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.
Top 10 Holdings in PH&N Core Plus Bond Fund
| Holding | Country | Sector |
|---|---|---|
| Government of Canada 3.00% 1.Nov.24 | Canada | Federal |
| Government of Canada 2.750% 1.Sep.27 | Canada | Federal |
| United States Treasury Note/Bond 3.00% 15.Aig.52 | USA | Federal |
| Canada Housing Trust No. 1 1.550% 15.Dec.26 | Canada | Federal |
| Province of Quebec 3.25% 1.Sep.32 | Canada | Provincial |
| Province of Ontario 1.350% 2.Dec.30 | Canada | Provincial |
| Canadian Government Bond 0.50% 1.Dec.30 | Canada | Federal |
| Province of Ontario 5.600% 2.Jun.35 | Canada | Provincial |
| Canadian Government Bond 2.500% 1.Dec.32 | Canada | Federal |
| Province of Quebec 3.1% 1.Dec.51 | Canada | Provincial |
Fixed Income Fund
The Fixed Income Fund investments are managed by Phillips Hagar & North (PH&N).
On December 31, 2022 the investments included the following:
| Investment | $ |
| Money market | 442,997 |
| High Yield Mortgage | 3,417,283 |
| Mortgage Pension Trust | 8,795,794 |
| Core Plus Bond Fund | 25,382,286 |
| Total Fixed Income Fund | 38,038,660 |
Growth Fund
The Growth Fund Investments are managed by one Canadian equity managers, and two global equity managers.
On December 31, 2022 the holdings for each manager are as follows:
|
Investment |
$ |
| PH&N Canadian Equity Value Fund |
18,587,204 |
| RBC Global Equity Focus Fund |
13,243,667 |
| Ballie Gifford Global Equity |
12,907,465 |
|
44,738,336 |
Top 10 stocks held in the PH&N Canadian Equity Value Fund
| Holding | Country | Sector |
|---|---|---|
| Royal Bank of Canada | Canada | Financials |
| Toronto-Dominion Bank | Canada | Financials |
| Enbridge Inc. | Canada | Energy |
| Canadian Natural Resources Ltd | Canada | Energy |
| Brookfield Asset Management Inc., Class A | Canada | Financials |
| Canadian Pacific Railway Ltd. | Canada | Industrials |
| Canadian National Railway Company | Canada | Industrials |
| Bank of Montreal | Canada | Financials |
| Suncor Energy Inc. | Canada | Energy |
| Bank of Nova Scotia | Canada | Financials |
Top 10 stocks held in the PH&N RBC Global Equity Fund
| Holding | Country | Sector |
|---|---|---|
| United Health Group Incorporated | United States | Health Care |
| Microsoft Corp. | United States | Information Technology |
| Alphabet Inc., Class A | United States | Telecommunication Services |
| Roche Holdings AG Genusscheine | Switzerland | Health Care |
| PepsiCo. Inc | United States | Consumer Staples |
| T-Mobile US Inc | United States | Telecommunication Services |
| Amazon.com Inc | United States | Consumer Discretionary |
| Fortive Corp | United States | Industrials |
| Equinor ASA - Common Shares - Voting | Norway | Energy |
| AutoZone Inc | United States | Consumer Discretionary |
Top 10 stocks held in Ballie Gifford Global Equity
| Holding | Country |
|---|---|
| Elevance Health Inc | United States |
| Prosus NV Ordinary Shares - Class N | Netherlands |
| Martin Marietta Materials Inc | United States |
| Microsoft Corp | United States |
| Moody's Corporation | United States |
| Reliance Industries Ltd ADR | India |
| Service Corp International | United States |
| Alphabet Inc. C | United States |
| Arthur J. Gallagher & Co. | United States |
| BHP Group Ltd | Australia |