Lorne Steinberg Wealth Management Inc.
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 31, 2025), Lorne Steinberg Wealth Management Inc. reported 70 stock positions worth $415.0 million. Its top holding was Royal Bank of Canada (RY) at 4.5% of the portfolio, followed by Alphabet Class A (GOOGL, 3.6%) and Can Imperial BK of Commerce (CM, 3.5%). Compared with Q2 2025, it opened 6 new positions, sold out of 6, added to 38 and reduced 20. The biggest buy was a new position in Telus (TU) and the biggest sale an exit from Telus.
- Most Recent 13F
- Q2 2026
- Location
- MONTREAL, QUEBEC, Z4
- CIK
- 0001851362
- Portfolio Value
- $415.0M (Q3 2025)
- SEC Filing
- 0001851362-25-000006 ↗ filed Oct 31, 2025
Holdings Value
Holdings 70 stocks · $415.0M
| RY Royal Bank of Canada | 4.51% | 126,917 | $18.7M | Add +4.1% |
| GOOGL Alphabet Inc. Class A | 3.58% | 61,115 | $14.9M | Add +0.9% |
| CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BANK OF CO | 3.54% | 183,701 | $14.7M | Add +1.7% |
| MSFT Microsoft Corp. | 3.51% | 28,138 | $14.6M | Reduce -1.3% |
| BMO Bank of Montreal filed as BANK MONTREAL QUE | 3.06% | 97,377 | $12.7M | Add +5.8% |
| TD Toronto-Dominion Bank | 2.97% | 154,081 | $12.3M | Add +3.3% |
| JPM JPMorgan Chase & Co. | 2.94% | 38,650 | $12.2M | Add +0.3% |
| BRK.B Berkshire Hathaway Inc. Class B | 2.79% | 23,026 | $11.6M | Reduce -0.4% |
| BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA HALIFAX | 2.70% | 173,477 | $11.2M | Add +2.6% |
| ALL Allstate Corp. | 2.64% | 51,006 | $10.9M | Reduce -1.4% |
| AXP American Express Co. | 2.61% | 32,569 | $10.8M | Reduce -0.8% |
| TRP TC Energy Corp. | 2.46% | 187,950 | $10.2M | Add +2.5% |
| META Meta Platforms Inc. Class A | 2.42% | 13,673 | $10.0M | Add +0.3% |
| AMZN Amazon.com Inc. | 2.40% | 45,428 | $10.0M | Add +1.5% |
| EA Electronic Arts Inc. | 2.39% | 49,260 | $9.9M | Add +0.9% |
| SNN Smith & Nephew PLC -Spon ADR | 2.31% | 264,320 | $9.6M | Add +0.7% |
| V Visa Inc. Class A | 2.31% | 28,037 | $9.6M | Add +0.2% |
| TSM Taiwan Semiconductor-SP ADR | 1.99% | 29,548 | $8.3M | Add +1.6% |
| GS Goldman Sachs Group Inc. | 1.98% | 10,309 | $8.2M | Reduce -0.8% |
| CVS CVS Health Corp. | 1.98% | 108,844 | $8.2M | Reduce -0.8% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 1.97% | 71,345 | $8.2M | Reduce -0.7% |
| MS Morgan Stanley | 1.96% | 51,237 | $8.1M | Reduce -1.9% |
| CP Canadian Pacific Kansas City | 1.95% | 108,911 | $8.1M | Add +10.3% |
| CNI Canadian Natl Railway Co. | 1.89% | 83,095 | $7.8M | Add +23.3% |
