Connor, Clark & Lunn Investment Management Ltd.
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 10, 2025), Connor, Clark & Lunn Investment Management Ltd. reported 1,386 stock positions worth $22.1 billion. Its top holding was Royal Bank of Canada (RY) at 6.1% of the portfolio, followed by Shopify Class A (SHOP, 3.4%) and Can Imperial BK of Commerce (CM, 3.1%). Compared with Q3 2024, it opened 285 new positions, sold out of 301, added to 663 and reduced 428. The biggest buy was Shopify Class A (SHOP, shares +30%) and the biggest sale Barrick Gold (B, shares −80%).
- Most Recent 13F
- Q2 2026
- Location
- VANCOUVER, A1
- CIK
- 0001596800
- Portfolio Value
- $22.1B (Q4 2024)
- SEC Filing
- 0001596800-25-000003 ↗ filed Feb 10, 2025
Holdings Value
Holdings 1,386 stocks · $22.1B
| RY Royal Bank of Canada | 6.05% | 11,112,451 | $1.3B | Add +9.0% |
| SHOP Shopify Inc. Class A | 3.41% | 7,095,382 | $754.2M | Add +30.2% |
| CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BK COMM | 3.07% | 10,757,382 | $679.6M | Add +1.1% |
| TD Toronto-Dominion Bank | 2.21% | 9,211,286 | $489.8M | Reduce -5.6% |
| ENB Enbridge Inc. | 2.20% | 11,454,950 | $485.6M | Reduce -6.7% |
| AEM Agnico Eagle Mines Ltd. | 2.14% | 6,046,901 | $472.5M | Add +2.6% |
| BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA HALIFAX | 1.96% | 8,096,123 | $434.2M | Add +5.0% |
| CNQ Canadian Natural Resources | 1.87% | 13,433,797 | $414.2M | Add +31.6% |
| TRI Thomson Reuters Corp. | 1.81% | 2,492,762 | $399.8M | Reduce -3.3% |
| BN Brookfield Corp. | 1.69% | 6,507,113 | $373.5M | Add +11.4% |
| SU Suncor Energy Inc. | 1.63% | 10,132,812 | $361.2M | Add +4.5% |
| CNI Canadian Natl Railway Co. | 1.63% | 3,556,179 | $360.7M | Reduce -10.3% |
| MFC Manulife Financial Corp. | 1.57% | 11,334,413 | $347.8M | Add +1.7% |
| WCN Waste Connections Inc. | 1.55% | 2,000,425 | $342.7M | Add +1.9% |
| TRP TC Energy Corp. | 1.51% | 7,175,940 | $334.0M | Add +6.0% |
| NVDA Nvidia Corp. | 1.47% | 2,422,129 | $325.3M | Reduce -0.6% |
| CP Canadian Pacific Kansas City | 1.40% | 4,267,654 | $308.6M | Reduce -8.7% |
| MSFT Microsoft Corp. | 1.29% | 675,007 | $284.5M | Add +1.3% |
| SLF Sun Life Financial Inc. | 1.24% | 4,630,397 | $274.6M | Reduce -0.8% |
| PBUS Invesco MSCI USA ETF | 1.17% | 4,393,117 | $258.7M | New |
| AAPL Apple Inc. | 1.11% | 980,886 | $245.6M | Add +18.6% |
| CLS Celestica Inc. | 1.05% | 2,524,198 | $232.7M | Reduce -19.6% |
| PBA Pembina Pipeline Corp. | 1.04% | 6,249,624 | $230.6M | Add +0.5% |
| BAM Brookfield Asset Mgmt-A | 0.98% | 3,997,157 | $216.5M | Add +103.4% |
| DSGX The Descartes Systems Grp | 0.98% | 1,901,311 | $215.9M | Reduce -0.6% |
| BMO Bank of Montreal filed as BANK MONTREAL QUE | 0.80% | 1,827,757 | $177.2M | Reduce -7.9% |
| AMZN Amazon.com Inc. | 0.80% | 803,333 | $176.2M | Add +74.3% |
| STN Stantec Inc. | 0.70% | 1,983,637 | $155.4M | Add +11.7% |
