Intact Investment Management Inc.

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 22, 2025), Intact Investment Management Inc. reported 314 stock positions worth $2.9 billion. Its top holding was Toronto-Dominion Bank (TD) at 5.0% of the portfolio, followed by Can Imperial BK of Commerce (CM, 3.0%) and Manulife Financial (MFC, 2.7%). Compared with Q4 2024, it opened 54 new positions, sold out of 46, added to 101 and reduced 101. The biggest buy was Royal Bank of Canada (RY, shares +85%) and the biggest sale Bank of Montreal (BMO, shares −64%).

Most Recent 13F
Q2 2026
Location
MONTREAL, A8
CIK
0001443077
Portfolio Value
$2.9B (Q1 2025)
SEC Filing
0001062993-25-007750 ↗ filed Apr 22, 2025

Holdings Value

0$1.0B$2.0B$3.0B$4.0B Q1 2024: $2.5B Q1 2024 Q2 2024: $2.7B Q2 2024 Q3 2024: $3.0B Q3 2024 Q4 2024: $2.9B Q4 2024 Q1 2025: $2.9B $2.9B Q1 2025 Q2 2025: $3.0B Q2 2025 Q3 2025: $3.3B Q3 2025 Q4 2025: $3.5B Q4 2025 Q1 2026: $3.5B Q1 2026 Q2 2026: $3.5B Q2 2026

Holdings 314 stocks · $2.9B

TD Toronto-Dominion Bank 5.00% 2,434,985 $145.9M Reduce -20.1%
CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BK COMM 2.99% 1,548,123 $87.1M Reduce -0.8%
MFC Manulife Financial Corp. 2.70% 2,527,925 $78.8M Add +17.2%
RCI Rogers Communications Inc. Class B 2.67% 2,913,921 $77.8M Add +55.7%
PBA Pembina Pipeline Corp. 2.67% 1,944,474 $77.8M Add +13.0%
SLF Sun Life Financial Inc. 2.57% 1,308,817 $74.9M Reduce -31.5%
RY Royal Bank of Canada 2.38% 617,316 $69.5M Add +84.5%
ENB Enbridge Inc. 2.21% 1,456,653 $64.5M Reduce -0.2%
CNI Canadian Natl Railway Co. 2.06% 618,479 $60.2M Add +48.9%
CNQ Canadian Natural Resources 1.92% 1,818,610 $56.0M Add +86.4%
NTR Nutrien Ltd. 1.90% 1,115,348 $55.4M Add +29.1%
BCE Bce Inc. 1.87% 2,374,910 $54.5M Add +22.1%
GIL Gildan Activewear Inc. 1.81% 1,190,773 $52.7M Add +12.6%
BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA HALIFAX 1.78% 1,095,762 $52.0M Reduce -10.3%
SU Suncor Energy Inc. 1.71% 1,288,324 $49.9M Reduce -39.5%
BIP Brookfield Infrastructure Pa 1.68% 1,642,084 $48.9M Reduce -6.0%
QSR Restaurant Brands Intern 1.60% 701,691 $46.8M Add +12.1%
B Barrick Gold Corp. 1.50% 2,254,840 $43.8M Add +53.6%
CVE Cenovus Energy Inc. 1.48% 3,114,698 $43.3M Add +19.3%
CP Canadian Pacific Kansas City 1.45% 603,041 $42.3M Add +189.3%
VRN Veren Inc. 1.30% 5,749,216 $38.0M Add +78.6%
GRTUF Granite Real Estate Investme 1.26% 788,110 $36.7M Add +26.2%
MGA Magna International Inc. 1.13% 973,038 $33.1M Add +130.5%
AEM Agnico Eagle Mines Ltd. 1.10% 296,489 $32.1M Add +23.6%
SHOP Shopify Inc. Class A 1.07% 327,284 $31.1M Add +19.8%
MSFT Microsoft Corp. 1.00% 77,500 $29.1M Add +7.0%
BMO Bank of Montreal filed as BANK MONTREAL QUE 0.95% 291,070 $27.8M Reduce -63.5%
TU Telus Corp. 0.95% 1,921,762 $27.6M Add +3.5%
AQN Algonquin Power & Utilities 0.93% 5,281,319 $27.1M Reduce -0.9%
RBA RB Global Inc. 0.93% 268,788 $27.0M Reduce -57.9%
AAPL Apple Inc. 0.86% 112,400 $25.0M Reduce -0.2%
BN Brookfield Corp. 0.82% 458,700 $24.0M Reduce -31.4%
