Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (27 quarters reported)
$470M in Q2 2013 → $2.22B now. Hover for any quarter.
As reported for the quarter ended December 31, 2019. Activity is the change in share count since the prior quarter's filing.
| Holding | % of portfolio | Activity | Shares | Value |
|---|---|---|---|---|
| Toronto-dominion Bank | 6.0% | Trimmed 17% | 2,382,758 | $134M |
| Royal Bank Of Canada | 5.3% | Trimmed 8.7% | 1,483,695 | $117M |
| Bank Of Nova Scotia | 4.3% | Trimmed 20% | 1,707,922 | $96.5M |
| Canadian National Railway Co. | 4.2% | Added 67% | 1,027,989 | $93M |
| Nutrien Ltd. | 4.0% | Added 19% | 1,860,741 | $89.1M |
| Enbridge Inc. | 3.8% | Trimmed 36% | 2,094,787 | $83.3M |
| Manulife Financial Corp. | 3.4% | Trimmed 13% | 3,710,943 | $75.3M |
| Restaurant Brands International Inc. | 3.1% | Added 53% | 1,076,701 | $68.6M |
| Rogers Communications Inc. | 2.6% | Trimmed 0.3% | 1,171,047 | $58.1M |
| Pembina Pipeline Corp. | 2.6% | Added 9.6% | 1,536,786 | $57M |
| Brookfield Asset Management Inc. | 2.4% | Added 59% | 930,281 | $53.8M |
| Telus Corp. | 2.4% | Trimmed 4.8% | 1,355,281 | $52.5M |
| Waste Connections Inc. | 2.3% | Added 86% | 571,114 | $51.9M |
| BI Brookfield Infrastructure Partners LP | 2.2% | Added 12% | 972,868 | $48.6M |
| Mcdonald's Corp. | 2.1% | Added 69% | 234,222 | $46.3M |
| The Progressive Corp. | 2.0% | Added 17% | 615,922 | $44.6M |
| The Home Depot Inc. | 2.0% | Added 88% | 198,313 | $43.3M |
| Cisco Systems Inc. | 1.9% | Added 11% | 891,612 | $42.8M |
| Unitedhealth Group Inc. | 1.6% | Trimmed 35% | 124,416 | $36.6M |
| Open Text Corp. | 1.6% | Trimmed 0.1% | 791,049 | $34.9M |
| Fortis Inc. | 1.5% | Added 569% | 828,944 | $34.4M |
| Johnson & Johnson | 1.5% | Trimmed 36% | 234,505 | $34.2M |
| Honeywell International Inc. | 1.5% | Added 64% | 183,085 | $32.4M |
| Algonquin Power & Utilities Corp. | 1.5% | Added 21% | 2,282,543 | $32.3M |
| Microsoft Corp. | 1.4% | Added 14% | 201,018 | $31.7M |
| 3m Co. | 1.3% | Trimmed 29% | 167,328 | $29.5M |
| Tyson Foods Inc. | 1.3% | Added 0.3% | 310,730 | $28.3M |
| SC Shaw Communications Inc. | 1.2% | Trimmed 11% | 1,348,700 | $27.4M |
| Lockheed Martin Corp. | 1.2% | Added 25% | 69,197 | $26.9M |
| AT American Tower Corp. REIT | 1.0% | Added 4.6% | 98,149 | $22.6M |
| Pfizer Inc. | 0.9% | Trimmed 36% | 503,827 | $19.7M |
| Bank Of America Corp. | 0.9% | Trimmed 24% | 547,082 | $19.3M |
| MA Mccormick And Co. Inc. | 0.8% | Trimmed 13% | 98,089 | $16.6M |
| Pepsico Inc. | 0.7% | Trimmed 22% | 121,110 | $16.6M |
| International Business Machines Corp. | 0.7% | Added 14% | 123,201 | $16.5M |
| CC Crown Castle International Corp. REIT | 0.7% | Trimmed 0.2% | 113,552 | $16.1M |
| Tc Energy Corp. | 0.6% | Trimmed 0.9% | 237,396 | $12.6M |
| Apple Inc. | 0.6% | Trimmed 11% | 42,945 | $12.6M |
| Accenture PLC | 0.5% | Added 777% | 51,102 | $10.8M |
| Bank Of Montreal | 0.5% | Added 0.9% | 135,163 | $10.5M |
| Analog Devices Inc. | 0.5% | New | 84,522 | $10M |
| Regions Financial Corp. | 0.4% | New | 543,453 | $9.33M |
| Kinder Morgan Inc. | 0.4% | Added 9.5% | 391,205 | $8.28M |
| SE Sempra Energy | 0.4% | Added 11% | 54,378 | $8.24M |
| O Oneok Inc. | 0.4% | Added 21% | 105,634 | $7.99M |
| Amazon.com Inc. | 0.4% | Added 17% | 4,249 | $7.85M |
