ML
MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd 13F Disclosure (Q2 2026) — Portfolio & Holdings
MORGUARD LINCLUDEN GLOBAL INVESTMENTS LtdCIK: 0001058231
Diversified strategyMomentum followerQuality / disciplined sizing
Total reported value
$1.0B
Reporting period: 2026-06-30 · Number of holdings: 68
MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd disclosed 68 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $1.0B and a quarterly turnover rate of 27.5%.
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Personality snowflake
- Concentration
- 16.04
- Portfolio Stability
- 27.54
- Momentum
- 100
- Sector conviction
- 64.61
- Diversification
- 100
- Sizing Uniformity
- 86.76
MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd's disclosed holdings carry a Herfindahl concentration index of 0.040 — mathematically equivalent to about 25 equally-sized positions, well below its 68 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 1.32), 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.govSold out PBA
Add RY
-21.6% $27.0M
Add TD
-23.7% $25.4M
Add BNS
-20.5% $15.9M
Add GIB
+20.3% $12.5M
Add CNI
-19.8% $12.6M
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 | RY | Royal Bank Of Canada | Stock-Financials | 9.21% | +2.09% | -21.55% | |
| 2 | TD | Toronto-dominion Bank | Stock-Financials | 8.92% | +1.95% | -23.69% | |
| 3 | TRP | Tc Energy CORP | Stock-Energy | 5.59% | +0.39% | -21.07% | |
| 4 | BNS | Bank Of Nova Scotia | Stock-Financials | 5.55% | +1.22% | -20.54% | |
| 5 | CNI | Canadian Natl Railway Co | Stock-Industrials | 5.38% | +0.88% | -19.83% | |
| 6 | BCE | Bce Inc | Stock-Comm Services | 4.34% | -0.69% | -21.59% | |
| 7 | GIB | Cgi Inc | Stock-Tech | 3.76% | +1.02% | +20.30% | |
| 8 | QSR | Restaurant Brands Intern | Stock-Consumer Disc | 3.61% | -0.02% | -21.15% | |
| 9 | CM | Can Imperial Bk Of Commerce | Stock-Financials | 3.53% | +0.52% | -25.00% | |
| 10 | BIP | Brookfield Infrastructure Partners L.P. | Stock-Utilities | 3.37% | +0.88% | +4.00% | |
| 11 | CNQ | Canadian Natural Resources | Stock-Energy | 3.07% | -0.61% | -19.96% | |
| 12 | SU | Suncor Energy Inc | Stock-Energy | 3.06% | -0.61% | -20.34% | |
| 13 | TU | Telus CORP | Stock-Other | 2.87% | -0.05% | -7.21% | |
| 14 | NTR | Nutrien LTD | Stock-Materials | 2.81% | -0.74% | -26.36% | |
| 15 | MFC | Manulife Financial CORP | Stock-Financials | 2.71% | +0.14% | -30.44% | |
| 16 | BN | Brookfield CORP | Stock-Financials | 2.61% | -0.40% | -36.04% | |
| 17 | MGA | Magna International Inc | Stock-Consumer Disc | 2.44% | +0.07% | -32.24% | |
| 18 | BEP | Brookfield Renewable Partners L.P. | Stock-Other | 2.04% | +0.02% | -26.27% | |
| 19 | FSV | Firstservice CORP | Stock-Other | 1.33% | +0.36% | +3.60% | |
| 20 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 1.17% | +0.15% | +0.04% | |
| 21 | UNH | Unitedhealth Group Inc | Stock-Healthcare | 0.92% | +0.27% | +0.15% | |
| 22 | J | Jacobs Solutions Inc | Stock-Industrials | 0.89% | +0.17% | +35.52% | |
| 23 | V | Visa Inc-class A Shares | Stock-Financials | 0.86% | +0.11% | +10.10% | |
| 24 | TMO | Thermo Fisher Scientific Inc | Stock-Healthcare | 0.83% | +0.08% | +16.41% | |
| 25 | USB | US Bancorp | Stock-Financials | 0.82% | +0.05% | +0.33% | |
| 26 | MSFT | Microsoft CORP | Stock-Tech | 0.81% | -0.06% | +0.40% | |
| 27 | CSCO | Cisco Systems Inc | Stock-Tech | 0.80% | -0.39% | -51.96% | |