GOOGL Alphabet Inc. Class A 0.81% 153,000 $23.7M Add +2.3%
ABBV Abbvie Inc. 0.80% 110,900 $23.2M Reduce -0.3%
VZ Verizon Communications Inc. 0.74% 473,700 $21.5M Reduce -0.0%
PEP Pepsico Inc. 0.71% 139,000 $20.8M Add +13.4%
BEP Brookfield Renewable Partner 0.71% 938,767 $20.8M Reduce -27.5%
TRP TC Energy Corp. 0.70% 432,104 $20.4M Add +23.9%
CAE Cae Inc. 0.69% 820,290 $20.2M Add +51.3%
FTS Fortis Inc. 0.69% 440,370 $20.1M Add +151.9%
MRK Merck & Co. Inc. 0.67% 216,100 $19.4M Add +1.6%
PFE Pfizer Inc. 0.65% 744,400 $18.9M No change
PM Philip Morris International 0.64% 118,000 $18.7M Reduce -25.1%
CSCO Cisco Systems Inc. 0.63% 297,400 $18.4M Reduce -2.8%
KO The Coca-Cola Co. 0.61% 249,200 $17.8M Add +1.2%
SOBO South Bow Corp. 0.61% 697,060 $17.8M Add +122.4%
AVGO Broadcom Inc. 0.59% 103,400 $17.3M Add +3.3%
MO Altria Group Inc. 0.58% 281,500 $16.9M Add +39.3%
HD Home Depot Inc. 0.57% 45,500 $16.7M Add +1.1%
MCD McDonald's Corp. 0.57% 53,261 $16.6M No change
AGI Alamos Gold Inc. Class A 0.56% 615,810 $16.5M Reduce -31.8%
STN Stantec Inc. 0.53% 186,118 $15.4M Add +781.2%
OTEX Open Text Corp. 0.52% 606,440 $15.3M Add +136.7%
CVS CVS Health Corp. 0.51% 218,900 $14.8M Reduce -20.1%
T AT&T Inc. 0.50% 518,500 $14.7M Reduce -0.1%
JNJ Johnson & Johnson 0.50% 87,289 $14.5M Add +3.2%
DUK Duke Energy Corp. 0.49% 117,100 $14.3M No change
PRMB Primo Brands Corp. 0.46% 375,510 $13.3M Add +164.4%
TMUS T-Mobile US Inc. 0.45% 49,400 $13.2M No change
MEOH Methanex Corp. 0.45% 373,900 $13.1M Add +45.1%
KGC Kinross Gold Corp. 0.45% 1,037,430 $13.1M Reduce -31.3%
RTX RTX Corp. 0.44% 95,900 $12.7M Reduce -6.3%
ABT Abbott Laboratories 0.43% 94,100 $12.5M Reduce -4.4%
CMCSA Comcast Corp. Class A 0.43% 337,100 $12.4M Add +0.1%
PG The Procter & Gamble Co. 0.43% 72,900 $12.4M Add +0.1%
IAG Iamgold Corp. 0.41% 1,922,153 $12.0M Reduce -29.7%
JPM JPMorgan Chase & Co. 0.40% 48,000 $11.8M Reduce -0.8%
MDLZ Mondelez International Inc. Class A 0.40% 170,400 $11.6M Add +49.6%
CCI Crown Castle Inc. 0.39% 108,900 $11.4M Reduce -6.9%
AMGN Amgen Inc. 0.39% 36,400 $11.3M Reduce -1.9%
CVX Chevron Corp. 0.38% 66,000 $11.0M Reduce -8.3%
META Meta Platforms Inc. Class A 0.36% 18,100 $10.4M Add +1.1%
TFII Tfi International Inc. 0.35% 133,723 $10.4M Add +2629.0%
MS Morgan Stanley 0.35% 88,500 $10.3M Add +0.7%
DGT SS SPDR Global Dow ETF 0.35% 73,266 $10.2M No change
UPS United Parcel Service Class B 0.35% 92,400 $10.2M Reduce -13.2%
ACN Accenture PLC Class A 0.33% 31,250 $9.8M No change
BTG B2GOLD Corp. 0.33% 3,385,400 $9.6M Reduce -51.4%
CL Colgate-Palmolive Co. 0.33% 102,600 $9.6M Add +26.2%
NVDA Nvidia Corp. 0.31% 83,000 $9.0M Add +35.2%
LMT Lockheed Martin Corp. 0.30% 19,457 $8.7M Add +131.6%
TXN Texas Instruments Inc. 0.29% 47,500 $8.5M Reduce -21.5%
BLK BlackRock Inc. 0.29% 8,850 $8.4M No change
TFC Truist Financial Corp. 0.28% 198,200 $8.2M No change
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.28% 32,700 $8.1M No change
ASTL Algoma Steel Group Inc. 0.27% 1,463,761 $7.9M Add +24.6%
NKE Nike Inc. Class B 0.27% 123,900 $7.9M No change
