Triasima Portfolio Management inc.
In its 13F for Q2 2026 (holdings as of June 30, 2026, filed July 21, 2026), Triasima Portfolio Management inc. reported 127 stock positions worth $740.3 million. Its top holding was Royal Bank of Canada (RY) at 7.1% of the portfolio, followed by Toronto-Dominion Bank (TD, 5.0%) and Can Imperial BK of Commerce (CM, 3.8%). Compared with Q1 2026, it opened 19 new positions, sold out of 29, added to 55 and reduced 41. The biggest buy was a new position in Royalty Pharma Class A (RPRX) and the biggest sale Shopify Class A (SHOP, shares −66%).
- Most Recent 13F
- Q2 2026
- Location
- MONTREAL, A8
- CIK
- 0001938757
- Portfolio Value
- $740.3M (Q2 2026)
- SEC Filing
- 0001938757-26-000008 ↗ filed Jul 21, 2026
Holdings Value
Holdings 127 stocks · $740.3M
| RY Royal Bank of Canada | 7.13% | 255,069 | $52.8M | Add +0.8% |
| TD Toronto-Dominion Bank | 5.02% | 306,074 | $37.2M | Add +10.9% |
| CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BANK OF CO | 3.79% | 243,652 | $28.0M | Add +5.4% |
| BMO Bank of Montreal filed as BANK MONTREAL MEDIUM | 3.67% | 153,984 | $27.2M | Add +9.4% |
| TIGO Millicom Intl Cellular S.A. | 2.51% | 204,624 | $18.6M | Add +0.4% |
| GOOGL Alphabet Inc. Class A | 2.32% | 47,985 | $17.1M | Add +0.5% |
| TSM Taiwan Semiconductor-SP ADR | 2.16% | 33,457 | $16.0M | Add +3.0% |
| FTS Fortis Inc. | 2.04% | 263,190 | $15.1M | Add +2.7% |
| HBM Hudbay Minerals Inc. | 1.80% | 563,547 | $13.3M | Reduce -1.7% |
| CNI Canadian Natl Railway Co. | 1.73% | 107,420 | $12.8M | Add +79.2% |
| LLY Eli Lilly & Co. | 1.63% | 10,046 | $12.0M | Add +58.2% |
| CLS Celestica Inc. | 1.59% | 32,199 | $11.7M | Reduce -13.7% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 1.52% | 74,259 | $11.3M | Add +3.8% |
| BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA B C | 1.51% | 128,680 | $11.2M | No change |
| WELL Welltower Inc. | 1.48% | 48,359 | $11.0M | Add +7.0% |
| LRCX Lam Research Corp. | 1.48% | 25,293 | $11.0M | Reduce -12.4% |
| AAPL Apple Inc. | 1.44% | 36,826 | $10.7M | Add +50.5% |
| MSFT Microsoft Corp. | 1.43% | 28,430 | $10.6M | Reduce -1.3% |
| TFII Tfi International Inc. | 1.41% | 72,751 | $10.5M | Add +5.8% |
| NVDA Nvidia Corp. | 1.40% | 51,649 | $10.3M | Reduce -0.1% |
| RPRX Royalty Pharma PLC Class A | 1.37% | 180,710 | $10.1M | New |
| CIB Grupo Cibest SA-ADR | 1.32% | 123,151 | $9.8M | Reduce -14.2% |
| ENB Enbridge Inc. | 1.30% | 177,163 | $9.6M | Add +21.8% |
| SPG Simon Property Group Inc. | 1.29% | 42,583 | $9.5M | Add +35.6% |
| KLAC KLA Corp. | 1.28% | 31,300 | $9.4M | No change |
| IBKR Interactive Brokers Gro Class A | 1.21% | 102,684 | $8.9M | Add +131.0% |
| INTC Intel Corp. | 1.17% | 61,940 | $8.6M | Reduce -46.8% |
| CCJ Cameco Corp. | 1.16% | 84,052 | $8.6M | Reduce -22.8% |
