Ravenstone Capital Management

TORONTO, A6files as Ravenstone Capital Management Inc.

$244m in 54 US stocks at the end of 30 June 2026. The top 10 are 59.1% of the money. It changed about 11.6% of the portfolio this quarter.

Value

$244m

Stocks

Top 10 share

59.1%

Turnover

11.6%

What changed this quarter

New

Bought for the first time this quarter.

MastercardMA
2.6% of the fund
Direxion Shares ETF TrustSOXL
<0.1% of the fund
Vanguard Index FDSVTI
<0.1% of the fund
Ishares Gold TRIAU
<0.1% of the fund
CrowdStrike HoldingsCRWD
<0.1% of the fund
Ishares TRIEFA
<0.1% of the fund
State STR Spdr S&P 500 ETF TSPY
<0.1% of the fund
Invesco QQQ TRQQQ
<0.1% of the fund
Quanta ServicesPWR
<0.1% of the fund
Goldman Sachs ETF TRGSWO
<0.1% of the fund
IsharesEEMV
<0.1% of the fund
Galaxy DigitalGLXY
<0.1% of the fund
World Gold TRGLDM
<0.1% of the fund

Added

Bought more of a stock they already held.

VisaV
7.2% of the fund
+3%
AmphenolAPH
6.9% of the fund
+3%
Royal Bank of CanadaRY
6.4% of the fund
+2%
MicrosoftMSFT
5.8% of the fund
+3%
Berkshire HathawayBRK-B
5.0% of the fund
+10132%
BrookfieldBN
4.9% of the fund
+3%
Thermo Fisher ScientificTMO
4.9% of the fund
+4%
FastenalFAST
4.8% of the fund
+3%
Canadian Pacific Kansas CityCP
4.7% of the fund
+4%
DanaherDHR
4.5% of the fund
+9%
S&P GlobalSPGI
4.4% of the fund
+4%
Sherwin-WilliamsSHW
4.4% of the fund
+3%
Canadian National RailwayCNI
4.4% of the fund
+2%
Home DepotHD
4.1% of the fund
+4%
Waste ConnectionsWCN
3.8% of the fund
+5%
Becton DickinsonBDX
3.3% of the fund
+11%
Intuitive SurgicalISRG
2.8% of the fund
+8%

Cut

Sold some of their stake.

Ishares TRTLT
0.6% of the fund
-2%
AlphabetGOOGL
0.3% of the fund
-7%
Amazon.comAMZN
<0.1% of the fund
-13%
SnowflakeSNOW
<0.1% of the fund
-22%
NvidiaNVDA
<0.1% of the fund
-67%
TeslaTSLA
<0.1% of the fund
-36%
Taiwan Semiconductor ManufacturingTSM
<0.1% of the fund
-61%
Vertiv HoldingsVRT
<0.1% of the fund
-93%

Sold out

Sold their entire stake.

ZoetisZTS
-100%
Constellation EnergyCEG
-100%
BroadcomAVGO
-100%
VistraVST
-100%
Applied MaterialsAMAT
-100%
Lockheed MartinLMT
-100%
ASML Holding NVASML
-100%
RTXRTX
-100%
ARM HoldingsARM
-100%
Rockwell AutomationROK
-100%
Eli LillyLLY
-100%
AbbVieABBV
-100%
Kratos Defense & Security SolutionsKTOS
-100%
HUB Cyber Security
-100%

