Connor, Clark & Lunn Investment Management Ltd.
Long book
$43.40B
Q1 2026
Positions
1526
Top-10 weight
23%
concentration
Last quarter
+11.1%
SPY +14.8%
Turnover
32%
of book per quarter
Strategy in plain words
auto-generated from filingsConnor, Clark & Lunn Investment Management Ltd. is a mechanically diversified allocator, running a $43.40B US long book across 1526 positions.
The portfolio is broadly diversified across 1526 positions (top 10 only 23%). The portfolio is actively managed, with meaningful quarterly turnover. Current anchor positions: ROYAL BANK OF CANADA, AGNICO EAGLE MINES LTD, TORONTO-DOMINION BANK, SUNCOR ENERGY INC, ENBRIDGE INC.
Over the last 9 quarters its long book ran on average 1pp per quarter ahead of the S&P 500, beating the index in 6 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
-0.1%
Q2 2024
+8.6%
Q3 2024
+0.4%
Q4 2024
-1.4%
Q1 2025
+12.5%
Q2 2025
+11.6%
Q3 2025
+5.4%
Q4 2025
+1.3%
Q1 2026
+11.1%
Sector allocation
Technology 20%
Financials 20%
Industrials 12%
Materials 12%
Energy 10%
Utilities 6%
Consumer discretionary 6%
Healthcare 5%
Long book by quarter
What does Connor, Clark own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| RY ROYAL BANK OF CANADA | Financials | 10.8M | $1.75B | 4.0% | -6.1% |
| AEM AGNICO EAGLE MINES LTD | Materials | 5.7M | $1.17B | 2.7% | -11.9% |
| TD TORONTO-DOMINION BANK | Financials | 10.6M | $992.6M | 2.3% | +16.7% |
| SU SUNCOR ENERGY INC | Energy | 14.5M | $960.5M | 2.2% | +48.2% |
| ENB ENBRIDGE INC | Energy | 17.4M | $944.4M | 2.2% | +76.5% |
| NVDA NVIDIA CORP | Technology | 5.2M | $903.5M | 2.1% | +17.0% |
| CM CAN IMPERIAL BK OF COMMERCE | Financials | 9.1M | $864.5M | 2.0% | -1.1% |
| TRP TC ENERGY CORP | Utilities | 13.1M | $816.3M | 1.9% | +35.2% |
| AAPL APPLE INC | Technology | 3.0M | $766.8M | 1.8% | +32.6% |
| SHOP SHOPIFY INC - CLASS A | Technology | 6.4M | $757.7M | 1.7% | +2.9% |
| BNS BANK OF NOVA SCOTIA | Financials | 9.3M | $647.2M | 1.5% | -8.4% |
| CP CANADIAN PACIFIC KANSAS CITY | Industrials | 7.1M | $557.1M | 1.3% | +34.5% |
| MSFT MICROSOFT CORP | Technology | 1.5M | $541.4M | 1.2% | +27.0% |
| AMZN AMAZON.COM INC | Consumer discretionary | 2.4M | $509.8M | 1.2% | +21.6% |
| CNI CANADIAN NATL RAILWAY CO | Industrials | 4.6M | $471.0M | 1.1% | +49.1% |
| CLS CELESTICA INC | Technology | 1.7M | $470.8M | 1.1% | +2.6% |
| GOOGL ALPHABET INC-CL A | Technology | 1.5M | $441.0M | 1.0% | +113.4% |
| CCJ CAMECO CORP | Materials | 3.7M | $399.8M | 0.9% | -14.6% |
| GOOG ALPHABET INC-CL C | Technology | 1.4M | $393.2M | 0.9% | 0.0% |
| B BARRICK MINING CORP | Materials | 8.6M | $351.1M | 0.8% | -14.6% |
| CNQ CANADIAN NATURAL RESOURCES | Energy | 6.7M | $327.7M | 0.8% | +11.6% |
| KGC KINROSS GOLD CORP | Materials | 10.7M | $326.9M | 0.8% | -12.9% |
