WC
Waratah Capital Advisors Ltd. — 13F Portfolio Report & Top Holdings (Q2 2026)
Waratah Capital Advisors Ltd.CIK: 0001539919
Diversified strategyMomentum followerHigh-turnover trader
Total reported value
$2.9B
Reporting period: 2026-06-30 · Number of holdings: 142
Waratah Capital Advisors Ltd. disclosed 142 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $2.9B and a quarterly turnover rate of 84.0%.
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Personality snowflake
- Concentration
- 23.02
- Portfolio Stability
- 84.01
- Momentum
- 100
- Sector conviction
- 52.87
- Diversification
- 100
- Sizing Uniformity
- 75.13
Waratah Capital Advisors Ltd.'s disclosed holdings carry a Herfindahl concentration index of 0.058 — mathematically equivalent to about 17 equally-sized positions, well below its 142 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 2.49), 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.
Sector classification currently covers about 45% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd QQQ
+134.2% $342.0M
Trim TLT
-76.1% -$265.2M
Trim GLD
-95.8% -$124.1M
Sold out IWM
New buy BMO
Add ASML
+1757.9% $47.4M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
Showing top 124 holdings (of 142 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | QQQ | Invesco Qqq Trust Series 1 | ETF-Tech | 17.48% | +10.93% | +134.18% | |
| 2 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 10.52% | +0.29% | +0.36% | |
| 3 | HYG | Ishr Ibx Usd Hiyld Cb Etf-ui | ETF-High Yield | 8.18% | -1.31% | -3.91% | |
| 4 | LQD | Ishr Ibx Usd Invgd Cb Etf-ui | ETF-Corp Bonds | 5.56% | +1.08% | +38.89% | |
| 5 | DSGX | Descartes Systems Grp/the | Stock-Tech | 3.41% | +0.17% | +21.71% | |
| 6 | TLT | Ishares 20+ Year Treasury Bd | ETF-Gov Bonds | 2.82% | -10.44% | -76.10% | |
| 7 | BMO | Bank Of Montreal | Stock-Financials | 1.92% | +1.92% | NEW | |
| 8 | ASML | ASML Holding N.V. | Stock-Tech | 1.67% | +1.60% | +1757.94% | |
| 9 | TDY | Teledyne Technologies Inc | Stock-Tech | 1.61% | +0.84% | +111.10% | |
| 10 | FSS | Federal Signal CORP | Stock-Industrials | 1.57% | +1.57% | NEW | |
| 11 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 1.44% | +1.44% | NEW | |
| 12 | AGI | Alamos Gold Inc-class A | Stock-Materials | 1.31% | -1.02% | -7.48% | |
| 13 | AVGO | Broadcom Inc | Stock-Tech | 1.31% | +1.31% | NEW | |
| 14 | NVT | nVent Electric plc | Stock-Industrials | 1.19% | +0.21% | -5.63% | |
| 15 | STN | Stantec Inc | Stock-Other | 1.03% | +0.82% | +581.99% | |
| 16 | SXT | Sensient Technologies CORP | Stock-Materials | 1.01% | +0.51% | +60.04% | |
| 17 | NVDA | Nvidia CORP | Stock-Tech | 1.01% | +0.71% | +229.35% | |
| 18 | NI | Nisource Inc | Stock-Utilities | 1.00% | +0.33% | +63.85% | |
| 19 | CVE | Cenovus Energy Inc | Stock-Energy | 0.94% | -0.20% | -1.89% | |
| 20 | AME | Ametek Inc | Stock-Industrials | 0.90% | +0.27% | +42.38% | |
| 21 | CMG | Chipotle Mexican Grill Inc | Stock-Consumer Disc | 0.90% | +0.72% | +419.98% | |
| 22 | MTUM | Ishares Msci USA Momentum Fa | ETF-Other | 0.87% | +0.87% | NEW | |
| 23 | WELL | Welltower Inc | Stock-Real Estate | 0.85% | -0.30% | -27.69% | |
| 24 | TD | Toronto-dominion Bank | Stock-Financials | 0.84% | +0.08% | -4.32% | |
| 25 | MLM | Martin Marietta Materials | Stock-Materials | 0.79% | -0.19% | -8.08% | |
