| # | Security | Value | Shares | % Port | Change | Δ Shares |
|---|---|---|---|---|---|---|
| 1 | ISHARES TR 20 YR TR BD ETF | $348.2M | 4.02M | 13.3% | NEW | — |
| 2 | STATE STR SPDR S&P 500 ETF T TR UNIT | $265.2M | 407.8K | 10.1% | NEW | — |
| 3 | ISHARES TR IBOXX HI YD ETF | $249.0M | 3.13M | 9.5% | ADDED | +1.19M |
| 4 | INVESCO QQQ TR UNIT SER 1 | $172.1M | 298.1K | 6.6% | REDUCED | -163,100 |
| 5 | ISHARES TR IBOXX INV CP ETF | $117.7M | 1.08M | 4.5% | NEW | — |
| 6 | SPDR GOLD TR GOLD SHS | $85.6M | 199.0K | 3.3% | REDUCED | -1,049,200 |
| 7 | DESCARTES SYS GROUP INC COM | $85.1M | 1.19M | 3.2% | ADDED | +1.08M |
| 8 | ISHARES TR RUSSELL 2000 ETF | $81.8M | 330.0K | 3.1% | ADDED | +274.8K |
| 9 | ALAMOS GOLD INC COM CL A | $61.2M | 1.38M | 2.3% | ADDED | +437.7K |
| 10 | SPDR GOLD TR GOLD SHS | $43.0M | 100.0K | 1.6% | REDUCED | -1,148,200 |
| 11 | KINROSS GOLD CORP COM | $39.7M | 1.30M | 1.5% | REDUCED | -812,808 |
| 12 | CENTERRA GOLD INC COM | $39.2M | 2.20M | 1.5% | REDUCED | -1,499,419 |
| 13 | IAMGOLD CORP COM | $36.5M | 1.94M | 1.4% | REDUCED | -663,333 |
| 14 | SKEENA RES LTD NEW COM | $33.5M | 1.13M | 1.3% | REDUCED | -399,319 |
| 15 | SUNCOR ENERGY INC NEW COM | $33.3M | 503.0K | 1.3% | NEW | — |
| 16 | SPX TECHNOLOGIES INC COM | $31.1M | 155.6K | 1.2% | ADDED | +120.0K |
| 17 | WELLTOWER INC COM | $30.2M | 152.9K | 1.2% | ADDED | +75.2K |
| 18 | BOYD GROUP SERVICES INC COM | $29.7M | 231.9K | 1.1% | REDUCED | -59,981 |
| 19 | CENOVUS ENERGY INC COM | $28.4M | 1.07M | 1.1% | NEW | — |
| 20 | CANADIAN NATL RY CO COM | $27.7M | 269.3K | 1.1% | ADDED | +84.9K |
| 21 | CRANE COMPANY COMMON STOCK | $27.6M | 161.3K | 1.1% | ADDED | +11.7K |
| 22 | NVENT ELEC PLC SHS | $25.8M | 217.9K | 1.0% | ADDED | +214.6K |
| 23 | MARTIN MARIETTA MATLS INC COM | $25.7M | 43.6K | 1.0% | ADDED | +21.3K |
| 24 | AGNICO EAGLE MINES LTD COM | $24.6M | 121.1K | 0.9% | REDUCED | -45,739 |
| 25 | CAE INC COM | $23.2M | 889.2K | 0.9% | ADDED | +789.2K |
Holdings data sourced from SEC EDGAR 13F-HR filings. Updated quarterly, approximately 45 days after quarter end. All data is public domain.
Last filed: May 11, 2026