Barometer Capital Management Inc.

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 12, 2026), Barometer Capital Management Inc. reported 131 stock positions worth $415.3 million. Its top holding was ASML Holding NV-NY Reg SHS (ASML) at 4.7% of the portfolio, followed by iShares U.S. Aerospace & Def (ITA, 4.4%) and Banco Bilbao Vizcaya-SP ADR (BBVA, 3.9%). Compared with Q3 2025, it sold out of 42, added to 74 and reduced 57. The biggest buy was ASML Holding NV-NY Reg SHS (ASML, shares +311807%) and the biggest sale Imperial Oil (IMO, shares −54%).

Most Recent 13F
Q2 2026
Location
TORONTO, A6
CIK
0001536890
Portfolio Value
$415.3M (Q4 2025)
SEC Filing
0001104659-26-013670 ↗ filed Feb 12, 2026

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 Q4 2024 Q1 2025: $268.5M Q1 2025 Q2 2025: $361.8M Q2 2025 Q3 2025: $437.3M Q3 2025 Q4 2025: $415.3M $415.3M Q4 2025 Q1 2026: $292.2M Q1 2026 Q2 2026: $359.8M Q2 2026

Holdings 131 stocks · $415.3M
ASML ASML Holding NV-NY Reg SHS 4.70% 505,290 $19.5M Add +311807.4%
ITA iShares U.S. Aerospace & Def 4.43% 1,569,380 $18.4M Add +198555.7%
BBVA Banco Bilbao Vizcaya-SP ADR 3.88% 69,412 $16.1M Add +8.9%
GFI Gold Fields Ltd.-Spons ADR 3.59% 47,582 $14.9M Add +30.9%
DGRO iShares Core Dividend Growth 3.33% 78,367 $13.8M Add +2076.9%
BVN Cia DE Minas Buenaventur-ADR filed as COMPANIA DE MINAS BUENAVENTU 3.27% 23,794 $13.6M Reduce -70.6%
HSBC HSBC Holdings PLC-Spons ADR filed as HSBC HLDGS PLC 3.21% 41,574 $13.3M Add +187.1%
MT Arcelormittal-NY Registered 3.16% 481,960 $13.1M Add +11189.8%
OMAB Grupo Aeroportuario Cen-ADR 3.12% 63,280 $13.0M Add +4264.1%
IDV iShares International Select 3.08% 68,487 $12.8M Add +987.1%
AIA iShares Asia 50 ETF 3.04% 73,710 $12.6M Add +2133.6%
AU Anglogold Ashanti PLC 2.97% 99,139 $12.3M Add +523.5%
IHG Intercontinental Hotels-ADR 2.96% 11,452 $12.3M Add +29.4%
BMO Bank of Montreal filed as BANK MONTREAL QUE 2.82% 43,045 $11.7M Reduce -56.8%
EWP iShares MSCI Spain ETF 2.80% 145,250 $11.6M Add +1945.8%
AVGO Broadcom Inc. 2.79% 33,464 $11.6M Add +156.2%
SAN Banco Santander SA-Spon ADR 2.77% 71,409 $11.5M Reduce -95.7%
ASND Ascendis Pharma A/S 2.61% 91,392 $10.8M Add +2241.0%
COPX Global X Copper Miners ETF 2.46% 33,199 $10.2M Add +466.5%
AADR Advisorshares Dorsey Wright 2.42% 43,230 $10.1M Add +1501.1%
EWT iShares MSCI Taiwan ETF 2.15% 48,628 $8.9M Add +872.6%
AEM Agnico Eagle Mines Ltd. 2.15% 168,200 $8.9M Add +104.3%
CCU Cia Cervecerias Uni-Spon ADR filed as COMPANIA CERVECERIAS UNIDAS 1.78% 265,700 $7.4M Add +2684.2%
GOOGL Alphabet Inc. Class A 1.73% 17,653 $7.2M Reduce -67.4%
BMA Banco Macro SA-ADR 1.68% 114,770 $7.0M Add +813.0%
EDU New Oriental Educatio-SP ADR 1.29% 121,722 $5.4M Add +660.8%
DAVA Endava PLC- Spon ADR 1.24% 80,220 $5.2M Add +301.1%
BIDU Baidu Inc. - Spon ADR 1.21% 70,685 $5.0M Add +631.4%
MFG Mizuho Financial Group-ADR 1.20% 11,084 $5.0M Reduce -70.1%
