Cidel Asset Management Inc.
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed April 17, 2026), Cidel Asset Management Inc. reported 435 stock positions worth $1.8 billion. Its top holding was Royal Bank of Canada (RY) at 4.9% of the portfolio, followed by RB Global (RBA, 3.1%) and Astrazeneca (AZN, 3.0%). Compared with Q4 2025, it opened 75 new positions, sold out of 5, added to 294 and reduced 39. The biggest buy was Toronto-Dominion Bank (TD, shares +184%) and the biggest sale Microsoft (MSFT, shares −20%).
- Most Recent 13F
- Q2 2026
- Location
- TORONTO, A6
- CIK
- 0001621915
- Portfolio Value
- $1.8B (Q1 2026)
- SEC Filing
- 0001621915-26-000002 ↗ filed Apr 17, 2026
Holdings Value
Holdings 435 stocks · $1.8B
| RY Royal Bank of Canada | 4.87% | 553,471 | $89.2M | Add +88.7% |
| RBA RB Global Inc. | 3.13% | 599,791 | $57.3M | Add +80.4% |
| AZN Astrazeneca PLC | 3.01% | 279,490 | $55.1M | Reduce -0.6% |
| FTS Fortis Inc. | 2.98% | 981,216 | $54.6M | Add +82.5% |
| TD Toronto-Dominion Bank | 2.91% | 572,742 | $53.3M | Add +184.1% |
| CNI Canadian Natl Railway Co. | 2.89% | 515,357 | $52.9M | Add +92.4% |
| QSR Restaurant Brands Intern | 2.79% | 693,116 | $51.1M | Add +79.3% |
| AAPL Apple Inc. | 2.68% | 193,373 | $49.1M | Add +150.8% |
| MSFT Microsoft Corp. | 2.53% | 125,188 | $46.3M | Reduce -20.4% |
| CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BANK OF CO | 2.52% | 489,753 | $46.3M | Add +61.1% |
| ABT Abbott Laboratories | 2.31% | 412,395 | $42.3M | Add +28.0% |
| NVDA Nvidia Corp. | 2.15% | 225,481 | $39.3M | Add +29.2% |
| V Visa Inc. Class A | 2.08% | 126,421 | $38.2M | Reduce -7.5% |
| J Jacobs Solutions Inc. | 2.01% | 289,641 | $36.9M | Reduce -6.7% |
| CP Canadian Pacific Kansas City | 1.70% | 398,325 | $31.2M | Add +249.8% |
| CMS CMS Energy Corp. | 1.69% | 398,132 | $30.9M | Add +16.5% |
| WCN Waste Connections Inc. | 1.68% | 190,066 | $30.8M | Add +180.5% |
| WTW Willis Towers Watson PLC | 1.60% | 100,725 | $29.3M | Reduce -22.6% |
| MAR Marriott International Class A | 1.53% | 86,003 | $28.1M | Add +7.8% |
| COP Conocophillips | 1.52% | 211,202 | $27.9M | Add +41.6% |
| JPM JPMorgan Chase & Co. | 1.51% | 93,986 | $27.6M | Add +10.6% |
| CL Colgate-Palmolive Co. | 1.49% | 320,907 | $27.4M | Add +6.5% |
| WEC WEC Energy Group Inc. | 1.38% | 217,803 | $25.2M | Add +7.3% |
| SAP Sap SE-Sponsored ADR | 1.34% | 143,756 | $24.6M | Add +12.4% |
| AMZN Amazon.com Inc. | 1.32% | 116,311 | $24.2M | Add +335.4% |
| GIB Cgi Inc. | 1.31% | 330,213 | $24.1M | Add +122.6% |
| CBOE Cboe Global Markets Inc. | 1.22% | 79,369 | $22.3M | Add +11.8% |
| AQN Algonquin Power & Utilities | 1.18% | 3,535,918 | $21.6M | Add +42.1% |
