Cidel Asset Management Inc.
In its 13F for Q2 2024 (holdings as of June 30, 2024, filed July 22, 2024), Cidel Asset Management Inc. reported 314 stock positions worth $1.3 billion. Its top holding was Microsoft (MSFT) at 5.8% of the portfolio, followed by Royal Bank of Canada (RY, 4.6%) and Astrazeneca PLC-Spons ADR (AZN, 4.0%). Compared with Q1 2024, it opened 4 new positions, sold out of 14, added to 119 and reduced 105. The biggest buy was Alphabet Class A (GOOGL, shares +347%) and the biggest sale Church & Dwight (CHD, shares −96%).
- Most Recent 13F
- Q2 2026
- Location
- TORONTO, A6
- CIK
- 0001621915
- Portfolio Value
- $1.3B (Q2 2024)
- SEC Filing
- 0001085146-24-003126 ↗ filed Jul 22, 2024
Holdings Value
Holdings 314 stocks · $1.3B
| MSFT Microsoft Corp. | 5.75% | 166,052 | $74.2M | Reduce -5.9% |
| RY Royal Bank of Canada | 4.57% | 553,589 | $58.9M | Reduce -0.0% |
| AZN Astrazeneca PLC-Spons ADR | 3.99% | 660,427 | $51.5M | Add +1.4% |
| RBA RB Global Inc. | 3.97% | 672,095 | $51.2M | Add +1.8% |
| V Visa Inc. Class A | 3.48% | 171,249 | $44.9M | Add +0.1% |
| QSR Restaurant Brands Intern | 2.72% | 498,479 | $35.1M | Add +9.2% |
| OTEX Open Text Corp. | 2.58% | 1,107,764 | $33.3M | Add +0.2% |
| FTS Fortis Inc. | 2.36% | 782,827 | $30.4M | Add +42.6% |
| CNI Canadian Natl Railway Co. | 2.30% | 251,582 | $29.7M | Add +0.9% |
| J Jacobs Solutions Inc. | 2.17% | 200,580 | $28.0M | Reduce -11.1% |
| TD Toronto-Dominion Bank | 2.13% | 500,499 | $27.5M | Reduce -25.3% |
| GIB Cgi Inc. | 1.97% | 254,738 | $25.4M | Add +0.8% |
| ADI Analog Devices Inc. | 1.89% | 107,109 | $24.4M | Reduce -0.4% |
| GOOGL Alphabet Inc. Class A | 1.85% | 131,268 | $23.9M | Add +347.1% |
| CL Colgate-Palmolive Co. | 1.85% | 246,285 | $23.9M | Reduce -0.7% |
| ZTS Zoetis Inc. | 1.81% | 134,398 | $23.3M | Add +25.2% |
| SAP Sap SE-Sponsored ADR | 1.66% | 106,161 | $21.4M | Add +1.1% |
| BMO Bank of Montreal filed as BANK MONTREAL QUE | 1.64% | 252,895 | $21.2M | Reduce -3.3% |
| TRI Thomson Reuters Corp. | 1.61% | 123,427 | $20.8M | Add +2.3% |
| COP Conocophillips | 1.55% | 174,987 | $20.0M | Reduce -1.7% |
| JPM JPMorgan Chase & Co. | 1.54% | 98,245 | $19.9M | Add +264.4% |
| WCN Waste Connections Inc. | 1.49% | 109,852 | $19.3M | Add +2.4% |
| MAR Marriott International Class A | 1.43% | 76,497 | $18.5M | Reduce -15.3% |
| STN Stantec Inc. | 1.40% | 215,302 | $18.0M | Add +2.9% |
| FMX Fomento Economico Mex-SP ADR | 1.40% | 167,366 | $18.0M | Reduce -0.5% |
| CBOE Cboe Global Markets Inc. | 1.34% | 101,455 | $17.3M | Reduce -1.6% |
| AAPL Apple Inc. | 1.28% | 78,733 | $16.6M | Add +8.5% |
| MELI MercadoLibre Inc. | 1.27% | 9,957 | $16.4M | Add +0.2% |
| BN Brookfield Corp. | 1.22% | 378,188 | $15.7M | Reduce -4.2% |
| CNQ Canadian Natural Resources | 1.15% | 416,854 | $14.8M | Reduce -6.8% |