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.27% 185,800 $7.8M Add +0.1%
LSPD Lightspeed Commerce Inc. 0.26% 873,927 $7.6M Reduce -48.8%
USB US Bancorp 0.26% 181,000 $7.6M Add +62.0%
COP Conocophillips 0.26% 71,500 $7.5M Add +32.2%
WFC Wells Fargo & Co. 0.25% 102,800 $7.4M Reduce -45.0%
CRM Salesforce Inc. 0.25% 27,400 $7.4M Reduce -0.7%
WPM Wheaton Precious Metals Corp. 0.25% 94,570 $7.3M Add +53.5%
HON Honeywell International Inc. 0.23% 31,400 $6.6M Add +115.1%
ADI Analog Devices Inc. 0.23% 32,800 $6.6M Reduce -4.7%
BAM Brookfield Asset Mgmt-A 0.22% 132,900 $6.4M New
CCJ Cameco Corp. 0.22% 153,640 $6.3M Reduce -37.8%
EXC Exelon Corp. 0.22% 137,100 $6.3M Reduce -1.3%
CSX CSX Corp. 0.22% 213,500 $6.3M New
NEE Nextera Energy Inc. 0.21% 88,300 $6.3M Add +12.8%
SLB SLB Ltd. filed as SCHLUMBERGER LTD 0.21% 148,200 $6.2M Reduce -5.2%
WM Waste Management Inc. 0.21% 26,700 $6.2M Reduce -8.6%
AES AES Corp. 0.21% 496,200 $6.2M Add +19.4%
SPY SS SPDR S&P 500 ETF Trust-US 0.21% 10,985 $6.1M No change
AVB Avalonbay Communities Inc. 0.21% 28,500 $6.1M No change
HES Hess Corp. 0.20% 37,200 $5.9M Reduce -18.1%
CMS CMS Energy Corp. 0.20% 78,900 $5.9M Reduce -17.6%
APD Air Products & Chemicals Inc. 0.20% 19,800 $5.8M No change
XEL Xcel Energy Inc. 0.20% 81,700 $5.8M No change
ORLA Orla Mining Ltd. filed as ORLA MNG LTD NEW 0.20% 608,929 $5.7M Add +5.8%
VICI Vici Properties Inc. filed as VICI PPTYS INC 0.19% 171,300 $5.6M No change
SRE Sempra 0.19% 78,100 $5.6M Add +30.4%
VET Vermilion Energy Inc. 0.19% 680,000 $5.5M Add +76.8%
PLD Prologis Inc. 0.19% 49,000 $5.5M No change
DOW Dow Inc. 0.18% 154,400 $5.4M New
XOM Exxon Mobil Corp. 0.18% 44,500 $5.3M Reduce -4.3%
KEY Keycorp 0.18% 326,400 $5.2M No change
AMZN Amazon.com Inc. 0.18% 27,100 $5.2M Reduce -9.7%
GILD Gilead Sciences Inc. 0.18% 45,800 $5.1M Reduce -0.2%
TAC Transalta Corp. 0.18% 549,050 $5.1M Reduce -59.1%
C Citigroup Inc. 0.17% 71,500 $5.1M No change
DD Dupont DE Nemours Inc. 0.17% 67,300 $5.0M Add +1.5%
GM General Motors Co. 0.17% 105,300 $5.0M New
CLX Clorox Company 0.16% 32,200 $4.7M Add +7950.0%
EIX Edison International 0.16% 80,400 $4.7M Add +0.4%
EMR Emerson Electric Co. 0.16% 42,700 $4.7M Reduce -4.7%
AMAT Applied Materials Inc. 0.16% 32,200 $4.7M Add +12.6%
O Realty Income Corp. 0.16% 79,800 $4.6M No change
LRCX Lam Research Corp. 0.16% 63,400 $4.6M Reduce -1.6%
DOC Healthpeak Properties Inc. 0.15% 218,800 $4.4M No change
FRT Federal Realty Invs Trust 0.15% 44,800 $4.4M No change
CTRA Coterra Energy Inc. 0.15% 151,500 $4.4M Reduce -4.2%
VTR Ventas Inc. 0.15% 61,700 $4.2M No change
STT State Street Corp. 0.14% 47,100 $4.2M Reduce -1.5%
SJM The JM Smucker Co. filed as SMUCKER J M CO 0.14% 35,400 $4.2M No change
ARE Alexandria Real Estate Equit 0.14% 45,300 $4.2M No change
SO The Southern Co. 0.14% 45,300 $4.2M No change
MAG Mag Silver Corp. 0.14% 269,733 $4.1M Reduce -12.3%
STZ Constellation Brands Inc. Class A 0.14% 22,100 $4.1M Add +16.3%
BDX Becton Dickinson and Co. 0.14% 17,300 $4.0M Reduce -9.4%
