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

0$100.0M$200.0M$300.0M$400.0M$500.0M Q1 2024: $385.5M Q1 2024 Q2 2024: $259.3M Q2 2024 Q3 2024: $346.7M Q3 2024 Q4 2024: $249.7M $249.7M Q4 2024 Q1 2025: $268.5M Q1 2025 Q2 2025: $361.8M Q2 2025 Q3 2025: $437.3M Q3 2025 Q4 2025: $415.3M Q4 2025 Q1 2026: $292.2M Q1 2026 Q2 2026: $359.8M Q2 2026

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
ISRG Intuitive Surgical Inc. 0.09% 480 $214K New
NOK Nokia Corp.-Spon ADR 0.08% 55,500 $208K New
SAP Sap SE-Sponsored ADR 0.08% 835 $206K New
MUFG Mitsubishi Ufj Finl-Spon ADR 0.08% 18,800 $203K No change
VOD Vodafone Group PLC-SP ADR 0.08% 22,300 $198K No change
JD Jd.com Inc.-ADR 0.08% 7,300 $189K No change
BZ Kanzhun Ltd. - ADR 0.08% 10,000 $188K No change
FMS Fresenius Medical Care-ADR 0.07% 9,800 $187K New
HCM Hutchmed China-ADR 0.07% 10,900 $187K New
SQM Quimica Y Minera Chil-SP ADR filed as SOCIEDAD QUIMICA Y MINERA DE 0.07% 5,000 $182K New
WDS Woodside Energy Group-ADR 0.07% 11,612 $181K Add +100.0%
EDU New Oriental Educatio-SP ADR 0.07% 2,300 $179K No change
KC Kingsoft Cloud Holdings-ADR 0.07% 70,700 $177K No change
NWG Natwest Group PLC -Spon ADR 0.07% 21,924 $176K No change
ASR Grupo Aeroportuario Sur-ADR 0.07% 580 $174K New
KB KB Financial Group Inc.-ADR filed as KB FINL GROUP INC 0.07% 3,043 $172K No change
TV Grupo Televisa SA-Spon ADR 0.07% 60,500 $168K No change
IQ Iqiyi Inc.-ADR 0.07% 44,500 $163K No change
VIPS Vipshop Holdings Ltd. - ADR 0.06% 12,000 $162K New
FUTU Futu Holdings Ltd.-ADR filed as FUTU HLDGS LTD 0.06% 2,308 $151K No change
TS Tenaris SA-ADR 0.06% 4,700 $143K New
IHG Intercontinental Hotels-ADR 0.06% 1,348 $143K No change
SONY Sony Group Corp. - SP ADR 0.06% 2,638 $140K New
HSBC HSBC Holdings PLC-Spons ADR filed as HSBC HLDGS PLC 0.05% 3,080 $134K No change
TME Tencent Music Entertainm-ADR 0.05% 11,400 $129K Add +6.5%
GSK GSK PLC-Spon ADR 0.05% 3,323 $128K No change
OLK Olink Holding AB - ADR filed as Korea Electric Power Corp 0.05% 4,714 $120K New
PDD PDD Holdings Inc. 0.05% 1,175 $114K Add +6.8%
LU Lufax Holding Ltd.-ADR 0.04% 44,600 $106K No change
JHX James Hardie Ord 0.04% 3,252 $103K No change
PKX Posco Holdings Inc. -Spon ADR 0.02% 1,295 $56K No change
XLRE SS Real Estate Select Sector 0.02% 1,030 $42K New
SLF Sun Life Financial Inc. 0.01% 298 $25K New

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

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 136$359.8MCAT, LRCX, HBM, HWM, RY
Q1 2026 114$292.2MSU, AGI, NTR, CP, IMO
Q4 2025 131$415.3MASML, ITA, BBVA, GFI, DGRO
Q3 2025 173$437.3MAEM, BMO, CCJ, SAN, IMO
Q2 2025 178$361.8MBMO, HWM, SAN, GEV, JPM
Q1 2025 146$268.5MAEM, KGC, ENB, JPM, HWM
Q4 2024 133$249.7MWCN, PGR, NVDA, RY, MSFT
Q3 2024 161$346.7MCM, AEM, TRI, IMO, AVGO
Q2 2024 173$259.3MLLY, NVDA, AEM, MSFT, COST
Q1 2024 173$385.5MIMO, CNQ, TRI, LLY, CM