Cardinal Point Capital Management ULC
Long book
$1.63B
Q1 2026
Positions
286
Top-10 weight
43%
concentration
Last quarter
+8.9%
SPY +14.8%
Turnover
23%
of book per quarter
Strategy in plain words
auto-generated from filingsCardinal Point Capital Management ULC is a wealth-management firm allocating client money, running a $1.63B US long book across 286 positions.
The portfolio is moderately concentrated (top 10 ≈ 43% of the book). Turnover is modest: positions are typically held for years. Current anchor positions: VANGUARD TOTAL STOCK MKT ETF, WISDOMTREE FLOATING RATE TRE, VANGUARD FTSE ALL-WORLD EX-U, VANGUARD INTERMEDIATE-TERM T, DIMENSIONAL WORLD EX US CORE.
Over the last 9 quarters its long book ran on average 0.4pp per quarter behind the S&P 500, beating the index in 4 of 9 quarters. Its holdings are mechanical (indexing / client flows), so position changes carry no stock-picking signal.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+2.4%
Q2 2024
+4.7%
Q3 2024
+0.2%
Q4 2024
-0.8%
Q1 2025
+7.6%
Q2 2025
+9.2%
Q3 2025
+4.3%
Q4 2025
+0.5%
Q1 2026
+8.9%
Sector allocation
Technology 27%
Financials 22%
Energy 10%
Industrials 8%
Healthcare 6%
Consumer discretionary 6%
Materials 6%
Services media 4%
Long book by quarter
What does Cardinal Point own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| AAPL APPLE INC | Technology | 234.6K | $59.6M | 3.7% | -14.4% |
| RY ROYAL BANK OF CANADA | Financials | 196.5K | $31.7M | 1.9% | -0.8% |
| GOOG ALPHABET INC-CL C | Technology | 101.2K | $29.0M | 1.8% | -1.3% |
| TD TORONTO-DOMINION BANK | Financials | 293.0K | $27.3M | 1.7% | -1.3% |
| NVDA NVIDIA CORP | Technology | 153.1K | $26.7M | 1.6% | +302.0% |
| SU SUNCOR ENERGY INC | Energy | 378.5K | $25.0M | 1.5% | -4.3% |
| BMO BANK OF MONTREAL | Financials | 176.7K | $23.9M | 1.5% | -1.0% |
| WMT WALMART INC | Consumer discretionary | 164.4K | $20.4M | 1.3% | -3.6% |
| CSCO CISCO SYSTEMS INC | Technology | 237.6K | $18.4M | 1.1% | -2.7% |
| JNJ JOHNSON & JOHNSON | Healthcare | 74.0K | $18.1M | 1.1% | -3.1% |
| JPM JPMORGAN CHASE & CO | Financials | 60.9K | $17.9M | 1.1% | +1.2% |
| ENB ENBRIDGE INC | Energy | 328.2K | $17.8M | 1.1% | +0.1% |
| MSFT MICROSOFT CORP | Technology | 47.1K | $17.4M | 1.1% | +65.3% |
| MFC MANULIFE FINANCIAL CORP | Financials | 471.4K | $16.2M | 1.0% | +1.4% |
| TRP TC ENERGY CORP | Utilities | 252.7K | $15.8M | 1.0% | -0.5% |
| NEM NEWMONT CORP | Materials | 142.6K | $15.4M | 0.9% | +1.5% |
| BNS BANK OF NOVA SCOTIA | Financials | 215.5K | $14.9M | 0.9% | -2.0% |
| AEM AGNICO EAGLE MINES LTD | Materials | 69.1K | $14.0M | 0.9% | -0.4% |
| CNI CANADIAN NATL RAILWAY CO | Industrials | 135.1K | $13.9M | 0.9% | +2.0% |
| RCI ROGERS COMMUNICATIONS INC-B | Communications | 333.1K | $12.8M | 0.8% | +1.5% |
| SUNC SUNOCOCORP LLC | Energy | 203.5K | $12.5M | 0.8% | -0.3% |
