Triasima Portfolio Management inc.
Long book
$661.5M
Q1 2026
Positions
137
Top-10 weight
30%
concentration
Last quarter
+13.1%
SPY +14.8%
Turnover
32%
of book per quarter
Strategy in plain words
auto-generated from filingsTriasima Portfolio Management inc. is an institutional manager, running a $661.5M US long book across 137 positions.
The portfolio is moderately concentrated (top 10 ≈ 30% of the book). The portfolio is actively managed, with meaningful quarterly turnover. Current anchor positions: ROYAL BANK OF CANADA, TORONTO-DOMINION BANK, CAN IMPERIAL BK OF COMMERCE, BANK OF MONTREAL, SHOPIFY INC - CLASS A.
Over the last 9 quarters its long book ran on average 1.6pp per quarter ahead of the S&P 500, beating the index in 6 of 9 quarters. Signal value of individual moves is limited — treat changes as weak evidence.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-0.3%
Q2 2024
+9.8%
Q3 2024
-0.5%
Q4 2024
-1.3%
Q1 2025
+14.9%
Q2 2025
+11.2%
Q3 2025
+5.8%
Q4 2025
+2.2%
Q1 2026
+13.1%
Sector allocation
Financials 26%
Technology 19%
Materials 15%
Industrials 13%
Energy 7%
Consumer discretionary 5%
Communications 4%
Utilities 4%
Long book by quarter
What does Triasima Portfolio own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| RY ROYAL BANK OF CANADA | Financials | 253.0K | $40.8M | 6.2% | +5.2% |
| TD TORONTO-DOMINION BANK | Financials | 276.0K | $25.7M | 3.9% | +9.9% |
| CM CAN IMPERIAL BK OF COMMERCE | Financials | 231.2K | $21.8M | 3.3% | +3.8% |
| BMO BANK OF MONTREAL | Financials | 140.8K | $19.0M | 2.9% | +21.2% |
| SHOP SHOPIFY INC - CLASS A | Technology | 155.2K | $18.4M | 2.8% | -14.9% |
| KGC KINROSS GOLD CORP | Materials | 506.8K | $15.4M | 2.3% | -34.5% |
| TIGO MILLICOM INTL CELLULAR S.A. | Communications | 203.8K | $15.3M | 2.3% | +0.2% |
| FTS FORTIS INC | Utilities | 256.3K | $14.3M | 2.2% | +2.5% |
| GOOGL ALPHABET INC-CL A | Technology | 47.7K | $13.7M | 2.1% | +3.1% |
| PAAS PAN AMERICAN SILVER CORP | Materials | 223.2K | $12.2M | 1.8% | -11.7% |
| HBM HUDBAY MINERALS INC | Materials | 573.2K | $12.0M | 1.8% | -2.0% |
| CCJ CAMECO CORP | Materials | 108.9K | $11.8M | 1.8% | +2.0% |
| TJX TJX COMPANIES INC | Consumer discretionary | 71.5K | $11.4M | 1.7% | +2.7% |
| MSFT MICROSOFT CORP | Technology | 28.8K | $10.7M | 1.6% | +0.8% |
| CLS CELESTICA INC | Technology | 37.3K | $10.5M | 1.6% | -6.5% |
| IMO IMPERIAL OIL LTD | Energy | 72.7K | $9.5M | 1.4% | -13.4% |
| FER FERROVIAL NV | Industrials | 141.0K | $9.2M | 1.4% | +10.6% |
| CVE CENOVUS ENERGY INC | Energy | 345.4K | $9.1M | 1.4% | -24.2% |
| NVDA NVIDIA CORP | Technology | 51.7K | $9.0M | 1.4% | -26.9% |
| BNS BANK OF NOVA SCOTIA | Financials | 128.7K | $8.9M | 1.3% | -0.9% |
| ENB ENBRIDGE INC | Energy | 145.5K | $7.9M | 1.2% | -36.8% |
| TFII TFI INTERNATIONAL INC | Industrials | 68.7K | $7.5M | 1.1% | New |
