Caldwell Investment Management Ltd.
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 14, 2026), Caldwell Investment Management Ltd. reported 57 stock positions worth $255.2 million. Its top holding was Morgan Stanley (MS) at 15.5% of the portfolio, followed by Cboe Global Markets (CBOE, 13.1%) and Miami International (MIAX, 9.8%). Compared with Q4 2025, it opened 36 new positions, sold out of 8, added to 2 and reduced 4. The biggest buy was a new position in Morgan Stanley (MS) and the biggest sale Miami International (MIAX, shares −10%).
- Most Recent 13F
- Q2 2026
- Location
- TORONTO, A6
- CIK
- 0001904373
- Portfolio Value
- $255.2M (Q1 2026)
- SEC Filing
- 0001904373-26-000002 ↗ filed May 14, 2026
Holdings Value
Holdings 57 stocks · $255.2M
| MS Morgan Stanley | 15.54% | 250,000 | $39.6M | New |
| CBOE Cboe Global Markets Inc. | 13.07% | 118,000 | $33.4M | No change |
| MIAX Miami International Holdings | 9.77% | 663,810 | $24.9M | Reduce -10.2% |
| KKR KKR & Co. Inc. | 7.09% | 200,000 | $18.1M | No change |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 6.49% | 350,000 | $16.6M | New |
| ICE Intercontinental Exchange Inc. | 6.16% | 100,000 | $15.7M | No change |
| EFXT Enerflex Ltd. | 3.31% | 411,000 | $8.4M | No change |
| C Citigroup Inc. | 3.16% | 75,000 | $8.1M | New |
| CVE Cenovus Energy Inc. | 3.03% | 290,800 | $7.7M | Add +162.4% |
| SII Sprott Inc. | 3.02% | 57,300 | $7.7M | New |
| AEM Agnico Eagle Mines Ltd. | 2.78% | 37,000 | $7.1M | Reduce -21.6% |
| KGC Kinross Gold Corp. | 1.91% | 170,300 | $4.9M | New |
| CCJ Cameco Corp. | 1.65% | 41,000 | $4.2M | No change |
| ELVA Electrovaya Inc. | 1.13% | 398,000 | $2.9M | No change |
| LHX L3HARRIS Technologies Inc. | 1.01% | 7,600 | $2.6M | New |
| RY Royal Bank of Canada | 0.97% | 15,600 | $2.5M | New |
| CLS Celestica Inc. | 0.90% | 8,900 | $2.3M | No change |
| OVV Ovintiv Inc. | 0.83% | 34,900 | $2.1M | New |
| PFE Pfizer Inc. | 0.82% | 75,000 | $2.1M | New |
| FIX Comfort Systems USA Inc. | 0.80% | 1,600 | $2.0M | New |
| MCK McKesson Corp. | 0.74% | 2,200 | $1.9M | No change |
| AMZN Amazon.com Inc. | 0.73% | 9,300 | $1.9M | No change |
| MSI Motorola Solutions Inc. | 0.70% | 4,200 | $1.8M | New |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.68% | 11,100 | $1.7M | New |
| CAE Cae Inc. | 0.66% | 66,100 | $1.7M | New |
| KLAC KLA Corp. | 0.65% | 1,200 | $1.7M | New |
| ATS Ats Corp. | 0.65% | 60,800 | $1.6M | No change |
| MSFT Microsoft Corp. | 0.63% | 4,500 | $1.6M | New |
| TMO Thermo Fisher Scientific Inc. | 0.62% | 3,300 | $1.6M | New |
| V Visa Inc. Class A | 0.60% | 5,100 | $1.5M | Add +4.1% |
| CW Curtiss-Wright Corp. | 0.60% | 2,400 | $1.5M | New |
| STN Stantec Inc. | 0.59% | 17,800 | $1.5M | New |
| HWM Howmet Aerospace Inc. | 0.56% | 6,400 | $1.4M | New |
| J Jacobs Solutions Inc. | 0.54% | 11,000 | $1.4M | No change |
| QUANTA SVCS INC | 0.46% | 2,200 | $1.2M | New |
| ROL Rollins Inc. | 0.46% | 22,000 | $1.2M | New |
| JPM JPMorgan Chase & Co. | 0.46% | 4,100 | $1.2M | Reduce -67.7% |
| CNI Canadian Natl Railway Co. | 0.43% | 10,800 | $1.1M | New |
| AROC Archrock Inc. | 0.43% | 31,500 | $1.1M | New |
| LRCX Lam Research Corp. | 0.42% | 5,400 | $1.1M | New |
| WWD Woodward Inc. | 0.40% | 3,000 | $1.0M | New |
| WMB Williams Cos Inc. | 0.40% | 14,000 | $1.0M | New |
| GIB Cgi Inc. | 0.37% | 12,910 | $937K | No change |
| IBKR Interactive Brokers Gro Class A | 0.35% | 13,900 | $886K | Reduce -48.7% |
| RMD Resmed Inc. | 0.35% | 4,000 | $881K | New |
| VRT Vertiv Holdings Co. Class A | 0.33% | 3,600 | $844K | New |
| WCN Waste Connections Inc. | 0.32% | 5,100 | $826K | New |
| APH Amphenol Corp. Class A | 0.32% | 6,800 | $811K | New |
| CACI Caci International Inc. Class A | 0.31% | 1,400 | $783K | New |
