CIDEL ASSET MANAGEMENT INC
Long book
$1.83B
Q1 2026
Positions
436
Top-10 weight
30%
concentration
Last quarter
+9.9%
SPY +14.8%
Turnover
19%
of book per quarter
Strategy in plain words
auto-generated from filingsCIDEL ASSET MANAGEMENT INC is an institutional manager, running a $1.83B US long book across 436 positions.
The portfolio is moderately concentrated (top 10 ≈ 30% of the book). Turnover is modest: positions are typically held for years. Current anchor positions: ROYAL BANK OF CANADA, RB GLOBAL INC, ASTRAZENECA PLC, FORTIS INC, TORONTO-DOMINION BANK.
Over the last 9 quarters its long book ran on average 1.4pp per quarter behind the S&P 500, beating the index in 3 of 9 quarters. Signal value of individual moves is limited — treat changes as weak evidence.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-1.3%
Q2 2024
+7.9%
Q3 2024
-2.4%
Q4 2024
+0.7%
Q1 2025
+7.6%
Q2 2025
+5.0%
Q3 2025
+2.2%
Q4 2025
-1.9%
Q1 2026
+9.9%
Sector allocation
Financials 22%
Technology 14%
Services media 13%
Utilities 12%
Industrials 11%
Healthcare 9%
Consumer discretionary 6%
Energy 5%
Long book by quarter
What does CIDEL ASSET own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| RY ROYAL BANK OF CANADA | Financials | 553.5K | $89.2M | 4.9% | +88.7% |
| RBA RB GLOBAL INC | Services media | 599.8K | $57.3M | 3.1% | +80.4% |
| AZN ASTRAZENECA PLC | Healthcare | 279.5K | $55.1M | 3.0% | New |
| FTS FORTIS INC | Utilities | 981.2K | $54.6M | 3.0% | +82.5% |
| TD TORONTO-DOMINION BANK | Financials | 572.7K | $53.3M | 2.9% | +184.1% |
| CNI CANADIAN NATL RAILWAY CO | Industrials | 515.4K | $52.9M | 2.9% | +92.4% |
| QSR RESTAURANT BRANDS INTERN | Consumer discretionary | 693.1K | $51.1M | 2.8% | +79.3% |
| AAPL APPLE INC | Technology | 193.4K | $49.1M | 2.7% | +150.8% |
| MSFT MICROSOFT CORP | Technology | 125.2K | $46.3M | 2.5% | -20.4% |
| CM CAN IMPERIAL BK OF COMMERCE | Financials | 489.8K | $46.3M | 2.5% | +61.1% |
| ABT ABBOTT LABORATORIES | Healthcare | 412.4K | $42.3M | 2.3% | +28.0% |
| NVDA NVIDIA CORP | Technology | 225.5K | $39.3M | 2.1% | +29.2% |
| V VISA INC-CLASS A SHARES | Services media | 126.4K | $38.2M | 2.1% | -7.5% |
| J JACOBS SOLUTIONS INC | Industrials | 289.6K | $36.9M | 2.0% | -6.7% |
| CP CANADIAN PACIFIC KANSAS CITY | Industrials | 398.3K | $31.2M | 1.7% | +249.8% |
| CMS CMS ENERGY CORP | Utilities | 398.1K | $30.9M | 1.7% | +16.5% |
| WCN WASTE CONNECTIONS INC | Utilities | 190.1K | $30.8M | 1.7% | +180.5% |
| WTW WILLIS TOWERS WATSON PLC | Financials | 100.7K | $29.3M | 1.6% | -22.6% |
| MAR MARRIOTT INTERNATIONAL -CL A | Services media | 86.0K | $28.1M | 1.5% | +7.8% |
| COP CONOCOPHILLIPS | Energy | 211.2K | $27.9M | 1.5% | +41.6% |
| JPM JPMORGAN CHASE & CO | Financials | 94.0K | $27.6M | 1.5% | +10.6% |
| CL COLGATE-PALMOLIVE CO | Other | 320.9K | $27.4M | 1.5% | +6.5% |
