Addenda Capital Inc.

In its 13F for Q2 2026 (holdings as of June 30, 2026, filed July 14, 2026), Addenda Capital Inc. reported 128 stock positions worth $3.7 billion. Its top holding was Toronto-Dominion Bank (TD) at 6.1% of the portfolio, followed by Royal Bank of Canada (RY, 6.0%) and Bank of Montreal (BMO, 4.3%). Compared with Q1 2026, it opened 2 new positions, sold out of 3, added to 40 and reduced 47. The biggest buy was Royal Bank of Canada (RY, shares +1%) and the biggest sale Agnico Eagle Mines (AEM, shares −38%).

Most Recent 13F
Q2 2026
Location
MONTREAL, A8
CIK
0001569411
Portfolio Value
$3.7B (Q2 2026)
SEC Filing
0001569411-26-000004 ↗ filed Jul 14, 2026

Holdings Value

0$1.0B$2.0B$3.0B$4.0B Q1 2024: $2.6B Q1 2024 Q2 2024: $2.6B Q2 2024 Q3 2024: $2.8B Q3 2024 Q4 2024: $2.8B Q4 2024 Q1 2025: $2.7B Q1 2025 Q2 2025: $2.8B Q2 2025 Q3 2025: $3.4B Q3 2025 Q4 2025: $3.4B Q4 2025 Q1 2026: $3.6B Q1 2026 Q2 2026: $3.7B $3.7B Q2 2026

