# CIDEL ASSET MANAGEMENT INC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1621915. Source: https://holderbook.com/funds/1621915-cidel-asset-management-inc/

- Reported value: $2.1B
- Positions: 480
- Weight of the ten largest: 28.3%
- Filed: 2026-07-17

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/) | $107.9M | 521,130 | 5.2% | 31 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $81.3M | 280,800 | 3.9% | 31 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $55.3M | 276,581 | 2.7% | 6 |
| TORONTO DOMINION BK ONT | [TD](https://holderbook.com/stocks/TD/) | $54.5M | 448,298 | 2.6% | 31 |
| BANK MONTREAL MEDIUM | [BMO](https://holderbook.com/stocks/BMO/) | $51.9M | 294,015 | 2.5% | 31 |
| FORTIS INC | [FTS](https://holderbook.com/stocks/FTS/) | $51.9M | 906,780 | 2.5% | 31 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $49.5M | 132,721 | 2.4% | 31 |
| CANADIAN NATL RY CO | [CNI](https://holderbook.com/stocks/CNI/) | $48.2M | 403,673 | 2.3% | 31 |
| ASTRAZENECA PLC | [AZN](https://holderbook.com/stocks/AZN/) | $44.5M | 234,663 | 2.1% | 2 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $44.1M | 128,445 | 2.1% | 28 |
| RB GLOBAL INC | [RBA](https://holderbook.com/stocks/RBA/) | $43.9M | 377,328 | 2.1% | 13 |
| CANADIAN IMPERIAL BANK OF CO | [CM](https://holderbook.com/stocks/CM/) | $43.8M | 380,736 | 2.1% | 31 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $39.0M | 163,648 | 1.9% | 15 |
| RESTAURANT BRANDS INTL INC | [QSR](https://holderbook.com/stocks/QSR/) | $38.1M | 526,104 | 1.8% | 30 |
| MANULIFE FINL CORP | [MFC](https://holderbook.com/stocks/MFC/) | $33.6M | 827,626 | 1.6% | 31 |
| WASTE CONNECTIONS INC | [WCN](https://holderbook.com/stocks/WCN/) | $33.0M | 198,091 | 1.6% | 31 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $31.9M | 97,432 | 1.5% | 28 |
| CMS ENERGY CORP | [CMS](https://holderbook.com/stocks/CMS/) | $31.0M | 405,656 | 1.5% | 21 |
| BANK NOVA SCOTIA B C | [BNS](https://holderbook.com/stocks/BNS/) | $30.7M | 353,888 | 1.5% | 31 |
| COCA COLA CO | [KO](https://holderbook.com/stocks/KO/) | $29.4M | 361,934 | 1.4% | 11 |
| JACOBS SOLUTIONS INC | [J](https://holderbook.com/stocks/J/) | $28.6M | 227,076 | 1.4% | 14 |
| WEC ENERGY GROUP INC | [WEC](https://holderbook.com/stocks/WEC/) | $26.0M | 222,312 | 1.2% | 11 |
| ASML HLDG NV | [ASML](https://holderbook.com/stocks/ASML/) | $25.5M | 12,811 | 1.2% | 6 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $23.8M | 19,854 | 1.1% | 11 |
| MICRON TECHNOLOGY INC | [MU](https://holderbook.com/stocks/MU/) | $23.6M | 20,468 | 1.1% | 30 |
| RIO TINTO PLC | [RIO](https://holderbook.com/stocks/RIO/) | $22.9M | 241,718 | 1.1% | 15 |
| CONOCOPHILLIPS | [COP](https://holderbook.com/stocks/COP/) | $22.2M | 213,080 | 1.1% | 22 |
| CANADIAN PACIFIC KANSAS CITY | [CP](https://holderbook.com/stocks/CP/) | $22.1M | 255,538 | 1.1% | 13 |
| MARRIOTT INTL INC NEW | [MAR](https://holderbook.com/stocks/MAR/) | $22.0M | 59,376 | 1.1% | 13 |
| MOTOROLA SOLUTIONS INC | [MSI](https://holderbook.com/stocks/MSI/) | $21.1M | 50,865 | 1.0% | 5 |
| COLGATE PALMOLIVE CO | [CL](https://holderbook.com/stocks/CL/) | $20.8M | 227,054 | 1.0% | 13 |
| ABBOTT LABORATORIES | [ABT](https://holderbook.com/stocks/ABT/) | $20.7M | 227,603 | 1.0% | 11 |
| SUNCOR ENERGY INC NEW | [SU](https://holderbook.com/stocks/SU/) | $20.3M | 376,897 | 1.0% | 31 |
| TE CONNECTIVITY PLC | [TEL](https://holderbook.com/stocks/TEL/) | $20.3M | 100,484 | 1.0% | 1 |
