Triasima Portfolio Management inc.

MONTREAL, A8 · CIK 1938757 · 13F filing filed 2026-07-21

SEC-registered investment adviser since 2020 · corporation

Assets managed$1.1bn
Staff24 · 10 in investment roles
Main clients (by assets)Private funds 49%, Insurers 19%, High net worth individuals 9%
Main officeMontreal, Quebec
Websitetriasima.com
Form ADV · 2026-03-25SEC adviser record

Legal entityTRIASIMA PORTFOLIO MANAGEMENT INC. (CA)

Others nearbyMontréal

$740.3m reported value +11.9% vs Q1 2026

127positions

32.2%in top 10

19 new 55 added 41 reduced 29 sold out vs Q1 2026

Holdings, Q2 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	ROYAL BK CDA COM RY	RY	255,069	$52.8m7.13%	7.13%	Added +2.1k	+2,057 0.8%
2	TORONTO DOMINION BK ONT COM NEW TD	TD	306,074	$37.2m5.02%	5.02%	Added +30.0k	+30,025 10.9%
3	CANADIAN IMPERIAL BANK OF CO COM CM	CM	243,652	$28.0m3.79%	3.79%	Added +12.4k	+12,415 5.4%
4	BANK MONTREAL QUE COM BMO	BMO	153,984	$27.2m3.67%	3.67%	Added +13.2k	+13,180 9.4%
5	MILLICOM INTL CELLULAR S A COM STK TIGO	TIGO	204,624	$18.6m2.51%	2.51%	Added +834	+834 0.4%
6	ALPHABET INC CAP STK CL A GOOGL	GOOGL	47,985	$17.1m2.32%	2.32%	Added +251	+251 0.5%
7	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS TSM	TSM	33,457	$16.0m2.16%	2.16%	Added +988	+988 3.0%
8	FORTIS INC COM FTS	FTS	263,190	$15.1m2.04%	2.04%	Added +6.9k	+6,883 2.7%
9	HUDBAY MINERALS INC COM HBM	HBM	563,547	$13.3m1.80%	1.80%	Reduced -9.7k	-9,685 -1.7%
10	CANADIAN NATL RY CO COM CNI	CNI	107,420	$12.8m1.73%	1.73%	Added +47.5k	+47,470 79.2%
11	ELI LILLY & CO COM LLY	LLY	10,046	$12.0m1.63%	1.63%	Added +3.7k	+3,695 58.2%
12	CELESTICA INC COM CLS	CLS	32,199	$11.7m1.59%	1.59%	Reduced -5.1k	-5,118 -13.7%
13	TJX COS INC NEW COM TJX	TJX	74,259	$11.3m1.52%	1.52%	Added +2.7k	+2,725 3.8%
14	BANK NOVA SCOTIA HALIFAX COM BNS	BNS	128,680	$11.2m1.51%	1.51%	Unchanged
15	WELLTOWER INC COM WELL	WELL	48,359	$11.0m1.48%	1.48%	Added +3.2k	+3,153 7.0%
16	LAM RESEARCH CORP COM NEW LRCX	LRCX	25,293	$11.0m1.48%	1.48%	Reduced -3.6k	-3,570 -12.4%
17	APPLE INC COM AAPL	AAPL	36,826	$10.7m1.44%	1.44%	Added +12.3k	+12,349 50.5%
18	MICROSOFT CORP COM MSFT	MSFT	28,430	$10.6m1.43%	1.43%	Reduced -372	-372 -1.3%
19	TFI INTL INC COM TFII	TFII	72,751	$10.5m1.41%	1.41%	Added +4.0k	+4,010 5.8%
20	NVIDIA CORPORATION COM NVDA	NVDA	51,649	$10.3m1.40%	1.40%	Reduced -56	-56 -0.1%
21	ROYALTY PHARMA PLC SHS CLASS A RPRX	RPRX	180,710	$10.1m1.37%	1.37%	New
22	GRUPO CIBEST SA SPON ADS CIB	CIB	123,151	$9.8m1.32%	1.32%	Reduced -20.4k	-20,351 -14.2%
23	ENBRIDGE INC COM ENB	ENB	177,163	$9.6m1.30%	1.30%	Added +31.7k	+31,693 21.8%
24	SIMON PPTY GROUP INC NEW COM SPG	SPG	42,583	$9.5m1.29%	1.29%	Added +11.2k	+11,190 35.6%
25	KLA CORP COM NEW KLAC	KLAC	31,300	$9.4m1.28%	1.28%	Unchanged
26	INTERACTIVE BROKERS GROUP IN COM CL A IBKR	IBKR	102,684	$8.9m1.21%	1.21%	Added +58.2k	+58,234 131.0%
27	INTEL CORP COM INTC	INTC	61,940	$8.6m1.17%	1.17%	Reduced -54.6k	-54,575 -46.8%