| BGSI Boyd Group Services Inc. | 1.06% | 152,909 | $19.5M | Add +169.6% |
| MSI Motorola Solutions Inc. | 1.02% | 43,221 | $18.8M | Add +11.3% |
| LLY Eli Lilly & Co. | 0.99% | 19,668 | $18.1M | Reduce -21.7% |
| ZTS Zoetis Inc. | 0.97% | 149,895 | $17.7M | Add +47.1% |
| BMO Bank of Montreal filed as BANK MONTREAL MEDIUM | 0.96% | 130,608 | $17.6M | Add +513.3% |
| PXH Inves Rafi Emer MRKT-Usd Inc. | 0.91% | 619,812 | $16.7M | Add +8.8% |
| WM Waste Management Inc. | 0.88% | 70,291 | $16.2M | Add +4160.1% |
| RSP Invesco S&P 500 Equal Weight | 0.82% | 78,090 | $15.0M | No change |
| MFC Manulife Financial Corp. | 0.78% | 416,206 | $14.3M | Add +1.3% |
| GNTX Gentex Corp. | 0.77% | 647,425 | $14.1M | Add +61.4% |
| STN Stantec Inc. | 0.77% | 163,724 | $14.1M | Add +159.0% |
| CIGI Colliers Intl GR-Subord Vot | 0.74% | 127,860 | $13.6M | Add +189.4% |
| ASML ASML Holding NV-NY Reg SHS filed as ASML HLDG NV | 0.74% | 10,277 | $13.6M | Reduce -24.6% |
| PG The Procter & Gamble Co. | 0.73% | 92,525 | $13.4M | Add +26.7% |
| STGW Stagwell Inc. | 0.70% | 2,039,680 | $12.8M | No change |
| NFLX Netflix Inc. | 0.66% | 126,545 | $12.2M | Add +1449.1% |
| AMD Advanced Micro Devices | 0.62% | 56,073 | $11.4M | Add +2152.8% |
| PBA Pembina Pipeline Corp. | 0.61% | 251,656 | $11.2M | Add +1.0% |
| RIO Rio Tinto PLC-Spon ADR | 0.61% | 120,181 | $11.2M | Reduce -0.2% |
| BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA B C | 0.61% | 161,500 | $11.2M | Add +11.4% |
| LULU Lululemon Athletica Inc. | 0.60% | 72,300 | $11.1M | New |
| GOOGL Alphabet Inc. Class A | 0.58% | 37,248 | $10.7M | Add +11.8% |
| VOO Vanguard S&P 500 ETF | 0.54% | 16,702 | $10.0M | Add +71.1% |
| TRI Thomson Reuters Corp. | 0.53% | 107,248 | $9.6M | Add +122.1% |
| XOM Exxon Mobil Corp. | 0.51% | 55,452 | $9.4M | Add +15.1% |
| SU Suncor Energy Inc. | 0.50% | 139,288 | $9.2M | Add +1673.2% |
| DSGX The Descartes Systems Grp | 0.47% | 121,304 | $8.7M | Add +124.4% |
| GOOG Alphabet Inc. Class C | 0.45% | 28,660 | $8.2M | Add +9.2% |
| TSLA Tesla Inc. | 0.44% | 21,882 | $8.1M | Add +2.5% |
| CCJ Cameco Corp. | 0.44% | 75,000 | $8.1M | No change |
| CNQ Canadian Natural Resources | 0.44% | 164,393 | $8.0M | Reduce -1.8% |
| DRI Darden Restaurants Inc. | 0.44% | 40,737 | $8.0M | New |
| BRK.A Berkshire Hathaway Inc. Class A | 0.39% | 10 | $7.2M | No change |
| CVX Chevron Corp. | 0.38% | 33,325 | $6.9M | Add +14.9% |
| MU Micron Technology Inc. | 0.36% | 19,690 | $6.7M | Reduce -1.8% |
| NGG National Grid PLC-SP ADR | 0.34% | 74,718 | $6.3M | Add +5.0% |
| VEA Vanguard Ftse Developed ETF | 0.34% | 96,345 | $6.2M | Reduce -1.9% |
