2026 Q1 Portfolio Activity
In 2026 Q1, Caldwell Investment Management Ltd. maintained a portfolio of 65 distinct positions. The most significant new addition was MORGAN STANLEY, now representing 15.54% of the total fund value. They heavily accumulated shares in CENOVUS ENERGY INC, increasing the position by 162.5%. Conversely, Caldwell Investment Management Ltd. completely exited their position in MANULIFE FINL CORP.
Position History
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Total Positions
65
Quarter
2026 Q1
Top Holding
MS (15.5%)
Top 10 Concentration
70.6%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
Showing 1-50 of 65
Caldwell Investment Management Ltd. Full Holdings List — 2026 Q1
| Stock | History | Sector / Type | Port % | Prev % | Rank / Prev | Conviction | Change | % Change | Influence | Shares | Mkt Value | Avg Cost | Price Held | 1st Owned | Source | Source Date | Date Reported | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
MS
MORGAN STANLEY
|
Financial Services | 15.54% | — |
#1
Prev: #—
|
9.5 |
—
|
250,000 | — |
NEW
|
250,000 | $39,640,665 |
$163.69
+36.3%
|
2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-14 | ||
|
CBOE
CBOE GLOBAL MKT...
|
Financial Services | 13.07% | 18.45% |
#2
Prev: #2
|
6.5 |
—
|
no change | no change |
P
S
|
118,000 | $33,351,924 | 2021 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
MIAX
MIAMI INTL HLDG...
|
Financial Services | 9.77% | 20.74% |
#3
2
Prev: #1
|
5.4 |
—
|
-75,000 | -10.2% |
P
S
|
663,810 | $24,923,158 | 2025 Q3 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
KKR
KKR & CO INC
|
Financial Services | 7.09% | 15.81% |
#4
1
Prev: #3
|
4.3 |
—
|
no change | no change |
P
S
|
200,000 | $18,093,985 | 2021 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
BAC
BANK AMERICA CO...
|
Financial Services | 6.49% | — |
#5
Prev: #—
|
6.6 |
—
|
350,000 | — |
NEW
|
350,000 | $16,550,610 | 2021 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
ICE
INTERCONTINENTA...
|
Financial Services | 6.16% | 10.02% |
#6
2
Prev: #4
|
3.5 |
—
|
no change | no change |
P
S
|
100,000 | $15,713,092 | 2021 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
EFXT
ENERFLEX LTD
|
Energy | 3.31% | 3.96% |
#7
1
Prev: #6
|
2.3 |
—
|
no change | no change |
P
S
|
411,000 | $8,449,206 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
C
CITIGROUP INC
|
Financial Services | 3.16% | — |
#8
Prev: #—
|
4.8 |
—
|
75,000 | — |
NEW
|
75,000 | $8,055,037 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
CVE
CENOVUS ENERGY ...
|
Energy | 3.03% | 1.16% |
#9
5
Prev: #14
|
4.2 |
—
|
180,000 | 162.5% |
P
S
|
290,800 | $7,740,271 | 2022 Q1 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
SII
SPROTT INC
|
Financial Services | 3.02% | — |
#10
Prev: #—
|
4.7 |
—
|
57,300 | — |
NEW
|
57,300 | $7,698,719 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
AEM
AGNICO EAGLE MI...
|
Basic Materials | 2.78% | 4.98% |
#11
6
Prev: #5
|
1.1 |
—
|
-10,200 | -21.6% |
P
S
|
37,000 | $7,099,739 | 2024 Q2 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
KGC
KINROSS GOLD CO...
|
Basic Materials | 1.91% | — |
#12
Prev: #—
|
4.3 |
—
|
170,300 | — |
NEW
|
170,300 | $4,875,656 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
CCJ
CAMECO CORP
|
Energy | 1.65% | 2.30% |
#13
4
Prev: #9
|
1.7 |
—
|
no change | no change |
P
S
|
41,000 | $4,218,745 | 2023 Q2 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
ELVA
ELECTROVAYA INC
|
Industrials | 1.13% | 1.90% |
#14
4
Prev: #10
|
1.5 |
—
|
no change | no change |
P
S
|
398,000 | $2,872,267 | 2025 Q3 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
LHX
L3HARRIS TECHNO...