Holdings

VisaV
Share
7.2%
Value
$18m
Shares
51,468
+3%
AmphenolAPH
Share
6.9%
Value
$17m
Shares
96,109
+3%
AlphabetGOOG
Share
6.9%
Value
$17m
Shares
47,451
Held
Royal Bank of CanadaRY
Share
6.4%
Value
$16m
Shares
76,182
+2%
FortinetFTNT
Share
6.4%
Value
$16m
Shares
101,116
Held
MicrosoftMSFT
Share
5.8%
Value
$14m
Shares
37,943
+3%
Berkshire HathawayBRK-B
Share
5.0%
Value
$12m
Shares
24,353
+10132%
BrookfieldBN
Share
4.9%
Value
$12m
Shares
280,004
+3%
Thermo Fisher ScientificTMO
Share
4.9%
Value
$12m
Shares
23,658
+4%
FastenalFAST
Share
4.8%
Value
$12m
Shares
244,335
+3%
Canadian Pacific Kansas CityCP
Share
4.7%
Value
$12m
Shares
133,314
+4%
DanaherDHR
Share
4.5%
Value
$11m
Shares
57,996
+9%
S&P GlobalSPGI
Share
4.4%
Value
$11m
Shares
26,578
+4%
Sherwin-WilliamsSHW
Share
4.4%
Value
$11m
Shares
31,264
+3%
Canadian National RailwayCNI
Share
4.4%
Value
$11m
Shares
90,119
+2%
Home DepotHD
Share
4.1%
Value
$10m
Shares
28,705
+4%
Waste ConnectionsWCN
Share
3.8%
Value
$9m
Shares
55,303
+5%
Becton DickinsonBDX
Share
3.3%
Value
$8m
Shares
52,756
+11%
Intuitive SurgicalISRG
Share
2.8%
Value
$7m
Shares
17,082
+8%
MastercardMA
Share
2.6%
Value
$6m
Shares
12,555
New
Ishares TRTLT
Share
0.6%
Value
$2m
Shares
17,766
-2%
Bank of Nova ScotiaBNS
Share
0.4%
Value
$928,605
Shares
10,705
Held
AlphabetGOOGL
Share
0.3%
Value
$821,236
Shares
2,298
-7%
Ceco EnvironmentalCECO
Share
0.1%
Value
$249,535
Shares
2,750
Held
Meta PlatformsMETA
Share
<0.1%
Value
$225,316
Shares
400
Held
Amazon.comAMZN
Share
<0.1%
Value
$204,973
Shares
860
-13%
Costco WholesaleCOST
Share
<0.1%
Value
$187,094
Shares
200
Held
CamecoCCJ
Share
<0.1%
Value
$66,630
Shares
655
Held
SnowflakeSNOW
Share
<0.1%
Value
$54,717
Shares
215
-22%
Direxion Shares ETF TrustSOXL
Share
<0.1%
Value
$53,342
Shares
200
New
IonQIONQ
Share
<0.1%
Value
$19,706
Shares
370
Held
NvidiaNVDA
Share
<0.1%
Value
$17,208
Shares
86
-67%
TeslaTSLA
Share
<0.1%
Value
$14,721
Shares
35
-36%
Vanguard Index FDSVTI
Share
<0.1%
Value
$11,841
Shares
32
New
Ishares Gold TRIAU
Share
<0.1%
Value
$11,325
Shares
150
New
CrowdStrike HoldingsCRWD
Share
<0.1%
Value
$7,632
Shares
10
New
Taiwan Semiconductor ManufacturingTSM
Share
<0.1%
Value
$6,686
Shares
14
-61%
Ishares TRIEFA
Share
<0.1%
Value
$6,181
Shares
64
New
State STR Spdr S&P 500 ETF TSPY
Share
<0.1%
Value
$5,974
Shares
8
New
Invesco QQQ TRQQQ
Share
<0.1%
Value
$5,892
Shares
8
New
Walt DisneyDIS
Share
<0.1%
Value
$5,775
Shares
60
Held
Quanta ServicesPWR
Share
<0.1%
Value
$5,760
Shares
8
New
Toronto Dominion BankTD
Share
<0.1%
Value
$4,854
Shares
40
Held
Goldman Sachs ETF TRGSWO
Share
<0.1%
Value
$4,060
Shares
64
New
Vertiv HoldingsVRT
Share
<0.1%
Value
$4,018
Shares
12
-93%
Ishares Bitcoin Trust ETFIBIT
Share
<0.1%
Value
$2,663
Shares
80
Held
IsharesEEMV
Share
<0.1%
Value
$1,957
Shares
26
New
Galaxy DigitalGLXY
Share
<0.1%
Value
$1,312
Shares
48
New
World Gold TRGLDM
Share
<0.1%
Value
$715
Shares
9
New
RokuROKU
Share
<0.1%
Value
$553
Shares
4
Held
SndlSNDL
Share
<0.1%
Value
$514
Shares
383
Held
SnapSNAP
Share
<0.1%
Value
$155
Shares
35
Held
Canopy GrowthCGC
Share
<0.1%
Value
$10
Shares
10
Held
Wts-Leafly Hldgs 4feb27LFLYW
Share
0.0%
Value
$0
Shares
125
Held

