Ravenstone Capital Management Inc.
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed June 26, 2026), Ravenstone Capital Management Inc. reported 87 stock positions worth $171.8 million. Its top holding was Visa Class A (V) at 9.7% of the portfolio, followed by Microsoft (MSFT, 7.5%) and S&P Global (SPGI, 5.9%). Compared with Q4 2024, it opened 35 new positions, sold out of 33, added to 20 and reduced 24. The biggest buy was Visa Class A (V, shares +2%) and the biggest sale Alphabet Class C (GOOG, shares −6%).
- Most Recent 13F
- Q2 2026
- Location
- TORONTO, A6
- CIK
- 0002086041
- Portfolio Value
- $171.8M (Q1 2025)
- SEC Filing
- 0002086041-26-000016 ↗ filed Jun 26, 2026
Holdings Value
Holdings 87 stocks · $171.8M
| V Visa Inc. Class A | 9.74% | 47,778 | $16.7M | Add +2.4% |
| MSFT Microsoft Corp. | 7.50% | 34,355 | $12.9M | Add +2.5% |
| SPGI S&P Global Inc. | 5.91% | 19,977 | $10.2M | Add +9.1% |
| APH Amphenol Corp. Class A | 5.87% | 153,805 | $10.1M | Add +3.1% |
| GOOG Alphabet Inc. Class C | 5.75% | 63,215 | $9.9M | Reduce -6.1% |
| TMO Thermo Fisher Scientific Inc. | 5.51% | 19,039 | $9.5M | Add +9.0% |
| AAPL Apple Inc. | 5.44% | 42,066 | $9.3M | Add +0.9% |
| DHR Danaher Corp. | 5.29% | 44,340 | $9.1M | Add +10.0% |
| WCN Waste Connections Inc. | 5.22% | 46,024 | $9.0M | Add +5.0% |
| SHW The Sherwin-Williams Co. | 5.02% | 24,688 | $8.6M | Add +12.6% |
| ZTS Zoetis Inc. | 4.92% | 51,380 | $8.5M | Add +2.9% |
| FTNT Fortinet Inc. | 4.77% | 85,150 | $8.2M | Reduce -12.0% |
| HD Home Depot Inc. | 4.74% | 22,210 | $8.1M | Add +5.7% |
| CNI Canadian Natl Railway Co. | 4.50% | 79,490 | $7.7M | Add +9.0% |
| RY Royal Bank of Canada | 4.44% | 67,733 | $7.6M | Add +4.3% |
| CP Canadian Pacific Kansas City | 4.35% | 106,525 | $7.5M | Add +12.0% |
| FAST Fastenal Co. | 4.26% | 94,315 | $7.3M | Add +16.5% |
| ISRG Intuitive Surgical Inc. | 4.02% | 13,935 | $6.9M | Reduce -8.3% |
| TLT iShares 20+ Year Treasury BD | 0.80% | 15,056 | $1.4M | Add +1244.3% |
| GOOGL Alphabet Inc. Class A | 0.29% | 3,256 | $504K | Reduce -5.3% |
| BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA HALIFAX | 0.27% | 9,876 | $468K | Reduce -20.7% |
| META Meta Platforms Inc. Class A | 0.21% | 638 | $368K | Add +6.3% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.19% | 908 | $320K | Add +6.8% |
| TSLA Tesla Inc. | 0.18% | 1,183 | $307K | Add +3843.3% |
| COST Costco Wholesale Corp. | 0.12% | 216 | $204K | No change |
| BN Brookfield Corp. | 0.12% | 3,838 | $201K | New |
| CASY Casey's General Stores Inc. | 0.11% | 450 | $195K | No change |
