CC
Cardinal Capital Management SEC 13F Filing (Q3 2026) — Holdings & Portfolio
Cardinal Capital ManagementCIK: 0001434845
Diversified strategyMomentum followerQuality / disciplined sizing
Total reported value
$861.2M
Reporting period: 2026-09-30 · Number of holdings: 140
Cardinal Capital Management disclosed 140 holdings in its latest 13F filing for the period ending 2026-09-30, with total reported value of $861.2M and a quarterly turnover rate of 16.2%.
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Personality snowflake
- Concentration
- 5.73
- Portfolio Stability
- 16.22
- Momentum
- 100
- Sector conviction
- 49.08
- Diversification
- 100
- Sizing Uniformity
- 89.93
Cardinal Capital Management's disclosed holdings carry a Herfindahl concentration index of 0.014 — mathematically equivalent to about 70 equally-sized positions, well below its 140 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 1.01), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govNew buy 30233Q108
Sold out XOM
Add MSFT
+1.5% $7.4M
Trim AGX
+0.9% -$4.6M
Sold out WBS
Trim CMI
+2.9% -$3.8M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | LLY | Eli Lilly & Co | Stock-Healthcare | 3.58% | -0.27% | +0.45% | |
| 2 | JNJ | Johnson & Johnson | Stock-Healthcare | 3.56% | +0.03% | +1.00% | |
| 3 | AAPL | Apple Inc | Stock-Tech | 3.36% | +0.33% | +0.42% | |
| 4 | MSFT | Microsoft CORP | Stock-Tech | 3.03% | +0.77% | +1.49% | |
| 5 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 2.58% | -0.17% | +1.48% | |
| 6 | BNY | Bank Of New York Mellon CORP | Stock-Financials | 2.28% | -0.09% | +0.19% | |
| 7 | JPM | Jpmorgan Chase & Co | Stock-Financials | 2.26% | -0.05% | +0.74% | |
| 8 | ✓ | Stock-Other | 2.22% | +2.22% | NEW | ||
| 9 | COST | Costco Wholesale CORP | Stock-Consumer Staples | 2.21% | -0.12% | +1.31% | |
| 10 | DE | Deere & Co | Stock-Industrials | 2.20% | +0.08% | +2.16% | |
| 11 | CSCO | Cisco Systems Inc | Stock-Tech | 1.98% | -0.24% | +1.60% | |
| 12 | WMT | Walmart Inc | Stock-Consumer Staples | 1.91% | -0.20% | +2.63% | |
| 13 | MRK | Merck & Co. Inc. | Stock-Healthcare | 1.69% | +0.18% | +3.64% | |
| 14 | EMR | Emerson Electric Co | Stock-Industrials | 1.65% | +0.12% | +3.53% | |
| 15 | A | Agilent Technologies Inc | Stock-Healthcare | 1.56% | +0.35% | +3.80% | |
| 16 | QCOM | Qualcomm Inc | Stock-Tech | 1.55% | -0.01% | +3.92% | |
| 17 | KEYS | Keysight Technologies In | Stock-Tech | 1.44% | +0.04% | +3.15% | |
| 18 | LH | Labcorp Holdings Inc | Stock-Healthcare | 1.44% | +0.14% | +4.61% | |
| 19 | ECL | Ecolab Inc | Stock-Materials | 1.43% | -0.02% | +3.78% | |
| 20 | ADP | Automatic Data Processing | Stock-Tech | 1.41% | +0.19% | +4.41% | |
| 21 | COP | Conocophillips | Stock-Energy | 1.40% | +0.24% | +4.52% | |
| 22 | ITW | Illinois Tool Works | Stock-Industrials | 1.36% | -0.07% | +4.06% | |
| 23 | CMI | Cummins Inc | Stock-Industrials | 1.29% | -0.51% | +2.87% | |
| 24 | IBM | Intl Business Machines CORP | Stock-Tech | 1.21% | -0.31% | +5.92% | |
| 25 | TFC | Truist Financial CORP | Stock-Financials | 1.17% | -0.08% | +4.98% | |
| 26 | STT | State Street CORP | Stock-Financials | 1.14% | +0.01% | +2.14% | |
| 27 | LOW | Lowe's Cos Inc | Stock-Consumer Disc | 1.09% | -0.20% | +5.44% | |
| 28 | PG | Procter & Gamble Co/the | Stock-Consumer Staples | 1.09% | +0.03% | +7.77% | |
