Cardinal Capital Management, Inc.
In its 13F for Q2 2026 (holdings as of June 30, 2026, filed July 10, 2026), Cardinal Capital Management, Inc. reported 70 stock positions worth $4.1 billion. Its top holding was Manulife Financial (MFC) at 4.6% of the portfolio, followed by Royal Bank of Canada (RY, 4.5%) and Bank of Montreal (BMO, 4.3%). Compared with Q1 2026, it opened 6 new positions, sold out of 2, added to 43 and reduced 17. The biggest buy was a new position in Exchange Income (EIFZF) and the biggest sale Suncor Energy (SU, shares −10%).
- Most Recent 13F
- Q2 2026
- Location
- WINNIPEG, A2
- CIK
- 0001518235
- Portfolio Value
- $4.1B (Q2 2026)
- SEC Filing
- 0001518235-26-000003 ↗ filed Jul 10, 2026
Holdings Value
Holdings 70 stocks · $4.1B
| MFC Manulife Financial Corp. | 4.58% | 4,679,180 | $189.4M | Add +0.1% |
| RY Royal Bank of Canada | 4.46% | 892,539 | $184.5M | Reduce -0.4% |
| BMO Bank of Montreal filed as BANK MONTREAL MEDIUM | 4.26% | 999,266 | $176.3M | Reduce -0.5% |
| CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BANK OF CO | 4.26% | 1,533,246 | $176.2M | Reduce -1.5% |
| BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA B C | 4.24% | 2,018,524 | $175.1M | Reduce -0.2% |
| SU Suncor Energy Inc. | 4.09% | 3,149,688 | $169.1M | Reduce -10.3% |
| TRP TC Energy Corp. | 4.08% | 2,553,583 | $168.8M | Add +0.8% |
| PBA Pembina Pipeline Corp. | 4.06% | 3,634,579 | $167.8M | Add +2.2% |
| GIL Gildan Activewear Inc. | 3.77% | 3,026,915 | $155.7M | Add +17.0% |
| IFCZF Intact Financial Corp. | 3.62% | 726,629 | $149.7M | Add +15.1% |
| CNI Canadian Natl Railway Co. | 3.61% | 1,254,252 | $149.4M | Add +5.8% |
| CP Canadian Pacific Kansas City | 3.56% | 1,702,045 | $147.3M | Add +1.9% |
| CDNAF Canadian Tire Corp. Class A | 3.36% | 1,009,480 | $138.8M | Add +0.6% |
| BN Brookfield Corp. | 3.35% | 3,247,627 | $138.3M | Add +2.5% |
| CCDBF CCL Industries Inc. Class B | 3.31% | 2,104,843 | $137.0M | Add +10.7% |
| SAPIF Saputo Inc. | 2.90% | 4,153,825 | $120.1M | Reduce -25.6% |
| NTIOF National Bank of Canada filed as BANQUE NATIONALE DU CANADA | 2.85% | 746,743 | $117.7M | Reduce -1.6% |
| ELEEF Element Fleet Management Cor | 2.48% | 4,977,480 | $102.5M | Add +24.8% |
| SLF Sun Life Financial Inc. | 2.22% | 1,168,774 | $91.6M | Reduce -47.6% |
| AMAT Applied Materials Inc. | 1.78% | 101,688 | $73.5M | Reduce -45.8% |
| ABBV Abbvie Inc. | 1.67% | 273,719 | $68.9M | Add +8.4% |
| CMI Cummins Inc. | 1.65% | 95,826 | $68.3M | Reduce -0.2% |
| URI United Rentals Inc. | 1.36% | 49,644 | $56.2M | Add +11.6% |
