Skip to main content
Livermore
Livermore
ZHEN

Lincluden Management Ltd

SEC CIK
0001058231
Latest filing
Jul 24, 2026

Holdings in Q1 2025

Holdings as of Mar 31, 2025, filed May 6, 2025. Long positions only; changes compare share counts with Q4 2024.

Institution overview
Positions
72
−1 vs. Q4 2024
Portfolio value
$787.1M
−$39.0M (−4.7%) vs. Q4 2024
Filed
May 6, 2025
SEC
Holdings of Lincluden Management Ltd in Q1 2025
SecurityClassSharesValue% of portfolioShare changeActionHistory
TDToronto Dominion BankStock1,182,323$70.8M9.0%−4,789−0.4%ReducedHistory
RYRoyal Bank of CanadaStock543,347$61.2M7.8%−48,208−8.1%ReducedHistory
TRPTC Energy CorpCOM1,012,280$47.8M6.1%−42,127−4.0%ReducedHistory
BCEBce IncCOM NEW1,897,084$43.5M5.5%+281,128+17.4%AddedHistory
CNICanadian National Railway CoStock408,222$39.7M5.0%+45,635+12.6%AddedHistory
BNSBank of Nova ScotiaCOM782,054$37.1M4.7%−7,566−1.0%ReducedHistory
BNBROOKFIELD CorpCL A LTD VT SH626,558$32.8M4.2%−184,923−22.8%ReducedHistory
PBAPembina Pipeline CorpCOM759,407$30.4M3.9%−12,128−1.6%ReducedHistory
MFCManulife Financial CorpCOM957,725$29.8M3.8%−195,557−17.0%ReducedHistory
TUTelus CorpCOM1,942,592$27.9M3.5%−17,138−0.9%ReducedHistory
CMCanadian Imperial Bank of CommerceCOM442,363$24.9M3.2%−59,435−11.8%ReducedHistory
SUSuncor Energy IncStock618,260$23.9M3.0%−9,074−1.4%ReducedHistory
MGAMagna International IncCOM658,410$22.4M2.8%−3,251−0.5%ReducedHistory
BIPBrookfield Infrastructure Partners L.P.LP INT UNIT590,283$17.6M2.2%−9,456−1.6%ReducedHistory
QSRRestaurant Brands International Inc.COM255,340$17.0M2.2%+13,627+5.6%AddedHistory
BEPBrookfield Renewable Partners L.P.PARTNERSHIP UNIT681,909$15.1M1.9%−4,855−0.7%ReducedHistory
CSCOCisco Systems, Inc.Stock192,802$11.9M1.5%−33,517−14.8%ReducedHistory
VZVerizon Communications IncStock258,080$11.7M1.5%−7,269−2.7%ReducedHistory
PFEPfizer IncStock415,454$10.5M1.3%+29,617+7.7%AddedHistory
ORCLOracle CorpStock70,197$9.81M1.2%−782−1.1%ReducedHistory
AMTAmerican Tower CorpREIT40,576$8.83M1.1%+20,034+97.5%AddedHistory
GOOGLAlphabet Inc.Stock50,158$7.76M1.0%+187+0.4%AddedHistory
FRTFederal Realty Investment TrustSH BEN INT NEW79,000$7.73M1.0%+20,712+35.5%AddedHistory
MSFTMicrosoft CorpStock19,092$7.17M0.9%−448−2.3%ReducedHistory
FSVFirstService CorpCOM40,459$6.71M0.9%−1,208−2.9%ReducedHistory
USBUS Bancorp DECOM NEW148,899$6.29M0.8%−4,758−3.1%ReducedHistory
CIGIColliers International Group Inc.SUB VTG SHS51,611$6.25M0.8%+3,479+7.2%AddedHistory
DEODiageo PLCSPON ADR NEW58,498$6.13M0.8%+759+1.3%AddedHistory
BACBank of America CorpStock146,694$6.12M0.8%−6,939−4.5%ReducedHistory
JPMJPMorgan Chase & CoStock24,420$5.99M0.8%−779−3.1%ReducedHistory
KRKroger CoStock86,942$5.88M0.7%−39,082−31.0%ReducedHistory
HDHome Depot, Inc.Stock14,053$5.15M0.7%−406−2.8%ReducedHistory
CNCCentene CorpStock80,312$4.88M0.6%−3,871−4.6%ReducedHistory
INGING Groep NVSPONSORED ADR248,061$4.86M0.6%−63,586−20.4%ReducedHistory
