Ewing Morris & Co. Investment Partners Ltd.

Fundamental diversified ★Signal CIK 1846838
League rank
#27
in Fundamental diversified · #161 overall
Long book
$222.1M
Q1 2026
Positions
86
Top-10 weight
48%
concentration
Last quarter
+32.5%
SPY +14.8%
Turnover
30%
of book per quarter

Strategy in plain words

auto-generated from filings

Ewing Morris & Co. Investment Partners Ltd. is a diversified fundamental manager, running a $222.1M US long book across 86 positions.

The portfolio is moderately concentrated (top 10 ≈ 48% of the book). The portfolio is actively managed, with meaningful quarterly turnover. Current anchor positions: COMPASS MINERALS INTERNATION, ISHARES CORE S&P 500 ETF, BANDWIDTH INC, ISHARES MSCI INTERNATIONAL Q, SPDR GOLD SHARES.

Over the last 9 quarters its long book ran on average 1pp per quarter behind the S&P 500, beating the index in 4 of 9 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.

Implied long-book return vs S&P 500

methodology: positions priced quarterly, no shorts/options
Fund long book S&P 500
Q1 2024
-15.9%
Q2 2024
+9.1%
Q3 2024
+11.8%
Q4 2024
-11.6%
Q1 2025
+14.4%
Q2 2025
+1.6%
Q3 2025
-5.3%
Q4 2025
-5.7%
Q1 2026
+32.5%

Sector allocation

Materials
35%
Financials
18%
Industrials
16%
Technology
7%
Services media
5%
Utilities
5%
Other
4%
Energy
3%

Long book by quarter

$220.1M
Q1 2024
$157.3M
Q2 2024
$206.8M
Q3 2024
$289.9M
Q4 2024
$316.8M
Q1 2025
$222.9M
Q2 2025
$234.0M
Q3 2025
$229.2M
Q4 2025
$222.1M
Q1 2026

What does Ewing Morris own?

Q1 2026 13F
CompanySectorSharesValue% of bookChange
CMP COMPASS MINERALS INTERNATIONMaterials2.0M$40.4M18.2%+20.0%
RY ROYAL BANK OF CANADAFinancials35.2K$5.7M2.6%+18.7%
SRI STONERIDGE INCIndustrials1.4M$5.5M2.5%+2.2%
EFXT ENERFLEX LTDIndustrials250.0K$5.2M2.3%-16.7%
DRVN DRIVEN BRANDS HOLDINGS INCServices media406.0K$5.1M2.3%+6.2%
TD TORONTO-DOMINION BANKFinancials53.4K$5.0M2.2%0.0%
JBTM JBT MAREL CORPIndustrials36.7K$4.7M2.1%Held
GSHD GOOSEHEAD INSURANCE INC -AFinancials101.7K$4.3M2.0%+17.3%
FTS FORTIS INCUtilities65.5K$3.6M1.6%+1.8%
BMO BANK OF MONTREALFinancials26.6K$3.6M1.6%0.0%
ZD ZIFF DAVIS INCCommunications78.6K$3.3M1.5%+15.2%
SWIM LATHAM GROUP INCOther579.7K$3.1M1.4%-31.1%
ASTL ALGOMA STEEL GROUP INCIndustrials710.0K$2.9M1.3%+15.9%
SANG SANGOMA TECHNOLOGIES CORPTechnology668.3K$2.6M1.2%+35.3%
TRP TC ENERGY CORPUtilities39.2K$2.5M1.1%+0.3%
BL BLACKLINE INCTechnology60.0K$2.2M1.0%+700.0%
FSV FIRSTSERVICE CORPReal estate14.7K$2.0M0.9%+47.0%
CNQ CANADIAN NATURAL RESOURCESEnergy38.0K$1.9M0.8%Held
SNDL SNDL INCMaterials1.3M$1.7M0.8%+23.8%
SPXC SPX TECHNOLOGIES INCIndustrials8.6K$1.7M0.8%Held
ENB ENBRIDGE INCEnergy31.7K$1.7M0.8%+4.8%
BNS BANK OF NOVA SCOTIAFinancials22.8K$1.6M0.7%0.0%
RGLD ROYAL GOLD INCFinancials5.6K$1.4M0.6%Held
EVGO EVGO INCServices media756.3K$1.3M0.6%+80.1%
FUL H.B. FULLER CO.Other20.0K$1.2M0.6%-50.0%
BRK/B BERKSHIRE HATHAWAY INC-CL BFinancials2.5K$1.2M0.5%+67.6%
TRIP TRIPADVISOR INCTechnology100.0K$1.1M0.5%+0.1%
CRON CRONOS GROUP INCMaterials390.0K$984K0.4%Held
ORLA ORLA MINING LTDMaterials61.0K$978K0.4%-14.1%
GOGO GOGO INCCommunications234.1K$941K0.4%Held
MTCH MATCH GROUP INCTechnology30.2K$927K0.4%Held
CLS CELESTICA INCTechnology3.1K$865K0.4%Held
MSFT MICROSOFT CORPTechnology2.2K$799K0.4%+112.5%
MSTR 8 PERP STRATEGY INC10.7K$755K0.3%+12.5%
SLSR SOLARIS RESOURCES INCMaterials87.1K$750K0.3%Held
AAPL APPLE INCTechnology2.7K$690K0.3%-20.4%
CM CAN IMPERIAL BK OF COMMERCEFinancials6.7K$641K0.3%+1.4%
VAL VALARIS LTDEnergy6.1K$599K0.3%New
CP CANADIAN PACIFIC KANSAS CITYIndustrials7.6K$595K0.3%-0.6%
WPM WHEATON PRECIOUS METALS CORPMaterials4.4K$578K0.3%-11.8%
OR OR ROYALTIES INCMaterials14.6K$553K0.2%Held
HITI HIGH TIDE INCConsumer discretionary240.0K$545K0.2%Held
CNI CANADIAN NATL RAILWAY COIndustrials4.9K$504K0.2%+9.0%
AMZN AMAZON.COM INCConsumer discretionary2.3K$472K0.2%-1.1%
SU SUNCOR ENERGY INCEnergy6.9K$458K0.2%-0.6%
DCBO DOCEBO INCTechnology25.5K$445K0.2%New
JPM JPMORGAN CHASE & COFinancials1.4K$422K0.2%-12.2%
TFII TFI INTERNATIONAL INCIndustrials3.8K$419K0.2%+63.0%
VFF VILLAGE FARMS INTERNATIONALConsumer staples139.7K$397K0.2%Held
SA SEABRIDGE GOLD INCMaterials13.4K$379K0.2%+20.7%

13F filing history

PeriodFormFiledEntriesReported valueFlagsSource
Q1 202613F-HRMay 11, 202686$222.1M canonicalSEC ↗
Q4 202513F-HRFeb 17, 202691$229.2M canonicalSEC ↗
Q3 202513F-HRNov 14, 202594$234.0M canonicalSEC ↗
Q2 202513F-HRAug 15, 202594$222.9M canonicalSEC ↗
Q1 202513F-HRMay 15, 202598$316.8M canonicalSEC ↗
Q4 202413F-HRFeb 14, 202589$289.9M canonicalSEC ↗
Q3 202413F-HRNov 14, 202431$206.8M canonicalSEC ↗
Q2 202413F-HRAug 14, 202433$157.3M canonicalSEC ↗
Q1 202413F-HRMay 15, 202433$220.1M canonicalSEC ↗