| 26 | TXN | Texas Instruments Inc | Stock-Tech | 0.76% | +0.64% | +358.63% | |
| 27 | SOXX | Ishares Semiconductor ETF | ETF-Other | 0.75% | +0.75% | NEW | |
| 28 | SKE | Skeena Resources LTD | Stock-Other | 0.74% | -0.54% | -27.23% | |
| 29 | AEM | Agnico Eagle Mines LTD | Stock-Materials | 0.74% | -0.39% | -3.89% | |
| 30 | LNG | Cheniere Energy Inc | Stock-Energy | 0.73% | -0.02% | +29.86% | |
| 31 | PWR | Quanta Services Inc | Stock-Industrials | 0.72% | +0.34% | +61.31% | |
| 32 | ARMK | Aramark | Stock-Industrials | 0.72% | +0.72% | NEW | |
| 33 | MOD | Modine Manufacturing Co | Stock-Consumer Disc | 0.68% | +0.27% | +51.92% | |
| 34 | CR | Crane Co | Stock-Industrials | 0.68% | -0.37% | -44.35% | |
| 35 | MGA | Magna International Inc | Stock-Consumer Disc | 0.67% | +0.67% | NEW | |
| 36 | CHRW | C.h. Robinson Worldwide Inc | Stock-Industrials | 0.65% | +0.65% | NEW | |
| 37 | SPXC | Spx Technologies Inc | Stock-Industrials | 0.65% | -0.54% | -49.57% | |
| 38 | CNI | Canadian Natl Railway Co | Stock-Industrials | 0.61% | -0.44% | -44.14% | |
| 39 | SU | Suncor Energy Inc | Stock-Energy | 0.58% | -0.69% | -37.20% | |
| 40 | TAC | Transalta CORP | Stock-Other | 0.56% | +0.39% | +252.94% | |
| 41 | RY | Royal Bank Of Canada | Stock-Financials | 0.56% | +0.05% | -4.50% | |
| 42 | STRL | Sterling Infrastructure Inc | Stock-Industrials | 0.55% | +0.55% | NEW | |
| 43 | MSFT | Microsoft CORP | Stock-Tech | 0.55% | +0.55% | NEW | |
| 44 | ITB | Ishares U.s. Home Constructi | ETF-Other | 0.53% | +0.53% | NEW | |
| 45 | IMO | Imperial Oil LTD | Stock-Energy | 0.53% | +0.53% | NEW | |
| 46 | MNST | Monster Beverage CORP | Stock-Consumer Staples | 0.52% | +0.52% | NEW | |
| 47 | TFII | Tfi International Inc | Stock-Other | 0.50% | +0.50% | NEW | |
| 48 | RRX | Regal Rexnord CORP | Stock-Industrials | 0.50% | +0.11% | +11.47% | |
| 49 | KGC | Kinross Gold CORP | Stock-Materials | 0.50% | -1.23% | -58.47% | |
| 50 | CGAU | Centerra Gold Inc | Stock-Other | 0.49% | -1.04% | -59.96% |
1–50 of 124
Portfolio Performance
Performance for Q3 2026
+0.8%
Performance Last 4 Quarters
+19.3%
- Stdev
- +13.1%
- Beta
- +0.78
- Alpha
- +3%
- Max Drawdown
- -9.6%
- Annualized Perf
- +19.3%
- Batting Avg vs S&P
- +47.2%
- Sortino
- +2.56
- Stutzer
- +0.4
- Treynor
- +0.24
- Sterling
- +1.22
- Calmar
- +2.02
- Information Ratio
- -0.15
- Tracking Error
- +8.8%
- Stdev Down
- +7.3%
- Winning Months %
- +72.2%
- Losing Months %
- +27.8%
- Best 12 Months
- +41.1%
- Worst 12 Months
- +7%
- Efficiency Ratio
- +0.58
- Sharpe
- +1.43
- Stdev Sectors
- +8.8%
- Skewness
- -0.68
- Kurtosis
- +0.28
- Upside Potential
- +4.02
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 142 | $2.9B | 84 | ||
| 2026 Q1 | 127 | $2.6B | 100 | ||
| 2025 Q4 | 152 | $3.0B | 100 | ||
| 2025 Q3 | 183 | $5.7B | 100 | ||
| 2025 Q2 | 155 | $3.8B | 0 | ||
| 2025 Q1 | 171 | $3.7B | 100 | ||
| 2024 Q4 | 146 | $3.0B | 0 | ||
| 2024 Q3 | 137 | $5.1B | 0 | ||
| 2024 Q2 | 115 | $2.7B | 0 | ||
| 2024 Q1 | 146 | $3.3B | 0 | ||
| 2023 Q4 | 153 | $5.0B | 0 | ||
| 2023 Q3 | 155 | $7.0B | 0 | ||
| 2023 Q2 | 146 | $5.3B | 0 | ||
| 2023 Q1 | 161 | $4.5B | 0 | ||
| 2022 Q4 | 184 | $6.1B | 0 | ||
| 2022 Q3 | 167 | $6.6B | 0 | ||
| 2022 Q2 | 162 | $4.5B | 0 | ||
| 2022 Q1 | 188 | $7.6B | 0 | ||
| 2021 Q4 | 242 | $5.9B | 0 | ||
| 2021 Q3 | 256 | $6.6B | 0 | ||
| 2021 Q2 | 258 | $7.1B | 100 | ||