QCOM Qualcomm Inc. 0.14% 25,700 $3.9M No change
MCHP Microchip Technology Inc. 0.13% 80,700 $3.9M No change
TGT Target Corp. 0.13% 36,598 $3.8M Add +101.1%
NGD New Gold Inc. 0.13% 1,030,000 $3.8M Reduce -46.6%
DAL Delta Air Lines Inc. 0.13% 85,100 $3.7M New
SYY Sysco Corp. 0.12% 48,000 $3.6M Reduce -24.5%
MPWR Monolithic Power Systems Inc. 0.12% 6,200 $3.6M No change
EQIX Equinix Inc. 0.12% 4,378 $3.6M Reduce -11.0%
VLO Valero Energy Corp. 0.12% 26,400 $3.5M Reduce -10.8%
INTU Intuit Inc. 0.12% 5,600 $3.4M New
BMY Bristol-Myers Squibb Co. 0.12% 55,800 $3.4M No change
WCN Waste Connections Inc. 0.12% 17,367 $3.4M Reduce -57.7%
KHC The Kraft Heinz Co. 0.11% 107,500 $3.3M Reduce -30.1%
GLW Corning Inc. 0.11% 69,600 $3.2M Reduce -43.0%
LYB Lyondellbasell Indu Class A 0.11% 44,300 $3.1M Reduce -64.1%
EMN Eastman Chemical Co. 0.11% 35,200 $3.1M No change
NTAP Netapp Inc. 0.11% 35,300 $3.1M Add +37.4%
FNV Franco-Nevada Corp. 0.10% 19,470 $3.1M Reduce -82.4%
DCBO Docebo Inc. 0.10% 102,600 $3.0M Add +45.3%
BIPC Brookfield Infrastructure-A 0.10% 81,700 $3.0M Reduce -10.2%
FIS Fidelity National Info Serv 0.10% 39,100 $2.9M No change
USAS Americas Gold and Silver Cor 0.10% 5,268,000 $2.8M New
NOA North American Construction 0.10% 178,000 $2.8M Add +0.3%
MDT Medtronic PLC 0.10% 31,200 $2.8M No change
FITB Fifth Third Bancorp 0.10% 71,500 $2.8M New
DNN Denison Mines Corp. 0.09% 2,054,700 $2.7M Reduce -12.9%
BTE Baytex Energy Corp. 0.09% 1,184,400 $2.6M Add +72.8%
PDS Precision Drilling Corp. 0.09% 55,800 $2.6M New
DVN Devon Energy Corp. 0.09% 67,500 $2.5M New
DG Dollar General Corp. 0.09% 28,600 $2.5M No change
SANG Sangoma Technologies Corp. 0.09% 551,525 $2.5M Add +99.4%
EXR Extra Space Storage Inc. 0.08% 15,600 $2.3M No change
AMT American Tower Corp. 0.08% 10,600 $2.3M Reduce -3.6%
WMB Williams Cos Inc. 0.08% 38,400 $2.3M Reduce -60.5%
SAND Sandstorm Gold Ltd. 0.08% 298,000 $2.2M Add +10.3%
LLY Eli Lilly & Co. 0.08% 2,670 $2.2M Add +9.4%
KMB Kimberly-Clark Corp. 0.07% 15,300 $2.2M Reduce -72.7%
BEPC Brookfield Renewable Corp. 0.07% 77,200 $2.2M Add +11.7%
HBM Hudbay Minerals Inc. 0.07% 272,342 $2.1M Add +55.6%
CLS Celestica Inc. 0.07% 25,830 $2.0M New
V Visa Inc. Class A 0.07% 5,800 $2.0M Reduce -53.2%
UNP Union Pacific Corp. 0.07% 8,600 $2.0M Reduce -81.2%
TFPM Triple Flag Precious Met 0.07% 106,000 $2.0M Add +307.7%
BRK.B Berkshire Hathaway Inc. Class B 0.07% 3,800 $2.0M No change
WMT Walmart Inc. 0.06% 21,300 $1.9M Add +20.3%
WFG West Fraser Timber Co. Ltd. 0.06% 23,900 $1.8M Add +18.3%
SBUX Starbucks Corp. 0.06% 18,500 $1.8M No change
WAB Wabtec Corp. 0.06% 10,000 $1.8M New
GS Goldman Sachs Group Inc. 0.06% 3,300 $1.8M No change
ELV Elevance Health Inc. 0.06% 3,750 $1.6M Reduce -9.6%
ORCL Oracle Corp. 0.06% 11,500 $1.6M Reduce -53.8%
NOW ServiceNow Inc. 0.05% 1,970 $1.6M Add +3.7%
TMO Thermo Fisher Scientific Inc. 0.05% 3,100 $1.5M Add +19.2%
OR Osisko Gold Royalties Ltd. 0.05% 73,000 $1.5M New
CMG Chipotle Mexican Grill Inc. 0.05% 29,800 $1.5M Add +8.8%
ADBE Adobe Inc. 0.05% 3,785 $1.5M Add +51.4%
