Cardinal Capital Management, Inc.
Sector Allocation
- Financials23.8%$1.0B
- Energy21.2%$935.7M
- Other20.2%$891.1M
- Industrials10.1%$442.8M
- Technology9.2%$405.7M
- Consumer Discretionary4.8%$209.5M
- Healthcare3.5%$155.2M
- Real Estate3.1%$138.9M
- Utilities1.8%$80.7M
- Materials1.6%$70.7M
AUM History
13fpro.ai/research/fund/cardinal-capital-management-inc-1518235
Conviction and streaks
Concentrating · top 10 = 46.2%From the fund's last 12 quarters of 13F filings: positions held longest at size, and names it added to or trimmed several quarters running.
Largest positions — Q3 2026
SU
$430.4MPBA
$329.2MMFC
$175.1MRY
$174.9MBNS
$169.4MBMO
$164.9MCM
$155.4MCP
$147.9MTRP
$147.3M- CCL$142.9M
CNI
$142.0MGIL
$141.4M- Intact$129.6M
BN
$121.5M- Saputo$118.5M
STN
$109.5M- National$106.1M
SLF
$91.9M- Canadian$90.5M
- Element$80.9M
Top 20 stock positions. Options are left out: 13F reports them at the underlying's value.
13fpro.ai/research/fund/cardinal-capital-management-inc-1518235
Cardinal Capital Management, Inc. 13F holdings — Q3 2026
$4.4B portfolio (+6.6% QoQ) · 72 holdings · Q3 2026 13F · top 10 are 46% of the stock portfolio
$430.4M
9.8% of stocks
+101%This quarter+1.8%Since filed14+ qtrsHeld$329.2M
7.5% of stocks
+102%This quarter+0.4%Since filed14+ qtrsHeld$175.1M
4.0% of stocks
-12%This quarter+0.7%Since filed14+ qtrsHeld$174.9M
4.0% of stocks
-0.6%This quarter+2.4%Since filed14+ qtrsHeld$169.4M
3.8% of stocks
-8%This quarter+1.8%Since filed14+ qtrsHeld$164.9M
3.7% of stocks
-2%This quarter+2.0%Since filed14+ qtrsHeld$155.4M
3.5% of stocks
-8%This quarter+2.7%Since filed14+ qtrsHeldAIQualityAI quality score is Pro: unlock with a free trialEst. buyEstimated buy price is Pro: unlock with a free trialTrimmed 4 qtrs in a row$147.9M
3.4% of stocks
+2%This quarter+2.8%Since filed14+ qtrsHeldAIQualityAI quality score is Pro: unlock with a free trialEst. buyEstimated buy price is Pro: unlock with a free trialAdded 5 qtrs in a row$147.3M
3.3% of stocks
-0.6%This quarter+1.2%Since filed14+ qtrsHeld- 10
CCL Industries Inc. - COM
$142.9M
3.2% of stocks
+3%This quarter—Since filed—HeldAIQuality—Est. buy—
All holdings — Cardinal Capital Management, Inc. (Q3 2026)
72 disclosed positions from the Form 13F-HR on SEC EDGAR, with quarter-over-quarter share changes. Largest by value first; the ten above are not repeated.
| # | Company | Held | Source | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 11 | CANADIAN NATIONAL RAILWAY CO | Industrials | $142.0M | 3.2% | 1.19M | -5% | 14+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 12 | Gildan Activewear Inc. | Consumer Discretionary | $141.4M | 3.2% | 3.31M | +9% | 14+ qtrsAdded 3 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 13 | — | Intact Financial Corp - COM | — | $129.6M | 2.9% | 748K | +3% | — | — | 13F |
| 14 | BROOKFIELD Corp /ON/ | Real Estate | $121.5M | 2.8% | 3.32M | +2% | 11 qtrsAdded 3 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 15 | — | Saputo Inc. - COM | — | $118.5M | 2.7% | 4.20M | +1% | — | — | 13F |
| 16 | STANTEC INC | Technology | $109.5M | 2.5% | 1.62M | New | 1 qtr | AI quality score is Pro: unlock with a free trial | 13F | |
| 17 | — | National Bank of Canada - COM | — | $106.1M | 2.4% | 742K | -0.7% | — | — | 13F |
| 18 | SUN LIFE FINANCIAL INC | Financials | $91.9M | 2.1% | 1.18M | +0.6% | 14+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 19 | — | Canadian Tire Corp. Ltd. - Cla - COM | — | $90.5M | 2.0% | 666K | -34% | — | — | 13F |
| 20 | — | Element Fleet Management Corp. - COM | — | $80.9M | 1.8% | 5.07M | +2% | — | — | 13F |
| 21 | AbbVie Inc. | Healthcare | $64.1M | 1.5% | 245K | -10% | 14+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 22 | NXP Semiconductors N.V.adr | Technology | $57.6M | 1.3% | 242K | +52% | 11 qtrsAdded 9 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 23 | APPLIED MATERIALS INC /DE | Technology | $51.9M | 1.2% | 102K | -0.2% | 11 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 24 | TAIWAN SEMICONDUCTOR MANUFACTURING CO LTDadr | Technology | $49.6M | 1.1% | 109K | +1% | 5 qtrsAdded 5 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 25 | UNITED RENTALS, INC. | Industrials | $49.3M | 1.1% | 49K | -0.9% | 9 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 26 | $CMI | CUMMINS INC | Industrials | $48.5M | 1.1% | 94K | -2% | |||