| AVGO Broadcom Inc. | 1.15% | 22,617 | $8.5M | Add +1.1% |
| GS Goldman Sachs Group Inc. | 1.15% | 8,447 | $8.5M | Add +14.0% |
| MGA Magna International Inc. | 1.14% | 128,240 | $8.4M | Add +20.5% |
| KGC Kinross Gold Corp. | 1.13% | 354,983 | $8.4M | Reduce -30.0% |
| CVE Cenovus Energy Inc. | 1.09% | 323,882 | $8.0M | Reduce -6.2% |
| MDA Mda Space Ltd. | 1.08% | 192,919 | $8.0M | Add +24.4% |
| FIX Comfort Systems USA Inc. | 1.04% | 3,869 | $7.7M | Reduce -16.6% |
| UBS UBS Group AG-Reg | 1.03% | 154,449 | $7.7M | Add +4.2% |
| MFC Manulife Financial Corp. | 1.01% | 184,858 | $7.5M | Add +9.8% |
| GEV GE Vernova Inc. | 1.00% | 6,302 | $7.4M | Reduce -16.6% |
| CSCO Cisco Systems Inc. | 0.97% | 61,389 | $7.2M | Add +9.0% |
| FER Ferrovial NV | 0.97% | 105,043 | $7.2M | Reduce -25.5% |
| AER Aercap Holdings NV | 0.95% | 48,416 | $7.1M | Add +0.2% |
| NVS Novartis AG-Sponsored ADR | 0.95% | 44,755 | $7.0M | Reduce -14.7% |
| PAAS Pan American Silver Corp. | 0.94% | 155,520 | $7.0M | Reduce -30.3% |
| CNQ Canadian Natural Resources | 0.89% | 166,100 | $6.6M | Add +405.1% |
| CFG Citizens Financial Group | 0.87% | 92,429 | $6.5M | Add +48.1% |
| EFXT Enerflex Ltd. | 0.86% | 260,824 | $6.4M | Add +59.6% |
| EZPW Ezcorp Inc. Class A | 0.83% | 178,150 | $6.2M | Reduce -0.5% |
| SHOP Shopify Inc. Class A | 0.82% | 52,977 | $6.1M | Reduce -65.9% |
| PWR Quanta Services Inc. | 0.81% | 8,358 | $6.0M | Add +52.0% |
| CHRW C.H. Robinson Worldwide Inc. | 0.80% | 31,305 | $5.9M | No change |
| GILD Gilead Sciences Inc. | 0.77% | 45,238 | $5.7M | Reduce -6.0% |
| JPM JPMorgan Chase & Co. | 0.77% | 17,419 | $5.7M | Reduce -16.1% |
| IMO Imperial Oil Ltd. | 0.77% | 50,745 | $5.7M | Reduce -30.2% |
| TXN Texas Instruments Inc. | 0.73% | 18,066 | $5.4M | Add +48.2% |
| MPWR Monolithic Power Systems Inc. | 0.69% | 3,707 | $5.1M | No change |
| ASML ASML Holding NV-NY Reg SHS filed as ASML HLDG NV | 0.69% | 2,571 | $5.1M | Add +28.8% |
| BCS Barclays PLC-Spons ADR | 0.66% | 182,245 | $4.9M | Reduce -3.7% |
| WPM Wheaton Precious Metals Corp. | 0.65% | 42,748 | $4.8M | Reduce -0.7% |
| SOBO South Bow Corp. | 0.60% | 127,160 | $4.5M | Add +12.1% |
| NXT Nextpower Inc. | 0.60% | 37,123 | $4.4M | Add +7.8% |
| BWA Borgwarner Inc. | 0.58% | 64,190 | $4.3M | New |
| VOO Vanguard S&P 500 ETF | 0.57% | 6,102 | $4.2M | Reduce -3.0% |
| JBL Jabil Inc. | 0.55% | 10,515 | $4.1M | Add +0.2% |
| NOK Nokia Corp.-Spon ADR | 0.48% | 266,135 | $3.5M | New |
| CVS CVS Health Corp. | 0.46% | 32,715 | $3.4M | New |
| RL Ralph Lauren Corp. | 0.42% | 7,775 | $3.1M | New |
| TRP TC Energy Corp. | 0.42% | 46,770 | $3.1M | New |
| PBA Pembina Pipeline Corp. | 0.41% | 66,050 | $3.1M | New |
| IAG Iamgold Corp. | 0.41% | 190,733 | $3.0M | No change |
| TGT Target Corp. | 0.41% | 23,080 | $3.0M | New |
