Guardian Capital LP

In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 13, 2024), Guardian Capital LP reported 126 stock positions worth $2.7 billion. Its top holding was Bank of Montreal (BMO) at 8.1% of the portfolio, followed by Royal Bank of Canada (RY, 7.3%) and Open Text (OTEX, 4.6%). Compared with Q1 2024, it opened 6 new positions, sold out of 27, added to 43 and reduced 63. The biggest buy was Agnico Eagle Mines (AEM, shares +3%) and the biggest sale an exit from Celestica (CLS).

Most Recent 13F
Q2 2026
Location
TORONTO, A6
CIK
0001224324
Portfolio Value
$2.7B (Q2 2024)
SEC Filing
0001062993-24-014911 ↗ filed Aug 13, 2024

Holdings Value

0$1.0B$2.0B$3.0B$4.0B$5.0B Q1 2024: $2.9B Q1 2024 Q2 2024: $2.7B $2.7B Q2 2024 Q3 2024: $2.7B Q3 2024 Q4 2024: $2.7B Q4 2024 Q1 2025: $2.5B Q1 2025 Q2 2025: $2.8B Q2 2025 Q3 2025: $3.1B Q3 2025 Q4 2025: $3.4B Q4 2025 Q1 2026: $3.8B Q1 2026 Q2 2026: $4.1B Q2 2026

