Connor, Clark & Lunn Investment Management Ltd.
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 12, 2025), Connor, Clark & Lunn Investment Management Ltd. reported 1,383 stock positions worth $22.9 billion. Its top holding was Royal Bank of Canada (RY) at 5.6% of the portfolio, followed by Agnico Eagle Mines (AEM, 3.2%) and Shopify Class A (SHOP, 2.7%). Compared with Q4 2024, it opened 270 new positions, sold out of 273, added to 650 and reduced 446. The biggest buy was Agnico Eagle Mines (AEM, shares +11%) and the biggest sale Can Imperial BK of Commerce (CM, shares −13%).
- Most Recent 13F
- Q2 2026
- Location
- VANCOUVER, A1
- CIK
- 0001596800
- Portfolio Value
- $22.9B (Q1 2025)
- SEC Filing
- 0001596800-25-000006 ↗ filed May 12, 2025
Holdings Value
Holdings 1,383 stocks · $22.9B
| RY Royal Bank of Canada | 5.62% | 11,431,721 | $1.3B | Add +2.9% |
| AEM Agnico Eagle Mines Ltd. | 3.18% | 6,720,301 | $728.2M | Add +11.1% |
| SHOP Shopify Inc. Class A | 2.74% | 6,602,764 | $628.2M | Reduce -6.9% |
| TD Toronto-Dominion Bank | 2.53% | 9,667,825 | $579.4M | Add +5.0% |
| CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BK COMM | 2.31% | 9,405,853 | $529.2M | Reduce -12.6% |
| ENB Enbridge Inc. | 2.21% | 11,446,093 | $506.7M | Reduce -0.1% |
| WCN Waste Connections Inc. | 2.05% | 2,413,615 | $470.5M | Add +20.7% |
| TRP TC Energy Corp. | 1.94% | 9,418,858 | $444.9M | Add +31.3% |
| TRI Thomson Reuters Corp. | 1.91% | 2,537,660 | $438.0M | Add +1.8% |
| SU Suncor Energy Inc. | 1.67% | 9,878,076 | $382.5M | Reduce -2.5% |
| MFC Manulife Financial Corp. | 1.56% | 11,447,174 | $356.7M | Add +1.0% |
| CNQ Canadian Natural Resources | 1.44% | 10,738,366 | $330.5M | Reduce -20.1% |
| CNI Canadian Natl Railway Co. | 1.36% | 3,200,236 | $311.5M | Reduce -10.0% |
| BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA HALIFAX | 1.31% | 6,321,716 | $299.8M | Reduce -21.9% |
| BN Brookfield Corp. | 1.24% | 5,436,314 | $284.5M | Reduce -16.5% |
| SLF Sun Life Financial Inc. | 1.24% | 4,957,785 | $283.8M | Add +7.1% |
| NVDA Nvidia Corp. | 1.21% | 2,550,368 | $276.4M | Add +5.3% |
| FNV Franco-Nevada Corp. | 1.17% | 1,705,489 | $268.3M | Add +198.1% |
| MSFT Microsoft Corp. | 1.15% | 704,772 | $264.6M | Add +4.4% |
| CP Canadian Pacific Kansas City | 1.11% | 3,631,836 | $254.9M | Reduce -14.9% |
| PBUS Invesco MSCI USA ETF | 1.11% | 4,523,117 | $253.4M | Add +3.0% |
| AAPL Apple Inc. | 1.06% | 1,091,663 | $242.5M | Add +11.3% |
| FTS Fortis Inc. | 0.98% | 4,922,870 | $224.3M | Add +52.0% |
| WPM Wheaton Precious Metals Corp. | 0.83% | 2,465,542 | $191.4M | Add +17.3% |
| BMO Bank of Montreal filed as BANK MONTREAL QUE | 0.80% | 1,930,906 | $184.4M | Add +5.6% |
| PBA Pembina Pipeline Corp. | 0.80% | 4,583,881 | $183.4M | Reduce -26.6% |
