GUARDIAN CAPITAL LP
Long book
$3.78B
Q1 2026
Positions
160
Top-10 weight
36%
concentration
Last quarter
+6.7%
SPY +14.8%
Turnover
8%
of book per quarter
Strategy in plain words
auto-generated from filingsGUARDIAN CAPITAL LP is a diversified fundamental manager, running a $3.78B US long book across 160 positions.
The portfolio is moderately concentrated (top 10 ≈ 36% of the book). The book barely moves quarter to quarter — a patient, low-turnover holder. Current anchor positions: ROYAL BANK OF CANADA, CANADIAN NATURAL RESOURCES, AGNICO EAGLE MINES LTD, TORONTO-DOMINION BANK, SUNCOR ENERGY INC.
Over the last 9 quarters its long book ran on average 0.3pp per quarter behind the S&P 500, beating the index in 6 of 9 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-1.5%
Q2 2024
+9.8%
Q3 2024
-2.5%
Q4 2024
+0.1%
Q1 2025
+10.8%
Q2 2025
+9.2%
Q3 2025
+3.2%
Q4 2025
+2.2%
Q1 2026
+6.7%
Sector allocation
Financials 21%
Technology 17%
Energy 12%
Industrials 10%
Materials 9%
Consumer discretionary 8%
Services media 7%
Utilities 6%
Long book by quarter
What does GUARDIAN CAPITAL own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| RY ROYAL BANK OF CANADA | Financials | 1.7M | $275.1M | 7.3% | -3.4% |
| CNQ CANADIAN NATURAL RESOURCES | Energy | 3.5M | $167.9M | 4.4% | +4.3% |
| AEM AGNICO EAGLE MINES LTD | Materials | 818.8K | $165.7M | 4.4% | -20.1% |
| TD TORONTO-DOMINION BANK | Financials | 1.3M | $121.2M | 3.2% | -1.4% |
| SU SUNCOR ENERGY INC | Energy | 1.8M | $118.1M | 3.1% | -10.0% |
| BN BROOKFIELD CORP | Real estate | 2.8M | $111.2M | 2.9% | +4.2% |
| GIB CGI INC | Services media | 1.4M | $103.7M | 2.7% | +10.0% |
| OTEX OPEN TEXT CORP | Technology | 4.6M | $101.5M | 2.7% | +23.0% |
| CP CANADIAN PACIFIC KANSAS CITY | Industrials | 1.2M | $95.9M | 2.5% | -0.6% |
| BMO BANK OF MONTREAL | Financials | 680.7K | $91.9M | 2.4% | 0.0% |
| MDA MDA SPACE LTD | Industrials | 3.6M | $89.8M | 2.4% | New |
| AAPL APPLE INC | Technology | 334.7K | $84.9M | 2.2% | +17.9% |
| BGSI THE BOYD GROUP INC | Services media | 616.6K | $78.5M | 2.1% | +37.6% |
| CM CAN IMPERIAL BK OF COMMERCE | Financials | 823.1K | $77.8M | 2.1% | -12.5% |
| QSR RESTAURANT BRANDS INTERN | Consumer discretionary | 979.5K | $72.3M | 1.9% | +11.1% |
| AVGO BROADCOM INC | Technology | 224.9K | $69.6M | 1.8% | +22.6% |
| ENB ENBRIDGE INC | Energy | 1.2M | $67.0M | 1.8% | -7.5% |
| GIL GILDAN ACTIVEWEAR INC | Other | 1.2M | $66.6M | 1.8% | -1.8% |
| MSFT MICROSOFT CORP | Technology | 175.5K | $65.0M | 1.7% | +19.8% |
| COST COSTCO WHOLESALE CORP | Consumer discretionary | 64.9K | $64.6M | 1.7% | +15.8% |
| SHOP SHOPIFY INC - CLASS A | Technology | 523.8K | $62.0M | 1.6% | +1074.8% |
| WMB WILLIAMS COS INC | Utilities | 830.5K | $60.4M | 1.6% | +12.5% |
| GOOGL ALPHABET INC-CL A | Technology | 198.1K | $57.0M | 1.5% | +23.0% |
