Claret Asset Management Corp
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 13, 2025), Claret Asset Management Corp reported 402 stock positions worth $833.3 million. Its top holding was Berkshire Hathaway Class B (BRK.B) at 5.8% of the portfolio, followed by Cgi (GIB, 4.8%) and Meta Platforms Class A (META, 4.5%). Compared with Q2 2025, it opened 10 new positions, sold out of 39, added to 35 and reduced 330. The biggest buy was Indivior (INDV, shares +5%) and the biggest sale North American Construction (NOA, shares −1%).
- Most Recent 13F
- Q2 2026
- Location
- MONTREAL, A8
- CIK
- 0001735513
- Portfolio Value
- $833.3M (Q3 2025)
- SEC Filing
- 0001735513-25-000006 ↗ filed Nov 13, 2025
Holdings Value
Holdings 402 stocks · $833.3M
| BRK.B Berkshire Hathaway Inc. Class B | 5.79% | 95,893 | $48.2M | Add +0.4% |
| GIB Cgi Inc. | 4.80% | 449,418 | $40.0M | Add +8.2% |
| META Meta Platforms Inc. Class A | 4.47% | 50,734 | $37.3M | Reduce -1.6% |
| GOOGL Alphabet Inc. Class A | 4.43% | 151,859 | $36.9M | Reduce -0.7% |
| MSFT Microsoft Corp. | 4.20% | 67,529 | $35.0M | Reduce -1.0% |
| OLLI Ollie's Bargain Outlet Holdi | 3.72% | 241,104 | $31.0M | Reduce -1.0% |
| ULTA Ulta Beauty Inc. | 3.54% | 53,986 | $29.5M | Reduce -1.1% |
| AAPL Apple Inc. | 3.50% | 114,427 | $29.1M | Reduce -1.8% |
| NOA North American Construction | 3.48% | 2,041,935 | $29.0M | Reduce -1.1% |
| ABBV Abbvie Inc. | 3.30% | 118,880 | $27.5M | Reduce -3.1% |
| OCSL Oaktree Specialty Lending Co. | 2.65% | 1,693,224 | $22.1M | Reduce -0.4% |
| CVS CVS Health Corp. | 2.65% | 292,394 | $22.0M | Reduce -1.4% |
| INDV Indivior Ltd. | 2.27% | 784,588 | $18.9M | Add +5.4% |
| RY Royal Bank of Canada | 2.20% | 124,490 | $18.3M | Reduce -1.5% |
| UI Ubiquiti Inc. | 2.02% | 25,526 | $16.9M | Reduce -1.1% |
| CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BANK OF CO | 1.43% | 149,406 | $11.9M | Reduce -2.8% |
| CTSH Cognizant Tech Solutions-A | 1.42% | 176,597 | $11.8M | Reduce -1.7% |
| CSCO Cisco Systems Inc. | 1.40% | 169,975 | $11.6M | Reduce -0.7% |
| BMO Bank of Montreal filed as BANK MONTREAL QUE | 1.38% | 88,552 | $11.5M | Add +0.1% |
| JNJ Johnson & Johnson | 1.33% | 59,855 | $11.1M | Reduce -2.1% |
| GOOG Alphabet Inc. Class C | 1.28% | 43,813 | $10.7M | Reduce -0.9% |
| QIPT Quipt Home Medical Corp. | 1.24% | 3,958,673 | $10.3M | Reduce -6.5% |
| TD Toronto-Dominion Bank | 1.19% | 124,209 | $9.9M | Reduce -2.0% |
| MRK Merck & Co. Inc. | 1.14% | 113,461 | $9.5M | Add +117.5% |
| C Citigroup Inc. | 1.08% | 88,474 | $9.0M | Reduce -24.1% |
| BMY Bristol-Myers Squibb Co. | 1.02% | 189,125 | $8.5M | Add +1.5% |
| NVO Novo-Nordisk A/S-Spons ADR | 0.97% | 144,998 | $8.0M | Add +376.5% |
| CNI Canadian Natl Railway Co. | 0.88% | 77,910 | $7.3M | Add +362.9% |
