# Cardinal Point Capital Management ULC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1950841. Source: https://holderbook.com/funds/1950841-cardinal-point-capital-management-ulc/

- Reported value: $1.8B
- Positions: 294
- Weight of the ten largest: 43.7%
- Filed: 2026-07-14

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 |
|---|---|---|---|---|---|
| VANGUARD INDEX FDS | [VTI](https://holderbook.com/stocks/VTI/) | $229.1M | 619,030 | 13.0% | 15 |
| VANGUARD INTL EQUITY INDEX F | [VEU](https://holderbook.com/stocks/VEU/) | $76.9M | 918,218 | 4.4% | 15 |
| DIMENSIONAL ETF TRUST | [DFAX](https://holderbook.com/stocks/DFAX/) | $72.3M | 1,963,742 | 4.1% | 10 |
| WISDOMTREE TR | [USFR](https://holderbook.com/stocks/USFR/) | $72.3M | 1,436,227 | 4.1% | 15 |
| VANGUARD SCOTTSDALE FDS | [VGIT](https://holderbook.com/stocks/VGIT/) | $70.0M | 1,186,491 | 4.0% | 12 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $69.8M | 241,074 | 4.0% | 15 |
| ISHARES TR | [LRGF](https://holderbook.com/stocks/LRGF/) | $55.7M | 736,666 | 3.2% | 15 |
| DIMENSIONAL ETF TRUST | [DFAC](https://holderbook.com/stocks/DFAC/) | $46.0M | 1,037,411 | 2.6% | 15 |
| ROYAL BK CDA | [RY](https://holderbook.com/stocks/RY/) | $39.8M | 192,782 | 2.3% | 6 |
| ISHARES TR | [MUB](https://holderbook.com/stocks/MUB/) | $39.6M | 368,010 | 2.2% | 10 |
| LITMAN GREGORY FDS TR | [DBMF](https://holderbook.com/stocks/DBMF/) | $38.5M | 1,257,839 | 2.2% | 11 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $37.7M | 106,673 | 2.1% | 12 |
| TORONTO DOMINION BK ONT | [TD](https://holderbook.com/stocks/TD/) | $34.7M | 286,027 | 2.0% | 6 |
| PIMCO ETF TR | [PYLD](https://holderbook.com/stocks/PYLD/) | $33.6M | 1,268,316 | 1.9% | 9 |
| BANK MONTREAL MEDIUM | [BMO](https://holderbook.com/stocks/BMO/) | $31.0M | 175,545 | 1.8% | 6 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $30.8M | 153,736 | 1.7% | 10 |
| PIMCO ETF TR | [MINO](https://holderbook.com/stocks/MINO/) | $27.0M | 589,978 | 1.5% | 4 |
| VANGUARD INSTL INDEX FD | [VBIL](https://holderbook.com/stocks/VBIL/) | $24.3M | 320,743 | 1.4% | 2 |
| ISHARES GOLD TR | [IAU](https://holderbook.com/stocks/IAU/) | $22.3M | 295,330 | 1.3% | 15 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $20.0M | 60,964 | 1.1% | 6 |
| SUNCOR ENERGY INC NEW | [SU](https://holderbook.com/stocks/SU/) | $19.9M | 370,018 | 1.1% | 6 |
| ISHARES TR | [TFLO](https://holderbook.com/stocks/TFLO/) | $18.9M | 373,096 | 1.1% | 14 |
| MANULIFE FINL CORP | [MFC](https://holderbook.com/stocks/MFC/) | $18.9M | 465,926 | 1.1% | 6 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $18.7M | 159,168 | 1.1% | 6 |
| BANK NOVA SCOTIA B C | [BNS](https://holderbook.com/stocks/BNS/) | $18.6M | 214,403 | 1.1% | 6 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $18.5M | 72,763 | 1.0% | 6 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $18.1M | 159,441 | 1.0% | 6 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $17.9M | 47,939 | 1.0% | 12 |
| ENBRIDGE INC | [ENB](https://holderbook.com/stocks/ENB/) | $17.4M | 321,142 | 1.0% | 6 |
| TC ENERGY CORP | [TRP](https://holderbook.com/stocks/TRP/) | $16.7M | 252,072 | 0.9% | 6 |
| CANADIAN NATL RY CO | [CNI](https://holderbook.com/stocks/CNI/) | $16.1M | 134,987 | 0.9% | 6 |
| SUNOCOCORP LLC | [SUNC](https://holderbook.com/stocks/SUNC/) | $13.7M | 201,830 | 0.8% | 3 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $13.4M | 26,745 | 0.8% | 15 |