SKX Skechers USA Inc. Class A 0.05% 25,300 $1.4M Add +23.4%
MA Mastercard Inc. Class A 0.05% 2,600 $1.4M New
GOOG Alphabet Inc. Class C 0.05% 9,000 $1.4M Add +12.5%
ROST Ross Stores Inc. 0.05% 11,000 $1.4M Reduce -32.5%
TECK Teck Resources Ltd.-CLS B 0.05% 37,840 $1.4M Reduce -49.3%
SPGI S&P Global Inc. 0.05% 2,700 $1.4M No change
DXCM Dexcom Inc. 0.05% 20,000 $1.4M Add +66.7%
CPAY Corpay Inc. 0.05% 3,900 $1.4M No change
BA The Boeing Co. 0.04% 7,300 $1.2M Reduce -7.6%
RJF Raymond James Financial Inc. 0.04% 8,700 $1.2M Add +6.1%
BHC Bausch Health Cos Inc. 0.04% 185,200 $1.2M Reduce -29.1%
SII Sprott Inc. 0.04% 26,800 $1.2M Add +92.8%
PH Parker Hannifin Corp. 0.04% 1,900 $1.2M Reduce -29.6%
UNH Unitedhealth Group Inc. 0.04% 2,200 $1.2M Add +120.0%
SBAC SBA Communications Corp. 0.04% 5,100 $1.1M No change
TSLA Tesla Inc. 0.04% 4,200 $1.1M Reduce -8.7%
SCHW Schwab (charles) Corp. 0.04% 13,400 $1.0M Reduce -6.3%
CCL Carnival Corp. 0.04% 53,700 $1.0M Add +101.1%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.04% 10,550 $1.0M No change
WEC WEC Energy Group Inc. 0.04% 9,400 $1.0M Reduce -13.8%
IQV Iqvia Holdings Inc. 0.03% 5,700 $1.0M No change
ALL Allstate Corp. 0.03% 4,600 $953K Reduce -51.6%
MET Metlife Inc. 0.03% 11,500 $923K Add +0.9%
GIB Cgi Inc. 0.03% 8,800 $879K Reduce -76.6%
EXK Endeavour Silver Corp. 0.03% 205,500 $877K New
COF Capital One Financial Corp. 0.03% 4,800 $861K No change
UBER Uber Technologies Inc. 0.03% 11,700 $852K No change
CGAU Centerra Gold Inc. 0.03% 133,500 $847K Reduce -50.1%
AKAM Akamai Technologies Inc. 0.03% 10,500 $845K No change
LOW Lowe's Cos Inc. 0.03% 3,600 $840K New
J Jacobs Solutions Inc. 0.03% 6,900 $834K Reduce -6.8%
CARR Carrier Global Corp. 0.03% 12,900 $818K Reduce -22.8%
CDW CDW Corp. 0.03% 5,100 $817K Reduce -7.3%
ICE Intercontinental Exchange Inc. 0.03% 4,700 $811K No change
GXO Gxo Logistics Inc. 0.03% 20,500 $801K No change
AVY Avery Dennison Corp. 0.03% 4,500 $801K New
SNPS Synopsys Inc. 0.03% 1,800 $772K Reduce -5.3%
MLM Martin Marietta Materials 0.03% 1,600 $765K Add +33.3%
ON On Semiconductor 0.02% 17,800 $724K Add +10.6%
CMA Comerica Inc. 0.02% 12,100 $715K New
ESS Essex Property Trust Inc. 0.02% 2,300 $705K New
DELL Dell Technologies -C 0.02% 7,600 $693K Add +0.0%
AIG American International Group 0.02% 7,400 $643K Reduce -50.7%
ETN Eaton Corp. PLC 0.02% 2,100 $571K New
MU Micron Technology Inc. 0.02% 6,300 $547K No change
LHX L3HARRIS Technologies Inc. 0.02% 2,600 $544K No change
REG Regency Centers Corp. 0.02% 7,300 $538K Reduce -11.0%
BSX Boston Scientific Corp. 0.02% 5,300 $535K Add +8.2%
COST Costco Wholesale Corp. 0.02% 550 $520K Add +89.7%
REGN Regeneron Pharmaceuticals 0.02% 780 $495K Add +56.0%
KLAC KLA Corp. 0.02% 700 $476K Reduce -66.7%
SSRM SSR Mining Inc. 0.02% 47,100 $472K Add +65.3%
FCX Freeport-McMoran Inc. 0.02% 11,700 $443K Reduce -12.0%
TASEKO MINES LTD 0.01% 171,500 $384K New
ZTS Zoetis Inc. 0.01% 2,300 $379K Add +475.0%
NFLX Netflix Inc. 0.01% 400 $373K No change
WTW Willis Towers Watson PLC 0.01% 1,000 $338K Reduce -64.3%