| 29 | MMM | 3m Co | Stock-Industrials | 1.09% | +0.03% | +4.98% | |
| 30 | SBUX | Starbucks CORP | Stock-Consumer Disc | 1.06% | -0.09% | +4.46% | |
| 31 | HAS | Hasbro Inc | Stock-Consumer Disc | 1.06% | +0.06% | +4.69% | |
| 32 | FFIV | F5 Inc | Stock-Tech | 1.05% | +0.07% | +4.41% | |
| 33 | TROW | T Rowe Price Group Inc | Stock-Financials | 0.94% | -0.07% | +6.68% | |
| 34 | NFG | National Fuel Gas Co | Stock-Energy | 0.94% | -0.01% | +5.33% | |
| 35 | MDT | Medtronic plc | Stock-Healthcare | 0.93% | +0.12% | +8.61% | |
| 36 | RY | Royal Bank Of Canada | Stock-Financials | 0.92% | -0.07% | +1.96% | |
| 37 | ODC | Oil-dri CORP Of America | Stock-Other | 0.92% | -0.16% | -0.11% | |
| 38 | IDXX | Idexx Laboratories Inc | Stock-Healthcare | 0.91% | +0.01% | +5.64% | |
| 39 | KO | Coca-cola Co/the | Stock-Consumer Staples | 0.88% | +0.05% | +4.10% | |
| 40 | PSX | Phillips 66 | Stock-Energy | 0.87% | +0.29% | +3.62% | |
| 41 | NVS | Novartis Ag-sponsored Adr | Stock-Healthcare | 0.84% | -0.10% | +1.82% | |
| 42 | BMY | Bristol-myers Squibb Co | Stock-Healthcare | 0.80% | +0.07% | +5.14% | |
| 43 | REGN | Regeneron Pharmaceuticals | Stock-Healthcare | 0.77% | +0.14% | +3.76% | |
| 44 | BDX | Becton Dickinson And Co | Stock-Healthcare | 0.76% | +0.14% | +8.27% | |
| 45 | UTHR | United Therapeutics CORP | Stock-Healthcare | 0.76% | -0.02% | +0.53% | |
| 46 | BNS | Bank Of Nova Scotia | Stock-Financials | 0.69% | +0.03% | +3.87% | |
| 47 | SAP | Sap Se-sponsored Adr | Stock-Tech | 0.69% | +0.18% | +2.72% | |
| 48 | MKC | Mccormick & Co-non Vtg Shrs | Stock-Consumer Staples | 0.66% | -0.04% | +7.77% | |
| 49 | CW | Curtiss-wright CORP | Stock-Industrials | 0.65% | -0.29% | +1.10% | |
| 50 | SHEL | Shell Plc-adr | Stock-Energy | 0.65% | +0.11% | +2.27% |
1–50 of 140
* This report is exclusively curated by the AlphaSMO team. AlphaSMO is the web's most authoritative 13F / Inside Trader database, delivering precise insider trading and institutional holdings insights.
Portfolio Performance
Performance for Q4 2026
+3.1%
Performance Last 4 Quarters
+21.8%
- Stdev
- +10.9%
- Beta
- +0.7
- Alpha
- +3.2%
- Max Drawdown
- -6.5%
- Annualized Perf
- +19.9%
- Batting Avg vs S&P
- +41.7%
- Sortino
- +3.24
- Stutzer
- +0.49
- Treynor
- +0.27
- Sterling
- +1.3
- Calmar
- +3.03
- Information Ratio
- -0.45
- Tracking Error
- +7.7%
- Stdev Down
- +5.8%
- Winning Months %
- +77.8%
- Losing Months %
- +22.2%
- Best 12 Months
- +28%
- Worst 12 Months
- +3.5%
- Efficiency Ratio
- +0.67
- Sharpe
- +1.72
- Stdev Sectors
- +8%
- Skewness
- -0.59
- Kurtosis
- -0.42
- Upside Potential
- +4.72
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q3 | 140 | $861.2M | 16 | ||
| 2026 Q2 | 138 | $826.3M | 18 | ||
| 2026 Q1 | 136 | $775.6M | 14 | ||
| 2025 Q4 | 133 | $755.0M | 13 | ||
| 2025 Q3 | 131 | $723.4M | 18 | ||
| 2025 Q2 | 128 | $681.4M | 0 | ||
| 2025 Q1 | 132 | $645.7M | 100 | ||
| 2024 Q4 | 131 | $637.7M | 0 | ||
| 2024 Q3 | 130 | $642.8M | 0 | ||
| 2024 Q2 | 134 | $593.7M | 0 | ||
| 2024 Q1 | 139 | $614.6M | 0 | ||
| 2023 Q4 | 135 | $528.1M | 0 | ||
| 2023 Q3 | 138 | $491.3M | 0 | ||
| 2023 Q2 | 137 | $496.6M | — | ||
| 2023 Q1 | 138 | $482.0M | 0 | ||
| 2022 Q4 | 138 | $469.8M | 0 | ||
| 2022 Q3 | 141 | $422.5M | 0 | ||
| 2022 Q2 | 140 | $437.0M | 0 | ||