| PHILIP MORRIS INTL INC | [PM](https://holderbook.com/stocks/PM/) | $13.3M | 73,386 | 0.8% | 6 |
| NEWMONT CORP | [NEM](https://holderbook.com/stocks/NEM/) | $13.2M | 141,413 | 0.7% | 6 |
| CVS HEALTH CORP | [CVS](https://holderbook.com/stocks/CVS/) | $12.8M | 123,764 | 0.7% | 6 |
| FIRST TR EXCH TRADED FD III | [FTLS](https://holderbook.com/stocks/FTLS/) | $11.3M | 153,708 | 0.6% | 15 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $11.3M | 31,484 | 0.6% | 10 |
| VANECK ETF TRUST | [GDX](https://holderbook.com/stocks/GDX/) | $11.2M | 148,581 | 0.6% | 6 |
| AGNICO EAGLE MINES LTD | [AEM](https://holderbook.com/stocks/AEM/) | $11.0M | 70,836 | 0.6% | 6 |
| INTERNATIONAL BUSINESS MACHS | [IBM](https://holderbook.com/stocks/IBM/) | $11.0M | 39,033 | 0.6% | 6 |
| ROGERS COMMUNICATIONS INC | [RCI](https://holderbook.com/stocks/RCI/) | $10.8M | 331,090 | 0.6% | 6 |
| BROOKFIELD BUSINESS CORP | [BBUC](https://holderbook.com/stocks/BBUC/) | $10.6M | 354,970 | 0.6% | 2 |
| VANGUARD MUN BD FDS | [VTEB](https://holderbook.com/stocks/VTEB/) | $10.4M | 204,989 | 0.6% | 2 |
| ORACLE CORP | [ORCL](https://holderbook.com/stocks/ORCL/) | $10.3M | 70,256 | 0.6% | 6 |
| OPEN TEXT CORP | [OTEX](https://holderbook.com/stocks/OTEX/) | $9.9M | 447,449 | 0.6% | 6 |
| PEPSICO INC | [PEP](https://holderbook.com/stocks/PEP/) | $9.7M | 71,831 | 0.6% | 6 |
| CANADIAN NAT RES LTD MED TER | [CNQ](https://holderbook.com/stocks/CNQ/) | $9.2M | 232,108 | 0.5% | 6 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $9.1M | 38,097 | 0.5% | 12 |
| TESLA INC | [TSLA](https://holderbook.com/stocks/TSLA/) | $8.8M | 21,033 | 0.5% | 15 |
| FEDEX CORP | [FDX](https://holderbook.com/stocks/FDX/) | $8.8M | 28,152 | 0.5% | 6 |
| DIMENSIONAL ETF TRUST | [DFSU](https://holderbook.com/stocks/DFSU/) | $8.5M | 182,564 | 0.5% | 10 |
| CGI INC | [GIB](https://holderbook.com/stocks/GIB/) | $8.0M | 124,257 | 0.5% | 6 |
| PFIZER INC | [PFE](https://holderbook.com/stocks/PFE/) | $8.0M | 332,062 | 0.5% | 6 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $7.8M | 8,366 | 0.4% | 8 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $7.6M | 22,017 | 0.4% | 8 |
| VANGUARD WORLD FD | [VGT](https://holderbook.com/stocks/VGT/) | $6.3M | 52,872 | 0.4% | 10 |
| COMFORT SYS USA INC | [FIX](https://holderbook.com/stocks/FIX/) | $6.2M | 3,149 | 0.4% | 5 |
| VANGUARD INDEX FDS | [VOO](https://holderbook.com/stocks/VOO/) | $5.8M | 8,447 | 0.3% | 15 |
| CORNING INC | [GLW](https://holderbook.com/stocks/GLW/) | $5.7M | 22,177 | 0.3% | 6 |
| VIATRIS INC | [VTRS](https://holderbook.com/stocks/VTRS/) | $5.2M | 329,921 | 0.3% | 6 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $5.1M | 6,847 | 0.3% | 9 |
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $4.6M | 6,297 | 0.3% | 15 |
| COMCAST CORP NEW | [CMCSA](https://holderbook.com/stocks/CMCSA/) | $4.5M | 183,145 | 0.3% | 6 |
| MCDONALDS CORP | [MCD](https://holderbook.com/stocks/MCD/) | $3.4M | 12,529 | 0.2% | 6 |
| CANADIAN IMPERIAL BANK OF CO | [CM](https://holderbook.com/stocks/CM/) | $3.3M | 29,132 | 0.2% | 6 |
| DIMENSIONAL ETF TRUST | [DFSI](https://holderbook.com/stocks/DFSI/) | $3.3M | 73,261 | 0.2% | 10 |
| DISNEY WALT CO | [DIS](https://holderbook.com/stocks/DIS/) | $3.0M | 31,552 | 0.2% | 6 |
| SELECT SECTOR SPDR TR | [XLK](https://holderbook.com/stocks/XLK/) | $2.8M | 14,737 | 0.2% | 11 |
| VANGUARD INDEX FDS | [VTV](https://holderbook.com/stocks/VTV/) | $2.7M | 12,584 | 0.2% | 3 |
