SEC 13F Intelligence

Managers / Q4 2020 · view latest →

LINCLUDEN MANAGEMENT LTD

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

Reported Value
$961M
Q4 2020
Positions
77
Filings on Record
29
2019–present window
Filed
Feb 9, 2021
original filing

Summary

Lincluden Management Ltd reported $961M in U.S.-listed holdings across 77 positions for Q4 2020.

Its largest position, TD, represents 9.5% of the portfolio.

Compared with Q3 2020, the fund opened 2 new positions and exited 2.

Portfolio Metrics

Turnover
+6.8%
vs prior filed quarter
Top-10 Concentration
+57.3%
share of reported value
Largest Position
+9.5%
Toronto Dominion Bk Ont
New / Exited
2 / 2
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: 72.3%Other: 18.4%REIT: 6.5%ADR: 2.8%
  • Common Stock · 72.3% · $695M
  • Other · 18.4% · $177M
  • REIT · 6.5% · $62M
  • ADR · 2.8% · $27M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2020 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
DISDISNEY WALT CO.NEW+16.4K16.4K+$3M$3M
TJXTJX COMPANIES INC. NEWNEW+27.1K27.1K+$2M$2M
COLDAMERICOLD REALTY TRUSTADDED+106.4K146.0K+$4M$5M
EXREXTRA SPACE STORAGE INC.ADDED+23.5K40.9K+$3M$5M
WELLWELLTOWER INC.ADDED+33.7K65.8K+$2M$4M
ENERPLUS CORP.SOLD OUT−145.7K0−$267,000$0
BROOKFIELD RENEWAL CORP.SOLD OUT−7080−$41,000$0
EQIXEQUINIX INC.ADDED+5.0K11.0K+$3M$8M

