HILLSDALE INVESTMENT MANAGEMENT INC.

PrivateCIK: 1368465

Location

TORONTO, A6

655

Positions

$3.68B

Total AUM (reported)

102.31M

Total Shares

Allocation by class

COM$3.68B100.0%

Portfolio Concentration

Top 3$402.03M10.9%

4–10$503.60M13.7%

11–25$654.11M17.8%

Rest$2.12B57.6%

Top 3 weight

10.9%

Top 10 weight

24.6%

Voting Authority Distribution

Total shares with voting rights: 102.31M

Sole

Full voting authority

73.95M

% of voting shares72.3%

Shared

Joint voting authority

0.00

% of voting shares0.0%

None

No voting authority

28.36M

% of voting shares27.7%

Investment Discretion (by position count)

Sole655

Shared0

Other0

Dominant voting typeSole · 72.3% of voting shares

Institutional Holdings655

Rows:

Royal Bank of Canada

SOLE

COM

Shares1.07M

TypeSH

Market value$172.18M

4.68%

Sole

212K

Shared

0.00

None

853.34K

Canadian Imperial Bank of Commerce

SOLE

COM

Shares1.24M

TypeSH

Market value$117.67M

3.20%

Sole

259.30K

Shared

0.00

None

982.57K

Toronto-Dominion Bank (The)

SOLE

COM

Shares1.20M

TypeSH

Market value$112.19M

3.05%

Sole

156.57K

Shared

0.00

None

1.04M

The Bank of Nova Scotia

SOLE

COM

Shares1.29M

TypeSH

Market value$89.66M

2.44%

Sole

215.58K

Shared

0.00

None

1.08M

Enerflex Ltd

SOLE

COM

Shares3.83M

TypeSH

Market value$80.13M

2.18%

Sole

2.12M

Shared

0.00

None

1.71M

Agnico Eagle Mines Ltd

SOLE

COM

Shares383.21K

TypeSH

Market value$77.77M

2.12%

Sole

73.99K

Shared

0.00

None

309.22K

Bank of Montreal

SOLE

COM

Shares543.81K

TypeSH

Market value$73.64M

2.00%

Sole

141.85K

Shared

0.00

None

401.95K

Manulife Financial Corp

SOLE

COM

Shares1.87M

TypeSH

Market value$64.28M

1.75%

Sole

352.93K

Shared

0.00

None

1.51M

FORTIS INC

SOLE

COM

Shares1.09M

TypeSH

Market value$60.72M

1.65%

Sole

21.98K

Shared

0.00

None

1.07M

Centerra Gold Inc

SOLE

COM

Shares3.23M

TypeSH

Market value$57.39M

1.56%

Sole

1.38M

Shared

0.00

None

1.85M

Barrick Mining Corporation

SOLE

COM

Shares1.33M

TypeSH

Market value$54.22M

1.48%

Sole

132.31K

Shared

0.00

None

1.19M

Precision Drilling Corp

SOLE

COM

Shares487.43K

TypeSH

Market value$47.96M

1.30%

Sole

243.54K

Shared

0.00

None

243.89K

Enbridge Inc

SOLE

COM

Shares884.31K

TypeSH

Market value$47.93M

1.30%

Sole

58.56K

Shared

0.00

None

825.75K

NVIDIA Corporation

SOLE

COM

Shares272.63K

TypeSH

Market value$47.55M

1.29%

Sole

271.64K

Shared

0.00

None

983.00

Suncor Energy Inc.

SOLE

COM

Shares706.85K

TypeSH

Market value$46.74M

1.27%

Sole

303.30K

Shared

0.00

None

403.54K

Magna International Inc

SOLE

COM

Shares832.58K

TypeSH

Market value$46.49M

1.26%

Sole

253.38K

Shared

0.00

None

579.20K

SHOPIFY INC

SOLE

COM

Shares388.30K

TypeSH

Market value$46.06M

1.25%

Sole

55.45K

Shared

0.00

None

332.85K

Kinross Gold Corp

SOLE

COM

Shares1.50M

TypeSH

Market value$45.90M

1.25%

Sole

553.30K

Shared

0.00

None

948.48K

APPLE INC

SOLE

COM

Shares162.69K

TypeSH

Market value$41.29M

1.12%

Sole

162.52K

Shared

0.00

None

175.00

BCE Inc.

