Tfi InternationalTFII

13F holders, Q3 2024 (September 30)
290holders +18
39new positions
21sold out
5famous investors
$137.06avg. 13F price*

At the end of Q3 2024, 290 institutions reported holding Tfi International Inc. (TFII) in their 13F filings, up 18 from Q2 2024. 39 opened new positions and 21 sold out. The largest holders were Capital Research Global Investors ($1.1B), FIL Ltd ($559.1M) and Janus Henderson Group PLC ($520.2M). 5 famous investors held it, including Prem Watsa (0.2% of Fairfax Financial Holdings's portfolio), Israel Englander (0.0% of Millennium Management's portfolio) and Steve Cohen (0.0% of Point72 Asset Management's portfolio).

Company
Tfi International Inc.
CUSIP
87241L109
Latest filing quarter
Q2 2026

History

Number of 13F holders

0100200300 Q1 2024: 288Q1 2024Q2 2024: 272Q2 2024Q3 2024: 290Q3 2024Q4 2024: 295Q4 2024Q1 2025: 256Q1 2025Q2 2025: 254Q2 2025Q3 2025: 235Q3 2025Q4 2025: 233Q4 2025Q1 2026: 249Q1 2026Q2 2026: 292Q2 2026

Total Exit/New Position Q2 2024 → Q3 2024

InstitutionsTotal Value
New Positions39$67.2M
Exits21$35.0M

All 13F filers, Q2 2024 → Q3 2024: 4,466,962 shares bought and 4,152,691 shares sold, net +314,271 shares. Counts holders who added, trimmed, opened or closed a position; split-adjusted.

