The Canada Portfolio continues to demonstrate resilience and growth, with several positions delivering double-digit returns since their inception. As of July 6, 2026, the portfolio holds five positions, all listed on the Toronto Stock Exchange (TSX), adhering to our regional focus.
Performance Highlights
- MDA Space Ltd. (MDA) – Up 8.97% since pick on June 8. The company benefits from strong demand in space robotics and satellite systems.
- Hammond Power Solutions Inc. (HPS.A:CA) – Up 12.45% since pick on June 15. Continued momentum in electrification and power quality solutions drives performance.
- Lightspeed Commerce Inc. (LSPD) – Up 13.09% since pick on June 22. The payments and commerce platform is gaining traction with merchants.
- Nuvei Corporation (NVDA) – Up 1.57% since pick on June 29. Modest gains as the payment technology sector remains stable.
- Shopify Inc. (SHOP) – Down 2.79% since pick on July 6. The recent pullback is viewed as a short-term fluctuation; fundamentals remain intact.
Portfolio Positioning
The portfolio is diversified across aerospace, industrial electrification, commerce technology, and payments. No single position dominates, and sector exposure is balanced. All positions are within their minimum holding periods (180 days) and are protected from closure.
Risk Considerations
Key risks include concentration in Canadian equities, exposure to technology and industrial sectors, and potential volatility from global economic conditions. The portfolio remains disciplined to the TSX exchange, avoiding cross-border exposure.
Outlook
We continue to monitor each position for thesis validation. No changes are warranted at this time. The recent addition of Shopify provides exposure to e-commerce, and its dip may present a long-term opportunity.
Disclaimer: This is not investment advice. Past performance is not indicative of future results. All investments carry risk, including loss of principal. Consult a financial advisor before making investment decisions.