| NOW ServiceNow Inc. | 0.29% | 7,000 | $736K | No change |
| NVDA Nvidia Corp. | 0.29% | 4,400 | $728K | New |
| GOOGL Alphabet Inc. Class A | 0.27% | 2,500 | $685K | New |
| ACN Accenture PLC Class A | 0.25% | 3,200 | $633K | No change |
| SNPS Synopsys Inc. | 0.25% | 1,631 | $626K | New |
| HCA HCA Healthcare Inc. | 0.22% | 1,200 | $562K | New |
| FISV Fiserv Inc. | 0.16% | 7,300 | $399K | New |
| AMTM Amentum Holdings Inc. | 0.12% | 11,669 | $294K | No change |
Portfolio Sells Q4 2025 → Q1 2026
| MIAX Miami International Holdings | Reduce -10.2% | 9.77% | −10.97 |
| MFC Manulife Financial Corp. | Sold out | 0.00% | −2.36 |
| AEM Agnico Eagle Mines Ltd. | Reduce -21.6% | 2.78% | −2.20 |
| JPM JPMorgan Chase & Co. | Reduce -67.7% | 0.46% | −2.07 |
| BABA Alibaba Group Holding-SP ADR | Sold out | 0.00% | −1.81 |
| TFII Tfi International Inc. | Sold out | 0.00% | −0.91 |
| AVGO Broadcom Inc. | Sold out | 0.00% | −0.88 |
| IDCC Interdigital Inc. | Sold out | 0.00% | −0.78 |
| IBKR Interactive Brokers Gro Class A | Reduce -48.7% | 0.35% | −0.73 |
| TKO Tko Group Holdings Inc. | Sold out | 0.00% | −0.66 |
| PWR Quanta Services Inc. | Sold out | 0.00% | −0.58 |
| META Meta Platforms Inc. Class A | Sold out | 0.00% | −0.43 |
Portfolio Buys Q4 2025 → Q1 2026
| MS Morgan Stanley | New | 15.54% | +15.54 |
| BAC Bank of America Corp. | New | 6.49% | +6.49 |
| C Citigroup Inc. | New | 3.16% | +3.16 |
| SII Sprott Inc. | New | 3.02% | +3.02 |
| KGC Kinross Gold Corp. | New | 1.91% | +1.91 |
| CVE Cenovus Energy Inc. | Add +162.4% | 3.03% | +1.87 |
| LHX L3HARRIS Technologies Inc. | New | 1.01% | +1.01 |
| RY Royal Bank of Canada | New | 0.97% | +0.97 |
| OVV Ovintiv Inc. | New | 0.83% | +0.83 |
| PFE Pfizer Inc. | New | 0.82% | +0.82 |
| FIX Comfort Systems USA Inc. | New | 0.80% | +0.80 |
| MSI Motorola Solutions Inc. | New | 0.70% | +0.70 |
| TJX TJX Companies Inc. | New | 0.68% | +0.68 |
| CAE Cae Inc. | New | 0.66% | +0.66 |
| KLAC KLA Corp. | New | 0.65% | +0.65 |
| MSFT Microsoft Corp. | New | 0.63% | +0.63 |
| TMO Thermo Fisher Scientific Inc. | New | 0.62% | +0.62 |
| CW Curtiss-Wright Corp. | New | 0.60% | +0.60 |
| STN Stantec Inc. | New | 0.59% | +0.59 |
| HWM Howmet Aerospace Inc. | New | 0.56% | +0.56 |
| QUANTA SVCS INC | New | 0.46% | +0.46 |
| ROL Rollins Inc. | New | 0.46% | +0.46 |
| CNI Canadian Natl Railway Co. | New | 0.43% | +0.43 |
| AROC Archrock Inc. | New | 0.43% | +0.43 |
| LRCX Lam Research Corp. | New | 0.42% | +0.42 |
| WWD Woodward Inc. | New | 0.40% | +0.40 |
| WMB Williams Cos Inc. | New | 0.40% | +0.40 |
| RMD Resmed Inc. | New | 0.35% | +0.35 |
| VRT Vertiv Holdings Co. Class A | New | 0.33% | +0.33 |
| WCN Waste Connections Inc. | New | 0.32% | +0.32 |
| APH Amphenol Corp. Class A | New | 0.32% | +0.32 |
| CACI Caci International Inc. Class A | New | 0.31% | +0.31 |
| NVDA Nvidia Corp. | New | 0.29% | +0.29 |
| GOOGL Alphabet Inc. Class A | New | 0.27% | +0.27 |
| SNPS Synopsys Inc. | New | 0.25% | +0.25 |
| HCA HCA Healthcare Inc. | New | 0.22% | +0.22 |
| FISV Fiserv Inc. | New | 0.16% | +0.16 |
| V Visa Inc. Class A | Add +4.1% | 0.60% | +0.10 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 33 | $152.3M | CBOE, MIAX, BAC, KKR, ICE |
| Q1 2026 | 57 | $255.2M | MS, CBOE, MIAX, KKR, BAC |
| Q4 2025 | 29 | $162.6M | MIAX, CBOE, KKR, ICE, AEM |
| Q3 2025 | 26 | $152.4M | CBOE, MIAX, BANK OF AMERICA INC, ICE, AEM |
| Q2 2025 | 20 | $115.4M | CBOE, KKR, ICE, AEM, STN |
| Q1 2025 | 31 | $134.8M | CBOE, KKR, ICE, BAC, AEM |
| Q4 2024 | 34 | $148.3M | KKR, CBOE, BAC, ICE, AEM |
| Q3 2024 | 32 | $142.6M | KKR, CBOE, ICE, BAC, CLS |
| Q2 2024 | 33 | $132.9M | KKR, CBOE, BAC, ICE, CLS |
| Q1 2024 | 34 | $134.4M | CBOE, KKR, ICE, BAC, CLS |