Addenda Capital Inc.

CIK

1569411

Location

MONTREAL, A8

Portfolio Value

Small $500,202,029

Diversification

Diversified

Filing Date

Global Rank

#796 / 8,232 ▲ 85

Top Industry

Banks - Diversified 16.7%

3Y Alpha vs SPY

-4.4%

Period ended 2 months ago

Filed Apr 15, 2026 · 2mo

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

+57.8%

SPY

+76.3%

Annualised alpha

-4.4%

Max drawdown

−14.7%

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

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

Top Position

4.6%

+0.0 pts

Top 5

19.8%

−1.2 pts

Top 10

34.8%

−0.7 pts

HHI

196

Diversified−5

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Financial Services	25.1%	$698,018,868	17
Basic Materials	18.0%	$500,202,029	20
Technology	15.2%	$423,042,313	17
Energy	13.5%	$375,156,069	8
Industrials	10.5%	$291,513,377	18
Consumer Cyclical	6.8%	$190,040,464	15
Healthcare	3.6%	$101,369,846	10
Consumer Defensive	2.6%	$72,916,374	10
Utilities	2.2%	$59,996,408	4
Communication Services	1.8%	$49,912,306	7
Real Estate	0.6%	$17,774,524	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
KGC	Kinross Gold Corp	+1,332,850	1,367,420	$41,733,658
HBM	Hudbay Minerals Inc.	+603,128	617,158	$12,898,602
WPM	Wheaton Precious Metals Corp.	+46,865	617,307	$80,873,390
RY	Royal Bank Of Canada	+42,956	745,760	$120,649,052
SHOP	Shopify Inc.	+33,755	717,191	$85,073,196
STE	STERIS plc	+29,447	48,003	$10,614,903
TSM	Taiwan Semiconductor Manufacturing Co Ltd	+20,217	38,230	$12,919,828
NVDA	Nvidia Corp	+19,408	265,591	$46,319,070
FNV	FRANCO NEVADA Corp	+18,178	221,821	$54,800,878
EQX	Equinox Gold Corp.	+13,140	32,360	$467,925
CCJ	Cameco Corp	+12,720	550,763	$59,818,369
AAPL	Apple Inc.	+10,814	227,617	$57,766,918
BN	BROOKFIELD Corp /ON/	+10,530	2,168,691	$87,766,924
TMO	Thermo Fisher Scientific Inc.	+9,971	39,454	$19,392,824
BCE	Bce Inc	+7,861	471,327	$11,896,293
SHW	Sherwin Williams Co	+7,506	33,760	$10,821,768
TRU	TransUnion	+7,421	131,113	$9,071,708
TU	Telus Corp	+7,000	19,400	$248,902
CNI	Canadian National Railway Co	+6,003	460,005	$47,274,713
SCHW	Schwab Charles Corp	+5,144	204,698	$19,237,518
MDLZ	Mondelez International, Inc.	+4,565	170,356	$9,819,319
TJX	Tjx Companies Inc /De/	+4,303	160,221	$25,587,293
AMZN	Amazon Com Inc	+4,281	164,656	$34,292,905
CAE	Cae Inc	+4,064	366,816	$9,555,556
NKE	NIKE, Inc.	+3,947	245,255	$12,954,369
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
AGI	Alamos Gold Inc	−239,590	1,987,059	$88,285,031
GIB	Cgi Inc	−197,987	100,959	$7,380,102
CM	Canadian Imperial Bank Of Commerce /Can/	−111,190	315,186	$29,863,873
CNQ	Canadian Natural Resources Ltd	−100,770	1,812,408	$88,318,641
PEP	Pepsico Inc	−60,195	43,939	$6,823,287
BMO	Bank Of Montreal /Can/	−51,265	674,068	$91,228,363
EMA	Emera Inc	−40,410	421,545	$21,865,539
AEM	Agnico Eagle Mines Ltd	−38,410	628,844	$127,642,755
BAM	Brookfield Asset Management Ltd.	−27,900	251,127	$11,162,595
BIPH	Brookfield Infrastructure Partners L.P.	−23,897	771,858	$27,879,510
CP	Canadian Pacific Kansas City Ltd/Cn	−19,170	699,650	$55,034,469
SU	Suncor Energy Inc	−13,800	747,066	$49,388,533
CVE	Cenovus Energy Inc.	−13,460	642,604	$17,048,284
PBA	Pembina Pipeline Corp	−13,420	605,547	$27,104,283
TRP	Tc Energy Corp	−10,091	908,833	$56,892,945
QSR	Restaurant Brands International Inc.	−7,986	310,216	$22,924,962
ENB	Enbridge Inc	−7,108	1,406,938	$76,171,623
MFC	Manulife Financial Corp	−6,190	764,467	$26,328,243
APH	Amphenol Corp /De/	−4,942	193,786	$24,484,861
TFII	TFI International Inc.	−4,483	135,340	$14,701,984
ADBE	Adobe Inc.	−4,158	24,122	$5,863,575
CIGI	Colliers International Group Inc.	−3,352	166,288	$17,774,524
FFIV	F5, Inc.	−2,956	72,999	$21,120,800
TD	Toronto Dominion Bank	−2,688	1,300,447	$121,344,709
WCN	Waste Connections, Inc.	−1,847	218,580	$35,506,135
No positions match the current search.