Ownership 290 holders

Capital Research Global Investors 0.22% Reduce -0.5% 7,766,962 $1.1B
FIL Ltd 0.51% Add +36.9% 4,081,871 $559.1M
Janus Henderson Group PLC 0.27% Reduce -0.0% 3,800,093 $520.2M
Capital International Investors 0.09% Reduce -32.8% 3,468,868 $475.7M
Caisse de depot et placement du Quebec 0.92% Add +28.3% 3,380,696 $463.6M
Wellington Management Group LLP 0.08% Add +18.9% 3,377,211 $463.1M
FMR LLC 0.03% Reduce -10.3% 3,295,070 $451.3M
Vanguard Group Inc. 0.01% Add +1.4% 3,170,179 $434.2M
Royal Bank of Canada 0.06% Add +0.2% 1,813,444 $248.2M
Manufacturers Life Insurance Company, The 0.20% Add +7.1% 1,658,357 $227.3M
Federation des caisses Desjardins du Quebec 0.89% Reduce -8.1% 1,312,907 $179.5M
Norges Bank 0.02% Add +0.9% 1,253,964 $171.7M
1832 Asset Management L.P. 0.29% Add +6.5% 1,248,126 $170.9M
Bank of America Corp. 0.01% Add +18.9% 1,195,115 $163.6M
Turtle Creek Asset Management Inc. 3.28% Add +0.7% 997,976 $136.6M
National Bank of Canada 0.15% Reduce -3.5% 848,965 $116.2M
Arrowstreet Capital, Limited Partnership 0.10% Add +41.4% 819,034 $112.1M
Bank of Montreal 0.05% Reduce -7.9% 769,192 $105.8M
Capital International, Inc. 1.19% Reduce -28.3% 690,283 $94.6M
Dixon Mitchell Investment Counsel Inc. 3.38% Add +0.4% 539,815 $74.2M
Mackenzie Financial Corp. 0.10% Add +0.1% 517,143 $70.8M
Cibc World Market Inc. 0.15% Reduce -6.7% 472,748 $64.8M
Capital World Investors 0.01% Add +0.1% 446,076 $61.1M
Maple Rock Capital Partners Inc. 3.40% Add +43.8% 436,999 $59.8M
Baskin Financial Services Inc. 4.61% Reduce -1.1% 411,411 $56.3M
TD Asset Management Inc 0.05% Add +0.1% 385,914 $53.2M
CDAM (UK) Ltd 7.52% Reduce -9.6% 371,902 $50.9M
Geode Capital Management, LLC 0.00% Add +6.8% 356,808 $49.3M
Scotia Capital Inc. 0.25% Add +4.1% 342,339 $46.8M
JPMorgan Chase & Co. 0.00% Reduce -0.4% 340,266 $46.6M
Agf Management Ltd. 0.23% Add +191.4% 324,925 $44.5M
Legal & General Group Plc 0.01% Add +1.9% 307,405 $42.2M
Morgan Stanley 0.00% Reduce -2.0% 299,858 $41.0M
William Blair Investment Management, LLC 0.10% Reduce -1.7% 283,220 $38.8M
Hood River Capital Management LLC 0.54% Add +13.9% 244,864 $33.5M
Alberta Investment Management Corp 0.30% Add +7.8% 243,616 $33.4M
Swiss National Bank 0.02% Add +1.0% 243,000 $33.3M
Nuveen Asset Management, LLC 0.01% Add +30.9% 241,056 $33.1M
Canada Pension Plan Investment Board 0.03% No change 233,855 $32.1M
Vaughan Nelson Investment Management, L.P. 0.27% Reduce -17.0% 219,005 $30.0M
QV Investors Inc. 2.64% New 217,980 $29.9M
CIBC Asset Management Inc 0.10% Reduce -22.2% 211,548 $29.8M
Franklin Resources Inc. 0.01% Add +1.3% 201,517 $28.5M
Fiera Capital Corp 0.08% No change 202,090 $27.7M
TD Waterhouse Canada Inc. 0.22% Reduce -9.7% 200,479 $26.8M
Charles Schwab Investment Management Inc. 0.01% Add +0.1% 192,746 $26.4M
Cumberland Partners Ltd 1.75% Reduce -0.4% 183,381 $25.1M
Massachusetts Financial Services Co. 0.01% Reduce -0.8% 177,909 $24.4M
Argent Capital Management LLC 0.67% Reduce -1.6% 176,917 $24.2M
Amundi 0.01% Add +9.0% 176,936 $24.0M
Dimensional Fund Advisors LP 0.01% Add +9.5% 167,871 $23.0M
Millennium Management 0.02% Add +395.9% 158,608 $21.7M
Capital Group Private Client Services, Inc. 0.20% Reduce -4.8% 153,898 $21.1M
Hauser Brothers GmbH 16.19% Reduce -6.8% 153,928 $21.1M