| 28 | AMT | American Tower CORP | Stock-Real Estate | 0.76% | — | +14.43% | |
| 29 | DEO | Diageo Plc-sponsored Adr | Stock-Consumer Staples | 0.76% | -0.15% | -16.54% | |
| 30 | BAC | Bank Of America CORP | Stock-Financials | 0.75% | +0.06% | +0.61% | |
| 31 | CIGI | Colliers Intl Gr-subord Vot | Stock-Other | 0.72% | +0.11% | +4.09% | |
| 32 | PFE | Pfizer Inc | Stock-Healthcare | 0.71% | -0.49% | -24.72% | |
| 33 | ING | Ing Groep N.v.-sponsored Adr | Stock-Financials | 0.65% | +0.04% | -4.09% | |
| 34 | JPM | Jpmorgan Chase & Co | Stock-Financials | 0.60% | +0.02% | +1.41% | |
| 35 | RMR | Rmr Group Inc/the - A | Stock-Other | 0.58% | +0.10% | — | |
| 36 | MS | Morgan Stanley | Stock-Financials | 0.57% | +0.07% | -1.68% | |
| 37 | HD | Home Depot Inc | Stock-Consumer Disc | 0.55% | +0.09% | +20.08% | |
| 38 | BGSI | THE Boyd Group Inc | Stock-Other | 0.54% | +0.14% | +41.90% | |
| 39 | C | Citigroup Inc | Stock-Financials | 0.50% | -0.01% | -13.38% | |
| 40 | EOG | Eog Resources Inc | Stock-Energy | 0.50% | -0.10% | +0.16% | |
| 41 | COST | Costco Wholesale CORP | Stock-Consumer Staples | 0.49% | -0.07% | +0.91% | |
| 42 | DIS | Walt Disney Co/the | Stock-Comm Services | 0.49% | +0.13% | +45.63% | |
| 43 | WMT | Walmart Inc | Stock-Consumer Staples | 0.48% | -0.10% | -1.56% | |
| 44 | VZ | Verizon Communications Inc | Stock-Comm Services | 0.45% | -0.54% | -41.64% | |
| 45 | FRT | Federal Realty Invs Trust | Stock-Real Estate | 0.45% | +0.03% | — | |
| 46 | GIL | Gildan Activewear Inc | Stock-Consumer Disc | 0.43% | +0.11% | +15.47% | |
| 47 | EQIX | Equinix Inc | Stock-Real Estate | 0.41% | — | — | |
| 48 | TRNO | Terreno Realty CORP | Stock-Real Estate | 0.40% | -0.02% | — | |
| 49 | WELL | Welltower Inc | Stock-Real Estate | 0.40% | +0.02% | — | |
| 50 | TSCO | Tractor Supply Company | Stock-Consumer Disc | 0.40% | +0.13% | +128.34% |
1–50 of 68
Portfolio Performance
Performance for Q3 2026
+3.8%
Performance Last 4 Quarters
+27.4%
- Stdev
- +12.9%
- Beta
- +0.73
- Alpha
- +4.3%
- Max Drawdown
- -7.1%
- Annualized Perf
- +19.7%
- Batting Avg vs S&P
- +47.2%
- Sortino
- +2.9
- Stutzer
- +0.43
- Treynor
- +0.26
- Sterling
- +1.29
- Calmar
- +2.79
- Information Ratio
- -0.11
- Tracking Error
- +9.4%
- Stdev Down
- +6.5%
- Winning Months %
- +66.7%
- Losing Months %
- +33.3%
- Best 12 Months
- +38.5%
- Worst 12 Months
- +3.6%
- Efficiency Ratio
- +0.59
- Sharpe
- +1.47
- Stdev Sectors
- +10.6%
- Skewness
- -0.16
- Kurtosis
- -0.51
- Upside Potential
- +4.56
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 68 | $1.0B | 28 | ||
| 2026 Q1 | 70 | $938.9M | 31 | ||
| 2025 Q4 | 71 | $1.2B | 31 | ||
| 2025 Q3 | 69 | $898.3M | 28 | ||
| 2025 Q2 | 77 | $905.4M | 0 | ||
| 2025 Q1 | 72 | $787.1M | 100 | ||
| 2024 Q4 | 73 | $826.1M | 0 | ||
| 2024 Q3 | 72 | $916.9M | 0 | ||
| 2024 Q2 | 72 | $823.4M | 0 | ||
| 2024 Q1 | 73 | $842.9M | 0 | ||
| 2023 Q4 | 75 | $824.0M | 0 | ||
| 2023 Q3 | 72 | $826.7M | 0 | ||
| 2023 Q2 | 74 | $868.1M | 0 | ||
| 2023 Q1 | 75 | $880.3M | 0 | ||
| 2022 Q4 | 71 | $861.6M | 0 | ||
| 2022 Q3 | 68 | $785.0M | 0 | ||
| 2022 Q2 | 70 | $913.8M | 0 | ||
| 2022 Q1 | 74 | $1.1B | 0 | ||
| 2021 Q4 | 76 | $1.1B | 0 | ||
| 2021 Q3 | 76 | $996.7M | 0 | ||
| 2021 Q2 | 77 | $1.0B | 100 | ||
| 2021 Q1 | 73 | $1.0B | 35 | ||
| 2020 Q4 | 77 | $960.5M | 19 | ||
| 2020 Q3 | 77 | $1.0B | 25 | ||
| 2020 Q2 | 73 | $952.9M | 17 | ||
| 2020 Q1 | 71 | $829.4M | 43 | ||
| 2019 Q4 | 74 | $1.1B | 9 | ||
