Bristol Gate Capital Partners' Q3 2026 investor letter for its Canadian Equity Strategy said the strategy underperformed the S&P/TSX Composite Total Return Index, which gained 1.6% in the quarter, as market returns concentrated in a few large stocks and rising bond yields weighed on defensive and rate-sensitive sectors. The strategy reallocated capital into OR Royalties (NYSE:OR), a precious-metals royalty company, after gold fell more than 25% from its January peak. The letter cited the company's cash margin of about 97% and minimal debt. As of October 30, 2026, OR shares closed near $31.89, with a market cap of about $5.88 billion, after a one-month return of about -7.13%. Hedge fund holders numbered 29 at the end of Q2, down from 35 in the prior quarter.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: Why Bristol Gate Canadian Equity Strategy Bought OR Royalties Inc. (OR) After Gold’s Pullback
Read the original on Yahoo Finance ↗
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Related tickers and likely impact
PAXG/USDT
• NeutralPAX Gold
Relevance: low
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Real-world assets |
| Market cap | $1.7B |
| Close on 11/01/2026 | 3,910.91 |
| Change that session | +0.30% |
XAUT/USDT
• NeutralTether Gold
Relevance: low
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Real-world assets |
| Market cap | $3.1B |
| Close on 11/01/2026 | 3,893.72 |
| Change that session | +0.36% |
XAU/USD
• NeutralRelevance: low
| Market | Gold |
|---|---|
| Close on 10/30/2026 | 3,875.51 |
| Change that session | -3.63% |
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