SEC 13F Intelligence

Managers / Q3 2025 · view latest →

GUARDIAN CAPITAL LP

CIK 0001224324 · 199 BAY ST. COMMERCE COURT WEST, SUITE 2700, P.O. BOX 201, TORONTO, A6, M5L 1E8 · 1-800-253-9181

Reported Value
$3.1B
Q3 2025
Positions
170
Filings on Record
30
2019–present window
Filed
Nov 12, 2025
original filing

Summary

Guardian Capital LP reported $3.1B in U.S.-listed holdings across 170 positions for Q3 2025.

Its largest position, RY, represents 7.5% of the portfolio.

Compared with Q2 2025, the fund opened 16 new positions and exited 3.

Portfolio Metrics

Turnover
+4.2%
vs prior filed quarter
Top-10 Concentration
+41.7%
share of reported value
Largest Position
+7.5%
Royal Bk Cda
New / Exited
16 / 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. 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
Q4 ’18: $4.8BQ4 ’18Q1 ’19: $5.4BQ2 ’19: $5.1BQ3 ’19: $5.0BQ4 ’19: $4.8BQ4 ’19Q1 ’20: $3.4BQ2 ’20: $3.9BQ3 ’20: $3.8BQ4 ’20: $4.3BQ4 ’20Q1 ’21: $6.0BQ2 ’21: $5.1BQ3 ’21: $4.8BQ4 ’21: $5.2BQ4 ’21Q1 ’22: $5.1BQ2 ’22: $3.3BQ3 ’22: $2.9BQ4 ’22: $3.0BQ4 ’22Q1 ’23: $3.1BQ2 ’23: $3.1BQ3 ’23: $2.7BQ4 ’23: $2.8BQ4 ’23Q1 ’24: $2.9BQ2 ’24: $2.7BQ3 ’24: $2.7BQ4 ’24: $2.7BQ4 ’24Q1 ’25: $2.5BQ2 ’25: $2.8BQ3 ’25: $3.1BQ4 ’25: $3.4BQ4 ’25Q1 ’26: $3.8Bfilingsflow.com

Portfolio Composition

By security type
Common Stock: 93.3%ADR: 2.6%Other: 2.5%REIT: 1.2%ETP: 0.3%
  • Common Stock · 93.3% · $2.9B
  • ADR · 2.6% · $82M
  • Other · 2.5% · $78M
  • REIT · 1.2% · $38M
  • ETP · 0.3% · $10M

Quarter-over-Quarter Changes full breakdown →

vs Q2 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
GILGILDAN ACTIVEWEAR INCNEW+323.7K323.7K+$19M$19M
TFIITFI INTL INCNEW+30.0K30.0K+$3M$3M
ISHARES TRNEW+109.8K109.8K+$2M$2M
IBATISHARES TRNEW+58.9K58.9K+$2M$2M
INVESCO EXCHANGE TRADED FD TNEW+22.7K22.7K+$2M$2M
PANWPALO ALTO NETWORKS INCNEW+6.7K6.7K+$1M$1M
NGGNATIONAL GRID PLCNEW+5.8K5.8K+$422,358$422,358
BYDBOYD GAMING CORPNEW+2.9K2.9K+$250,532$250,532

