# Cardinal Capital Management

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1434845. Source: https://holderbook.com/funds/1434845-cardinal-capital-management/

- Reported value: $826.3M
- Positions: 138
- Weight of the ten largest: 26.8%
- Filed: 2026-07-21

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 |
|---|---|---|---|---|---|
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $31.8M | 26,505 | 3.8% | 31 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $29.2M | 114,813 | 3.5% | 31 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $25.0M | 86,434 | 3.0% | 31 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $22.7M | 63,551 | 2.7% | 31 |
| BANK OF NY MELLON CORP | [BNY](https://holderbook.com/stocks/BNY/) | $19.6M | 135,400 | 2.4% | 16 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $19.3M | 20,616 | 2.3% | 31 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $19.1M | 58,423 | 2.3% | 31 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $18.7M | 50,127 | 2.3% | 31 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $18.3M | 156,094 | 2.2% | 31 |
| DEERE & CO | [DE](https://holderbook.com/stocks/DE/) | $17.5M | 27,589 | 2.1% | 31 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $17.4M | 153,893 | 2.1% | 31 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $15.7M | 115,027 | 1.9% | 31 |
| CUMMINS INC | [CMI](https://holderbook.com/stocks/CMI/) | $14.9M | 20,873 | 1.8% | 31 |
| QUALCOMM INC | [QCOM](https://holderbook.com/stocks/QCOM/) | $12.9M | 69,614 | 1.6% | 31 |
| EMERSON ELEC CO | [EMR](https://holderbook.com/stocks/EMR/) | $12.7M | 88,412 | 1.5% | 31 |
| INTERNATIONAL BUSINESS MACHS | [IBM](https://holderbook.com/stocks/IBM/) | $12.6M | 44,694 | 1.5% | 31 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $12.4M | 96,235 | 1.5% | 31 |
| ECOLAB INC | [ECL](https://holderbook.com/stocks/ECL/) | $12.0M | 42,962 | 1.5% | 31 |
| ILLINOIS TOOL WKS INC | [ITW](https://holderbook.com/stocks/ITW/) | $11.8M | 43,427 | 1.4% | 31 |
| KEYSIGHT TECHNOLOGIES INC | [KEYS](https://holderbook.com/stocks/KEYS/) | $11.6M | 33,041 | 1.4% | 31 |
| LABCORP HOLDINGS INC | [LH](https://holderbook.com/stocks/LH/) | $10.8M | 38,484 | 1.3% | 9 |
| LOWES COS INC | [LOW](https://holderbook.com/stocks/LOW/) | $10.6M | 48,228 | 1.3% | 31 |
| TRUIST FINL CORP | [TFC](https://holderbook.com/stocks/TFC/) | $10.3M | 207,732 | 1.3% | 27 |
| AUTOMATIC DATA PROCESSING IN | [ADP](https://holderbook.com/stocks/ADP/) | $10.1M | 44,656 | 1.2% | 31 |
| AGILENT TECHNOLOGIES INC | [A](https://holderbook.com/stocks/A/) | $10.0M | 75,200 | 1.2% | 31 |
