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Caldwell Investment Management Ltd.

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13F filer, CIK 1904373, TORONTO, Ontario, Canada

Caldwell Investment Management Ltd. reported $162,648,758 across 29 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-11. Its ten largest share positions make up 83.04% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001904373-26-000001

Period
2025-12-31
Reported value
$163M
Holdings
29
Top 10 weight
83.04%
New
9
Sold out
6

Largest buys vs the previous quarter

SecurityShares changeApprox. value
KKRnew+200,000$25.7M
EFXTnew+411,000$6.44M
MFCnew+105,000$3.83M
MIAXadded+75,000$3.42M
CLSnew+8,900$2.66M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
BANK OF AMERICA INCexited-350,000-$18.3M
STNexited-57,900-$6.12M
RBAexited-54,800-$5.89M
AGIexited-168,000-$5.82M
AEMreduced-11,500-$1.97M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q4 2025

Share positions as resolved from 13F-HR 0001904373-26-000001, largest first. % of portfolio is the value over $162,648,758, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
MIAXMIAMI INTL HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 663,810 shares; 2025Q4: 738,810 shares 738,810$33.7M20.74%+75,000Timeline
CBOECBOE GLOBAL MKTS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 110,000 shares; 2024Q4: 110,000 shares; 2025Q1: 114,400 shares; 2025Q2: 118,000 shares; 2025Q3: 118,000 shares; 2025Q4: 118,000 shares 118,000$30M18.45%0Timeline
KKRKKR & CO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 206,500 shares; 2024Q4: 212,400 shares; 2025Q1: 200,000 shares; 2025Q2: 200,000 shares; 2025Q3: not reported; 2025Q4: 200,000 shares 200,000$25.7M15.81%newTimeline
ICEINTERCONTINENTAL EXCHANGE INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 100,000 shares; 2024Q4: 100,000 shares; 2025Q1: 100,000 shares; 2025Q2: 100,000 shares; 2025Q3: 100,000 shares; 2025Q4: 100,000 shares 100,000$16.3M10.02%0Timeline
AEMAGNICO EAGLE MINES LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 78,300 shares; 2024Q4: 87,700 shares; 2025Q1: 79,100 shares; 2025Q2: 58,700 shares; 2025Q3: 58,700 shares; 2025Q4: 47,200 shares 47,200$8.1M4.98%-11,500Timeline
EFXTENERFLEX LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 411,000 shares 411,000$6.44M3.96%newTimeline
JPMJPMORGAN CHASE & COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 8,300 shares; 2024Q4: 8,300 shares; 2025Q1: 12,700 shares; 2025Q2: 12,700 shares; 2025Q3: 12,700 shares; 2025Q4: 12,700 shares 12,700$4.1M2.52%0Timeline
MFCMANULIFE FINL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 181,000 shares; 2024Q4: 181,000 shares; 2025Q1: 77,200 shares; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 105,000 shares 105,000$3.83M2.36%newTimeline
CCJCAMECO CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 63,000 shares; 2025Q1: 63,000 shares; 2025Q2: not reported; 2025Q3: 31,500 shares; 2025Q4: 41,000 shares 41,000$3.74M2.3%+9,500Timeline
ELVAELECTROVAYA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 398,000 shares; 2025Q4: 398,000 shares 398,000$3.08M1.9%0Timeline
BABAALIBABA GROUP HLDG LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 5,000 shares; 2025Q2: not reported; 2025Q3: 20,000 shares; 2025Q4: 20,000 shares 20,000$2.95M1.81%0Timeline
CLSCELESTICA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 8,900 shares 8,900$2.66M1.64%newTimeline
