Guardian Capital LP
In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 12, 2024), Guardian Capital LP reported 125 stock positions worth $2.7 billion. Its top holding was Royal Bank of Canada (RY) at 7.6% of the portfolio, followed by Bank of Montreal (BMO, 7.1%) and Open Text (OTEX, 4.8%). Compared with Q2 2024, it opened 3 new positions, sold out of 4, added to 39 and reduced 73. The biggest buy was Can Imperial BK of Commerce (CM, shares +17%) and the biggest sale Canadian Natural Resources (CNQ, shares −15%).
- Most Recent 13F
- Q2 2026
- Location
- TORONTO, A6
- CIK
- 0001224324
- Portfolio Value
- $2.7B (Q3 2024)
- SEC Filing
- 0001062993-24-018774 ↗ filed Nov 12, 2024
Holdings Value
Holdings 125 stocks · $2.7B
| RY Royal Bank of Canada | 7.56% | 1,649,821 | $206.1M | Reduce -9.8% |
| BMO Bank of Montreal filed as BANK MONTREAL QUE | 7.15% | 2,158,013 | $194.9M | Reduce -15.9% |
| OTEX Open Text Corp. | 4.76% | 3,900,096 | $130.0M | Reduce -4.8% |
| BN Brookfield Corp. | 3.81% | 1,956,035 | $104.0M | Reduce -13.6% |
| AEM Agnico Eagle Mines Ltd. | 3.72% | 1,260,103 | $101.6M | Reduce -9.9% |
| CNQ Canadian Natural Resources | 3.55% | 2,911,590 | $96.8M | Reduce -15.0% |
| QSR Restaurant Brands Intern | 3.37% | 1,273,721 | $92.0M | Add +0.8% |
| SU Suncor Energy Inc. | 3.08% | 2,273,105 | $84.0M | Reduce -16.9% |
| TU Telus Corp. | 2.98% | 4,847,365 | $81.4M | Add +0.8% |
| GIB Cgi Inc. | 2.85% | 675,971 | $77.9M | Reduce -4.3% |
| CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BK COMM | 2.62% | 1,164,868 | $71.5M | Add +16.9% |
| CP Canadian Pacific Kansas City | 2.50% | 797,126 | $68.3M | Reduce -16.7% |
| MSFT Microsoft Corp. | 2.15% | 136,506 | $58.7M | Reduce -0.2% |
| AAPL Apple Inc. | 2.04% | 238,750 | $55.6M | Reduce -0.5% |
| TD Toronto-Dominion Bank | 1.93% | 830,531 | $52.6M | Add +11.1% |
| COST Costco Wholesale Corp. | 1.71% | 52,604 | $46.6M | Add +1.3% |
| AVGO Broadcom Inc. | 1.66% | 262,143 | $45.2M | Reduce -0.5% |
| ENB Enbridge Inc. | 1.46% | 979,029 | $39.8M | Reduce -2.7% |
| WPM Wheaton Precious Metals Corp. | 1.42% | 632,977 | $38.7M | Reduce -11.8% |
| MFC Manulife Financial Corp. | 1.33% | 1,230,879 | $36.4M | Reduce -5.8% |
| CNI Canadian Natl Railway Co. | 1.33% | 309,366 | $36.3M | Add +2.9% |
| FTS Fortis Inc. | 1.27% | 760,185 | $34.6M | Reduce -15.7% |
| ACN Accenture PLC Class A | 1.22% | 94,149 | $33.3M | Reduce -0.1% |
| WMB Williams Cos Inc. | 1.13% | 673,348 | $30.7M | Reduce -0.6% |
| MA Mastercard Inc. Class A | 1.12% | 61,858 | $30.5M | Reduce -0.0% |
| UNH Unitedhealth Group Inc. | 1.09% | 50,644 | $29.6M | Reduce -0.1% |