| AVGO Broadcom Inc. | 0.69% | 659,734 | $153.0M | Add +17.5% |
| GIB Cgi Inc. | 0.65% | 1,314,719 | $143.7M | Reduce -4.0% |
| CCJ Cameco Corp. | 0.65% | 2,784,147 | $143.0M | Reduce -9.0% |
| KGC Kinross Gold Corp. | 0.62% | 14,665,537 | $136.0M | Add +10.5% |
| FTS Fortis Inc. | 0.61% | 3,239,493 | $134.4M | Reduce -13.6% |
| WPM Wheaton Precious Metals Corp. | 0.53% | 2,102,167 | $118.2M | Reduce -12.6% |
| GOOG Alphabet Inc. Class C | 0.53% | 617,726 | $117.6M | Add +15.1% |
| META Meta Platforms Inc. Class A | 0.52% | 197,615 | $115.7M | Add +20.0% |
| TAC Transalta Corp. | 0.51% | 7,995,489 | $112.9M | Add +638.9% |
| IMO Imperial Oil Ltd. | 0.51% | 1,822,039 | $112.1M | Reduce -13.5% |
| SAP Sap SE-Sponsored ADR | 0.46% | 414,154 | $102.0M | Add +152.0% |
| RBA RB Global Inc. | 0.45% | 1,100,535 | $99.2M | Add +10.8% |
| AGI Alamos Gold Inc. Class A | 0.41% | 4,909,396 | $90.5M | Reduce -11.6% |
| SLB SLB Ltd. filed as SCHLUMBERGER LTD | 0.40% | 2,312,304 | $88.7M | Add +196.8% |
| VALE Vale SA-SP ADR | 0.40% | 9,965,672 | $88.4M | Add +25.3% |
| JPM JPMorgan Chase & Co. | 0.40% | 367,825 | $88.2M | Add +56.7% |
| GIL Gildan Activewear Inc. | 0.39% | 1,850,971 | $87.0M | Add +604.1% |
| HDB HDFC Bank Ltd.-ADR | 0.37% | 1,281,884 | $81.9M | Add +89.1% |
| BCE Bce Inc. | 0.35% | 3,354,794 | $77.7M | Reduce -5.9% |
| BIP Brookfield Infrastructure Pa | 0.34% | 2,383,704 | $75.7M | Reduce -11.9% |
| FSV Firstservice Corp. | 0.34% | 417,487 | $75.5M | Reduce -10.6% |
| LOW Lowe's Cos Inc. | 0.33% | 295,900 | $73.0M | Add +742.1% |
| INTC Intel Corp. | 0.32% | 3,570,068 | $71.6M | Add +67.0% |
| IBN Icici Bank Ltd.-Spon ADR | 0.31% | 2,298,214 | $68.6M | Add +8.0% |
| GRTUF Granite Real Estate Investme | 0.30% | 1,390,973 | $67.4M | Reduce -3.8% |
| WIX Wix.com Ltd. | 0.30% | 314,039 | $67.4M | Add +4.2% |
| ANET Arista Networks Inc. | 0.30% | 609,205 | $67.3M | Add +4026.3% |
| FNV Franco-Nevada Corp. | 0.30% | 572,116 | $67.1M | Reduce -15.7% |
| INFY Infosys Ltd.-SP ADR | 0.30% | 2,983,837 | $65.4M | Add +36.5% |
| TSM Taiwan Semiconductor-SP ADR | 0.29% | 329,323 | $65.0M | Add +28.6% |
| TSLA Tesla Inc. | 0.29% | 158,776 | $64.1M | Add +49.1% |
| HBM Hudbay Minerals Inc. | 0.29% | 7,800,892 | $63.2M | Add +0.6% |
| INTU Intuit Inc. | 0.27% | 95,003 | $59.7M | Reduce -7.7% |
| P Everpure Inc. Class A filed as PURE STORAGE INC | 0.27% | 957,699 | $58.8M | Reduce -21.9% |
| SE Sea Ltd.-ADR | 0.27% | 553,140 | $58.7M | Reduce -2.2% |
| GFL GFL Environmental Inc.-Sub VT | 0.26% | 1,292,419 | $57.5M | Add +15.1% |
| WMT Walmart Inc. | 0.26% | 631,589 | $57.1M | Add +107.5% |
| PHG Koninklijke Philips NVR- NY | 0.25% | 2,222,192 | $56.3M | Add +87.7% |
| COIN Coinbase Global Inc. Class A | 0.25% | 226,106 | $56.1M | New |
| NTAP Netapp Inc. | 0.25% | 475,860 | $55.2M | Add +44.8% |
