# INTACT INVESTMENT MANAGEMENT INC.

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1443077. Source: https://holderbook.com/funds/1443077-intact-investment-management-inc/

- Reported value: $3.5B
- Positions: 274
- Weight of the ten largest: 32.2%
- Filed: 2026-07-20

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 |
|---|---|---|---|---|---|
| MANULIFE FINL CORP | [MFC](https://holderbook.com/stocks/MFC/) | $148.3M | 3,657,057 | 4.2% | 31 |
| SPDR SERIES TRUST | [SPYM](https://holderbook.com/stocks/SPYM/) | $139.7M | 1,589,216 | 4.0% | 1 |
| TORONTO DOMINION BK ONT | [TD](https://holderbook.com/stocks/TD/) | $124.5M | 1,023,826 | 3.5% | 31 |
| CANADIAN NATL RY CO | [CNI](https://holderbook.com/stocks/CNI/) | $114.0M | 955,760 | 3.2% | 31 |
| ROYAL BK CDA | [RY](https://holderbook.com/stocks/RY/) | $114.0M | 550,736 | 3.2% | 31 |
| BANK MONTREAL MEDIUM | [BMO](https://holderbook.com/stocks/BMO/) | $110.8M | 626,785 | 3.1% | 31 |
| EMERA INC | [EMA](https://holderbook.com/stocks/EMA/) | $104.4M | 1,968,235 | 3.0% | 5 |
| ROGERS COMMUNICATIONS INC | [RCI](https://holderbook.com/stocks/RCI/) | $96.3M | 2,958,824 | 2.7% | 31 |
| BROOKFIELD INFRASTRUCTURE PA | [BIP](https://holderbook.com/stocks/BIP/) | $91.4M | 2,421,744 | 2.6% | 8 |
| SUNCOR ENERGY INC NEW | [SU](https://holderbook.com/stocks/SU/) | $91.3M | 1,697,430 | 2.6% | 31 |
| PEMBINA PIPELINE CORP | [PBA](https://holderbook.com/stocks/PBA/) | $83.4M | 1,802,664 | 2.4% | 31 |
| BROOKFIELD ASSET MANAGMT LTD | [BAM](https://holderbook.com/stocks/BAM/) | $72.2M | 1,609,078 | 2.1% | 6 |
| MAGNA INTL INC | [MGA](https://holderbook.com/stocks/MGA/) | $69.3M | 1,054,170 | 2.0% | 31 |
| CENOVUS ENERGY INC | [CVE](https://holderbook.com/stocks/CVE/) | $67.5M | 2,719,770 | 1.9% | 22 |
| CANADIAN IMPERIAL BANK OF CO | [CM](https://holderbook.com/stocks/CM/) | $64.5M | 560,550 | 1.8% | 31 |
| SUN LIFE FINANCIAL INC. | [SLF](https://holderbook.com/stocks/SLF/) | $54.9M | 699,721 | 1.6% | 31 |
| GILDAN ACTIVEWEAR INC | [GIL](https://holderbook.com/stocks/GIL/) | $52.3M | 1,014,765 | 1.5% | 10 |
| TELUS CORPORATION | [TU](https://holderbook.com/stocks/TU/) | $49.2M | 4,648,090 | 1.4% | 31 |
| BCE INC | [BCE](https://holderbook.com/stocks/BCE/) | $46.1M | 2,141,166 | 1.3% | 31 |
| AGNICO EAGLE MINES LTD | [AEM](https://holderbook.com/stocks/AEM/) | $46.0M | 296,047 | 1.3% | 8 |
| NUTRIEN LTD | [NTR](https://holderbook.com/stocks/NTR/) | $44.4M | 705,295 | 1.3% | 31 |
| ENBRIDGE INC | [ENB](https://holderbook.com/stocks/ENB/) | $40.0M | 737,763 | 1.1% | 31 |
| RESTAURANT BRANDS INTL INC | [QSR](https://holderbook.com/stocks/QSR/) | $39.2M | 539,861 | 1.1% | 31 |
