Triasima Portfolio Management inc.
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed April 24, 2026), Triasima Portfolio Management inc. reported 137 stock positions worth $661.5 million. Its top holding was Royal Bank of Canada (RY) at 6.2% of the portfolio, followed by Toronto-Dominion Bank (TD, 3.9%) and Can Imperial BK of Commerce (CM, 3.3%). Compared with Q4 2025, it opened 24 new positions, sold out of 30, added to 64 and reduced 40. The biggest buy was a new position in Tfi International (TFII) and the biggest sale Brookfield (BN, shares −84%).
- Most Recent 13F
- Q2 2026
- Location
- MONTREAL, A8
- CIK
- 0001938757
- Portfolio Value
- $661.5M (Q1 2026)
- SEC Filing
- 0001938757-26-000005 ↗ filed Apr 24, 2026
Holdings Value
Holdings 137 stocks · $661.5M
| RY Royal Bank of Canada | 6.16% | 253,012 | $40.8M | Add +5.2% |
| TD Toronto-Dominion Bank | 3.89% | 276,049 | $25.7M | Add +9.9% |
| CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BANK OF CO | 3.30% | 231,237 | $21.8M | Add +3.8% |
| BMO Bank of Montreal filed as BANK MONTREAL MEDIUM | 2.87% | 140,804 | $19.0M | Add +21.2% |
| SHOP Shopify Inc. Class A | 2.78% | 155,216 | $18.4M | Reduce -14.9% |
| KGC Kinross Gold Corp. | 2.33% | 506,825 | $15.4M | Reduce -34.5% |
| TIGO Millicom Intl Cellular S.A. | 2.31% | 203,790 | $15.3M | Add +0.2% |
| FTS Fortis Inc. | 2.15% | 256,307 | $14.3M | Add +2.5% |
| GOOGL Alphabet Inc. Class A | 2.08% | 47,734 | $13.7M | Add +3.1% |
| PAAS Pan American Silver Corp. | 1.84% | 223,230 | $12.2M | Reduce -11.8% |
| HBM Hudbay Minerals Inc. | 1.81% | 573,232 | $12.0M | Reduce -2.0% |
| CCJ Cameco Corp. | 1.78% | 108,916 | $11.8M | Add +2.0% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 1.73% | 71,534 | $11.4M | Add +2.7% |
| TSM Taiwan Semiconductor-SP ADR | 1.66% | 32,469 | $11.0M | Reduce -10.3% |
| MSFT Microsoft Corp. | 1.61% | 28,802 | $10.7M | Add +0.8% |
| CLS Celestica Inc. | 1.59% | 37,317 | $10.5M | Reduce -6.5% |
| CIB Grupo Cibest SA-ADR | 1.58% | 143,502 | $10.4M | Add +2.6% |
| IMO Imperial Oil Ltd. | 1.44% | 72,745 | $9.5M | Reduce -13.4% |
| FER Ferrovial NV | 1.39% | 140,994 | $9.2M | Add +10.6% |
| CVE Cenovus Energy Inc. | 1.38% | 345,352 | $9.1M | Reduce -24.2% |
| NVDA Nvidia Corp. | 1.36% | 51,705 | $9.0M | Reduce -26.9% |
| WELL Welltower Inc. | 1.35% | 45,206 | $8.9M | Add +1.2% |
| BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA B C | 1.34% | 128,680 | $8.9M | Reduce -0.9% |
| NVS Novartis AG-Sponsored ADR | 1.21% | 52,470 | $8.0M | Add +4.6% |
| ENB Enbridge Inc. | 1.19% | 145,470 | $7.9M | Reduce -36.8% |
| TFII Tfi International Inc. filed as TRANSFORCE INC | 1.13% | 68,741 | $7.5M | New |
