Silver Heights Capital Management Inc.

Portfolio Overview

Silver Heights Capital Management Inc. disclosed 4 positions worth $260.2M in its Form 13F-HR for Q1 2026, led by $IRDM (Iridium Communications Inc.) at 54.9% of the equity portfolio, followed by $HEI.A and $KMX. During the quarter the fund opened 0 new positions and exited 1 and a full exit from $PII. The portfolio is most concentrated in Communication Services (54.9% of disclosed assets). All figures are sourced directly from Silver Heights Capital Management Inc.’s Form 13F-HR filing with the SEC under CIK 1705712.

• 

  Iridium Communications Inc.

  $IRDM

  59.2#938

  Quality

  $142.7M5,145,479 sh
• 

  HEICO CORP

  $HEI.A

  79.2#60

  Quality

  $42.1M199,351 sh
• 

  CARMAX INC

  $KMX

  54.1#1,236

  Quality

  $38.2M917,698 sh
• 

  ADOBE INC.

  $ADBE

  80.4

  Quality

  $37.2M153,178 sh

Company	Quality	Value	Shares
Iridium Communications Inc.$IRDM	59.2#938	$142.7M	5,145,479
HEICO CORP$HEI.A	79.2#60	$42.1M	199,351
CARMAX INC$KMX	54.1#1,236	$38.2M	917,698
ADOBE INC.$ADBE	80.4	$37.2M	153,178

Showing top 4 of 4 holdings.

Full Holdings — Silver Heights Capital Management Inc. (Q1 2026)

All 4 disclosed positions from the latest Form 13F-HR, with quarter-over-quarter share changes and 13F Pro quality scores. Sourced from SEC EDGAR.

#	Ticker	Company	Value	Weight	QoQ	Quality
1	$IRDM	Iridium Communications Inc.	$142.7M	54.9%	-2%	59.2
2	$HEI.A	HEICO CORP	$42.1M	16.2%	-35%	79.2
3	$KMX	CARMAX INC	$38.2M	14.7%	-1%	54.1
4	$ADBE	ADOBE INC.	$37.2M	14.3%	+57%	80.4