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Addenda Capital

SEC-registered adviser since 2005Montreal, Quebec, CanadaCRD 137034

$29.0B
AUM
336
Clients
See fees
Fee
60
Advisory staff

From Form ADV filed 30 March 2026 · data retrieved 15 October 2026SEC record

Addenda Capital is an investment adviser headquartered in Montreal, Quebec, Canada, and registered with the SEC since 2005. Its clients include insurance companies, pooled investment vehicles and state or municipal government entities. High-net-worth individuals account for 0% of its regulatory assets under management.

Its services include portfolio management for individuals and small businesses, portfolio management for pooled vehicles, portfolio management for institutions, publishing newsletters, and educational seminars. Fee arrangements include a percentage of assets under management, fixed fees and performance-based fees. Co-Operators Financial Services Limited owns 50% to 75% of Addenda Capital, and Roger Beauchemin is its CEO.

Clients

Addenda Capital serves 336 clients, 220 of them pooled investment vehicles. The average client has about $86 million with the firm, and high-net-worth clients hold 0% of its $29 billion in assets.

Regulatory assets by client type
  • Pooled investment vehicles220 clients33%
  • Pension and profit-sharing plans19 clients10%
  • Charitable organizations5 clients2%
  • State or municipal government entities9 clients11%
  • Other investment advisers9 clients4%
  • OtherInsurance companies, Corporations and other businesses, High-net-worth individuals40%
Show client breakdown
Individuals (other than HNW)
Clients
2
Regulatory AUM
$0
Share
0.0%
Avg. per client
$0
High-net-worth individuals
Clients
30
Regulatory AUM
$10,964,714
Share
0.0%
Avg. per client
$365K
Pooled investment vehicles
Clients
220
Regulatory AUM
$9,606,311,915
Share
33.1%
Avg. per client
$43.7M
Pension and profit-sharing plans
Clients
19
Regulatory AUM
$2,832,229,226
Share
9.8%
Avg. per client
$149.1M
Charitable organizations
Clients
5
Regulatory AUM
$709,583,689
Share
2.4%
Avg. per client
$141.9M
State or municipal government entities
Clients
9
Regulatory AUM
$3,066,663,072
Share
10.6%
Avg. per client
$340.7M
Other investment advisers
Clients
9
Regulatory AUM
$1,055,003,898
Share
3.6%
Avg. per client
$117.2M
Insurance companies
Clients
25
Regulatory AUM
$10,244,395,139
Share
35.3%
Avg. per client
$409.8M
Corporations and other businesses
Clients
17
Regulatory AUM
$1,497,580,184
Share
5.2%
Avg. per client
$88.1M

Total

Clients
336
Regulatory AUM
$29,022,731,837
Share
100%
Avg. per client
$86.4M

What it does

Addenda Capital provides portfolio management for individuals and small businesses, portfolio management for pooled vehicles, portfolio management for institutions, publishing newsletters and educational seminars. It is paid through a percentage of assets, fixed fees and performance-based fees.

Addenda Capital advises no private funds.

100.0% of assets ($29.02B across 336 accounts) are managed with discretion. 100% of clients are outside the U.S., and 1 clients received advice without assets under management last fiscal year.

What the accounts hold

Separately managed account assets by class, year end

The filed percentages total 101%. The values below are shown as filed.

Exchange-traded equity securities
13%
U.S. government/agency bonds
1%
Sovereign bonds
43%
Investment grade corporate bonds
31%
Non-investment grade corporate bonds
1%
Cash and cash equivalents
3%
Other (Supranationals, Mortgages, Real Estate, Investment Partnerships, Private Equity, Private Debts, Credit Unions, Coop Credit Unions and Funds, Other Funds.)
9%

Custodians

Addenda Capital’s client accounts are held mainly at CIBC Mellon GSP, with 50% of managed assets, and RBC Investor Services Trust, with 9%. Addenda Capital does not have custody of client assets.

Managed account assets by custodian
  • RBC Investor Services TrustRBC Investor Services Trust · Toronto · $2.50B9%
  • CIBC Mellon GSPCIBC Mellon GSP · Toronto · $14.44B50%
  • All other custodians$12.09B42%

Ownership and leadership

Co-Operators Financial Services Limited owns 50% to 75% of Addenda Capital, and Roger Beauchemin is its CEO.

Who owns the firm
Addenda Capital Inc.· the adviser

  • The Co-Operators Group Limited

    Control person · since April 2008

    Owns 75% or more of Addenda Capital Inc.

  • Co-Operators Financial Services Limited

    Control person · since April 2008

    Owns 50% to 75% of Addenda Capital Inc.

Leadership

  • Roger Beauchemin
    Director, President and Chief Executive Officer
  • Kim Chafee
    Vice-President & Co-Head, Canadian Equities
  • Isabelle Gosselin
    Executive Vice-President, Talent Management
  • Rocio Gueto
    Vice-President, Client Partnerships - Institutional Markets
  • Kenneth Johnston
    Vice-President, Client Partnerships and Head of Platform Distribution
  • Todd Kapala
    Vice-President & Co-Head, Canadian Equities
  • Adam Kot
    Vice-President and Head, Commercial Mortgages
  • Tyler McKinna
    Vice-President, Commercial Mortgages
  • Carl Pelland
    Vice-President Fixed Income and Head, Corporate and Impact Bonds
  • Christian Robert
    Vice-President, Investment Solutions and Product Management
  • Pallaris Savvas
    Executive Vice-President, Commercial Mortgages
  • John Stilo
    Vice-President, Core Fixed Income
  • Charles Leblanc
    Chief Operating Officer
  • Jean-Marc Prud'Homme
    Chief Compliance Officer and Chief Risk Officer
  • Philip Baudin
    Director
  • Janick Boudreau
    Executive VP, Business Development and Client Partnerships
  • Francois Cardin
    Corporate Secretary, General Counsel and Manager Corporate Affairs
  • Gregory Chrispin
    Director
  • Yanick Desnoyers
    Chief Economic Strategist
  • Monika Freyman
    VP Sustainable Investing
  • Karen Higgins
    Director
  • Lynne McCarthy
    Director
  • Ian McKinnon
    Chief Investment Officer
  • Carol Poulsen
    Director
  • Robert Phillip Wesseling
    Director
  • Michael White
    Chairman

