HILLSDALE INVESTMENT MANAGEMENT INC.

PrivateCIK: 1368465

Location

TORONTO, A6

647

Positions

$4.39B

Total AUM (reported)

115.07M

Total Shares

Allocation by class

COM$4.39B100.0%

Portfolio Concentration

Top 3$459.04M10.5%

4–10$583.06M13.3%

11–25$684.52M15.6%

Rest$2.66B60.6%

Top 3 weight

10.5%

Top 10 weight

23.8%

Voting Authority Distribution

Total shares with voting rights: 115.07M

Sole

Full voting authority

76.68M

% of voting shares66.6%

Shared

Joint voting authority

0.00

% of voting shares0.0%

None

No voting authority

38.39M

% of voting shares33.4%

Investment Discretion (by position count)

Sole647

Shared0

Other0

Dominant voting typeSole · 66.6% of voting shares

Institutional Holdings647

Rows:

Royal Bank of Canada

SOLE

COM

Shares1.01M

TypeSH

Market value$207.92M

4.74%

Sole

181.02K

Shared

0.00

None

824.13K

Canadian Imperial Bank of Commerce

SOLE

COM

Shares1.11M

TypeSH

Market value$127.34M

2.90%

Sole

228.80K

Shared

0.00

None

878.17K

Toronto-Dominion Bank (The)

SOLE

COM

Shares1.02M

TypeSH

Market value$123.79M

2.82%

Sole

136.75K

Shared

0.00

None

882.43K

The Bank of Nova Scotia

SOLE

COM

Shares1.35M

TypeSH

Market value$117.13M

2.67%

Sole

274.93K

Shared

0.00

None

1.07M

Enerflex Ltd

SOLE

COM

Shares3.62M

TypeSH

Market value$88.69M

2.02%

Sole

Shared

0.00

None

1.61M

Suncor Energy Inc.

SOLE

COM

Shares1.58M

TypeSH

Market value$85.03M

1.94%

Sole

372.67K

Shared

0.00

None

1.21M

Bank of Montreal

SOLE

COM

Shares460.74K

TypeSH

Market value$81.35M

1.85%

Sole

110.89K

Shared

0.00

None

349.85K

Canadian Natural Resources Ltd

SOLE

COM

Shares1.94M

TypeSH

Market value$76.61M

1.75%

Sole

361K

Shared

0.00

None

1.58M

Enbridge Inc

SOLE

COM

Shares1.38M

TypeSH

Market value$75.02M

1.71%

Sole

66.31K

Shared

0.00

None

1.32M

Agnico Eagle Mines Ltd

SOLE

COM

Shares381.60K

TypeSH

Market value$59.23M

1.35%

Sole

52.73K

Shared

0.00

None

328.87K

Cenovus Energy Inc

SOLE

COM

Shares2.39M

TypeSH

Market value$59.17M

1.35%

Sole

576.20K

Shared

0.00

None

1.81M

NVIDIA Corporation

SOLE

COM

Shares280.63K

TypeSH

Market value$56.15M

1.28%

Sole

279.67K

Shared

0.00

None

953.00

SHOPIFY INC

SOLE

COM

Shares451.72K

TypeSH

Market value$51.63M

1.18%

Sole

76.51K

Shared

0.00

None

375.21K

APPLE INC

SOLE

COM

Shares168K

TypeSH

Market value$48.61M

1.11%

Sole

167.83K

Shared

0.00

None

175.00

Barrick Mining Corporation

SOLE

COM

Shares1.30M

TypeSH

Market value$47.91M

1.09%

Sole

186.69K

Shared

0.00

None

1.12M

Pembina Pipeline Corp

SOLE

COM

Shares1.03M

TypeSH

Market value$47.63M

1.09%

Sole

53.62K

Shared

0.00

None

976.84K

Celestica Inc

SOLE

COM

Shares119.71K

TypeSH

Market value$43.61M

0.99%

Sole

23.20K

Shared

0.00

None

96.51K

Emera Inc

SOLE

COM

Shares821.78K

TypeSH

Market value$43.54M

0.99%

Sole

136.56K

Shared

0.00

None

685.22K

BCE Inc.