| BCE Bce Inc. | 1.13% | 296,421 | $7.5M | New |
| AGI Alamos Gold Inc. Class A | 1.06% | 158,513 | $7.0M | Add +1.3% |
| AVGO Broadcom Inc. | 1.05% | 22,376 | $6.9M | Reduce -43.8% |
| GRTUF Granite Real Estate Investme | 1.04% | 117,603 | $6.9M | New |
| GILD Gilead Sciences Inc. | 1.01% | 48,112 | $6.7M | Add +2.0% |
| AER Aercap Holdings NV | 1.00% | 48,321 | $6.6M | Add +11.7% |
| GEV GE Vernova Inc. | 1.00% | 7,560 | $6.6M | Reduce -20.4% |
| FIX Comfort Systems USA Inc. | 0.97% | 4,639 | $6.4M | Add +12.6% |
| GS Goldman Sachs Group Inc. | 0.95% | 7,411 | $6.3M | Add +1.7% |
| AAPL Apple Inc. | 0.94% | 24,477 | $6.2M | Add +32.7% |
| LRCX Lam Research Corp. | 0.93% | 28,863 | $6.2M | Add +12.1% |
| CNI Canadian Natl Railway Co. | 0.93% | 59,950 | $6.2M | Add +54.5% |
| JPM JPMorgan Chase & Co. | 0.92% | 20,761 | $6.1M | Reduce -34.5% |
| MGA Magna International Inc. | 0.90% | 106,440 | $5.9M | Add +3.6% |
| SPG Simon Property Group Inc. | 0.89% | 31,393 | $5.9M | New |
| LLY Eli Lilly & Co. | 0.88% | 6,351 | $5.8M | Add +6.4% |
| UBS UBS Group AG-Reg | 0.88% | 148,260 | $5.8M | Add +2.7% |
| MFC Manulife Financial Corp. | 0.87% | 168,329 | $5.8M | Add +1015.3% |
| WPM Wheaton Precious Metals Corp. | 0.85% | 43,058 | $5.6M | Add +154.8% |
| MCK McKesson Corp. | 0.80% | 6,079 | $5.3M | Add +12.7% |
| CHRW C.H. Robinson Worldwide Inc. | 0.79% | 31,305 | $5.2M | No change |
| INTC Intel Corp. | 0.78% | 116,515 | $5.1M | Add +84.8% |
| SPGI S&P Global Inc. | 0.71% | 10,966 | $4.7M | New |
| KLAC KLA Corp. | 0.70% | 3,130 | $4.6M | Reduce -21.1% |
| EZPW Ezcorp Inc. Class A | 0.69% | 178,960 | $4.5M | Add +4.8% |
| CSCO Cisco Systems Inc. | 0.66% | 56,309 | $4.4M | Add +0.0% |
| AEM Agnico Eagle Mines Ltd. | 0.64% | 20,833 | $4.2M | Reduce -1.7% |
| NXT Nextpower Inc. | 0.63% | 34,442 | $4.2M | Add +0.1% |
| SU Suncor Energy Inc. | 0.62% | 62,114 | $4.1M | Add +1.7% |
| MPWR Monolithic Power Systems Inc. | 0.61% | 3,707 | $4.1M | Add +0.3% |
| ORLA Orla Mining Ltd. filed as ORLA MNG LTD NEW | 0.61% | 249,877 | $4.0M | Add +16.9% |
| BCS Barclays PLC-Spons ADR | 0.61% | 189,165 | $4.0M | Reduce -6.6% |
| BCH Banco DE Chile-ADR | 0.60% | 107,965 | $4.0M | Add +38.7% |
| RCI Rogers Communications Inc. Class B | 0.60% | 103,099 | $4.0M | Add +8.3% |
| MDA Mda Space Ltd. | 0.59% | 155,065 | $3.9M | New |
| AQN Algonquin Power & Utilities | 0.57% | 622,325 | $3.8M | Add +208.5% |
| SOBO South Bow Corp. | 0.57% | 113,460 | $3.8M | Reduce -4.2% |
| VOO Vanguard S&P 500 ETF | 0.57% | 6,292 | $3.8M | Reduce -1.5% |
| CFG Citizens Financial Group | 0.57% | 62,399 | $3.7M | New |
| ALB Albemarle Corp. | 0.55% | 20,086 | $3.6M | Add +23.0% |