| 2022 Q1 | 143 | $494.3M | 0 | ||
| 2021 Q4 | 141 | $505.0M | 0 | ||
| 2021 Q3 | 142 | $461.9M | 0 | ||
| 2021 Q2 | 141 | $473.7M | 100 | ||
| 2021 Q1 | 140 | $453.5M | 13 | ||
| 2020 Q4 | 140 | $422.4M | 16 | ||
| 2020 Q3 | 135 | $363.0M | 11 | ||
| 2020 Q2 | 131 | $347.6M | 18 | ||
| 2020 Q1 | 132 | $302.8M | 27 | ||
| 2019 Q4 | 131 | $385.1M | 23 | ||
| 2019 Q3 | 129 | $362.0M | 7 | ||
| 2019 Q2 | 128 | $352.4M | 11 | ||
| 2019 Q1 | 128 | $350.0M | 15 | ||
| 2018 Q4 | 120 | $303.4M | 17 | ||
| 2018 Q3 | 126 | $353.4M | 10 | ||
| 2018 Q2 | 126 | $330.3M | 14 | ||
| 2018 Q1 | 121 | $318.3M | 8 | ||
| 2017 Q4 | 121 | $330.5M | 12 | ||
| 2017 Q3 | 121 | $316.8M | 13 | ||
| 2017 Q2 | 118 | $302.5M | 11 | ||
| 2017 Q1 | 118 | $276.3M | 9 | ||
| 2016 Q4 | 118 | $262.6M | 11 | ||
| 2016 Q3 | 116 | $255.0M | 10 | ||
| 2016 Q2 | 116 | $246.0M | 9 | ||
| 2016 Q1 | 117 | $238.1M | 15 | ||
| 2015 Q4 | 118 | $223.9M | 18 | ||
| 2015 Q3 | 118 | $213.9M | 14 | ||
| 2015 Q2 | 120 | $229.0M | 16 | ||
| 2015 Q1 | 121 | $236.8M | 16 | ||
| 2014 Q4 | 111 | $218.6M | 14 | ||
| 2014 Q3 | 105 | $210.2M | 10 | ||
| 2014 Q2 | 102 | $201.7M | 15 | ||
| 2014 Q1 | 101 | $194.4M | 8 | ||
| 2013 Q4 | 95 | $195.1M | 11 | ||
| 2013 Q3 | 88 | $176.2M | 31 | ||
| 2013 Q2 | 86 | $168.9M | — |
Holding changes this quarter
Cardinal Capital Management's most significant position changes for 2026-09-30: New buy: ; Sold out: Exxon Mobil CORP (XOM); Sold out: Webster Financial CORP (WBS); New buy: Factset Research Systems Inc (FDS); New buy: Tractor Supply Company (TSCO).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | ✓ | +2.2% | NEW | New buy | |
| 2 | MSFT | Microsoft CORP | +0.8% | +1.49% | Add |
| 3 | A | Agilent Technologies Inc | +0.4% | +3.80% | Add |
| 4 | AAPL | Apple Inc | +0.3% | +0.42% | Add |
| 5 | PSX | Phillips 66 | +0.3% | +3.62% | Add |
| 6 | COP | Conocophillips | +0.2% | +4.52% | Add |
| 7 | ADP | Automatic Data Processing | +0.2% | +4.41% | Add |
| 8 | VEEV | Veeva Systems Inc-class A | +0.2% | +24.22% | Add |
| 9 | FDS | Factset Research Systems Inc | +0.2% | NEW | New buy |
| 10 | MRK | Merck & Co. Inc. | +0.2% | +3.64% | Add |
| 11 | SAP | Sap Se-sponsored Adr | +0.2% | +2.72% | Add |
| 12 | TSCO | Tractor Supply Company | +0.2% | NEW | New buy |
| 13 | LH | Labcorp Holdings Inc | +0.1% | +4.61% | Add |
| 14 | BDX | Becton Dickinson And Co | +0.1% | +8.27% | Add |
| 15 | REGN | Regeneron Pharmaceuticals | +0.1% | +3.76% | Add |
| 16 | DXCM | Dexcom Inc | +0.1% | +5.53% | Add |
| 17 | CACI | Caci International Inc -cl A | +0.1% | +2.65% | Add |
| 18 | EMR | Emerson Electric Co | +0.1% | +3.53% | Add |
| 19 | MDT | Medtronic plc | +0.1% | +8.61% | Add |
| 20 | IT | Gartner Inc | +0.1% | +5.37% | Add |
| 21 | SHEL | Shell Plc-adr | +0.1% | +2.27% | Add |
| 22 | HALO | Halozyme Therapeutics Inc | +0.1% | +6.10% | Add |
| 23 | CRL | Charles River Laboratories | +0.1% | +4.91% | Add |
| 24 | HAE | Haemonetics Corp/mass | +0.1% | +5.53% | Add |
| 25 | PFE | Pfizer Inc | +0.1% | +8.12% | Add |
| 26 | DE | Deere & Co | +0.1% | +2.16% | Add |
| 27 | FFIV | F5 Inc | +0.1% | +4.41% | Add |
| 28 | BMY | Bristol-myers Squibb Co | +0.1% | +5.14% | Add |
| 29 | MORN | Morningstar Inc | +0.1% | +5.90% | Add |
| 30 | HAS | Hasbro Inc | +0.1% | +4.69% | Add |
| 31 | IDCC | Interdigital Inc | +0.1% | +0.75% | Add |
