Maple Rock Capital Partners Inc.
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), Maple Rock Capital Partners Inc. reported 44 stock positions worth $3.1 billion. Its top holding was Western Digital (WDC) at 12.3% of the portfolio, followed by Equinox Gold (EQX, 9.1%) and Seagate Technology (STX, 6.8%). Compared with Q4 2025, it opened 13 new positions, sold out of 7, added to 14 and reduced 17. The biggest buy was a new position in Tfi International (TFII) and the biggest sale Warrior Met Coal (HCC, shares −91%).
- Most Recent 13F
- Q2 2026
- Location
- Toronto, A6
- CIK
- 0001658363
- Portfolio Value
- $3.1B (Q1 2026)
- SEC Filing
- 0001658363-26-000005 ↗ filed May 15, 2026
Holdings Value
Holdings 44 stocks · $3.1B
| WDC Western Digital Corp. | 12.32% | 1,400,434 | $378.8M | Reduce -41.2% |
| EQX Equinox Gold Corp. | 9.14% | 19,424,648 | $280.8M | Reduce -4.0% |
| STX Seagate Technology Holdings | 6.81% | 533,985 | $209.2M | Reduce -19.8% |
| CLF Cleveland-Cliffs Inc. | 5.70% | 20,745,557 | $175.3M | Add +67.9% |
| TFII Tfi International Inc. filed as TRANSFORCE INC | 4.81% | 1,361,831 | $147.9M | New |
| BKD Brookdale Senior Living Inc. | 3.63% | 8,157,148 | $111.6M | Reduce -4.0% |
| SNDK Sandisk Corp. | 3.44% | 166,500 | $105.8M | Reduce -65.9% |
| BTI British American Tob-SP ADR | 3.02% | 1,589,100 | $92.9M | Reduce -4.0% |
| JD Jd.com Inc.-ADR | 2.91% | 3,026,262 | $89.5M | Add +57.6% |
| LPX Louisiana-Pacific Corp. | 2.63% | 1,112,559 | $80.9M | Add +88.9% |
| CVS CVS Health Corp. | 2.45% | 1,048,100 | $75.3M | Add +28.4% |
| MT Arcelormittal-NY Registered | 2.39% | 1,414,265 | $73.5M | Reduce -13.3% |
| AAP Advance Auto Parts Inc. | 2.23% | 1,298,140 | $68.5M | Reduce -4.0% |
| ASTL Algoma Steel Group Inc. | 2.14% | 15,930,818 | $65.8M | Add +10.4% |
| XPO Xpo Inc. | 2.03% | 320,242 | $62.3M | New |
| LKQ LKQ Corp. | 1.97% | 2,065,565 | $60.7M | Add +97.3% |
| AA Alcoa Corp. | 1.95% | 903,320 | $59.9M | Reduce -72.3% |
| HUM Humana Inc. | 1.95% | 344,800 | $59.8M | Add +99.7% |
| UNH Unitedhealth Group Inc. | 1.90% | 215,400 | $58.3M | Add +291.6% |
| LYFT LYFT Inc. Class A | 1.78% | 4,124,703 | $54.9M | Reduce -4.0% |
| WAB Wabtec Corp. | 1.75% | 215,400 | $53.8M | New |
| ASO Academy Sports & Outdoors Inc. | 1.54% | 840,000 | $47.4M | New |
| RKT Rocket Cos Inc. Class A | 1.45% | 3,133,200 | $44.6M | Add +72.2% |
| NGVT Ingevity Corp. | 1.40% | 603,303 | $43.0M | Reduce -10.6% |
| RUN Sunrun Inc. | 1.32% | 3,002,100 | $40.7M | Reduce -43.6% |
| ARCB Arcbest Corp. | 1.29% | 404,346 | $39.8M | Add +181.3% |
| GT Goodyear Tire & Rubber Co. | 1.25% | 5,817,063 | $38.6M | Add +46.4% |
| TPB Turning Point Brands Inc. | 1.23% | 436,000 | $37.8M | Add +9.2% |
| ICLR Icon PLC | 1.21% | 335,300 | $37.1M | New |
| BTG B2GOLD Corp. | 1.20% | 8,158,600 | $37.0M | New |
| THO Thor Industries Inc. | 1.20% | 461,864 | $36.9M | Add +170.5% |
| WGO Winnebago Industries | 1.18% | 1,169,831 | $36.3M | New |
| RYAM Rayonier Advanced Materials | 1.17% | 3,256,889 | $36.1M | New |
| LVS Las Vegas Sands Corp. | 1.16% | 662,824 | $35.7M | Reduce -52.0% |
| WHR Whirlpool Corp. | 1.04% | 593,200 | $32.0M | Add +46.8% |
| MOH Molina Healthcare Inc. | 0.74% | 169,700 | $22.6M | Reduce -25.0% |
| CNC Centene Corp. | 0.70% | 656,579 | $21.5M | Reduce -35.1% |
| KNX Knight-Swift Transportation | 0.69% | 366,095 | $21.1M | New |
| NUE Nucor Corp. | 0.64% | 117,212 | $19.8M | New |
| FBIN Fortune Brands Innovations I | 0.62% | 485,782 | $18.9M | New |
| ELV Elevance Health Inc. | 0.59% | 62,000 | $18.2M | New |
| WERN Werner Enterprises Inc. | 0.53% | 553,367 | $16.3M | Reduce -30.3% |