Holdings 126 stocks · $2.7B

BMO Bank of Montreal filed as BANK MONTREAL QUE 8.12% 2,565,324 $215.3M Reduce -2.6%
RY Royal Bank of Canada 7.34% 1,829,309 $194.7M Reduce -0.7%
OTEX Open Text Corp. 4.64% 4,094,402 $122.9M Add +22.8%
CNQ Canadian Natural Resources 4.60% 3,426,936 $122.0M Reduce -14.2%
SU Suncor Energy Inc. 3.93% 2,735,328 $104.2M Reduce -10.6%
BN Brookfield Corp. 3.55% 2,264,087 $94.1M Reduce -2.8%
AEM Agnico Eagle Mines Ltd. 3.45% 1,398,039 $91.4M Add +3.4%
QSR Restaurant Brands Intern 3.36% 1,263,100 $89.0M Add +22.6%
CP Canadian Pacific Kansas City 2.84% 957,032 $75.4M Reduce -4.5%
TU Telus Corp. 2.75% 4,809,244 $72.8M Reduce -12.3%
GIB Cgi Inc. 2.66% 706,330 $70.5M Reduce -4.2%
MSFT Microsoft Corp. 2.31% 136,776 $61.1M Add +2.0%
AAPL Apple Inc. 1.91% 239,821 $50.5M Reduce -2.7%
CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BK COMM TO 1.79% 996,700 $47.4M Add +30.3%
COST Costco Wholesale Corp. 1.67% 51,952 $44.2M Add +2.4%
AVGO Broadcom Inc. 1.60% 26,348 $42.3M Reduce -26.3%
TD Toronto-Dominion Bank 1.55% 747,563 $41.1M Reduce -31.6%
WPM Wheaton Precious Metals Corp. 1.42% 717,288 $37.6M Reduce -19.4%
ENB Enbridge Inc. 1.35% 1,006,284 $35.8M Reduce -3.6%
CNI Canadian Natl Railway Co. 1.34% 300,782 $35.5M Add +0.6%
FTS Fortis Inc. 1.32% 901,978 $35.0M Reduce -25.7%
CCJ Cameco Corp. 1.32% 709,185 $34.9M Reduce -15.9%
MFC Manulife Financial Corp. 1.31% 1,307,281 $34.8M Reduce -6.1%
TRI Thomson Reuters Corp. 1.28% 201,494 $34.0M Reduce -7.8%
ASML ASML Holding NV-NY Reg SHS 1.28% 33,133 $33.9M Add +17.0%
STN Stantec Inc. 1.27% 402,117 $33.7M Reduce -3.7%
NVO Novo-Nordisk A/S-Spons ADR 1.13% 209,858 $30.0M Reduce -0.7%
GOOGL Alphabet Inc. Class A 1.10% 159,453 $29.0M Add +71.8%
WMB Williams Cos Inc. 1.09% 677,114 $28.8M Reduce -0.5%
ACN Accenture PLC Class A 1.08% 94,267 $28.6M Add +1.2%
MA Mastercard Inc. Class A 1.03% 61,874 $27.3M Reduce -6.5%
UNH Unitedhealth Group Inc. 0.97% 50,682 $25.8M Reduce -9.5%
TECK Teck Resources Ltd.-CLS B 0.96% 531,000 $25.4M Reduce -5.8%
MCD McDonald's Corp. 0.91% 94,404 $24.1M Reduce -1.6%
TTE Totalenergies SE -Spon ADR 0.87% 345,014 $23.0M Reduce -0.5%
SHEL Shell PLC-ADR 0.84% 309,522 $22.3M Reduce -0.4%
RSG Republic Services Inc. 0.81% 110,068 $21.4M Reduce -0.5%
BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA HALIFAX 0.80% 461,767 $21.1M Reduce -3.6%
JNJ Johnson & Johnson 0.74% 133,344 $19.5M Add +0.3%
PBA Pembina Pipeline Corp. 0.69% 492,185 $18.3M Reduce -3.4%
SLF Sun Life Financial Inc. 0.69% 372,280 $18.3M Reduce -4.2%
WM Waste Management Inc. 0.69% 85,455 $18.2M Reduce -0.5%
HD Home Depot Inc. 0.65% 49,971 $17.2M Reduce -1.0%
B Barrick Gold Corp. 0.61% 970,377 $16.2M Add +7.7%
NTR Nutrien Ltd. 0.60% 312,042 $15.9M Add +1.2%
BEPC Brookfield Renewable Cor-A 0.56% 520,614 $14.7M Reduce -11.9%
RCI Rogers Communications Inc. Class B 0.55% 393,898 $14.6M Reduce -2.8%
GRP.U Granite Real Estate Investme 0.53% 284,749 $14.1M Add +31.0%
BIPC Brookfield Infrastructure-A 0.48% 379,253 $12.8M Add +36.3%
ABBV Abbvie Inc. 0.48% 74,285 $12.7M Reduce -0.2%
APD Air Products & Chemicals Inc. 0.46% 47,498 $12.3M Reduce -1.1%
TRP TC Energy Corp. 0.43% 302,177 $11.5M Reduce -4.3%
EQIX Equinix Inc. 0.43% 15,100 $11.4M Add +25.8%
PG The Procter & Gamble Co. 0.42% 67,693 $11.2M Reduce -0.4%
HIG Hartford Insurance Group Inc. 0.41% 109,215 $11.0M Reduce -0.6%
BKNG Booking Holdings Inc. 0.41% 2,762 $10.9M Reduce -13.3%
GWW WW Grainger Inc. filed as GRAINGER W W INC 0.40% 11,764 $10.6M Add +7.0%
BEP Brookfield Renewable Partner 0.40% 425,920 $10.5M Reduce -4.1%
KVUE Kenvue Inc. 0.36% 525,100 $9.5M Reduce -3.3%
CME Cme Group Inc. 0.36% 47,919 $9.4M No change
