SEC 13F Intelligence

Managers / Q1 2025 · view latest →

BAROMETER CAPITAL MANAGEMENT INC.

CIK 0001536890 · 181 BAY STREET, SUITE 3220, TORONTO, M5J 2T3 · 416 601 1683

Reported Value
$269M
Q1 2025
Positions
147
Filings on Record
30
2019–present window
Filed
May 14, 2025
original filing

Summary

Barometer Capital Management Inc. reported $269M in U.S.-listed holdings across 147 positions for Q1 2025.

Its largest position, AEM, represents 8.8% of the portfolio.

Compared with Q4 2024, the fund opened 71 new positions and exited 58.

Portfolio Metrics

Turnover
+66.7%
vs prior filed quarter
Top-10 Concentration
+48.8%
share of reported value
Largest Position
+8.8%
Agnico Eagle Mines
New / Exited
71 / 58
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $491MQ4 ’18Q1 ’19: $878MQ2 ’19: $769MQ3 ’19: $929MQ4 ’19: $633MQ4 ’19Q2 ’20: $535MQ3 ’20: $492MQ4 ’20: $534MQ1 ’21: $603MQ1 ’21Q2 ’21: $523MQ3 ’21: $518MQ4 ’21: $595MQ1 ’22: $550MQ1 ’22Q2 ’22: $244MQ3 ’22: $242MQ1 ’23: $390MQ2 ’23: $375MQ2 ’23Q3 ’23: $317MQ4 ’23: $353MQ1 ’24: $386MQ2 ’24: $259MQ2 ’24Q3 ’24: $347MQ4 ’24: $250MQ1 ’25: $269MQ2 ’25: $362MQ2 ’25Q3 ’25: $437MQ4 ’25: $415MQ1 ’26: $292Mfilingsflow.com

Portfolio Composition

By security type
Common Stock: 82.5%ADR: 13.1%ETP: 3.9%Other: 0.2%NY Reg Shrs: 0.2%Closed-End Fund: 0.1%
  • Common Stock · 82.5% · $221M
  • ADR · 13.1% · $35M
  • ETP · 3.9% · $11M
  • Other · 0.2% · $540,594
  • NY Reg Shrs · 0.2% · $441,334
  • Closed-End Fund · 0.1% · $358,253

Quarter-over-Quarter Changes full breakdown →

vs Q4 2024 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
AEMAgnico Eagle Mines LtdNEW+151.3K151.3K+$24M$24M
KGCKinross Gold CorpNEW+796.6K796.6K+$14M$14M
ENBEnbridge IncNEW+212.2K212.2K+$14M$14M
BMOBank of MontrealNEW+81.7K81.7K+$11M$11M
WPMWheaton Precious Metals CorpNEW+95.2K95.2K+$11M$11M
LNGCheniere Energy IncNEW+45.4K45.4K+$10M$10M
GFLGFL Environmental IncNEW+118.6K118.6K+$8M$8M
EXEExpand Energy CorpNEW+69.1K69.1K+$8M$8M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q1 2025

