Caldwell Investment Management Ltd.

CIK

1904373

Location

TORONTO, A6

Portfolio Value

Small $261,006,608

Diversification

Diversified

Filing Date

Global Rank

#3,674 / 8,623 ▲ 1146 · as of Mar 2026

Top Industry

Capital Markets 26.1%

3Y Alpha vs SPY

+3.3%

Period ended 4 months ago

Filed May 14, 2026 · 3mo

18 quarters · since Dec 2021

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.

Cloned portfolio

+84.7%

SPY

+65.3%

Annualised alpha

+4.5%

Max drawdown

−20.2%

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 100% of reported value on average across 13 quarters. Past performance does not predict future results.

Portfolio Concentration

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

Top Position

15.8%

−4.5 pts

Top 5

52.0%

−17.4 pts

Top 10

70.7%

−11.8 pts

HHI

707

Diversified−472

Portfolio Trend

18 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Financial Services	66.8%	$174,332,186	12
Energy	9.6%	$24,952,838	6
Industrials	8.3%	$21,644,516	14
Technology	5.5%	$14,260,762	12
Basic Materials	4.9%	$12,707,816	2
Healthcare	2.7%	$7,097,649	5
Consumer Cyclical	1.9%	$4,884,601	3
Communication Services	0.3%	$718,900	1
Unclassified	0.2%	$407,340	1

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

2 positions

Ticker	Company	Δ Shares	Shares	Value
CVE	Cenovus Energy Inc.	+180,000	290,800	$7,714,924
V	Visa Inc.	+200	5,100	$1,541,424
No positions match the current search.

Trimmed

Positions the filer reduced

4 positions

Ticker	Company	Δ Shares	Shares	Value
MIAX	Miami International Holdings, Inc.	−75,000	663,810	$25,835,485
IBKR	Interactive Brokers Group, Inc.	−13,200	13,900	$932,273
AEM	Agnico Eagle Mines Ltd	−10,200	37,000	$7,510,260
JPM	Jpmorgan Chase & Co	−8,600	4,100	$1,206,056
No positions match the current search.

New Positions

Positions the filer opened this quarter

25 positions

Ticker	Company	Shares	Value
MS	Morgan Stanley	250,000	$41,142,500
BAC	Bank Of America Corp /De/	350,000	$17,062,500
C	Citigroup Inc	75,000	$8,505,750
SII	Sprott Inc.	57,300	$8,188,170
KGC	Kinross Gold Corp	170,300	$5,197,556
LHX	L3harris Technologies, Inc. /De/	7,600	$2,623,140
RY	Royal Bank Of Canada	15,600	$2,523,768
FIX	Comfort Systems USA Inc	1,600	$2,206,384
PFE	Pfizer Inc	75,000	$2,106,000
OVV	Ovintiv Inc.	34,900	$2,071,664
MSI	Motorola Solutions, Inc.	4,200	$1,822,674
TJX	Tjx Companies Inc /De/	11,100	$1,772,670
KLAC	Kla Corp	1,200	$1,766,892
CAE	Cae Inc	66,100	$1,721,905
MSFT	Microsoft Corp	4,500	$1,665,765
CW	Curtiss Wright Corp	2,400	$1,634,688
TMO	Thermo Fisher Scientific Inc.	3,300	$1,622,049
STN	Stantec Inc	17,800	$1,537,920
HWM	Howmet Aerospace Inc.	6,400	$1,474,944
ROL	Rollins Inc	22,000	$1,175,020
LRCX	Lam Research Corp	5,400	$1,153,764
CNI	Canadian National Railway Co	10,800	$1,109,916
AROC	Archrock, Inc.	31,500	$1,096,200
WWD	Woodward, Inc.	3,000	$1,073,760
WMB	Williams Companies, Inc.	14,000	$1,018,920
No positions match the current search.

Sold Out

Positions the filer fully exited

8 positions

Ticker	Company	Shares	Value
MFC	Manulife Financial Corp	105,000	$3,809,400
BABA	Alibaba Group Holding Ltd	20,000	$2,931,600
TFII	TFI International Inc.	14,200	$1,467,570
AVGO	Broadcom Inc.	4,100	$1,419,010
IDCC	InterDigital, Inc.	3,900	$1,241,682
TKO	TKO Group Holdings, Inc.	5,000	$1,045,000
PWR	Quanta Services, Inc.	2,200	$928,532
META	Meta Platforms, Inc.	1,050	$693,094
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

56 tracked positions · $261,006,608 total · filing declares 57 positions · $255,168,568 · as of Mar 31, 2026

