Skip to main content
Livermore
Livermore
ZHEN

Lincluden Management Ltd

SEC CIK
0001058231
Latest filing
Jul 24, 2026

Holdings in Q3 2025

Holdings as of Sep 30, 2025, filed Nov 14, 2025. Long positions only; changes compare share counts with Q2 2025.

Institution overview
Positions
69
−8 vs. Q2 2025
Portfolio value
$898.3M
−$7.12M (−0.8%) vs. Q2 2025
Filed
Nov 14, 2025
SEC
Holdings of Lincluden Management Ltd in Q3 2025
SecurityClassSharesValue% of portfolioShare changeActionHistory
TDToronto Dominion BankStock906,632$72.1M8.0%−94,507−9.4%ReducedHistory
RYRoyal Bank of CanadaStock443,782$65.0M7.2%−51,926−10.5%ReducedHistory
BCEBce IncCOM NEW1,947,511$45.2M5.0%+89,824+4.8%AddedHistory
BNSBank of Nova ScotiaCOM698,397$44.9M5.0%−66,463−8.7%ReducedHistory
TRPTC Energy CorpCOM825,906$44.6M5.0%−61,696−7.0%ReducedHistory
QSRRestaurant Brands International Inc.COM484,125$43.2M4.8%+21,167+4.6%AddedHistory
CNICanadian National Railway CoStock434,344$40.7M4.5%+17,257+4.1%AddedHistory
PBAPembina Pipeline CorpCOM927,892$37.3M4.2%+68,013+7.9%AddedHistory
BNBROOKFIELD CorpCL A LTD VT SH529,379$36.1M4.0%−61,836−10.5%ReducedHistory
NTRNutrien Ltd.COM541,282$31.6M3.5%−50,746−8.6%ReducedHistory
MGAMagna International IncCOM669,153$31.5M3.5%−51,954−7.2%ReducedHistory
CMCanadian Imperial Bank of CommerceCOM385,862$30.7M3.4%−47,282−10.9%ReducedHistory
MFCManulife Financial CorpCOM861,530$26.7M3.0%−76,800−8.2%ReducedHistory
TUTelus CorpCOM1,660,506$26.0M2.9%−251,973−13.2%ReducedHistory
SUSuncor Energy IncStock557,712$23.2M2.6%−47,877−7.9%ReducedHistory
CNQCanadian Natural Resources LtdCOM700,082$22.3M2.5%−48,220−6.4%ReducedHistory
BEPBrookfield Renewable Partners L.P.PARTNERSHIP UNIT601,344$15.4M1.7%−62,108−9.4%ReducedHistory
VZVerizon Communications IncStock254,696$11.2M1.2%−833−0.3%ReducedHistory
GOOGLAlphabet Inc.Stock43,831$10.7M1.2%−6,038−12.1%ReducedHistory
PFEPfizer IncStock412,028$10.5M1.2%−1,530−0.4%ReducedHistory
CSCOCisco Systems, Inc.Stock147,274$10.1M1.1%−45,009−23.4%ReducedHistory
MSFTMicrosoft CorpStock18,694$9.68M1.1%−101−0.5%ReducedHistory
LENLennar CorpCL A66,066$8.33M0.9%+66,066NewHistory
AMTAmerican Tower CorpREIT41,175$7.92M0.9%+775+1.9%AddedHistory
FSVFirstService CorpCOM41,080$7.78M0.9%−2,390−5.5%ReducedHistory
SAPSAP SEADR27,439$7.33M0.8%+22,333+437.4%AddedHistory
TMOThermo Fisher Scientific Inc.Stock14,749$7.15M0.8%+1,121+8.2%AddedHistory
BACBank of America CorpStock138,471$7.14M0.8%−826−0.6%ReducedHistory
USBUS Bancorp DECOM NEW145,272$7.02M0.8%−1,000−0.7%ReducedHistory
JJacobs Solutions Inc.COM42,445$6.36M0.7%+5,443+14.7%AddedHistory
CIGIColliers International Group Inc.SUB VTG SHS40,891$6.36M0.7%+2,464+6.4%AddedHistory
GRTUFGranite Real Estate Investment TrustTR UNIT NEW112,144$6.19M0.7%00.0%UnchangedHistory
JPMJPMorgan Chase & CoStock19,098$6.02M0.7%−92−0.5%ReducedHistory
INGING Groep NVSPONSORED ADR227,259$5.93M0.7%−10,781−4.5%ReducedHistory
HDHome Depot, Inc.Stock13,794$5.59M0.6%−89−0.6%ReducedHistory