| AMZN Amazon.com Inc. | 0.10% | 910 | $173K | Add +42.2% |
| BAM Brookfield Asset Mgmt-A | 0.03% | 1,075 | $52K | New |
| NVDA Nvidia Corp. | 0.02% | 350 | $38K | Reduce -79.4% |
| AVGO Broadcom Inc. | 0.02% | 200 | $33K | New |
| CCJ Cameco Corp. | 0.02% | 775 | $32K | New |
| FNV Franco-Nevada Corp. | 0.01% | 155 | $24K | Reduce -88.9% |
| TRP TC Energy Corp. | 0.01% | 516 | $24K | Reduce -74.2% |
| TD Toronto-Dominion Bank | 0.01% | 368 | $22K | Reduce -79.3% |
| PANW Palo Alto Networks Inc. | 0.01% | 128 | $22K | New |
| BRK.B Berkshire Hathaway Inc. Class B | 0.01% | 38 | $20K | No change |
| MELI MercadoLibre Inc. | 0.01% | 9 | $18K | Reduce -91.0% |
| TEAM Atlassian Corp. Class A | 0.01% | 80 | $17K | Reduce -88.6% |
| NTRS Northern Trust Corp. | 0.01% | 170 | $17K | Reduce -90.0% |
| FISV Fiserv Inc. | 0.01% | 75 | $17K | Reduce -81.3% |
| FLS Flowserve Corp. | 0.01% | 300 | $15K | Reduce -85.0% |
| ADSK Autodesk Inc. | 0.01% | 55 | $14K | Reduce -93.1% |
| NET Cloudflare Inc. Class A | 0.01% | 125 | $14K | Reduce -68.8% |
| SU Suncor Energy Inc. | 0.01% | 363 | $14K | New |
| TWLO Twilio Inc. Class A | 0.01% | 120 | $12K | Reduce -95.2% |
| MFC Manulife Financial Corp. | 0.01% | 363 | $11K | New |
| CNQ Canadian Natural Resources | 0.01% | 364 | $11K | New |
| OPRA Opera Ltd.-ADR | 0.01% | 700 | $11K | New |
| PBA Pembina Pipeline Corp. | 0.01% | 273 | $11K | New |
| UNP Union Pacific Corp. | 0.01% | 45 | $11K | New |
| IVV iShares Core S&P 500 ETF | 0.01% | 18 | $10K | New |
| BSX Boston Scientific Corp. | 0.01% | 100 | $10K | New |
| SLF Sun Life Financial Inc. | 0.01% | 170 | $10K | New |
| ENB Enbridge Inc. | 0.01% | 207 | $9K | Reduce -93.1% |
| CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BK COMM | 0.01% | 161 | $9K | New |
| FTS Fortis Inc. | 0.01% | 193 | $9K | New |
| BIP Brookfield Infrastructure Pa | 0.01% | 289 | $9K | New |
| RGLD Royal Gold Inc. | 0.00% | 50 | $8K | New |
| BMO Bank of Montreal filed as BANK MONTREAL QUE | 0.00% | 82 | $8K | New |
| VRNS Varonis Systems Inc. | 0.00% | 174 | $7K | Reduce -93.3% |
| TU Telus Corp. | 0.00% | 437 | $6K | New |
| MCD McDonald's Corp. | 0.00% | 16 | $5K | New |
| QSR Restaurant Brands Intern | 0.00% | 72 | $5K | New |
| HON Honeywell International Inc. | 0.00% | 21 | $4K | New |
| NTR Nutrien Ltd. | 0.00% | 84 | $4K | New |
| MO Altria Group Inc. | 0.00% | 66 | $4K | New |
| KO The Coca-Cola Co. | 0.00% | 55 | $4K | New |
| IBIT iShares Bitcoin Trust ETF | 0.00% | 80 | $4K | New |
| JNJ Johnson & Johnson | 0.00% | 21 | $3K | New |
