DAVIS-REA LTD. Concentrated Active

CIK: 0001482171 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Jan 28, 2026

Total Value ($000): $399,501 (100.0% shares, 0.0% debt)

Holdings (56)

New Positions (3)

NFLX NETFLIX INC 0.9%

Value ($000) $3,777 Shares 40,279 Est. Cost $107.81 Unrealized 0.0%

UL UNILEVER PLC ADR 0.8%

Value ($000) $3,197 Shares 48,888 Est. Cost $65.40 Unrealized —

— VANECK SEMICONDUCTOR ETF 0.0%

Value ($000) $9 Shares 130 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
NFLX	NETFLIX INC	40,279	$3,777	0.9%	$107.81	0.0%	COM	64110L106
UL	UNILEVER PLC ADR	48,888	$3,197	0.8%	$65.40	—	SPON ADR NEW	904767803
—	VANECK SEMICONDUCTOR ETF	130	$9	0.0%	—	—	PUT	92189F956

Increased Positions (21)

JPM JPMORGAN CHASE & CO 7.0%

Value ($000) $28,014 (+13.8%) Shares 86,942 (+11.4%) Est. Cost $219.93 Unrealized +40.7%

HD HOME DEPOT INC 2.0%

Value ($000) $7,833 (+76.2%) Shares 22,763 (+107.5%) Est. Cost $372.17 Unrealized -2.0%

PNC PNC FINANCIAL SERVICES GROUP INC 3.3%

Value ($000) $13,054 (+24.2%) Shares 62,539 (+19.5%) Est. Cost $151.11 Unrealized +27.6%

CTAS CINTAS CORPORATION 0.9%

Value ($000) $3,430 (+108.9%) Shares 18,239 (+128.0%) Est. Cost $161.10 Unrealized +16.8%

CHTR CHARTER COMMUNICATIONS INC-A 1.9%

Value ($000) $7,784 (-18.0%) Shares 37,289 (+8.1%) Est. Cost $296.39 Unrealized -24.1%

BAC BANK OF AMERICA CORP 3.7%

Value ($000) $14,911 (+8.4%) Shares 271,116 (+1.7%) Est. Cost $35.14 Unrealized +49.9%

META META PLATFORMS INC CL-A 6.2%

Value ($000) $24,730 (-4.4%) Shares 37,465 (+6.4%) Est. Cost $455.64 Unrealized +46.5%

MSFT MICROSOFT CORPORATION 5.4%

Value ($000) $21,421 (+5.0%) Shares 44,294 (+12.4%) Est. Cost $381.94 Unrealized +31.1%

NET CLOUDFLARE, INC. CL-A 3.5%

Value ($000) $14,111 (+7.3%) Shares 71,576 (+16.8%) Est. Cost $120.69 Unrealized +75.3%

GIB CGI INC CL-A SUB VTG 1.0%

Value ($000) $3,900 (+20.2%) Shares 42,200 (+15.9%) Est. Cost $105.55 Unrealized -15.7%

CNI CANADIAN NATIONAL RAILWAY 1.1%

Value ($000) $4,417 (+14.0%) Shares 44,634 (+8.7%) Est. Cost $98.96 Unrealized -2.8%

MDLZ MONDELEZ INTERNATIONAL INC (A) 0.9%

Value ($000) $3,470 (-12.6%) Shares 64,453 (+2.2%) Est. Cost $59.69 Unrealized -4.4%

SPGI S&P GLOBAL INC 1.2%

Value ($000) $4,683 (+8.6%) Shares 8,961 (+1.1%) Est. Cost $507.43 Unrealized -2.6%

FTS FORTIS INC 2.2%

Value ($000) $8,605 (+4.3%) Shares 165,411 (+1.8%) Est. Cost $42.30 Unrealized +20.1%

LIN LINDE PLC 1.1%

Value ($000) $4,562 (-6.4%) Shares 10,698 (+4.0%) Est. Cost $443.88 Unrealized -3.7%