SOLE

COM

Shares1.62M

TypeSH

Market value$40.87M

1.11%

Sole

83.85K

Shared

0.00

None

1.54M

Rogers Communications Inc

SOLE

COM

Shares991.37K

TypeSH

Market value$38.12M

1.04%

Sole

153.97K

Shared

0.00

None

837.40K

Wheaton Precious Metals Corp

SOLE

COM

Shares290.07K

TypeSH

Market value$38.07M

1.04%

Sole

64.39K

Shared

0.00

None

225.68K

Canadian Natural Resources Ltd

SOLE

COM

Shares775.59K

TypeSH

Market value$37.83M

1.03%

Sole

164.85K

Shared

0.00

None

610.74K

Alphabet Inc

SOLE

COM

Shares130.86K

TypeSH

Market value$37.63M

1.02%

Sole

129.85K

Shared

0.00

None

1.01K

IAMGold Corp

SOLE

COM

Shares1.99M

TypeSH

Market value$37.47M

1.02%

Sole

1.15M

Shared

0.00

None

843.82K

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole	None
Royal Bank of CanadaSOLE	COM	1.07M	SH	$172.18M 4.68%	212K	853.34K
Canadian Imperial Bank of CommerceSOLE	COM	1.24M	SH	$117.67M 3.20%	259.30K	982.57K
Toronto-Dominion Bank (The)SOLE	COM	1.20M	SH	$112.19M 3.05%	156.57K	1.04M
The Bank of Nova ScotiaSOLE	COM	1.29M	SH	$89.66M 2.44%	215.58K	1.08M
Enerflex LtdSOLE	COM	3.83M	SH	$80.13M 2.18%	2.12M	1.71M
Agnico Eagle Mines LtdSOLE	COM	383.21K	SH	$77.77M 2.12%	73.99K	309.22K
Bank of MontrealSOLE	COM	543.81K	SH	$73.64M 2.00%	141.85K	401.95K
Manulife Financial CorpSOLE	COM	1.87M	SH	$64.28M 1.75%	352.93K	1.51M
FORTIS INCSOLE	COM	1.09M	SH	$60.72M 1.65%	21.98K	1.07M
Centerra Gold IncSOLE	COM	3.23M	SH	$57.39M 1.56%	1.38M	1.85M
Barrick Mining CorporationSOLE	COM	1.33M	SH	$54.22M 1.48%	132.31K	1.19M
Precision Drilling CorpSOLE	COM	487.43K	SH	$47.96M 1.30%	243.54K	243.89K
Enbridge IncSOLE	COM	884.31K	SH	$47.93M 1.30%	58.56K	825.75K
NVIDIA CorporationSOLE	COM	272.63K	SH	$47.55M 1.29%	271.64K	983.00
Suncor Energy Inc.SOLE	COM	706.85K	SH	$46.74M 1.27%	303.30K	403.54K
Magna International IncSOLE	COM	832.58K	SH	$46.49M 1.26%	253.38K	579.20K
SHOPIFY INCSOLE	COM	388.30K	SH	$46.06M 1.25%	55.45K	332.85K
Kinross Gold CorpSOLE	COM	1.50M	SH	$45.90M 1.25%	553.30K	948.48K
APPLE INCSOLE	COM	162.69K	SH	$41.29M 1.12%	162.52K	175.00
BCE Inc.SOLE	COM	1.62M	SH	$40.87M 1.11%	83.85K	1.54M
Rogers Communications IncSOLE	COM	991.37K	SH	$38.12M 1.04%	153.97K	837.40K
Wheaton Precious Metals CorpSOLE	COM	290.07K	SH	$38.07M 1.04%	64.39K	225.68K
Canadian Natural Resources LtdSOLE	COM	775.59K	SH	$37.83M 1.03%	164.85K	610.74K
Alphabet IncSOLE	COM	130.86K	SH	$37.63M 1.02%	129.85K	1.01K
IAMGold CorpSOLE	COM	1.99M	SH	$37.47M 1.02%	1.15M	843.82K

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