Ewing Morris & Co. Investment Partners Ltd.

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Ewing Morris & Co. Investment Partners Ltd. reported 93 stock positions worth $233.2 million. Its top holding was Compass Minerals Internation (CMP) at 12.5% of the portfolio, followed by Bandwidth Inc. (band 0.5 04/01/28) (4.3%) and Stoneridge (SRI, 3.6%). Compared with Q2 2025, it opened 24 new positions, sold out of 24, added to 23 and reduced 28. The biggest buy was Compass Minerals Internation (CMP, shares +30%) and the biggest sale RAPID7 Inc. (rpd 0.25 03/15/27) (shares −49%).

Most Recent 13F
Q2 2026
Location
TORONTO, Z4
CIK
0001846838
Portfolio Value
$233.2M (Q3 2025)
SEC Filing
0001405086-25-000360 ↗ filed Nov 14, 2025

Holdings Value

0$100.0M$200.0M$300.0M$400.0M Q1 2024: $220.1M Q1 2024 Q2 2024: $157.3M Q2 2024 Q3 2024: $206.8M Q3 2024 Q4 2024: $289.9M Q4 2024 Q1 2025: $316.8M Q1 2025 Q2 2025: $221.8M Q2 2025 Q3 2025: $233.2M $233.2M Q3 2025 Q4 2025: $228.5M Q4 2025 Q1 2026: $221.3M Q1 2026 Q2 2026: $191.0M Q2 2026