| MA MASTERCARD INC - A | Services media | 573.5K | $286.5M | 0.7% | +78.7% |
| BMO BANK OF MONTREAL | Financials | 2.1M | $283.2M | 0.7% | +1.0% |
| ASML ASML HOLDING NV-NY REG SHS | Industrials | 207.5K | $274.1M | 0.6% | -24.4% |
| WCN WASTE CONNECTIONS INC | Utilities | 1.7M | $271.9M | 0.6% | +26.0% |
| FTS FORTIS INC | Utilities | 4.8M | $270.2M | 0.6% | +14.2% |
| V VISA INC-CLASS A SHARES | Services media | 850.7K | $257.1M | 0.6% | +12.0% |
| AVGO BROADCOM INC | Technology | 812.0K | $251.3M | 0.6% | -14.3% |
| MDA MDA SPACE LTD | Industrials | 9.7M | $246.0M | 0.6% | New |
| MCD MCDONALD'S CORP | Consumer discretionary | 763.1K | $237.2M | 0.5% | +55.2% |
| LLY ELI LILLY & CO | Healthcare | 256.9K | $236.3M | 0.5% | +234.1% |
| EFXT ENERFLEX LTD | Industrials | 11.2M | $234.2M | 0.5% | +30.9% |
| CVE CENOVUS ENERGY INC | Energy | 8.8M | $233.7M | 0.5% | +23.5% |
| META META PLATFORMS INC-CLASS A | Technology | 408.0K | $233.4M | 0.5% | +54.4% |
| LRCX LAM RESEARCH CORP | Industrials | 1.1M | $232.5M | 0.5% | +34.8% |
| CVX CHEVRON CORP | Energy | 1.1M | $228.6M | 0.5% | +2954.2% |
| UNP UNION PACIFIC CORP | Industrials | 929.5K | $225.5M | 0.5% | +26.6% |
| MU MICRON TECHNOLOGY INC | Technology | 651.7K | $220.2M | 0.5% | -8.1% |
| MFC MANULIFE FINANCIAL CORP | Financials | 6.1M | $211.3M | 0.5% | -18.9% |
| MS MORGAN STANLEY | Financials | 1.3M | $206.2M | 0.5% | +69.6% |
| BN BROOKFIELD CORP | Real estate | 4.9M | $200.1M | 0.5% | -10.0% |
| COST COSTCO WHOLESALE CORP | Consumer discretionary | 195.4K | $194.7M | 0.4% | +84.9% |
| SCHW SCHWAB (CHARLES) CORP | Financials | 2.1M | $193.9M | 0.4% | +31.1% |
| KMI KINDER MORGAN INC | Utilities | 5.7M | $192.0M | 0.4% | +33.5% |
| BTE BAYTEX ENERGY CORP | Energy | 39.8M | $178.1M | 0.4% | +34.3% |
| SNPS SYNOPSYS INC | Technology | 439.3K | $174.2M | 0.4% | +757.2% |
| PAAS PAN AMERICAN SILVER CORP | Materials | 3.1M | $170.5M | 0.4% | -22.1% |
| XOM EXXON MOBIL CORP | Energy | 1.0M | $170.3M | 0.4% | -35.6% |
| LMT LOCKHEED MARTIN CORP | Industrials | 277.7K | $167.8M | 0.4% | +182.4% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 11, 2026 | 1526 | $43.40B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 10, 2026 | 1508 | $38.13B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 13, 2025 | 1475 | $31.74B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 7, 2025 | 1486 | $28.39B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 12, 2025 | 1383 | $22.92B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 10, 2025 | 1386 | $22.12B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 8, 2024 | 1400 | $20.63B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 9, 2024 | 1345 | $23.81B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 9, 2024 | 1501 | $23.25B | canonical | SEC ↗ |
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