CIK: 0001569411
Total reported value
$3.6B
Reporting period: 2026-03-31 · Number of holdings: 129
Addenda Capital Inc. disclosed 129 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $3.6B and a quarterly turnover rate of 17.5%.
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Addenda Capital Inc.'s disclosed holdings carry a Herfindahl concentration index of 0.022 — mathematically equivalent to about 46 equally-sized positions, well below its 129 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.36), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Add KGC
+3855.5% $56.8M
Trim SHOP
+4.9% -$32.7M
Add CNQ
-5.3% $34.0M
Trim GIB
-66.2% -$27.6M
Add SU
-1.8% $22.4M
Trim BN
+0.5% -$13.8M
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | AEM | Agnico Eagle Mines LTD | Stock-Materials | 5.00% | +0.44% | -5.76% | |
| 2 | TD | Toronto-dominion Bank | Stock-Financials | 4.76% | — | -0.21% | |
| 3 | RY | Royal Bank Of Canada | Stock-Financials | 4.72% | -0.11% | +6.11% | |
| 4 | BMO | Bank Of Montreal | Stock-Financials | 3.58% | — | -7.07% | |
| 5 | CNQ | Canadian Natural Resources | Stock-Energy | 3.49% | +0.85% | -5.27% | |
| 6 | AGI | Alamos Gold Inc-class A | Stock-Materials | 3.46% | — | -10.76% | |
| 7 | BN | Brookfield CORP | Stock-Financials | 3.44% | -0.55% | +0.49% | |
| 8 | SHOP | Shopify INC - Class A | Stock-Tech | 3.33% | -1.10% | +4.94% | |
| 9 | WPM | Wheaton Precious Metals CORP | Stock-Materials | 3.18% | +0.48% | +8.22% | |
| 10 | ENB | Enbridge INC | Stock-Energy | 2.99% | +0.26% | -0.50% | |
| 11 | BNS | Bank Of Nova Scotia | Stock-Financials | 2.92% | -0.26% | +0.25% | |
| 12 | CCJ | Cameco CORP | Stock-Energy | 2.35% | +0.37% | +2.36% | |
| 13 | TRP | Tc Energy CORP | Stock-Energy | 2.25% | +0.19% | -1.10% | |
| 14 | CP | Canadian Pacific Kansas City | Stock-Industrials | 2.16% | +0.02% | -2.67% | |
| 15 | FNV | Franco-nevada CORP | Stock-Materials | 2.15% | +0.45% | +8.93% | |
| 16 | SU | Suncor Energy INC | Stock-Energy | 1.94% | +0.58% | -1.81% | |
| 17 | CNI | Canadian Natl Railway Co | Stock-Industrials | 1.85% | +0.04% | +1.32% | |
| 18 | KGC | Kinross Gold CORP | Stock-Materials | 1.64% | +1.60% | +3855.51% | |
| 19 | AAPL | Apple INC | Stock-Tech | 1.63% | — | +4.99% | |
| 20 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 1.49% | -0.17% | +2.60% | |
| 21 | AVGO | Broadcom INC | Stock-Tech | 1.46% | -0.24% | -0.35% | |
| 22 | WCN | Waste Connections INC | Stock-Industrials | 1.39% | -0.17% | -0.84% | |
| 23 | MSFT | Microsoft CORP | Stock-Tech | 1.36% | -0.45% | +2.27% | |
| 24 | NVDA | Nvidia CORP | Stock-Tech | 1.30% | — | +7.88% | |
| 25 | CM | Can Imperial Bk Of Commerce | Stock-Financials | 1.18% | -0.39% | -26.08% | |
| 26 | BIP | Brookfield Infrastructure Partners L.P. | Stock-Utilities | 1.09% | — | -3.00% | |
| 27 | PBA | Pembina Pipeline CORP | Stock-Energy | 1.06% | +0.11% | -2.17% | |
| 28 | MFC | Manulife Financial CORP | Stock-Financials | 1.03% | — | -0.80% | |
| 29 | AMZN | Amazon.com INC | Stock-Consumer Disc | 0.97% | -0.12% | +2.67% | |
| 30 | QSR | Restaurant Brands Intern | Stock-Consumer Disc | 0.91% | — | -2.51% | |
| 31 | EMA | Emera INC | Stock-Other | 0.86% | — | -8.75% | |
| 32 | V | Visa Inc-class A Shares | Stock-Financials | 0.84% | -0.15% | +2.01% | |
