Skip to content
Disclosery

Galibier Capital Management Ltd.

Follow

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

Galibier Capital Management Ltd. reported $300,117,773 across 38 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-10-21. Its ten largest share positions make up 71.11% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0000945621-25-000978

Period
2025-09-30
Reported value
$300M
Holdings
38
Top 10 weight
71.11%
New
0
Sold out
0

Largest buys vs the previous quarter

SecurityShares changeApprox. value
AZOadded+110$472K

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
CCJreduced-114,062-$9.57M
AEMreduced-52,413-$8.83M
HBMreduced-458,231-$6.94M
CMreduced-73,251-$5.85M
GILreduced-100,145-$5.79M

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, Q3 2025

Share positions as resolved from 13F-HR 0000945621-25-000978, largest first. % of portfolio is the value over $300,117,773, 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; 2023Q4: 463,086 shares; 2024Q1: 489,610 shares; 2024Q2: 426,551 shares; 2024Q3: 429,912 shares; 2024Q4: 367,446 shares; 2025Q1: 316,516 shares; 2025Q2: 278,610 shares; 2025Q3: 226,197 shares 226,197$38.1M12.7%-52,413Timeline
RYROYAL BK CDAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: 321,376 shares; 2024Q1: 256,254 shares; 2024Q2: 219,075 shares; 2024Q3: 3,910 shares; 2024Q4: 3,910 shares; 2025Q1: 206,282 shares; 2025Q2: 255,488 shares; 2025Q3: 220,458 shares 220,458$32.5M10.83%-35,030Timeline
ENBENBRIDGE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: 351,364 shares; 2024Q1: 640,076 shares; 2024Q2: 639,285 shares; 2024Q3: 641,864 shares; 2024Q4: 809,045 shares; 2025Q1: 694,942 shares; 2025Q2: 559,017 shares; 2025Q3: 499,597 shares 499,597$25.2M8.4%-59,420Timeline
CNQCANADIAN NAT RES LTD MED TERQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: 451,424 shares; 2024Q1: 382,328 shares; 2024Q2: 631,286 shares; 2024Q3: 777,962 shares; 2024Q4: 795,332 shares; 2025Q1: 696,293 shares; 2025Q2: 677,413 shares; 2025Q3: 633,545 shares 633,545$20.3M6.75%-43,868Timeline
MFCMANULIFE FINL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q2: 710,069 shares; 2025Q3: 635,318 shares 635,318$19.8M6.6%-74,751Timeline
CPCANADIAN PACIFIC KANSAS CITYQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: 455,067 shares; 2024Q1: 332,235 shares; 2024Q2: 331,647 shares; 2024Q3: 331,469 shares; 2024Q4: 284,791 shares; 2025Q1: 191,818 shares; 2025Q2: 267,908 shares; 2025Q3: 240,014 shares 240,014$17.9M5.96%-27,894Timeline
CMCANADIAN IMPERIAL BANK OF COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: 512,922 shares; 2024Q1: 498,398 shares; 2024Q2: 475,645 shares; 2024Q3: 523,698 shares; 2024Q4: 387,299 shares; 2025Q1: 385,212 shares; 2025Q2: 285,273 shares; 2025Q3: 212,022 shares 212,022$16.9M5.65%-73,251Timeline
NTRNUTRIEN LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: 425,130 shares; 2024Q1: 445,941 shares; 2024Q2: 445,453 shares; 2024Q3: 663,346 shares; 2024Q4: 541,324 shares; 2025Q1: 406,762 shares; 2025Q2: 313,057 shares; 2025Q3: 280,633 shares 280,633$16.5M5.49%-32,424Timeline
GIBCGI INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: 231,315 shares; 2024Q1: 222,836 shares; 2024Q2: 222,485 shares; 2024Q3: 225,387 shares; 2024Q4: 197,010 shares; 2025Q1: 160,720 shares; 2025Q2: 172,318 shares; 2025Q3: 155,232 shares 155,232$13.8M4.61%-17,086Timeline
TUTELUS CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: not reported; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 902,372 shares; 2025Q3: 786,678 shares 786,678$12.4M4.13%-115,694Timeline
QSRRESTAURANT BRANDS INTL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: 375,752 shares; 2024Q1: 326,013 shares; 2024Q2: 355,326 shares; 2024Q3: 359,989 shares; 2024Q4: 287,533 shares; 2025Q1: 161,810 shares; 2025Q2: 209,015 shares; 2025Q3: 188,137 shares 188,137$12.1M4.02%-20,878Timeline
ATSATS CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: 110,830 shares; 2024Q3: 132,830 shares; 2024Q4: 717,571 shares; 2025Q1: 806,997 shares; 2025Q2: 486,375 shares; 2025Q3: 447,446 shares 447,446$11.7M3.9%-38,929Timeline
HBMHUDBAY MINERALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q2: 1,145,239 shares; 2025Q3: 687,008 shares 687,008$10.4M3.47%-458,231Timeline
GILGILDAN ACTIVEWEAR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: not reported; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 272,918 shares; 2025Q3: 172,773 shares 172,773$9.98M3.33%-100,145Timeline
WFGWEST FRASER TIMBER CO LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: not reported; 2024Q1: 110,853 shares; 2024Q2: 279,655 shares; 2024Q3: 209,423 shares; 2024Q4: 158,544 shares; 2025Q1: 152,530 shares; 2025Q2: 150,298 shares; 2025Q3: 135,552 shares 135,552$9.22M3.07%-14,746Timeline
OSKOSHKOSH CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: 48,509 shares; 2024Q1: 48,509 shares; 2024Q2: 36,527 shares; 2024Q3: 45,227 shares; 2024Q4: 45,227 shares; 2025Q1: 37,227 shares; 2025Q2: 37,227 shares; 2025Q3: 37,227 shares 37,227$4.83M1.61%0Timeline
EQXEQUINOX GOLD CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: not reported; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 570,000 shares; 2025Q2: 527,019 shares; 2025Q3: 417,019 shares 417,019$4.67M1.56%-110,000Timeline
CCJCAMECO CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: not reported; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 283,159 shares; 2025Q2: 163,961 shares; 2025Q3: 49,899 shares 49,899$4.19M1.4%-114,062Timeline
HSICSCHEIN HENRY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: 43,476 shares; 2024Q1: 51,476 shares; 2024Q2: 51,476 shares; 2024Q3: 51,476 shares; 2024Q4: 51,476 shares; 2025Q1: 41,476 shares; 2025Q2: 41,476 shares; 2025Q3: 41,476 shares 41,476$2.75M0.92%0Timeline
GBXGREENBRIER COS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: 104,448 shares; 2024Q3: 109,448 shares; 2024Q4: 60,179 shares; 2025Q1: 56,799 shares; 2025Q2: 56,799 shares; 2025Q3: 47,799 shares 47,799$2.21M0.74%-9,000Timeline
BRK-BBERKSHIRE HATHAWAY INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: 3,590 shares; 2024Q1: 3,590 shares; 2024Q2: 3,990 shares; 2024Q3: 3,990 shares; 2024Q4: 3,990 shares; 2025Q1: 3,433 shares; 2025Q2: 3,155 shares; 2025Q3: 3,155 shares 3,155$1.59M0.53%0Timeline
AZOAUTOZONE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: not reported; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 200 shares; 2025Q3: 310 shares 310$1.33M0.44%+110Timeline
JPMJPMORGAN CHASE & COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: 5,760 shares; 2024Q1: 5,760 shares; 2024Q2: 5,760 shares; 2024Q3: 5,260 shares; 2024Q4: 5,260 shares; 2025Q1: 3,760 shares; 2025Q2: 3,760 shares; 2025Q3: 3,760 shares 3,760$1.19M0.4%0Timeline
TMOTHERMO FISHER SCIENTIFIC INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: 1,601 shares; 2024Q1: 1,601 shares; 2024Q2: 1,601 shares; 2024Q3: 1,601 shares; 2024Q4: 1,601 shares; 2025Q1: 1,482 shares; 2025Q2: 2,432 shares; 2025Q3: 2,432 shares 2,432$1.18M0.39%0Timeline