| MRNA Moderna Inc. | 0.00% | 99 | $3K | Reduce -90.1% |
| MDT Medtronic PLC | 0.00% | 31 | $3K | New |
| UNH Unitedhealth Group Inc. | 0.00% | 5 | $3K | Reduce -90.0% |
| SOBO South Bow Corp. | 0.00% | 90 | $2K | New |
| GBCI Glacier Bancorp Inc. | 0.00% | 50 | $2K | Reduce -98.0% |
| GRTUF Granite Real Estate Investme | 0.00% | 40 | $2K | New |
| IJH iShares Core S&P Midcap ETF | 0.00% | 30 | $2K | New |
| MRVL Marvell Technology Inc. | 0.00% | 24 | $1K | Reduce -96.6% |
| REGN Regeneron Pharmaceuticals | 0.00% | 2 | $1K | Reduce -97.1% |
| BNT Brookfield Wealth Solutions | 0.00% | 22 | $1K | New |
| LULU Lululemon Athletica Inc. | 0.00% | 3 | $849 | New |
| ABVEF Above Food Ingredients Inc. | 0.00% | 1,051 | $624 | No change |
| SNDL SNDL Inc. | 0.00% | 383 | $540 | No change |
| SNAP Snap Inc. Class A | 0.00% | 35 | $305 | No change |
| ROKU Roku Inc. | 0.00% | 4 | $282 | No change |
| HUBC Hub Cyber Security Ltd. | 0.00% | 50 | $143 | New |
| CGC Canopy Growth Corp. | 0.00% | 10 | $9 | No change |
Other holdings (3): bonds, preferreds, convertibles and warrants · $30K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | 13 | $16K | New |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | 12 | $15K | New |
| LFLYW Merida Merger Corp. I -CW26 | *W EXP 02/04/202 | 125 | $1 | No change |
Total filed on the 13F, all lines: $171.9M.
Portfolio Sells Q4 2024 → Q1 2025
| GOOG Alphabet Inc. Class C | Reduce -6.1% | 5.75% | −1.62 |
| ISRG Intuitive Surgical Inc. | Reduce -8.3% | 4.02% | −0.54 |
| FTNT Fortinet Inc. | Reduce -12.0% | 4.77% | −0.48 |
| CHI Calamos Convert Opport & Inc. | Sold out | 0.00% | −0.16 |
| TWLO Twilio Inc. Class A | Reduce -95.2% | 0.01% | −0.15 |
| ADSK Autodesk Inc. | Reduce -93.1% | 0.01% | −0.13 |
| BNS Bank of Nova Scotia | Reduce -20.7% | 0.27% | −0.11 |
| GTLS Chart Industries Inc. | Sold out | 0.00% | −0.11 |
| GLW Corning Inc. | Sold out | 0.00% | −0.11 |
| NVDA Nvidia Corp. | Reduce -79.4% | 0.02% | −0.11 |
| NTRS Northern Trust Corp. | Reduce -90.0% | 0.01% | −0.09 |
| TEAM Atlassian Corp. Class A | Reduce -88.6% | 0.01% | −0.09 |
| MELI MercadoLibre Inc. | Reduce -91.0% | 0.01% | −0.09 |
| CDNS Cadence Design SYS Inc. | Sold out | 0.00% | −0.09 |
| ZG Zillow Group Inc. Class A | Sold out | 0.00% | −0.08 |
| GOOGL Alphabet Inc. Class A | Reduce -5.3% | 0.29% | −0.08 |
| FNV Franco-Nevada Corp. | Reduce -88.9% | 0.01% | −0.08 |
| GNRC Generac Holdings Inc. | Sold out | 0.00% | −0.07 |
| GBCI Glacier Bancorp Inc. | Reduce -98.0% | 0.00% | −0.07 |
| ENB Enbridge Inc. | Reduce -93.1% | 0.01% | −0.07 |
