Connor, Clark & Lunn Investment Management Ltd.
Institutional investor · Portfolio as of Q4 2025
Top Holdings1,508 positions
Stock | Shares | Value | Weight | Avg Buy | Est. P&L | Held | Conviction |
|---|---|---|---|---|---|---|---|
ROYAL BANK OF CANADA | 11.5M | $2B | 5.2% | $75.78 | +122.11% | 29 qtrssince 2018-Q4 | Increased 64 |
AGNICO EAGLE MINES LTD | 6.5M | $1.1B | 2.9% | $66.35 | +158.98% | 29 qtrssince 2018-Q4 | Increased 56 |
SHOPIFY INC - CLASS A | 6.2M | $998.7M | 2.6% | $59.15 | +176.81% | 29 qtrssince 2018-Q4 | Decreased 0 |
TORONTO-DOMINION BANK | 9.1M | $859.6M | 2.3% | $45.55 | +107.92% | 29 qtrssince 2018-Q4 | Decreased 0 |
CAN IMPERIAL BK OF COMMERCE | 9.2M | $836.9M | 2.2% | $48.88 | +87.14% | 29 qtrssince 2018-Q4 | Decreased 0 |
NVIDIA CORP | 4.4M | $826M | 2.2% | $137.22 | +36.67% | 29 qtrssince 2018-Q4 | Increased 59 |
BANK OF NOVA SCOTIA | 10.2M | $751.4M | 2.0% | $55.52 | +33.24% | 29 qtrssince 2018-Q4 | Increased 64 |
APPLE INC | 2.3M | $619.4M | 1.6% | $202.83 | +33.67% | 29 qtrssince 2018-Q4 | Increased 62 |
INVESCO EXCH TRADED FD TR II | 9M | $616.8M | 1.6% | $59.93 | +15.12% | 5 qtrssince 2024-Q4 | Unchanged 0 |
MICROSOFT CORP | 1.2M | $556.9M | 1.5% | $353.22 | +38.01% | 29 qtrssince 2018-Q4 | Decreased 0 |
TC ENERGY CORP | 9.7M | $531.6M | 1.4% | $45.11 | +24.42% | 27 qtrssince 2019-Q2 | Increased 58 |
CELESTICA INC | 1.6M | $481.3M | 1.3% | $42.54 | +594.88% | 29 qtrssince 2018-Q4 | Increased 50 |
ENBRIDGE INC | 9.9M | $472.3M | 1.2% | $35.50 | +35.37% | 29 qtrssince 2018-Q4 | Increased 64 |
AMAZON.COM INC | 2M | $464.5M | 1.2% | $207.41 | +12.11% | 29 qtrssince 2018-Q4 | Increased 56 |
BARRICK GOLD CORP | 10.1M | $438.2M | 1.1% | $32.68 | +35.39% | 3 qtrssince 2025-Q2 | Increased 55 |
SUNCOR ENERGY INC | 9.8M | $434.8M | 1.1% | $30.94 | +43.84% | 29 qtrssince 2018-Q4 | Decreased 0 |
ALPHABET INC-CL C | 1.4M | $429.9M | 1.1% | $169.56 | +85.50% | 29 qtrssince 2018-Q4 | Increased 50 |
CAMECO CORP | 4.3M | $394.8M | 1.0% | $53.13 | +72.19% | 29 qtrssince 2018-Q4 | Increased 49 |
CANADIAN PACIFIC RAILWAY LTD /CAD/ | 5.3M | $387.3M | 1.0% | $78.90 | -7.07% | 11 qtrssince 2023-Q2 | Increased 58 |
KINROSS GOLD CORP | 12.3M | $345.7M | 0.9% | $9.49 | +201.34% | 29 qtrssince 2018-Q4 | Decreased 0 |
Connor, Clark & Lunn Investment Management Ltd. manages $38.1B across 1508 positions as of Q4 2025. Top holdings: RY (5.2%), AEM (2.9%), SHOP (2.6%). Fund DNA: Balanced Allocator. HoldingsIntel Rating: 2/5.0.
Active quarter - 350 new positions, 317 exits, 600 increased. Top move: RY (INCREASED, conviction 64). Portfolio: $38.1B across 1508 positions.
Top holdings by portfolio weight
Portfolio allocation by GICS sector
Behavioral investing profile
Position Outcomes
Best and worst performing positions by estimated return
Top Winners
Top Losers
Cost basis estimates based on full filing history using quarter-end prices. Actual transaction prices are not disclosed in 13F filings.
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Data sourced from SEC EDGAR 13F filings. Not financial advice. Full disclaimer