| AMZN Amazon.com Inc. | 0.76% | 921,366 | $175.3M | Add +14.7% |
| STN Stantec Inc. | 0.75% | 2,081,133 | $172.5M | Add +4.9% |
| DSGX The Descartes Systems Grp | 0.75% | 1,697,733 | $170.9M | Reduce -10.7% |
| KGC Kinross Gold Corp. | 0.72% | 13,019,558 | $164.1M | Reduce -11.2% |
| AGI Alamos Gold Inc. Class A | 0.68% | 5,866,755 | $156.8M | Add +19.5% |
| RBA RB Global Inc. | 0.60% | 1,373,690 | $137.9M | Add +24.8% |
| INFY Infosys Ltd.-SP ADR | 0.56% | 7,002,648 | $127.8M | Add +134.7% |
| IMO Imperial Oil Ltd. | 0.55% | 1,735,293 | $125.4M | Reduce -4.8% |
| GIB Cgi Inc. | 0.54% | 1,237,409 | $123.6M | Reduce -5.9% |
| GOOG Alphabet Inc. Class C | 0.51% | 746,335 | $116.6M | Add +20.8% |
| CLS Celestica Inc. | 0.51% | 1,474,182 | $116.3M | Reduce -41.6% |
| PAAS Pan American Silver Corp. | 0.50% | 4,451,864 | $115.0M | Add +319.1% |
| VALE Vale SA-SP ADR | 0.50% | 11,523,471 | $115.0M | Add +15.6% |
| LOW Lowe's Cos Inc. | 0.47% | 460,396 | $107.4M | Add +55.6% |
| BAM Brookfield Asset Mgmt-A | 0.46% | 2,187,561 | $105.9M | Reduce -45.3% |
| CCJ Cameco Corp. | 0.46% | 2,557,755 | $105.3M | Reduce -8.1% |
| META Meta Platforms Inc. Class A | 0.40% | 159,096 | $91.7M | Reduce -19.5% |
| JPM JPMorgan Chase & Co. | 0.40% | 371,383 | $91.1M | Add +1.0% |
| QSR Restaurant Brands Intern | 0.39% | 1,339,123 | $89.3M | Add +107.3% |
| FSV Firstservice Corp. | 0.39% | 533,385 | $88.5M | Add +27.8% |
| TSM Taiwan Semiconductor-SP ADR | 0.38% | 528,878 | $87.8M | Add +60.6% |
| HDB HDFC Bank Ltd.-ADR | 0.38% | 1,318,530 | $87.6M | Add +2.9% |
| BB Blackberry Ltd. | 0.38% | 23,112,391 | $87.1M | Add +69.1% |
| CORT Corcept Therapeutics Inc. | 0.37% | 751,218 | $85.8M | Reduce -5.7% |
| CAT Caterpillar Inc. | 0.37% | 256,656 | $84.6M | Add +356.7% |
| SE Sea Ltd.-ADR | 0.37% | 647,821 | $84.5M | Add +17.1% |
| MRVL Marvell Technology Inc. | 0.35% | 1,315,251 | $81.0M | Add +262.7% |
| SLB SLB Ltd. filed as SCHLUMBERGER LTD | 0.35% | 1,917,750 | $80.2M | Reduce -17.1% |
| ONC Beone Medicines Ltd.-ADR filed as BEIGENE LTD | 0.35% | 291,606 | $79.4M | Add +2.5% |
| ABNB Airbnb Inc. Class A | 0.34% | 661,684 | $79.0M | Add +205.0% |
| AVGO Broadcom Inc. | 0.34% | 467,722 | $78.3M | Reduce -29.1% |
| IBN Icici Bank Ltd.-Spon ADR | 0.34% | 2,437,262 | $76.8M | Add +6.0% |
| AMD Advanced Micro Devices | 0.32% | 709,028 | $72.8M | New |
| INTC Intel Corp. | 0.30% | 3,029,032 | $68.8M | Reduce -15.2% |
| BKNG Booking Holdings Inc. | 0.29% | 14,514 | $66.9M | Add +412.7% |
| PM Philip Morris International | 0.28% | 407,588 | $64.7M | Add +43.0% |
| RCI Rogers Communications Inc. Class B | 0.27% | 2,348,091 | $62.7M | Add +380.4% |
| ABT Abbott Laboratories | 0.27% | 460,012 | $61.0M | Add +200.6% |
| GRTUF Granite Real Estate Investme | 0.26% | 1,291,883 | $60.2M | Reduce -7.1% |
