Cardinal Capital Management, Inc.
In its 13F for Q2 2024 (holdings as of June 30, 2024, filed July 9, 2024), Cardinal Capital Management, Inc. reported 66 stock positions worth $2.6 billion. Its top holding was TC Energy (TRP) at 7.4% of the portfolio, followed by Suncor Energy (SU, 5.4%) and Manulife Financial (MFC, 5.2%). Compared with Q1 2024, it opened 13 new positions, added to 33 and reduced 20. The biggest buy was a new position in Canadian Tire Class A (CDNAF) and the biggest sale Toronto-Dominion Bank (TD, shares −98%).
- Most Recent 13F
- Q2 2026
- Location
- WINNIPEG, A2
- CIK
- 0001518235
- Portfolio Value
- $2.6B (Q2 2024)
- SEC Filing
- 0001518235-24-000004 ↗ filed Jul 9, 2024
Holdings Value
Holdings 66 stocks · $2.6B
| TRP TC Energy Corp. | 7.38% | 5,068,758 | $192.0M | Add +101.4% |
| SU Suncor Energy Inc. | 5.41% | 3,693,847 | $140.7M | Reduce -0.4% |
| MFC Manulife Financial Corp. | 5.22% | 5,097,367 | $135.7M | Reduce -1.8% |
| RY Royal Bank of Canada | 4.84% | 1,183,571 | $125.9M | Add +0.3% |
| GIL Gildan Activewear Inc. | 4.24% | 2,907,144 | $110.2M | Add +1.5% |
| CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BK COMM TO | 4.17% | 2,284,747 | $108.6M | Add +0.3% |
| PBA Pembina Pipeline Corp. | 4.11% | 2,885,088 | $107.0M | Add +8.2% |
| CDNAF Canadian Tire Corp. Class A | 4.06% | 1,064,032 | $105.5M | New |
| BMO Bank of Montreal filed as BANK MONTREAL QUE | 3.99% | 1,238,472 | $103.9M | Add +0.4% |
| ENB Enbridge Inc. | 3.80% | 2,780,706 | $98.9M | Add +0.9% |
| BN Brookfield Corp. | 3.76% | 2,352,094 | $97.8M | Add +1.4% |
| BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA HALIFAX | 3.61% | 2,055,314 | $94.0M | Add +7.2% |
| CP Canadian Pacific Kansas City | 3.58% | 1,184,510 | $93.2M | Add +0.9% |
| CCDBF CCL Industries Inc. Class B | 2.97% | 1,471,290 | $77.3M | New |
| IFCZF Intact Financial Corp. | 2.92% | 455,684 | $75.9M | New |
| ELEEF Element Fleet Management Cor | 2.25% | 3,212,125 | $58.4M | New |
| CNI Canadian Natl Railway Co. | 2.14% | 470,679 | $55.6M | Add +5.0% |
| SLF Sun Life Financial Inc. | 1.67% | 885,246 | $43.4M | Add +14.7% |
| ABBV Abbvie Inc. | 1.30% | 196,839 | $33.8M | Add +0.2% |
| AMAT Applied Materials Inc. | 1.29% | 142,466 | $33.6M | Reduce -29.9% |
| WFC Wells Fargo & Co. | 1.29% | 564,382 | $33.5M | Reduce -1.2% |
| JPM JPMorgan Chase & Co. | 1.28% | 164,596 | $33.3M | Reduce -10.3% |
| TMUS T-Mobile US Inc. | 1.27% | 187,179 | $33.0M | Reduce -0.7% |
| ORCL Oracle Corp. | 1.21% | 222,511 | $31.4M | Reduce -1.5% |
| APD Air Products & Chemicals Inc. | 1.20% | 120,520 | $31.1M | Add +3.2% |
| CMI Cummins Inc. | 1.19% | 111,444 | $30.9M | Reduce -1.2% |
| NEE Nextera Energy Inc. | 1.18% | 433,896 | $30.7M | Reduce -0.2% |
| NTR Nutrien Ltd. | 1.06% | 540,961 | $27.5M | Reduce -0.3% |
| MRK Merck & Co. Inc. | 1.05% | 221,640 | $27.4M | Add +0.6% |
| BKNG Booking Holdings Inc. | 1.03% | 6,772 | $26.8M | New |
| SONY Sony Group Corp. - SP ADR | 1.03% | 314,136 | $26.7M | Add +5.5% |
| HD Home Depot Inc. | 1.02% | 76,799 | $26.4M | Add +0.8% |