| 33 | JPM | Jpmorgan Chase & Co | Stock-Financials | 0.73% | — | +2.55% | |
| 34 | TJX | Tjx Companies INC | Stock-Consumer Disc | 0.72% | — | +2.76% | |
| 35 | WAB | Wabtec CORP | Stock-Industrials | 0.70% | +0.09% | +2.52% | |
| 36 | CIGI | Colliers Intl Gr-subord Vot | Stock-Other | 0.70% | -0.31% | -1.98% | |
| 37 | APH | Amphenol Corp-cl A | Stock-Tech | 0.69% | — | -2.49% | |
| 38 | CVE | Cenovus Energy INC | Stock-Energy | 0.67% | +0.22% | -2.05% | |
| 39 | FFIV | F5 INC | Stock-Tech | 0.59% | — | -3.89% | |
| 40 | TFII | Tfi International INC | Stock-Other | 0.58% | — | -3.21% | |
| 41 | BKNG | Booking Holdings INC | Stock-Consumer Disc | 0.55% | -0.16% | +2.58% | |
| 42 | TMO | Thermo Fisher Scientific INC | Stock-Healthcare | 0.55% | — | +33.82% | |
| 43 | SCHW | Schwab (charles) CORP | Stock-Financials | 0.54% | — | +2.58% | |
| 44 | LIN | Linde plc | Stock-Materials | 0.53% | +0.06% | +2.55% | |
| 45 | HBM | Hudbay Minerals INC | Stock-Other | 0.51% | +0.50% | +4298.85% | |
| 46 | RMD | Resmed INC | Stock-Healthcare | 0.50% | — | +2.59% | |
| 47 | COST | Costco Wholesale CORP | Stock-Consumer Staples | 0.49% | +0.06% | +2.75% | |
| 48 | LOW | Lowe's Cos INC | Stock-Consumer Disc | 0.48% | — | +2.58% | |
| 49 | BCE | Bce INC | Stock-Comm Services | 0.47% | — | +1.70% | |
| 50 | SPGI | S&p Global INC | Stock-Financials | 0.46% | -0.11% | +3.19% |
Performance for Q3 2026
-0.9%
Performance Last 4 Quarters
+23.2%
Based on 80% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 129 | $3.6B | 17 | |
| 2025-12-31 | 125 | $3.4B | 13 | |
| 2025-09-30 | 126 | $3.4B | 33 | |
| 2025-06-30 | 120 | $2.8B | 0 | |
| 2025-03-31 | 123 | $2.7B | 100 | |
| 2024-12-31 | 123 | $2.8B | 0 | |
| 2024-09-30 | 125 | $2.8B | 0 | |
| 2024-06-30 | 128 | $2.6B | 0 | |
| 2024-03-31 | 131 | $2.6B | 0 | |
| 2023-12-31 | 130 | $2.6B | 0 | |
| 2023-09-30 | 131 | $2.3B | 0 | |
| 2023-06-30 | 132 | $2.4B | 0 | |
| 2023-03-31 | 136 | $2.4B | 0 | |
| 2022-12-31 | 144 | $2.3B | 0 | |
| 2022-09-30 | 138 | $2.2B | 0 | |
| 2022-06-30 | 102 | $2.1B | 0 | |
| 2022-03-31 | 98 | $2.4B | 0 | |
| 2021-12-31 | 96 | $2.3B | 0 | |
| 2021-09-30 | 96 | $2.1B | 0 | |
| 2021-06-30 | 99 | $2.1B | 96 | |
| 2021-03-31 | 98 | $2.0B | 21 | |
| 2020-12-31 | 103 | $1.6B | 18 | |
| 2020-09-30 | 97 | $1.4B | 14 | |
| 2020-06-30 | 96 | $1.4B | 31 | |
| 2020-03-31 | 95 | $1.2B | 32 | |
| 2019-12-31 | 104 | $1.5B | 19 | |
| 2019-09-30 | 108 | $1.4B | 12 | |
| 2019-06-30 | 113 | $1.4B | 17 | |
| 2019-03-31 | 113 | $1.4B | 26 | |
| 2018-12-31 | 120 | $1.1B | 29 | |
| 2018-09-30 | 108 | $1.2B | 10 | |
| 2018-06-30 | 109 | $1.2B | 23 | |
| 2018-03-31 | 121 | $1.3B | 17 | |
| 2017-12-31 | 125 | $1.4B | 8 | |
| 2017-09-30 | 116 | $1.4B | 17 | |
| 2017-06-30 | 117 | $1.3B | 12 | |
| 2017-03-31 | 119 | $1.3B | 18 | |
| 2016-12-31 | 122 | $1.3B | 20 | |
| 2016-09-30 | 126 | $1.2B | 0 | |
| 2016-06-30 | 125 | $1.2B | 21 | |
| 2016-03-31 | 121 | $1.1B | 24 | |
| 2015-12-31 | 124 | $1.1B | 11 | |
| 2015-09-30 | 124 | $1.0B | 17 | |
| 2015-06-30 | 126 | $1.2B | 9 | |
| 2015-03-31 | 124 | $1.2B | 18 | |
| 2014-12-31 | 125 | $1.3B | 30 | |
| 2014-09-30 | 136 | $1.1B | 19 | |
| 2014-06-30 | 136 | $1.2B | 22 | |
| 2014-03-31 | 140 | $1.1B | 21 | |
| 2013-12-31 | 135 | $1.1B | 16 | |
