Lorne Steinberg Wealth Management Inc.
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 27, 2026), Lorne Steinberg Wealth Management Inc. reported 72 stock positions worth $434.9 million. Its top holding was Royal Bank of Canada (RY) at 5.0% of the portfolio, followed by Alphabet Class A (GOOGL, 4.4%) and Can Imperial BK of Commerce (CM, 3.8%). Compared with Q3 2025, it opened 5 new positions, sold out of 3, added to 32 and reduced 27. The biggest buy was a new position in Kimberly-Clark (KMB) and the biggest sale an exit from Kraft Heinz (KHC).
- Most Recent 13F
- Q2 2026
- Location
- MONTREAL, QUEBEC, Z4
- CIK
- 0001851362
- Portfolio Value
- $434.9M (Q4 2025)
- SEC Filing
- 0001851362-26-000001 ↗ filed Jan 27, 2026
Holdings Value
Holdings 72 stocks · $434.9M
| RY Royal Bank of Canada | 5.02% | 127,924 | $21.8M | Add +0.8% |
| GOOGL Alphabet Inc. Class A | 4.38% | 60,895 | $19.1M | Reduce -0.4% |
| CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BANK OF CO | 3.85% | 184,192 | $16.7M | Add +0.3% |
| TD Toronto-Dominion Bank | 3.38% | 155,697 | $14.7M | Add +1.1% |
| MSFT Microsoft Corp. | 3.12% | 28,059 | $13.6M | Reduce -0.3% |
| BMO Bank of Montreal filed as BANK MONTREAL QUE | 2.95% | 98,630 | $12.8M | Add +1.3% |
| BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA HALIFAX | 2.88% | 169,702 | $12.5M | Reduce -2.2% |
| JPM JPMorgan Chase & Co. | 2.84% | 38,356 | $12.4M | Reduce -0.8% |
| AXP American Express Co. | 2.76% | 32,394 | $12.0M | Reduce -0.5% |
| BRK.B Berkshire Hathaway Inc. Class B | 2.66% | 22,977 | $11.5M | Reduce -0.2% |
| TRP TC Energy Corp. | 2.54% | 200,314 | $11.0M | Add +6.6% |
| ALL Allstate Corp. | 2.43% | 50,816 | $10.6M | Reduce -0.4% |
| AMZN Amazon.com Inc. | 2.43% | 45,723 | $10.6M | Add +0.7% |
| EA Electronic Arts Inc. | 2.32% | 49,295 | $10.1M | Add +0.1% |
| V Visa Inc. Class A | 2.26% | 28,074 | $9.8M | Add +0.1% |
| CNI Canadian Natl Railway Co. | 2.18% | 95,555 | $9.5M | Add +15.0% |
| MS Morgan Stanley | 2.09% | 51,208 | $9.1M | Reduce -0.1% |
| GS Goldman Sachs Group Inc. | 2.08% | 10,306 | $9.1M | Reduce -0.0% |
| META Meta Platforms Inc. Class A | 2.08% | 13,695 | $9.0M | Add +0.2% |
| TSM Taiwan Semiconductor-SP ADR | 2.07% | 29,553 | $9.0M | Add +0.0% |
| SNN Smith & Nephew PLC -Spon ADR | 2.00% | 265,320 | $8.7M | Add +0.4% |
| CVS CVS Health Corp. | 1.99% | 108,924 | $8.6M | Add +0.1% |
| CSCO Cisco Systems Inc. | 1.97% | 111,368 | $8.6M | Reduce -0.4% |
| CP Canadian Pacific Kansas City | 1.88% | 110,891 | $8.2M | Add +1.8% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 1.87% | 71,325 | $8.1M | Reduce -0.0% |
| SLF Sun Life Financial Inc. | 1.83% | 127,168 | $7.9M | Add +7.9% |
| MFC Manulife Financial Corp. | 1.79% | 214,368 | $7.8M | Add +0.4% |
| VTRS Viatris Inc. | 1.78% | 623,116 | $7.8M | Reduce -1.0% |
| JNJ Johnson & Johnson | 1.77% | 37,174 | $7.7M | Add +0.6% |
| BN Brookfield Corp. | 1.68% | 159,026 | $7.3M | Add +1.8% |
| CTVA Corteva Inc. | 1.67% | 108,555 | $7.3M | Reduce -0.2% |
| NTR Nutrien Ltd. | 1.54% | 108,055 | $6.7M | Add +1.0% |
| OTEX Open Text Corp. | 1.46% | 194,613 | $6.3M | Add +0.7% |
| RCI Rogers Communications Inc. Class B | 1.39% | 160,009 | $6.0M | Add +23.8% |