| HBAN Huntington Bancshares Inc. | 0.40% | 167,905 | $3.0M | Add +12.3% |
| ELVA Electrovaya Inc. | 0.39% | 276,776 | $2.9M | Add +2.3% |
| WSM Williams-Sonoma Inc. | 0.39% | 12,275 | $2.9M | No change |
| BCE Bce Inc. | 0.38% | 130,932 | $2.8M | Reduce -55.8% |
| CGNX Cognex Corp. | 0.33% | 33,583 | $2.4M | New |
| DNN Denison Mines Corp. | 0.31% | 741,091 | $2.3M | Add +1.7% |
| POWL Powell Industries Inc. | 0.30% | 7,719 | $2.2M | Reduce -3.1% |
| SU Suncor Energy Inc. | 0.30% | 40,785 | $2.2M | Reduce -34.3% |
| MEOH Methanex Corp. | 0.29% | 46,852 | $2.2M | New |
| APH Amphenol Corp. Class A | 0.29% | 12,239 | $2.2M | Add +2.0% |
| RCI Rogers Communications Inc. Class B | 0.29% | 65,751 | $2.1M | Reduce -36.2% |
| AMZN Amazon.com Inc. | 0.28% | 8,608 | $2.1M | Add +57.9% |
| HSLV Highlander Silver Corp. | 0.27% | 428,593 | $2.0M | Add +1.4% |
| BELFA Bel Fuse Inc. Class A | 0.27% | 6,902 | $2.0M | Add +296.2% |
| QSR Restaurant Brands Intern | 0.26% | 26,800 | $1.9M | No change |
| ORLA Orla Mining Ltd. filed as ORLA MNG LTD NEW | 0.25% | 191,800 | $1.9M | Reduce -23.2% |
| ANET Arista Networks Inc. | 0.23% | 10,143 | $1.7M | Add +3.3% |
| NTR Nutrien Ltd. | 0.23% | 26,992 | $1.7M | Add +60.4% |
| EFA iShares MSCI Eafe ETF | 0.22% | 16,023 | $1.7M | Add +1.9% |
| TECK Teck Resources Ltd.-CLS B | 0.22% | 27,450 | $1.6M | New |
| BCH Banco DE Chile-ADR | 0.21% | 38,915 | $1.5M | Reduce -64.0% |
| BWXT BWX Technologies Inc. | 0.20% | 7,744 | $1.5M | Add +194.0% |
| ARIS Aris Mining Corp. | 0.19% | 92,410 | $1.4M | Reduce -29.0% |
| GOOG Alphabet Inc. Class C | 0.18% | 3,787 | $1.3M | No change |
| AEM Agnico Eagle Mines Ltd. | 0.18% | 8,384 | $1.3M | Reduce -59.8% |
| CSX CSX Corp. | 0.17% | 26,440 | $1.3M | Add +138.2% |
| AEP American Electric Power | 0.17% | 9,099 | $1.2M | New |
| SPHR Sphere Entertainment Co. | 0.16% | 6,850 | $1.2M | Add +224.8% |
| AMAT Applied Materials Inc. | 0.15% | 1,577 | $1.1M | New |
| CP Canadian Pacific Kansas City | 0.15% | 12,915 | $1.1M | Add +76.0% |
Portfolio Sells Q1 2026 → Q2 2026
| SHOP Shopify Inc. Class A | Reduce -65.9% | 0.82% | −1.96 |
| KGC Kinross Gold Corp. | Reduce -30.0% | 1.13% | −1.20 |
| GRTUF Granite Real Estate Investme | Sold out | 0.00% | −1.04 |
| AGI Alamos Gold Inc. Class A | Reduce -95.6% | 0.03% | −1.03 |
| PAAS Pan American Silver Corp. | Reduce -30.3% | 0.94% | −0.90 |
| BCE Bce Inc. | Reduce -55.8% | 0.38% | −0.75 |
| MCK McKesson Corp. | Reduce -90.8% | 0.06% | −0.74 |
| SPGI S&P Global Inc. | Sold out | 0.00% | −0.71 |
| IMO Imperial Oil Ltd. | Reduce -30.2% | 0.77% | −0.67 |
| CCJ Cameco Corp. | Reduce -22.8% | 1.16% | −0.63 |
| AQN Algonquin Power & Utilities | Sold out | 0.00% | −0.57 |
| ALB Albemarle Corp. | Sold out | 0.00% | −0.55 |
