Cardinal Capital Management, Inc.

RIA/Wealth

Cardinal Capital Management, Inc. is a RIA/Wealth led by Emily Anne Burt, reporting $3.6B in AUM as of Q3 2025 with 36% Financial Services concentration and 53% concentrated in top 10 holdings.

ChairmanEmily Anne Burt

Portfolio Value: $2.7B
Positions: 62
Top Holding: GIL at 5.77%
Last Reported: Q3 2025

Address1780 Wellington Avenue, Suite 400, Winnipeg, R3H-1B3, Canada

Top Holdings

Largest long holdings in Cardinal Capital Management, Inc.'s portfolio (53% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 Gildan Activewear GIL	Apparel - Manufacturers Consumer Cyclical	$156.5M	5.77%	-$1.2M Sold	1.82% 2.7M shares	Q2 2022 Held for 3y 5m
2 Suncor Energy SU	Oil & Gas Integrated Energy	$152.5M	5.63%	+$782.5K Bought	0.30% 3.6M shares	Q1 2014 Held for 11y 8m
3 Manulife Financial MFC	Insurance - Life Financial Services	$149.4M	5.51%	+$2.3K Bought	0.28% 4.8M shares	Q3 2015 Held for 10y 2m
4 Brookfield BN	Asset Management Financial Services	$148.6M	5.48%	-$3.1M Sold	0.14% 2.2M shares	Q2 2023 Held for 2y 5m
5 Canadian Imperial Bank of Commerce CM	Banks - Diversified Financial Services	$146.4M	5.40%	-$1.2M Sold	0.20% 1.8M shares	Q1 2014 Held for 11y 8m
6 Bank of Montreal BMO	Banks - Diversified Financial Services	$144.5M	5.33%	+$146.7K Bought	0.15% 1.1M shares	Q2 2014 Held for 11y 5m
7 TC Energy TRP	Oil & Gas Midstream Energy	$135.8M	5.01%	+$950.2K Bought	0.24% 2.5M shares	Q2 2019 Held for 6y 5m
8 Royal Bank of Canada RY	Banks - Diversified Financial Services	$135.3M	4.99%	+$132.6K Bought	0.07% 917.1K shares	Q1 2014 Held for 11y 8m
9 Bank of Nova Scotia BNS	Banks - Diversified Financial Services	$134.9M	4.98%	+$432.5K Bought	0.17% 2.1M shares	Q2 2014 Held for 11y 5m
10 Enbridge ENB	Oil & Gas Midstream Energy	$132.3M	4.88%	+$728.4K Bought	0.12% 2.6M shares	Q3 2015 Held for 10y 2m

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in Cardinal Capital Management, Inc.'s latest filing

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Market Value

$2.7B

Prior: $2.4B

Q/Q Change

+10.69%

+$261.7M

Net Flows % of MV

+1.58%

Turnover Ratio

3.18%

New Purchases

4 stocks

$52.7M

Added To

41 stocks

+$60.8M

Sold Out Of

0 stocks

Reduced Holdings

12 stocks

-$70.7M

Increased Positions

Position	Shares Δ	Change
1 Taiwan Semiconductor Manufacturing Company TSM	New	0 → 70.4K +$19.6M
2 Entergy ETR	New	0 → 128.8K +$12.0M
3 EMA Emagin EMA	New	0 → 218.8K +$10.5M
4 EMA Emera Incorporated EMA	New	0 → 218.8K +$10.5M
5 Carrier Global CARR	+9,447.9%	3.9K → 368.5K +$21.8M

Decreased Positions

Position	Shares Δ	Change
1 PepsiCo PEP	-97.02%	106.9K → 3.2K −$14.6M
2 Stanley Black & Decker SWK	-96.66%	297.5K → 9.9K −$21.4M
3 Comcast CMCSA	-81.02%	42.5K → 8.1K −$1.1M
4 SONY Sony Group Corporation SONY	-60.08%	1.5M → 613.4K −$26.6M
5 Nutrien Ltd. NTR	-2.27%	592.2K → 578.8K −$791.0K