CP
Cardinal Point Capital Management ULC SEC 13F Filing (Q3 2026) — Holdings & Portfolio
Cardinal Point Capital Management ULCCIK: 0001950841
Diversified strategyMomentum followerLong-term holder
Total reported value
$1.8B
Reporting period: 2026-09-30 · Number of holdings: 283
Cardinal Point Capital Management ULC disclosed 283 holdings in its latest 13F filing for the period ending 2026-09-30, with total reported value of $1.8B and a quarterly turnover rate of 13.3%.
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Personality snowflake
- Concentration
- 13.52
- Portfolio Stability
- 13.26
- Momentum
- 100
- Sector conviction
- 51.86
- Diversification
- 100
- Sizing Uniformity
- 70.68
Cardinal Point Capital Management ULC's disclosed holdings carry a Herfindahl concentration index of 0.034 — mathematically equivalent to about 30 equally-sized positions, well below its 283 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 2.93), 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.
Sector classification currently covers about 40% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govNew buy IALT
Trim VBIL
-99.0% -$24.0M
Sold out VTEB
Add AAPL
-0.5% $10.1M
Add MSFT
-2.1% $6.2M
Add SU
-0.9% $5.1M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
Showing top 200 holdings (of 283 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | VTI | Vanguard Total Stock Mkt ETF | ETF-Other | 13.00% | +0.02% | +1.03% | |
| 2 | AAPL | Apple Inc | Stock-Tech | 4.44% | +0.49% | -0.51% | |
| 3 | USFR | Wisdomtree Floating Rate Tre | ETF-Other | 4.23% | +0.13% | +5.29% | |
| 4 | VEU | Vanguard Ftse All-world Ex-u | ETF-Other | 4.14% | -0.22% | -2.09% | |
| 5 | DFAX | Dimensional World Ex US Core | ETF-Other | 4.12% | +0.02% | +1.97% | |
| 6 | VGIT | Vanguard Intermediate-term T | ETF-Other | 3.90% | -0.06% | +4.46% | |
| 7 | LRGF | Ishares US Equity Factor ETF | ETF-Other | 3.26% | +0.10% | +2.44% | |
| 8 | DFAC | Dimensional US Core Equity 2 | ETF-Other | 2.64% | +0.03% | +3.15% | |
| 9 | DBMF | Imgp Dbi Managed Futures Str | ETF-Other | 2.35% | +0.17% | +3.31% | |
| 10 | IALT | Ishrs Sys Alt Act ETF | ETF-Other | 2.20% | +2.20% | NEW | |
| 11 | MUB | Ishares National Muni Bond E | ETF-Other | 2.10% | -0.14% | +1.50% | |
| 12 | RY | Royal Bank Of Canada | Stock-Financials | 2.07% | -0.19% | -2.14% | |
| 13 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 2.02% | -0.12% | +0.15% | |
| 14 | NVDA | Nvidia CORP | Stock-Tech | 1.96% | +0.22% | +0.43% | |
| 15 | PYLD | Pimco Multisector Bond Actv | ETF-Other | 1.92% | +0.01% | +7.45% | |
| 16 | TD | Toronto-dominion Bank | Stock-Financials | 1.84% | -0.13% | -1.92% | |
| 17 | BMO | Bank Of Montreal | Stock-Financials | 1.59% | -0.16% | -2.52% | |
| 18 | MINO | Pimco Municipal Income Oppor | ETF-Other | 1.45% | -0.08% | +4.21% | |
| 19 | SU | Suncor Energy Inc | Stock-Energy | 1.39% | +0.26% | -0.90% | |
| 20 | MSFT | Microsoft CORP | Stock-Tech | 1.34% | +0.33% | -2.13% | |
| 21 | IAU | Ishares Gold Trust | ETF-Commodities | 1.29% | +0.03% | +0.53% | |