| DASH DoorDash Inc. Class A | 0.26% | 323,287 | $59.1M | New |
| WIX Wix.com Ltd. | 0.26% | 361,595 | $59.1M | Add +15.1% |
| IQV Iqvia Holdings Inc. | 0.26% | 334,495 | $59.0M | Add +47.0% |
| NTR Nutrien Ltd. | 0.26% | 1,182,421 | $58.7M | Add +25.4% |
| ANET Arista Networks Inc. | 0.25% | 752,231 | $58.3M | Add +23.5% |
| WMT Walmart Inc. | 0.25% | 661,328 | $58.1M | Add +4.7% |
| TRGP Targa Resources Corp. | 0.25% | 288,214 | $57.8M | Add +59.5% |
| EMBJ Embraer SA-Spon ADR | 0.24% | 1,215,393 | $56.2M | Add +47.4% |
| GFL GFL Environmental Inc.-Sub VT | 0.24% | 1,131,798 | $54.7M | Reduce -12.4% |
| OKTA Okta Inc. | 0.24% | 519,071 | $54.6M | Reduce -8.7% |
| U Unity Software Inc. | 0.24% | 2,773,157 | $54.3M | Add +43.2% |
| MT Arcelormittal-NY Registered | 0.24% | 1,872,477 | $54.0M | Add +22.0% |
| B Barrick Gold Corp. | 0.23% | 2,769,477 | $53.8M | Add +35.6% |
| AXON Axon Enterprise Inc. | 0.23% | 102,148 | $53.7M | Add +48.0% |
| AER Aercap Holdings NV | 0.23% | 510,386 | $52.1M | Add +12.1% |
| UNH Unitedhealth Group Inc. | 0.23% | 99,084 | $51.9M | Add +249.4% |
| NFLX Netflix Inc. | 0.22% | 55,161 | $51.4M | Reduce -6.0% |
| GOOGL Alphabet Inc. Class A | 0.22% | 332,007 | $51.3M | Add +47.0% |
| GRAB Grab Holdings Ltd. Class A | 0.22% | 11,275,716 | $51.1M | Add +49.5% |
| GIL Gildan Activewear Inc. | 0.22% | 1,125,293 | $49.8M | Reduce -39.2% |
| PDD PDD Holdings Inc. | 0.22% | 418,730 | $49.6M | Add +65.7% |
| XOM Exxon Mobil Corp. | 0.22% | 416,595 | $49.5M | Add +181.8% |
| ATS Ats Corp. | 0.21% | 1,976,154 | $49.3M | Add +18.2% |
| EFXT Enerflex Ltd. | 0.21% | 6,282,450 | $48.6M | Add +42.2% |
| T AT&T Inc. | 0.21% | 1,697,283 | $48.0M | Add +182.0% |
| RBLX Roblox Corp. Class A | 0.21% | 810,183 | $47.2M | Add +15.0% |
| VZ Verizon Communications Inc. | 0.20% | 1,028,345 | $46.6M | Add +1028.5% |
| ROKU Roku Inc. | 0.20% | 656,055 | $46.2M | Add +10.5% |
| TMUS T-Mobile US Inc. | 0.20% | 172,801 | $46.1M | Add +4.3% |
| KB KB Financial Group Inc.-ADR filed as KB FINL GROUP INC | 0.20% | 844,377 | $45.7M | Add +3.5% |
| NTNX Nutanix Inc. Class A | 0.20% | 652,131 | $45.5M | Reduce -21.3% |
| PHG Koninklijke Philips NVR- NY | 0.19% | 1,756,047 | $44.6M | Reduce -21.0% |
| CHT Chunghwa Telecom LT-Spon ADR | 0.19% | 1,116,747 | $43.8M | Add +15.0% |
| TSLA Tesla Inc. | 0.19% | 167,101 | $43.3M | Add +5.2% |
| INTU Intuit Inc. | 0.19% | 69,985 | $43.0M | Reduce -26.3% |
Portfolio Sells Q4 2024 → Q1 2025
| CM Can Imperial BK of Commerce | Reduce -12.6% | 2.31% | −0.76 |
| SHOP Shopify Inc. Class A | Reduce -6.9% | 2.74% | −0.67 |
| BNS Bank of Nova Scotia | Reduce -21.9% | 1.31% | −0.66 |
| CLS Celestica Inc. | Reduce -41.6% | 0.51% | −0.54 |
| BAM Brookfield Asset Mgmt-A | Reduce -45.3% | 0.46% | −0.52 |
| BN Brookfield Corp. | Reduce -16.5% | 1.24% | −0.45 |
