Timelo Investment Management Inc.

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 14, 2026), Timelo Investment Management Inc. reported 45 stock positions worth $73.0 million. Its top holding was Profound Medical (PROF) at 9.9% of the portfolio, followed by iShares 20+ Year Treasury BD (TLT, 5.3%) and Walmart (WMT, 5.1%). Compared with Q4 2025, it opened 22 new positions, sold out of 21, added to 5 and reduced 12. The biggest buy was a new position in iShares 20+ Year Treasury BD (TLT) and the biggest sale Telus (TU, shares −73%).

Most Recent 13F
Q2 2026
Location
Aurora, A6
CIK
0001851296
Portfolio Value
$73.0M (Q1 2026)
SEC Filing
0000919574-26-003066 ↗ filed May 14, 2026

Holdings Value

0$20.0M$40.0M$60.0M$80.0M$100.0M Q1 2024: $64.5M Q1 2024 Q2 2024: $49.7M Q2 2024 Q3 2024: $40.5M Q3 2024 Q4 2024: $44.5M Q4 2024 Q1 2025: $22.8M Q1 2025 Q2 2025: $28.9M Q2 2025 Q3 2025: $60.3M Q3 2025 Q4 2025: $94.2M Q4 2025 Q1 2026: $73.0M $73.0M Q1 2026 Q2 2026: $80.0M Q2 2026

Holdings 45 stocks · $73.0M
PROF Profound Medical Corp. 9.90% 1,114,967 $7.2M Add +13.8%
TLT iShares 20+ Year Treasury BD 5.34% 45,000 $3.9M New
WMT Walmart Inc. 5.11% 30,000 $3.7M New
BKD Brookdale Senior Living Inc. 4.82% 257,000 $3.5M New
MSFT Microsoft Corp. 4.56% 9,000 $3.3M Add +80.0%
GIB Cgi Inc. 4.31% 43,000 $3.1M Add +7.5%
BAM Brookfield Asset Mgmt-A 3.96% 65,000 $2.9M New
EFXT Enerflex Ltd. 3.67% 128,200 $2.7M Reduce -68.2%
BIPC Brookfield Infrastructure-A 3.52% 65,000 $2.6M New
TU Telus Corp. 3.43% 195,000 $2.5M Reduce -73.1%
BROS Dutch Bros Inc. Class A 3.33% 48,000 $2.4M Add +6.7%
EAT Brinker International Inc. 3.13% 16,000 $2.3M Reduce -20.0%
SHY iShares 1-3 Year Treasury Bo 3.06% 27,100 $2.2M No change
GIL Gildan Activewear Inc. 2.97% 39,000 $2.2M New
MOH Molina Healthcare Inc. 2.92% 16,000 $2.1M Reduce -27.3%
ELV Elevance Health Inc. 2.81% 7,000 $2.0M Reduce -56.3%
ITRN Ituran Location and Control 2.62% 39,000 $1.9M Reduce -68.3%
BTI British American Tob-SP ADR 2.40% 30,000 $1.8M Reduce -53.9%
CALM Cal-Maine Foods Inc. 2.28% 21,000 $1.7M Reduce -16.0%
BGSI Boyd Group Services Inc. 2.24% 12,800 $1.6M Add +611.1%
DRVN Driven Brands Holdings Inc. 2.16% 125,000 $1.6M New
IREN Iren Ltd. filed as IREN LIMITED 1.97% 42,000 $1.4M Reduce -4.5%
POOL Pool Corp. 1.94% 7,000 $1.4M New
CAE Cae Inc. 1.93% 54,100 $1.4M New
TAC Transalta Corp. 1.88% 105,000 $1.4M New
CVE Cenovus Energy Inc. 1.82% 50,000 $1.3M New
FURY Fury Gold Mines Ltd. 1.47% 1,756,500 $1.1M Reduce -15.0%
OVV Ovintiv Inc. 1.22% 15,000 $890K New
GRAL Grail Inc. 1.06% 15,000 $775K New
WIX Wix.com Ltd. 0.99% 8,000 $721K New
SOBO South Bow Corp. 0.91% 20,000 $666K New
BAX Baxter International Inc. 0.85% 37,000 $622K Reduce -73.9%
PACH Pioneer Acquisition I Class A 0.83% 60,000 $608K New
CIGI Colliers Intl GR-Subord Vot 0.73% 5,000 $534K New
OBA Oxley Bridge Acquisitio Class A 0.69% 50,000 $507K New
MINE Mayfair Gold Corp. 0.67% 158,750 $491K New
WFG West Fraser Timber Co. Ltd. 0.55% 6,200 $405K Reduce -89.0%
VET Vermilion Energy Inc. 0.47% 25,000 $345K No change
CNH CNH Industrial NV 0.38% 25,000 $275K No change
FIGX Figx Capital Acquisition C-A 0.35% 25,000 $253K New
GDYN Grid Dynamics Holdings Inc. 0.20% 25,000 $143K New
CAEP Cantor Equity Partners III-A 0.14% 10,000 $103K No change
FCRS Futurecrest Acquisition Class A 0.14% 10,000 $101K No change
MBVI M3-Brigade Acquisition Class A 0.14% 10,000 $101K New
MESHU Meshflow Acquisition Corp. 0.14% 10,000 $100K No change