Company	Share of fund	Value	Shares	Change
VisaV	7.2%	$18m	51,468	+3%
AmphenolAPH	6.9%	$17m	96,109	+3%
AlphabetGOOG	6.9%	$17m	47,451	Held
Royal Bank of CanadaRY	6.4%	$16m	76,182	+2%
FortinetFTNT	6.4%	$16m	101,116	Held
MicrosoftMSFT	5.8%	$14m	37,943	+3%
Berkshire HathawayBRK-B	5.0%	$12m	24,353	+10132%
BrookfieldBN	4.9%	$12m	280,004	+3%
Thermo Fisher ScientificTMO	4.9%	$12m	23,658	+4%
FastenalFAST	4.8%	$12m	244,335	+3%
Canadian Pacific Kansas CityCP	4.7%	$12m	133,314	+4%
DanaherDHR	4.5%	$11m	57,996	+9%
S&P GlobalSPGI	4.4%	$11m	26,578	+4%
Sherwin-WilliamsSHW	4.4%	$11m	31,264	+3%
Canadian National RailwayCNI	4.4%	$11m	90,119	+2%
Home DepotHD	4.1%	$10m	28,705	+4%
Waste ConnectionsWCN	3.8%	$9m	55,303	+5%
Becton DickinsonBDX	3.3%	$8m	52,756	+11%
Intuitive SurgicalISRG	2.8%	$7m	17,082	+8%
MastercardMA	2.6%	$6m	12,555	New
Ishares TRTLT	0.6%	$2m	17,766	-2%
Bank of Nova ScotiaBNS	0.4%	$928,605	10,705	Held
AlphabetGOOGL	0.3%	$821,236	2,298	-7%
Ceco EnvironmentalCECO	0.1%	$249,535	2,750	Held
Meta PlatformsMETA	<0.1%	$225,316	400	Held
Amazon.comAMZN	<0.1%	$204,973	860	-13%
Costco WholesaleCOST	<0.1%	$187,094	200	Held
CamecoCCJ	<0.1%	$66,630	655	Held
SnowflakeSNOW	<0.1%	$54,717	215	-22%
Direxion Shares ETF TrustSOXL	<0.1%	$53,342	200	New
IonQIONQ	<0.1%	$19,706	370	Held
NvidiaNVDA	<0.1%	$17,208	86	-67%
TeslaTSLA	<0.1%	$14,721	35	-36%
Vanguard Index FDSVTI	<0.1%	$11,841	32	New
Ishares Gold TRIAU	<0.1%	$11,325	150	New
CrowdStrike HoldingsCRWD	<0.1%	$7,632	10	New
Taiwan Semiconductor ManufacturingTSM	<0.1%	$6,686	14	-61%
Ishares TRIEFA	<0.1%	$6,181	64	New
State STR Spdr S&P 500 ETF TSPY	<0.1%	$5,974	8	New
Invesco QQQ TRQQQ	<0.1%	$5,892	8	New
Walt DisneyDIS	<0.1%	$5,775	60	Held
Quanta ServicesPWR	<0.1%	$5,760	8	New
Toronto Dominion BankTD	<0.1%	$4,854	40	Held
Goldman Sachs ETF TRGSWO	<0.1%	$4,060	64	New
Vertiv HoldingsVRT	<0.1%	$4,018	12	-93%
Ishares Bitcoin Trust ETFIBIT	<0.1%	$2,663	80	Held
IsharesEEMV	<0.1%	$1,957	26	New
Galaxy DigitalGLXY	<0.1%	$1,312	48	New
World Gold TRGLDM	<0.1%	$715	9	New
RokuROKU	<0.1%	$553	4	Held
SndlSNDL	<0.1%	$514	383	Held
SnapSNAP	<0.1%	$155	35	Held
Canopy GrowthCGC	<0.1%	$10	10	Held
Wts-Leafly Hldgs 4feb27LFLYW	0.0%	$0	125	Held

Over time and by industry

Value over time

Dec '25

Jun '26

Value is up 19.6% since 30 September 2025.

Where the money is

Financial services26.1%

Technology19.1%

Health care15.4%

Industrials14.0%

Media & telecom7.3%

Real estate4.9%

Materials4.4%

Retail & consumer4.2%

Utilities3.8%

Everyday goods0.1%

Other0.7%

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.