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Cardinal Capital Management — 13F Holdings & Portfolio

CIK 1434845 · latest 13F-HR filed 2026-07-21

Backtest portfolio

Cardinal Capital Management manages $826.3M in 13F-reported U.S. long-equity assets across 138 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are LLY (3.85%), JNJ (3.53%), AAPL (3.03%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 7 new positions and exited 5; 76 existing positions rose in reported value and 33 fell.

AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.

Loading holdings…
AUM
$826.3M

Long-equity book

Holdings
138

Distinct positions

Period
2026-06-30

Filed 2026-07-21

Q/Q Activity
+7 / −5 / ↑76 / ↓33

vs 2026-03-31

Portfolio charts

Latest quarter's book, what changed, and how the portfolio has evolved across filings.

Portfolio map

Q2 26
LLY3.8% · -1%JNJ3.5% · -1%AAPL3.0% · -1%GOOGL2.7% · -1%BK2.4% · newCOST2.3% · -1%JPM2.3% · -1%MSFT2.3% · +1%CSCO2.2% · -1%DE2.1% · -1%WMT2.1% · -1%XOM1.9% · -0%CMI1.8% · -1%QCOM1.6% · -0%EMR1.5% · -0%IBM1.5% · -0%MRK1.5% · -0%ECL1.5% · -0%ITW1.4% · -0%KEYS1.4% · -16%LH1.3% · -0%LOW1.3% · -0%TFC1.3% · -0%ADP1.2% · +1%A1.2% · -0%COP1.2% · +0%SBUX1.2% · -0%STT1.1% · -1%ODC1.1% · -1%AGX1.1% · -37%MMM1.1% · -1%PG1.1% · +1%TROW1.0% · +0%HAS1.0% · -0%RY1.0% · -0%FFIV1.0% · +0%NFG0.9% · -1%NVS0.9% · -0%CW0.9% · -0%IDXX0.9% · +0%KO0.8% · -1%MDT0.8% · +2%UTHR0.8% · -1%SYNA0.7% · +0%BMY0.7% · +0%MKC0.7% · +7%FDX0.7% · +0%TD0.7% · -0%BNS0.7% · +1%REGN0.6% · -0%LSTR0.6% · -1%BDX0.6% · +1%TDY0.6% · -1%PLPC0.6% · +0%GOOG0.6% · -1%PSX0.6% · -0%USLM0.6% · +0%PEP0.6% · +1%BCPC0.5% · -0%SNA0.5% · -1%

Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.

Sector mix

% of 13F value

Sectors from each company's SIC code; funds and ETFs grouped separately.

Biggest buys and sells

Q1 26 → Q2 26

Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.

13F assets and positions

3 quarters

Total reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.

Top positions over time

reported value

The eight largest current positions, valued at each quarter end.

Concentration

top 10 = 26.8%

Cumulative share of the portfolio held in the largest N positions.

Firm Profile & Key People

As of the firm’s regulatory filing dated Jan 6, 2026.

Assets Under Management
$4.02B
Discretionary
$3.99B
Employees
81
Accounts
10,416
Address
1780 WELLINGTON AVENUE
SUITE 400
WINNIPEG R3H-1B3
Canada
Phone
(800) 310-4664
Website
Name Title / Status Ownership Type
BURT, EMILY, ANNE ControlCHAIRMAN/SHAREHOLDER
since Sep 2019
10–25%Individual
BURT, TIMOTHY, E. ControlSHAREHOLDER
since Oct 2016
10–25%Individual
CHRISTIE, DAVID, BRUCE ControlDIRECTOR
since Dec 2019
Less than 5%Individual
COUGHLIN, BRIAN, ROBERT ControlDIRECTOR/SHAREHOLDER
since Dec 2016
10–25%Individual
ENGEL, DONALD, CRAIG ControlDIRECTOR
since May 2000
Less than 5%Individual
FRASER, DANNY ControlCHIEF FINANCIAL OFFICER
since Sep 2017
Less than 5%Individual
Malech, Ronald, Timothy ControlDIRECTOR
since Jul 2021
Less than 5%Individual
Mancer, Evan ControlPRESIDENT/CIO/SHAREHOLDER
since Oct 2016
10–25%Individual
Osborn, DeWayne ControlCHIEF COMPLIANCE OFFICER
since Mar 2017
Less than 5%Individual
WILSON-KOWAL, SHEILA, MARIE ControlDIRECTOR/SHAREHOLDER
since Dec 2019
Less than 5%Individual
PURDY, BRETT, ANN MIRANDASHAREHOLDER
since Dec 2019
5–10%Individual
Ownership & leadership changes · 9 filings with changes since Dec 16, 2011

From the firm’s regulatory filings, newest first. Dates are filing dates: a filing that no longer lists someone does not say when they left.