| CSCO Cisco Systems Inc. | 1.84% | 111,793 | $7.6M | Reduce -1.3% |
| CTVA Corteva Inc. | 1.77% | 108,790 | $7.4M | Reduce -1.4% |
| OTEX Open Text Corp. | 1.74% | 193,233 | $7.2M | Add +14.8% |
| BN Brookfield Corp. | 1.72% | 104,125 | $7.1M | Add +1.7% |
| SLF Sun Life Financial Inc. | 1.70% | 117,826 | $7.1M | Add +1.3% |
| JNJ Johnson & Johnson | 1.65% | 36,961 | $6.9M | Add +2.6% |
| MFC Manulife Financial Corp. | 1.60% | 213,524 | $6.7M | Add +11.3% |
| NTR Nutrien Ltd. | 1.51% | 106,996 | $6.3M | Add +12.6% |
| VTRS Viatris Inc. | 1.50% | 629,411 | $6.2M | Reduce -0.0% |
| SBUX Starbucks Corp. | 1.44% | 70,406 | $6.0M | Add +1.0% |
| TU Telus Corp. | 1.41% | 372,036 | $5.9M | New |
| UL Unilever PLC | 1.39% | 97,596 | $5.8M | Add +3.2% |
| DEO Diageo PLC-Sponsored ADR | 1.34% | 58,410 | $5.6M | Add +4.4% |
| ADBE Adobe Inc. | 1.27% | 14,892 | $5.3M | Add +4.3% |
| BDX Becton Dickinson and Co. | 1.24% | 27,528 | $5.2M | Add +0.8% |
| TSCO Tractor Supply Company | 1.20% | 87,362 | $5.0M | Reduce -1.2% |
| ADP Automatic Data Processing | 1.18% | 16,685 | $4.9M | Add +96.2% |
| STT State Street Corp. | 1.09% | 39,085 | $4.5M | Reduce -0.4% |
| RCI Rogers Communications Inc. Class B | 1.07% | 129,207 | $4.4M | Add +5.1% |
| BCE Bce Inc. | 1.05% | 188,042 | $4.4M | Add +4.1% |
| AAPL Apple Inc. | 1.02% | 16,557 | $4.2M | Add +3.6% |
| CNQ Canadian Natural Resources | 0.85% | 110,232 | $3.5M | Add +26.4% |
| MIDD Middleby Corp. | 0.77% | 23,950 | $3.2M | Reduce -1.6% |
| KVUE Kenvue Inc. | 0.75% | 190,760 | $3.1M | Add +2.0% |
| MCD McDonald's Corp. | 0.70% | 9,551 | $2.9M | Add +665.9% |
| KHC The Kraft Heinz Co. | 0.68% | 108,460 | $2.8M | Add +0.6% |
| LIN Linde PLC | 0.64% | 5,550 | $2.6M | New |
| NKE Nike Inc. Class B | 0.61% | 36,591 | $2.6M | Add +0.7% |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | 0.51% | 25,940 | $2.1M | Reduce -7.5% |
| JNK SS SPDR BB High Yield Bond | 0.30% | 12,510 | $1.2M | No change |
| URTH iShares MSCI World ETF | 0.24% | 5,494 | $997K | Reduce -43.8% |
| GOOG Alphabet Inc. Class C | 0.19% | 3,223 | $785K | Reduce -2.8% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.18% | 1 | $754K | No change |
| LLY Eli Lilly & Co. | 0.13% | 715 | $546K | Add +127.0% |
| NVDA Nvidia Corp. | 0.12% | 2,642 | $493K | Reduce -9.0% |
| COST Costco Wholesale Corp. | 0.10% | 456 | $422K | No change |
| PG The Procter & Gamble Co. | 0.09% | 2,555 | $393K | No change |
| RCL Royal Caribbean Cruises Ltd. | 0.08% | 1,000 | $324K | No change |