| CRM Salesforce Inc. | 1.15% | 57,667 | $14.8M | Reduce -8.8% |
| WEC WEC Energy Group Inc. | 1.15% | 188,723 | $14.8M | Reduce -30.1% |
| CMS CMS Energy Corp. | 1.11% | 240,342 | $14.3M | Add +4723.2% |
| CIGI Colliers Intl GR-Subord Vot | 1.11% | 127,907 | $14.3M | Add +2.9% |
| STGW Stagwell Inc. | 1.08% | 2,039,680 | $13.9M | No change |
| BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA HALIFAX | 1.01% | 286,431 | $13.1M | Reduce -1.0% |
| MFC Manulife Financial Corp. | 0.98% | 476,142 | $12.7M | Reduce -1.6% |
| PG The Procter & Gamble Co. | 0.97% | 76,204 | $12.6M | Add +3.5% |
| CP Canadian Pacific Kansas City | 0.92% | 150,744 | $11.9M | Reduce -2.8% |
| IBN Icici Bank Ltd.-Spon ADR | 0.80% | 357,967 | $10.3M | Add +4.7% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.78% | 9,769 | $10.1M | Add +97590.0% |
| DSGX The Descartes Systems Grp | 0.78% | 104,142 | $10.1M | Add +19.1% |
| PBA Pembina Pipeline Corp. | 0.72% | 249,603 | $9.3M | Add +2.8% |
| LLY Eli Lilly & Co. | 0.70% | 10,022 | $9.1M | Add +1456.2% |
| SU Suncor Energy Inc. | 0.68% | 229,145 | $8.7M | Add +1.1% |
| GRP.U Granite Real Estate Investme | 0.65% | 169,971 | $8.4M | Add +3.5% |
| RIO Rio Tinto PLC-Spon ADR | 0.65% | 126,752 | $8.4M | Add +40.2% |
| ROK Rockwell Automation Inc. | 0.64% | 30,033 | $8.3M | Reduce -37.8% |
| PXH Inves Rafi Emer MRKT-Usd Inc. | 0.64% | 405,201 | $8.2M | Add +7.5% |
| NVEI Nuvei Corp.-Subordinate VTG | 0.60% | 239,229 | $7.7M | Reduce -8.0% |
| ENB Enbridge Inc. | 0.47% | 171,904 | $6.1M | Reduce -59.0% |
| FNDX Schwab Fndmntl US LRG Co. ETF | 0.44% | 84,871 | $5.7M | No change |
| TSLA Tesla Inc. | 0.41% | 26,756 | $5.3M | Reduce -34.5% |
| CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BK COMM TO | 0.38% | 103,475 | $4.9M | Reduce -5.4% |
| GOOG Alphabet Inc. Class C | 0.37% | 25,772 | $4.7M | Add +0.5% |
| AMZN Amazon.com Inc. | 0.36% | 24,372 | $4.7M | Reduce -2.5% |
| XOM Exxon Mobil Corp. | 0.36% | 40,080 | $4.6M | Add +14.9% |
| PRF Invesco Rafi US 1000 ETF | 0.34% | 117,308 | $4.5M | Add +11.4% |
| META Meta Platforms Inc. Class A | 0.29% | 7,457 | $3.8M | Reduce -9.6% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.29% | 94,044 | $3.7M | Add +4.3% |
| CCJ Cameco Corp. | 0.29% | 75,000 | $3.7M | No change |
| BAM Brookfield Asset Mgmt-A | 0.28% | 94,092 | $3.6M | Reduce -3.2% |
| CVX Chevron Corp. | 0.26% | 21,295 | $3.3M | Add +3.9% |
| WFC Wells Fargo & Co. | 0.24% | 53,127 | $3.2M | Reduce -6.3% |
| NVO Novo-Nordisk A/S-Spons ADR | 0.24% | 21,443 | $3.1M | Add +150.3% |
| MU Micron Technology Inc. | 0.23% | 22,628 | $3.0M | Reduce -3.1% |
| VZ Verizon Communications Inc. | 0.22% | 70,303 | $2.9M | Add +1.4% |
| T AT&T Inc. | 0.22% | 145,264 | $2.8M | Reduce -2.1% |
