Hillsdale Investment Management portfolio

What changed this quarter

693 positions with a change (123 new, 273 added to, 166 trimmed, 131 sold); also, 1 exited through an acquisition or merger, 1 entered through a spin-off. 10 are listed here: those of 0.5 points of the portfolio or more (up to 12).

• Manulife Financial−71%fewer sharesReduced
  1.7% → 0.5%
• Suncor Energy+124%more sharesIncreased
  1.3% → 1.9%
• Canadian Natural Resources+150%more sharesIncreased
  1.0% → 1.7%
• BlackBerry+0.9 ppof portfolioNew
  — → 0.9%
• Pembina Pipeline+207%more sharesIncreased
  0.4% → 1.1%
• Cenovus Energy+92%more sharesIncreased
  0.9% → 1.3%
• Enbridge+57%more sharesIncreased
  1.3% → 1.7%
• Nutrien+231%more sharesIncreased
  0.4% → 0.8%
• Fortis−37%fewer sharesReduced
  1.7% → 0.9%
• Toronto Dominion Bank−15%fewer sharesReduced
  3.1% → 2.8%

The figure on the right: for positions added to or trimmed, the change in the number of shares (%); for new and sold ones, the points of the portfolio moved (pp). Below, the portfolio weight before → after. Traded weight?: what it bought or sold, excluding price effects.

Top holdings

• Royal Bank of CanadaRY4.7%
• Canadian Imperial Bank of CommerceCM2.9%
• Toronto Dominion BankTD2.8%
• Bank of Nova ScotiaBNS2.7%
• EnerflexEFXT2.0%
• Suncor EnergySU1.9%
• Bank of MontrealBMO1.9%
• Canadian Natural ResourcesCNQ1.7%
• EnbridgeENB1.7%
• Agnico Eagle MinesAEM1.4%
• Cenovus EnergyCVE1.3%
• NVIDIANVDA1.3%
• ShopifySHOP1.2%
• AppleAAPL1.1%
• Barrick MiningB1.1%
• Pembina PipelinePBA1.1%
• CelesticaCLS1.0%
• EmeraEMA1.0%
• BCEBCE1.0%
• AlphabetGOOGL1.0%
• BlackBerryBB0.9%
• Centerra GoldCGAU0.9%
• OceanaGoldOGC0.9%
• Magna InternationalMGA0.9%
• FortisFTS0.9%
• Precision DrillingPDS0.9%
• NutrienNTR0.8%
• Wheaton Precious MetalsWPM0.8%
• iShares Msci India Small-cap ETFSMIN0.8%
• MicrosoftMSFT0.7%
• IamgoldIAG0.7%
• SandiskSNDK0.7%
• Amazon.comAMZN0.6%
• First Majestic SilverAG0.5%
• SSR MiningSSRM0.5%
• Manulife FinancialMFC0.5%
• Kinross GoldKGC0.4%
• BrookfieldBN0.4%
• Restaurant Brands InternationalQSR0.4%
• RB GlobalRBA0.4%
• Imperial OilIMO0.4%
• TC EnergyTRP0.4%
• Meta PlatformsMETA0.4%
• Guardant HealthGH0.4%
• Canadian Pacific Kansas CityCP0.4%
• Micron TechnologyMU0.4%
• Canadian National RailwayCNI0.4%
• Garrett MotionGTX0.4%
• Kulicke and Soffa IndustriesKLIC0.4%
• SanminaSANM0.4%
• Enova InternationalENVA0.4%
• Proto LabsPRLB0.4%
• EnerSysENS0.4%
• Aris Water SolutionsARIS0.3%
• NWPX InfrastructureNWPX0.3%
• Bread Financial HoldingsBFH0.3%
• Adaptive BiotechnologiesADPT0.3%
• MYR GroupMYRG0.3%
• Digi InternationalDGII0.3%
• BroadcomAVGO0.3%
• Dycom IndustriesDY0.3%
• Encore Capital GroupECPG0.3%
• FrontdoorFTDR0.3%
• Axsome TherapeuticsAXSM0.3%
• Netscout SystemsNTCT0.3%
• OpenlaneOPLN0.3%
• TeradataTDC0.3%
• Rogers CommunicationsRCI0.3%
• PhiniaPHIN0.3%
• PlexusPLXS0.3%
• RingCentralRNG0.3%
• United Fire GroupUFCS0.3%
• BridgeBio PharmaBBIO0.3%
• CTSCTS0.3%
• MaxLinearMXL0.3%
• Healthcare Services GroupHCSG0.3%
• LifeStance Health GroupLFST0.3%
• Laureate EducationLAUR0.3%
• Delek US HoldingsDK0.3%
• HarmonicHLIT0.3%
• Pediatrix Medical GroupMD0.3%
• InterfaceTILE0.3%
• Rush Street InteractiveRSI0.3%
• Monarch Casino & ResortMCRI0.3%
• TECK ResourcesTECK0.3%
• Diebold NixdorfDBD0.3%
• Douglas DynamicsPLOW0.3%
• Watts Water TechnologiesWTS0.3%
• Helios TechnologiesHLIO0.3%
• Amneal PharmaceuticalsAMRX0.3%
• OvintivOVV0.3%
• EL Pollo LOCO HoldingsLOCO0.3%
• ConstelliumCSTM0.3%
• ERO CopperERO0.3%
• Extreme NetworksEXTR0.3%
• Blue BirdBLBD0.2%
• FormFactorFORM0.2%
• Par Pacific HoldingsPARR0.2%
• Maravai LifeSciences HoldingsMRVI0.2%
• John Wiley & SonsWLY0.2%