SOLE

COM

Shares2.01M

TypeSH

Market value$43.20M

0.98%

Sole

91.01K

Shared

0.00

None

1.92M

Alphabet Inc

SOLE

COM

Shares120.16K

TypeSH

Market value$42.94M

0.98%

Sole

119.15K

Shared

0.00

None

1.01K

BlackBerry Ltd

SOLE

COM

Shares3.25M

TypeSH

Market value$40.95M

0.93%

Sole

1.62M

Shared

0.00

None

1.62M

Centerra Gold Inc

SOLE

COM

Shares2.55M

TypeSH

Market value$40.46M

0.92%

Sole

1.07M

Shared

0.00

None

1.48M

OceanaGold Corp

SOLE

COM

Shares1.59M

TypeSH

Market value$39.73M

0.91%

Sole

792.51K

Shared

0.00

None

794.02K

Magna International Inc

SOLE

COM

Shares601.90K

TypeSH

Market value$39.54M

0.90%

Sole

244.20K

Shared

0.00

None

357.70K

FORTIS INC

SOLE

COM

Shares689.04K

TypeSH

Market value$39.43M

0.90%

Sole

12.25K

Shared

0.00

None

676.79K

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole	None
Royal Bank of CanadaSOLE	COM	1.01M	SH	$207.92M 4.74%	181.02K	824.13K
Canadian Imperial Bank of CommerceSOLE	COM	1.11M	SH	$127.34M 2.90%	228.80K	878.17K
Toronto-Dominion Bank (The)SOLE	COM	1.02M	SH	$123.79M 2.82%	136.75K	882.43K
The Bank of Nova ScotiaSOLE	COM	1.35M	SH	$117.13M 2.67%	274.93K	1.07M
Enerflex LtdSOLE	COM	3.62M	SH	$88.69M 2.02%	2M	1.61M
Suncor Energy Inc.SOLE	COM	1.58M	SH	$85.03M 1.94%	372.67K	1.21M
Bank of MontrealSOLE	COM	460.74K	SH	$81.35M 1.85%	110.89K	349.85K
Canadian Natural Resources LtdSOLE	COM	1.94M	SH	$76.61M 1.75%	361K	1.58M
Enbridge IncSOLE	COM	1.38M	SH	$75.02M 1.71%	66.31K	1.32M
Agnico Eagle Mines LtdSOLE	COM	381.60K	SH	$59.23M 1.35%	52.73K	328.87K
Cenovus Energy IncSOLE	COM	2.39M	SH	$59.17M 1.35%	576.20K	1.81M
NVIDIA CorporationSOLE	COM	280.63K	SH	$56.15M 1.28%	279.67K	953.00
SHOPIFY INCSOLE	COM	451.72K	SH	$51.63M 1.18%	76.51K	375.21K
APPLE INCSOLE	COM	168K	SH	$48.61M 1.11%	167.83K	175.00
Barrick Mining CorporationSOLE	COM	1.30M	SH	$47.91M 1.09%	186.69K	1.12M
Pembina Pipeline CorpSOLE	COM	1.03M	SH	$47.63M 1.09%	53.62K	976.84K
Celestica IncSOLE	COM	119.71K	SH	$43.61M 0.99%	23.20K	96.51K
Emera IncSOLE	COM	821.78K	SH	$43.54M 0.99%	136.56K	685.22K
BCE Inc.SOLE	COM	2.01M	SH	$43.20M 0.98%	91.01K	1.92M
Alphabet IncSOLE	COM	120.16K	SH	$42.94M 0.98%	119.15K	1.01K
BlackBerry LtdSOLE	COM	3.25M	SH	$40.95M 0.93%	1.62M	1.62M
Centerra Gold IncSOLE	COM	2.55M	SH	$40.46M 0.92%	1.07M	1.48M
OceanaGold CorpSOLE	COM	1.59M	SH	$39.73M 0.91%	792.51K	794.02K
Magna International IncSOLE	COM	601.90K	SH	$39.54M 0.90%	244.20K	357.70K
FORTIS INCSOLE	COM	689.04K	SH	$39.43M 0.90%	12.25K	676.79K

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