| VIG Vanguard Dividend Apprec ETF | 0.33% | 28,070 | $6.0M | Reduce -10.6% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.31% | 11,717 | $5.6M | Add +16.8% |
| PRF Invesco Rafi US 1000 ETF | 0.30% | 115,924 | $5.5M | Reduce -0.9% |
| TFII Tfi International Inc. filed as TRANSFORCE INC | 0.28% | 48,078 | $5.2M | Add +3.9% |
| HLN Haleon PLC-ADR | 0.26% | 473,692 | $4.7M | Add +30.0% |
| META Meta Platforms Inc. Class A | 0.24% | 7,785 | $4.5M | Add +34.1% |
| FNDX Schwab Fndmntl US LRG Co. ETF | 0.24% | 155,097 | $4.3M | No change |
| VZ Verizon Communications Inc. | 0.22% | 80,225 | $4.0M | Add +18.0% |
| WMT Walmart Inc. | 0.22% | 32,012 | $4.0M | Add +18.2% |
| HUBB Hubbell Inc. | 0.22% | 8,091 | $4.0M | New |
| JNJ Johnson & Johnson | 0.21% | 16,123 | $3.9M | Add +10.6% |
| INTC Intel Corp. | 0.21% | 86,945 | $3.8M | Add +3.1% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.20% | 75,449 | $3.7M | Add +15.3% |
| UNH Unitedhealth Group Inc. | 0.19% | 12,757 | $3.5M | Add +38.8% |
| T AT&T Inc. | 0.18% | 115,403 | $3.3M | Add +18.6% |
| IVV iShares Core S&P 500 ETF | 0.18% | 5,009 | $3.3M | No change |
| NEE Nextera Energy Inc. | 0.17% | 34,499 | $3.2M | Add +18.2% |
| MELI MercadoLibre Inc. | 0.17% | 1,799 | $3.1M | Reduce -80.7% |
| WFC Wells Fargo & Co. | 0.17% | 38,768 | $3.1M | Add +14.1% |
| AWK American Water Works Co. Inc. | 0.16% | 21,706 | $3.0M | Add +45.2% |
| CVS CVS Health Corp. | 0.16% | 39,565 | $2.8M | Add +16.0% |
| CMCSA Comcast Corp. Class A | 0.15% | 98,116 | $2.8M | Add +52.0% |
| C Citigroup Inc. | 0.15% | 24,684 | $2.8M | Add +9.7% |
| AEM Agnico Eagle Mines Ltd. | 0.15% | 13,740 | $2.8M | Add +3.3% |
| COST Costco Wholesale Corp. | 0.15% | 2,686 | $2.7M | Add +22.3% |
| PFE Pfizer Inc. | 0.14% | 94,241 | $2.6M | Add +20.9% |
| ENB Enbridge Inc. | 0.14% | 48,768 | $2.6M | Add +5.8% |
| VLO Valero Energy Corp. | 0.13% | 9,994 | $2.5M | Add +12.1% |
| MPC Marathon Petroleum Corp. | 0.13% | 9,835 | $2.4M | Add +14.9% |
| MRK Merck & Co. Inc. | 0.13% | 19,652 | $2.4M | Add +15.2% |
| CSCO Cisco Systems Inc. | 0.13% | 30,292 | $2.4M | Add +12.1% |
| GM General Motors Co. | 0.13% | 30,939 | $2.3M | Add +8.5% |
| MKC McCormick & Co.-Non VTG SHRS | 0.11% | 41,138 | $2.1M | Add +41.6% |
| HD Home Depot Inc. | 0.11% | 6,170 | $2.0M | Add +22.1% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.11% | 8,297 | $2.0M | Add +13.2% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $1K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| XRXDW Xerox Holdings Corp. | *W EXP 02/11/202 | 12,022 | $1K | Add +19.1% |
Total filed on the 13F, all lines: $1.8B.