| 2013-09-30 | 132 | $1.1B | 17 | |
| 2013-06-30 | 129 | $1.0B | 0 |
Addenda Capital Inc.'s most significant position changes for 2026-03-31: New buy: Celestica INC (CLS); Sold out: Iqvia Holdings INC (IQV); New buy: Sunbelt Rentals Holdings INC (SUNB); New buy: Berkshire Hathaway Inc-cl B (BRK-B); Sold out: Granite Real Estate Investme (GRTUF).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | KGC | Kinross Gold CORP | +1.6% | +3855.51% | Add |
| 2 | CNQ | Canadian Natural Resources | +0.9% | -5.27% | Trim |
| 3 | SU | Suncor Energy INC | +0.6% | -1.81% | Trim |
| 4 | HBM | Hudbay Minerals INC | +0.5% | +4298.85% | Add |
| 5 | WPM | Wheaton Precious Metals CORP | +0.5% | +8.22% | Add |
| 6 | FNV | Franco-nevada CORP | +0.5% | +8.93% | Add |
| 7 | AEM | Agnico Eagle Mines LTD | +0.4% | -5.76% | Trim |
| 8 | CCJ | Cameco CORP | +0.4% | +2.36% | Add |
| 9 | ENB | Enbridge INC | +0.3% | -0.50% | Trim |
| 10 | CVE | Cenovus Energy INC | +0.2% | -2.05% | Trim |
| 11 | TSM | Taiwan Semiconductor-sp Adr | +0.2% | +112.24% | Add |
| 12 | TRP | Tc Energy CORP | +0.2% | -1.10% | Trim |
| 13 | STE | STERIS plc | +0.2% | +158.69% | Add |
| 14 | MEOH | Methanex CORP | +0.1% | — | Unchanged |
| 15 | DOW | Dow INC | +0.1% | — | Unchanged |
| 16 | PBA | Pembina Pipeline CORP | +0.1% | -2.17% | Trim |
| 17 | WAB | Wabtec CORP | +0.1% | +2.52% | Add |
| 18 | LIN | Linde plc | +0.1% | +2.55% | Add |
| 19 | COST | Costco Wholesale CORP | +0.1% | +2.75% | Add |
| 20 | CNI | Canadian Natl Railway Co | 0% | +1.32% | Add |
| 21 | CP | Canadian Pacific Kansas City | 0% | -2.67% | Trim |
| 22 | AGI | Alamos Gold Inc-class A | — | -10.76% | Trim |
| 23 | RY | Royal Bank Of Canada | -0.1% | +6.11% | Add |
| 24 | SPGI | S&p Global INC | -0.1% | +3.19% | Add |
| 25 | BGSI | THE Boyd Group INC | -0.1% | -2.42% | Trim |
| 26 | ADBE | Adobe INC | -0.1% | -14.70% | Trim |
| 27 | AMZN | Amazon.com INC | -0.1% | +2.67% | Add |
| 28 | BR | Broadridge Financial Solutio | -0.1% | +2.55% | Add |
| 29 | BAM | Brookfield Asset Mgmt-a | -0.2% | -10.00% | Trim |
| 30 | V | Visa Inc-class A Shares | -0.2% | +2.01% | Add |
| 31 | BKNG | Booking Holdings INC | -0.2% | +2.58% | Add |
| 32 | WCN | Waste Connections INC | -0.2% | -0.84% | Trim |
| 33 | GOOG | Alphabet Inc-cl C | -0.2% | +2.60% | Add |
| 34 | INTU | Intuit INC | -0.2% | +2.60% | Add |
| 35 | AVGO | Broadcom INC | -0.2% | -0.35% | Trim |
| 36 | PEP | Pepsico INC | -0.3% | -57.81% | Trim |
| 37 | BNS | Bank Of Nova Scotia | -0.3% | +0.25% | Add |
| 38 | CIGI | Colliers Intl Gr-subord Vot | -0.3% | -1.98% | Trim |
| 39 | CM | Can Imperial Bk Of Commerce | -0.4% | -26.08% | Trim |
| 40 | MSFT | Microsoft CORP | -0.5% | +2.27% | Add |
| 41 | BN | Brookfield CORP | -0.6% | +0.49% | Add |
| 42 | GIB | Cgi INC | -0.8% | -66.23% | Trim |
| 43 | SHOP | Shopify INC - Class A | -1.1% | +4.94% | Add |
| 44 | CLS | Celestica INC | — | NEW | New buy |
| 45 | IQV | Iqvia Holdings INC | — | EXIT | Sold out |
| 46 | SUNB | Sunbelt Rentals Holdings INC | — | NEW | New buy |
| 47 | BRK-B | Berkshire Hathaway Inc-cl B | — | NEW | New buy |
| 48 | GRTUF | Granite Real Estate Investme | — | EXIT | Sold out |
| 49 | PANW | Palo Alto Networks INC | — | NEW | New buy |
