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Asset Manager ← All Institutions

Cardinal Capital Management

2626 GLENWOOD AVENUE SUITE 380, RALEIGH, NC 27608 • 919-532-7500

Q3 2025 · Filed 2025-10-23
Market Value
$722M
+6.0%
Holdings
131
New Purchases
4
Added To
99
Closed
1
Reduced
26
Top 10 Concentration
26.3%
Turnover
3.8%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
GOOGL 2.24% 1.75% +0.49% $16M
AAPL 3.09% 2.64% +0.45% $22M
JNJ 3.01% 2.62% +0.39% $22M
IDCC 0.71% 0.48% +0.23% $5M
BK 2.12% 1.89% +0.23% $15M
CMI 1.26% 1.03% +0.22% $9M
UTHR 0.70% 0.50% +0.20% $5M
PAHC 0.55% 0.36% +0.19% $4M
ENS 0.18% 0.00% +0.18% $1M
HALO 0.18% 0.00% +0.18% $1M
KE 0.44% 0.28% +0.16% $3M
YETI 0.15% 0.00% +0.15% $1M
IDXX 1.25% 1.12% +0.13% $9M
GOOG 0.50% 0.39% +0.11% $4M
LOW 1.67% 1.56% +0.11% $12M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
COST 2.68% 3.06% -0.38% $19M
DE 1.78% 2.10% -0.32% $13M
BMI 0.50% 0.80% -0.30% $4M
LLY 2.96% 3.20% -0.25% $21M
RHI 0.00% 0.24% -0.24% $0
SAP 1.01% 1.22% -0.21% $7M
ADP 1.76% 1.95% -0.19% $13M
MORN 0.45% 0.64% -0.19% $3M
IBM 1.73% 1.92% -0.19% $13M
MKC 0.95% 1.11% -0.17% $7M
DXCM 0.45% 0.61% -0.15% $3M
SBUX 1.07% 1.21% -0.14% $8M
MSFT 3.60% 3.73% -0.13% $26M
EMR 1.61% 1.74% -0.13% $12M
NVO 0.39% 0.50% -0.11% $3M

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Healthcare 22.4%
Technology 17.0%
Industrials 16.6%
Financial Services 13.2%
Consumer Defensive 10.0%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 26 $272M 37.6%
Large Cap 57 $327M 45.2%
Mid Cap 36 $95M 13.2%
Small Cap 9 $23M 3.2%
Micro Cap 3 $5M 0.7%

Portfolio Analytics

Avg Market Cap
$244.6B
Median Market Cap
$25.2B
Avg P/E
24.8
Median P/E
21.4
Avg Dividend Yield
0.02%
Avg Beta
0.85
# Stocks
129
# ETFs / Funds
2