| 22 | JPM | Jpmorgan Chase & Co | Stock-Financials | 1.11% | -0.02% | -0.86% | |
| 23 | MFC | Manulife Financial CORP | Stock-Financials | 1.09% | +0.02% | -1.39% | |
| 24 | JNJ | Johnson & Johnson | Stock-Healthcare | 1.07% | +0.02% | -0.25% | |
| 25 | BNS | Bank Of Nova Scotia | Stock-Financials | 1.06% | +0.01% | -2.40% | |
| 26 | TFLO | Ishares Treasury Floating Ra | ETF-Gov Bonds | 1.00% | -0.07% | -5.06% | |
| 27 | WMT | Walmart Inc | Stock-Consumer Staples | 0.99% | -0.03% | +7.23% | |
| 28 | CSCO | Cisco Systems Inc | Stock-Tech | 0.94% | -0.12% | -1.26% | |
| 29 | CNI | Canadian Natl Railway Co | Stock-Industrials | 0.90% | -0.01% | -0.01% | |
| 30 | NEM | Newmont CORP | Stock-Materials | 0.89% | +0.14% | -1.85% | |
| 31 | ENB | Enbridge Inc | Stock-Energy | 0.87% | -0.11% | +4.07% | |
| 32 | SUNC | Sunococorp LLC | Stock-Other | 0.81% | +0.04% | -0.94% | |
| 33 | TRP | Tc Energy CORP | Stock-Energy | 0.80% | -0.14% | -1.07% | |
| 34 | AEM | Agnico Eagle Mines LTD | Stock-Materials | 0.79% | +0.17% | +8.72% | |
| 35 | PM | Philip Morris International | Stock-Consumer Staples | 0.77% | +0.02% | -1.07% | |
| 36 | GDX | Vaneck Gold Miners ETF | ETF-Commodities | 0.72% | +0.08% | -0.78% | |
| 37 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 0.70% | -0.06% | -4.90% | |
| 38 | FTLS | First Trust Long/short Eqty | ETF-Other | 0.64% | — | -1.66% | |
| 39 | CNQ | Canadian Natural Resources | Stock-Energy | 0.64% | +0.12% | +5.23% | |
| 40 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 0.60% | -0.04% | -0.81% | |
| 41 | RCI | Rogers Communications Inc-b | Stock-Other | 0.59% | -0.02% | +4.20% | |
| 42 | CVS | Cvs Health CORP | Stock-Healthcare | 0.59% | -0.14% | — | |
| 43 | DFSU | Dimensional US Sus Core1 ETF | ETF-Other | 0.59% | +0.11% | +22.46% | |
| 44 | ORCL | Oracle CORP | Stock-Tech | 0.57% | -0.01% | +5.84% | |
| 45 | OTEX | Open Text CORP | Stock-Other | 0.55% | -0.01% | -1.28% | |
| 46 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 0.55% | +0.04% | +4.45% | |
| 47 | PFE | Pfizer Inc | Stock-Healthcare | 0.53% | +0.08% | +1.49% | |
| 48 | IBM | Intl Business Machines CORP | Stock-Tech | 0.52% | -0.10% | +8.71% | |
| 49 | BBUC | Brookfield Business Corp-a | Stock-Other | 0.51% | -0.09% | +0.58% | |
| 50 | PEP | Pepsico Inc | Stock-Consumer Staples | 0.51% | -0.04% | +0.04% |
1–50 of 200
Portfolio Performance
Performance for Q4 2026
+2.2%
Performance Last 4 Quarters
+16%
- Stdev
- +8.3%
- Beta
- +0.61
- Alpha
- +4.4%
- Max Drawdown
- -4.7%
- Annualized Perf
- +19.1%
- Batting Avg vs S&P
- +41.7%
- Sortino
- +4.7
- Stutzer
- +0.61
- Treynor
- +0.29
- Sterling
- +1.43
- Calmar
- +4.07
- Information Ratio
- -0.72
- Tracking Error
- +6.1%
- Stdev Down
- +3.8%
- Winning Months %
- +77.8%
- Losing Months %
- +22.2%
- Best 12 Months
- +30%
- Worst 12 Months
- +6.2%
- Efficiency Ratio
- +0.8
- Sharpe
- +2.15
- Stdev Sectors
- +8.6%
- Skewness
- -0.33
- Kurtosis
- +0.27
- Upside Potential
- +6.13
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q3 | 283 | $1.8B | 13 | ||
