LINCLUDEN MANAGEMENT LTD
Sector Allocation
- Financials34.9%$355.9M
- Energy12.6%$128.4M
- Industrials12.4%$126.6M
- Communication Services8.5%$86.4M
- Real Estate8.1%$82.7M
- Technology7.7%$78.2M
- Consumer Discretionary5.8%$59.5M
- Healthcare3.3%$33.7M
- Materials2.8%$28.8M
- Utilities2.0%$20.8M
AUM History
13fpro.ai/research/fund/lincluden-management-ltd-1058231
Conviction and streaks
Concentrating · top 10 = 53.3%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 — Q2 2026
RY
$93.8MTD
$90.9MTRP
$56.9MBNS
$56.6MCNI
$54.9MBCE
$44.2MGIB
$38.3MQSR
$36.8MCM
$36.0MBIP
$34.3MCNQ
$31.3MSU
$31.2MTU
$29.3MNTR
$28.6MMFC
$27.6MBN
$26.6MMGA
$24.8MBEPC
$20.8MFSV
$13.5MGOOGL
$11.9M
Top 20 stock positions. Options are left out: 13F reports them at the underlying's value.
13fpro.ai/research/fund/lincluden-management-ltd-1058231
LINCLUDEN MANAGEMENT LTD 13F holdings — Q2 2026
$1.0B portfolio (+8.5% QoQ) · 68 holdings · Q2 2026 13F · top 10 are 53% of the stock portfolio
$93.8M
9.2% of stocks
-22%This quarter-3.2%Since filed10+ qtrsHeld$90.9M
8.9% of stocks
-24%This quarter+4.6%Since filed10+ qtrsHeld$56.9M
5.6% of stocks
-21%This quarter-11.5%Since filed10+ qtrsHeld$56.6M
5.5% of stocks
-21%This quarter+7.2%Since filed10+ qtrsHeldAIQuality71.1#173Est. buyEstimated buy price is Pro: unlock with a free trialTrimmed 5 qtrs in a row$54.9M
5.4% of stocks
-20%This quarter-4.8%Since filed10+ qtrsHeld$44.2M
4.3% of stocks
-22%This quarter-4.9%Since filed10+ qtrsHeldAIQualityAI quality score is Pro: unlock with a free trialEst. buyEstimated buy price is Pro: unlock with a free trialTrimmed 3 qtrs in a row$38.3M
3.8% of stocks
+20%This quarter+23.3%Since filed10+ qtrsHeldAIQualityAI quality score is Pro: unlock with a free trialEst. buyEstimated buy price is Pro: unlock with a free trialAdded 2 qtrs in a row$36.8M
3.6% of stocks
-21%This quarter+2.8%Since filed10+ qtrsHeldAIQualityAI quality score is Pro: unlock with a free trialEst. buyEstimated buy price is Pro: unlock with a free trialTrimmed 3 qtrs in a row$36.0M
3.5% of stocks
-25%This quarter-1.6%Since filed10+ qtrsHeldAIQualityAI quality score is Pro: unlock with a free trialEst. buyEstimated buy price is Pro: unlock with a free trialTrimmed 9 qtrs in a row$34.3M
3.4% of stocks
+4%This quarter-10.1%Since filed3 qtrsHeld
All holdings — LINCLUDEN MANAGEMENT LTD (Q2 2026)
68 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 NATURAL RESOURCES Ltd | Energy | $31.3M | 3.1% | 558K | -20% | 10+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 12 | SUNCOR ENERGY INC | Energy | $31.2M | 3.1% | 409K | -20% | 10+ qtrsTrimmed 9 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 13 | TELUS CORP | Communication Services | $29.3M | 2.9% | 1.95M | -7% | 10+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 14 | Nutrien Ltd. | Materials | $28.6M | 2.8% | 320K | -26% | 5 qtrsTrimmed 4 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 15 | MANULIFE FINANCIAL CORP | Financials | $27.6M | 2.7% | 479K | -30% | 10+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 16 | BROOKFIELD Corp /ON/ | Real Estate | $26.6M | 2.6% | 440K | -36% | 10+ qtrsTrimmed 9 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 17 | MAGNA INTERNATIONAL INC | Industrials | $24.8M | 2.4% | 266K | -32% | 10+ qtrsTrimmed 4 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 18 | Brookfield Renewable Corplp unit | Utilities | $20.8M | 2.0% | 422K | -26% | 10+ qtrsTrimmed 5 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 19 | FirstService Corp | Real Estate | $13.5M | 1.3% | 67K | +4% | 10+ qtrsAdded 3 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 20 | Alphabet Inc. | Technology | $11.9M | 1.2% | 33K | +0.0% | 10+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 21 | UNITEDHEALTH GROUP INC | Healthcare | $9.4M | 0.9% | 23K | +0.2% | 10+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 22 | JACOBS SOLUTIONS INC. | Industrials | $9.1M | 0.9% | 72K | +36% | 5 qtrsAdded 5 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 23 | VISA INC. | Financials | $8.8M | 0.9% | 26K | +10% | 2 qtrsAdded 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 24 | THERMO FISHER SCIENTIFIC INC. | Healthcare | $8.4M | 0.8% | 17K | +16% | 5 qtrsAdded 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 25 | US BANCORP \DE\ | Financials | $8.4M | 0.8% | 139K | +0.3% | 10+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 26 | $MSFT | MICROSOFT CORP | Technology | $8.2M | 0.8% | 22K | +0.4% | |||
