CC
Cardinal Capital Management, Inc. 13F Filings & Institutional Holdings (Q3 2026)
Cardinal Capital Management, Inc.CIK: 0001518235
Diversified strategyMomentum followerQuality / disciplined sizing
Total reported value
$4.4B
Reporting period: 2026-09-30 · Number of holdings: 76
Cardinal Capital Management, Inc. disclosed 76 holdings in its latest 13F filing for the period ending 2026-09-30, with total reported value of $4.4B and a quarterly turnover rate of 22.9%.
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Personality snowflake
- Concentration
- 13.98
- Portfolio Stability
- 22.86
- Momentum
- 100
- Sector conviction
- 68.17
- Diversification
- 100
- Sizing Uniformity
- 87.6
Cardinal Capital Management, Inc.'s disclosed holdings carry a Herfindahl concentration index of 0.035 — mathematically equivalent to about 29 equally-sized positions, well below its 76 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.24), with a handful of outsized bets alongside many smaller positions.
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.govAdd SU
+101.0% $261.3M
Add PBA
+102.4% $161.4M
New buy STN
Trim CDNAF
-34.0% -$48.2M
Trim TRP
-0.6% -$21.5M
Trim CM
-8.2% -$20.8M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
Showing top 72 holdings (of 76 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | SU | Suncor Energy Inc | Stock-Energy | 9.77% | +5.68% | +101.01% | |
| 2 | PBA | Pembina Pipeline CORP | Stock-Energy | 7.47% | +3.41% | +102.40% | |
| 3 | MFC | Manulife Financial CORP | Stock-Financials | 3.97% | -0.61% | -12.40% | |
| 4 | RY | Royal Bank Of Canada | Stock-Financials | 3.97% | -0.49% | -0.63% | |
| 5 | BNS | Bank Of Nova Scotia | Stock-Financials | 3.84% | -0.40% | -7.95% | |
| 6 | BMO | Bank Of Montreal | Stock-Financials | 3.74% | -0.52% | -1.54% | |
| 7 | CM | Can Imperial Bk Of Commerce | Stock-Financials | 3.53% | -0.73% | -8.23% | |
| 8 | CP | Canadian Pacific Kansas City | Stock-Industrials | 3.36% | -0.20% | +1.80% | |
| 9 | TRP | Tc Energy CORP | Stock-Energy | 3.34% | -0.74% | -0.64% | |
| 10 | CCDBF | Ccl Industries Inc - Cl B | Stock-Other | 3.24% | -0.07% | +2.74% | |
| 11 | CNI | Canadian Natl Railway Co | Stock-Industrials | 3.22% | -0.39% | -5.10% | |
| 12 | GIL | Gildan Activewear Inc | Stock-Consumer Disc | 3.21% | -0.56% | +9.34% | |
| 13 | IFCZF | Intact Financial CORP | Stock-Other | 2.94% | -0.68% | +2.95% | |
| 14 | BN | Brookfield CORP | Stock-Financials | 2.76% | -0.59% | +2.29% | |
| 15 | SAPIF | Saputo Inc | Stock-Other | 2.69% | -0.21% | +1.20% | |
| 16 | STN | Stantec Inc | Stock-Other | 2.49% | +2.49% | NEW | |
| 17 | NTIOF | National Bank Of Canada | Stock-Other | 2.41% | -0.44% | -0.66% | |
| 18 | SLF | Sun Life Financial Inc | Stock-Financials | 2.09% | -0.13% | +0.64% | |
| 19 | CDNAF | Canadian Tire Corp-class A | Stock-Other | 2.05% | -1.31% | -34.02% | |
| 20 | ELEEF | Element Fleet Management Cor | Stock-Other | 1.84% | -0.64% | +1.86% | |
| 21 | ABBV | Abbvie Inc | Stock-Healthcare | 1.46% | -0.21% | -10.42% | |
| 22 | NXPI | NXP Semiconductors N.V. | Stock-Tech | 1.31% | +0.23% | +51.84% | |
| 23 | AMAT | Applied Materials Inc | Stock-Tech | 1.18% | -0.60% | -0.17% | |
| 24 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 1.12% | -0.12% | +1.00% | |
| 25 | URI | United Rentals Inc | Stock-Industrials | 1.12% | -0.24% | -0.85% | |
