The market selloff in April after the US announced high tariffs in all countries provided a great buying opportunity for long-term investors. The stock market quickly recovered as tariffs continue to be delayed many times and announcements of potential trade talks were made. We took advantage of the market sell-off for both the Matco Canadian Equity Income Fund and the Matco Opportunities Fund by adding highquality growth companies that were unfairly punished as investors hit the panic sell button.
Now, let's turn to the Matco Canadian Equity Income Fund. In the second quarter, the Matco Canadian Equity Income Fund was up 13% and year-to-date ending June 30th was up 12%. The fund's dividend yield was 2.9% at the end of June. We were busy buying during the quarter. We bought five new positions and sold three holdings. Through it all, we stayed true to our approach. Invest in stable, fairly priced companies that reward shareholders. Top sector weights in the fund were financials at 34%, industrials at 16%, and energy at 18%.
Now, let's turn to the Matco Opportunities Fund. Small and midcap stocks were severely overpunished during the April market sell-off. We took advantage of the sell-off by adding to existing positions and one new position during the month. Over the quarter, we met with 16 potential portfolio companies. As a result of these meetings in our further due diligence, we added four new companies and sold one position in the fund.
Although the Matco Opportunities Fund was up 21% during the second quarter and year-to-date ending June 30th was up 13%, we continue to stick to our discipline investment process of finding growth companies trading at attractive valuations. Because we're committed to finding only the best opportunities for our clients, this intensive research helps us maintain a focused portfolio of just 30 high conviction holdings. Three of these holdings are gold companies, which combined make up over 12% of the fund. We purchased one new gold company during the April market sell-off. Two other gold companies were purchased over a year ago, and we still remain bullish on the long-term gold price due to global geopolitical and economic uncertainty.
Our portfolio is strategically positioned across these top key sectors. Technology at 28%, materials at 20%, industrials at 18%. Now looking ahead to the rest of 2025, some might worry about the Canada US trade war. However, based on experience, we know that every crisis is a buying opportunity. The challenge is to know what to buy and at what valuation. This is an environment that we excel at, a stock pickers market. Active management adds value by finding secular growth companies that are overlooked by investors due to macro uncertainty. In a world obsessed with quick wins and market trends, we're playing the long game. Our disciplined investment of process has proven itself time and time again, and we believe it will continue to reward our clients trust in the years to come.