| 50 | MKC | Mccormick & Co-non Vtg Shrs | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-04-15 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-01-22 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-10-09 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-07-17 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-04-09 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-01-16 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-10-15 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-07-16 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-04-16 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-01-23 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-10-12 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-07-21 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-04-11 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-01-12 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-10-11 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-07-13 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-04-14 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-01-14 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-10-08 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-07-19 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-04-13 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-01-19 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-10-15 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-07-09 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-04-13 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-01-31 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-10-08 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-07-12 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-04-09 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-01-14 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-10-16 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-07-13 | Amendment | View on EDGAR |
| 2018-06-30 | 2018-07-12 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-04-11 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-01-12 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-10-11 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-08-04 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-04-10 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-01-31 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2016-10-17 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-08-10 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-05-04 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-01-20 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2015-11-13 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2015-07-08 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2015-05-15 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2015-02-05 | 13F-HR | View on EDGAR |
| 2014-09-30 | 2014-11-04 | 13F-HR | View on EDGAR |
| 2014-06-30 | 2014-07-31 | 13F-HR | View on EDGAR |
| 2014-03-31 | 2014-05-06 | 13F-HR | View on EDGAR |
| 2013-12-31 | 2014-02-13 | 13F-HR | View on EDGAR |
| 2013-09-30 | 2013-11-06 | Amendment | View on EDGAR |
| 2013-09-30 | 2013-11-04 | 13F-HR | View on EDGAR |
| 2013-06-30 | 2013-08-12 | 13F-HR | View on EDGAR |
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