Ewing Morris & Co. Investment Partners Ltd.

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Ewing Morris & Co. Investment Partners Ltd. reported 90 stock positions worth $228.5 million. Its top holding was Compass Minerals Internation (CMP) at 13.3% of the portfolio, followed by Bandwidth Inc. (band 0.5 04/01/28) (4.8%) and iShares Core S&P 500 ETF (IVV, 4.1%). Compared with Q3 2025, it opened 10 new positions, sold out of 13, added to 37 and reduced 17. The biggest buy was RAPID7 Inc. (rpd 1.25 03/15/29) (shares +82%) and the biggest sale an exit from RAPID7 Inc. (rpd 0.25 03/15/27).

Most Recent 13F
Q2 2026
Location
TORONTO, Z4
CIK
0001846838
Portfolio Value
$228.5M (Q4 2025)
SEC Filing
0001405086-26-000102 ↗ filed Feb 17, 2026

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 Q3 2025 Q4 2025: $228.5M $228.5M Q4 2025 Q1 2026: $221.3M Q1 2026 Q2 2026: $191.0M Q2 2026

Holdings 90 stocks · $228.5M
CMP Compass Minerals Internation 13.29% 1,678,316 $30.4M Add +0.5%
BANDWIDTH INC (BAND 0.5 04/01/28) 4.76% 12,200,000 $10.9M Add +5.2%
IVV iShares Core S&P 500 ETF 4.12% 13,567 $9.4M Add +11.6%
RAPID7 INC (RPD 1.25 03/15/29) 3.46% 8,350,000 $7.9M Add +81.5%
IQLT iShares MSCI International Q 3.33% 165,275 $7.6M Add +18.1%
EVOLENT HEALTH INC (EVH 3.5 12/01/29) 3.15% 10,500,000 $7.2M Add +5.0%
SRI Stoneridge Inc. 2.87% 1,336,204 $6.6M No change
GSHD Goosehead Insurance Inc. Class A 2.83% 86,683 $6.5M Add +10.6%
FIVE9 INC (FIVN 1 03/15/29) 2.81% 7,000,000 $6.4M No change
GLD SPDR Gold Shares 2.77% 15,778 $6.3M Reduce -2.2%
DRVN Driven Brands Holdings Inc. 2.51% 382,167 $5.7M No change
JBTM JBT Marel Corp. 2.45% 36,651 $5.6M No change
SWIM Latham Group Inc. 2.37% 841,342 $5.4M No change
BLACKLINE INC (BL 1 06/01/29) 2.35% 5,000,000 $5.4M No change
XOMETRY INC (XMTR 1 02/01/27) 2.30% 4,100,000 $5.3M No change
RY Royal Bank of Canada 2.24% 29,614 $5.1M Reduce -1.2%
TD Toronto-Dominion Bank 2.23% 53,357 $5.1M Reduce -2.5%
CABLE ONE INC (CABO 1.125 03/15/28) 2.20% 6,000,000 $5.0M No change
QQQ Invesco QQQ Trust Series 1 2.10% 7,711 $4.8M Add +3.2%
EFXT Enerflex Ltd. 2.05% 300,000 $4.7M No change
BMO Bank of Montreal filed as BANK MONTREAL QUE 1.53% 26,588 $3.5M Reduce -1.4%
FTS Fortis Inc. 1.49% 64,408 $3.4M Add +0.2%
ASTL Algoma Steel Group Inc. 1.12% 612,500 $2.6M Add +25.0%
SANG Sangoma Technologies Corp. 1.10% 493,954 $2.5M Add +28.6%
STIP iShares 0-5 Year Tips Bond E 1.07% 23,578 $2.4M Add +0.4%
ZD Ziff Davis Inc. 1.06% 68,248 $2.4M Add +14.6%
MARRIOTT VACATION WORLDW (VAC 3.25 12/15/27) 1.06% 2,500,000 $2.4M New
FUL H.B. Fuller Co. filed as FULLER H B CO 1.05% 40,000 $2.4M No change
LION Lionsgate Studios Corp. 1.01% 250,000 $2.3M No change
TSLA Tesla Inc. 0.97% 4,879 $2.2M Reduce -1.6%
TRP TC Energy Corp. 0.96% 39,040 $2.2M Add +1.8%
WMS Advanced Drainage Systems Inc. 0.95% 14,873 $2.2M Reduce -46.6%
IBIT iShares Bitcoin Trust ETF 0.95% 43,235 $2.2M Reduce -6.1%
ETSY INC (ETSY 0.25 06/15/28) 0.79% 2,000,000 $1.8M No change
SNDL SNDL Inc. 0.77% 1,051,222 $1.8M Add +10.5%
SPXC SPX Technologies Inc. 0.76% 8,612 $1.7M No change
BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA HALIFAX 0.74% 22,766 $1.7M Reduce -2.7%
FSV Firstservice Corp. 0.69% 10,000 $1.6M Add +95.1%
TRIP Tripadvisor Inc. 0.64% 99,900 $1.5M Add +236.4%
ENB Enbridge Inc. 0.64% 30,259 $1.5M Reduce -8.1%
CNQ Canadian Natural Resources 0.58% 37,951 $1.3M No change
RGLD Royal Gold Inc. 0.55% 5,590 $1.3M Add +91.8%
TPR Tapestry Inc. 0.55% 9,710 $1.3M New
SPY SS SPDR S&P 500 ETF Trust-US 0.55% 1,803 $1.2M No change
EVGO Evgo Inc. 0.54% 420,000 $1.2M No change
ITA iShares U.S. Aerospace & Def 0.52% 5,474 $1.2M Add +2.1%
LRCX Lam Research Corp. 0.52% 6,834 $1.2M New
MSTR Strategy Inc. 0.50% 7,469 $1.1M Reduce -1.0%
ACWI iShares MSCI Acwi ETF 0.50% 8,000 $1.1M No change
GOGO Gogo Inc. 0.48% 234,052 $1.1M Reduce -47.6%
CRON Cronos Group Inc. 0.45% 390,000 $1.0M Add +62.5%
MTCH Match Group Inc. 0.43% 30,186 $987K No change
ORLA Orla Mining Ltd. filed as ORLA MNG LTD NEW 0.42% 71,000 $968K No change
AAPL Apple Inc. 0.41% 3,413 $939K Add +92.5%
CLS Celestica Inc. 0.40% 3,075 $922K Reduce -7.5%
GOOG Alphabet Inc. Class C 0.38% 2,753 $874K Add +0.4%
BRK.B Berkshire Hathaway Inc. Class B 0.33% 1,503 $765K Add +6.4%
SLSR Solaris Resources Inc. 0.31% 87,100 $708K No change
IEF iShares 7-10 Year Treasury B 0.30% 7,137 $695K Reduce -1.8%
USMV iShares MSCI USA Min Vol Fac 0.29% 6,930 $661K Add +15.5%
HITI High Tide Inc. 0.28% 240,000 $650K No change
CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BANK OF CO 0.27% 6,640 $615K Add +0.7%
WPM Wheaton Precious Metals Corp. 0.26% 5,000 $596K Reduce -34.2%
SHY iShares 1-3 Year Treasury Bo 0.25% 6,892 $578K Reduce -5.7%
CP Canadian Pacific Kansas City 0.25% 7,612 $569K Add +32.0%
TRI Thomson Reuters Corp. 0.24% 4,055 $542K Add +41.2%
AMZN Amazon.com Inc. 0.23% 2,293 $536K Add +0.6%
JPM JPMorgan Chase & Co. 0.23% 1,635 $533K Add +1.0%
OR Or Royalties Inc. 0.23% 14,550 $523K Add +111.3%
VFF Village Farms International 0.23% 139,736 $516K No change
MSFT Microsoft Corp. 0.22% 1,019 $499K Reduce -43.6%
CNI Canadian Natl Railway Co. 0.20% 4,507 $452K Add +0.5%
ATI Ati Inc. 0.19% 3,800 $441K New
BL Blackline Inc. 0.18% 7,500 $420K New
BIP Brookfield Infrastructure Pa 0.18% 11,626 $409K Add +0.5%
GDX Vaneck Gold Miners ETF 0.17% 4,600 $399K Add +48.4%
V Visa Inc. Class A 0.17% 1,111 $394K No change
MFC Manulife Financial Corp. 0.17% 10,544 $388K Add +0.0%
EXPE Expedia Group Inc. 0.16% 7,000 $368K New
XBI SS SPDR S&P Biotech ETF 0.15% 2,730 $337K New
SA Seabridge Gold Inc. 0.15% 11,100 $334K No change
INDA iShares MSCI India ETF 0.14% 5,900 $323K New
SU Suncor Energy Inc. 0.14% 6,985 $314K Add +1.3%
ZYME Zymeworks Inc. 0.13% 10,850 $289K No change
EMA Emera Inc. 0.13% 5,725 $286K No change
SLF Sun Life Financial Inc. 0.11% 4,121 $261K Add +1.5%
TFII Tfi International Inc. 0.11% 2,361 $249K New
ROBN T-Rex 2X LNG Hod DLY Tar ETF 0.11% 4,400 $241K New
ALM Almonty Industries Inc. 0.07% 16,991 $151K Add +19.5%
VSTS Vestis Corp. 0.06% 20,000 $135K Reduce -25.9%
Other holdings (1): bonds, preferreds, convertibles and warrants · $757K (not counted above)
SecurityClassShares / PrincipalValueChange
STRATEGY INC (MSTR 8 PERP) SERIES A PERP PF 9,492$757KAdd +2.7%

