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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
+11.43%
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
$3.38B
AUM Growth
+$594M
Cap. Flow
+$252M
Cap. Flow %
7.46%
Top 10 Hldgs %
37.93%
Holding
127
New
7
Increased
67
Reduced
51
Closed
1

Top Buys

Rank Stock Value
1
WPM icon
Wheaton Precious Metals
WPM
+$17.9M
2
MSFT icon
Microsoft
MSFT
+$16.3M
3
TECK icon
Teck Resources
TECK
+$13M
4
GOOG icon
Alphabet (Google) Class C
GOOG
+$12.9M
5
AAPL icon
Apple
AAPL
+$12.7M

Top Sells

Rank Stock Value
1
DSGX icon
Descartes Systems
DSGX
+$17.1M
2
CNQ icon
Canadian Natural Resources
CNQ
+$6.13M
3
CP icon
Canadian Pacific Kansas City
CP
+$6.12M
4
CCJ icon
Cameco
CCJ
+$5.01M
5
FNV icon
Franco-Nevada
FNV
+$2.71M

Sector Composition

Rank Sector Weight
1 Financials 26.49%
2 Technology 16.61%
3 Materials 14.64%
4 Energy 12.44%
5 Industrials 11.16%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AEM icon
1
Agnico Eagle Mines
AEM
$73.6B
$170M 5.02%
724,231
+15,965
+2% +$2.19M
TD icon
2
Toronto Dominion Bank
TD
$198B
$147M 4.36%
1,325,250
+24,444
+2% +$1.83M
RY icon
3
Royal Bank of Canada
RY
$291B
$147M 4.35%
717,131
+32,992
+5% +$4.55M
SHOP icon
4
Shopify
SHOP
$152B
$144M 4.26%
696,130
-19,612
-3% -$2.66M
BMO icon
5
Bank of Montreal
BMO
$126B
$133M 3.94%
734,616
+63,432
+9% +$7.51M
BN icon
6
Brookfield
BN
$104B
$132M 3.92%
2,079,974
-7,020
-0.3% -$311K
AGI icon
7
Alamos Gold
AGI
$11.6B
$110M 3.26%
2,274,863
+329,935
+17% +$9.43M
ENB icon
8
Enbridge
ENB
$119B
$101M 3%
1,444,005
-4,378
-0.3% -$206K
BNS icon
9
Scotiabank
BNS
$107B
$98.5M 2.91%
1,094,330
+126,409
+13% +$7.45M
CNQ icon
10
Canadian Natural Resources
CNQ
$99.4B
$98.1M 2.9%
2,175,075
-195,810
-8% -$6.13M
CP icon
11
Canadian Pacific Kansas City
CP
$78.1B
$83.4M 2.47%
802,918
-80,073
-9% -$6.12M
WPM icon
12
Wheaton Precious Metals
WPM
$49.5B
$73.6M 2.18%
472,290
+183,123
+63% +$17.9M
TRP icon
13
TC Energy
TRP
$70.2B
$71.9M 2.13%
939,384
-4,744
-0.5% -$238K
MSFT icon
14
Microsoft
MSFT
$3.45T
$67.8M 2.01%
130,940
+31,907
+32% +$16.3M
AVGO icon
15
Broadcom
AVGO
$1.85T
$62.3M 1.84%
188,956
+35,367
+23% +$10.9M
CNI icon
16
Canadian National Railway
CNI
$76.9B
$61.5M 1.82%
468,314
-946
-0.2% -$91.3K
AAPL icon
17
Apple
AAPL
$4.54T
$54.7M 1.62%
214,901
+56,000
+35% +$12.7M
CCJ icon
18
Cameco
CCJ
$37.6B
$51.9M 1.53%
444,156
-64,658
-13% -$5.01M
WCN
19
Waste Connections
WCN
$42.2B
$51.4M 1.52%
210,050
-964
-0.5% -$175K
GOOG icon
20
Alphabet (Google) Class C
GOOG
$4.36T
$50.4M 1.49%
206,756
+61,603
+42% +$12.9M
CM icon
21
Canadian Imperial Bank of Commerce
CM
$108B
$49.6M 1.47%
441,839
-2,842
-0.6% -$214K
SU icon
22
Suncor Energy
SU
$79.4B
$45.8M 1.36%
786,380
-2,927
-0.4% -$117K
GIB icon
23
CGI
GIB
$15.1B
$43M 1.27%
346,801
-1,046
-0.3% -$101K
NVDA icon
24
NVIDIA
NVDA
$4.86T
$41.6M 1.23%
223,090
+42,410
+23% +$7.39M
BIP icon
25
Brookfield Infrastructure Partners
BIP
$19.2B
$36.8M 1.09%
802,124
+97,533
+14% +$3.07M
1
2 3 4 5

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TGA
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EPIM
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HIM
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BB
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MTIM
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GCM
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Addenda Capital's Q3 2025 Portfolio in Review

As of Q3 2025, Addenda Capital held 127 positions worth $3.38B, up 21% from $2.79B the previous quarter. Its ten largest holdings account for 38% of the portfolio.

Addenda Capital deployed $252M of net new capital in Q3 2025, opening 7 new positions and adding to 67 existing holdings. Its largest new stake was TransUnion: 53,867 shares worth $4.51M.

By sector, the portfolio is most concentrated in Financials at 26% of assets, down from 27% a quarter earlier, followed by Technology and Materials.

On the sell side, the largest reduction was Descartes Systems, an estimated $17.1M trimmed.

  • Addenda Capital's largest Q3 2025 buy was TransUnion: 53,867 shares worth $4.51M.
  • Addenda Capital added most to Wheaton Precious Metals in Q3 2025, an estimated $17.9M increase.
  • Addenda Capital's biggest Q3 2025 reduction was Descartes Systems, cutting an estimated $17.1M.
  • Addenda Capital fully exited Becton Dickinson in Q3 2025, selling an estimated $1.43M.
  • Addenda Capital's ten largest holdings make up 38% of its $3.38B portfolio in Q3 2025.
  • Addenda Capital opened 7 new positions and closed 1 in Q3 2025.
  • Addenda Capital's portfolio value rose 21% quarter-over-quarter to $3.38B.

Based on Addenda Capital's 13F filing for Q3 2025, filed 9 Oct 2025.