Holdings 93 stocks · $233.2M
CMP Compass Minerals Internation 12.45% 1,669,500 $29.0M Add +30.4%
BANDWIDTH INC (BAND 0.5 04/01/28) 4.27% 11,600,000 $10.0M Reduce -30.1%
SRI Stoneridge Inc. 3.63% 1,336,204 $8.5M Add +9.1%
EVOLENT HEALTH INC (EVH 3.5 12/01/29) 3.52% 10,000,000 $8.2M No change
IVV iShares Core S&P 500 ETF 3.49% 12,161 $8.1M Add +24.4%
SWIM Latham Group Inc. 2.75% 841,342 $6.4M Reduce -21.0%
FIVE9 INC (FIVN 1 03/15/29) 2.67% 7,000,000 $6.2M Add +133.3%
IQLT iShares MSCI International Q 2.65% 139,933 $6.2M Add +8.6%
DRVN Driven Brands Holdings Inc. 2.64% 382,167 $6.2M No change
RAPID7 INC (RPD 0.25 03/15/27) 2.54% 6,302,000 $5.9M Reduce -48.8%
GSHD Goosehead Insurance Inc. Class A 2.50% 78,396 $5.8M Add +21.7%
GLD SPDR Gold Shares 2.46% 16,129 $5.7M Add +46.8%
BLACKLINE INC (BL 1 06/01/29) 2.23% 5,000,000 $5.2M New
CABLE ONE INC (CABO 1.125 03/15/28) 2.22% 6,000,000 $5.2M No change
JBTM JBT Marel Corp. 2.21% 36,651 $5.1M Add +24.9%
XOMETRY INC (XMTR 1 02/01/27) 2.12% 4,100,000 $5.0M No change
QQQ Invesco QQQ Trust Series 1 1.93% 7,473 $4.5M Add +2.2%
RY Royal Bank of Canada 1.89% 29,972 $4.4M Add +0.9%
TD Toronto-Dominion Bank 1.88% 54,725 $4.4M Reduce -0.9%
RAPID7 INC (RPD 1.25 03/15/29) 1.81% 4,600,000 $4.2M No change
ZIFF DAVIS INC (ZD 3.625 03/01/28) 1.66% 4,000,000 $3.9M No change
WMS Advanced Drainage Systems Inc. 1.66% 27,873 $3.9M Reduce -18.5%
GOGO Gogo Inc. 1.64% 446,520 $3.8M Add +46.8%
SNAP INC (SNAP 0.125 03/01/28) 1.54% 4,000,000 $3.6M Reduce -33.3%
BMO Bank of Montreal filed as BANK MONTREAL QUE 1.51% 26,979 $3.5M Add +0.3%
FTS Fortis Inc. 1.40% 64,268 $3.3M Reduce -7.1%
EFXT Enerflex Ltd. 1.39% 300,000 $3.2M Add +36.4%
IBIT iShares Bitcoin Trust ETF 1.28% 46,063 $3.0M Reduce -16.5%
SNDL SNDL Inc. 1.09% 951,222 $2.5M New
MSTR Strategy Inc. 1.04% 7,544 $2.4M Reduce -20.0%
STIP iShares 0-5 Year Tips Bond E 1.04% 23,493 $2.4M Add +6.5%
FUL H.B. Fuller Co. filed as FULLER H B CO 1.02% 40,000 $2.4M New
ZD Ziff Davis Inc. 0.97% 59,536 $2.3M Add +15.3%
HOOD Robinhood Markets Inc. Class A 0.95% 15,409 $2.2M New
TSLA Tesla Inc. 0.95% 4,960 $2.2M New
TRP TC Energy Corp. 0.90% 38,364 $2.1M Add +1.1%
EVGO Evgo Inc. 0.85% 420,000 $2.0M No change
SANG Sangoma Technologies Corp. 0.82% 383,954 $1.9M Reduce -18.8%
ETSY INC (ETSY 0.25 06/15/28) 0.76% 2,000,000 $1.8M No change
ASTL Algoma Steel Group Inc. 0.75% 490,000 $1.7M Add +25.6%
LION Lionsgate Studios Corp. 0.74% 250,000 $1.7M New
ENB Enbridge Inc. 0.71% 32,934 $1.7M Reduce -9.9%
SPXC SPX Technologies Inc. 0.69% 8,612 $1.6M Reduce -28.9%
BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA HALIFAX 0.65% 23,403 $1.5M Reduce -6.4%
CNQ Canadian Natural Resources 0.53% 37,951 $1.2M Reduce -3.0%
SPY SS SPDR S&P 500 ETF Trust-US 0.52% 1,803 $1.2M Reduce -22.9%