GEV GE Vernova Inc. 1.17% 14,499 $4.9M Reduce -36.6%
GE General Electric filed as GE AEROSPACE 1.07% 127,200 $4.4M Add +268.3%
MSFT Microsoft Corp. 1.00% 132,500 $4.1M Add +664.4%
ETHE Grayscale Ethereum Staking E 0.63% 130,500 $2.6M Add +601.6%
NWG Natwest Group PLC -Spon ADR 0.53% 8,523 $2.2M Reduce -89.0%
RY Royal Bank of Canada 0.52% 139,800 $2.2M Add +187.4%
EUAD Select Stoxx Eur Aer DE ETF 0.50% 103,000 $2.1M Add +1203.8%
JPM JPMorgan Chase & Co. 0.45% 14,500 $1.8M Reduce -64.9%
CAT Caterpillar Inc. 0.43% 69,500 $1.8M Add +460.5%
LIT Global X Lithium & Battery T 0.34% 32,500 $1.4M Add +855.9%
CCJ Cameco Corp. 0.32% 404,900 $1.3M Add +172.3%
CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BANK OF CO 0.32% 56,900 $1.3M Add +1571.6%
MUX McEwen Inc. 0.31% 18,800 $1.3M Reduce -24.8%
CLS Celestica Inc. 0.31% 9,725 $1.3M Reduce -59.4%
QTUM Defiance Quantum ETF 0.30% 42,900 $1.3M Add +1029.0%
SBS Cia Saneamento Basico DE-ADR filed as COMPANHIA DE SANEAMENTO BASI 0.29% 19,200 $1.2M Reduce -43.0%
NVDA Nvidia Corp. 0.29% 26,200 $1.2M Reduce -64.9%
BE Bloom Energy Corp. Class A 0.29% 1,430 $1.2M Reduce -90.5%
TV Grupo Televisa SA-Spon ADR 0.29% 8,500 $1.2M Reduce -97.3%
BABA Alibaba Group Holding-SP ADR 0.28% 11,454 $1.1M Add +614.1%
ESGE iShares Inc. iShares ESG Awar 0.27% 71,200 $1.1M Add +709.1%
ILF iShares Latin America 40 ETF 0.27% 63,200 $1.1M Add +700.0%
CSANY Cosan SA -ADR 0.27% 8,850 $1.1M Reduce -92.7%
RELX Relx PLC - Spon ADR 0.27% 83,400 $1.1M Add +561.9%
MS Morgan Stanley 0.26% 3,590 $1.1M Reduce -93.3%
GDS GDS Holdings Ltd. - ADR filed as GDS HLDGS LTD 0.26% 6,500 $1.1M Reduce -93.1%
NFLX Netflix Inc. 0.25% 362,800 $1.1M Add +934.5%
EEM iShares MSCI Emerging Market 0.25% 11,900 $1.1M Add +67.6%
MUFG Mitsubishi Ufj Finl-Spon ADR 0.25% 59,700 $1.0M Add +2.0%
PAAS Pan American Silver Corp. 0.25% 78,200 $1.0M Reduce -40.4%
AXIAY Axia Energia-ADR filed as CENTRAIS ELET BRAS SA 0.24% 20,000 $999K Add +39.6%
EMBJ Embraer SA-Spon ADR 0.24% 18,100 $996K Reduce -76.6%
IMO Imperial Oil Ltd. 0.23% 57,400 $947K Reduce -54.4%
URA Global X Uranium ETF 0.23% 30,600 $942K Add +424.9%
BN Brookfield Corp. 0.23% 6,400 $938K Reduce -73.5%
JD Jd.com Inc.-ADR 0.23% 39,332 $938K Add +82.1%
HOOD Robinhood Markets Inc. Class A 0.22% 89,400 $914K Add +1390.0%
SIL Global X Silver Miners ETF 0.22% 27,700 $906K Add +319.7%
LKFT Lakefront Biotherapeutic-ADR filed as GALAPAGOS NV 0.21% 37,100 $884K Add +34.3%
EA Electronic Arts Inc. 0.21% 87,400 $876K Add +291.5%
SIMO Silicon Motion Technol-ADR 0.21% 24,100 $871K Add +1083.7%
LNG Cheniere Energy Inc. 0.21% 9,500 $853K Reduce -68.7%
SITM Sitime Corp. 0.20% 47,400 $836K Add +1002.3%
RTX RTX Corp. 0.20% 14,100 $829K Reduce -66.8%
HBM Hudbay Minerals Inc. 0.19% 9,400 $809K Reduce -98.5%
PSO Pearson PLC-Sponsored ADR 0.18% 64,600 $766K Add +545.3%
CRH CRH PLC 0.18% 36,000 $742K Add +441.4%
