Home / Leaderboard / Lincluden Investment Management, LTD
Lincluden Investment Management, LTD
Philip R. Evans · Asset Manager · Value
Lincluden Investment Management Ltd. is a Canadian boutique investment firm founded in 1982 and headquartered in Mississauga, Ontario. Now a subsidiary of Morguard Investment Limited, the firm manages over $4 billion in assets for a diverse clientele, including institutional pension plans, First Nation Trusts, foundations, and private individuals. Lincluden is known for its disciplined adherence to a value-based investment approach, focusing on long-term capital preservation and growth through a range of equity, fixed income, and balanced portfolios. Throughout its history, the firm has evolved from an employee-owned boutique into a strategic partnership with Morguard while maintaining a core focus on independent, fundamental research and a rigorous price discipline in its security selection process.
Simulated Performance
| Metric | Value |
|---|---|
| Total return | +19.4% |
| YTD return | +14.4% |
| Sharpe ratio | 3.87 |
| Win rate | 62% |
| AUM | $0.2B |
| Inception | Oct 1, 2025 |
| Updated | Sep 3, 2026 |
Institution Status
| Field | Value |
|---|---|
| AUM | $0.2B |
| Turnover | Low (<15%) |
| Avg holding | 18 Months |
| Inception | Oct 1, 2025 |
| Website | http://www.lincluden.com |
Current Holdings
Updated on Sep 3, 2026.
| Ticker | Name | Portfolio % | Return |
|---|---|---|---|
| QSR | Restaurant Brands International Inc | 15.9% | +20.0% |
| BIP | Brookfield Infrastructure Partners LP | 11.4% | +9.4% |
| CSCO | Cisco Systems Inc | 7.4% | +52.2% |
| BNY | BlackRock New York Municipal Income Trust | 5.7% | +8.0% |
| GOOGL | Alphabet Inc Class A | 5.2% | +30.5% |
| PFE | Pfizer Inc | 4.6% | +8.7% |
| UNH | UnitedHealth Group Incorporated | 4.4% | +2.9% |
| DEO | Diageo PLC ADR | 4.4% | -2.1% |
| USB | U.S. Bancorp | 4.1% | +31.4% |
| MSFT | Microsoft Corporation | 3.9% | +7.0% |
| V | Visa Inc. Class A | 3.8% | +14.6% |
| VZ | Verizon Communications Inc | 3.8% | +19.2% |
| BAC | Bank of America Corp | 3.8% | +24.2% |
| TMO | Thermo Fisher Scientific Inc | 3.5% | +38.2% |
| AMT | American Tower Corp | 3.2% | -4.9% |
| ING | ING Group NV ADR | 3.2% | +41.2% |
| J | Jacobs Solutions Inc. | 3.2% | +0.6% |
| JPM | JPMorgan Chase & Co | 2.9% | +11.3% |
| MS | Morgan Stanley | 2.8% | +7.2% |
| RMR | RMR Group Inc | 2.7% | -5.6% |
Recent activity
| Date | Action | Ticker | Weight |
|---|---|---|---|
| Jul 20, 2026 | SELL | CSCO | 8.0% → 7.4% |
| Jul 20, 2026 | BUY | RMR | 0.0% → 2.7% |
| Jul 20, 2026 | BUY | V | 3.7% → 3.8% |
| Jul 20, 2026 | SELL | ING | 3.3% → 3.2% |
| Jul 20, 2026 | BUY | J | 3.1% → 3.2% |
Investment Style Analysis
Lincluden Investment Management, LTD is widely recognized for employing a Value strategy. As of Sep 3, 2026, the firm oversees approximately $0.2B in assets under management (AUM). The portfolio demonstrates a clear preference for the Restaurants and Utilities - Diversified sectors, reflecting a high-conviction approach to capital allocation.
Recent Market Moves
During the latest rebalancing period ending Jul 20, Lincluden Investment Management, LTD made a significant move by reducing the position in CSCO. This adjustment aligns with the fund's dynamic approach to risk management and capital deployment in current market conditions.
Investment Philosophy
Lincluden's core investment philosophy is rooted in a traditional value-based approach. The firm operates on the belief that while financial markets are generally efficient over the long term, short-to-medium-term inefficiencies frequently result in the mispricing of securities. Lincluden seeks to capitalize on these opportunities by identifying businesses and assets that trade at a significant discount to their appraised intrinsic or fair value. Their investment process relies on rigorous, bottom-up fundamental research to build focused portfolios of high-quality ideas. This disciplined price strategy serves as a buffer against market declines and positions portfolios for long-term capital appreciation and consistent income.
Disclaimer
The content provided on this page, including the simulated portfolio performance, holdings analysis, and AI-generated insights, is for informational and educational purposes only. It does not constitute financial advice, investment recommendations, or an offer to buy or sell any securities. All data is derived from historical SEC 13F filings and other public disclosures, which have a reporting lag. The "Simulated Performance" is a hypothetical reconstruction based on past disclosures and does not represent the actual returns of the institution. Past performance is not indicative of future results. Tritonix.ai is not affiliated with Lincluden Investment Management, LTD.
Similar Investment Style
Based on Value.
- Corstar Holdings, Inc. — Jeffrey J. Michael · 3M +14.7%
- Systematic Financial Management LP — Kenneth Burgess · 3M -8.8%
- Penn Capital Management Company, LLC — Richard A. Hocker · 3M -3.6%
- Reinhart Partners, LLC — James Reinhart · 3M +5.2%
Frequently asked questions
How is the simulated portfolio for Lincluden Investment Management, LTD constructed?
This simulation is powered by Tritonix AI using official SEC filings. We focus on the "Best Ideas" by filtering for only the Top 20 largest holdings and rebalancing them to 100%. The simulation tracks performance starting from Oct 1, 2025. Our AI monitors for updates every Monday to capture major shifts. This concentrated approach highlights the manager's true stock-picking skill and mirrors their actual investment returns.
What is Lincluden Investment Management, LTD's largest holding?
As of the latest filing, Lincluden Investment Management, LTD's top position is Restaurant Brands International Inc (QSR), representing 15.9% of the portfolio. This reflects a high-conviction bet by the institution.
What is Lincluden Investment Management, LTD's historical performance and risk profile?
Our simulation indicates a total return of +19.4% with a win rate of 62%. Notably, the portfolio maintains a Sharpe Ratio of 3.87, suggesting an exceptional level of risk-adjusted returns compared to the broader market.
What sectors does Lincluden Investment Management, LTD primarily invest in?
Lincluden Investment Management, LTD has a strong preference for the Restaurants sector, which makes up 15.9% of their disclosed assets. The portfolio also has exposure to Utilities - Diversified, indicating a specific thematic focus.
Is Lincluden Investment Management, LTD's portfolio concentrated or diversified?
Lincluden Investment Management, LTD runs a moderately concentrated portfolio with 20 disclosed positions. The top 3 holdings alone account for 34.7% of the total portfolio weight, suggesting a strategy that favors broader market exposure.
How has Lincluden Investment Management, LTD performed in 2026?
Our AI-simulated model portfolio for Lincluden Investment Management, LTD tracks a Year-to-Date (YTD) return of +14.4%. This metric helps investors gauge the institution's effectiveness in the current market environment.
Does Philip R. Evans manage Lincluden Investment Management, LTD directly?
Yes, Philip R. Evans serves as the key portfolio manager for Lincluden Investment Management, LTD, overseeing the investment strategy and final capital allocation decisions.