| TSM Taiwan Semiconductor-SP ADR | 1.24% | 107,564 | $51.4M | Add +2.7% |
| SIEGY Siemens AG-Spons ADR | 1.14% | 293,443 | $47.2M | Add +1.9% |
| EIFZF Exchange Income Corp. | 1.10% | 487,183 | $45.4M | New |
| NXPI NXP Semiconductors NV | 1.08% | 159,579 | $44.8M | Add +2.2% |
| HD Home Depot Inc. | 1.02% | 120,109 | $42.4M | Add +26.4% |
| CARR Carrier Global Corp. | 1.02% | 575,335 | $42.2M | Add +7.1% |
| SBGSY Schneider Elect SE-Unsp ADR | 0.98% | 623,232 | $40.6M | Add +3.2% |
| V Visa Inc. Class A | 0.98% | 118,305 | $40.6M | New |
| APD Air Products & Chemicals Inc. | 0.98% | 138,116 | $40.5M | Add +7.3% |
| WFC Wells Fargo & Co. | 0.94% | 468,300 | $38.7M | Add +1.2% |
| NEE Nextera Energy Inc. | 0.93% | 439,005 | $38.5M | Add +1.0% |
| ETR Entergy Corp. | 0.90% | 323,483 | $37.2M | Add +8.2% |
| BKNG Booking Holdings Inc. | 0.89% | 206,024 | $36.7M | Add +2.5% |
| AVGO Broadcom Inc. | 0.81% | 88,286 | $33.4M | Add +18.4% |
| ENLAY Enel SPA - Unspon ADR filed as ENEL SOCIETA PER AZIONI | 0.79% | 2,869,792 | $32.8M | Add +0.9% |
| BOWFF Boardwalk Real Estate Invest | 0.78% | 705,195 | $32.1M | Add +3.6% |
| TEL Te Connectivity PLC | 0.76% | 156,207 | $31.5M | New |
| MSFT Microsoft Corp. | 0.72% | 79,815 | $29.8M | Add +4.1% |
| NTR Nutrien Ltd. | 0.68% | 449,452 | $28.3M | Reduce -5.2% |
| BDX Becton Dickinson and Co. | 0.65% | 178,421 | $27.0M | Add +6.6% |
| UL Unilever PLC-Sponsored ADR | 0.64% | 441,818 | $26.6M | Add +6.3% |
| MRK Merck & Co. Inc. | 0.64% | 206,451 | $26.5M | Reduce -0.5% |
| MDT Medtronic PLC | 0.62% | 329,175 | $25.8M | Add +5.9% |
| LVMUY LVMH Moet Hennessy-Unsp ADR | 0.55% | 205,448 | $22.7M | New |
| ENB Enbridge Inc. | 0.55% | 419,175 | $22.7M | Reduce -3.2% |
| USB US Bancorp | 0.48% | 326,565 | $19.7M | Add +5.4% |
| HON Honeywell International Inc. | 0.44% | 82,012 | $18.4M | Add +16.0% |
| EQIX Equinix Inc. | 0.43% | 17,220 | $17.9M | Add +0.0% |
| COP Conocophillips | 0.35% | 138,844 | $14.4M | Add +0.7% |
| SAP Sap SE-Sponsored ADR | 0.34% | 90,961 | $14.0M | Add +1.0% |
| EMA Emera Inc. | 0.29% | 223,815 | $11.8M | Add +0.9% |
| AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO | 0.24% | 43,710 | $10.0M | Add +1.3% |
| NNWWF The North West Co. Inc. filed as THE NORTH WEST COMPANY INC | 0.20% | 240,105 | $8.3M | New |
| BAM Brookfield Asset Mgmt-A | 0.09% | 84,812 | $3.8M | New |
| IBDRY Iberdrola SA-Sponsored ADR | 0.05% | 20,715 | $2.1M | Add +1.8% |
| TD Toronto-Dominion Bank | 0.04% | 12,020 | $1.5M | Reduce -23.6% |
| FTS Fortis Inc. | 0.02% | 13,000 | $744K | No change |