| SAP Sap SE-Sponsored ADR | Reduce -94.8% | 0.03% | −0.44 |
| CNQ Canadian Natural Resources | Reduce -20.1% | 1.44% | −0.43 |
| TAC Transalta Corp. | Reduce -66.4% | 0.11% | −0.40 |
| AVGO Broadcom Inc. | Reduce -29.1% | 0.34% | −0.35 |
| CP Canadian Pacific Kansas City | Reduce -14.9% | 1.11% | −0.28 |
| CNI Canadian Natl Railway Co. | Reduce -10.0% | 1.36% | −0.27 |
| PBA Pembina Pipeline Corp. | Reduce -26.6% | 0.80% | −0.24 |
| BCE Bce Inc. | Reduce -66.6% | 0.11% | −0.24 |
| DSGX The Descartes Systems Grp | Reduce -10.7% | 0.75% | −0.23 |
| BIP Brookfield Infrastructure Pa | Reduce -61.6% | 0.12% | −0.22 |
| BA The Boeing Co. | Reduce -98.4% | 0.00% | −0.22 |
| HBM Hudbay Minerals Inc. | Reduce -69.7% | 0.08% | −0.21 |
| CCJ Cameco Corp. | Reduce -8.1% | 0.46% | −0.19 |
| GIL Gildan Activewear Inc. | Reduce -39.2% | 0.22% | −0.18 |
| FCX Freeport-McMoran Inc. | Reduce -76.1% | 0.05% | −0.17 |
| TU Telus Corp. | Reduce -85.7% | 0.03% | −0.16 |
| JNJ Johnson & Johnson | Reduce -68.3% | 0.09% | −0.16 |
| COST Costco Wholesale Corp. | Reduce -68.5% | 0.07% | −0.15 |
| ADBE Adobe Inc. | Reduce -56.8% | 0.08% | −0.14 |
| DAY Dayforce Inc. | Reduce -54.0% | 0.08% | −0.14 |
| TCOM Trip.com Group Ltd.-ADR | Reduce -50.4% | 0.11% | −0.14 |
| COIN Coinbase Global Inc. Class A | Reduce -30.7% | 0.12% | −0.14 |
| MRK Merck & Co. Inc. | Reduce -96.2% | 0.00% | −0.13 |
| DUK Duke Energy Corp. | Reduce -99.0% | 0.00% | −0.13 |
| EW Edwards Lifesciences Corp. | Sold out | 0.00% | −0.13 |
| HCA HCA Healthcare Inc. | Sold out | 0.00% | −0.13 |
| META Meta Platforms Inc. Class A | Reduce -19.5% | 0.40% | −0.12 |
| WFG West Fraser Timber Co. Ltd. | Reduce -94.9% | 0.01% | −0.12 |
| BEP Brookfield Renewable Partner | Reduce -76.0% | 0.03% | −0.12 |
| COP Conocophillips | Reduce -55.0% | 0.10% | −0.12 |
| APO Apollo Global Management Inc. | Sold out | 0.00% | −0.12 |
| GIB Cgi Inc. | Reduce -5.9% | 0.54% | −0.11 |
| QCOM Qualcomm Inc. | Reduce -95.1% | 0.01% | −0.11 |
| TEAM Atlassian Corp. Class A | Reduce -95.8% | 0.00% | −0.11 |
| SOFI Sofi Technologies Inc. | Reduce -41.0% | 0.08% | −0.11 |
| BTI British American Tob-SP ADR | Reduce -89.6% | 0.01% | −0.11 |
| NEM Newmont Corp. | Sold out | 0.00% | −0.10 |
| P Everpure Inc. Class A | Reduce -8.8% | 0.17% | −0.10 |
| ED Consolidated Edison Inc. | Reduce -96.9% | 0.00% | −0.09 |
| SILV Silvercrest Metals Inc. | Sold out | 0.00% | −0.09 |
| SO The Southern Co. | Reduce -98.3% | 0.00% | −0.09 |
| UBER Uber Technologies Inc. | Sold out | 0.00% | −0.09 |
| PBR Petroleo Brasileiro-Spon ADR | Sold out | 0.00% | −0.09 |
| TSN Tyson Foods Inc. Class A | Sold out | 0.00% | −0.08 |
Portfolio Buys Q4 2024 → Q1 2025
| AEM Agnico Eagle Mines Ltd. | Add +11.1% | 3.18% | +1.04 |
| FNV Franco-Nevada Corp. | Add +198.1% | 1.17% | +0.87 |