Hill City Capital, LP 1.31% No change 145,000 $19.8M
Connor, Clark & Lunn Investment Management Ltd. 0.08% Reduce -31.9% 125,720 $17.2M
Goldman Sachs Group Inc. 0.00% Reduce -69.6% 123,475 $16.9M
Silvercrest Asset Management Group LLC 0.11% Add +19.5% 118,330 $16.2M
Bank of Nova Scotia 0.03% Add +0.5% 116,058 $15.9M
Nicholas Investment Partners, LP 1.49% Add +3.8% 106,524 $14.6M
Northwest & Ethical Investments L.P. 0.35% Reduce -16.9% 97,064 $13.3M
Invesco Ltd. 0.00% Reduce -7.2% 93,901 $12.9M
Marshall Wace, LLP 0.02% New 87,029 $11.9M
Harber Asset Management LLC 3.41% Add +10.2% 82,370 $11.3M
Deutsche Bank AG 0.00% Add +12.3% 77,415 $10.6M
Norwood Investment Partners, LP 7.09% No change 76,745 $10.5M
Montrusco Bolton Investments Inc. 0.11% Add +0.9% 76,355 $10.5M
Bank of New York Mellon Corp 0.00% Reduce -6.4% 73,858 $10.1M
Wells Fargo & Company 0.00% Reduce -0.1% 71,766 $9.8M
DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.01% Add +109.6% 69,670 $9.6M
Quadrature Capital Ltd 0.19% Reduce -53.2% 61,000 $8.4M
Toronto Dominion Bank 0.01% Add +37.9% 60,112 $8.2M
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% Reduce -10.5% 59,497 $8.1M
Andra AP-fonden 0.11% Reduce -15.3% 40,900 $7.6M
Mitsubishi UFJ Trust & Banking Corp 0.02% Add +2.3% 53,800 $7.4M
Envestnet Asset Management Inc. 0.00% Add +0.6% 53,627 $7.3M
Russell Investments Group, Ltd. 0.01% Reduce -8.3% 47,468 $6.5M
Aviso Financial Inc. 0.27% Add +4.3% 40,449 $5.5M
CANADA LIFE ASSURANCE Co 0.01% Reduce -33.3% 38,876 $5.3M
BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 0.03% Reduce -13.6% 38,635 $5.3M
Victory Capital Management Inc. 0.00% Reduce -26.9% 36,757 $5.0M
RBF Capital, LLC 0.25% No change 35,500 $4.9M
Natixis Advisors, LLC 0.01% Add +3.7% 35,477 $4.9M
BI Asset Management Fondsmaeglerselskab A/S 0.08% Add +17.8% 34,657 $4.7M
Candelo Capital Management LP 3.05% Reduce -35.7% 34,620 $4.7M
Assetmark, Inc. 0.01% Add +5.0% 34,144 $4.7M
iA Global Asset Management Inc. 0.08% Add +1894.5% 32,910 $4.5M
Pictet Asset Management Holding SA 0.00% Reduce -2.2% 32,211 $4.4M
Raymond James & Associates 0.00% Add +5.7% 31,927 $4.4M
BlackRock, Inc. 0.00% — 30,850 $4.2M
T. Rowe Price Associates Inc. 0.00% Add +21.6% 30,318 $4.2M
Sit Investment Associates Inc. 0.09% Reduce -34.8% 29,980 $4.1M
SIG North Trading, ULC 1.26% Add +159.4% 29,617 $4.1M
O'shaughnessy Asset Management, LLC 0.04% Add +5.6% 28,641 $4.0M
Jane Street Group, LLC 0.01% Add +28.3% 29,098 $4.0M
Clear Harbor Asset Management, LLC 0.33% Reduce -0.1% 28,997 $4.0M
Bessemer Group Inc. 0.01% Reduce -38.3% 27,850 $3.8M
Point72 Asset Management 0.01% Reduce -23.4% 27,703 $3.8M
USS Investment Management Ltd 0.03% No change 27,212 $3.7M
Stifel Financial Corp. 0.00% Add +1.5% 27,090 $3.7M
Hudson Bay Capital Management LP 0.03% New 26,000 $3.6M
Korea Investment CORP 0.01% Reduce -51.3% 25,863 $3.5M
UBS Group AG 0.00% Reduce -20.8% 25,235 $3.5M
American Century Companies Inc. 0.00% Add +1.7% 24,775 $3.4M
Citadel Advisors 0.00% Reduce -83.8% 23,924 $3.3M
Citigroup Inc. 0.00% Add +3.3% 22,920 $3.1M
PDT Partners, LLC 0.27% Add +330.8% 22,523 $3.1M
HSBC Holdings PLC 0.00% New 21,800 $3.0M
Quantbot Technologies LP 0.12% Add +295.1% 21,484 $2.9M
Intech Investment Management LLC 0.03% Add +8.8% 21,042 $2.9M