| ADVANCED MICRO DEVICES INC | [AMD](https://holderbook.com/stocks/AMD/) | $20.0M | 34,494 | 1.0% | 10 |
| CANADIAN NAT RES LTD MED TER | [CNQ](https://holderbook.com/stocks/CNQ/) | $19.4M | 491,355 | 0.9% | 31 |
| AGNICO EAGLE MINES LTD | [AEM](https://holderbook.com/stocks/AEM/) | $19.1M | 123,011 | 0.9% | 31 |
| INVESCO EXCH TRADED FD TR II | [PXH](https://holderbook.com/stocks/PXH/) | $18.4M | 658,764 | 0.9% | 31 |
| SAP SE | [SAP](https://holderbook.com/stocks/SAP/) | $17.3M | 111,952 | 0.8% | 10 |
| WASTE MGMT INC DEL | [WM](https://holderbook.com/stocks/WM/) | $16.6M | 74,689 | 0.8% | 11 |
| INVESCO EXCHANGE TRADED FD T | [RSP](https://holderbook.com/stocks/RSP/) | $16.6M | 78,090 | 0.8% | 7 |
| GENTEX CORP | [GNTX](https://holderbook.com/stocks/GNTX/) | $16.6M | 655,732 | 0.8% | 7 |
| FRANCO NEV CORP | [FNV](https://holderbook.com/stocks/FNV/) | $16.3M | 78,265 | 0.8% | 31 |
| WHEATON PRECIOUS METALS CORP | [WPM](https://holderbook.com/stocks/WPM/) | $15.5M | 137,538 | 0.7% | 4 |
| WILLIS TOWERS WATSON PLC LTD | [WTW](https://holderbook.com/stocks/WTW/) | $15.3M | 58,359 | 0.7% | 7 |
| CENOVUS ENERGY INC | [CVE](https://holderbook.com/stocks/CVE/) | $14.6M | 589,828 | 0.7% | 1 |
| PEMBINA PIPELINE CORP | [PBA](https://holderbook.com/stocks/PBA/) | $14.2M | 307,057 | 0.7% | 31 |
| STAGWELL INC | [STGW](https://holderbook.com/stocks/STGW/) | $14.0M | 1,878,426 | 0.7% | 19 |
| PROCTER & GAMBLE CO | [PG](https://holderbook.com/stocks/PG/) | $13.9M | 95,112 | 0.7% | 21 |
| CBOE GLOBAL MKTS INC | [CBOE](https://holderbook.com/stocks/CBOE/) | $13.7M | 56,417 | 0.7% | 12 |
| DARDEN RESTAURANTS INC | [DRI](https://holderbook.com/stocks/DRI/) | $13.2M | 64,239 | 0.6% | 2 |
| NETFLIX INC | [NFLX](https://holderbook.com/stocks/NFLX/) | $13.1M | 184,045 | 0.6% | 11 |
| TAIWAN SEMICONDUCTOR MANUFAC | [TSM](https://holderbook.com/stocks/TSM/) | $12.5M | 26,273 | 0.6% | 31 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $12.4M | 34,778 | 0.6% | 31 |
| COLLIERS INTL GROUP INC | [CIGI](https://holderbook.com/stocks/CIGI/) | $11.6M | 123,643 | 0.6% | 29 |
| CGI INC | [GIB](https://holderbook.com/stocks/GIB/) | $10.9M | 168,349 | 0.5% | 30 |
| VANGUARD INDEX FDS | [VOO](https://holderbook.com/stocks/VOO/) | $10.0M | 14,528 | 0.5% | 31 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $9.5M | 26,991 | 0.5% | 6 |
| TESLA INC | [TSLA](https://holderbook.com/stocks/TSLA/) | $9.2M | 21,851 | 0.4% | 31 |
| INTEL CORP | [INTC](https://holderbook.com/stocks/INTC/) | $8.8M | 62,985 | 0.4% | 11 |
| STANTEC INC | [STN](https://holderbook.com/stocks/STN/) | $8.7M | 126,734 | 0.4% | 30 |
| BOYD GROUP SERVICES INC | [BGSI](https://holderbook.com/stocks/BGSI/) | $8.7M | 91,914 | 0.4% | 3 |
| MOODYS CORP | [MCO](https://holderbook.com/stocks/MCO/) | $8.4M | 18,586 | 0.4% | 1 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $8.3M | 16,526 | 0.4% | 6 |
| DESCARTES SYS GROUP INC | [DSGX](https://holderbook.com/stocks/DSGX/) | $8.2M | 117,757 | 0.4% | 13 |
| BERKSHIRE HATHAWAY INC DEL | [BRKA](https://holderbook.com/stocks/BRKA/) | $7.5M | 10 | 0.4% | 30 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $7.4M | 54,372 | 0.4% | 11 |
| CAMECO CORP | [CCJ](https://holderbook.com/stocks/CCJ/) | $7.1M | 70,000 | 0.3% | 30 |
| TFI INTERNATIONAL INC | [TFII](https://holderbook.com/stocks/TFII/) | $7.1M | 49,098 | 0.3% | 3 |
| VANGUARD TAX-MANAGED FDS | [VEA](https://holderbook.com/stocks/VEA/) | $6.8M | 95,913 | 0.3% | 15 |
