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As mentioned, with the removal of Whitecap, we move our small-cap model portfolio to an underweight versus the S&P/TSX Energy sector (10.7% versus 13.7%). We continue to hold positions in MEG Energy (3.2%), Enerplus (3.0%), Crescent Point Energy Corp. (CPG-T, portfolio weight 2.6%), and Tamarack Valley Energy Ltd. (TVE-T, portfolio weight 1.9%).
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