Waratah Capital Advisors Ltd.

CIK

1539919

Location

TORONTO, A6

Portfolio Value

Mid $1,793,309,929

Diversification

Diversified

Filing Date

Global Rank

#1,280 / 8,622 ▼ 264 · as of Mar 2026

Top Industry

Gold 19.4%

3Y Alpha vs SPY

-2.2%

Period ended 4 months ago

Filed May 11, 2026 · 3mo

25 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of buying every stock this filer reported holding, rebalancing on each filing and indexed to the same start. Option positions cannot be bought this way and are left out.

Not a measure of this manager's performance. Most of Waratah Capital Advisors Ltd.'s reported book is option positions, which a stock-only clone cannot replicate. The figures below are the return of the 52% that is ordinary stock — as little as 33% in one quarter — so a manager whose options thesis lost money can still show a large gain here.

Cloned portfolio

+58.4%

SPY

+67.9%

Annualised alpha

-2.3%

Max drawdown

−16.5%

Estimate. 13F holdings are quarter-lagged, so the clone rebalances about 45 days after each period end — when the filing becomes public — and it excludes option and short positions. It tracks 52% of reported value on average across 13 quarters. Past performance does not predict future results.

Portfolio Concentration

105 tracked positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

15.0%

−10.2 pts

Top 5

39.9%

−4.2 pts

Top 10

50.6%

−3.0 pts

HHI

475

Diversified−349

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Unclassified	32.7%	$586,538,961	6
Basic Materials	18.3%	$328,053,934	15
Industrials	14.2%	$255,076,127	24
Technology	8.6%	$153,712,195	14
Consumer Cyclical	8.3%	$149,203,713	11
Energy	7.6%	$135,618,161	9
Financial Services	4.0%	$72,281,608	14
Utilities	2.6%	$47,014,613	4
Real Estate	2.3%	$40,949,548	3
Communication Services	1.2%	$22,019,210	3
Consumer Defensive	0.1%	$2,438,422	1
Healthcare	0.0%	$403,437	1

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
DSGX	Descartes Systems Group Inc	+1,078,223	1,189,482	$85,119,331
CAE	Cae Inc	+476,486	889,234	$23,164,545
AGI	Alamos Gold Inc	+437,724	1,377,338	$61,195,127
IBIT	iShares Bitcoin Trust ETF	+214,900	300,000	$11,526,000
NVT	nVent Electric plc	+214,588	217,888	$25,771,792
LULU	lululemon athletica inc.	+169,827	232,093	$35,533,438
NXE	NexGen Energy Ltd.	+136,987	1,742,223	$20,209,786
SPXC	SPX Technologies, Inc.	+119,982	155,631	$31,116,862
CNI	Canadian National Railway Co	+84,893	269,267	$27,672,569
WELL	Welltower Inc.	+75,213	152,943	$30,238,360
SN	SharkNinja, Inc.	+58,233	214,249	$22,688,969
RRX	Regal Rexnord Corp	+52,579	55,144	$10,326,265
NVDA	Nvidia Corp	+42,698	45,000	$7,848,000
PLD	Prologis, Inc.	+33,506	46,693	$6,171,880
AME	Ametek Inc/	+30,425	77,196	$16,547,734
FNV	FRANCO NEVADA Corp	+30,256	86,029	$21,253,464
EQT	EQT Corp	+30,000	130,000	$8,273,200
GLW	Corning Inc /Ny	+27,751	48,713	$6,623,506
XPO	XPO, Inc.	+25,613	28,046	$5,456,349
MLM	Martin Marietta Materials Inc	+21,346	43,620	$25,678,221
TDY	Teledyne Technologies Inc	+13,103	33,574	$20,312,605
CR	Crane Co	+11,657	161,298	$27,581,958
TER	Teradyne, Inc	+7,205	10,340	$3,065,396
SXT	Sensient Technologies Corp	+4,421	150,732	$13,029,274
FSV	FirstService Corp	+994	32,671	$4,539,308
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
CGAU	Centerra Gold Inc.	−1,449,419	2,254,049	$40,099,531
GLD	Spdr Gold Trust	−1,409,200	299,000	$128,656,710
IAG	Iamgold Corp	−663,333	1,939,936	$36,509,595
USAS	Americas Gold & Silver Corp	−660,772	227,943	$1,189,862
KGC	Kinross Gold Corp	−622,808	1,491,904	$45,532,910
FND	Floor & Decor Holdings, Inc.	−428,253	9,565	$485,902
SKE	Skeena Resources Ltd	−399,319	1,127,480	$33,508,705
GIL	Gildan Activewear Inc.	−262,952	124,157	$6,909,337
RY	Royal Bank Of Canada	−227,864	83,144	$13,451,036
ROP	Roper Technologies Inc	−163,240	8,600	$3,043,196
QQQ	Invesco Qqq Trust, Series 1	−163,100	298,100	$172,057,358
MTN	Vail Resorts Inc	−157,912	56,710	$7,277,027
TVA	Texas Ventures Acquisition III Corp	−151,803	151,804	$1,577,243
DOO	BRP Inc.	−141,663	191,290	$13,736,534
TD	Toronto Dominion Bank	−86,142	212,432	$19,822,029
CP	Canadian Pacific Kansas City Ltd/Cn	−82,792	187,807	$14,772,898
AEXA	American Exceptionalism Acquisition Corp. A	−80,062	80,062	$867,071
IEX	Idex Corp /De/	−79,864	7,244	$1,373,100
WCC	Wesco International Inc	−75,398	1,642	$449,284
UAL	United Airlines Holdings, Inc.	−72,625	45,000	$4,143,150
CEPF	Cantor Equity Partners IV, Inc.	−71,721	71,721	$730,836
DAAQ	Digital Asset Acquisition Corp.	−71,440	71,441	$731,555
BEAG	Bold Eagle Acquisition Corp.	−70,270	70,271	$741,710
CEPT	Cantor Equity Partners II, Inc.	−61,234	246,240	$2,681,553
BGSI	Boyd Group Services Inc.	−59,981	231,905	$29,651,373
No positions match the current search.

