# MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1058231. Source: https://holderbook.com/funds/1058231-morguard-lincluden-global-investments-ltd/

- Reported value: $1.0B
- Positions: 68
- Weight of the ten largest: 53.3%
- Filed: 2026-07-24

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| ROYAL BK CDA | [RY](https://holderbook.com/stocks/RY/) | $93.8M | 319,503 | 9.2% | 31 |
| TORONTO DOMINION BK ONT | [TD](https://holderbook.com/stocks/TD/) | $90.9M | 526,877 | 8.9% | 31 |
| TC ENERGY CORP | [TRP](https://holderbook.com/stocks/TRP/) | $56.9M | 605,977 | 5.6% | 21 |
| BANK NOVA SCOTIA B C | [BNS](https://holderbook.com/stocks/BNS/) | $56.6M | 458,826 | 5.6% | 31 |
| CANADIAN NATL RY CO | [CNI](https://holderbook.com/stocks/CNI/) | $54.9M | 324,110 | 5.4% | 31 |
| BCE INC | [BCE](https://holderbook.com/stocks/BCE/) | $44.2M | 1,445,763 | 4.3% | 21 |
| CGI INC | [GIB](https://holderbook.com/stocks/GIB/) | $38.3M | 417,469 | 3.8% | 22 |
| RESTAURANT BRANDS INTL INC | [QSR](https://holderbook.com/stocks/QSR/) | $36.8M | 357,508 | 3.6% | 26 |
| CANADIAN IMPERIAL BANK OF CO | [CM](https://holderbook.com/stocks/CM/) | $36.0M | 220,139 | 3.5% | 31 |
| BROOKFIELD INFRASTRUCTURE PA | [BIP](https://holderbook.com/stocks/BIP/) | $34.3M | 662,686 | 3.4% | 3 |
| CANADIAN NAT RES LTD MED TER | [CNQ](https://holderbook.com/stocks/CNQ/) | $31.3M | 557,895 | 3.1% | 14 |
| SUNCOR ENERGY INC NEW | [SU](https://holderbook.com/stocks/SU/) | $31.2M | 408,759 | 3.1% | 22 |
| TELUS CORPORATION | [TU](https://holderbook.com/stocks/TU/) | $29.3M | 1,951,523 | 2.9% | 22 |
| NUTRIEN LTD | [NTR](https://holderbook.com/stocks/NTR/) | $28.6M | 320,313 | 2.8% | 5 |
| MANULIFE FINL CORP | [MFC](https://holderbook.com/stocks/MFC/) | $27.6M | 479,103 | 2.7% | 19 |
| BROOKFIELD CORP | [BN](https://holderbook.com/stocks/BN/) | $26.6M | 439,774 | 2.6% | 15 |
| MAGNA INTL INC | [MGA](https://holderbook.com/stocks/MGA/) | $24.8M | 266,320 | 2.4% | 31 |
| BROOKFIELD RENEWABLE ENERGY | [BEP](https://holderbook.com/stocks/BEP/) | $20.8M | 422,025 | 2.0% | 11 |
| FIRSTSERVICE CORP NEW | [FSV](https://holderbook.com/stocks/FSV/) | $13.5M | 66,993 | 1.3% | 21 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $11.9M | 33,228 | 1.2% | 24 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $9.4M | 22,589 | 0.9% | 13 |
| JACOBS SOLUTIONS INC | [J](https://holderbook.com/stocks/J/) | $9.1M | 72,023 | 0.9% | 5 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $8.8M | 25,560 | 0.9% | 2 |
| THERMO FISHER SCIENTIFIC INC | [TMO](https://holderbook.com/stocks/TMO/) | $8.4M | 16,787 | 0.8% | 5 |
| US BANCORP | [USB](https://holderbook.com/stocks/USB/) | $8.4M | 139,095 | 0.8% | 15 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $8.2M | 22,093 | 0.8% | 31 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $8.1M | 69,320 | 0.8% | 31 |
| AMERICAN TOWER CORP | [AMT](https://holderbook.com/stocks/AMT/) | $7.8M | 47,493 | 0.8% | 22 |
| DIAGEO PLC | [DEO](https://holderbook.com/stocks/DEO/) | $7.7M | 95,951 | 0.8% | 11 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $7.6M | 133,646 | 0.7% | 31 |
| COLLIERS INTL GROUP INC | [CIGI](https://holderbook.com/stocks/CIGI/) | $7.3M | 54,765 | 0.7% | 30 |
| PFIZER INC | [PFE](https://holderbook.com/stocks/PFE/) | $7.3M | 302,092 | 0.7% | 31 |
| ING GROEP N.V. | [ING](https://holderbook.com/stocks/ING/) | $6.6M | 209,457 | 0.6% | 31 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $6.1M | 18,711 | 0.6% | 31 |
| RMR GROUP INC | [RMR](https://holderbook.com/stocks/RMR/) | $6.0M | 290,000 | 0.6% | 20 |
| MORGAN STANLEY | [MS](https://holderbook.com/stocks/MS/) | $5.8M | 27,805 | 0.6% | 31 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $5.6M | 15,878 | 0.5% | 14 |