| ORCL Oracle Corp. | 0.07% | 1,060 | $298K | Reduce -16.9% |
| ING ING Groep N.V.-Sponsored ADR | 0.06% | 10,250 | $267K | No change |
| MRK Merck & Co. Inc. | 0.06% | 3,023 | $254K | Add +15.3% |
| WMT Walmart Inc. | 0.06% | 2,349 | $242K | Reduce -1.9% |
| EWC iShares MSCI Canada ETF | 0.06% | 4,580 | $232K | New |
| ENB Enbridge Inc. | 0.05% | 4,300 | $217K | New |
| HUM Humana Inc. | 0.05% | 800 | $208K | New |
| GLW Corning Inc. | 0.05% | 2,500 | $205K | New |
Portfolio Sells Q2 2025 → Q3 2025
| Telus Corp. | Sold out | 0.00% | −1.48 |
| MGA Magna International Inc. | Sold out | 0.00% | −0.85 |
| WBD Warner Bros Discovery Inc. | Sold out | 0.00% | −0.67 |
| SMG Scotts Miracle-Gro Co. | Sold out | 0.00% | −0.59 |
| CTVA Corteva Inc. | Reduce -1.4% | 1.77% | −0.38 |
| DIS The Walt Disney Co. | Reduce -0.7% | 1.97% | −0.36 |
| CSCO Cisco Systems Inc. | Reduce -1.3% | 1.84% | −0.21 |
| URTH iShares MSCI World ETF | Reduce -43.8% | 0.24% | −0.19 |
| MSFT Microsoft Corp. | Reduce -1.3% | 3.51% | −0.19 |
| MIDD Middleby Corp. | Reduce -1.6% | 0.77% | −0.15 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -0.4% | 2.79% | −0.14 |
| CVE Cenovus Energy Inc. | Sold out | 0.00% | −0.13 |
| AXP American Express Co. | Reduce -0.8% | 2.61% | −0.13 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | Reduce -7.5% | 0.51% | −0.08 |
| ALL Allstate Corp. | Reduce -1.4% | 2.64% | −0.08 |
| DFJ Wisdomtree JPN S/C DVD Fund | Sold out | 0.00% | −0.06 |
| TSCO Tractor Supply Company | Reduce -1.2% | 1.20% | −0.02 |
| WMT Walmart Inc. | Reduce -1.9% | 0.06% | −0.00 |
| ORCL Oracle Corp. | Reduce -16.9% | 0.07% | −0.00 |
| NVDA Nvidia Corp. | Reduce -9.0% | 0.12% | −0.00 |
| CVS CVS Health Corp. | Reduce -0.8% | 1.98% | +0.00 |
| STT State Street Corp. | Reduce -0.4% | 1.09% | +0.00 |
| VTRS Viatris Inc. | Reduce -0.0% | 1.50% | +0.03 |
| GOOG Alphabet Inc. Class C | Reduce -2.8% | 0.19% | +0.04 |
| MS Morgan Stanley | Reduce -1.9% | 1.96% | +0.04 |
| GS Goldman Sachs Group Inc. | Reduce -0.8% | 1.98% | +0.06 |
Portfolio Buys Q2 2025 → Q3 2025
| TU Telus Corp. | New | 1.41% | +1.41 |
| GOOGL Alphabet Inc. Class A | Add +0.9% | 3.58% | +0.79 |
| LIN Linde PLC | New | 0.64% | +0.64 |
| MCD McDonald's Corp. | Add +665.9% | 0.70% | +0.60 |
| ADP Automatic Data Processing | Add +96.2% | 1.18% | +0.50 |
| OTEX Open Text Corp. | Add +14.8% | 1.74% | +0.45 |
| BMO Bank of Montreal | Add +5.8% | 3.06% | +0.39 |
| EA Electronic Arts Inc. | Add +0.9% | 2.39% | +0.36 |
| RY Royal Bank of Canada | Add +4.1% | 4.51% | +0.31 |