| TCOM Trip.com Group Ltd.-ADR | 0.25% | 797,786 | $54.8M | Add +114.5% |
| JNJ Johnson & Johnson | 0.25% | 375,834 | $54.4M | Add +557.1% |
| ONC Beone Medicines Ltd.-ADR filed as BEIGENE LTD | 0.24% | 284,394 | $52.5M | Add +25.9% |
| NFLX Netflix Inc. | 0.24% | 58,701 | $52.3M | Add +14.5% |
| OR Osisko Gold Royalties Ltd. | 0.23% | 2,869,300 | $51.9M | Reduce -5.2% |
| BB Blackberry Ltd. | 0.23% | 13,669,715 | $51.9M | Add +42.0% |
| ATS Ats Corp. | 0.23% | 1,671,264 | $50.9M | Add +333.3% |
| NTNX Nutanix Inc. Class A | 0.23% | 828,221 | $50.7M | Reduce -20.6% |
| ADBE Adobe Inc. | 0.22% | 111,269 | $49.5M | Add +1385.4% |
| BA The Boeing Co. | 0.22% | 279,237 | $49.4M | Reduce -0.5% |
| INCY Incyte Corp. | 0.22% | 704,085 | $48.6M | Add +20.9% |
| FCX Freeport-McMoran Inc. | 0.22% | 1,269,218 | $48.3M | Add +186.7% |
| COP Conocophillips | 0.22% | 486,307 | $48.2M | New |
| DAY Dayforce Inc. | 0.22% | 660,613 | $47.9M | Add +18250.4% |
| COST Costco Wholesale Corp. | 0.21% | 51,541 | $47.2M | Reduce -22.4% |
| KB KB Financial Group Inc.-ADR filed as KB FINL GROUP INC | 0.21% | 815,893 | $46.4M | Add +4.7% |
| OKTA Okta Inc. | 0.20% | 568,797 | $44.8M | Add +58.8% |
| IQV Iqvia Holdings Inc. | 0.20% | 227,512 | $44.7M | Add +789.9% |
| HPE Hewlett Packard Enterprise | 0.20% | 2,068,344 | $44.2M | Add +2.6% |
| ROKU Roku Inc. | 0.20% | 593,789 | $44.1M | Reduce -9.7% |
| EFXT Enerflex Ltd. | 0.20% | 4,418,980 | $43.9M | New |
| AER Aercap Holdings NV | 0.20% | 455,471 | $43.6M | Add +62.8% |
| U Unity Software Inc. | 0.20% | 1,936,131 | $43.5M | Add +366.6% |
| GOOGL Alphabet Inc. Class A | 0.19% | 225,805 | $42.7M | Reduce -4.4% |
| NTR Nutrien Ltd. | 0.19% | 943,187 | $42.1M | Reduce -26.7% |
| QSR Restaurant Brands Intern | 0.19% | 645,959 | $42.0M | Reduce -70.7% |
| SOFI Sofi Technologies Inc. | 0.19% | 2,729,750 | $42.0M | Reduce -30.7% |
| TU Telus Corp. | 0.19% | 3,089,646 | $41.8M | Reduce -46.3% |
| AXON Axon Enterprise Inc. | 0.19% | 69,028 | $41.0M | New |
| RBLX Roblox Corp. Class A | 0.18% | 704,491 | $40.8M | Add +101.7% |
| CORT Corcept Therapeutics Inc. | 0.18% | 796,795 | $40.2M | Reduce -7.3% |
| MRVL Marvell Technology Inc. | 0.18% | 362,647 | $40.1M | Reduce -43.6% |
Portfolio Sells Q3 2024 → Q4 2024
| B Barrick Gold Corp. | Reduce -79.6% | 0.14% | −0.82 |
| TD Toronto-Dominion Bank | Reduce -5.6% | 2.21% | −0.78 |
| CNI Canadian Natl Railway Co. | Reduce -10.3% | 1.63% | −0.62 |
| QSR Restaurant Brands Intern | Reduce -70.7% | 0.19% | −0.58 |
| CP Canadian Pacific Kansas City | Reduce -8.7% | 1.40% | −0.54 |
| RCI Rogers Communications Inc. Class B | Reduce -81.3% | 0.07% | −0.44 |
| CVE Cenovus Energy Inc. | Reduce -82.3% | 0.07% | −0.42 |
| INDA iShares MSCI India ETF | Reduce -95.8% | 0.01% | −0.37 |
| PG The Procter & Gamble Co. | Reduce -82.5% | 0.07% | −0.35 |
