Hillsdale Investment Management Inc.
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 10, 2024), Hillsdale Investment Management Inc. reported 584 stock positions worth $1.3 billion. Its top holding was Celestica (CLS) at 3.5% of the portfolio, followed by Bausch Health Cos (BHC, 2.9%) and Docebo (DCBO, 2.9%). Compared with Q4 2023, it opened 140 new positions, sold out of 117, added to 190 and reduced 171. The biggest buy was a new position in Celestica (CLS) and the biggest sale an exit from Celestica (CLS).
- Most Recent 13F
- Q2 2026
- Location
- Toronto, A6
- CIK
- 0001368465
- Portfolio Value
- $1.3B (Q1 2024)
- SEC Filing
- 0000950123-24-004403 ↗ filed May 10, 2024
Holdings Value
Holdings 584 stocks · $1.3B
| CLS Celestica Inc. | 3.49% | 980,756 | $44.1M | New |
| BHC Bausch Health Cos Inc. | 2.86% | 3,409,383 | $36.1M | Add +1050.8% |
| DCBO Docebo Inc. | 2.86% | 738,692 | $36.1M | Add +19.3% |
| EGO Eldorado Gold Corp. | 2.38% | 2,137,927 | $30.1M | Add +20.9% |
| MFC Manulife Financial Corp. | 2.24% | 1,134,670 | $28.3M | Reduce -2.0% |
| CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BK COMM TO | 1.90% | 473,066 | $24.0M | Add +88.6% |
| RY Royal Bank of Canada | 1.76% | 219,944 | $22.2M | Reduce -16.9% |
| SHOP Shopify Inc. Class A | 1.52% | 248,528 | $19.2M | Reduce -32.2% |
| NOA North American Construction | 1.48% | 839,759 | $18.7M | Add +53.6% |
| STN Stantec Inc. | 1.29% | 195,790 | $16.3M | Reduce -21.7% |
| WCN Waste Connections Inc. | 1.11% | 81,349 | $14.0M | Add +7.3% |
| CNQ Canadian Natural Resources | 1.03% | 170,525 | $13.0M | Add +26.1% |
| EEMS iShares MSCI Emerging MKT SM | 0.98% | 210,040 | $12.4M | New |
| BN Brookfield Corp. | 0.96% | 289,085 | $12.1M | Add +665.1% |
| SLF Sun Life Financial Inc. | 0.87% | 201,664 | $11.0M | Reduce -50.8% |
| QSR Restaurant Brands Intern | 0.83% | 132,540 | $10.5M | Add +60.1% |
| GIB Cgi Inc. | 0.83% | 95,366 | $10.5M | Reduce -13.8% |
| CP Canadian Pacific Kansas City | 0.82% | 117,505 | $10.4M | Add +131.4% |
| BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA HALIFAX | 0.80% | 196,387 | $10.2M | Add +12.4% |
| RBA RB Global Inc. | 0.80% | 132,100 | $10.1M | Add +29.4% |
| AGI Alamos Gold Inc. Class A | 0.78% | 670,500 | $9.9M | Reduce -18.9% |
| RCI Rogers Communications Inc. Class B | 0.73% | 224,900 | $9.2M | Add +113.6% |
| PRMW Primo Water Corp. | 0.70% | 489,120 | $8.9M | Reduce -60.0% |
| FSV Firstservice Corp. | 0.65% | 49,764 | $8.2M | Reduce -19.9% |
| OTEX Open Text Corp. | 0.64% | 209,500 | $8.1M | Reduce -9.6% |
| CVLT Commvault Systems Inc. | 0.56% | 69,360 | $7.0M | Reduce -4.2% |
| PNTG The Pennant Group Inc. | 0.55% | 352,292 | $6.9M | Add +8.2% |
| APPF Appfolio Inc. Class A | 0.55% | 27,930 | $6.9M | Add +8.5% |
