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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 December 31, 2023 the investments included the following:

Investment               $
Money market 351,436
High Yield Mortgage 3,409,465
Mortgage Pension Trust 9,812,201
Core Plus Bond Fund 25,113,493
Total Fixed Income Fund 38,686,595

Growth Fund

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

On December 31, 2023 the holdings for each manager are as follows:

Investment

$

PH&N Canadian Equity Value Fund

18,766,516

RBC Global Equity Focus Fund

13,738,276

Ballie Gifford Global Equity

13,990,563

Total Growth Fund 46,495,355

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

HoldingCountrySector
Royal Bank of CanadaCanadaFinancials
Toronto-Dominion BankCanadaFinancials
Canadian Natural Resources LtdCanadaEnergy
Canadian Pacific Railway Ltd.CanadaIndustrials
Enbridge Inc.CanadaEnergy
Bank of MontrealCanadaFinancials
Brookfield Asset Management Inc., Class ACanadaFinancials
Canadian National Railway CompanyCanadaIndustrials
Shopify Inc.CanadaInformation Technology
Bank of Nova ScotiaCanadaFinancials

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

HoldingCountrySector
Microsoft Corp.United StatesInformation Technology
United Health Group IncorporatedUnited StatesHealth Care
AmazonUnited StatesConsumer Staples
Alphabet Inc. Class A sharesUnited StatesTelecommunication Services
Fortive CorpUnited StatesIndustrials
AutoZone IncUnited StatesConsumer Discretionary
Visa Inc. Class A sharesUnited StatesFinancials
T-Mobile US IncUnited StatesTelecommunication Services
EOG Resources IncUnited StatesEnergy
NVIDIA CorpUnited StatesInformation Technology

Top 10 stocks held in Baillie Gifford Global Equity

HoldingDescription of BusinessCountry
Microsoft Corpsoftware companyUnited States
Martin Marietta Materials Inccement and aggregates manufacturerUnited States
Amazon.comonline retail and computing infrastructure companyUnited States
Elevance Health Inchealthcare insurerUnited States
Moody's Corporationcredit rating agencyUnited States
Ryanair ADRlow-cost airlineIreland
CRHdiversified building materials companyIreland
Meta Platforms Incsocial networking websiteUnited States
Alphabet Inc. Conline search engineUnited States
Reliance Industries GDRconglomerate in energy, textile, digital and financial services and moreIndia