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Cardinal Capital Management, Inc.


1780 Wellington Ave.
Suite 400
Winnipeg, MB, MB R3H 1B3
(204) 783 - 0716
Toll Free: (800) 314 - 664

Principal Contacts

Emily Burt
Tel: (204) 783 - 0716

Client Minimums

Private: $500,000

Has no minimum for institutional clients.

Types of Accounts Managed

  • Private Individual / Investor
  • Family Office
  • Institutional Investor - Pension Plan
  • Institutional Investor - Non-Profit
  • Institutional Investor - First Nations
  • Institutional Investor - Other

Provinces of Business

  • Alberta*
  • British Columbia
  • Manitoba*
  • New Brunswick
  • Newfoundland and Labrador
  • Nova Scotia
  • Ontario*
  • Prince Edward Island
  • Quebec
  • Saskatchewan
  • Northwest Territories
  • Nunavut
  • Yukon
  • United States

* indicates a physical location in this province


Founded in Winnipeg, Manitoba, in August 1992, Cardinal Capital Management, Inc. is an independent portfolio management firm providing conservative investment management services to clients across North America. Cardinal’s clients include high net worth private clients as well as pension funds, trusts, mutual funds, foundations, and other institutional investors. Cardinal has offices in Winnipeg, Brandon, Calgary and Toronto. With over $3.8 billion in assets under management as at December 31, 2022, the firm offers extensive expertise in the management of equity, balanced, and fixed-income accounts using Canadian and U.S. stocks and Canadian bonds.

Cardinal is built on a strong foundation of investment management experience and expertise. Since the firm’s early days, Cardinal’s team has been driven by a commitment to superlative research, exceptional customer service, meaningful community service, and an unwavering desire to do what is best for our clients and their families.

Value Investment Philosophy

Our value investment philosophy provides investors with the peace of mind that comes with low volatility in a portfolio that can still benefit from market growth. Using fundamental analysis, we determine what quality companies to buy and we never want to pay too much to own them.

At Cardinal, we believe that holding balanced, diversified portfolios of high-quality stocks and bonds with an eye to long-term performance is the best way to achieve superior investment performance.

We generally invest in conservative, large-capitalization stocks selling at below-average price/earnings (P/E) ratios and above-average dividend yields. Our portfolios generally consist of 20-35 of such stocks, and have a material difference from the benchmark index.

Our primary investment objective is to earn consistent, above-average returns for our clients while assuming below-average risk and volatility.

Why Choose Cardinal

Cardinal Capital Management has helped its private clients protect and grow their wealth for the past two decades through sound investment counsel, and is proud to be an emerging presence in institutional investing in Canada. As your investment manager, Cardinal will consistently apply sound, conservative management and investing principles, and work with you toward achieving long-term success.

We provide professional portfolio management and investment counsel services for the following types of institutions:

  • Pension plans

  • Insurance companies

  • Foundations and endowments

  • Corporate resources

We manage for Private Clients through:

  • Referral arrangements with Family Offices

  • Financial Advisors that focus on high net worth clients

  • Portfolio management for over 1000 families across North America (We are registered throughout Canada as well as with the SEC in the United States)

Cardinal provides investment counsel in the following asset classes:

  • Canadian equity

  • U.S. equity

  • Canadian fixed income

Cardinal offers the following key advantages to its clients:

  • Strict adherence to Cardinal’s value investment philosophy and the Cardinal Rules.

  • Separately managed accounts at a low minimum portfolio level

  • Competitive management fees for the industry

  • Exemplary client service and reporting

  • Strong historical performance of better-than-market returns and lower-than-market volatility

”It is important for clients to understand that we are not building portfolios for this week or month, we are building portfolios for the long term.”-Timothy E. Burt, CFA, Founder, Cardinal Capital Management, Inc.