E-TO

E-TO

E-TO

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2025 Q2	Jul 9, 2025	DKAM Donville Kent Asset Management	-	-3.5%	BLN.TO, E.TO, GRID.TO, GSY.TO, MDA.TO, VHI.TO, ZDC.TO	Canada, earnings, energy, growth, healthcare, M&A, small caps, technology	Enterprise Group's acquisition of Flex Energy Canada provides exposure to natural gas turbines for permanent power installations. The operational Coastal GasLink and LNG Canada facility represents significant infrastructure for Canadian LNG exports to Asia. Canada LNG is positioned as the lowest cost natural gas globally during constrained power supply conditions.	GSY.TO GRID.TO MDA.TO VHI.TO ZDC.TO E.TO GSY CN GRID CN VHI CN E CN	View
2026 Q1	Apr 8, 2026	DKAM Donville Kent Asset Management	-	-	AMZN, BAMI.TO, CSU.TO, E.TO, GRID.TO, GSY.TO, PRL.TO, VHI.TO, ZDC.TO	Canada, energy, growth, healthcare, productivity, small caps, technology, value		GRID.TO VHI.TO E.TO BAMI.TO ZDC.TO CSU.TO PRL.TO GSY.TO	View
2024 Q4	Feb 7, 2025	DKAM Donville Kent Asset Management	-	102.8%	AAPL, AEP.V, AMZN, CPH.TO, CTS.TO, E.TO, FORA.TO, GOOGL, GSY.TO, MDA.TO, META, MSFT, NVDA, PNG.V, PRL.TO, SECU.V, TSLA, VHI.V, ZDC.TO	AI, Canada, earnings, energy, growth, inflation, small caps, tariffs	The fund focuses on small/mid cap growth stocks and believes they are in the next 5-7 year bull cycle for this segment. Large caps have never been this overvalued versus small caps, with small caps offering more than twice the earnings growth for almost one third the valuation.		View
2025 Q3	Nov 19, 2025	DKAM Donville Kent Asset Management	-	-	CPH.TO, CSU.TO, E.TO, GRID.TO, GSY.TO, MDA.TO, PRL.TO, TGH.TO, VHI.TO, ZDC.TO	AI, growth, healthcare, Rate Cuts, small caps, software, technology, Valuations	AI creates both opportunities and threats for software companies. While AI enables cheap app development through vibe-coding, this creates security vulnerabilities that make traditional software companies with proper certifications more valuable in regulated industries like healthcare and finance. The fund's software holdings benefit from AI efficiency gains while being protected by regulatory moats.	GSY CT E CT MDA CT CSU CT VHI CT	View
2024 Q3	Oct 7, 2024	DKAM Donville Kent Asset Management	0.0%	68.1%	BYD.TO, E.TO, GSY.TO, MTY.TO, PRL.TO, VHI.V, ZDC.V	Canada, Compounding, rates, ROE, small caps, value	Fund focuses on small and mid-cap stocks which are at historically cheap discounts relative to large caps. Small cap earnings growth is forecast to be 30% greater than large cap earnings growth in 2025. The combination of declining rates, cash on sidelines, and cheap valuations supports the view that we're at the beginning of the next multi-year cycle for small and mid-cap stocks.	E.TO ZDC.V VHI.V GSY.TO MTY.TO BYD.TO	View
2025 Q4	Jan 13, 2026	DKAM Donville Kent Asset Management	0.0%	0.0%	CIGI.TO, CPH.TO, E.TO, GSY.TO, MDA.TO, PNG.TO, PRL.TO, VHI.TO, ZDC.TO	Canada, Corrections, earnings, LNG, small caps, technology, value	Small caps are set to have higher earnings growth than large caps for the first time in a long time, while the valuation mismatch between large caps and small caps is at historic levels. The fund focuses on small-medium compounders that have been oversold despite strong fundamentals. The correction has created a setup similar to 2022 where high-quality companies with strong fundamentals are trading at historically cheap valuations. Many stocks are now at record cheap valuations while continuing to grow earnings, creating significant opportunities for value-oriented investors. The Canadian government is going all in on LNG with approvals of LNG Phase 1 & 2 and Ksi Lisims. Prime Minister Carney stated Canada could export 50 million metric tons per year of LNG by 2030 and double that by 2040, implying all west coast LNG projects would proceed.	ZDC VHI E PRL GSY	View
2025 Q1	Apr 16, 2025	DKAM Donville Kent Asset Management	-	-	CPH.TO, CSU.TO, E.TO, FORA.TO, GAMB, GSY.TO, MDA.TO, PRL.TO, VHI.TO, ZDC.TO	Canada, growth, Quality, Sentiment, small caps, tariffs, Trade Policy, value	The manager discusses the significant market impact of tariffs and trade war policies, noting that the market has shifted focus entirely to trade concerns. They believe the worst of tariff uncertainty has peaked and expect countries to come to the bargaining table for new trade deals.	E.TO CSU.TO MDA.TO FORA.TO CPH.TO GAMB VHI.TO ZDC.TO PRL.TO GSY.TO	View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
Apr 13, 2026	Fund Letters	DKAM Donville Kent Asset Management	Enterprise Group Inc.	Energy Equipment & Services	Oil & Gas Equipment & Services	Bull	TSX	Disruptive Technology, energy equipment, LNG, natural gas, Technology S-Curve, turnaround, Western Canada	View Pitch
Apr 13, 2026	Fund Letters	DKAM Donville Kent Asset Management	Enterprise Group	Energy	Oil & Gas Equipment & Services	Bull	TSX	acquisition, Canada, Commercial Buildings, Energy Services, infrastructure, LNG, natural gas, power solutions, Turbines	View Pitch
Apr 13, 2026	Fund Letters	DKAM Donville Kent Asset Management	Enterprise Group Inc.	Energy	Oil & Gas Equipment & Services	Bull	TSX	Emissions Reduction, energy equipment, Exclusive Technology, high IRR, Mining, Mobile Power, oilfield services	View Pitch
Apr 9, 2026	Fund Letters	DKAM Donville Kent Asset Management	Enterprise Group Inc.	Oil & Gas Equipment & Services	Oil & Gas Equipment & Services	Bull	Toronto Stock Exchange	Canadian, Capex Inflection, Cyclical Recovery, Energy Services, Equipment Rental, LNG, natural gas	View Pitch

BSD Shareholders of E-TO

This report provides a detailed summary of investor holdings for a specified stock ticker, highlighting key metrics such as fund name, total assets under management (AUM), invested value, portfolio weight, and shares owned. It also tracks changes in share ownership during the last quarter, including the percentage of shares bought or sold and the percentage of outstanding shares owned. The data is generated using an API that processes investor holdings and calculates these values for each fund. This report helps investors and analysts monitor the stock positions of major funds, identify investment trends, and assess the influence of large investors on individual stocks.

Filing Date: September 30, 2025

Manager Name	Fund Name	Fund AUM	Invested Value	Portfolio Weight	Shares Owned	Shares Bought / Sold During Quarter	% Bought / Sold During Quarter	% of Shares Outstanding Owned
No investor data available.

Join for free and get access to the buyside

Get insights from the world's most influential hedge fund investors direct to your inbox

Follow Us On: