SEC 13F Intelligence

Managers / Q2 2021 · view latest →

Galibier Capital Management Ltd.

CIK 0001765768 · 80 RICHMOND STREET WEST, SUITE 1100, TORONTO, M5H 2A4 · 416.867.1234

Reported Value
$744M
Q2 2021
Positions
42
Filings on Record
28
2019–present window
Filed
Jul 20, 2021
original filing

Summary

Galibier Capital Management Ltd. reported $744M in U.S.-listed holdings across 42 positions for Q2 2021.

Its largest position, CM, represents 10.2% of the portfolio.

Compared with Q1 2021, the fund opened 3 new positions and exited 0.

Portfolio Metrics

Turnover
+4.6%
vs prior filed quarter
Top-10 Concentration
+77.9%
share of reported value
Largest Position
+10.2%
Canadian Imperial Bank Of Commerce

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. 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: $146MQ4 ’18Q1 ’19: $168MQ2 ’19: $220MQ3 ’19: $251MQ4 ’19: $315MQ4 ’19Q1 ’20: $230MQ2 ’20: $312MQ3 ’20: $425MQ4 ’20: $578MQ4 ’20Q1 ’21: $666MQ2 ’21: $744MQ3 ’21: $730MQ4 ’21: $697MQ4 ’21Q1 ’22: $744MQ2 ’22: $528MQ3 ’22: $496MQ4 ’22: $493MQ4 ’22Q1 ’23: $423MQ2 ’23: $436MQ3 ’23: $450MQ4 ’23: $386MQ4 ’23Q1 ’24: $418MQ2 ’24: $402MQ3 ’24: $443MQ4 ’24: $350MQ4 ’24Q1 ’25: $321MQ2 ’25: $333MQ3 ’25: $300Mfilingsflow.com

Portfolio Composition

By security type
Common Stock: 96.2%Other: 3.0%ADR: 0.7%ETP: 0.1%Equity WRT: 0.0%
  • Common Stock · 96.2% · $716M
  • Other · 3.0% · $23M
  • ADR · 0.7% · $5M
  • ETP · 0.1% · $483,000
  • Equity WRT · 0.0% · $219,000

Quarter-over-Quarter Changes full breakdown →

vs Q1 2021 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
CVECENOVUS ENERGY INCNEW+4.58M4.58M+$44M$44M
VFCVF CORPNEW+250.0K250.0K+$21M$21M
CVE/WSCENOVUS ENERGY INCNEW+40.4K40.4K+$219,000$219,000
EMREMERSON ELECTRIC COTRIMMED−82.1K9.7K−$7M$931,000
BUDANHEUSER-BUSCH INBEV NVTRIMMED−11.5K12.8K−$609,000$919,000
WFGWEST FRASER TIMBER CO LTDTRIMMED−51.4K125.6K−$4M$9M
OSKOSHKOSH CORP.TRIMMED−7.6K32.7K−$710,000$4M
BRK/BBERKSHIRE HATHAWAY INC.TRIMMED−8816.3K−$84,000$2M