146 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1AEMAgnico Eagle Mines Ltdhistory →Common8.79%$24M151.3K
2KGCKinross Gold Corphistory →Common5.38%$14M796.6K
3ENBEnbridge Inchistory →Common5.03%$14M212.2K
4JPMJPMorgan Chase & Cohistory →Common4.78%$13M52.6K
5HWMHowmet Aerospace Inchistory →Common4.55%$12M94.3K
6METAMeta Platforms Inchistory →Common4.21%$11M19.6K
7BMOBank of Montrealhistory →Common4.13%$11M81.7K
8Sprott Physical Gold TrustETP4.08%$11M455.7K
9WPMWheaton Precious Metals Corphistory →Common3.95%$11M95.2K
10LNGCheniere Energy Inchistory →Common3.90%$10M45.4K
11MFCManulife Financial Corphistory →Common3.72%$10M222.6K
12TRPTC Energy Corphistory →Common3.68%$10M145.6K
13WCNWaste Connections Inchistory →Common3.41%$9M32.7K
14VVisa Inchistory →Common3.37%$9M25.8K
15GFLGFL Environmental Inchistory →Common2.91%$8M118.6K
16EXEExpand Energy Corphistory →Common2.87%$8M69.1K
17BKRBaker Hughes Cohistory →Common2.51%$7M154.4K
18AGIAlamos Gold Inchistory →Common2.34%$6M163.1K
19GSGoldman Sachs Group Inc/Thehistory →Common2.32%$6M11.4K
20NFLXNetflix Inchistory →Common1.52%$4M4.4K
21EMBJEmbraer SAhistory →Common1.43%$4M83.0K
22BSXBoston Scientific Corphistory →Common1.42%$4M37.8K
23SESea Ltdhistory →Common1.25%$3M25.7K
24UUnity Software Inchistory →Common1.08%$3M148.0K
25DEDeere & CoCommon0.96%$3M5.5K
26BVNCia de Minas Buenaventura SAACommon0.67%$2M117.6K
27KCKingsoft Cloud Holdings LtdCommon0.52%$1M96.6K
28Sprott Physical Silver TrustETP0.43%$1M100.2K
29GDSGDS Holdings LtdCommon0.38%$1M40.6K
30HMYHarmony Gold Mining Co LtdCommon0.35%$940,04964.1K
31FNVFranco-Nevada CorpCommon0.28%$741,2313.3K
32XPEVXPeng IncCommon0.27%$725,20035.0K
33BABAAlibaba Group Holding LtdCommon0.27%$714,5715.4K
34AMLPAlerian MLP ETFETP0.26%$691,84113.3K
35GGALGrupo Financiero Galicia SACommon0.26%$690,89712.7K
36EUFNiShares MSCI Europe Financials ETFETP0.26%$690,88324.3K
37QFINQifu Technology IncCommon0.26%$689,34215.6K
38EZUiShares MSCI Eurozone ETFETP0.23%$628,35011.8K
39ZLABZai Lab LtdCommon0.23%$625,22217.3K
40KIESPDR S&P Insurance ETFETP0.23%$620,43310.3K
41BMABanco Macro SACommon0.22%$601,8908.0K
42GDXVanEck Gold Miners ETF/USAETP0.21%$576,92412.6K
43XLFFinancial Select Sector SPDR FundETP0.21%$570,32511.4K
44MFGMizuho Financial Group IncCommon0.21%$551,948100.2K
45VRNAVerona Pharma PLCCommon0.20%$546,0148.6K
46ProShares UltraPro Short QQQETP0.20%$540,59414.1K
47GDXJVanEck Junior Gold Miners ETFETP0.19%$509,0808.9K
48TCOMTrip.com Group LtdCommon0.19%$503,9997.9K
49EWJiShares MSCI Japan ETFETP0.19%$500,4887.3K
50SILGlobal X Silver Miners ETFETP0.19%$497,07012.6K
51CHIQGlobal X MSCI China Consumer Discretionary ETFETP0.18%$495,72622.2K
52KraneShares CSI China Internet ETFETP0.18%$492,23114.1K
53SILJAmplify Junior Silver Miners ETFETP0.18%$490,86040.5K
54FUTUFutu Holdings LtdCommon0.18%$486,9814.8K
55PSOPearson PLCCommon0.18%$483,67830.2K
56BBVABanco Bilbao Vizcaya Argentaria SACommon0.18%$481,42336.8K
57SMFGSumitomo Mitsui Financial Group IncCommon0.18%$477,00330.9K
58MUFGMitsubishi UFJ Financial Group IncCommon0.17%$463,42034.0K
59BILIBilibili IncCommon0.16%$435,70822.8K
60COPJSprott Junior Copper Miners ETFETP0.15%$414,92020.5K
61AADRAdvisorShares Dorsey Wright ADR ETFETP0.15%$401,7605.4K
62UBSUBS Group AGCommon0.15%$400,40713.5K
63JDJD.com IncCommon0.15%$399,42410.0K
64ENICEnel Chile SACommon0.15%$398,947122.0K
65TSMTaiwan Semiconductor Manufacturing Co LtdCommon0.15%$398,8982.4K
