Guardian Capital LP
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 14, 2024), Guardian Capital LP reported 147 stock positions worth $2.9 billion. Its top holding was Bank of Montreal (BMO) at 9.0% of the portfolio, followed by Royal Bank of Canada (RY, 6.5%) and Canadian Natural Resources (CNQ, 5.3%). Compared with Q4 2023, it opened 5 new positions, sold out of 11, added to 71 and reduced 57. The biggest buy was Open Text (OTEX, shares +21%) and the biggest sale Toronto-Dominion Bank (TD, shares −8%).
- Most Recent 13F
- Q2 2026
- Location
- TORONTO, A6
- CIK
- 0001224324
- Portfolio Value
- $2.9B (Q1 2024)
- SEC Filing
- 0001062993-24-010168 ↗ filed May 14, 2024
Holdings Value
Holdings 147 stocks · $2.9B
| BMO Bank of Montreal filed as BANK MONTREAL QUE | 8.97% | 2,632,909 | $257.3M | Reduce -0.1% |
| RY Royal Bank of Canada | 6.48% | 1,841,597 | $185.9M | Reduce -0.8% |
| CNQ Canadian Natural Resources | 5.32% | 1,997,671 | $152.5M | Reduce -2.6% |
| OTEX Open Text Corp. | 4.51% | 3,333,632 | $129.5M | Add +20.6% |
| SU Suncor Energy Inc. | 3.94% | 3,059,627 | $113.0M | Reduce -3.9% |
| BN Brookfield Corp. | 3.40% | 2,329,686 | $97.6M | Reduce -0.6% |
| CP Canadian Pacific Kansas City | 3.08% | 1,002,132 | $88.4M | Reduce -6.3% |
| TU Telus Corp. | 3.06% | 5,486,529 | $87.9M | Add +27.9% |
| QSR Restaurant Brands Intern | 2.85% | 1,029,895 | $81.9M | Add +0.3% |
| GIB Cgi Inc. | 2.84% | 736,882 | $81.4M | Add +0.1% |
| AEM Agnico Eagle Mines Ltd. | 2.81% | 1,352,636 | $80.7M | Reduce -10.4% |
| TD Toronto-Dominion Bank | 2.30% | 1,092,329 | $66.0M | Reduce -7.7% |
| MSFT Microsoft Corp. | 1.97% | 134,085 | $56.4M | Add +0.1% |
| CLS Celestica Inc. | 1.76% | 1,124,305 | $50.6M | Reduce -41.8% |
| FTS Fortis Inc. | 1.67% | 1,214,547 | $48.0M | Reduce -4.3% |
| AVGO Broadcom Inc. | 1.65% | 35,762 | $47.4M | Reduce -6.5% |
| AAPL Apple Inc. | 1.47% | 246,510 | $42.3M | Add +1.0% |
| WPM Wheaton Precious Metals Corp. | 1.46% | 889,669 | $41.9M | Add +13.2% |
| CNI Canadian Natl Railway Co. | 1.37% | 299,037 | $39.4M | Reduce -1.6% |
| CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BK COMM TO | 1.35% | 765,225 | $38.8M | Add +10.2% |
| ENB Enbridge Inc. | 1.32% | 1,043,432 | $37.7M | Add +5.5% |
| COST Costco Wholesale Corp. | 1.30% | 50,758 | $37.2M | Add +0.3% |
| CCJ Cameco Corp. | 1.27% | 843,759 | $36.6M | Reduce -5.6% |
| MFC Manulife Financial Corp. | 1.21% | 1,391,902 | $34.8M | Add +9.0% |
| STN Stantec Inc. | 1.21% | 417,713 | $34.7M | Add +0.3% |
| TRI Thomson Reuters Corp. | 1.19% | 218,538 | $34.0M | Reduce -0.7% |
| ACN Accenture PLC Class A | 1.12% | 93,108 | $32.3M | Add +2.1% |
| MA Mastercard Inc. Class A | 1.11% | 66,186 | $31.9M | Add +1.3% |
| UNH Unitedhealth Group Inc. | 0.97% | 56,015 | $27.7M | Add +0.9% |
| ASML ASML Holding NV-NY Reg SHS | 0.96% | 28,313 | $27.5M | Add +5.9% |
