Connor, Clark & Lunn Investment Management Ltd.
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 7, 2025), Connor, Clark & Lunn Investment Management Ltd. reported 1,486 stock positions worth $28.4 billion. Its top holding was Royal Bank of Canada (RY) at 5.0% of the portfolio, followed by Agnico Eagle Mines (AEM, 2.7%) and Shopify Class A (SHOP, 2.6%). Compared with Q1 2025, it opened 333 new positions, sold out of 230, added to 688 and reduced 450. The biggest buy was Invesco MSCI USA ETF (PBUS, shares +99%) and the biggest sale Enbridge (ENB, shares −23%).
- Most Recent 13F
- Q2 2026
- Location
- VANCOUVER, A1
- CIK
- 0001596800
- Portfolio Value
- $28.4B (Q2 2025)
- SEC Filing
- 0001596800-25-000010 ↗ filed Aug 7, 2025
Holdings Value
Holdings 1,486 stocks · $28.4B
| RY Royal Bank of Canada | 5.02% | 10,809,405 | $1.4B | Reduce -5.4% |
| AEM Agnico Eagle Mines Ltd. | 2.67% | 6,347,823 | $756.8M | Reduce -5.5% |
| SHOP Shopify Inc. Class A | 2.59% | 6,375,619 | $735.3M | Reduce -3.4% |
| TD Toronto-Dominion Bank | 2.54% | 9,796,385 | $721.0M | Add +1.3% |
| CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BK COMM | 2.34% | 9,369,030 | $665.5M | Reduce -0.4% |
| NVDA Nvidia Corp. | 1.98% | 3,555,000 | $561.7M | Add +39.4% |
| PBUS Invesco MSCI USA ETF | 1.97% | 9,010,335 | $560.3M | Add +99.2% |
| CNI Canadian Natl Railway Co. | 1.55% | 4,220,150 | $440.0M | Add +31.9% |
| TRP TC Energy Corp. | 1.52% | 8,859,156 | $432.3M | Reduce -5.9% |
| TRI Thomson Reuters Corp. | 1.52% | 2,143,684 | $431.4M | Reduce -15.5% |
| MSFT Microsoft Corp. | 1.50% | 855,387 | $425.5M | Add +21.4% |
| ENB Enbridge Inc. | 1.40% | 8,763,356 | $397.6M | Reduce -23.4% |
| MFC Manulife Financial Corp. | 1.35% | 12,015,008 | $384.4M | Add +5.0% |
| WCN Waste Connections Inc. | 1.34% | 2,029,689 | $379.4M | Reduce -15.9% |
| SU Suncor Energy Inc. | 1.24% | 9,404,509 | $352.7M | Reduce -4.8% |
| CP Canadian Pacific Kansas City | 1.21% | 4,318,587 | $342.4M | Add +18.9% |
| BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA HALIFAX | 1.15% | 5,918,275 | $327.5M | Reduce -6.4% |
| SLF Sun Life Financial Inc. | 1.12% | 4,766,443 | $317.4M | Reduce -3.9% |
| BN Brookfield Corp. | 1.05% | 4,815,629 | $298.2M | Reduce -11.4% |
| AAPL Apple Inc. | 1.03% | 1,423,336 | $292.0M | Add +30.4% |
| CNQ Canadian Natural Resources | 0.96% | 8,630,399 | $271.4M | Reduce -19.6% |
| CLS Celestica Inc. | 0.95% | 1,733,686 | $271.0M | Add +17.6% |
| FNV Franco-Nevada Corp. | 0.87% | 1,510,720 | $248.2M | Reduce -11.4% |
| CCJ Cameco Corp. | 0.85% | 3,230,360 | $240.3M | Add +26.3% |
| WPM Wheaton Precious Metals Corp. | 0.82% | 2,596,494 | $233.6M | Add +5.3% |
| BMO Bank of Montreal filed as BANK MONTREAL QUE | 0.77% | 1,974,163 | $218.9M | Add +2.2% |
| STN Stantec Inc. | 0.73% | 1,891,343 | $205.9M | Reduce -9.1% |