INGING GROEP N.V.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: 58,208 shares; 2024Q1: 92,208 shares; 2024Q2: 92,208 shares; 2024Q3: 92,208 shares; 2024Q4: 106,208 shares; 2025Q1: 70,208 shares; 2025Q2: 50,208 shares; 2025Q3: 44,883 shares 44,883$1.17M0.39%-5,325Timeline
CLCOLGATE PALMOLIVE COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: 1,200 shares; 2024Q1: 1,200 shares; 2024Q2: 1,200 shares; 2024Q3: 1,200 shares; 2024Q4: 1,200 shares; 2025Q1: 14,631 shares; 2025Q2: 14,631 shares; 2025Q3: 14,631 shares 14,631$1.17M0.39%0Timeline
CBCHUBB LIMITEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: 5,297 shares; 2024Q3: 5,297 shares; 2024Q4: 5,297 shares; 2025Q1: 3,897 shares; 2025Q2: 3,897 shares; 2025Q3: 3,897 shares 3,897$1.1M0.37%0Timeline
ZBHZIMMER BIOMET HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: not reported; 2024Q3: 9,200 shares; 2024Q4: 9,200 shares; 2025Q1: 10,484 shares; 2025Q2: 10,484 shares; 2025Q3: 10,484 shares 10,484$1.03M0.34%0Timeline
GOOGLALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: 4,200 shares; 2024Q1: 4,200 shares; 2024Q2: 4,200 shares; 2024Q3: 4,200 shares; 2024Q4: 4,200 shares; 2025Q1: 4,200 shares; 2025Q2: 4,200 shares; 2025Q3: 4,200 shares 4,200$1.02M0.34%0Timeline
AAPLAPPLE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: 12,647 shares; 2024Q1: 6,035 shares; 2024Q2: 6,035 shares; 2024Q3: 5,635 shares; 2024Q4: 4,235 shares; 2025Q1: 5,573 shares; 2025Q2: 5,573 shares; 2025Q3: 3,961 shares 3,961$1.01M0.34%-1,612Timeline
MSFTMICROSOFT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: 2,058 shares; 2024Q1: 2,058 shares; 2024Q2: 2,058 shares; 2024Q3: 2,058 shares; 2024Q4: 2,058 shares; 2025Q1: 1,808 shares; 2025Q2: 1,808 shares; 2025Q3: 1,449 shares 1,449$751K0.25%-359Timeline
ASMLASML HLDG NVQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: not reported; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 700 shares; 2025Q2: 700 shares; 2025Q3: 700 shares 700$678K0.23%0Timeline
WABWABTECQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: 6,658 shares; 2024Q1: 6,658 shares; 2024Q2: 5,658 shares; 2024Q3: 5,678 shares; 2024Q4: 3,678 shares; 2025Q1: 2,978 shares; 2025Q2: 2,978 shares; 2025Q3: 2,978 shares 2,978$597K0.2%0Timeline
DECKDECKERS OUTDOOR CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: not reported; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 6,100 shares; 2025Q3: 5,100 shares 5,100$517K0.17%-1,000Timeline
CNICANADIAN NATL RY COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: 2,200 shares; 2024Q1: 2,200 shares; 2024Q2: 2,200 shares; 2024Q3: 2,200 shares; 2024Q4: 2,200 shares; 2025Q1: 2,200 shares; 2025Q2: 2,200 shares; 2025Q3: 2,200 shares 2,200$208K0.07%0Timeline
TRPTC ENERGY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: not reported; 2024Q1: 1,816 shares; 2024Q2: 1,816 shares; 2024Q3: 1,816 shares; 2024Q4: 1,816 shares; 2025Q1: 1,816 shares; 2025Q2: 1,816 shares; 2025Q3: 1,816 shares 1,816$98.8K0.03%0Timeline
NKENIKE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: 2,670 shares; 2024Q1: 400 shares; 2024Q2: 15,400 shares; 2024Q3: 16,900 shares; 2024Q4: 400 shares; 2025Q1: 400 shares; 2025Q2: 400 shares; 2025Q3: 400 shares 400$27.9K0.01%0Timeline
SOBOSOUTH BOW CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: not reported; 2024Q3: not reported; 2024Q4: 363 shares; 2025Q1: 363 shares; 2025Q2: 363 shares; 2025Q3: 363 shares 363$10.3K<0.01%0Timeline

How Q3 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 0000945621-25-000978 base2025-10-21acceptance time not in the bulk data set