Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+2.19%
adds when stocks drop
when a holding falls −10%+
Middle response
-1.14%
baseline attrition
Rally response
-1.92%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| SUSuncor Energy Inc. | $231M | 6.2% | +77.6% | 10.5 yr |
| SAP.TOSaputo Inc. | $174M | 4.7% | +79.1% | 1.5 yr |
| MFCManulife Financial Corpo | $161M | 4.3% | +15.0% | 10.0 yr |
| PBAPembina Pipeline Corpora | $159M | 4.3% | +17.8% | 6.8 yr |
| TRPTC Energy Corporation | $158M | 4.3% | +37.4% | 7.0 yr |
| CMCanadian Imperial Bank o | $147M | 4.0% | +73.0% | 10.5 yr |
| RYRoyal Bank of Canada | $144M | 3.9% | +48.2% | 10.5 yr |
| GILGildan Activewear Inc. | $144M | 3.9% | +28.0% | 8.5 yr |
| BNSThe Bank of Nova Scotia | $140M | 3.8% | +52.4% | 10.5 yr |
| SLFSun Life Financial Inc. | $139M | 3.8% | +14.0% | 10.3 yr |
| BMOBank of Montreal | $136M | 3.7% | +47.5% | 10.5 yr |
| CTC-A.TOCanadian Tire Corporatio | $135M | 3.6% | +30.7% | 2.5 yr |
| — | $131M | 3.5% | — | 2.8 yr |
| BNBrookfield Corporation | $128M | 3.4% | +16.5% | 3.0 yr |
| CNICanadian National Railwa | $122M | 3.3% | +8.2% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Banks - Diversified19.4%+1.7pp$719M
Oil & Gas Midstream9.2%-2.8pp$340M
Oil & Gas Integrated6.2%+1.5pp$231M
Packaged Foods4.7%+1.7pp$174M
Unknown4.6%+0.9pp$170M
Insurance - Life4.3%-0.8pp$161M
Semiconductors4.2%+1.8pp$154M
Industrial - Machinery4.0%+1.7pp$150M
Apparel - Manufacturers3.9%-0.2pp$144M
Insurance - Diversified3.8%+1.6pp$139M
Country
CA71.1%+1.9pp
US18.7%-1.3pp
Unknown4.6%+0.9pp
DE1.4%-0.5pp
TW1.0%
FR0.9%+0.2pp
IT0.8%+0.1pp
NL0.8%+0.1pp
Top 5: 23.8% · Top 10: 43.0% · Top 25: 79.6%
Top buys this quarter · 15
| SLF Sun Life Financial Inc. | +$72M |
| CCL-B.TO CCL Industries Inc. | +$30M |
| IFC.TO Intact Financial Corporation | +$114M |
| CNI Canadian National Railway Comp | +$122M |
| ETR Entergy Corporation | +$17M |
| ABBV AbbVie Inc. | +$55M |
| EFN.TO Element Fleet Management Corp. | +$86M |
| PBA Pembina Pipeline Corporation | +$159M |
| AJG Arthur J. Gallagher & Co.new | +$9M |
| TRP TC Energy Corporation | +$158M |
Top sells this quarter · 15
| ENB Enbridge Inc. | −$24M |
| ORCL Oracle Corporationexit | −$20M |
| CM Canadian Imperial Bank of Comm | −$17M |
| MRK Merck & Co., Inc. | −$12M |
| NA.TO National Bank of Canada | −$85M |
| AMAT Applied Materials, Inc. | −$5M |
| GPN Global Payments Inc.exit | −$4M |
| NTR Nutrien Ltd. | −$4M |
| SONY Sony Group Corporationexit | −$0M |
| AP-UN.TO Allied Properties Real Estate exit | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $3.71B | 66 | +29.12% | +17.59% | +11.53% | -0.89B |
| 2025-12-31 | $4.45B | 70 | +24.58% | +17.72% | +6.86% | +0.80B |
| 2025-09-30 | $3.46B | 77 | +20.53% | +17.52% | +3.01% | +0.04B |
| 2025-06-30 | $3.19B | 68 | +27.49% | +14.94% | +12.55% | -0.06B |
| 2025-03-31 | $2.94B | 70 | +14.52% | +8.30% | +6.22% | +0.01B |
| 2024-12-31 | $2.94B | 69 | +23.26% | +24.89% | -1.62% | +0.46B |
| 2024-09-30 | $2.43B | 58 | +35.79% | +36.04% | -0.25% | -0.52B |
| 2024-06-30 | $2.60B | 66 | +14.84% | +24.49% | -9.65% | +0.37B |
| 2024-03-31 | $2.25B | 53 | +18.61% | +29.62% | -11.01% | -0.01B |
| 2023-12-31 | $2.11B | 52 | +12.59% | +26.18% | -13.59% | -0.05B |
| 2023-09-30 | $1.92B | 55 | +9.00% | +21.57% | -12.57% | +0.01B |
| 2023-06-30 | $2.00B | 55 | +2.19% | +19.42% | -17.23% | +0.11B |
| 2023-03-31 | $1.84B | 54 | -12.11% | -7.82% | -4.30% | +0.04B |
| 2022-12-31 | $1.77B | 54 | +8.92% | +7.56% | +1.36% | -0.02B |
| 2022-09-30 | $1.64B | 54 | -10.08% | -4.93% | -5.16% | +0.01B |
| 2022-06-30 | $1.81B | 77 | -11.82% | -16.11% | +4.29% | -0.00B |