BIP BROOKFIELD INFRASTRUCTURE PARTNERS LP 0.6%

Value ($000) $2,418 (+13.6%) Shares 69,605 (+7.6%) Est. Cost $38.43 Unrealized —

BN BROOKFIELD CORPORATION CL-A LVS 1.8%

Value ($000) $7,040 (-3.9%) Shares 153,231 (+43.6%) Est. Cost $39.26 Unrealized +16.0%

ABT ABBOTT LABORATORIES 1.1%

Value ($000) $4,573 (-4.9%) Shares 36,501 (+1.7%) Est. Cost $125.51 Unrealized +1.4%

DIS WALT DISNEY CO. 1.0%

Value ($000) $3,811 (+3.9%) Shares 33,496 (+4.6%) Est. Cost $106.32 Unrealized +3.0%

OTIS OTIS WORLDWIDE CORP 1.0%

Value ($000) $4,156 (+2.7%) Shares 47,574 (+7.5%) Est. Cost $95.53 Unrealized -6.6%

PBA PEMBINA PIPELINE CORPORATION 1.1%

Value ($000) $4,474 (-1.4%) Shares 117,368 (+4.6%) Est. Cost $36.72 Unrealized +4.7%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
JPM	JPMORGAN CHASE & CO	86,942 (+11.4%)	$28,014 (+13.8%)	7.0%	$219.93	+40.7%	COM	46625H100
HD	HOME DEPOT INC	22,763 (+107.5%)	$7,833 (+76.2%)	2.0%	$372.17	-2.0%	COM	437076102
PNC	PNC FINANCIAL SERVICES GROUP INC	62,539 (+19.5%)	$13,054 (+24.2%)	3.3%	$151.11	+27.6%	COM	693475105
CTAS	CINTAS CORPORATION	18,239 (+128.0%)	$3,430 (+108.9%)	0.9%	$161.10	+16.8%	COM	172908105
CHTR	CHARTER COMMUNICATIONS INC-A	37,289 (+8.1%)	$7,784 (-18.0%)	1.9%	$296.39	-24.1%	CL A	16119P108
BAC	BANK OF AMERICA CORP	271,116 (+1.7%)	$14,911 (+8.4%)	3.7%	$35.14	+49.9%	COM	060505104
META	META PLATFORMS INC CL-A	37,465 (+6.4%)	$24,730 (-4.4%)	6.2%	$455.64	+46.5%	CL A	30303M102
MSFT	MICROSOFT CORPORATION	44,294 (+12.4%)	$21,421 (+5.0%)	5.4%	$381.94	+31.1%	COM	594918104
NET	CLOUDFLARE, INC. CL-A	71,576 (+16.8%)	$14,111 (+7.3%)	3.5%	$120.69	+75.3%	CL A COM	18915M107
GIB	CGI INC CL-A SUB VTG	42,200 (+15.9%)	$3,900 (+20.2%)	1.0%	$105.55	-15.7%	CL A SUB VTG	12532H104
CNI	CANADIAN NATIONAL RAILWAY	44,634 (+8.7%)	$4,417 (+14.0%)	1.1%	$98.96	-2.8%	COM	136375102
MDLZ	MONDELEZ INTERNATIONAL INC (A)	64,453 (+2.2%)	$3,470 (-12.6%)	0.9%	$59.69	-4.4%	CL A	609207105
SPGI	S&P GLOBAL INC	8,961 (+1.1%)	$4,683 (+8.6%)	1.2%	$507.43	-2.6%	COM	78409V104
FTS	FORTIS INC	165,411 (+1.8%)	$8,605 (+4.3%)	2.2%	$42.30	+20.1%	COM	349553107
LIN	LINDE PLC	10,698 (+4.0%)	$4,562 (-6.4%)	1.1%	$443.88	-3.7%	SHS CLASS A	G54950103
BIP	BROOKFIELD INFRASTRUCTURE PARTNERS LP	69,605 (+7.6%)	$2,418 (+13.6%)	0.6%	$38.43	—	LP INT UNIT	G16252101
BN	BROOKFIELD CORPORATION CL-A LVS	153,231 (+43.6%)	$7,040 (-3.9%)	1.8%	$39.26	+16.0%	CL A LTD VT SH	11271J107
ABT	ABBOTT LABORATORIES	36,501 (+1.7%)	$4,573 (-4.9%)	1.1%	$125.51	+1.4%	COM	002824100
DIS	WALT DISNEY CO.	33,496 (+4.6%)	$3,811 (+3.9%)	1.0%	$106.32	+3.0%	COM	254687106
OTIS	OTIS WORLDWIDE CORP	47,574 (+7.5%)	$4,156 (+2.7%)	1.0%	$95.53	-6.6%	COM	68902V107
PBA	PEMBINA PIPELINE CORPORATION	117,368 (+4.6%)	$4,474 (-1.4%)	1.1%	$36.72	+4.7%	COM	706327103