DEODiageo PLCSPON ADR NEW57,835$5.52M0.6%−191−0.3%ReducedHistory
WMTWalmart Inc.Stock52,164$5.38M0.6%−521−1.0%ReducedHistory
GLWCorning IncCOM63,998$5.25M0.6%−381−0.6%ReducedHistory
MSMorgan StanleyStock32,146$5.11M0.6%−240−0.7%ReducedHistory
COSTCostco Wholesale CorpStock5,432$5.03M0.6%+657+13.8%AddedHistory
UNHUnitedHealth Group IncStock14,322$4.95M0.6%−86−0.6%ReducedHistory
EOGEOG Resources IncStock40,739$4.57M0.5%+7,519+22.6%AddedHistory
EQIXEquinix IncCOM2,585$4.57M0.5%00.0%UnchangedHistory
RMRRMR Group Inc.CL A290,000$4.56M0.5%00.0%UnchangedHistory
CCitigroup IncStock43,968$4.46M0.5%−292−0.7%ReducedHistory
GIBCgi IncCL A50,371$4.46M0.5%+7,921+18.7%AddedHistory
WELLWelltower Inc.REIT23,650$4.21M0.5%00.0%UnchangedHistory
GNTXGentex CorpCOM146,168$4.14M0.5%−929−0.6%ReducedHistory
ULTAUlta Beauty, Inc.Stock7,342$4.01M0.4%−49−0.7%ReducedHistory
FRTFederal Realty Investment TrustSH BEN INT NEW39,591$4.01M0.4%−39,034−49.6%ReducedHistory
Sanofi80108N105ADR80,117$3.78M0.4%+16,725+26.4%Added–
GILGildan Activewear Inc.Stock63,594$3.65M0.4%+620+1.0%AddedHistory
TRNOTerreno Realty CorpCOM62,157$3.53M0.4%+20,906+50.7%AddedHistory
RCIRogers Communications IncCL B101,894$3.49M0.4%+1,083+1.1%AddedHistory
DISWalt Disney CoStock29,947$3.43M0.4%−8,874−22.9%ReducedHistory
TSCOTractor Supply CoCOM58,363$3.32M0.4%−317−0.5%ReducedHistory
TJXTJX Companies IncStock22,649$3.27M0.4%−186−0.8%ReducedHistory
SHELShell plcADR43,956$3.14M0.4%−182−0.4%ReducedHistory
SUISun Communities IncCOM22,478$2.90M0.3%00.0%UnchangedHistory
AVBAvalonbay Communities IncCOM14,565$2.81M0.3%+2,132+17.1%AddedHistory
GSKGSK plcADR61,480$2.65M0.3%−540−0.9%ReducedHistory
JNJJohnson & JohnsonStock12,950$2.40M0.3%−148−1.1%ReducedHistory
EXRExtra Space Storage Inc.COM16,794$2.37M0.3%00.0%UnchangedHistory
BEPCBrookfield Renewable CorpCL A EX SUB VTG62,884$2.15M0.2%−124−0.2%ReducedHistory
SPGSimon Property Group Inc.REIT10,519$1.97M0.2%00.0%UnchangedHistory
KBHKB HomeCOM30,884$1.97M0.2%+30,884NewHistory
TTETotalEnergies SESPONSORED ADS30,745$1.83M0.2%−189−0.6%ReducedHistory
BXPBXP, Inc.COM21,246$1.58M0.2%00.0%UnchangedHistory
BNTBrookfield Wealth Solutions Ltd.CL A EXCHANGEAB959$65.0K<0.1%−158−14.1%ReducedHistory

Sold out since Q2 2025 (10)

Positions held at the end of Q2 2025 that are gone from this filing.

Positions of Lincluden Management Ltd sold out since Q2 2025
SecurityClassShares in Q2 2025Value in Q2 2025% of portfolio in Q2 2025History
BIPBrookfield Infrastructure Partners L.P.LP INT UNIT576,851$19.3M2.1%History
ORCLOracle CorpStock52,460$11.5M1.3%History
CNCCentene CorpStock78,973$4.29M0.5%History
ORANYOrangeSPONSORED ADR238,840$3.62M0.4%History
CPTCamden Property TrustREIT26,705$3.01M0.3%History
KRKroger CoStock30,610$2.20M0.2%History
VETVermilion Energy Inc.COM278,465$2.03M0.2%History
COLDAmericold Realty TrustCOM77,246$1.28M0.1%History
CVECenovus Energy Inc.COM19,800$323.0K<0.1%History
BAMBrookfield Asset Management Ltd.CL A LMT VTG SHS5,778$319.0K<0.1%History