Clients
Guardian Capital serves 143 clients, 73 of them pooled investment vehicles. The average client has about $75 million with the firm.
- Pooled investment vehicles73 clients62%
- Pension and profit-sharing plans21 clients10%
- State or municipal government entities7 clients13%
- Other investment advisers4 clients2%
- Insurance companies6 clients3%
- OtherCorporations and other businesses, Investment companies, Charitable organizations, Other9%
Show client breakdownHide client breakdown
| Client type | Clients | Regulatory AUM | Share | Avg. per client |
|---|---|---|---|---|
| Investment companies | 2 | $53,966,957 | 0.5% | $27.0M |
| Pooled investment vehicles | 73 | $6,664,157,248 | 62.4% | $91.3M |
| Pension and profit-sharing plans | 21 | $1,090,916,773 | 10.2% | $51.9M |
| Charitable organizations | 16 | $160,044,691 | 1.5% | $10.0M |
| State or municipal government entities | 7 | $1,410,296,746 | 13.2% | $201.5M |
| Other investment advisers | 4 | $228,906,119 | 2.1% | $57.2M |
| Insurance companies | 6 | $339,878,783 | 3.2% | $56.6M |
| Corporations and other businesses | 8 | $571,381,563 | 5.4% | $71.4M |
| Other | 6 | $159,909,294 | 1.5% | $26.7M |
| Total | 143 | $10,679,458,174 | 100% | $74.7M |
- Clients
- 2
- Regulatory AUM
- $53,966,957
- Share
- 0.5%
- Avg. per client
- $27.0M
- Clients
- 73
- Regulatory AUM
- $6,664,157,248
- Share
- 62.4%
- Avg. per client
- $91.3M
- Clients
- 21
- Regulatory AUM
- $1,090,916,773
- Share
- 10.2%
- Avg. per client
- $51.9M
- Clients
- 16
- Regulatory AUM
- $160,044,691
- Share
- 1.5%
- Avg. per client
- $10.0M
- Clients
- 7
- Regulatory AUM
- $1,410,296,746
- Share
- 13.2%
- Avg. per client
- $201.5M
- Clients
- 4
- Regulatory AUM
- $228,906,119
- Share
- 2.1%
- Avg. per client
- $57.2M
- Clients
- 6
- Regulatory AUM
- $339,878,783
- Share
- 3.2%
- Avg. per client
- $56.6M
- Clients
- 8
- Regulatory AUM
- $571,381,563
- Share
- 5.4%
- Avg. per client
- $71.4M
- Clients
- 6
- Regulatory AUM
- $159,909,294
- Share
- 1.5%
- Avg. per client
- $26.7M
Total
- Clients
- 143
- Regulatory AUM
- $10,679,458,174
- Share
- 100%
- Avg. per client
- $74.7M
What it does
Guardian Capital provides portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled vehicles, portfolio management for institutions and selecting other managers. It is paid through a percentage of assets and performance-based fees.
Guardian Capital advises no private funds.
100.0% of assets ($10.68B across 218 accounts) are managed with discretion. $5.81M sits in a wrap fee program the firm both sponsors and manages. 99% of clients are outside the U.S., and 28 clients received advice without assets under management last fiscal year.
What the accounts hold
- Stocks60%
- Funds6%
- Bonds27%
- Sovereign bonds15%
- Investment grade corporate bonds12%
- Cash7%
Custodians
Guardian Capital’s client accounts are held mainly at CIBC Mellon Trust, with 24% of managed assets, and RBC Investor & Treasury Services, with 8%. Guardian Capital does not have custody of client assets.
- CIBC Mellon TrustCIBC Mellon Trust Company · Toronto · $2.53B24%
- RBC Investor & Treasury ServicesRBC Investor & Treasury Services · Toronto · $878.9M8%
- All other custodians$7.27B68%
Ownership and leadership
Guardian Capital Group Limited owns 75% or more of Guardian Capital, and George Mavroudis is its CEO.