Exited Positions (5)

CNQ CANADIAN NATURAL RESOURCES LTD 2.5%

Value ($000) $9,867 Shares 304,380 Est. Cost $31.32 Unrealized +3.5%

ISRG INTUITIVE SURGICAL INC 1.7%

Value ($000) $6,920 Shares 15,474 Est. Cost $479.87 Unrealized +10.9%

TLT iSHARES 20 YR TREASURY BOND FUND 1.1%

Value ($000) $4,469 Shares 50,000 Est. Cost $89.37 Unrealized —

— UNILEVER PLC 0.8%

Value ($000) $3,217 Shares 54,271 Est. Cost $59.55 Unrealized —

EMA EMERA INC 0.1%

Value ($000) $205 Shares 4,277 Est. Cost $46.62 Unrealized +3.6%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
CNQ	CANADIAN NATURAL RESOURCES LTD	304,380	$9,867	2.5%	$31.32	+3.5%	—	136385101
ISRG	INTUITIVE SURGICAL INC	15,474	$6,920	1.7%	$479.87	+10.9%	—	46120E602
TLT	iSHARES 20 YR TREASURY BOND FUND	50,000	$4,469	1.1%	$89.37	—	—	464287432
—	UNILEVER PLC	54,271	$3,217	0.8%	$59.55	—	—	904767704
EMA	EMERA INC	4,277	$205	0.1%	$46.62	+3.6%	—	290876101

Decreased Positions (19)

GOOGL ALPHABET INC CL-A 8.4%

Value ($000) $33,569 (+12.7%) Shares 107,248 (-12.5%) Est. Cost $159.71 Unrealized +78.8%

ZTS ZOETIS INC 0.8%

Value ($000) $3,241 (-51.5%) Shares 25,762 (-43.6%) Est. Cost $159.99 Unrealized -18.6%

AMZN AMAZON.COM INC 5.8%

Value ($000) $23,217 (-12.3%) Shares 100,585 (-16.6%) Est. Cost $154.80 Unrealized +47.8%

SNPS SYNOPSYS INC 3.6%

Value ($000) $14,509 (-18.0%) Shares 30,889 (-13.9%) Est. Cost $506.82 Unrealized -12.3%

TMO THERMO FISHER SCIENTIFIC INC 4.0%

Value ($000) $15,961 (-14.6%) Shares 27,532 (-28.5%) Est. Cost $512.50 Unrealized +10.3%

RY ROYAL BANK OF CANADA 3.5%

Value ($000) $13,792 (+8.2%) Shares 80,853 (-6.4%) Est. Cost $113.35 Unrealized +35.5%

ENB ENBRIDGE INC 1.3%

Value ($000) $5,113 (-16.1%) Shares 106,781 (-50.6%) Est. Cost $43.52 Unrealized +8.2%

TD TORONTO DOMINION BANK 1.9%

Value ($000) $7,564 (+9.5%) Shares 80,208 (-7.1%) Est. Cost $60.76 Unrealized +39.0%

SHY iSHARES 1-3 YR TREASURY BOND ETF 0.4%

Value ($000) $1,691 (-24.0%) Shares 20,415 (-23.9%) Est. Cost $82.86 Unrealized —

JNJ JOHNSON & JOHNSON 1.2%

Value ($000) $4,892 (+6.0%) Shares 23,640 (-5.0%) Est. Cost $152.45 Unrealized +29.2%

RTX RTX CORPORATION 1.4%

Value ($000) $5,715 (+4.6%) Shares 31,164 (-4.5%) Est. Cost $124.76 Unrealized +38.9%

