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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
-5.49%
1 Year Est. Return
+31.43%
3 Year Est. Return
+47%
5 Year Est. Return
+49.95%
10 Year Est. Return
+133.14%
AUM
$826M
AUM Growth
-$90.7M
Cap. Flow
-$33M
Cap. Flow %
-4%
Top 10 Hldgs %
53.58%
Holding
74
New
2
Increased
13
Reduced
55
Closed
1

Top Buys

Rank Stock Value
1
CNI icon
Canadian National Railway
CNI
+$9.42M
2
BCE icon
BCE
BCE
+$6.84M
3
TD icon
Toronto Dominion Bank
TD
+$6.8M
4
BXP icon
Boston Properties
BXP
+$3.14M
5
BEP icon
Brookfield Renewable
BEP
+$779K

Top Sells

Rank Stock Value
1
CM icon
Canadian Imperial Bank of Commerce
CM
+$18.6M
2
TRP icon
TC Energy
TRP
+$7.78M
3
MFC icon
Manulife Financial
MFC
+$6.02M
4
MGA icon
Magna International
MGA
+$5.95M
5
BN icon
Brookfield
BN
+$3.48M

Sector Composition

Rank Sector Weight
1 Financials 39.3%
2 Energy 13.58%
3 Communication Services 11.39%
4 Real Estate 7.13%
5 Consumer Discretionary 7.06%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
RY icon
1
Royal Bank of Canada
RY
$292B
$71.3M 8.63%
591,555
-14,614
-2% -$1.8M
TD icon
2
Toronto Dominion Bank
TD
$199B
$63.2M 7.65%
1,187,112
+121,231
+11% +$6.8M
TRP icon
3
TC Energy
TRP
$71.4B
$49.1M 5.95%
1,054,407
-164,440
-13% -$7.78M
BN icon
4
Brookfield
BN
$104B
$46.6M 5.65%
1,217,222
-92,487
-7% -$3.48M
BNS icon
5
Scotiabank
BNS
$107B
$42.4M 5.13%
789,620
-22,796
-3% -$1.23M
BCE icon
6
BCE
BCE
$20.2B
$37.5M 4.53%
1,615,956
+237,903
+17% +$6.84M
CNI icon
7
Canadian National Railway
CNI
$76.9B
$36.8M 4.46%
362,587
+86,096
+31% +$9.42M
MFC icon
8
Manulife Financial
MFC
$70.6B
$35.4M 4.29%
1,153,282
-194,461
-14% -$6.02M
CM icon
9
Canadian Imperial Bank of Commerce
CM
$108B
$31.7M 3.84%
501,798
-293,248
-37% -$18.6M
PBA icon
10
Pembina Pipeline
PBA
$29.5B
$28.5M 3.45%
771,535
-22,011
-3% -$897K
MGA icon
11
Magna International
MGA
$18B
$27.7M 3.35%
661,661
-138,611
-17% -$5.95M
TU icon
12
Telus
TU
$16.1B
$26.6M 3.22%
1,959,730
+19,196
+1% +$296K
SU icon
13
Suncor Energy
SU
$73.5B
$22.4M 2.71%
627,334
-7,000
-1% -$269K
BIP icon
14
Brookfield Infrastructure Partners
BIP
$18B
$19.1M 2.31%
599,739
-19,569
-3% -$667K
QSR icon
15
Restaurant Brands International
QSR
$25.7B
$15.8M 1.91%
241,713
-7,466
-3% -$518K
BEP icon
16
Brookfield Renewable
BEP
$9.72B
$15.6M 1.89%
686,764
+30,513
+5% +$779K
CSCO icon
17
Cisco
CSCO
$436B
$13.4M 1.62%
226,319
-580
-0.3% -$33.1K
ORCL icon
18
Oracle
ORCL
$350B
$11.8M 1.43%
70,979
-7,131
-9% -$1.27M
VZ icon
19
Verizon
VZ
$182B
$10.6M 1.28%
265,349
-1,892
-0.7% -$79.8K
PFE icon
20
Pfizer
PFE
$141B
$10.2M 1.24%
385,837
-1,271
-0.3% -$34.5K
GOOGL icon
21
Alphabet (Google) Class A
GOOGL
$4.3T
$9.46M 1.15%
49,971
-233
-0.5% -$40.8K
MSFT icon
22
Microsoft
MSFT
$2.99T
$8.24M 1%
19,540
-130
-0.7% -$55.4K
KR icon
23
Kroger
KR
$35.8B
$7.71M 0.93%
126,024
-799
-0.6% -$46.9K
FSV icon
24
FirstService
FSV
$6.75B
$7.55M 0.91%
41,667
+3,934
+10% +$735K
USB icon
25
US Bancorp
USB
$98.4B
$7.35M 0.89%
153,657
-787
-0.5% -$38.7K
1
2 3

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PGA
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OCM
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Lincluden Management's Q4 2024 Portfolio in Review

As of Q4 2024, Lincluden Management held 74 positions worth $826M, down 9.9% from $917M the previous quarter. Its ten largest holdings account for 54% of the portfolio.

Lincluden Management withdrew a net $33M in Q4 2024, closing 1 position and reducing 55 holdings. Its most notable exit was Stryker, an estimated $7K position sold in full.

By sector, the portfolio is most concentrated in Financials at 39% of assets, up from 39% a quarter earlier, followed by Energy and Communication Services.

Against the trend, Lincluden Management opened a new position in Boston Properties worth $2.88M.

  • Lincluden Management's largest Q4 2024 buy was Boston Properties: 38,668 shares worth $2.88M.
  • Lincluden Management added most to Canadian National Railway in Q4 2024, an estimated $9.42M increase.
  • Lincluden Management's biggest Q4 2024 reduction was Canadian Imperial Bank of Commerce, cutting an estimated $18.6M.
  • Lincluden Management fully exited Stryker in Q4 2024, selling an estimated $7K.
  • Lincluden Management's ten largest holdings make up 54% of its $826M portfolio in Q4 2024.
  • Lincluden Management opened 2 new positions and closed 1 in Q4 2024.
  • Lincluden Management's portfolio value fell 9.9% quarter-over-quarter to $826M.

Based on Lincluden Management's 13F filing for Q4 2024, filed 4 Feb 2025.