Portfolio Overview
The Canada Portfolio continues to focus on high-quality Canadian equities listed on the Toronto Stock Exchange. As of June 29, 2026, the portfolio holds four positions: MDA Space Ltd. (MDA), Hammond Power Solutions Inc. (HPS.A:CA), Lightspeed Commerce Inc. (LSPD), and Nuvei Corporation (NVDA). All positions remain within their minimum holding periods and are protected from early closure.
Performance Review
- MDA Space Ltd. (MDA): -0.65% return since pick. The stock has been relatively flat, reflecting a wait-and-see approach from investors amid space sector dynamics. No thesis change.
- Hammond Power Solutions Inc. (HPS.A:CA): +13.97% return. Strong performance driven by robust demand for power distribution equipment and positive earnings momentum.
- Lightspeed Commerce Inc. (LSPD): +9.47% return. Continued recovery in the commerce software space, supported by solid quarterly results and improved market sentiment.
- Nuvei Corporation (NVDA): +1.27% return. Recently added; modest gain as the market digests its payment technology outlook.
Risk & Concentration
The portfolio is diversified across four distinct sectors: aerospace & defense (MDA), electrical equipment (HPS.A), software (LSPD), and financial technology (NVDA). No single position dominates, and all are TSX-listed, maintaining the regional discipline. Currency risk is minimal as all holdings are CAD-denominated.
Outlook & Actions
No positions are recommended for closure this week. All holdings remain within their minimum holding periods and continue to align with the portfolio’s Canadian focus. We will monitor upcoming earnings reports and macroeconomic developments for any signs of thesis deterioration.
Disclaimer: This is not investment advice. Past performance does not guarantee future results. Always conduct your own research before making investment decisions.