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Livermore
Livermore
ZHEN

Lincluden Management Ltd

SEC CIK
0001058231
Latest filing
Jul 24, 2026

Holdings in Q1 2023

Holdings as of Mar 31, 2023, filed May 12, 2023. Long positions only; changes compare share counts with Q4 2022.

Institution overview
Positions
75
+4 vs. Q4 2022
Portfolio value
$857.6M
+$14.0M (+1.7%) vs. Q4 2022
Filed
May 12, 2023
SEC
Holdings of Lincluden Management Ltd in Q1 2023
SecurityClassSharesValue% of portfolioShare changeActionHistory
TDToronto Dominion BankStock1,292,753$77.2M9.0%+76,503+6.3%AddedHistory
RYRoyal Bank of CanadaStock806,853$77.0M9.0%+12,159+1.5%AddedHistory
BCEBce IncCOM NEW1,146,764$51.2M6.0%+217,422+23.4%AddedHistory
BNSBank of Nova ScotiaCOM959,909$48.2M5.6%+25,303+2.7%AddedHistory
CMCanadian Imperial Bank of CommerceCOM915,132$38.7M4.5%+13,261+1.5%AddedHistory
BNBROOKFIELD CorpCL A LTD VT SH1,135,500$36.9M4.3%+278,675+32.5%AddedHistory
MGAMagna International IncCOM639,257$34.2M4.0%+28,102+4.6%AddedHistory
TRPTC Energy CorpCOM880,055$34.1M4.0%+815,761+1,268.8%AddedHistory
CNICanadian National Railway CoStock281,323$33.1M3.9%−819−0.3%ReducedHistory
MFCManulife Financial CorpCOM1,730,885$31.7M3.7%−60,301−3.4%ReducedHistory
PBAPembina Pipeline CorpCOM961,750$31.1M3.6%−55,518−5.5%ReducedHistory
TUTelus CorpCOM1,485,603$29.4M3.4%−7430.0%ReducedHistory
QSRRestaurant Brands International Inc.COM423,406$28.4M3.3%−99,179−19.0%ReducedHistory
SUSuncor Energy IncStock837,856$25.9M3.0%+15,602+1.9%AddedHistory
RCIRogers Communications IncCL B490,232$22.7M2.6%−523,083−51.6%ReducedHistory
ORCLOracle CorpStock130,855$12.2M1.4%−3,565−2.7%ReducedHistory
PFEPfizer IncStock277,332$11.3M1.3%−1,200−0.4%ReducedHistory
CSCOCisco Systems, Inc.Stock210,919$11.0M1.3%−3,019−1.4%ReducedHistory
VZVerizon Communications IncStock275,117$10.7M1.2%−4,947−1.8%ReducedHistory
Granite Real Estate Invt Tr387437114UNIT 99/99/9999143,652$8.87M1.0%+13,238+10.2%Added–
FSVFirstService CorpCOM58,348$8.20M1.0%−7,538−11.4%ReducedHistory
Tricon Residential Inc Com NPV89612W102COM1,059,428$8.20M1.0%+334,790+46.2%Added–
RMRRMR Group Inc.CL A290,000$7.61M0.9%00.0%UnchangedHistory
WBAWalgreens Boots Alliance, Inc.COM219,505$7.59M0.9%−566−0.3%ReducedHistory
GIBCgi IncCL A75,039$7.21M0.8%−1,710−2.2%ReducedHistory
USBUS Bancorp DECOM NEW185,537$6.69M0.8%+3,292+1.8%AddedHistory
CNQCanadian Natural Resources LtdCOM111,991$6.18M0.7%+111,991NewHistory
GOOGLAlphabet Inc.Stock59,256$6.15M0.7%−1,855−3.0%ReducedHistory
GSKGSK plcADR170,800$6.08M0.7%+164+0.1%AddedHistory
FRTFederal Realty Investment TrustSH BEN INT NEW59,937$5.92M0.7%−1,637−2.7%ReducedHistory
KRKroger CoStock113,246$5.59M0.7%−5,057−4.3%ReducedHistory
MSFTMicrosoft CorpStock19,149$5.52M0.6%−602−3.0%ReducedHistory
CNCCentene CorpStock83,300$5.26M0.6%−2,224−2.6%ReducedHistory
DGDollar General CorpCOM24,043$5.06M0.6%+7,750+47.6%AddedHistory
EOGEOG Resources IncStock38,665$4.43M0.5%+16,696+76.0%AddedHistory
