Portfolio (Quarterly) Guide ↗

LINCLUDEN MANAGEMENT LTD

· CIK 0001058231

13F Portfolio $939M AUM 70 positions Filed May 13, 2026 EDGAR ↗ ← All Funds

Q1 2026 Q4 2025 · All 2 New 32 Added 35 Reduced 3 Exited

Page 2 of 2 · 32 positions

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#	Ticker	Company	Sector	Shares	Value ↓	% Port	Chg Shares	Chg %	Period Price ①	Since Period ①
21	COST	COSTCO WHOLESALE	Consumer Defensive	5,297.0	$5.3M	0.56%	+239.0	+4.7%	$996.41	+0.7%
22	SAP	SAP SE	Technology	29,833.0	$5.1M	0.54%	+2K	+8.8%	$171.19	+1.7%
23	C	CITIGROUP INC.	Financial Services	42,269.0	$4.8M	0.51%	+3K	+7.8%	$113.39	+10.6%
24	MS	MORGAN STANLEY	Financial Services	28,279.0	$4.7M	0.50%	+2K	+7.0%	$164.54	+22.5%
25	HD	HOME DEPOT	Consumer Cyclical	13,223.0	$4.3M	0.46%	+679.0	+5.4%	$328.82	-3.3%
26	TRNO	TERRENO REALTY CORP.	Real Estate	63,499.0	$3.9M	0.41%	+1K	+2.2%	$61.42	+8.7%
27	EQIX	EQUINIX INC.	Real Estate	3,971.0	$3.9M	0.41%	+171.0	+4.5%	$980.11	+9.2%
28	—	SANOFI SA	—	78,482.0	$3.8M	0.40%	+5K	+7.0%	$48.18	—
29	TJX	TJX COMPANIES INC.	Consumer Cyclical	21,540.0	$3.4M	0.37%	+1K	+6.5%	$159.66	-1.7%
30	GNTX	GENTEX CORP.	Consumer Cyclical	139,828.0	$3.1M	0.33%	+7K	+5.5%	$21.85	+10.5%
31	TTE	TOTAL ENERGIES SE	Energy	29,465.0	$2.7M	0.28%	+2K	+7.5%	$90.96	-4.7%
32	TSCO	TRACTOR SUPPLY CO	Consumer Cyclical	56,244.0	$2.5M	0.27%	+4K	+8.2%	$45.28	-32.3%

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① Period Price is the implied market price on the last day of the reporting period, calculated as reported value ÷ shares held. It is not the fund's purchase price or cost basis — the fund may have initiated or added to the position at any point during the quarter at a different price. Since Period shows the price change from that quarter-end snapshot to today's last price — it reflects stock movement after the report date, not the fund's actual return.

Sector Allocation

Financial Services 32.0%

Energy 18.9%

Communication Services 10.8%

Consumer Cyclical 7.9%

Technology 5.9%

Real Estate 5.5%

Industrials 5.3%

Utilities 4.6%

Basic Materials 3.6%

Healthcare 3.3%