TPM

Triasima Portfolio Management Portfolio holdings

AUM $547M

1-Year Est. Return 43.19%

2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4

This Quarter Est. Return

1 Year Est. Return

+43.19%

3 Year Est. Return

5 Year Est. Return

10 Year Est. Return

AUM

$547M

AUM Growth

+$38.9M (+7.7%)

Cap. Flow

Cap. Flow % of AUM

Top 10 Holdings % Top 10 Hldgs %

Holding

167

New

Increased

Reduced

Closed

Top Buys

1		+$8.49M
2		+$5.78M
3		+$4.62M
4	Fortis FTS	+$4.61M
5	RELX RELX	+$4.57M

Top Sells

1		+$10.7M
2		+$7.45M
3		+$6.53M
4	Kinross Gold KGC	+$5.53M
5	Scotiabank BNS	+$5.19M

Sector Composition

1	Financials	27.9%
2	Technology	17.24%
3	Industrials	15.74%
4	Materials	11.14%
5	Consumer Discretionary	8.19%

Communication Services

Advertising Agencies

Broadcasting

Electronic Gaming & Multimedia

Entertainment

Internet Content & Information

Publishing

Telecom Services

Consumer Discretionary

Apparel Manufacturing

Apparel Retail

Auto Manufacturers

Auto Parts

Auto & Truck Dealerships

Department Stores

Footwear & Accessories

Furnishings, Fixtures & Appliances

Gambling

Home Improvement Retail

Internet Retail

Leisure

Lodging

Luxury Goods

Packaging & Containers

Personal Services

Recreational Vehicles

Residential Construction

Resorts & Casinos

Restaurants

Specialty Retail

Textile Manufacturing

Travel Services

Consumer Staples

Beverages - Brewers

Beverages - Non-Alcoholic

Beverages - Wineries & Distilleries

Confectioners

Discount Stores

Education & Training Services

Farm Products

Food Distribution

Grocery Stores

Household & Personal Products

Packaged Foods

Tobacco

Energy

Oil & Gas Drilling

Oil & Gas Equipment & Services

Oil & Gas Exploration & Production

Oil & Gas Integrated

Oil & Gas Midstream

Oil & Gas Refining & Marketing

Thermal Coal

Uranium

Financials

Asset Management

Banks - Diversified

Banks - Regional

Capital Markets

Credit Services

Diversified Insurance

Financial Conglomerates

Financial Data & Stock Exchanges

Insurance Brokers

Life Insurance

Mortgage Finance

Property & Casualty Insurance

Reinsurance

Shell Companies

Specialty - Insurance

Healthcare

Biotechnology

Diagnostics & Research

Drug Manufacturers - General

Drug Manufacturers - Specialty & Generic

Healthcare Plans

Health Information Services

Medical Care Facilities

Medical Devices

Medical Distribution

Medical Instruments & Supplies

Pharmaceutical Retailers

Industrials

Aerospace & Defense

Airlines

Airports & Air Services

Building Products & Equipment

Business Equipment & Supplies

Conglomerates

Consulting Services

Electrical Equipment & Parts

Engineering & Construction

Farm & Heavy Construction Machinery

Industrial Distribution

Infrastructure Operations

Integrated Freight & Logistics

Marine Shipping

Metal Fabrication

Pollution & Treatment Controls

Railroads

Rental & Leasing Services

Security & Protection Services

Specialty Business Services

Specialty Industrial Machinery

Staffing & Employment Services

Tools & Accessories

Trucking

Waste Management

Materials

Agricultural Inputs

Aluminum

Building Materials

Chemicals

Coking Coal

Copper

Gold

Lumber & Wood Production

Other Industrial Metals & Mining

Other Precious Metals & Mining

Paper & Paper Products

Silver

Specialty Chemicals

Steel

Real Estate

Diversified REIT

Healthcare Facilities REIT

Hotel & Motel REIT

Industrial REIT

Mortgage REIT

Office REIT

Real Estate Development

Real Estate Diversified

Real Estate Services

Residential REIT

Retail REIT

Specialty REIT

Technology

Communication Equipment

Computer Hardware

Consumer Electronics

Electronic Components

Electronics & Computer Distribution

Information Technology Services

Scientific & Technical Instruments

Semiconductor Equipment & Materials

Semiconductors

Software - Application

Software - Infrastructure

Solar

Utilities

Diversified Utilities

Electric Utilities

Gas Utilities

Independent Power Producers

Renewable Electricity

Water Utilities

#	Name	Market Value	Portfolio Weight	Shares or Principal
1	1 Royal Bank of Canada RY $205B	$28.5M	5.21%	216,559 -56,638
2	2 Brookfield BN $98.8B	$16.4M	2.99%	264,943 -105,729
3	3 Shopify SHOP $203B	$15.5M	2.82%	134,249 -22,550
4	4 Celestica CLS $32.2B	$14.5M	2.64%	92,775 -14,005
5	5 Canadian Imperial Bank of Commerce CM $74.5B	$13.6M	2.49%	192,086 -3,750
6	6 Kinross Gold KGC $33.6B	$13.4M	2.45%	859,091 -354,541
7	7 Enbridge ENB $103B	$11.9M	2.17%	262,391 +33,325
8	8 Alamos Gold AGI $15.8B	$11.6M	2.11%	435,364 -148,200
9	9 Bank of Montreal BMO $89.3B	$11.5M	2.09%	103,567 -39,505
10	10 NVIDIA NVDA $4.43T	$10.2M	1.87%	64,600 +10,091
11	11 Fortis FTS $25.9B	$9.99M	1.83%	209,745 +96,685
12	12 Thomson Reuters TRI $70.5B	$9.43M	1.72%	46,995 -7,210
13	13 Broadcom AVGO $1.67T	$9.41M	1.72%	34,122 +3,153
14	14 Microsoft MSFT $3.8T	$9.24M	1.69%	18,575 +1,818
15	15 Nutrien NTR $27.4B	$8.99M	1.64%	154,600 +2,358
16	16 Ferrari RACE $69.8B	$8.94M	1.63%	18,223 -3,388
17	17 Alphabet (Google) Class A GOOGL $3.04T	$8.56M	1.56%	48,588 -7,703
18	18 Toronto Dominion Bank TD $134B	$8.49M	1.55%	+115,690
19	19 Mercado Libre MELI $104B	$8.36M	1.53%	3,200 +275
20	20 Ares Management ARES $31B	$8.19M	1.5%	47,287 -1,092
21	21 RB Global RBA $18.6B	$8.03M	1.47%	75,749 -1,501
22	22 JPMorgan Chase JPM $813B	$7.87M	1.44%	27,154 +3,796
23	23 RELX RELX $81.9B	$6.94M	1.27%	127,720 +84,010
24	24 Manulife Financial MFC $53.5B	$6.87M	1.26%	215,410 -146,893
25	25 Welltower WELL $115B	$6.53M	1.19%	42,449 +5,341