| 2021 Q1 | 272 | $4.4B | 100 | ||
| 2020 Q4 | 209 | $1.5B | 91 | ||
| 2020 Q3 | 164 | $937.4M | 81 | ||
| 2020 Q2 | 140 | $1.2B | 100 | ||
| 2020 Q1 | 79 | $562.2M | 100 | ||
| 2019 Q4 | 144 | $944.5M | 77 | ||
| 2019 Q3 | 167 | $888.7M | 100 | ||
| 2019 Q2 | 134 | $899.0M | 87 | ||
| 2019 Q1 | 111 | $947.5M | 90 | ||
| 2018 Q4 | 92 | $807.5M | 100 | ||
| 2018 Q3 | 143 | $996.6M | 84 | ||
| 2018 Q2 | 142 | $908.4M | 100 | ||
| 2018 Q1 | 116 | $949.1M | 90 | ||
| 2017 Q4 | 113 | $861.3M | 70 | ||
| 2017 Q3 | 131 | $788.2M | 98 | ||
| 2017 Q2 | 161 | $713.9M | 100 | ||
| 2017 Q1 | 156 | $757.1M | 98 | ||
| 2016 Q4 | 141 | $671.2M | 100 | ||
| 2016 Q3 | 105 | $561.1M | 100 | ||
| 2016 Q2 | 93 | $489.1M | 100 | ||
| 2016 Q1 | 136 | $493.8M | 100 | ||
| 2015 Q4 | 179 | $541.2M | 94 | ||
| 2015 Q3 | 132 | $472.7M | 100 | ||
| 2015 Q2 | 92 | $443.0M | 89 | ||
| 2015 Q1 | 88 | $365.8M | 100 | ||
| 2014 Q4 | 79 | $212.3M | 100 | ||
| 2014 Q3 | 40 | $139.7M | 79 | ||
| 2014 Q2 | 66 | $204.7M | 100 | ||
| 2014 Q1 | 71 | $181.6M | 100 | ||
| 2013 Q4 | 86 | $260.8M | 100 | ||
| 2013 Q3 | 74 | $179.1M | 100 | ||
| 2013 Q2 | 51 | $162.4M | — |
Holding changes this quarter
Waratah Capital Advisors Ltd.'s most significant position changes for 2026-06-30: Sold out: Ishares Russell 2000 ETF (IWM); New buy: Bank Of Montreal (BMO); New buy: Federal Signal CORP (FSS); New buy: Amazon.com Inc (AMZN); New buy: Broadcom Inc (AVGO).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | QQQ | Invesco Qqq Trust Series 1 | +10.9% | +134.18% | Add |
| 2 | BMO | Bank Of Montreal | +1.9% | NEW | New buy |
| 3 | ASML | ASML Holding N.V. | +1.6% | +1757.94% | Add |
| 4 | FSS | Federal Signal CORP | +1.6% | NEW | New buy |
| 5 | AMZN | Amazon.com Inc | +1.4% | NEW | New buy |
| 6 | AVGO | Broadcom Inc | +1.3% | NEW | New buy |
| 7 | LQD | Ishr Ibx Usd Invgd Cb Etf-ui | +1.1% | +38.89% | Add |
| 8 | MTUM | Ishares Msci USA Momentum Fa | +0.9% | NEW | New buy |
| 9 | TDY | Teledyne Technologies Inc | +0.8% | +111.10% | Add |
| 10 | STN | Stantec Inc | +0.8% | +581.99% | Add |
| 11 | SOXX | Ishares Semiconductor ETF | +0.8% | NEW | New buy |
| 12 | CMG | Chipotle Mexican Grill Inc | +0.7% | +419.98% | Add |
| 13 | ARMK | Aramark | +0.7% | NEW | New buy |
| 14 | NVDA | Nvidia CORP | +0.7% | +229.35% | Add |
| 15 | MGA | Magna International Inc | +0.7% | NEW | New buy |
| 16 | CHRW | C.h. Robinson Worldwide Inc | +0.7% | NEW | New buy |
| 17 | TXN | Texas Instruments Inc | +0.6% | +358.63% | Add |
| 18 | STRL | Sterling Infrastructure Inc | +0.6% | NEW | New buy |
| 19 | MSFT | Microsoft CORP | +0.6% | NEW | New buy |
| 20 | ITB | Ishares U.s. Home Constructi | +0.5% | NEW | New buy |
| 21 | IMO | Imperial Oil LTD | +0.5% | NEW | New buy |
| 22 | MNST | Monster Beverage CORP | +0.5% | NEW | New buy |
| 23 | SXT | Sensient Technologies CORP | +0.5% | +60.04% | Add |
| 24 | TFII | Tfi International Inc | +0.5% | NEW | New buy |
| 25 | PUMP | Propetro Holding CORP | +0.5% | NEW | New buy |
| 26 | NOW | Servicenow Inc | +0.5% | NEW | New buy |
| 27 | PAYX | Paychex Inc | +0.5% | NEW | New buy |
| 28 | TAC | Transalta CORP | +0.4% | +252.94% | Add |
| 29 | FND | Floor & Decor Holdings Inc-a | +0.4% | +1892.35% | Add |
| 30 | ARM | Arm Holdings Plc-adr | +0.4% | NEW | New buy |
| 31 | BLDR | Builders Firstsource Inc | +0.4% | NEW | New buy |