Portfolio Sells Q4 2025 → Q1 2026
| MSFT Microsoft Corp. | Reduce -20.4% | 2.53% | −2.85 |
| WTW Willis Towers Watson PLC | Reduce -22.6% | 1.60% | −1.43 |
| V Visa Inc. Class A | Reduce -7.5% | 2.08% | −1.31 |
| OTEX Open Text Corp. | Reduce -97.0% | 0.02% | −1.26 |
| UNP Union Pacific Corp. | Reduce -90.2% | 0.10% | −1.18 |
| MELI MercadoLibre Inc. | Reduce -80.7% | 0.17% | −1.16 |
| LLY Eli Lilly & Co. | Reduce -21.7% | 0.99% | −0.92 |
| UBER Uber Technologies Inc. | Reduce -94.5% | 0.04% | −0.91 |
| J Jacobs Solutions Inc. | Reduce -6.7% | 2.01% | −0.90 |
| AZN Astrazeneca PLC | Reduce -0.6% | 3.01% | −0.65 |
| GRTUF Granite Real Estate Investme | Sold out | 0.00% | −0.49 |
| ASML ASML Holding NV-NY Reg SHS | Reduce -24.6% | 0.74% | −0.29 |
| VIG Vanguard Dividend Apprec ETF | Reduce -10.6% | 0.33% | −0.16 |
| VEA Vanguard Ftse Developed ETF | Reduce -1.9% | 0.34% | −0.10 |
| PRF Invesco Rafi US 1000 ETF | Reduce -0.9% | 0.30% | −0.09 |
| RIO Rio Tinto PLC-Spon ADR | Reduce -0.2% | 0.61% | −0.07 |
| ACWI iShares MSCI Acwi ETF | Reduce -61.9% | 0.02% | −0.05 |
| APH Amphenol Corp. Class A | Reduce -3.3% | 0.10% | −0.04 |
| MU Micron Technology Inc. | Reduce -1.8% | 0.36% | −0.04 |
| SLF Sun Life Financial Inc. | Reduce -6.8% | 0.08% | −0.03 |
| URTH iShares MSCI World ETF | Reduce -11.4% | 0.06% | −0.03 |
| PXF Invesco Rafi Developed Marke | Reduce -5.4% | 0.11% | −0.03 |
| EMA Emera Inc. | Reduce -18.3% | 0.05% | −0.03 |
| BIZD Vaneck BDC Income ETF | Sold out | 0.00% | −0.02 |
| VB Vanguard Most SM-Cap ETF-Usd | Reduce -1.6% | 0.08% | −0.02 |
| EWJ iShares MSCI Japan ETF | Reduce -2.3% | 0.07% | −0.02 |
| EL Estee Lauder Companies Class A | Sold out | 0.00% | −0.02 |
| VGK Vanguard Ftse Europe ETF | Reduce -2.5% | 0.05% | −0.02 |
| RELX Relx PLC - Spon ADR | Reduce -10.7% | 0.02% | −0.02 |
| BN Brookfield Corp. | Reduce -28.1% | 0.01% | −0.01 |
| QQQM Invesco Nasdaq 100 ETF | Reduce -0.5% | 0.03% | −0.01 |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | Reduce -8.7% | 0.03% | −0.01 |
| NEM Newmont Corp. | Reduce -1.2% | 0.06% | −0.01 |
| ENVX Enovix Corp. | Sold out | 0.00% | −0.01 |
| VBR Vngrd Mrngst SL-CP Val ETF-U | Reduce -24.6% | 0.01% | −0.01 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Reduce -12.9% | 0.02% | −0.01 |
| FNV Franco-Nevada Corp. | Reduce -1.5% | 0.03% | −0.00 |
| CYH Community Health Systems Inc. | Sold out | 0.00% | −0.00 |
| LRCX Lam Research Corp. | Reduce -0.8% | 0.05% | −0.00 |
| NTR Nutrien Ltd. | Reduce -1.5% | 0.02% | −0.00 |
| WDC Western Digital Corp. | Reduce -13.5% | 0.03% | +0.00 |
| GLW Corning Inc. | Reduce -1.4% | 0.03% | +0.00 |
| SNDK Sandisk Corp. | Reduce -7.3% | 0.03% | +0.01 |
| CNQ Canadian Natural Resources | Reduce -1.8% | 0.44% | +0.03 |
Portfolio Buys Q4 2025 → Q1 2026
| TD Toronto-Dominion Bank | Add +184.1% | 2.91% | +1.56 |
| RY Royal Bank of Canada | Add +88.7% | 4.87% | +1.32 |