Options reported separately and not counted above: SPY puts ($45.5M), SLV puts ($6.8M), PLTR puts ($1.5M).

Other holdings (3): bonds, preferreds, convertibles and warrants · $14K (not counted above)
SecurityClassShares / PrincipalValueChange
PACHW Pioneer Acquisition I Corp. *W EXP 06/16/203 30,000$5KNew
OBAWW Oxley Bridge Acq Ltd. -30 *W EXP 06/17/203 25,000$5KNew
FIGXW Figx Capital Acquisition Cor *W EXP 06/17/203 12,500$3KNew

Total filed on the 13F, all lines: $73.0M.

Portfolio Sells Q4 2025 → Q1 2026
TU Telus Corp. Reduce -73.1% 3.43% −6.71
CMG Chipotle Mexican Grill Inc. Sold out 0.00% −3.65
FSV Firstservice Corp. Sold out 0.00% −3.30
ELV Elevance Health Inc. Reduce -56.3% 2.81% −3.15
WFG West Fraser Timber Co. Ltd. Reduce -89.0% 0.55% −3.09
ITRN Ituran Location and Control Reduce -68.3% 2.62% −3.00
EFXT Enerflex Ltd. Reduce -68.2% 3.67% −2.93
DECK Deckers Outdoor Corp. Sold out 0.00% −2.64
CNQ Canadian Natural Resources Sold out 0.00% −2.33
QSR Restaurant Brands Intern Sold out 0.00% −2.17
NOA North American Construction Sold out 0.00% −2.14
BAX Baxter International Inc. Reduce -73.9% 0.85% −2.03
BCE Bce Inc. Sold out 0.00% −2.02
TRI Thomson Reuters Corp. Sold out 0.00% −1.68
CNI Canadian Natl Railway Co. Sold out 0.00% −1.57
BTI British American Tob-SP ADR Reduce -53.9% 2.40% −1.50
MOS The Mosaic Co. Sold out 0.00% −1.41
AMZN Amazon.com Inc. Sold out 0.00% −1.22
MOH Molina Healthcare Inc. Reduce -27.3% 2.92% −1.13
CP Canadian Pacific Kansas City Sold out 0.00% −0.78
PACHU Pioneer Acquisition I Corp. Sold out 0.00% −0.65
CRCL Circle Internet Group Inc. Sold out 0.00% −0.59
OBAWU Oxley Bridge Acquisition Ltd. Sold out 0.00% −0.54
TFII Tfi International Inc. Sold out 0.00% −0.31
FIGXU Figx Capital Acquisition Cor Sold out 0.00% −0.27
NFGC New Found Gold Corp. Sold out 0.00% −0.22
FIGR Figure Technology Solut Class A Sold out 0.00% −0.22
CEPV Cantor Equity Partners Class A Sold out 0.00% −0.11
MBVIU M3-Brigade Acquisition Vi Co. Sold out 0.00% −0.11
EAT Brinker International Inc. Reduce -20.0% 3.13% +0.08
CALM Cal-Maine Foods Inc. Reduce -16.0% 2.28% +0.17
FURY Fury Gold Mines Ltd. Reduce -15.0% 1.47% +0.17
IREN Iren Ltd. Reduce -4.5% 1.97% +0.21