| Jpmorgan Chase & Co. | 0.3% | Trimmed 10.0% | 51,759 | $7.22M |
| Alphabet Inc. | 0.3% | Added 2.3% | 5,131 | $6.87M |
| Cgi Inc. | 0.3% | Added 7.8% | 74,281 | $6.22M |
| WC The Williams Cos. Inc. | 0.3% | Added 13% | 237,572 | $5.64M |
| Sun Life Financial Inc. | 0.2% | Trimmed 13% | 113,121 | $5.16M |
| Verizon Communications Inc. | 0.2% | Trimmed 0.9% | 80,694 | $4.96M |
| SE Suncor Energy Inc. | 0.2% | Trimmed 93% | 138,217 | $4.53M |
| Wec Energy Group Inc. | 0.2% | Trimmed 27% | 48,876 | $4.51M |
| Consolidated Edison Inc. | 0.2% | Added 225% | 49,692 | $4.5M |
| Canadian Natural Resources Ltd. | 0.2% | Trimmed 94% | 138,469 | $4.48M |
| The Southern Co. | 0.2% | Added 7.2% | 69,238 | $4.41M |
| AG Alibaba Group Holding Ltd. ADR | 0.2% | Trimmed 6.1% | 20,153 | $4.27M |
| Visa Inc. | 0.2% | Trimmed 2.5% | 22,356 | $4.2M |
| American Water Works Co. Inc. | 0.2% | Added 27% | 32,546 | $4M |
Showing top 60 of 649 positions.
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended December 31, 2019 · filed February 12, 2020
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Canadian Natural Resources Ltd. | Trimmed | −2,343,933 | −$75.8M | 0.2% |
| SE Suncor Energy Inc. | Trimmed | −1,750,549 | −$57.4M | 0.2% |
| Enbridge Inc. | Trimmed | −1,172,530 | −$46.6M | 3.8% |
| Canadian National Railway Co. | Added | +413,309 | +$37.4M | 4.2% |
| Fortis Inc. | Added | +704,964 | +$29.3M | 1.5% |
| Toronto-dominion Bank | Trimmed | −472,228 | −$26.5M | 6.0% |
| Waste Connections Inc. | Added | +264,397 | +$24M | 2.3% |
| Restaurant Brands International Inc. | Added | +372,515 | +$23.7M | 3.1% |
| Bank Of Nova Scotia | Trimmed | −418,582 | −$23.6M | 4.3% |
| The Home Depot Inc. | Added | +92,870 | +$20.3M | 2.0% |
Showing the 10 largest of 552 changes.
quarter ended September 30, 2019 · filed November 12, 2019
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| The Progressive Corp. | Added | +519,062 | +$40.1M | 1.9% |
| Vermilion Energy Inc. | Exited | −1,554,520 | −$33.8M | — |
| Rogers Communications Inc. | Added | +626,341 | +$30.5M | 2.7% |
| The Home Depot Inc. | Trimmed | −121,787 | −$28.3M | 1.2% |
| Waste Connections Inc. | Added | +287,853 | +$26.4M | 1.3% |
| Toronto-dominion Bank | Added | +432,992 | +$25.2M | 7.9% |
| Emerson Electric Co. | Trimmed | −374,673 | −$25.1M | — |
| The Coca-cola Co. | Trimmed | −439,557 | −$23.9M | 0.1% |
| Royal Bank Of Canada | Trimmed | −289,921 | −$23.5M | 6.2% |
| Cisco Systems Inc. | Added | +433,369 | +$21.4M | 1.9% |
Showing the 10 largest of 334 changes.
quarter ended June 30, 2019 · filed July 30, 2019
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Enbridge Inc. | Added | +1,181,664 | +$42.7M | 5.8% |
| Bank Of Nova Scotia | Added | +631,295 | +$33.9M | 6.1% |
| Royal Bank Of Canada | Added | +362,469 | +$28.8M | 7.3% |
| Unitedhealth Group Inc. | Added | +105,653 | +$25.8M | 3.0% |
| Toronto-dominion Bank | Added | +428,773 | +$25.1M | 6.8% |
| T Transcanada Corp. | Exited | −494,816 | −$22.2M | — |
| SE Suncor Energy Inc. | Added | +691,492 | +$21.6M | 3.5% |
| Canadian Natural Resources Ltd. | Added | +675,542 | +$18.2M | 3.8% |
| 3m Co. | Added | +99,694 | +$17.3M | 1.7% |
| Rogers Communications Inc. | Added | +320,197 | +$17.1M | 1.4% |
Showing the 10 largest of 337 changes.