| QTWO Q2 Holdings Inc. filed as Q2 HLDGS INC | 0.54% | 130,466 | $6.9M | Add +8.8% |
| ENSG The Ensign Group Inc. | 0.53% | 53,670 | $6.7M | Add +3.5% |
| SKYW Skywest Inc. | 0.53% | 96,460 | $6.7M | Reduce -3.3% |
| CNI Canadian Natl Railway Co. | 0.53% | 50,430 | $6.6M | Add +58.6% |
| NMIH Nmi Holdings Inc. filed as NMI HLDGS INC | 0.52% | 202,316 | $6.5M | Add +3.9% |
| COOP Mr Cooper Group Inc. | 0.50% | 81,520 | $6.4M | Add +8.4% |
| MEDP Medpace Holdings Inc. | 0.50% | 15,650 | $6.3M | Reduce -18.4% |
| VCEL Vericel Corp. | 0.49% | 119,689 | $6.2M | Add +8.4% |
| PBH Prestige Consumer Healthcare | 0.48% | 83,600 | $6.1M | Add +8.4% |
| ANF Abercrombie & Fitch Co. Class A | 0.48% | 48,060 | $6.0M | Reduce -24.3% |
| DUOL Duolingo | 0.47% | 27,220 | $6.0M | Add +8.8% |
| LZ Legalzoomcom Inc. | 0.47% | 446,770 | $6.0M | Add +8.5% |
| APOG Apogee Enterprises Inc. | 0.46% | 98,336 | $5.8M | Add +8.5% |
| SPSC SPS Commerce Inc. | 0.46% | 31,330 | $5.8M | Add +8.7% |
| OSCR Oscar Health Inc. Class A | 0.46% | 386,900 | $5.8M | Reduce -29.5% |
| URBN Urban Outfitters Inc. | 0.45% | 131,150 | $5.7M | Add +8.4% |
| BV Brightview Holdings Inc. | 0.45% | 476,000 | $5.7M | Add +8.6% |
| LAUR Laureate Education Inc. | 0.45% | 386,221 | $5.6M | Add +8.5% |
| TD Toronto-Dominion Bank | 0.44% | 91,612 | $5.5M | Reduce -30.6% |
| BCO The Brink's Co. | 0.44% | 59,780 | $5.5M | Add +8.2% |
| BLBD Blue Bird Corp. | 0.44% | 143,900 | $5.5M | New |
| PLAB Photronics Inc. | 0.43% | 193,756 | $5.5M | Add +8.5% |
| OPCH Option Care Health Inc. | 0.43% | 163,130 | $5.5M | Add +8.5% |
| POWL Powell Industries Inc. | 0.43% | 37,994 | $5.4M | Reduce -39.4% |
| TNK Teekay Tankers Ltd. Class A | 0.43% | 92,327 | $5.4M | Reduce -11.6% |
| BBSI Barrett Business SVCS Inc. | 0.43% | 42,470 | $5.4M | Add +8.7% |
| TNET Trinet Group Inc. | 0.43% | 40,600 | $5.4M | Add +8.8% |
| RAMP Liveramp Holdings Inc. | 0.42% | 154,280 | $5.3M | Add +4.0% |
| ALPN Alpine Immune Sciences Inc. | 0.42% | 133,960 | $5.3M | New |
| LQDT Liquidity Services Inc. | 0.42% | 285,308 | $5.3M | Add +8.6% |
| HURN Huron Consulting Group Inc. | 0.42% | 54,860 | $5.3M | Add +8.5% |
| SQSP Squarespace Inc. Class A | 0.42% | 144,280 | $5.3M | Add +8.5% |
| EPAC Enerpac Tool Group Corp. | 0.41% | 146,800 | $5.2M | Add +8.6% |
| BOX Box Inc. Class A | 0.41% | 184,350 | $5.2M | Add +8.5% |
| LYTS Lsi Industries Inc. | 0.41% | 343,353 | $5.2M | Add +8.4% |
| BECN Beacon Roofing Supply Inc. | 0.41% | 52,670 | $5.2M | New |
| OVERSEAS SHIPHOLDING GROUP-A | 0.41% | 803,762 | $5.1M | Reduce -6.6% |
| ODC Oil-Dri Corp. of America | 0.40% | 68,400 | $5.1M | Add +7.7% |
| MYE Myers Industries Inc. | 0.40% | 220,000 | $5.1M | Add +8.6% |
| ACIW Aci Worldwide Inc. | 0.40% | 153,390 | $5.1M | Add +8.6% |