Dec 8, 2021 filing
  • No longer listedEULLSCHULTZ, DONNA · DIRECTOR · Less than 5% · control person · listed since Dec 2019
  • AddedMalech, Ronald, Timothy · DIRECTOR · Less than 5% · control person
  • ChangedBURT, TIMOTHY, E. · title SENIOR VICE PRESIDENT/SHAREHOLDER → SHAREHOLDER
Dec 24, 2019 filing
  • No longer listedICPM HOLDINGS, INC. · SHAREHOLDER · 25–50% · control person · listed since May 2001
  • No longer listedKAYCO, INC. · SHAREHOLDER · 50–75% · indirect via ICPM HOLDINGS, INC. · listed since May 2001
  • No longer listedLAWTON, JAMES · DIRECTOR · Less than 5% · listed since May 2001
  • No longer listedLAWTON, KATHLEEN · PRESIDENT · 75% or more · indirect via KAYCO, INC. · listed since May 2001
  • No longer listedTOWNSEND, WAYNE · DIRECTOR · Less than 5% · listed since May 2001
  • No longer listedWITTMIER, ELDEN · DIRECTOR · Less than 5% · listed since May 2001
  • AddedCHRISTIE, DAVID, BRUCE · DIRECTOR · Less than 5% · control person
  • AddedEULLSCHULTZ, DONNA · DIRECTOR · Less than 5% · control person
  • AddedPURDY, BRETT, ANN MIRANDA · SHAREHOLDER · 5–10%
  • AddedWILSON-KOWAL, SHEILA, MARIE · DIRECTOR/SHAREHOLDER · Less than 5% · control person
  • ChangedBURT, EMILY, ANNE · title DIRECTOR/SHAREHOLDER → CHAIRMAN/SHAREHOLDER; ownership Less than 5% → 10–25%; now a control person
  • ChangedBURT, TIMOTHY, E. · title SENIOR VICE PRESIDENT - BUSINESS DEVELOPMENT → SENIOR VICE PRESIDENT/SHAREHOLDER; ownership 25–50% → 10–25%
  • ChangedCOUGHLIN, BRIAN, ROBERT · title DIRECTOR → DIRECTOR/SHAREHOLDER; ownership Less than 5% → 10–25%; now a control person
  • ChangedENGEL, DONALD, CRAIG · now a control person
  • ChangedMancer, Evan · title PRESIDENT/CIO → PRESIDENT/CIO/SHAREHOLDER; ownership Less than 5% → 10–25%
Dec 21, 2018 filing
  • No longer listedSHAW, BRIAN, D · DIRECTOR/SHAREHOLDER · 10–25% · listed since Oct 1993
  • AddedCOUGHLIN, BRIAN, ROBERT · DIRECTOR · Less than 5%
  • AddedFRASER, DANNY · CHIEF FINANCIAL OFFICER · Less than 5% · control person
Apr 7, 2017 filing
