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Lincluden Management Portfolio holdings

AUM $939M
1-Year Est. Return 31.43%
This Fund
S&P 500
This Quarter Est. Return
+6.14%
1 Year Est. Return
+31.43%
3 Year Est. Return
+47%
5 Year Est. Return
+49.95%
10 Year Est. Return
+133.14%
AUM
$1.18B
AUM Growth
+$279M
Cap. Flow
-$14.2M
Cap. Flow %
-1.2%
Top 10 Hldgs %
54.34%
Holding
72
New
3
Increased
9
Reduced
50
Closed
1

Top Buys

Rank Stock Value
1
BIP icon
Brookfield Infrastructure Partners
BIP
+$22.4M
2
BGSI
Boyd Group Services
BGSI
+$5.11M
3
DEO icon
Diageo
DEO
+$3.86M
4
TU icon
Telus
TU
+$2.27M
5
GSK icon
GSK
GSK
+$1.84M

Top Sells

Rank Stock Value
1
TD icon
Toronto Dominion Bank
TD
+$6.52M
2
MFC icon
Manulife Financial
MFC
+$5.65M
3
CM icon
Canadian Imperial Bank of Commerce
CM
+$4.84M
4
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$3.53M
5
RY icon
Royal Bank of Canada
RY
+$2.54M

Sector Composition

Rank Sector Weight
1 Financials 36.85%
2 Energy 15.3%
3 Consumer Discretionary 10.64%
4 Communication Services 10.49%
5 Industrials 5.4%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CIGI icon
26
Colliers International
CIGI
$5.21B
$8.25M 0.7%
40,891
– –
MSFT icon
27
Microsoft
MSFT
$2.93T
$8.22M 0.7%
16,997
-1,697
-9% -$850K
LEN icon
28
Lennar Class A
LEN
$20.2B
$7.19M 0.61%
69,917
+3,851
+6% +$465K
USB icon
29
US Bancorp
USB
$98.4B
$7.07M 0.6%
132,444
-12,828
-9% -$631K
BGSI
30
Boyd Group Services
BGSI
$2.9B
$6.97M 0.59%
+31,892
New +$5.11M
BAC icon
31
Bank of America
BAC
$430B
$6.96M 0.59%
126,604
-11,867
-9% -$627K
AMT icon
32
American Tower
AMT
$79.2B
$6.94M 0.59%
39,510
-1,665
-4% -$303K
J icon
33
Jacobs Solutions
J
$15.6B
$6.68M 0.57%
50,397
+7,952
+19% +$1.17M
SAP icon
34
SAP
SAP
$186B
$6.66M 0.57%
27,410
-29
-0.1% -$7.39K
TMO icon
35
Thermo Fisher Scientific
TMO
$198B
$6.51M 0.55%
11,243
-3,506
-24% -$1.98M
GIB icon
36
CGI
GIB
$14.3B
$6.3M 0.54%
49,716
-655
-1% -$58.4K
ING icon
37
ING
ING
$92.4B
$5.83M 0.5%
208,280
-18,979
-8% -$489K
JPM icon
38
JPMorgan Chase
JPM
$907B
$5.7M 0.48%
17,687
-1,411
-7% -$437K
GIL icon
39
Gildan
GIL
$10B
$5.33M 0.45%
62,103
-1,491
-2% -$88.6K
RCI icon
40
Rogers Communications
RCI
$18.7B
$5.16M 0.44%
99,632
-2,262
-2% -$84.8K
GLW icon
41
Corning
GLW
$133B
$5.12M 0.43%
58,455
-5,543
-9% -$477K
MS icon
42
Morgan Stanley
MS
$339B
$4.69M 0.4%
26,422
-5,724
-18% -$955K
WMT icon
43
Walmart Inc
WMT
$909B
$4.65M 0.4%
41,755
-10,409
-20% -$1.12M
C icon
44
Citigroup
C
$217B
$4.58M 0.39%
39,216
-4,752
-11% -$493K
EOG icon
45
EOG Resources
EOG
$74.5B
$4.57M 0.39%
40,739
– –
COST icon
46
Costco
COST
$417B
$4.36M 0.37%
5,058
-374
-7% -$339K
UNH icon
47
UnitedHealth
UNH
$387B
$4.32M 0.37%
13,099
-1,223
-9% -$414K
RMR icon
48
The RMR Group
RMR
$353M
$4.32M 0.37%
290,000
– –
HD icon
49
Home Depot
HD
$338B
$4.32M 0.37%
12,544
-1,250
-9% -$458K
FRT icon
50
Federal Realty Investment Trust
FRT
$10.9B
$3.99M 0.34%
39,591
– –
1
2
3

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IFWM
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PGA
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OCM
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SAM
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MPMG
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CM
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NM
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Lincluden Management's Q4 2025 Portfolio in Review

As of Q4 2025, Lincluden Management held 72 positions worth $1.18B, up 31% from $898M the previous quarter. Its ten largest holdings account for 54% of the portfolio.

Lincluden Management's Q4 2025 filing shows 3 new, 9 increased, 50 reduced and 1 closed positions. Its largest new stake was Brookfield Infrastructure Partners: 643,160 shares worth $30.7M. The largest sale was Toronto Dominion Bank, an estimated $6.52M.

By sector, the portfolio is most concentrated in Financials at 37% of assets, up from 35% a quarter earlier, followed by Energy and Consumer Discretionary.

  • Lincluden Management's largest Q4 2025 buy was Brookfield Infrastructure Partners: 643,160 shares worth $30.7M.
  • Lincluden Management added most to Diageo in Q4 2025, an estimated $3.86M increase.
  • Lincluden Management's biggest Q4 2025 reduction was Toronto Dominion Bank, cutting an estimated $6.52M.
  • Lincluden Management fully exited Brookfield Wealth Solutions in Q4 2025, selling an estimated $65K.
  • Lincluden Management's ten largest holdings make up 54% of its $1.18B portfolio in Q4 2025.
  • Lincluden Management opened 3 new positions and closed 1 in Q4 2025.
  • Lincluden Management's portfolio value rose 31% quarter-over-quarter to $1.18B.

Based on Lincluden Management's 13F filing for Q4 2025, filed 30 Jan 2026.