Caldwell Investment Management Ltd. — 13F Holdings & Portfolio
CIK 1904373 · latest 13F-HR filed 2026-08-11
Caldwell Investment Management Ltd. manages $152.3M in 13F-reported U.S. long-equity assets across 33 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are CBOE (17.52%), MIAX (14.63%), BAC (13.85%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 11 new positions and exited 35; 10 existing positions rose in reported value and 10 fell.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
Long-equity book
Distinct positions
Filed 2026-08-11
vs 2026-03-31
Portfolio charts
Latest quarter's book, what changed, and how the portfolio has evolved across filings.
Portfolio map
Q2 26Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.
Sector mix
% of 13F valueSectors from each company's SIC code; funds and ETFs grouped separately.
Biggest buys and sells
Q1 26 → Q2 26Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.
13F assets and positions
4 quartersTotal reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.
Top positions over time
reported valueThe eight largest current positions, valued at each quarter end.
Concentration
top 10 = 84.6%Cumulative share of the portfolio held in the largest N positions.
As of the firm’s regulatory filing dated Apr 7, 2026.
STE 202
BRENTWOOD, TN 37027
| Name | Title / Status | Ownership | Type |
|---|---|---|---|
| CALDWELL, BILLY, RAY Control | MEMBER since Jun 2007 | 75% or more | Individual |
| SMITH, NATASHA, LEE Control | CHIEF COMPLIANCE OFFICER since Sep 2022 | Less than 5% | Individual |
Ownership & leadership changes · 2 filings with changes since Mar 29, 2012
From the firm’s regulatory filings, newest first. Dates are filing dates: a filing that no longer lists someone does not say when they left.
- ChangedCALDWELL, BILLY, RAY · title CHIEF COMPLIANCE OFFICER / MEMBER → MEMBER
- ChangedSMITH, NATASHA, LEE · title CHIEF OPERATING OFFICER → CHIEF COMPLIANCE OFFICER; now a control person
- AddedSMITH, NATASHA, LEE · CHIEF OPERATING OFFICER · Less than 5%
- ListedCALDWELL, BILLY, RAY · CHIEF COMPLIANCE OFFICER / MEMBER · 75% or more · control person
Quarter-over-quarter changes
Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.
Top Adds (vs prior quarter)
- BANK AMERICA CORP$4.5M +27.4%
- ENERFLEX LTD$1.6M +19.2%
- ELECTROVAYA INC$1.3M +45.4%
- VERTIV HOLDINGS CO$627.9K +74.4%
- AMAZON COM INC$343.8K +18.4%
Top Trims
- CBOE GLOBAL MKTS INC-$6.7M -20.0%
- AGNICO EAGLE MINES LTD-$6.6M -93.4%
- CENOVUS ENERGY INC-$5.9M -76.1%
- INTERCONTINENTAL EXCH IN-$3.4M -21.7%
- MIAMI INTL HLDGS INC-$2.6M -10.6%
New Positions
- MANULIFE FINL CORP$9.9M
- APPLIED MATLS INC$1.6M
- ACADIAN ASSET MGMT INC$1.3M
- BROOKFIELD RENEWABLE CORP$1.2M
- RB GLOBAL INC$1.2M
Exited Positions
- MORGAN STANLEY$39.6M
- CITIGROUP INC$8.1M
- SPROTT INC$7.7M
- KINROSS GOLD CORP$4.9M
- CAMECO CORP$4.2M
Caldwell Investment Management Ltd. Holdings (2026-06-30)