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

Holdings — Q2 2021

40 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1CMCANADIAN IMPERIAL BANK OF COMMERCEhistory →COM10.22%$76M666.9K
2NTRNUTRIEN LTDhistory →COM9.50%$71M1.16M
3MFCMANULIFE FINANCIAL CORPhistory →COM9.10%$68M3.43M
4NMI1EURKIRKLAND LAKE GOLD LTDhistory →COM9.02%$67M1.74M
5RCI/BROGERS COMMUNICATIONS INC CLASS Bhistory →CL B8.60%$64M1.20M
6QSRRESTAURANT BRANDS INTERNATIONAL INC.history →COM7.74%$58M892.3K
7WCNWASTE CONNECTIONS INChistory →COM6.55%$49M407.5K
8CVECENOVUS ENERGY INCCOM · *W EXP 01/01/20265.92%$44M4.62M
9GIB/ACGI INChistory →CL A SUB VTG5.64%$42M461.8K
10GILGILDAN ACTIVEWEAR INChistory →COM5.60%$42M1.13M
11BNSBANK OF NOVA SCOTIAhistory →COM4.53%$34M517.9K
12ENBENBRIDGE INChistory →COM4.15%$31M770.7K
13VFCVF CORPhistory →COM2.76%$21M250.0K
14GLAXOSMITHKLINE PLCADR2.75%$20M512.8K
15BDXBECTON DICKINSON AND COhistory →COM2.14%$16M65.4K
16WFGWEST FRASER TIMBER CO LTDhistory →COM1.21%$9M125.6K
17OSKOSHKOSH CORP.COM0.55%$4M32.7K
18HSICHENRY SCHEIN INC.COM0.48%$4M48.1K
19FLRFLUOR CORPCOM0.47%$3M196.7K
20AZNNASTRAZENECA PLCADR0.24%$2M29.3K
21BRK/BBERKSHIRE HATHAWAY INC.CL B0.23%$2M6.3K
22GOOGALPHABET INCCAP STK CL C · CAP STK CL A0.22%$2M672
23CSCOCISCO SYSTEMS INCCOM0.22%$2M30.5K
24MEDTRONIC PLCSHS0.19%$1M11.2K
25BABAALIBABA GROUP HOLDINGADS0.18%$1M6.0K
26PTS1EURPOINTS INTERNATIONAL LTDCOM0.18%$1M78.3K
27RTXRAYTHEON TECHNOLOGOIES CORPCOM0.17%$1M14.8K
28CTSHCOGNIZANT TECH SOLUTIONSCL A0.15%$1M16.6K
29INTCINTEL CORPCOM0.15%$1M20.5K
30TMOTHERMO FISHER SCIENTIFIC INCCOM0.15%$1M2.2K
31JPMJPMORGAN CHASE & COCOM0.14%$1M6.8K
32VOYAVOYA FINANCIAL INC.COM0.13%$967,00015.7K
33EMREMERSON ELECTRIC COCOM0.13%$931,0009.7K
34BUDANHEUSER-BUSCH INBEV NVADR0.12%$919,00012.8K
35TFCTRUIST FINANCIAL CORPCOM0.11%$841,00015.1K
36INGING GROEP NVADR0.11%$835,00063.0K
37UNILEVER PLCSPON ADR NEW0.11%$784,00013.4K
38CLCOLGATE PALMOLIVE COCOM0.07%$488,0006.0K
39SPDR SER TRBLOOMBERG BRCLYS0.03%$242,0002.2K
40ISHARESIBOXX HI YD ETF0.03%$241,0002.7K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q3 2025$300M38Oct 21, 202513F-HRchanges · EDGAR ↗
Q2 2025$333M38Aug 7, 202513F-HRchanges · EDGAR ↗
Q1 2025$321M37Apr 30, 202513F-HRchanges · EDGAR ↗
Q4 2024$350M37Jan 15, 202513F-HRchanges · EDGAR ↗
Q3 2024$443M43Oct 25, 202413F-HRchanges · EDGAR ↗
Q2 2024$402M42Jul 26, 202413F-HRchanges · EDGAR ↗
Q1 2024$418M40Apr 16, 202413F-HRchanges · EDGAR ↗
Q4 2023$386M36Jan 23, 202413F-HRchanges · EDGAR ↗
Q3 2023$450M38Oct 23, 202313F-HRchanges · EDGAR ↗
Q2 2023$436M36Jul 24, 202313F-HRchanges · EDGAR ↗
Q1 2023$423M39May 3, 202313F-HRchanges · EDGAR ↗
Q4 2022$493M43Jan 26, 202313F-HRchanges · EDGAR ↗
Q3 2022$496M41Oct 20, 202213F-HRchanges · EDGAR ↗
Q2 2022$528M40Jul 15, 202213F-HRchanges · EDGAR ↗
Q1 2022$744M42Apr 28, 202213F-HRchanges · EDGAR ↗
Q4 2021$697M42Feb 8, 202213F-HRchanges · EDGAR ↗
Q3 2021$730M42Oct 20, 202113F-HRchanges · EDGAR ↗
Q2 2021$744M42Jul 20, 202113F-HRchanges · EDGAR ↗
Q1 2021$666M39May 5, 202113F-HRchanges · EDGAR ↗
Q4 2020$578M38Jan 19, 202113F-HRchanges · EDGAR ↗
Q3 2020$425M39Oct 26, 202013F-HRchanges · EDGAR ↗
Q2 2020$312M36Aug 5, 202013F-HRchanges · EDGAR ↗
Q1 2020$230M39Apr 21, 202013F-HRchanges · EDGAR ↗
Q4 2019$315M35Jan 14, 202013F-HRchanges · EDGAR ↗
Q3 2019$251M31Nov 8, 201913F-HRchanges · EDGAR ↗
Q2 2019$220M31Aug 2, 201913F-HRchanges · EDGAR ↗
Q1 2019$168M31May 10, 201913F-HRchanges · EDGAR ↗
Q4 2018$146M30Feb 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 ↗.