| TXN Texas Instruments Inc. | 0.01% | 1,730 | $516K | Reduce -5.2% |
| DLMAF Dollarama Inc. | 0.01% | 3,865 | $510K | Add +4.2% |
| ADI Analog Devices Inc. | 0.01% | 1,277 | $507K | Add +0.9% |
| CNQ Canadian Natural Resources | 0.01% | 8,685 | $343K | Add +82.3% |
| TMUS T-Mobile US Inc. | 0.01% | 1,937 | $325K | Reduce -99.0% |
| AAPL Apple Inc. | 0.01% | 1,073 | $310K | Add +7.6% |
| AMGN Amgen Inc. | 0.01% | 850 | $308K | No change |
| PNC PNC Financial Services Group | 0.01% | 1,000 | $246K | No change |
| BAC Bank of America Corp. | 0.01% | 4,175 | $238K | Reduce -21.7% |
| AEM Agnico Eagle Mines Ltd. | 0.01% | 1,455 | $226K | No change |
Portfolio Sells Q1 2026 → Q2 2026
| SU Suncor Energy Inc. | Reduce -10.3% | 4.09% | −2.15 |
| SAPIF Saputo Inc. | Reduce -25.6% | 2.90% | −1.78 |
| SLF Sun Life Financial Inc. | Reduce -47.6% | 2.22% | −1.54 |
| TMUS T-Mobile US Inc. | Reduce -99.0% | 0.01% | −1.09 |
| GRTUF Granite Real Estate Investme | Sold out | 0.00% | −0.43 |
| NTR Nutrien Ltd. | Reduce -5.2% | 0.68% | −0.28 |
| CDW CDW Corp. | Sold out | 0.00% | −0.23 |
| ENB Enbridge Inc. | Reduce -3.2% | 0.55% | −0.08 |
| MRK Merck & Co. Inc. | Reduce -0.5% | 0.64% | −0.03 |
| TD Toronto-Dominion Bank | Reduce -23.6% | 0.04% | −0.00 |
| BAC Bank of America Corp. | Reduce -21.7% | 0.01% | −0.00 |
| TXN Texas Instruments Inc. | Reduce -5.2% | 0.01% | +0.00 |
| AMAT Applied Materials Inc. | Reduce -45.8% | 1.78% | +0.05 |
| NTIOF National Bank of Canada | Reduce -1.6% | 2.85% | +0.21 |
| CMI Cummins Inc. | Reduce -0.2% | 1.65% | +0.26 |
| CM Can Imperial BK of Commerce | Reduce -1.5% | 4.26% | +0.30 |
| BNS Bank of Nova Scotia | Reduce -0.2% | 4.24% | +0.47 |
| RY Royal Bank of Canada | Reduce -0.4% | 4.46% | +0.57 |
| BMO Bank of Montreal | Reduce -0.5% | 4.26% | +0.61 |
Portfolio Buys Q1 2026 → Q2 2026
| EIFZF Exchange Income Corp. | New | 1.10% | +1.10 |
| V Visa Inc. Class A | New | 0.98% | +0.98 |
| TEL Te Connectivity PLC | New | 0.76% | +0.76 |
| LVMUY LVMH Moet Hennessy-Unsp ADR | New | 0.55% | +0.55 |
| IFCZF Intact Financial Corp. | Add +15.1% | 3.62% | +0.55 |
| URI United Rentals Inc. | Add +11.6% | 1.36% | +0.49 |
| CNI Canadian Natl Railway Co. | Add +5.8% | 3.61% | +0.34 |
| TSM Taiwan Semiconductor-SP ADR | Add +2.7% | 1.24% | +0.29 |
| NXPI NXP Semiconductors NV | Add +2.2% | 1.08% | +0.26 |
| MFC Manulife Financial Corp. | Add +0.1% | 4.58% | +0.26 |
| CARR Carrier Global Corp. | Add +7.1% | 1.02% | +0.21 |
| NNWWF The North West Co. Inc. | New | 0.20% | +0.20 |
| SIEGY Siemens AG-Spons ADR | Add +1.9% | 1.14% | +0.20 |
