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TPM

Triasima Portfolio Management Portfolio holdings

AUM $740M
1-Year Est. Return 69.74%
This Fund
S&P 500
This Quarter Est. Return
+10.21%
1 Year Est. Return
+69.74%
3 Year Est. Return
+210.44%
5 Year Est. Return
+289.05%
10 Year Est. Return
–
AUM
$668M
AUM Growth
+$5.12M
Cap. Flow
-$42.6M
Cap. Flow %
-6.38%
Top 10 Hldgs %
31.7%
Holding
171
New
22
Increased
58
Reduced
50
Closed
28
Avg Time Held
4.3 quarters
Top 10 Avg Time Held
4.5 quarters
Top 20 Avg Time Held
3.8 quarters

Top Buys

Rank Stock Value
1
CCJ icon
Cameco
CCJ
+$6.04M
2
LLY icon
Eli Lilly
LLY
+$5.71M
3
TJX icon
TJX Companies
TJX
+$5.21M
4
CVE icon
Cenovus Energy
CVE
+$5.08M
5
AAPL icon
Apple
AAPL
+$4.69M

Top Sells

Rank Stock Value
1
RBA icon
RB Global
RBA
+$12.1M
2
CLS icon
Celestica
CLS
+$10.8M
3
NTR icon
Nutrien
NTR
+$8.55M
4
ARES icon
Ares Management
ARES
+$7.79M
5
AXON icon
Axon Enterprise
AXON
+$6.7M

Sector Composition

Rank Sector Weight
1 Financials 29%
2 Technology 21.66%
3 Materials 12.37%
4 Industrials 7.35%
5 Energy 7.11%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
RY icon
1
Royal Bank of Canada
RY
$270B
$41M 6.15%
240,459
+15,780
+7% +$2.42M
2020 Q4
20 quarters
SHOP icon
2
Shopify
SHOP
$227B
$29.4M 4.4%
182,338
+18,028
+11% +$2.89M
2024 Q4
4 quarters
TD icon
3
Toronto Dominion Bank
TD
$193B
$23.7M 3.55%
251,170
+23,157
+10% +$1.96M
2025 Q2
2 quarters
KGC icon
4
Kinross Gold
KGC
$27.8B
$21.8M 3.27%
774,257
-40,704
-5% -$1.06M
2023 Q3
9 quarters
CM icon
5
Canadian Imperial Bank of Commerce
CM
$101B
$20.2M 3.03%
222,689
-5,373
-2% -$461K
2023 Q4
8 quarters
BN icon
6
Brookfield
BN
$81.9B
$18.3M 2.74%
397,781
-35,518
-8% -$1.62M
2022 Q4
12 quarters
BMO icon
7
Bank of Montreal
BMO
$115B
$15.1M 2.26%
116,166
+16,274
+16% +$2.06M
2024 Q4
4 quarters
GOOGL icon
8
Alphabet (Google) Class A
GOOGL
$4.33T
$14.5M 2.17%
46,316
-2,327
-5% -$665K
2023 Q3
9 quarters
MSFT icon
9
Microsoft
MSFT
$4.04T
$13.8M 2.07%
28,571
+1,115
+4% +$559K
2020 Q4
20 quarters
AVGO icon
10
Broadcom
AVGO
$1.71T
$13.8M 2.06%
39,804
-1,545
-4% -$553K
2023 Q4
8 quarters
NVDA icon
11
NVIDIA
NVDA
$5.52T
$13.2M 1.97%
70,698
-1,144
-2% -$213K
2020 Q4
20 quarters
PAAS icon
12
Pan American Silver
PAAS
$18.5B
$13.1M 1.97%
252,950
+10,945
+5% +$458K
2024 Q4
4 quarters
FTS icon
13
Fortis
FTS
$27.6B
$13M 1.95%
250,091
+17,090
+7% +$876K
2023 Q1
11 quarters
CLS icon
14
Celestica
CLS
$45.1B
$11.8M 1.77%
39,906
-35,697
-47% -$10.8M
2024 Q1
7 quarters
HBM icon
15
Hudbay
HBM
$11.4B
$11.6M 1.74%
584,968
+53,135
+10% +$899K
2025 Q3
1 quarter
TIGO icon
16
Millicom
TIGO
$13.3B
$11.3M 1.69%
203,420
– –
2025 Q2
2 quarters
ENB icon
17
Enbridge
ENB
$106B
$11M 1.65%
230,209
+35,937
+18% +$1.72M
2020 Q4
20 quarters
TSM icon
18
TSMC
TSM
$2.31T
$11M 1.65%
36,210
+7,576
+26% +$2.22M
2024 Q4
4 quarters
TJX icon
19
TJX Companies
TJX
$156B
$10.7M 1.6%
69,679
+35,215
+102% +$5.21M
2023 Q1
11 quarters
IAG icon
20
IAMGOLD
IAG
$10.4B
$10.3M 1.54%
620,937
-73,113
-11% -$1.03M
2024 Q2
6 quarters
JPM icon
21
JPMorgan Chase
JPM
$880B
$10.2M 1.53%
31,715
+3,223
+11% +$998K
2020 Q4
20 quarters
CCJ icon
22
Cameco
CCJ
$37.5B
$9.79M 1.47%
106,764
+67,064
+169% +$6.04M
2024 Q4
4 quarters
BNS icon
23
Scotiabank
BNS
$110B
$9.59M 1.44%
129,807
+23,925
+23% +$1.63M
2020 Q4
20 quarters
CIB icon
24
Grupo Cibest SA
CIB
$22.6B
$8.9M 1.33%
139,897
+34,280
+32% +$2.05M
2025 Q1
3 quarters
WELL icon
25
Welltower
WELL
$166B
$8.29M 1.24%
44,659
-1,550
-3% -$290K
2024 Q4
4 quarters
1
2 3 4 5

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BPC
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NCA
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CC
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TIP
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LGA
Lebenthal Global Advisors Hauppauge, New York $741M AUM 22.36% 1-Year Est. Return
SIC
SFE Investment Counsel Los Angeles, California $742M AUM 39.38% 1-Year Est. Return
CPC
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TWM
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Triasima Portfolio Management's Q4 2025 Portfolio in Review

As of Q4 2025, Triasima Portfolio Management held 171 positions worth $668M, up 0.77% from $663M the previous quarter. Its ten largest holdings account for 32% of the portfolio.

Triasima Portfolio Management withdrew a net $42.6M in Q4 2025, closing 28 positions and reducing 50 holdings. Its most notable exit was RB Global, an estimated $12.1M position sold in full.

By sector, the portfolio is most concentrated in Financials at 29% of assets, up from 27% a quarter earlier, followed by Technology and Materials.

Against the trend, Triasima Portfolio Management opened a new position in Eli Lilly worth $6.42M.

  • Triasima Portfolio Management's largest Q4 2025 buy was Eli Lilly: 5,970 shares worth $6.42M.
  • Triasima Portfolio Management added most to Cameco in Q4 2025, an estimated $6.04M increase.
  • Triasima Portfolio Management's biggest Q4 2025 reduction was Celestica, cutting an estimated $10.8M.
  • Triasima Portfolio Management fully exited RB Global in Q4 2025, selling an estimated $12.1M.
  • Triasima Portfolio Management's ten largest holdings make up 32% of its $668M portfolio in Q4 2025.
  • Triasima Portfolio Management opened 22 new positions and closed 28 in Q4 2025.
  • Triasima Portfolio Management's portfolio value rose 0.77% quarter-over-quarter to $668M.

Based on Triasima Portfolio Management's 13F filing for Q4 2025, filed 2 Feb 2026.