| BPMC Blueprint Medicines Corp. | 0.40% | 53,470 | $5.1M | New |
| AEO American Eagle Outfitters | 0.40% | 195,900 | $5.1M | New |
| YELP Yelp Inc. | 0.40% | 127,826 | $5.0M | Add +8.5% |
| HSTM Healthstream Inc. | 0.40% | 188,881 | $5.0M | Add +8.7% |
| SM SM Energy Co. | 0.40% | 100,700 | $5.0M | New |
| ALKS Alkermes PLC | 0.40% | 184,700 | $5.0M | Add +8.5% |
| SPNS Sapiens International Corp. | 0.39% | 153,400 | $4.9M | Add +8.5% |
| PRDO Perdoceo Education Corp. | 0.39% | 280,297 | $4.9M | Reduce -9.3% |
| AGYS Agilysys Inc. | 0.39% | 58,038 | $4.9M | Add +8.5% |
| BL Blackline Inc. | 0.38% | 75,080 | $4.8M | Reduce -0.1% |
| OSIS Osi Systems Inc. | 0.38% | 33,945 | $4.8M | Add +8.6% |
| ARLO Arlo Technologies Inc. | 0.38% | 382,782 | $4.8M | Reduce -1.6% |
| COCO The Vita Coco Co. Inc. | 0.38% | 197,800 | $4.8M | Add +8.5% |
| INVA Innoviva Inc. | 0.38% | 315,600 | $4.8M | Add +8.6% |
| TENB Tenable Holdings Inc. | 0.38% | 95,930 | $4.7M | Add +8.5% |
| REZI Resideo Technologies Inc. | 0.37% | 211,100 | $4.7M | New |
| CVNA Carvana Co. | 0.37% | 53,700 | $4.7M | New |
| PUBM Pubmatic Inc. Class A | 0.37% | 198,600 | $4.7M | New |
| ANIP Ani Pharmaceuticals Inc. | 0.37% | 67,510 | $4.7M | Reduce -2.7% |
| USAP Universal Stainless & Alloy | 0.36% | 205,650 | $4.6M | Add +1756.0% |
| HALO Halozyme Therapeutics Inc. | 0.36% | 112,900 | $4.6M | New |
| VERX Vertex Inc. Class A | 0.36% | 142,682 | $4.5M | Add +8.6% |
| MMS Maximus Inc. | 0.36% | 53,900 | $4.5M | New |
| NATR Natures Sunshine Prods Inc. | 0.35% | 215,030 | $4.5M | Add +8.2% |
| BLKB Blackbaud Inc. | 0.35% | 60,170 | $4.5M | Add +8.6% |
| FC Franklin Covey Co. | 0.35% | 113,550 | $4.5M | Add +8.5% |
| INTA Intapp Inc. | 0.35% | 128,560 | $4.4M | Add +8.5% |
| HIMS Hims & Hers Health Inc. | 0.35% | 282,350 | $4.4M | Reduce -0.5% |
| COLL Collegium Pharmaceutical Inc. | 0.34% | 111,500 | $4.3M | Add +18.2% |
| VBNK Versabank | 0.34% | 408,794 | $4.3M | Add +17.5% |
| ENB Enbridge Inc. | 0.34% | 119,212 | $4.3M | Reduce -33.1% |
| JILL J. Jill Inc. | 0.34% | 134,600 | $4.3M | Add +2143.3% |
Portfolio Sells Q4 2023 → Q1 2024
| CLS Celestica Inc. | Sold out | 0.00% | −4.05 |
| LSPD Lightspeed Commerce Inc. | Sold out | 0.00% | −2.31 |
| NGD New Gold Inc. | Sold out | 0.00% | −1.92 |
| KGC Kinross Gold Corp. | Sold out | 0.00% | −1.17 |
| SLF Sun Life Financial Inc. | Reduce -50.8% | 0.87% | −0.86 |
| IMO Imperial Oil Ltd. | Reduce -94.5% | 0.06% | −0.84 |
| SHOP Shopify Inc. Class A | Reduce -32.2% | 1.52% | −0.81 |
| PRMW Primo Water Corp. | Reduce -60.0% | 0.70% | −0.80 |
| CCJ Cameco Corp. | Sold out | 0.00% | −0.75 |
| MGA Magna International Inc. | Reduce -99.5% | 0.00% | −0.73 |
| SU Suncor Energy Inc. | Reduce -80.4% | 0.17% | −0.61 |