| WEC WEC ENERGY GROUP INC | Utilities | 217.8K | $25.2M | 1.4% | +7.3% |
| AMZN AMAZON.COM INC | Consumer discretionary | 116.3K | $24.2M | 1.3% | +335.4% |
| GIB CGI INC | Services media | 330.2K | $24.1M | 1.3% | +122.6% |
| CBOE CBOE GLOBAL MARKETS INC | Financials | 79.4K | $22.3M | 1.2% | +11.8% |
| AQN ALGONQUIN POWER & UTILITIES | Utilities | 3.5M | $21.6M | 1.2% | +42.1% |
| BGSI THE BOYD GROUP INC | Services media | 152.9K | $19.5M | 1.1% | +169.6% |
| MSI MOTOROLA SOLUTIONS INC | Technology | 43.2K | $18.8M | 1.0% | +11.3% |
| LLY ELI LILLY & CO | Healthcare | 19.7K | $18.1M | 1.0% | -21.7% |
| ZTS ZOETIS INC | Healthcare | 149.9K | $17.7M | 1.0% | +47.2% |
| BMO BANK OF MONTREAL | Financials | 130.6K | $17.6M | 1.0% | +513.3% |
| WM WASTE MANAGEMENT INC | Utilities | 70.3K | $16.2M | 0.9% | +4160.1% |
| MFC MANULIFE FINANCIAL CORP | Financials | 416.2K | $14.3M | 0.8% | +1.3% |
| GNTX GENTEX CORP | Industrials | 647.4K | $14.1M | 0.8% | +61.4% |
| STN STANTEC INC | Services media | 163.7K | $14.1M | 0.8% | +159.0% |
| CIGI COLLIERS INTL GR-SUBORD VOT | Real estate | 127.9K | $13.6M | 0.7% | +189.4% |
| ASML ASML HOLDING NV-NY REG SHS | Industrials | 10.3K | $13.6M | 0.7% | -24.6% |
| PG PROCTER & GAMBLE CO/THE | Other | 92.5K | $13.4M | 0.7% | +26.7% |
| STGW STAGWELL INC | Services media | 2.0M | $12.8M | 0.7% | Held |
| NFLX NETFLIX INC | Services media | 126.5K | $12.2M | 0.7% | +1449.1% |
| AMD ADVANCED MICRO DEVICES | Technology | 56.1K | $11.4M | 0.6% | +2152.8% |
| PBA PEMBINA PIPELINE CORP | Energy | 251.7K | $11.2M | 0.6% | +1.0% |
| BNS BANK OF NOVA SCOTIA | Financials | 161.5K | $11.2M | 0.6% | +11.4% |
| LULU LULULEMON ATHLETICA INC | Other | 72.3K | $11.1M | 0.6% | New |
| GOOGL ALPHABET INC-CL A | Technology | 37.2K | $10.7M | 0.6% | +11.8% |
| TRI4EUR THOMSON REUTERS CORP | — | 107.2K | $9.6M | 0.5% | +122.1% |
| XOM EXXON MOBIL CORP | Energy | 55.5K | $9.4M | 0.5% | +15.1% |
| SU SUNCOR ENERGY INC | Energy | 139.3K | $9.2M | 0.5% | +1673.2% |
| DSGX DESCARTES SYSTEMS GRP/THE | Technology | 121.3K | $8.7M | 0.5% | +124.4% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | Apr 17, 2026 | 436 | $1.83B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Jan 21, 2026 | 365 | $1.41B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 7, 2025 | 357 | $1.74B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Jul 29, 2025 | 360 | $1.66B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | Apr 28, 2025 | 340 | $1.53B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Jan 28, 2025 | 340 | $1.49B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 4, 2024 | 348 | $1.42B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Jul 22, 2024 | 319 | $1.29B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 8, 2024 | 329 | $1.32B | canonical | SEC ↗ |
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