RMRRMR Group Inc.CL A290,000$4.83M0.6%00.0%UnchangedHistory
GRTUFGranite Real Estate Investment TrustTR UNIT NEW101,364$4.72M0.6%+101,364NewHistory
WMTWalmart Inc.Stock53,005$4.65M0.6%+11,241+26.9%AddedHistory
COSTCostco Wholesale CorpStock4,858$4.59M0.6%−171−3.4%ReducedHistory
DISWalt Disney CoStock45,221$4.46M0.6%−721−1.6%ReducedHistory
GIBCgi IncCL A43,705$4.36M0.6%+7,403+20.4%AddedHistory
UNHUnitedHealth Group IncStock8,324$4.36M0.6%−215−2.5%ReducedHistory
EOGEOG Resources IncStock33,804$4.33M0.6%−380−1.1%ReducedHistory
MSMorgan StanleyStock36,741$4.29M0.5%−4,756−11.5%ReducedHistory
ORANYOrangeSPONSORED ADR284,920$3.69M0.5%−5,472−1.9%ReducedHistory
WELLWelltower Inc.REIT23,741$3.64M0.5%00.0%UnchangedHistory
Sanofi80108N105ADR64,477$3.58M0.5%−2,085−3.1%Reduced–
CNQCanadian Natural Resources LtdCOM112,909$3.48M0.4%+4,957+4.6%AddedHistory
GNTXGentex CorpCOM148,193$3.45M0.4%+9,821+7.1%AddedHistory
SHELShell plcADR44,874$3.29M0.4%+44,874NewHistory
CPTCamden Property TrustREIT26,832$3.28M0.4%00.0%UnchangedHistory
TSCOTractor Supply CoCOM59,348$3.27M0.4%−3,136−5.0%ReducedHistory
CCitigroup IncStock44,985$3.19M0.4%−2,258−4.8%ReducedHistory
TJXTJX Companies IncStock24,778$3.02M0.4%−867−3.4%ReducedHistory
GLWCorning IncCOM65,135$2.98M0.4%−1,260−1.9%ReducedHistory
COLDAmericold Realty TrustCOM138,224$2.97M0.4%+35,761+34.9%AddedHistory
GILGildan Activewear Inc.Stock63,702$2.82M0.4%+2,829+4.6%AddedHistory
AVBAvalonbay Communities IncCOM12,470$2.68M0.3%00.0%UnchangedHistory
BXPBXP, Inc.COM38,668$2.60M0.3%00.0%UnchangedHistory
EXRExtra Space Storage Inc.COM16,866$2.50M0.3%00.0%UnchangedHistory
VETVermilion Energy Inc.COM284,571$2.30M0.3%+11,708+4.3%AddedHistory
GSKGSK plcADR66,128$2.24M0.3%00.0%UnchangedHistory
JNJJohnson & JohnsonStock13,367$2.22M0.3%−544−3.9%ReducedHistory
RCIRogers Communications IncCL B79,507$2.12M0.3%+13,944+21.3%AddedHistory
EQIXEquinix IncCOM2,597$2.12M0.3%−1,746−40.2%ReducedHistory
TTETotalEnergies SESPONSORED ADS31,443$2.03M0.3%−1,545−4.7%ReducedHistory
BEPCBrookfield Renewable CorpCL A EX SUB VTG66,378$1.85M0.2%−2,030−3.0%ReducedHistory
TRNOTerreno Realty CorpCOM27,919$1.76M0.2%−16,998−37.8%ReducedHistory
SPGSimon Property Group Inc.REIT10,562$1.75M0.2%00.0%UnchangedHistory
SAPSAP SEADR5,170$1.39M0.2%−225−4.2%ReducedHistory
BAMBrookfield Asset Management Ltd.CL A LMT VTG SHS5,778$280.0K<0.1%00.0%UnchangedHistory
CVECenovus Energy Inc.COM19,800$275.0K<0.1%00.0%UnchangedHistory
BNTBrookfield Wealth Solutions Ltd.CL A EXCHANGEAB1,448$76.0K<0.1%00.0%UnchangedHistory

Sold out since Q4 2024 (3)

Positions held at the end of Q4 2024 that are gone from this filing.

Positions of Lincluden Management Ltd sold out since Q4 2024
SecurityClassShares in Q4 2024Value in Q4 2024% of portfolio in Q4 2024History
Granite Real Estate Invt Tr387437114UNIT 99/99/9999114,688$5.57M0.7%–
UDRUDR, Inc.COM81,365$3.53M0.4%History
WBAWalgreens Boots Alliance, Inc.COM264,093$2.46M0.3%History