| MARA Mara Holdings Inc. | Sold out | 0.00% | −0.07 |
| JEPI JPMorgan Equity Premium Inco | Sold out | 0.00% | −0.07 |
| VRNS Varonis Systems Inc. | Reduce -93.3% | 0.00% | −0.06 |
| BKLN Invesco Senior Loan ETF | Sold out | 0.00% | −0.06 |
| AMGN Amgen Inc. | Sold out | 0.00% | −0.06 |
| FLS Flowserve Corp. | Reduce -85.0% | 0.01% | −0.06 |
| TLH iShares 10-20 Year Treasury | Sold out | 0.00% | −0.06 |
| AGG iShares Core U.S. Aggregate | Sold out | 0.00% | −0.06 |
| VET Vermilion Energy Inc. | Sold out | 0.00% | −0.05 |
| IEF iShares 7-10 Year Treasury B | Sold out | 0.00% | −0.05 |
| EMB iShares JP Morgan Usd Emergi | Sold out | 0.00% | −0.05 |
| KMT Kennametal Inc. | Sold out | 0.00% | −0.05 |
| SBR Sabine Royalty Trust | Sold out | 0.00% | −0.04 |
| MRVL Marvell Technology Inc. | Reduce -96.6% | 0.00% | −0.04 |
| TD Toronto-Dominion Bank | Reduce -79.3% | 0.01% | −0.04 |
| JPM JPMorgan Chase & Co. | Sold out | 0.00% | −0.04 |
| RNG Ringcentral Inc. Class A | Sold out | 0.00% | −0.04 |
| AX Axos Financial Inc. | Sold out | 0.00% | −0.04 |
| TRP TC Energy Corp. | Reduce -74.2% | 0.01% | −0.04 |
| FISV Fiserv Inc. | Reduce -81.3% | 0.01% | −0.04 |
| HIVE Hive Digital Technologies LT | Sold out | 0.00% | −0.03 |
| JEPQ JPM Nasdaq Equity Premium | Sold out | 0.00% | −0.03 |
| DNN Denison Mines Corp. | Sold out | 0.00% | −0.03 |
| ZS Zscaler Inc. | Sold out | 0.00% | −0.03 |
| REGN Regeneron Pharmaceuticals | Reduce -97.1% | 0.00% | −0.03 |
| FSV Firstservice Corp. | Sold out | 0.00% | −0.03 |
| CVX Chevron Corp. | Sold out | 0.00% | −0.03 |
| MRNA Moderna Inc. | Reduce -90.1% | 0.00% | −0.02 |
| ABBV Abbvie Inc. | Sold out | 0.00% | −0.02 |
| KRO Kronos Worldwide Inc. | Sold out | 0.00% | −0.02 |
Portfolio Buys Q4 2024 → Q1 2025
| V Visa Inc. Class A | Add +2.4% | 9.74% | +1.27 |
| FAST Fastenal Co. | Add +16.5% | 4.26% | +0.91 |
| WCN Waste Connections Inc. | Add +5.0% | 5.22% | +0.91 |
| TLT iShares 20+ Year Treasury BD | Add +1244.3% | 0.80% | +0.74 |
| SHW The Sherwin-Williams Co. | Add +12.6% | 5.02% | +0.73 |
| SPGI S&P Global Inc. | Add +9.1% | 5.91% | +0.67 |
| CP Canadian Pacific Kansas City | Add +12.0% | 4.35% | +0.40 |
| TMO Thermo Fisher Scientific Inc. | Add +9.0% | 5.51% | +0.29 |
| CNI Canadian Natl Railway Co. | Add +9.0% | 4.50% | +0.26 |
| ZTS Zoetis Inc. | Add +2.9% | 4.92% | +0.25 |
| TSLA Tesla Inc. | Add +3843.3% | 0.18% | +0.17 |
| BN Brookfield Corp. | New | 0.12% | +0.12 |
| HD Home Depot Inc. | Add +5.7% | 4.74% | +0.04 |
| BAM Brookfield Asset Mgmt-A | New | 0.03% | +0.03 |
| AMZN Amazon.com Inc. | Add +42.2% | 0.10% | +0.02 |