| ABBV Abbvie Inc. | Add +8.4% | 1.67% | +0.19 |
| AVGO Broadcom Inc. | Add +18.4% | 0.81% | +0.18 |
| HD Home Depot Inc. | Add +26.4% | 1.02% | +0.18 |
| ELEEF Element Fleet Management Cor | Add +24.8% | 2.48% | +0.16 |
| CCDBF CCL Industries Inc. Class B | Add +10.7% | 3.31% | +0.11 |
| SBGSY Schneider Elect SE-Unsp ADR | Add +3.2% | 0.98% | +0.10 |
| BAM Brookfield Asset Mgmt-A | New | 0.09% | +0.09 |
| USB US Bancorp | Add +5.4% | 0.48% | +0.04 |
| CP Canadian Pacific Kansas City | Add +1.9% | 3.56% | +0.03 |
| UL Unilever PLC-Sponsored ADR | Add +6.3% | 0.64% | +0.00 |
| CNQ Canadian Natural Resources | Add +82.3% | 0.01% | +0.00 |
| ADI Analog Devices Inc. | Add +0.9% | 0.01% | +0.00 |
| AAPL Apple Inc. | Add +7.6% | 0.01% | +0.00 |
| DLMAF Dollarama Inc. | Add +4.2% | 0.01% | +0.00 |
| IBDRY Iberdrola SA-Sponsored ADR | Add +1.8% | 0.05% | −0.00 |
| ETR Entergy Corp. | Add +8.2% | 0.90% | −0.01 |
| AJG Arthur J Gallagher & Co. | Add +1.3% | 0.24% | −0.01 |
| EQIX Equinix Inc. | Add +0.0% | 0.43% | −0.02 |
| EMA Emera Inc. | Add +0.9% | 0.29% | −0.02 |
| BKNG Booking Holdings Inc. | Add +2.5% | 0.89% | −0.02 |
| APD Air Products & Chemicals Inc. | Add +7.3% | 0.98% | −0.03 |
| ENLAY Enel SPA - Unspon ADR | Add +0.9% | 0.79% | −0.04 |
| MSFT Microsoft Corp. | Add +4.1% | 0.72% | −0.04 |
| BOWFF Boardwalk Real Estate Invest | Add +3.6% | 0.78% | −0.05 |
| BDX Becton Dickinson and Co. | Add +6.6% | 0.65% | −0.06 |
| WFC Wells Fargo & Co. | Add +1.2% | 0.94% | −0.06 |
| SAP Sap SE-Sponsored ADR | Add +1.0% | 0.34% | −0.08 |
| GIL Gildan Activewear Inc. | Add +17.0% | 3.77% | −0.10 |
| BN Brookfield Corp. | Add +2.5% | 3.35% | −0.10 |
| MDT Medtronic PLC | Add +5.9% | 0.62% | −0.10 |
| COP Conocophillips | Add +0.7% | 0.35% | −0.14 |
| NEE Nextera Energy Inc. | Add +1.0% | 0.93% | −0.16 |
| TRP TC Energy Corp. | Add +0.8% | 4.08% | −0.18 |
| PBA Pembina Pipeline Corp. | Add +2.2% | 4.06% | −0.21 |
| CDNAF Canadian Tire Corp. Class A | Add +0.6% | 3.36% | −0.27 |
| HON Honeywell International Inc. | Add +16.0% | 0.44% | −0.42 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 70 | $4.1B | MFC, RY, BMO, CM, BNS |
| Q1 2026 | 66 | $3.7B | SU, SAPIF, MFC, PBA, TRP |
| Q4 2025 | 70 | $4.5B | SAPIF, MFC, GIL, CM, SU |
| Q3 2025 | 77 | $3.5B | GIL, SU, MFC, BN, CM |
| Q2 2025 | 68 | $3.2B | MFC, CDNAF, BN, SU, GIL |
| Q1 2025 | 70 | $2.9B | MFC, SU, CDNAF, GIL, TRP |
| Q4 2024 | 69 | $2.9B | MFC, GIL, BN, SU, CDNAF |
| Q3 2024 | 58 | $2.4B | MFC, RY, CM, SU, GIL |
| Q2 2024 | 66 | $2.6B | TRP, SU, MFC, RY, GIL |
| Q1 2024 | 53 | $2.3B | SU, MFC, BMO, RY, CM |