ADSK Autodesk Inc. 0.01% 1,200 $314K New
AMD Advanced Micro Devices 0.01% 2,601 $267K Reduce -33.3%
ERO Ero Copper Corp. 0.01% 20,600 $250K Reduce -29.0%
GMED Globus Medical Inc. Class A 0.01% 3,400 $249K New
CEG Constellation Energy 0.01% 1,102 $222K Add +55000.0%
FDX FedEx Corp. 0.01% 900 $219K Add +350.0%
APO Apollo Global Management Inc. 0.01% 1,600 $219K New
UHS Universal Health Services-B 0.01% 1,000 $188K Add +25.0%
DE Deere & Co. 0.01% 400 $188K Reduce -89.7%
ELF Elf Beauty Inc. 0.01% 2,600 $163K Reduce -46.9%
CPB The Campbell's Company 0.01% 3,900 $156K New
DSGX The Descartes Systems Grp 0.00% 1,400 $141K New
AMTM Amentum Holdings Inc. 0.00% 6,900 $126K Reduce -29.6%
TRGP Targa Resources Corp. 0.00% 400 $80K New
CME Cme Group Inc. 0.00% 300 $80K New
GL Globe Life Inc. 0.00% 600 $79K No change
AFL Aflac Inc. 0.00% 700 $78K New
CHD Church & Dwight Co. Inc. 0.00% 700 $77K New
GNRC Generac Holdings Inc. 0.00% 600 $76K New
NDAQ Nasdaq Inc. 0.00% 1,000 $76K New
ROL Rollins Inc. 0.00% 1,400 $76K No change
ENPH Enphase Energy Inc. 0.00% 1,200 $74K New
MMM 3M Co. 0.00% 500 $73K Reduce -9.1%
CPT Camden Property Trust 0.00% 600 $73K New
MPC Marathon Petroleum Corp. 0.00% 500 $73K No change
INCY Incyte Corp. 0.00% 1,200 $73K New
NEM Newmont Corp. 0.00% 1,500 $72K Reduce -11.8%
UDR Udr Inc. 0.00% 1,600 $72K No change
OTIS Otis Worldwide Corp. 0.00% 700 $72K New
NI Nisource Inc. 0.00% 1,800 $72K No change
JCI Johnson Controls Internation 0.00% 900 $72K Reduce -98.2%
GDDY GoDaddy Inc. Class A 0.00% 400 $72K New
IR Ingersoll-Rand Inc. 0.00% 900 $72K New
HPQ HP Inc. 0.00% 2,600 $72K Add +30.0%
AOS Smith (a.o.) Corp. 0.00% 1,100 $72K New
KDP Keurig Dr Pepper Inc. 0.00% 2,100 $72K New
CHRW C.H. Robinson Worldwide Inc. 0.00% 700 $72K Add +0.0%
GEN Gen Digital Inc. 0.00% 2,700 $72K Add +8.0%
VTRS Viatris Inc. 0.00% 8,200 $71K New
WY Weyerhaeuser Co. 0.00% 2,400 $70K New
A Agilent Technologies Inc. 0.00% 600 $70K New
ANET Arista Networks Inc. 0.00% 900 $70K New
OKE Oneok Inc. 0.00% 700 $69K New
IP International Paper Co. 0.00% 1,300 $69K New
CTVA Corteva Inc. 0.00% 1,100 $69K Reduce -91.1%
TFX Teleflex Inc. 0.00% 500 $69K New
FOX Fox Corp. Class B 0.00% 1,300 $69K Reduce -18.8%
HAL Halliburton Co. 0.00% 2,700 $68K New
BIIB Biogen Inc. 0.00% 500 $68K New
VLTO Veralto Corp. 0.00% 701 $68K No change
JBL Jabil Inc. 0.00% 500 $68K No change
LDOS Leidos Holdings Inc. 0.00% 500 $67K New
MSCI MSCI Inc. 0.00% 119 $67K New
FISV Fiserv Inc. 0.00% 300 $66K New
HUBB Hubbell Inc. 0.00% 200 $66K New
CI The Cigna Group 0.00% 200 $66K Reduce -84.6%
MKTX Marketaxess Holdings Inc. 0.00% 300 $65K New
MAS Masco Corp. 0.00% 920 $64K No change
PSA Public Storage 0.00% 200 $60K Add +0.0%
BBU Brookfield Business PT-Unit 0.00% 2,100 $49K Reduce -27.6%

Portfolio Sells Q4 2024 → Q1 2025

BMO Bank of Montreal Reduce -63.5% 0.95% −1.75
SLF Sun Life Financial Inc. Reduce -31.5% 2.57% −1.39
RBA RB Global Inc. Reduce -57.9% 0.93% −1.09
SU Suncor Energy Inc. Reduce -39.5% 1.71% −0.95