| TRI Thomson Reuters Corp. | Reduce -3.3% | 1.81% | −0.32 |
| PDD PDD Holdings Inc. | Reduce -61.4% | 0.11% | −0.32 |
| TU Telus Corp. | Reduce -46.3% | 0.19% | −0.28 |
| BCE Bce Inc. | Reduce -5.9% | 0.35% | −0.25 |
| ENB Enbridge Inc. | Reduce -6.7% | 2.20% | −0.22 |
| FTS Fortis Inc. | Reduce -13.6% | 0.61% | −0.22 |
| IMO Imperial Oil Ltd. | Reduce -13.5% | 0.51% | −0.21 |
| TJX TJX Companies Inc. | Sold out | 0.00% | −0.18 |
| WPM Wheaton Precious Metals Corp. | Reduce -12.6% | 0.53% | −0.18 |
| KO The Coca-Cola Co. | Reduce -80.1% | 0.03% | −0.16 |
| DIS The Walt Disney Co. | Sold out | 0.00% | −0.15 |
| MRK Merck & Co. Inc. | Reduce -41.3% | 0.14% | −0.15 |
| TECK Teck Resources Ltd.-CLS B | Reduce -43.9% | 0.10% | −0.15 |
| LLY Eli Lilly & Co. | Reduce -49.5% | 0.10% | −0.15 |
| CRM Salesforce Inc. | Reduce -92.5% | 0.01% | −0.14 |
| EL Estee Lauder Companies Class A | Sold out | 0.00% | −0.14 |
| GS Goldman Sachs Group Inc. | Reduce -88.7% | 0.02% | −0.14 |
| CYBR Cyberark Software Ltd./Israel | Reduce -96.4% | 0.01% | −0.14 |
| CVX Chevron Corp. | Reduce -73.8% | 0.04% | −0.13 |
| MS Morgan Stanley | Reduce -71.1% | 0.06% | −0.13 |
| VRN Veren Inc. | Reduce -82.4% | 0.02% | −0.13 |
| ROP Roper Technologies Inc. | Reduce -79.6% | 0.03% | −0.13 |
| AGI Alamos Gold Inc. Class A | Reduce -11.6% | 0.41% | −0.13 |
| MMM 3M Co. | Sold out | 0.00% | −0.13 |
| TDG Transdigm Group Inc. | Reduce -66.2% | 0.05% | −0.13 |
| BTG B2GOLD Corp. | Reduce -60.3% | 0.05% | −0.12 |
| V Visa Inc. Class A | Reduce -52.1% | 0.13% | −0.12 |
| SCCO Southern Copper Corp. | Reduce -91.4% | 0.01% | −0.12 |
| GRTUF Granite Real Estate Investme | Reduce -3.8% | 0.30% | −0.12 |
| BIP Brookfield Infrastructure Pa | Reduce -11.9% | 0.34% | −0.12 |
| GIB Cgi Inc. | Reduce -4.0% | 0.65% | −0.11 |
| FMX Fomento Economico Mex-SP ADR | Reduce -68.9% | 0.04% | −0.11 |
| NTR Nutrien Ltd. | Reduce -26.7% | 0.19% | −0.11 |
| MDT Medtronic PLC | Reduce -66.5% | 0.04% | −0.11 |
| FNV Franco-Nevada Corp. | Reduce -15.7% | 0.30% | −0.11 |
| EXE Expand Energy Corp. | Reduce -94.3% | 0.01% | −0.10 |
| NVS Novartis AG-Sponsored ADR | Reduce -95.6% | 0.00% | −0.10 |
| REGN Regeneron Pharmaceuticals | Reduce -95.5% | 0.00% | −0.10 |
| CME Cme Group Inc. | Sold out | 0.00% | −0.10 |
| GWRE Guidewire Software Inc. | Sold out | 0.00% | −0.10 |
| WFC Wells Fargo & Co. | Reduce -70.5% | 0.05% | −0.10 |
Portfolio Buys Q3 2024 → Q4 2024
| SHOP Shopify Inc. Class A | Add +30.2% | 3.41% | +1.29 |
| PBUS Invesco MSCI USA ETF | New | 1.17% | +1.17 |
| BAM Brookfield Asset Mgmt-A | Add +103.4% | 0.98% | +0.53 |
| TAC Transalta Corp. | Add +638.9% | 0.51% | +0.46 |
| AMZN Amazon.com Inc. | Add +74.3% | 0.80% | +0.38 |
| GIL Gildan Activewear Inc. | Add +604.1% | 0.39% | +0.33 |
| ANET Arista Networks Inc. | Add +4026.3% | 0.30% | +0.30 |
| LOW Lowe's Cos Inc. | Add +742.1% | 0.33% | +0.28 |