Staff

  • 163 employees
  • 60 in advisory functions

Reported holdings

Addenda Capital’s reported 13F holdings total $3.68B across 128 positions, and the ten largest make up 38.8% of it.

$3.68B
Reported 13F value
128
Positions
38.8%
In the 10 largest
+3.6%
Value vs. prior quarter
Ten largest positions, share of reported value
  1. Toronto Dominion BK Ont6.1%
  2. Royal BK Cda6.0%
  3. Bank Montreal Medium4.3%
  4. Bank Nova Scotia B C3.6%
  5. Brookfield Corp. · CL A Ltd VT SH3.6%
  6. Shopify Inc. · CL A Sub Vtg Shs3.5%
  7. Enbridge Inc.3.3%
  8. Cameco Corp.2.8%
  9. Canadian Nat Res Ltd Med Ter2.8%
  10. Canadian Pacific Kansas City2.8%

Together, the ten largest are 38.8% of reported value.

The 50 largest positions and quarterly changesQuarter ended 30 June 2026 · filed 14 July 2026

A 13F covers only exchange-traded long positions the firm holds with discretion, so this $3.68B is not its $29.02B in regulatory assets and does not represent any individual client's portfolio.

Fees

Addenda Capital is paid through a percentage of assets under management, fixed fees (other than subscription fees) and performance-based fees.

Addenda Capital’s fee rates are not included in this profile. Find its brochure on the SEC’s site.

Offices and registrations

Besides its headquarters, Addenda Capital has 3 offices, with 1 listed address with no US state reported.

Registration details

Legal name
Addenda Capital Inc.
Headquarters
800 Rene-Levesque BLVD. West, Suite 2800, Montreal, Quebec, Canada H3B 1X9
Phone
514-287-7373
Website
addendacapital.com
SEC file
801-64799
Structure
corporation organized in Canada
Fiscal year end
December

This directory does not report disciplinary history, for any firm or individual, in either direction. The SEC publishes the complete record, including any disciplinary events, and it is the authoritative place to check one. See this firm's record on adviserinfo.sec.gov

Common questions

How many clients does Addenda Capital have?

Addenda Capital has 336 clients and manages $29 billion for them, as of March 2026. They include 220 pooled investment vehicles, 30 high-net-worth individuals and 25 insurance companies.

Source: Form ADV Part 1A, Items 5.D and 5.F, filed 30 March 2026

What services does Addenda Capital offer?

Addenda Capital provides portfolio management for individuals and small businesses, portfolio management for pooled vehicles, portfolio management for institutions, publishing newsletters and educational seminars.

Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file

Which custodians does Addenda Capital use?

Addenda Capital’s separately managed account assets are held at CIBC Mellon GSP (Toronto), with $14,438,672,471 and RBC Investor Services Trust (Toronto), with $2,495,256,912. Only custodians holding at least a tenth of those assets are named.

Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 30 March 2026

How many financial advisors does Addenda Capital have?

Addenda Capital has 0 investment adviser representatives registered with state securities authorities, out of 163 employees, and 60 perform investment advisory functions. None are registered representatives of a broker-dealer or licensed insurance agents.

Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file

What does Addenda Capital invest in?

At the end of its last fiscal year, Addenda Capital’s separately managed accounts held 43% sovereign bonds, 31% investment grade corporate bonds, 13% exchange-traded equities, 9% supranationals, mortgages, real estate, investment partnerships, private equity, private debts, credit unions, coop credit unions and funds, other funds., 3% cash and equivalents, 1% U.S. government and agency bonds and 1% high-yield corporate bonds. It advises no private funds of its own.

Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file

Who owns Addenda Capital?

Addenda Capital’s direct owners are Co-Operators Financial Services Limited (50% to 75%) and the Co-Operators Group Limited (75% or more).

Source: Form ADV Part 1A, Schedules A and B, filed 30 March 2026

How does Addenda Capital get paid?

Addenda Capital is paid through a percentage of assets under management, fixed fees and performance-based fees. Its Form ADV lists no commissions among how it is paid.

Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file

Sources

  1. Form ADV Part 1A, amendment filed 30 March 2026. Items 1, 5, 9, 11 and Schedules A, B and D.
  2. IAPD firm record, CRD 137034.
  3. Form 13F-HR, filed 14 July 2026 for the quarter ended 30 June 2026.

Retrieved 15 October 2026. All are published by the SEC and may have been amended since.

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This profile is compiled from public regulatory filings and is provided for informational purposes only. Niva Wealth is not affiliated with Addenda Capital Inc. and makes no representation about the quality of its services. Figures reflect the filing dates shown and may have changed. Ownership percentages are the bands reported to the SEC, not exact figures.