| 2019 Q3 | 74 | $1.1B | 46 | ||
| 2019 Q2 | 75 | $1.6B | 48 | ||
| 2019 Q1 | 72 | $1.0B | 39 | ||
| 2018 Q4 | 72 | $1.3B | 55 | ||
| 2018 Q3 | 71 | $1.2B | 20 | ||
| 2018 Q2 | 74 | $1.4B | 13 | ||
| 2018 Q1 | 74 | $1.2B | 20 | ||
| 2017 Q4 | 77 | $1.4B | 15 | ||
| 2017 Q3 | 78 | $1.3B | 19 | ||
| 2017 Q2 | 77 | $1.2B | 12 | ||
| 2017 Q1 | 81 | $1.1B | 28 | ||
| 2016 Q4 | 79 | $917.8M | 37 | ||
| 2016 Q3 | 81 | $680.6M | 16 | ||
| 2016 Q2 | 82 | $602.6M | 12 | ||
| 2016 Q1 | 84 | $592.2M | 29 | ||
| 2015 Q4 | 84 | $492.3M | 14 | ||
| 2015 Q3 | 92 | $517.4M | 60 | ||
| 2015 Q2 | 75 | $812.0M | 27 | ||
| 2015 Q1 | 74 | $700.7M | 51 | ||
| 2014 Q4 | 79 | $1.0B | 53 | ||
| 2014 Q3 | 83 | $1.0B | 16 | ||
| 2014 Q2 | 83 | $1.1B | 12 | ||
| 2014 Q1 | 81 | $1.1B | 34 | ||
| 2013 Q4 | 80 | $1.1B | 37 | ||
| 2013 Q3 | 78 | $800.9M | 100 | ||
| 2013 Q2 | 81 | $43.5B | — |
Holding changes this quarter
MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd's most significant position changes for 2026-06-30: Sold out: Pembina Pipeline CORP (PBA); Sold out: Granite Real Estate Investme (GRTUF); New buy: Descartes Systems Grp/the (DSGX); Sold out: Totalenergies Se -spon Adr (TTEN); Sold out: Sun Communities Inc (SUI).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | RY | Royal Bank Of Canada | +2.1% | -21.55% | Trim |
| 2 | TD | Toronto-dominion Bank | +2% | -23.69% | Trim |
| 3 | BNS | Bank Of Nova Scotia | +1.2% | -20.54% | Trim |
| 4 | GIB | Cgi Inc | +1% | +20.30% | Add |
| 5 | CNI | Canadian Natl Railway Co | +0.9% | -19.83% | Trim |
| 6 | BIP | Brookfield Infrastructure Partners L.P. | +0.9% | +4.00% | Add |
| 7 | CM | Can Imperial Bk Of Commerce | +0.5% | -25.00% | Trim |
| 8 | TRP | Tc Energy CORP | +0.4% | -21.07% | Trim |
| 9 | FSV | Firstservice CORP | +0.4% | +3.60% | Add |
| 10 | DSGX | Descartes Systems Grp/the | +0.3% | NEW | New buy |
| 11 | UNH | Unitedhealth Group Inc | +0.3% | +0.15% | Add |
| 12 | J | Jacobs Solutions Inc | +0.2% | +35.52% | Add |
| 13 | GOOGL | Alphabet Inc-cl A | +0.2% | +0.04% | Add |
| 14 | MAA | Mid-america Apartment Comm | +0.2% | NEW | New buy |
| 15 | MFC | Manulife Financial CORP | +0.1% | -30.44% | Trim |
| 16 | BGSI | THE Boyd Group Inc | +0.1% | +41.90% | Add |
| 17 | DIS | Walt Disney Co/the | +0.1% | +45.63% | Add |
| 18 | TSCO | Tractor Supply Company | +0.1% | +128.34% | Add |
| 19 | V | Visa Inc-class A Shares | +0.1% | +10.10% | Add |
| 20 | CIGI | Colliers Intl Gr-subord Vot | +0.1% | +4.09% | Add |
| 21 | GIL | Gildan Activewear Inc | +0.1% | +15.47% | Add |
| 22 | RMR | Rmr Group Inc/the - A | +0.1% | — | Unchanged |
| 23 | AHR | American Healthcare Reit Inc | +0.1% | +56.38% | Add |
| 24 | HD | Home Depot Inc | +0.1% | +20.08% | Add |
| 25 | TMO | Thermo Fisher Scientific Inc | +0.1% | +16.41% | Add |
| 26 | MGA | Magna International Inc | +0.1% | -32.24% | Trim |
| 27 | MS | Morgan Stanley | +0.1% | -1.68% | Trim |
| 28 | BAC | Bank Of America CORP | +0.1% | +0.61% | Add |
| 29 | SHEL | Shell Plc-adr | +0.1% | +54.22% | Add |
| 30 | USB | US Bancorp | +0.1% | +0.33% | Add |
| 31 | ING | Ing Groep N.v.-sponsored Adr | 0% | -4.09% | Trim |
| 32 | FRT | Federal Realty Invs Trust | 0% | — | Unchanged |
| 33 | BEP | Brookfield Renewable Partners L.P. | 0% | -26.27% | Trim |
| 34 | JPM | Jpmorgan Chase & Co | 0% | +1.41% | Add |
| 35 | WELL | Welltower Inc | 0% | — | Unchanged |
| 36 | GNTX | Gentex CORP | 0% | -0.13% | Trim |