| ENERFLEX LTD | [EFXT](https://holderbook.com/stocks/EFXT/) | $37.6M | 1,530,780 | 1.1% | 4 |
| OVINTIV INC | [OVV](https://holderbook.com/stocks/OVV/) | $36.1M | 686,430 | 1.0% | 2 |
| SOUTH BOW CORP | [SOBO](https://holderbook.com/stocks/SOBO/) | $35.8M | 1,015,860 | 1.0% | 7 |
| OPEN TEXT CORP | [OTEX](https://holderbook.com/stocks/OTEX/) | $33.7M | 1,522,840 | 1.0% | 31 |
| BARRICK MNG CORP | [B](https://holderbook.com/stocks/B/) | $30.0M | 814,660 | 0.9% | 5 |
| PHILIP MORRIS INTL INC | [PM](https://holderbook.com/stocks/PM/) | $28.5M | 157,800 | 0.8% | 31 |
| SHOPIFY INC | [SHOP](https://holderbook.com/stocks/SHOP/) | $26.3M | 229,594 | 0.7% | 28 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $26.0M | 202,100 | 0.7% | 31 |
| BANK NOVA SCOTIA B C | [BNS](https://holderbook.com/stocks/BNS/) | $25.6M | 294,148 | 0.7% | 31 |
| CANADIAN NAT RES LTD MED TER | [CNQ](https://holderbook.com/stocks/CNQ/) | $25.4M | 642,070 | 0.7% | 31 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $24.0M | 95,230 | 0.7% | 31 |
| BROOKFIELD RENEWABLE ENERGY | [BEP](https://holderbook.com/stocks/BEP/) | $23.9M | 690,047 | 0.7% | 8 |
| TEXAS INSTRS INC | [TXN](https://holderbook.com/stocks/TXN/) | $23.3M | 78,100 | 0.7% | 31 |
| SSR MINING IN | [SSRM](https://holderbook.com/stocks/SSRM/) | $21.9M | 774,600 | 0.6% | 1 |
| ALGONQUIN POWER & UTILITIES | [AQN](https://holderbook.com/stocks/AQN/) | $21.8M | 3,714,919 | 0.6% | 31 |
| CELESTICA INC | [CLS](https://holderbook.com/stocks/CLS/) | $21.6M | 59,260 | 0.6% | 6 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $20.8M | 58,100 | 0.6% | 31 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $20.2M | 57,400 | 0.6% | 31 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $20.1M | 48,370 | 0.6% | 3 |
| PROCTER & GAMBLE CO | [PG](https://holderbook.com/stocks/PG/) | $19.8M | 135,100 | 0.6% | 31 |
| WHEATON PRECIOUS METALS CORP | [WPM](https://holderbook.com/stocks/WPM/) | $19.6M | 174,590 | 0.6% | 9 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $19.3M | 51,100 | 0.5% | 31 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $18.8M | 50,500 | 0.5% | 31 |
| PEPSICO INC | [PEP](https://holderbook.com/stocks/PEP/) | $18.7M | 138,200 | 0.5% | 31 |
| CAMECO CORP | [CCJ](https://holderbook.com/stocks/CCJ/) | $17.6M | 173,060 | 0.5% | 20 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $17.5M | 148,830 | 0.5% | 31 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $17.4M | 104,772 | 0.5% | 31 |
| BROOKFIELD CORP | [BN](https://holderbook.com/stocks/BN/) | $17.0M | 398,225 | 0.5% | 14 |