| WCN Waste Connections Inc. | Add +20.7% | 2.05% | +0.50 |
| TRP TC Energy Corp. | Add +31.3% | 1.94% | +0.43 |
| PAAS Pan American Silver Corp. | Add +319.1% | 0.50% | +0.40 |
| FTS Fortis Inc. | Add +52.0% | 0.98% | +0.37 |
| AMD Advanced Micro Devices | New | 0.32% | +0.32 |
| TD Toronto-Dominion Bank | Add +5.0% | 2.53% | +0.31 |
| WPM Wheaton Precious Metals Corp. | Add +17.3% | 0.83% | +0.30 |
| CAT Caterpillar Inc. | Add +356.7% | 0.37% | +0.28 |
| AGI Alamos Gold Inc. Class A | Add +19.5% | 0.68% | +0.28 |
| INFY Infosys Ltd.-SP ADR | Add +134.7% | 0.56% | +0.26 |
| DASH DoorDash Inc. Class A | New | 0.26% | +0.26 |
| BKNG Booking Holdings Inc. | Add +412.7% | 0.29% | +0.23 |
| ABNB Airbnb Inc. Class A | Add +205.0% | 0.34% | +0.22 |
| RCI Rogers Communications Inc. Class B | Add +380.4% | 0.27% | +0.21 |
| QSR Restaurant Brands Intern | Add +107.3% | 0.39% | +0.20 |
| ABT Abbott Laboratories | Add +200.6% | 0.27% | +0.19 |
| VZ Verizon Communications Inc. | Add +1028.5% | 0.20% | +0.19 |
| MRVL Marvell Technology Inc. | Add +262.7% | 0.35% | +0.17 |
| UNH Unitedhealth Group Inc. | Add +249.4% | 0.23% | +0.16 |
| KO The Coca-Cola Co. | Add +431.2% | 0.18% | +0.15 |
| RBA RB Global Inc. | Add +24.8% | 0.60% | +0.15 |
| T AT&T Inc. | Add +182.0% | 0.21% | +0.15 |
| BB Blackberry Ltd. | Add +69.1% | 0.38% | +0.15 |
| XOM Exxon Mobil Corp. | Add +181.8% | 0.22% | +0.14 |
| ROK Rockwell Automation Inc. | Add +1980.1% | 0.15% | +0.14 |
| LOW Lowe's Cos Inc. | Add +55.6% | 0.47% | +0.14 |
| MA Mastercard Inc. Class A | Add +461.1% | 0.15% | +0.13 |
| PM Philip Morris International | Add +43.0% | 0.28% | +0.13 |
| AKAM Akamai Technologies Inc. | Add +5385.9% | 0.12% | +0.12 |
| AU Anglogold Ashanti PLC | Add +788.7% | 0.13% | +0.12 |
| XPEV Xpeng Inc. - ADR | Add +2699.6% | 0.12% | +0.12 |
| AXP American Express Co. | New | 0.11% | +0.11 |
| ORLA Orla Mining Ltd. | Add +119.8% | 0.16% | +0.11 |
| PYPL PayPal Holdings Inc. | Add +457.6% | 0.15% | +0.11 |
| ONC Beone Medicines Ltd.-ADR | Add +2.5% | 0.35% | +0.11 |
| EMBJ Embraer SA-Spon ADR | Add +47.4% | 0.24% | +0.11 |
| ETN Eaton Corp. PLC | New | 0.11% | +0.11 |
| TRGP Targa Resources Corp. | Add +59.5% | 0.25% | +0.11 |
| PDD PDD Holdings Inc. | Add +65.7% | 0.22% | +0.11 |
| TRI Thomson Reuters Corp. | Add +1.8% | 1.91% | +0.10 |
| SE Sea Ltd.-ADR | Add +17.1% | 0.37% | +0.10 |
| VALE Vale SA-SP ADR | Add +15.6% | 0.50% | +0.10 |
| LHX L3HARRIS Technologies Inc. | New | 0.10% | +0.10 |
| VRT Vertiv Holdings Co. Class A | Add +436.3% | 0.14% | +0.10 |
| ISRG Intuitive Surgical Inc. | Add +635.4% | 0.12% | +0.10 |
| TJX TJX Companies Inc. | New | 0.10% | +0.10 |
| DIS The Walt Disney Co. | New | 0.09% | +0.09 |
| B Barrick Gold Corp. | Add +35.6% | 0.23% | +0.09 |
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 |