| SUN LIFE FINANCIAL INC. | [SLF](https://holderbook.com/stocks/SLF/) | $2.7M | 34,281 | 0.2% | 6 |
| FIRST TR EXCHANGE TRADED FD | [AIRR](https://holderbook.com/stocks/AIRR/) | $2.6M | 19,245 | 0.1% | 2 |
| MICRON TECHNOLOGY INC | [MU](https://holderbook.com/stocks/MU/) | $2.5M | 2,188 | 0.1% | 4 |
| TRANSALTA CORP | [TAC](https://holderbook.com/stocks/TAC/) | $2.5M | 182,560 | 0.1% | 6 |
| TCW ETF TRUST | [PWRD](https://holderbook.com/stocks/PWRD/) | $2.5M | 20,215 | 0.1% | 2 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $2.5M | 3,289 | 0.1% | 8 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $2.4M | 42,876 | 0.1% | 6 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $2.4M | 4,299 | 0.1% | 8 |
| BOYD GROUP SERVICES INC | [BGSI](https://holderbook.com/stocks/BGSI/) | $2.4M | 25,505 | 0.1% | 3 |
| GE VERNOVA INC | [GEV](https://holderbook.com/stocks/GEV/) | $2.3M | 1,967 | 0.1% | 5 |
| CITIGROUP INC | [C](https://holderbook.com/stocks/C/) | $2.3M | 16,357 | 0.1% | 6 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $2.3M | 5,473 | 0.1% | 5 |
| ISHARES TR | [SUSB](https://holderbook.com/stocks/SUSB/) | $2.3M | 91,001 | 0.1% | 15 |
| VANGUARD INDEX FDS | [VUG](https://holderbook.com/stocks/VUG/) | $2.2M | 25,788 | 0.1% | 2 |
| BROOKFIELD CORP | [BN](https://holderbook.com/stocks/BN/) | $2.2M | 52,006 | 0.1% | 6 |
| FEDEX FGHT HLDG CO INC | - | $2.2M | 14,602 | 0.1% | 1 |
| ISHARES TR | [ITA](https://holderbook.com/stocks/ITA/) | $2.1M | 8,780 | 0.1% | 5 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $2.1M | 8,437 | 0.1% | 6 |
| ISHARES TR | [EAOR](https://holderbook.com/stocks/EAOR/) | $2.0M | 53,915 | 0.1% | 15 |
| LAUDER ESTEE COS INC | [EL](https://holderbook.com/stocks/EL/) | $2.0M | 25,745 | 0.1% | 5 |
| YETI HLDGS INC | [YETI](https://holderbook.com/stocks/YETI/) | $2.0M | 39,400 | 0.1% | 6 |
| CAE INC | [CAE](https://holderbook.com/stocks/CAE/) | $1.9M | 77,661 | 0.1% | 6 |
| TELUS CORPORATION | [TU](https://holderbook.com/stocks/TU/) | $1.9M | 178,947 | 0.1% | 6 |
| VANGUARD INDEX FDS | [VBR](https://holderbook.com/stocks/VBR/) | $1.8M | 7,612 | 0.1% | 2 |
| ALAMOS GOLD INC | [AGI](https://holderbook.com/stocks/AGI/) | $1.8M | 60,000 | 0.1% | 6 |
| ISHARES TR | [EAOA](https://holderbook.com/stocks/EAOA/) | $1.8M | 39,025 | 0.1% | 15 |
| MAGNITE INC | [MGNI](https://holderbook.com/stocks/MGNI/) | $1.7M | 92,150 | 0.1% | 6 |
| ISHARES TR | [CRBN](https://holderbook.com/stocks/CRBN/) | $1.7M | 6,794 | 0.1% | 15 |
| ISHARES TR | [IWF](https://holderbook.com/stocks/IWF/) | $1.7M | 13,487 | 0.1% | 14 |
| NETFLIX INC | [NFLX](https://holderbook.com/stocks/NFLX/) | $1.6M | 22,565 | 0.1% | 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 | +8.0% | +14.8% | -6.8% | 100% |
| Q1 2026 | +0.0% | -4.6% | +4.6% | 99% |
| Q4 2025 | +3.7% | +2.4% | +1.3% | 100% |
| Q3 2025 | +8.7% | +7.8% | +0.9% | 100% |
| Q2 2025 | +7.4% | +10.5% | -3.0% | 93% |
| Q1 2025 | -1.2% | -4.6% | +3.3% | 100% |
| Q4 2024 | -0.6% | +2.1% | -2.8% | 100% |
| Q3 2024 | +4.0% | +5.4% | -1.4% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $1.8B | 294 |
| Q1 2026 | $1.6B | 286 |
| Q4 2025 | $1.5B | 260 |
| Q3 2025 | $1.4B | 266 |
| Q2 2025 | $1.3B | 242 |
| Q1 2025 | $1.1B | 179 |
| Q4 2024 | $629.9M | 84 |
| Q3 2024 | $599.9M | 83 |
| Q2 2024 | $574.8M | 73 |
| Q1 2024 | $525.6M | 72 |
| Q4 2023 | $413.5M | 69 |
| Q3 2023 | $382.2M | 67 |