SEC 13F Intelligence

Managers / Q2 2024 · view latest →

LINCLUDEN MANAGEMENT LTD

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

Reported Value
$823M
Q2 2024
Positions
72
Filings on Record
29
2019–present window
Filed
Jul 24, 2024
original filing

Summary

Lincluden Management Ltd reported $823M in U.S.-listed holdings across 72 positions for Q2 2024.

Its largest position, RY, represents 8.1% of the portfolio.

Compared with Q1 2024, the fund opened 1 new position and exited 2.

Portfolio Metrics

Turnover
+4.8%
vs prior filed quarter
Top-10 Concentration
+52.6%
share of reported value
Largest Position
+8.1%
Royal Bank Of Canada
New / Exited
1 / 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: 91.1%REIT: 5.7%ADR: 2.5%Other: 0.6%
  • Common Stock · 91.1% · $750M
  • REIT · 5.7% · $47M
  • ADR · 2.5% · $21M
  • Other · 0.6% · $5M

Quarter-over-Quarter Changes full breakdown →

vs Q1 2024 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
BIPCBROOKFIELD INFRASTRUCTURE PANEW+638.9K638.9K+$18M$18M
VODVODAFONE GROUP PLCSOLD OUT−280.1K0−$2M$0
BXPBOSTON PROPORTIES INC.SOLD OUT−27.5K0−$2M$0
CNQCANADIAN NAT RES LTDADDED+49.4K108.4K−$633,000$4M
TRNOTERRENO REALTY CORP.ADDED+19.9K48.3K+$970,000$3M
EQIXEQUINIX INC.ADDED+1.9K5.5K+$1M$4M
EXREXTRA SPACE STORAGE INC.TRIMMED−18.3K18.2K−$3M$3M
UNHUNITEDHEALTH GROUP INC COMADDED+2.4K8.5K+$1M$4M

