SEC 13F Intelligence

Managers / Q3 2022 · view latest →

LINCLUDEN MANAGEMENT LTD

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

Reported Value
$785M
Q3 2022
Positions
68
Filings on Record
29
2019–present window
Filed
Nov 7, 2022
original filing

Summary

Lincluden Management Ltd reported $785M in U.S.-listed holdings across 68 positions for Q3 2022.

Its largest position, TD, represents 9.8% of the portfolio.

Compared with Q2 2022, the fund opened 1 new position and exited 3.

Portfolio Metrics

Turnover
+3.7%
vs prior filed quarter
Top-10 Concentration
+55.7%
share of reported value
Largest Position
+9.8%
Toronto Dominion Bk Ont
New / Exited
1 / 3
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: 88.3%REIT: 5.2%Other: 4.7%ADR: 1.7%
  • Common Stock · 88.3% · $693M
  • REIT · 5.2% · $41M
  • Other · 4.7% · $37M
  • ADR · 1.7% · $14M

Quarter-over-Quarter Changes full breakdown →

vs Q2 2022 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
HLNHALEON PLCNEW+290.7K290.7K+$2M$2M
GOOGLALPHABET INC.ADDED+39.7K41.4K+$210,000$4M
TRICON RESIDENTIAL INCADDED+469.2K598.1K+$4M$5M
QSRRESTAURANT BRANDS INTL INC.ADDED+403.8K543.1K+$22M$29M
GLAXOSMITHKLINE PLCSOLD OUT−194.2K0−$8M$0
ACTIVISION BLIZZARD INC.SOLD OUT−86.0K0−$7M$0
BXPBOSTON PROPERTIES INC.SOLD OUT−22.5K0−$2M$0
DISDISNEY WALT COADDED+17.4K37.6K+$2M$4M

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

Holdings — Q3 2022

67 positions (from 68 filing rows — )
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1TDTORONTO DOMINION BK ONThistory →COM NEW9.79%$77M1.25M
2RYROYAL BANK OF CANADAhistory →COM9.36%$73M816.3K
3CMCANADIAN IMPERIAL BANK OF COMMERCEhistory →COM5.18%$41M928.5K
4RCIROGERS COMMUNICATIONS INChistory →CL B5.13%$40M1.04M
5BCEBCE INChistory →COM5.10%$40M955.1K
6BNSBANK NOVA SCOTIA HALIFAXhistory →COM4.81%$38M793.3K
7BROOKFIELD ASSET MGMT INC.CL A LTD VT SH · CLA EXCH LT VTG4.44%$35M851.5K
8PBAPEMBINA PIPELINE CORP.history →COM4.06%$32M1.05M
9CNICANADIAN NATIONAL RAILWAY COhistory →COM4.02%$32M291.9K
10TUTELUS CORP.history →COM3.87%$30M1.53M
11MFCMANULIFE FINL CORP COMhistory →COM3.70%$29M1.85M
12QSRRESTAURANT BRANDS INTL INC.history →COM3.68%$29M543.1K
13SUSUNCOR ENERGY INChistory →COM NEW3.64%$29M1.01M
14MGAMAGNA INTL INChistory →COM3.60%$28M594.9K
15ENBENBRIDGE INC.history →COM3.42%$27M723.1K
16PFEPFIZER INChistory →COM1.57%$12M280.9K
17DLTRDOLLAR TREE INC.history →COM1.13%$9M65.3K
18CSCOCISCO SYSTEMS INC.history →COM1.09%$9M214.4K
19ORCLORACLE CORPhistory →COM1.06%$8M136.0K
20VZVERIZON COMMUNICATIONShistory →COM1.04%$8M214.3K
21GRANITE REAL ESTATE INVT TRUNIT0.97%$8M157.9K
22FSVFIRST SERVICE CORPCOM0.91%$7M60.0K
23WBAWALLGREENS BOOTS ALLIANCE INCCOM0.89%$7M223.1K
24RMRRMR GROUP INC.CL A0.88%$7M290.0K
25WFCWELLS FARGO & CO NEWCOM0.87%$7M168.8K
26CNCCENTENE CORP. DELCOM0.85%$7M85.1K
27FRTFEDERAL REALTY INVT TRSH BEN INT NEW0.79%$6M68.9K
28GIBCGI INCCL A SUB VTG0.74%$6M76.8K
29TRICON RESIDENTIAL INCCOM NPV0.69%$5M598.1K
30KRKROGER COCOM0.66%$5M118.9K
31MSFTMICROSOFT CORP.COM0.59%$5M19.9K
32BACBANK OF AMERICA CORPORATIONCOM0.57%$4M147.6K
33AVBAVALONBAY CMNTYS INC.COM0.54%$4M23.1K
34CPTCAMDEN PROPERTY TRUSTSH BEN INT0.51%$4M33.7K
35GOOGLALPHABET INC.CAP STK CL A0.50%$4M41.4K
36DGDOLLAR GENERAL CORP.COM0.50%$4M16.4K
37DISDISNEY WALT COCOM0.45%$4M37.6K
38VODVODAFONE GROUP PLCSPON ADR0.44%$3M303.4K
39SUISUN CMNTYS INC.COM0.43%$3M25.0K
40INGING GROEP N VSPON ADR0.42%$3M384.9K
41GLWCORNING INC.COM0.39%$3M104.5K
42MSMORGAN STANLEYCOM0.38%$3M38.2K
43WMTWAL MART STORES INCCOM0.38%$3M23.2K
44SPGSIMON PPTY GROUP NEWCOM0.35%$3M30.7K
45EQIXEQUINIX INC.COM0.34%$3M4.7K
46ORANYORANGESPON ADR0.34%$3M293.6K
47WELLWELLTOWER INC.COM0.33%$3M39.9K
48JNJJOHNSON & JOHNSONCOM0.32%$3M15.5K
49EOGEOG RESOURCESCOM0.32%$2M22.1K
50TSCOTRACTOR SUPPLY COCOM0.30%$2M12.6K
51SANOFI SAADR0.30%$2M61.6K
52COLDAMERICOLD REALTY TRUSTCOM0.29%$2M92.2K
53TJXTJX COMPANIES INC.COM0.29%$2M36.0K
54CIGICOLLIERS INTL GROUP INC.SUB VTG SH0.28%$2M24.0K
55AMTAMERICAN TOWER CORPCOM0.28%$2M10.2K
56CVECENOVUS ENERGY INC.COM0.26%$2M132.4K
57TRPTC ENERGY CORP.COM0.26%$2M50.5K
58CCITIGROUP INC.COM0.26%$2M48.8K
59BMOBANK MONTREAL QUECOM0.24%$2M21.6K
60HLNHALEON PLCSPON ADR0.23%$2M290.7K
61TRNOTERRENO REALTY CORP.COM0.21%$2M31.0K
62TTENTOTAL ENERGIES SESPON ADR0.21%$2M34.6K
63AREALEXANDRIA REAL ESTATE EQ INC.COM0.20%$2M11.4K
64JPMJP MORGAN CHASE & COCOM0.14%$1M10.8K
65VETVERMILLION ENERGY INCCOM0.14%$1M50.5K
66SAPSAP SESPON ADR0.11%$864,00010.6K
67BROOKFIELD BUSINESS PARTNERS LTDUNIT LP0.00%$30,0001.5K

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 ↗.