| AVGO Broadcom Inc. | New | 0.02% | +0.02 |
| CRWD CrowdStrike Holdings Inc. Class A | Add +6.8% | 0.19% | +0.02 |
| CCJ Cameco Corp. | New | 0.02% | +0.02 |
| PANW Palo Alto Networks Inc. | New | 0.01% | +0.01 |
| META Meta Platforms Inc. Class A | Add +6.3% | 0.21% | +0.01 |
| SU Suncor Energy Inc. | New | 0.01% | +0.01 |
| MFC Manulife Financial Corp. | New | 0.01% | +0.01 |
| CNQ Canadian Natural Resources | New | 0.01% | +0.01 |
| OPRA Opera Ltd.-ADR | New | 0.01% | +0.01 |
| PBA Pembina Pipeline Corp. | New | 0.01% | +0.01 |
| UNP Union Pacific Corp. | New | 0.01% | +0.01 |
| BSX Boston Scientific Corp. | New | 0.01% | +0.01 |
| IVV iShares Core S&P 500 ETF | New | 0.01% | +0.01 |
| SLF Sun Life Financial Inc. | New | 0.01% | +0.01 |
| CM Can Imperial BK of Commerce | New | 0.01% | +0.01 |
| FTS Fortis Inc. | New | 0.01% | +0.01 |
| BIP Brookfield Infrastructure Pa | New | 0.01% | +0.01 |
| RGLD Royal Gold Inc. | New | 0.00% | +0.00 |
| BMO Bank of Montreal | New | 0.00% | +0.00 |
| TU Telus Corp. | New | 0.00% | +0.00 |
| MCD McDonald's Corp. | New | 0.00% | +0.00 |
| QSR Restaurant Brands Intern | New | 0.00% | +0.00 |
| HON Honeywell International Inc. | New | 0.00% | +0.00 |
| NTR Nutrien Ltd. | New | 0.00% | +0.00 |
| MO Altria Group Inc. | New | 0.00% | +0.00 |
| KO The Coca-Cola Co. | New | 0.00% | +0.00 |
| IBIT iShares Bitcoin Trust ETF | New | 0.00% | +0.00 |
| JNJ Johnson & Johnson | New | 0.00% | +0.00 |
| MDT Medtronic PLC | New | 0.00% | +0.00 |
| SOBO South Bow Corp. | New | 0.00% | +0.00 |
| GRTUF Granite Real Estate Investme | New | 0.00% | +0.00 |
| IJH iShares Core S&P Midcap ETF | New | 0.00% | +0.00 |
| BNT Brookfield Wealth Solutions | New | 0.00% | +0.00 |
| LULU Lululemon Athletica Inc. | New | 0.00% | +0.00 |
| HUBC Hub Cyber Security Ltd. | New | 0.00% | +0.00 |
Notes & Other Activity Q4 2024 → Q1 2025
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | New | 13 | $16K |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | New | 12 | $15K |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 53 | $244.4M | V, APH, GOOG, RY, FTNT |
| Q1 2026 | 54 | $200.2M | V, MSFT, GOOG, RY, APH |
| Q4 2025 | 40 | $219.2M | GOOG, V, MSFT, APH, TMO |
| Q3 2025 | 39 | $204.3M | MSFT, V, GOOG, APH, BN |
| Q2 2025 | 45 | $190.5M | MSFT, V, APH, GOOG, SPGI |
| Q1 2025 | 87 | $171.8M | V, MSFT, SPGI, APH, GOOG |
| Q4 2024 | 85 | $174.0M | V, MSFT, GOOG, AAPL, APH |
| Q3 2024 | 33 | $166.2M | MSFT, V, GOOG, DHR, TMO |
| Q2 2024 | 33 | $150.1M | MSFT, GOOG, V, APH, DHR |
| Q1 2024 | 34 | $150.2M | MSFT, V, GOOG, APH, TMO |