| AEM Agnico Eagle Mines Ltd. | Reduce -59.8% | 0.18% | −0.46 |
| MDT Medtronic PLC | Sold out | 0.00% | −0.44 |
| PH Parker Hannifin Corp. | Sold out | 0.00% | −0.42 |
| FER Ferrovial NV | Reduce -25.5% | 0.97% | −0.41 |
| NE Noble Corp. PLC | Sold out | 0.00% | −0.41 |
| BCH Banco DE Chile-ADR | Reduce -64.0% | 0.21% | −0.40 |
| CAE Cae Inc. | Sold out | 0.00% | −0.39 |
| TKO Tko Group Holdings Inc. | Reduce -90.9% | 0.03% | −0.36 |
| NU Nu Holdings Ltd./Cayman Isl-A | Sold out | 0.00% | −0.35 |
| ORLA Orla Mining Ltd. | Reduce -23.2% | 0.25% | −0.35 |
| PAC Grupo Aeroportuario Pac-ADR | Sold out | 0.00% | −0.35 |
| EXC Exelon Corp. | Sold out | 0.00% | −0.34 |
| ECL Ecolab Inc. | Sold out | 0.00% | −0.33 |
| SU Suncor Energy Inc. | Reduce -34.3% | 0.30% | −0.32 |
| LITE Lumentum Holdings Inc. | Sold out | 0.00% | −0.32 |
| RCI Rogers Communications Inc. Class B | Reduce -36.2% | 0.29% | −0.31 |
| DOO BRP Inc./Ca- Sub Voting | Sold out | 0.00% | −0.30 |
| CVE Cenovus Energy Inc. | Reduce -6.2% | 1.09% | −0.30 |
| NVS Novartis AG-Sponsored ADR | Reduce -14.7% | 0.95% | −0.26 |
| CIB Grupo Cibest SA-ADR | Reduce -14.2% | 1.32% | −0.26 |
| BN Brookfield Corp. | Reduce -65.3% | 0.12% | −0.26 |
| IBP Installed Building Products | Sold out | 0.00% | −0.25 |
| GILD Gilead Sciences Inc. | Reduce -6.0% | 0.77% | −0.24 |
| RSG Republic Services Inc. | Sold out | 0.00% | −0.24 |
| GIL Gildan Activewear Inc. | Reduce -70.3% | 0.07% | −0.21 |
| WPM Wheaton Precious Metals Corp. | Reduce -0.7% | 0.65% | −0.20 |
| MSFT Microsoft Corp. | Reduce -1.3% | 1.43% | −0.18 |
| ARIS Aris Mining Corp. | Reduce -29.0% | 0.19% | −0.18 |
| CACI Caci International Inc. Class A | Sold out | 0.00% | −0.17 |
| JPM JPMorgan Chase & Co. | Reduce -16.1% | 0.77% | −0.15 |
| META Meta Platforms Inc. Class A | Reduce -65.8% | 0.06% | −0.14 |
| RIG Transocean Ltd. | Sold out | 0.00% | −0.14 |
| VNET Vnet Group Inc.-ADR | Sold out | 0.00% | −0.10 |
| MELI MercadoLibre Inc. | Sold out | 0.00% | −0.09 |
| MCD McDonald's Corp. | Sold out | 0.00% | −0.08 |
| QXO Qxo Inc. | Sold out | 0.00% | −0.07 |
| MA Mastercard Inc. Class A | Sold out | 0.00% | −0.07 |
| COR Cencora Inc. | Reduce -19.9% | 0.12% | −0.07 |
Portfolio Buys Q1 2026 → Q2 2026
| RPRX Royalty Pharma PLC Class A | New | 1.37% | +1.37 |
| TD Toronto-Dominion Bank | Add +10.9% | 5.02% | +1.14 |
| RY Royal Bank of Canada | Add +0.8% | 7.13% | +0.97 |
| CNI Canadian Natl Railway Co. | Add +79.2% | 1.73% | +0.80 |
| BMO Bank of Montreal | Add +9.4% | 3.67% | +0.80 |
| IBKR Interactive Brokers Gro Class A | Add +131.0% | 1.21% | +0.76 |
| LLY Eli Lilly & Co. | Add +58.2% | 1.63% | +0.74 |
| CNQ Canadian Natural Resources | Add +405.1% | 0.89% | +0.65 |
| BWA Borgwarner Inc. | New | 0.58% | +0.58 |
| AAPL Apple Inc. | Add +50.5% | 1.44% | +0.50 |