| NVO Novo-Nordisk A/S-Spons ADR | 0.95% | 211,233 | $27.1M | Reduce -0.1% |
| MCD McDonald's Corp. | 0.94% | 95,930 | $27.0M | Add +2.2% |
| WMB Williams Cos Inc. | 0.92% | 680,194 | $26.5M | Reduce -0.0% |
| TECK Teck Resources Ltd.-CLS B | 0.90% | 563,825 | $25.8M | Reduce -3.0% |
| BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA HALIFAX | 0.86% | 479,088 | $24.8M | Reduce -0.7% |
| TTE Totalenergies SE -Spon ADR | 0.83% | 346,636 | $23.9M | Add +0.0% |
| SLF Sun Life Financial Inc. | 0.74% | 388,614 | $21.2M | Reduce -0.9% |
| RSG Republic Services Inc. | 0.74% | 110,616 | $21.2M | Add +0.0% |
| JNJ Johnson & Johnson | 0.73% | 132,929 | $21.0M | Reduce -0.1% |
| SHEL Shell PLC-ADR | 0.73% | 310,865 | $20.8M | Reduce -0.5% |
| HD Home Depot Inc. | 0.68% | 50,482 | $19.4M | Reduce -2.5% |
| WM Waste Management Inc. | 0.64% | 85,905 | $18.3M | Add +0.0% |
| PBA Pembina Pipeline Corp. | 0.63% | 509,626 | $18.0M | Add +4.4% |
| NTR Nutrien Ltd. | 0.58% | 308,234 | $16.8M | Add +13.4% |
| RCI Rogers Communications Inc. Class B | 0.58% | 405,123 | $16.6M | Reduce -1.6% |
| NVEI Nuvei Corp.-Subordinate VTG | 0.56% | 508,810 | $16.1M | Reduce -2.2% |
| B Barrick Gold Corp. | 0.52% | 901,275 | $15.0M | Reduce -17.7% |
| BEPC Brookfield Renewable Cor-A | 0.51% | 590,767 | $14.5M | Reduce -0.4% |
| GOOGL Alphabet Inc. Class A | 0.49% | 92,803 | $14.0M | Add +2.3% |
| ABBV Abbvie Inc. | 0.47% | 74,464 | $13.6M | Add +0.0% |
| TRP TC Energy Corp. | 0.44% | 315,607 | $12.7M | Reduce -40.8% |
| GRP.U Granite Real Estate Investme | 0.43% | 217,383 | $12.4M | Add +13.4% |
| KVUE Kenvue Inc. | 0.41% | 543,073 | $11.7M | Add +21.4% |
| APD Air Products & Chemicals Inc. | 0.41% | 48,040 | $11.6M | Add +0.6% |
| BKNG Booking Holdings Inc. | 0.40% | 3,187 | $11.6M | Add +3.0% |
| HIG Hartford Insurance Group Inc. | 0.39% | 109,886 | $11.3M | Add +0.0% |
| GWW WW Grainger Inc. filed as GRAINGER W W INC | 0.39% | 10,992 | $11.2M | Add +14.8% |
| PG The Procter & Gamble Co. | 0.38% | 67,966 | $11.0M | Reduce -0.6% |
| BEP Brookfield Renewable Partner | 0.36% | 444,075 | $10.3M | Reduce -2.7% |
| CME Cme Group Inc. | 0.36% | 47,919 | $10.3M | Reduce -1.0% |
| BIPC Brookfield Infrastructure-A | 0.35% | 278,240 | $10.0M | Add +2.3% |
| EQIX Equinix Inc. | 0.35% | 12,008 | $9.9M | Add +45.3% |
| SHOP Shopify Inc. Class A | 0.32% | 118,037 | $9.1M | Add +7.4% |
| UL Unilever PLC | 0.26% | 150,421 | $7.5M | Add +0.0% |
| AMGN Amgen Inc. | 0.23% | 23,089 | $6.6M | Reduce -0.6% |
| ITW Illinois Tool Works | 0.23% | 24,295 | $6.5M | Add +5.5% |
| WEC WEC Energy Group Inc. | 0.22% | 78,346 | $6.4M | Reduce -0.4% |
| NKE Nike Inc. Class B | 0.21% | 65,608 | $6.2M | Add +0.3% |
| CL Colgate-Palmolive Co. | 0.21% | 66,820 | $6.0M | Add +0.6% |
| EOG EOG Resources Inc. | 0.20% | 44,876 | $5.7M | Reduce -4.2% |
| SNY Sanofi-ADR | 0.19% | 113,445 | $5.5M | Reduce -10.3% |