| GOOG Alphabet Inc. Class C | 0.72% | 1,154,607 | $204.8M | Add +54.7% |
| META Meta Platforms Inc. Class A | 0.72% | 276,403 | $204.0M | Add +73.7% |
| FTS Fortis Inc. | 0.70% | 4,159,753 | $198.7M | Reduce -15.5% |
| KGC Kinross Gold Corp. | 0.66% | 12,064,748 | $188.5M | Reduce -7.3% |
| AMZN Amazon.com Inc. | 0.63% | 821,471 | $180.2M | Reduce -10.8% |
| IMO Imperial Oil Ltd. | 0.58% | 2,053,989 | $163.4M | Add +18.4% |
| DSGX The Descartes Systems Grp | 0.55% | 1,528,628 | $155.4M | Reduce -10.0% |
| PBA Pembina Pipeline Corp. | 0.53% | 4,038,281 | $151.7M | Reduce -11.9% |
| NFLX Netflix Inc. | 0.52% | 109,841 | $147.1M | Add +99.1% |
| LOW Lowe's Cos Inc. | 0.47% | 597,861 | $132.6M | Add +29.9% |
| JPM JPMorgan Chase & Co. | 0.44% | 433,089 | $125.6M | Add +16.6% |
| BAM Brookfield Asset Mgmt-A | 0.44% | 2,262,302 | $125.3M | Add +3.4% |
| RBA RB Global Inc. | 0.44% | 1,168,839 | $124.3M | Reduce -14.9% |
| DASH DoorDash Inc. Class A | 0.44% | 502,461 | $123.9M | Add +55.4% |
| PAAS Pan American Silver Corp. | 0.44% | 4,353,569 | $123.6M | Reduce -2.2% |
| SLB SLB Ltd. filed as SCHLUMBERGER LTD | 0.40% | 3,399,109 | $114.9M | Add +77.2% |
| MRVL Marvell Technology Inc. | 0.40% | 1,473,484 | $114.0M | Add +12.0% |
| GIB Cgi Inc. | 0.39% | 1,066,308 | $112.1M | Reduce -13.8% |
| INFY Infosys Ltd.-SP ADR | 0.39% | 5,934,039 | $110.0M | Reduce -15.3% |
| V Visa Inc. Class A | 0.38% | 303,265 | $107.7M | Add +193.0% |
| CAT Caterpillar Inc. | 0.37% | 271,915 | $105.6M | Add +6.0% |
| HDB HDFC Bank Ltd.-ADR | 0.37% | 1,365,039 | $104.7M | Add +3.5% |
| INTC Intel Corp. | 0.37% | 4,669,854 | $104.6M | Add +54.2% |
| AGI Alamos Gold Inc. Class A | 0.37% | 3,911,470 | $104.1M | Reduce -33.3% |
| AVGO Broadcom Inc. | 0.36% | 373,175 | $102.9M | Reduce -20.2% |
| SE Sea Ltd.-ADR | 0.36% | 638,453 | $102.1M | Reduce -1.4% |
| BB Blackberry Ltd. | 0.35% | 21,815,684 | $100.4M | Reduce -5.6% |
| VALE Vale SA-SP ADR | 0.35% | 10,163,946 | $98.7M | Reduce -11.8% |
| RBLX Roblox Corp. Class A | 0.34% | 919,078 | $96.7M | Add +13.4% |
| AXON Axon Enterprise Inc. | 0.33% | 112,346 | $93.0M | Add +10.0% |
| VRTX Vertex Pharmaceuticals Inc. | 0.32% | 206,095 | $91.8M | Add +1251.2% |
| IBN Icici Bank Ltd.-Spon ADR | 0.32% | 2,709,522 | $91.1M | Add +11.2% |
| NTAP Netapp Inc. | 0.31% | 832,255 | $88.7M | Add +88.0% |
| MS Morgan Stanley | 0.31% | 618,110 | $87.1M | Add +113.0% |
| MA Mastercard Inc. Class A | 0.30% | 153,864 | $86.5M | Add +137.4% |
| TSM Taiwan Semiconductor-SP ADR | 0.30% | 373,479 | $84.6M | Reduce -29.4% |
| QSR Restaurant Brands Intern | 0.29% | 1,224,721 | $81.3M | Reduce -8.5% |
| BKNG Booking Holdings Inc. | 0.29% | 14,016 | $81.1M | Reduce -3.4% |
| ANET Arista Networks Inc. | 0.28% | 787,254 | $80.5M | Add +4.7% |
| PM Philip Morris International | 0.28% | 438,074 | $79.8M | Add +7.5% |
