |
Portfolio composition (YoY)
Industry mix
Banks - Diversified22.8%-1.8pp$13.00B
Asset Management11.3%+1.5pp$6.44B
Oil & Gas Midstream5.4%-1.7pp$3.09B
Gold5.1%+2.5pp$2.92B
Semiconductors5.0%+1.9pp$2.87B
Oil & Gas Exploration & Production4.4%+1.8pp$2.53B
Telecommunications Services3.5%-0.9pp$1.98B
Oil & Gas Integrated3.3%-0.2pp$1.90B
Unknown2.5%-0.8pp$1.40B
Software - Application2.4%-0.2pp$1.36B
Country
CA53.7%+0.0pp
US41.0%+1.2pp
Unknown2.5%-0.8pp
TW0.7%+0.3pp
BM0.6%-0.0pp
GB0.4%-0.1pp
IE0.2%-0.1pp
NL0.2%+0.0pp
Top 5: 22.3% · Top 10: 32.5% · Top 25: 52.0%
Top buys this quarter · 15
| SPY State Street SPDR S&P 500 ETF | +$899M |
| NVDA NVIDIA Corporation | +$298M |
| QSR Restaurant Brands Internationa | +$227M |
| JPM JPMorgan Chase & Co. | +$207M |
| SLF Sun Life Financial Inc. | +$164M |
| AEM Agnico Eagle Mines Limited | +$126M |
| AAPL Apple Inc. | +$99M |
| BMO Bank of Montreal | +$86M |
| BN Brookfield Corporation | +$796M |
| WFC Wells Fargo & Company | +$73M |
Top sells this quarter · 15
| SU Suncor Energy Inc. | −$918M |
| TRP TC Energy Corporation | −$518M |
| MFC Manulife Financial Corporation | −$290M |
| MGA Magna International Inc. | −$179M |
| BNS The Bank of Nova Scotia | −$178M |
| MSFT Microsoft Corporation | −$170M |
| RY Royal Bank of Canada | −$121M |
| CTSH Cognizant Technology Solutions | −$116M |
| CVE Cenovus Energy Inc. | −$280M |
| UBS UBS Group AG | −$83M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $56.92B | 1395 | +37.64% | +17.59% | +20.05% | -0.49B |
| 2025-12-31 | $55.88B | 1348 | +32.52% | +17.72% | +14.80% | +4.42B |
| 2025-09-30 | $48.30B | 1310 | +23.88% | +17.52% | +6.36% | -2.06B |
| 2025-06-30 | $45.18B | 1274 | +23.66% | +14.94% | +8.72% | -4.25B |
| 2025-03-31 | $43.82B | 1266 | +8.80% | +8.30% | +0.49% | +0.85B |
| 2024-12-31 | $43.45B | 1265 | +14.71% | +24.89% | -10.18% | -0.76B |
| 2024-09-30 | $44.39B | 1214 | +29.41% | +36.04% | -6.62% | -0.40B |
| 2024-06-30 | $40.25B | 1184 | +10.44% | +24.49% | -14.05% | +1.56B |
| 2024-03-31 | $38.98B | 1207 | +15.92% | +29.62% | -13.70% | +2.17B |
| 2023-12-31 | $35.30B | 1150 | +15.18% | +26.18% | -11.00% | +4.01B |
| 2023-09-30 | $27.84B | 1122 | +9.41% | +21.57% | -12.15% | +0.22B |
| 2023-06-30 | $29.09B | 1114 | +5.82% | +19.42% | -13.60% | +0.29B |
| 2023-03-31 | $27.65B | 1144 | -13.14% | -7.82% | -5.32% | +1.32B |
| 2022-12-31 | $25.41B | 1126 | -20.03% | -18.17% | -1.86% | +0.57B |
| 2022-09-30 | $23.27B | 1132 | -16.80% | -15.51% | -1.29% | +0.21B |
| 2022-06-30 | $25.11B | 1179 | -8.88% | -10.62% | +1.74% | -0.11B |