quarter ended March 31, 2019 · filed May 10, 2019
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Unitedhealth Group Inc. | Added | +130,552 | +$32.3M | 2.1% |
| Tyson Foods Inc. | New | +300,053 | +$20.8M | 1.2% |
| KC Kellogg Co. | Added | +330,435 | +$19M | 1.1% |
| SE Suncor Energy Inc. | Trimmed | −493,652 | −$16M | 3.1% |
| Canadian Natural Resources Ltd. | Trimmed | −574,150 | −$15.8M | 3.6% |
| SC Shaw Communications Inc. | Trimmed | −704,038 | −$14.7M | 1.4% |
| The Home Depot Inc. | Added | +71,730 | +$13.8M | 2.0% |
| Telus Corp. | Added | +369,828 | +$13.7M | 2.8% |
| International Business Machines Corp. | Trimmed | −85,028 | −$12M | 1.4% |
| Fortis Inc. | Trimmed | −322,335 | −$11.9M | 0.4% |
Showing the 10 largest of 339 changes.
quarter ended December 31, 2018 · filed February 08, 2019
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Manulife Financial Corp. | Added | +1,994,033 | +$28.3M | 3.5% |
| Bce Inc. | Trimmed | −487,799 | −$19.3M | 0.2% |
| Microsoft Corp. | Added | +159,563 | +$16.2M | 1.6% |
| Bank Of Nova Scotia | Trimmed | −325,028 | −$16.2M | 5.6% |
| Franco-nevada Corp. | Trimmed | −211,756 | −$14.8M | 0.1% |
| Nutrien Ltd. | Added | +278,711 | +$13.1M | 3.8% |
| BI Brookfield Infrastructure Partners LP | New | +366,774 | +$12.7M | 0.8% |
| International Business Machines Corp. | Added | +111,026 | +$12.6M | 1.8% |
| The Procter & Gamble Co. | Trimmed | −137,261 | −$12.6M | 0.1% |
| Duke Energy Corp. | Trimmed | −131,256 | −$11.3M | 0.2% |
Showing the 10 largest of 334 changes.
quarter ended September 30, 2018 · filed November 07, 2018
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SE Suncor Energy Inc. | Added | +749,469 | +$29M | 4.3% |
| Canadian National Railway Co. | Trimmed | −281,490 | −$25.3M | 3.0% |
| Manulife Financial Corp. | Added | +1,386,077 | +$24.8M | 1.9% |
| Pfizer Inc. | Trimmed | −384,213 | −$16.9M | 1.1% |
| Canadian Natural Resources Ltd. | Added | +466,255 | +$15.2M | 5.1% |
| Bank Of Nova Scotia | Added | +255,159 | +$15.2M | 6.9% |
| Franco-nevada Corp. | Added | +212,379 | +$13.3M | 0.8% |
| Johnson & Johnson | Trimmed | −95,126 | −$13.1M | 1.6% |
| The Home Depot Inc. | Trimmed | −59,012 | −$12.2M | 1.1% |
| T Transcanada Corp. | Trimmed | −292,795 | −$11.8M | 1.1% |
Showing the 10 largest of 352 changes.
quarter ended June 30, 2018 · filed August 10, 2018
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Canadian Natural Resources Ltd. | Added | +1,681,355 | +$60.7M | 5.1% |
| Bank Of Montreal | Trimmed | −745,885 | −$57.7M | 0.6% |
| SE Suncor Energy Inc. | Trimmed | −807,915 | −$32.9M | 3.1% |
| Bce Inc. | Trimmed | −684,669 | −$27.7M | 1.4% |
| Restaurant Brands International Inc. | Added | +407,908 | +$24.6M | 1.9% |
| Royal Bank Of Canada | Added | +320,498 | +$24.1M | 7.0% |
| Toronto-dominion Bank | Added | +318,454 | +$18.4M | 6.5% |
| Canadian National Railway Co. | Trimmed | −207,900 | −$17M | 4.3% |
| Nutrien Ltd. | Added | +291,193 | +$15.8M | 3.3% |
| Bank Of Nova Scotia | Added | +159,889 | +$9.05M | 6.2% |
Showing the 10 largest of 323 changes.
quarter ended March 31, 2018 · filed April 23, 2018
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Canadian Imperial Bank Of Commerce | Trimmed | −628,944 | −$55.5M | 0.1% |
| Nutrien Ltd. | New | +713,529 | +$33.7M | 2.2% |
| Bank Of Nova Scotia | Added | +472,609 | +$29.1M | 6.7% |
| A Agrium Inc. | Exited | −219,744 | −$25.3M | — |
| Mcdonald's Corp. | Added | +121,186 | +$19M | 2.2% |
| Fortis Inc. | Added | +492,869 | +$16.6M | 1.4% |
| Pembina Pipeline Corp. | Added | +481,333 | +$15M | 2.1% |
| SC Shaw Communications Inc. | Added | +686,505 | +$13.2M | 1.9% |
| Manulife Financial Corp. | Trimmed | −706,367 | −$13.1M | 0.7% |
| Open Text Corp. | Trimmed | −351,543 | −$12.2M | 1.3% |
Showing the 10 largest of 308 changes.
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