New Positions

Positions the filer opened this quarter

8 positions

Ticker	Company	Shares	Value
SUNB	Sunbelt Rentals Holdings, Inc.	195,858	$12,748,397
CLS	Celestica Inc	40,090	$11,292,551
BRK-B	Berkshire Hathaway Inc	16,264	$7,793,708
PANW	Palo Alto Networks Inc	27,602	$4,425,152
B	Barrick Mining Corp	23,590	$962,236
ORLA	Orla Mining Ltd.	28,440	$458,737
SKE	Skeena Resources Ltd	11,840	$351,884
CCEP	COCA-COLA EUROPACIFIC PARTNERS plc	2,543	$230,573
No positions match the current search.

Sold Out

Positions the filer fully exited

4 positions

Ticker	Company	Shares	Value
IQV	Iqvia Holdings Inc.	60,279	$13,587,489
GRTUF	Granite Real Estate Investment Trust	75,529	$4,470,561
MKC	Mccormick & Co Inc	46,299	$3,153,424
SPY	Spdr S&P 500 ETF Trust	2,530	$1,725,257
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

20 positions · $500,202,029 total · Basic Materials only · as of Mar 31, 2026

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

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
AEM	Agnico Eagle Mines Ltd Basic Materials	Reduced	628,844	-38,410	$127,642,755	+12.8%	25.52%
AGI	Alamos Gold Inc Basic Materials	Reduced	1,987,059	-239,590	$88,285,031	+2.8%	17.65%
WPM	Wheaton Precious Metals Corp. Basic Materials	Added	617,307	+46,865	$80,873,390	+20.6%	16.17%
FNV	FRANCO NEVADA Corp Basic Materials	Added	221,821	+18,178	$54,800,878	+29.8%	10.96%
KGC	Kinross Gold Corp Basic Materials	Added	1,367,420	+1,332,850	$41,733,658	+4187.0%	8.34%
LIN	Linde PLC Basic Materials	Added	38,263	+953	$18,969,264	+19.2%	3.79%
HBM	Hudbay Minerals Inc. Basic Materials	Added	617,158	+603,128	$12,898,602	+4531.5%	2.58%
DOW	Dow Inc. Basic Materials	Held	269,800	0	$11,237,170	+78.1%	2.25%
MEOH	Methanex Corp Basic Materials	Held	183,000	0	$10,895,820	+49.9%	2.18%
SHW	Sherwin Williams Co Basic Materials	Added	33,760	+7,506	$10,821,768	+27.2%	2.16%
BHP	BHP Group Ltd Basic Materials	Held	129,200	0	$9,398,008	+20.5%	1.88%
TECK	Teck Resources Ltd Basic Materials	Reduced	168,202	-900	$8,704,453	+7.5%	1.74%
RIO	Rio Tinto PLC Basic Materials	Held	91,600	0	$8,545,364	+16.6%	1.71%
NTR	Nutrien Ltd. Basic Materials	Held	105,900	0	$7,991,214	+22.3%	1.60%
DD	DuPont de Nemours, Inc. Basic Materials	Held	81,200	0	$3,718,960	+13.9%	0.74%
OR	OR Royalties Inc. Basic Materials	Added	38,004	+2,560	$1,444,912	+15.2%	0.29%
B	Barrick Mining Corp Basic Materials	NEW	23,590	NEW	$962,236	NEW	0.19%
EQX	Equinox Gold Corp. Basic Materials	Added	32,360	+13,140	$467,925	+73.4%	0.09%
ORLA	Orla Mining Ltd. Basic Materials	NEW	28,440	NEW	$458,737	NEW	0.09%
SKE	Skeena Resources Ltd Basic Materials	NEW	11,840	NEW	$351,884	NEW	0.07%