Cardinal Capital Management, Inc.
CIK 1518235 · View on SEC EDGAR ↗
- Portfolio value
- $3.6B
- Positions
- 66
- As of
- March 31, 2026 Data as of Q1 2026
#1,011 of 9,443 by 13F value · top 10.7%
Portfolio value QoQ: -18.2% 13F does not disclose cash
- Top 10 holdings weight
- 43.75%
- Top 25 holdings weight
- 79.20%
- Positions above 1%
- 26
- Effective number of positions
- 32.2
Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)
Turnover Q1 2026: 2.65% Est. buys $420,138,316 · sells $107,308,273
Median holding: 6.0 quarters Tracked Q4 2024–Q1 2026 · 79.5% still held
- New positions
- 3
- Increased
- 48
- Decreased
- 11
- Closed
- 6
On this page
- Sector breakdown How the portfolio splits across market sectors.
- Portfolio Every stock this institution reports holding, from its latest 13F.
- High-conviction bets The holdings this manager is most concentrated in.
- Biggest new bets Brand-new positions opened in the latest quarter.
- Top moves The biggest position increases and decreases this quarter.
- Exited positions Positions the manager fully sold out of last quarter.
Sector breakdown
Financials
23.6%
Energy
16.2%
Industrials
11.2%
Technology
5.4%
Consumer Discretionary
4.9%
Healthcare
3.7%
Financial Services
3.5%
Utilities
2.4%
Materials
2.0%
Telecommunication
1.1%
Retail
0.9%
Consumer products
0.7%
Real Estate
0.5%
Other/Unmapped
24.0%
Full portfolio 66 positions
| Type | Streak | 8Q trend | |||||
|---|---|---|---|---|---|---|---|
| SU Suncor Energy Inc. Common Stock | $231,449,685 | 6.36% | 3,510,340 | $18,207,334 | Up ×1 | ||
| SAPIF | $174,001,040 | 4.78% | 5,587,163 | $-54,023,137 | Up ×1 | ||
| MFC Manulife Financial Corporation Common Stock | $160,543,964 | 4.41% | 4,675,188 | $-67,215,269 | Up ×1 | ||
| TRP TC Energy Corporation Common Stock | $158,222,772 | 4.35% | 2,534,676 | $-21,877,944 | Up ×1 | ||
| PBA Pembina Pipeline Corp. Ordinary Shares (Canada) | $157,779,109 | 4.33% | 3,535,899 | $-13,434,442 | Up ×5 | ||
| CM Canadian Imperial Bank of Commerce Common Stock | $147,101,340 | 4.04% | 1,557,036 | $-69,016,418 | Down ×5 | ||
| RY Royal Bank Of Canada Common Stock | $144,349,034 | 3.97% | 895,739 | $-61,358,129 | Up ×1 | ||
| GIL Gildan Activewear, Inc. Class A Sub. Vot. Common Stock | $143,567,854 | 3.94% | 2,586,145 | $-74,672,718 | Up ×1 | ||
| BNS Bank Nova Scotia Halifax Pfd 3 Ordinary Shares | $139,841,417 | 3.84% | 2,022,859 | $-62,380,593 | Up ×1 | ||
| BMO Bank Of Montreal Common Stock | $135,631,135 | 3.73% | 1,004,527 | $-40,567,564 | Up ×1 | ||
| CDNAF | $134,532,095 | 3.70% | 1,003,524 | $-36,920,737 | Up ×1 | ||
| CP Canadian Pacific Kansas City Limited Common Shares | $130,999,320 | 3.60% | 1,669,924 | $-25,583,315 | Up ×5 | ||
| BN Brookfield Corporation Class A Limited Voting Shares | $127,925,163 | 3.51% | 3,166,889 | $-66,034,518 | Up ×2 | ||
| CNI Canadian National Railway Company Common Stock | $121,631,000 | 3.34% | 1,185,461 | $-10,637,014 | Up ×5 | ||
| CCDBF | $118,808,525 | 3.26% | 1,902,215 | ||||
| Unknown issuer (CUSIP: 45823T106) | $114,010,953 | 3.13% | 631,157 | $-38,760,878 | Up ×3 | ||
| NTIOF | $97,899,266 | 2.69% | 758,948 | ||||
| Unknown issuer (CUSIP: 286181201) | $86,228,967 | 2.37% | 3,988,477 | $-42,356,841 | Up ×1 | ||
| SLF Sun Life Financial Inc. Common Stock | $69,168,722 | 1.90% | 1,107,571 | $-22,878,503 | Up ×1 | ||
| AMAT Applied Materials, Inc. - Common Stock | $64,147,831 | 1.76% | 187,682 | $-7,359,895 | Down ×2 | ||
| ABBV AbbVie Inc. Common Stock | $54,919,052 | 1.51% | 252,513 | $-5,207,977 | Up ×1 | ||
| CMI Cummins Inc. Common Stock | $51,675,207 | 1.42% | 96,047 | $-15,454,214 | Up ×1 | ||
| TMUS T-Mobile US, Inc. - Common Stock | $40,872,468 | 1.12% | 194,603 | $-8,354,005 | Up ×3 | ||
| NEE NextEra Energy, Inc. Common Stock | $40,366,948 | 1.11% | 434,614 | $-7,276,420 | Up ×1 | ||
| APD Air Products and Chemicals, Inc. Common Stock | $37,401,459 | 1.03% | 128,753 | $-4,709,857 | Up ×3 | ||
