CIK: 0001539919
Total reported value
$2.6B
Reporting period: 2026-03-31 · Number of holdings: 127
Waratah Capital Advisors Ltd. disclosed 127 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $2.6B and a quarterly turnover rate of 120.0%.
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Waratah Capital Advisors Ltd.'s disclosed holdings carry a Herfindahl concentration index of 0.052 — mathematically equivalent to about 19 equally-sized positions, well below its 127 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 2.26), 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 35% 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.
Trim GLD
-82.5% -$548.3M
Add HYG
+61.6% $92.9M
Trim QQQ
-35.4% -$111.3M
Add DSGX
+969.1% $75.4M
Add IWM
+497.8% $68.3M
Trim ROP
-95.0% -$73.4M
Showing top 117 holdings (of 127 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | TLT | Ishares 20+ Year Treasury Bd | ETF-Gov Bonds | 13.26% | +13.26% | NEW | |
| 2 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 10.23% | +10.23% | NEW | |
| 3 | HYG | Ishr Ibx Usd Hiyld Cb Etf-ui | ETF-High Yield | 9.49% | +4.23% | +61.62% | |
| 4 | QQQ | Invesco Qqq Trust Series 1 | ETF-Tech | 6.55% | -2.99% | -35.36% | |
| 5 | GLD | Spdr Gold Shares | ETF-Commodities | 4.90% | -17.89% | -82.50% | |
| 6 | LQD | Ishr Ibx Usd Invgd Cb Etf-ui | ETF-Corp Bonds | 4.48% | +4.48% | NEW | |
| 7 | DSGX | Descartes Systems Grp/the | Stock-Tech | 3.24% | +2.91% | +969.11% | |
| 8 | IWM | Ishares Russell 2000 ETF | ETF-Small Cap | 3.12% | +2.66% | +497.83% | |
| 9 | AGI | Alamos Gold Inc-class A | Stock-Materials | 2.33% | +1.11% | +46.59% | |
| 10 | KGC | Kinross Gold CORP | Stock-Materials | 1.73% | -0.27% | -29.45% | |
| 11 | CGAU | Centerra Gold INC | Stock-Other | 1.53% | -0.26% | -39.14% | |
| 12 | IAG | Iamgold CORP | Stock-Other | 1.39% | — | -25.48% | |
| 13 | LULU | Lululemon Athletica INC | Stock-Consumer Disc | 1.35% | +0.91% | +272.74% | |
| 14 | SKE | Skeena Resources LTD | Stock-Other | 1.28% | — | -26.15% | |
| 15 | SU | Suncor Energy INC | Stock-Energy | 1.27% | +1.27% | NEW | |
| 16 | SPXC | Spx Technologies INC | Stock-Industrials | 1.19% | +0.95% | +336.56% | |
| 17 | WELL | Welltower INC | Stock-Real Estate | 1.15% | +0.66% | +96.76% | |
| 18 | CVE | Cenovus Energy INC | Stock-Energy | 1.14% | +1.14% | NEW | |
| 19 | AEM | Agnico Eagle Mines LTD | Stock-Materials | 1.13% | — | -12.43% | |
| 20 | BGSI | THE Boyd Group INC | Stock-Other | 1.13% | -0.44% | -20.55% | |
| 21 | CNI | Canadian Natl Railway Co | Stock-Industrials | 1.05% | — | +46.04% | |
| 22 | CR | Crane Co | Stock-Industrials | 1.05% | — | +7.79% | |
| 23 | NVT | nVent Electric plc | Stock-Industrials | 0.98% | +0.97% | +6502.67% | |
| 24 | MLM | Martin Marietta Materials | Stock-Materials | 0.98% | — | +95.83% | |
| 25 | CAE | Cae INC | Stock-Other | 0.88% | — | +115.44% | |
| 26 | SN | SharkNinja, Inc. | Stock-Consumer Disc | 0.86% | — | +37.33% | |
| 27 | FNV | Franco-nevada CORP | Stock-Materials | 0.81% | — | +54.25% | |
| 28 | TDY | Teledyne Technologies INC | Stock-Tech | 0.77% | — | +64.01% | |
| 29 | NXE | Nexgen Energy LTD | Stock-Other | 0.77% | — | +8.53% | |
| 30 | TD | Toronto-dominion Bank | Stock-Financials | 0.76% | — | -28.85% | |
| 31 | LNG | Cheniere Energy INC | Stock-Energy | 0.75% | +0.75% | NEW | |