| TC ENERGY CORP | [TRP](https://holderbook.com/stocks/TRP/) | $16.5M | 249,169 | 0.5% | 29 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $16.4M | 64,629 | 0.5% | 31 |
| PFIZER INC | [PFE](https://holderbook.com/stocks/PFE/) | $16.4M | 679,300 | 0.5% | 31 |
| MCDONALDS CORP | [MCD](https://holderbook.com/stocks/MCD/) | $16.2M | 59,961 | 0.5% | 31 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $16.0M | 281,300 | 0.5% | 31 |
| HUDBAY MINERALS INC | [HBM](https://holderbook.com/stocks/HBM/) | $15.8M | 669,490 | 0.4% | 3 |
| FRANCO NEV CORP | [FNV](https://holderbook.com/stocks/FNV/) | $15.4M | 73,728 | 0.4% | 30 |
| APPLIED MATLS INC | [AMAT](https://holderbook.com/stocks/AMAT/) | $15.3M | 21,180 | 0.4% | 7 |
| CVS HEALTH CORP | [CVS](https://holderbook.com/stocks/CVS/) | $14.9M | 144,300 | 0.4% | 31 |
| COLLIERS INTL GROUP INC | [CIGI](https://holderbook.com/stocks/CIGI/) | $14.7M | 156,300 | 0.4% | 5 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $14.6M | 50,400 | 0.4% | 31 |
| VERIZON COMMUNICATIONS INC | [VZ](https://holderbook.com/stocks/VZ/) | $14.5M | 341,600 | 0.4% | 31 |
| UNION PAC CORP | [UNP](https://holderbook.com/stocks/UNP/) | $13.7M | 50,300 | 0.4% | 15 |
| TFI INTERNATIONAL INC | [TFII](https://holderbook.com/stocks/TFII/) | $13.6M | 94,600 | 0.4% | 2 |
| SPDR SERIES TRUST | [DGT](https://holderbook.com/stocks/DGT/) | $13.5M | 73,266 | 0.4% | 31 |
| ABBOTT LABORATORIES | [ABT](https://holderbook.com/stocks/ABT/) | $13.0M | 143,300 | 0.4% | 31 |
| T-MOBILE US INC | [TMUS](https://holderbook.com/stocks/TMUS/) | $12.6M | 75,100 | 0.4% | 27 |
| KINROSS GOLD CORP | [KGC](https://holderbook.com/stocks/KGC/) | $12.3M | 519,589 | 0.3% | 8 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $12.2M | 21,600 | 0.3% | 31 |
| MORGAN STANLEY | [MS](https://holderbook.com/stocks/MS/) | $12.1M | 58,100 | 0.3% | 31 |
| COCA COLA CO | [KO](https://holderbook.com/stocks/KO/) | $12.0M | 148,100 | 0.3% | 31 |
| ELDORADO GOLD CORP NEW | [EGO](https://holderbook.com/stocks/EGO/) | $11.9M | 383,150 | 0.3% | 2 |
| THOMSON REUTERS CORP | [TRI](https://holderbook.com/stocks/TRI/) | $11.9M | 145,827 | 0.3% | 1 |
| NEXTERA ENERGY INC | [NEE](https://holderbook.com/stocks/NEE/) | $11.8M | 135,000 | 0.3% | 31 |
| WELLS FARGO & CO | [WFC](https://holderbook.com/stocks/WFC/) | $11.8M | 143,200 | 0.3% | 18 |
| GILEAD SCIENCES INC | [GILD](https://holderbook.com/stocks/GILD/) | $11.4M | 89,900 | 0.3% | 31 |
| METHANEX CORP | [MEOH](https://holderbook.com/stocks/MEOH/) | $11.2M | 242,300 | 0.3% | 14 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $11.0M | 33,700 | 0.3% | 31 |
| SPROTT INC | [SII](https://holderbook.com/stocks/SII/) | $10.6M | 93,800 | 0.3% | 22 |
