Q2 2026 13F · SEC CIK 1904373

Caldwell Investment Management Ltd.

Hedge fundFiled 2026-08-11 for Q2 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value: $152.3M
Reported positions: 33
Top holdings a year, 3 yrs: +26.4%
Average holding period: 2.0 yrs

Caldwell Investment Management Ltd. is a hedge fund that reported 33 positions worth $152.3M in its Q2 2026 13F, filed 2026-08-11. Its largest holdings were Cboe Global Mkts Inc (CBOE, 17.5%), Miami Intl Hldgs Inc (MIAX, 14.6%), Bank of Amer Corp (BAC, 13.8%). A portfolio copying its top holdings returned 26.4% a year over the last 3 years, against 20.4% for the S&P 500.

Caldwell Investment Management Ltd. holdings all 33 positions.

Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.

Caldwell Investment Management Ltd. 13F holdings
Stock	% of 13F value	Q1 2026	Shares	Share change	Reported value
CBOECboe Global Mkts Inc	17.5%	13.1%	110,000	-6.8%	$26.7M
MIAXMiami Intl Hldgs Inc	14.6%	9.8%	600,000	-9.6%	$22.3M
BACBank of Amer Corp	13.8%	6.5%	370,400	+5.8%	$21.1M
KKRKkr & Co Inc Cl A	12.0%	7.1%	200,000	+0.0%	$18.3M
ICEIntercontinental Exchange in	8.1%	6.2%	100,000	+0.0%	$12.3M
EFXTEnerflex Ltd	6.6%	3.3%	411,000	+0.0%	$10.1M
MFCManulife Finl Corp	6.5%	—	244,000	—	$9.9M
ELVAElectrovaya Inc	2.7%	1.1%	398,000	+0.0%	$4.2M
AMZNAmazon Com Inc Com	1.5%	0.7%	9,300	+0.0%	$2.2M
CVECenovus Energy Inc	1.2%	3.0%	74,800	-74.3%	$1.9M
ATSAts Corporation	1.1%	0.6%	60,800	+0.0%	$1.7M
VVisa Inc Com Cl A	1.1%	0.6%	5,100	+0.0%	$1.7M
AMATApplied Matls Inc	1.0%	—	2,200	—	$1.6M
VRTVertiv Holdings Co	1.0%	0.3%	4,400	+22.2%	$1.5M
JPMJpmorgan Chase & Co	0.9%	0.5%	4,100	+0.0%	$1.3M
AAMIAcadian Asset Mgmt Inc	0.8%	—	17,500	—	$1.3M
IBKRInteractive Brokers Group in	0.8%	0.3%	13,900	+0.0%	$1.2M
BEPCBrookfield Renewable Corp	0.8%	—	31,200	—	$1.2M
RBARb Global Inc	0.8%	—	9,900	—	$1.2M
KRESpdr Series Trust	0.7%	—	14,300	—	$1.1M
RHPRyman Hospitality Pptys Inc	0.6%	—	7,100	—	$912K
LINLinde PLC	0.6%	—	1,700	—	$882K
NVDANvidia Corporation Com	0.6%	—	4,400	—	$880K
AITApplied Indl Technologies Inc Com	0.6%	—	2,600	—	$879K
JJacobs Solutions Inc	0.6%	0.5%	6,900	-37.3%	$869K
WCNWaste Connections Inc	0.6%	0.3%	5,100	+0.0%	$849K
GIBCgi Inc	0.5%	0.4%	12,910	+0.0%	$833K
DRSLeonardo Drs Inc	0.5%	—	19,000	—	$810K
NOWServicenow Inc Com	0.5%	0.3%	7,000	+0.0%	$694K
STNStantec Inc	0.4%	0.6%	9,400	-47.2%	$647K
EQXEquinox Gold Corp	0.4%	—	56,000	—	$545K
AEMAgnico Eagle Mines Ltd	0.3%	2.8%	3,000	-91.9%	$465K
ACNAccenture PLC Ireland Shs Class A	0.3%	—	3,200	—	$398K

What Caldwell Investment Management Ltd. bought and sold in Q2 2026, against Q1 2026.

New positions

Q1 2026's filing was too long to tell new positions apart.

Added to

VRT Vertiv Holdings Co+22.2% shares
BAC Bank of Amer Corp+5.8% shares

Reduced

Sold out

Share counts compared with the Q1 2026 13F; a split also changes share counts.

How the holdings did against the S&P 500.

1 year: +14.5% /yr; S&P 500 +20.1%
3 years: +26.4% /yr; S&P 500 +20.4%
5 years: +14.9% /yr; S&P 500 +13.0%

A portfolio of the filer's 20 largest 13F positions, weighted by value and rebuilt each quarter on the day the filing became public. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Reported 13F value by quarter.

13F value by quarter
Quarter	13F value	Positions
Q2 2026	$152.3M	33
Q1 2026	$255.2M	57
Q4 2025	$162.6M	29
Q3 2025	$152.4M	26
Q2 2025	$115.4M	20
Q1 2025	$134.8M	31
Q4 2024	$148.3M	34
Q3 2024	$142.6M	32
Q2 2024	$132.9M	33
Q1 2024	$134.4M	34
Q4 2023	$130.1M	31
Q3 2023	$102.8M	27

Questions about Caldwell Investment Management Ltd.'s portfolio

What stocks does Caldwell Investment Management Ltd. own?

Caldwell Investment Management Ltd.'s latest 13F, for Q2 2026 and filed Aug 11, 2026, lists 33 positions worth $152.3M. The largest are Cboe Global Mkts Inc (CBOE) at 17.5%, Miami Intl Hldgs Inc (MIAX) at 14.6%, Bank of Amer Corp (BAC) at 13.8%, Kkr & Co Inc Cl A (KKR) at 12.0% and Intercontinental Exchange in (ICE) at 8.1%.

What did Caldwell Investment Management Ltd. buy last quarter?

In Q2 2026, Caldwell Investment Management Ltd. added Vertiv Holdings Co (VRT) (+22.2% shares) and Bank of Amer Corp (BAC) (+5.8% shares), compared with its Q1 2026 filing.

What did Caldwell Investment Management Ltd. sell last quarter?

In Q2 2026, Caldwell Investment Management Ltd. sold all of Morgan Stanley Com New (MS), sold all of Citigroup Inc Com New (C), sold all of Sprott Inc (SII), sold all of Kinross Gold Corp (KGC), sold all of Cameco Corp Com (CCJ), Agnico Eagle Mines Ltd (AEM) (-91.9% shares), Cenovus Energy Inc (CVE) (-74.3% shares) and Stantec Inc (STN) (-47.2% shares), compared with its Q1 2026 filing.

How has Caldwell Investment Management Ltd.'s portfolio performed?

A portfolio copying Caldwell Investment Management Ltd.'s 20 largest 13F holdings each quarter, from the day each filing was public, returned +26.4% a year over the last 3 years, against +20.4% for the S&P 500. Over 1 year: +14.5% against +20.1%. Over 5 years: +14.9% a year against +13.0%.

When is Caldwell Investment Management Ltd.'s next 13F filing due?

13F filings are due 45 days after each quarter ends. Caldwell Investment Management Ltd.'s filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.