| 27 | — | Exchange Income Corp. - COM | — | $48.2M | 1.1% | 551K | +13% | |||
| 28 | — | Siemens AG - ADR - SPONSORED ADR | — | $45.7M | 1.0% | 294K | +0.3% | |||
| 29 | $V | VISA INC. | Financials | $43.2M | 1.0% | 120K | +2% | |||
| 30 | — | Schneider Electric SE - ADR - SPONSORED ADR | — | $41.3M | 0.9% | 628K | +0.8% | |||
| 31 | $MSFT | MICROSOFT CORP | Technology | $41.3M | 0.9% | 80K | +0.8% | |||
| 32 | $APD | Air Products & Chemicals, Inc. | Materials | $38.5M | 0.9% | 138K | +0.2% | |||
| 33 | $AVGO | Broadcom Inc. | Technology | $38.4M | 0.9% | 109K | +24% | |||
| 34 | $WFC | WELLS FARGO & COMPANY/MN | Financials | $37.8M | 0.9% | 472K | +0.8% | |||
| 35 | $CARR | CARRIER GLOBAL Corp | Industrials | $37.7M | 0.9% | 687K | +19% | |||
| 36 | $TEL | TE Connectivity plc | Technology | $37.2M | 0.8% | 176K | +13% | |||
| 37 | $NEE | NEXTERA ENERGY INC | Utilities | $34.9M | 0.8% | 461K | +5% | |||
| 38 | $ETR | ENTERGY CORP /DE/ | Utilities | $34.5M | 0.8% | 348K | +7% | |||
| 39 | $HD | HOME DEPOT, INC. | Consumer Discretionary | $34.5M | 0.8% | 121K | +0.9% | |||
| 40 | $BKNG | Booking Holdings Inc. | Consumer Discretionary | $33.6M | 0.8% | 206K | +0.2% | |||
| 41 | $NTR | Nutrien Ltd. | Materials | $32.0M | 0.7% | 454K | +1% | |||
| 42 | $BDX | BECTON DICKINSON & CO | Healthcare | $31.8M | 0.7% | 177K | -0.5% | |||
| 43 | — | Boardwalk Real Estate Investme - COM | — | $30.8M | 0.7% | 711K | +0.8% | |||
| 44 | $MRK | Merck & Co., Inc. | Healthcare | $29.7M | 0.7% | 204K | -1% | |||
| 45 | $MDT | Medtronic plc | Healthcare | $29.4M | 0.7% | 341K | +3% | |||
| 46 | — | Enel SpA - ADR - SPONSORED ADR | — | $28.0M | 0.6% | 2.83M | -1% | |||
| 47 | $UL | UNILEVER PLC | Consumer Staples | $27.4M | 0.6% | 450K | +2% | |||
| 48 | $SAP | SAP SE | Technology | $19.0M | 0.4% | 91K | -0.1% | |||
| 49 | $USB | US BANCORP \DE\ | Financials | $18.8M | 0.4% | 325K | -0.3% | |||
| 50 | $COP | CONOCOPHILLIPS | Energy | $18.0M | 0.4% | 144K | +3% | |||
| 51 | $HON | HONEYWELL INTERNATIONAL INC | Industrials | $17.4M | 0.4% | 82K | +0.3% | |||
| 52 | $EQIX | EQUINIX INC | Real Estate | $17.4M | 0.4% | 17K | -0.4% | |||
| 53 | — | Granite Real Estate Investment - COM | — | $16.3M | 0.4% | 273K | New | |||
| 54 | $AJG | Arthur J. Gallagher & Co. | Financials | $11.6M | 0.3% | 51K | +17% | |||
| 55 | $EMA | EMERA INC | Utilities | $10.6M | 0.2% | 221K | -1% | |||
| 56 | $ENB | ENBRIDGE INC | Energy | $10.2M | 0.2% | 219K | -48% | |||
| 57 | — | The North West Co Inc. - COM | — | $9.5M | 0.2% | 245K | +2% | |||
| 58 | $BAM | Brookfield Asset Management Ltd. | Financials | $3.9M | 0.1% | 87K | +3% | |||
| 59 | — | Iberdrola SA-Sponsored ADR - SPONSORED ADR | — | $1.9M | 0.0% | 21K | -0.5% | |||
| 60 | $TD | TORONTO DOMINION BANK | Financials | $1.4M | 0.0% | 12K | -1% | |||
| 61 | $FTS | Fortis Inc. | Utilities | $664K | 0.0% | 13K | -3% | |||
| 62 | $CNQ | CANADIAN NATURAL RESOURCES Ltd | Energy | $545K | 0.0% | 12K | +33% | |||
| 63 | $ADI | ANALOG DEVICES INC | Technology | $507K | 0.0% | 1,277 | — | |||
| 64 | — | Dollarama Inc. - COM | — | $506K | 0.0% | 3,905 | +1% | |||
| 65 | $TXN | TEXAS INSTRUMENTS INC | Technology | $485K | 0.0% | 1,730 | — | |||
| 66 | $AAPL | Apple Inc. | Technology | $332K | 0.0% | 997 | -7% | |||
| 67 | $AMGN | AMGEN INC | Healthcare | $274K | 0.0% | 650 | -24% | |||
| 68 | — | Constellation Software Inc. - COM | — | $269K | 0.0% | 132 | New | |||
| 69 | $AEM | AGNICO EAGLE MINES LTD | Materials | $267K | 0.0% | 1,455 | — | |||
| 70 | $BAC | BANK OF AMERICA CORP /DE/ | Financials | $227K | 0.0% | 4,175 | — | |||
| 71 | $PNC | PNC FINANCIAL SERVICES GROUP, INC. | Financials | $222K | 0.0% | 1,000 | — | |||
| 72 | — | Grafton Resources Inc. - COM | — | $4K | 0.0% | 12K | New |
What changed in Q3 2026
Against the previous quarter's 13F: 4 new, 37 added to, 26 trimmed, 2 sold out. Share-count changes; largest moves by dollar size first.