| DUKE ENERGY CORP NEW | [DUK](https://holderbook.com/stocks/DUK/) | $10.4M | 82,200 | 0.3% | 31 |
| AMPHENOL CORP | [APH](https://holderbook.com/stocks/APH/) | $10.2M | 58,100 | 0.3% | 2 |
| US BANCORP | [USB](https://holderbook.com/stocks/USB/) | $10.2M | 169,600 | 0.3% | 14 |
| BAYTEX ENERGY CORP | [BTE](https://holderbook.com/stocks/BTE/) | $10.1M | 2,527,500 | 0.3% | 10 |
| VERMILION ENERGY INC | [VET](https://holderbook.com/stocks/VET/) | $9.3M | 997,500 | 0.3% | 16 |
| KIMBERLY-CLARK CORP | [KMB](https://holderbook.com/stocks/KMB/) | $9.3M | 84,400 | 0.3% | 9 |
| AT&T INC | [T](https://holderbook.com/stocks/T/) | $9.2M | 444,200 | 0.3% | 31 |
| LOCKHEED MARTIN CORP | [LMT](https://holderbook.com/stocks/LMT/) | $9.2M | 18,000 | 0.3% | 8 |
| DISNEY WALT CO | [DIS](https://holderbook.com/stocks/DIS/) | $9.1M | 94,400 | 0.3% | 31 |
| UNITED PARCEL SVCS INC | [UPS](https://holderbook.com/stocks/UPS/) | $9.0M | 83,500 | 0.3% | 31 |
| ALTRIA GROUP INC | [MO](https://holderbook.com/stocks/MO/) | $8.9M | 124,200 | 0.3% | 31 |
| WEST FRASER TIMBER CO LTD | [WFG](https://holderbook.com/stocks/WFG/) | $8.9M | 131,000 | 0.3% | 16 |
| KEURIG DR PEPPER INC | [KDP](https://holderbook.com/stocks/KDP/) | $8.8M | 269,200 | 0.3% | 3 |
| PNC FINL SVCS GROUP INC | [PNC](https://holderbook.com/stocks/PNC/) | $8.7M | 35,400 | 0.2% | 3 |
| TRANSALTA CORP | [TAC](https://holderbook.com/stocks/TAC/) | $8.7M | 627,000 | 0.2% | 31 |
| BRISTOL-MYERS SQUIBB CO | [BMY](https://holderbook.com/stocks/BMY/) | $8.6M | 148,700 | 0.2% | 31 |
| HEWLETT PACKARD ENTERPRISE C | [HPE](https://holderbook.com/stocks/HPE/) | $8.4M | 187,000 | 0.2% | 4 |
| SEMPRA | [SRE](https://holderbook.com/stocks/SRE/) | $8.4M | 90,800 | 0.2% | 31 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $8.2M | 10,985 | 0.2% | 13 |
| VALERO ENERGY CORP | [VLO](https://holderbook.com/stocks/VLO/) | $8.2M | 31,400 | 0.2% | 3 |

## 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 | +3.7% | +14.8% | -11.2% | 100% |
| Q1 2026 | +4.8% | -4.6% | +9.5% | 100% |
| Q4 2025 | +5.8% | +2.4% | +3.4% | 100% |
| Q3 2025 | +9.2% | +7.8% | +1.4% | 100% |
| Q2 2025 | +8.4% | +10.5% | -2.0% | 99% |
| Q1 2025 | +0.6% | -4.6% | +5.1% | 100% |
| Q4 2024 | -5.4% | +2.1% | -7.5% | 97% |
| Q3 2024 | +10.1% | +5.4% | +4.7% | 97% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $3.5B | 274 |
| Q1 2026 | $3.5B | 269 |
| Q4 2025 | $3.5B | 313 |
| Q3 2025 | $3.3B | 254 |
| Q2 2025 | $3.0B | 322 |
| Q1 2025 | $2.9B | 314 |
| Q4 2024 | $2.9B | 309 |
| Q3 2024 | $3.0B | 306 |
| Q2 2024 | $2.7B | 259 |
| Q1 2024 | $2.5B | 256 |
| Q4 2023 | $2.5B | 251 |
| Q3 2023 | $2.3B | 251 |