AGI Alamos Gold Inc. Class A 0.17% 4,023 $711K Reduce -98.7%
MOMO Hello Group Inc. -SPN ADR 0.17% 24,400 $700K Add +41.0%
BP BP PLC-Spons ADR 0.17% 3,270 $697K Reduce -5.2%
LU Lufax Holding Ltd.-ADR 0.16% 7,000 $666K Reduce -95.1%
EUFN iShares MSCI Europe Financia 0.16% 19,800 $654K Add +72.9%
SSL Sasol Ltd.-Sponsored ADR 0.15% 27,600 $620K Reduce -66.6%
JOF Japan Smaller Capitalization 0.14% 2,450 $595K Reduce -94.2%
SID Cia Siderurgica Nacl-SP ADR filed as COMPANHIA SIDERURGICA NACION 0.14% 14,900 $585K Reduce -95.0%
FUTU Futu Holdings Ltd.-ADR filed as FUTU HLDGS LTD 0.14% 8,700 $584K Add +12.9%
EWS iShares MSCI Singapore ETF 0.14% 14,300 $578K Add +10.8%
HWM Howmet Aerospace Inc. 0.14% 52,100 $573K Reduce -26.2%
CSCO Cisco Systems Inc. 0.14% 7,900 $567K Reduce -87.4%
EC Ecopetrol SA-Sponsored ADR 0.14% 3,900 $562K Reduce -95.0%
CIB Grupo Cibest SA-ADR 0.13% 3,100 $556K Reduce -24.6%
KB KB Financial Group Inc.-ADR filed as KB FINL GROUP INC 0.13% 7,900 $550K Reduce -30.4%
XLF SS Financial Select Sector 0.13% 14,800 $549K Add +69.3%
EWW iShares MSCI Mexico ETF 0.13% 23,200 $549K Add +241.2%
FIG Figma Inc. Class A 0.13% 12,400 $548K Reduce -6.1%
CRTO Criteo SA-Spon 0.13% 137,800 $544K Add +2730.7%
DQ Daqo New Energy Corp.-ADR 0.13% 85,300 $539K Add +125.1%
ENIC Enel Chile SA-ADR 0.12% 11,200 $518K Reduce -95.4%
META Meta Platforms Inc. Class A 0.12% 79,500 $518K Add +411.0%
GMAB Genmab A/S -SP ADR 0.12% 4,500 $512K Reduce -85.5%
SAP Sap SE-Sponsored ADR 0.12% 184,100 $510K Add +8462.8%
EZU iShares MSCI Eurozone ETF 0.12% 9,800 $503K Add +216.1%
YMM Full Truck Alliance -SPN ADR 0.12% 13,200 $493K Reduce -26.7%
AIRR First Trust Rba American Ind 0.12% 9,000 $485K Add +650.0%
BEKE Ke Holdings Inc.-ADR filed as KE HLDGS INC 0.12% 300,900 $481K Add +3734.6%
KEP Korea Elec Power Corp.-SP ADR 0.12% 17,300 $479K Reduce -74.5%
E Eni SPA-Sponsored ADR 0.12% 6,600 $478K Add +80.7%
KGC Kinross Gold Corp. 0.11% 5,700 $476K Reduce -93.4%
SE Sea Ltd.-ADR 0.11% 4,500 $466K Reduce -85.9%
GSK GSK PLC-Spon ADR 0.11% 15,200 $463K Add +357.4%
HMY Harmony Gold MNG-Spon ADR 0.11% 9,600 $461K Reduce -92.2%
ENB Enbridge Inc. 0.11% 8,400 $460K Reduce -86.1%
BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA HALIFAX 0.11% 4,600 $452K Reduce -41.5%
IMTM iShares MSCI Intl Momentum F 0.11% 18,900 $447K Add +107.7%
FMS Fresenius Medical Care-ADR 0.11% 6,900 $442K Reduce -79.0%
EPU iShares MSCI Peru and Global 0.11% 6,300 $438K Add +34.0%
MCHI iShares MSCI China ETF 0.10% 2,900 $422K Reduce -50.0%
BBD Banco Bradesco-ADR 0.10% 11,100 $419K Reduce -96.9%
IBIT iShares Bitcoin Trust ETF 0.10% 162,500 $416K Add +1069.1%
GGAL Grupo Financiero Galicia-ADR 0.10% 8,200 $407K Add +19.1%
BCS Barclays PLC-Spons ADR 0.09% 4,100 $375K Reduce -94.7%
EWJ iShares MSCI Japan ETF 0.09% 2,000 $373K Reduce -39.4%
RDVY First Trust Rising Dividend 0.08% 11,000 $349K Add +150.6%