| IAG Iamgold Corp. | 0.54% | 190,733 | $3.6M | Reduce -69.3% |
| EFXT Enerflex Ltd. | 0.52% | 163,406 | $3.4M | Add +18.2% |
| PWR Quanta Services Inc. | 0.46% | 5,498 | $3.0M | Add +0.8% |
| IBKR Interactive Brokers Gro Class A | 0.45% | 44,450 | $3.0M | Add +15.7% |
| MDT Medtronic PLC | 0.44% | 33,215 | $2.9M | Reduce -50.1% |
| PH Parker Hannifin Corp. | 0.42% | 3,118 | $2.8M | Add +0.7% |
| JBL Jabil Inc. | 0.42% | 10,490 | $2.8M | New |
| NE Noble Corp. PLC | 0.41% | 55,225 | $2.7M | New |
| ASML ASML Holding NV-NY Reg SHS filed as ASML HLDG NV | 0.40% | 1,996 | $2.6M | Add +30.4% |
| TKO Tko Group Holdings Inc. | 0.40% | 12,966 | $2.6M | Add +2.4% |
| DNN Denison Mines Corp. | 0.39% | 728,509 | $2.6M | Add +1.3% |
| CAE Cae Inc. | 0.39% | 99,009 | $2.6M | Add +338.1% |
| BN Brookfield Corp. | 0.38% | 62,397 | $2.5M | Reduce -84.3% |
| HSLV Highlander Silver Corp. | 0.37% | 422,804 | $2.5M | New |
| ARIS Aris Mining Corp. | 0.36% | 130,234 | $2.4M | Reduce -27.9% |
| TXN Texas Instruments Inc. | 0.36% | 12,191 | $2.4M | New |
| NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD | 0.35% | 163,238 | $2.3M | Reduce -0.1% |
| HBAN Huntington Bancshares Inc. | 0.35% | 149,505 | $2.3M | New |
| PAC Grupo Aeroportuario Pac-ADR | 0.35% | 9,417 | $2.3M | Add +8.6% |
| EXC Exelon Corp. | 0.34% | 46,355 | $2.3M | Reduce -0.0% |
| WSM Williams-Sonoma Inc. | 0.34% | 12,275 | $2.2M | New |
| ECL Ecolab Inc. | 0.33% | 8,131 | $2.2M | Add +5.4% |
| LITE Lumentum Holdings Inc. | 0.32% | 3,006 | $2.1M | New |
| ELVA Electrovaya Inc. | 0.32% | 270,615 | $2.1M | Add +66.5% |
| DOO BRP Inc./Ca- Sub Voting | 0.30% | 28,005 | $2.0M | Reduce -64.3% |
| QSR Restaurant Brands Intern | 0.30% | 26,800 | $2.0M | New |
| GIL Gildan Activewear Inc. | 0.28% | 32,840 | $1.8M | Reduce -52.8% |
| IBP Installed Building Products | 0.25% | 6,272 | $1.7M | New |
| CNQ Canadian Natural Resources | 0.24% | 32,882 | $1.6M | Add +4.1% |
| RSG Republic Services Inc. | 0.24% | 7,121 | $1.6M | Add +63.2% |
| EFA iShares MSCI Eafe ETF | 0.23% | 15,718 | $1.5M | Reduce -6.2% |
| APH Amphenol Corp. Class A | 0.23% | 12,001 | $1.5M | Add +5.5% |
| POWL Powell Industries Inc. | 0.22% | 2,655 | $1.4M | Add +1.1% |
| META Meta Platforms Inc. Class A | 0.20% | 2,344 | $1.3M | Reduce -69.0% |
Portfolio Sells Q4 2025 → Q1 2026
| BN Brookfield Corp. | Reduce -84.3% | 0.38% | −2.36 |
| SHOP Shopify Inc. Class A | Reduce -14.9% | 2.78% | −1.63 |
| BABA Alibaba Group Holding-SP ADR | Sold out | 0.00% | −1.13 |
| AVGO Broadcom Inc. | Reduce -43.8% | 1.05% | −1.02 |
| IAG Iamgold Corp. | Reduce -69.3% | 0.54% | −1.00 |
| KGC Kinross Gold Corp. | Reduce -34.5% | 2.33% | −0.94 |
| EVR Evercore Inc. Class A | Sold out | 0.00% | −0.67 |