| WRN Western Copper and Gold Corp. | 0.88% | 3,698,800 | $7.3M | No change |
| PFE Pfizer Inc. | 0.87% | 283,977 | $7.2M | Reduce -8.0% |
| PYPL PayPal Holdings Inc. | 0.85% | 105,278 | $7.1M | Reduce -1.6% |
| BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA HALIFAX | 0.82% | 105,125 | $6.8M | Reduce -4.2% |
| NVDA Nvidia Corp. | 0.79% | 35,271 | $6.6M | Add +0.3% |
| BA The Boeing Co. | 0.72% | 27,912 | $6.0M | Reduce -2.0% |
| WMT Walmart Inc. | 0.71% | 57,806 | $6.0M | Reduce -5.3% |
| TSCO Tractor Supply Company | 0.70% | 102,224 | $5.8M | Reduce -10.3% |
| SHEL Shell PLC-ADR | 0.69% | 80,964 | $5.8M | Reduce -8.6% |
| BCE Bce Inc. | 0.69% | 245,784 | $5.7M | Reduce -4.1% |
| QCOM Qualcomm Inc. | 0.68% | 34,078 | $5.7M | Reduce -2.3% |
| COST Costco Wholesale Corp. | 0.63% | 5,677 | $5.3M | Add +10.8% |
| TU Telus Corp. | 0.55% | 290,317 | $4.6M | Add +3.1% |
| SAIC Science Applications Inte | 0.49% | 41,092 | $4.1M | Reduce -9.5% |
| DLTR Dollar Tree Inc. | 0.48% | 42,543 | $4.0M | Reduce -0.3% |
| NGD New Gold Inc. | 0.47% | 550,000 | $3.9M | No change |
| ARIS Aris Mining Corp. filed as ARIS MNG CORP | 0.45% | 385,398 | $3.8M | New |
| ESI Element Solutions Inc. | 0.45% | 149,839 | $3.8M | Reduce -3.6% |
| MCK McKesson Corp. | 0.41% | 4,434 | $3.4M | Reduce -3.3% |
| CAH Cardinal Health Inc. | 0.40% | 21,129 | $3.3M | Reduce -0.5% |
| ISRG Intuitive Surgical Inc. | 0.35% | 6,607 | $3.0M | Add +10.7% |
| NVT Nvent Electric PLC | 0.35% | 29,720 | $2.9M | Reduce -3.3% |
| MFC Manulife Financial Corp. | 0.33% | 88,015 | $2.7M | Reduce -0.2% |
| PSKY Paramount Skydance Class B | 0.31% | 136,013 | $2.6M | New |
| CCJ Cameco Corp. | 0.29% | 29,054 | $2.4M | No change |
| CAE Cae Inc. | 0.29% | 81,649 | $2.4M | Reduce -0.6% |
| GWRS Global Water Resources Inc. | 0.28% | 228,077 | $2.3M | Reduce -6.8% |
| CLS Celestica Inc. | 0.28% | 9,482 | $2.3M | Reduce -31.4% |
| KVUE Kenvue Inc. | 0.26% | 133,537 | $2.2M | No change |
| NEM Newmont Corp. | 0.23% | 22,988 | $1.9M | Reduce -1.8% |
| SHW The Sherwin-Williams Co. | 0.23% | 5,463 | $1.9M | Reduce -0.2% |
| STN Stantec Inc. | 0.22% | 17,319 | $1.9M | Reduce -1.2% |
| PHYS Sprott Physical Gold Trust | 0.22% | 61,400 | $1.8M | No change |
| AEM Agnico Eagle Mines Ltd. | 0.22% | 10,759 | $1.8M | No change |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.22% | 2,717 | $1.8M | Reduce -2.9% |
| ICLN iShares Global Clean Energy | 0.22% | 115,800 | $1.8M | No change |
| CP Canadian Pacific Kansas City | 0.21% | 24,051 | $1.8M | Reduce -0.6% |
| MDT Medtronic PLC | 0.20% | 17,603 | $1.7M | Reduce -5.5% |
| TTWO Take-Two Interactive Softwre | 0.19% | 6,089 | $1.6M | Add +4.5% |
| AMGN Amgen Inc. | 0.17% | 5,001 | $1.4M | Reduce -7.9% |
| KO The Coca-Cola Co. | 0.17% | 20,964 | $1.4M | Reduce -3.6% |
