MONTRUSCO BOLTON INVESTMENTS INC.
Reported holdings as of Q2 2026, from 31 quarterly filings.
Holdings
| Security | Ticker | Value | Shares | Weight | Weight change | Held | Change |
|---|---|---|---|---|---|---|---|
| NVIDIA CORPORATION | NVDA | $527.8M | 2,638,049 | -1.19pp | 12q | -27.9%-$204.4M | |
| ALPHABET INC | GOOGL | $390.8M | 1,093,614 | +0.09pp | 31q | -22.1%-$111.1M | |
| MICROSOFT CORP | MSFT | $381.0M | 1,021,431 | -0.90pp | 31q | -18.2%-$85.1M | |
| AMAZON COM INC | AMZN | $375.7M | 1,576,144 | +0.23pp | 31q | -13.6%-$59.2M | |
| JPMORGAN CHASE & CO | JPM | $302.7M | 924,638 | -0.70pp | 5q | -25.8%-$105.3M | |
| LAM RESEARCH CORP | LRCX | $291.0M | 671,482 | +2.36pp | 6q | -2.0%-$6.0M | |
| BROADCOM INC | AVGO | $240.8M | 637,407 | +0.89pp | 3q | +1.9%+$4.4M | |
| MASTERCARD INCORPORATED | MA | $240.5M | 468,356 | +0.15pp | 31q | -4.4%-$11.0M | |
| MICRON TECHNOLOGY INC | MU | $235.5M | 204,062 | - | new | NEW | |
| MONSTER BEVERAGE CORP NEW | MNST | $203.2M | 2,113,791 | -0.03pp | 8q | -28.6%-$81.4M | |
| DANAHER CORP DEL | DHR | $202.8M | 1,064,582 | -0.58pp | 31q | -20.6%-$52.7M | |
| IDEXX LABS INC | IDXX | $196.3M | 372,788 | +0.22pp | 6q | +9.0%+$16.1M | |
| META PLATFORMS INC | META | $188.5M | 334,610 | -0.64pp | 31q | -20.8%-$49.5M | |
| TAIWAN SEMICONDUCTOR MANUFAC | TSM | $173.3M | 362,899 | +0.23pp | 8q | -28.9%-$70.4M | |
| API GROUP CORP | APG | $171.6M | 4,051,726 | -0.12pp | 5q | -12.9%-$25.4M | |
| VALERO ENERGY CORP | VLO | $166.0M | 637,430 | -0.93pp | 13q | -31.9%-$77.8M | |
| WASTE CONNECTIONS INC | WCN | $162.5M | 974,830 | -1.82pp | 20q | -46.5%-$141.2M | |
| AMPHENOL CORP | APH | $156.8M | 889,016 | +0.64pp | 2q | -5.0%-$8.2M | |
| PUBLIC STORAGE | PSA | $139.7M | 438,832 | +0.11pp | 17q | -15.3%-$25.3M | |
| APPLE INC | AAPL | $131.9M | 455,851 | -0.33pp | 31q | -26.4%-$47.2M | |
| LINDE PLC | LIN | $125.9M | 242,597 | - | new | NEW | |
| UBER TECHNOLOGIES INC | UBER | $123.5M | 1,712,052 | -0.45pp | 7q | -23.7%-$38.3M | |
| CHIPOTLE MEXICAN GRILL INC | CMG | $105.2M | 3,095,354 | -0.61pp | 8q | -35.0%-$56.5M | |
| RYAN SPECIALTY HOLDINGS INC | RYAN | $101.5M | 2,689,031 | -0.43pp | 5q | -33.2%-$50.4M | |
| SYNOPSYS INC | SNPS | $90.4M | 202,769 | -0.24pp | 6q | -27.9%-$35.0M | |
| GE VERNOVA INC | GEV | $88.7M | 75,528 | - | new | NEW | |
| ZOETIS INC | ZTS | $79.9M | 1,111,383 | -1.66pp | 15q | -33.3%-$39.9M | |
| ROYAL BK CDA | RY | $52.4M | 252,983 | +0.13pp | 31q | -9.1%-$5.2M | |
| SUNBELT RENTALS HOLDINGS INC | SUNB | $48.3M | 662,699 | -0.12pp | 2q | -33.9%-$24.8M | |