| FSLR First Solar Inc. | Sold out | 0.00% | −0.63 |
| NVDA Nvidia Corp. | Reduce -26.9% | 1.36% | −0.61 |
| JPM JPMorgan Chase & Co. | Reduce -34.5% | 0.92% | −0.61 |
| META Meta Platforms Inc. Class A | Reduce -69.0% | 0.20% | −0.54 |
| RKT Rocket Cos Inc. Class A | Reduce -88.9% | 0.05% | −0.53 |
| DOO BRP Inc./Ca- Sub Voting | Reduce -64.3% | 0.30% | −0.53 |
| MDT Medtronic PLC | Reduce -50.1% | 0.44% | −0.52 |
| ENB Enbridge Inc. | Reduce -36.8% | 1.19% | −0.46 |
| AMD Advanced Micro Devices | Sold out | 0.00% | −0.46 |
| ROL Rollins Inc. | Sold out | 0.00% | −0.43 |
| ABBV Abbvie Inc. | Sold out | 0.00% | −0.42 |
| VZLA Vizsla Silver Corp. | Reduce -94.6% | 0.01% | −0.41 |
| ANET Arista Networks Inc. | Reduce -66.6% | 0.18% | −0.39 |
| XPEV Xpeng Inc. - ADR | Sold out | 0.00% | −0.38 |
| GIL Gildan Activewear Inc. | Reduce -52.8% | 0.28% | −0.38 |
| PANW Palo Alto Networks Inc. | Sold out | 0.00% | −0.37 |
| NET Cloudflare Inc. Class A | Sold out | 0.00% | −0.36 |
| BNT Brookfield Wealth Solutions | Sold out | 0.00% | −0.26 |
| STN Stantec Inc. | Sold out | 0.00% | −0.25 |
| DB Deutsche Bank AG-Registered | Sold out | 0.00% | −0.24 |
| MRVL Marvell Technology Inc. | Sold out | 0.00% | −0.21 |
| TRI Thomson Reuters Corp. | Sold out | 0.00% | −0.19 |
| CLS Celestica Inc. | Reduce -6.5% | 1.59% | −0.18 |
| CRWD CrowdStrike Holdings Inc. Class A | Sold out | 0.00% | −0.18 |
| TTWO Take-Two Interactive Softwre | Sold out | 0.00% | −0.18 |
| BCS Barclays PLC-Spons ADR | Reduce -6.6% | 0.61% | −0.17 |
| V Visa Inc. Class A | Sold out | 0.00% | −0.15 |
| MA Mastercard Inc. Class A | Reduce -61.6% | 0.07% | −0.14 |
| CEG Constellation Energy | Sold out | 0.00% | −0.13 |
| PAAS Pan American Silver Corp. | Reduce -11.8% | 1.84% | −0.13 |
| BNS Bank of Nova Scotia | Reduce -0.9% | 1.34% | −0.09 |
| VEEV Veeva Systems Inc. Class A | Sold out | 0.00% | −0.08 |
| NGD New Gold Inc. | Sold out | 0.00% | −0.08 |
| SPOT Spotify Technology SA | Sold out | 0.00% | −0.08 |
| ARIS Aris Mining Corp. | Reduce -27.9% | 0.36% | −0.07 |
| ORLY O'reilly Automotive Inc. | Reduce -64.3% | 0.04% | −0.06 |
| NU Nu Holdings Ltd./Cayman Isl-A | Reduce -0.1% | 0.35% | −0.06 |
| MNDY Monday.com Ltd. | Sold out | 0.00% | −0.05 |
| GSY Invesco Ultra Short Duration | Sold out | 0.00% | −0.05 |
| PFGC Performance Food Group Co. | Sold out | 0.00% | −0.05 |
| CIGI Colliers Intl GR-Subord Vot | Sold out | 0.00% | −0.05 |
| MELI MercadoLibre Inc. | Reduce -20.8% | 0.09% | −0.04 |
| SSRM SSR Mining Inc. | Sold out | 0.00% | −0.04 |
Portfolio Buys Q4 2025 → Q1 2026
| TFII Tfi International Inc. | New | 1.13% | +1.13 |
| BCE Bce Inc. | New | 1.13% | +1.13 |
