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Portfolios

The ELCIC Pension Plan has two investment funds. Please refer to the Statement of Investment Policies & Procedures page on our website for detailed investment portfolio construction.

Fixed Income Fund

The Fixed Income Fund investments are managed by Phillips Hagar & North (PH&N).

On September 30, 2024 the investments included the following:

Investment               $
Money market 148,216
High Yield Mortgage 2,932,135
Mortgage Pension Trust 9,360,088
Core Plus Bond Fund 27,775,910
Total Fixed Income Fund 40,216,349

Growth Fund

The Growth Fund Investments are managed by one Canadian equity managers, and two global equity managers.

On September, 2024 the holdings for each manager are as follows:

Investment

$

PH&N Canadian Equity Value Fund

19,578,120

RBC Global Equity Focus Fund

14,618,008

Ballie Gifford Global Equity

15,366,577

Total Growth Fund 47,501,031

Top 10 stocks held in the PH&N Canadian Equity Value Fund

HoldingCountrySector
Royal Bank of CanadaCanadaFinancials
Canadian Natural Resources LtdCanadaEnergy
Toronto-Dominion BankCanadaFinancials
Brookfield CorpCanadaFinancials
Shopify Inc.CanadaInformation Technology
Canadian Pacific Kansas City Ltd.CanadaIndustrials
Enbridge Inc.CanadaEnergy
Canadian National Railway CompanyCanadaIndustrials
Bank of MontrealCanadaFinancials
Suncor Energy IncCanadaEnergy

Top 10 stocks held in the PH&N RBC Global Equity Fund

HoldingSectorCountry
NVIDIA CorpInformation TechnologyUnited States
Microsoft Corp.Information TechnologyUnited States
AmazonConsumer StaplesUnited States
United Health Group IncorporatedHealth CareUnited States
Taiwan Semiconductor Manufacturing Co LtdInformation TechnologyTaiwan
Novo Nordisk Health CareDenmark
Visa Inc. Class A sharesFinancialsUnited States
Safran ACIndustrialsFrance
AutoZone IncConsumer DiscretionaryUnited States
Home Depot IncConsumer DiscretionaryUnited States

Top 10 stocks held in Baillie Gifford Global Equity

HoldingDescription of BusinessCountry
Microsoft Corpsoftware companyUnited States
Meta Platforms Incsocial networking websiteUnited States
Amazon.comonline retail and computing infrastructure companyUnited States
Elevance Health Inchealthcare insurerUnited States
NVIDIA
information technologyUnited States
Martin Marietta Materials Inccement and aggregates manufacturerUnited States
CRHdiversified building materials companyIreland
Prosus N.V
technology investment groupNetherlands
TSMCsemiconductor manufacturing companyTaiwan
Ryanair ADRlow-cost airlineIreland