AMZNAMAZON COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 12,000 shares; 2024Q4: 12,000 shares; 2025Q1: 9,300 shares; 2025Q2: 9,300 shares; 2025Q3: 9,300 shares; 2025Q4: 9,300 shares 9,300$2.16M1.33%0Timeline
CVECENOVUS ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 110,800 shares; 2025Q4: 110,800 shares 110,800$1.89M1.16%0Timeline
MCKMCKESSON CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 1,200 shares; 2025Q2: not reported; 2025Q3: 2,200 shares; 2025Q4: 2,200 shares 2,200$1.82M1.12%0Timeline
IBKRINTERACTIVE BROKERS GROUP INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 6,800 shares; 2025Q1: 6,800 shares; 2025Q2: 30,400 shares; 2025Q3: 27,100 shares; 2025Q4: 27,100 shares 27,100$1.76M1.08%0Timeline
ATSATS CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 48,100 shares; 2024Q4: 48,100 shares; 2025Q1: 60,800 shares; 2025Q2: 60,800 shares; 2025Q3: 60,800 shares; 2025Q4: 60,800 shares 60,800$1.69M1.04%0Timeline
TFIITFI INTERNATIONAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 14,200 shares 14,200$1.48M0.91%newTimeline
JJACOBS SOLUTIONS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 11,000 shares; 2024Q4: 11,000 shares; 2025Q1: 11,000 shares; 2025Q2: 11,000 shares; 2025Q3: not reported; 2025Q4: 11,000 shares 11,000$1.47M0.91%newTimeline
AVGOBROADCOM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,300 shares; 2024Q4: 10,500 shares; 2025Q1: 3,600 shares; 2025Q2: 6,800 shares; 2025Q3: not reported; 2025Q4: 4,100 shares 4,100$1.43M0.88%newTimeline
IDCCINTERDIGITAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 3,100 shares; 2025Q2: 5,500 shares; 2025Q3: 5,500 shares; 2025Q4: 3,900 shares 3,900$1.27M0.78%-1,600Timeline
GIBCGI INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 12,910 shares; 2024Q4: 12,910 shares; 2025Q1: 12,910 shares; 2025Q2: 12,910 shares; 2025Q3: 12,910 shares; 2025Q4: 12,910 shares 12,910$1.2M0.74%0Timeline
NOWSERVICENOW INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 1,400 shares; 2025Q4: 7,000 shares 7,000$1.08M0.66%+5,600Timeline
TKOTKO GROUP HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 5,000 shares; 2025Q4: 5,000 shares 5,000$1.07M0.66%0Timeline
PWRQUANTA SVCS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 2,200 shares 2,200$943K0.58%newTimeline
ACNACCENTURE PLC IRELANDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,200 shares; 2024Q4: 3,200 shares; 2025Q1: 3,200 shares; 2025Q2: not reported; 2025Q3: 3,200 shares; 2025Q4: 3,200 shares 3,200$863K0.53%0Timeline
VVISA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,100 shares; 2024Q4: 5,100 shares; 2025Q1: 5,100 shares; 2025Q2: 5,100 shares; 2025Q3: 5,100 shares; 2025Q4: 4,900 shares 4,900$805K0.49%-200Timeline
METAMETA PLATFORMS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 2,700 shares; 2025Q1: 1,300 shares; 2025Q2: not reported; 2025Q3: 2,100 shares; 2025Q4: 1,050 shares 1,050$699K0.43%-1,050Timeline
AMTMAMENTUM HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 11,000 shares; 2024Q4: 11,000 shares; 2025Q1: 11,000 shares; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 11,669 shares 11,669$342K0.21%newTimeline

Sold out in Q4 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
BANK OF AMERICA INCBANK OF AMERICA INC350,000$18.3Mshares
STNSTANTEC INC57,900$6.12Mshares
RBARB GLOBAL INC54,800$5.89Mshares
AGIALAMOS GOLD INC168,000$5.82Mshares
BKNGBOOKING HOLDINGS INC225$1.23Mshares
ORLYOREILLY AUTOMOTIVE INC9,000$968Kshares

How Q4 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001904373-26-000001 base2026-02-11acceptance time not in the bulk data set