|
Industrials | 1.01% | — |
#15
Prev: #—
|
3.9 |
—
|
7,600 | — |
NEW
|
7,600 | $2,586,611 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
RY
ROYAL BK CDA
|
Financial Services | 0.97% | — |
#16
Prev: #—
|
3.9 |
—
|
15,600 | — |
NEW
|
15,600 | $2,464,567 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
CLS
CELESTICA INC
|
Technology | 0.90% | 1.64% |
#17
5
Prev: #12
|
1.4 |
—
|
no change | no change |
P
S
|
8,900 | $2,292,608 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
OVV
OVINTIV INC
|
Energy | 0.83% | — |
#18
Prev: #—
|
3.8 |
—
|
34,900 | — |
NEW
|
34,900 | $2,119,260 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
PFE
PFIZER INC
|
Healthcare | 0.82% | — |
#19
Prev: #—
|
3.8 |
—
|
75,000 | — |
NEW
|
75,000 | $2,085,284 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
FIX
COMFORT SYS USA...
|
Industrials | 0.80% | — |
#20
Prev: #—
|
3.8 |
—
|
1,600 | — |
NEW
|
1,600 | $2,039,566 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
MCK
MCKESSON CORP
|
Healthcare | 0.74% | 1.12% |
#21
6
Prev: #15
|
1.3 |
—
|
no change | no change |
P
S
|
2,200 | $1,894,720 | 2022 Q3 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
AMZN
AMAZON COM INC
|
Consumer Cyclical | 0.73% | 1.33% |
#22
9
Prev: #13
|
1.3 |
—
|
no change | no change |
P
S
|
9,300 | $1,871,108 | 2022 Q2 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
MSI
MOTOROLA SOLUTI...
|
Technology | 0.70% | — |
#23
Prev: #—
|
3.8 |
—
|
4,200 | — |
NEW
|
4,200 | $1,794,657 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
TJX
TJX COS INC NEW
|
Consumer Cyclical | 0.68% | — |
#24
Prev: #—
|
3.8 |
—
|
11,100 | — |
NEW
|
11,100 | $1,731,373 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
CAE
CAE INC
|
Industrials | 0.66% | — |
#25
Prev: #—
|
3.8 |
—
|
66,100 | — |
NEW
|
66,100 | $1,687,175 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
KLAC
KLA CORP
|
Technology | 0.65% | — |
#26
Prev: #—
|
3.8 |
—
|
1,200 | — |
NEW
|
1,200 | $1,661,114 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
ATS
ATS CORPORATION
|
Industrials | 0.65% | 1.04% |
#27
10
Prev: #17
|
1.3 |
—
|
no change | no change |
P
S
|
60,800 | $1,648,479 | 2023 Q2 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
MSFT
MICROSOFT CORP
|
Technology | 0.63% | — |
#28
Prev: #—
|
3.8 |
—
|
4,500 | — |
NEW
|
4,500 | $1,617,285 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
TMO
THERMO FISHER S...
|
Healthcare | 0.62% | — |
#29
Prev: #—
|
3.7 |
—
|
3,300 | — |
NEW
|
3,300 | $1,586,092 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
V
VISA INC
|
Financial Services | 0.60% | 0.49% |
#30
3
Prev: #27
|
0.7 |
—
|
200 | 4.1% |
P
S
|
5,100 | $1,529,512 | 2021 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
CW
CURTISS WRIGHT ...
|
Industrials | 0.60% | — |
#31
Prev: #—
|
3.7 |
—
|
2,400 | — |
NEW
|
2,400 | $1,518,789 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
STN
STANTEC INC
|
Industrials | 0.59% | — |
#32
Prev: #—
|
3.7 |
—
|
17,800 | — |
NEW
|
17,800 | $1,507,848 | 2021 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
HWM
HOWMET AEROSPAC...