GE General Electric filed as GE AEROSPACE 0.51% 3,982 $1.2M New
IWM iShares Russell 2000 ETF 0.51% 4,873 $1.2M New
ITA iShares U.S. Aerospace & Def 0.48% 5,363 $1.1M New
ACWI iShares MSCI Acwi ETF 0.47% 8,000 $1.1M No change
MTCH Match Group Inc. 0.46% 30,186 $1.1M No change
ACB Aurora Cannabis Inc. 0.45% 175,000 $1.0M New
FSV Firstservice Corp. 0.42% 5,126 $978K Reduce -52.0%
MSFT Microsoft Corp. 0.40% 1,806 $935K Reduce -49.9%
HITI High Tide Inc. 0.38% 240,000 $875K New
WPM Wheaton Precious Metals Corp. 0.36% 7,600 $851K Reduce -37.2%
CLS Celestica Inc. 0.35% 3,325 $818K Reduce -21.1%
ORLA Orla Mining Ltd. filed as ORLA MNG LTD NEW 0.33% 71,000 $766K No change
BRK.B Berkshire Hathaway Inc. Class B 0.30% 1,413 $710K No change
IEF iShares 7-10 Year Treasury B 0.30% 7,271 $701K Reduce -17.5%
GOOG Alphabet Inc. Class C 0.29% 2,742 $668K Reduce -34.6%
CRON Cronos Group Inc. 0.28% 240,000 $664K New
SHY iShares 1-3 Year Treasury Bo 0.26% 7,305 $606K Add +4.5%
RGLD Royal Gold Inc. 0.25% 2,915 $585K New
USMV iShares MSCI USA Min Vol Fac 0.24% 6,000 $571K Add +7.1%
SLSR Solaris Resources Inc. 0.24% 87,100 $556K No change
CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BANK OF CO 0.23% 6,593 $532K Add +0.1%
JPM JPMorgan Chase & Co. 0.22% 1,619 $511K Reduce -2.2%
AMZN Amazon.com Inc. 0.21% 2,279 $500K Add +1.8%
TRIP Tripadvisor Inc. 0.21% 29,700 $483K No change
AAPL Apple Inc. 0.19% 1,773 $451K Reduce -3.3%
TRI Thomson Reuters Corp. 0.19% 2,872 $446K New
VFF Village Farms International 0.19% 139,736 $437K New
CP Canadian Pacific Kansas City 0.18% 5,766 $430K Add +3.1%
CNI Canadian Natl Railway Co. 0.18% 4,486 $423K Reduce -2.3%
BIP Brookfield Infrastructure Pa 0.16% 11,571 $381K Reduce -35.1%
V Visa Inc. Class A 0.16% 1,111 $379K No change
TLN Talen Energy Corp. 0.16% 875 $372K New
MFC Manulife Financial Corp. 0.14% 10,541 $328K Add +0.6%
SU Suncor Energy Inc. 0.12% 6,898 $289K Reduce -1.3%
OR Or Royalties Inc. 0.12% 6,885 $276K New
EMA Emera Inc. 0.12% 5,725 $275K No change
SA Seabridge Gold Inc. 0.11% 11,100 $268K Reduce -8.3%
NFLX Netflix Inc. 0.11% 208 $249K No change
SLF Sun Life Financial Inc. 0.10% 4,061 $244K No change
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.10% 2,200 $240K New
GDX Vaneck Gold Miners ETF 0.10% 3,100 $237K New
APH Amphenol Corp. Class A 0.10% 1,900 $235K Reduce -59.6%
EME Emcor Group Inc. 0.10% 350 $227K New
BCE Bce Inc. 0.09% 9,162 $217K New
ZYME Zymeworks Inc. 0.08% 10,850 $185K New
VSTS Vestis Corp. 0.05% 27,000 $122K New
ALM Almonty Industries Inc. 0.04% 14,216 $86K New
Other holdings (1): bonds, preferreds, convertibles and warrants · $847K (not counted above)
SecurityClassShares / PrincipalValueChange
STRATEGY INC (MSTR 8 PERP) SERIES A PERP PF 9,241$847KAdd +3.8%