| WMT Walmart Inc. | 0.21% | 40,755 | $2.8M | Reduce -2.8% |
| C Citigroup Inc. | 0.20% | 40,952 | $2.6M | Reduce -29.8% |
| AWK American Water Works Co. Inc. | 0.20% | 19,867 | $2.6M | Add +3.4% |
| NEE Nextera Energy Inc. | 0.19% | 35,365 | $2.5M | Reduce -4.8% |
| UNH Unitedhealth Group Inc. | 0.19% | 4,740 | $2.4M | Add +4.4% |
| JNJ Johnson & Johnson | 0.19% | 16,429 | $2.4M | Add +4.1% |
| CMCSA Comcast Corp. Class A | 0.18% | 60,819 | $2.4M | Add +3.9% |
| VOO Vanguard S&P 500 ETF | 0.17% | 4,506 | $2.3M | No change |
| INTC Intel Corp. | 0.15% | 64,589 | $2.0M | Add +0.6% |
| COST Costco Wholesale Corp. | 0.15% | 2,242 | $1.9M | Reduce -17.2% |
| CVS CVS Health Corp. | 0.13% | 28,717 | $1.7M | Add +10.8% |
| HD Home Depot Inc. | 0.13% | 4,892 | $1.7M | Add +1.5% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.13% | 9,656 | $1.7M | Reduce -3.9% |
| PFE Pfizer Inc. | 0.13% | 58,993 | $1.7M | Add +14.0% |
| CSCO Cisco Systems Inc. | 0.13% | 34,591 | $1.6M | Add +4.5% |
| IWF iShares Russell 1000 Growth | 0.13% | 4,485 | $1.6M | No change |
| GM General Motors Co. | 0.12% | 33,846 | $1.6M | Reduce -2.2% |
| NVS Novartis AG-Sponsored ADR | 0.12% | 14,503 | $1.5M | New |
| APH Amphenol Corp. Class A | 0.12% | 22,692 | $1.5M | Add +19.3% |
| PXF Invesco Rafi Developed Marke | 0.12% | 31,251 | $1.5M | Add +26.3% |
| FNDF Schwab Fndmn Intl LRG Co. ETF | 0.11% | 40,303 | $1.4M | No change |
| AVGO Broadcom Inc. | 0.10% | 840 | $1.3M | Reduce -13.8% |
| SCHW Schwab (charles) Corp. | 0.10% | 18,051 | $1.3M | No change |
| VEA Vanguard Ftse Developed ETF | 0.10% | 26,846 | $1.3M | No change |
| MPWR Monolithic Power Systems Inc. | 0.10% | 1,580 | $1.3M | Reduce -0.4% |
| MRK Merck & Co. Inc. | 0.10% | 10,166 | $1.3M | Add +2.5% |
| ABBV Abbvie Inc. | 0.09% | 6,981 | $1.2M | Add +5.6% |
| QCOM Qualcomm Inc. | 0.09% | 6,010 | $1.2M | Reduce -7.5% |
| GS Goldman Sachs Group Inc. | 0.09% | 2,636 | $1.2M | Reduce -3.8% |
| EWJ iShares MSCI Japan ETF | 0.09% | 16,821 | $1.1M | Add +0.5% |
| PM Philip Morris International | 0.09% | 11,202 | $1.1M | Add +1.6% |
| LMT Lockheed Martin Corp. | 0.09% | 2,394 | $1.1M | Reduce -7.5% |
Other holdings (5): bonds, preferreds, convertibles and warrants · $3.1M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| SHV iShares 0-1 Year Treasury Bo | TRUST ISHARE 0-1 · principal | 9,081 | $1.0M | Reduce -5.8% |
| AGG iShares Core U.S. Aggregate | CORE US AGGBD ET · principal | 8,354 | $811K | Reduce -1.2% |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | IBOXX INV CP ETF · principal | 6,293 | $674K | Reduce -7.9% |
| ISTB iShares Core 1-5 Year Usd Bo | CORE 1 5 YR USD · principal | 7,035 | $333K | Reduce -10.7% |
| MBB iShares MBS ETF | MBS ETF · principal | 2,969 | $273K | No change |
Total filed on the 13F, all lines: $1.3B.
