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LINCLUDEN MANAGEMENT LTD

Q3 2025 · Filed 2025-11-14
Market Value
$888M
-0.9%
Holdings
75
+2
New Purchases
2
Added To
16
Closed
9
Reduced
41
Top 10 Concentration
51.9%
Turnover
14.7%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
QSR 4.87% 3.42% +1.44% $43M
LEN 0.94% 0.00% +0.94% $8M
SAP 0.83% 0.17% +0.65% $7M
PBA 4.20% 3.60% +0.60% $37M
BCE 5.09% 4.59% +0.50% $45M
MGA 3.55% 3.11% +0.44% $32M
BNS 5.05% 4.71% +0.34% $45M
EQIX 0.51% 0.23% +0.28% $5M
KBH 0.22% 0.00% +0.22% $2M
GOOGL 1.20% 0.98% +0.22% $11M
GLW 0.59% 0.38% +0.21% $5M
TRP 5.03% 4.83% +0.20% $45M
TMO 0.81% 0.62% +0.19% $7M
J 0.72% 0.54% +0.17% $6M
TRNO 0.40% 0.26% +0.14% $4M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
BIP 0.00% 2.15% -2.15% $0
ORCL 0.00% 1.28% -1.28% $0
TU 2.93% 3.42% -0.50% $26M
CNC 0.00% 0.48% -0.48% $0
ORAN 0.00% 0.40% -0.40% $0
FRT 0.45% 0.83% -0.38% $4M
CSCO 1.13% 1.49% -0.35% $10M
MFC 3.00% 3.34% -0.34% $27M
CPT 0.00% 0.34% -0.34% $0
NTR 3.56% 3.85% -0.29% $32M
CNI 4.58% 4.84% -0.26% $41M
KR 0.00% 0.25% -0.25% $0
VET 0.00% 0.23% -0.23% $0
DIS 0.39% 0.54% -0.15% $3M
BEP 1.73% 1.89% -0.15% $15M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 18 $165M 18.6%
Large Cap 46 $688M 77.4%
Mid Cap 9 $31M 3.5%
Small Cap 2 $5M 0.5%

Portfolio Analytics

Avg Market Cap
$231.7B
Median Market Cap
$69.8B
Avg P/E
27.7
Median P/E
20.3
Avg Dividend Yield
0.03%
Avg Beta
0.87
# Stocks
75
# ETFs / Funds
0