| SILV Silvercrest Metals Inc. | Sold out | 0.00% | −0.56 |
| BELFB Bel Fuse Inc. Class B | Sold out | 0.00% | −0.49 |
| THR Thermon Group Holdings Inc. | Sold out | 0.00% | −0.47 |
| HY Hyster-Yale Inc. | Sold out | 0.00% | −0.47 |
| CARG Cargurus Inc. | Sold out | 0.00% | −0.44 |
| RY Royal Bank of Canada | Reduce -16.9% | 1.76% | −0.43 |
| TAST Carrols Restaurant Group Inc. | Sold out | 0.00% | −0.42 |
| PFC Premier Financial Corp. | Sold out | 0.00% | −0.41 |
| CRESCENT PT ENERGY CORP | Reduce -80.2% | 0.11% | −0.39 |
| PETQ Petiq Inc. | Reduce -96.0% | 0.01% | −0.37 |
| WPM Wheaton Precious Metals Corp. | Sold out | 0.00% | −0.37 |
| QTRX Quanterix Corp. | Reduce -99.7% | 0.00% | −0.36 |
| STN Stantec Inc. | Reduce -21.7% | 1.29% | −0.35 |
| AMPH Amphastar Pharmaceuticals Inc. | Reduce -59.2% | 0.14% | −0.35 |
| SOLO BRANDS INC | Reduce -39.8% | 0.09% | −0.35 |
| HAE Haemonetics Corp. | Sold out | 0.00% | −0.34 |
| DAKT Daktronics Inc. | Sold out | 0.00% | −0.34 |
| PGNY Progyny Inc. | Sold out | 0.00% | −0.34 |
| NHC National Healthcare Corp. | Reduce -99.8% | 0.00% | −0.33 |
| IMXI International Money Express | Sold out | 0.00% | −0.33 |
| EQX Equinox Gold Corp. | Sold out | 0.00% | −0.32 |
| CCOI Cogent Communications Holdin | Sold out | 0.00% | −0.32 |
| OIS Oil States International Inc. | Sold out | 0.00% | −0.32 |
| ELF Elf Beauty Inc. | Reduce -99.9% | 0.00% | −0.31 |
| GH Guardant Health Inc. | Sold out | 0.00% | −0.30 |
| IBCP Independent Bank Corp. - Mich | Sold out | 0.00% | −0.30 |
| RELY Remitly Global Inc. | Sold out | 0.00% | −0.29 |
| OII Oceaneering Intl Inc. | Sold out | 0.00% | −0.29 |
| IBEX Ibex Ltd. | Sold out | 0.00% | −0.29 |
| PAY Paymentus Holdings Inc. Class A | Reduce -99.8% | 0.00% | −0.28 |
| EXTR Extreme Networks Inc. | Sold out | 0.00% | −0.28 |
| PAYO Payoneer Global Inc. | Sold out | 0.00% | −0.28 |
| WK Workiva Inc. | Sold out | 0.00% | −0.27 |
| TD Toronto-Dominion Bank | Reduce -30.6% | 0.44% | −0.26 |
| INSE Inspired Entertainment Inc. | Sold out | 0.00% | −0.25 |
| ALIT Alight Inc. Class A | Sold out | 0.00% | −0.25 |
| TTI Tetra Technologies Inc. | Sold out | 0.00% | −0.25 |
| ESNT Essent Group Ltd. | Reduce -99.8% | 0.00% | −0.24 |
| TAC Transalta Corp. | Sold out | 0.00% | −0.24 |
Portfolio Buys Q4 2023 → Q1 2024
| CLS Celestica Inc. | New | 3.49% | +3.49 |
| BHC Bausch Health Cos Inc. | Add +1050.8% | 2.86% | +2.66 |
| EEMS iShares MSCI Emerging MKT SM | New | 0.98% | +0.98 |
| CM Can Imperial BK of Commerce | Add +88.6% | 1.90% | +0.91 |
| BN Brookfield Corp. | Add +665.1% | 0.96% | +0.83 |
| NOA North American Construction | Add +53.6% | 1.48% | +0.55 |
| EGO Eldorado Gold Corp. | Add +20.9% | 2.38% | +0.50 |
| CP Canadian Pacific Kansas City | Add +131.4% | 0.82% | +0.49 |