| MCD McDonald's Corp. | 1.06% | 95,171 | $29.0M | Add +0.8% |
| TRI Thomson Reuters Corp. | 1.05% | 168,084 | $28.7M | Reduce -16.6% |
| ASML ASML Holding NV-NY Reg SHS | 1.01% | 32,925 | $27.4M | Reduce -0.6% |
| STN Stantec Inc. | 1.00% | 339,916 | $27.4M | Reduce -15.5% |
| CCJ Cameco Corp. | 0.95% | 544,607 | $26.0M | Reduce -23.2% |
| TECK Teck Resources Ltd.-CLS B | 0.95% | 494,140 | $25.8M | Reduce -6.9% |
| NVO Novo-Nordisk A/S-Spons ADR | 0.91% | 209,066 | $24.9M | Reduce -0.4% |
| BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA HALIFAX | 0.91% | 454,367 | $24.8M | Reduce -1.6% |
| GOOGL Alphabet Inc. Class A | 0.89% | 145,805 | $24.2M | Reduce -8.6% |
| TTE Totalenergies SE -Spon ADR | 0.81% | 342,991 | $22.2M | Reduce -0.6% |
| RSG Republic Services Inc. | 0.81% | 109,399 | $22.0M | Reduce -0.6% |
| JNJ Johnson & Johnson | 0.76% | 128,568 | $20.8M | Reduce -3.6% |
| SHEL Shell PLC-ADR | 0.74% | 307,786 | $20.3M | Reduce -0.6% |
| HD Home Depot Inc. | 0.74% | 49,825 | $20.2M | Reduce -0.3% |
| PBA Pembina Pipeline Corp. | 0.73% | 482,836 | $19.9M | Reduce -1.9% |
| B Barrick Gold Corp. | 0.69% | 950,965 | $18.9M | Reduce -2.0% |
| SLF Sun Life Financial Inc. | 0.68% | 317,656 | $18.4M | Reduce -14.7% |
| WM Waste Management Inc. | 0.65% | 85,534 | $17.8M | Add +0.1% |
| RCI Rogers Communications Inc. Class B | 0.65% | 440,598 | $17.7M | Add +11.9% |
| HIG Hartford Insurance Group Inc. | 0.62% | 144,844 | $17.0M | Add +32.6% |
| GRP.U Granite Real Estate Investme | 0.62% | 279,243 | $16.9M | Reduce -1.9% |
| NTR Nutrien Ltd. | 0.54% | 307,010 | $14.8M | Reduce -1.6% |
| ABBV Abbvie Inc. | 0.53% | 73,873 | $14.6M | Reduce -0.6% |
| BEPC Brookfield Renewable Cor-A | 0.53% | 443,358 | $14.5M | Reduce -14.8% |
| TRP TC Energy Corp. | 0.52% | 296,127 | $14.1M | Reduce -2.0% |
| APD Air Products & Chemicals Inc. | 0.51% | 46,746 | $13.9M | Reduce -1.6% |
| BIPC Brookfield Infrastructure-A | 0.50% | 315,338 | $13.7M | Reduce -16.9% |
| EQIX Equinix Inc. | 0.49% | 15,024 | $13.3M | Reduce -0.5% |
| GWW WW Grainger Inc. filed as GRAINGER W W INC | 0.45% | 11,706 | $12.2M | Reduce -0.5% |
| BKNG Booking Holdings Inc. | 0.44% | 2,838 | $12.0M | Add +2.8% |
| BEP Brookfield Renewable Partner | 0.43% | 417,350 | $11.8M | Reduce -2.0% |
| KVUE Kenvue Inc. | 0.43% | 507,500 | $11.7M | Reduce -3.4% |
| PG The Procter & Gamble Co. | 0.43% | 67,314 | $11.7M | Reduce -0.6% |
| IBN Icici Bank Ltd.-Spon ADR | 0.39% | 357,605 | $10.7M | Add +12.1% |
| CME Cme Group Inc. | 0.38% | 46,919 | $10.4M | Reduce -2.1% |
| UL Unilever PLC | 0.36% | 149,462 | $9.7M | Reduce -0.1% |