| NXPI NXP Semiconductors NV | 1.01% | 97,808 | $26.3M | Reduce -0.1% |
| HON Honeywell International Inc. | 1.01% | 122,845 | $26.2M | Add +0.6% |
| CMCSA Comcast Corp. Class A | 0.95% | 631,583 | $24.7M | Reduce -0.1% |
| AVGO Broadcom Inc. | 0.94% | 15,301 | $24.6M | Reduce -1.4% |
| UL Unilever PLC | 0.85% | 401,452 | $22.1M | Add +0.6% |
| SAP Sap SE-Sponsored ADR | 0.83% | 107,285 | $21.6M | Reduce -28.7% |
| SWK Stanley Black & Decker Inc. | 0.83% | 269,121 | $21.5M | Add +1.2% |
| MDT Medtronic PLC | 0.77% | 253,417 | $19.9M | Add +7.2% |
| CVS CVS Health Corp. | 0.75% | 328,555 | $19.4M | Add +1.5% |
| ENLAY Enel SPA - Unspon ADR filed as ENEL SOCIETA PER AZIONI | 0.71% | 2,697,778 | $18.6M | New |
| GRP.U Granite Real Estate Investme | 0.65% | 343,650 | $17.0M | Add +0.5% |
| RHHBY Roche Holdings Ltd.-Spons ADR | 0.65% | 486,290 | $16.9M | New |
| UNH Unitedhealth Group Inc. | 0.60% | 30,501 | $15.5M | Add +0.8% |
| COP Conocophillips | 0.54% | 123,290 | $14.1M | Add +0.9% |
| GILD Gilead Sciences Inc. | 0.50% | 190,383 | $13.1M | Add +0.6% |
| EQIX Equinix Inc. | 0.50% | 17,096 | $12.9M | Add +2.9% |
| GPN Global Payments Inc. | 0.38% | 101,176 | $9.8M | Add +0.0% |
| TU Telus Corp. | 0.20% | 342,059 | $5.2M | Add +2.5% |
| EMA Emera Inc. | 0.19% | 151,954 | $5.1M | New |
| BCE Bce Inc. | 0.18% | 144,483 | $4.7M | Reduce -1.4% |
| NPIFF Northland Power Inc. | 0.11% | 161,398 | $2.8M | New |
| IBDRY Iberdrola SA-Sponsored ADR | 0.06% | 31,685 | $1.7M | New |
| USB US Bancorp | 0.06% | 38,624 | $1.5M | Add +1.6% |
| TD Toronto-Dominion Bank | 0.06% | 26,450 | $1.5M | Reduce -98.3% |
| BAM Brookfield Asset Mgmt-A | 0.04% | 28,330 | $1.1M | New |
| The North West Co Inc. | 0.02% | 18,185 | $550K | New |
| FTS Fortis Inc. | 0.02% | 10,330 | $401K | Add +2.1% |
| MSFT Microsoft Corp. | 0.01% | 861 | $385K | Reduce -4.5% |
| EA Electronic Arts Inc. | 0.01% | 2,745 | $382K | Add +12.3% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.01% | 7,790 | $310K | Reduce -30.2% |
| AMGN Amgen Inc. | 0.01% | 900 | $281K | Reduce -10.0% |
| TXN Texas Instruments Inc. | 0.01% | 1,410 | $274K | Add +17.5% |
| SBGSY Schneider Elect SE-Unsp ADR | 0.01% | 5,160 | $248K | New |
| AAPL Apple Inc. | 0.01% | 1,175 | $247K | Reduce -11.3% |
Portfolio Sells Q1 2024 → Q2 2024
| TD Toronto-Dominion Bank | Reduce -98.3% | 0.06% | −4.09 |
| SU Suncor Energy Inc. | Reduce -0.4% | 5.41% | −0.67 |
| AMAT Applied Materials Inc. | Reduce -29.9% | 1.29% | −0.57 |
| MFC Manulife Financial Corp. | Reduce -1.8% | 5.22% | −0.54 |
| SAP Sap SE-Sponsored ADR | Reduce -28.7% | 0.83% | −0.47 |
| JPM JPMorgan Chase & Co. | Reduce -10.3% | 1.28% | −0.35 |
| CMI Cummins Inc. | Reduce -1.2% | 1.19% | −0.29 |
| CMCSA Comcast Corp. Class A | Reduce -0.1% | 0.95% | −0.27 |
| NTR Nutrien Ltd. | Reduce -0.3% | 1.06% | −0.25 |
| WFC Wells Fargo & Co. | Reduce -1.2% | 1.29% | −0.18 |
| TMUS T-Mobile US Inc. | Reduce -0.7% | 1.27% | −0.10 |
| NXPI NXP Semiconductors NV | Reduce -0.1% | 1.01% | −0.07 |
| NEE Nextera Energy Inc. | Reduce -0.2% | 1.18% | −0.05 |
