SEC 13F Intelligence

Managers / Q1 2024 · view latest →

LINCLUDEN MANAGEMENT LTD

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

Reported Value
$843M
Q1 2024
Positions
73
Filings on Record
29
2019–present window
Filed
May 7, 2024
original filing

Summary

Lincluden Management Ltd reported $843M in U.S.-listed holdings across 73 positions for Q1 2024.

Its largest position, TD, represents 7.7% of the portfolio.

Compared with Q4 2023, the fund opened 0 new positions and exited 2.

Portfolio Metrics

Turnover
+4.3%
vs prior filed quarter
Top-10 Concentration
+54.4%
share of reported value
Largest Position
+7.7%
Toronto Dominion Bk Ont

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: 90.5%REIT: 5.9%ADR: 3.0%Other: 0.6%
  • Common Stock · 90.5% · $763M
  • REIT · 5.9% · $50M
  • ADR · 3.0% · $25M
  • Other · 0.6% · $5M

Quarter-over-Quarter Changes full breakdown →

vs Q4 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
BEPCBROOKFIELD RENEWABLE PARTNERS LPADDED+680.8K684.4K+$16M$16M
BROOKFIELD RENEWABLEADDED+82.7K84.3K+$2M$2M
WMTWAL MART STORES INCADDED+40.9K61.8K+$430,000$4M
TRICON RESIDENTIAL INCSOLD OUT−1.00M0−$9M$0
VTRVENTAS INCSOLD OUT−43.5K0−$2M$0
EQIXEQUINIX INC.ADDED+1.5K3.6K+$1M$3M
CIGICOLLIERS INTL GROUP INC.ADDED+21.1K56.6K+$2M$7M
UNHUNITEDHEALTH GROUP INC COMADDED+2.0K6.1K+$873,000$3M