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

Holdings — Q3 2025

50 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1RYROYAL BK CDAhistory →COM7.52%$233M1.58M
2BMOBANK MONTREAL QUEhistory →COM7.23%$224M1.72M
3AEMAGNICO EAGLE MINES LTDhistory →COM5.12%$158M940.7K
4OTXOPEN TEXT CORPhistory →COM4.97%$154M4.12M
5BNBROOKFIELD CORPhistory →CL A LTD VT SH3.86%$120M1.74M
6CMCANADIAN IMPERIAL BANK OF COhistory →COM2.87%$89M1.11M
7MSFTMICROSOFT CORPhistory →COM2.56%$79M153.3K
8CRCCANADIAN NAT RES LTDhistory →COM2.54%$79M2.46M
9SUSUNCOR ENERGY INC NEWhistory →COM2.52%$78M1.87M
10GIB/ACGI INChistory →CL A SUB VTG2.47%$77M860.2K
11AAPLAPPLE INChistory →COM2.36%$73M286.7K
12QSRRESTAURANT BRANDS INTL INChistory →COM2.33%$72M1.12M
13TDTORONTO DOMINION BK ONThistory →COM NEW2.05%$63M793.6K
14AVGOBROADCOM INChistory →COM2.03%$63M190.9K
15TTELUS CORPORATIONhistory →COM1.85%$57M3.65M
16CPCANADIAN PACIFIC KANSAS CITYhistory →COM1.79%$55M743.1K
17COSTCOSTCO WHSL CORP NEWhistory →COM1.72%$53M57.5K
18WMBWILLIAMS COS INChistory →COM1.57%$49M768.9K
19ENBENBRIDGE INChistory →COM1.41%$44M868.3K
20TECK/BTECK RESOURCES LTDhistory →CL B1.31%$41M925.9K
21WPMWHEATON PRECIOUS METALS CORPhistory →COM1.21%$38M335.7K
22MAMASTERCARD INCORPORATEDhistory →CL A1.21%$37M65.6K
23ASML HOLDING N VN Y REGISTRY SHS1.19%$37M38.1K
24FTSFORTIS INChistory →COM1.17%$36M711.8K
25GOOGLALPHABET INChistory →CAP STK CL A1.11%$34M141.0K
26CNRCANADIAN NATL RY COhistory →COM1.09%$34M359.2K
27MCDMCDONALDS CORPhistory →COM1.08%$34M110.4K
28BNSBANK NOVA SCOTIA HALIFAXhistory →COM1.04%$32M496.7K
29STNSTANTEC INChistory →COM1.00%$31M286.9K
30METAMETA PLATFORMS INChistory →CL A0.95%$30M40.2K
31RSGREPUBLIC SVCS INChistory →COM0.91%$28M123.1K
32MFCMANULIFE FINL CORPhistory →COM0.90%$28M894.2K
33JNJJOHNSON & JOHNSONhistory →COM0.89%$27M148.0K
34LIESUN LIFE FINANCIAL INC.history →COM0.88%$27M452.1K
35SHELSHELL PLChistory →SPON ADS0.78%$24M339.7K
36MSIMOTOROLA SOLUTIONS INChistory →COM NEW0.76%$24M51.6K
37TOTALENERGIES SESPONSORED ADS0.74%$23M385.1K
38EQIXEQUINIX INChistory →COM0.73%$22M28.7K
39TJXTJX COS INC NEWhistory →COM0.71%$22M151.8K
40HIGHARTFORD INSURANCE GROUP INChistory →COM0.70%$22M162.4K
41RCI/BROGERS COMMUNICATIONS INChistory →CL B0.69%$21M623.5K
42BEPCBROOKFIELD RENEWABLE CORPhistory →CL A EX SUB VTG0.68%$21M613.8K
43WMWASTE MGMT INC DELhistory →COM0.68%$21M95.3K
44BROOKFIELD INFRAST PARTNERSLP INT UNIT0.68%$21M635.7K
45HDHOME DEPOT INChistory →COM0.67%$21M51.5K
46BBARRICK MNG CORPhistory →COM SHS0.63%$20M597.4K
47ABBVABBVIE INChistory →COM0.62%$19M82.5K
48CCOCAMECO CORPhistory →COM0.61%$19M224.5K
49GILGILDAN ACTIVEWEAR INChistory →COM0.60%$19M323.7K
50PPLPEMBINA PIPELINE CORPhistory →COM0.59%$18M451.1K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$3.8B240May 15, 202613F-HRchanges · EDGAR ↗
Q4 2025$3.4B241Feb 18, 202613F-HRchanges · EDGAR ↗
Q3 2025$3.1B170Nov 12, 202513F-HRchanges · EDGAR ↗
Q2 2025$2.8B157Aug 7, 202513F-HRchanges · EDGAR ↗
Q1 2025$2.5B150May 14, 202513F-HRchanges · EDGAR ↗
Q4 2024$2.7B143Feb 14, 202513F-HRchanges · EDGAR ↗
Q3 2024$2.7B128Nov 12, 202413F-HRchanges · EDGAR ↗
Q2 2024$2.7B129Aug 13, 202413F-HRchanges · EDGAR ↗
Q1 2024$2.9B148May 14, 202413F-HRchanges · EDGAR ↗
Q4 2023$2.8B154Feb 8, 202413F-HRchanges · EDGAR ↗
Q3 2023$2.7B152Nov 13, 202313F-HRchanges · EDGAR ↗
Q2 2023$3.1B151Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$3.1B157May 15, 202313F-HRchanges · EDGAR ↗
Q4 2022$3.0B167Feb 14, 202313F-HRchanges · EDGAR ↗
Q3 2022$2.9B171Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$3.3B175Aug 12, 202213F-HRchanges · EDGAR ↗
Q1 2022$5.1B176May 16, 202213F-HRchanges · EDGAR ↗
Q4 2021$5.2B186Feb 10, 202213F-HRchanges · EDGAR ↗
Q3 2021$4.8B160Nov 15, 202113F-HRchanges · EDGAR ↗
Q2 2021$5.1B163Aug 17, 202113F-HRchanges · EDGAR ↗
Q1 2021$6.0B164May 17, 202113F-HRchanges · EDGAR ↗
Q4 2020$4.3B149Feb 12, 202113F-HRchanges · EDGAR ↗
Q3 2020$3.8B153Nov 16, 202013F-HRchanges · EDGAR ↗
Q2 2020$3.9B146Aug 13, 202013F-HRchanges · EDGAR ↗
Q1 2020$3.4B144May 15, 202013F-HRchanges · EDGAR ↗
Q4 2019$4.8B162Feb 13, 202013F-HRchanges · EDGAR ↗
Q3 2019$5.0B159Nov 14, 201913F-HRchanges · EDGAR ↗
Q2 2019$5.1B180Aug 14, 201913F-HRchanges · EDGAR ↗
Q1 2019$5.4B181May 15, 201913F-HRchanges · EDGAR ↗
Q4 2018$4.8B182Feb 13, 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 ↗.