| PM PHILIP MORRIS INTERNATIONAL | Consumer staples | 73.2K | $12.1M | 0.7% | -4.1% |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 24.5K | $11.8M | 0.7% | -7.1% |
| CNQ CANADIAN NATURAL RESOURCES | Energy | 230.2K | $11.2M | 0.7% | +0.9% |
| BBUC BROOKFIELD BUSINESS CORP-A | Industrials | 353.0K | $11.1M | 0.7% | New |
| PEP PEPSICO INC | Consumer staples | 71.5K | $11.1M | 0.7% | +0.4% |
| ORCL ORACLE CORP | Technology | 69.8K | $10.3M | 0.6% | +0.4% |
| FDX FEDEX CORP | Industrials | 28.7K | $10.2M | 0.6% | -0.5% |
| OTEX OPEN TEXT CORP | Technology | 446.9K | $9.9M | 0.6% | +74.2% |
| GOOGL ALPHABET INC-CL A | Technology | 33.0K | $9.5M | 0.6% | -3.4% |
| PFE PFIZER INC | Healthcare | 329.1K | $9.2M | 0.6% | +1.7% |
| IBM INTL BUSINESS MACHINES CORP | Technology | 37.3K | $9.0M | 0.6% | +0.8% |
| CVS CVS HEALTH CORP | Healthcare | 122.7K | $8.8M | 0.5% | +0.2% |
| GIB CGI INC | Services media | 120.0K | $8.8M | 0.5% | +7.0% |
| COST COSTCO WHOLESALE CORP | Consumer discretionary | 8.0K | $8.0M | 0.5% | +1.9% |
| AMZN AMAZON.COM INC | Consumer discretionary | 37.1K | $7.7M | 0.5% | +13.6% |
| TSLA TESLA INC | Industrials | 20.7K | $7.7M | 0.5% | +19.6% |
| V VISA INC-CLASS A SHARES | Services media | 22.1K | $6.7M | 0.4% | -2.3% |
| CMCSA COMCAST CORP-CLASS A | Communications | 177.9K | $5.1M | 0.3% | +2.6% |
| VTRS VIATRIS INC | Healthcare | 328.7K | $4.4M | 0.3% | +0.3% |
| KVUE KENVUE INC | Other | 257.1K | $4.4M | 0.3% | -15.3% |
| FIX COMFORT SYSTEMS USA INC | Industrials | 3.1K | $4.3M | 0.3% | -28.5% |
| MCD MCDONALD'S CORP | Consumer discretionary | 12.4K | $3.9M | 0.2% | -0.8% |
| DIS WALT DISNEY CO/THE | Services media | 38.3K | $3.7M | 0.2% | -5.7% |
| GLW CORNING INC | Industrials | 22.9K | $3.1M | 0.2% | -12.8% |
| CM CAN IMPERIAL BK OF COMMERCE | Financials | 28.2K | $2.7M | 0.2% | -4.1% |
| AGI ALAMOS GOLD INC-CLASS A | Materials | 60.0K | $2.7M | 0.2% | -0.2% |
| BGSI THE BOYD GROUP INC | Services media | 20.1K | $2.6M | 0.2% | +8.0% |
| META META PLATFORMS INC-CLASS A | Technology | 4.3K | $2.5M | 0.2% | +34.2% |
| TAC TRANSALTA CORP | Utilities | 182.7K | $2.4M | 0.1% | +8.5% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | Apr 20, 2026 | 286 | $1.63B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 5, 2026 | 260 | $1.53B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 6, 2025 | 266 | $1.43B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Jul 31, 2025 | 242 | $1.26B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 8, 2025 | 179 | $1.09B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Jan 14, 2025 | 84 | $629.9M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Oct 8, 2024 | 83 | $599.9M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Jul 12, 2024 | 73 | $574.8M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | Apr 24, 2024 | 72 | $525.6M | canonical | SEC ↗ |