| SHOP Shopify Inc. Class A | 0.28% | 93,892 | $7.5M | Reduce -25.3% |
| WEC WEC Energy Group Inc. | 0.27% | 77,417 | $7.4M | Reduce -0.6% |
| AMGN Amgen Inc. | 0.27% | 22,987 | $7.4M | Reduce -0.6% |
| CL Colgate-Palmolive Co. | 0.26% | 67,320 | $7.0M | Add +0.9% |
| MKTX Marketaxess Holdings Inc. | 0.24% | 25,274 | $6.5M | Add +0.8% |
| SNY Sanofi-ADR | 0.24% | 111,969 | $6.5M | Reduce -0.5% |
| EOG EOG Resources Inc. | 0.23% | 52,087 | $6.4M | Add +16.6% |
| ITW Illinois Tool Works | 0.23% | 24,138 | $6.3M | Reduce -0.2% |
| NKE Nike Inc. Class B | 0.22% | 67,208 | $5.9M | Add +0.6% |
| YUMC Yum China Holdings Inc. | 0.22% | 131,379 | $5.9M | Add +47.5% |
| ADP Automatic Data Processing | 0.20% | 20,051 | $5.5M | Add +1.0% |
| VRSK Verisk Analytics Inc. | 0.19% | 19,066 | $5.1M | Add +0.5% |
| NVDA Nvidia Corp. | 0.18% | 39,939 | $4.9M | Reduce -0.6% |
| AMZN Amazon.com Inc. | 0.16% | 23,669 | $4.4M | Add +2.5% |
| ILMN Illumina Inc. | 0.16% | 33,597 | $4.4M | Add +45.7% |
| WAT Waters Corp. | 0.16% | 12,034 | $4.3M | Add +0.8% |
| AZN Astrazeneca PLC-Spons ADR | 0.16% | 54,454 | $4.2M | Reduce -2.7% |
| IMO Imperial Oil Ltd. | 0.15% | 56,789 | $4.0M | Reduce -1.6% |
| GOOG Alphabet Inc. Class C | 0.14% | 22,244 | $3.7M | Reduce -0.6% |
| PEP Pepsico Inc. | 0.13% | 21,593 | $3.7M | Add +3.6% |
| WCN Waste Connections Inc. | 0.12% | 18,678 | $3.3M | Reduce -31.7% |
| TXN Texas Instruments Inc. | 0.12% | 16,055 | $3.3M | No change |
| EWJV iShares MSCI Japan Value ETF | 0.12% | 95,490 | $3.2M | New |
| ROP Roper Technologies Inc. | 0.11% | 5,578 | $3.1M | Add +3.7% |
| DUK Duke Energy Corp. | 0.11% | 26,566 | $3.1M | Add +3.1% |
| ISRG Intuitive Surgical Inc. | 0.11% | 6,145 | $3.0M | Reduce -0.6% |
| AFL Aflac Inc. | 0.11% | 26,422 | $3.0M | No change |
| JPM JPMorgan Chase & Co. | 0.11% | 13,669 | $2.9M | Reduce -2.8% |
| AXP American Express Co. | 0.10% | 10,388 | $2.8M | No change |
| EMR Emerson Electric Co. | 0.10% | 25,563 | $2.8M | No change |
| INTU Intuit Inc. | 0.10% | 4,470 | $2.8M | Add +7.2% |
| RTX RTX Corp. | 0.10% | 22,328 | $2.7M | Add +9.6% |
| ARM Arm Holdings PLC-ADR | 0.10% | 18,808 | $2.7M | Add +13.8% |
| ESMV iShares ESG Optimized MSCI U | 0.10% | 92,774 | $2.7M | Add +80.8% |
| SBUX Starbucks Corp. | 0.09% | 24,244 | $2.4M | Add +4.3% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.08% | 23,926 | $2.3M | Add +10.1% |
| MGA Magna International Inc. | 0.08% | 55,545 | $2.3M | No change |
| DHR Danaher Corp. | 0.08% | 8,202 | $2.3M | Add +64.0% |
Options reported separately and not counted above: NVO puts ($1.8M), YUMC puts ($222K), BKNG puts ($216K).