| SBUX Starbucks Corp. | 1.31% | 67,706 | $5.7M | Reduce -3.8% |
| UL Unilever PLC-Sponsored ADR | 1.30% | 86,608 | $5.7M | Reduce -0.1% |
| ADBE Adobe Inc. | 1.20% | 14,947 | $5.2M | Add +0.4% |
| BDX Becton Dickinson and Co. | 1.20% | 26,803 | $5.2M | Reduce -2.6% |
| STT State Street Corp. | 1.16% | 39,045 | $5.0M | Reduce -0.1% |
| DEO Diageo PLC-Sponsored ADR | 1.11% | 56,000 | $4.8M | Reduce -4.1% |
| TU Telus Corp. | 1.10% | 363,257 | $4.8M | Reduce -2.4% |
| AAPL Apple Inc. | 1.04% | 16,593 | $4.5M | Add +0.2% |
| BCE Bce Inc. | 1.02% | 186,577 | $4.5M | Reduce -0.8% |
| TSCO Tractor Supply Company | 1.00% | 87,112 | $4.4M | Reduce -0.3% |
| ADP Automatic Data Processing | 0.98% | 16,490 | $4.2M | Reduce -1.2% |
| CNQ Canadian Natural Resources | 0.88% | 113,406 | $3.8M | Add +2.9% |
| MIDD Middleby Corp. | 0.81% | 23,795 | $3.5M | Reduce -0.7% |
| KVUE Kenvue Inc. | 0.75% | 189,585 | $3.3M | Reduce -0.6% |
| MCD McDonald's Corp. | 0.67% | 9,601 | $2.9M | Add +0.5% |
| KMB Kimberly-Clark Corp. | 0.57% | 24,755 | $2.5M | New |
| NKE Nike Inc. Class B | 0.52% | 35,441 | $2.3M | Reduce -3.1% |
| LIN Linde PLC | 0.52% | 5,295 | $2.3M | Reduce -4.6% |
| URTH iShares MSCI World ETF | 0.30% | 6,911 | $1.3M | Add +25.8% |
| GOOG Alphabet Inc. Class C | 0.23% | 3,223 | $1.0M | No change |
| LLY Eli Lilly & Co. | 0.18% | 729 | $783K | Add +2.0% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.17% | 1 | $755K | No change |
| COST Costco Wholesale Corp. | 0.09% | 470 | $405K | Add +3.1% |
| EWC iShares MSCI Canada ETF | 0.09% | 7,125 | $384K | Add +55.6% |
| PG The Procter & Gamble Co. | 0.09% | 2,623 | $376K | Add +2.7% |
| NVDA Nvidia Corp. | 0.08% | 1,812 | $338K | Reduce -31.4% |
| MRK Merck & Co. Inc. | 0.07% | 3,023 | $318K | No change |
| FTS Fortis Inc. | 0.07% | 5,779 | $301K | New |
| ING ING Groep N.V.-Sponsored ADR | 0.07% | 10,250 | $287K | No change |
| RCL Royal Caribbean Cruises Ltd. | 0.06% | 1,000 | $279K | No change |
| WMT Walmart Inc. | 0.06% | 2,496 | $278K | Add +6.3% |
| EFA iShares MSCI Eafe ETF | 0.05% | 2,345 | $225K | New |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.05% | 3,991 | $220K | New |
| GLW Corning Inc. | 0.05% | 2,500 | $219K | No change |
| ENB Enbridge Inc. | 0.05% | 4,419 | $212K | Add +2.8% |
| ORCL Oracle Corp. | 0.05% | 1,060 | $207K | No change |
| HUM Humana Inc. | 0.05% | 800 | $205K | No change |
| BHP BHP Group Ltd.-Spon ADR | 0.05% | 3,260 | $197K | New |
Portfolio Sells Q3 2025 → Q4 2025
| KHC The Kraft Heinz Co. | Sold out | 0.00% | −0.68 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | Sold out | 0.00% | −0.51 |
| MSFT Microsoft Corp. | Reduce -0.3% | 3.12% | −0.39 |
| TU Telus Corp. | Reduce -2.4% | 1.10% | −0.31 |
| JNK SS SPDR BB High Yield Bond | Sold out | 0.00% | −0.30 |
| DEO Diageo PLC-Sponsored ADR | Reduce -4.1% | 1.11% | −0.23 |
| ALL Allstate Corp. | Reduce -0.4% | 2.43% | −0.21 |
| ADP Automatic Data Processing | Reduce -1.2% | 0.98% | −0.20 |
| TSCO Tractor Supply Company | Reduce -0.3% | 1.00% | −0.20 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -0.2% | 2.66% | −0.13 |
| SBUX Starbucks Corp. | Reduce -3.8% | 1.31% | −0.12 |
| LIN Linde PLC | Reduce -4.6% | 0.52% | −0.12 |