| BLACKROCK INC | BLK | $41.7M | 43,323 | +0.08pp | 7q | +11.3%+$4.2M | |
| ASTRAZENECA PLC | AZN | $40.8M | 218,063 | - | new | NEW | |
| TORONTO DOMINION BK ONT | TD | $38.6M | 317,741 | +0.08pp | 31q | -13.6%-$6.1M | |
| TRACTOR SUPPLY CO | TSCO | $37.3M | 1,180,097 | -0.31pp | 5q | -8.6%-$3.5M | |
| FIRSTSERVICE CORP NEW | FSV | $36.2M | 254,333 | +0.01pp | 29q | -3.5%-$1.3M | |
| CHURCH & DWIGHT CO INC | CHD | $34.3M | 354,380 | - | new | NEW | |
| WALMART INC | WMT | $33.2M | 292,798 | -0.61pp | 15q | -50.9%-$34.4M | |
| CGI INC | GIB | $32.3M | 500,474 | -0.08pp | 30q | -4.4%-$1.5M | |
| TFI INTERNATIONAL INC | TFII | $30.4M | 211,254 | +0.08pp | 26q | -11.3%-$3.9M | |
| BANK MONTREAL MEDIUM | BMO | $30.4M | 171,898 | +0.05pp | 6q | -16.1%-$5.8M | |
| BANK NOVA SCOTIA B C | BNS | $26.6M | 305,579 | - | new | NEW | |
| BOYD GROUP SERVICES INC | BGSI | $23.2M | 245,132 | -0.18pp | 2q | -12.5%-$3.3M | |
| AGNICO EAGLE MINES LTD | AEM | $22.8M | 146,585 | -0.15pp | 5q | -9.9%-$2.5M | |
| CANADIAN NATL RY CO | CNI | $22.0M | 184,690 | +0.04pp | 31q | -5.5%-$1.3M | |
| TREKOR METALS LTD | $18.9M | 2,740,135 | - | new | NEW | ||
| BROOKFIELD ASSET MANAGMT LTD | BAM | $17.7M | 394,654 | +0.04pp | 15q | +14.3%+$2.2M | |
| DESCARTES SYS GROUP INC | DSGX | $17.4M | 251,870 | flat | 31q | +2.3%+$390.2K | |
| WHEATON PRECIOUS METALS CORP | WPM | $17.0M | 151,403 | -0.12pp | 12q | -22.7%-$5.0M | |
| BRP INC | DOO | $16.3M | 267,248 | +0.01pp | 5q | +20.5%+$2.8M | |
| AYA GOLD & SILVER INC | AYA | $15.9M | 841,081 | - | new | NEW | |
| SUN LIFE FINANCIAL INC. | SLF | $15.8M | 200,872 | +0.05pp | 31q | HELD | |
| SUNCOR ENERGY INC NEW | SU | $15.6M | 290,970 | -0.23pp | 6q | -39.2%-$10.1M | |
| RB GLOBAL INC | RBA | $14.8M | 127,548 | flat | 5q | -18.1%-$3.3M | |
| COLLIERS INTL GROUP INC | CIGI | $12.4M | 132,092 | -0.04pp | 30q | -9.1%-$1.2M | |
| CAE INC | CAE | $12.1M | 484,500 | -0.03pp | 5q | -14.3%-$2.0M | |
| GILDAN ACTIVEWEAR INC | GIL | $11.7M | 226,300 | -0.02pp | 5q | -7.4%-$927.7K | |
| CBIZ INC | CBZ | $11.0M | 342,221 | +0.03pp | 5q | +0.6%+$70.6K | |
| PEMBINA PIPELINE CORP | PBA | $10.4M | 224,122 | +0.01pp | 6q | HELD | |
| ENDEAVOUR SILVER CORP | EXK | $9.6M | 1,158,855 | -0.03pp | 4q | -9.6%-$1.0M | |
| CAMECO CORP | CCJ | $9.2M | 90,367 | -0.01pp | 3q | -3.8%-$366.0K | |
| MDA SPACE LTD | MDA | $8.4M | 202,497 | flat | 2q | -39.2%-$5.4M | |
| CORE & MAIN INC | CNM | $8.1M | 168,215 | flat | 5q | +0.6%+$48.3K | |
| BROOKFIELD WEALTH SOL LTD | BNT | $7.6M | 179,200 | -0.07pp | 8q | -41.7%-$5.5M | |