Portfolio Sells Q2 2024 → Q3 2024
| CNQ Canadian Natural Resources | Reduce -15.0% | 3.55% | −1.06 |
| BMO Bank of Montreal | Reduce -15.9% | 7.15% | −0.97 |
| SU Suncor Energy Inc. | Reduce -16.9% | 3.08% | −0.85 |
| CCJ Cameco Corp. | Reduce -23.2% | 0.95% | −0.36 |
| CP Canadian Pacific Kansas City | Reduce -16.7% | 2.50% | −0.34 |
| ASML ASML Holding NV-NY Reg SHS | Reduce -0.6% | 1.01% | −0.27 |
| STN Stantec Inc. | Reduce -15.5% | 1.00% | −0.27 |
| TRI Thomson Reuters Corp. | Reduce -16.6% | 1.05% | −0.23 |
| NVO Novo-Nordisk A/S-Spons ADR | Reduce -0.4% | 0.91% | −0.22 |
| GOOGL Alphabet Inc. Class A | Reduce -8.6% | 0.89% | −0.21 |
| MSFT Microsoft Corp. | Reduce -0.2% | 2.15% | −0.15 |
| SHEL Shell PLC-ADR | Reduce -0.6% | 0.74% | −0.10 |
| WCN Waste Connections Inc. | Reduce -31.7% | 0.12% | −0.06 |
| NTR Nutrien Ltd. | Reduce -1.6% | 0.54% | −0.06 |
| TTE Totalenergies SE -Spon ADR | Reduce -0.6% | 0.81% | −0.06 |
| FTS Fortis Inc. | Reduce -15.7% | 1.27% | −0.05 |
| SHOP Shopify Inc. Class A | Reduce -25.3% | 0.28% | −0.04 |
| FDS Factset Research Systems Inc. | Sold out | 0.00% | −0.04 |
| DSGX The Descartes Systems Grp | Reduce -31.2% | 0.08% | −0.03 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | Reduce -26.9% | 0.07% | −0.03 |
| BEPC Brookfield Renewable Cor-A | Reduce -14.8% | 0.53% | −0.03 |
| GOOG Alphabet Inc. Class C | Reduce -0.6% | 0.14% | −0.02 |
| CIGI Colliers Intl GR-Subord Vot | Reduce -45.1% | 0.05% | −0.02 |
| TECK Teck Resources Ltd.-CLS B | Reduce -6.9% | 0.95% | −0.01 |
| SLF Sun Life Financial Inc. | Reduce -14.7% | 0.68% | −0.01 |
| TM Toyota Motor Corp. -Spon ADR | Sold out | 0.00% | −0.01 |
| NVDA Nvidia Corp. | Reduce -0.6% | 0.18% | −0.01 |
| AZN Astrazeneca PLC-Spons ADR | Reduce -2.7% | 0.16% | −0.01 |
| MEOH Methanex Corp. | Sold out | 0.00% | −0.01 |
| BAM Brookfield Asset Mgmt-A | Reduce -22.3% | 0.08% | −0.01 |
| HCSG Healthcare Services Group | Sold out | 0.00% | −0.00 |
| LLY Eli Lilly & Co. | Reduce -0.6% | 0.06% | −0.00 |
| ADBE Adobe Inc. | Reduce -0.5% | 0.03% | −0.00 |
| IMO Imperial Oil Ltd. | Reduce -1.6% | 0.15% | −0.00 |
| JPM JPMorgan Chase & Co. | Reduce -2.8% | 0.11% | −0.00 |
| RSG Republic Services Inc. | Reduce -0.6% | 0.81% | −0.00 |
| AMGN Amgen Inc. | Reduce -0.6% | 0.27% | −0.00 |
| HL Hecla Mining Co. | Reduce -44.4% | 0.00% | −0.00 |
| WPM Wheaton Precious Metals Corp. | Reduce -11.8% | 1.42% | +0.00 |
| A Agilent Technologies Inc. | Reduce -0.6% | 0.03% | +0.00 |
| META Meta Platforms Inc. Class A | Reduce -2.4% | 0.07% | +0.00 |
| PG The Procter & Gamble Co. | Reduce -0.6% | 0.43% | +0.01 |
| ISRG Intuitive Surgical Inc. | Reduce -0.6% | 0.11% | +0.01 |
| SHW The Sherwin-Williams Co. | Reduce -0.7% | 0.04% | +0.01 |
| NOW ServiceNow Inc. | Reduce -0.6% | 0.08% | +0.01 |
| ITW Illinois Tool Works | Reduce -0.2% | 0.23% | +0.02 |
| BIPC Brookfield Infrastructure-A | Reduce -16.9% | 0.50% | +0.02 |
| MFC Manulife Financial Corp. | Reduce -5.8% | 1.33% | +0.02 |