| GRTUF Granite Real Estate Investme | New | 1.04% | +1.04 |
| SPG Simon Property Group Inc. | New | 0.89% | +0.89 |
| MFC Manulife Financial Corp. | Add +1015.3% | 0.87% | +0.79 |
| SPGI S&P Global Inc. | New | 0.71% | +0.71 |
| TIGO Millicom Intl Cellular S.A. | Add +0.2% | 2.31% | +0.62 |
| BMO Bank of Montreal | Add +21.2% | 2.87% | +0.61 |
| MDA Mda Space Ltd. | New | 0.59% | +0.59 |
| CFG Citizens Financial Group | New | 0.57% | +0.57 |
| WPM Wheaton Precious Metals Corp. | Add +154.8% | 0.85% | +0.55 |
| INTC Intel Corp. | Add +84.8% | 0.78% | +0.43 |
| JBL Jabil Inc. | New | 0.42% | +0.42 |
| NE Noble Corp. PLC | New | 0.41% | +0.41 |
| FIX Comfort Systems USA Inc. | Add +12.6% | 0.97% | +0.39 |
| AQN Algonquin Power & Utilities | Add +208.5% | 0.57% | +0.39 |
| HSLV Highlander Silver Corp. | New | 0.37% | +0.37 |
| TXN Texas Instruments Inc. | New | 0.36% | +0.36 |
| CNI Canadian Natl Railway Co. | Add +54.5% | 0.93% | +0.35 |
| HBAN Huntington Bancshares Inc. | New | 0.35% | +0.35 |
| WSM Williams-Sonoma Inc. | New | 0.34% | +0.34 |
| TD Toronto-Dominion Bank | Add +9.9% | 3.89% | +0.34 |
| LITE Lumentum Holdings Inc. | New | 0.32% | +0.32 |
| CCJ Cameco Corp. | Add +2.0% | 1.78% | +0.32 |
| QSR Restaurant Brands Intern | New | 0.30% | +0.30 |
| CAE Cae Inc. | Add +338.1% | 0.39% | +0.29 |
| CM Can Imperial BK of Commerce | Add +3.8% | 3.30% | +0.28 |
| LRCX Lam Research Corp. | Add +12.1% | 0.93% | +0.27 |
| IBP Installed Building Products | New | 0.25% | +0.25 |
| CIB Grupo Cibest SA-ADR | Add +2.6% | 1.58% | +0.25 |
| SU Suncor Energy Inc. | Add +1.7% | 0.62% | +0.21 |
| FTS Fortis Inc. | Add +2.5% | 2.15% | +0.20 |
| ALB Albemarle Corp. | Add +23.0% | 0.55% | +0.20 |
| EFXT Enerflex Ltd. | Add +18.2% | 0.52% | +0.20 |
| NTR Nutrien Ltd. | New | 0.19% | +0.19 |
| EZPW Ezcorp Inc. Class A | Add +4.8% | 0.69% | +0.19 |
| AAPL Apple Inc. | Add +32.7% | 0.94% | +0.19 |
| NXT Nextpower Inc. | Add +0.1% | 0.63% | +0.18 |
| NVS Novartis AG-Sponsored ADR | Add +4.6% | 1.21% | +0.18 |
| ORLA Orla Mining Ltd. | Add +16.9% | 0.61% | +0.17 |
| BCH Banco DE Chile-ADR | Add +38.7% | 0.60% | +0.16 |
| AGI Alamos Gold Inc. Class A | Add +1.3% | 1.06% | +0.16 |
| ASML ASML Holding NV-NY Reg SHS | Add +30.4% | 0.40% | +0.15 |
| FER Ferrovial NV | Add +10.6% | 1.39% | +0.15 |
| GILD Gilead Sciences Inc. | Add +2.0% | 1.01% | +0.15 |
| RIG Transocean Ltd. | New | 0.14% | +0.14 |
| MCK McKesson Corp. | Add +12.7% | 0.80% | +0.13 |
| ELVA Electrovaya Inc. | Add +66.5% | 0.32% | +0.13 |
| TJX TJX Companies Inc. | Add +2.7% | 1.73% | +0.12 |
| CACI Caci International Inc. Class A | Add +246.6% | 0.17% | +0.12 |
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 |