| CAE INC | [CAE](https://holderbook.com/stocks/CAE/) | $6.7M | 269,136 | 0.3% | 1 |
| VANGUARD SPECIALIZED FUNDS | [VIG](https://holderbook.com/stocks/VIG/) | $6.6M | 28,070 | 0.3% | 8 |
| INVESCO EXCHANGE TRADED FD T | [PRF](https://holderbook.com/stocks/PRF/) | $6.4M | 118,132 | 0.3% | 31 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $5.6M | 33,565 | 0.3% | 19 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $5.5M | 13,198 | 0.3% | 11 |
| NATIONAL GRID PLC | [NGG](https://holderbook.com/stocks/NGG/) | $5.1M | 61,790 | 0.2% | 8 |
| NUTRIEN LTD | [NTR](https://holderbook.com/stocks/NTR/) | $5.0M | 79,717 | 0.2% | 31 |
| BBB FOODS INC | [TBBB](https://holderbook.com/stocks/TBBB/) | $4.9M | 118,334 | 0.2% | 1 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $4.9M | 8,703 | 0.2% | 11 |
| SCHWAB STRATEGIC TR | [FNDX](https://holderbook.com/stocks/FNDX/) | $4.8M | 155,097 | 0.2% | 19 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $4.4M | 77,057 | 0.2% | 30 |
| HUBBELL INC | [HUBB](https://holderbook.com/stocks/HUBB/) | $4.2M | 8,072 | 0.2% | 2 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $4.1M | 16,136 | 0.2% | 31 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $4.1M | 35,910 | 0.2% | 11 |
| CVS HEALTH CORP | [CVS](https://holderbook.com/stocks/CVS/) | $4.0M | 38,234 | 0.2% | 31 |
| HALEON PLC | [HLN](https://holderbook.com/stocks/HLN/) | $3.9M | 423,205 | 0.2% | 4 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $3.8M | 5,009 | 0.2% | 8 |
| VERIZON COMMUNICATIONS INC | [VZ](https://holderbook.com/stocks/VZ/) | $3.6M | 83,905 | 0.2% | 11 |
| WELLS FARGO & CO | [WFC](https://holderbook.com/stocks/WFC/) | $3.4M | 41,427 | 0.2% | 23 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $3.3M | 8,855 | 0.2% | 11 |
| NEXTERA ENERGY INC | [NEE](https://holderbook.com/stocks/NEE/) | $3.3M | 37,424 | 0.2% | 31 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $3.2M | 27,459 | 0.2% | 11 |
| CITIGROUP INC | [C](https://holderbook.com/stocks/C/) | $3.1M | 22,314 | 0.2% | 30 |
| ANALOG DEVICES INC | [ADI](https://holderbook.com/stocks/ADI/) | $2.9M | 7,331 | 0.1% | 25 |
| AMERICAN WTR WKS CO INC NEW | [AWK](https://holderbook.com/stocks/AWK/) | $2.8M | 21,564 | 0.1% | 22 |
| MERCADOLIBRE INC | [MELI](https://holderbook.com/stocks/MELI/) | $2.8M | 1,636 | 0.1% | 18 |
| ENBRIDGE INC | [ENB](https://holderbook.com/stocks/ENB/) | $2.7M | 50,063 | 0.1% | 31 |
| COMCAST CORP NEW | [CMCSA](https://holderbook.com/stocks/CMCSA/) | $2.7M | 109,575 | 0.1% | 31 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $2.6M | 2,825 | 0.1% | 31 |
| AT&T INC | [T](https://holderbook.com/stocks/T/) | $2.6M | 124,266 | 0.1% | 11 |

## 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 | +8.8% | +14.8% | -6.0% | 100% |
| Q1 2026 | -2.5% | -4.6% | +2.1% | 100% |
| Q4 2025 | +1.7% | +2.4% | -0.7% | 100% |
| Q3 2025 | +4.1% | +7.8% | -3.7% | 100% |
| Q2 2025 | +7.2% | +10.5% | -3.3% | 100% |
| Q1 2025 | +0.1% | -4.6% | +4.7% | 100% |
| Q4 2024 | -2.9% | +2.1% | -5.1% | 99% |
| Q3 2024 | +6.8% | +5.4% | +1.4% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $2.1B | 480 |
| Q1 2026 | $1.8B | 436 |
| Q4 2025 | $1.4B | 365 |
| Q3 2025 | $1.7B | 357 |
| Q2 2025 | $1.7B | 360 |
| Q1 2025 | $1.5B | 340 |
| Q4 2024 | $1.5B | 340 |
| Q3 2024 | $1.4B | 348 |
| Q2 2024 | $1.3B | 319 |
| Q1 2024 | $1.3B | 329 |
| Q4 2023 | $2.3B | 316 |
| Q3 2023 | $2.0B | 143 |