| AMD Advanced Micro Devices | 0.28% | 553,247 | $78.5M | Reduce -22.0% |
| TSLA Tesla Inc. | 0.28% | 246,259 | $78.2M | Add +47.4% |
| GIL Gildan Activewear Inc. | 0.27% | 1,579,620 | $77.9M | Add +40.4% |
| TECK Teck Resources Ltd.-CLS B | 0.27% | 1,879,437 | $76.1M | Add +168.9% |
| ABNB Airbnb Inc. Class A | 0.27% | 572,851 | $75.8M | Reduce -13.4% |
| ATS Ats Corp. | 0.27% | 2,369,028 | $75.6M | Add +19.9% |
| ROKU Roku Inc. | 0.26% | 848,736 | $74.6M | Add +29.4% |
| GRAB Grab Holdings Ltd. Class A | 0.26% | 14,809,727 | $74.5M | Add +31.3% |
| ONC Beone Medicines Ltd.-ADR | 0.26% | 302,999 | $73.3M | Add +3.9% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.26% | 150,742 | $73.2M | Add +309.0% |
| U Unity Software Inc. | 0.26% | 3,017,147 | $73.0M | Add +8.8% |
| IQV Iqvia Holdings Inc. | 0.25% | 455,206 | $71.7M | Add +36.1% |
| GOOGL Alphabet Inc. Class A | 0.25% | 401,864 | $70.8M | Add +21.0% |
| P Everpure Inc. Class A filed as PURE STORAGE INC | 0.25% | 1,213,432 | $69.9M | Add +39.0% |
| VRT Vertiv Holdings Co. Class A | 0.25% | 543,023 | $69.7M | Add +19.7% |
| NTR Nutrien Ltd. | 0.24% | 1,177,526 | $68.7M | Reduce -0.4% |
| EMBJ Embraer SA-Spon ADR | 0.24% | 1,185,459 | $67.5M | Reduce -2.5% |
| VZ Verizon Communications Inc. | 0.24% | 1,550,942 | $67.1M | Add +50.8% |
| GRTUF Granite Real Estate Investme | 0.23% | 1,257,547 | $63.9M | Reduce -2.7% |
| CVNA Carvana Co. | 0.22% | 189,551 | $63.9M | Add +3691.8% |
| AXP American Express Co. | 0.22% | 199,952 | $63.8M | Add +106.4% |
| KB KB Financial Group Inc.-ADR filed as KB FINL GROUP INC | 0.21% | 734,981 | $60.7M | Reduce -13.0% |
| AER Aercap Holdings NV | 0.21% | 501,620 | $58.7M | Reduce -1.7% |
| CHT Chunghwa Telecom LT-Spon ADR | 0.21% | 1,253,331 | $58.4M | Add +12.2% |
| NTNX Nutanix Inc. Class A | 0.21% | 761,712 | $58.2M | Add +16.8% |
| TGT Target Corp. | 0.20% | 589,376 | $58.1M | Add +308.8% |
| CPRT Copart Inc. | 0.20% | 1,135,668 | $55.7M | Add +2468.2% |
| BLK BlackRock Inc. | 0.20% | 52,830 | $55.4M | Add +60.2% |
| MT Arcelormittal-NY Registered | 0.20% | 1,754,971 | $55.4M | Reduce -6.3% |
| COIN Coinbase Global Inc. Class A | 0.19% | 157,040 | $55.0M | Add +0.2% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.19% | 431,879 | $53.6M | Add +101.3% |
| FUTU Futu Holdings Ltd.-ADR filed as FUTU HLDGS LTD | 0.19% | 430,233 | $53.2M | Add +78.7% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.19% | 1,111,743 | $52.6M | Add +226.5% |
Portfolio Sells Q1 2025 → Q2 2025
| ENB Enbridge Inc. | Reduce -23.4% | 1.40% | −0.81 |
| WCN Waste Connections Inc. | Reduce -15.9% | 1.34% | −0.72 |
| RY Royal Bank of Canada | Reduce -5.4% | 5.02% | −0.60 |
| AEM Agnico Eagle Mines Ltd. | Reduce -5.5% | 2.67% | −0.51 |
| CNQ Canadian Natural Resources | Reduce -19.6% | 0.96% | −0.49 |