| AAPL Apple Inc. | Add +150.8% | 2.68% | +1.20 |
| CP Canadian Pacific Kansas City | Add +249.8% | 1.70% | +1.11 |
| CNI Canadian Natl Railway Co. | Add +92.4% | 2.89% | +1.01 |
| FTS Fortis Inc. | Add +82.5% | 2.98% | +1.00 |
| QSR Restaurant Brands Intern | Add +79.3% | 2.79% | +0.92 |
| AMZN Amazon.com Inc. | Add +335.4% | 1.32% | +0.89 |
| WM Waste Management Inc. | Add +4160.1% | 0.88% | +0.86 |
| WCN Waste Connections Inc. | Add +180.5% | 1.68% | +0.84 |
| BMO Bank of Montreal | Add +513.3% | 0.96% | +0.77 |
| RBA RB Global Inc. | Add +80.4% | 3.13% | +0.70 |
| NFLX Netflix Inc. | Add +1449.1% | 0.66% | +0.61 |
| LULU Lululemon Athletica Inc. | New | 0.60% | +0.60 |
| AMD Advanced Micro Devices | Add +2152.8% | 0.62% | +0.58 |
| CM Can Imperial BK of Commerce | Add +61.1% | 2.52% | +0.57 |
| COP Conocophillips | Add +41.6% | 1.52% | +0.53 |
| SU Suncor Energy Inc. | Add +1673.2% | 0.50% | +0.48 |
| DRI Darden Restaurants Inc. | New | 0.44% | +0.44 |
| BGSI Boyd Group Services Inc. | Add +169.6% | 1.06% | +0.42 |
| STN Stantec Inc. | Add +159.0% | 0.77% | +0.35 |
| GIB Cgi Inc. | Add +122.6% | 1.31% | +0.34 |
| CIGI Colliers Intl GR-Subord Vot | Add +189.4% | 0.74% | +0.28 |
| HUBB Hubbell Inc. | New | 0.22% | +0.22 |
| DSGX The Descartes Systems Grp | Add +124.4% | 0.47% | +0.14 |
| VOO Vanguard S&P 500 ETF | Add +71.1% | 0.54% | +0.11 |
| GNTX Gentex Corp. | Add +61.4% | 0.77% | +0.11 |
| XOM Exxon Mobil Corp. | Add +15.1% | 0.51% | +0.10 |
| AQN Algonquin Power & Utilities | Add +42.1% | 1.18% | +0.09 |
| TRI Thomson Reuters Corp. | Add +122.1% | 0.53% | +0.08 |
| IMO Imperial Oil Ltd. | New | 0.06% | +0.06 |
| CVX Chevron Corp. | Add +14.9% | 0.38% | +0.06 |
| ZTS Zoetis Inc. | Add +47.1% | 0.97% | +0.06 |
| IEMG iShares Core MSCI Emerging | New | 0.06% | +0.06 |
| ADI Analog Devices Inc. | Add +113.5% | 0.09% | +0.04 |
| TT Trane Technologies PLC | New | 0.04% | +0.04 |
| BG Bunge Global SA | New | 0.04% | +0.04 |
| MPC Marathon Petroleum Corp. | Add +14.9% | 0.13% | +0.03 |
| VLO Valero Energy Corp. | Add +12.1% | 0.13% | +0.03 |
| DOW Dow Inc. | Add +26.6% | 0.07% | +0.03 |
| NXT Nextpower Inc. | New | 0.03% | +0.03 |
| GDX Vaneck Gold Miners ETF | Add +65.0% | 0.09% | +0.02 |
| BE Bloom Energy Corp. Class A | New | 0.02% | +0.02 |
| VZ Verizon Communications Inc. | Add +18.0% | 0.22% | +0.02 |
| GLD SPDR Gold Shares | Add +69.8% | 0.08% | +0.02 |
| RCI Rogers Communications Inc. Class B | New | 0.02% | +0.02 |
| AWK American Water Works Co. Inc. | Add +45.2% | 0.16% | +0.02 |
| STX Seagate Technology Holdings | New | 0.02% | +0.02 |
| PSX Phillips 66 | Add +17.4% | 0.10% | +0.02 |
| COPX Global X Copper Miners ETF | New | 0.02% | +0.02 |
Notes & Other Activity Q4 2025 → Q1 2026
| XRXDW Xerox Holdings Corp. | *W EXP 02/11/202 | Add +19.1% | 12,022 | $1K |
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 |