Total filed on the 13F, all lines: $234.0M.

Portfolio Sells Q2 2025 → Q3 2025
RAPID7 INC (RPD 0.25 03/15/27) Reduce -48.8% 2.54% −2.61
BANDWIDTH INC (BAND 0.5 04/01/28) Reduce -30.1% 4.27% −2.04
SNAP INC (SNAP 0.125 03/01/28) Reduce -33.3% 1.54% −0.81
GT Goodyear Tire & Rubber Co. Sold out 0.00% −0.74
MSTR Strategy Inc. Reduce -20.0% 1.04% −0.68
HWM Howmet Aerospace Inc. Sold out 0.00% −0.59
INTU Intuit Inc. Sold out 0.00% −0.58
NET Cloudflare Inc. Class A Sold out 0.00% −0.56
NVDA Nvidia Corp. Sold out 0.00% −0.53
AVGO Broadcom Inc. Sold out 0.00% −0.52
SANG Sangoma Technologies Corp. Reduce -18.8% 0.82% −0.50
JCI Johnson Controls Internation Sold out 0.00% −0.48
RPRX Royalty Pharma PLC Class A Sold out 0.00% −0.46
DRS Leonardo DRS Inc. Sold out 0.00% −0.46
ATS Ats Corp. Sold out 0.00% −0.45
BWXT BWX Technologies Inc. Sold out 0.00% −0.45
OKTA INC (OKTA 0.125 09/01/25) Sold out 0.00% −0.45
FSV Firstservice Corp. Reduce -52.0% 0.42% −0.42
MSFT Microsoft Corp. Reduce -49.9% 0.40% −0.41
SWIM Latham Group Inc. Reduce -21.0% 2.75% −0.32
PFO Flaherty & Crumrine P&I Opp Sold out 0.00% −0.32
ZS Zscaler Inc. Sold out 0.00% −0.31
IBIT iShares Bitcoin Trust ETF Reduce -16.5% 1.28% −0.24
SPXC SPX Technologies Inc. Reduce -28.9% 0.69% −0.23
ALNY Alnylam Pharmaceuticals Inc. Sold out 0.00% −0.21
AXS Axis Capital Holdings Ltd. Sold out 0.00% −0.21
LMB Limbach Holdings Inc. Sold out 0.00% −0.20
PAR Par Technology Corp. Sold out 0.00% −0.19
BAC Bank of America Corp. Sold out 0.00% −0.16
GS Goldman Sachs Group Inc. Sold out 0.00% −0.15
HD Home Depot Inc. Sold out 0.00% −0.14
SPY SS SPDR S&P 500 ETF Trust-US Reduce -22.9% 0.52% −0.14
WPM Wheaton Precious Metals Corp. Reduce -37.2% 0.36% −0.12
ZTS Zoetis Inc. Sold out 0.00% −0.12
SPGI S&P Global Inc. Sold out 0.00% −0.12
AXON Axon Enterprise Inc. Sold out 0.00% −0.12
WMS Advanced Drainage Systems Inc. Reduce -18.5% 1.66% −0.11
APH Amphenol Corp. Class A Reduce -59.6% 0.10% −0.11
BIP Brookfield Infrastructure Pa Reduce -35.1% 0.16% −0.11
FTS Fortis Inc. Reduce -7.1% 1.40% −0.09
IEF iShares 7-10 Year Treasury B Reduce -17.5% 0.30% −0.08
GOOG Alphabet Inc. Class C Reduce -34.6% 0.29% −0.05
CNI Canadian Natl Railway Co. Reduce -2.3% 0.18% −0.03
CNQ Canadian Natural Resources Reduce -3.0% 0.53% −0.03
ENB Enbridge Inc. Reduce -9.9% 0.71% −0.03
JPM JPMorgan Chase & Co. Reduce -2.2% 0.22% +0.00
SU Suncor Energy Inc. Reduce -1.3% 0.12% +0.01
AAPL Apple Inc. Reduce -3.3% 0.19% +0.02
BNS Bank of Nova Scotia Reduce -6.4% 0.65% +0.03
SA Seabridge Gold Inc. Reduce -8.3% 0.11% +0.04

Portfolio Buys Q2 2025 → Q3 2025
CMP Compass Minerals Internation Add +30.4% 12.45% +2.32
BLACKLINE INC (BL 1 06/01/29) New 2.23% +2.23
FIVE9 INC (FIVN 1 03/15/29) Add +133.3% 2.67% +1.48
SNDL SNDL Inc. New 1.09% +1.09
FUL H.B. Fuller Co. New 1.02% +1.02
GLD SPDR Gold Shares Add +46.8% 2.46% +0.95
HOOD Robinhood Markets Inc. Class A New 0.95% +0.95
TSLA Tesla Inc. New 0.95% +0.95
IVV iShares Core S&P 500 ETF Add +24.4% 3.49% +0.75
LION Lionsgate Studios Corp. New 0.74% +0.74
JBTM JBT Marel Corp. Add +24.9% 2.21% +0.62
EFXT Enerflex Ltd. Add +36.4% 1.39% +0.61
GE General Electric New 0.51% +0.51
IWM iShares Russell 2000 ETF New 0.51% +0.51
ITA iShares U.S. Aerospace & Def New 0.48% +0.48
ACB Aurora Cannabis Inc. New 0.45% +0.45
SRI Stoneridge Inc. Add +9.1% 3.63% +0.42
HITI High Tide Inc. New 0.38% +0.38
CRON Cronos Group Inc. New 0.28% +0.28
ZD Ziff Davis Inc. Add +15.3% 0.97% +0.27
RGLD Royal Gold Inc. New 0.25% +0.25
TRI Thomson Reuters Corp. New 0.19% +0.19
VFF Village Farms International New 0.19% +0.19
BMO Bank of Montreal Add +0.3% 1.51% +0.17
TLN Talen Energy Corp. New 0.16% +0.16
IQLT iShares MSCI International Q Add +8.6% 2.65% +0.14
RY Royal Bank of Canada Add +0.9% 1.89% +0.13
OR Or Royalties Inc. New 0.12% +0.12
QQQ Invesco QQQ Trust Series 1 Add +2.2% 1.93% +0.11
BNY Bank of New York Mellon Corp. New 0.10% +0.10
GDX Vaneck Gold Miners ETF New 0.10% +0.10
EME Emcor Group Inc. New 0.10% +0.10
BCE Bce Inc. New 0.09% +0.09
ZYME Zymeworks Inc. New 0.08% +0.08
TRP TC Energy Corp. Add +1.1% 0.90% +0.06
VSTS Vestis Corp. New 0.05% +0.05
ALM Almonty Industries Inc. New 0.04% +0.04
STIP iShares 0-5 Year Tips Bond E Add +6.5% 1.04% +0.02
CM Can Imperial BK of Commerce Add +0.1% 0.23% +0.02
USMV iShares MSCI USA Min Vol Fac Add +7.1% 0.24% +0.01
SHY iShares 1-3 Year Treasury Bo Add +4.5% 0.26% −0.00
AMZN Amazon.com Inc. Add +1.8% 0.21% −0.01
MFC Manulife Financial Corp. Add +0.6% 0.14% −0.01
CP Canadian Pacific Kansas City Add +3.1% 0.18% −0.02
GOGO Gogo Inc. Add +46.8% 1.64% −0.37
ASTL Algoma Steel Group Inc. Add +25.6% 0.75% −0.47
GSHD Goosehead Insurance Inc. Class A Add +21.7% 2.50% −0.56