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

Holdings — Q2 2024

72 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1RYROYAL BANK OF CANADAhistory →COM8.10%$67M626.2K
2TDTORONTO DOMINION BK ONThistory →COM NEW7.33%$60M1.10M
3TRPTC ENERGY CORP.history →COM5.79%$48M1.26M
4BCEBCE INChistory →COM5.07%$42M1.29M
5CMCANADIAN IMPERIAL BANK OF COMMERCEhistory →COM4.80%$39M829.9K
6BNSBANK NOVA SCOTIA HALIFAXhistory →COM4.72%$39M848.8K
7BNBROOKFIELD CORPhistory →CLA LTD VTSH4.62%$38M914.6K
8MFCMANULIFE FINL CORP COMhistory →COM4.50%$37M1.39M
9CNICANADIAN NATIONAL RAILWAY COhistory →COM4.00%$33M278.7K
10PBAPEMBINA PIPELINE CORP.history →COM3.68%$30M817.1K
11TUTELUS CORP.history →COM3.68%$30M2.00M
12MGAMAGNA INTL INChistory →COM3.33%$27M654.3K
13SUSUNCOR ENERGY INChistory →COM NEW3.03%$25M653.5K
14QSRRESTAURANT BRANDS INTL INC.history →COM2.33%$19M271.6K
15BIPCBROOKFIELD INFRASTRUCTURE PAhistory →LP INT UNIT2.13%$18M638.9K
16BEPCBROOKFIELD RENEWABLE PARTNERS LPhistory →PARTNERSHIP UNIT2.05%$17M681.6K
17ORCLORACLE CORPhistory →COM1.41%$12M82.4K
18VZVERIZON COMMUNICATIONShistory →COM1.33%$11M265.8K
19CSCOCISCO SYSTEMS INC.history →COM1.30%$11M225.9K
20PFEPFIZER INChistory →COM1.20%$10M351.9K
21GOOGLALPHABET INC.history →CAP STK CL A1.10%$9M49.7K
22MSFTMICROSOFT CORP.COM0.97%$8M17.9K
23RMRRMR GROUP INC.CL A0.80%$7M290.0K
24GRANITE REAL ESTATE INVT TRUNIT0.78%$6M129.5K
25DEODIAGEO PLC-SPONS ADRSPON ADR NEW0.77%$6M50.6K
26CIGICOLLIERS INTL GROUP INC.SUB VTG SHS0.77%$6M56.6K
27KRKROGER COCOM0.76%$6M125.5K
28BACBANK OF AMERICA CORPORATIONCOM0.74%$6M153.3K
29USBUS BANCORPCOM NEW0.74%$6M153.0K
30FRTFEDERAL REALTY INVT TRSH BEN INT NEW0.73%$6M59.9K
31FSVFIRST SERVICE CORPCOM0.70%$6M37.7K
32CNCCENTENE CORP. DELCOM0.67%$6M83.7K
33INGING GROEP N VSPON ADR0.65%$5M311.5K
34DGDOLLAR GENERAL CORP.COM0.65%$5M40.4K
35AMTAMERICAN TOWER CORPCOM0.64%$5M27.1K
36JPMJPMORGAN & CHASE & CO COMCOM0.62%$5M25.2K
37CPTCAMDEN PROPERTY TRUSTSH BEN INT0.61%$5M45.9K
38HDHOME DEPOTCOM0.60%$5M14.4K
39UDRUDR INC.COM0.56%$5M112.9K
40UNHUNITEDHEALTH GROUP INC COMCOM0.52%$4M8.5K
41MSMORGAN STANLEYCOM0.52%$4M44.3K
42EOGEOG RESOURCESCOM0.52%$4M34.0K
43COSTCOSTCO WHOLESALECOM0.52%$4M5.0K
44EQIXEQUINIX INC.COM0.51%$4M5.5K
45CNQCANADIAN NAT RES LTDCOM0.47%$4M108.4K
46GIBCGI INCCL A SUB VTG0.44%$4M36.4K
47GLWCORNING INC.COM0.44%$4M92.9K
48DISDISNEY WALT COCOM0.43%$4M35.7K
49WMTWAL MART STORES INCCOM0.42%$3M50.9K
50GILGILDAN ACTIVEWEAR INCCOM0.42%$3M90.5K
51TSCOTRACTOR SUPPLY COCOM0.41%$3M12.4K
52GNTXGENTEX CORP.PUT0.40%$3M98.6K
53ORANYORANGESPON ADR0.39%$3M322.9K
54WBAWALLGREENS BOOTS ALLIANCE INCCOM0.39%$3M263.6K
55SANOFI SAADR0.39%$3M65.6K
56VETVERMILLION ENERGY INCCOM0.37%$3M273.9K
57CCITIGROUP INC.COM0.36%$3M46.5K
58TRNOTERRENO REALTY CORP.COM0.35%$3M48.3K
59EXREXTRA SPACE STORAGE INC.COM0.34%$3M18.2K
60COLDAMERICOLD REALTY TRUSTCOM0.34%$3M110.3K
61AVBAVALONBAY CMNTYS INC.COM0.34%$3M13.5K
62TJXTJX COMPANIES INC.COM0.34%$3M25.3K
63WELLWELLTOWER INC.COM0.32%$3M25.6K
64GSKGSK PLCSPONSORED ADR0.30%$3M65.2K
65RCIROGERS COMMUNICATIONS INCCL B0.30%$2M65.8K
66TTENTOTAL ENERGIES SESPON ADR0.26%$2M32.5K
67BROOKFIELD RENEWABLECL A SUB VTG0.25%$2M71.9K
68JNJJOHNSON & JOHNSONCOM0.24%$2M13.7K
69SPGSIMON PPTY GROUP NEWCOM0.21%$2M11.4K
70SAPSAP SESPON ADR0.16%$1M6.5K
71CVECENOVUS ENERGY INC.COM0.05%$389,00019.8K
72BAMBROOKFIELD ASSET MGMT-ACL A LMT VTG0.03%$220,0005.8K

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 ↗.