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

Holdings — Q4 2020

77 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1TDTORONTO DOMINION BK ONThistory →COM NEW9.48%$91M1.61M
2RYROYAL BANK OF CANADAhistory →COM9.11%$87M1.06M
3BNSBANK NOVA SCOTIA HALIFAXhistory →COM5.93%$57M1.05M
4CMCANADIAN IMPERIAL BANK OF COMMERCEhistory →COM5.56%$53M624.9K
5BCE INCCOM5.42%$52M1.22M
6ENBENBRIDGE INC.history →COM5.16%$50M1.55M
7RCIROGERS COMMUNICATIONS INChistory →CL B4.26%$41M878.4K
8BROOKFIELD ASSET MGMT INC.CL A LTD VT SH4.24%$41M984.7K
9TELUS CORP.NON -VTG4.18%$40M2.03M
10MGAMAGNA INTL INChistory →COM4.03%$39M546.3K
11SHAW COMMUNICATIONSCL B CONV3.47%$33M1.90M
12CNQCANADIAN NATURAL RESOURCES LTD.history →COM3.12%$30M1.25M
13CNICANADIAN NATIONAL RAILWAY COhistory →COM3.10%$30M271.2K
14SUNCOR ENERGY INCCOM3.08%$30M1.76M
15SLFSUN LIFE FINL INC.history →COM2.41%$23M520.0K
16GRANITE REAL ESTATE INVT TRUNIT1.22%$12M191.7K
17VZVERIZON COMMUNICATIONS INC.history →COM1.12%$11M182.3K
18CSCOCISCO SYSTEMS INC.history →COM1.10%$11M236.6K
19WBAWALLGREENS BOOTS ALLIANCE INCCOM0.86%$8M206.9K
20EQIXEQUINIX INC.COM0.82%$8M11.0K
21DGDOLLAR TREE INC.COM0.81%$8M72.0K
22SUISUN CMNTYS INC.COM0.77%$7M48.8K
23AMERICAN TOWER CORPCOM0.77%$7M33.0K
24DOWDOW INC.COM0.77%$7M133.1K
25KRKROGER COCOM0.76%$7M134.7K
26CNCCENTENE CORP. DELCOM0.72%$7M115.9K
27GLAXOSMITHKLINE PLCSPON ADR0.72%$7M189.0K
28CTVACORTEVA INC.COM0.70%$7M172.6K
29PFEPFIZER INCCOM0.69%$7M179.4K
30CRGYCRESCENT POINT ENERGY CORP.COM0.66%$6M2.70M
31MSFTMICROSOFT CORP.COM0.65%$6M28.2K
32GLWCORNING INC.COM0.60%$6M160.1K
33BACBANK OF AMERICA CORPORATIONCOM0.58%$6M182.7K
34COLDAMERICOLD REALTY TRUSTCOM0.57%$5M146.0K
35INGING GROEP N VSPON ADR0.54%$5M551.0K
36TRNOTERRENO REALTY CORP.COM0.51%$5M83.4K
37DGDOLLAR GENERAL CORP.COM0.50%$5M23.1K
38EXREXTRA SPACE STORAGE INC.COM0.49%$5M40.9K
39WFCWELLS FARGO & CO NEWCOM0.49%$5M156.6K
40AAPLAPPLE INC.COM0.45%$4M32.8K
41WELLWELLTOWER INC.COM0.44%$4M65.8K
42GOOGLALPHABET INC.CAP STK CL A0.42%$4M2.3K
43QSRRESTAURANT BRANDS INTL INC.COM0.41%$4M65.0K
44MAAMID AMERICAN APT CMNTYS INC.COM0.41%$4M31.3K
45CIGICOLLIERS INTL GROUP INC.SUB VTG SHS0.40%$4M43.6K
46CPTCAMDEN PROPERTY TRUSTSH BEN INT0.39%$4M37.4K
47ORANYORANGESPON ADR0.39%$4M314.7K
48DDDUPONT DE NEMOURS INC.COM0.38%$4M51.7K
49VODVODAFONE GROUP PLCSPON ADR0.38%$4M221.0K
50FEDERAL REALTY INVT TRSH BEN INT NEW0.38%$4M42.6K
51MSMORGAN STANLEYCOM0.34%$3M48.2K
52SNYSANOFI AVENTISSPON ADR0.32%$3M63.6K
53CCLCARNIVAL CORPCOM0.31%$3M139.5K
54DISDISNEY WALT CO.COM0.31%$3M16.4K
55WMTWAL MART STORES INCCOM0.30%$3M19.8K
56ABBNYABB LTD.SPON ADR0.29%$3M100.9K
57CCITIGROUP INC.COM0.29%$3M44.7K
58JNJJOHNSON & JOHNSONCOM0.27%$3M16.4K
59ROYAL DUTCH SHELLSPON ADR A0.26%$3M71.8K
60ORCLORACLE CORPCOM0.25%$2M36.4K
61LOWLOWES COS INC.COM0.23%$2M13.9K
62SAPSAP SESPON ADR0.23%$2M16.7K
63JPMJP MORGAN CHASE & COCOM0.22%$2M17.0K
64CHINA MOBILE LIMITEDSPON ADR0.21%$2M69.6K
65INNSUMMIT HOTEL PPTYS INC.COM0.19%$2M207.9K
66TJXTJX COMPANIES INC. NEWCOM0.19%$2M27.1K
67TTENTOTAL S ASPON ADR0.17%$2M39.9K
68TSCOTRACTOR SUPPLY COCOM0.17%$2M11.7K
69CVXCHEVRON CORP.COM0.16%$2M18.7K
70BMOBANK MONTREAL QUECOM0.16%$2M20.5K
71KRCKILROY RLTY CORPCOM0.14%$1M23.8K
72SPGSIMON PPTY GROUP NEWCOM0.14%$1M15.7K
73EOGEOG RESOURCES INC.COM0.13%$1M25.8K
74CVECENOVUS ENERGY INC.COM0.11%$1M175.2K
75AIGAMERICAN INT'L GROUP INC.COM0.09%$844,00022.3K
76GILGILDAN ACTIVEWEAR INC.COM0.07%$719,00025.7K
77VETVERMILLION ENERGY INCCOM0.01%$104,00023.3K

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 ↗.