- Owns 75% or more of Guardian Capital LP
Guardian Capital Group Limited
Control person · since January 2004
- Owns 75% or more of Guardian Capital Group Limited
Desjardins Global Asset Management Inc.
Control person · since March 2026
- Owns 75% or more of Desjardins Global Asset Management Inc.
Desjardins Financial Corporation Inc.
Control person · since March 2026
- Owns 75% or more of Desjardins Financial Corporation Inc.
Desjardins Financial Holding Inc.
Control person · since March 2026
- Owns 75% or more of Desjardins Financial Holding Inc.
Federation Des Caisses Desjardins Du Quebec
Control person · since March 2026
Leadership
- George MavroudisDirector, Chief Executive Officer
- Francis MercuriChief Financial Officer
- Richard BritnellChief Compliance Officer
- Nicolas RichardSenior Managing Director and Business Head
- Matthew TurnerDirector, General Counsel & Secretary
- Donald YiDirector
Staff
- 90 employees
- 38 in advisory functions
- 3 soliciting firms
Reported holdings
Guardian Capital’s reported 13F holdings total $4.11B across 174 positions, and the ten largest make up 36.5% of it.
- $4.11B
- Reported 13F value
- 174
- Positions
- 36.5%
- In the 10 largest
- +8.8%
- Value vs. prior quarter
- Royal BK Cda8.0%
- Canadian Nat Res Ltd Med Ter3.8%
- Toronto Dominion BK Ont3.7%
- Cgi Inc. · CL A Sub Vtg3.5%
- Brookfield Corp. · CL A Ltd VT SH3.5%
- Agnico Eagle Mines Ltd3.3%
- Suncor Energy Inc. New3.0%
- Open Text Corp.2.7%
- Bank Montreal Medium2.6%
- Canadian Pacific Kansas City2.5%
Together, the ten largest are 36.5% of reported value.
A 13F covers only exchange-traded long positions the firm holds with discretion, so this $4.11B is not its $10.68B in regulatory assets and does not represent any individual client's portfolio.
Fees
Guardian Capital is paid through a percentage of assets under management and performance-based fees.
Guardian Capital’s fee rates are not included in this profile. Find its brochure on the SEC’s site.
Offices and registrations
Besides its headquarters, Guardian Capital has 0 offices, with 1 listed address with no US state reported.
Registration details
- Legal name
- Guardian Capital LP
- Headquarters
- Commerce CT W, Suite 2700, 199 Bay Street, Toronto, Ontario, Canada M5L 1E8
- Phone
- 416-364-8341
- Website
- www.guardiancapitalfunds.com
- SEC file
- 801-56081
- Structure
- limited partnership 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 Guardian Capital have?
Guardian Capital has 143 clients and manages $10.7 billion for them, as of September 2026. They include 73 pooled investment vehicles, 21 pension and profit-sharing plans and 16 charitable organizations.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 9 September 2026
What services does Guardian Capital offer?
Guardian Capital provides portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled vehicles, portfolio management for institutions and selecting other managers.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does Guardian Capital use?
Guardian Capital’s separately managed account assets are held at CIBC Mellon Trust Company (Toronto), with $2,526,426,126 and RBC Investor & Treasury Services (Toronto), with $878,859,242. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 9 September 2026
How many financial advisors does Guardian Capital have?
Guardian Capital has 0 investment adviser representatives registered with state securities authorities, out of 90 employees, and 38 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 Guardian Capital invest in?
At the end of its last fiscal year, Guardian Capital’s separately managed accounts held 60% exchange-traded equities, 15% sovereign bonds, 12% investment grade corporate bonds, 7% cash and equivalents and 6% pooled vehicles (private funds and similar). 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 Guardian Capital?
Guardian Capital is owned through a chain of holding companies by Federation Des Caisses Desjardins Du Quebec. Its direct owner is Guardian Capital Group Limited (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 9 September 2026
How does Guardian Capital get paid?
Guardian Capital is paid through a percentage of assets under management 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