| 26 | CMI | Cummins Inc | Stock-Industrials | 1.10% | -0.55% | -1.96% | |
| 27 | EIFZF | Exchange Income CORP | Stock-Other | 1.09% | -0.01% | +13.15% | |
| 28 | SIEGY | Siemens Ag-spons Adr | Stock-Other | 1.04% | -0.10% | +0.31% | |
| 29 | V | Visa Inc-class A Shares | Stock-Financials | 0.98% | — | +1.68% | |
| 30 | SBGSY | Schneider Elect Se-unsp Adr | Stock-Other | 0.94% | -0.04% | +0.75% | |
| 31 | MSFT | Microsoft CORP | Stock-Tech | 0.94% | +0.22% | +0.77% | |
| 32 | APD | Air Products & Chemicals Inc | Stock-Materials | 0.87% | -0.11% | +0.21% | |
| 33 | AVGO | Broadcom Inc | Stock-Tech | 0.87% | +0.06% | +23.86% | |
| 34 | WFC | Wells Fargo & Co | Stock-Financials | 0.86% | -0.08% | +0.75% | |
| 35 | CARR | Carrier Global CORP | Stock-Industrials | 0.86% | -0.16% | +19.41% | |
| 36 | TEL | TE Connectivity plc | Stock-Tech | 0.84% | +0.08% | +12.88% | |
| 37 | NEE | Nextera Energy Inc | Stock-Utilities | 0.79% | -0.14% | +4.91% | |
| 38 | ETR | Entergy CORP | Stock-Utilities | 0.78% | -0.12% | +7.48% | |
| 39 | HD | Home Depot Inc | Stock-Consumer Disc | 0.78% | -0.24% | +0.94% | |
| 40 | BKNG | Booking Holdings Inc | Stock-Consumer Disc | 0.76% | -0.13% | +0.23% | |
| 41 | NTR | Nutrien LTD | Stock-Materials | 0.73% | +0.05% | +1.01% | |
| 42 | BDX | Becton Dickinson And Co | Stock-Healthcare | 0.72% | +0.07% | -0.54% | |
| 43 | BOWFF | Boardwalk Real Estate Invest | Stock-Other | 0.70% | -0.08% | +0.79% | |
| 44 | MRK | Merck & Co. Inc. | Stock-Healthcare | 0.67% | +0.03% | -1.14% | |
| 45 | MDT | Medtronic plc | Stock-Healthcare | 0.67% | +0.05% | +3.44% | |
| 46 | ENLAY | Enel Spa - Unspon Adr | Stock-Other | 0.63% | -0.16% | -1.28% | |
| 47 | UL | Unilever Plc-sponsored Adr | Stock-Consumer Staples | 0.62% | -0.02% | +1.96% | |
| 48 | SAP | Sap Se-sponsored Adr | Stock-Tech | 0.43% | +0.09% | -0.06% | |
| 49 | USB | US Bancorp | Stock-Financials | 0.43% | -0.05% | -0.34% | |
| 50 | COP | Conocophillips | Stock-Energy | 0.41% | +0.06% | +3.37% |
1–50 of 72
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Data Source Notice: AlphaSMO is the web's most authoritative 13F / Inside Trader database. Institutional holdings and insider trades presented here are precisely computed to deliver accurate portfolio reporting.
Portfolio Performance
Performance for Q4 2026
-4.4%
Performance Last 4 Quarters
+20.9%
- Stdev
- +13%
- Beta
- +0.74
- Alpha
- +6.8%
- Max Drawdown
- -6.5%
- Annualized Perf
- +25.2%
- Batting Avg vs S&P
- +52.8%
- Sortino
- +3.93
- Stutzer
- +0.53
- Treynor
- +0.32
- Sterling
- +1.64
- Calmar
- +3.89
- Information Ratio
- +0.08
- Tracking Error
- +9.8%
- Stdev Down
- +6%
- Winning Months %
- +72.2%
- Losing Months %
- +27.8%
- Best 12 Months
- +39.2%
- Worst 12 Months
- +10.1%
- Efficiency Ratio
- +0.76
- Sharpe
- +1.81
- Stdev Sectors
- +11.3%
- Skewness
- -0.16
- Kurtosis
- -0.44
- Upside Potential
- +5.5
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q3 | 76 | $4.4B | 23 | ||
| 2026 Q2 | 71 | $4.1B | 25 | ||
| 2026 Q1 | 69 | $3.7B | 33 | ||
| 2025 Q4 | 72 | $4.5B | 43 | ||
| 2025 Q3 | 77 | $3.5B | 22 | ||
| 2025 Q2 | 68 | $3.2B | 0 | ||
| 2025 Q1 | 71 | $2.9B | 100 | ||
| 2024 Q4 | 69 | $2.9B | 0 | ||
| 2024 Q3 | 60 | $2.4B | 0 | ||
| 2024 Q2 | 70 | $2.6B | 0 | ||
| 2024 Q1 | 54 | $2.3B | 0 | ||
| 2023 Q4 | 52 | $2.1B | 0 | ||
