I can’t offer specifics on the weightings because they change depending on where the opportunities are, but I can confirm a few things:
1) 50% of the portfolio has to be allocated in Canada. The balance can be anywhere.
2) The portfolio will always consist mainly of small and mid-cap holdings. These would be names with a market cap under $10 billion, which is a global mid-cap threshold rather than a Canadian one.
3) We like to maintain a high level of liquidity on 50% of the portfolio; we want to be able to increase our cash to 50% within a week (assuming we are 20% of average daily volume).