Top Holdings (131 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 MSFT 3.60% 50,195 $26M $517.95 $609K -849 -1.7%
2 AAPL 3.09% 87,613 $22M $254.63 $4M -125 -0.1%
3 JNJ 3.01% 117,262 $22M $185.42 $4M +320 +0.3%
4 LLY 2.96% 27,998 $21M $763.01 -$460K +4 +0.0%
5 COST 2.68% 20,917 $19M $925.63 -$2M -166 -0.8%
6 JPM 2.58% 59,156 $19M $315.43 $1M -653 -1.1%
7 GOOGL 2.24% 66,666 $16M $243.10 $4M -1,174 -1.7%
8 WMT 2.24% 157,032 $16M $103.06 $685K -1,474 -0.9%
9 BK 2.12% 140,370 $15M $108.96 $2M -1,002 -0.7%
10 XOM 1.80% 115,204 $13M $112.75 $631K +559 +0.5%
11 DE 1.78% 28,059 $13M $458.86 -$1M -27 -0.1%
12 ADP 1.76% 43,068 $13M $295.03 -$604K +120 +0.3%
13 IBM 1.73% 44,323 $13M $282.16 -$550K +33 +0.1%
14 LOW 1.67% 48,141 $12M $251.31 $1M +106 +0.2%
15 ECL 1.63% 42,853 $12M $274.50 $206K +60 +0.1%
16 EMR 1.61% 88,913 $12M $131.18 -$197K -41 -0.1%
17 QCOM 1.58% 68,439 $11M $166.36 $542K +351 +0.5%
18 ITW 1.56% 42,968 $11M $262.35 $650K +260 +0.6%
19 LH 1.51% 38,012 $11M $287.06 $979K +174 +0.5%
20 CSCO 1.49% 156,922 $11M $68.42 -$140K +159 +0.1%
21 A 1.33% 74,791 $10M $128.59 $937K +1,230 +1.7%
22 TFC 1.31% 206,940 $9M $45.72 $635K +1,621 +0.8%
23 NFG 1.28% 99,775 $9M $92.90 $848K +981 +1.0%
24 CMI 1.26% 21,479 $9M $422.37 $2M -19 -0.1%
25 IDXX 1.25% 14,178 $9M $638.89 $1M -90 -0.6%
26 PG 1.22% 57,437 $9M $153.65 -$206K +753 +1.3%
27 COP 1.18% 89,942 $9M $94.59 $498K +687 +0.8%
28 MMM 1.16% 54,084 $8M $155.18 $266K +705 +1.3%
29 MRK 1.11% 94,940 $8M $84.73 $629K +2,203 +2.4%
30 MDT 1.09% 82,142 $8M $95.94 $787K +1,412 +1.8%
31 SBUX 1.07% 91,481 $8M $84.60 -$491K +1,664 +1.9%
32 HAS 1.04% 98,960 $8M $75.85 $287K +1,168 +1.2%
33 AGX 1.01% 27,080 $7M $270.05 $586K -3,430 -11.2%
34 TROW 1.01% 71,216 $7M $102.64 $608K +1,773 +2.5%
35 SAP 1.01% 27,222 $7M $267.21 -$1M -5 -0.0%
36 KEYS 0.96% 39,844 $7M $174.92 $467K +160 +0.4%
37 MKC 0.95% 102,380 $7M $66.91 -$746K +2,196 +2.2%
38 GIS 0.94% 134,783 $7M $50.42 -$16K +3,306 +2.5%
39 STT 0.89% 55,527 $6M $116.01 $551K +133 +0.2%
40 NVS 0.88% 49,561 $6M $128.24 $425K +548 +1.1%
41 FFIV 0.84% 18,739 $6M $323.19 $611K +237 +1.3%
42 BDX 0.84% 32,324 $6M $187.17 $651K +982 +3.1%
43 USLM 0.81% 44,533 $6M $131.55 $120K -12,961 -22.5%
44 RY 0.81% 39,711 $6M $147.32 $677K +385 +1.0%
45 CW 0.79% 10,523 $6M $543.18 -$95K -1,366 -11.5%
46 KO 0.76% 82,489 $6M $66.83 -$350K +212 +0.3%
47 ODC 0.74% 87,671 $5M $61.04 -$251K -7,304 -7.7%
48 IDCC 0.71% 14,757 $5M $345.23 $2M +222 +1.5%
49 UTHR 0.70% 12,084 $5M $419.21 $2M +208 +1.8%
50 VEEV 0.68% 16,602 $5M $297.91 $213K +166 +1.0%
51 RJF 0.68% 28,263 $5M $172.60 -$98K -4,180 -12.9%
52 REGN 0.66% 8,431 $5M $562.27 $375K +115 +1.4%