| ORCL Oracle Corp. | Reduce -1.5% | 1.21% | −0.05 |
| BCE Bce Inc. | Reduce -1.4% | 0.18% | −0.04 |
| BAC Bank of America Corp. | Reduce -30.2% | 0.01% | −0.01 |
| MSFT Microsoft Corp. | Reduce -4.5% | 0.01% | −0.00 |
| AMGN Amgen Inc. | Reduce -10.0% | 0.01% | −0.00 |
| AAPL Apple Inc. | Reduce -11.3% | 0.01% | −0.00 |
| AVGO Broadcom Inc. | Reduce -1.4% | 0.94% | +0.03 |
Portfolio Buys Q1 2024 → Q2 2024
| CDNAF Canadian Tire Corp. Class A | New | 4.06% | +4.06 |
| CCDBF CCL Industries Inc. Class B | New | 2.97% | +2.97 |
| IFCZF Intact Financial Corp. | New | 2.92% | +2.92 |
| TRP TC Energy Corp. | Add +101.4% | 7.38% | +2.89 |
| ELEEF Element Fleet Management Cor | New | 2.25% | +2.25 |
| BKNG Booking Holdings Inc. | New | 1.03% | +1.03 |
| ENLAY Enel SPA - Unspon ADR | New | 0.71% | +0.71 |
| RHHBY Roche Holdings Ltd.-Spons ADR | New | 0.65% | +0.65 |
| EMA Emera Inc. | New | 0.19% | +0.19 |
| NPIFF Northland Power Inc. | New | 0.11% | +0.11 |
| IBDRY Iberdrola SA-Sponsored ADR | New | 0.06% | +0.06 |
| BAM Brookfield Asset Mgmt-A | New | 0.04% | +0.04 |
| The North West Co Inc. | New | 0.02% | +0.02 |
| SBGSY Schneider Elect SE-Unsp ADR | New | 0.01% | +0.01 |
| TXN Texas Instruments Inc. | Add +17.5% | 0.01% | +0.00 |
| EA Electronic Arts Inc. | Add +12.3% | 0.01% | +0.00 |
| FTS Fortis Inc. | Add +2.1% | 0.02% | −0.00 |
| USB US Bancorp | Add +1.6% | 0.06% | −0.02 |
| TU Telus Corp. | Add +2.5% | 0.20% | −0.04 |
| UL Unilever PLC | Add +0.6% | 0.85% | −0.04 |
| APD Air Products & Chemicals Inc. | Add +3.2% | 1.20% | −0.06 |
| UNH Unitedhealth Group Inc. | Add +0.8% | 0.60% | −0.07 |
| PBA Pembina Pipeline Corp. | Add +8.2% | 4.11% | −0.07 |
| HON Honeywell International Inc. | Add +0.6% | 1.01% | −0.10 |
| SONY Sony Group Corp. - SP ADR | Add +5.5% | 1.03% | −0.11 |
| EQIX Equinix Inc. | Add +2.9% | 0.50% | −0.11 |
| GILD Gilead Sciences Inc. | Add +0.6% | 0.50% | −0.11 |
| COP Conocophillips | Add +0.9% | 0.54% | −0.15 |
| MDT Medtronic PLC | Add +7.2% | 0.77% | −0.15 |
| SLF Sun Life Financial Inc. | Add +14.7% | 1.67% | −0.20 |
| GRP.U Granite Real Estate Investme | Add +0.5% | 0.65% | −0.21 |
| GPN Global Payments Inc. | Add +0.0% | 0.38% | −0.22 |
| MRK Merck & Co. Inc. | Add +0.6% | 1.05% | −0.24 |
| HD Home Depot Inc. | Add +0.8% | 1.02% | −0.28 |
| ABBV Abbvie Inc. | Add +0.2% | 1.30% | −0.29 |
| SWK Stanley Black & Decker Inc. | Add +1.2% | 0.83% | −0.33 |
| CVS CVS Health Corp. | Add +1.5% | 0.75% | −0.40 |
| RY Royal Bank of Canada | Add +0.3% | 4.84% | −0.45 |
| CNI Canadian Natl Railway Co. | Add +5.0% | 2.14% | −0.49 |
| GIL Gildan Activewear Inc. | Add +1.5% | 4.24% | −0.49 |
| BN Brookfield Corp. | Add +1.4% | 3.76% | −0.56 |
| ENB Enbridge Inc. | Add +0.9% | 3.80% | −0.62 |
| BNS Bank of Nova Scotia | Add +7.2% | 3.61% | −0.80 |
| CM Can Imperial BK of Commerce | Add +0.3% | 4.17% | −0.96 |
| CP Canadian Pacific Kansas City | Add +0.9% | 3.58% | −1.02 |
| BMO Bank of Montreal | Add +0.4% | 3.99% | −1.36 |
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 |