New Positions

Positions the filer opened this quarter

25 positions

Ticker	Company	Shares	Value
SPY	Spdr S&P 500 ETF Trust	412,800	$268,460,352
SU	Suncor Energy Inc	503,049	$33,256,569
CVE	Cenovus Energy Inc.	1,132,139	$30,035,647
LNG	Cheniere Energy, Inc.	69,319	$19,669,959
EA	Electronic Arts Inc.	90,000	$18,348,300
NI	Nisource Inc.	376,424	$17,563,943
BEP	Brookfield Renewable Partners L.P.	488,000	$15,928,320
MOD	Modine Manufacturing Co	49,422	$10,710,241
AMAT	Applied Materials Inc /De	30,664	$10,480,648
AS	Amer Sports, Inc.	312,511	$10,287,862
COP	Conocophillips	75,000	$9,900,000
ETR	Entergy Corp /De/	80,708	$9,068,350
WRN	Western Copper & Gold Corp	3,130,614	$7,920,453
BC	Brunswick Corp	97,877	$7,121,530
AAPL	Apple Inc.	27,664	$7,020,846
KKR	KKR & Co. Inc.	72,000	$6,660,000
ATS	ATS Corp /ATS	223,983	$6,316,320
OVV	Ovintiv Inc.	100,000	$5,936,000
SLB	Slb Limited/Nv	100,000	$5,139,000
CMG	Chipotle Mexican Grill Inc	150,000	$4,801,500
TAC	Transalta Corp	340,000	$4,454,000
BNO	United States Brent Oil Fund, LP	79,322	$4,125,537
EME	EMCOR Group, Inc.	5,224	$3,856,931
META	Meta Platforms, Inc.	5,678	$3,248,554
PR	Permian Resources Corp	150,000	$3,198,000
No positions match the current search.