| CONOCOPHILLIPS | [COP](https://holderbook.com/stocks/COP/) | $9.6M | 92,012 | 1.2% | 31 |
| STARBUCKS CORP | [SBUX](https://holderbook.com/stocks/SBUX/) | $9.5M | 93,350 | 1.2% | 31 |
| STATE STR CORP | [STT](https://holderbook.com/stocks/STT/) | $9.3M | 54,929 | 1.1% | 30 |
| OIL DRI CORP AMER | [ODC](https://holderbook.com/stocks/ODC/) | $8.9M | 87,391 | 1.1% | 31 |
| ARGAN INC | [AGX](https://holderbook.com/stocks/AGX/) | $8.8M | 11,042 | 1.1% | 27 |
| 3M CO | [MMM](https://holderbook.com/stocks/MMM/) | $8.8M | 54,320 | 1.1% | 31 |
| PROCTER & GAMBLE CO | [PG](https://holderbook.com/stocks/PG/) | $8.8M | 59,816 | 1.1% | 31 |
| PRICE T ROWE GROUP INC | [TROW](https://holderbook.com/stocks/TROW/) | $8.3M | 73,050 | 1.0% | 31 |
| HASBRO INC | [HAS](https://holderbook.com/stocks/HAS/) | $8.2M | 99,780 | 1.0% | 31 |
| ROYAL BK CDA | [RY](https://holderbook.com/stocks/RY/) | $8.2M | 39,630 | 1.0% | 31 |
| F5 INC | [FFIV](https://holderbook.com/stocks/FFIV/) | $8.1M | 19,383 | 1.0% | 23 |
| NATIONAL FUEL GAS CO | [NFG](https://holderbook.com/stocks/NFG/) | $7.8M | 100,653 | 0.9% | 31 |
| NOVARTIS AG | [NVS](https://holderbook.com/stocks/NVS/) | $7.8M | 49,670 | 0.9% | 31 |
| CURTISS WRIGHT CORP | [CW](https://holderbook.com/stocks/CW/) | $7.8M | 10,229 | 0.9% | 31 |
| IDEXX LABS INC | [IDXX](https://holderbook.com/stocks/IDXX/) | $7.4M | 14,151 | 0.9% | 31 |
| COCA COLA CO | [KO](https://holderbook.com/stocks/KO/) | $6.8M | 83,625 | 0.8% | 31 |
| MEDTRONIC PLC | [MDT](https://holderbook.com/stocks/MDT/) | $6.7M | 85,040 | 0.8% | 27 |
| UNITED THERAPEUTICS CORP DEL | [UTHR](https://holderbook.com/stocks/UTHR/) | $6.5M | 11,970 | 0.8% | 27 |
| SYNAPTICS INC | [SYNA](https://holderbook.com/stocks/SYNA/) | $6.2M | 49,685 | 0.7% | 31 |
| BRISTOL-MYERS SQUIBB CO | [BMY](https://holderbook.com/stocks/BMY/) | $6.1M | 105,075 | 0.7% | 8 |
| MCCORMICK & CO INC | [MKC](https://holderbook.com/stocks/MKC/) | $5.8M | 114,444 | 0.7% | 31 |
| FEDEX CORP | [FDX](https://holderbook.com/stocks/FDX/) | $5.7M | 18,262 | 0.7% | 31 |
| TORONTO DOMINION BK ONT | [TD](https://holderbook.com/stocks/TD/) | $5.6M | 46,344 | 0.7% | 31 |
| BANK NOVA SCOTIA B C | [BNS](https://holderbook.com/stocks/BNS/) | $5.4M | 62,606 | 0.7% | 31 |
| REGENERON PHARMACEUTICALS | [REGN](https://holderbook.com/stocks/REGN/) | $5.2M | 8,397 | 0.6% | 27 |
| LANDSTAR SYS INC | [LSTR](https://holderbook.com/stocks/LSTR/) | $5.2M | 25,240 | 0.6% | 31 |
| BECTON DICKINSON & CO | [BDX](https://holderbook.com/stocks/BDX/) | $5.1M | 33,970 | 0.6% | 31 |
| TELEDYNE TECHNOLOGIES INC | [TDY](https://holderbook.com/stocks/TDY/) | $5.1M | 7,603 | 0.6% | 31 |
