SEC 13F Intelligence

Managers / Q4 2019 · view latest →

LINCLUDEN MANAGEMENT LTD

CIK 0001058231 · 201 CITY CENTRE DRIVE, SUITE 201, MISSISSAUGA, L5B 2T4 · 9058259000

Reported Value
$1.1B
Q4 2019
Positions
74
Filings on Record
29
2019–present window
Filed
Feb 13, 2020
original filing

Summary

Lincluden Management Ltd reported $1.1B in U.S.-listed holdings across 74 positions for Q4 2019.

Its largest position, TD, represents 9.1% of the portfolio.

Compared with Q3 2019, the fund opened 3 new positions and exited 4.

Portfolio Metrics

Turnover
+2.8%
vs prior filed quarter
Top-10 Concentration
+61.2%
share of reported value
Largest Position
+9.1%
Toronto Dominion Bk Ont
New / Exited
3 / 4
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q1 ’19: $1.0BQ1 ’19Q2 ’19: $1.6BQ3 ’19: $1.1BQ4 ’19: $1.1BQ1 ’20: $829MQ1 ’20Q2 ’20: $953MQ3 ’20: $1.0BQ4 ’20: $961MQ1 ’21: $1.0BQ1 ’21Q2 ’21: $1.0BQ3 ’21: $997MQ4 ’21: $1.1BQ1 ’22: $1.1BQ1 ’22Q2 ’22: $914MQ3 ’22: $785MQ4 ’22: $862MQ1 ’23: $880MQ1 ’23Q2 ’23: $868MQ3 ’23: $827MQ4 ’23: $824MQ1 ’24: $843MQ1 ’24Q2 ’24: $823MQ3 ’24: $917MQ4 ’24: $826MQ1 ’25: $787MQ1 ’25Q2 ’25: $905MQ3 ’25: $898MQ4 ’25: $1.2BQ1 ’26: $939MQ1 ’26filingsflow.com

Portfolio Composition

By security type
Common Stock: 83.5%Other: 9.9%REIT: 3.5%ADR: 3.0%
  • Common Stock · 83.5% · $928M
  • Other · 9.9% · $110M
  • REIT · 3.5% · $39M
  • ADR · 3.0% · $34M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2019 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
CNCCENETENE CORP. DELNEW+117.3K117.3K+$7M$7M
COLDAMERICOLD REALTY TRUSTNEW+130.3K130.3K+$5M$5M
GILGILDAN ACTIVEWEAR INC.NEW+15.2K15.2K+$448,000$448,000
DGDOLLAR TREE INC.ADDED+56.4K85.9K+$5M$10M
HONHONEYWELL INTL INCSOLD OUT−14.6K0−$2M$0
EXMOCEXXON MOBIL CORP.SOLD OUT−31.9K0−$2M$0
KOCOCA-COLA COMPANYSOLD OUT−32.0K0−$2M$0
HBMHUDBAY MINERALS INC.SOLD OUT−4.0K0−$14,000$0