| 32 | EA | Electronic Arts INC | Stock-Comm Services | 0.70% | +0.70% | NEW | |
| 33 | SII | Sprott INC | Stock-Other | 0.70% | — | -14.82% | |
| 34 | NI | Nisource INC | Stock-Utilities | 0.67% | +0.67% | NEW | |
| 35 | AME | Ametek INC | Stock-Industrials | 0.63% | — | +65.05% | |
| 36 | BEP | Brookfield Renewable Partners L.P. | Stock-Other | 0.61% | +0.61% | NEW | |
| 37 | FIX | Comfort Systems USA INC | Stock-Industrials | 0.56% | -0.83% | -75.70% | |
| 38 | CP | Canadian Pacific Kansas City | Stock-Industrials | 0.56% | — | -30.60% | |
| 39 | DOO | Brp Inc/ca- Sub Voting | Stock-Other | 0.52% | — | -42.55% | |
| 40 | RY | Royal Bank Of Canada | Stock-Financials | 0.51% | -1.28% | -73.27% | |
| 41 | SXT | Sensient Technologies CORP | Stock-Materials | 0.50% | — | +3.02% | |
| 42 | IBIT | Ishares Bitcoin Trust ETF | ETF-Crypto | 0.44% | — | +252.53% | |
| 43 | FXI | Ishares China Large-cap ETF | ETF-Emerging Markets | 0.41% | — | — | |
| 44 | MOD | Modine Manufacturing Co | Stock-Consumer Disc | 0.41% | — | — | |
| 45 | AMAT | Applied Materials INC | Stock-Tech | 0.40% | — | — | |
| 46 | XLE | Ss Energy Select Sector | ETF-Other | 0.40% | — | — | |
| 47 | RRX | Regal Rexnord CORP | Stock-Industrials | 0.39% | — | +2049.86% | |
| 48 | AS | Amer Sports, Inc. | Stock-Consumer Disc | 0.39% | — | — | |
| 49 | PWR | Quanta Services INC | Stock-Industrials | 0.38% | — | -26.15% | |
| 50 | COP | Conocophillips | Stock-Energy | 0.38% | — | — |
Performance for Q3 2026
-3.3%
Performance Last 4 Quarters
+15.2%
Based on 88% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 127 | $2.6B | 100 | |
| 2025-12-31 | 152 | $3.0B | 100 | |
| 2025-09-30 | 183 | $5.7B | 100 | |
| 2025-06-30 | 155 | $3.8B | 0 | |
| 2025-03-31 | 171 | $3.7B | 100 | |
| 2024-12-31 | 146 | $3.0B | 0 | |
| 2024-09-30 | 137 | $5.1B | 0 | |
| 2024-06-30 | 115 | $2.7B | 0 | |
| 2024-03-31 | 146 | $3.3B | 0 | |
| 2023-12-31 | 153 | $5.0B | 0 | |
| 2023-09-30 | 155 | $7.0B | 0 | |
| 2023-06-30 | 146 | $5.3B | 0 | |
| 2023-03-31 | 161 | $4.5B | 0 | |
| 2022-12-31 | 184 | $6.1B | 0 | |
| 2022-09-30 | 167 | $6.6B | 0 | |
| 2022-06-30 | 162 | $4.5B | 0 | |
| 2022-03-31 | 188 | $7.6B | 0 | |
| 2021-12-31 | 242 | $5.9B | 0 | |
| 2021-09-30 | 256 | $6.6B | 0 | |
| 2021-06-30 | 258 | $7.1B | 100 | |
| 2021-03-31 | 272 | $4.4B | 100 | |
| 2020-12-31 | 209 | $1.5B | 91 | |
| 2020-09-30 | 164 | $937.4M | 81 | |
| 2020-06-30 | 140 | $1.2B | 100 | |
| 2020-03-31 | 79 | $562.2M | 100 | |
| 2019-12-31 | 144 | $944.5M | 77 | |
| 2019-09-30 | 167 | $888.7M | 100 | |
| 2019-06-30 | 134 | $899.0M | 87 | |
| 2019-03-31 | 111 | $947.5M | 90 | |
| 2018-12-31 | 92 | $807.5M | 100 | |
| 2018-09-30 | 143 | $996.6M | 84 | |
| 2018-06-30 | 142 | $908.4M | 100 | |
| 2018-03-31 | 116 | $949.1M | 90 | |
| 2017-12-31 | 113 | $861.3M | 70 | |
| 2017-09-30 | 131 | $788.2M | 98 | |
| 2017-06-30 | 161 | $713.9M | 100 | |
| 2017-03-31 | 156 | $757.1M | 98 | |
| 2016-12-31 | 141 | $671.2M | 100 | |
| 2016-09-30 | 105 | $561.1M | 100 | |
| 2016-06-30 | 93 | $489.1M | 100 | |
| 2016-03-31 | 136 | $493.8M | 100 | |
| 2015-12-31 | 179 | $541.2M | 94 | |
| 2015-09-30 | 132 | $472.7M | 100 | |
| 2015-06-30 | 92 | $443.0M | 89 | |
| 2015-03-31 | 88 | $365.8M | 100 | |
| 2014-12-31 | 79 | $212.3M | 100 | |
| 2014-09-30 | 40 | $139.7M | 79 | |
| 2014-06-30 | 66 | $204.7M | 100 | |
| 2014-03-31 | 71 | $181.6M | 100 | |
