Barometer Capital Management Inc.
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 13, 2025), Barometer Capital Management Inc. reported 133 stock positions worth $249.7 million. Its top holding was Waste Connections (WCN) at 6.5% of the portfolio, followed by Progressive (PGR, 6.3%) and Nvidia (NVDA, 5.1%). Compared with Q3 2024, it opened 41 new positions, sold out of 69, added to 46 and reduced 19. The biggest buy was Waste Connections (WCN, shares +277%) and the biggest sale an exit from Can Imperial BK of Commerce (CM).
- Most Recent 13F
- Q2 2026
- Location
- TORONTO, A6
- CIK
- 0001536890
- Portfolio Value
- $249.7M (Q4 2024)
- SEC Filing
- 0001104659-25-012671 ↗ filed Feb 13, 2025
Holdings Value
Holdings 133 stocks · $249.7M
| WCN Waste Connections Inc. | 6.47% | 65,580 | $16.1M | Add +277.1% |
| PGR Progressive Corp. | 6.32% | 72,163 | $15.8M | Add +60.0% |
| NVDA Nvidia Corp. | 5.09% | 102,780 | $12.7M | New |
| RY Royal Bank of Canada | 5.02% | 72,881 | $12.5M | New |
| MSFT Microsoft Corp. | 4.94% | 27,604 | $12.3M | Reduce -7.1% |
| SPG Simon Property Group Inc. | 4.51% | 69,455 | $11.3M | Add +95.9% |
| JPM JPMorgan Chase & Co. | 4.10% | 50,905 | $10.2M | Reduce -4.6% |
| META Meta Platforms Inc. Class A | 4.03% | 19,945 | $10.1M | Reduce -4.8% |
| STN Stantec Inc. | 3.68% | 80,160 | $9.2M | New |
| RGA Reinsurance Group of America | 3.48% | 42,335 | $8.7M | Reduce -1.6% |
| TRP TC Energy Corp. | 3.37% | 162,440 | $8.4M | New |
| SU Suncor Energy Inc. | 3.13% | 152,322 | $7.8M | New |
| TRI Thomson Reuters Corp. | 2.79% | 30,200 | $7.0M | Reduce -52.5% |
| NEE Nextera Energy Inc. | 2.67% | 94,110 | $6.7M | Add +0.1% |
| U Unity Software Inc. | 2.36% | 306,044 | $5.9M | Add +93.7% |
| GD General Dynamics Corp. | 2.04% | 17,686 | $5.1M | Reduce -26.7% |
| MFC Manulife Financial Corp. | 1.83% | 125,674 | $4.6M | Reduce -9.4% |
| SYK Stryker Corp. | 1.62% | 11,865 | $4.0M | New |
| MCK McKesson Corp. | 1.58% | 6,757 | $3.9M | New |
| QCOM Qualcomm Inc. | 1.44% | 18,090 | $3.6M | New |
| HWM Howmet Aerospace Inc. | 1.37% | 44,190 | $3.4M | Reduce -16.6% |
| GS Goldman Sachs Group Inc. | 1.35% | 7,478 | $3.4M | Reduce -7.0% |
| V Visa Inc. Class A | 1.29% | 10,180 | $3.2M | Reduce -1.3% |
| MSI Motorola Solutions Inc. | 1.22% | 7,897 | $3.0M | Reduce -15.5% |
| VMC Vulcan Materials Co. | 1.20% | 12,097 | $3.0M | New |
| RF Regions Financial Corp. | 1.09% | 115,890 | $2.7M | New |
| SO The Southern Co. | 0.86% | 27,640 | $2.1M | Reduce -28.8% |
| RIO Rio Tinto PLC-Spon ADR | 0.83% | 31,250 | $2.1M | New |
| PHYS Sprott Physical Gold Trust | 0.77% | 100,400 | $1.9M | Add +73.0% |
| PSLV Sprott Physical Silver Trust | 0.68% | 173,600 | $1.7M | Add +125.2% |
| GDX Vaneck Gold Miners ETF | 0.65% | 47,900 | $1.6M | Add +148.8% |
