HILLSDALE INVESTMENT MANAGEMENT INC
Q3 2021 Form 13-F

TORONTO, ONTARIO, CANADA
CIK 0001368465 · CRD 137883 · SEC-registered investment adviser
$1.3B Reported Value Total

HILLSDALE INVESTMENT MANAGEMENT INC. reports 122 total accounts under management (AUM). There are 122 discretionary accounts valued at $2,719,647,104, and 0 non-discretionary accounts.

Source: Form ADV filed * Note that certain holdings are exempt from Form 13-F reporting, so the AUM totals may be greater than the Form 13-F total.
SEC Registered Discretionary Manager
Firm Brochure (Part 2A) Client Relationship Summary (Form CRS)
Private funds (Form ADV)
11 funds · $1.4B gross asset value
Hedge Fund: $1.4B · Other: $9.2M
Source: Form ADV filed 2026-08-19
Reported value
$1.3B
Quarter over quarter
0.0%
Holdings
550
Top-10 concentration
19.7%

Filing Structure

Reports holdings for

Key People

Form ADV owners & control persons
Albert Christopher Guthrie
CHIEF EXECUTIVE OFFICER
Harry Samuel Marmer
EXECUTIVE VICE-PRESIDENT
Theodore (tai-Chun) Chen
CO-CHIEF INVESTMENT OFFICER
Q2 2021
Q4 2021
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Coverage begins with the second quarter of 2013. Earlier quarters are not shown while their accuracy is being verified.

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Q3 2021 13F filing summary

Period of report September 30, 2021
Filed October 21, 2021
Form 13F-HR
Reported value $1.3B
Positions 550
Change in reported value +3.1%
New positions 117
Exited positions 126
Position turnover 36.0%
Top-10 concentration 19.7%

13F filings by quarter

Quarter Positions Value
Q2 2026 13F
Filed Aug 12, 2026
 646 $4.4B
Q1 2026 13F
Filed May 4, 2026
 654 $3.7B
Q4 2025 13F
Filed Feb 10, 2026
 652 $3.6B
Q3 2025 13F
Filed Nov 10, 2025
 635 $3.3B
Q2 2025 13F
Filed Aug 12, 2025
 612 $2.7B
Q1 2025 13F
Filed May 9, 2025
 592 $2.0B
Q4 2024 13F
Filed Feb 11, 2025
 575 $2.0B
Q3 2024 13F
Filed Nov 12, 2024
 585 $1.3B
Q2 2024 13F
Filed Aug 13, 2024
 574 $1.3B
Q1 2024 13F
Filed May 10, 2024
 583 $1.3B
Q4 2023 13F
Filed Feb 9, 2024
 560 $1.2B
Q3 2023 13F
Filed Nov 9, 2023
 560 $1.1B
Q2 2023 13F
Filed Aug 11, 2023
 551 $1.1B
Q1 2023 13F
Filed May 10, 2023
 551 $1.2B
Q4 2022 13F
Filed Feb 13, 2023
 545 $1.2B
Q3 2022 13F
Filed Nov 10, 2022
 534 $1.1B
Q2 2022 13F
Filed Aug 12, 2022
 534 $1.2B
Q1 2022 13F
Filed Apr 28, 2022
 545 $1.5B
Q4 2021 13F
Filed Feb 7, 2022
 552 $1.5B
Q3 2021 13F
Filed Oct 21, 2021
 550 $1.3B

33 earlier quarters on file — choose one from the quarter menu above.

Top 20 holdings · Q3 2021

# Holding Reported value % of portfolio
1 SHOP SHOPIFY INC $33.6M 2.6%
2 BTE BAYTEX ENERGY CORP COM $30.3M 2.34%
3 TD TORONTO DOMINION BK ONT $28.2M 2.18%
4 RY ROYAL BK CDA COM $27.3M 2.11%
5 WFG WEST FRASER TIMBER CO LTD COM $26.1M 2.01%
6 CLSXXXX CELESTICA INC SUB VTG SHS $23.2M 1.79%
7 CNQ CANADIAN NAT RES LTD $22.5M 1.74%
8 OVV OVINTIV INC COM $22.2M 1.72%
9 CIXXF CI FINL CORP COM $22.0M 1.7%
10 ERF ENERPLUS CORP COM $19.4M 1.5%
11 BMO BANK MONTREAL QUE $17.4M 1.34%
12 CM CANADIAN IMP BK COMM $17.3M 1.33%
13 BNS BANK NOVA SCOTIA B C $17.2M 1.33%
14 BAMXXXX BROOKFIELD ASSET MGMT INC CL A $14.5M 1.12%
15 MGA MAGNA INTL INC COM $14.2M 1.1%
16 SLF SUN LIFE FINANCIAL INC. COM $14.2M 1.1%
17 MFC MANULIFE FINL CORP $14.0M 1.08%
18 TIXT TELUS INTL CDA INC $13.8M 1.06%
19 NTR NUTRIEN LTD $12.7M 0.98%
20 CVE CENOVUS ENERGY INC COM $10.2M 0.79%

Values as reported on the Q3 2021 Form 13F. Every position is in the holdings table below.

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