  • AddedOsborn, DeWayne · CHIEF COMPLIANCE OFFICER · Less than 5% · control person
  • ChangedBURT, TIMOTHY, E. · title SENIOR VICE PRESIDENT - BUSINESS DEVELOPMENT/CHIEF COMPLIANCE OFFICER → SENIOR VICE PRESIDENT - BUSINESS DEVELOPMENT
Jan 12, 2017 filing
  • No longer listedROBSON, GRAHAM · CHIEF COMPLIANCE OFFICER · Less than 5% · control person · listed since Feb 2012
  • ChangedBURT, TIMOTHY, E. · title SENIOR VICE PRESIDENT - BUSINESS DEVELOPMENT → SENIOR VICE PRESIDENT - BUSINESS DEVELOPMENT/CHIEF COMPLIANCE OFFICER
Oct 27, 2016 filing
  • AddedMancer, Evan · PRESIDENT/CIO · Less than 5% · control person
  • ChangedBURT, TIMOTHY, E. · title PRESIDENT → SENIOR VICE PRESIDENT - BUSINESS DEVELOPMENT
Dec 21, 2015 filing
  • No longer listedSTOLLER, DANIEL, RICHARD · CHIEF FINANCIAL OFFICER · Less than 5% · listed since May 2006
Dec 20, 2012 filing
  • ChangedBURT, EMILY, ANNE · ownership 5–10% → Less than 5%
Mar 8, 2012 filing
  • AddedROBSON, GRAHAM · CHIEF COMPLIANCE OFFICER · Less than 5% · control person
  • ChangedBURT, EMILY, ANNE · title DIRECTOR → DIRECTOR/SHAREHOLDER; ownership Less than 5% → 5–10%
  • ChangedBURT, TIMOTHY, E. · title PRESIDENT AND CHIEF COMPLIANCE OFFICER → PRESIDENT
  • ChangedSHAW, BRIAN, D · title DIRECTOR → DIRECTOR/SHAREHOLDER
Dec 16, 2011 filing (earliest on record)
  • ListedBURT, EMILY, ANNE · DIRECTOR · Less than 5%
  • ListedBURT, TIMOTHY, E. · PRESIDENT AND CHIEF COMPLIANCE OFFICER · 25–50% · control person
  • ListedENGEL, DONALD, CRAIG · DIRECTOR · Less than 5%
  • ListedICPM HOLDINGS, INC. · SHAREHOLDER · 25–50% · control person
  • ListedKAYCO, INC. · SHAREHOLDER · 50–75% · indirect via ICPM HOLDINGS, INC.
  • ListedLAWTON, JAMES · DIRECTOR · Less than 5%
  • ListedLAWTON, KATHLEEN · PRESIDENT · 75% or more · indirect via KAYCO, INC.
  • ListedSHAW, BRIAN, D · DIRECTOR · 10–25%
  • ListedSTOLLER, DANIEL, RICHARD · CHIEF FINANCIAL OFFICER · Less than 5%
  • ListedTOWNSEND, WAYNE · DIRECTOR · Less than 5%
  • ListedWITTMIER, ELDEN · DIRECTOR · Less than 5%