AAPL APPLE INC 1.4%

Value ($000) $5,775 (+4.2%) Shares 21,244 (-2.4%) Est. Cost $211.97 Unrealized +26.6%

BNS BANK OF NOVA SCOTIA 1.5%

Value ($000) $5,956 (+3.3%) Shares 80,707 (-9.4%) Est. Cost $48.65 Unrealized +39.7%

DHR DANAHER CORP 0.7%

Value ($000) $2,816 (+4.5%) Shares 12,283 (-9.5%) Est. Cost $199.29 Unrealized +10.2%

GOOG ALPHABET INC CL-C 0.2%

Value ($000) $656 (+19.0%) Shares 2,091 (-6.4%) Est. Cost $151.72 Unrealized +88.7%

BMO BANK OF MONTREAL 0.1%

Value ($000) $494 (-5.4%) Shares 3,800 (-5.1%) Est. Cost $93.55 Unrealized +35.4%

BEP BROOKFIELD RENEW PTN LPU 1.0%

Value ($000) $3,856 (-0.7%) Shares 142,596 (-5.2%) Est. Cost $22.15 Unrealized —

BRK/B BERKSHIRE HATHAWAY-B INC 0.1%

Value ($000) $516 (-3.8%) Shares 1,027 (-3.7%) Est. Cost $421.23 Unrealized +18.1%

SPY SPDR S&P 500 ETF 0.1%

Value ($000) $249 (+0.3%) Shares 365 (-1.9%) Est. Cost $619.61 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
GOOGL	ALPHABET INC CL-A	107,248 (-12.5%)	$33,569 (+12.7%)	8.4%	$159.71	+78.8%	CAP STK CL A	02079K305
ZTS	ZOETIS INC	25,762 (-43.6%)	$3,241 (-51.5%)	0.8%	$159.99	-18.6%	CL A	98978V103
AMZN	AMAZON.COM INC	100,585 (-16.6%)	$23,217 (-12.3%)	5.8%	$154.80	+47.8%	COM	023135106
SNPS	SYNOPSYS INC	30,889 (-13.9%)	$14,509 (-18.0%)	3.6%	$506.82	-12.3%	COM	871607107
TMO	THERMO FISHER SCIENTIFIC INC	27,532 (-28.5%)	$15,961 (-14.6%)	4.0%	$512.50	+10.3%	COM	883556102
RY	ROYAL BANK OF CANADA	80,853 (-6.4%)	$13,792 (+8.2%)	3.5%	$113.35	+35.5%	COM	780087102
ENB	ENBRIDGE INC	106,781 (-50.6%)	$5,113 (-16.1%)	1.3%	$43.52	+8.2%	COM	29250N105
TD	TORONTO DOMINION BANK	80,208 (-7.1%)	$7,564 (+9.5%)	1.9%	$60.76	+39.0%	COM NEW	891160509
SHY	iSHARES 1-3 YR TREASURY BOND ETF	20,415 (-23.9%)	$1,691 (-24.0%)	0.4%	$82.86	—	1 3 YR TREAS BD	464287457
JNJ	JOHNSON & JOHNSON	23,640 (-5.0%)	$4,892 (+6.0%)	1.2%	$152.45	+29.2%	COM	478160104
RTX	RTX CORPORATION	31,164 (-4.5%)	$5,715 (+4.6%)	1.4%	$124.76	+38.9%	COM	75513E101
AAPL	APPLE INC	21,244 (-2.4%)	$5,775 (+4.2%)	1.4%	$211.97	+26.6%	COM	037833100
BNS	BANK OF NOVA SCOTIA	80,707 (-9.4%)	$5,956 (+3.3%)	1.5%	$48.65	+39.7%	COM	064149107
DHR	DANAHER CORP	12,283 (-9.5%)	$2,816 (+4.5%)	0.7%	$199.29	+10.2%	COM	235851102
GOOG	ALPHABET INC CL-C	2,091 (-6.4%)	$656 (+19.0%)	0.2%	$151.72	+88.7%	CAP STK CL C	02079K107
BMO	BANK OF MONTREAL	3,800 (-5.1%)	$494 (-5.4%)	0.1%	$93.55	+35.4%	COM	063671101
BEP	BROOKFIELD RENEW PTN LPU	142,596 (-5.2%)	$3,856 (-0.7%)	1.0%	$22.15	—	PARTNERSHIP UNIT	G16258108
BRK/B	BERKSHIRE HATHAWAY-B INC	1,027 (-3.7%)	$516 (-3.8%)	0.1%	$421.23	+18.1%	CL B NEW	084670702
SPY	SPDR S&P 500 ETF	365 (-1.9%)	$249 (+0.3%)	0.1%	$619.61	—	TR UNIT	78462F103