| KCE SS SPDR S&P Cap MKTS ETF | 0.60% | 12,400 | $1.5M | Add +83.7% |
| KIE SS SPDR S&P Insurance ETF | 0.60% | 28,360 | $1.5M | Add +97.9% |
| GDXJ Vaneck Junior Gold Miners | 0.58% | 34,200 | $1.5M | Add +134.3% |
| VLO Valero Energy Corp. | 0.58% | 9,250 | $1.4M | New |
| VIS Vanguard Industrials ETF | 0.57% | 5,890 | $1.4M | Add +103.5% |
| XME SS SPDR S&P Metals Mining | 0.55% | 23,800 | $1.4M | Add +107.0% |
| ASHR Xtrackers Harvest Csi 300 CH | 0.43% | 40,400 | $1.1M | New |
| YPF YPF S.A.-Sponsored ADR filed as YPF SOCIEDAD ANONIMA | 0.41% | 29,000 | $1.0M | Add +215.2% |
| IBIT iShares Bitcoin Trust ETF | 0.39% | 28,300 | $966K | Reduce -13.7% |
| ZLAB Zai Lab Ltd.-ADR | 0.37% | 39,100 | $913K | Add +212.8% |
| XPEV Xpeng Inc. - ADR | 0.33% | 80,400 | $835K | Add +214.1% |
| TCOM Trip.com Group Ltd.-ADR | 0.33% | 14,154 | $815K | Add +110.4% |
| SMFG Sumitomo Mitsui-Spons ADR | 0.31% | 56,108 | $782K | Add +93.1% |
| PPA Invesco Aerospace & Defense | 0.31% | 7,570 | $778K | Add +7.1% |
| VRNA Verona Pharma Ltd. | 0.29% | 23,600 | $731K | Add +107.0% |
| PSO Pearson PLC-Sponsored ADR | 0.29% | 50,622 | $726K | Add +104.0% |
| FEZ State Street SPDR Euro Stoxx | 0.28% | 14,200 | $710K | New |
| QFIN Qfin Holdings Inc.-ADR filed as QIFU TECHNOLOGY INC | 0.28% | 22,276 | $701K | Add +170.4% |
| EPI Wisdomtree India Earnings | 0.28% | 14,500 | $700K | Add +6.6% |
| OC Owens Corning | 0.28% | 4,000 | $693K | New |
| WB Weibo Corp.-Spon ADR | 0.27% | 75,400 | $675K | Add +214.2% |
| KRE SS SPDR S&P Regional Bank | 0.27% | 11,140 | $672K | New |
| XLB SS Materials Select Sector | 0.26% | 7,400 | $653K | Reduce -7.5% |
| URA Global X Uranium ETF | 0.26% | 22,500 | $651K | Add +25.0% |
| TSM Taiwan Semiconductor-SP ADR | 0.25% | 3,326 | $629K | Add +178.8% |
| COPX Global X Copper Miners ETF | 0.25% | 13,700 | $618K | Reduce -25.1% |
| SE Sea Ltd.-ADR | 0.24% | 6,800 | $607K | Add +106.1% |
| PICK iShares MSCI Global Metals & | 0.24% | 14,600 | $596K | New |
| PAM Pampa Energia SA-Spon ADR | 0.24% | 8,900 | $595K | Add +107.0% |
| XLF SS Financial Select Sector | 0.24% | 14,300 | $588K | New |
| WIT Wipro Ltd.-ADR | 0.23% | 115,306 | $581K | Add +65.2% |
| TTE Totalenergies SE -Spon ADR | 0.22% | 9,178 | $555K | Add +104.5% |
| XES SS SPDR S&P Og Eqp & Serv | 0.22% | 6,100 | $554K | New |
| EVX Vaneck Environmental Service | 0.21% | 3,100 | $529K | Add +24.0% |
| XMMO Invesco S&P Midcap Momentum | 0.21% | 4,600 | $524K | Reduce -24.6% |
| PNQI Invesco Nasdaq Internet ETF | 0.20% | 12,100 | $497K | New |
| TKC Turkcell Iletisim Hizmet-ADR | 0.20% | 70,832 | $488K | New |
| XOP SS SPDR S&P Og Exp & Prod | 0.19% | 3,300 | $480K | New |
| DXJ Wisdomtree Japan Hedged Eq | 0.19% | 4,108 | $463K | New |
| SSL Sasol Ltd.-Sponsored ADR | 0.18% | 74,342 | $441K | New |
| RLX RLX Technology Inc.-ADR | 0.17% | 211,800 | $425K | Add +106.8% |