28	CAMECO CORP COM CCJ	CCJ	84,052	$8.6m1.16%	1.16%	Reduced -24.9k	-24,864 -22.8%
29	BROADCOM INC COM AVGO	AVGO	22,617	$8.5m1.15%	1.15%	Added +241	+241 1.1%
30	GOLDMAN SACHS GROUP INC COM GS	GS	8,447	$8.5m1.15%	1.15%	Added +1.0k	+1,036 14.0%
31	MAGNA INTL INC COM MGA	MGA	128,240	$8.4m1.14%	1.14%	Added +21.8k	+21,800 20.5%
32	KINROSS GOLD CORP COM KGC	KGC	354,983	$8.4m1.13%	1.13%	Reduced -151.8k	-151,842 -30.0%
33	CENOVUS ENERGY INC COM CVE	CVE	323,882	$8.0m1.09%	1.09%	Reduced -21.5k	-21,470 -6.2%
34	MDA SPACE LTD COM MDA	MDA	192,919	$8.0m1.08%	1.08%	Added +37.9k	+37,854 24.4%
35	COMFORT SYS USA INC COM FIX	FIX	3,869	$7.7m1.04%	1.04%	Reduced -770	-770 -16.6%
36	UBS GROUP AG SHS UBS	UBS	154,449	$7.7m1.03%	1.03%	Added +6.2k	+6,189 4.2%
37	MANULIFE FINL CORP COM MFC	MFC	184,858	$7.5m1.01%	1.01%	Added +16.5k	+16,529 9.8%
38	GE VERNOVA INC COM GEV	GEV	6,302	$7.4m1.00%	1.00%	Reduced -1.3k	-1,258 -16.6%
39	CISCO SYS INC COM CSCO	CSCO	61,389	$7.2m0.97%	0.97%	Added +5.1k	+5,080 9.0%
40	FERROVIAL SE ORD SHS FER	FER	105,043	$7.2m0.97%	0.97%	Reduced -36.0k	-35,951 -25.5%
41	AERCAP HOLDINGS NV SHS AER	AER	48,416	$7.1m0.95%	0.95%	Added +95	+95 0.2%
42	NOVARTIS AG SPONSORED ADR NVS	NVS	44,755	$7.0m0.95%	0.95%	Reduced -7.7k	-7,715 -14.7%
43	PAN AMERN SILVER CORP COM PAAS	PAAS	155,520	$7.0m0.94%	0.94%	Reduced -67.7k	-67,710 -30.3%
44	CANADIAN NAT RES LTD COM CNQ	CNQ	166,100	$6.6m0.89%	0.89%	Added +133.2k	+133,218 405.1%
45	CITIZENS FINL GROUP INC COM CFG	CFG	92,429	$6.5m0.87%	0.87%	Added +30.0k	+30,030 48.1%
46	ENERFLEX LTD COM EFXT	EFXT	260,824	$6.4m0.86%	0.86%	Added +97.4k	+97,418 59.6%
47	EZCORP INC CL A NON VTG EZPW	EZPW	178,150	$6.2m0.83%	0.83%	Reduced -810	-810 -0.5%
48	SHOPIFY INC CL A SUB VTG SHS SHOP	SHOP	52,977	$6.1m0.82%	0.82%	Reduced -102.2k	-102,239 -65.9%
49	QUANTA SVCS INC COM PWR	PWR	8,358	$6.0m0.81%	0.81%	Added +2.9k	+2,860 52.0%
50	C H ROBINSON WORLDWIDE INC COM NEW CHRW	CHRW	31,305	$5.9m0.80%	0.80%	Unchanged
51	GILEAD SCIENCES INC COM GILD	GILD	45,238	$5.7m0.77%	0.77%	Reduced -2.9k	-2,874 -6.0%
52	JPMORGAN CHASE & CO COM JPM	JPM	17,419	$5.7m0.77%	0.77%	Reduced -3.3k	-3,342 -16.1%
53	IMPERIAL OIL LTD COM NEW IMO	IMO	50,745	$5.7m0.77%	0.77%	Reduced -22.0k	-22,000 -30.2%
54	TEXAS INSTRS INC COM TXN	TXN	18,066	$5.4m0.73%	0.73%	Added +5.9k	+5,875 48.2%
55	MONOLITHIC PWR SYS INC COM MPWR	MPWR	3,707	$5.1m0.69%	0.69%	Unchanged
56	ASML HOLDING N V N Y REGISTRY SHS ASML	ASML	2,571	$5.1m0.69%	0.69%	Added +575	+575 28.8%
57	BARCLAYS PLC ADR BCS	BCS	182,245	$4.9m0.66%	0.66%	Reduced -6.9k	-6,920 -3.7%
58	WHEATON PRECIOUS METALS CORP COM WPM	WPM	42,748	$4.8m0.65%	0.65%	Reduced -310	-310 -0.7%
59	SOUTH BOW CORP COM SOBO	SOBO	127,160	$4.5m0.60%	0.60%	Added +13.7k	+13,700 12.1%
60	NEXTRACKER INC CLASS A COM NXT	NXT	37,123	$4.4m0.60%	0.60%	Added +2.7k	+2,681 7.8%
61	BORGWARNER INC COM BWA	BWA	64,190	$4.3m0.58%	0.58%	New
62	VANGUARD INDEX FDS S&P 500 ETF SHS VOO	VOO	6,102	$4.2m0.57%	0.57%	Reduced -190	-190 -3.0%