| 27 | $CSCO | CISCO SYSTEMS, INC. | Technology | $8.1M | 0.8% | 69K | -52% | |||
| 28 | $AMT | AMERICAN TOWER CORP /MA/ | Real Estate | $7.8M | 0.8% | 47K | +14% | |||
| 29 | $DEO | DIAGEO PLC | Consumer Staples | $7.7M | 0.8% | 96K | -17% | |||
| 30 | $BAC | BANK OF AMERICA CORP /DE/ | Financials | $7.6M | 0.8% | 134K | +0.6% | |||
| 31 | $CIGI | Colliers International Group Inc. | Real Estate | $7.3M | 0.7% | 55K | +4% | |||
| 32 | $PFE | PFIZER INC | Healthcare | $7.3M | 0.7% | 302K | -25% | |||
| 33 | $ING | ING GROEP NV | Financials | $6.6M | 0.7% | 209K | -4% | |||
| 34 | $JPM | JPMORGAN CHASE & CO | Financials | $6.1M | 0.6% | 19K | +1% | |||
| 35 | $RMR | RMR GROUP INC. | Technology | $6.0M | 0.6% | 290K | — | |||
| 36 | $MS | MORGAN STANLEY | Financials | $5.8M | 0.6% | 28K | -2% | |||
| 37 | $HD | HOME DEPOT, INC. | Consumer Discretionary | $5.6M | 0.6% | 16K | +20% | |||
| 38 | $BGSI | Boyd Group Services Inc. | Consumer Discretionary | $5.5M | 0.5% | 41K | +42% | |||
| 39 | $C | CITIGROUP INC | Financials | $5.1M | 0.5% | 37K | -13% | |||
| 40 | $EOG | EOG RESOURCES INC | Energy | $5.1M | 0.5% | 39K | +0.2% | |||
| 41 | $COST | COSTCO WHOLESALE CORP /NEW | Consumer Staples | $5.0M | 0.5% | 5,345 | +0.9% | |||
| 42 | $DIS | Walt Disney Co | Communication Services | $5.0M | 0.5% | 52K | +46% | |||
| 43 | $WMT | Walmart Inc. | Consumer Staples | $4.9M | 0.5% | 43K | -2% | |||
| 44 | $VZ | VERIZON COMMUNICATIONS INC | Communication Services | $4.6M | 0.5% | 109K | -42% | |||
| 45 | $FRT | FEDERAL REALTY INVESTMENT TRUST | Real Estate | $4.6M | 0.5% | 37K | — | |||
| 46 | $GIL | Gildan Activewear Inc. | Consumer Discretionary | $4.3M | 0.4% | 59K | +15% | |||
| 47 | $EQIX | EQUINIX INC | Real Estate | $4.1M | 0.4% | 3,971 | — | |||
| 48 | $TRNO | Terreno Realty Corp | Real Estate | $4.1M | 0.4% | 63K | — | |||
| 49 | $WELL | WELLTOWER INC. | Real Estate | $4.1M | 0.4% | 18K | — | |||
| 50 | $TSCO | TRACTOR SUPPLY CO /DE/ | Consumer Discretionary | $4.1M | 0.4% | 128K | +128% | |||
| 51 | $SHEL | Shell plc | Energy | $4.0M | 0.4% | 51K | +54% | |||
| 52 | $GNTX | GENTEX CORP | Industrials | $3.5M | 0.3% | 140K | -0.1% | |||
| 53 | $RCI | ROGERS COMMUNICATIONS INC | Communication Services | $3.4M | 0.3% | 74K | -3% | |||
| 54 | $DSGX | DESCARTES SYSTEMS GROUP INC | Technology | $3.4M | 0.3% | 34K | New | |||
| 55 | $SNY | Sanofi | Healthcare | $3.3M | 0.3% | 77K | -2% | |||
| 56 | $TJX | TJX COMPANIES INC /DE/ | Consumer Discretionary | $3.2M | 0.3% | 21K | -2% | |||
| 57 | $GSK | GSK plc | Healthcare | $3.0M | 0.3% | 57K | -2% | |||
| 58 | $AHR | American Healthcare REIT, Inc. | Real Estate | $2.9M | 0.3% | 55K | +56% | |||
| 59 | $BAM | Brookfield Asset Management Ltd. | Financials | $2.7M | 0.3% | 43K | -38% | |||
| 60 | $SAP | SAP SE | Technology | $2.4M | 0.2% | 15K | -49% | |||
| 61 | $JNJ | JOHNSON & JOHNSON | Healthcare | $2.4M | 0.2% | 9,263 | -1% | |||
| 62 | $AVB | AVALONBAY COMMUNITIES INC | Real Estate | $2.2M | 0.2% | 12K | — | |||
| 63 | $EXR | Extra Space Storage Inc. | Real Estate | $1.8M | 0.2% | 12K | — | |||
| 64 | $MAA | MID AMERICA APARTMENT COMMUNITIES INC. | Real Estate | $1.5M | 0.1% | 11K | New | |||
| 65 | $SPG | SIMON PROPERTY GROUP INC. | Real Estate | $1.5M | 0.1% | 6,537 | -33% | |||
| 66 | $BXP | BXP, Inc. | Real Estate | $784K | 0.1% | 12K | -2% | |||
| 67 | $GLW | CORNING INC /NY | Materials | $153K | 0.0% | 599 | -98% | |||
| 68 | $BEPC | Brookfield Renewable Corp | Utilities | $66K | 0.0% | 1,257 | — |
What changed in Q2 2026
Against the previous quarter's 13F: 2 new, 23 added to, 35 trimmed, 4 sold out. Share-count changes; largest moves by dollar size first.