| OTEX Open Text Corp. | 0.16% | 35,434 | $1.3M | Add +14.6% |
| V Visa Inc. Class A | 0.15% | 3,701 | $1.3M | Reduce -13.2% |
| PBA Pembina Pipeline Corp. | 0.15% | 31,215 | $1.3M | Add +0.2% |
| TIXT Telus International Cda Inc. | 0.15% | 274,779 | $1.2M | Add +22.2% |
| GOOS Canada Goose Holdings Inc. | 0.14% | 86,614 | $1.2M | No change |
| TAP Molson Coors Beverage Co. Class B | 0.14% | 25,740 | $1.2M | Add +10.3% |
| NPK National Presto Inds Inc. | 0.14% | 10,185 | $1.1M | Reduce -3.6% |
| TFII Tfi International Inc. | 0.13% | 12,317 | $1.1M | No change |
| TSLA Tesla Inc. | 0.13% | 2,425 | $1.1M | Reduce -0.4% |
| ZBH Zimmer Biomet Holdings Inc. | 0.13% | 10,946 | $1.1M | Reduce -6.6% |
| RBA RB Global Inc. | 0.12% | 9,420 | $1.0M | Reduce -0.8% |
| WCN Waste Connections Inc. | 0.12% | 5,662 | $995K | Add +0.8% |
| DENN Denny's Corp. | 0.12% | 186,308 | $974K | Reduce -19.6% |
| ORCL Oracle Corp. | 0.12% | 3,450 | $970K | Reduce -7.3% |
| DCBO Docebo Inc. | 0.11% | 35,062 | $957K | New |
| OR Or Royalties Inc. | 0.11% | 22,867 | $916K | No change |
| DSGX The Descartes Systems Grp | 0.11% | 9,704 | $914K | No change |
| JPM JPMorgan Chase & Co. | 0.10% | 2,730 | $861K | Reduce -4.0% |
| IQV Iqvia Holdings Inc. | 0.10% | 4,527 | $860K | Add +1.1% |
| LOW Lowe's Cos Inc. | 0.10% | 3,319 | $834K | Reduce -0.5% |
| SANG Sangoma Technologies Corp. | 0.10% | 166,975 | $829K | Add +8.5% |
| VGT Vanguard Info Tech ETF | 0.10% | 1,088 | $812K | No change |
| IAG Iamgold Corp. | 0.09% | 60,350 | $780K | Add +1.1% |
| MA Mastercard Inc. Class A | 0.09% | 1,326 | $754K | Add +3.6% |
| HRB H&R Block Inc. filed as BLOCK H & R INC | 0.09% | 14,714 | $744K | Reduce -1.1% |
| ZM Zoom Communications Inc. | 0.09% | 8,942 | $738K | Reduce -0.5% |
| ENB Enbridge Inc. | 0.09% | 14,601 | $737K | Reduce -3.0% |
| AMZN Amazon.com Inc. | 0.09% | 3,343 | $734K | Add +8.4% |
| SHOP Shopify Inc. Class A | 0.08% | 4,508 | $670K | Reduce -69.1% |
| UHAL.B U-Haul Holding Co.-Non Voting | 0.08% | 13,145 | $669K | No change |
| TAC Transalta Corp. | 0.08% | 47,602 | $650K | Reduce -0.0% |
Other holdings (5): bonds, preferreds, convertibles and warrants · $6.1M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| CABLE ONE INC (CABO 1.125 03/15/28) | NOTE 1.125% 3/1 · principal | 3,000,000 | $2.6M | New |
| BLACKBERRY LTD (BBCN 3 02/15/29) | NOTE 3.000% 2/1 · principal | 1,500,000 | $2.2M | No change |
| FIRST MAJESTIC SILVER (AGCN 0.375 01/15/27) | NOTE 0.375% 1/1 · principal | 985,000 | $1.1M | No change |
| CHEGG INC (CHGG 0 09/01/26) | NOTE 9/0 · principal | 300,000 | $234K | No change |
| ASTLW Algoma Steel Group Inc. -CW26 | *W EXP 10/19/202 | 102,000 | $16K | No change |
Total filed on the 13F, all lines: $839.4M.