| 32 | LPX | Louisiana-pacific CORP | +0.4% | NEW | New buy |
| 33 | PWR | Quanta Services Inc | +0.3% | +61.31% | Add |
| 34 | NI | Nisource Inc | +0.3% | +63.85% | Add |
| 35 | KRC | Kilroy Realty CORP | +0.3% | NEW | New buy |
| 36 | SPY | Ss Spdr S&p 500 ETF Trust-us | +0.3% | +0.36% | Add |
| 37 | FSV | Firstservice CORP | +0.3% | +191.33% | Add |
| 38 | ELS | Equity Lifestyle Properties | +0.3% | NEW | New buy |
| 39 | AME | Ametek Inc | +0.3% | +42.38% | Add |
| 40 | MOD | Modine Manufacturing Co | +0.3% | +51.92% | Add |
| 41 | WCN | Waste Connections Inc | +0.3% | NEW | New buy |
| 42 | KWEB | Kranesh Csi China Internet | +0.3% | NEW | New buy |
| 43 | TRI | Thomson Reuters CORP | +0.2% | NEW | New buy |
| 44 | NVT | nVent Electric plc | +0.2% | -5.63% | Trim |
| 45 | APO | Apollo Global Management Inc | +0.2% | NEW | New buy |
| 46 | IDXX | Idexx Laboratories Inc | +0.2% | +1637.33% | Add |
| 47 | DBB | Invesco Db Base Metals Fund | +0.2% | NEW | New buy |
| 48 | CARR | Carrier Global CORP | +0.2% | NEW | New buy |
| 49 | VMC | Vulcan Materials Co | +0.2% | NEW | New buy |
| 50 | PGR | Progressive CORP | +0.2% | NEW | New buy |
1–50 of 176
Filing History
FAQ
What is Waratah Capital Advisors Ltd. and what type of investor is it?
Waratah Capital Advisors Ltd. is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $2.9B, spread across 142 disclosed positions.
What are Waratah Capital Advisors Ltd.'s largest equity positions?
Based on the latest 13F filing, Waratah Capital Advisors Ltd.'s top holdings by market value are:
1. Invesco Qqq Trust Series 1 (QQQ) — $514.1M (17.5%)
2. Ss Spdr S&p 500 ETF Trust-us (SPY) — $309.4M (10.5%)
3. Ishr Ibx Usd Hiyld Cb Etf-ui (HYG) — $240.5M (8.2%)
4. Ishr Ibx Usd Invgd Cb Etf-ui (LQD) — $163.6M (5.6%)
5. Descartes Systems Grp/the (DSGX) — $100.2M (3.4%)
What changes did Waratah Capital Advisors Ltd. make in its most recent portfolio filing?
In the latest reported quarter, Waratah Capital Advisors Ltd. made 174 notable position adjustments: 59 new positions were initiated, 29 existing holdings were added to, 34 positions were partially reduced, and 52 were completely exited. The largest of these moves: Sold out: Ishares Russell 2000 ETF (IWM); New buy: Bank Of Montreal (BMO); New buy: Federal Signal CORP (FSS); New buy: Amazon.com Inc (AMZN); New buy: Broadcom Inc (AVGO)
What sectors does Waratah Capital Advisors Ltd. focus on?
Waratah Capital Advisors Ltd. is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 26.3%
• Industrials: 25.5%
• Consumer Discretionary: 11.3%
• Materials: 11.2%
• Financials: 9.4%
• Energy: 7.8%
Investment Profile
Waratah Capital Advisors Ltd. returned an annualized 19.3% over the trailing 36 months — outperforming the S&P 500 by 3.0 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.78 (less volatile than the market) and a 47% quarterly batting average against the index.
Its portfolio is broadly diversified and fast-trading.
Its turnover score has risen from 0 to 84 over the past 4 quarters — a shift toward more active trading.
It has added to its DSGX position over the past two quarters (+$90.5M, now $100.2M), while trimming GLD over the same stretch (-$672.4M, still holding $4.6M).
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Developer Access
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