Sei Investments Co. 0.00% Add +1.3% 21,044 $2.9M
Verition Fund Management LLC 0.02% New 19,998 $2.7M
Two Sigma Investments, LP 0.01% Add +216.6% 19,931 $2.7M
K2 Principal Fund, L.P. 1.36% Reduce -39.4% 19,812 $2.7M
Qube Research & Technologies Ltd 0.01% New 19,798 $2.7M
Jennison Associates LLC 0.00% Reduce -49.6% 19,037 $2.6M
Balyasny Asset Management L.P. 0.01% Reduce -88.0% 18,183 $2.5M
Public Employees Retirement System of Ohio 0.01% New 17,315 $2.4M
Zurcher Kantonalbank (Zurich Cantonalbank) 0.01% Add +6.0% 16,267 $2.2M
Ossiam 0.04% Reduce -20.6% 15,275 $2.1M
Empowered Funds, LLC 0.03% Add +25.0% 14,188 $1.9M
Renaissance Technologies 0.00% New 13,900 $1.9M
Walleye Capital LLC 0.02% Add +261.7% 13,507 $1.8M
Fairfax Financial Holdings 0.17% No change 13,300 $1.8M
Triasima Portfolio Management inc. 0.40% Reduce -81.2% 12,999 $1.8M
Addenda Capital Inc. 0.06% Add +2.1% 9,298 $1.7M
LPL Financial LLC 0.00% Add +6.1% 12,473 $1.7M
Ontario Teachers Pension Plan Board 0.02% Reduce -14.3% 12,458 $1.7M
Roundview Capital LLC 0.12% Add +11.2% 12,200 $1.7M
Acadian Asset Management LLC 0.01% Reduce -81.7% 11,995 $1.6M
New York State Common Retirement Fund 0.00% No change 11,772 $1.6M
Osaic Holdings, Inc. 0.00% Add +0.6% 11,463 $1.6M
DekaBank Deutsche Girozentrale 0.00% Add +2.2% 11,256 $1.5M
Skandinaviska Enskilda Banken AB (publ) 0.01% No change 11,078 $1.5M
Dynamic Technology Lab Private Ltd 0.16% New 10,917 $1.5M
Mediolanum International Funds Ltd 0.02% No change 9,758 $1.3M
Legato Capital Management LLC 0.16% No change 9,609 $1.3M
Sterling Capital Management LLC 0.02% — 9,568 $1.3M
Sumitomo Mitsui Trust Group, Inc. 0.00% Reduce -1.1% 9,001 $1.2M
Value Partners Investments Inc. 0.08% Add +9.7% 7,446 $1.0M
Claret Asset Management Corp 0.17% Add +12.8% 7,434 $1.0M
Allianz Asset Management GmbH 0.00% No change 7,329 $1.0M
Campbell & CO Investment Adviser LLC 0.07% Add +194.8% 7,181 $983K
Capital International Sarl 0.02% Reduce -21.2% 6,866 $940K
Parallel Advisors, LLC 0.02% Reduce -3.3% 6,568 $899K
Alliancebernstein L.P. 0.00% Reduce -0.9% 6,425 $880K
Engineers Gate Manager LP 0.02% New 6,312 $864K
Gold Investment Management Ltd. 0.36% Reduce -8.6% 6,302 $863K
Two Sigma Advisers, LP 0.00% Reduce -70.3% 6,300 $862K
Natixis Investment Managers International 0.06% No change 6,200 $849K
Burney Co./ 0.03% Reduce -1.4% 6,175 $845K
Ritholtz Wealth Management 0.02% Reduce -1.8% 6,042 $827K
Neuberger Berman Group LLC 0.00% Reduce -61.3% 5,871 $805K
Jupiter Asset Management Ltd. 0.01% New 5,783 $793K
Summit Global Investments 0.05% Reduce -15.4% 5,589 $765K
Barclays PLC 0.00% Add +12.1% 4,923 $674K
Venturi Wealth Management, LLC 0.03% Add +8.6% 4,825 $660K
Sienna Gestion 0.04% New 4,800 $657K
NewEdge Wealth, LLC 0.01% Add +4.1% 4,793 $656K
Vestmark Advisory Solutions, Inc. 0.02% Add +4.1% 4,759 $651K
Entropy Technologies, LP 0.07% New 4,700 $643K
Tacita Capital Inc 0.42% Reduce -7.5% 4,643 $637K
WCM Investment Management, LLC 0.00% Reduce -43.8% 4,585 $632K
Koshinski Asset Management, Inc. 0.05% Reduce -3.8% 4,452 $609K
Bleakley Financial Group, LLC 0.02% Reduce -4.7% 4,229 $579K
Atria Investments, Inc 0.01% Reduce -4.5% 4,169 $571K
Americana Partners, LLC 0.04% No change 4,119 $564K