New positions (4)
first bought this quarter
- Granite Real Estate Investment - COM$16.3M
first bought this quarter
- Constellation Software Inc. - COM$269K
first bought this quarter
- Grafton Resources Inc. - COM$4K
first bought this quarter
Added to (37)
now $430.4M · held 14+ qtrs
now $329.2M · held 14+ qtrs, 5 adds in a row
$NXPINXP Semiconductors N.V.+52%
now $57.6M · held 11 qtrs, 9 adds in a row
now $141.4M · held 14+ qtrs, 3 adds in a row
$AVGOBroadcom Inc.+24%
now $38.4M · held 14+ qtrs, 3 adds in a row
$CARRCARRIER GLOBAL Corp+19%
now $37.7M · held 6 qtrs, 6 adds in a row
+31 more in the Excel export
Trimmed (26)
- Canadian Tire Corp. Ltd. - Cla - COM-34%
now $90.5M
now $175.1M · held 14+ qtrs
now $169.4M · held 14+ qtrs
now $155.4M · held 14+ qtrs, 4 trims in a row
$ENBENBRIDGE INC-48%
now $10.2M · held 14+ qtrs, 4 trims in a row
now $142.0M · held 14+ qtrs
+20 more in the Excel export
Sold out (2)
- LVMH Moet Hennessy Louis Vuitton ADR - SPONSORED ADRwas $22.7M
$TMUST-Mobile US, Inc.was $325K
held 10 qtrs
Holdings by quarter
Every 13F Cardinal Capital Management, Inc. has filed, 42 earlier quarters. Pick one to see what it held then.
Is it too late to follow Cardinal Capital Management?
Q3 2026 13F filed with the SEC on Oct 16, 2026. Prices are closing prices as of Oct 26, 2026.
Average quality of Cardinal Capital Management's top 20 holdings: 73/100 (our AI quality score, weighted by position size; 9 of the 20 are scored)
Top 10 since filing
+1.6%
Value-weighted move of the 10 largest stock positions
Turnover
4%
Last quarter; 17% over the last 4
Top 10 weight
46%
Share of the stock portfolio in its 10 largest positions
Held 4+ quarters
94%
Share of portfolio value in positions held a year or more
Highest-quality names it owns(among its 100 largest positions)
The 8 highest-scoring companies in this portfolio are a Pro feature.
How these are measured
- Moves since the quarter-end and since the filing date use our own daily closing prices, from the close on (or just before) each date to the latest close.
- Turnover is the lesser of shares bought or sold in a quarter, valued at the quarter-end prices in the 13F, divided by the average of the two quarters' stock portfolio values.
- Quarters held and add/trim streaks count back only through quarters whose filed holdings add up to the filing's own cover-page total (back to Q2 2023 for this fund). A change counts as an add or a trim when the split-adjusted share count moves by more than 1%.
- Estimate, not the fund's reported cost. For each quarter in the current holding period in which the fund's share count rose (split-adjusted), we take that quarter's average daily close and weight it by the shares added; sales do not change an average cost. Quarters where the stock's price history and the 13F's own implied price disagree by more than 2x are left out.
- Put and call option rows report the value of the underlying shares, not a position the fund paid for, so they are left out of all of the above.
Portfolio Overview
Cardinal Capital Management, Inc. disclosed 72 positions worth $4.4B in its Form 13F-HR for Q3 2026, led by $SU (SUNCOR ENERGY INC) at 9.8% of the equity portfolio, followed by $PBA and $MFC. During the quarter the fund opened 4 new positions and exited 2 — including a new stake in $STN. The portfolio is most concentrated in Financials (23.8% of disclosed assets). All figures are sourced directly from Cardinal Capital Management, Inc.’s Form 13F-HR filing with the SEC under CIK 1518235.
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