| BLBD Blue Bird Corp. | New | 0.44% | +0.44 |
| ALPN Alpine Immune Sciences Inc. | New | 0.42% | +0.42 |
| DCBO Docebo Inc. | Add +19.3% | 2.86% | +0.42 |
| BECN Beacon Roofing Supply Inc. | New | 0.41% | +0.41 |
| BPMC Blueprint Medicines Corp. | New | 0.40% | +0.40 |
| AEO American Eagle Outfitters | New | 0.40% | +0.40 |
| SM SM Energy Co. | New | 0.40% | +0.40 |
| REZI Resideo Technologies Inc. | New | 0.37% | +0.37 |
| CVNA Carvana Co. | New | 0.37% | +0.37 |
| PUBM Pubmatic Inc. Class A | New | 0.37% | +0.37 |
| HALO Halozyme Therapeutics Inc. | New | 0.36% | +0.36 |
| MMS Maximus Inc. | New | 0.36% | +0.36 |
| USAP Universal Stainless & Alloy | Add +1756.0% | 0.36% | +0.35 |
| CUBI Customers Bancorp Inc. | New | 0.34% | +0.34 |
| AHCO Adapthealth Corp. | New | 0.34% | +0.34 |
| DNOW Dnow Inc. | New | 0.34% | +0.34 |
| GFF Griffon Corp. | New | 0.34% | +0.34 |
| ACH Accendra Health Inc. | New | 0.33% | +0.33 |
| LNTH Lantheus Holdings Inc. | New | 0.33% | +0.33 |
| ADMA Adma Biologics Inc. | Add +41893.3% | 0.33% | +0.33 |
| JILL J. Jill Inc. | Add +2143.3% | 0.34% | +0.33 |
| RCI Rogers Communications Inc. Class B | Add +113.6% | 0.73% | +0.33 |
| MAX Mediaalpha Inc. Class A | New | 0.32% | +0.32 |
| VRNS Varonis Systems Inc. | Add +61428.6% | 0.32% | +0.32 |
| SMPL The Simply Good Foods Co. | New | 0.32% | +0.32 |
| ABM Abm Industries Inc. | New | 0.32% | +0.32 |
| AGS Playags Inc. | New | 0.32% | +0.32 |
| RMBS Rambus Inc. | Add +80775.0% | 0.32% | +0.32 |
| HNI Hni Corp. | New | 0.32% | +0.32 |
| BRZE Braze Inc. Class A | New | 0.31% | +0.31 |
| RXST Rxsight Inc. | Add +50653.3% | 0.31% | +0.31 |
| GHM Graham Corp. | Add +1640.8% | 0.32% | +0.31 |
| CNQ Canadian Natural Resources | Add +26.1% | 1.03% | +0.31 |
| QSR Restaurant Brands Intern | Add +60.1% | 0.83% | +0.30 |
| GIC Global Industrial Co. | New | 0.30% | +0.30 |
| RPD RAPID7 Inc. | New | 0.30% | +0.30 |
| CMCO Columbus McKinnon Corp. | New | 0.30% | +0.30 |
| GES Guess? Inc. | New | 0.30% | +0.30 |
| HNST The Honest Co. Inc. | New | 0.30% | +0.30 |
| HCSG Healthcare Services Group | New | 0.30% | +0.30 |
| SPOK Spok Holdings Inc. | New | 0.30% | +0.30 |
| CRDO Credo Technology Group Holdi | New | 0.28% | +0.28 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 647 | $4.4B | RY, CM, TD, BNS, EFXT |
| Q1 2026 | 655 | $3.7B | RY, CM, TD, BNS, EFXT |
| Q4 2025 | 653 | $3.6B | RY, CM, TD, BNS, SHOP |
| Q3 2025 | 636 | $3.3B | RY, CM, TD, SHOP, BNS |
| Q2 2025 | 613 | $2.7B | RY, CM, ENB, SHOP, BMO |
| Q1 2025 | 593 | $2.0B | RY, CM, ENB, BMO, SHOP |
| Q4 2024 | 576 | $2.0B | RY, MFC, ENB, SHOP, CM |
| Q3 2024 | 586 | $1.3B | EGO, CGAU, CLS, PRMW, CM |
| Q2 2024 | 575 | $1.3B | CLS, EGO, PRMW, FSM, CGAU |
| Q1 2024 | 584 | $1.3B | CLS, BHC, DCBO, EGO, MFC |