| DIS The Walt Disney Co. | Reduce -0.0% | 1.87% | −0.10 |
| CTVA Corteva Inc. | Reduce -0.2% | 1.67% | −0.10 |
| JPM JPMorgan Chase & Co. | Reduce -0.8% | 2.84% | −0.10 |
| NKE Nike Inc. Class B | Reduce -3.1% | 0.52% | −0.10 |
| UL Unilever PLC-Sponsored ADR | Reduce -0.1% | 1.30% | −0.09 |
| BDX Becton Dickinson and Co. | Reduce -2.6% | 1.20% | −0.05 |
| NVDA Nvidia Corp. | Reduce -31.4% | 0.08% | −0.04 |
| BCE Bce Inc. | Reduce -0.8% | 1.02% | −0.03 |
| KVUE Kenvue Inc. | Reduce -0.6% | 0.75% | +0.01 |
| MIDD Middleby Corp. | Reduce -0.7% | 0.81% | +0.05 |
| STT State Street Corp. | Reduce -0.1% | 1.16% | +0.07 |
| GS Goldman Sachs Group Inc. | Reduce -0.0% | 2.08% | +0.10 |
| MS Morgan Stanley | Reduce -0.1% | 2.09% | +0.13 |
| CSCO Cisco Systems Inc. | Reduce -0.4% | 1.97% | +0.13 |
| AXP American Express Co. | Reduce -0.5% | 2.76% | +0.15 |
| BNS Bank of Nova Scotia | Reduce -2.2% | 2.88% | +0.18 |
| VTRS Viatris Inc. | Reduce -1.0% | 1.78% | +0.28 |
| GOOGL Alphabet Inc. Class A | Reduce -0.4% | 4.38% | +0.80 |
Portfolio Buys Q3 2025 → Q4 2025
| KMB Kimberly-Clark Corp. | New | 0.57% | +0.57 |
| RY Royal Bank of Canada | Add +0.8% | 5.02% | +0.52 |
| TD Toronto-Dominion Bank | Add +1.1% | 3.38% | +0.41 |
| RCI Rogers Communications Inc. Class B | Add +23.8% | 1.39% | +0.32 |
| CM Can Imperial BK of Commerce | Add +0.3% | 3.85% | +0.31 |
| CNI Canadian Natl Railway Co. | Add +15.0% | 2.18% | +0.29 |
| MFC Manulife Financial Corp. | Add +0.4% | 1.79% | +0.19 |
| SLF Sun Life Financial Inc. | Add +7.9% | 1.83% | +0.12 |
| JNJ Johnson & Johnson | Add +0.6% | 1.77% | +0.12 |
| TRP TC Energy Corp. | Add +6.6% | 2.54% | +0.08 |
| TSM Taiwan Semiconductor-SP ADR | Add +0.0% | 2.07% | +0.08 |
| FTS Fortis Inc. | New | 0.07% | +0.07 |
| URTH iShares MSCI World ETF | Add +25.8% | 0.30% | +0.05 |
| EFA iShares MSCI Eafe ETF | New | 0.05% | +0.05 |
| BAC Bank of America Corp. | New | 0.05% | +0.05 |
| LLY Eli Lilly & Co. | Add +2.0% | 0.18% | +0.05 |
| BHP BHP Group Ltd.-Spon ADR | New | 0.05% | +0.05 |
| CNQ Canadian Natural Resources | Add +2.9% | 0.88% | +0.04 |
| EWC iShares MSCI Canada ETF | Add +55.6% | 0.09% | +0.03 |
| AMZN Amazon.com Inc. | Add +0.7% | 2.43% | +0.02 |
| NTR Nutrien Ltd. | Add +1.0% | 1.54% | +0.02 |
| AAPL Apple Inc. | Add +0.2% | 1.04% | +0.02 |
| CVS CVS Health Corp. | Add +0.1% | 1.99% | +0.01 |
| WMT Walmart Inc. | Add +6.3% | 0.06% | +0.01 |
| ENB Enbridge Inc. | Add +2.8% | 0.05% | −0.00 |
| PG The Procter & Gamble Co. | Add +2.7% | 0.09% | −0.01 |
| COST Costco Wholesale Corp. | Add +3.1% | 0.09% | −0.01 |
| MCD McDonald's Corp. | Add +0.5% | 0.67% | −0.02 |
| BN Brookfield Corp. | Add +1.8% | 1.68% | −0.04 |
| V Visa Inc. Class A | Add +0.1% | 2.26% | −0.04 |
| ADBE Adobe Inc. | Add +0.4% | 1.20% | −0.06 |
| CP Canadian Pacific Kansas City | Add +1.8% | 1.88% | −0.07 |
| EA Electronic Arts Inc. | Add +0.1% | 2.32% | −0.08 |
| BMO Bank of Montreal | Add +1.3% | 2.95% | −0.11 |
| OTEX Open Text Corp. | Add +0.7% | 1.46% | −0.28 |
| SNN Smith & Nephew PLC -Spon ADR | Add +0.4% | 2.00% | −0.31 |
| META Meta Platforms Inc. Class A | Add +0.2% | 2.08% | −0.34 |
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 |