63	JABIL INC COM JBL	JBL	10,515	$4.1m0.55%	0.55%	Added +25	+25 0.2%
64	NOKIA CORP SPONSORED ADR NOK	NOK	266,135	$3.5m0.48%	0.48%	New
65	CVS HEALTH CORP COM CVS	CVS	32,715	$3.4m0.46%	0.46%	New
66	RALPH LAUREN CORP CL A RL	RL	7,775	$3.1m0.42%	0.42%	New
67	TC ENERGY CORP COM TRP	TRP	46,770	$3.1m0.42%	0.42%	New
68	PEMBINA PIPELINE CORP COM PBA	PBA	66,050	$3.1m0.41%	0.41%	New
69	IAMGOLD CORP COM IAG	IAG	190,733	$3.0m0.41%	0.41%	Unchanged
70	TARGET CORP COM TGT	TGT	23,080	$3.0m0.41%	0.41%	New
71	HUNTINGTON BANCSHARES INC COM HBAN	HBAN	167,905	$3.0m0.40%	0.40%	Added +18.4k	+18,400 12.3%
72	ELECTROVAYA INC COM NEW ELVA	ELVA	276,776	$2.9m0.39%	0.39%	Added +6.2k	+6,161 2.3%
73	WILLIAMS SONOMA INC COM WSM	WSM	12,275	$2.9m0.39%	0.39%	Unchanged
74	BCE INC COM NEW BCE	BCE	130,932	$2.8m0.38%	0.38%	Reduced -165.5k	-165,489 -55.8%
75	COGNEX CORP COM CGNX	CGNX	33,583	$2.4m0.33%	0.33%	New
76	DENISON MINES CORP COM DNN	DNN	741,091	$2.3m0.31%	0.31%	Added +12.6k	+12,582 1.7%
77	POWELL INDS INC COM POWL	POWL	7,719	$2.2m0.30%	0.30%	Reduced -246	-246 -3.1%
78	SUNCOR ENERGY INC NEW COM SU	SU	40,785	$2.2m0.30%	0.30%	Reduced -21.3k	-21,329 -34.3%
79	METHANEX CORP COM MEOH	MEOH	46,852	$2.2m0.29%	0.29%	New
80	AMPHENOL CORP CL A APH	APH	12,239	$2.2m0.29%	0.29%	Added +238	+238 2.0%
81	ROGERS COMMUNICATIONS INC CL B RCI	RCI	65,751	$2.1m0.29%	0.29%	Reduced -37.3k	-37,348 -36.2%
82	AMAZON COM INC COM AMZN	AMZN	8,608	$2.1m0.28%	0.28%	Added +3.2k	+3,155 57.9%
83	HIGHLANDER SILVER CORP COM HSLV	HSLV	428,593	$2.0m0.27%	0.27%	Added +5.8k	+5,789 1.4%
84	BEL FUSE INC CL A BELFA	BELFA	6,902	$2.0m0.27%	0.27%	Added +5.2k	+5,160 296.2%
85	RESTAURANT BRANDS INTL INC COM QSR	QSR	26,800	$1.9m0.26%	0.26%	Unchanged
86	ORLA MNG LTD NEW COM OLA	OLA	191,800	$1.9m0.25%	0.25%	Reduced -58.1k	-58,077 -23.2%
87	ARISTA NETWORKS INC COM SHS ANET	ANET	10,143	$1.7m0.23%	0.23%	Added +323	+323 3.3%
88	NUTRIEN LTD COM NTR	NTR	26,992	$1.7m0.23%	0.23%	Added +10.2k	+10,165 60.4%
89	ISHARES TR MSCI EAFE ETF EFA	EFA	16,023	$1.7m0.22%	0.22%	Added +305	+305 1.9%
90	TECK RESOURCES LTD CL B TECK	TECK	27,450	$1.6m0.22%	0.22%	New
91	BANCO DE CHILE SPONSORED ADS BCH	BCH	38,915	$1.5m0.21%	0.21%	Reduced -69.0k	-69,050 -64.0%
92	BWX TECHNOLOGIES INC COM BWXT	BWXT	7,744	$1.5m0.20%	0.20%	Added +5.1k	+5,110 194.0%
93	ARIS MNG CORP COM ARIS	ARIS	92,410	$1.4m0.19%	0.19%	Reduced -37.8k	-37,824 -29.0%
94	ALPHABET INC CAP STK CL C GOOG	GOOG	3,787	$1.3m0.18%	0.18%	Unchanged
95	AGNICO EAGLE MINES LTD COM AEM	AEM	8,384	$1.3m0.18%	0.18%	Reduced -12.4k	-12,449 -59.8%
96	CSX CORP COM CSX	CSX	26,440	$1.3m0.17%	0.17%	Added +15.3k	+15,340 138.2%
97	AMERICAN ELEC PWR CO INC COM AEP	AEP	9,099	$1.2m0.17%	0.17%	New
98	SPHERE ENTERTAINMENT CO CL A SPHR	SPHR	6,850	$1.2m0.16%	0.16%	Added +4.7k	+4,741 224.8%
99	APPLIED MATLS INC COM AMAT	AMAT	1,577	$1.1m0.15%	0.15%	New
100	CANADIAN PACIFIC KANSAS CITY COM CP	CP	12,915	$1.1m0.15%	0.15%	Added +5.6k	+5,575 76.0%

