LINCLUDEN MANAGEMENT LTD

CIK

1058231

Location

MISSISSAUGA, A6

Portfolio Value

Small $764,205,403

Diversification

Diversified

Filing Date

Global Rank

#2,246 / 8,633 ▼ 327

Top Industry

Banks - Diversified 28.9%

3Y Alpha vs SPY

-3.1%

Period ended 51 days ago

Filed Jul 24, 2026 · 27d

26 quarters · since Mar 2020

Clone Performance

Aug 2023–Aug 2026 · vs SPY

Hypothetical growth of buying every stock this filer reported holding, rebalancing on each filing and indexed to the same start. Option positions cannot be bought this way and are left out.

Cloned portfolio

+62.7%

SPY

+76.2%

Annualised alpha

-3.2%

Max drawdown

−15.1%

Estimate. 13F holdings are quarter-lagged, so the clone rebalances about 45 days after each period end — when the filing becomes public — and it excludes option and short positions. Returns use comparable raw closes and exclude dividends; a captured split can shorten the simulated window. It tracks 100% of reported value on average across 13 quarters. Past performance does not predict future results.

Portfolio Concentration

67 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

8.7%

+1.3 pts

Top 5

32.6%

+2.5 pts

Top 10

49.7%

−0.7 pts

HHI

357

Diversified+2

Portfolio Trend

26 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Financial Services	37.1%	$283,761,667	14
Energy	12.2%	$93,162,651	5
Communication Services	9.9%	$75,566,353	6
Consumer Cyclical	8.7%	$66,772,489	8
Real Estate	7.3%	$55,869,888	14
Technology	6.3%	$48,221,922	6
Industrials	6.2%	$47,721,774	2
Healthcare	4.0%	$30,440,803	5
Utilities	3.3%	$24,922,205	3
Basic Materials	2.6%	$20,163,703	1
Consumer Defensive	2.3%	$17,601,948	3

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

23 positions

Ticker	Company	Δ Shares	Shares	Value
TSCO	Tractor Supply Co /De/	+72,186	128,430	$4,059,672
GIB	Cgi Inc	+70,443	417,469	$26,955,973
BIPH	Brookfield Infrastructure Partners L.P.	+25,485	662,686	$10,218,618
AHR	American Healthcare REIT, Inc.	+19,757	54,797	$2,857,663
J	Jacobs Solutions Inc.	+18,878	72,023	$9,074,898
SHEL	Shell plc	+17,914	50,952	$3,950,818
DIS	Walt Disney Co	+16,148	51,540	$4,960,725
BGSI	Boyd Group Services Inc.	+12,197	41,310	$3,908,752
GIL	Gildan Activewear Inc.	+7,935	59,218	$3,055,648
AMT	American Tower Corp /Ma/	+5,988	47,493	$7,768,430
HD	Home Depot, Inc.	+2,655	15,878	$5,599,853
TMO	Thermo Fisher Scientific Inc.	+2,366	16,787	$8,416,330
V	Visa Inc.	+2,344	25,560	$8,769,380
FSV	FirstService Corp	+2,327	66,993	$9,520,375
CIGI	Colliers International Group Inc.	+2,150	54,765	$5,136,409
BAC	Bank Of America Corp /De/	+816	133,646	$7,615,149
USB	US Bancorp De	+461	139,095	$8,401,338
JPM	Jpmorgan Chase & Co	+260	18,711	$6,124,671
MSFT	Microsoft Corp	+89	22,093	$8,241,130
EOG	Eog Resources Inc	+63	39,024	$5,062,583
COST	Costco Wholesale Corp /New	+48	5,345	$5,000,087
UNH	Unitedhealth Group Inc	+34	22,589	$9,388,666
GOOGL	Alphabet Inc.	+14	33,228	$11,874,690
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
BCE	Bce Inc	−398,067	1,445,763	$31,098,362
BN	BROOKFIELD Corp /ON/	−247,835	439,774	$18,729,974
MFC	Manulife Financial Corp	−209,690	479,103	$19,408,462
TD	Toronto Dominion Bank	−163,556	526,877	$63,978,674
TRP	Tc Energy Corp	−161,784	605,977	$40,170,215
TU	Telus Corp	−151,713	1,951,523	$20,627,598
BEP	Brookfield Renewable Partners L.P.	−150,364	422,025	$14,656,928
CNQ	CANADIAN NATURAL RESOURCES Ltd	−139,144	557,895	$22,036,852
MGA	Magna International Inc	−126,695	266,320	$17,486,571
BNS	Bank Of Nova Scotia	−118,625	458,826	$39,844,449
NTR	Nutrien Ltd.	−114,665	320,313	$20,163,703
SU	Suncor Energy Inc	−104,392	408,759	$21,942,183
PFE	Pfizer Inc	−99,218	302,092	$7,274,375
QSR	Restaurant Brands International Inc.	−95,892	357,508	$25,922,905
RY	Royal Bank Of Canada	−87,771	319,503	$66,127,535
CNI	Canadian National Railway Co	−80,154	324,110	$38,646,876
VZ	Verizon Communications Inc	−77,450	108,554	$4,596,176
CSCO	Cisco Systems, Inc.	−74,965	69,320	$8,142,327
CM	Canadian Imperial Bank Of Commerce /Can/	−73,367	220,139	$25,315,985
GLW	Corning Inc /Ny	−33,542	599	$153,002
BAM	Brookfield Asset Management Ltd.	−26,904	43,179	$1,936,578
DEO	Diageo PLC	−19,012	95,951	$7,712,541
SAP	Sap SE	−14,471	15,362	$2,367,437
ING	Ing Groep NV	−8,937	209,457	$6,572,760
C	Citigroup Inc	−5,656	36,613	$5,124,355
No positions match the current search.