| 2026 Q2 | 294 | $1.8B | 15 | ||
| 2026 Q1 | 286 | $1.6B | 17 | ||
| 2025 Q4 | 260 | $1.5B | 13 | ||
| 2025 Q3 | 266 | $1.4B | 30 | ||
| 2025 Q2 | 242 | $1.3B | 0 | ||
| 2025 Q1 | 179 | $1.1B | 0 | ||
| 2024 Q4 | 84 | $629.9M | 0 | ||
| 2024 Q3 | 83 | $599.9M | 0 | ||
| 2024 Q2 | 73 | $574.8M | 0 | ||
| 2024 Q1 | 72 | $525.6M | 0 | ||
| 2023 Q4 | 69 | $413.5M | 0 | ||
| 2023 Q3 | 67 | $382.2M | 0 | ||
| 2023 Q2 | 68 | $332.3M | 0 | ||
| 2023 Q1 | 80 | $329.2M | 0 | ||
| 2022 Q4 | 69 | $289.6M | 0 |
Holding changes this quarter
Cardinal Point Capital Management ULC's most significant position changes for 2026-09-30: New buy: Ishrs Sys Alt Act ETF (IALT); Sold out: Vanguard Tax-exempt Bond ETF (VTEB); Sold out: Vanguard Growth ETF (VUG); Sold out: Ishares Esg Aware 60/40 Bala (EAOR); Sold out: Vanguard Small-cap Value ETF (VBR).
Showing top 200 changes by size (of 311 total)
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | IALT | Ishrs Sys Alt Act ETF | +2.2% | NEW | New buy |
| 2 | AAPL | Apple Inc | +0.5% | -0.51% | Trim |
| 3 | MSFT | Microsoft CORP | +0.3% | -2.13% | Trim |
| 4 | SU | Suncor Energy Inc | +0.3% | -0.90% | Trim |
| 5 | BGSI | THE Boyd Group Inc | +0.3% | +249.56% | Add |
| 6 | NVDA | Nvidia CORP | +0.2% | +0.43% | Add |
| 7 | DBMF | Imgp Dbi Managed Futures Str | +0.2% | +3.31% | Add |
| 8 | AEM | Agnico Eagle Mines LTD | +0.2% | +8.72% | Add |
| 9 | GFL | Gfl Environmental Inc-sub Vt | +0.2% | +785.00% | Add |
| 10 | NEM | Newmont CORP | +0.1% | -1.85% | Trim |
| 11 | USFR | Wisdomtree Floating Rate Tre | +0.1% | +5.29% | Add |
| 12 | CNQ | Canadian Natural Resources | +0.1% | +5.23% | Add |
| 13 | DFSU | Dimensional US Sus Core1 ETF | +0.1% | +22.46% | Add |
| 14 | LRGF | Ishares US Equity Factor ETF | +0.1% | +2.44% | Add |
| 15 | SPY | Ss Spdr S&p 500 ETF Trust-us | +0.1% | +35.31% | Add |
| 16 | GDX | Vaneck Gold Miners ETF | +0.1% | -0.78% | Trim |
| 17 | PFE | Pfizer Inc | +0.1% | +1.49% | Add |
| 18 | MDA | Mda Space LTD | +0.1% | NEW | New buy |
| 19 | ✓ | +0.1% | NEW | New buy | |
| 20 | EAGG | Ishares Esg Aware US Aggrega | +0.1% | +87.17% | Add |
| 21 | BMM | Blue Moon Metals Inc | +0.1% | +235.29% | Add |
| 22 | SUNC | Sunococorp LLC | 0% | -0.94% | Trim |
| 23 | GIB | Cgi Inc | 0% | +5.07% | Add |
| 24 | DFSI | Dimensional Int Sus Cor1 ETF | 0% | +26.63% | Add |
| 25 | AMZN | Amazon.com Inc | 0% | +4.45% | Add |
| 26 | ✓ | 0% | NEW | New buy | |
| 27 | EQX | Equinox Gold CORP | 0% | +51.95% | Add |
| 28 | DFAC | Dimensional US Core Equity 2 | 0% | +3.15% | Add |
| 29 | IAU | Ishares Gold Trust | 0% | +0.53% | Add |
| 30 | XLK | Ss Technology Select Sector | 0% | +19.77% | Add |
| 31 | SPXT | Proshares S&p 500 Ex-technol | 0% | NEW | New buy |
| 32 | MPC | Marathon Petroleum CORP | 0% | +62.30% | Add |
| 33 | VTI | Vanguard Total Stock Mkt ETF | 0% | +1.03% | Add |
| 34 | DFAX | Dimensional World Ex US Core | 0% | +1.97% | Add |
| 35 | MFC | Manulife Financial CORP | 0% | -1.39% | Trim |
| 36 | JNJ | Johnson & Johnson | 0% | -0.25% | Trim |
| 37 | PM | Philip Morris International | 0% | -1.07% | Trim |
