Data as of Q4 2025 (Dec 31, 2025)·Next filing deadline: May 15, 2026

Hillsdale Investment Management Inc.

•CIK: 1368465•Filing: Q4 2025

Hillsdale Investment Management Inc., led by the renowned investor David Herro, is known for its concentrated, high-conviction equity strategy, currently managing $3.6 billion across 652 positions. The fund recently made notable moves by adding QSR and ERO, which have surged by 914% and 884% respectively, while exiting positions in GAU and FSV.

Total AUM

$3.6B

QoQ Performance

+9.4%

Positions

651

Top 10 Concentration

28.4%

Latest Filing

Q4 2025

Top Holdings Allocation

RY4.6%

CM3.1%

TD3.0%

BNS2.4%

SHOP2.1%

EFX2.0%

AEM1.9%

BMO1.7%

📈 Biggest Buys

Ero Copper Corp.

+602.9%

1.3% of portfolio

Suncor Energy Inc.

+217.4%

1.0% of portfolio

Restaurant Brands International Inc

+851.5%

0.7% of portfolio

Pembina Pipeline Corp

+187.4%

1.0% of portfolio

Precision Drilling Corp

NEW

0.6% of portfolio

📉 Biggest Sells

Aris Mining Corp

-50.4%

0.9% of portfolio

New Gold Inc

-39.0%

0.8% of portfolio

SSR Mining Inc

-47.3%

0.6% of portfolio

First Majestic Silver Corp

-38.6%

0.8% of portfolio

Cameco Corp

-72.4%

0.2% of portfolio

Sector Breakdown

Other88.7%

Technology6.6%

Consumer2.1%

Financial2.0%

Healthcare0.4%

Industrial0.2%

🚪 Exited Positionssold since Q3 2025

Stantec Inc

SOLD

$13.9M

Galiano Gold Inc

SOLD

$11.5M

FirstService Corp

SOLD

$10.0M

Netflix Inc

SOLD

$8.4M

Adeia Inc

SOLD

$8.2M

+452 more exited positions

Changes from Q3 2025

NEW22 new positions

↑79 increased

↓92 decreased

Historical Filings

Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023

📌 Top Holdings

Royal Bank of Canada

Canadian Imperial Bank of Commerce

Toronto-Dominion Bank (The)

The Bank of Nova Scotia

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