| BCE BCE INC | Communications | 296.4K | $7.5M | 1.1% | New |
| AGI ALAMOS GOLD INC-CLASS A | Materials | 158.5K | $7.0M | 1.1% | +1.3% |
| AVGO BROADCOM INC | Technology | 22.4K | $6.9M | 1.0% | -43.8% |
| GILD GILEAD SCIENCES INC | Healthcare | 48.1K | $6.7M | 1.0% | +2.0% |
| AER AERCAP HOLDINGS NV | Services media | 48.3K | $6.6M | 1.0% | +11.7% |
| GEV GE VERNOVA INC | Industrials | 7.6K | $6.6M | 1.0% | -20.4% |
| FIX COMFORT SYSTEMS USA INC | Industrials | 4.6K | $6.4M | 1.0% | +12.6% |
| GS GOLDMAN SACHS GROUP INC | Financials | 7.4K | $6.3M | 0.9% | +1.7% |
| AAPL APPLE INC | Technology | 24.5K | $6.2M | 0.9% | +32.7% |
| LRCX LAM RESEARCH CORP | Industrials | 28.9K | $6.2M | 0.9% | +12.1% |
| CNI CANADIAN NATL RAILWAY CO | Industrials | 60.0K | $6.2M | 0.9% | +54.5% |
| JPM JPMORGAN CHASE & CO | Financials | 20.8K | $6.1M | 0.9% | -34.5% |
| MGA MAGNA INTERNATIONAL INC | Industrials | 106.4K | $5.9M | 0.9% | +3.6% |
| LLY ELI LILLY & CO | Healthcare | 6.4K | $5.8M | 0.9% | +6.4% |
| UBS UBS GROUP AG-REG | Financials | 148.3K | $5.8M | 0.9% | +2.7% |
| MFC MANULIFE FINANCIAL CORP | Financials | 168.3K | $5.8M | 0.9% | +1015.3% |
| WPM WHEATON PRECIOUS METALS CORP | Materials | 43.1K | $5.6M | 0.9% | +154.8% |
| MCK MCKESSON CORP | Consumer discretionary | 6.1K | $5.3M | 0.8% | +12.7% |
| CHRW C.H. ROBINSON WORLDWIDE INC | Industrials | 31.3K | $5.2M | 0.8% | Held |
| INTC INTEL CORP | Technology | 116.5K | $5.1M | 0.8% | +84.8% |
| SPGI S&P GLOBAL INC | Services media | 11.0K | $4.7M | 0.7% | New |
| KLAC KLA CORP | Other | 3.1K | $4.6M | 0.7% | -21.1% |
| EZPW EZCORP INC-CL A | Consumer discretionary | 179.0K | $4.5M | 0.7% | +4.8% |
| CSCO CISCO SYSTEMS INC | Technology | 56.3K | $4.4M | 0.7% | 0.0% |
| AEM AGNICO EAGLE MINES LTD | Materials | 20.8K | $4.2M | 0.6% | -1.7% |
| NXT NEXTPOWER INC-CL A | Technology | 34.4K | $4.2M | 0.6% | +0.1% |
| SU SUNCOR ENERGY INC | Energy | 62.1K | $4.1M | 0.6% | +1.7% |
| MPWR MONOLITHIC POWER SYSTEMS INC | Technology | 3.7K | $4.1M | 0.6% | +0.3% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | Apr 24, 2026 | 137 | $661.5M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 2, 2026 | 143 | $667.7M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Oct 29, 2025 | 149 | $662.6M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Jul 23, 2025 | 128 | $547.2M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 2, 2025 | 144 | $508.2M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Jan 28, 2025 | 144 | $515.3M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 12, 2024 | 85 | $444.9M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 6, 2024 | 139 | $1.09B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | Apr 26, 2024 | 138 | $1.19B | canonical | SEC ↗ |
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