| 2013-12-31 | 86 | $260.8M | 100 | |
| 2013-09-30 | 74 | $179.1M | 100 | |
| 2013-06-30 | 51 | $162.4M | — |
Waratah Capital Advisors Ltd.'s most significant position changes for 2026-03-31: New buy: Ishares 20+ Year Treasury Bd (TLT); New buy: Ss Spdr S&p 500 ETF Trust-us (SPY); New buy: Ishr Ibx Usd Invgd Cb Etf-ui (LQD); Sold out: Ishares Silver Trust (SLV); Sold out: Barrick Mining CORP (B).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | HYG | Ishr Ibx Usd Hiyld Cb Etf-ui | +4.2% | +61.62% | Add |
| 2 | DSGX | Descartes Systems Grp/the | +2.9% | +969.11% | Add |
| 3 | IWM | Ishares Russell 2000 ETF | +2.7% | +497.83% | Add |
| 4 | AGI | Alamos Gold Inc-class A | +1.1% | +46.59% | Add |
| 5 | NVT | nVent Electric plc | +1% | +6502.67% | Add |
| 6 | SPXC | Spx Technologies INC | +1% | +336.56% | Add |
| 7 | LULU | Lululemon Athletica INC | +0.9% | +272.74% | Add |
| 8 | WELL | Welltower INC | +0.7% | +96.76% | Add |
| 9 | CGAU | Centerra Gold INC | -0.3% | -39.14% | Trim |
| 10 | KGC | Kinross Gold CORP | -0.3% | -29.45% | Trim |
| 11 | BGSI | THE Boyd Group INC | -0.4% | -20.55% | Trim |
| 12 | IEX | Idex CORP | -0.5% | -91.68% | Trim |
| 13 | CAT | Caterpillar INC | -0.5% | -93.31% | Trim |
| 14 | GIL | Gildan Activewear INC | -0.6% | -67.93% | Trim |
| 15 | WCC | Wesco International INC | -0.6% | -97.87% | Trim |
| 16 | MTN | Vail Resorts INC | -0.7% | -73.58% | Trim |
| 17 | FIX | Comfort Systems USA INC | -0.8% | -75.70% | Trim |
| 18 | FND | Floor & Decor Holdings Inc-a | -0.9% | -97.82% | Trim |
| 19 | RY | Royal Bank Of Canada | -1.3% | -73.27% | Trim |
| 20 | ROP | Roper Technologies INC | -2.5% | -95.00% | Trim |
| 21 | QQQ | Invesco Qqq Trust Series 1 | -3% | -35.36% | Trim |
| 22 | GLD | Spdr Gold Shares | -17.9% | -82.50% | Trim |
| 23 | TLT | Ishares 20+ Year Treasury Bd | — | NEW | New buy |
| 24 | SPY | Ss Spdr S&p 500 ETF Trust-us | — | NEW | New buy |
| 25 | LQD | Ishr Ibx Usd Invgd Cb Etf-ui | — | NEW | New buy |
| 26 | SLV | Ishares Silver Trust | — | EXIT | Sold out |
| 27 | B | Barrick Mining CORP | — | EXIT | Sold out |
| 28 | USO | United States Oil Fund LP | — | EXIT | Sold out |
| 29 | EXK | Endeavour Silver CORP | — | EXIT | Sold out |
| 30 | VZLA | Vizsla Silver CORP | — | EXIT | Sold out |
| 31 | AMZN | Amazon.com INC | — | EXIT | Sold out |
| 32 | SU | Suncor Energy INC | — | NEW | New buy |
| 33 | DHR | Danaher CORP | — | EXIT | Sold out |
| 34 | CM | Can Imperial Bk Of Commerce | — | EXIT | Sold out |
| 35 | CVE | Cenovus Energy INC | — | NEW | New buy |
| 36 | RSP | Invesco S&p 500 Equal Weight | — | EXIT | Sold out |
| 37 | EXE | Expand Energy CORP | — | EXIT | Sold out |
| 38 | APH | Amphenol Corp-cl A | — | EXIT | Sold out |
| 39 | ELS | Equity Lifestyle Properties | — | EXIT | Sold out |
| 40 | AR | Antero Resources CORP | — | EXIT | Sold out |
| 41 | LNG | Cheniere Energy INC | — | NEW | New buy |
| 42 | AMLP | Alerian Mlp ETF | — | EXIT | Sold out |
| 43 | EA | Electronic Arts INC | — | NEW | New buy |
| 44 | NI | Nisource INC | — | NEW | New buy |
| 45 | BROS | Dutch Bros Inc-class A | — | EXIT | Sold out |
| 46 | BEP | Brookfield Renewable Partners L.P. | — | NEW | New buy |
| 47 | ETHA | Ishares Ethereum Trust ETF | — | EXIT | Sold out |
| 48 | BAC | Bank Of America CORP | — | EXIT | Sold out |
| 49 | CCJ | Cameco CORP | — | EXIT | Sold out |