| PREFORMED LINE PRODS CO | [PLPC](https://holderbook.com/stocks/PLPC/) | $5.0M | 12,198 | 0.6% | 17 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $4.9M | 13,942 | 0.6% | 31 |
| PHILLIPS 66 | [PSX](https://holderbook.com/stocks/PSX/) | $4.8M | 28,388 | 0.6% | 31 |
| UNITED STS LIME & MINERALS I | [USLM](https://holderbook.com/stocks/USLM/) | $4.7M | 44,576 | 0.6% | 31 |
| PEPSICO INC | [PEP](https://holderbook.com/stocks/PEP/) | $4.6M | 33,874 | 0.6% | 31 |
| BALCHEM CORP | [BCPC](https://holderbook.com/stocks/BCPC/) | $4.5M | 26,722 | 0.5% | 31 |
| SNAP ON INC | [SNA](https://holderbook.com/stocks/SNA/) | $4.5M | 11,212 | 0.5% | 31 |
| SHELL PLC | [SHEL](https://holderbook.com/stocks/SHEL/) | $4.5M | 57,591 | 0.5% | 18 |
| RAYMOND JAMES FINL INC | [RJF](https://holderbook.com/stocks/RJF/) | $4.3M | 28,509 | 0.5% | 31 |
| SAP SE | [SAP](https://holderbook.com/stocks/SAP/) | $4.2M | 27,561 | 0.5% | 31 |
| WEBSTER FINL CORP | [WBS](https://holderbook.com/stocks/WBS/) | $4.2M | 55,026 | 0.5% | 31 |
| TOYOTA MOTOR CORP | [TM](https://holderbook.com/stocks/TM/) | $4.1M | 24,586 | 0.5% | 31 |
| INTERDIGITAL INC | [IDCC](https://holderbook.com/stocks/IDCC/) | $4.1M | 14,580 | 0.5% | 14 |
| ELBIT SYS LTD | [ESLT](https://holderbook.com/stocks/ESLT/) | $3.9M | 5,127 | 0.5% | 31 |
| DEXCOM INC | [DXCM](https://holderbook.com/stocks/DXCM/) | $3.8M | 56,890 | 0.5% | 7 |
| CACI INTL INC | [CACI](https://holderbook.com/stocks/CACI/) | $3.7M | 7,956 | 0.4% | 31 |
| CIRRUS LOGIC INC | [CRUS](https://holderbook.com/stocks/CRUS/) | $3.6M | 24,253 | 0.4% | 30 |
| GENERAL MILLS INC | [GIS](https://holderbook.com/stocks/GIS/) | $3.6M | 103,403 | 0.4% | 31 |
| TOTALENERGIES SE | [TTE](https://holderbook.com/stocks/TTE/) | $3.6M | 45,547 | 0.4% | 3 |
| JAZZ PHARMACEUTICALS PLC | [JAZZ](https://holderbook.com/stocks/JAZZ/) | $3.6M | 14,867 | 0.4% | 26 |
| SPIRE INC | [SR](https://holderbook.com/stocks/SR/) | $3.5M | 43,955 | 0.4% | 31 |
| BANCO SANTANDER CHILE NEW | [BSAC](https://holderbook.com/stocks/BSAC/) | $3.4M | 104,641 | 0.4% | 31 |
| HUNTINGTON BANCSHARES INC | [HBAN](https://holderbook.com/stocks/HBAN/) | $3.4M | 192,606 | 0.4% | 21 |
| SANOFI SA | [SNY](https://holderbook.com/stocks/SNY/) | $3.4M | 80,450 | 0.4% | 31 |
| BADGER METER INC | [BMI](https://holderbook.com/stocks/BMI/) | $3.3M | 22,515 | 0.4% | 31 |
| GSK PLC | [GSK](https://holderbook.com/stocks/GSK/) | $3.3M | 62,101 | 0.4% | 16 |
| ENERSYS | [ENS](https://holderbook.com/stocks/ENS/) | $3.3M | 13,992 | 0.4% | 4 |
| PHIBRO ANIMAL HEALTH CORP | [PAHC](https://holderbook.com/stocks/PAHC/) | $3.1M | 99,723 | 0.4% | 14 |