| 38 | VTRS | Viatris Inc | 0% | -1.11% | Trim |
| 39 | EL | Estee Lauder Companies-cl A | 0% | +2.87% | Add |
| 40 | JPST | Jpmorgan Ultra-short Income | 0% | NEW | New buy |
| 41 | COF | Capital One Financial CORP | 0% | NEW | New buy |
| 42 | DIS | Walt Disney Co/the | 0% | +1.46% | Add |
| 43 | AIQ | Global X Art Intel & Tech | 0% | NEW | New buy |
| 44 | HPE | Hewlett Packard Enterprise | 0% | NEW | New buy |
| 45 | ABT | Abbott Laboratories | 0% | +86.96% | Add |
| 46 | PYLD | Pimco Multisector Bond Actv | 0% | +7.45% | Add |
| 47 | BNS | Bank Of Nova Scotia | 0% | -2.40% | Trim |
| 48 | V | Visa Inc-class A Shares | 0% | +0.92% | Add |
| 49 | VGT | Vanguard Info Tech ETF | 0% | +0.97% | Add |
| 50 | CVX | Chevron CORP | 0% | +27.11% | Add |
1–50 of 200
💡
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.
Filing History
FAQ
What is Cardinal Point Capital Management ULC and what type of investor is it?
Cardinal Point Capital Management ULC 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 $1.8B, spread across 283 disclosed positions.
What are Cardinal Point Capital Management ULC's largest equity positions?
Based on the latest 13F filing, Cardinal Point Capital Management ULC's top holdings by market value are:
1. Vanguard Total Stock Mkt ETF (VTI) — $234.1M (13.0%)
2. Apple Inc (AAPL) — $79.9M (4.4%)
3. Wisdomtree Floating Rate Tre (USFR) — $76.2M (4.2%)
4. Vanguard Ftse All-world Ex-u (VEU) — $74.6M (4.1%)
5. Dimensional World Ex US Core (DFAX) — $74.1M (4.1%)
What changes did Cardinal Point Capital Management ULC make in its most recent portfolio filing?
In the latest reported quarter, Cardinal Point Capital Management ULC made 185 notable position adjustments: 17 new positions were initiated, 71 existing holdings were added to, 69 positions were partially reduced, and 28 were completely exited. The largest of these moves: New buy: Ishrs Sys Alt Act ETF (IALT); Sold out: Vanguard Tax-exempt Bond ETF (VTEB); Sold out: Vanguard Growth ETF (VUG); Sold out: Ishares Esg Aware 60/40 Bala (EAOR); Sold out: Vanguard Small-cap Value ETF (VBR)
What sectors does Cardinal Point Capital Management ULC focus on?
Cardinal Point Capital Management ULC is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 27.4%
• Financials: 25.2%
• Energy: 9.7%
• Communication Services: 8.5%
• Health Care: 7.7%
• Consumer Staples: 7.5%
Investment Profile
Cardinal Point Capital Management ULC returned an annualized 19.1% over the trailing 36 months — outperforming the S&P 500 by 4.4 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.61 (less volatile than the market) and a 42% quarterly batting average against the index.
Its portfolio is broadly diversified and long-term-holding.
Its turnover score has fallen from 30 to 13 over the past 4 quarters — a shift toward longer holding periods.
It has added to its VTI position over the past two quarters (+$37.7M, now $234.1M), while trimming TFLO over the same stretch (-$8.1M, still holding $17.9M).
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