AVBAvalonbay Communities IncCOM26,107$4.39M0.5%+6,410+32.5%AddedHistory
INGING Groep NVSPONSORED ADR366,859$4.36M0.5%−16,174−4.2%ReducedHistory
CPTCamden Property TrustREIT39,776$4.17M0.5%00.0%UnchangedHistory
BACBank of America CorpStock145,451$4.16M0.5%−1,479−1.0%ReducedHistory
AMTAmerican Tower CorpREIT20,184$4.12M0.5%+9,965+97.5%AddedHistory
EXRExtra Space Storage Inc.COM24,335$3.96M0.5%+24,335NewHistory
HDHome Depot, Inc.Stock12,597$3.72M0.4%+12,597NewHistory
VETVermilion Energy Inc.COM286,099$3.70M0.4%+216,053+308.4%AddedHistory
GNTXGentex CorpCOM131,151$3.68M0.4%+131,151NewHistory
DISWalt Disney CoStock36,687$3.67M0.4%−674−1.8%ReducedHistory
TRNOTerreno Realty CorpCOM54,865$3.54M0.4%−11,824−17.7%ReducedHistory
COSTCostco Wholesale CorpStock7,075$3.52M0.4%+1,727+32.3%AddedHistory
GLWCorning IncCOM99,247$3.50M0.4%−4,701−4.5%ReducedHistory
ORANYOrangeSPONSORED ADR280,634$3.35M0.4%−10,359−3.6%ReducedHistory
SPGSimon Property Group Inc.REIT29,726$3.33M0.4%00.0%UnchangedHistory
DLTRDollar Tree, Inc.COM22,990$3.30M0.4%−17,371−43.0%ReducedHistory
WMTWalmart Inc.Stock22,115$3.26M0.4%−822−3.6%ReducedHistory
Sanofi80108N105ADR59,691$3.25M0.4%−1,458−2.4%Reduced–
MSMorgan StanleyStock36,565$3.21M0.4%−1,344−3.5%ReducedHistory
VODVodafone Group Public Ltd CoADR289,475$3.20M0.4%−12,068−4.0%ReducedHistory
TSCOTractor Supply CoCOM12,378$2.91M0.3%−192−1.5%ReducedHistory
CIGIColliers International Group Inc.SUB VTG SHS26,284$2.77M0.3%00.0%UnchangedHistory
TJXTJX Companies IncStock34,423$2.70M0.3%−1,263−3.5%ReducedHistory
COLDAmericold Realty TrustCOM94,776$2.70M0.3%00.0%UnchangedHistory
BAMBrookfield Asset Management Ltd.CL A LMT VTG SHS71,137$2.32M0.3%−143,153−66.8%ReducedHistory
HLNHaleon plcADR284,148$2.31M0.3%−4,324−1.5%ReducedHistory
JNJJohnson & JohnsonStock14,758$2.29M0.3%−540−3.5%ReducedHistory
CCitigroup IncStock47,429$2.22M0.3%−1,007−2.1%ReducedHistory
AREAlexandria Real Estate Equities, Inc.COM16,100$2.02M0.2%00.0%UnchangedHistory
SUISun Communities IncCOM14,151$1.99M0.2%−6,888−32.7%ReducedHistory
WELLWelltower Inc.REIT27,371$1.96M0.2%−12,511−31.4%ReducedHistory
TTETotalEnergies SESPONSORED ADS33,201$1.96M0.2%−1,193−3.5%ReducedHistory
BMOBank of MontrealCOM21,596$1.92M0.2%00.0%UnchangedHistory
EQIXEquinix IncCOM2,099$1.51M0.2%00.0%UnchangedHistory
JPMJPMorgan Chase & CoStock10,184$1.33M0.2%−631−5.8%ReducedHistory
SAPSAP SEADR10,010$1.27M0.1%−619−5.8%ReducedHistory
CVECenovus Energy Inc.COM19,800$345.0K<0.1%−113,943−85.2%ReducedHistory
BEPCBrookfield Renewable CorpCL A SUB VTG933$32.0K<0.1%+933NewHistory
ABSTAbsolute Software CorpCOM2,914$22.7K<0.1%+1,187+68.7%AddedHistory
AVGOBroadcom Inc.Stock10$6.00K<0.1%+10NewHistory

Sold out since Q4 2022 (2)

Positions held at the end of Q4 2022 that are gone from this filing.

Positions of Lincluden Management Ltd sold out since Q4 2022
SecurityClassShares in Q4 2022Value in Q4 2022% of portfolio in Q4 2022History
ENBEnbridge IncStock698,846$27.3M3.2%History
Brookfield Business Partners LtdBYNDNQ000UNIT LP739$13.0K<0.1%–