DAVENPORT & Co LLC 0.00% Add +0.7% 3,742 $513K
Aigen Investment Management, LP 0.10% New 3,701 $507K
Pitcairn Co. 0.03% Reduce -43.2% 3,666 $502K
Daiwa Securities Group Inc. 0.00% No change 3,601 $493K
DORCHESTER WEALTH MANAGEMENT Co 0.09% No change 3,521 $482K
UniSuper Management Pty Ltd 0.00% Add +22.8% 2,579 $478K
Qtron Investments LLC 0.07% Add +71.3% 3,483 $478K
Investment Management Corp of Ontario 0.01% Reduce -7.9% 3,486 $477K
Virtu Financial LLC 0.03% New 3,472 $475K
Ameriprise Financial Inc. 0.00% Add +0.9% 2,527 $454K
PEAK6 Investments LLC 0.02% New 3,286 $450K
PFG Investments, LLC 0.03% Add +0.1% 3,210 $439K
Quantinno Capital Management LP 0.01% Add +87.7% 3,196 $438K
Mariner, LLC 0.00% Add +6.5% 3,195 $438K
Creative Planning 0.00% Add +9.9% 3,138 $430K
Cetera Investment Advisers 0.00% Add +3.9% 3,097 $425K
Tower Research Capital LLC (TRC) 0.01% Add +127.8% 3,044 $417K
Nebula Research & Development LLC 0.05% New 3,031 $415K
Royal London Asset Management Ltd. 0.00% No change 2,989 $409K
Vanguard Personalized Indexing Management, LLC 0.01% Add +11.4% 2,961 $405K
CenterBook Partners LP 0.02% Reduce -72.5% 2,859 $391K
Vident Advisory, LLC 0.01% Reduce -0.5% 2,747 $377K
Henshaw Capital LLC 0.02% Reduce -39.5% 2,661 $364K
Metis Global Partners, LLC 0.01% Reduce -2.5% 2,623 $359K
Caprock Group, LLC 0.01% Add +0.6% 2,596 $356K
LVW Advisors, LLC 0.04% Reduce -9.4% 2,464 $337K
Walleye Trading LLC 0.01% Add +121.2% 2,446 $335K
Bank of Nova Scotia Trust Co. 0.03% New 2,330 $319K
Bayesian Capital Management, LP 0.04% Add +46.8% 2,195 $300K
Kestra Private Wealth Services, LLC 0.01% New 2,156 $295K
Asahi Life Asset Management Co., LTD. 0.18% Reduce -7.0% 2,120 $291K
First Heartland Consultants, Inc. 0.03% No change 2,116 $290K
Seelaus Asset Management LLC 0.27% No change 2,100 $288K
Raymond James Financial Services Advisors, Inc. 0.00% Reduce -1.1% 2,098 $287K
United Capital Financial Advisors, LLC 0.00% Add +2.1% 1,911 $262K
Scientech Research LLC 0.05% New 1,897 $260K
Snowden Capital Advisors LLC 0.01% Reduce -18.8% 1,883 $259K
Magnetar Financial LLC 0.01% Reduce -68.7% 1,879 $257K
Seven Eight Capital, LP 0.02% New 1,813 $248K
Man Group plc 0.00% Reduce -87.3% 1,800 $247K
Olympiad Research LP 0.16% New 1,762 $241K
Prelude Capital Management, LLC 0.02% New 1,762 $241K
Wexford Capital LP 0.06% Reduce -52.6% 1,689 $231K
MML Investors Services, LLC 0.00% Add +2.6% 1,638 $224K
&partners 0.00% New 1,574 $215K
Benjamin Edwards Inc. 0.00% New 1,569 $215K
Thoroughbred Financial Services, LLC 0.01% No change 1,560 $213K
Pinnacle Associates Ltd. 0.00% New 1,565 $213K
HighTower Advisors, LLC 0.00% Reduce -1.7% 1,540 $212K
Cambridge Investment Research Advisors, Inc. 0.00% Add +0.1% 1,515 $208K
CW Advisors, LLC 0.00% New 1,513 $207K
Nexus Investment Management ULC 0.02% Reduce -2.2% 1,500 $206K
Credit Agricole S A 0.00% No change 1,460 $200K
US Bancorp \de 0.00% Reduce -7.9% 1,002 $137K
Plato Investment Management Ltd 0.01% New 975 $134K
Harel Insurance Investments & Financial Services Ltd. 0.00% Reduce -6.4% 846 $116K
State of Wyoming 0.01% Add +101.1% 712 $97K
Headlands Technologies LLC 0.01% New 702 $96K
Signaturefd, LLC 0.00% Add +29.3% 561 $77K
PNC Financial Services Group, Inc. 0.00% Reduce -11.3% 551 $75K
UMB Bank, n.a. 0.00% Reduce -31.1% 546 $75K