| BOYD GROUP SERVICES INC | [BGSI](https://holderbook.com/stocks/BGSI/) | $5.5M | 41,310 | 0.5% | 3 |
| CITIGROUP INC | [C](https://holderbook.com/stocks/C/) | $5.1M | 36,613 | 0.5% | 31 |
| EOG RES INC | [EOG](https://holderbook.com/stocks/EOG/) | $5.1M | 39,024 | 0.5% | 29 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $5.0M | 5,345 | 0.5% | 15 |
| DISNEY WALT CO | [DIS](https://holderbook.com/stocks/DIS/) | $5.0M | 51,540 | 0.5% | 23 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $4.9M | 43,169 | 0.5% | 31 |
| VERIZON COMMUNICATIONS INC | [VZ](https://holderbook.com/stocks/VZ/) | $4.6M | 108,554 | 0.5% | 31 |
| FEDERAL RLTY INVT TR NEW | [FRT](https://holderbook.com/stocks/FRT/) | $4.6M | 36,888 | 0.4% | 18 |
| GILDAN ACTIVEWEAR INC | [GIL](https://holderbook.com/stocks/GIL/) | $4.3M | 59,218 | 0.4% | 11 |
| EQUINIX INC | [EQIX](https://holderbook.com/stocks/EQIX/) | $4.1M | 3,971 | 0.4% | 30 |
| TERRENO RLTY CORP | [TRNO](https://holderbook.com/stocks/TRNO/) | $4.1M | 63,499 | 0.4% | 31 |
| WELLTOWER INC | [WELL](https://holderbook.com/stocks/WELL/) | $4.1M | 17,970 | 0.4% | 25 |
| TRACTOR SUPPLY CO | [TSCO](https://holderbook.com/stocks/TSCO/) | $4.1M | 128,430 | 0.4% | 26 |
| SHELL PLC | [SHEL](https://holderbook.com/stocks/SHEL/) | $4.0M | 50,952 | 0.4% | 6 |
| GENTEX CORP | [GNTX](https://holderbook.com/stocks/GNTX/) | $3.5M | 139,650 | 0.3% | 14 |
| ROGERS COMMUNICATIONS INC | [RCI](https://holderbook.com/stocks/RCI/) | $3.4M | 74,117 | 0.3% | 31 |
| DESCARTES SYS GROUP INC | [DSGX](https://holderbook.com/stocks/DSGX/) | $3.4M | 34,114 | 0.3% | 1 |
| SANOFI SA | - | $3.3M | 77,164 | 0.3% | 18 |
| TJX COS INC NEW | [TJX](https://holderbook.com/stocks/TJX/) | $3.2M | 21,189 | 0.3% | 23 |
| GSK PLC | [GSK](https://holderbook.com/stocks/GSK/) | $3.0M | 57,400 | 0.3% | 15 |
| AMERICAN HEALTHCARE REIT INC | [AHR](https://holderbook.com/stocks/AHR/) | $2.9M | 54,797 | 0.3% | 3 |
| BROOKFIELD ASSET MANAGMT LTD | [BAM](https://holderbook.com/stocks/BAM/) | $2.7M | 43,179 | 0.3% | 2 |
| SAP SE | [SAP](https://holderbook.com/stocks/SAP/) | $2.4M | 15,362 | 0.2% | 31 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $2.4M | 9,263 | 0.2% | 31 |
| AVALONBAY CMNTYS INC | [AVB](https://holderbook.com/stocks/AVB/) | $2.2M | 11,699 | 0.2% | 18 |
| EXTRA SPACE STORAGE INC | [EXR](https://holderbook.com/stocks/EXR/) | $1.8M | 12,429 | 0.2% | 14 |
| MID-AMER APT CMNTYS INC | [MAA](https://holderbook.com/stocks/MAA/) | $1.5M | 10,722 | 0.1% | 1 |
| SIMON PPTY GROUP INC NEW | [SPG](https://holderbook.com/stocks/SPG/) | $1.5M | 6,537 | 0.1% | 24 |
| BXP INC | [BXP](https://holderbook.com/stocks/BXP/) | $784.0K | 11,822 | 0.1% | 7 |
| CORNING INC | [GLW](https://holderbook.com/stocks/GLW/) | $153.0K | 599 | 0.0% | 31 |
| BROOKFIELD RENEWABLE CORP | [BEPC](https://holderbook.com/stocks/BEPC/) | $66.0K | 1,257 | 0.0% | 7 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +6.7% | +14.8% | -8.1% | 98% |
| Q1 2026 | +4.0% | -4.6% | +8.6% | 78% |
| Q4 2025 | +5.3% | +2.4% | +3.0% | 98% |
| Q3 2025 | +6.8% | +7.8% | -1.0% | 99% |
| Q2 2025 | +9.0% | +10.5% | -1.4% | 100% |
| Q1 2025 | -2.0% | -4.6% | +2.5% | 99% |
| Q4 2024 | -5.9% | +2.1% | -8.1% | 99% |
| Q3 2024 | +12.7% | +5.4% | +7.3% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $1.0B | 68 |
| Q1 2026 | $938.9M | 70 |
| Q4 2025 | $1.2B | 71 |
| Q3 2025 | $898.3M | 69 |
| Q2 2025 | $905.4M | 77 |
| Q1 2025 | $787.1M | 72 |
| Q4 2024 | $826.1M | 73 |
| Q3 2024 | $916.9M | 72 |
| Q2 2024 | $823.4M | 72 |
| Q1 2024 | $842.9M | 73 |
| Q4 2023 | $824.0M | 75 |
| Q3 2023 | $826.7M | 72 |