| WFC Wells Fargo & Company Common Stock | $36,836,343 | 1.01% | 462,710 | $-20,759,846 | Up ×1 | ||
| NTR Nutrien Ltd. Common Shares | $35,660,710 | 0.98% | 473,902 | $-8,928,019 | Down ×4 | ||
| TSM Taiwan Semiconductor Manufacturing Company Ltd. | $35,397,221 | 0.97% | 104,741 | $-5,790,917 | Up ×2 | ||
| SIEGY | $35,109,362 | 0.96% | 288,065 | $-18,194,306 | Up ×1 | ||
| BKNG Booking Holdings Inc. - Common Stock | $33,867,814 | 0.93% | 8,044 | $-18,341,140 | Up ×3 | ||
| ETR Entergy Corporation Common Stock | $33,595,640 | 0.92% | 299,000 | $14,806,613 | Up ×2 | ||
| SBGSY | $32,882,306 | 0.90% | 604,121 | $-9,831,801 | Up ×5 | ||
| URI United Rentals, Inc. Common Stock | $32,422,377 | 0.89% | 44,502 | $-13,953,098 | Up ×5 | ||
| HON Honeywell International Inc. - Common Stock | $31,958,834 | 0.88% | 141,392 | $-5,166,067 | Up ×3 | ||
| HD Home Depot, Inc. (The) Common Stock | $31,264,612 | 0.86% | 95,061 | $-10,202,031 | Up ×3 | ||
| ENLAY | $30,956,451 | 0.85% | 2,845,262 | $-9,003,726 | Up ×1 | ||
| NXPI NXP Semiconductors N.V. - Common Stock | $30,731,618 | 0.84% | 156,109 | $-12,150,085 | Up ×5 | ||
| BOWFF | $30,713,374 | 0.84% | 680,865 | $-11,630,320 | Up ×1 | ||
| CARR Carrier Global Corporation Common Stock | $30,261,050 | 0.83% | 537,401 | $528,876 | Up ×3 | ||
| MSFT Microsoft Corporation - Common Stock | $28,374,271 | 0.78% | 76,652 | $-8,256,790 | Up ×3 | ||
| MDT Medtronic plc. Ordinary Shares | $26,940,438 | 0.74% | 310,911 | $-11,959,247 | Up ×5 | ||
| BDX Becton, Dickinson and Company Common Stock | $26,317,472 | 0.72% | 167,382 | $-6,449,208 | Up ×1 | ||
| MRK Merck & Company, Inc. Common Stock (new) | $24,956,566 | 0.69% | 207,470 | $-19,014,965 | Down ×1 | ||
| UL Unilever PLC American Depositary Shares (each representing One Ordinary Share) | $23,683,397 | 0.65% | 415,717 | $-10,681,474 | Up ×1 | ||
| ENB Enbridge Inc Common Stock | $23,406,314 | 0.64% | 433,145 | $-34,711,028 | Down ×2 | ||
| AVGO Broadcom Inc. - Common Stock | $23,087,279 | 0.63% | 74,593 | $-10,341,990 | Up ×1 | ||
| COP ConocoPhillips Common Stock | $18,198,576 | 0.50% | 137,868 | $5,127,462 | Up ×1 | ||
| EQIX Equinix, Inc. - Common Stock | $16,872,871 | 0.46% | 17,213 | $-231,728 | Up ×3 | ||
| USB U.S. Bancorp Common Stock | $16,110,150 | 0.44% | 309,751 | $-4,765,100 | Up ×3 | ||
| GRTUF | $15,810,430 | 0.43% | 269,724 | $-7,085,938 | Down ×5 | ||
| SAP SAP SE ADS | $15,416,776 | 0.42% | 90,046 | $-12,519,871 | Up ×4 | ||
| EMA Emera Incorporated Common Shares | $11,460,365 | 0.31% | 221,785 | $-3,273,318 | Up ×1 | ||
| AJG Arthur J. Gallagher & Co. Common Stock | $9,349,109 | 0.26% | 43,167 | Up ×1 | |||
| CDW CDW Corporation - Common Stock | $8,513,394 | 0.23% | 70,347 | $-837,511 | Up ×1 | ||
| IBDRY | $1,876,900 | 0.05% | 20,348 | $-650,270 | Down ×5 | ||
| TD Toronto Dominion Bank (The) Common Stock | $1,463,802 | 0.04% | 15,723 | $-801,162 | Down ×2 | ||
| FTS Fortis Inc. Common Shares | $725,270 | 0.02% | 13,000 | $-109,404 | Up ×3 | ||
| Unknown issuer (CUSIP: 25675T107) | $453,894 | 0.01% | 3,710 | $-307,175 | |||
| ADI Analog Devices, Inc. - Common Stock | $402,447 | 0.01% | 1,265 | $-58,853 | Up ×3 | ||
| TXN Texas Instruments Incorporated - Common Stock | $354,306 | 0.01% | 1,825 | $-37,177 | Up ×3 | ||
| AMGN Amgen Inc. - Common Stock | $299,073 | 0.01% | 850 | $-82,564 | |||
| AEM Agnico Eagle Mines Limited Common Stock | $294,410 | 0.01% | 1,455 | $-69,859 | Down ×1 | ||
| BAC Bank of America Corporation Common Stock | $260,081 | 0.01% | 5,335 | $-295,955 | Down ×2 | ||
| AAPL Apple Inc. - Common Stock | $253,029 | 0.01% | 997 | $-118,774 | |||
| CNQ Canadian Natural Resources Limited Common Stock | $231,711 | 0.01% | 4,765 | $-170,799 | Down ×1 | ||
| PNC PNC Financial Services Group, Inc. (The) Common Stock | $208,090 | 0.01% | 1,000 | $-78,234 | |||
| No matches | |||||||
Conviction holdings
Positions increased for 3+ consecutive quarters.
