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Lincluden Management Portfolio holdings
AUM
$1.02B
1-Year Est. Return
30.07%
This Fund
S&P 500
This Quarter
Est. Return
+8.4%
1 Year Est. Return
+30.07%
3 Year Est. Return
+56.56%
5 Year Est. Return
+49.05%
10 Year Est. Return
+141.65%
AUM
$1.02B
AUM Growth
+$79.8M
(+8.5%)
Cap. Flow
-$202M
Cap. Flow
% of AUM
-19.82%
Top 10 Holdings %
Top 10 Hldgs %
53.25%
Holding
72
New
2
Increased
23
Reduced
35
Closed
4
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
CGI
GIB
|
+$4.8M |
| 2 |
Tractor Supply
TSCO
|
+$2.5M |
| 3 |
Descartes Systems
DSGX
|
+$2.44M |
| 4 |
Jacobs Solutions
J
|
+$2.32M |
| 5 |
Walt Disney
DIS
|
+$1.65M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Pembina Pipeline
PBA
|
+$45.4M |
| 2 |
Toronto Dominion Bank
TD
|
+$17.9M |
| 3 |
Royal Bank of Canada
RY
|
+$16.3M |
| 4 |
Brookfield
BN
|
+$11.1M |
| 5 |
TC Energy
TRP
|
+$10.7M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 37.55% |
| 2 | Energy | 12.61% |
| 3 | Communication Services | 9.65% |
| 4 | Consumer Discretionary | 8.28% |
| 5 | Industrials | 6.28% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Royal Bank of Canada
RY
$294B
| $93.8M | 9.21% |
319,503
-87,771
| -22% | -$16.3M |
|
|
2
Toronto Dominion Bank
TD
$202B
| $90.9M | 8.92% |
526,877
-163,556
| -24% | -$17.9M |
|
|
3
TC Energy
TRP
$65.5B
| $56.9M | 5.59% |
605,977
-161,784
| -21% | -$10.7M |
|
4
Scotiabank
BNS
$115B
| $56.6M | 5.55% |
458,826
-118,625
| -21% | -$9.34M |
|
5
Canadian National Railway
CNI
$74.5B
| $54.9M | 5.38% |
324,110
-80,154
| -20% | -$9.13M |
|
6
BCE
BCE
$22.2B
| $44.2M | 4.34% |
1,445,763
-398,067
| -22% | -$9.55M |
|
|
7
CGI
GIB
$15.5B
| $38.3M | 3.76% |
417,469
+70,443
| +20% | +$4.8M |
|
8
Restaurant Brands International
QSR
$28B
| $36.8M | 3.61% |
357,508
-95,892
| -21% | -$7.3M |
|
9
Canadian Imperial Bank of Commerce
CM
$107B
| $36M | 3.53% |
220,139
-73,367
| -25% | -$8.05M |
|
10
Brookfield Infrastructure Partners
BIP
$17B
| $34.3M | 3.37% |
662,686
+25,485
| +4% | +$952K |
|
11
Canadian Natural Resources
CNQ
$105B
| $31.3M | 3.07% |
557,895
-139,144
| -20% | -$6.33M |
|
12
Suncor Energy
SU
$79.8B
| $31.2M | 3.06% |
408,759
-104,392
| -20% | -$6.61M |
|
13
Telus
TU
$15.3B
| $29.3M | 2.87% |
1,951,523
-151,713
| -7% | -$1.85M |
|
14
Nutrien
NTR
$38.5B
| $28.6M | 2.81% |
320,313
-114,665
| -26% | -$8.02M |
|
15
Manulife Financial
MFC
$73.9B
| $27.6M | 2.71% |
479,103
-209,690
| -30% | -$8.11M |
|
|
16
Brookfield
BN
$90.2B
| $26.6M | 2.61% |
439,774
-247,835
| -36% | -$11.1M |
|
17
Magna International
MGA
$17.9B
| $24.8M | 2.44% |
266,320
-126,695
| -32% | -$7.92M |
|
18
Brookfield Renewable
BEP
$9.33B
| $20.8M | 2.04% |
422,025
-150,364
| -26% | -$5.22M |
|
19
FirstService
FSV
$6.24B
| $13.5M | 1.33% |
66,993
+2,327
| +4% | +$323K |
|
20
Alphabet (Google) Class A
GOOGL
$4.19T
| $11.9M | 1.17% |
33,228
+14
| +0% | +$5.04K |
|
21
UnitedHealth
UNH
$360B
| $9.39M | 0.92% |
22,589
+34
| +0.2% | +$12.6K |
|
|
22
Jacobs Solutions
J
$17.3B
| $9.07M | 0.89% |
72,023
+18,878
| +36% | +$2.32M |
|
23
Visa
V
$707B
| $8.77M | 0.86% |
25,560
+2,344
| +10% | +$753K |
|
24
Thermo Fisher Scientific
TMO
$229B
| $8.42M | 0.83% |
16,787
+2,366
| +16% | +$1.14M |
|
25
US Bancorp
USB
$99B
| $8.4M | 0.82% |
139,095
+461
| +0.3% | +$25.8K |
|
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Lincluden Management's Q2 2026 Portfolio in Review
As of Q2 2026, Lincluden Management held 72 positions worth $1.02B, up 8.5% from $939M the previous quarter. Its ten largest holdings account for 53% of the portfolio.
Lincluden Management withdrew a net $202M in Q2 2026, closing 4 positions and reducing 35 holdings. Its most notable exit was Pembina Pipeline, an estimated $45.4M position sold in full.
By sector, the portfolio is most concentrated in Financials at 38% of assets, up from 32% a quarter earlier, followed by Energy and Communication Services.
Against the trend, Lincluden Management opened a new position in Descartes Systems worth $3.35M.
- Lincluden Management's largest Q2 2026 buy was Descartes Systems: 34,114 shares worth $3.35M.
- Lincluden Management added most to CGI in Q2 2026, an estimated $4.8M increase.
- Lincluden Management's biggest Q2 2026 reduction was Toronto Dominion Bank, cutting an estimated $17.9M.
- Lincluden Management fully exited Pembina Pipeline in Q2 2026, selling an estimated $45.4M.
- Lincluden Management's ten largest holdings make up 53% of its $1.02B portfolio in Q2 2026.
- Lincluden Management opened 2 new positions and closed 4 in Q2 2026.
- Lincluden Management's portfolio value rose 8.5% quarter-over-quarter to $1.02B.
Based on Lincluden Management's 13F filing for Q2 2026, filed 24 Jul 2026.