| TSM Taiwan Semiconductor-SP ADR | Add +1.6% | 1.99% | +0.27 |
| BNS Bank of Nova Scotia | Add +2.6% | 2.70% | +0.26 |
| JNJ Johnson & Johnson | Add +2.6% | 1.65% | +0.22 |
| SNN Smith & Nephew PLC -Spon ADR | Add +0.7% | 2.31% | +0.21 |
| AAPL Apple Inc. | Add +3.6% | 1.02% | +0.16 |
| CM Can Imperial BK of Commerce | Add +1.7% | 3.54% | +0.15 |
| CNQ Canadian Natural Resources | Add +26.4% | 0.85% | +0.13 |
| TRP TC Energy Corp. | Add +2.5% | 2.46% | +0.12 |
| RCI Rogers Communications Inc. Class B | Add +5.1% | 1.07% | +0.12 |
| TD Toronto-Dominion Bank | Add +3.3% | 2.97% | +0.10 |
| LLY Eli Lilly & Co. | Add +127.0% | 0.13% | +0.07 |
| NTR Nutrien Ltd. | Add +12.6% | 1.51% | +0.07 |
| BN Brookfield Corp. | Add +1.7% | 1.72% | +0.06 |
| EWC iShares MSCI Canada ETF | New | 0.06% | +0.06 |
| CNI Canadian Natl Railway Co. | Add +23.3% | 1.89% | +0.05 |
| ENB Enbridge Inc. | New | 0.05% | +0.05 |
| HUM Humana Inc. | New | 0.05% | +0.05 |
| GLW Corning Inc. | New | 0.05% | +0.05 |
| JPM JPMorgan Chase & Co. | Add +0.3% | 2.94% | +0.02 |
| BDX Becton Dickinson and Co. | Add +0.8% | 1.24% | +0.01 |
| MRK Merck & Co. Inc. | Add +15.3% | 0.06% | +0.01 |
| BCE Bce Inc. | Add +4.1% | 1.05% | +0.01 |
| MFC Manulife Financial Corp. | Add +11.3% | 1.60% | −0.00 |
| KHC The Kraft Heinz Co. | Add +0.6% | 0.68% | −0.05 |
| NKE Nike Inc. Class B | Add +0.7% | 0.61% | −0.06 |
| CP Canadian Pacific Kansas City | Add +10.3% | 1.95% | −0.10 |
| UL Unilever PLC | Add +3.2% | 1.39% | −0.12 |
| DEO Diageo PLC-Sponsored ADR | Add +4.4% | 1.34% | −0.13 |
| AMZN Amazon.com Inc. | Add +1.5% | 2.40% | −0.16 |
| ADBE Adobe Inc. | Add +4.3% | 1.27% | −0.18 |
| META Meta Platforms Inc. Class A | Add +0.3% | 2.42% | −0.21 |
| SBUX Starbucks Corp. | Add +1.0% | 1.44% | −0.23 |
| KVUE Kenvue Inc. | Add +2.0% | 0.75% | −0.28 |
| V Visa Inc. Class A | Add +0.2% | 2.31% | −0.29 |
| SLF Sun Life Financial Inc. | Add +1.3% | 1.70% | −0.32 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 72 | $486.6M | RY, GOOGL, TD, BMO, CM |
| Q1 2026 | 68 | $422.1M | RY, GOOGL, TD, CM, BMO |
| Q4 2025 | 72 | $434.9M | RY, GOOGL, CM, TD, MSFT |
| Q3 2025 | 70 | $415.0M | RY, GOOGL, CM, MSFT, BMO |
| Q2 2025 | 70 | $382.9M | RY, MSFT, CM, BRK.B, JPM |
| Q1 2025 | 70 | $343.1M | RY, BRK.B, META, ALL, MSFT |
| Q4 2024 | 70 | $344.9M | RY, META, MSFT, GOOGL, BRK.B |
| Q3 2024 | 69 | $345.9M | RY, MSFT, META, BRK.B, GOOGL |
| Q2 2024 | 68 | $310.7M | MSFT, GOOGL, RY, META, BRK.B |
| Q1 2024 | 69 | $320.3M | MSFT, RY, META, BRK.B, GOOGL |