| SU Suncor Energy Inc. | Reduce -4.8% | 1.24% | −0.43 |
| TRP TC Energy Corp. | Reduce -5.9% | 1.52% | −0.42 |
| TRI Thomson Reuters Corp. | Reduce -15.5% | 1.52% | −0.39 |
| AGI Alamos Gold Inc. Class A | Reduce -33.3% | 0.37% | −0.32 |
| FSV Firstservice Corp. | Reduce -73.7% | 0.09% | −0.30 |
| FNV Franco-Nevada Corp. | Reduce -11.4% | 0.87% | −0.30 |
| CORT Corcept Therapeutics Inc. | Reduce -57.7% | 0.08% | −0.29 |
| FTS Fortis Inc. | Reduce -15.5% | 0.70% | −0.28 |
| RCI Rogers Communications Inc. Class B | Reduce -97.9% | 0.01% | −0.27 |
| PBA Pembina Pipeline Corp. | Reduce -11.9% | 0.53% | −0.27 |
| DSGX The Descartes Systems Grp | Reduce -10.0% | 0.55% | −0.20 |
| BN Brookfield Corp. | Reduce -11.4% | 1.05% | −0.19 |
| INFY Infosys Ltd.-SP ADR | Reduce -15.3% | 0.39% | −0.17 |
| RBA RB Global Inc. | Reduce -14.9% | 0.44% | −0.16 |
| UNH Unitedhealth Group Inc. | Reduce -34.7% | 0.07% | −0.16 |
| BNS Bank of Nova Scotia | Reduce -6.4% | 1.15% | −0.15 |
| VALE Vale SA-SP ADR | Reduce -11.8% | 0.35% | −0.15 |
| TRGP Targa Resources Corp. | Reduce -43.3% | 0.10% | −0.15 |
| SHOP Shopify Inc. Class A | Reduce -3.4% | 2.59% | −0.15 |
| B Barrick Mining Corp. | Reduce -57.4% | 0.09% | −0.15 |
| GIB Cgi Inc. | Reduce -13.8% | 0.39% | −0.14 |
| QRVO Qorvo Inc. | Reduce -87.8% | 0.02% | −0.13 |
| AMZN Amazon.com Inc. | Reduce -10.8% | 0.63% | −0.13 |
| KO The Coca-Cola Co. | Reduce -59.5% | 0.06% | −0.12 |
| WMT Walmart Inc. | Reduce -43.4% | 0.13% | −0.12 |
| SLF Sun Life Financial Inc. | Reduce -3.9% | 1.12% | −0.12 |
| PDD PDD Holdings Inc. | Reduce -37.9% | 0.10% | −0.12 |
| ISRG Intuitive Surgical Inc. | Reduce -98.7% | 0.00% | −0.11 |
| ZLAB Zai Lab Ltd.-ADR | Reduce -61.6% | 0.05% | −0.11 |
| GFL GFL Environmental Inc.-Sub VT | Reduce -36.6% | 0.13% | −0.11 |
| ETN Eaton Corp. PLC | Sold out | 0.00% | −0.11 |
| ABT Abbott Laboratories | Reduce -28.0% | 0.16% | −0.11 |
| INTU Intuit Inc. | Reduce -57.5% | 0.08% | −0.11 |
| QSR Restaurant Brands Intern | Reduce -8.5% | 0.29% | −0.10 |
| GILD Gilead Sciences Inc. | Reduce -97.1% | 0.00% | −0.10 |
| CSCO Cisco Systems Inc. | Reduce -71.3% | 0.04% | −0.10 |
| LHX L3HARRIS Technologies Inc. | Reduce -96.1% | 0.00% | −0.10 |
| TCOM Trip.com Group Ltd.-ADR | Reduce -82.4% | 0.01% | −0.10 |
| GD General Dynamics Corp. | Sold out | 0.00% | −0.09 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -29.4% | 0.30% | −0.09 |
| ALB Albemarle Corp. | Reduce -96.9% | 0.00% | −0.08 |
| PHG Koninklijke Philips NVR- NY | Reduce -24.6% | 0.11% | −0.08 |
| BMRN Biomarin Pharmaceutical Inc. | Reduce -22.6% | 0.08% | −0.08 |
| WIX Wix.com Ltd. | Reduce -12.6% | 0.18% | −0.08 |
| OKTA Okta Inc. | Reduce -14.1% | 0.16% | −0.08 |
Portfolio Buys Q1 2025 → Q2 2025
| PBUS Invesco MSCI USA ETF | Add +99.2% | 1.97% | +0.87 |