| 37 | RCI | Rogers Communications Inc-b | 0% | -3.19% | Trim |
| 38 | AVB | Avalonbay Communities Inc | 0% | — | Unchanged |
| 39 | EXR | Extra Space Storage Inc | 0% | — | Unchanged |
| 40 | BXP | Bxp Inc | 0% | -2.28% | Trim |
| 41 | AMT | American Tower CORP | — | +14.43% | Add |
| 42 | EQIX | Equinix Inc | — | — | Unchanged |
| 43 | BEPC | Brookfield Renewable CORP | — | — | Unchanged |
| 44 | C | Citigroup Inc | 0% | -13.38% | Trim |
| 45 | JNJ | Johnson & Johnson | 0% | -1.34% | Trim |
| 46 | QSR | Restaurant Brands Intern | 0% | -21.15% | Trim |
| 47 | TRNO | Terreno Realty CORP | 0% | — | Unchanged |
| 48 | GSK | Gsk Plc-spon Adr | 0% | -1.66% | Trim |
| 49 | TU | Telus CORP | -0.1% | -7.21% | Trim |
| 50 | TJX | Tjx Companies Inc | -0.1% | -1.63% | Trim |
1–50 of 72
💡
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 MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd and what type of investor is it?
MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd 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 (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $1.0B, spread across 68 disclosed positions.
What are MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd's largest equity positions?
Based on the latest 13F filing, MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd's top holdings by market value are:
1. Royal Bank Of Canada (RY) — $93.8M (9.2%)
2. Toronto-dominion Bank (TD) — $90.9M (8.9%)
3. Tc Energy CORP (TRP) — $56.9M (5.6%)
4. Bank Of Nova Scotia (BNS) — $56.6M (5.5%)
5. Canadian Natl Railway Co (CNI) — $54.9M (5.4%)
What changes did MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd make in its most recent portfolio filing?
In the latest reported quarter, MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd made 64 notable position adjustments: 2 new positions were initiated, 23 existing holdings were added to, 35 positions were partially reduced, and 4 were completely exited. The largest of these moves: Sold out: Pembina Pipeline CORP (PBA); Sold out: Granite Real Estate Investme (GRTUF); New buy: Descartes Systems Grp/the (DSGX); Sold out: Totalenergies Se -spon Adr (TTEN); Sold out: Sun Communities Inc (SUI)
What sectors does MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd focus on?
MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd is concentrated in the following sectors based on its current disclosed equity portfolio:
• Financials: 41.1%
• Energy: 13.8%
• Consumer Discretionary: 8.9%
• Communication Services: 7.1%
• Industrials: 6.9%
• Information Technology: 6.5%
Investment Profile
MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd returned an annualized 19.7% over the trailing 36 months — outperforming the S&P 500 by 4.3 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.73 (less volatile than the market) and a 47% quarterly batting average against the index.
Its portfolio is broadly diversified and moderately active, with 41.1% of the portfolio concentrated in Financials.
Its turnover score has risen from 0 to 28 over the past 4 quarters — a shift toward more active trading.
It has added to its GIB position over the past two quarters (+$32.0M, now $38.3M), while trimming BN over the same stretch (-$21.5M, still holding $26.6M).
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Developer Access
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REST API
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