Portfolio Sells Q2 2025 → Q3 2025
| NOA North American Construction | Reduce -1.1% | 3.48% | −0.82 |
| META Meta Platforms Inc. Class A | Reduce -1.6% | 4.47% | −0.48 |
| OLLI Ollie's Bargain Outlet Holdi | Reduce -1.0% | 3.72% | −0.46 |
| CTSH Cognizant Tech Solutions-A | Reduce -1.7% | 1.42% | −0.40 |
| OCSL Oaktree Specialty Lending Co. | Reduce -0.4% | 2.65% | −0.37 |
| PARAA Paramount Global Class B | Sold out | 0.00% | −0.24 |
| MSFT Microsoft Corp. | Reduce -1.0% | 4.20% | −0.22 |
| C Citigroup Inc. | Reduce -24.1% | 1.08% | −0.21 |
| PYPL PayPal Holdings Inc. | Reduce -1.6% | 0.85% | −0.19 |
| SAIC Science Applications Inte | Reduce -9.5% | 0.49% | −0.18 |
| BKE The Buckle Inc. | Sold out | 0.00% | −0.17 |
| CSCO Cisco Systems Inc. | Reduce -0.7% | 1.40% | −0.15 |
| SHOP Shopify Inc. Class A | Reduce -69.1% | 0.08% | −0.14 |
| SHEL Shell PLC-ADR | Reduce -8.6% | 0.69% | −0.12 |
| PFE Pfizer Inc. | Reduce -8.0% | 0.87% | −0.11 |
| TSCO Tractor Supply Company | Reduce -10.3% | 0.70% | −0.09 |
| DLTR Dollar Tree Inc. | Reduce -0.3% | 0.48% | −0.07 |
| CAH Cardinal Health Inc. | Reduce -0.5% | 0.40% | −0.07 |
| WMT Walmart Inc. | Reduce -5.3% | 0.71% | −0.06 |
| BA The Boeing Co. | Reduce -2.0% | 0.72% | −0.05 |
| BCE Bce Inc. | Reduce -4.1% | 0.69% | −0.05 |
| V Visa Inc. Class A | Reduce -13.2% | 0.15% | −0.05 |
| QCOM Qualcomm Inc. | Reduce -2.3% | 0.68% | −0.04 |
| GWRS Global Water Resources Inc. | Reduce -6.8% | 0.28% | −0.04 |
| EWZ iShares MSCI Brazil ETF | Sold out | 0.00% | −0.04 |
| MFC Manulife Financial Corp. | Reduce -0.2% | 0.33% | −0.04 |
| CP Canadian Pacific Kansas City | Reduce -0.6% | 0.21% | −0.04 |
| VRSK Verisk Analytics Inc. | Sold out | 0.00% | −0.03 |
| LULU Lululemon Athletica Inc. | Sold out | 0.00% | −0.03 |
| KO The Coca-Cola Co. | Reduce -3.6% | 0.17% | −0.03 |
| FISV Fiserv Inc. | Sold out | 0.00% | −0.03 |
| TTD Trade Desk Inc./the Class A | Sold out | 0.00% | −0.03 |
| IT Gartner Inc. | Sold out | 0.00% | −0.03 |
| CHTR Charter Communications Inc. Class A | Sold out | 0.00% | −0.03 |
| FDS Factset Research Systems Inc. | Sold out | 0.00% | −0.03 |
| CMG Chipotle Mexican Grill Inc. | Sold out | 0.00% | −0.03 |
| DXCM Dexcom Inc. | Sold out | 0.00% | −0.03 |
| MKTX Marketaxess Holdings Inc. | Sold out | 0.00% | −0.03 |
| PREMIER INC-CLASS A | Sold out | 0.00% | −0.03 |
| ANSS Ansys Inc. | Sold out | 0.00% | −0.03 |
| FOUR SHIFT4 Payments Inc. Class A | Sold out | 0.00% | −0.03 |
| ALGN Align Technology Inc. | Sold out | 0.00% | −0.03 |
| AMED Amedisys Inc. | Sold out | 0.00% | −0.03 |
| FIS Fidelity National Info Serv | Sold out | 0.00% | −0.03 |
| IRDM Iridium Communications Inc. | Sold out | 0.00% | −0.03 |
| ALGM Allegro Microsystems Inc. | Sold out | 0.00% | −0.03 |
| GDDY GoDaddy Inc. Class A | Sold out | 0.00% | −0.03 |
| MORN Morningstar Inc. | Sold out | 0.00% | −0.03 |
| BBWI Bath & Body Works Inc. | Sold out | 0.00% | −0.03 |
| DAR Darling Ingredients Inc. | Sold out | 0.00% | −0.03 |
Portfolio Buys Q2 2025 → Q3 2025
| INDV Indivior Ltd. | Add +5.4% | 2.27% | +0.84 |
| NVO Novo-Nordisk A/S-Spons ADR | Add +376.5% | 0.97% | +0.69 |
| CNI Canadian Natl Railway Co. | Add +362.9% | 0.88% | +0.65 |