| 2023 Q3 | 56 | $1.9B | 0 | ||
| 2023 Q2 | 55 | $2.0B | 0 | ||
| 2023 Q1 | 55 | $1.8B | 0 | ||
| 2022 Q4 | 54 | $1.8B | 0 | ||
| 2022 Q3 | 54 | $1.6B | 0 | ||
| 2022 Q2 | 77 | $1.8B | 0 | ||
| 2022 Q1 | 88 | $2.1B | 0 | ||
| 2021 Q4 | 84 | $2.1B | 0 | ||
| 2021 Q3 | 82 | $1.8B | 0 | ||
| 2021 Q2 | 77 | $1.8B | 100 | ||
| 2021 Q1 | 79 | $1.7B | 23 | ||
| 2020 Q4 | 78 | $1.6B | 23 | ||
| 2020 Q3 | 73 | $1.4B | 38 | ||
| 2020 Q2 | 73 | $1.2B | 47 | ||
| 2020 Q1 | 70 | $1.2B | 46 | ||
| 2019 Q4 | 70 | $1.5B | 36 | ||
| 2019 Q3 | 61 | $1.1B | 11 | ||
| 2019 Q2 | 46 | $1.0B | 17 | ||
| 2019 Q1 | 57 | $999.9M | 16 | ||
| 2018 Q4 | 52 | $853.3M | 25 | ||
| 2018 Q3 | 65 | $1.0B | 11 | ||
| 2018 Q2 | 75 | $1.0B | 11 | ||
| 2018 Q1 | 65 | $1.1B | 18 | ||
| 2017 Q4 | 70 | $1.2B | 22 | ||
| 2017 Q3 | 63 | $1.1B | 13 | ||
| 2017 Q2 | 72 | $988.1M | 19 | ||
| 2017 Q1 | 59 | $965.3M | 15 | ||
| 2016 Q4 | 54 | $932.4M | 11 | ||
| 2016 Q3 | 64 | $884.8M | 11 | ||
| 2016 Q2 | 45 | $909.2M | 6 | ||
| 2016 Q1 | 44 | $885.1M | 22 | ||
| 2015 Q4 | 41 | $798.6M | 17 | ||
| 2015 Q3 | 54 | $814.1M | 17 | ||
| 2015 Q2 | 44 | $920.7M | 19 | ||
| 2015 Q1 | 42 | $907.4M | 29 | ||
| 2014 Q4 | 41 | $915.9M | 40 | ||
| 2014 Q3 | 43 | $1.3B | 100 | ||
| 2014 Q2 | 42 | $234.5M | 27 | ||
| 2014 Q1 | 43 | $211.5M | — |
Holding changes this quarter
Cardinal Capital Management, Inc.'s most significant position changes for 2026-09-30: New buy: Stantec Inc (STN); Sold out: Lvmh Moet Hennessy-unsp Adr (LVMUY); New buy: Granite Real Estate Investme (GRTUF); Sold out: T-mobile US Inc (TMUS); New buy: Constellation Software Inc (CNSWF).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | SU | Suncor Energy Inc | +5.7% | +101.01% | Add |
| 2 | PBA | Pembina Pipeline CORP | +3.4% | +102.40% | Add |
| 3 | STN | Stantec Inc | +2.5% | NEW | New buy |
| 4 | GRTUF | Granite Real Estate Investme | +0.4% | NEW | New buy |
| 5 | NXPI | NXP Semiconductors N.V. | +0.2% | +51.84% | Add |
| 6 | MSFT | Microsoft CORP | +0.2% | +0.77% | Add |
| 7 | SAP | Sap Se-sponsored Adr | +0.1% | -0.06% | Trim |
| 8 | TEL | TE Connectivity plc | +0.1% | +12.88% | Add |
| 9 | BDX | Becton Dickinson And Co | +0.1% | -0.54% | Trim |
| 10 | AVGO | Broadcom Inc | +0.1% | +23.86% | Add |
| 11 | COP | Conocophillips | +0.1% | +3.37% | Add |
| 12 | NTR | Nutrien LTD | +0.1% | +1.01% | Add |
| 13 | MDT | Medtronic plc | +0.1% | +3.44% | Add |
| 14 | MRK | Merck & Co. Inc. | 0% | -1.14% | Trim |
| 15 | AJG | Arthur J Gallagher & Co | 0% | +16.78% | Add |
| 16 | NNWWF | North West Co Inc/the | 0% | +2.22% | Add |
| 17 | CNSWF | Constellation Software Inc | 0% | NEW | New buy |
| 18 | V | Visa Inc-class A Shares | — | +1.68% | Add |
| 19 | CNQ | Canadian Natural Resources | — | +33.17% | Add |
| 20 | BAM | Brookfield Asset Mgmt-a | — | +2.92% | Add |
| 21 | FTS | Fortis Inc | — | -3.27% | Trim |
| 22 | AEM | Agnico Eagle Mines LTD | — | — | Unchanged |
| 23 | AMGN | Amgen Inc | — | -23.53% | Trim |
| 24 | TXN | Texas Instruments Inc | — | — | Unchanged |
| 25 | AAPL | Apple Inc | — | -7.08% | Trim |
| 26 | BAC | Bank Of America CORP | — | — | Unchanged |
| 27 | ✓ | — | NEW | New buy | |
| 28 | DLMAF | Dollarama Inc | — | +1.03% | Add |
| 29 | ADI | Analog Devices Inc | — | — | Unchanged |
| 30 | EIFZF | Exchange Income CORP | 0% | +13.15% | Add |
| 31 | TMUS | T-mobile US Inc | 0% | EXIT | Sold out |