| MKTX Marketaxess Holdings Inc. | 0.19% | 25,074 | $5.5M | Add +15.3% |
| BCE Bce Inc. | 0.19% | 156,623 | $5.3M | Reduce -65.2% |
| ADP Automatic Data Processing | 0.17% | 19,951 | $5.0M | Add +0.3% |
| NVDA Nvidia Corp. | 0.17% | 5,447 | $4.9M | Reduce -18.3% |
| WCN Waste Connections Inc. | 0.16% | 26,703 | $4.6M | Reduce -2.5% |
| INTU Intuit Inc. | 0.16% | 6,945 | $4.5M | Reduce -2.1% |
| AMZN Amazon.com Inc. | 0.15% | 24,650 | $4.4M | Add +9.4% |
| VRSK Verisk Analytics Inc. | 0.15% | 18,466 | $4.4M | Add +3.0% |
| WAT Waters Corp. | 0.14% | 11,934 | $4.1M | Add +36.6% |
| IMO Imperial Oil Ltd. | 0.14% | 57,689 | $4.0M | No change |
| AZN Astrazeneca PLC-Spons ADR | 0.12% | 52,274 | $3.5M | Add +10.5% |
| PEP Pepsico Inc. | 0.12% | 20,086 | $3.5M | Add +4.2% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.12% | 27,856 | $3.4M | Reduce -0.4% |
| ILMN Illumina Inc. | 0.11% | 23,063 | $3.2M | Add +25.5% |
| YUMC Yum China Holdings Inc. | 0.11% | 76,525 | $3.0M | New |
| DSGX The Descartes Systems Grp | 0.10% | 32,104 | $2.9M | Reduce -2.9% |
| ROP Roper Technologies Inc. | 0.10% | 5,208 | $2.9M | No change |
| EMR Emerson Electric Co. | 0.10% | 25,563 | $2.9M | Add +6.7% |
| JPM JPMorgan Chase & Co. | 0.10% | 14,004 | $2.8M | Reduce -11.8% |
| TXN Texas Instruments Inc. | 0.10% | 16,055 | $2.8M | Add +10.3% |
| MGA Magna International Inc. | 0.10% | 50,045 | $2.7M | Add +6.4% |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | 0.09% | 33,500 | $2.6M | No change |
| BAM Brookfield Asset Mgmt-A | 0.09% | 60,851 | $2.6M | Reduce -7.7% |
| DUK Duke Energy Corp. | 0.09% | 25,766 | $2.5M | Reduce -3.7% |
| AFL Aflac Inc. | 0.08% | 27,622 | $2.4M | No change |
| AXP American Express Co. | 0.08% | 10,388 | $2.4M | No change |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.08% | 21,921 | $2.2M | Add +17.2% |
| ADSK Autodesk Inc. | 0.08% | 8,534 | $2.2M | Add +0.1% |
| CMCSA Comcast Corp. Class A | 0.07% | 49,365 | $2.1M | No change |
Options reported separately and not counted above: YUMC puts ($218K).
Portfolio Sells Q4 2023 → Q1 2024
| TD Toronto-Dominion Bank | Reduce -7.7% | 2.30% | −0.46 |
| BCE Bce Inc. | Reduce -65.2% | 0.19% | −0.45 |
| BMO Bank of Montreal | Reduce -0.1% | 8.97% | −0.43 |
| CSCO Cisco Systems Inc. | Sold out | 0.00% | −0.42 |
| TRP TC Energy Corp. | Reduce -40.8% | 0.44% | −0.31 |
| RY Royal Bank of Canada | Reduce -0.8% | 6.48% | −0.29 |
| CLS Celestica Inc. | Reduce -41.8% | 1.76% | −0.27 |
| FTS Fortis Inc. | Reduce -4.3% | 1.67% | −0.21 |
| B Barrick Gold Corp. | Reduce -17.7% | 0.52% | −0.19 |
| AEM Agnico Eagle Mines Ltd. | Reduce -10.4% | 2.81% | −0.17 |
| RCI Rogers Communications Inc. Class B | Reduce -1.6% | 0.58% | −0.12 |
| CCJ Cameco Corp. | Reduce -5.6% | 1.27% | −0.11 |
| BEPC Brookfield Renewable Cor-A | Reduce -0.4% | 0.51% | −0.11 |