Clearstead Advisors, LLC 0.00% Add +0.6% 496 $68K
CIBC Private Wealth Group LLC 0.00% New 395 $54K
Hillsdale Investment Management Inc. 0.00% Add +7.1% 375 $52K
Ameritas Investment Partners, Inc. 0.00% No change 338 $46K
Allworth Financial LP 0.00% Reduce -0.6% 331 $45K
Hilltop National Bank 0.01% No change 320 $44K
WealthCollab, LLC 0.03% No change 304 $42K
Concourse Financial Group Securities, Inc. 0.00% Add +1.7% 299 $41K
Hexagon Capital Partners LLC 0.01% Add +2.9% 247 $34K
EverSource Wealth Advisors, LLC 0.00% Reduce -57.8% 173 $24K
CoreCap Advisors, LLC 0.00% No change 167 $23K
Private Trust Co. NA 0.00% No change 122 $17K
Blue Trust, Inc. 0.00% Add +1.9% 106 $15K
Brown Brothers Harriman & Co. 0.00% No change 105 $14K
Earned Wealth Advisors, LLC 0.00% New 100 $14K
Principal Securities, Inc. 0.00% Add +32.9% 97 $13K
Global Retirement Partners, LLC 0.00% Reduce -5.0% 94 $13K
Steward Partners Investment Advisory, LLC 0.00% Add +16.3% 93 $13K
International Assets Investment Management, LLC 0.00% New 87 $12K
MassMutual Private Wealth & Trust, FSB 0.00% No change 81 $11K
Lindbrook Capital, LLC 0.00% Reduce -4.9% 77 $11K
Continuum Advisory, LLC 0.00% Add +293.8% 63 $9K
Cwm, LLC 0.00% No change 63 $9K
Annapolis Financial Services, LLC 0.00% No change 65 $9K
Farther Finance Advisors, LLC 0.00% Add +12.3% 64 $9K
LRI Investments, LLC 0.00% No change 55 $8K
Frazier Financial Advisors, LLC 0.01% Reduce -28.8% 57 $8K
North Star Investment Management Corp. 0.00% No change 56 $8K
First Horizon Advisors, Inc. 0.00% No change 49 $7K
Jones Financial Companies LLLP 0.00% Reduce -18.4% 40 $6K
Legacy Investment Solutions, LLC 0.00% — 35 $5K
Legacy Wealth Managment, LLC 0.00% — 35 $5K
Ascentis Independent Advisors 0.00% New 37 $5K
Pacifica Partners Inc. 0.00% No change 35 $5K
Quadrant Capital Group LLC 0.00% No change 33 $5K
Wilmington Savings Fund Society, FSB 0.00% New 31 $4K
Mather Group, Llc. 0.00% Add +55.0% 31 $4K
CGC Financial Services, LLC 0.00% No change 30 $4K
Kozak & Associates, Inc. 0.00% No change 28 $4K
True Wealth Design, LLC 0.00% Reduce -99.6% 27 $4K
JFS Wealth Advisors, LLC 0.00% No change 27 $4K
Cullen/Frost Bankers, Inc. 0.00% New 27 $4K
WASHINGTON TRUST Co 0.00% Reduce -3.7% 26 $4K
ESL Trust Services, LLC 0.00% No change 23 $3K
Creekmur Asset Management LLC 0.00% Reduce -80.9% 22 $3K
Salomon & Ludwin, LLC 0.00% No change 21 $3K
Foster Dykema Cabot & Partners, LLC 0.00% New 19 $3K
Natixis 0.00% Reduce -10.0% 18 $2K
Bruce G. Allen Investments, LLC 0.00% No change 18 $2K
Trust Co. of Vermont 0.00% New 15 $2K
Glen Eagle Advisors, LLC 0.00% No change 12 $2K
Harbour Investments, Inc. 0.00% No change 12 $2K
GPS Wealth Strategies Group, LLC 0.00% No change 10 $1K
Arax Advisory Partners 0.00% No change 10 $1K
Bell Investment Advisors, Inc 0.00% No change 9 $1K
Larson Financial Group LLC 0.00% New 9 $1K
Cornerstone Planning Group LLC 0.00% No change 9 $1K
Concord Wealth Partners 0.00% New 8 $1K
Geneos Wealth Management Inc. 0.00% No change 6 $823
Albion Financial Group 0.00% No change 5 $685
IFP Advisors, Inc 0.00% No change 4 $548
Rhumbline Advisers 0.00% No change 4 $547

"% of holder's portfolio" is TFII's weight in each manager's 13F, not the share of Tfi International Inc. the manager owns.