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AC

Addenda Capital Portfolio holdings

AUM $3.68B
1-Year Est. Return 32.88%
This Fund
S&P 500
This Quarter Est. Return
+12.32%
1 Year Est. Return
+32.88%
3 Year Est. Return
+86.03%
5 Year Est. Return
+93.17%
10 Year Est. Return
+288.23%
AUM
$2.79B
AUM Growth
+$81.8M
Cap. Flow
-$66.3M
Cap. Flow %
-2.38%
Top 10 Hldgs %
38.04%
Holding
126
New
3
Increased
50
Reduced
66
Closed
6

Top Buys

Rank Stock Value
1
EMA
Emera Inc
EMA
+$21.4M
2
FNV icon
Franco-Nevada
FNV
+$19.3M
3
TFII icon
TFI International
TFII
+$9.68M
4
CNQ icon
Canadian Natural Resources
CNQ
+$7.13M
5
URI icon
United Rentals
URI
+$6.32M

Top Sells

Rank Stock Value
1
WPM icon
Wheaton Precious Metals
WPM
+$52.7M
2
MFC icon
Manulife Financial
MFC
+$16.2M
3
BN icon
Brookfield
BN
+$15.6M
4
UNH icon
UnitedHealth
UNH
+$14M
5
CCJ icon
Cameco
CCJ
+$11.8M

Sector Composition

Rank Sector Weight
1 Financials 26.7%
2 Technology 16.15%
3 Energy 13.87%
4 Industrials 13.65%
5 Materials 11.53%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CVE icon
101
Cenovus Energy
CVE
$54.9B
$6.28M 0.23%
338,935
-17,570
-5% -$228K
DD icon
102
DuPont de Nemours
DD
$18.8B
$6.18M 0.22%
71,761
-429
-0.6% -$35.7K
PFE icon
103
Pfizer
PFE
$142B
$6.16M 0.22%
254,203
-1,510
-0.6% -$35.2K
UNP icon
104
Union Pacific
UNP
$172B
$6.15M 0.22%
26,712
+564
+2% +$125K
MRK icon
105
Merck
MRK
$316B
$6.12M 0.22%
76,770
+19,291
+34% +$1.53M
FDX icon
106
FedEx
FDX
$72.8B
$6.06M 0.22%
26,514
-159
-0.6% -$34.8K
DOW icon
107
Dow Inc
DOW
$21.9B
$6.06M 0.22%
228,741
+55,992
+32% +$1.63M
RIO icon
108
Rio Tinto
RIO
$156B
$5.81M 0.21%
99,617
-591
-0.6% -$34.9K
HMC icon
109
Honda
HMC
$38.7B
$5.74M 0.21%
199,012
-1,189
-0.6% -$34.7K
GRP.U
110
DELISTED
Granite Real Estate Investment Trust
GRP.U
$5.34M 0.19%
76,853
+690
+0.9% +$32.9K
IWM icon
111
iShares Russell 2000 ETF
IWM
$81.4B
$4.91M 0.18%
22,750
+250
+1% +$50.3K
BALL icon
112
Ball Corp
BALL
$17.4B
$3.07M 0.11%
54,718
-50,110
-48% -$2.62M
SHW icon
113
Sherwin-Williams
SHW
$84.5B
$2.38M 0.09%
+6,931
New +$2.4M
BDX icon
114
Becton Dickinson
BDX
$46.3B
$1.43M 0.05%
8,274
-7,947
-49% -$1.46M
OR icon
115
OR Royalties Inc
OR
$5.63B
$1.34M 0.05%
38,162
-4,099
-10% -$98.8K
DOO
116
Bombardier Recreational Products
DOO
$4.57B
$1.21M 0.04%
18,274
+3,575
+24% +$141K
BIPC icon
117
Brookfield Infrastructure
BIPC
$5.1B
$1.05M 0.04%
18,470
+3,890
+27% +$150K
TAP icon
118
Molson Coors Class B
TAP
$7.85B
$674K 0.02%
14,021
-1,214
-8% -$66.9K
IMO icon
119
Imperial Oil
IMO
$61.4B
$601K 0.02%
5,520
+2,150
+64% +$154K
TU icon
120
Telus
TU
$14.9B
$276K 0.01%
12,400
– –
HON icon
121
Honeywell
HON
$78.4B
– –
-42,920
Closed -$8.57M
KGC icon
122
Kinross Gold
KGC
$27.4B
– –
-25,730
Closed -$466K
LSPD icon
123
Lightspeed Commerce
LSPD
$1.33B
– –
-51,395
Closed -$647K
OTEX icon
124
Open Text
OTEX
$6.28B
– –
-169,703
Closed -$6.16M
SPY icon
125
State Street SPDR S&P 500 ETF Trust
SPY
$804B
– –
-2,628
Closed -$1.47M
2 3 4
5
6

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EPIM
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Addenda Capital's Q2 2025 Portfolio in Review

As of Q2 2025, Addenda Capital held 126 positions worth $2.79B, up 3% from $2.7B the previous quarter. Its ten largest holdings account for 38% of the portfolio.

Addenda Capital's Q2 2025 filing shows 3 new, 50 increased, 66 reduced and 6 closed positions. Its largest new stake was Emera Inc: 477,208 shares worth $29.8M. The largest sale was Wheaton Precious Metals, an estimated $52.7M.

By sector, the portfolio is most concentrated in Financials at 27% of assets, down from 27% a quarter earlier, followed by Technology and Energy.

  • Addenda Capital's largest Q2 2025 buy was Emera Inc: 477,208 shares worth $29.8M.
  • Addenda Capital added most to Franco-Nevada in Q2 2025, an estimated $19.3M increase.
  • Addenda Capital's biggest Q2 2025 reduction was Wheaton Precious Metals, cutting an estimated $52.7M.
  • Addenda Capital fully exited UnitedHealth in Q2 2025, selling an estimated $14M.
  • Addenda Capital's ten largest holdings make up 38% of its $2.79B portfolio in Q2 2025.
  • Addenda Capital opened 3 new positions and closed 6 in Q2 2025.
  • Addenda Capital's portfolio value rose 3% quarter-over-quarter to $2.79B.

Based on Addenda Capital's 13F filing for Q2 2025, filed 17 Jul 2025.