| GGAL Grupo Financiero Galicia-ADR | 0.16% | 13,584 | $406K | No change |
| SKM SK Telecom Co. Ltd.-Spon ADR | 0.16% | 19,100 | $401K | Add +107.6% |
| XLU St Sr Utl SL SE SPDR ETF-Usd | 0.16% | 5,800 | $395K | New |
| PBR Petroleo Brasileiro-Spon ADR | 0.15% | 27,424 | $385K | Add +248.8% |
| ARGT Global X MSCI Argentina ETF | 0.15% | 6,700 | $381K | Reduce -19.3% |
| PUK Prudential PLC-ADR | 0.15% | 22,100 | $378K | Add +106.5% |
| ZTO Zto Express Cayman Inc.-ADR | 0.15% | 18,342 | $366K | Add +200.0% |
| HMY Harmony Gold MNG-Spon ADR | 0.15% | 39,819 | $365K | New |
| MFG Mizuho Financial Group-ADR | 0.14% | 83,272 | $352K | No change |
| YMM Full Truck Alliance -SPN ADR | 0.13% | 41,417 | $333K | No change |
| TIMB Tim SA-ADR | 0.13% | 24,068 | $328K | Add +38.0% |
| UBS UBS Group AG-Reg | 0.13% | 10,889 | $322K | No change |
| MOMO Hello Group Inc. -SPN ADR | 0.13% | 51,204 | $313K | No change |
| HIMX Himax Technologies Inc.-ADR | 0.12% | 36,300 | $288K | No change |
| GDS GDS Holdings Ltd. - ADR filed as GDS HLDGS LTD | 0.11% | 29,800 | $277K | No change |
| SIMO Silicon Motion Technol-ADR | 0.11% | 4,072 | $275K | Add +100.0% |
| GFI Gold Fields Ltd.-Spons ADR | 0.11% | 18,146 | $270K | No change |
| OMAB Grupo Aeroportuario Cen-ADR | 0.11% | 3,950 | $267K | New |
| MCHI iShares MSCI China ETF | 0.10% | 6,100 | $257K | New |
| PHI PLDT Inc.-Spon ADR | 0.10% | 10,448 | $244K | Add +100.0% |
| UGP Ultrapar Particpac-Spon ADR | 0.10% | 73,900 | $240K | Add +107.0% |
| JKS Jinkosolar Holding Co.-ADR | 0.09% | 11,376 | $236K | No change |
| LKFT Lakefront Biotherapeutic-ADR filed as GALAPAGOS NV | 0.09% | 9,417 | $233K | Reduce -12.1% |
| PHG Koninklijke Philips NVR- NY | 0.09% | 9,200 | $232K | Reduce -3.0% |
| UMC United Microelectron-SP ADR | 0.09% | 30,894 | $229K | Add +100.0% |
| TEVA Teva Pharmaceutical-SP ADR | 0.09% | 10,100 | $223K | Add +7.5% |
| NG Novagold Resources Inc. | 0.09% | 46,405 | $222K | Add +111.8% |
| NVO Novo-Nordisk A/S-Spons ADR | 0.09% | 1,530 | $218K | No change |
Portfolio Sells Q3 2024 → Q4 2024
| CM Can Imperial BK of Commerce | Sold out | 0.00% | −5.47 |
| AEM Agnico Eagle Mines Ltd. | Sold out | 0.00% | −5.04 |
| IMO Imperial Oil Ltd. | Sold out | 0.00% | −4.07 |
| AVGO Broadcom Inc. | Sold out | 0.00% | −3.84 |
| LLY Eli Lilly & Co. | Sold out | 0.00% | −3.65 |
| COST Costco Wholesale Corp. | Sold out | 0.00% | −3.46 |
| GE General Electric | Sold out | 0.00% | −3.33 |
| KGC Kinross Gold Corp. | Sold out | 0.00% | −3.28 |
| PBA Pembina Pipeline Corp. | Sold out | 0.00% | −3.26 |
| AAPL Apple Inc. | Sold out | 0.00% | −3.20 |
| IBM Intl Business Machines Corp. | Sold out | 0.00% | −1.62 |
| TRI Thomson Reuters Corp. | Reduce -52.5% | 2.79% | −1.44 |
| ENB Enbridge Inc. | Sold out | 0.00% | −1.37 |
