Ravenstone Capital Management Inc.
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed June 26, 2026), Ravenstone Capital Management Inc. reported 39 stock positions worth $204.3 million. Its top holding was Microsoft (MSFT) at 8.7% of the portfolio, followed by Visa Class A (V, 8.0%) and Alphabet Class C (GOOG, 7.8%). Compared with Q2 2025, it opened 2 new positions, sold out of 8, added to 15 and reduced 5. The biggest buy was a new position in Roper Technologies (ROP) and the biggest sale Fortinet (FTNT, shares −1%).
- Most Recent 13F
- Q2 2026
- Location
- TORONTO, A6
- CIK
- 0002086041
- Portfolio Value
- $204.3M (Q3 2025)
- SEC Filing
- 0002086041-26-000018 ↗ filed Jun 26, 2026
Holdings Value
Holdings 39 stocks · $204.3M
| MSFT Microsoft Corp. | 8.70% | 34,311 | $17.8M | Reduce -4.1% |
| V Visa Inc. Class A | 8.00% | 47,874 | $16.3M | Add +0.7% |
| GOOG Alphabet Inc. Class C | 7.76% | 65,108 | $15.9M | Reduce -2.3% |
| APH Amphenol Corp. Class A | 6.73% | 111,056 | $13.7M | Reduce -23.2% |
| BN Brookfield Corp. | 5.36% | 159,353 | $10.9M | Add +26.8% |
| FAST Fastenal Co. | 5.27% | 219,568 | $10.8M | Add +9.5% |
| RY Royal Bank of Canada | 5.24% | 72,608 | $10.7M | Add +0.8% |
| SPGI S&P Global Inc. | 5.16% | 21,664 | $10.5M | Add +1.8% |
| TMO Thermo Fisher Scientific Inc. | 5.13% | 21,629 | $10.5M | Add +0.8% |
| DHR Danaher Corp. | 4.83% | 49,741 | $9.9M | Add +2.3% |
| HD Home Depot Inc. | 4.80% | 24,228 | $9.8M | Add +2.7% |
| SHW The Sherwin-Williams Co. | 4.60% | 27,158 | $9.4M | Add +1.2% |
| CP Canadian Pacific Kansas City | 4.33% | 118,737 | $8.8M | Add +5.3% |
| WCN Waste Connections Inc. | 4.15% | 48,207 | $8.5M | Add +0.9% |
| ZTS Zoetis Inc. | 4.06% | 56,736 | $8.3M | Add +3.8% |
| CNI Canadian Natl Railway Co. | 3.96% | 85,706 | $8.1M | Add +2.4% |
| FTNT Fortinet Inc. | 3.71% | 90,198 | $7.6M | Reduce -0.7% |
| ISRG Intuitive Surgical Inc. | 3.20% | 14,638 | $6.5M | Add +0.8% |
| ROP Roper Technologies Inc. | 2.84% | 11,647 | $5.8M | New |
| TLT iShares 20+ Year Treasury BD | 0.73% | 16,620 | $1.5M | Add +5.3% |
| GOOGL Alphabet Inc. Class A | 0.37% | 3,140 | $763K | No change |
| BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA HALIFAX | 0.30% | 9,485 | $614K | No change |
| META Meta Platforms Inc. Class A | 0.22% | 600 | $441K | No change |
| CECO Ceco Environmental Corp. | 0.14% | 5,500 | $282K | No change |
| CASY Casey's General Stores Inc. | 0.12% | 450 | $254K | No change |
| COST Costco Wholesale Corp. | 0.10% | 216 | $200K | No change |
| AMZN Amazon.com Inc. | 0.09% | 860 | $189K | Reduce -24.6% |
| CCJ Cameco Corp. | 0.03% | 775 | $65K | No change |
| NVDA Nvidia Corp. | 0.02% | 264 | $49K | No change |
| TSLA Tesla Inc. | 0.01% | 55 | $24K | No change |
| BRK.B Berkshire Hathaway Inc. Class B | 0.01% | 38 | $19K | No change |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.00% | 60 | $7K | No change |
| IBIT iShares Bitcoin Trust ETF | 0.00% | 80 | $5K | No change |
| CNR Core Natural Resources Inc. | 0.00% | 50 | $4K | New |
| ABVEF Above Food Ingredients Inc. | 0.00% | 1,051 | $2K | No change |
| SNDL SNDL Inc. | 0.00% | 383 | $1K | No change |
| ROKU Roku Inc. | 0.00% | 4 | $401 | No change |
| SNAP Snap Inc. Class A | 0.00% | 35 | $270 | No change |
| CGC Canopy Growth Corp. | 0.00% | 10 | $15 | No change |
Other holdings (1): bonds, preferreds, convertibles and warrants · $0 (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| LFLYW Merida Merger Corp. I -CW26 | *W EXP 02/04/202 | 125 | $0 | No change |
Portfolio Sells Q2 2025 → Q3 2025
| FTNT Fortinet Inc. | Reduce -0.7% | 3.71% | −1.33 |
| APH Amphenol Corp. Class A | Reduce -23.2% | 6.73% | −0.77 |
| MSFT Microsoft Corp. | Reduce -4.1% | 8.70% | −0.64 |
| AMZN Amazon.com Inc. | Reduce -24.6% | 0.09% | −0.04 |
| MA Mastercard Inc. Class A | Sold out | 0.00% | −0.02 |
| BMO Bank of Montreal | Sold out | 0.00% | −0.01 |
| GE General Electric | Sold out | 0.00% | −0.01 |
| UPS United Parcel Service Class B | Sold out | 0.00% | −0.00 |
| XYZ Block Inc. | Sold out | 0.00% | −0.00 |
| GEV GE Vernova Inc. | Sold out | 0.00% | −0.00 |
| GEHC GE Healthcare Technology | Sold out | 0.00% | −0.00 |
| WAB Wabtec Corp. | Sold out | 0.00% | −0.00 |
| GOOG Alphabet Inc. Class C | Reduce -2.3% | 7.76% | +1.55 |
Portfolio Buys Q2 2025 → Q3 2025
| ROP Roper Technologies Inc. | New | 2.84% | +2.84 |
| BN Brookfield Corp. | Add +26.8% | 5.36% | +1.27 |
| FAST Fastenal Co. | Add +9.5% | 5.27% | +0.85 |
| TMO Thermo Fisher Scientific Inc. | Add +0.8% | 5.13% | +0.57 |
| HD Home Depot Inc. | Add +2.7% | 4.80% | +0.27 |
| RY Royal Bank of Canada | Add +0.8% | 5.24% | +0.26 |
| CNR Core Natural Resources Inc. | New | 0.00% | +0.00 |
| TLT iShares 20+ Year Treasury BD | Add +5.3% | 0.73% | −0.00 |
| DHR Danaher Corp. | Add +2.3% | 4.83% | −0.22 |
| SHW The Sherwin-Williams Co. | Add +1.2% | 4.60% | −0.23 |
| CP Canadian Pacific Kansas City | Add +5.3% | 4.33% | −0.37 |
| ZTS Zoetis Inc. | Add +3.8% | 4.06% | −0.41 |
| WCN Waste Connections Inc. | Add +0.9% | 4.15% | −0.53 |
| CNI Canadian Natl Railway Co. | Add +2.4% | 3.96% | −0.62 |
| SPGI S&P Global Inc. | Add +1.8% | 5.16% | −0.73 |
| V Visa Inc. Class A | Add +0.7% | 8.00% | −0.86 |
| ISRG Intuitive Surgical Inc. | Add +0.8% | 3.20% | −0.94 |
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 |