Holdings 128 stocks · $3.7B
TD Toronto-Dominion Bank 6.07% 1,294,228 $223.2M Reduce -0.5%
RY Royal Bank of Canada 5.99% 750,840 $220.5M Add +0.7%
BMO Bank of Montreal filed as BANK MONTREAL MEDIUM 4.26% 625,064 $156.7M Reduce -7.3%
BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA B C 3.62% 1,081,272 $133.3M Add +0.7%
BN Brookfield Corp. 3.59% 2,179,602 $131.9M Add +0.5%
SHOP Shopify Inc. Class A 3.52% 798,719 $129.6M Add +11.4%
ENB Enbridge Inc. 3.26% 1,559,468 $119.9M Add +10.8%
CCJ Cameco Corp. 2.84% 721,749 $104.3M Add +31.1%
CNQ Canadian Natural Resources 2.81% 1,823,954 $103.5M Add +0.6%
CP Canadian Pacific Kansas City 2.79% 832,895 $102.6M Add +19.0%
CNI Canadian Natl Railway Co. 2.53% 548,874 $92.9M Add +19.3%
AEM Agnico Eagle Mines Ltd. 2.35% 392,344 $86.5M Reduce -37.6%
TRP TC Energy Corp. 2.19% 848,757 $80.5M Reduce -6.6%
AAPL Apple Inc. 1.73% 220,303 $63.7M Reduce -3.2%
AVGO Broadcom Inc. 1.71% 166,431 $62.9M Reduce -0.5%
HBM Hudbay Minerals Inc. 1.70% 1,872,488 $62.7M Add +203.4%
GOOG Alphabet Inc. Class C 1.67% 173,791 $61.4M Reduce -5.8%
WPM Wheaton Precious Metals Corp. 1.63% 376,957 $60.1M Reduce -38.9%
SU Suncor Energy Inc. 1.63% 784,418 $59.9M Add +5.0%
KGC Kinross Gold Corp. 1.51% 1,654,910 $55.6M Add +21.0%
MFC Manulife Financial Corp. 1.49% 953,431 $54.8M Add +24.7%
NVDA Nvidia Corp. 1.43% 263,605 $52.7M Reduce -0.8%
CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BANK OF CO 1.32% 295,989 $48.7M Reduce -6.1%
MSFT Microsoft Corp. 1.32% 129,812 $48.4M Reduce -0.6%
WCN Waste Connections Inc. 1.21% 188,040 $44.5M Reduce -14.0%
AMZN Amazon.com Inc. 1.17% 179,982 $42.9M Add +9.3%
FNV Franco-Nevada Corp. 1.16% 143,948 $42.6M Reduce -35.1%
BIP Brookfield Infrastructure Pa 1.09% 777,392 $40.3M Add +0.7%
PBA Pembina Pipeline Corp. 1.08% 606,697 $39.8M Add +0.2%
CLS Celestica Inc. 0.96% 68,522 $35.4M Add +70.9%
APH Amphenol Corp. Class A 0.92% 191,875 $33.9M Reduce -1.0%
V Visa Inc. Class A 0.91% 97,680 $33.5M Reduce -0.8%
AGI Alamos Gold Inc. Class A 0.90% 765,971 $32.9M Reduce -61.5%
QSR Restaurant Brands Intern 0.88% 312,203 $32.4M Add +0.6%
EMA Emera Inc. 0.86% 421,793 $31.7M Add +0.1%
FFIV F5 Inc. 0.82% 72,404 $30.1M Reduce -0.8%
JPM JPMorgan Chase & Co. 0.78% 87,189 $28.5M Reduce -1.5%
WAB Wabtec Corp. 0.72% 97,698 $26.3M Reduce -1.9%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.66% 160,457 $24.3M Add +0.1%
TFII Tfi International Inc. 0.66% 118,534 $24.3M Reduce -12.4%
CIGI Colliers Intl GR-Subord Vot 0.61% 167,188 $22.3M Add +0.5%
BKNG Booking Holdings Inc. 0.60% 123,540 $22.0M Add +6.4%
CAT Caterpillar Inc. 0.54% 18,800 $20.0M No change
LIN Linde PLC 0.53% 37,868 $19.7M Reduce -1.0%
TMO Thermo Fisher Scientific Inc. 0.53% 39,047 $19.6M Reduce -1.0%
URI United Rentals Inc. 0.52% 16,848 $19.1M Reduce -1.4%
SCHW Schwab (charles) Corp. 0.51% 202,662 $18.7M Reduce -1.0%
PANW Palo Alto Networks Inc. 0.50% 53,708 $18.3M Add +94.6%
BAM Brookfield Asset Mgmt-A 0.45% 259,947 $16.5M Add +3.5%
STE Steris PLC 0.45% 78,093 $16.4M Add +62.7%
COST Costco Wholesale Corp. 0.45% 17,526 $16.4M Add +0.1%
PNC PNC Financial Services Group 0.43% 64,576 $15.9M Add +0.1%
LOW Lowe's Cos Inc. 0.42% 70,790 $15.6M Reduce -0.9%
SPGI S&P Global Inc. 0.42% 37,752 $15.4M Reduce -1.1%
MGA Magna International Inc. 0.41% 163,404 $15.2M Reduce -0.1%
RMD Resmed Inc. 0.41% 77,707 $15.1M Reduce -0.8%
GIL Gildan Activewear Inc. 0.39% 198,675 $14.5M Add +2.5%
BCE Bce Inc. 0.39% 465,393 $14.4M Reduce -1.3%
TECK Teck Resources Ltd.-CLS B 0.38% 167,202 $14.1M Reduce -0.6%
FTS Fortis Inc. 0.38% 169,950 $13.8M No change
CAE Cae Inc. 0.37% 379,218 $13.5M Add +3.4%
BRK.B Berkshire Hathaway Inc. Class B 0.35% 25,629 $12.8M Add +57.6%
RBA RB Global Inc. 0.35% 77,000 $12.7M No change
GOOGL Alphabet Inc. Class A 0.34% 35,500 $12.7M No change
SLF Sun Life Financial Inc. 0.34% 112,410 $12.5M No change
CSCO Cisco Systems Inc. 0.34% 105,400 $12.4M No change
MEOH Methanex Corp. 0.33% 183,000 $12.0M No change
SHW The Sherwin-Williams Co. 0.31% 33,472 $11.5M Reduce -0.8%
MRK Merck & Co. Inc. 0.31% 87,800 $11.4M No change
SUNB Sunbelt Rentals Holdings Inc. 0.30% 178,754 $11.1M Reduce -8.7%
BHP BHP Group Ltd.-Spon ADR filed as BHP BILLITON LIMITED 0.29% 129,200 $10.8M No change
TSM Taiwan Semiconductor-SP ADR 0.29% 22,125 $10.6M Reduce -42.1%
NTR Nutrien Ltd. 0.28% 112,460 $10.1M Add +6.2%
SYK Stryker Corp. 0.27% 31,621 $10.0M Add +0.1%
MDLZ Mondelez International Inc. Class A 0.27% 170,606 $9.9M Add +0.1%
CVE Cenovus Energy Inc. 0.27% 279,994 $9.9M Reduce -56.4%
WMT Walmart Inc. 0.26% 85,100 $9.6M No change
UNP Union Pacific Corp. 0.26% 35,157 $9.6M Add +0.1%
JNJ Johnson & Johnson 0.26% 37,400 $9.5M No change
FDX FedEx Corp. 0.26% 30,000 $9.4M No change
TRU Transunion 0.26% 130,148 $9.4M Reduce -0.7%
DE Deere & Co. 0.25% 14,300 $9.1M No change
BGSI Boyd Group Services Inc. 0.25% 67,378 $9.1M Add +1.4%
INTU Intuit Inc. 0.24% 34,039 $8.9M Reduce -0.8%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.24% 31,300 $8.8M No change
GIB Cgi Inc. 0.24% 95,051 $8.7M Reduce -5.8%
KO The Coca-Cola Co. 0.24% 106,400 $8.7M No change
RIO Rio Tinto PLC-Spon ADR 0.24% 91,600 $8.7M No change
UPS United Parcel Service Class B 0.23% 79,400 $8.5M No change
CHD Church & Dwight Co. Inc. 0.23% 87,025 $8.4M Add +0.1%
EMR Emerson Electric Co. 0.23% 58,500 $8.4M No change
RCI Rogers Communications Inc. Class B 0.22% 169,900 $7.9M Reduce -1.8%
STN Stantec Inc. 0.21% 77,400 $7.6M No change
DOW Dow Inc. filed as DOW HLDGS INC 0.20% 269,800 $7.4M No change
F Ford Motor Co. filed as FORD MTR CO 0.20% 525,900 $7.3M No change
SBUX Starbucks Corp. 0.20% 70,700 $7.2M No change
PFE Pfizer Inc. 0.19% 290,800 $7.0M No change
MA Mastercard Inc. Class A 0.19% 13,400 $6.9M No change
Q Qnity Electronics Inc. 0.18% 40,600 $6.6M No change
META Meta Platforms Inc. Class A 0.18% 11,500 $6.5M No change

Show all 128 holdings

Portfolio Sells Q1 2026 → Q2 2026
AEM Agnico Eagle Mines Ltd. Reduce -37.6% 2.35% −2.65
AGI Alamos Gold Inc. Class A Reduce -61.5% 0.90% −2.57
WPM Wheaton Precious Metals Corp. Reduce -38.9% 1.63% −1.54
FNV Franco-Nevada Corp. Reduce -35.1% 1.16% −0.99
CVE Cenovus Energy Inc. Reduce -56.4% 0.27% −0.40
NKE Nike Inc. Class B Reduce -65.6% 0.10% −0.27
WCN Waste Connections Inc. Reduce -14.0% 1.21% −0.18
INTU Intuit Inc. Reduce -0.8% 0.24% −0.18
ADBE Adobe Inc. Sold out 0.00% −0.17
BR Broadridge Financial Solutio Reduce -35.7% 0.16% −0.15
ZTS Zoetis Inc. Sold out 0.00% −0.10
RMD Resmed Inc. Reduce -0.8% 0.41% −0.08
BCE Bce Inc. Reduce -1.3% 0.39% −0.08
TSM Taiwan Semiconductor-SP ADR Reduce -42.1% 0.29% −0.08
TRP TC Energy Corp. Reduce -6.6% 2.19% −0.06
GGG Graco Inc. Reduce -38.4% 0.07% −0.06
GIB Cgi Inc. Reduce -5.8% 0.24% −0.05
LOW Lowe's Cos Inc. Reduce -0.9% 0.42% −0.05
RCI Rogers Communications Inc. Class B Reduce -1.8% 0.22% −0.05
MSFT Microsoft Corp. Reduce -0.6% 1.32% −0.04
SPGI S&P Global Inc. Reduce -1.1% 0.42% −0.04
SCHW Schwab (charles) Corp. Reduce -1.0% 0.51% −0.03
PEP Pepsico Inc. Reduce -0.1% 0.16% −0.03
B Barrick Mining Corp. Reduce -78.3% 0.01% −0.03
ORLA Orla Mining Ltd. Sold out 0.00% −0.02
TMO Thermo Fisher Scientific Inc. Reduce -1.0% 0.53% −0.01
IMO Imperial Oil Ltd. Reduce -5.4% 0.01% −0.00
SKE Skeena Resources Ltd. Reduce -10.6% 0.01% −0.00
TRU Transunion Reduce -0.7% 0.26% −0.00
CCEP Coca-Cola Europacific Partne Reduce -5.5% 0.01% 0.00
LIN Linde PLC Reduce -1.0% 0.53% 0.00
IWM iShares Russell 2000 ETF Reduce -13.1% 0.15% +0.00
SHW The Sherwin-Williams Co. Reduce -0.8% 0.31% +0.01
WAB Wabtec Corp. Reduce -1.9% 0.72% +0.02
SUNB Sunbelt Rentals Holdings Inc. Reduce -8.7% 0.30% +0.04
TECK Teck Resources Ltd.-CLS B Reduce -0.6% 0.38% +0.04
JPM JPMorgan Chase & Co. Reduce -1.5% 0.78% +0.04
MGA Magna International Inc. Reduce -0.1% 0.41% +0.06
V Visa Inc. Class A Reduce -0.8% 0.91% +0.07
TFII Tfi International Inc. Reduce -12.4% 0.66% +0.08
AAPL Apple Inc. Reduce -3.2% 1.73% +0.11
NVDA Nvidia Corp. Reduce -0.8% 1.43% +0.13
CM Can Imperial BK of Commerce Reduce -6.1% 1.32% +0.14
URI United Rentals Inc. Reduce -1.4% 0.52% +0.17
GOOG Alphabet Inc. Class C Reduce -5.8% 1.67% +0.18
FFIV F5 Inc. Reduce -0.8% 0.82% +0.22
APH Amphenol Corp. Class A Reduce -1.0% 0.92% +0.23
AVGO Broadcom Inc. Reduce -0.5% 1.71% +0.25
BMO Bank of Montreal Reduce -7.3% 4.26% +0.68
TD Toronto-Dominion Bank Reduce -0.5% 6.07% +1.31

Portfolio Buys Q1 2026 → Q2 2026
RY Royal Bank of Canada Add +0.7% 5.99% +1.27
HBM Hudbay Minerals Inc. Add +203.4% 1.70% +1.20
BNS Bank of Nova Scotia Add +0.7% 3.62% +0.71
CNI Canadian Natl Railway Co. Add +19.3% 2.53% +0.67
CP Canadian Pacific Kansas City Add +19.0% 2.79% +0.63
CLS Celestica Inc. Add +70.9% 0.96% +0.52
CCJ Cameco Corp. Add +31.1% 2.84% +0.49
MFC Manulife Financial Corp. Add +24.7% 1.49% +0.46
PANW Palo Alto Networks Inc. Add +94.6% 0.50% +0.37
ENB Enbridge Inc. Add +10.8% 3.26% +0.27
AMZN Amazon.com Inc. Add +9.3% 1.17% +0.20
SHOP Shopify Inc. Class A Add +11.4% 3.52% +0.19
STE Steris PLC Add +62.7% 0.45% +0.15
BN Brookfield Corp. Add +0.5% 3.59% +0.14
BRK.B Berkshire Hathaway Inc. Class B Add +57.6% 0.35% +0.13
PNC PNC Financial Services Group Add +0.1% 0.43% +0.05
BKNG Booking Holdings Inc. Add +6.4% 0.60% +0.05
AYA Aya Gold & Silver Inc. New 0.03% +0.03
PBA Pembina Pipeline Corp. Add +0.2% 1.08% +0.02
UNP Union Pacific Corp. Add +0.1% 0.26% +0.02
IAG Iamgold Corp. New 0.02% +0.02
BAM Brookfield Asset Mgmt-A Add +3.5% 0.45% +0.01
EMA Emera Inc. Add +0.1% 0.86% +0.01
BIP Brookfield Infrastructure Pa Add +0.7% 1.09% +0.00
CHD Church & Dwight Co. Inc. Add +0.1% 0.23% +0.00
EQX Equinox Gold Corp. Add +40.7% 0.02% −0.00
TAP Molson Coors Beverage Co. Class B Add +0.2% 0.02% −0.00
DOO BRP Inc./Ca- Sub Voting Add +10.9% 0.05% −0.00
OR Or Royalties Inc. Add +14.5% 0.05% −0.00
CAE Cae Inc. Add +3.4% 0.37% −0.01
MDLZ Mondelez International Inc. Class A Add +0.1% 0.27% −0.01
SYK Stryker Corp. Add +0.1% 0.27% −0.02
QSR Restaurant Brands Intern Add +0.6% 0.88% −0.03
GIL Gildan Activewear Inc. Add +2.5% 0.39% −0.03
NTR Nutrien Ltd. Add +6.2% 0.28% −0.04
COST Costco Wholesale Corp. Add +0.1% 0.45% −0.05
TJX TJX Companies Inc. Add +0.1% 0.66% −0.06
BGSI Boyd Group Services Inc. Add +1.4% 0.25% −0.09
CIGI Colliers Intl GR-Subord Vot Add +0.5% 0.61% −0.09
KGC Kinross Gold Corp. Add +21.0% 1.51% −0.13
SU Suncor Energy Inc. Add +5.0% 1.63% −0.31
CNQ Canadian Natural Resources Add +0.6% 2.81% −0.68

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 128$3.7BTD, RY, BMO, BNS, BN
Q1 2026 129$3.6BAEM, TD, RY, BMO, CNQ
Q4 2025 125$3.4BTD, RY, AEM, SHOP, BN
Q3 2025 126$3.4BAEM, TD, RY, SHOP, BMO
Q2 2025 120$2.8BTD, RY, BN, AEM, SHOP
Q1 2025 123$2.7BBN, TD, RY, AEM, SHOP
Q4 2024 123$2.8BBN, SHOP, RY, WPM, TD
Q3 2024 125$2.8BBN, TD, RY, CNQ, WPM
Q2 2024 128$2.6BRY, TD, CNQ, BN, BMO
Q1 2024 131$2.6BTD, CNQ, BMO, RY, BN