Share counts are as reported in 13F filings (not split-adjusted)
| Security | Value | % of portfolio | Streak |
|---|---|---|---|
| PBA | $157,779,109 | 4.33% | up ×5 |
| CP | $130,999,320 | 3.60% | up ×5 |
| CNI | $121,631,000 | 3.34% | up ×5 |
| None | $114,010,953 | 3.13% | up ×3 |
| TMUS | $40,872,468 | 1.12% | up ×3 |
| APD | $37,401,459 | 1.03% | up ×3 |
| BKNG | $33,867,814 | 0.93% | up ×3 |
| SBGSY | $32,882,306 | 0.90% | up ×5 |
| URI | $32,422,377 | 0.89% | up ×5 |
| HON | $31,958,834 | 0.88% | up ×3 |
| HD | $31,264,612 | 0.86% | up ×3 |
| NXPI | $30,731,618 | 0.84% | up ×5 |
| CARR | $30,261,050 | 0.83% | up ×3 |
| MSFT | $28,374,271 | 0.78% | up ×3 |
| MDT | $26,940,438 | 0.74% | up ×5 |
Biggest new bets
New positions opened this quarter, largest first.
| Security | Value | Shares | % of portfolio |
|---|---|---|---|
| CCDBF | $118,808,525 | 1,902,215 | 3.26% |
| NTIOF | $97,899,266 | 758,948 | 2.69% |
| AJG | $9,349,109 | 43,167 | 0.26% |
Top movers (QoQ)
| Security | Action | Shares Δ | Value Δ |
|---|---|---|---|
| GIL | Bought more | +42K | -$74.7M |
| CM | Trimmed | -180K | -$69.0M |
| MFC | Bought more | +105K | -$67.2M |
| BN | Bought more | +89K | -$66.0M |
| BNS | Bought more | +25K | -$62.4M |
| RY | Bought more | +17K | -$61.4M |
| SAPIF | Bought more | +67K | -$54.0M |
| — | Bought more | +422K | -$42.4M |
| BMO | Bought more | +16K | -$40.6M |
| — | Bought more | +96K | -$38.8M |
Exited positions
Includes corporate events (mergers, delistings) — not all exits are sells
Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.
| Security | Quarter | Shares before | Value before | Price since exit |
|---|---|---|---|---|
| CCDBF | Dec. 31, 2025 | 1,561,966 | $88,092,294 | No longer tracked |
| NTIOF | Dec. 31, 2025 | 800,544 | $85,089,612 | No longer tracked |
| ORCL | March 31, 2026 | 133,990 | $35,824,402 | -0.4% |
| ULXXXX | Dec. 31, 2025 | 432,684 | $25,649,508 | No longer tracked |
| LVMUY | Dec. 31, 2025 | 181,821 | $22,238,527 | No longer tracked |
| LVMUY | June 30, 2025 | 165,911 | $20,551,396 | No longer tracked |
| EMA | June 30, 2025 | 223,575 | $9,420,572 | 13.3% |
| GPN | March 31, 2026 | 63,631 | $6,755,883 | 37.6% |
| NNWWF | Dec. 31, 2025 | 194,680 | $6,693,599 | No longer tracked |
| NNWWF | June 30, 2025 | 187,345 | $6,621,516 | No longer tracked |
| UNH | March 31, 2025 | 1,960 | $991,486 | -26.0% |
| SWK | Dec. 31, 2025 | 9,935 | $738,469 | 34.0% |
| CVS | March 31, 2025 | 13,605 | $610,728 | 38.1% |
| SONY | March 31, 2026 | 15,180 | $533,070 | 15.0% |
| PEP | Dec. 31, 2025 | 3,180 | $446,599 | -0.6% |
| JPM | March 31, 2026 | 745 | $329,292 | 20.8% |
| TU | March 31, 2026 | 15,435 | $279,219 | -21.8% |
| GILD | June 30, 2025 | 2,250 | $252,113 | 30.6% |
| CMCSA | March 31, 2026 | 4,970 | $203,777 | -7.8% |