TD Toronto-Dominion Bank Reduce -20.1% 5.00% −0.67
LSPD Lightspeed Commerce Inc. Reduce -48.8% 0.26% −0.65
BN Brookfield Corp. Reduce -31.4% 0.82% −0.52
BNS Bank of Nova Scotia Reduce -10.3% 1.78% −0.51
TAC Transalta Corp. Reduce -59.1% 0.18% −0.49
CM Can Imperial BK of Commerce Reduce -0.8% 2.99% −0.46
TRI Thomson Reuters Corp. Sold out 0.00% −0.42
ATS Ats Corp. Sold out 0.00% −0.42
FNV Franco-Nevada Corp. Reduce -82.4% 0.10% −0.35
BEP Brookfield Renewable Partner Reduce -27.5% 0.71% −0.32
UNP Union Pacific Corp. Reduce -81.2% 0.07% −0.30
BTG B2GOLD Corp. Reduce -51.4% 0.33% −0.27
BIP Brookfield Infrastructure Pa Reduce -6.0% 1.68% −0.26
CCJ Cameco Corp. Reduce -37.8% 0.22% −0.23
LYB Lyondellbasell Indu Class A Reduce -64.1% 0.11% −0.21
WFC Wells Fargo & Co. Reduce -45.0% 0.25% −0.21
KMB Kimberly-Clark Corp. Reduce -72.7% 0.07% −0.18
BWA Borgwarner Inc. Sold out 0.00% −0.18
NOC Northrop Grumman Corp. Sold out 0.00% −0.16
BB Blackberry Ltd. Sold out 0.00% −0.15
HSY The Hershey Co. Sold out 0.00% −0.14
JCI Johnson Controls Internation Reduce -98.2% 0.00% −0.13
WCN Waste Connections Inc. Reduce -57.7% 0.12% −0.13
AAPL Apple Inc. Reduce -0.2% 0.86% −0.13
UPS United Parcel Service Class B Reduce -13.2% 0.35% −0.12
GIB Cgi Inc. Reduce -76.6% 0.03% −0.11
WMB Williams Cos Inc. Reduce -60.5% 0.08% −0.11
TXN Texas Instruments Inc. Reduce -21.5% 0.29% −0.10
GLW Corning Inc. Reduce -43.0% 0.11% −0.09
ORCL Oracle Corp. Reduce -53.8% 0.06% −0.09
IAG Iamgold Corp. Reduce -29.7% 0.41% −0.08
CRM Salesforce Inc. Reduce -0.7% 0.25% −0.07
V Visa Inc. Class A Reduce -53.2% 0.07% −0.07
TECK Teck Resources Ltd.-CLS B Reduce -49.3% 0.05% −0.06
DNN Denison Mines Corp. Reduce -12.9% 0.09% −0.06
EQX Equinox Gold Corp. Sold out 0.00% −0.06
AMZN Amazon.com Inc. Reduce -9.7% 0.18% −0.05
KHC The Kraft Heinz Co. Reduce -30.1% 0.11% −0.05
DE Deere & Co. Reduce -89.7% 0.01% −0.05
SYY Sysco Corp. Reduce -24.5% 0.12% −0.05
LAR Lithium Americas Argentina C Sold out 0.00% −0.04
VBNK Versabank Sold out 0.00% −0.04
KGC Kinross Gold Corp. Reduce -31.3% 0.45% −0.04
EQIX Equinix Inc. Reduce -11.0% 0.12% −0.04
ROST Ross Stores Inc. Reduce -32.5% 0.05% −0.04
NGD New Gold Inc. Reduce -46.6% 0.13% −0.04

Portfolio Buys Q4 2024 → Q1 2025

RY Royal Bank of Canada Add +84.5% 2.38% +0.98
CP Canadian Pacific Kansas City Add +189.3% 1.45% +0.92
CNQ Canadian Natural Resources Add +86.4% 1.92% +0.87
VRN Veren Inc. Add +78.6% 1.30% +0.73
B Barrick Gold Corp. Add +53.6% 1.50% +0.71
RCI Rogers Communications Inc. Class B Add +55.7% 2.67% +0.66
CNI Canadian Natl Railway Co. Add +48.9% 2.06% +0.59
NTR Nutrien Ltd. Add +29.1% 1.90% +0.55
MGA Magna International Inc. Add +130.5% 1.13% +0.52
STN Stantec Inc. Add +781.2% 0.53% +0.47
AEM Agnico Eagle Mines Ltd. Add +23.6% 1.10% +0.45
PBA Pembina Pipeline Corp. Add +13.0% 2.67% +0.45
FTS Fortis Inc. Add +151.9% 0.69% +0.43
MFC Manulife Financial Corp. Add +17.2% 2.70% +0.39
SOBO South Bow Corp. Add +122.4% 0.61% +0.35
TFII Tfi International Inc. Add +2629.0% 0.35% +0.33
PRMB Primo Brands Corp. Add +164.4% 0.46% +0.30
