Q2 2026 13F · SEC CIK 1569411

Addenda Capital Inc.

Institutional asset managerFiled 2026-07-14 for Q2 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value: $3.7B
Reported positions: 128
Top holdings a year, 3 yrs: +22.9%
Assets under management: $29.0B

Addenda Capital Inc. is an institutional asset manager that reported 128 positions worth $3.7B in its Q2 2026 13F, filed 2026-07-14. Its largest holdings were Toronto Dominion Bank (TD, 6.1%), Royal Bank of Canada (RY, 6.0%), Bank of Montreal (BMO, 4.3%). A portfolio copying its top holdings returned 22.9% a year over the last 3 years, against 20.4% for the S&P 500.

Addenda Capital Inc. holdings largest 50 of 128 positions.

Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.

Addenda Capital Inc. 13F holdings
Stock	% of 13F value	Q1 2026	Shares	Share change	Reported value
TDToronto Dominion Bank	6.1%	4.8%	1,294,228	-0.5%	$223.2M
RYRoyal Bank of Canada	6.0%	4.7%	750,840	+0.7%	$220.5M
BMOBank of Montreal	4.3%	3.6%	625,064	-7.3%	$156.7M
BNSBank Nova Scotia B C	3.6%	2.9%	1,081,272	+0.7%	$133.3M
BNBrookfield Corp	3.6%	3.4%	2,179,602	+0.5%	$131.9M
SHOPShopify Inc	3.5%	3.3%	798,719	+11.4%	$129.6M
ENBEnbridge Inc Com	3.3%	3.0%	1,559,468	+10.8%	$119.9M
CCJCameco Corp Com	2.8%	2.3%	721,749	+31.0%	$104.3M
CNQCanadian Nat Res Ltd Med Term Com	2.8%	3.5%	1,823,954	+0.6%	$103.5M
CPCanadian Pacific Kansas City	2.8%	2.2%	832,895	+19.0%	$102.6M
CNICanadian Natl Ry Co	2.5%	1.9%	548,874	+19.3%	$92.9M
AEMAgnico Eagle Mines Ltd	2.4%	5.0%	392,344	-37.6%	$86.5M
TRPTc Energy Corp	2.2%	2.3%	848,757	-6.6%	$80.5M
AAPLApple Inc	1.7%	1.6%	220,303	-3.2%	$63.7M
AVGOBroadcom Inc	1.7%	1.5%	166,431	-0.5%	$62.9M
HBMHudbay Minerals	1.7%	0.5%	1,872,488	+203.4%	$62.7M
GOOGAlphabet Inc	1.7%	1.5%	173,791	-5.8%	$61.4M
WPMWheaton Precious Metals	1.6%	3.2%	376,957	-38.9%	$60.1M
SUSuncor Energy Inc New	1.6%	1.9%	784,418	+5.0%	$59.9M
KGCKinross Gold Corp	1.5%	1.6%	1,654,910	+21.0%	$55.6M
MFCManulife Finl Corp	1.5%	1.0%	953,431	+24.7%	$54.8M
NVDANvidia Corporation Com	1.4%	1.3%	263,605	-0.7%	$52.7M
CMCanadian Imperial Bank of Co	1.3%	1.2%	295,989	-6.1%	$48.7M
MSFTMicrosoft Corp	1.3%	1.4%	129,812	-0.6%	$48.4M
WCNWaste Connections Inc	1.2%	1.4%	188,040	-14.0%	$44.5M
AMZNAmazon Com Inc Com	1.2%	1.0%	179,982	+9.3%	$42.9M
FNVFranco Nev Corp	1.2%	2.2%	143,948	-35.1%	$42.6M
BIPBrookfield Infrastructure Pa	1.1%	1.1%	777,392	+0.7%	$40.3M
PBAPembina Pipeline Corp	1.1%	1.1%	606,697	+0.2%	$39.8M
CLSCelestica Inc	1.0%	—	68,522	—	$35.4M
APHAmphenol Corp	0.9%	0.7%	191,875	-1.0%	$33.9M
VVisa Inc Com Cl A	0.9%	0.8%	97,680	-0.8%	$33.5M
AGIAlamos Gold Inc	0.9%	3.5%	765,971	-61.5%	$32.9M
QSRRestaurant Brands Intl Inc Com	0.9%	0.9%	312,203	+0.6%	$32.4M
EMAEmera Inc	0.9%	0.9%	421,793	+0.1%	$31.7M
FFIVF5 Inc	0.8%	0.6%	72,404	-0.8%	$30.1M
JPMJpmorgan Chase & Co	0.8%	0.7%	87,189	-1.5%	$28.5M
WABWabtec Corp	0.7%	0.7%	97,698	-1.8%	$26.3M
TJXTjx Cos Inc New Com	0.7%	0.7%	160,457	+0.1%	$24.3M
TFIITfi International Inc	0.7%	0.6%	118,534	-12.4%	$24.3M
CIGIColliers International Group Inc.	0.6%	0.7%	167,188	+0.5%	$22.3M
BKNGBooking Holdings Inc Com	0.6%	0.6%	123,540	+2560.2%	$22.0M
CATCaterpillar Inc Com	0.5%	—	18,800	—	$20.0M
LINLinde PLC	0.5%	0.5%	37,868	-1.0%	$19.7M
TMOThermo Fisher Scientific Inc	0.5%	0.5%	39,047	-1.0%	$19.6M
URIUnited Rentals Inc Com	0.5%	—	16,848	—	$19.1M
SCHWSchwab Charles Corp	0.5%	0.5%	202,662	-1.0%	$18.7M
PANWPalo Alto Networks Inc	0.5%	—	53,708	—	$18.3M
BAMBrookfield Asset Management	0.5%	—	259,947	—	$16.5M
STESteris Corp	0.4%	—	78,093	—	$16.4M