| OR ROYALTIES INC. | OR | $7.5M | 236,714 | -0.03pp | 2q | -7.0%-$566.8K | |
| OPEN TEXT CORP | OTEX | $7.0M | 318,459 | +0.04pp | 3q | +48.4%+$2.3M | |
| POOL CORP | POOL | $6.9M | 32,295 | +0.01pp | 5q | HELD | |
| INTEGRA RES CORP | ITRG | $6.3M | 2,820,394 | -0.01pp | 2q | +5.6%+$333.1K | |
| CENTERRA GOLD INC | CGAU | $6.0M | 381,557 | - | new | NEW | |
| ORLA MNG LTD NEW | ORLA | $4.6M | 468,027 | -0.02pp | 3q | +30.2%+$1.1M | |
| BROOKFIELD CORP | BN | $3.8M | 88,242 | flat | 15q | HELD | |
| SPS COMM INC | SPSC | $3.6M | 63,300 | flat | 4q | HELD | |
| ATS CORPORATION | ATS | $2.9M | 99,056 | -0.03pp | 5q | -42.1%-$2.1M | |
| SHOPIFY INC | SHOP | $2.7M | 23,843 | -0.01pp | 31q | -10.4%-$316.7K | |
| AMERICAS GOLD AND SILVER COR | USAS | $2.4M | 496,915 | -0.01pp | 2q | -9.7%-$251.0K | |
| SEA LTD | SE | $2.0M | 20,834 | - | new | NEW | |
| AERCAP HOLDINGS NV | AER | $1.5M | 10,395 | - | new | NEW | |
| EQUINOX GOLD CORP | EQX | $1.4M | 147,776 | -0.01pp | 3q | -0.9%-$13.2K | |
| PROCTER & GAMBLE CO | PG | $1.3M | 9,067 | flat | 31q | HELD | |
| ENERFLEX LTD | EFXT | $654.3K | 26,650 | - | new | NEW | |
| LIGHTSPEED COMMERCE INC | LSPD | $355.9K | 34,000 | flat | 5q | HELD | |
| CANADIAN PACIFIC KANSAS CITY | CP | $264.0K | 3,046 | flat | 13q | +1.4%+$3.7K |
By sector
Industry comes from the SIC code on each company's own SEC filings, which is self-reported and sometimes out of date. Derivative exposure is counted with the shares. Securities the SEC assigns no industry - funds, trusts, foreign issues - are shown as not classified rather than dropped.
| Sector | Value | Share |
|---|---|---|
| Semiconductors & Electronics | $1.4B | 22.2% |
| Software & IT Services | $1.1B | 16.8% |
| Business Services | $668.9M | 10.4% |
| Retail & Consumer | $563.0M | 8.7% |
| Banks & Lending | $450.6M | 7.0% |
| Biotech & Pharma | $316.9M | 4.9% |
| Industrials | $294.5M | 4.6% |
| Food, Drink & Tobacco | $203.2M | 3.1% |
| Instruments & Controls | $202.8M | 3.1% |
| Energy | $192.0M | 3.0% |
| Real Estate | $192.0M | 3.0% |
| Utilities | $162.5M | 2.5% |
| Other sectors | $672.9M | 10.4% |
| Not classified | $18.9M | 0.3% |
Quarter by quarter
| Quarter | Value | Positions | New | Added | Trimmed | Exited | Top 10 | Days to file |
|---|---|---|---|---|---|---|---|---|
| Q2 2026 | $6.5B | 80 | 12 | 12 | 49 | 4 | 49.4% | 21 |
| Q1 2026 | $6.6B | 72 | 7 | 17 | 42 | 8 | 51.8% | 28 |
| Q4 2025 | $8.0B | 73 | 5 | 20 | 46 | 10 | 54.3% | 29 |
| Q3 2025 | $8.6B | 78 | 5 | 25 | 43 | 2 | 55.3% | 43 |
