Caldwell Investment Management
TORONTO, A6files as Caldwell Investment Management Ltd.
$152m in 33 US stocks at the end of 30 June 2026. The top 10 are 84.6% of the money. It changed about 45.9% of the portfolio this quarter.
Value
$152m
Stocks
33
Top 10 share
84.6%
Turnover
45.9%
What changed this quarter
New
Bought for the first time this quarter.
- Manulife FinancialMFC6.5% of the fund
- Applied MaterialsAMAT1.0% of the fund
- Acadian Asset ManagementAAMI0.8% of the fund
- Brookfield RenewableBEPC0.8% of the fund
- RB GlobalRBA0.8% of the fund
- Spdr Series TrustKRE0.7% of the fund
- Ryman Hospitality PropertiesRHP0.6% of the fund
- LindeLIN0.6% of the fund
- Applied Industrial TechnologiesAIT0.6% of the fund
- Leonardo DRSDRS0.5% of the fund
- Equinox GoldEQX0.4% of the fund
Added
Bought more of a stock they already held.
- Bank of AmericaBAC13.8% of the fund+6%
- Vertiv HoldingsVRT1.0% of the fund+22%
Cut
Sold some of their stake.
- Cboe Global MktsCBOE17.5% of the fund-7%
- Miami International HoldingsMIAX14.6% of the fund-10%
- Cenovus EnergyCVE1.2% of the fund-74%
- Jacobs SolutionsJ0.6% of the fund-37%
- StantecSTN0.4% of the fund-47%
- Agnico Eagle MinesAEM0.3% of the fund-92%
Sold out
Sold their entire stake.
- Morgan StanleyMS-100%
- CitigroupC-100%
- SprottSII-100%
- Kinross GoldKGC-100%
- CamecoCCJ-100%
- L3harris TechnologiesLHX-100%
- Royal Bank of CanadaRY-100%
- CelesticaCLS-100%
- OvintivOVV-100%
- PfizerPFE-100%
- Comfort Systems USAFIX-100%
- MckessonMCK-100%
- Motorola SolutionsMSI-100%
- TJX CompaniesTJX-100%
- CAECAE-100%
- KLAKLAC-100%
- MicrosoftMSFT-100%
- Thermo Fisher ScientificTMO-100%
- Curtiss WrightCW-100%
- Howmet AerospaceHWM-100%
- Quanta Svcs-100%
- RollinsROL-100%
- Canadian National RailwayCNI-100%
- ArchrockAROC-100%
- Lam ResearchLRCX-100%
Holdings
- Cboe Global MktsCBOE
- Share
- 17.5%
- Value
- $27m
- Shares
- 110,000
-7%
- EnerflexEFXT
- Share
- 6.6%
- Value
- $10m
- Shares
- 411,000
Held
- Manulife FinancialMFC
- Share
- 6.5%
- Value
- $10m
- Shares
- 244,000
New
- ElectrovayaELVA
- Share
- 2.7%
- Value
- $4m
- Shares
- 398,000
Held
- Cenovus EnergyCVE
- Share
- 1.2%
- Value
- $2m
- Shares
- 74,800
-74%
- ATS Corp /ATSATS
- Share
- 1.1%
- Value
- $2m
- Shares
- 60,800
Held
- Spdr Series TrustKRE
- Share
- 0.7%
- Value
- $1m
- Shares
- 14,300
New
- CGIGIB
- Share
- 0.5%
- Value
- $832,801
- Shares
- 12,910
Held
- StantecSTN
- Share
- 0.4%
- Value
- $647,058
- Shares
- 9,400
-47%
- Equinox GoldEQX
- Share
- 0.4%
- Value
- $544,608
- Shares
- 56,000
New
- Agnico Eagle MinesAEM
- Share
- 0.3%
- Value
- $465,202
- Shares
- 3,000
-92%
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| Cboe Global MktsCBOE | 17.5% | $27m | 110,000 | -7% |
| Miami International HoldingsMIAX | 14.6% | $22m | 600,000 | -10% |
| Bank of AmericaBAC | 13.8% | $21m | 370,400 | +6% |
| KKRKKR | 12.0% | $18m | 200,000 | Held |
| Intercontinental ExchangeICE | 8.1% | $12m | 100,000 | Held |
| EnerflexEFXT | 6.6% | $10m | 411,000 | Held |
| Manulife FinancialMFC | 6.5% | $10m | 244,000 | New |
| ElectrovayaELVA | 2.7% | $4m | 398,000 | Held |
| Amazon.comAMZN | 1.5% | $2m | 9,300 | Held |
| Cenovus EnergyCVE | 1.2% | $2m | 74,800 | -74% |
| ATS Corp /ATSATS | 1.1% | $2m | 60,800 | Held |
| VisaV | 1.1% | $2m | 5,100 | Held |
| Applied MaterialsAMAT | 1.0% | $2m | 2,200 | New |
| Vertiv HoldingsVRT | 1.0% | $1m | 4,400 | +22% |
| JPMorgan ChaseJPM | 0.9% | $1m | 4,100 | Held |
| Acadian Asset ManagementAAMI | 0.8% | $1m | 17,500 | New |
| Interactive Brokers GroupIBKR | 0.8% | $1m | 13,900 | Held |
| Brookfield RenewableBEPC | 0.8% | $1m | 31,200 | New |
| RB GlobalRBA | 0.8% | $1m | 9,900 | New |
| Spdr Series TrustKRE | 0.7% | $1m | 14,300 | New |
| Ryman Hospitality PropertiesRHP | 0.6% | $912,024 | 7,100 | New |
| LindeLIN | 0.6% | $881,540 | 1,700 | New |
| NvidiaNVDA | 0.6% | $879,739 | 4,400 | Held |
| Applied Industrial TechnologiesAIT | 0.6% | $878,534 | 2,600 | New |
| Jacobs SolutionsJ | 0.6% | $868,751 | 6,900 | -37% |
| Waste ConnectionsWCN | 0.6% | $849,485 | 5,100 | Held |
| CGIGIB | 0.5% | $832,801 | 12,910 | Held |
| Leonardo DRSDRS | 0.5% | $810,125 | 19,000 | New |
| ServiceNowNOW | 0.5% | $694,442 | 7,000 | Held |
| StantecSTN | 0.4% | $647,058 | 9,400 | -47% |
| Equinox GoldEQX | 0.4% | $544,608 | 56,000 | New |
| Agnico Eagle MinesAEM | 0.3% | $465,202 | 3,000 | -92% |
| AccentureACN | 0.3% | $397,911 | 3,200 | Held |
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is up 31.9% since 30 June 2025.
Where the money is
Financial services58.7%
Industrials12.1%
Technology5.1%
Retail & consumer1.5%
Utilities1.3%
Materials1.2%
Energy1.2%
Real estate0.6%
Other18.2%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.