| PFIZER INC | [PFE](https://holderbook.com/stocks/PFE/) | $3.0M | 124,537 | 0.4% | 3 |
| CULLEN FROST BANKERS INC | [CFR](https://holderbook.com/stocks/CFR/) | $3.0M | 19,329 | 0.4% | 31 |
| F N B CORP | [FNB](https://holderbook.com/stocks/FNB/) | $2.9M | 153,002 | 0.4% | 31 |
| DOLBY LABORATORIES INC | [DLB](https://holderbook.com/stocks/DLB/) | $2.9M | 54,613 | 0.3% | 31 |
| UNITED PARCEL SVCS INC | [UPS](https://holderbook.com/stocks/UPS/) | $2.8M | 26,066 | 0.3% | 31 |
| QNITY ELECTRONICS INC | [Q](https://holderbook.com/stocks/Q/) | $2.8M | 17,128 | 0.3% | 3 |
| KIMBALL ELECTRONICS INC | [KE](https://holderbook.com/stocks/KE/) | $2.8M | 108,172 | 0.3% | 26 |
| BANK OZK LITTLE ROCK ARK | [OZK](https://holderbook.com/stocks/OZK/) | $2.7M | 51,317 | 0.3% | 30 |
| HENRY JACK & ASSOC INC | [JKHY](https://holderbook.com/stocks/JKHY/) | $2.6M | 19,159 | 0.3% | 31 |
| CHARLES RIV LABS INTL INC | [CRL](https://holderbook.com/stocks/CRL/) | $2.5M | 11,206 | 0.3% | 31 |
| UNION BANKSHARES INC | [UNB](https://holderbook.com/stocks/UNB/) | $2.5M | 104,509 | 0.3% | 31 |
| WILEY JOHN & SONS INC | [WLY](https://holderbook.com/stocks/WLY/) | $2.4M | 50,389 | 0.3% | 31 |
| NOVO-NORDISK A S | [NVO](https://holderbook.com/stocks/NVO/) | $2.4M | 50,261 | 0.3% | 31 |
| NXP SEMICONDUCTORS N V | [NXPI](https://holderbook.com/stocks/NXPI/) | $2.4M | 8,533 | 0.3% | 29 |
| HUB GROUP INC | [HUBG](https://holderbook.com/stocks/HUBG/) | $2.4M | 54,305 | 0.3% | 31 |
| UNILEVER PLC | [UL](https://holderbook.com/stocks/UL/) | $2.4M | 39,489 | 0.3% | 3 |
| TOMPKINS FINL CORP | [TMP](https://holderbook.com/stocks/TMP/) | $2.4M | 25,088 | 0.3% | 31 |
| MORNINGSTAR INC | [MORN](https://holderbook.com/stocks/MORN/) | $2.3M | 15,051 | 0.3% | 31 |
| GRACO INC | [GGG](https://holderbook.com/stocks/GGG/) | $2.3M | 30,314 | 0.3% | 31 |

## 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 | +8.0% | +14.8% | -6.8% | 99% |
| Q1 2026 | +2.3% | -4.6% | +6.9% | 100% |
| Q4 2025 | +3.9% | +2.4% | +1.5% | 100% |
| Q3 2025 | +5.4% | +7.8% | -2.4% | 100% |
| Q2 2025 | +4.3% | +10.5% | -6.1% | 100% |
| Q1 2025 | -0.6% | -4.6% | +3.9% | 100% |
| Q4 2024 | -1.6% | +2.1% | -3.7% | 100% |
| Q3 2024 | +6.1% | +5.4% | +0.6% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $826.3M | 138 |
| Q1 2026 | $775.6M | 136 |
| Q4 2025 | $755.0M | 133 |
| Q3 2025 | $723.4M | 131 |
| Q2 2025 | $681.4M | 128 |
| Q1 2025 | $645.7M | 132 |
| Q4 2024 | $637.7M | 131 |
| Q3 2024 | $642.8M | 130 |
| Q2 2024 | $593.7M | 134 |
| Q1 2024 | $614.6M | 139 |
| Q4 2023 | $528.1M | 135 |
| Q3 2023 | $491.3M | 138 |