QFIN Qfin Holdings Inc.-ADR 0.08% 2,500 $342K Reduce -90.4%
FCX Freeport-McMoran Inc. 0.08% 4,900 $337K Reduce -76.9%
LRCX Lam Research Corp. 0.08% 3,800 $322K Reduce -89.2%
AXON Axon Enterprise Inc. 0.07% 21,905 $280K Add +673.5%
FJP First Trust Japan 0.07% 3,400 $275K Reduce -24.4%
EZA iShares MSCI South Africa Et 0.06% 3,300 $244K Reduce -34.0%
XLI SS Industrial Select Sector 0.05% 3,500 $227K Add +337.5%
PAM Pampa Energia SA-Spon ADR 0.04% 3,800 $162K Reduce -63.8%
IEV iShares Europe ETF 0.03% 1,400 $140K Reduce -61.1%

Portfolio Sells Q3 2025 → Q4 2025
IMO Imperial Oil Ltd. Reduce -54.4% 0.23% −3.40
AGI Alamos Gold Inc. Class A Reduce -98.7% 0.17% −3.17
HWM Howmet Aerospace Inc. Reduce -26.2% 0.14% −3.03
WPM Wheaton Precious Metals Corp. Sold out 0.00% −3.00
HBM Hudbay Minerals Inc. Reduce -98.5% 0.19% −2.90
NVDA Nvidia Corp. Reduce -64.9% 0.29% −2.90
JPM JPMorgan Chase & Co. Reduce -64.9% 0.45% −2.52
SU Suncor Energy Inc. Sold out 0.00% −2.12
GEV GE Vernova Inc. Reduce -36.6% 1.17% −2.05
MS Morgan Stanley Reduce -93.3% 0.26% −1.67
STN Stantec Inc. Sold out 0.00% −1.61
CLS Celestica Inc. Reduce -59.4% 0.31% −1.57
RTX RTX Corp. Reduce -66.8% 0.20% −1.43
LNG Cheniere Energy Inc. Reduce -68.7% 0.21% −1.42
PAAS Pan American Silver Corp. Reduce -40.4% 0.25% −1.37
GOOGL Alphabet Inc. Class A Reduce -67.4% 1.73% −1.28
BMO Bank of Montreal Reduce -56.8% 2.82% −1.27
U Unity Software Inc. Sold out 0.00% −1.21
SE Sea Ltd.-ADR Reduce -85.9% 0.11% −1.20
SAN Banco Santander SA-Spon ADR Reduce -95.7% 2.77% −1.18
LRCX Lam Research Corp. Reduce -89.2% 0.08% −1.00
TLK Telkom Indonesia Persero-ADR Sold out 0.00% −0.96
ENB Enbridge Inc. Reduce -86.1% 0.11% −0.86
CSCO Cisco Systems Inc. Reduce -87.4% 0.14% −0.84
EMBJ Embraer SA-Spon ADR Reduce -76.6% 0.24% −0.83
TTWO Take-Two Interactive Softwre Sold out 0.00% −0.75
GDS GDS Holdings Ltd. - ADR Reduce -93.1% 0.26% −0.57
KGC Kinross Gold Corp. Reduce -93.4% 0.11% −0.56
VRNA Verona Pharma Ltd. Sold out 0.00% −0.48
WDS Woodside Energy Group-ADR Sold out 0.00% −0.45
XPEV Xpeng Inc. - ADR Sold out 0.00% −0.44
HMY Harmony Gold MNG-Spon ADR Reduce -92.2% 0.11% −0.40
ZLAB Zai Lab Ltd.-ADR Sold out 0.00% −0.32
PHYS Sprott Physical Gold Trust Sold out 0.00% −0.28
TME Tencent Music Entertainm-ADR Sold out 0.00% −0.28
TSM Taiwan Semiconductor-SP ADR Sold out 0.00% −0.28
BCS Barclays PLC-Spons ADR Reduce -94.7% 0.09% −0.27
SMFG Sumitomo Mitsui-Spons ADR Sold out 0.00% −0.23
WB Weibo Corp.-Spon ADR Sold out 0.00% −0.22
UBS UBS Group AG-Reg Sold out 0.00% −0.21
VOD Vodafone Group PLC-SP ADR Sold out 0.00% −0.20
VALE Vale SA-SP ADR Sold out 0.00% −0.17
BBD Banco Bradesco-ADR Reduce -96.9% 0.10% −0.17
VIV Telefonica Brasil-ADR Sold out 0.00% −0.17
SQM Quimica Y Minera Chil-SP ADR Sold out 0.00% −0.16
WF Woori Financial-Spon ADR Sold out 0.00% −0.16
WPP WPP PLC-Sponsored ADR Sold out 0.00% −0.14
PSLV Sprott Physical Silver Trust Sold out 0.00% −0.13
XME SS SPDR S&P Metals Mining Sold out 0.00% −0.13
YPF YPF S.A.-Sponsored ADR Sold out 0.00% −0.12

Portfolio Buys Q3 2025 → Q4 2025
ASML ASML Holding NV-NY Reg SHS Add +311807.4% 4.70% +4.67
ITA iShares U.S. Aerospace & Def Add +198555.7% 4.43% +4.40
BBVA Banco Bilbao Vizcaya-SP ADR Add +8.9% 3.88% +3.61
DGRO iShares Core Dividend Growth Add +2076.9% 3.33% +3.28
GFI Gold Fields Ltd.-Spons ADR Add +30.9% 3.59% +3.24
MT Arcelormittal-NY Registered Add +11189.8% 3.16% +3.13
OMAB Grupo Aeroportuario Cen-ADR Add +4264.1% 3.12% +3.09
IDV iShares International Select Add +987.1% 3.08% +3.02
HSBC HSBC Holdings PLC-Spons ADR Add +187.1% 3.21% +2.98
AIA iShares Asia 50 ETF Add +2133.6% 3.04% +2.97
EWP iShares MSCI Spain ETF Add +1945.8% 2.80% +2.72
IHG Intercontinental Hotels-ADR Add +29.4% 2.96% +2.72
AU Anglogold Ashanti PLC Add +523.5% 2.97% +2.71
ASND Ascendis Pharma A/S Add +2241.0% 2.61% +2.43
COPX Global X Copper Miners ETF Add +466.5% 2.46% +2.38
AADR Advisorshares Dorsey Wright Add +1501.1% 2.42% +2.37
EWT iShares MSCI Taiwan ETF Add +872.6% 2.15% +2.07
AVGO Broadcom Inc. Add +156.2% 2.79% +1.80
CCU Cia Cervecerias Uni-Spon ADR Add +2684.2% 1.78% +1.75
BMA Banco Macro SA-ADR Add +813.0% 1.68% +1.56
DAVA Endava PLC- Spon ADR Add +301.1% 1.24% +1.20
EDU New Oriental Educatio-SP ADR Add +660.8% 1.29% +1.10
BIDU Baidu Inc. - Spon ADR Add +631.4% 1.21% +0.92
ETHE Grayscale Ethereum Staking E Add +601.6% 0.63% +0.48
EUAD Select Stoxx Eur Aer DE ETF Add +1203.8% 0.50% +0.42
LIT Global X Lithium & Battery T Add +855.9% 0.34% +0.30
CM Can Imperial BK of Commerce Add +1571.6% 0.32% +0.23
ILF iShares Latin America 40 ETF Add +700.0% 0.27% +0.21
QTUM Defiance Quantum ETF Add +1029.0% 0.30% +0.21
BABA Alibaba Group Holding-SP ADR Add +614.1% 0.28% +0.21
AXIAY Axia Energia-ADR Add +39.6% 0.24% +0.21
ESGE iShares Inc. iShares ESG Awar Add +709.1% 0.27% +0.18
EEM iShares MSCI Emerging Market Add +67.6% 0.25% +0.17
SIMO Silicon Motion Technol-ADR Add +1083.7% 0.21% +0.17
URA Global X Uranium ETF Add +424.9% 0.23% +0.16
PSO Pearson PLC-Sponsored ADR Add +545.3% 0.18% +0.15
MOMO Hello Group Inc. -SPN ADR Add +41.0% 0.17% +0.14
RELX Relx PLC - Spon ADR Add +561.9% 0.27% +0.13
SIL Global X Silver Miners ETF Add +319.7% 0.22% +0.11
CRTO Criteo SA-Spon Add +2730.7% 0.13% +0.11
AIRR First Trust Rba American Ind Add +650.0% 0.12% +0.09
E Eni SPA-Sponsored ADR Add +80.7% 0.12% +0.09
BEKE Ke Holdings Inc.-ADR Add +3734.6% 0.12% +0.08
GSK GSK PLC-Spon ADR Add +357.4% 0.11% +0.08
EZU iShares MSCI Eurozone ETF Add +216.1% 0.12% +0.08
EUFN iShares MSCI Europe Financia Add +72.9% 0.16% +0.07
EWS iShares MSCI Singapore ETF Add +10.8% 0.14% +0.06
GGAL Grupo Financiero Galicia-ADR Add +19.1% 0.10% +0.05
JD Jd.com Inc.-ADR Add +82.1% 0.23% +0.05
EPU iShares MSCI Peru and Global Add +34.0% 0.11% +0.04

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