Galibier Capital Management Ltd.

CIK

1765768

Location

TORONTO, A6

Portfolio Value

Small $300,116,788

Diversification

Diversified

Reports for

Guardian Partners Inc.

Filing Date

Global Rank

#4,750 / 8,113 ▼ 498 · as of Sep 2025

Top Industry

Banks - Diversified 17.3%

Period ended 1 year ago

Filed Oct 21, 2025 · 1y

23 quarters · since Mar 2020

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Unknown

Portfolio style

Measured from the filed 13F common-share book for Sep 30, 2025, never from the firm's own description.

Style

Concentrated

The top 10 positions are 71.1% of the book (60%+)

Turnover

Medium turnover

40.6% over the last four quarters (30% to under 100%)

Horizon

Long horizon

Value-weighted holding period 14.9 quarters (12+), a floor since 34.8% of the book was already held when coverage starts

Closest benchmark: every 13F filer's combined book, active share 96.5%; sector active share 53.5% against the combined 13F book's sector weights.

Over time 23 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

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Portfolio Concentration

38 tracked positions · as of Sep 30, 2025 · Δ vs Jun 30, 2025

Top Position

12.7%

+2.6 pts

Top 5

45.3%

+4.4 pts

Top 10

71.1%

+2.3 pts

HHI

648

Diversified+49

Portfolio Trend

23 quarters · across all stocks

Sector Breakdown

As of Sep 30, 2025

Sector	% Portfolio	Value	Positions
Basic Materials	26.3%	$78,912,547	5
Financial Services	24.7%	$74,249,100	7
Energy	16.6%	$49,751,369	5
Industrials	12.5%	$37,441,406	6
Consumer Cyclical	8.0%	$23,928,239	5
Technology	5.4%	$16,272,589	4
Communication Services	4.5%	$13,426,932	2
Healthcare	1.7%	$4,965,004	3
Consumer Defensive	0.4%	$1,169,602	1

Last Quarter's Activity

Export CSV

Sep 30, 2025 vs Jun 30, 2025

Added To

Positions the filer increased

1 positions

Ticker	Company	Δ Shares	Shares	Value	Open
AZO	Autozone Inc	+110	310	$1,329,974
No positions match the current search.

Trimmed

Positions the filer reduced

22 positions

Ticker	Company	Δ Shares	Shares	Value
HBM	Hudbay Minerals Inc.	−458,231	687,008	$10,415,041
TU	Telus Corp	−115,694	786,678	$12,405,912
CCJ	Cameco Corp	−114,062	49,899	$4,184,530
EQX	Equinox Gold Corp.	−110,000	417,019	$4,678,953
GIL	Gildan Activewear Inc.	−100,145	172,773	$9,986,279
MFC	Manulife Financial Corp	−74,751	635,318	$19,790,155
CM	Canadian Imperial Bank Of Commerce	−73,251	212,022	$16,938,437
ENB	Enbridge Inc	−59,420	499,597	$25,209,664
AEM	Agnico Eagle Mines Ltd	−52,413	226,197	$38,127,766
CNQ	CANADIAN NATURAL RESOURCES Ltd	−43,868	633,545	$20,248,098
ATS	ATS Corp	−38,929	447,446	$11,723,085
RY	Royal Bank Of Canada	−35,030	220,458	$32,477,872
NTR	Nutrien Ltd.	−32,424	280,633	$16,475,963
CP	Canadian Pacific Kansas City Ltd	−27,894	240,014	$17,878,642
QSR	Restaurant Brands International Inc.	−20,878	188,137	$12,067,107
GIB	Cgi Inc	−17,086	155,232	$13,835,828
WFG	West Fraser Timber Co., Ltd	−14,746	135,552	$9,214,824
GBX	Greenbrier Companies Inc	−9,000	47,799	$2,206,879
ING	Ing Groep NV	−5,325	44,883	$1,170,548
AAPL	Apple Inc.	−1,612	3,961	$1,008,589
DECK	Deckers Outdoor Corp	−1,000	5,100	$516,987
MSFT	Microsoft Corp	−359	1,449	$750,509
No positions match the current search.

New Positions

Positions the filer opened this quarter

No qualifying positions this quarter.

Sold Out

Positions the filer fully exited

No qualifying positions this quarter.