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
GRANITE REAL ESTATE INVT TR GRTUF	GRTUF	117,603	$6.9m117.6k shares
S&P GLOBAL INC SPGI	SPGI	10,966	$4.7m11.0k shares
ALGONQUIN PWR UTILS CORP AQN	AQN	622,325	$3.8m622.3k shares
ALBEMARLE CORP ALB	ALB	20,086	$3.6m20.1k shares
MEDTRONIC PLC MDT	MDT	33,215	$2.9m33.2k shares
PARKER-HANNIFIN CORP PH	PH	3,118	$2.8m3.1k shares
NOBLE CORP PLC NE	NE	55,225	$2.7m55.2k shares
CAE INC CAE	CAE	99,009	$2.6m99.0k shares
NU HLDGS LTD NU	NU	163,238	$2.3m163.2k shares
GRUPO AEROPUERTO DEL PACIFIC PAC	PAC	9,417	$2.3m9.4k shares
EXELON CORP EXC	EXC	46,355	$2.3m46.4k shares
ECOLAB INC ECL	ECL	8,131	$2.2m8.1k shares
LUMENTUM HLDGS INC LITE	LITE	3,006	$2.1m3.0k shares
BRP INC DOO	DOO	28,005	$2.0m28.0k shares
INSTALLED BLDG PRODS INC IBP	IBP	6,272	$1.7m6.3k shares
REPUBLIC SVCS INC RSG	RSG	7,121	$1.6m7.1k shares
CACI INTL INC CACI	CACI	2,045	$1.1m2.0k shares
TRANSOCEAN LTD RIG	RIG	135,855	$900.7k135.9k shares
VNET GROUP INC VNET	VNET	77,265	$648.3k77.3k shares
MERCADOLIBRE INC MELI	MELI	362	$625.9k362 shares
MCDONALDS CORP MCD	MCD	1,617	$502.5k1.6k shares
QXO INC QXO	QXO	25,160	$488.6k25.2k shares
MASTERCARD INCORPORATED MA	MA	954	$476.7k954 shares
WELLS FARGO CO NEW WFC	WFC	5,478	$436.1k5.5k shares
NEWMONT CORP NEM	NEM	3,704	$401.0k3.7k shares