HILLSDALE INVESTMENT MANAGEMENT INC
Q1 2025 Form 13-F
TORONTO, ONTARIO, CANADA
CIK 0001368465
· CRD 137883
· SEC-registered investment adviser
$2.0B Reported Value Total
HILLSDALE INVESTMENT MANAGEMENT INC. reports 204 total accounts under management (AUM). There are 204 discretionary accounts valued at $4,460,003,433, 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.
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
$2.0B
Quarter over quarter
-1.2%
Holdings
592
Top-10 concentration
32.1%
Filing Structure
Reports holdings for
- SEI INVESTMENTS COMPANY · File #028-16454 · Q1 2024 – Q1 2026 · declared by one filing
- Desjardins Global Asset Management Inc · File #028-21533 · Q2 2024 – Q2 2025 · declared by one filing
- 1832 Asset Management L P · File #028-11685 · Q1 2024 – Q1 2025 · declared by one filing
- RUSSELL FRANK CO · File #028-01190 · Q2 2013 – Q4 2014 · declared by one filing
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
Filing Navigation
Coverage begins with the second quarter of 2013. Earlier quarters are not shown while their accuracy is being verified.
13F Metrics
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Q1 2025 13F record
Q1 2025 13F filing summary
| Period of report | March 31, 2025 |
|---|---|
| Filed | May 09, 2025 |
| Form | 13F-HR |
| Reported value | $2.0B |
| Positions | 592 |
| Change in reported value | -0.5% |
| New positions | 152 |
| Exited positions | 135 |
| Position turnover | 39.5% |
| Top-10 concentration | 32.1% |
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 · Q1 2025
| # | Holding | Reported value | % of portfolio |
|---|---|---|---|
| 1 | RY Royal Bank of Canada | $108.8M | 5.53% |
| 2 | CM Canadian Imperial Bank of Comm | $72.1M | 3.67% |
| 3 | ENB Enbridge Inc | $67.8M | 3.44% |
| 4 | BMO Bank of Montreal | $61.2M | 3.11% |
| 5 | SHOP SHOPIFY INC | $59.1M | 3.0% |
| 6 | TD Toronto-Dominion Bank (The) | $56.8M | 2.89% |
| 7 | AEM Agnico Eagle Mines Ltd | $55.6M | 2.83% |
| 8 | MFC Manulife Financial Corp | $53.7M | 2.73% |
| 9 | BNS The Bank of Nova Scotia | $51.8M | 2.63% |
| 10 | EFXT Enerflex Ltd | $44.7M | 2.27% |
| 11 | ORLA Orla Mining Ltd | $39.9M | 2.03% |
| 12 | MEOH Methanex Corp | $36.9M | 1.88% |
| 13 | FSM Fortuna Mining Corp | $31.1M | 1.58% |
| 14 | NGD New Gold Inc | $29.4M | 1.5% |
| 15 | KGC Kinross Gold Corp | $25.6M | 1.3% |
| 16 | FTS FORTIS INC | $25.4M | 1.29% |
| 17 | PBA Pembina Pipeline Corp | $24.6M | 1.25% |
| 18 | CAE CAE Inc. | $22.9M | 1.16% |
| 19 | GIL Gildan Activewear Inc | $21.9M | 1.11% |
| 20 | WPM Wheaton Precious Metals Corp | $20.8M | 1.06% |
Values as reported on the Q1 2025 Form 13F. Every position is in the holdings table below.