Waratah Capital Advisors Ltd.

CIK

1539919

Location

TORONTO, A6

Portfolio Value

Mid $1,791,847,538

Diversification

Diversified

Filing Date

Global Rank

#1,057 / 8,232 ▼ 170

Top Industry

Gold 19.4%

3Y Alpha vs SPY

-2.5%

Period ended 2 months ago

Filed May 11, 2026 · 34d

25 quarters · since Mar 2020

Clone Performance

Jun 2023–Jun 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+65.4%

SPY

+76.3%

Annualised alpha

-2.5%

Max drawdown

−16.3%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

103 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%

−3.1 pts

HHI

475

Diversified−350

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	14.1%	$253,379,306	23
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%	$72,516,038	13
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
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
FIX	Comfort Systems USA Inc	−33,432	10,729	$14,795,183
TGT	Target Corp	−30,408	20,119	$2,438,422
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

103 positions · $1,791,847,538 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 103 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	NEW	412,800	NEW	$268,460,352	NEW	14.98%
QQQ	Invesco Qqq Trust, Series 1	Reduced	298,100	-163,100	$172,057,358	−39.3%	9.60%
GLD	Spdr Gold Trust	Reduced	299,000	-1,409,200	$128,656,710	−81.0%	7.18%
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%	3.42%
KGC	Kinross Gold Corp Basic Materials	Reduced	1,491,904	-622,808	$45,532,910	−23.5%	2.54%
CGAU	Centerra Gold Inc. 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. 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	1.86%
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. Energy	NEW	1,132,139	NEW	$30,035,647	NEW	1.68%
AEM	Agnico Eagle Mines Ltd Basic Materials	Reduced	146,113	-20,739	$29,658,016	+4.8%	1.66%
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 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. 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. 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 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	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 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%