Portfolio Sells Q1 2024 → Q2 2024
| CHD Church & Dwight Co. Inc. | Reduce -96.1% | 0.05% | −1.29 |
| TD Toronto-Dominion Bank | Reduce -25.3% | 2.13% | −0.95 |
| TCN Tricon Residential Inc. | Sold out | 0.00% | −0.79 |
| ENB Enbridge Inc. | Reduce -59.0% | 0.47% | −0.68 |
| WEC WEC Energy Group Inc. | Reduce -30.1% | 1.15% | −0.54 |
| J Jacobs Solutions Inc. | Reduce -11.1% | 2.17% | −0.47 |
| ROK Rockwell Automation Inc. | Reduce -37.8% | 0.64% | −0.43 |
| BRK.B Berkshire Hathaway Inc. Class B | Sold out | 0.00% | −0.33 |
| MAR Marriott International Class A | Reduce -15.3% | 1.43% | −0.30 |
| BMO Bank of Montreal | Reduce -3.3% | 1.64% | −0.30 |
| CRM Salesforce Inc. | Reduce -8.8% | 1.15% | −0.30 |
| FMX Fomento Economico Mex-SP ADR | Reduce -0.5% | 1.40% | −0.27 |
| GLD SPDR Gold Shares | Reduce -88.0% | 0.03% | −0.22 |
| COP Conocophillips | Reduce -1.7% | 1.55% | −0.18 |
| CNQ Canadian Natural Resources | Reduce -6.8% | 1.15% | −0.15 |
| TSLA Tesla Inc. | Reduce -34.5% | 0.41% | −0.14 |
| BNS Bank of Nova Scotia | Reduce -1.0% | 1.01% | −0.13 |
| CP Canadian Pacific Kansas City | Reduce -2.8% | 0.92% | −0.12 |
| CBOE Cboe Global Markets Inc. | Reduce -1.6% | 1.34% | −0.11 |
| APD Air Products & Chemicals Inc. | Reduce -80.3% | 0.03% | −0.09 |
| AIG American International Group | Reduce -63.9% | 0.05% | −0.09 |
| C Citigroup Inc. | Reduce -29.8% | 0.20% | −0.08 |
| CM Can Imperial BK of Commerce | Reduce -5.4% | 0.38% | −0.04 |
| BN Brookfield Corp. | Reduce -4.2% | 1.22% | −0.04 |
| BCE Bce Inc. | Reduce -31.3% | 0.07% | −0.03 |
| BAM Brookfield Asset Mgmt-A | Reduce -3.2% | 0.28% | −0.03 |
| TECK Teck Resources Ltd.-CLS B | Sold out | 0.00% | −0.03 |
| NVEI Nuvei Corp.-Subordinate VTG | Reduce -8.0% | 0.60% | −0.03 |
| SLF Sun Life Financial Inc. | Reduce -19.7% | 0.07% | −0.03 |
| WFG West Fraser Timber Co. Ltd. | Sold out | 0.00% | −0.02 |
| PXD Pioneer Natural Resources Co. | Sold out | 0.00% | −0.02 |
| TU Telus Corp. | Reduce -29.8% | 0.04% | −0.02 |
| SHOP Shopify Inc. Class A | Sold out | 0.00% | −0.02 |
| DCBO Docebo Inc. | Reduce -7.1% | 0.05% | −0.02 |
| IBM Intl Business Machines Corp. | Reduce -3.9% | 0.13% | −0.02 |
| KSS Kohls Corp. | Sold out | 0.00% | −0.02 |
| WY Weyerhaeuser Co. | Sold out | 0.00% | −0.02 |
