Triasima Portfolio Management Inc. Top Holdings and 13F Report (2025)

About Triasima Portfolio Management Inc.

Investment Activity

Triasima Portfolio Management Inc. has $508.22 million in total holdings as of March 31, 2025.
Triasima Portfolio Management Inc. owns shares of 144 different stocks, but just 60 companies or ETFs make up 80% of its holdings.
Approximately 18.84% of the portfolio was purchased this quarter.
About 19.76% of the portfolio was sold this quarter.
This quarter, Triasima Portfolio Management Inc. has purchased 144 new stocks and bought additional shares in 43 stocks.
Triasima Portfolio Management Inc. sold shares of 53 stocks and completely divested from 26 stocks this quarter.

Largest Holdings

Royal Bank of Canada: $30,769,660
Brookfield: $19,395,732
Alamos Gold: $15,590,089
Kinross Gold: $15,287,926
Shopify: $14,914,561

Largest New Holdings this Quarter

67077M108 - Nutrien: $7,554,715 Holding
G16234109 - Brookfield Business Partners: $3,996,584 Holding
36168Q104 - GFL Environmental: $3,225,012 Holding
91529Y106 - Unum Group: $3,053,528 Holding
98422D105 - XPeng: $2,695,050 Holding

Largest Purchases this Quarter

Bank of Montreal: 140,957 shares (about $13.46M)
Nutrien: 152,242 shares (about $7.55M)
Shopify: 79,354 shares (about $7.55M)
Enbridge: 96,255 shares (about $4.26M)
Brookfield Business Partners: 170,685 shares (about $4.00M)

Largest Sales this Quarter

Canadian Natural Resources: 253,246 shares (about $7.79M)
Bank of Nova Scotia: 97,750 shares (about $4.63M)
Royal Bank of Canada: 32,189 shares (about $3.63M)
Kinross Gold: 284,962 shares (about $3.59M)
TC Energy: 69,654 shares (about $3.29M)