Total filed on the 13F, all lines: $229.2M.

Portfolio Sells Q3 2025 → Q4 2025
RAPID7 INC (RPD 0.25 03/15/27) Sold out 0.00% −2.54
ZIFF DAVIS INC (ZD 3.625 03/01/28) Sold out 0.00% −1.66
SNAP INC (SNAP 0.125 03/01/28) Sold out 0.00% −1.54
GOGO Gogo Inc. Reduce -47.6% 0.48% −1.16
HOOD Robinhood Markets Inc. Class A Sold out 0.00% −0.95
WMS Advanced Drainage Systems Inc. Reduce -46.6% 0.95% −0.70
MSTR Strategy Inc. Reduce -1.0% 0.50% −0.54
GE General Electric Sold out 0.00% −0.51
IWM iShares Russell 2000 ETF Sold out 0.00% −0.51
ACB Aurora Cannabis Inc. Sold out 0.00% −0.45
IBIT iShares Bitcoin Trust ETF Reduce -6.1% 0.95% −0.33
MSFT Microsoft Corp. Reduce -43.6% 0.22% −0.18
TLN Talen Energy Corp. Sold out 0.00% −0.16
NFLX Netflix Inc. Sold out 0.00% −0.11
WPM Wheaton Precious Metals Corp. Reduce -34.2% 0.26% −0.10
BNY Bank of New York Mellon Corp. Sold out 0.00% −0.10
APH Amphenol Corp. Class A Sold out 0.00% −0.10
EME Emcor Group Inc. Sold out 0.00% −0.10
BCE Bce Inc. Sold out 0.00% −0.09
ENB Enbridge Inc. Reduce -8.1% 0.64% −0.07
SHY iShares 1-3 Year Treasury Bo Reduce -5.7% 0.25% −0.01
IEF iShares 7-10 Year Treasury B Reduce -1.8% 0.30% +0.00
VSTS Vestis Corp. Reduce -25.9% 0.06% +0.01
BMO Bank of Montreal Reduce -1.4% 1.53% +0.02
TSLA Tesla Inc. Reduce -1.6% 0.97% +0.03
CLS Celestica Inc. Reduce -7.5% 0.40% +0.05
BNS Bank of Nova Scotia Reduce -2.7% 0.74% +0.10
GLD SPDR Gold Shares Reduce -2.2% 2.77% +0.31
RY Royal Bank of Canada Reduce -1.2% 2.24% +0.34
TD Toronto-Dominion Bank Reduce -2.5% 2.23% +0.35

