CARDINAL CAPITAL MANAGEMENT INC
Q2 2025 Form 13-F
WINNIPEG, MANITOBA, CANADA
CIK 0001518235
· CRD 124729
· SEC-registered investment adviser
$3.2B Reported Value Total
CARDINAL CAPITAL MANAGEMENT, INC. reports 9,504 total accounts under management (AUM). There are 9,351 discretionary accounts valued at $3,548,419,880, and 153 non-discretionary accounts valued at $44,787,330.
Source: Form ADV filed * Note that certain holdings are exempt from Form 13-F reporting, so the AUM totals may be greater than the Form 13-F total.
Source: Form ADV filed 2026-01-06
Reported value
$3.2B
Quarter over quarter
+10.5%
Holdings
68
Top-10 concentration
41.5%
Key People
Form ADV owners & control persons
Emily Anne Burt
CHAIRMAN/SHAREHOLDER
Timothy E. Burt
SHAREHOLDER
Brian Robert Coughlin
DIRECTOR/SHAREHOLDER
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Q2 2025 13F record
Q2 2025 13F filing summary
| Period of report | June 30, 2025 |
|---|---|
| Filed | July 11, 2025 |
| Form | 13F-HR |
| Reported value | $3.2B |
| Positions | 68 |
| Change in reported value | +8.5% |
| New positions | 2 |
| Exited positions | 4 |
| Position turnover | 8.3% |
| Top-10 concentration | 41.5% |
13F filings by quarter
| Quarter | Positions | Value |
|---|---|---|
|
Q3 2026 13F
Filed Oct 16, 2026
|
72 | $4.4B |
|
Q2 2026 13F
Filed Jul 10, 2026
|
70 | $4.1B |
|
Q1 2026 13F
Filed Apr 7, 2026
|
66 | $3.7B |
|
Q4 2025 13F
Filed Jan 22, 2026
|
70 | $4.5B |
|
Q3 2025 13F
Filed Oct 3, 2025
|
77 | $3.5B |
|
Q2 2025 13F
Filed Jul 11, 2025
|
68 | $3.2B |
|
Q1 2025 13F
Filed Apr 14, 2025
|
70 | $2.9B |
|
Q4 2024 13F
Filed Jan 17, 2025
|
69 | $2.9B |
|
Q3 2024 13F
Filed Oct 10, 2024
|
58 | $2.4B |
|
Q2 2024 13F
Filed Jul 9, 2024
|
66 | $2.6B |
|
Q1 2024 13F
Filed Apr 9, 2024
|
53 | $2.3B |
|
Q4 2023 13F
Filed Feb 23, 2024
|
52 | $2.1B |
|
Q3 2023 13F
Filed Oct 12, 2023
|
55 | $1.9B |
|
Q2 2023 13F
Filed Jul 10, 2023
|
55 | $2.0B |
|
Q1 2023 13F
Filed Apr 6, 2023
|
54 | $1.8B |
|
Q4 2022 13F
Filed Feb 3, 2023
|
54 | $1.8B |
|
Q3 2022 13F
Filed Oct 7, 2022
|
54 | $1.6B |
|
Q2 2022 13F
Filed Jul 13, 2022
|
75 | $1.8B |
|
Q1 2022 13F
Filed Apr 12, 2022
|
85 | $2.1B |
|
Q4 2021 13F
Filed Jan 19, 2022
|
81 | $2.1B |
31 earlier quarters on file — choose one from the quarter menu above.
Top 20 holdings · Q2 2025
| # | Holding | Reported value | % of portfolio |
|---|---|---|---|
| 1 | MFC Manulife Financial Corp. | $153.2M | 4.79% |
| 2 | CDNAF Canadian Tire Corp. Ltd. - Class | $151.7M | 4.75% |
| 3 | BN Brookfield Corp. | $136.7M | 4.28% |
| 4 | SU Suncor Energy Inc. | $135.6M | 4.25% |
| 5 | GIL Gildan Activewear Inc. | $134.4M | 4.21% |
| 6 | CM Canadian Imperial Bank of Commerce | $131.0M | 4.1% |
| 7 | BMO Bank of Montreal | $122.6M | 3.84% |
| 8 | TRP TC Energy Corp. | $121.0M | 3.79% |
| 9 | RY Royal Bank of Canada | $120.7M | 3.78% |
| 10 | ENB Enbridge Inc. | $118.1M | 3.7% |
| 11 | BNS Bank of Nova Scotia | $114.9M | 3.6% |
| 12 | SAPIF Saputo Inc. | $114.0M | 3.57% |
| 13 | PBA Pembina Pipeline Corp. | $110.2M | 3.45% |
| 14 | CP Canadian Pacific Kansas City Ltd. | $106.3M | 3.33% |
| 15 | 45823T106 Intact Financial Corp | $99.9M | 3.13% |
| 16 | 286181201 Element Fleet Management Corp. | $92.8M | 2.9% |
| 17 | CCDBF CCL Industries Inc. | $89.9M | 2.81% |
| 18 | NTIOF National Bank of Canada | $82.8M | 2.59% |
| 19 | CNI Canadian National Railway Co. | $76.2M | 2.38% |
| 20 | SLF Sun Life Financial Inc. | $75.7M | 2.37% |
Values as reported on the Q2 2025 Form 13F. Every position is in the holdings table below.