IBN Icici Bank Ltd.-Spon ADR 0.35% 319,148 $9.2M Add +1023.0%
SHOP Shopify Inc. Class A 0.31% 125,619 $8.3M Add +6.4%
UL Unilever PLC 0.31% 149,669 $8.2M Reduce -0.5%
AMGN Amgen Inc. 0.27% 23,119 $7.2M Add +0.1%
CL Colgate-Palmolive Co. 0.24% 66,720 $6.5M Reduce -0.1%
WEC WEC Energy Group Inc. 0.23% 77,875 $6.1M Reduce -0.6%
ITW Illinois Tool Works 0.22% 24,190 $5.7M Reduce -0.4%
EOG EOG Resources Inc. 0.21% 44,656 $5.6M Reduce -0.5%
SNY Sanofi-ADR 0.21% 112,497 $5.5M Reduce -0.8%
VRSK Verisk Analytics Inc. 0.19% 18,966 $5.1M Add +2.7%
NKE Nike Inc. Class B 0.19% 66,808 $5.0M Add +1.8%
MKTX Marketaxess Holdings Inc. 0.19% 25,074 $5.0M No change
NVDA Nvidia Corp. 0.19% 40,168 $5.0M Reduce -26.3%
WCN Waste Connections Inc. 0.18% 27,353 $4.8M Add +2.4%
ADP Automatic Data Processing 0.18% 19,851 $4.7M Reduce -0.5%
AMZN Amazon.com Inc. 0.17% 23,092 $4.5M Reduce -6.3%
AZN Astrazeneca PLC-Spons ADR 0.16% 55,979 $4.4M Add +7.1%
GOOG Alphabet Inc. Class C 0.15% 22,369 $4.1M Add +64.2%
IMO Imperial Oil Ltd. 0.15% 57,689 $3.9M No change
WAT Waters Corp. 0.13% 11,934 $3.5M No change
PEP Pepsico Inc. 0.13% 20,839 $3.4M Add +3.8%
TXN Texas Instruments Inc. 0.12% 16,055 $3.1M No change
ROP Roper Technologies Inc. 0.11% 5,378 $3.0M Add +3.3%
DSGX The Descartes Systems Grp 0.11% 30,348 $2.9M Reduce -5.5%
JPM JPMorgan Chase & Co. 0.11% 14,069 $2.8M Add +0.5%
EMR Emerson Electric Co. 0.11% 25,563 $2.8M No change
ISRG Intuitive Surgical Inc. 0.10% 6,182 $2.8M Add +251.4%
YUMC Yum China Holdings Inc. 0.10% 89,090 $2.7M Add +16.4%
INTU Intuit Inc. 0.10% 4,170 $2.7M Reduce -40.0%
ARM Arm Holdings PLC-ADR 0.10% 16,525 $2.7M Add +103.2%
HYG Ishr Ibx Usd Hiyld CB ETF-Ui 0.10% 33,500 $2.6M No change
DUK Duke Energy Corp. 0.10% 25,766 $2.6M No change
ILMN Illumina Inc. 0.09% 23,063 $2.4M No change
AXP American Express Co. 0.09% 10,388 $2.4M No change
AFL Aflac Inc. 0.09% 26,422 $2.4M Reduce -4.3%
MGA Magna International Inc. 0.09% 55,545 $2.3M Add +11.0%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.08% 21,726 $2.2M Reduce -22.0%
BAM Brookfield Asset Mgmt-A 0.08% 56,401 $2.1M Reduce -7.3%
RTX RTX Corp. 0.08% 20,378 $2.0M Reduce -2.9%
NOW ServiceNow Inc. 0.08% 2,555 $2.0M Add +69.5%
CVX Chevron Corp. 0.07% 12,554 $2.0M No change
SBUX Starbucks Corp. 0.07% 23,244 $1.8M Add +16.0%
CIGI Colliers Intl GR-Subord Vot 0.07% 15,709 $1.8M Reduce -3.3%
SNPS Synopsys Inc. 0.06% 2,877 $1.7M Add +86.5%
META Meta Platforms Inc. Class A 0.06% 3,344 $1.7M New
LLY Eli Lilly & Co. 0.06% 1,850 $1.7M Add +100.9%
GRID First TRST Nasd Class Edg Sgiif 0.06% 13,503 $1.6M Add +58.1%
ESMV iShares ESG Optimized MSCI U 0.05% 51,318 $1.4M Add +1.0%
CDNS Cadence Design SYS Inc. 0.05% 4,371 $1.3M Add +133.2%
DHR Danaher Corp. 0.05% 5,002 $1.2M New
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.04% 8,880 $978K Reduce -59.5%
V Visa Inc. Class A 0.04% 3,724 $977K Add +38.4%
FDS Factset Research Systems Inc. 0.04% 2,363 $965K Add +58.5%
PH Parker Hannifin Corp. 0.04% 1,851 $936K Add +142.9%
SHW The Sherwin-Williams Co. 0.03% 2,621 $782K Reduce -43.6%
A Agilent Technologies Inc. 0.03% 5,818 $754K Add +69.2%
ADBE Adobe Inc. 0.03% 1,322 $734K Reduce -67.4%
CRH CRH PLC 0.03% 9,511 $713K No change
AQN Algonquin Power & Utilities 0.02% 83,701 $492K No change
BCE Bce Inc. 0.01% 10,439 $338K Reduce -93.3%
MSI Motorola Solutions Inc. 0.01% 696 $269K New
TM Toyota Motor Corp. -Spon ADR 0.01% 1,257 $258K No change
MPWR Monolithic Power Systems Inc. 0.01% 373 $224K New
MEOH Methanex Corp. 0.01% 4,187 $202K Reduce -19.5%
HCSG Healthcare Services Group 0.00% 11,956 $126K New
HL Hecla Mining Co. 0.00% 22,062 $107K New