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

Holdings — Q1 2024

73 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1TDTORONTO DOMINION BK ONThistory →COM NEW7.74%$65M1.08M
2RYROYAL BANK OF CANADAhistory →COM7.54%$64M630.2K
3TRPTC ENERGY CORP.history →COM6.05%$51M1.27M
4BNBROOKFIELD CORPhistory →CLA LTD VTSH5.58%$47M1.13M
5BNSBANK NOVA SCOTIA HALIFAXhistory →COM5.27%$44M858.6K
6CMCANADIAN IMPERIAL BANK OF COMMERCEhistory →COM5.04%$43M839.0K
7BCEBCE INChistory →COM4.74%$40M1.18M
8MFCMANULIFE FINL CORP COMhistory →COM4.40%$37M1.49M
9CNICANADIAN NATIONAL RAILWAY COhistory →COM4.33%$37M277.3K
10MGAMAGNA INTL INChistory →COM3.73%$31M577.0K
11PBAPEMBINA PIPELINE CORP.history →COM3.46%$29M827.5K
12TUTELUS CORP.history →COM3.11%$26M1.64M
13SUSUNCOR ENERGY INChistory →COM NEW2.97%$25M679.9K
14QSRRESTAURANT BRANDS INTL INC.history →COM2.60%$22M275.9K
15BEPCBROOKFIELD RENEWABLE PARTNERS LPhistory →PARTNERSHIP UNIT1.89%$16M684.4K
16CSCOCISCO SYSTEMS INC.history →COM1.35%$11M227.2K
17VZVERIZON COMMUNICATIONShistory →COM1.34%$11M268.7K
18ORCLORACLE CORPhistory →COM1.24%$10M83.0K
19PFEPFIZER INChistory →COM1.17%$10M355.2K
20MSFTMICROSOFT CORP.COM0.91%$8M18.5K
21GOOGLALPHABET INC.CAP STK CL A0.90%$8M50.5K
22DEODIAGEO PLC-SPONS ADRSPON ADR NEW0.89%$7M51.2K
23GRANITE REAL ESTATE INVT TRUNIT0.88%$7M129.5K
24RMRRMR GROUP INC.CL A0.83%$7M290.0K
25USBUS BANCORPCOM NEW0.82%$7M155.3K
26CIGICOLLIERS INTL GROUP INC.SUB VTG SHS0.82%$7M56.6K
27CNCCENTENE CORP. DELCOM0.79%$7M84.9K
28FRTFEDERAL REALTY INVT TRSH BEN INT NEW0.76%$6M62.9K
29DGDOLLAR GENERAL CORP.COM0.76%$6M41.2K
30FSVFIRST SERVICE CORPCOM0.74%$6M37.7K
31KRKROGER COCOM0.74%$6M109.0K
32BACBANK OF AMERICA CORPORATIONCOM0.70%$6M156.1K
33WBAWALLGREENS BOOTS ALLIANCE INCCOM0.68%$6M265.2K
34EXREXTRA SPACE STORAGE INC.COM0.64%$5M36.5K
35AMTAMERICAN TOWER CORPCOM0.64%$5M20.1K
36INGING GROEP N VSPON ADR0.62%$5M317.9K
37JPMJPMORGAN & CHASE & CO COMCOM0.57%$5M23.9K
38HDHOME DEPOTCOM0.56%$5M12.2K
39CPTCAMDEN PROPERTY TRUSTSH BEN INT0.54%$5M45.9K
40CNQCANADIAN NAT RES LTDCOM0.53%$4M59.0K
41EOGEOG RESOURCESCOM0.53%$4M34.7K
42DISDISNEY WALT COCOM0.52%$4M35.7K
43UDRUDR INC.COM0.50%$4M112.9K
44MSMORGAN STANLEYCOM0.50%$4M44.4K
45GIBCGI INCCL A SUB VTG0.46%$4M34.8K
46COSTCOSTCO WHOLESALECOM0.45%$4M5.1K
47VETVERMILLION ENERGY INCCOM0.44%$4M299.3K
48WMTWAL MART STORES INCCOM0.44%$4M61.8K
49GILGILDAN ACTIVEWEAR INCCOM0.44%$4M99.0K
50GNTXGENTEX CORP.PUT0.43%$4M99.7K
51TSCOTRACTOR SUPPLY COCOM0.38%$3M12.2K
52SANOFI SAADR0.38%$3M65.8K
53ORANYORANGESPON ADR0.37%$3M268.0K
54GLWCORNING INC.COM0.37%$3M95.2K
55UNHUNITEDHEALTH GROUP INC COMCOM0.36%$3M6.1K
56EQIXEQUINIX INC.COM0.35%$3M3.6K
57CCITIGROUP INC.COM0.35%$3M46.6K
58GSKGSK PLCSPONSORED ADR0.33%$3M65.3K
59TJXTJX COMPANIES INC.COM0.30%$3M25.3K
60RCIROGERS COMMUNICATIONS INCCL B0.30%$3M62.6K
61SPGSIMON PPTY GROUP NEWCOM0.30%$3M16.3K
62AVBAVALONBAY CMNTYS INC.COM0.30%$2M13.5K
63VODVODAFONE GROUP PLCSPON ADR0.30%$2M280.1K
64WELLWELLTOWER INC.COM0.28%$2M25.6K
65TTENTOTAL ENERGIES SESPON ADR0.27%$2M32.5K
66COLDAMERICOLD REALTY TRUSTCOM0.26%$2M89.2K
67JNJJOHNSON & JOHNSONCOM0.26%$2M13.7K
68BROOKFIELD RENEWABLECL A SUB VTG0.25%$2M84.3K
69TRNOTERRENO REALTY CORP.COM0.22%$2M28.5K
70SAPSAP SESPON ADR0.21%$2M9.3K
71BXPBOSTON PROPORTIES INC.COM0.21%$2M27.5K
72CVECENOVUS ENERGY INC.COM0.05%$396,00019.8K
73BAMBROOKFIELD ASSET MGMT-ACL A LMT VTG0.03%$242,0005.8K

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 ↗.