| BAX Baxter International Inc. | Sold out | 0.00% | −0.02 |
| CVE Cenovus Energy Inc. | Sold out | 0.00% | −0.02 |
| PPG PPG Industries Inc. | Sold out | 0.00% | −0.02 |
| RS Reliance Inc. | Sold out | 0.00% | −0.02 |
| AOS Smith (a.o.) Corp. | Sold out | 0.00% | −0.02 |
| TRP TC Energy Corp. | Reduce -16.4% | 0.06% | −0.02 |
| B Barrick Gold Corp. | Reduce -39.1% | 0.02% | −0.01 |
| META Meta Platforms Inc. Class A | Reduce -9.6% | 0.29% | −0.01 |
| PSX Phillips 66 | Reduce -3.4% | 0.07% | −0.01 |
| NTR Nutrien Ltd. | Reduce -24.3% | 0.03% | −0.01 |
| CAT Caterpillar Inc. | Reduce -6.3% | 0.06% | −0.01 |
| CHGG Chegg Inc. | Sold out | 0.00% | −0.01 |
| GE General Electric | Reduce -12.7% | 0.03% | −0.01 |
Portfolio Buys Q1 2024 → Q2 2024
| GOOGL Alphabet Inc. Class A | Add +347.1% | 1.85% | +1.51 |
| JPM JPMorgan Chase & Co. | Add +264.4% | 1.54% | +1.13 |
| CMS CMS Energy Corp. | Add +4723.2% | 1.11% | +1.09 |
| FTS Fortis Inc. | Add +42.6% | 2.36% | +0.70 |
| LLY Eli Lilly & Co. | Add +1456.2% | 0.70% | +0.66 |
| AZN Astrazeneca PLC-Spons ADR | Add +1.4% | 3.99% | +0.63 |
| ZTS Zoetis Inc. | Add +25.2% | 1.81% | +0.42 |
| AAPL Apple Inc. | Add +8.5% | 1.28% | +0.34 |
| BRK.A Berkshire Hathaway Inc. Class A | Add +97590.0% | 0.78% | +0.30 |
| RIO Rio Tinto PLC-Spon ADR | Add +40.2% | 0.65% | +0.21 |
| TRI Thomson Reuters Corp. | Add +2.3% | 1.61% | +0.18 |
| DSGX The Descartes Systems Grp | Add +19.1% | 0.78% | +0.17 |
| NVO Novo-Nordisk A/S-Spons ADR | Add +150.3% | 0.24% | +0.15 |
| RBA RB Global Inc. | Add +1.8% | 3.97% | +0.14 |
| MELI MercadoLibre Inc. | Add +0.2% | 1.27% | +0.12 |
| NVS Novartis AG-Sponsored ADR | New | 0.12% | +0.12 |
| IBN Icici Bank Ltd.-Spon ADR | Add +4.7% | 0.80% | +0.11 |
| SAP Sap SE-Sponsored ADR | Add +1.1% | 1.66% | +0.10 |
| WCN Waste Connections Inc. | Add +2.4% | 1.49% | +0.09 |
| PXH Inves Rafi Emer MRKT-Usd Inc. | Add +7.5% | 0.64% | +0.08 |
| STN Stantec Inc. | Add +2.9% | 1.40% | +0.07 |
| GOOG Alphabet Inc. Class C | Add +0.5% | 0.37% | +0.07 |
| PG The Procter & Gamble Co. | Add +3.5% | 0.97% | +0.06 |
| PBA Pembina Pipeline Corp. | Add +2.8% | 0.72% | +0.06 |
| XOM Exxon Mobil Corp. | Add +14.9% | 0.36% | +0.05 |
| SU Suncor Energy Inc. | Add +1.1% | 0.68% | +0.04 |
| PRF Invesco Rafi US 1000 ETF | Add +11.4% | 0.34% | +0.04 |