Options reported separately and not counted above: YUMC puts ($352K), NKE puts ($242K), ACN puts ($225K).

Portfolio Sells Q1 2024 → Q2 2024

CLS Celestica Inc. Sold out 0.00% −1.76
BMO Bank of Montreal Reduce -2.6% 8.12% −0.85
TD Toronto-Dominion Bank Reduce -31.6% 1.55% −0.75
CNQ Canadian Natural Resources Reduce -14.2% 4.60% −0.71
NVEI Nuvei Corp.-Subordinate VTG Sold out 0.00% −0.56
FTS Fortis Inc. Reduce -25.7% 1.32% −0.35
TU Telus Corp. Reduce -12.3% 2.75% −0.32
CP Canadian Pacific Kansas City Reduce -4.5% 2.84% −0.24
GIB Cgi Inc. Reduce -4.2% 2.66% −0.18
BCE Bce Inc. Reduce -93.3% 0.01% −0.17
MA Mastercard Inc. Class A Reduce -6.5% 1.03% −0.08
ADSK Autodesk Inc. Sold out 0.00% −0.08
CMCSA Comcast Corp. Class A Sold out 0.00% −0.07
BAX Baxter International Inc. Sold out 0.00% −0.07
BNS Bank of Nova Scotia Reduce -3.6% 0.80% −0.07
LOW Lowe's Cos Inc. Sold out 0.00% −0.07
APH Amphenol Corp. Class A Sold out 0.00% −0.07
TMO Thermo Fisher Scientific Inc. Sold out 0.00% −0.06
AVGO Broadcom Inc. Reduce -26.3% 1.60% −0.06
GDDY GoDaddy Inc. Class A Sold out 0.00% −0.05
INTU Intuit Inc. Reduce -40.0% 0.10% −0.05
SPGI S&P Global Inc. Sold out 0.00% −0.05
SLF Sun Life Financial Inc. Reduce -4.2% 0.69% −0.05
ATS Ats Corp. Sold out 0.00% −0.05
CPAY Corpay Inc. Sold out 0.00% −0.05
FISV Fiserv Inc. Sold out 0.00% −0.05
CTAS Cintas Corp. Sold out 0.00% −0.05
CPRT Copart Inc. Sold out 0.00% −0.05
NSSC Napco Security Technologies Sold out 0.00% −0.05
KVUE Kenvue Inc. Reduce -3.3% 0.36% −0.05
WPM Wheaton Precious Metals Corp. Reduce -19.4% 1.42% −0.04
ADBE Adobe Inc. Reduce -67.4% 0.03% −0.04
ZBRA Zebra Technologies Corp. Class A Sold out 0.00% −0.04
TJX TJX Companies Inc. Reduce -59.5% 0.04% −0.04
MKL Markel Group Inc. Sold out 0.00% −0.04
DIS The Walt Disney Co. Reduce -22.0% 0.08% −0.04
MCD McDonald's Corp. Reduce -1.6% 0.91% −0.04
DG Dollar General Corp. Sold out 0.00% −0.03
TTWO Take-Two Interactive Softwre Sold out 0.00% −0.03
AZO AutoZone Inc. Sold out 0.00% −0.03
POOL Pool Corp. Sold out 0.00% −0.03
RCI Rogers Communications Inc. Class B Reduce -2.8% 0.55% −0.03
SHW The Sherwin-Williams Co. Reduce -43.6% 0.03% −0.03
HD Home Depot Inc. Reduce -1.0% 0.65% −0.03
IDXX Idexx Laboratories Inc. Sold out 0.00% −0.02
MDB Mongodb Inc. Sold out 0.00% −0.02
ITW Illinois Tool Works Reduce -0.4% 0.22% −0.01
TRP TC Energy Corp. Reduce -4.3% 0.43% −0.01
STE Steris PLC Sold out 0.00% −0.01
BAM Brookfield Asset Mgmt-A Reduce -7.3% 0.08% −0.01

Portfolio Buys Q1 2024 → Q2 2024

AEM Agnico Eagle Mines Ltd. Add +3.4% 3.45% +0.63
GOOGL Alphabet Inc. Class A Add +71.8% 1.10% +0.61
QSR Restaurant Brands Intern Add +22.6% 3.36% +0.50
CM Can Imperial BK of Commerce Add +30.3% 1.79% +0.43
COST Costco Wholesale Corp. Add +2.4% 1.67% +0.37
MSFT Microsoft Corp. Add +2.0% 2.31% +0.34
IBN Icici Bank Ltd.-Spon ADR Add +1023.0% 0.35% +0.32
ASML ASML Holding NV-NY Reg SHS Add +17.0% 1.28% +0.32
BIPC Brookfield Infrastructure-A Add +36.3% 0.48% +0.13
OTEX Open Text Corp. Add +22.8% 4.64% +0.12
GRP.U Granite Real Estate Investme Add +31.0% 0.53% +0.10
B Barrick Gold Corp. Add +7.7% 0.61% +0.09
EQIX Equinix Inc. Add +25.8% 0.43% +0.09
GOOG Alphabet Inc. Class C Add +64.2% 0.15% +0.08
ISRG Intuitive Surgical Inc. Add +251.4% 0.10% +0.08
ARM Arm Holdings PLC-ADR Add +103.2% 0.10% +0.07
META Meta Platforms Inc. Class A New 0.06% +0.06
DHR Danaher Corp. New 0.05% +0.05
AMGN Amgen Inc. Add +0.1% 0.27% +0.04
AZN Astrazeneca PLC-Spons ADR Add +7.1% 0.16% +0.04
VRSK Verisk Analytics Inc. Add +2.7% 0.19% +0.04
LLY Eli Lilly & Co. Add +100.9% 0.06% +0.04
NOW ServiceNow Inc. Add +69.5% 0.08% +0.04
SNPS Synopsys Inc. Add +86.5% 0.06% +0.03
CDNS Cadence Design SYS Inc. Add +133.2% 0.05% +0.03
GRID First TRST Nasd Class Edg Sgiif Add +58.1% 0.06% +0.02
WCN Waste Connections Inc. Add +2.4% 0.18% +0.02
PH Parker Hannifin Corp. Add +142.9% 0.04% +0.02
NTR Nutrien Ltd. Add +1.2% 0.60% +0.01
FDS Factset Research Systems Inc. Add +58.5% 0.04% +0.01
ROP Roper Technologies Inc. Add +3.3% 0.11% +0.01
A Agilent Technologies Inc. Add +69.2% 0.03% +0.01
V Visa Inc. Class A Add +38.4% 0.04% +0.01
GWW WW Grainger Inc. Add +7.0% 0.40% +0.01
MSI Motorola Solutions Inc. New 0.01% +0.01
JPM JPMorgan Chase & Co. Add +0.5% 0.11% +0.01
MPWR Monolithic Power Systems Inc. New 0.01% +0.01
PEP Pepsico Inc. Add +3.8% 0.13% +0.01
HCSG Healthcare Services Group New 0.00% +0.00
SBUX Starbucks Corp. Add +16.0% 0.07% +0.00
HL Hecla Mining Co. New 0.00% +0.00
ESMV iShares ESG Optimized MSCI U Add +1.0% 0.05% +0.00
JNJ Johnson & Johnson Add +0.3% 0.74% +0.00
YUMC Yum China Holdings Inc. Add +16.4% 0.10% −0.00
SHOP Shopify Inc. Class A Add +6.4% 0.31% −0.00
MGA Magna International Inc. Add +11.0% 0.09% −0.01
NKE Nike Inc. Class B Add +1.8% 0.19% −0.03
CNI Canadian Natl Railway Co. Add +0.6% 1.34% −0.03
ACN Accenture PLC Class A Add +1.2% 1.08% −0.05

Options Activity Q1 2024 → Q2 2024

YUMC Yum China Holdings Inc. put Reduce -10.8% 232 $352K
NKE Nike Inc. Class B put New 116 $242K
ACN Accenture PLC Class A put New 52 $225K

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 159$4.1BRY, CNQ, TD, GIB, BN
Q1 2026 160$3.8BRY, CNQ, AEM, TD, SU
Q4 2025 160$3.4BRY, AEM, TD, BN, OTEX
Q3 2025 152$3.1BRY, BMO, AEM, OTEX, BN
Q2 2025 139$2.8BBMO, RY, OTEX, AEM, BN
Q1 2025 132$2.5BBMO, RY, AEM, OTEX, BN
Q4 2024 125$2.7BBMO, RY, OTEX, BN, AEM
Q3 2024 125$2.7BRY, BMO, OTEX, BN, AEM
Q2 2024 126$2.7BBMO, RY, OTEX, CNQ, SU
Q1 2024 147$2.9BBMO, RY, CNQ, OTEX, SU