BCE Bce Inc. Add +22.1% 1.87% +0.29
OTEX Open Text Corp. Add +136.7% 0.52% +0.27
BAM Brookfield Asset Mgmt-A New 0.22% +0.22
CSX CSX Corp. New 0.22% +0.22
CAE Cae Inc. Add +51.3% 0.69% +0.21
MO Altria Group Inc. Add +39.3% 0.58% +0.21
GRTUF Granite Real Estate Investme Add +26.2% 1.26% +0.20
DOW Dow Inc. New 0.18% +0.18
QSR Restaurant Brands Intern Add +12.1% 1.60% +0.18
GM General Motors Co. New 0.17% +0.17
CLX Clorox Company Add +7950.0% 0.16% +0.16
MDLZ Mondelez International Inc. Class A Add +49.6% 0.40% +0.16
LMT Lockheed Martin Corp. Add +131.6% 0.30% +0.16
TRP TC Energy Corp. Add +23.9% 0.70% +0.13
WPM Wheaton Precious Metals Corp. Add +53.5% 0.25% +0.13
DAL Delta Air Lines Inc. New 0.13% +0.13
INTU Intuit Inc. New 0.12% +0.12
HON Honeywell International Inc. Add +115.1% 0.23% +0.11
CVE Cenovus Energy Inc. Add +19.3% 1.48% +0.10
USAS Americas Gold and Silver Cor New 0.10% +0.10
FITB Fifth Third Bancorp New 0.10% +0.10
PDS Precision Drilling Corp. New 0.09% +0.09
DVN Devon Energy Corp. New 0.09% +0.09
ORLA Orla Mining Ltd. Add +5.8% 0.20% +0.08
KO The Coca-Cola Co. Add +1.2% 0.61% +0.08
USB US Bancorp Add +62.0% 0.26% +0.08
CL Colgate-Palmolive Co. Add +26.2% 0.33% +0.07
COP Conocophillips Add +32.2% 0.26% +0.07
CLS Celestica Inc. New 0.07% +0.07
JNJ Johnson & Johnson Add +3.2% 0.50% +0.07
GIL Gildan Activewear Inc. Add +12.6% 1.81% +0.07
TU Telus Corp. Add +3.5% 0.95% +0.07
PEP Pepsico Inc. Add +13.4% 0.71% +0.06

Notes & Other Activity Q4 2024 → Q1 2025

DOO BRP Inc./Ca- Sub Voting COM SUN VTG Reduce -100.0% 0 $0
MTD Mettler-Toledo International COM Reduce -100.0% 0 $0
HPE Hewlett Packard Enterprise COM Reduce -100.0% 0 $0
JBHT Hunt (jb) Transprt SVCS Inc. COM Reduce -100.0% 0 $0
EXPD Expeditors Intl Wash Inc. COM Reduce -100.0% 0 $0
PNR Pentair PLC SHS Reduce -100.0% 0 $0
BNY Bank of New York Mellon Corp. COM New 0 $0
CNC Centene Corp. COM New 0 $0
ED Consolidated Edison Inc. COM Sold out 0 $0before exit
DVA Davita Inc. COM Sold out 0 $0before exit
GEV GE Vernova Inc. COM New 0 $0
GPC Genuine Parts Co. COM Sold out 0 $0before exit
HRL Hormel Foods Corp. COM New 0 $0
IMO Imperial Oil Ltd. COM NEW New 0 $0
INTC Intel Corp. COM Sold out 0 $0before exit
IPG Interpublic Group of Cos Inc. COM New 0 $0
KEYS Keysight Technologies Inc. COM New 0 $0
MRSH Marsh & McLennan Cos COM Sold out 0 $0before exit
MOS The Mosaic Co. COM New 0 $0
OXY Occidental Petroleum Corp. COM Sold out 0 $0before exit
SPG Simon Property Group Inc. COM Sold out 0 $0before exit
VRSN Verisign Inc. COM Sold out 0 $0before exit

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

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 207$3.5BMFC, SPYM, TD, CNI, RY
Q1 2026 266$3.5BRY, SU, TD, BIP, CVE
Q4 2025 310$3.5BTD, RY, SLF, BCE, B
Q3 2025 254$3.3BTD, RY, RCI, BNS, PBA
Q2 2025 322$3.0BTD, RCI, RY, PBA, EMA
Q1 2025 314$2.9BTD, CM, MFC, RCI, PBA
Q4 2024 309$2.9BTD, SLF, CM, BMO, SU
Q3 2024 306$3.0BTD, CM, MFC, RCI, BNS
Q2 2024 259$2.7BTD, CM, MFC, SU, TU
Q1 2024 256$2.5BTD, CM, MFC, TU, BMO