1y return+20.6%S&P 500 +20.9%
3y return+44.3%S&P 500 +68.5%
5y return+46.4%S&P 500 +74.5%
10y return+164.4%S&P 500 +256.5%
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
$100 invested in its stock picks
Since June 30, 2016: $264 against $357 in the S&P 500.2
Cardinal Capital ManagementS&P 500 (SPY)
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| LLYEli Lilly & Co | $31.8M | 3.8% | −1.1% |
| JNJJohnson & Johnson | $29.2M | 3.5% | −1.3% |
| AAPLApple Inc | $25.0M | 3.0% | |
| GOOGLAlphabet Inc | $22.7M | 2.7% | −1.0% |
| BNYBank Of Ny Mellon Corp | $19.6M | 2.4% | −1.1% |
| COSTCostco Wholesale Corporation | $19.3M | 2.3% | |
| JPMJpmorgan Chase & Co | $19.1M | 2.3% | |
| MSFTMicrosoft Corp | $18.7M | 2.3% | +1.1% |
| CSCOCisco Sys Inc | $18.3M | 2.2% | −1.0% |
| DEDeere & Co | $17.5M | 2.1% | −1.0% |
| WMTWalmart Inc | $17.4M | 2.1% | |
| Exxon Mobil CorpCUSIP 30231G102 | $15.7M | 1.9% | |
| CMICummins Inc | $14.9M | 1.8% | |
| QCOMQualcomm Inc | $12.9M | 1.6% | |
| EMREmerson Elec Co | $12.7M | 1.5% | |
| IBMInternational Business Machs | $12.6M | 1.5% | |
| MRKMerck & Co Inc | $12.4M | 1.5% | |
| ECLEcolab Inc | $12.0M | 1.5% | |
| ITWIllinois Tool Wks Inc | $11.8M | 1.4% | |
| KEYSKeysight Technologies Inc | $11.6M | 1.4% | −16.1% |
| LHLabcorp Holdings Inc | $10.8M | 1.3% | |
| LOWLowes Cos Inc | $10.6M | 1.3% | |
| TFCTruist Finl Corp | $10.3M | 1.3% | |
| ADPAutomatic Data Processing In | $10.1M | 1.2% | |
| AAgilent Technologies Inc | $10.0M | 1.2% |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| AGXArgan Inc | June 30, 2020 | +1585.4% | $8.8M |
| CWCurtiss Wright Corp | June 30, 2020 | +748.7% | $7.8M |
| LLYEli Lilly & Co | June 30, 2020 | +630.6% | $31.8M |
| ODCOil Dri Corp Amer | June 30, 2020 | +489.1% | $8.9M |
| GOOGLAlphabet Inc | June 30, 2020 | +404.0% | $22.7M |
| CMICummins Inc | June 30, 2020 | +311.7% | $14.9M |
| DEDeere & Co | June 30, 2020 | +303.7% | $17.5M |
| BNYBank Of Ny Mellon Corp | September 30, 2022 | +275.4% | $19.6M |
| JPMJpmorgan Chase & Co | June 30, 2020 | +248.0% | $19.1M |
| KEYSKeysight Technologies Inc | June 30, 2020 | +247.4% | $11.6M |
Sold off last quarter
- Masimo CorpCUSIP 574795100 was $3.9M
- SAMBoston Beer Inc was $2.6M
- Sealed Air Corp NewCUSIP 81211K100 was $2.2M
- Dupont De Nemours IncCUSIP 26614N102 was $478K
- Magnum Ice Cream Co NvCUSIP N5505D105 was $127K
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +7.7% | +14.8% |
| March 31, 2026 | +2.3% | −4.6% |
| December 31, 2025 | +3.9% | +2.4% |
| September 30, 2025 | +5.4% | +7.8% |
| June 30, 2025 | +4.3% | +10.5% |
| March 31, 2025 | −0.6% | −4.6% |
| December 31, 2024 | −1.6% | +2.1% |
| September 30, 2024 | +6.1% | +5.4% |
| June 30, 2024 | −1.3% | +4.0% |
| March 31, 2024 | +6.9% | +10.0% |
| December 31, 2023 | +7.8% | +11.2% |
| September 30, 2023 | −2.8% | −3.6% |
| June 30, 2023 | +3.8% | +8.3% |
| March 31, 2023 | +1.9% | +7.0% |
| December 31, 2022 | +11.3% | +7.1% |
| September 30, 2022 | −4.9% | −5.3% |
| June 30, 2022 | −11.7% | −16.5% |
| March 31, 2022 | −5.2% | −4.9% |
| December 31, 2021 | +10.1% | +10.7% |
| September 30, 2021 | −1.5% | +0.3% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: Cardinal Capital Management Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1434845&type=13F-HR&dateb=&owner=include&count=40CIK 1434845
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1434845/000143484526000004/Filed July 21, 2026 · accession 0001434845-26-000004