Hillsdale's Canadian Investment Surge
Hillsdale Investment Management significantly increases holdings in top Canadian banks and resource firms
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CNQ saw broad hedged-investor activity beyond Hillsdale's 58.8% increase: Bleakley Financial Group LLC boosted its stake by 69.0% to 132,059 shares; J. Safra Sarasin Holding AG opened a new position; Ferguson Wellman Capital Management Inc. opened a new position; Candriam S.C.A. lifted its stake by 7.9% to 25,574 shares; hedge funds overall own 74.03% of CNQ stock.
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Barrick Mining: Hillsdale increased its stake by 13.9% to 1,327,142 shares; stock valued at $54,223,000. Major hedge funds ramped up holdings: FIL Ltd increased to 30,099,422 shares (up 85.3%); Van ECK Associates Corp held 55,423,240 shares; Ameriprise Financial opened a new stake; CPP Investment Board opened a new stake; Mackenzie Financial Corp increased to 20,591,745 shares; hedge funds own 90.82% of Barrick stock.
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TD: Hillsdale increased its TD stake by 3.0% to 1,201,500 shares, about 3.1% of its portfolio, making TD its 3rd largest holding; value $112,185,000. Institutional ownership accounted for about 52.37% of TD's stock; other investors added to positions including Harvest Fund Management, Brown Lisle Cummings Inc., Cornerstone Planning Group LLC, and Bayban opened a new position.
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CM: Hillsdale raised its Canadian Imperial Bank of Commerce stake by 1.2% to 1,241,867 shares, ~3.2% of its portfolio, making CM the 2nd largest holding; value about $117,668,000. Norges Bank opened a new stake in CM in Q4; Mackenzie Financial Corp increased its CM stake 69.3% in Q4; FIL Ltd 26.1% higher; Manufacturers Life Insurance Company up 24.0%; Morgan Stanley up 39.5%; about 49.88% of CM stock is owned by institutional investors.
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RY: Hillsdale lifted its Royal Bank of Canada stake by 10.3% to 1,065,340 shares, about 4.7% of its portfolio, making RBC its largest holding; holdings valued at about $172,177,000. In addition, other big institutions were active in RBC, with AQR Capital Management increasing its RBC stake by 60.9% in Q1, and investors like Sivia Capital Partners, Baird Financial Group, and Cerity Partners also adding to their positions.
Hillsdale Investment Management Inc. made a bold push into Canadian equities in the first quarter, expanding stakes in the country's biggest banks and top mining stocks. The Toronto-based fund's largest holding is now Royal Bank of Canada, with a position worth roughly $172.2 million, according to Watchlist News.
The moves signal growing confidence in Canada's financial and natural resources sectors. Hillsdale boosted five major positions — spanning banks, gold mining, and oil — by anywhere from 1.2% to 58.8%.
Royal Bank and CIBC Lead Hillsdale's Banking Bet
Royal Bank of Canada (RY) sits at the top of Hillsdale's portfolio after the fund raised its stake by 10.3% to 1,065,340 shares. That position is now worth about $172.2 million and makes up 4.7% of the fund's total holdings, according to Watchlist News. AQR Capital Management also moved aggressively into RBC in Q1, lifting its own stake by 60.9%.
Canadian Imperial Bank of Commerce (CM) ranks as Hillsdale's second-largest holding. The fund added shares to reach 1,241,867 total, a 1.2% increase worth about $117.7 million. Institutional investors own roughly 49.88% of CM's stock. Mackenzie Financial Corp lifted its CM stake by 69.3% in Q4, and Morgan Stanley raised its position by 39.5%.
TD Bank Rounds Out Hillsdale's Top Three Holdings
Toronto-Dominion Bank (TD) is Hillsdale's third-largest holding after a 3.0% increase to 1,201,500 shares. The position is worth roughly $112.2 million and accounts for about 3.1% of the fund's portfolio, according to Watchlist News. Institutions overall own about 52.37% of TD's stock.
Several other investors also added to their TD positions in the quarter. Harvest Fund Management, Brown Lisle Cummings Inc., and Cornerstone Planning Group LLC all increased their stakes. Bayban opened a brand-new position in the bank.
Barrick Mining Surge Draws Wide Hedge Fund Interest
Hillsdale raised its Barrick Mining Corporation (GOLD) stake by 13.9% to 1,327,142 shares, worth about $54.2 million. That makes Barrick the fund's 11th largest holding. Hedge funds as a group own 90.82% of Barrick's stock — one of the highest institutional ownership rates among major miners, per Watchlist News.
Other big players moved into Barrick heavily. FIL Ltd grew its position by 85.3% to over 30 million shares. Van Eck Associates Corp held more than 55 million shares. Both Ameriprise Financial and CPP Investment Board opened brand-new stakes in the quarter.
Canadian Natural Resources Sees Broad Buying Activity
Hillsdale's biggest percentage jump came in Canadian Natural Resources (CNQ), where it raised its position by 58.8% to 775,589 shares. That stake is now worth roughly $37.8 million, placing CNQ at number 23 in the fund's holdings, according to Watchlist News. Hedge funds collectively own 74.03% of CNQ's outstanding stock.
Hillsdale was far from alone. Bleakley Financial Group LLC boosted its CNQ stake by 69.0% to 132,059 shares. J. Safra Sarasin Holding AG and Ferguson Wellman Capital Management Inc. both opened brand-new positions. Candriam S.C.A. lifted its stake by 7.9% to 25,574 shares.
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