Top Holdings (75 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 TD 8.11% 906,632 $72M $79.49 -$2M -94,507 -9.4%
2 RY 7.32% 443,782 $65M $146.51 -$251K -51,926 -10.5%
3 BCE 5.09% 1,947,511 $45M $23.23 $4M +89,824 +4.8%
4 BNS 5.05% 698,397 $45M $64.28 $3M -66,463 -8.7%
5 TRP 5.03% 825,906 $45M $54.05 $1M -61,696 -7.0%
6 QSR 4.87% 484,125 $43M $89.28 $13M +21,167 +4.6%
7 CNI 4.58% 434,344 $41M $93.74 -$3M +17,257 +4.1%
8 PBA 4.20% 927,892 $37M $40.19 $5M +68,013 +7.9%
9 BN 4.06% 529,379 $36M $68.21 -$451K -61,836 -10.5%
10 NTR 3.56% 541,282 $32M $58.38 -$3M -50,746 -8.6%
11 MGA 3.55% 669,153 $32M $47.10 $4M -51,954 -7.2%
12 CM 3.45% 385,862 $31M $79.44 -$67K -47,282 -10.9%
13 MFC 3.00% 861,530 $27M $30.97 -$3M -76,800 -8.2%
14 TU 2.93% 1,660,506 $26M $15.66 -$5M -251,973 -13.2%
15 SU 2.61% 557,712 $23M $41.60 $537K -47,877 -7.9%
16 CNQ 2.51% 700,082 $22M $31.79 -$1M -48,220 -6.4%
17 BEP 1.73% 601,344 $15M $25.62 -$1M -62,108 -9.4%
18 VZ 1.26% 254,696 $11M $43.95 $137K -833 -0.3%
19 GOOGL 1.20% 43,831 $11M $243.09 $2M -6,038 -12.1%
20 PFE 1.18% 412,028 $10M $25.48 $473K -1,530 -0.4%
21 CSCO 1.13% 147,274 $10M $68.42 -$3M -45,009 -23.4%
22 MSFT 1.09% 18,694 $10M $517.97 $334K -101 -0.5%
23 LEN 0.94% 66,066 $8M $126.04 +66,066 NEW
24 AMT 0.89% 41,175 $8M $192.33 -$1M +775 +1.9%
25 FSV 0.88% 41,080 $8M $189.41 $202K -2,390 -5.5%
26 SAP 0.83% 27,439 $7M $267.21 $6M +22,333 +437.4%
27 TMO 0.81% 14,749 $7M $485.05 $2M +1,121 +8.2%
28 BAC 0.80% 138,471 $7M $51.59 $552K -826 -0.6%
29 USB 0.79% 145,272 $7M $48.33 $402K -1,000 -0.7%
30 J 0.72% 42,445 $6M $149.86 $1M +5,443 +14.7%
31 CIGI 0.72% 40,891 $6M $155.46 $331K +2,464 +6.4%
32 JPM 0.68% 19,098 $6M $315.43 $461K -92 -0.5%
33 ING 0.67% 227,259 $6M $26.08 $721K -10,781 -4.5%
34 HD 0.63% 13,794 $6M $405.18 $499K -89 -0.6%
35 DEO 0.62% 57,835 $6M $95.43 -$332K -191 -0.3%
36 WMT 0.61% 52,164 $5M $103.06 $224K -521 -1.0%
37 GLW 0.59% 63,998 $5M $82.03 $2M -381 -0.6%
38 MS 0.58% 32,146 $5M $158.96 $548K -240 -0.7%
39 COST 0.57% 5,432 $5M $925.63 $301K +657 +13.8%
40 UNH 0.56% 14,322 $5M $345.27 $450K -86 -0.6%
41 EOG 0.51% 40,739 $5M $112.13 $595K +7,519 +22.6%
42 EQIX 0.51% 2,585 $5M $1,767.12 $3M
43 RMR 0.51% 290,000 $5M $15.73 -$180K
44 C 0.50% 43,968 $4M $101.51 $696K -292 -0.7%
45 GIB 0.50% 50,371 $4M $88.54 -$882K +7,921 +18.7%
46 WELL 0.47% 23,650 $4M $178.14 $577K
47 GNTX 0.47% 146,168 $4M $28.30 $902K -929 -0.6%
48 ULTA 0.45% 7,342 $4M $546.72 $556K -49 -0.7%
49 FRT 0.45% 39,591 $4M $101.31 -$3M -39,034 -49.6%
50 GIL 0.41% 63,594 $4M $57.43 $551K +620 +1.0%
51 TRNO 0.40% 62,157 $4M $56.74 $1M +20,906 +50.7%
52 RCI 0.39% 101,894 $3M $34.22 $499K +1,083 +1.1%
53 DIS 0.39% 29,947 $3M $114.50 -$1M -8,874 -22.9%
54 TSCO 0.37% 58,363 $3M $56.87 $222K -317 -0.5%
55 TJX 0.37% 22,649 $3M $144.55 $454K -186 -0.8%
56 SHEL 0.35% 43,956 $3M $71.53 $36K -182 -0.4%
57 SUI 0.33% 22,478 $3M $129.02 $57K
58 AVB 0.32% 14,565 $3M $193.13 $283K +2,132 +17.1%
59 GSK 0.30% 61,480 $3M $43.15 $271K -540 -0.9%
60 JNJ 0.27% 12,950 $2M $185.41 $400K -148 -1.1%
61 EXR 0.27% 16,794 $2M $140.94 -$109K
62 BEPC 0.24% 62,884 $2M $34.22 $89K -124 -0.2%
63 SPG 0.22% 10,519 $2M $187.66 $283K
64 KBH 0.22% 30,884 $2M $63.63 +30,884 NEW
65 TTE 0.21% 30,745 $2M $59.68 -$64K -189 -0.6%
66 BXP 0.18% 21,246 $2M $74.32 $146K
67 VET —% -$2M -278,465 -100.0% SOLD
68 ORCL —% -$11M -52,460 -100.0% SOLD
69 CVE —% -$323K -19,800 -100.0% SOLD
70 ORAN —% -$4M -238,840 -100.0% SOLD
71 CPT —% -$3M -26,705 -100.0% SOLD
72 COLD —% -$1M -77,246 -100.0% SOLD
73 BIP —% -$19M -576,851 -100.0% SOLD
74 CNC —% -$4M -78,973 -100.0% SOLD
75 KR —% -$2M -30,610 -100.0% SOLD

New Positions

SymbolValue% Port
LEN $8M 0.94%
KBH $2M 0.22%

Sold Out Positions

SymbolValue% Port
VET —%
CVE —%
COLD —%
CNC —%
CPT —%
BIP —%
KR —%
ORCL —%
ORAN —%
View SEC EDGAR Filings for LINCLUDEN MANAGEMENT LTD →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms