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Galibier Capital Management Ltd.

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13F filer, CIK 1765768, TORONTO, Ontario, Canada

Galibier Capital Management Ltd. reported $320,599,513 across 37 holdings for the quarter ended 2025-03-31, in a 13F-HR filed 2025-04-30. Its ten largest share positions make up 71.8% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0000945621-25-000397

Period
2025-03-31
Reported value
$321M
Holdings
37
Top 10 weight
71.8%
New
3
Sold out
3

Largest buys vs the previous quarter

SecurityShares changeApprox. value
RYadded+202,372$22.8M
CCJnew+283,159$11.7M
EQXnew+570,000$3.92M
ATSadded+89,426$2.23M
CLadded+13,431$1.26M

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
BNSexited-476,721-$25.6M
QSRreduced-125,723-$8.38M
NTRreduced-134,562-$6.68M
CPreduced-92,973-$6.52M
AEMreduced-50,930-$5.52M

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, Q1 2025

Share positions as resolved from 13F-HR 0000945621-25-000397, largest first. % of portfolio is the value over $320,599,513, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
AEMAGNICO EAGLE MINES LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: 463,086 shares; 2024Q1: 489,610 shares; 2024Q2: 426,551 shares; 2024Q3: 429,912 shares; 2024Q4: 367,446 shares; 2025Q1: 316,516 shares 316,516$34.3M10.69%-50,930Timeline
ENBENBRIDGE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: 351,364 shares; 2024Q1: 640,076 shares; 2024Q2: 639,285 shares; 2024Q3: 641,864 shares; 2024Q4: 809,045 shares; 2025Q1: 694,942 shares 694,942$30.8M9.59%-114,103Timeline
RYROYAL BK CDAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: 321,376 shares; 2024Q1: 256,254 shares; 2024Q2: 219,075 shares; 2024Q3: 3,910 shares; 2024Q4: 3,910 shares; 2025Q1: 206,282 shares 206,282$23.2M7.25%+202,372Timeline
CMCANADIAN IMPERIAL BANK OF COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: 512,922 shares; 2024Q1: 498,398 shares; 2024Q2: 475,645 shares; 2024Q3: 523,698 shares; 2024Q4: 387,299 shares; 2025Q1: 385,212 shares 385,212$21.7M6.76%-2,087Timeline
MFCMANULIFE FINL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: 1,343,779 shares; 2024Q1: 1,104,709 shares; 2024Q2: 884,276 shares; 2024Q3: 895,402 shares; 2024Q4: 781,573 shares; 2025Q1: 695,153 shares 695,153$21.7M6.76%-86,420Timeline
CNQCANADIAN NAT RES LTD MED TERQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: 451,424 shares; 2024Q1: 382,328 shares; 2024Q2: 631,286 shares; 2024Q3: 777,962 shares; 2024Q4: 795,332 shares; 2025Q1: 696,293 shares 696,293$21.4M6.68%-99,039Timeline
NTRNUTRIEN LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: 425,130 shares; 2024Q1: 445,941 shares; 2024Q2: 445,453 shares; 2024Q3: 663,346 shares; 2024Q4: 541,324 shares; 2025Q1: 406,762 shares 406,762$20.2M6.3%-134,562Timeline
ATSATS CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: 110,830 shares; 2024Q3: 132,830 shares; 2024Q4: 717,571 shares; 2025Q1: 806,997 shares 806,997$20.1M6.27%+89,426Timeline
CVECENOVUS ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: 1,518,975 shares; 2024Q1: 1,463,678 shares; 2024Q2: 1,461,388 shares; 2024Q3: 1,680,484 shares; 2024Q4: 1,389,304 shares; 2025Q1: 1,331,784 shares 1,331,784$18.5M5.77%-57,520Timeline
HBMHUDBAY MINERALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: not reported; 2024Q1: 1,799,148 shares; 2024Q2: 2,046,150 shares; 2024Q3: 2,521,108 shares; 2024Q4: 2,613,432 shares; 2025Q1: 2,424,596 shares 2,424,596$18.4M5.73%-188,836Timeline
GIBCGI INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: 231,315 shares; 2024Q1: 222,836 shares; 2024Q2: 222,485 shares; 2024Q3: 225,387 shares; 2024Q4: 197,010 shares; 2025Q1: 160,720 shares 160,720$16M5%-36,290Timeline
CPCANADIAN PACIFIC KANSAS CITYQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: 455,067 shares; 2024Q1: 332,235 shares; 2024Q2: 331,647 shares; 2024Q3: 331,469 shares; 2024Q4: 284,791 shares; 2025Q1: 191,818 shares 191,818$13.5M4.2%-92,973Timeline
WFGWEST FRASER TIMBER CO LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: not reported; 2024Q1: 110,853 shares; 2024Q2: 279,655 shares; 2024Q3: 209,423 shares; 2024Q4: 158,544 shares; 2025Q1: 152,530 shares 152,530$11.7M3.65%-6,014Timeline
CCJCAMECO CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: not reported; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 283,159 shares 283,159$11.7M3.64%newTimeline
QSRRESTAURANT BRANDS INTL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: 375,752 shares; 2024Q1: 326,013 shares; 2024Q2: 355,326 shares; 2024Q3: 359,989 shares; 2024Q4: 287,533 shares; 2025Q1: 161,810 shares 161,810$10.8M3.36%-125,723Timeline
EQXEQUINOX GOLD CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: not reported; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 570,000 shares 570,000$3.92M1.22%newTimeline
OSKOSHKOSH CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: 48,509 shares; 2024Q1: 48,509 shares; 2024Q2: 36,527 shares; 2024Q3: 45,227 shares; 2024Q4: 45,227 shares; 2025Q1: 37,227 shares 37,227$3.5M1.09%-8,000Timeline
GBXGREENBRIER COS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: 104,448 shares; 2024Q3: 109,448 shares; 2024Q4: 60,179 shares; 2025Q1: 56,799 shares 56,799$2.91M0.91%-3,380Timeline
HSICSCHEIN HENRY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: 43,476 shares; 2024Q1: 51,476 shares; 2024Q2: 51,476 shares; 2024Q3: 51,476 shares; 2024Q4: 51,476 shares; 2025Q1: 41,476 shares 41,476$2.84M0.89%-10,000Timeline
BRK-BBERKSHIRE HATHAWAY INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: 3,590 shares; 2024Q1: 3,590 shares; 2024Q2: 3,990 shares; 2024Q3: 3,990 shares; 2024Q4: 3,990 shares; 2025Q1: 3,433 shares 3,433$1.83M0.57%-557Timeline
INGING GROEP N.V.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: 58,208 shares; 2024Q1: 92,208 shares; 2024Q2: 92,208 shares; 2024Q3: 92,208 shares; 2024Q4: 106,208 shares; 2025Q1: 70,208 shares 70,208$1.38M0.43%-36,000Timeline
CLCOLGATE PALMOLIVE COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: 1,200 shares; 2024Q1: 1,200 shares; 2024Q2: 1,200 shares; 2024Q3: 1,200 shares; 2024Q4: 1,200 shares; 2025Q1: 14,631 shares 14,631$1.37M0.43%+13,431Timeline
AAPLAPPLE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: 12,647 shares; 2024Q1: 6,035 shares; 2024Q2: 6,035 shares; 2024Q3: 5,635 shares; 2024Q4: 4,235 shares; 2025Q1: 5,573 shares 5,573$1.24M0.39%+1,338Timeline
ZBHZIMMER BIOMET HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: not reported; 2024Q3: 9,200 shares; 2024Q4: 9,200 shares; 2025Q1: 10,484 shares 10,484$1.19M0.37%+1,284Timeline
CBCHUBB LIMITEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: 5,297 shares; 2024Q3: 5,297 shares; 2024Q4: 5,297 shares; 2025Q1: 3,897 shares 3,897$1.18M0.37%-1,400Timeline
JPMJPMORGAN CHASE & COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: 5,760 shares; 2024Q1: 5,760 shares; 2024Q2: 5,760 shares; 2024Q3: 5,260 shares; 2024Q4: 5,260 shares; 2025Q1: 3,760 shares 3,760$922K0.29%-1,500Timeline
TMOTHERMO FISHER SCIENTIFIC INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: 1,601 shares; 2024Q1: 1,601 shares; 2024Q2: 1,601 shares; 2024Q3: 1,601 shares; 2024Q4: 1,601 shares; 2025Q1: 1,482 shares 1,482$737K0.23%-119Timeline
TSMTAIWAN SEMICONDUCTOR MANUFACQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: not reported; 2024Q1: 8,000 shares; 2024Q2: 7,000 shares; 2024Q3: 7,710 shares; 2024Q4: 4,210 shares; 2025Q1: 4,210 shares 4,210$699K0.22%0Timeline
MSFTMICROSOFT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: 2,058 shares; 2024Q1: 2,058 shares; 2024Q2: 2,058 shares; 2024Q3: 2,058 shares; 2024Q4: 2,058 shares; 2025Q1: 1,808 shares 1,808$679K0.21%-250Timeline
GOOGLALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: 4,200 shares; 2024Q1: 4,200 shares; 2024Q2: 4,200 shares; 2024Q3: 4,200 shares; 2024Q4: 4,200 shares; 2025Q1: 4,200 shares 4,200$649K0.2%0Timeline
WABWABTECQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: 6,658 shares; 2024Q1: 6,658 shares; 2024Q2: 5,658 shares; 2024Q3: 5,678 shares; 2024Q4: 3,678 shares; 2025Q1: 2,978 shares 2,978$540K0.17%-700Timeline
ASMLASML HLDG NVQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: not reported; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 700 shares 700$464K0.14%newTimeline
CENOVUS ENERGY INCCENOVUS ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: 60,875 shares; 2024Q1: 20,875 shares; 2024Q2: 20,875 shares; 2024Q3: 34,402 shares; 2024Q4: 39,402 shares; 2025Q1: 39,402 shares 39,402$370K0.12%0
CNICANADIAN NATL RY COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: 2,200 shares; 2024Q1: 2,200 shares; 2024Q2: 2,200 shares; 2024Q3: 2,200 shares; 2024Q4: 2,200 shares; 2025Q1: 2,200 shares 2,200$214K0.07%0Timeline
TRPTC ENERGY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: not reported; 2024Q1: 1,816 shares; 2024Q2: 1,816 shares; 2024Q3: 1,816 shares; 2024Q4: 1,816 shares; 2025Q1: 1,816 shares 1,816$85.8K0.03%0Timeline
NKENIKE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: 2,670 shares; 2024Q1: 400 shares; 2024Q2: 15,400 shares; 2024Q3: 16,900 shares; 2024Q4: 400 shares; 2025Q1: 400 shares 400$25.4K0.01%0Timeline
SOBOSOUTH BOW CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: not reported; 2024Q3: not reported; 2024Q4: 363 shares; 2025Q1: 363 shares 363$9.27K<0.01%0Timeline

Sold out in Q1 2025

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

SecurityShares beforeValue beforeType
BNSBANK NOVA SCOTIA B C476,721$25.6Mshares
SQQQProShares UltraPro Short QQQ9,880$308Kshares
GOOGALPHABET INC1,225$233Kshares

How Q1 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 0000945621-25-000397 base2025-04-30acceptance time not in the bulk data set