Sector Allocation Over Time

Selling

Neutral

Buying

Latest 13F Holdings and Changes Since Previous Quarterly Filing

Issuer Name	Holdings Value	Approximate Purchase/Sale	Change in Shares	Shares Held	% of Portfolio	Sector
RY Royal Bank of Canada	$30,769,660	$3,625,386 ▼	-10.5%	273,197	6.1%	Finance
BN Brookfield	$19,395,732	$878,970 ▼	-4.3%	370,672	3.8%	Finance
AGI Alamos Gold	$15,590,089	$342,196 ▼	-2.1%	583,564	3.1%	Basic Materials
KGC Kinross Gold	$15,287,926	$3,589,620 ▼	-19.0%	1,213,632	3.0%	Basic Materials
SHOP Shopify	$14,914,561	$7,548,072 ▲	102.5%	156,799	2.9%	Computer and Technology
BMO Bank of Montreal	$13,660,555	$13,458,614 ▲	6,664.6%	143,072	2.7%	Finance
MFC Manulife Financial	$11,287,591	$464,554 ▼	-4.0%	362,303	2.2%	Finance
CM Canadian Imperial Bank of Commerce	$11,014,711	$3,146,771 ▼	-22.2%	195,836	2.2%	Finance
PBA Pembina Pipeline	$10,674,905	$204,484 ▼	-1.9%	266,919	2.1%	Energy
ENB Enbridge	$10,136,677	$4,259,497 ▲	72.5%	229,066	2.0%	Energy
TRP TC Energy	$9,378,928	$3,288,995 ▼	-26.0%	198,626	1.8%	Energy
TRI Thomson Reuters	$9,352,598	$50,900 ▼	-0.5%	54,205	1.8%	Business Services
RACE Ferrari	$9,246,914	$73,167 ▼	-0.8%	21,611	1.8%	Auto/Tires/Trucks
GOOGL Alphabet	$8,704,840	$721,705 ▲	9.0%	56,291	1.7%	Computer and Technology
CELESTICA INC	$8,422,209	$1,082,709 ▲	14.8%	106,780	1.7%	COM
RBA RB Global	$7,752,105	$2,350,920 ▲	43.5%	77,250	1.5%	Business Services
NTR Nutrien	$7,554,715	$7,554,715 ▲	New Holding	152,242	1.5%	Basic Materials
BNS Bank of Nova Scotia	$7,498,354	$4,633,998 ▼	-38.2%	158,171	1.5%	Finance
ARES Ares Management	$7,092,845	$651,681 ▲	10.1%	48,379	1.4%	Finance
DSGX The Descartes Systems Group	$6,941,278	$553,611 ▼	-7.4%	68,960	1.4%	Computer and Technology
WCN Waste Connections	$6,739,532	$823,265 ▼	-10.9%	32,729	1.3%	Business Services
MSFT Microsoft	$6,290,410	$753,032 ▼	-10.7%	16,757	1.2%	Computer and Technology
MMC Marsh & McLennan Companies	$6,196,653	$14,642 ▲	0.2%	25,393	1.2%	Finance
NVDA NVIDIA	$5,907,685	$2,407,011 ▼	-28.9%	54,509	1.2%	Computer and Technology
TJX TJX Companies	$5,809,981	$68,208 ▲	1.2%	47,701	1.1%	Retail/Wholesale
JPM JPMorgan Chase & Co.	$5,729,717	$72,118 ▲	1.3%	23,358	1.1%	Finance
MELI MercadoLibre	$5,706,294	$107,298 ▲	1.9%	2,925	1.1%	Retail/Wholesale
WELL Welltower	$5,685,316	$3,846,796 ▲	209.2%	37,108	1.1%	Finance
AJG Arthur J. Gallagher & Co.	$5,599,447	$130,155 ▲	2.4%	16,219	1.1%	Finance
AEM Agnico Eagle Mines	$5,589,686	$379,145 ▼	-6.4%	51,600	1.1%	Basic Materials
AVGO Broadcom	$5,185,139	$525,563 ▼	-9.2%	30,969	1.0%	Computer and Technology
FTS Fortis	$5,149,267	$3,835,216 ▲	291.9%	113,060	1.0%	Utilities
V Visa	$4,724,200	$193,103 ▲	4.3%	13,480	0.9%	Business Services
GIL Gildan Activewear	$4,498,377	$2,491,977 ▲	124.2%	101,765	0.9%	Consumer Discretionary
BSX Boston Scientific	$4,496,120	$359,032 ▲	8.7%	44,569	0.9%	Medical
RSG Republic Services	$4,415,787	$504,661 ▲	12.9%	18,235	0.9%	Business Services
NOW ServiceNow	$4,368,420	$1,348,661 ▲	44.7%	5,487	0.9%	Computer and Technology
IBN ICICI Bank	$4,251,890		0.0%	134,895	0.8%	Finance
PAAS Pan American Silver	$4,222,801	$504,510 ▲	13.6%	163,510	0.8%	Basic Materials
AER AerCap	$4,210,425	$1,787,975 ▲	73.8%	41,210	0.8%	Transportation
META Meta Platforms	$4,207,428	$2,269,706 ▲	117.1%	7,300	0.8%	Computer and Technology
ARISTA NETWORKS INC	$4,118,216	$1,962,955 ▼	-32.3%	53,152	0.8%	COM SHS
SLF Sun Life Financial	$4,007,414	$1,266,373 ▲	46.2%	70,030	0.8%	Finance
BBU Brookfield Business Partners	$3,996,584	$3,996,584 ▲	New Holding	170,685	0.8%	Business Services
AXON Axon Enterprise	$3,917,275	$396,040 ▼	-9.2%	7,448	0.8%	Aerospace
WPM Wheaton Precious Metals	$3,685,478	$504,329 ▲	15.9%	47,500	0.7%	Basic Materials
HLI Houlihan Lokey	$3,658,944		0.0%	22,656	0.7%	Finance
IMO Imperial Oil	$3,562,865	$3,143,165 ▼	-46.9%	49,330	0.7%	Energy
AVB AvalonBay Communities	$3,515,260	$68,035 ▼	-1.9%	16,379	0.7%	Finance
PG Procter & Gamble	$3,406,866		0.0%	19,991	0.7%	Consumer Staples
CHRW C.H. Robinson Worldwide	$3,342,848	$27,136 ▲	0.8%	32,645	0.7%	Transportation
VOO Vanguard S&P 500 ETF	$3,340,415	$97,129 ▼	-2.8%	6,500	0.7%	ETF
NU NU	$3,239,485	$44,820 ▲	1.4%	316,356	0.6%	Finance
GFL GFL Environmental	$3,225,012	$3,225,012 ▲	New Holding	66,776	0.6%	Business Services
KEY KeyCorp	$3,223,264		0.0%	201,580	0.6%	Finance
COST Costco Wholesale	$3,205,248	$140,921 ▼	-4.2%	3,389	0.6%	Retail/Wholesale