Sold Out

Positions the filer fully exited

25 positions

Ticker	Company	Shares	Value
SLV	iShares Silver Trust	1,168,200	$75,255,444
B	Barrick Mining Corp	1,666,653	$72,582,738
USO	United States Oil Fund, LP	510,000	$35,271,600
EXK	Endeavour Silver Corp	3,737,025	$35,128,035
VZLA	Vizsla Silver Corp.	6,343,121	$34,696,871
AMZN	Amazon Com Inc	144,186	$33,281,012
DHR	Danaher Corp /De/	141,082	$32,296,491
CM	Canadian Imperial Bank Of Commerce /Can/	350,809	$31,786,803
EXE	EXPAND ENERGY Corp	237,000	$26,155,320
APH	Amphenol Corp /De/	183,546	$24,804,406
ELS	Equity Lifestyle Properties Inc	336,639	$20,403,689
AR	ANTERO RESOURCES Corp	590,000	$20,331,400
BROS	Dutch Bros Inc.	262,741	$16,085,004
ETHA	iShares Ethereum Trust ETF	700,000	$15,701,000
BAC	Bank Of America Corp /De/	271,035	$14,906,925
CCJ	Cameco Corp	150,000	$13,723,500
CNQ	CANADIAN NATURAL RESOURCES Ltd	383,028	$12,965,497
GOOGL	Alphabet Inc.	40,000	$12,520,000
MGA	Magna International Inc	220,000	$11,726,000
MKC	Mccormick & Co Inc	166,200	$11,319,882
FANG	Diamondback Energy, Inc.	70,000	$10,523,100
TFII	TFI International Inc.	100,600	$10,397,010
GNRC	Generac Holdings Inc.	75,000	$10,227,750
CHRW	C. H. Robinson Worldwide, Inc.	61,767	$9,929,662
POOL	Pool Corp	42,500	$9,721,875
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

105 tracked positions · $1,793,309,929 total · as of Mar 31, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 105 positions by value · page 1 of 3

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
SPY	Spdr S&P 500 ETF Trust PUT CALL	NEW	412,800	NEW	$268,460,352	NEW	14.97%
QQQ	Invesco Qqq Trust, Series 1 PUT	Reduced	298,100	-163,100	$172,057,358	−39.3%	9.59%
GLD	Spdr Gold Trust PUT CALL	Reduced	299,000	-1,409,200	$128,656,710	−81.0%	7.17%
DSGX	Descartes Systems Group Inc Technology	Added	1,189,482	+1,078,223	$85,119,331	+772.8%	4.75%
AGI	Alamos Gold Inc Basic Materials	Added	1,377,338	+437,724	$61,195,127	+68.8%	3.41%
KGC	Kinross Gold Corp CALL + SHARES Basic Materials	Reduced	1,491,904	-622,808	$45,532,910	−23.5%	2.54%
CGAU	Centerra Gold Inc. CALL + SHARES Basic Materials	Reduced	2,254,049	-1,449,419	$40,099,531	−24.7%	2.24%
IAG	Iamgold Corp Basic Materials	Reduced	1,939,936	-663,333	$36,509,595	−15.0%	2.04%
LULU	lululemon athletica inc. CALL + SHARES Consumer Cyclical	Added	232,093	+169,827	$35,533,438	+174.6%	1.98%
SKE	Skeena Resources Ltd Basic Materials	Reduced	1,127,480	-399,319	$33,508,705	−7.5%	1.87%
SU	Suncor Energy Inc Energy	NEW	503,049	NEW	$33,256,569	NEW	1.85%
SPXC	SPX Technologies, Inc. Industrials	Added	155,631	+119,982	$31,116,862	+336.3%	1.74%
WELL	Welltower Inc. Real Estate	Added	152,943	+75,213	$30,238,360	+109.6%	1.69%
CVE	Cenovus Energy Inc. CALL + SHARES Energy	NEW	1,132,139	NEW	$30,035,647	NEW	1.67%
AEM	Agnico Eagle Mines Ltd CALL + SHARES Basic Materials	Reduced	146,113	-20,739	$29,658,016	+4.8%	1.65%
BGSI	Boyd Group Services Inc. Consumer Cyclical	Reduced	231,905	-59,981	$29,651,373	−36.2%	1.65%
CNI	Canadian National Railway Co Industrials	Added	269,267	+84,893	$27,672,569	+51.8%	1.54%
CR	Crane Co Industrials	Added	161,298	+11,657	$27,581,958	−0.1%	1.54%
NVT	nVent Electric plc Industrials	Added	217,888	+214,588	$25,771,792	+7558.8%	1.44%
MLM	Martin Marietta Materials Inc Basic Materials	Added	43,620	+21,346	$25,678,221	+85.1%	1.43%
CAE	Cae Inc Industrials	Added	889,234	+476,486	$23,164,545	+84.5%	1.29%
SN	SharkNinja, Inc. Consumer Cyclical	Added	214,249	+58,233	$22,688,969	+30.0%	1.27%
FNV	FRANCO NEVADA Corp CALL + SHARES Basic Materials	Added	86,029	+30,256	$21,253,464	+83.8%	1.19%
TDY	Teledyne Technologies Inc Technology	Added	33,574	+13,103	$20,312,605	+94.3%	1.13%
NXE	NexGen Energy Ltd. CALL + SHARES Energy	Added	1,742,223	+136,987	$20,209,786	+36.8%	1.13%
TD	Toronto Dominion Bank Financial Services	Reduced	212,432	-86,142	$19,822,029	−29.5%	1.11%
LNG	Cheniere Energy, Inc. Energy	NEW	69,319	NEW	$19,669,959	NEW	1.10%
EA	Electronic Arts Inc. PUT Communication Services	NEW	90,000	NEW	$18,348,300	NEW	1.02%
SII	Sprott Inc. Financial Services	Reduced	127,893	-22,244	$18,275,909	+24.3%	1.02%
NI	Nisource Inc. Utilities	NEW	376,424	NEW	$17,563,943	NEW	0.98%
AME	Ametek Inc/ Industrials	Added	77,196	+30,425	$16,547,734	+72.3%	0.92%
BEP	Brookfield Renewable Partners L.P. Utilities	NEW	488,000	NEW	$15,928,320	NEW	0.89%
FIX	Comfort Systems USA Inc Industrials	Reduced	10,729	-33,432	$14,795,183	−64.1%	0.83%
CP	Canadian Pacific Kansas City Ltd/Cn CALL + SHARES Industrials	Reduced	187,807	-82,792	$14,772,898	−25.9%	0.82%
DOO	BRP Inc. Consumer Cyclical	Reduced	191,290	-141,663	$13,736,534	−41.7%	0.77%
RY	Royal Bank Of Canada Financial Services	Reduced	83,144	-227,864	$13,451,036	−74.6%	0.75%
SXT	Sensient Technologies Corp Basic Materials	Added	150,732	+4,421	$13,029,274	−5.2%	0.73%
IBIT	iShares Bitcoin Trust ETF CALL	Added	300,000	+214,900	$11,526,000	+172.8%	0.64%
MOD	Modine Manufacturing Co Consumer Cyclical	NEW	49,422	NEW	$10,710,241	NEW	0.60%
AMAT	Applied Materials Inc /De Technology	NEW	30,664	NEW	$10,480,648	NEW	0.58%
RRX	Regal Rexnord Corp Industrials	Added	55,144	+52,579	$10,326,265	+2769.0%	0.58%
AS	Amer Sports, Inc. Consumer Cyclical	NEW	312,511	NEW	$10,287,862	NEW	0.57%
PWR	Quanta Services, Inc. Industrials	Reduced	18,349	-6,497	$10,073,967	−3.9%	0.56%
COP	Conocophillips Energy	NEW	75,000	NEW	$9,900,000	NEW	0.55%
ETR	Entergy Corp /De/ Utilities	NEW	80,708	NEW	$9,068,350	NEW	0.51%
CW	Curtiss Wright Corp Industrials	Reduced	13,310	-25,378	$9,065,707	−57.5%	0.51%
EQT	EQT Corp Energy	Added	130,000	+30,000	$8,273,200	+54.4%	0.46%
WRN	Western Copper & Gold Corp Basic Materials	NEW	3,130,614	NEW	$7,920,453	NEW	0.44%
NVDA	Nvidia Corp PUT Technology	Added	45,000	+42,698	$7,848,000	+1728.0%	0.44%
MTN	Vail Resorts Inc Consumer Cyclical	Reduced	56,710	-157,912	$7,277,027	−74.5%	0.41%

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.