| 32 | IBDRY | Iberdrola Sa-sponsored Adr | 0% | -0.53% | Trim |
| 33 | TD | Toronto-dominion Bank | 0% | -1.25% | Trim |
| 34 | PNC | Pnc Financial Services Group | 0% | — | Unchanged |
| 35 | UL | Unilever Plc-sponsored Adr | 0% | +1.96% | Add |
| 36 | SBGSY | Schneider Elect Se-unsp Adr | 0% | +0.75% | Add |
| 37 | EQIX | Equinix Inc | 0% | -0.37% | Trim |
| 38 | EMA | Emera Inc | -0.1% | -1.05% | Trim |
| 39 | ✓ | -0.1% | +0.33% | Add | |
| 40 | USB | US Bancorp | -0.1% | -0.34% | Trim |
| 41 | CCDBF | Ccl Industries Inc - Cl B | -0.1% | +2.74% | Add |
| 42 | BOWFF | Boardwalk Real Estate Invest | -0.1% | +0.79% | Add |
| 43 | WFC | Wells Fargo & Co | -0.1% | +0.75% | Add |
| 44 | SIEGY | Siemens Ag-spons Adr | -0.1% | +0.31% | Add |
| 45 | APD | Air Products & Chemicals Inc | -0.1% | +0.21% | Add |
| 46 | ETR | Entergy CORP | -0.1% | +7.48% | Add |
| 47 | TSM | Taiwan Semiconductor-sp Adr | -0.1% | +1.00% | Add |
| 48 | BKNG | Booking Holdings Inc | -0.1% | +0.23% | Add |
| 49 | SLF | Sun Life Financial Inc | -0.1% | +0.64% | Add |
| 50 | NEE | Nextera Energy Inc | -0.1% | +4.91% | Add |
1–50 of 74
Filing History
FAQ
What is Cardinal Capital Management, Inc. and what type of investor is it?
Cardinal Capital Management, Inc. 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 $4.4B, spread across 76 disclosed positions.
What are Cardinal Capital Management, Inc.'s largest equity positions?
Based on the latest 13F filing, Cardinal Capital Management, Inc.'s top holdings by market value are:
1. Suncor Energy Inc (SU) — $430.4M (9.8%)
2. Pembina Pipeline CORP (PBA) — $329.2M (7.5%)
3. Manulife Financial CORP (MFC) — $175.1M (4.0%)
4. Royal Bank Of Canada (RY) — $174.9M (4.0%)
5. Bank Of Nova Scotia (BNS) — $169.4M (3.8%)
What changes did Cardinal Capital Management, Inc. make in its most recent portfolio filing?
In the latest reported quarter, Cardinal Capital Management, Inc. made 69 notable position adjustments: 4 new positions were initiated, 37 existing holdings were added to, 26 positions were partially reduced, and 2 were completely exited. The largest of these moves: New buy: Stantec Inc (STN); Sold out: Lvmh Moet Hennessy-unsp Adr (LVMUY); New buy: Granite Real Estate Investme (GRTUF); Sold out: T-mobile US Inc (TMUS); New buy: Constellation Software Inc (CNSWF)
What sectors does Cardinal Capital Management, Inc. focus on?
Cardinal Capital Management, Inc. is concentrated in the following sectors based on its current disclosed equity portfolio:
• Financials: 34.6%
• Energy: 27.7%
• Industrials: 12.6%
• Information Technology: 8.8%
• Consumer Discretionary: 6.2%
• Health Care: 4.6%
Investment Profile
Cardinal Capital Management, Inc. returned an annualized 25.2% over the trailing 36 months — outperforming the S&P 500 by 6.8 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.74 (less volatile than the market) and a 53% quarterly batting average against the index.
Its portfolio is broadly diversified and moderately active, with 34.6% of the portfolio concentrated in Financials.
It has added to its PBA position over the past two quarters (+$170.6M, now $329.2M), while trimming SAPIF over the same stretch (-$55.5M, still holding $118.5M).
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Developer Access
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