New Positions

Positions the filer opened this quarter

2 positions

Ticker	Company	Shares	Value
DSGX	Descartes Systems Group Inc	34,114	$2,362,053
MAA	Mid America Apartment Communities Inc.	10,722	$1,489,714
No positions match the current search.

Sold Out

Positions the filer fully exited

3 positions

Ticker	Company	Shares	Value
PBA	Pembina Pipeline Corp	999,523	$44,738,649
GRTUF	Granite Real Estate Investment Trust	104,627	$6,136,373
SUI	Sun Communities Inc	12,496	$1,573,996
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

67 tracked positions · $764,205,403 total · as of Jun 30, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 67 positions by value · page 1 of 2

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
RY	Royal Bank Of Canada Financial Services	Reduced	319,503	-87,771	$66,127,535	+0.4%	8.65%
TD	Toronto Dominion Bank Financial Services	Reduced	526,877	-163,556	$63,978,674	−0.7%	8.37%
TRP	Tc Energy Corp Energy	Reduced	605,977	-161,784	$40,170,215	−16.4%	5.26%
BNS	Bank Of Nova Scotia Financial Services	Reduced	458,826	-118,625	$39,844,449	−0.4%	5.21%
CNI	Canadian National Railway Co Industrials	Reduced	324,110	-80,154	$38,646,876	−7.0%	5.06%
BCE	Bce Inc Communication Services	Reduced	1,445,763	-398,067	$31,098,362	−33.2%	4.07%
GIB	Cgi Inc Technology	Added	417,469	+70,443	$26,955,973	+6.3%	3.53%
QSR	Restaurant Brands International Inc. Consumer Cyclical	Reduced	357,508	-95,892	$25,922,905	−22.6%	3.39%
CM	Canadian Imperial Bank Of Commerce /Can/ Financial Services	Reduced	220,139	-73,367	$25,315,985	−9.0%	3.31%
CNQ	CANADIAN NATURAL RESOURCES Ltd Energy	Reduced	557,895	-139,144	$22,036,852	−35.1%	2.88%
SU	Suncor Energy Inc Energy	Reduced	408,759	-104,392	$21,942,183	−35.3%	2.87%
TU	Telus Corp Communication Services	Reduced	1,951,523	-151,713	$20,627,598	−23.6%	2.70%
NTR	Nutrien Ltd. Basic Materials	Reduced	320,313	-114,665	$20,163,703	−38.6%	2.64%
MFC	Manulife Financial Corp Financial Services	Reduced	479,103	-209,690	$19,408,462	−18.2%	2.54%
BN	BROOKFIELD Corp /ON/ Financial Services	Reduced	439,774	-247,835	$18,729,974	−32.7%	2.45%
MGA	Magna International Inc Consumer Cyclical	Reduced	266,320	-126,695	$17,486,571	−20.3%	2.29%
BEP	Brookfield Renewable Partners L.P. Utilities	Reduced	422,025	-150,364	$14,656,928	−21.5%	1.92%
GOOGL	Alphabet Inc. Communication Services	Added	33,228	+14	$11,874,690	+24.3%	1.55%
BIPH	Brookfield Infrastructure Partners L.P. Utilities	Added	662,686	+25,485	$10,218,618	+43679.7%	1.34%
FSV	FirstService Corp Real Estate	Added	66,993	+2,327	$9,520,375	+6.0%	1.25%