| NVDA Nvidia Corp. | Add +39.4% | 1.98% | +0.77 |
| CLS Celestica Inc. | Add +17.6% | 0.95% | +0.45 |
| CCJ Cameco Corp. | Add +26.3% | 0.85% | +0.39 |
| MSFT Microsoft Corp. | Add +21.4% | 1.50% | +0.34 |
| META Meta Platforms Inc. Class A | Add +73.7% | 0.72% | +0.32 |
| NFLX Netflix Inc. | Add +99.1% | 0.52% | +0.29 |
| VRTX Vertex Pharmaceuticals Inc. | Add +1251.2% | 0.32% | +0.29 |
| V Visa Inc. Class A | Add +193.0% | 0.38% | +0.22 |
| CVNA Carvana Co. | Add +3691.8% | 0.22% | +0.22 |
| GOOG Alphabet Inc. Class C | Add +54.7% | 0.72% | +0.21 |
| CNI Canadian Natl Railway Co. | Add +31.9% | 1.55% | +0.19 |
| CPRT Copart Inc. | Add +2468.2% | 0.20% | +0.19 |
| DASH DoorDash Inc. Class A | Add +55.4% | 0.44% | +0.18 |
| EEMS iShares MSCI Emerging MKT SM | New | 0.18% | +0.18 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +309.0% | 0.26% | +0.17 |
| STZ Constellation Brands Inc. Class A | Add +5058.0% | 0.16% | +0.16 |
| MS Morgan Stanley | Add +113.0% | 0.31% | +0.16 |
| TECK Teck Resources Ltd.-CLS B | Add +168.9% | 0.27% | +0.16 |
| ESTC Elastic NV | Add +972.9% | 0.18% | +0.15 |
| EMA Emera Inc. | New | 0.15% | +0.15 |
| MA Mastercard Inc. Class A | Add +137.4% | 0.30% | +0.15 |
| KR Kroger Co. | Add +5635.8% | 0.15% | +0.15 |
| MGA Magna International Inc. | Add +1121.6% | 0.16% | +0.14 |
| NTAP Netapp Inc. | Add +88.0% | 0.31% | +0.14 |
| TGT Target Corp. | Add +308.8% | 0.20% | +0.14 |
| TFII Tfi International Inc. | New | 0.14% | +0.14 |
| RBLX Roblox Corp. Class A | Add +13.4% | 0.34% | +0.13 |
| MDB Mongodb Inc. | Add +2721.8% | 0.14% | +0.13 |
| ORCL Oracle Corp. | Add +207.4% | 0.17% | +0.12 |
| BAC Bank of America Corp. | Add +226.5% | 0.19% | +0.12 |
| CRM Salesforce Inc. | New | 0.12% | +0.12 |
| AXP American Express Co. | Add +106.4% | 0.22% | +0.11 |
| PLTR Palantir Technologies Inc. Class A | Add +87.9% | 0.18% | +0.11 |
| ZTS Zoetis Inc. | New | 0.10% | +0.10 |
| VRT Vertiv Holdings Co. Class A | Add +19.7% | 0.25% | +0.10 |
| NOW ServiceNow Inc. | Add +239.2% | 0.14% | +0.10 |
| CEG Constellation Energy | Add +106.6% | 0.16% | +0.10 |
| TEAM Atlassian Corp. Class A | Add +3105.6% | 0.10% | +0.10 |
| DIS The Walt Disney Co. | Add +101.3% | 0.19% | +0.10 |
| MET Metlife Inc. | Add +225.9% | 0.15% | +0.09 |
| CP Canadian Pacific Kansas City | Add +18.9% | 1.21% | +0.09 |
| AXON Axon Enterprise Inc. | Add +10.0% | 0.33% | +0.09 |
| DOW Dow Inc. | New | 0.09% | +0.09 |
| ASML ASML Holding NV-NY Reg SHS | Add +960.2% | 0.10% | +0.09 |
| SII Sprott Inc. | Add +5047.2% | 0.09% | +0.09 |
| TSLA Tesla Inc. | Add +47.4% | 0.28% | +0.09 |
| CRL Charles River Laboratories | Add +670.0% | 0.10% | +0.09 |
| GIS General Mills Inc. | Add +2526.8% | 0.09% | +0.09 |
| NBIX Neurocrine Biosciences Inc. | Add +345.1% | 0.11% | +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 |