| Q2 2025 | $9.0B | 75 | 21 | 26 | 27 | 8 | 55.3% | 25 |
| Q1 2025 | $7.6B | 62 | 7 | 20 | 32 | 6 | 54.3% | 32 |
| Q4 2024 | $8.3B | 61 | 3 | 13 | 44 | 4 | 57.2% | 23 |
| Q3 2024 | $9.5B | 62 | 6 | 23 | 31 | 2 | 58.5% | 43 |
| Q2 2024 | $9.5B | 58 | 1 | 26 | 31 | 1 | 52.7% | 24 |
| Q1 2024 | $9.4B | 58 | 3 | 23 | 29 | 7 | 53.0% | 30 |
| Q4 2023 | $8.1B | 62 | 6 | 31 | 25 | 6 | 48.7% | 39 |
| Q3 2023 | $6.9B | 62 | 3 | 32 | 24 | 7 | 48.5% | 39 |
| Q2 2023 | $6.5B | 66 | 10 | 31 | 23 | 7 | 45.8% | 34 |
| Q1 2023 | $4.8B | 63 | 1 | 29 | 32 | 4 | 41.6% | 39 |
| Q4 2022 | $4.3B | 66 | 8 | 27 | 27 | 4 | 38.2% | 27 |
| Q3 2022 | $3.8B | 62 | 1 | 27 | 24 | 0 | 38.8% | 38 |
| Q2 2022 | $3.8B | 61 | 2 | 26 | 32 | 4 | 37.3% | 39 |
| Q1 2022 | $4.3B | 63 | 4 | 34 | 24 | 2 | 35.0% | 40 |
| Q4 2021 | $4.2B | 61 | 3 | 22 | 33 | 5 | 37.1% | 38 |
| Q3 2021 | $3.7B | 63 | 3 | 28 | 31 | 4 | 42.1% | 43 |
| Q2 2021 | $3.3B | 64 | 4 | 19 | 40 | 4 | 43.3% | 48 |
| Q1 2021 | $3.1B | 64 | 7 | 34 | 23 | 2 | 39.3% | 42 |
| Q4 2020 | $2.3B | 59 | 3 | 26 | 30 | 3 | 37.0% | 47 |
| Q3 2020 | $2.0B | 59 | 1 | 45 | 9 | 4 | 35.7% | 40 |
| Q2 2020 | $1.7B | 62 | 2 | 30 | 29 | 2 | 35.9% | 43 |
| Q1 2020 | $1.3B | 62 | 6 | 24 | 32 | 5 | 47.4% | 44 |
| Q4 2019 | $1.7B | 61 | 1 | 17 | 36 | 3 | 45.6% | 42 |
| Q3 2019 | $1.7B | 63 | 2 | 37 | 20 | 2 | 46.5% | 39 |
| Q2 2019 | $1.5B | 63 | 5 | 20 | 21 | 7 | 46.7% | 36 |
| Q1 2019 | $1.6B | 65 | 6 | 25 | 33 | 7 | 44.8% | 40 |
| Q4 2018 | $1.5B | 66 | 0 | 0 | 0 | 0 | 48.7% | 43 |
Rows marked UNVERIFIED ID, PLACEHOLDER ID, TICKER AS ID or NON-CUSIP ID carry an identifier that is not a valid CUSIP. They are shown because the filer reported that money, but treat the security named with caution - hover the chip for what is wrong with it, and see the methodology.
Held counts consecutive filings in which this manager reported the position, and can reach further back than the quarters listed above: the tabs begin at Q4 2018 because earlier coverage is too sparse to describe a market, but tenure is counted over every filing we hold, some reaching to 2007. A position sold and later rebought starts again from one.
Weight change is the shift in this position's share of the whole book, in percentage points. It is the more useful column: when money flows into or out of a broad fund, almost every holding is bought or sold at once, so added and trimmed largely track flows. A weight that rose while the book shrank is a decision. Both compare with the previous quarter this filer reported, not the previous calendar quarter.