Portfolio Buys Q4 2025 → Q1 2026
TLT iShares 20+ Year Treasury BD New 5.34% +5.34
WMT Walmart Inc. New 5.11% +5.11
BKD Brookdale Senior Living Inc. New 4.82% +4.82
BAM Brookfield Asset Mgmt-A New 3.96% +3.96
BIPC Brookfield Infrastructure-A New 3.52% +3.52
GIL Gildan Activewear Inc. New 2.97% +2.97
DRVN Driven Brands Holdings Inc. New 2.16% +2.16
MSFT Microsoft Corp. Add +80.0% 4.56% +2.00
POOL Pool Corp. New 1.94% +1.94
BGSI Boyd Group Services Inc. Add +611.1% 2.24% +1.94
CAE Cae Inc. New 1.93% +1.93
TAC Transalta Corp. New 1.88% +1.88
CVE Cenovus Energy Inc. New 1.82% +1.82
PROF Profound Medical Corp. Add +13.8% 9.90% +1.71
OVV Ovintiv Inc. New 1.22% +1.22
GRAL Grail Inc. New 1.06% +1.06
WIX Wix.com Ltd. New 0.99% +0.99
SOBO South Bow Corp. New 0.91% +0.91
PACH Pioneer Acquisition I Class A New 0.83% +0.83
CIGI Colliers Intl GR-Subord Vot New 0.73% +0.73
OBA Oxley Bridge Acquisitio Class A New 0.69% +0.69
MINE Mayfair Gold Corp. New 0.67% +0.67
BROS Dutch Bros Inc. Class A Add +6.7% 3.33% +0.41
GIB Cgi Inc. Add +7.5% 4.31% +0.39
FIGX Figx Capital Acquisition C-A New 0.35% +0.35
GDYN Grid Dynamics Holdings Inc. New 0.20% +0.20
MBVI M3-Brigade Acquisition Class A New 0.14% +0.14

Options Activity Q4 2025 → Q1 2026
SPY SS SPDR S&P 500 ETF Trust-US put Reduce -74.1% 70,000 $45.5M
SLV iShares Silver Trust put New 100,000 $6.8M
PLTR Palantir Technologies Inc. Class A put Reduce -50.0% 10,000 $1.5M

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

Notes & Other Activity Q4 2025 → Q1 2026
PACHW Pioneer Acquisition I Corp. *W EXP 06/16/203 New 30,000 $5K
OBAWW Oxley Bridge Acq Ltd. -30 *W EXP 06/17/203 New 25,000 $5K
FIGXW Figx Capital Acquisition Cor *W EXP 06/17/203 New 12,500 $3K

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

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 44$80.0MPROF, CIGI, MOH, BAX, CAE
Q1 2026 45$73.0MPROF, TLT, WMT, BKD, MSFT
Q4 2025 44$94.2MTU, PROF, EFXT, ELV, ITRN
Q3 2025 39$60.3MIREN, ITRN, BTI, ELV, NOA
Q2 2025 19$28.9MTLT, PROF, SHY, EFXT, BCE
Q1 2025 6$22.8MTLT, PROF, SHY, UBER, INTC
Q4 2024 11$44.5MSHY, TLT, PROF, TAC, RCI
Q3 2024 10$40.5MSHY, TAC, PROF, CVE, CROX
Q2 2024 21$49.7MSHY, PROF, BTE, XPOF, RCI
Q1 2024 29$64.5MPROF, KDP, EFXT, RCI, BTE