Quarter-over-quarter changes

Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.

Top Adds (vs prior quarter)

Show all 76 →

Top Trims

Show all 33 →

New Positions

Show all 7 →

Exited Positions

Show all 5 →

Cardinal Capital Management Holdings (2026-06-30)

Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).

# Issuer Symbol CUSIP Value Weight Shares Type
1 ELI LILLY & CO LLY 532457108 $31.8M 3.85% 26,505 SH
2 JOHNSON & JOHNSON JNJ 478160104 $29.2M 3.53% 114,813 SH
3 APPLE INC AAPL 037833100 $25.0M 3.03% 86,434 SH
4 ALPHABET INC GOOGL 02079K305 $22.7M 2.75% 63,551 SH
5 BANK OF NY MELLON CORP BNY 064058100 $19.6M 2.37% 135,400 SH
6 COSTCO WHOLESALE CORPORATION COST 22160K105 $19.3M 2.33% 20,616 SH
7 JPMORGAN CHASE & CO JPM 46625H100 $19.1M 2.31% 58,423 SH
8 MICROSOFT CORP MSFT 594918104 $18.7M 2.26% 50,127 SH
9 CISCO SYS INC CSCO 17275R102 $18.3M 2.22% 156,094 SH
10 DEERE & CO DE 244199105 $17.5M 2.12% 27,589 SH
11 WALMART INC WMT 931142103 $17.4M 2.11% 153,893 SH
12 EXXON MOBIL CORP XOM 30231G102 $15.7M 1.90% 115,027 SH
13 CUMMINS INC CMI 231021106 $14.9M 1.80% 20,873 SH
14 QUALCOMM INC QCOM 747525103 $12.9M 1.56% 69,614 SH
15 EMERSON ELEC CO EMR 291011104 $12.7M 1.53% 88,412 SH
16 INTERNATIONAL BUSINESS MACHS IBM 459200101 $12.6M 1.52% 44,694 SH
17 MERCK & CO INC MRK 58933Y105 $12.4M 1.51% 96,235 SH
18 ECOLAB INC ECL 278865100 $12.0M 1.45% 42,962 SH
19 ILLINOIS TOOL WKS INC ITW 452308109 $11.8M 1.43% 43,427 SH
20 KEYSIGHT TECHNOLOGIES INC KEYS 49338L103 $11.6M 1.40% 33,041 SH
21 LABCORP HOLDINGS INC LH 504922105 $10.8M 1.30% 38,484 SH
22 LOWES COS INC LOW 548661107 $10.6M 1.29% 48,228 SH
23 TRUIST FINL CORP TFC 89832Q109 $10.3M 1.25% 207,732 SH
24 AUTOMATIC DATA PROCESSING IN ADP 053015103 $10.1M 1.22% 44,656 SH
25 AGILENT TECHNOLOGIES INC A 00846U101 $10.0M 1.21% 75,200 SH
26 CONOCOPHILLIPS COP 20825C104 $9.6M 1.16% 92,012 SH
27 STARBUCKS CORP SBUX 855244109 $9.5M 1.15% 93,350 SH
28 STATE STR CORP STT 857477103 $9.3M 1.13% 54,929 SH
29 OIL DRI CORP AMER ODC 677864100 $8.9M 1.08% 87,391 SH
30 ARGAN INC AGX 04010E109 $8.8M 1.07% 11,042 SH
31 3M CO MMM 88579Y101 $8.8M 1.06% 54,320 SH
32 PROCTER & GAMBLE CO PG 742718109 $8.8M 1.06% 59,816 SH
33 PRICE T ROWE GROUP INC TROW 74144T108 $8.3M 1.01% 73,050 SH
34 HASBRO INC HAS 418056107 $8.2M 1.00% 99,780 SH
35 ROYAL BK CDA RY 780087102 $8.2M 0.99% 39,630 SH
36 F5 INC FFIV 315616102 $8.1M 0.98% 19,383 SH
37 NATIONAL FUEL GAS CO NFG 636180101 $7.8M 0.95% 100,653 SH
38 NOVARTIS AG NVS 66987V109 $7.8M 0.94% 49,670 SH
39 CURTISS WRIGHT CORP CW 231561101 $7.8M 0.94% 10,229 SH
40 IDEXX LABS INC IDXX 45168D104 $7.4M 0.90% 14,151 SH
41 COCA COLA CO KO 191216100 $6.8M 0.83% 83,625 SH
42 MEDTRONIC PLC MDT G5960L103 $6.7M 0.81% 85,040 SH
43 UNITED THERAPEUTICS CORP DEL UTHR 91307C102 $6.5M 0.78% 11,970 SH
44 SYNAPTICS INC SYNA 87157D109 $6.2M 0.75% 49,685 SH
45 BRISTOL-MYERS SQUIBB CO BMY 110122108 $6.1M 0.73% 105,075 SH
46 MCCORMICK & CO INC MKC 579780206 $5.8M 0.70% 114,444 SH
47 FEDEX CORP FDX 31428X106 $5.7M 0.69% 18,262 SH
48 TORONTO DOMINION BK ONT TD 891160509 $5.6M 0.68% 46,344 SH
49 BANK NOVA SCOTIA B C BNS 064149107 $5.4M 0.66% 62,606 SH
50 REGENERON PHARMACEUTICALS REGN 75886F107 $5.2M 0.63% 8,397 SH
Filing History
Period Filed AUM Holdings Accession
2026-06-30 2026-07-21 $826.3M 138 0001434845-26-000004
2026-03-31 2026-04-08 $775.6M 136 0001434845-26-000003
2025-12-31 2026-01-30 $755.0M 133 0001434845-26-000002
Filer Information
Address
2626 GLENWOOD AVENUE
SUITE 380
RALEIGH, NC 27608
Phone
(919) 532-7500
Filing Manager
Cardinal Capital Management
RALEIGH, NC
Signatory
J. Wesley Andrews
Vice President