| APH Amphenol Corp. Class A | Add +19.3% | 0.12% | +0.03 |
| BAC Bank of America Corp. | Add +4.3% | 0.29% | +0.03 |
| PXF Invesco Rafi Developed Marke | Add +26.3% | 0.12% | +0.02 |
| QQQM Invesco Nasdaq 100 ETF | New | 0.02% | +0.02 |
| AWK American Water Works Co. Inc. | Add +3.4% | 0.20% | +0.02 |
| PFE Pfizer Inc. | Add +14.0% | 0.13% | +0.02 |
| DVN Devon Energy Corp. | New | 0.02% | +0.02 |
| UNH Unitedhealth Group Inc. | Add +4.4% | 0.19% | +0.02 |
| CARR Carrier Global Corp. | Add +23.6% | 0.06% | +0.02 |
| MTB M & T Bank Corp. | New | 0.02% | +0.02 |
| CVX Chevron Corp. | Add +3.9% | 0.26% | +0.01 |
| PM Philip Morris International | Add +1.6% | 0.09% | +0.01 |
| HUM Humana Inc. | Add +14.2% | 0.04% | +0.01 |
| ELV Elevance Health Inc. | Add +1.7% | 0.09% | +0.01 |
| KO The Coca-Cola Co. | Add +3.8% | 0.07% | +0.01 |
| HPQ HP Inc. | Add +2.6% | 0.04% | +0.01 |
| CHTR Charter Communications Inc. Class A | Add +8.8% | 0.05% | +0.01 |
| MO Altria Group Inc. | Add +2.3% | 0.07% | +0.01 |
| HON Honeywell International Inc. | Add +3.4% | 0.06% | +0.01 |
| SO The Southern Co. | Add +2.7% | 0.04% | +0.01 |
| UPS United Parcel Service Class B | Add +17.2% | 0.05% | +0.00 |
| FDX FedEx Corp. | Add +2.4% | 0.06% | +0.00 |
| MS Morgan Stanley | Add +2.2% | 0.06% | +0.00 |
Notes & Other Activity Q1 2024 → Q2 2024
| SHV iShares 0-1 Year Treasury Bo | TRUST ISHARE 0-1 · principal | Reduce -5.8% | 9,081 | $1.0M |
| AGG iShares Core U.S. Aggregate | CORE US AGGBD ET · principal | Reduce -1.2% | 8,354 | $811K |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | IBOXX INV CP ETF · principal | Reduce -7.9% | 6,293 | $674K |
| ISTB iShares Core 1-5 Year Usd Bo | CORE 1 5 YR USD · principal | Reduce -10.7% | 7,035 | $333K |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 479 | $2.1B | RY, AAPL, NVDA, TD, BMO |
| Q1 2026 | 435 | $1.8B | RY, RBA, AZN, FTS, TD |
| Q4 2025 | 365 | $1.4B | MSFT, AZN, RY, V, WTW |
| Q3 2025 | 357 | $1.7B | RY, MSFT, RBA, J, FTS |
| Q2 2025 | 360 | $1.7B | MSFT, RY, RBA, V, ABT |
| Q1 2025 | 340 | $1.5B | RBA, RY, MSFT, WTW, QSR |
| Q4 2024 | 335 | $1.5B | RY, MSFT, RBA, GOOGL, WTW |
| Q3 2024 | 343 | $1.4B | RY, MSFT, RBA, AZN, CNI |
| Q2 2024 | 314 | $1.3B | MSFT, RY, AZN, RBA, V |
| Q1 2024 | 324 | $1.3B | MSFT, RY, RBA, V, AZN |