| 50 | CNQ | Canadian Natural Resources | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-11 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-09 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-10 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-11 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-13 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-12 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-12 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-12 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-14 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-12 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-13 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-14 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-11 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-10 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-07 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-15 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-09 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-14 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-11-02 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-08-03 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-05-11 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-02-08 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-11-12 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-08-14 | Amendment | View on EDGAR |
| 2020-06-30 | 2020-08-12 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-05-05 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-02-13 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-11-29 | Amendment | View on EDGAR |
| 2019-09-30 | 2019-10-25 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-07-23 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-05-07 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-02-07 | Amendment | View on EDGAR |
| 2018-12-31 | 2019-02-06 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-10-26 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-08-14 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-05-08 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-02-09 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-11-13 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-08-14 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-05-11 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-02-13 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2016-11-14 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-08-05 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-05-04 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-02-12 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2015-11-03 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2015-07-30 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2015-05-11 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2015-02-11 | 13F-HR | View on EDGAR |
| 2014-09-30 | 2014-11-12 | 13F-HR | View on EDGAR |
| 2014-06-30 | 2014-08-13 | 13F-HR | View on EDGAR |
| 2014-03-31 | 2014-05-15 | 13F-HR | View on EDGAR |
| 2013-12-31 | 2014-02-14 | 13F-HR | View on EDGAR |
| 2013-09-30 | 2013-11-06 | 13F-HR | View on EDGAR |
| 2013-06-30 | 2013-08-13 | 13F-HR | View on EDGAR |
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