| SAP Sap SE-Sponsored ADR | Add +152.0% | 0.46% | +0.28 |
| COIN Coinbase Global Inc. Class A | New | 0.25% | +0.25 |
| SLB SLB Ltd. | Add +196.8% | 0.40% | +0.24 |
| CNQ Canadian Natural Resources | Add +31.6% | 1.87% | +0.23 |
| AVGO Broadcom Inc. | Add +17.5% | 0.69% | +0.22 |
| COP Conocophillips | New | 0.22% | +0.22 |
| DAY Dayforce Inc. | Add +18250.4% | 0.22% | +0.22 |
| ADBE Adobe Inc. | Add +1385.4% | 0.22% | +0.20 |
| JNJ Johnson & Johnson | Add +557.1% | 0.25% | +0.20 |
| EFXT Enerflex Ltd. | New | 0.20% | +0.20 |
| BN Brookfield Corp. | Add +11.4% | 1.69% | +0.19 |
| AXON Axon Enterprise Inc. | New | 0.19% | +0.19 |
| AAPL Apple Inc. | Add +18.6% | 1.11% | +0.18 |
| ATS Ats Corp. | Add +333.3% | 0.23% | +0.18 |
| IQV Iqvia Holdings Inc. | Add +789.9% | 0.20% | +0.17 |
| HDB HDFC Bank Ltd.-ADR | Add +89.1% | 0.37% | +0.16 |
| JPM JPMorgan Chase & Co. | Add +56.7% | 0.40% | +0.16 |
| TSLA Tesla Inc. | Add +49.1% | 0.29% | +0.15 |
| U Unity Software Inc. | Add +366.6% | 0.20% | +0.15 |
| GRAB Grab Holdings Ltd. Class A | Add +939.6% | 0.16% | +0.15 |
| TCOM Trip.com Group Ltd.-ADR | Add +114.5% | 0.25% | +0.14 |
| WMT Walmart Inc. | Add +107.5% | 0.26% | +0.14 |
| PTON Peloton Interactive Inc. Class A | Add +245.7% | 0.17% | +0.14 |
| EMBJ Embraer SA-Spon ADR | Add +959.2% | 0.14% | +0.12 |
| APO Apollo Global Management Inc. | New | 0.12% | +0.12 |
| BLK BlackRock Inc. | Add +218.6% | 0.17% | +0.12 |
| TRGP Targa Resources Corp. | Add +281.8% | 0.15% | +0.11 |
| BB Blackberry Ltd. | Add +42.0% | 0.23% | +0.11 |
| FCX Freeport-McMoran Inc. | Add +186.7% | 0.22% | +0.11 |
| RBLX Roblox Corp. Class A | Add +101.7% | 0.18% | +0.11 |
| BAC Bank of America Corp. | Add +927.0% | 0.12% | +0.11 |
| RTX RTX Corp. | New | 0.11% | +0.11 |
| CSCO Cisco Systems Inc. | Add +1145.0% | 0.12% | +0.11 |
| RKLB Rocket Lab USA Inc. | New | 0.10% | +0.10 |
| NEM Newmont Corp. | New | 0.10% | +0.10 |
| GOOG Alphabet Inc. Class C | Add +15.1% | 0.53% | +0.10 |
| ED Consolidated Edison Inc. | Add +3160.6% | 0.10% | +0.09 |
| CAT Caterpillar Inc. | New | 0.09% | +0.09 |
| IONQ Ionq Inc. | New | 0.09% | +0.09 |
| ORCL Oracle Corp. | Add +581.8% | 0.10% | +0.09 |
| UBER Uber Technologies Inc. | New | 0.09% | +0.09 |
| MET Metlife Inc. | Add +7148.4% | 0.09% | +0.08 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 1,621 | $52.8B | RY, TD, NVDA, ENB, AAPL |
| Q1 2026 | 1,525 | $43.4B | RY, AEM, TD, SU, ENB |
| Q4 2025 | 1,505 | $38.1B | RY, AEM, SHOP, TD, CM |
| Q3 2025 | 1,475 | $31.7B | RY, AEM, SHOP, CM, TD |
| Q2 2025 | 1,486 | $28.4B | RY, AEM, SHOP, TD, CM |
| Q1 2025 | 1,383 | $22.9B | RY, AEM, SHOP, TD, CM |
| Q4 2024 | 1,386 | $22.1B | RY, SHOP, CM, TD, ENB |
| Q3 2024 | 1,400 | $20.6B | RY, CM, TD, ENB, AEM |
| Q2 2024 | 1,345 | $23.8B | RY, MSFT, AAPL, TD, NVDA |
| Q1 2024 | 1,501 | $23.2B | RY, TD, BNS, AAPL, SHOP |