| CME Cme Group Inc. | Reduce -2.1% | 0.38% | +0.02 |
| JNJ Johnson & Johnson | Reduce -3.6% | 0.76% | +0.03 |
Portfolio Buys Q2 2024 → Q3 2024
| CM Can Imperial BK of Commerce | Add +16.9% | 2.62% | +0.83 |
| TD Toronto-Dominion Bank | Add +11.1% | 1.93% | +0.38 |
| TU Telus Corp. | Add +0.8% | 2.98% | +0.24 |
| HIG Hartford Insurance Group Inc. | Add +32.6% | 0.62% | +0.21 |
| MCD McDonald's Corp. | Add +0.8% | 1.06% | +0.15 |
| EWJV iShares MSCI Japan Value ETF | New | 0.12% | +0.12 |
| YUMC Yum China Holdings Inc. | Add +47.5% | 0.22% | +0.11 |
| RCI Rogers Communications Inc. Class B | Add +11.9% | 0.65% | +0.10 |
| ILMN Illumina Inc. | Add +45.7% | 0.16% | +0.07 |
| MKTX Marketaxess Holdings Inc. | Add +0.8% | 0.24% | +0.05 |
| ESMV iShares ESG Optimized MSCI U | Add +80.8% | 0.10% | +0.05 |
| IBN Icici Bank Ltd.-Spon ADR | Add +12.1% | 0.39% | +0.04 |
| COST Costco Wholesale Corp. | Add +1.3% | 1.71% | +0.04 |
| DHR Danaher Corp. | Add +64.0% | 0.08% | +0.04 |
| APH Amphenol Corp. Class A | New | 0.03% | +0.03 |
| WAT Waters Corp. | Add +0.8% | 0.16% | +0.03 |
| NKE Nike Inc. Class B | Add +0.6% | 0.22% | +0.03 |
| BKNG Booking Holdings Inc. | Add +2.8% | 0.44% | +0.03 |
| ADP Automatic Data Processing | Add +1.0% | 0.20% | +0.02 |
| EOG EOG Resources Inc. | Add +16.6% | 0.23% | +0.02 |
| RTX RTX Corp. | Add +9.6% | 0.10% | +0.02 |
| SBUX Starbucks Corp. | Add +4.3% | 0.09% | +0.02 |
| QSR Restaurant Brands Intern | Add +0.8% | 3.37% | +0.02 |
| DUK Duke Energy Corp. | Add +3.1% | 0.11% | +0.01 |
| CL Colgate-Palmolive Co. | Add +0.9% | 0.26% | +0.01 |
| PH Parker Hannifin Corp. | Add +9.8% | 0.05% | +0.01 |
| V Visa Inc. Class A | Add +27.0% | 0.05% | +0.01 |
| TJX TJX Companies Inc. | Add +23.0% | 0.05% | +0.01 |
| AME Ametek Inc. | New | 0.01% | +0.01 |
| GRID First TRST Nasd Class Edg Sgiif | Add +9.1% | 0.07% | +0.01 |
| PEP Pepsico Inc. | Add +3.6% | 0.13% | +0.00 |
| DIS The Walt Disney Co. | Add +10.1% | 0.08% | +0.00 |
| CDNS Cadence Design SYS Inc. | Add +19.6% | 0.05% | +0.00 |
| ROP Roper Technologies Inc. | Add +3.7% | 0.11% | −0.00 |
| INTU Intuit Inc. | Add +7.2% | 0.10% | −0.00 |
| CVX Chevron Corp. | Add +6.4% | 0.07% | −0.00 |
| ARM Arm Holdings PLC-ADR | Add +13.8% | 0.10% | −0.00 |
| VRSK Verisk Analytics Inc. | Add +0.5% | 0.19% | −0.01 |
| AMZN Amazon.com Inc. | Add +2.5% | 0.16% | −0.01 |
| SNPS Synopsys Inc. | Add +7.4% | 0.06% | −0.01 |
| CNI Canadian Natl Railway Co. | Add +2.9% | 1.33% | −0.01 |
| WM Waste Management Inc. | Add +0.1% | 0.65% | −0.04 |
Options Activity Q2 2024 → Q3 2024
| NVO Novo-Nordisk A/S-Spons ADR | put | New | 18,200 | $1.8M |
| NKE Nike Inc. Class B | put | Sold out | 116 | $242Kbefore exit |
| ACN Accenture PLC Class A | put | Sold out | 52 | $225Kbefore exit |
| YUMC Yum China Holdings Inc. | put | Add +51.7% | 352 | $222K |
| BKNG Booking Holdings Inc. | put | New | 7 | $216K |
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 |