| CAR Avis Budget Group Inc. | 0.44% | 92,248 | $13.5M | New |
| HCC Warrior Met Coal Inc. | 0.43% | 143,059 | $13.3M | Reduce -91.3% |
Portfolio Sells Q4 2025 → Q1 2026
| HCC Warrior Met Coal Inc. | Reduce -91.3% | 0.43% | −4.34 |
| AA Alcoa Corp. | Reduce -72.3% | 1.95% | −3.78 |
| SEE Sealed Air Corp. | Sold out | 0.00% | −2.88 |
| B Barrick Mining Corp. | Sold out | 0.00% | −2.86 |
| TECK Teck Resources Ltd.-CLS B | Sold out | 0.00% | −2.20 |
| RUN Sunrun Inc. | Reduce -43.6% | 1.32% | −1.91 |
| LVS Las Vegas Sands Corp. | Reduce -52.0% | 1.16% | −1.81 |
| WDC Western Digital Corp. | Reduce -41.2% | 12.32% | −1.23 |
| PDD PDD Holdings Inc. | Sold out | 0.00% | −1.15 |
| PAGS Pagseguro Digital Ltd. Class A | Sold out | 0.00% | −1.07 |
| LYFT LYFT Inc. Class A | Reduce -4.0% | 1.78% | −0.96 |
| CNC Centene Corp. | Reduce -35.1% | 0.70% | −0.68 |
| MOH Molina Healthcare Inc. | Reduce -25.0% | 0.74% | −0.56 |
| JBS JBS NV-A | Sold out | 0.00% | −0.47 |
| SNDK Sandisk Corp. | Reduce -65.9% | 3.44% | −0.39 |
| UWMC Uwm Holdings Corp. | Sold out | 0.00% | −0.32 |
| WERN Werner Enterprises Inc. | Reduce -30.3% | 0.53% | −0.26 |
| EQX Equinox Gold Corp. | Reduce -4.0% | 9.14% | −0.25 |
| BTI British American Tob-SP ADR | Reduce -4.0% | 3.02% | −0.07 |
| MT Arcelormittal-NY Registered | Reduce -13.3% | 2.39% | −0.06 |
| NGVT Ingevity Corp. | Reduce -10.6% | 1.40% | +0.08 |
| AAP Advance Auto Parts Inc. | Reduce -4.0% | 2.23% | +0.47 |
| BKD Brookdale Senior Living Inc. | Reduce -4.0% | 3.63% | +0.60 |
| STX Seagate Technology Holdings | Reduce -19.8% | 6.81% | +0.75 |
Portfolio Buys Q4 2025 → Q1 2026
| TFII Tfi International Inc. | New | 4.81% | +4.81 |
| XPO Xpo Inc. | New | 2.03% | +2.03 |
| WAB Wabtec Corp. | New | 1.75% | +1.75 |
| ASO Academy Sports & Outdoors Inc. | New | 1.54% | +1.54 |
| UNH Unitedhealth Group Inc. | Add +291.6% | 1.90% | +1.30 |
| ICLR Icon PLC | New | 1.21% | +1.21 |
| BTG B2GOLD Corp. | New | 1.20% | +1.20 |
| WGO Winnebago Industries | New | 1.18% | +1.18 |
| RYAM Rayonier Advanced Materials | New | 1.17% | +1.17 |
| JD Jd.com Inc.-ADR | Add +57.6% | 2.91% | +1.09 |
| LPX Louisiana-Pacific Corp. | Add +88.9% | 2.63% | +1.06 |
| ARCB Arcbest Corp. | Add +181.3% | 1.29% | +0.94 |
| LKQ LKQ Corp. | Add +97.3% | 1.97% | +0.93 |
| KNX Knight-Swift Transportation | New | 0.69% | +0.69 |
| NUE Nucor Corp. | New | 0.64% | +0.64 |
| THO Thor Industries Inc. | Add +170.5% | 1.20% | +0.62 |
| FBIN Fortune Brands Innovations I | New | 0.62% | +0.62 |
| ELV Elevance Health Inc. | New | 0.59% | +0.59 |
| HUM Humana Inc. | Add +99.7% | 1.95% | +0.48 |
| CAR Avis Budget Group Inc. | New | 0.44% | +0.44 |
| CVS CVS Health Corp. | Add +28.4% | 2.45% | +0.31 |
| RKT Rocket Cos Inc. Class A | Add +72.2% | 1.45% | +0.29 |
| CLF Cleveland-Cliffs Inc. | Add +67.9% | 5.70% | +0.28 |
| ASTL Algoma Steel Group Inc. | Add +10.4% | 2.14% | +0.19 |
| GT Goodyear Tire & Rubber Co. | Add +46.4% | 1.25% | +0.11 |
| WHR Whirlpool Corp. | Add +46.8% | 1.04% | +0.08 |
| TPB Turning Point Brands Inc. | Add +9.2% | 1.23% | −0.20 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 51 | $5.1B | WDC, STX, UNH, HUM, ICLR |
| Q1 2026 | 44 | $3.1B | WDC, EQX, STX, CLF, TFII |
| Q4 2025 | 38 | $3.0B | WDC, EQX, STX, AA, CLF |
| Q3 2025 | 40 | $2.5B | WDC, EQX, STX, RUN, TFII |
| Q2 2025 | 39 | $2.0B | WDC, STX, TFII, EQX, PDD |
| Q1 2025 | 35 | $1.4B | WDC, TFII, BABA, TLN, PDD |
| Q4 2024 | 29 | $1.4B | WDC, TEVA, TLN, LYFT, TFII |
| Q3 2024 | 28 | $1.8B | WDC, VST, JD, TLN, BABA |
| Q2 2024 | 27 | $1.5B | WDC, SPR, VST, JD, BABA |
| Q1 2024 | 29 | $1.6B | WDC, SPR, VST, JD, ARCH |