UNM Unum Group	$3,053,528	$3,053,528 ▲	New Holding	37,485	0.6%	Finance
VRTX Vertex Pharmaceuticals	$3,012,186	$2,640,814 ▼	-46.7%	6,213	0.6%	Medical
SOUTH BOW CORP	$2,985,369	$2,115,568 ▲	243.2%	116,885	0.6%	COM
GEHC GE HealthCare Technologies	$2,959,232	$810,813 ▲	37.7%	36,665	0.6%	Medical
BABA Alibaba Group	$2,738,483	$9,917 ▲	0.4%	20,710	0.5%	Retail/Wholesale
PANW Palo Alto Networks	$2,706,350	$5,972 ▲	0.2%	15,860	0.5%	Computer and Technology
XPEV XPeng	$2,695,050	$2,695,050 ▲	New Holding	130,070	0.5%	Auto/Tires/Trucks
CNQ Canadian Natural Resources	$2,613,666	$7,791,372 ▼	-74.9%	84,953	0.5%	Energy
AFL Aflac	$2,572,491	$2,026,993 ▼	-44.1%	23,136	0.5%	Finance
KD Kyndryl	$2,540,260	$2,540,260 ▲	New Holding	80,900	0.5%	Business Services
TSM Taiwan Semiconductor Manufacturing	$2,535,152	$503,312 ▲	24.8%	15,272	0.5%	Computer and Technology
ONON ON	$2,455,347	$52,045 ▲	2.2%	55,905	0.5%	Retail/Wholesale
COOP Mr. Cooper Group	$2,445,820		0.0%	20,450	0.5%	Finance
FSV FirstService	$2,412,146	$166,955 ▼	-6.5%	14,549	0.5%	Finance
MMYT MakeMyTrip	$2,393,209	$421,455 ▲	21.4%	24,423	0.5%	Computer and Technology
AMZN Amazon.com	$2,307,092	$1,143,082 ▼	-33.1%	12,126	0.5%	Retail/Wholesale
GE VERNOVA INC	$2,284,104	$1,483,050 ▼	-39.4%	7,482	0.4%	COM
SFM Sprouts Farmers Market	$2,261,819		0.0%	14,818	0.4%	Retail/Wholesale
CCJ Cameco	$2,257,643	$275,774 ▲	13.9%	54,850	0.4%	Basic Materials
AMT American Tower	$2,256,512	$104,448 ▼	-4.4%	10,370	0.4%	Finance
GATX GATX	$2,249,241	$2,249,241 ▲	New Holding	14,486	0.4%	Transportation
CL Colgate-Palmolive	$2,236,619	$117,687 ▼	-5.0%	23,870	0.4%	Consumer Staples
RELX Relx	$2,203,421	$18,400 ▲	0.8%	43,710	0.4%	Computer and Technology
CRH PLC	$2,195,731	$2,195,731 ▲	New Holding	24,960	0.4%	ORD
CEG Constellation Energy	$2,080,619	$157,070 ▼	-7.0%	10,319	0.4%	Energy
WAB Westinghouse Air Brake Technologies	$1,970,730	$1,970,730 ▲	New Holding	10,867	0.4%	Transportation
NVS Novartis	$1,946,998	$338,119 ▼	-14.8%	17,465	0.4%	Medical
IT Gartner	$1,768,364	$1,460,275 ▼	-45.2%	4,213	0.3%	Business Services
CIB Bancolombia	$1,767,795	$1,767,795 ▲	New Holding	43,975	0.3%	Finance
MRVL Marvell Technology	$1,748,280		0.0%	28,395	0.3%	Computer and Technology
VRT Vertiv	$1,647,965	$1,647,965 ▲	New Holding	22,825	0.3%	Computer and Technology
IAG IAMGOLD	$1,637,844	$560,375 ▼	-25.5%	262,502	0.3%	Basic Materials
BROOKFIELD WEALTH SOL LTD	$1,617,172	$727,364 ▼	-31.0%	30,951	0.3%	CL A EXCHANGEAB
T AT&T	$1,592,446	$740,936 ▼	-31.8%	56,310	0.3%	Computer and Technology
NEW GOLD INC CDA	$1,566,417	$712,456 ▼	-31.3%	423,772	0.3%	COM
EFA iShares MSCI EAFE ETF	$1,528,269	$3,514 ▼	-0.2%	18,699	0.3%	Finance
SYK Stryker	$1,487,511	$300,034 ▲	25.3%	3,996	0.3%	Medical
OTIS Otis Worldwide	$1,441,600	$634,576 ▲	78.6%	13,969	0.3%	Construction
ASML ASML	$1,300,742	$1,988 ▼	-0.2%	1,963	0.3%	Computer and Technology
ECL Ecolab	$1,166,192		0.0%	4,600	0.2%	Basic Materials
BIP Brookfield Infrastructure Partners	$986,451	$4,938 ▼	-0.5%	33,164	0.2%	Finance
ROST Ross Stores	$972,481		0.0%	7,610	0.2%	Retail/Wholesale
CSCO Cisco Systems	$942,435		0.0%	15,272	0.2%	Computer and Technology
PPTA Perpetua Resources	$864,386	$864,386 ▲	New Holding	80,994	0.2%	Basic Materials

Showing largest 100 holdings. View all holdings.

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Triasima Portfolio Management Inc. Top Holdings and 13F Report (2025)

About Triasima Portfolio Management Inc.

Investment Activity

Largest Holdings

Largest New Holdings this Quarter

Largest Purchases this Quarter

Largest Sales this Quarter

Sector Allocation Over Time

Latest 13F Holdings and Changes Since Previous Quarterly Filing

More Institutional Buying and Selling Information

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

About MarketBeat

MarketBeat Products

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Triasima Portfolio Management Inc. Top Holdings and 13F Report (2025)

About Triasima Portfolio Management Inc.

Investment Activity

Largest Holdings

Largest New Holdings this Quarter

Largest Purchases this Quarter

Largest Sales this Quarter

Sector Allocation Over Time

Map of 500 Largest Holdings ofTriasima Portfolio Management Inc.

Latest 13F Holdings and Changes Since Previous Quarterly Filing

More Institutional Buying and Selling Information

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools