Cardinal Capital Management

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed April 8, 2026), Cardinal Capital Management reported 136 stock positions worth $775.6 million. Its top holding was Johnson & Johnson (JNJ) at 3.7% of the portfolio, followed by Eli Lilly (LLY, 3.2%) and Apple (AAPL, 2.8%). Compared with Q4 2025, it opened 3 new positions, added to 104 and reduced 26. The biggest buy was Conocophillips (COP, shares +1%) and the biggest sale Microsoft (MSFT, shares −0%).

Most Recent 13F
Q2 2026
Location
RALEIGH, NC
CIK
0001434845
Portfolio Value
$775.6M (Q1 2026)
SEC Filing
0001434845-26-000003 ↗ filed Apr 8, 2026

Holdings Value

0$200.0M$400.0M$600.0M$800.0M$1.0B Q1 2024: $614.6M Q1 2024 Q2 2024: $593.7M Q2 2024 Q3 2024: $642.8M Q3 2024 Q4 2024: $637.7M Q4 2024 Q1 2025: $645.7M Q1 2025 Q2 2025: $681.4M Q2 2025 Q3 2025: $723.4M Q3 2025 Q4 2025: $755.0M Q4 2025 Q1 2026: $775.6M $775.6M Q1 2026 Q2 2026: $826.3M Q2 2026

Holdings 136 stocks · $775.6M
JNJ Johnson & Johnson 3.67% 116,381 $28.4M Reduce -0.6%
LLY Eli Lilly & Co. 3.18% 26,792 $24.6M Reduce -2.2%
AAPL Apple Inc. 2.85% 87,014 $22.1M Reduce -0.2%
COST Costco Wholesale Corp. 2.67% 20,747 $20.7M Reduce -0.4%
XOM Exxon Mobil Corp. 2.52% 115,404 $19.6M Reduce -0.2%
WMT Walmart Inc. 2.49% 154,957 $19.3M Reduce -0.8%
GOOGL Alphabet Inc. Class A 2.38% 64,216 $18.5M Reduce -2.3%
MSFT Microsoft Corp. 2.37% 49,563 $18.3M Reduce -0.1%
JPM JPMorgan Chase & Co. 2.23% 58,789 $17.3M Reduce -0.7%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 2.09% 136,863 $16.2M Reduce -1.6%
DE Deere & Co. 2.03% 27,875 $15.7M Reduce -0.3%
CSCO Cisco Systems Inc. 1.58% 157,675 $12.2M Add +0.4%
COP Conocophillips 1.56% 91,891 $12.1M Add +0.5%
MRK Merck & Co. Inc. 1.51% 96,637 $11.7M Add +0.4%
EMR Emerson Electric Co. 1.50% 88,824 $11.6M Reduce -0.4%
ECL Ecolab Inc. 1.48% 43,098 $11.5M Add +0.2%
ITW Illinois Tool Works 1.47% 43,607 $11.4M Add +0.6%
LOW Lowe's Cos Inc. 1.47% 48,264 $11.4M Add +0.7%
CMI Cummins Inc. 1.46% 21,037 $11.3M Reduce -1.9%
KEYS Keysight Technologies Inc. 1.43% 39,380 $11.1M Reduce -1.7%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 1.40% 44,698 $10.8M Add +1.2%
LH Labcorp Holdings Inc. 1.33% 38,587 $10.3M Add +0.5%
TFC Truist Financial Corp. 1.24% 208,676 $9.6M Add +0.2%
NFG National Fuel Gas Co. 1.23% 101,277 $9.6M Add +0.9%
AGX Argan Inc. 1.22% 17,422 $9.5M Reduce -35.3%
HAS Hasbro Inc. 1.21% 100,029 $9.4M Add +0.1%
GIS General Mills Inc. 1.20% 250,124 $9.3M Add +89.9%
ADP Automatic Data Processing 1.17% 44,271 $9.1M Add +2.3%
QCOM Qualcomm Inc. 1.16% 69,632 $9.0M Add +1.4%
A Agilent Technologies Inc. 1.11% 75,310 $8.6M Add +0.3%
PG The Procter & Gamble Co. 1.10% 59,289 $8.6M Add +1.8%
SBUX Starbucks Corp. 1.08% 93,572 $8.4M Add +1.1%
MMM 3M Co. 1.02% 54,662 $7.9M Add +0.3%
IDXX Idexx Laboratories Inc. 1.02% 14,107 $7.9M Reduce -0.1%
NVS Novartis AG-Sponsored ADR 0.98% 49,684 $7.6M Add +0.0%
MDT Medtronic PLC 0.94% 83,676 $7.3M Add +0.9%
UTHR United Therapeutics Corp. 0.93% 12,133 $7.2M Add +0.3%
STT State Street Corp. 0.90% 55,385 $7.0M Reduce -0.2%
CW Curtiss-Wright Corp. 0.90% 10,284 $7.0M Reduce -2.1%
TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC 0.85% 72,993 $6.6M Add +2.7%
REGN Regeneron Pharmaceuticals 0.84% 8,436 $6.5M Add +0.4%
FDX FedEx Corp. 0.84% 18,201 $6.5M Add +0.2%
KO The Coca-Cola Co. 0.83% 84,233 $6.5M Add +1.1%
RY Royal Bank of Canada 0.83% 39,782 $6.4M Add +0.1%
BMY Bristol-Myers Squibb Co. 0.82% 104,507 $6.3M Add +0.2%
USLM United States Lime & Mineral 0.75% 44,539 $5.8M Add +0.1%
ODC Oil-Dri Corp. of America 0.74% 88,076 $5.7M Add +0.1%
FFIV F5 Inc. 0.72% 19,343 $5.6M Add +1.3%
PAHC Phibro Animal Health Corp. Class A 0.71% 99,026 $5.5M Reduce -0.1%
MKC McCormick & Co.-Non VTG SHRS 0.69% 106,836 $5.4M Add +3.8%
SHEL Shell PLC-ADR 0.69% 57,552 $5.4M Add +0.1%
BDX Becton Dickinson and Co. 0.68% 33,523 $5.3M Add +2.7%
PEP Pepsico Inc. 0.67% 33,555 $5.2M Add +0.9%
PSX Phillips 66 0.67% 28,519 $5.2M Add +0.2%
ESLT Elbit Systems Ltd. 0.67% 6,086 $5.2M Reduce -22.9%
TM Toyota Motor Corp. -Spon ADR 0.65% 24,355 $5.0M Add +0.8%
SAP Sap SE-Sponsored ADR 0.60% 27,262 $4.7M Add +0.1%
TDY Teledyne Technologies Inc. 0.60% 7,656 $4.6M Add +0.7%
BCPC Balchem Corp. 0.58% 26,772 $4.5M Add +3.2%
IDCC Interdigital Inc. 0.57% 14,682 $4.4M Reduce -0.3%
TD Toronto-Dominion Bank 0.56% 46,397 $4.3M Reduce -0.2%
BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA B C 0.56% 62,165 $4.3M Add +0.7%
CACI Caci International Inc. Class A 0.55% 7,906 $4.3M Reduce -0.1%
TTE Totalenergies SE 0.54% 45,399 $4.2M Add +0.7%
RJF Raymond James Financial Inc. 0.53% 28,614 $4.1M Add +0.8%
SNA Snap-on Inc. 0.53% 11,331 $4.1M Add +0.7%
LSTR Landstar System Inc. 0.53% 25,594 $4.1M Add +3.5%
GOOG Alphabet Inc. Class C 0.52% 14,053 $4.0M Reduce -2.0%
SR Spire Inc. 0.52% 44,014 $4.0M Add +2.4%
MASI Masimo Corp. 0.51% 22,132 $3.9M Add +3.1%
WBS Webster Financial Corp. 0.50% 55,594 $3.9M Add +1.2%
SNY Sanofi-ADR 0.47% 75,027 $3.6M Add +1.8%
DXCM Dexcom Inc. 0.45% 56,075 $3.5M Add +0.0%
CRUS Cirrus Logic Inc. 0.45% 24,346 $3.5M Add +2.3%
PFE Pfizer Inc. 0.45% 123,684 $3.5M Add +2.9%
SYNA Synaptics Inc. 0.45% 49,524 $3.5M Add +5.4%
GSK GSK PLC-Spon ADR 0.45% 62,170 $3.5M Add +0.7%
BSAC Banco Santander-Chile-ADR 0.45% 103,426 $3.5M Add +0.5%
PLPC Preformed Line Products Co. 0.43% 12,186 $3.3M Add +0.7%
BMI Badger Meter Inc. 0.41% 20,652 $3.1M Add +2.4%
HBAN Huntington Bancshares Inc. 0.39% 192,411 $3.0M Add +1.3%
VEEV Veeva Systems Inc. Class A 0.39% 17,187 $3.0M Add +1.6%
DLB Dolby Laboratories Inc. Class A 0.38% 48,871 $2.9M Add +7.0%
JKHY Jack Henry & Associates Inc. filed as HENRY JACK & ASSOC INC 0.37% 18,248 $2.9M Add +4.1%
JAZZ Jazz Pharmaceuticals PLC 0.36% 14,709 $2.8M Add +1.2%
SAM Boston Beer Company Inc. Class A 0.34% 11,384 $2.6M Add +19.2%
CFR Cullen/Frost Bankers Inc. 0.34% 19,004 $2.6M Add +4.8%
KE Kimball Electronics Inc. 0.33% 108,430 $2.6M Add +1.8%
UPS United Parcel Service Class B 0.33% 25,886 $2.5M Add +1.5%
FNB FNB Corp. 0.33% 152,139 $2.5M Add +3.0%
GGG Graco Inc. 0.32% 29,544 $2.5M Add +0.0%
UNB Union Bankshares Inc. 0.32% 102,560 $2.5M Add +7.1%
OZK Bank Ozk 0.30% 50,969 $2.3M Add +4.1%
MORN Morningstar Inc. 0.30% 13,777 $2.3M Add +5.6%
CTVA Corteva Inc. 0.29% 27,001 $2.3M Reduce -0.4%
SEE Sealed Air Corp. 0.28% 52,544 $2.2M Add +3.7%
UL Unilever PLC-Sponsored ADR 0.28% 37,585 $2.2M Add +1.1%
LNN Lindsay Corp. 0.28% 18,057 $2.2M Add +4.6%
ENS Enersys 0.27% 11,898 $2.1M Add +1.6%
Q Qnity Electronics Inc. 0.26% 17,245 $2.0M Add +0.1%
HUBG Hub Group Inc. Class A 0.25% 54,288 $2.0M Add +3.5%
TMP Tompkins Financial Corp. 0.25% 24,516 $1.9M Add +4.7%
CRL Charles River Laboratories 0.25% 11,031 $1.9M Add +0.9%
WLY Wiley (john) & Sons Class A 0.25% 49,933 $1.9M Add +10.7%
VC Visteon Corp. 0.24% 20,809 $1.9M Add +2.7%
NVO Novo-Nordisk A/S-Spons ADR 0.23% 46,693 $1.8M Add +3.0%
GNTX Gentex Corp. 0.22% 79,165 $1.7M Add +5.5%
NXPI NXP Semiconductors NV 0.22% 8,468 $1.7M Add +0.3%
UTMD Utah Medical Products Inc. 0.21% 26,543 $1.7M Add +6.9%
LZB La-Z-Boy Inc. 0.21% 51,360 $1.7M Add +5.7%
WOR Worthington Enterprises Inc. 0.21% 30,964 $1.6M Add +5.8%
ALC Alcon Inc. filed as ALCON AG 0.20% 21,014 $1.6M Add +3.3%
IIIN Insteel Industries Inc. 0.20% 46,284 $1.6M Add +6.5%
MIDD Middleby Corp. 0.20% 11,563 $1.5M Add +5.7%
MHK Mohawk Industries Inc. 0.20% 15,500 $1.5M Add +6.4%
ALRM Alarm.com Holdings Inc. 0.19% 34,905 $1.5M Add +19.0%
OFLX Omega Flex Inc. 0.18% 45,605 $1.4M Add +6.8%
AOS Smith (a.o.) Corp. 0.17% 20,552 $1.4M Add +3.2%
HAE Haemonetics Corp. 0.17% 23,900 $1.3M Add +6.5%
HALO Halozyme Therapeutics Inc. 0.17% 20,549 $1.3M Add +9.9%
YETI Yeti Holdings Inc. filed as YETI HLDGS INC 0.17% 35,545 $1.3M Add +6.8%
WAT Waters Corp. 0.16% 4,239 $1.3M New
CHKP Check Point Software Tech 0.16% 8,766 $1.3M Add +1.6%
OLED Universal Display Corp. 0.14% 12,248 $1.1M Add +9.3%
HSIC Henry Schein Inc. filed as SCHEIN HENRY INC 0.13% 13,909 $1.0M Add +2.0%
AMZN Amazon.com Inc. 0.12% 4,332 $902K No change
IGSB iShares 1-5Y Inv Grade Corp. 0.10% 14,770 $776K No change
WS Worthington Steel Inc. 0.08% 21,473 $652K Add +5.8%
HLN Haleon PLC-ADR 0.06% 49,161 $492K Add +1.7%
DD Dupont DE Nemours Inc. 0.06% 10,437 $478K Add +56.2%
INTC Intel Corp. 0.05% 8,860 $391K Add +11.4%
SPY SS SPDR S&P 500 ETF Trust-US 0.05% 545 $356K Add +0.6%
TSM Taiwan Semiconductor-SP ADR 0.04% 1,023 $347K No change
IT Gartner Inc. 0.02% 1,133 $179K Reduce -71.4%
VOO Vanguard S&P 500 ETF 0.02% 297 $177K New
MICC The Magnum Ice Cream Co. NV 0.02% 8,483 $127K New

Portfolio Sells Q4 2025 → Q1 2026
MSFT Microsoft Corp. Reduce -0.1% 2.37% −0.81
LLY Eli Lilly & Co. Reduce -2.2% 3.18% −0.72
GOOGL Alphabet Inc. Class A Reduce -2.3% 2.38% −0.34
JPM JPMorgan Chase & Co. Reduce -0.7% 2.23% −0.30
AAPL Apple Inc. Reduce -0.2% 2.85% −0.29
IDXX Idexx Laboratories Inc. Reduce -0.1% 1.02% −0.24
IT Gartner Inc. Reduce -71.4% 0.02% −0.11
GOOG Alphabet Inc. Class C Reduce -2.0% 0.52% −0.08
EMR Emerson Electric Co. Reduce -0.4% 1.50% −0.07
IDCC Interdigital Inc. Reduce -0.3% 0.57% −0.05
BNY Bank of New York Mellon Corp. Reduce -1.6% 2.09% −0.05
STT State Street Corp. Reduce -0.2% 0.90% −0.04
TD Toronto-Dominion Bank Reduce -0.2% 0.56% −0.02
CACI Caci International Inc. Class A Reduce -0.1% 0.55% −0.00
CMI Cummins Inc. Reduce -1.9% 1.46% +0.01
CTVA Corteva Inc. Reduce -0.4% 0.29% +0.05
ESLT Elbit Systems Ltd. Reduce -22.9% 0.67% +0.06
AGX Argan Inc. Reduce -35.3% 1.22% +0.11
CW Curtiss-Wright Corp. Reduce -2.1% 0.90% +0.14
WMT Walmart Inc. Reduce -0.8% 2.49% +0.18
PAHC Phibro Animal Health Corp. Class A Reduce -0.1% 0.71% +0.22
COST Costco Wholesale Corp. Reduce -0.4% 2.67% +0.29
DE Deere & Co. Reduce -0.3% 2.03% +0.30
KEYS Keysight Technologies Inc. Reduce -1.7% 1.43% +0.36
JNJ Johnson & Johnson Reduce -0.6% 3.67% +0.46
XOM Exxon Mobil Corp. Reduce -0.2% 2.52% +0.68

Portfolio Buys Q4 2025 → Q1 2026
COP Conocophillips Add +0.5% 1.56% +0.43
GIS General Mills Inc. Add +89.9% 1.20% +0.39
PSX Phillips 66 Add +0.2% 0.67% +0.18
ODC Oil-Dri Corp. of America Add +0.1% 0.74% +0.17
WAT Waters Corp. New 0.16% +0.16
NFG National Fuel Gas Co. Add +0.9% 1.23% +0.16
MRK Merck & Co. Inc. Add +0.4% 1.51% +0.16
TTE Totalenergies SE Add +0.7% 0.54% +0.15
UTHR United Therapeutics Corp. Add +0.3% 0.93% +0.15
FDX FedEx Corp. Add +0.2% 0.84% +0.14
MASI Masimo Corp. Add +3.1% 0.51% +0.14
SHEL Shell PLC-ADR Add +0.1% 0.69% +0.13
HAS Hasbro Inc. Add +0.1% 1.21% +0.12
PLPC Preformed Line Products Co. Add +0.7% 0.43% +0.09
SAM Boston Beer Company Inc. Class A Add +19.2% 0.34% +0.09
TDY Teledyne Technologies Inc. Add +0.7% 0.60% +0.08
CRUS Cirrus Logic Inc. Add +2.3% 0.45% +0.08
FFIV F5 Inc. Add +1.3% 0.72% +0.08
BMY Bristol-Myers Squibb Co. Add +0.2% 0.82% +0.07
NVS Novartis AG-Sponsored ADR Add +0.0% 0.98% +0.07
Q Qnity Electronics Inc. Add +0.1% 0.26% +0.07
KO The Coca-Cola Co. Add +1.1% 0.83% +0.06
WLY Wiley (john) & Sons Class A Add +10.7% 0.25% +0.06
LSTR Landstar System Inc. Add +3.5% 0.53% +0.06
BCPC Balchem Corp. Add +3.2% 0.58% +0.05
LH Labcorp Holdings Inc. Add +0.5% 1.33% +0.05
PFE Pfizer Inc. Add +2.9% 0.45% +0.05
ITW Illinois Tool Works Add +0.6% 1.47% +0.05
SBUX Starbucks Corp. Add +1.1% 1.08% +0.05
USLM United States Lime & Mineral Add +0.1% 0.75% +0.04
SR Spire Inc. Add +2.4% 0.52% +0.04
GSK GSK PLC-Spon ADR Add +0.7% 0.45% +0.04
WBS Webster Financial Corp. Add +1.2% 0.50% +0.04
ENS Enersys Add +1.6% 0.27% +0.04
PEP Pepsico Inc. Add +0.9% 0.67% +0.03
CFR Cullen/Frost Bankers Inc. Add +4.8% 0.34% +0.03
JAZZ Jazz Pharmaceuticals PLC Add +1.2% 0.36% +0.03
UTMD Utah Medical Products Inc. Add +6.9% 0.21% +0.03
DD Dupont DE Nemours Inc. Add +56.2% 0.06% +0.03
TMP Tompkins Financial Corp. Add +4.7% 0.25% +0.02
VOO Vanguard S&P 500 ETF New 0.02% +0.02
BSAC Banco Santander-Chile-ADR Add +0.5% 0.45% +0.02
UNB Union Bankshares Inc. Add +7.1% 0.32% +0.02
IIIN Insteel Industries Inc. Add +6.5% 0.20% +0.02
SNA Snap-on Inc. Add +0.7% 0.53% +0.02
MICC The Magnum Ice Cream Co. NV New 0.02% +0.02
OFLX Omega Flex Inc. Add +6.8% 0.18% +0.01
INTC Intel Corp. Add +11.4% 0.05% +0.01
WOR Worthington Enterprises Inc. Add +5.8% 0.21% +0.01
LNN Lindsay Corp. Add +4.6% 0.28% +0.01

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 138$826.3MLLY, JNJ, AAPL, GOOGL, BNY
Q1 2026 136$775.6MJNJ, LLY, AAPL, COST, XOM
Q4 2025 133$755.0MLLY, JNJ, MSFT, AAPL, GOOGL
Q3 2025 131$723.4MMSFT, AAPL, JNJ, LLY, COST
Q2 2025 128$681.4MMSFT, LLY, COST, AAPL, JNJ
Q1 2025 132$645.7MLLY, COST, MSFT, JNJ, AAPL
Q4 2024 131$637.7MLLY, MSFT, AAPL, COST, JNJ
Q3 2024 130$642.8MLLY, MSFT, AAPL, COST, JNJ
Q2 2024 134$593.7MLLY, MSFT, COST, AAPL, JNJ
Q1 2024Amended 139$614.6MLLY, MSFT, JNJ, COST, AAPL