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q4 2019

74 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1TDTORONTO DOMINION BK ONThistory →COM NEW9.12%$101M1.81M
2RYROYAL BANK OF CANADAhistory →COM8.84%$98M1.24M
3BNSBANK NOVA SCOTIA HALIFAXhistory →COM7.25%$81M1.43M
4ENBENBRIDGE INC.history →COM7.09%$79M2.24M
5CNQCANADIAN NATURAL RESOURCES LTD.history →COM5.61%$62M1.93M
6BCE INCCOM5.32%$59M1.28M
7RCIROGERS COMMUNICATIONS INChistory →CL B5.29%$59M1.18M
8CVECENOVUS ENERGY INC.history →COM4.69%$52M5.12M
9CRGYCRESCENT POINT ENERGY CORP.history →COM4.21%$47M10.94M
10BMOBANK MONTREAL QUEhistory →COM3.75%$42M537.2K
11CMCANADIAN IMPERIAL BANK OF COMMERCEhistory →COM3.60%$40M480.8K
12MFCMANULIFE FINL CORPhistory →COM3.18%$35M1.74M
13TELUS CORP.NON -VTG2.88%$32M825.6K
14SLFSUN LIFE FINL INC.history →COM2.86%$32M710.0K
15SHAW COMMUNICATIONSCL B CONV2.64%$29M1.45M
16ENERPLUS CORP.COM1.68%$19M1.96M
17VZVERIZON COMMUNICATIONShistory →COM1.18%$13M212.8K
18WBAWALLGREENS BOOTS ALLIANCE INChistory →COM1.17%$13M219.7K
19GRANITE REAL ESTATE INVT TRUNIT0.84%$9M183.8K
20GLAXOSMITHKLINE PLCSPON ADR0.74%$8M175.3K
21WFCWELLS FARGO & CO NEWCOM0.70%$8M143.8K
22BACBANK OF AMERICA CORPORATIONCOM0.67%$7M212.4K
23FEDERAL REALTY INVT TRSH BEN INT NEW0.67%$7M57.5K
24CNCCENETENE CORP. DELCOM0.66%$7M117.3K
25DOWDOW INC.COM0.64%$7M130.8K
26PFEPFIZER INCCOM0.63%$7M178.3K
27KRKROGER COCOM0.60%$7M230.6K
28BROOKFIELD ASSET MGMT INC.CL A LTD VT SH0.60%$7M115.4K
29CTVACORTEVA INC.COM0.59%$7M223.0K
30MSFTMICROSOFT CORP.COM0.57%$6M39.9K
31GLWCORNING INC.COM0.51%$6M195.5K
32EQIXEQUINIX INC.COM0.50%$6M9.4K
33VODVODAFONE GROUP PLCSPON ADR0.49%$5M279.2K
34CPTCAMDEN PROPERTY TRUSTSH BEN INT0.48%$5M50.7K
35CSCOCISCO SYSTEMS INC.COM0.47%$5M107.7K
36DGDOLLAR TREE INC.COM0.46%$5M54.8K
37CNICANADIAN NATIONAL RAILWAY COCOM0.45%$5M55.2K
38INGING GROEP N VSPON ADR0.44%$5M408.3K
39ROYAL DUTCH SHELLSPON ADR A0.44%$5M83.2K
40DGDOLLAR GENERAL CORP.COM0.44%$5M31.1K
41COLDAMERICOLD REALTY TRUSTCOM0.41%$5M130.3K
42DDDUPONT DE NEMOURS INC.COM0.40%$4M70.0K
43SAPSAP SESPON ADR0.40%$4M38.1K
44CCITIGROUP INC.COM0.40%$4M55.9K
45AAPLAPPLE INC.COM0.32%$4M12.2K
46SNYSANOFI AVENTISSPON ADR0.31%$3M69.6K
47AIGAMERICAN INT'L GROUP INC.COM0.30%$3M59.5K
48AMERICAN TOWER CORPCOM0.28%$3M13.5K
49JPMJP MORGAN CHASE & COCOM0.28%$3M22.0K
50ORANYORANGESPON ADR0.26%$3M197.6K
51ABBNYABB LTD.SPON ADR0.26%$3M119.1K
52EOGEOG RESOURCES INC.COM0.25%$3M33.1K
53ZBHZIMMER BIOMET HOLDINGS INC.COM0.25%$3M18.5K
54MSMORGAN STANLEYCOM0.24%$3M52.5K
55JNJJOHNSON & JOHNSONCOM0.24%$3M18.3K
56LOWLOWES COS INC.COM0.23%$3M21.7K
57CVXCHEVRON CORP.COM0.22%$2M20.3K
58WMTWAL MART STORES INCCOM0.22%$2M20.3K
59CIGICOLLIERS INTL GROUP INC.SUB VTG SH0.22%$2M30.7K
60CHINA MOBILE LIMITEDSPON ADR0.21%$2M55.8K
61TTENTOTAL S ASPON ADR0.21%$2M42.3K
62ORCLORACLE CORPCOM0.20%$2M42.3K
63WELLWELLTOWER INC.COM0.15%$2M20.6K
64DVNDEVON ENERGY CORP.COM0.15%$2M63.7K
65CUBECUBESMARTCOM0.14%$2M50.2K
66SPGSIMON PROPERTY GROUP INC.COM0.14%$2M10.5K
67TRNOTERRENO REALTY CORP.COM0.14%$2M28.8K
68INNSUMMIT HOTEL PROPERTIES INC.COM0.06%$670,00051.0K
69GILGILDAN ACTIVEWEAR INC.COM0.04%$448,00015.2K
70WEYERHAEUSER COCOM0.04%$433,00014.3K
71VETVERMILLION ENERGY INCCOM0.04%$414,00025.3K
72WASHINGTON PRIME GROUP NEWCOM0.02%$201,00055.3K
73SUNCOR ENERGY INCCOM0.02%$179,0005.5K
74MGAMAGNA INTL INCCOM0.01%$146,0002.7K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$939M70May 13, 202613F-HRchanges · EDGAR ↗
Q4 2025$1.2B71Jan 30, 202613F-HRchanges · EDGAR ↗
Q3 2025$898M69Nov 14, 202513F-HRchanges · EDGAR ↗
Q2 2025$905M77Jul 25, 202513F-HRchanges · EDGAR ↗
Q1 2025$787M72May 6, 202513F-HRchanges · EDGAR ↗
Q4 2024$826M73Feb 4, 202513F-HRchanges · EDGAR ↗
Q3 2024$917M72Oct 28, 202413F-HRchanges · EDGAR ↗
Q2 2024$823M72Jul 24, 202413F-HRchanges · EDGAR ↗
Q1 2024$843M73May 7, 202413F-HRchanges · EDGAR ↗
Q4 2023$824M75Feb 7, 202413F-HRchanges · EDGAR ↗
Q3 2023$827M72Nov 8, 202313F-HRchanges · EDGAR ↗
Q2 2023$868M74Aug 9, 202313F-HRchanges · EDGAR ↗
Q1 2023$880M75May 12, 202313F-HRchanges · EDGAR ↗
Q4 2022$862M71Feb 2, 202313F-HRchanges · EDGAR ↗
Q3 2022$785M68Nov 7, 202213F-HRchanges · EDGAR ↗
Q2 2022$914M70Aug 8, 202213F-HRchanges · EDGAR ↗
Q1 2022$1.1B74May 12, 202213F-HRchanges · EDGAR ↗
Q4 2021$1.1B76Feb 9, 202213F-HRchanges · EDGAR ↗
Q3 2021$997M76Nov 9, 202113F-HRchanges · EDGAR ↗
Q2 2021$1.0B77Aug 12, 202113F-HRchanges · EDGAR ↗
Q1 2021$1.0B73May 6, 202113F-HRchanges · EDGAR ↗
Q4 2020$961M77Feb 9, 202113F-HRchanges · EDGAR ↗
Q3 2020$1.0B77Oct 29, 202013F-HRchanges · EDGAR ↗
Q2 2020$953M73Aug 10, 202013F-HRchanges · EDGAR ↗
Q1 2020$829M71May 14, 202013F-HRchanges · EDGAR ↗
Q4 2019$1.1B74Feb 13, 202013F-HRchanges · EDGAR ↗
Q3 2019$1.1B74Nov 5, 201913F-HRchanges · EDGAR ↗
Q2 2019$1.6B75Aug 15, 201913F-HRchanges · EDGAR ↗
Q1 2019$1.0B72May 16, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.