New positions (2)
Added to (23)
now $38.3M · held 10+ qtrs, 2 adds in a row
$JJACOBS SOLUTIONS INC.+36%
now $9.1M · held 5 qtrs, 5 adds in a row
$TSCOTRACTOR SUPPLY CO /DE/+128%
now $4.1M · held 10+ qtrs, 2 adds in a row
$BGSIBoyd Group Services Inc.+42%
now $5.5M · held 3 qtrs
$DISWalt Disney Co+46%
now $5.0M · held 10+ qtrs
$SHELShell plc+54%
now $4.0M · held 6 qtrs
+17 more in the Excel export
Trimmed (35)
now $90.9M · held 10+ qtrs, 5 trims in a row
now $93.8M · held 10+ qtrs, 8 trims in a row
now $56.9M · held 10+ qtrs, 8 trims in a row
now $26.6M · held 10+ qtrs, 9 trims in a row
now $56.6M · held 10+ qtrs, 5 trims in a row
now $54.9M · held 10+ qtrs, 3 trims in a row
+29 more in the Excel export
Holdings by quarter
Every 13F LINCLUDEN MANAGEMENT LTD has filed, 41 earlier quarters. Pick one to see what it held then.
Is it too late to follow LINCLUDEN MANAGEMENT LTD?
Q2 2026 13F filed with the SEC on Jul 24, 2026. Prices are closing prices as of Oct 26, 2026.
Average quality of LINCLUDEN MANAGEMENT LTD's top 20 holdings: 71/100 (our AI quality score, weighted by position size; 9 of the 20 are scored)
Top 10 since filing
-0.0%
Value-weighted move of the 10 largest stock positions
Turnover
3%
Last quarter; 17% over the last 4
Top 10 weight
53%
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 Q1 2024 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
LINCLUDEN MANAGEMENT LTD disclosed 68 positions worth $1.0B in its Form 13F-HR for Q2 2026, led by $RY (ROYAL BANK OF CANADA) at 9.2% of the equity portfolio, followed by $TD and $TRP. During the quarter the fund opened 2 new positions and exited 4 — including a new stake in $DSGX and a full exit from $PBA. The portfolio is most concentrated in Financials (34.9% of disclosed assets). All figures are sourced directly from LINCLUDEN MANAGEMENT LTD’s Form 13F-HR filing with the SEC under CIK 1058231.
Funds like this
managers whose biggest positions overlap LINCLUDEN MANAGEMENT LTD'sBrowse Top Institutional Investors
13F Pro tracks 8,700+ institutional investors filing 13F reports with the SEC.
to search all 8,700+ institutional filers.
AI-Powered Hedge Fund Analysis: LINCLUDEN MANAGEMENT LTD
13F Pro is an AI hedge fund tracker and stock research platform. For LINCLUDEN MANAGEMENT LTD (SEC CIK: 1058231), the platform ingests every quarterly Form 13F filing and applies AI-powered analysis on top — 10 specialized AI analysts (value, growth, momentum, macro, activist, and more) debate the fund's top positions and publish AI-generated analysis with cited SEC sources.
Every holding in LINCLUDEN MANAGEMENT LTD's portfolio is scored on an AI quality ranking built from its SEC filings (ROIC, FCF margin, revenue growth, institutional flow, earnings quality, shareholder dilution, and more). Track accumulation and distribution quarter over quarter, identify conviction positions, and see AI stock analysis for each position — alongside 8,700+ other institutional filers and 2,800+ AI-ranked companies.