The Globe and Mail reports in its Monday, Dec. 8, edition that Canoe Financial money manager Robert Reid says Toromont Industries is a stock he purchased in December, 2024, at about $114 a share. The Globe's Brenda Bouw writes that Mr. Reid bought more when it sold off earlier this year. He says it is an attractive business with low cyclicality and strong margins that grows nicely over time. When he bought the stock, he noted the market's focus on weakness in new equipment sales, overlooking the strong performance of its product and support business. TMX Group is a stock he bought in March, 2024, for $35 a share. TMX has a strong competitive advantage, leading to consistent margins and excellent returns on invested capital. It is shifting its business mix toward higher-growth areas like the Trayport energy-trading platform, while its core derivatives business remains a growth driver. Management is effective in capital allocation. Headwater Exploration is a stock Mr. Reid bought in February this year at $6.70 a share. This year it tested a water flood, injecting water into a well to reduce its decline rate. If successful, this process could reduce the need for new wells and lower capital requirements for growth.