| BWXT BWX Technologies Inc. | Sold out | 0.00% | −1.37 |
| ABBV Abbvie Inc. | Sold out | 0.00% | −1.13 |
| TECK Teck Resources Ltd.-CLS B | Sold out | 0.00% | −1.13 |
| T AT&T Inc. | Sold out | 0.00% | −0.87 |
| CPB The Campbell's Company | Sold out | 0.00% | −0.70 |
| BAC Bank of America Corp. | Sold out | 0.00% | −0.69 |
| AGI Alamos Gold Inc. Class A | Sold out | 0.00% | −0.63 |
| PM Philip Morris International | Sold out | 0.00% | −0.63 |
| UBER Uber Technologies Inc. | Sold out | 0.00% | −0.59 |
| ACGL Arch Capital Group Ltd. | Sold out | 0.00% | −0.57 |
| EMBJ Embraer SA-Spon ADR | Sold out | 0.00% | −0.57 |
| CR Crane Co. | Sold out | 0.00% | −0.53 |
| REGN Regeneron Pharmaceuticals | Sold out | 0.00% | −0.47 |
| FCX Freeport-McMoran Inc. | Sold out | 0.00% | −0.36 |
| RACE Ferrari NV | Sold out | 0.00% | −0.30 |
| NVS Novartis AG-Sponsored ADR | Sold out | 0.00% | −0.30 |
| RDVY First Trust Rising Dividend | Sold out | 0.00% | −0.21 |
| PAVE Global X US Infrastructure | Sold out | 0.00% | −0.21 |
| EWJ iShares MSCI Japan ETF | Sold out | 0.00% | −0.20 |
| SILJ Amplify Junior Silver Miners | Sold out | 0.00% | −0.20 |
| SDVY First Trust Smid Cap Rising | Sold out | 0.00% | −0.19 |
| FXR First Trust Indst/Producers | Sold out | 0.00% | −0.19 |
| HWM Howmet Aerospace Inc. | Reduce -16.6% | 1.37% | −0.16 |
| SO The Southern Co. | Reduce -28.8% | 0.86% | −0.15 |
| BMA Banco Macro SA-ADR | Sold out | 0.00% | −0.15 |
| FIW First Trust Water ETF | Sold out | 0.00% | −0.15 |
| BNS Bank of Nova Scotia | Sold out | 0.00% | −0.14 |
| BABA Alibaba Group Holding-SP ADR | Sold out | 0.00% | −0.13 |
| HARMONY GOLD MINING CO LTD | Sold out | 0.00% | −0.12 |
| PKW Invesco Buyback Achievers Et | Sold out | 0.00% | −0.12 |
| BILI Bilibili Inc.-Sponsored ADR | Sold out | 0.00% | −0.11 |
| CP Canadian Pacific Kansas City | Sold out | 0.00% | −0.11 |
| BIDU Baidu Inc. - Spon ADR | Sold out | 0.00% | −0.09 |
| BBVA Banco Bilbao Vizcaya-SP ADR | Sold out | 0.00% | −0.09 |
| SID Cia Siderurgica Nacl-SP ADR | Sold out | 0.00% | −0.08 |
| BNTX Biontech SE-ADR | Sold out | 0.00% | −0.08 |
| BBD Banco Bradesco-ADR | Sold out | 0.00% | −0.07 |
Portfolio Buys Q3 2024 → Q4 2024
| WCN Waste Connections Inc. | Add +277.1% | 6.47% | +5.25 |
| NVDA Nvidia Corp. | New | 5.09% | +5.09 |
| RY Royal Bank of Canada | New | 5.02% | +5.02 |
| STN Stantec Inc. | New | 3.68% | +3.68 |
| TRP TC Energy Corp. | New | 3.37% | +3.37 |
| SU Suncor Energy Inc. | New | 3.13% | +3.13 |
| PGR Progressive Corp. | Add +60.0% | 6.32% | +3.02 |
| SPG Simon Property Group Inc. | Add +95.9% | 4.51% | +2.79 |
| SYK Stryker Corp. | New | 1.62% | +1.62 |
| MCK McKesson Corp. | New | 1.58% | +1.58 |
| QCOM Qualcomm Inc. | New | 1.44% | +1.44 |
| U Unity Software Inc. | Add +93.7% | 2.36% | +1.33 |
| VMC Vulcan Materials Co. | New | 1.20% | +1.20 |
| RF Regions Financial Corp. | New | 1.09% | +1.09 |
| RIO Rio Tinto PLC-Spon ADR | New | 0.83% | +0.83 |
| VLO Valero Energy Corp. | New | 0.58% | +0.58 |
| PSLV Sprott Physical Silver Trust | Add +125.2% | 0.68% | +0.45 |
| GDX Vaneck Gold Miners ETF | Add +148.8% | 0.65% | +0.43 |
| ASHR Xtrackers Harvest Csi 300 CH | New | 0.43% | +0.43 |
| PHYS Sprott Physical Gold Trust | Add +73.0% | 0.77% | +0.43 |
| NEE Nextera Energy Inc. | Add +0.1% | 2.67% | +0.38 |
| GDXJ Vaneck Junior Gold Miners | Add +134.3% | 0.58% | +0.38 |
| KIE SS SPDR S&P Insurance ETF | Add +97.9% | 0.60% | +0.36 |
| KCE SS SPDR S&P Cap MKTS ETF | Add +83.7% | 0.60% | +0.36 |
| VIS Vanguard Industrials ETF | Add +103.5% | 0.57% | +0.36 |
| YPF YPF S.A.-Sponsored ADR | Add +215.2% | 0.41% | +0.35 |
| XME SS SPDR S&P Metals Mining | Add +107.0% | 0.55% | +0.34 |
| FEZ State Street SPDR Euro Stoxx | New | 0.28% | +0.28 |
| ZLAB Zai Lab Ltd.-ADR | Add +212.8% | 0.37% | +0.28 |
| OC Owens Corning | New | 0.28% | +0.28 |
| KRE SS SPDR S&P Regional Bank | New | 0.27% | +0.27 |
| XPEV Xpeng Inc. - ADR | Add +214.1% | 0.33% | +0.24 |
| PICK iShares MSCI Global Metals & | New | 0.24% | +0.24 |
| XLF SS Financial Select Sector | New | 0.24% | +0.24 |
| XES SS SPDR S&P Og Eqp & Serv | New | 0.22% | +0.22 |
| TCOM Trip.com Group Ltd.-ADR | Add +110.4% | 0.33% | +0.21 |
| QFIN Qfin Holdings Inc.-ADR | Add +170.4% | 0.28% | +0.21 |
| SMFG Sumitomo Mitsui-Spons ADR | Add +93.1% | 0.31% | +0.21 |
| WB Weibo Corp.-Spon ADR | Add +214.2% | 0.27% | +0.20 |
| PNQI Invesco Nasdaq Internet ETF | New | 0.20% | +0.20 |
| VRNA Verona Pharma Ltd. | Add +107.0% | 0.29% | +0.20 |
| TKC Turkcell Iletisim Hizmet-ADR | New | 0.20% | +0.20 |
| PSO Pearson PLC-Sponsored ADR | Add +104.0% | 0.29% | +0.19 |
| XOP SS SPDR S&P Og Exp & Prod | New | 0.19% | +0.19 |
| TSM Taiwan Semiconductor-SP ADR | Add +178.8% | 0.25% | +0.19 |
| DXJ Wisdomtree Japan Hedged Eq | New | 0.19% | +0.19 |
| SSL Sasol Ltd.-Sponsored ADR | New | 0.18% | +0.18 |
| WIT Wipro Ltd.-ADR | Add +65.2% | 0.23% | +0.17 |
| PAM Pampa Energia SA-Spon ADR | Add +107.0% | 0.24% | +0.16 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | New | 0.16% | +0.16 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 136 | $359.8M | CAT, LRCX, HBM, HWM, RY |
| Q1 2026 | 114 | $292.2M | SU, AGI, NTR, CP, IMO |
| Q4 2025 | 131 | $415.3M | ASML, ITA, BBVA, GFI, DGRO |
| Q3 2025 | 173 | $437.3M | AEM, BMO, CCJ, SAN, IMO |
| Q2 2025 | 178 | $361.8M | BMO, HWM, SAN, GEV, JPM |
| Q1 2025 | 146 | $268.5M | AEM, KGC, ENB, JPM, HWM |
| Q4 2024 | 133 | $249.7M | WCN, PGR, NVDA, RY, MSFT |
| Q3 2024 | 161 | $346.7M | CM, AEM, TRI, IMO, AVGO |
| Q2 2024 | 173 | $259.3M | LLY, NVDA, AEM, MSFT, COST |
| Q1 2024 | 173 | $385.5M | IMO, CNQ, TRI, LLY, CM |