Portfolio Buys Q3 2025 → Q4 2025
RAPID7 INC (RPD 1.25 03/15/29) Add +81.5% 3.46% +1.65
MARRIOTT VACATION WORLDW (VAC 3.25 12/15/27) New 1.06% +1.06
CMP Compass Minerals Internation Add +0.5% 13.29% +0.84
IQLT iShares MSCI International Q Add +18.1% 3.33% +0.68
IVV iShares Core S&P 500 ETF Add +11.6% 4.12% +0.63
TPR Tapestry Inc. New 0.55% +0.55
LRCX Lam Research Corp. New 0.52% +0.52
BANDWIDTH INC (BAND 0.5 04/01/28) Add +5.2% 4.76% +0.49
TRIP Tripadvisor Inc. Add +236.4% 0.64% +0.44
ASTL Algoma Steel Group Inc. Add +25.0% 1.12% +0.37
GSHD Goosehead Insurance Inc. Class A Add +10.6% 2.83% +0.33
RGLD Royal Gold Inc. Add +91.8% 0.55% +0.30
SANG Sangoma Technologies Corp. Add +28.6% 1.10% +0.28
FSV Firstservice Corp. Add +95.1% 0.69% +0.27
AAPL Apple Inc. Add +92.5% 0.41% +0.22
ATI Ati Inc. New 0.19% +0.19
BL Blackline Inc. New 0.18% +0.18
QQQ Invesco QQQ Trust Series 1 Add +3.2% 2.10% +0.17
CRON Cronos Group Inc. Add +62.5% 0.45% +0.17
EXPE Expedia Group Inc. New 0.16% +0.16
XBI SS SPDR S&P Biotech ETF New 0.15% +0.15
INDA iShares MSCI India ETF New 0.14% +0.14
OR Or Royalties Inc. Add +111.3% 0.23% +0.11
TFII Tfi International Inc. New 0.11% +0.11
ROBN T-Rex 2X LNG Hod DLY Tar ETF New 0.11% +0.11
GOOG Alphabet Inc. Class C Add +0.4% 0.38% +0.10
ZD Ziff Davis Inc. Add +14.6% 1.06% +0.09
FTS Fortis Inc. Add +0.2% 1.49% +0.09
GDX Vaneck Gold Miners ETF Add +48.4% 0.17% +0.07
CP Canadian Pacific Kansas City Add +32.0% 0.25% +0.06
TRP TC Energy Corp. Add +1.8% 0.96% +0.06
TRI Thomson Reuters Corp. Add +41.2% 0.24% +0.05
USMV iShares MSCI USA Min Vol Fac Add +15.5% 0.29% +0.04
CM Can Imperial BK of Commerce Add +0.7% 0.27% +0.04
ITA iShares U.S. Aerospace & Def Add +2.1% 0.52% +0.04
BRK.B Berkshire Hathaway Inc. Class B Add +6.4% 0.33% +0.03
ALM Almonty Industries Inc. Add +19.5% 0.07% +0.03
MFC Manulife Financial Corp. Add +0.0% 0.17% +0.03
STIP iShares 0-5 Year Tips Bond E Add +0.4% 1.07% +0.03
AMZN Amazon.com Inc. Add +0.6% 0.23% +0.02
CNI Canadian Natl Railway Co. Add +0.5% 0.20% +0.02
BIP Brookfield Infrastructure Pa Add +0.5% 0.18% +0.02
JPM JPMorgan Chase & Co. Add +1.0% 0.23% +0.01
SU Suncor Energy Inc. Add +1.3% 0.14% +0.01
SLF Sun Life Financial Inc. Add +1.5% 0.11% +0.01
SNDL SNDL Inc. Add +10.5% 0.77% −0.33
EVOLENT HEALTH INC (EVH 3.5 12/01/29) Add +5.0% 3.15% −0.36

Notes & Other Activity Q3 2025 → Q4 2025
STRATEGY INC (MSTR 8 PERP) SERIES A PERP PF Add +2.7% 9,492 $757K

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)