Notes & Other Activity Q2 2025 → Q3 2025
STRATEGY INC (MSTR 8 PERP) SERIES A PERP PF Add +3.8% 9,241 $847K

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 88$191.0MCMP, IVV, IQLT, SRI, EVOLENT HEALTH INC (EVH 3.5 12/01/29)
Q1 2026 85$221.3MCMP, IVV, BANDWIDTH INC (BAND 0.5 04/01/28), IQLT, GLD
Q4 2025 90$228.5MCMP, BANDWIDTH INC (BAND 0.5 04/01/28), IVV, RAPID7 INC (RPD 1.25 03/15/29), IQLT
Q3 2025 93$233.2MCMP, BANDWIDTH INC (BAND 0.5 04/01/28), SRI, EVOLENT HEALTH INC (EVH 3.5 12/01/29), IVV
Q2 2025 93$221.8MCMP, BANDWIDTH INC (BAND 0.5 04/01/28), RAPID7 INC (RPD 0.25 03/15/27), EVOLENT HEALTH INC (EVH 3.5 12/01/29), SRI
Q1 2025 98$316.8MBANDWIDTH INC (BAND 0.5 04/01/28), UNITY SOFTWARE INC (U 0 11/15/26), RAPID7 INC (RPD 0.25 03/15/27), BLACKLINE INC (BL 0 03/15/26), AFFIRM HOLDINGS INC (AFRM 0 11/15/26)
Q4 2024 89$289.9MBANDWIDTH INC (BAND 0.5 04/01/28), UNITY SOFTWARE INC (U 0 11/15/26), BLACKLINE INC (BL 0 03/15/26), AFFIRM HOLDINGS INC (AFRM 0 11/15/26), SWIM
Q3 2024 31$206.8MBANDWIDTH INC (BAND 0.5 04/01/28), UNITY SOFTWARE INC (U 0 11/15/26), SRI, SWIM, BLACKLINE INC (BL 0 03/15/26)
Q2 2024 33$157.3MSRI, BANDWIDTH INC (BAND 0.5 04/01/28), UNITY SOFTWARE INC (U 0 11/15/26), BLACKLINE INC (BL 0 03/15/26), GOGO
Q1 2024 33$220.1MSRI, BANDWIDTH INC (BAND 0.5 04/01/28), UNITY SOFTWARE INC (U 0 11/15/26), PELOTON INTERACTIVE INC (PTON 0 02/15/26), BLACKLINE INC (BL 0 03/15/26)