What Addenda Capital Inc. bought and sold in Q2 2026, against Q1 2026.

New positions

Q1 2026's filing was too long to tell new positions apart.

Added to

BKNG Booking Holdings Inc Com+2560.2% shares
HBM Hudbay Minerals+203.4% shares
CCJ Cameco Corp Com+31.0% shares
MFC Manulife Finl Corp+24.7% shares
KGC Kinross Gold Corp+21.0% shares
CNI Canadian Natl Ry Co+19.3% shares
CP Canadian Pacific Kansas City+19.0% shares
SHOP Shopify Inc+11.4% shares

Reduced

AGI Alamos Gold Inc-61.5% shares
WPM Wheaton Precious Metals-38.9% shares
AEM Agnico Eagle Mines Ltd-37.6% shares
FNV Franco Nev Corp-35.1% shares
WCN Waste Connections Inc-14.0% shares
TFII Tfi International Inc-12.4% shares
BMO Bank of Montreal-7.3% shares
TRP Tc Energy Corp-6.6% shares

Left the top 50

Share counts compared with the Q1 2026 13F; a split also changes share counts. The latest filing lists more than 50 positions, so a position that left the top 50 may still be held.

How the holdings did against the S&P 500.

1 year: +32.6% /yr; S&P 500 +20.1%
3 years: +22.9% /yr; S&P 500 +20.4%
5 years: +9.2% /yr; S&P 500 +11.6%

A portfolio of the filer's 20 largest 13F positions, weighted by value and rebuilt each quarter on the day the filing became public. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Reported 13F value by quarter.

13F value by quarter
Quarter	13F value	Positions
Q2 2026	$3.7B	128
Q1 2026	$3.6B	129
Q4 2025	$3.4B	125
Q3 2025	$3.4B	126
Q2 2025	$2.8B	120
Q1 2025	$2.7B	123
Q4 2024	$2.8B	123
Q3 2024	$2.8B	125
Q2 2024	$2.6B	128
Q1 2024	$2.6B	131
Q4 2023	$2.6B	130
Q3 2023	$2.3B	131

Questions about Addenda Capital Inc.'s portfolio

What stocks does Addenda Capital Inc. own?

Addenda Capital Inc.'s latest 13F, for Q2 2026 and filed Jul 14, 2026, lists 128 positions worth $3.7B. The largest are Toronto Dominion Bank (TD) at 6.1%, Royal Bank of Canada (RY) at 6.0%, Bank of Montreal (BMO) at 4.3%, Bank Nova Scotia B C (BNS) at 3.6% and Brookfield Corp (BN) at 3.6%.

What did Addenda Capital Inc. buy last quarter?

In Q2 2026, Addenda Capital Inc. added Booking Holdings Inc Com (BKNG) (+2560.2% shares), Hudbay Minerals (HBM) (+203.4% shares) and Cameco Corp Com (CCJ) (+31.0% shares), compared with its Q1 2026 filing.

What did Addenda Capital Inc. sell last quarter?

In Q2 2026, Addenda Capital Inc. cut from its top 50 Cenovus Energy Inc (CVE), cut from its top 50 Resmed Inc (RMD), cut from its top 50 Costco Whsl Corp New (COST), cut from its top 50 Lowes Cos Inc (LOW), cut from its top 50 Bce Inc (BCE), Alamos Gold Inc (AGI) (-61.5% shares), Wheaton Precious Metals (WPM) (-38.9% shares) and Agnico Eagle Mines Ltd (AEM) (-37.6% shares), compared with its Q1 2026 filing.

How has Addenda Capital Inc.'s portfolio performed?

A portfolio copying Addenda Capital Inc.'s 20 largest 13F holdings each quarter, from the day each filing was public, returned +22.9% a year over the last 3 years, against +20.4% for the S&P 500. Over 1 year: +32.6% against +20.1%. Over 5 years: +9.2% a year against +11.6%.

When is Addenda Capital Inc.'s next 13F filing due?

13F filings are due 45 days after each quarter ends. Addenda Capital Inc.'s filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.

How much money does Addenda Capital Inc. manage?

Addenda Capital Inc. reported $29.0B of regulatory assets under management on its latest SEC Form ADV. Its 13F, which covers only US-listed stocks and options, totals $3.7B.