53 PEP 0.64% 33,147 $5M $140.44 $297K +143 +0.4%
54 BMY 0.64% 103,213 $5M $45.10 -$24K +2,140 +2.1%
55 TM 0.64% 24,088 $5M $191.09 $511K +333 +1.4%
56 TDY 0.61% 7,551 $4M $586.04 $536K -41 -0.5%
57 FDX 0.59% 17,821 $4M $237.16 $190K +176 +1.0%
58 SHEL 0.57% 57,331 $4M $71.53 $104K +564 +1.0%
59 ESLT 0.56% 7,869 $4M $509.80 $514K +97 +1.2%
60 PAHC 0.55% 98,975 $4M $40.46 $2M +2,336 +2.4%
61 BNS 0.55% 61,388 $4M $64.65 $648K +1,314 +2.2%
62 CACI 0.55% 7,915 $4M $498.78 $70K -219 -2.7%
63 SNA 0.54% 11,197 $4M $346.53 $406K +32 +0.3%
64 BCPC 0.53% 25,677 $4M $150.06 -$267K -201 -0.8%
65 PSX 0.53% 28,205 $4M $136.02 $504K +273 +1.0%
66 TD 0.51% 46,416 $4M $79.95 $342K +545 +1.2%
67 BMI 0.50% 20,090 $4M $178.58 -$2M -2,114 -9.5%
68 GOOG 0.50% 14,705 $4M $243.55 $958K -85 -0.6%
69 SR 0.49% 42,693 $4M $82.30 $510K +1,980 +4.9%
70 SNY 0.48% 72,832 $3M $47.20 $6K +1,790 +2.5%
71 DXCM 0.45% 48,847 $3M $67.29 -$839K +1,575 +3.3%
72 HBAN 0.45% 188,572 $3M $17.42 $143K +2,768 +1.5%
73 DLB 0.45% 44,943 $3M $72.37 -$21K +865 +2.0%
74 WBS 0.45% 54,465 $3M $59.44 $342K +1,427 +2.7%
75 MORN 0.45% 13,902 $3M $232.01 -$1M +48 +0.3%
76 SYNA 0.44% 46,585 $3M $68.34 $343K +2,759 +6.3%
77 KE 0.44% 106,198 $3M $29.86 $1M +5,640 +5.6%
78 MASI 0.43% 21,180 $3M $147.55 -$279K +943 +4.7%
79 LSTR 0.41% 24,324 $3M $122.56 -$388K +90 +0.4%
80 CRUS 0.41% 23,660 $3M $125.29 $525K +258 +1.1%
81 NVO 0.39% 50,628 $3M $55.49 -$612K +1,052 +2.1%
82 TTE 0.38% 44,748 $3M $60.69 -$25K +789 +1.8%
83 BSAC 0.37% 102,098 $3M $26.50 $184K +2,124 +2.1%
84 DD 0.37% 34,460 $3M $77.90 $356K +515 +1.5%
85 GSK 0.37% 61,493 $3M $43.58 $344K +1,327 +2.2%
86 JKHY 0.36% 17,258 $3M $148.93 -$522K +97 +0.6%
87 FNB 0.36% 159,465 $3M $16.11 $519K +18,850 +13.4%
88 GGG 0.35% 29,362 $2M $84.96 -$97K -788 -2.6%
89 OZK 0.34% 48,702 $2M $50.98 $216K +533 +1.1%
90 UL 0.34% 41,766 $2M $59.28 -$25K +881 +2.1%
91 VC 0.33% 20,000 $2M $119.86 $531K +2 +0.0%
92 LNN 0.33% 17,002 $2M $140.56 -$2K +421 +2.5%
93 UNB 0.33% 96,203 $2M $24.76 $132K +11,692 +13.8%
94 PLPC 0.33% 12,074 $2M $196.15 $551K +700 +6.2%
95 CFR 0.32% 18,036 $2M $126.77 -$5K +212 +1.2%
96 SAM 0.31% 10,746 $2M $211.42 $454K +1,216 +12.8%
97 GNTX 0.29% 73,667 $2M $28.30 $628K +7,430 +11.2%
98 UPS 0.29% 24,799 $2M $83.53 -$370K +612 +2.5%
99 NXPI 0.27% 8,416 $2M $228.73 $101K +104 +1.2%
100 JAZZ 0.26% 14,472 $2M $131.80 $422K +475 +3.4%

New Positions

SymbolValue% Port
ENS $1M 0.18%
HALO $1M 0.18%
YETI $1M 0.15%
TSM $287K 0.04%

Sold Out Positions

SymbolValue% Port
RHI —%
View SEC EDGAR Filings for Cardinal Capital Management →

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