Guardian Capital LP

Name: GUARDIAN CAPITAL LP 13F holdings, Q3 2024
Creator: GUARDIAN CAPITAL LP
Published: 2024-11-12

Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q2 2024Q1 2024

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%
NOW ServiceNow Inc.	0.08%	2,541	$2.3M	Reduce -0.6%
DSGX The Descartes Systems Grp	0.08%	20,869	$2.1M	Reduce -31.2%
BAM Brookfield Asset Mgmt-A	0.08%	43,801	$2.1M	Reduce -22.3%
HYG Ishr Ibx Usd Hiyld CB ETF-Ui	0.07%	24,500	$2.0M	Reduce -26.9%
CVX Chevron Corp.	0.07%	13,354	$2.0M	Add +6.4%
GRID First TRST Nasd Class Edg Sgiif	0.07%	14,726	$1.9M	Add +9.1%
META Meta Platforms Inc. Class A	0.07%	3,264	$1.9M	Reduce -2.4%
LLY Eli Lilly & Co.	0.06%	1,839	$1.6M	Reduce -0.6%
SNPS Synopsys Inc.	0.06%	3,091	$1.6M	Add +7.4%
CDNS Cadence Design SYS Inc.	0.05%	5,228	$1.4M	Add +19.6%
CIGI Colliers Intl GR-Subord Vot	0.05%	8,628	$1.3M	Reduce -45.1%
V Visa Inc. Class A	0.05%	4,728	$1.3M	Add +27.0%
PH Parker Hannifin Corp.	0.05%	2,032	$1.3M	Add +9.8%
TJX TJX Companies Inc. filed as TJX COS INC NEW	0.05%	10,922	$1.3M	Add +23.0%
SHW The Sherwin-Williams Co.	0.04%	2,603	$993K	Reduce -0.7%
CRH CRH PLC	0.03%	9,511	$882K	No change
A Agilent Technologies Inc.	0.03%	5,782	$859K	Reduce -0.6%
APH Amphenol Corp. Class A	0.03%	12,512	$815K	New
ADBE Adobe Inc.	0.03%	1,316	$681K	Reduce -0.5%
AQN Algonquin Power & Utilities	0.02%	83,701	$458K	No change
BCE Bce Inc.	0.01%	10,439	$363K	No change
MPWR Monolithic Power Systems Inc.	0.01%	373	$345K	No change
MSI Motorola Solutions Inc.	0.01%	696	$313K	No change
AME Ametek Inc.	0.01%	1,577	$271K	New
HL Hecla Mining Co.	0.00%	12,274	$82K	Reduce -44.4%

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