Unchanged Positions (13)

ACN ACCENTURE PLC-CL A 2.5%

Value ($000) $9,914 Shares 36,953 Est. Cost $302.27 Unrealized -15.9%

SYK STRYKER CORP 3.1%

Value ($000) $12,357 Shares 35,070 Est. Cost $208.14 Unrealized +74.6%

ROP ROPER TECHNOLOGIES INC 1.1%

Value ($000) $4,305 Shares 9,672 Est. Cost $543.44 Unrealized -15.0%

CB CHUBB LTD 1.3%

Value ($000) $5,109 Shares 16,370 Est. Cost $276.25 Unrealized +5.8%

XYL XYLEM INC 1.0%

Value ($000) $4,118 Shares 30,240 Est. Cost $122.65 Unrealized +17.1%

ROK ROCKWELL AUTOMATION INC 0.5%

Value ($000) $2,180 Shares 5,604 Est. Cost $275.06 Unrealized +36.4%

V VISA INC CLASS-A 1.5%

Value ($000) $6,057 Shares 17,272 Est. Cost $336.32 Unrealized +1.2%

CAT CATERPILLAR INC 0.1%

Value ($000) $264 Shares 460 Est. Cost $425.39 Unrealized +30.6%

NEM NEWMONT CORP 0.1%

Value ($000) $342 Shares 3,669 Est. Cost $52.90 Unrealized +70.5%

BX BLACKSTONE INC 0.1%

Value ($000) $208 Shares 1,350 Est. Cost $169.47 Unrealized -10.6%

MCD McDONALD'S CORP 1.6%

Value ($000) $6,543 Shares 21,407 Est. Cost $271.98 Unrealized +12.2%

BTE BAYTEX ENERGY CORP 0.0%

Value ($000) $64 Shares 19,780 Est. Cost $2.14 Unrealized +30.0%

AQN ALGONQUIN POWER & UTILITIES CORP 0.0%

Value ($000) $76 Shares 12,264 Est. Cost $5.75 Unrealized +3.3%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ACN	ACCENTURE PLC-CL A	36,953	$9,914	2.5%	$302.27	-15.9%	SHS CLASS A	G1151C101
SYK	STRYKER CORP	35,070	$12,357	3.1%	$208.14	+74.6%	COM	863667101
ROP	ROPER TECHNOLOGIES INC	9,672	$4,305	1.1%	$543.44	-15.0%	COM	776696106
CB	CHUBB LTD	16,370	$5,109	1.3%	$276.25	+5.8%	COM	H1467J104
XYL	XYLEM INC	30,240	$4,118	1.0%	$122.65	+17.1%	COM	98419M100
ROK	ROCKWELL AUTOMATION INC	5,604	$2,180	0.5%	$275.06	+36.4%	COM	773903109
V	VISA INC CLASS-A	17,272	$6,057	1.5%	$336.32	+1.2%	COM CL A	92826C839
CAT	CATERPILLAR INC	460	$264	0.1%	$425.39	+30.6%	COM	149123101
NEM	NEWMONT CORP	3,669	$342	0.1%	$52.90	+70.5%	COM	651639106
BX	BLACKSTONE INC	1,350	$208	0.1%	$169.47	-10.6%	COM	09260D107
MCD	McDONALD'S CORP	21,407	$6,543	1.6%	$271.98	+12.2%	COM	580135101
BTE	BAYTEX ENERGY CORP	19,780	$64	0.0%	$2.14	+30.0%	COM	07317Q105
AQN	ALGONQUIN POWER & UTILITIES CORP	12,264	$76	0.0%	$5.75	+3.3%	COM	015857105