| MRK Merck & Co. Inc. | Add +117.5% | 1.14% | +0.61 |
| ARIS Aris Mining Corp. | New | 0.45% | +0.45 |
| PSKY Paramount Skydance Class B | New | 0.31% | +0.31 |
| DCBO Docebo Inc. | New | 0.11% | +0.11 |
| BMO Bank of Montreal | Add +0.1% | 1.38% | +0.11 |
| NVDA Nvidia Corp. | Add +0.3% | 0.79% | +0.07 |
| OTEX Open Text Corp. | Add +14.6% | 0.16% | +0.04 |
| TIXT Telus International Cda Inc. | Add +22.2% | 0.15% | +0.04 |
| HALO Halozyme Therapeutics Inc. | New | 0.04% | +0.04 |
| IAG Iamgold Corp. | Add +1.1% | 0.09% | +0.04 |
| WW WW International Inc.-New | New | 0.03% | +0.03 |
| CORT Corcept Therapeutics Inc. | New | 0.03% | +0.03 |
| AIT Applied Industrial Tech Inc. | New | 0.03% | +0.03 |
| CHWY Chewy Inc. Class A | New | 0.03% | +0.03 |
| EXLS Exlservice Holdings Inc. | New | 0.03% | +0.03 |
| QQQ Invesco QQQ Trust Series 1 | Add +84.3% | 0.06% | +0.03 |
| FTV Fortive Corp. | New | 0.03% | +0.03 |
| IQV Iqvia Holdings Inc. | Add +1.1% | 0.10% | +0.01 |
| SNPS Synopsys Inc. | Add +47.0% | 0.04% | +0.01 |
| AVGO Broadcom Inc. | Add +10.3% | 0.05% | +0.01 |
| TTWO Take-Two Interactive Softwre | Add +4.5% | 0.19% | +0.00 |
| BAC Bank of America Corp. | Add +13.0% | 0.03% | +0.00 |
| TMO Thermo Fisher Scientific Inc. | Add +1.2% | 0.03% | +0.00 |
| AZO AutoZone Inc. | Add +1.5% | 0.04% | +0.00 |
| AMZN Amazon.com Inc. | Add +8.4% | 0.09% | −0.00 |
| PANW Palo Alto Networks Inc. | Add +7.0% | 0.04% | −0.00 |
| PBA Pembina Pipeline Corp. | Add +0.2% | 0.15% | −0.00 |
| MA Mastercard Inc. Class A | Add +3.6% | 0.09% | −0.00 |
| MCO Moody's Corp. | Add +2.4% | 0.03% | −0.00 |
| BSX Boston Scientific Corp. | Add +4.4% | 0.03% | −0.00 |
| NOW ServiceNow Inc. | Add +3.4% | 0.03% | −0.01 |
| TAP Molson Coors Beverage Co. Class B | Add +10.3% | 0.14% | −0.01 |
| FTNT Fortinet Inc. | Add +8.0% | 0.03% | −0.01 |
| SLF Sun Life Financial Inc. | Add +5.5% | 0.06% | −0.01 |
| WCN Waste Connections Inc. | Add +0.8% | 0.12% | −0.02 |
| SANG Sangoma Technologies Corp. | Add +8.5% | 0.10% | −0.02 |
| COST Costco Wholesale Corp. | Add +10.8% | 0.63% | −0.03 |
| TU Telus Corp. | Add +3.1% | 0.55% | −0.04 |
| ISRG Intuitive Surgical Inc. | Add +10.7% | 0.35% | −0.07 |
| BMY Bristol-Myers Squibb Co. | Add +1.5% | 1.02% | −0.10 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +0.4% | 5.79% | −0.26 |
| GIB Cgi Inc. | Add +8.2% | 4.80% | −0.87 |
Notes & Other Activity Q2 2025 → Q3 2025
| CABLE ONE INC (CABO 1.125 03/15/28) | NOTE 1.125% 3/1 · principal | New | 3,000,000 | $2.6M |
| SOLAR EDGE TECHNOLOGIES (SEDG 0 09/15/25) | NOTE 9/1 · principal | Sold out | 1,000,000 | $978Kbefore exit |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 492 | $919.2M | GOOGL, BRK.B, GIB, AAPL, CVS |
| Q1 2026 | 349 | $831.0M | BRK.B, GOOGL, GIB, AAPL, META |
| Q4 2025 | 378 | $855.5M | BRK.B, GOOGL, GIB, META, MSFT |
| Q3 2025 | 402 | $833.3M | BRK.B, GIB, META, GOOGL, MSFT |
| Q2 2025 | 431 | $768.0M | BRK.B, GIB, META, MSFT, NOA |
| Q1 2025 | 210 | $503.7M | BRK.B, NOA, OLLI, AAPL, ABBV |
| Q4 2024 | 303 | $631.3M | NOA, GIB, META, GOOGL, MSFT |
| Q3 2024 | 333 | $609.7M | GIB, NOA, META, MSFT, ABBV |
| Q2 2024 | 248 | $559.6M | GIB, NOA, MSFT, GOOGL, META |
| Q1 2024 | 210 | $593.6M | NOA, GIB, MSFT, META, ABBV |