| 32 | TM | Toyota Motor CORP -spon Adr | +0.1% | +6.44% | Add |
| 33 | KO | Coca-cola Co/the | +0.1% | +4.10% | Add |
| 34 | PAHC | Phibro Animal Health Corp-a | +0.1% | +4.07% | Add |
| 35 | KEYS | Keysight Technologies In | 0% | +3.15% | Add |
| 36 | DLB | Dolby Laboratories Inc-cl A | 0% | +4.77% | Add |
| 37 | TTE | TotalEnergies SE | 0% | +4.20% | Add |
| 38 | ALRM | Alarm.com Holdings Inc | 0% | +4.74% | Add |
| 39 | WAT | Waters CORP | 0% | +4.19% | Add |
| 40 | JNJ | Johnson & Johnson | 0% | +1.00% | Add |
| 41 | PG | Procter & Gamble Co/the | 0% | +7.77% | Add |
| 42 | MMM | 3m Co | 0% | +4.98% | Add |
| 43 | BNS | Bank Of Nova Scotia | 0% | +3.87% | Add |
| 44 | USLM | United States Lime & Mineral | 0% | +0.46% | Add |
| 45 | KE | Kimball Electronics Inc | 0% | +5.28% | Add |
| 46 | WOR | Worthington Enterprises Inc | 0% | +7.10% | Add |
| 47 | UTMD | Utah Medical Products Inc | 0% | +8.73% | Add |
| 48 | JKHY | Jack Henry & Associates Inc | 0% | +5.17% | Add |
| 49 | ✓ | 0% | +39.86% | Add | |
| 50 | MICC | The Magnum Ice Cream Company N. | 0% | NEW | New buy |
1–50 of 142
Filing History
FAQ
What is Cardinal Capital Management and what type of investor is it?
Cardinal Capital Management is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-09-30), the firm manages a tracked equity portfolio valued at approximately $861.2M, spread across 140 disclosed positions.
What are Cardinal Capital Management's largest equity positions?
Based on the latest 13F filing, Cardinal Capital Management's top holdings by market value are:
1. Eli Lilly & Co (LLY) — $30.8M (3.6%)
2. Johnson & Johnson (JNJ) — $30.7M (3.6%)
3. Apple Inc (AAPL) — $28.9M (3.4%)
4. Microsoft CORP (MSFT) — $26.1M (3.0%)
5. Alphabet Inc-cl A (GOOGL) — $22.2M (2.6%)
What changes did Cardinal Capital Management make in its most recent portfolio filing?
In the latest reported quarter, Cardinal Capital Management made 140 notable position adjustments: 4 new positions were initiated, 129 existing holdings were added to, 5 positions were partially reduced, and 2 were completely exited. The largest of these moves: New buy: ; Sold out: Exxon Mobil CORP (XOM); Sold out: Webster Financial CORP (WBS); New buy: Factset Research Systems Inc (FDS); New buy: Tractor Supply Company (TSCO)
What sectors does Cardinal Capital Management focus on?
Cardinal Capital Management is concentrated in the following sectors based on its current disclosed equity portfolio:
• Health Care: 24.6%
• Information Technology: 22.2%
• Financials: 13.9%
• Industrials: 13.9%
• Consumer Staples: 9.2%
• Consumer Discretionary: 5.5%
Investment Profile
Cardinal Capital Management returned an annualized 19.9% over the trailing 36 months — outperforming the S&P 500 by 3.2 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.70 (less volatile than the market) and a 42% quarterly batting average against the index.
Its portfolio is broadly diversified and long-term-holding.
It has added to its MSFT position over the past two quarters (+$7.7M, now $26.1M), while trimming AGX over the same stretch (-$5.3M, still holding $4.2M).
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Developer Access
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REST API
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