Heathbridge Capital Management Ltd. In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 14, 2026), Heathbridge Capital Management Ltd. reported 28 stock positions worth $275.2 million . Its top holding was Verizon Communications (VZ) at 8.8% of the portfolio, followed by American Electric Power (AEP, 8.3% ) and Toronto-Dominion Bank (TD, 8.2% ). Compared with Q4 2025, it opened 2 new positions, sold out of 2, added to 2 and reduced 22. The biggest buy was a new position in Thomson Reuters (TRI) and the biggest sale an exit from Haleon PLC-ADR (HLN).
Location TORONTO, A6
CIK 0001503269
Portfolio Value $275.2M (Q1 2026) Holdings 28 stocks · $275.2M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q4 2025 VZ Verizon Communications Inc. 479,950 $24.1M Reduce -9.8% AEP American Electric Power 174,750 $22.9M Reduce -0.6% TD Toronto-Dominion Bank 243,350 $22.7M Reduce -0.7% AEM Agnico Eagle Mines Ltd. 92,960 $18.8M Reduce -0.2% TRP TC Energy Corp. 292,775 $18.3M Reduce -24.0% MFC Manulife Financial Corp. 456,500 $15.7M Reduce -0.6% TU Telus Corp. 1,155,900 $14.8M Reduce -0.4% CNQ Canadian Natural Resources 281,075 $13.7M Reduce -16.9% RY Royal Bank of Canada 82,500 $13.3M No change TRI Thomson Reuters Corp. 131,200 $11.8M New TECK Teck Resources Ltd.-CLS B 225,650 $11.7M Reduce -2.9% ADP Automatic Data Processing 56,465 $11.5M Add +87.7% SOBO South Bow Corp. 337,200 $11.2M Reduce -19.7% GOOGL Alphabet Inc. Class A 37,100 $10.7M Reduce -0.8% MSFT Microsoft Corp. 28,155 $10.4M Reduce -0.8% KMB Kimberly-Clark Corp. 105,450 $10.2M New CAE Cae Inc. 376,350 $9.8M Reduce -0.3% CP Canadian Pacific Kansas City 116,825 $9.2M Reduce -0.7% ZTS Zoetis Inc. 59,175 $7.0M Reduce -0.4% HBM Hudbay Minerals Inc. 183,050 $3.8M Reduce -13.6% OKE Oneok Inc. 8,300 $750K Reduce -2.9% NEM Newmont Corp. 5,350 $579K Reduce -21.9% VRSK Verisk Analytics Inc. 2,950 $560K Add +33.5% FITB Fifth Third Bancorp 11,700 $544K Reduce -2.9% XOM Exxon Mobil Corp. 2,575 $437K Reduce -3.7% DNN Denison Mines Corp. 100,000 $354K No change UNP Union Pacific Corp. 975 $237K Reduce -2.5% TMO Thermo Fisher Scientific Inc. 450 $221K Reduce -5.3%
Other holdings (1): bonds, preferreds, convertibles and warrants · $42 (not counted above) Security Class Shares / Principal Value Change ORGNW Origin Materials -CW26 *W EXP 06/25/202 16,600 $42 No change
Total filed on the 13F, all lines: $275.2M.
Portfolio Sells Q4 2025 → Q1 2026 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2025 % Of Portfolio Change To Portfolio ▲ HLN Haleon PLC-ADR Sold out 0.00% −4.06 TRP TC Energy Corp. Reduce -24.0% 6.65% −1.47 MSFT Microsoft Corp. Reduce -0.8% 3.79% −1.46 CAE Cae Inc. Reduce -0.3% 3.55% −0.84 MFC Manulife Financial Corp. Reduce -0.6% 5.70% −0.68 TD Toronto-Dominion Bank Reduce -0.7% 8.24% −0.60 GOOGL Alphabet Inc. Class A Reduce -0.8% 3.88% −0.60 TU Telus Corp. Reduce -0.4% 5.39% −0.46 SOBO South Bow Corp. Reduce -19.7% 4.07% −0.35 ZTS Zoetis Inc. Reduce -0.4% 2.54% −0.31 HBM Hudbay Minerals Inc. Reduce -13.6% 1.39% −0.22 MA Mastercard Inc. Class A Sold out 0.00% −0.09 NEM Newmont Corp. Reduce -21.9% 0.21% −0.05 TMO Thermo Fisher Scientific Inc. Reduce -5.3% 0.08% −0.02 FITB Fifth Third Bancorp Reduce -2.9% 0.20% −0.02 TECK Teck Resources Ltd.-CLS B Reduce -2.9% 4.24% −0.01 UNP Union Pacific Corp. Reduce -2.5% 0.09% −0.00 CP Canadian Pacific Kansas City Reduce -0.7% 3.33% +0.02 OKE Oneok Inc. Reduce -2.9% 0.27% +0.03 XOM Exxon Mobil Corp. Reduce -3.7% 0.16% +0.04 VZ Verizon Communications Inc. Reduce -9.8% 8.75% +0.48 AEP American Electric Power Reduce -0.6% 8.32% +0.58 CNQ Canadian Natural Resources Reduce -16.9% 4.97% +0.59 AEM Agnico Eagle Mines Ltd. Reduce -0.2% 6.84% +0.80
Portfolio Buys Q4 2025 → Q1 2026 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2025 % Of Portfolio Change To Portfolio ▼ TRI Thomson Reuters Corp. New 4.29% +4.29 KMB Kimberly-Clark Corp. New 3.70% +3.70 ADP Automatic Data Processing Add +87.7% 4.17% +1.21 VRSK Verisk Analytics Inc. Add +33.5% 0.20% +0.01
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 28 $292.4M TD, VZ, TRP, MFC, AEP Q1 2026 28 $275.2M VZ, AEP, TD, AEM, TRP Q4 2025 28 $261.7M TD, VZ, TRP, AEP, MFC Q3 2025 27 $260.5M AEP, TRP, VZ, TD, AEM Q2 2025 25 $248.9M AEP, TD, VZ, TRP, MSFT Q1 2025 28 $246.2M AEP, VZ, TRP, TD, AEM Q4 2024 28 $251.3M AEP, VZ, TRP, TD, MSFT Q3 2024 28 $263.2M TRP, AEP, VZ, AEM, MFC Q2 2024 27 $236.0M TRP, AEP, VZ, MFC, MSFT Q1 2024 29 $258.7M TRP, VZ, MFC, MSFT, TD