66CMCanadian Imperial Bank of CommerceCommon0.15%$389,6934.8K
67EPIWisdomTree India Earnings FundCommon0.14%$384,6488.8K
68MOMOHello Group IncCommon0.14%$379,57063.6K
69EWGiShares MSCI Germany ETFETP0.14%$378,21610.2K
70TDToronto-Dominion Bank/TheCommon0.14%$374,4974.4K
71BIDUBaidu IncCommon0.14%$364,8994.0K
72TTENTotalEnergies SECommon0.13%$361,5525.6K
73JOFJapan Smaller Capitalization Fund IncETP0.13%$358,25342.7K
74ITAiShares U.S. Aerospace & Defense ETFETP0.13%$356,7232.3K
75FXIiShares China Large-Cap ETFETP0.13%$351,2329.8K
76BNSBank of Nova Scotia/TheCommon0.13%$349,6205.2K
77PAMPampa Energia SACommon0.13%$347,4004.5K
78Galapagos NVCommon0.13%$339,54713.5K
79IQiQIYI IncCommon0.12%$332,898147.3K
80EDUNew Oriental Education & Technology Group IncCommon0.12%$325,1086.8K
81YPFYPF SACommon0.12%$322,3689.2K
82TKCTurkcell Iletisim Hizmetleri ASCommon0.12%$322,29651.8K
83PHGKoninklijke Philips NVCommon0.12%$318,17313.0K
84PUKPrudential PLCCommon0.12%$313,90014.6K
85IGFiShares Global Infrastructure ETFETP0.12%$311,6195.7K
86VODVodafone Group PLCCommon0.11%$307,33632.8K
87SAPSAP SECommon0.11%$292,7261.1K
88WITWipro LtdCommon0.11%$291,61895.3K
89BNTXBioNTech SECommon0.11%$287,7503.2K
90ECEcopetrol SACommon0.10%$281,67929.9K
91WBWeibo CorpCommon0.10%$278,17032.8K
92TFPMTriple Flag Precious Metals CorpCommon0.10%$272,5479.9K
93ASAIYSendas Distribuidora S/ACommon0.10%$272,13440.2K
94SKMSK Telecom Co LtdCommon0.10%$267,87612.6K
95COPXGlobal X Copper Miners ETFETP0.10%$265,6766.8K
96JKSJinkoSolar Holding Co LtdCommon0.10%$264,24114.2K
97RLXRLX Technology IncCommon0.10%$262,824139.8K
98NWGNatWest Group PLCCommon0.10%$261,33421.9K
99BBDBanco Bradesco SACommon0.10%$261,024119.5K
100SQMSociedad Quimica y Minera de Chile SACommon0.09%$254,2726.4K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$292M114May 12, 202613F-HRchanges · EDGAR ↗
Q4 2025$415M131Feb 12, 202613F-HRchanges · EDGAR ↗
Q3 2025$437M174Nov 13, 202513F-HRchanges · EDGAR ↗
Q2 2025$362M180Aug 14, 202513F-HRchanges · EDGAR ↗
Q1 2025$269M147May 14, 202513F-HRchanges · EDGAR ↗
Q4 2024$250M182Feb 13, 202513F-HRchanges · EDGAR ↗
Q3 2024$347M161Nov 14, 202413F-HRchanges · EDGAR ↗
Q2 2024$259M173Aug 9, 202413F-HRchanges · EDGAR ↗
Q1 2024$386M173May 8, 202413F-HRchanges · EDGAR ↗
Q4 2023$353M177Feb 14, 202413F-HRchanges · EDGAR ↗
Q3 2023$317M104Nov 8, 202313F-HRchanges · EDGAR ↗
Q2 2023$375M125Aug 11, 202313F-HRchanges · EDGAR ↗
Q1 2023$390M107May 11, 202313F-HRchanges · EDGAR ↗
Q4 2022Under review123Feb 13, 202313F-HRchanges · EDGAR ↗
Q3 2022$242M64Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$244M70Aug 15, 202213F-HRchanges · EDGAR ↗
Q1 2022$550M115May 13, 202213F-HRchanges · EDGAR ↗
Q4 2021$595M121Feb 14, 202213F-HRchanges · EDGAR ↗
Q3 2021$518M136Nov 12, 202113F-HRchanges · EDGAR ↗
Q2 2021$523M129Aug 13, 202113F-HRchanges · EDGAR ↗
Q1 2021$603M161May 10, 202113F-HRchanges · EDGAR ↗
Q4 2020$534M149Feb 9, 202113F-HRchanges · EDGAR ↗
Q3 2020$492M126Nov 12, 202013F-HRchanges · EDGAR ↗
Q2 2020$535M126Aug 12, 202013F-HRchanges · EDGAR ↗
Q1 2020Under review86May 13, 202013F-HRchanges · EDGAR ↗
Q4 2019$633M129Feb 10, 202013F-HRchanges · EDGAR ↗
Q3 2019$929M141Nov 12, 201913F-HRchanges · EDGAR ↗
Q2 2019$769M123Aug 13, 201913F-HRchanges · EDGAR ↗
Q1 2019$878M137Apr 18, 201913F-HRchanges · EDGAR ↗
Q4 2018$491M101Feb 12, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.