|
Industrials | 0.56% | — |
#33
Prev: #—
|
3.7 |
—
|
6,400 | — |
NEW
|
6,400 | $1,428,872 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
J
JACOBS SOLUTION...
|
Industrials | 0.54% | 0.91% |
#34
15
Prev: #19
|
1.2 |
—
|
no change | no change |
P
S
|
11,000 | $1,374,470 | 2023 Q3 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
N/A
QUANTA SVCS INC
|
|
Unknown | 0.46% | — |
#35
Prev: #—
|
3.7 |
—
|
2,200 | — |
NEW
|
2,200 | $1,175,745 | — | 13F Filing | 2026-03-31 | 2026-05-14 | ||
|
ROL
ROLLINS INC
|
Consumer Cyclical | 0.46% | — |
#36
Prev: #—
|
3.7 |
—
|
22,000 | — |
NEW
|
22,000 | $1,168,300 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
JPM
JPMORGAN CHASE ...
|
Financial Services | 0.46% | 2.52% |
#37
30
Prev: #7
|
0.2 |
—
|
-8,600 | -67.7% |
P
S
|
4,100 | $1,164,872 | 2022 Q1 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
CNI
CANADIAN NATL R...
|
Industrials | 0.43% | — |
#38
Prev: #—
|
3.7 |
—
|
10,800 | — |
NEW
|
10,800 | $1,096,141 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
AROC
ARCHROCK INC
|
Energy | 0.43% | — |
#39
Prev: #—
|
3.7 |
—
|
31,500 | — |
NEW
|
31,500 | $1,087,757 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
LRCX
LAM RESEARCH CO...
|
Technology | 0.42% | — |
#40
Prev: #—
|
3.7 |
—
|
5,400 | — |
NEW
|
5,400 | $1,080,935 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
WWD
WOODWARD INC
|
Industrials | 0.40% | — |
#41
Prev: #—
|
3.7 |
—
|
3,000 | — |
NEW
|
3,000 | $1,025,806 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
WMB
WILLIAMS COS IN...
|
Energy | 0.40% | — |
#42
Prev: #—
|
3.7 |
—
|
14,000 | — |
NEW
|
14,000 | $1,015,814 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
GIB
CGI INC
|
Technology | 0.37% | 0.74% |
#43
21
Prev: #22
|
1.1 |
—
|
no change | no change |
P
S
|
12,910 | $937,251 | 2021 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
IBKR
INTERACTIVE BRO...
|
Financial Services | 0.35% | 1.08% |
#44
28
Prev: #16
|
0.1 |
—
|
-13,200 | -48.7% |
P
S
|
13,900 | $886,368 | 2024 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
RMD
RESMED INC
|
Healthcare | 0.35% | — |
#45
Prev: #—
|
3.6 |
—
|
4,000 | — |
NEW
|
4,000 | $881,191 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
VRT
VERTIV HOLDINGS...
|
Industrials | 0.33% | — |
#46
Prev: #—
|
3.6 |
—
|
3,600 | — |
NEW
|
3,600 | $844,218 | 2024 Q2 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
WCN
WASTE CONNECTIO...
|
Industrials | 0.32% | — |
#47
Prev: #—
|
3.6 |
—
|
5,100 | — |
NEW
|
5,100 | $826,490 | 2024 Q2 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
APH
AMPHENOL CORP
|
Technology | 0.32% | — |
#48
Prev: #—
|
3.6 |
—
|
6,800 | — |
NEW
|
6,800 | $811,206 | 2021 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
CACI
CACI INTL INC
|
Technology | 0.31% | — |
#49
Prev: #—
|
3.6 |
—
|
1,400 | — |
NEW
|
1,400 | $782,823 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
NOW
SERVICENOW INC
|
Technology | 0.29% | 0.66% |
#50
27
Prev: #23
|
1.1 |
—
|
no change | no change |
P
S
|
7,000 | $735,684 | 2025 Q3 | 13F Filing | 2026-03-31 | 2026-05-14 |
Showing 1-50 of 65 holdings