Portfolio Positions

Compact Export CSV View 13F filing

38 tracked positions · $300,116,788 total · filing declares 38 positions · $300,117,773 · as of Sep 30, 2025

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

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
AEM	Agnico Eagle Mines Ltd Basic Materials	Reduced	226,197	-52,413	$38,127,766	+15.1%	15	$54.15	12.70%
RY	Royal Bank Of Canada Financial Services	Reduced	220,458	-35,030	$32,477,872	−3.4%	12	$118.18	10.82%
ENB	Enbridge Inc Energy	Reduced	499,597	-59,420	$25,209,664	−0.5%	23+	before history	8.40%
CNQ	CANADIAN NATURAL RESOURCES Ltd Energy	Reduced	633,545	-43,868	$20,248,098	−4.8%	13	unpriced	6.75%
MFC	Manulife Financial Corp Financial Services	Reduced	635,318	-74,751	$19,790,155	−12.8%	23+	before history	6.59%
CP	Canadian Pacific Kansas City Ltd Industrials	Reduced	240,014	-27,894	$17,878,642	−15.8%	10	$78.39	5.96%
CM	Canadian Imperial Bank Of Commerce Financial Services	Reduced	212,022	-73,251	$16,938,437	−16.2%	23+	before history	5.64%
NTR	Nutrien Ltd. Basic Materials	Reduced	280,633	-32,424	$16,475,963	−9.6%	23+	before history	5.49%
GIB	Cgi Inc Technology	Reduced	155,232	-17,086	$13,835,828	−23.4%	23+	before history	4.61%
TU	Telus Corp Communication Services	Reduced	786,678	-115,694	$12,405,912	−14.4%	2	$15.51	4.13%
QSR	Restaurant Brands International Inc. Consumer Cyclical	Reduced	188,137	-20,878	$12,067,107	−12.9%	22	$58.47	4.02%
ATS	ATS Corp Industrials	Reduced	447,446	-38,929	$11,723,085	−24.4%	6	$30.31	3.91%
HBM	Hudbay Minerals Inc. Basic Materials	Reduced	687,008	-458,231	$10,415,041	−14.3%	7	$6.61	3.47%
GIL	Gildan Activewear Inc. Consumer Cyclical	Reduced	172,773	-100,145	$9,986,279	−25.7%	2	$45.92	3.33%
WFG	West Fraser Timber Co., Ltd Basic Materials	Reduced	135,552	-14,746	$9,214,824	−16.4%	7	$80.33	3.07%
OSK	Oshkosh Corp Industrials	Held	37,227	0	$4,828,341	+14.2%	23+	before history	1.61%
EQX	Equinox Gold Corp. Basic Materials	Reduced	417,019	-110,000	$4,678,953	+54.4%	3	$6.41	1.56%
CCJ	Cameco Corp Energy	Reduced	49,899	-114,062	$4,184,530	−65.6%	3	$47.07	1.39%
HSIC	Henry Schein Inc Healthcare	Held	41,476	0	$2,752,762	−9.1%	23+	before history	0.92%
GBX	Greenbrier Companies Inc Industrials	Reduced	47,799	-9,000	$2,206,879	−15.6%	6	$51.66	0.74%
BRK-B	Berkshire Hathaway Inc Financial Services	Held	3,155	0	$1,586,144	+3.5%	22	$210.14	0.53%
AZO	Autozone Inc Consumer Cyclical	Added	310	+110	$1,329,974	+79.1%	2	$3,801.59	0.44%
JPM	Jpmorgan Chase & Co Financial Services	Held	3,760	0	$1,186,016	+8.8%	23+	before history	0.40%
TMO	Thermo Fisher Scientific Inc. Healthcare	Held	2,432	0	$1,179,568	+19.6%	23+	before history	0.39%
ING	Ing Groep NV Financial Services	Reduced	44,883	-5,325	$1,170,548	+6.6%	23+	before history	0.39%
CL	Colgate Palmolive Co Consumer Defensive	Held	14,631	0	$1,169,602	−12.1%	12	$88.35	0.39%
CB	Chubb Ltd Financial Services	Held	3,897	0	$1,099,928	−2.6%	6	$256.80	0.37%
ZBH	Zimmer Biomet Holdings, Inc. Healthcare	Held	10,484	0	$1,032,674	+8.0%	5	$108.87	0.34%
GOOGL	Alphabet Inc. Communication Services	Held	4,200	0	$1,021,020	+37.9%	23+	before history	0.34%
AAPL	Apple Inc. Technology	Reduced	3,961	-1,612	$1,008,589	−11.8%	14	$167.29	0.34%
MSFT	Microsoft Corp Technology	Reduced	1,449	-359	$750,509	−16.5%	9	$331.16	0.25%
ASML	Asml Holding NV Technology	Held	700	0	$677,663	+20.8%	3	$727.48	0.23%
WAB	Westinghouse Air Brake Technologies Corp Industrials	Held	2,978	0	$596,999	−4.2%	17	$86.54	0.20%
DECK	Deckers Outdoor Corp Consumer Cyclical	Reduced	5,100	-1,000	$516,987	−17.8%	2	$110.72	0.17%
CNI	Canadian National Railway Co Industrials	Held	2,200	0	$207,460	−9.4%	12	$119.53	0.07%
TRP	Tc Energy Corp Energy	Held	1,816	0	$98,808	+11.5%	7	$39.45	0.03%
NKE	NIKE, Inc. Consumer Cyclical	Held	400	0	$27,892	−1.8%	12	$91.83	0.01%
SOBO	South Bow Corp Energy	Held	363	0	$10,269	+9.2%	4	$24.38	0.00%

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.