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | CBOE GLOBAL MKTS INC | CBOE | 12503M108 | $26.7M | 17.52% | 110,000 | SH |
| 2 | MIAMI INTL HLDGS INC | MIAX | 59356Q108 | $22.3M | 14.63% | 600,000 | SH |
| 3 | BANK AMERICA CORP | BAC | 060505104 | $21.1M | 13.85% | 370,400 | SH |
| 4 | KKR & CO INC | KKR | 48251W104 | $18.3M | 12.05% | 200,000 | SH |
| 5 | INTERCONTINENTAL EXCH IN | ICE | 45866F104 | $12.3M | 8.08% | 100,000 | SH |
| 6 | ENERFLEX LTD | EFXT | 29269R105 | $10.1M | 6.62% | 411,000 | SH |
| 7 | MANULIFE FINL CORP | MFC | 56501R106 | $9.9M | 6.49% | 244,000 | SH |
| 8 | ELECTROVAYA INC | ELVA | 28617B606 | $4.2M | 2.74% | 398,000 | SH |
| 9 | AMAZON COM INC | AMZN | 023135106 | $2.2M | 1.45% | 9,300 | SH |
| 10 | CENOVUS ENERGY INC | CVE | 15135U109 | $1.9M | 1.22% | 74,800 | SH |
| 11 | ATS CORPORATION | ATS | 00217Y104 | $1.7M | 1.15% | 60,800 | SH |
| 12 | VISA INC | V | 92826C839 | $1.7M | 1.15% | 5,100 | SH |
| 13 | APPLIED MATLS INC | AMAT | 038222105 | $1.6M | 1.04% | 2,200 | SH |
| 14 | VERTIV HOLDINGS CO | VRT | 92537N108 | $1.5M | 0.97% | 4,400 | SH |
| 15 | JPMORGAN CHASE & CO | JPM | 46625H100 | $1.3M | 0.88% | 4,100 | SH |
| 16 | ACADIAN ASSET MGMT INC | AAMI | 10948W103 | $1.3M | 0.82% | 17,500 | SH |
| 17 | INTERACTIVE BROKERS GROUP IN | IBKR | 45841N107 | $1.2M | 0.79% | 13,900 | SH |
| 18 | BROOKFIELD RENEWABLE CORP | BEPC | 11285B108 | $1.2M | 0.76% | 31,200 | SH |
| 19 | RB GLOBAL INC | RBA | 74935Q107 | $1.2M | 0.76% | 9,900 | SH |
| 20 | SPDR SERIES TST ST SP REGBNK | KRE | 78464A698 | $1.1M | 0.70% | 14,300 | SH |
| 21 | RYMAN HOSPITALITY PPTYS INC | RHP | 78377T107 | $912.0K | 0.60% | 7,100 | SH |
| 22 | LINDE PLC | LIN | G54950103 | $881.5K | 0.58% | 1,700 | SH |
| 23 | NVIDIA CORPORATION | NVDA | 67066G104 | $879.7K | 0.58% | 4,400 | SH |
| 24 | APPLIED INDL TECHNOLOGIES | AIT | 03820C105 | $878.5K | 0.58% | 2,600 | SH |
| 25 | JACOBS SOLUTIONS INC | J | 46982L108 | $868.8K | 0.57% | 6,900 | SH |
| 26 | WASTE CONNECTIONS INC | WCN | 94106B101 | $849.5K | 0.56% | 5,100 | SH |
| 27 | CGI INC | GIB | 12532H104 | $832.8K | 0.55% | 12,910 | SH |
| 28 | LEONARDO DRS INC | DRS | 52661A108 | $810.1K | 0.53% | 19,000 | SH |
| 29 | SERVICENOW INC | NOW | 81762P102 | $694.4K | 0.46% | 7,000 | SH |
| 30 | STANTEC INC | STN | 85472N109 | $647.1K | 0.42% | 9,400 | SH |
| 31 | EQUINOX GOLD CORP | EQX | 29446Y502 | $544.6K | 0.36% | 56,000 | SH |
| 32 | AGNICO EAGLE MINES LTD | AEM | 008474108 | $465.2K | 0.31% | 3,000 | SH |
| 33 | ACCENTURE PLC | ACN | G1151C101 | $397.9K | 0.26% | 3,200 | SH |
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-06-30 | 2026-08-11 | $152.3M | 33 | 0001904373-26-000003 |
| 2026-03-31 | 2026-05-14 | $255.2M | 57 | 0001904373-26-000002 |
| 2025-12-31 | 2026-02-11 | $162.6M | 29 | 0001904373-26-000001 |
| 2025-09-30 | 2025-10-27 | $152.4M | 26 | 0001904373-25-000009 |
SUITE 1702
TORONTO, A6 M5H 1J9