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

Showing 1–50 of 56 positions by value · page 1 of 2

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
MS	Morgan Stanley Financial Services	NEW	250,000	NEW	$41,142,500	NEW	15.76%
CBOE	Cboe Global Markets, Inc. Financial Services	Held	118,000	0	$33,166,260	+12.0%	12.71%
MIAX	Miami International Holdings, Inc. Financial Services	Reduced	663,810	-75,000	$25,835,485	−21.2%	9.90%
KKR	KKR & Co. Inc. Financial Services	Held	200,000	0	$18,500,000	−27.4%	7.09%
BAC	Bank Of America Corp /De/ Financial Services	NEW	350,000	NEW	$17,062,500	NEW	6.54%
ICE	Intercontinental Exchange, Inc. Financial Services	Held	100,000	0	$15,728,000	−2.9%	6.03%
EFXT	Enerflex Ltd. Energy	Held	411,000	0	$8,598,120	+35.6%	3.29%
C	Citigroup Inc Financial Services	NEW	75,000	NEW	$8,505,750	NEW	3.26%
SII	Sprott Inc. Financial Services	NEW	57,300	NEW	$8,188,170	NEW	3.14%
CVE	Cenovus Energy Inc. Energy	Added	290,800	+180,000	$7,714,924	+311.5%	2.96%
AEM	Agnico Eagle Mines Ltd Basic Materials	Reduced	37,000	-10,200	$7,510,260	−6.1%	2.88%
KGC	Kinross Gold Corp Basic Materials	NEW	170,300	NEW	$5,197,556	NEW	1.99%
CCJ	Cameco Corp Energy	Held	41,000	0	$4,453,010	+18.7%	1.71%
ELVA	Electrovaya Inc. Industrials	Held	398,000	0	$3,112,360	−1.0%	1.19%
LHX	L3harris Technologies, Inc. /De/ Industrials	NEW	7,600	NEW	$2,623,140	NEW	1.01%
RY	Royal Bank Of Canada Financial Services	NEW	15,600	NEW	$2,523,768	NEW	0.97%
CLS	Celestica Inc Technology	Held	8,900	0	$2,506,952	−4.7%	0.96%
FIX	Comfort Systems USA Inc Industrials	NEW	1,600	NEW	$2,206,384	NEW	0.85%
PFE	Pfizer Inc Healthcare	NEW	75,000	NEW	$2,106,000	NEW	0.81%
OVV	Ovintiv Inc. Energy	NEW	34,900	NEW	$2,071,664	NEW	0.79%
AMZN	Amazon Com Inc Consumer Cyclical	Held	9,300	0	$1,936,911	−9.8%	0.74%
MCK	Mckesson Corp Healthcare	Held	2,200	0	$1,903,792	+5.5%	0.73%
MSI	Motorola Solutions, Inc. Technology	NEW	4,200	NEW	$1,822,674	NEW	0.70%
TJX	Tjx Companies Inc /De/ Consumer Cyclical	NEW	11,100	NEW	$1,772,670	NEW	0.68%
KLAC	Kla Corp Technology	NEW	1,200	NEW	$1,766,892	NEW	0.68%
CAE	Cae Inc Industrials	NEW	66,100	NEW	$1,721,905	NEW	0.66%
ATS	ATS Corp /ATS Industrials	Held	60,800	0	$1,714,560	+2.4%	0.66%
MSFT	Microsoft Corp Technology	NEW	4,500	NEW	$1,665,765	NEW	0.64%
CW	Curtiss Wright Corp Industrials	NEW	2,400	NEW	$1,634,688	NEW	0.63%
TMO	Thermo Fisher Scientific Inc. Healthcare	NEW	3,300	NEW	$1,622,049	NEW	0.62%
V	Visa Inc. Financial Services	Added	5,100	+200	$1,541,424	−10.3%	0.59%
STN	Stantec Inc Industrials	NEW	17,800	NEW	$1,537,920	NEW	0.59%
HWM	Howmet Aerospace Inc. Industrials	NEW	6,400	NEW	$1,474,944	NEW	0.57%
J	Jacobs Solutions Inc. Industrials	Held	11,000	0	$1,400,080	−3.9%	0.54%
JPM	Jpmorgan Chase & Co Financial Services	Reduced	4,100	-8,600	$1,206,056	−70.5%	0.46%
ROL	Rollins Inc Consumer Cyclical	NEW	22,000	NEW	$1,175,020	NEW	0.45%
LRCX	Lam Research Corp Technology	NEW	5,400	NEW	$1,153,764	NEW	0.44%
CNI	Canadian National Railway Co Industrials	NEW	10,800	NEW	$1,109,916	NEW	0.43%
AROC	Archrock, Inc. Energy	NEW	31,500	NEW	$1,096,200	NEW	0.42%
WWD	Woodward, Inc. Industrials	NEW	3,000	NEW	$1,073,760	NEW	0.41%
WMB	Williams Companies, Inc. Energy	NEW	14,000	NEW	$1,018,920	NEW	0.39%
GIB	Cgi Inc Technology	Held	12,910	0	$943,721	−20.8%	0.36%
IBKR	Interactive Brokers Group, Inc. Financial Services	Reduced	13,900	-13,200	$932,273	−46.5%	0.36%
VRT	Vertiv Holdings Co Industrials	NEW	3,600	NEW	$902,088	NEW	0.35%
RMD	Resmed Inc Healthcare	NEW	4,000	NEW	$897,920	NEW	0.34%
APH	Amphenol Corp /De/ Technology	NEW	6,800	NEW	$859,180	NEW	0.33%
WCN	Waste Connections, Inc. Industrials	NEW	5,100	NEW	$828,444	NEW	0.32%
NVDA	Nvidia Corp Technology	NEW	4,400	NEW	$767,360	NEW	0.29%
CACI	Caci International Inc /De/ Technology	NEW	1,400	NEW	$761,418	NEW	0.29%
NOW	ServiceNow, Inc. Technology	Held	7,000	0	$731,850	−31.8%	0.28%

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.