| BEP Brookfield Renewable Partner | Reduce -2.7% | 0.36% | −0.07 |
| SNY Sanofi-ADR | Reduce -10.3% | 0.19% | −0.03 |
| ATS Ats Corp. | Reduce -18.2% | 0.05% | −0.03 |
| ROK Rockwell Automation Inc. | Sold out | 0.00% | −0.03 |
| ICLN iShares Global Clean Energy | Sold out | 0.00% | −0.02 |
| PYPL PayPal Holdings Inc. | Sold out | 0.00% | −0.02 |
| CIGI Colliers Intl GR-Subord Vot | Reduce -16.6% | 0.07% | −0.02 |
| GIL Gildan Activewear Inc. | Sold out | 0.00% | −0.02 |
| JNJ Johnson & Johnson | Reduce -0.1% | 0.73% | −0.01 |
| WEC WEC Energy Group Inc. | Reduce -0.4% | 0.22% | −0.01 |
| STM Stmicroelectronics NV-NY SHS | Sold out | 0.00% | −0.01 |
| EQNR Equinor ASA-Spon ADR | Sold out | 0.00% | −0.01 |
| AMGN Amgen Inc. | Reduce -0.6% | 0.23% | −0.01 |
| MCHP Microchip Technology Inc. | Sold out | 0.00% | −0.01 |
| SHEL Shell PLC-ADR | Reduce -0.5% | 0.73% | −0.01 |
| CAT Caterpillar Inc. | Sold out | 0.00% | −0.01 |
| LYFT LYFT Inc. Class A | Sold out | 0.00% | −0.01 |
| BAM Brookfield Asset Mgmt-A | Reduce -7.7% | 0.09% | −0.01 |
| DUK Duke Energy Corp. | Reduce -3.7% | 0.09% | −0.01 |
| CME Cme Group Inc. | Reduce -1.0% | 0.36% | −0.01 |
| STE Steris PLC | Reduce -35.3% | 0.01% | −0.01 |
| SCS Steelcase Inc. Class A | Sold out | 0.00% | −0.01 |
| EOG EOG Resources Inc. | Reduce -4.2% | 0.20% | −0.00 |
| CNI Canadian Natl Railway Co. | Reduce -1.6% | 1.37% | −0.00 |
| INTU Intuit Inc. | Reduce -2.1% | 0.16% | −0.00 |
| MEOH Methanex Corp. | Reduce -7.7% | 0.01% | −0.00 |
| LUMN Lumen Technologies Inc. | Reduce -40.7% | 0.00% | −0.00 |
| A Agilent Technologies Inc. | Reduce -3.0% | 0.02% | −0.00 |
| ZBRA Zebra Technologies Corp. Class A | Reduce -7.1% | 0.04% | −0.00 |
| GDDY GoDaddy Inc. Class A | Reduce -7.0% | 0.05% | +0.00 |
| JPM JPMorgan Chase & Co. | Reduce -11.8% | 0.10% | +0.00 |
| CVX Chevron Corp. | Reduce -1.2% | 0.07% | +0.00 |
| DSGX The Descartes Systems Grp | Reduce -2.9% | 0.10% | +0.00 |
| NSSC Napco Security Technologies | Reduce -4.9% | 0.05% | +0.00 |
| SHW The Sherwin-Williams Co. | Reduce -1.3% | 0.06% | +0.00 |
| CRH CRH PLC | Reduce -2.3% | 0.03% | +0.00 |
| FISV Fiserv Inc. | Reduce -0.8% | 0.05% | +0.01 |
Portfolio Buys Q4 2023 → Q1 2024
| OTEX Open Text Corp. | Add +20.6% | 4.51% | +0.33 |
| TU Telus Corp. | Add +27.9% | 3.06% | +0.31 |
| ASML ASML Holding NV-NY Reg SHS | Add +5.9% | 0.96% | +0.23 |
| MFC Manulife Financial Corp. | Add +9.0% | 1.21% | +0.20 |
| MSFT Microsoft Corp. | Add +0.1% | 1.97% | +0.16 |
| CM Can Imperial BK of Commerce | Add +10.2% | 1.35% | +0.15 |
| MA Mastercard Inc. Class A | Add +1.3% | 1.11% | +0.11 |
| EQIX Equinix Inc. | Add +45.3% | 0.35% | +0.11 |
| YUMC Yum China Holdings Inc. | New | 0.11% | +0.11 |
| GWW WW Grainger Inc. | Add +14.8% | 0.39% | +0.11 |
| COST Costco Wholesale Corp. | Add +0.3% | 1.30% | +0.10 |
| WM Waste Management Inc. | Add +0.0% | 0.64% | +0.09 |
| RSG Republic Services Inc. | Add +0.0% | 0.74% | +0.08 |
| HIG Hartford Insurance Group Inc. | Add +0.0% | 0.39% | +0.08 |
| WPM Wheaton Precious Metals Corp. | Add +13.2% | 1.46% | +0.07 |
| KVUE Kenvue Inc. | Add +21.4% | 0.41% | +0.06 |
| ABBV Abbvie Inc. | Add +0.0% | 0.47% | +0.06 |
| WAT Waters Corp. | Add +36.6% | 0.14% | +0.04 |
| GRP.U Granite Real Estate Investme | Add +13.4% | 0.43% | +0.04 |
| GRID First TRST Nasd Class Edg Sgiif | New | 0.03% | +0.03 |
| GOOGL Alphabet Inc. Class A | Add +2.3% | 0.49% | +0.03 |
| ENB Enbridge Inc. | Add +5.5% | 1.32% | +0.03 |
| NTR Nutrien Ltd. | Add +13.4% | 0.58% | +0.03 |
| AMZN Amazon.com Inc. | Add +9.4% | 0.15% | +0.03 |
| ARM Arm Holdings PLC-ADR | Add +184.5% | 0.04% | +0.03 |
| ISRG Intuitive Surgical Inc. | New | 0.02% | +0.02 |
| RTX RTX Corp. | Add +30.5% | 0.07% | +0.02 |
| PBA Pembina Pipeline Corp. | Add +4.4% | 0.63% | +0.02 |
| CL Colgate-Palmolive Co. | Add +0.6% | 0.21% | +0.02 |
| ILMN Illumina Inc. | Add +25.5% | 0.11% | +0.02 |
| IBN Icici Bank Ltd.-Spon ADR | Add +193.0% | 0.03% | +0.02 |
| EMR Emerson Electric Co. | Add +6.7% | 0.10% | +0.02 |
| ADBE Adobe Inc. | Add +55.3% | 0.07% | +0.02 |
| PH Parker Hannifin Corp. | New | 0.01% | +0.01 |
| TJX TJX Companies Inc. | Add +17.2% | 0.08% | +0.01 |
| CPRT Copart Inc. | Add +21.9% | 0.05% | +0.01 |
| BAX Baxter International Inc. | Add +13.7% | 0.07% | +0.01 |
| ESMV iShares ESG Optimized MSCI U | Add +31.3% | 0.05% | +0.01 |
| ITW Illinois Tool Works | Add +5.5% | 0.23% | +0.01 |
| CDNS Cadence Design SYS Inc. | Add +86.3% | 0.02% | +0.01 |
| CTAS Cintas Corp. | Add +14.5% | 0.05% | +0.01 |
| BKNG Booking Holdings Inc. | Add +3.0% | 0.40% | +0.01 |
| SHOP Shopify Inc. Class A | Add +7.4% | 0.32% | +0.01 |
| AZN Astrazeneca PLC-Spons ADR | Add +10.5% | 0.12% | +0.01 |
| TXN Texas Instruments Inc. | Add +10.3% | 0.10% | +0.01 |
| LOW Lowe's Cos Inc. | Add +2.5% | 0.07% | +0.01 |
| GOOG Alphabet Inc. Class C | Add +6.3% | 0.07% | +0.01 |
| ADP Automatic Data Processing | Add +0.3% | 0.17% | +0.01 |
| NOW ServiceNow Inc. | Add +15.0% | 0.04% | +0.01 |
| LLY Eli Lilly & Co. | Add +3.0% | 0.03% | +0.01 |
Options Activity Q4 2023 → Q1 2024
| NVO Novo-Nordisk A/S-Spons ADR | put | Sold out | 35,200 | $1.7Mbefore exit |
| YUMC Yum China Holdings Inc. | put | New | 260 | $218K |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 159 | $4.1B | RY, CNQ, TD, GIB, BN |
| Q1 2026 | 160 | $3.8B | RY, CNQ, AEM, TD, SU |
| Q4 2025 | 160 | $3.4B | RY, AEM, TD, BN, OTEX |
| Q3 2025 | 152 | $3.1B | RY, BMO, AEM, OTEX, BN |
| Q2 2025 | 139 | $2.8B | BMO, RY, OTEX, AEM, BN |
| Q1 2025 | 132 | $2.5B | BMO, RY, AEM, OTEX, BN |
| Q4 2024 | 125 | $2.7B | BMO, RY, OTEX, BN, AEM |
| Q3 2024 | 125 | $2.7B | RY, BMO, OTEX, BN, AEM |
| Q2 2024 | 126 | $2.7B | BMO, RY, OTEX, CNQ, SU |
| Q1 2024 | 147 | $2.9B | BMO, RY, CNQ, OTEX, SU |