HILLSDALE INVESTMENT MANAGEMENT INC
Q4 2021 Form 13-F

TORONTO, ONTARIO, CANADA
CIK 0001368465 · CRD 137883 · SEC-registered investment adviser
$1.5B Reported Value Total

HILLSDALE INVESTMENT MANAGEMENT INC. reports 136 total accounts under management (AUM). There are 136 discretionary accounts valued at $3,165,941,835, 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
$1.5B
Quarter over quarter
+10.7%
Holdings
552
Top-10 concentration
18.0%

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
Q3 2021
Q1 2022
Go to latest

Coverage begins with the second quarter of 2013. Earlier quarters are not shown while their accuracy is being verified.

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Q4 2021 13F filing summary

Period of report December 31, 2021
Filed February 07, 2022
Form 13F-HR
Reported value $1.5B
Positions 552
Change in reported value +15.3%
New positions 102
Exited positions 100
Position turnover 31.0%
Top-10 concentration 18.0%

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 · Q4 2021

# Holding Reported value % of portfolio
1 TD TORONTO DOMINION BK ONT $39.1M 2.62%
2 RY ROYAL BK CDA COM $30.0M 2.01%
3 VET VERMILION ENERGY INC COM $25.9M 1.73%
4 CNQ CANADIAN NAT RES LTD $25.8M 1.73%
5 OVV OVINTIV INC COM $25.7M 1.72%
6 CM CANADIAN IMP BK COMM $25.5M 1.71%
7 BNS BANK NOVA SCOTIA B C $24.7M 1.65%
8 NTR NUTRIEN LTD $24.6M 1.65%
9 WFG WEST FRASER TIMBER CO LTD COM $23.5M 1.57%
10 SHOP SHOPIFY INC $23.4M 1.57%
11 ERF ENERPLUS CORP COM $23.4M 1.56%
12 CLSXXXX CELESTICA INC SUB VTG SHS $23.2M 1.55%
13 BMO BANK MONTREAL QUE $22.6M 1.51%
14 SU SUNCOR ENERGY INC NEW $22.6M 1.51%
15 CIXXF CI FINL CORP COM $22.0M 1.48%
16 BBU BROOKFIELD BUSINESS PARTNERS $21.6M 1.45%
17 BAMXXXX BROOKFIELD ASSET MGMT INC CL A $20.0M 1.34%
18 BTE BAYTEX ENERGY CORP COM $16.5M 1.11%
19 CNI CANADIAN NATL RY CO COM $15.3M 1.02%
20 CVE CENOVUS ENERGY INC COM $12.8M 0.86%

Values as reported on the Q4 2021 Form 13F. Every position is in the holdings table below.

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