| TSM Taiwan Semiconductor-SP ADR | Add +3.0% | 2.16% | +0.50 |
| CM Can Imperial BK of Commerce | Add +5.4% | 3.79% | +0.49 |
| MDA Mda Space Ltd. | Add +24.4% | 1.08% | +0.48 |
| NOK Nokia Corp.-Spon ADR | New | 0.48% | +0.48 |
| CVS CVS Health Corp. | New | 0.46% | +0.46 |
| RL Ralph Lauren Corp. | New | 0.42% | +0.42 |
| TRP TC Energy Corp. | New | 0.42% | +0.42 |
| PBA Pembina Pipeline Corp. | New | 0.41% | +0.41 |
| TGT Target Corp. | New | 0.41% | +0.41 |
| SPG Simon Property Group Inc. | Add +35.6% | 1.29% | +0.40 |
| TXN Texas Instruments Inc. | Add +48.2% | 0.73% | +0.37 |
| PWR Quanta Services Inc. | Add +52.0% | 0.81% | +0.36 |
| EFXT Enerflex Ltd. | Add +59.6% | 0.86% | +0.35 |
| CGNX Cognex Corp. | New | 0.33% | +0.33 |
| CSCO Cisco Systems Inc. | Add +9.0% | 0.97% | +0.31 |
| CFG Citizens Financial Group | Add +48.1% | 0.87% | +0.31 |
| MEOH Methanex Corp. | New | 0.29% | +0.29 |
| ASML ASML Holding NV-NY Reg SHS | Add +28.8% | 0.69% | +0.29 |
| TFII Tfi International Inc. | Add +5.8% | 1.41% | +0.29 |
| MGA Magna International Inc. | Add +20.5% | 1.14% | +0.24 |
| GOOGL Alphabet Inc. Class A | Add +0.5% | 2.32% | +0.24 |
| BELFA Bel Fuse Inc. Class A | Add +296.2% | 0.27% | +0.22 |
| TECK Teck Resources Ltd.-CLS B | New | 0.22% | +0.22 |
| GS Goldman Sachs Group Inc. | Add +14.0% | 1.15% | +0.21 |
| TIGO Millicom Intl Cellular S.A. | Add +0.4% | 2.51% | +0.20 |
| AEP American Electric Power | New | 0.17% | +0.17 |
| UBS UBS Group AG-Reg | Add +4.2% | 1.03% | +0.16 |
| AMAT Applied Materials Inc. | New | 0.15% | +0.15 |
| CASY Casey's General Stores Inc. | New | 0.14% | +0.14 |
| MFC Manulife Financial Corp. | Add +9.8% | 1.01% | +0.14 |
| WELL Welltower Inc. | Add +7.0% | 1.48% | +0.13 |
| JBL Jabil Inc. | Add +0.2% | 0.55% | +0.13 |
| SPHR Sphere Entertainment Co. | Add +224.8% | 0.16% | +0.12 |
| BWXT BWX Technologies Inc. | Add +194.0% | 0.20% | +0.12 |
| ENB Enbridge Inc. | Add +21.8% | 1.30% | +0.11 |
| AVGO Broadcom Inc. | Add +1.1% | 1.15% | +0.11 |
| AMZN Amazon.com Inc. | Add +57.9% | 0.28% | +0.11 |
| VOD Vodafone Group PLC-SP ADR | New | 0.11% | +0.11 |
| CSX CSX Corp. | Add +138.2% | 0.17% | +0.10 |
| FITB Fifth Third Bancorp | Add +105.4% | 0.14% | +0.08 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 127 | $740.3M | RY, TD, CM, BMO, TIGO |
| Q1 2026 | 137 | $661.5M | RY, TD, CM, BMO, SHOP |
| Q4 2025 | 143 | $667.7M | RY, SHOP, TD, KGC, CM |
| Q3 2025 | 149 | $662.6M | RY, SHOP, KGC, BN, CLS |
| Q2 2025 | 128 | $547.2M | RY, BN, SHOP, CLS, CM |
| Q1 2025 | 144 | $508.2M | RY, BN, AGI, KGC, SHOP |
| Q4 2024 | 144 | $515.3M | RY, BN, CM, KGC, BNS |
| Q3 2024 | 85 | $444.9M | RY, BN, CM, KGC, PBA |
| Q2 2024 | 139 | $1.1B | RY, CNQ, BN, CM, MFC |
| Q1 2024 | 138 | $1.2B | RY, SHOP, CNQ, BMO, TD |