UNH	Unitedhealth Group Inc Healthcare	Added	22,589	+34	$9,388,666	+53.8%	1.23%
J	Jacobs Solutions Inc. Industrials	Added	72,023	+18,878	$9,074,898	+34.2%	1.19%
V	Visa Inc. Financial Services	Added	25,560	+2,344	$8,769,380	+25.0%	1.15%
TMO	Thermo Fisher Scientific Inc. Healthcare	Added	16,787	+2,366	$8,416,330	+18.7%	1.10%
USB	US Bancorp De Financial Services	Added	139,095	+461	$8,401,338	+16.5%	1.10%
MSFT	Microsoft Corp Technology	Added	22,093	+89	$8,241,130	+1.2%	1.08%
CSCO	Cisco Systems, Inc. Technology	Reduced	69,320	-74,965	$8,142,327	−27.3%	1.07%
AMT	American Tower Corp /Ma/ Real Estate	Added	47,493	+5,988	$7,768,430	+8.5%	1.02%
DEO	Diageo PLC Consumer Defensive	Reduced	95,951	-19,012	$7,712,541	−9.9%	1.01%
BAC	Bank Of America Corp /De/ Financial Services	Added	133,646	+816	$7,615,149	+17.6%	1.00%
PFE	Pfizer Inc Healthcare	Reduced	302,092	-99,218	$7,274,375	−35.4%	0.95%
ING	Ing Groep NV Financial Services	Reduced	209,457	-8,937	$6,572,760	+15.5%	0.86%
JPM	Jpmorgan Chase & Co Financial Services	Added	18,711	+260	$6,124,671	+12.8%	0.80%
RMR	Rmr Group Inc. Real Estate	Held	290,000	0	$5,953,700	+32.7%	0.78%
MS	Morgan Stanley Financial Services	Reduced	27,805	-474	$5,812,357	+24.9%	0.76%
HD	Home Depot, Inc. Consumer Cyclical	Added	15,878	+2,655	$5,599,853	+28.8%	0.73%
CIGI	Colliers International Group Inc. Real Estate	Added	54,765	+2,150	$5,136,409	−8.7%	0.67%
C	Citigroup Inc Financial Services	Reduced	36,613	-5,656	$5,124,355	+6.9%	0.67%
EOG	Eog Resources Inc Energy	Added	39,024	+63	$5,062,583	−10.1%	0.66%
COST	Costco Wholesale Corp /New Consumer Defensive	Added	5,345	+48	$5,000,087	−5.3%	0.65%
DIS	Walt Disney Co Communication Services	Added	51,540	+16,148	$4,960,725	+45.4%	0.65%
WMT	Walmart Inc. Consumer Defensive	Reduced	43,169	-682	$4,889,320	−10.3%	0.64%
VZ	Verizon Communications Inc Communication Services	Reduced	108,554	-77,450	$4,596,176	−50.8%	0.60%
FRT	Federal Realty Investment Trust Real Estate	Held	36,888	0	$4,553,454	+16.2%	0.60%
EQIX	Equinix Inc Real Estate	Held	3,971	0	$4,139,330	+6.3%	0.54%
TRNO	Terreno Realty Corp Real Estate	Held	63,499	0	$4,112,830	+5.5%	0.54%
WELL	Welltower Inc. Real Estate	Held	17,970	0	$4,078,650	+14.8%	0.53%
TSCO	Tractor Supply Co /De/ Consumer Cyclical	Added	128,430	+72,186	$4,059,672	+59.3%	0.53%
SHEL	Shell plc Energy	Added	50,952	+17,914	$3,950,818	+28.6%	0.52%
BGSI	Boyd Group Services Inc. Consumer Cyclical	Added	41,310	+12,197	$3,908,752	+5.0%	0.51%

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.