| ASML ASML HOLDING NV-NY REG SHS | Industrials | 38.1K | $50.4M | 1.3% | +3.7% |
| MFC MANULIFE FINANCIAL CORP | Financials | 1.5M | $50.3M | 1.3% | -3.4% |
| TTE TOTALENERGIES SE | Energy | 551.1K | $50.1M | 1.3% | +2.3% |
| WPM WHEATON PRECIOUS METALS CORP | Materials | 339.6K | $44.4M | 1.2% | +2.2% |
| CNI CANADIAN NATL RAILWAY CO | Industrials | 421.4K | $43.2M | 1.1% | +5.6% |
| TECK TECK RESOURCES LTD-CLS B | Materials | 831.6K | $42.9M | 1.1% | -7.7% |
| MCD MCDONALD'S CORP | Consumer discretionary | 135.9K | $42.2M | 1.1% | +9.9% |
| FTS FORTIS INC | Utilities | 744.9K | $41.4M | 1.1% | +1.0% |
| JNJ JOHNSON & JOHNSON | Healthcare | 158.4K | $38.7M | 1.0% | +10.8% |
| B BARRICK MINING CORP | Materials | 851.3K | $34.7M | 0.9% | -5.1% |
| BNS BANK OF NOVA SCOTIA | Financials | 493.1K | $34.1M | 0.9% | -0.7% |
| AZN ASTRAZENECA PLC | Healthcare | 170.3K | $33.6M | 0.9% | New |
| STN STANTEC INC | Services media | 366.4K | $31.6M | 0.8% | +24.3% |
| META META PLATFORMS INC-CLASS A | Technology | 53.0K | $30.3M | 0.8% | +34.6% |
| MA MASTERCARD INC - A | Services media | 59.4K | $29.7M | 0.8% | +2.7% |
| SLF SUN LIFE FINANCIAL INC | Financials | 470.2K | $29.4M | 0.8% | +0.5% |
| TJX TJX COMPANIES INC | Consumer discretionary | 182.4K | $29.1M | 0.8% | +23.4% |
| RSG REPUBLIC SERVICES INC | Utilities | 132.0K | $28.9M | 0.8% | +12.1% |
| RCI ROGERS COMMUNICATIONS INC-B | Communications | 737.8K | $28.3M | 0.7% | +17.6% |
| HIG HARTFORD INSURANCE GROUP INC | Financials | 188.8K | $25.5M | 0.7% | +20.2% |
| WM WASTE MANAGEMENT INC | Utilities | 105.4K | $24.2M | 0.6% | +15.3% |
| NTR NUTRIEN LTD | Other | 297.9K | $22.4M | 0.6% | -43.4% |
| ABBV ABBVIE INC | Healthcare | 98.6K | $21.4M | 0.6% | +23.7% |
| PH PARKER HANNIFIN CORP | Industrials | 22.7K | $20.3M | 0.5% | +44.8% |
| PBA PEMBINA PIPELINE CORP | Energy | 445.9K | $19.9M | 0.5% | -0.1% |
| NVDA NVIDIA CORP | Technology | 112.4K | $19.6M | 0.5% | +139.1% |
| HD HOME DEPOT INC | Consumer discretionary | 58.4K | $19.2M | 0.5% | +21.5% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 240 | $3.78B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 18, 2026 | 241 | $3.37B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 12, 2025 | 170 | $3.10B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 7, 2025 | 157 | $2.83B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 14, 2025 | 150 | $2.54B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 143 | $2.69B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 12, 2024 | 128 | $2.73B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 13, 2024 | 129 | $2.65B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 14, 2024 | 148 | $2.87B | canonical | SEC ↗ |
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