Vancity Investment Management Ltd — 13F Portfolio

Vancity Investment Management Ltd (VIML) is the investment management arm associated with Vancouver City Savings Credit Union (Vancity), one of Canada’s largest community-based credit unions. Based in Vancouver, British Columbia, VIML focuses on actively managed, sustainable and responsible investment strategies for institutional clients, sub-advisory relationships, and retail investors accessing Vancity-branded funds and model portfolios. The firm is positioned as an ESG- and impact-oriented asset manager, integrating environmental, social, and governance considerations across its investment processes. Vancity Investment Management Ltd appears in the U.S. regulatory framework as a foreign institutional investment manager filing with the Securities and Exchange Commission under CIK #0001846311. Its quarterly Form 13F reports disclose the firm’s reportable long positions in U.S.-listed equities and ADRs over which it has investment discretion—typically the U.S. component of broader Canadian and global equity mandates. These disclosures do not include Canadian-listed securities, non-U.S. local shares, fixed income, private assets, or derivatives, all of which can be significant within diversified client portfolios. When organized into a multi-period 13F History, however, the filings provide a structured, regulator-defined window into how VIML expresses its sustainable-investing philosophy through U.S.-listed securities.

Vancity Investment Management Ltd pursues a fundamentally driven, ESG-integrated global equity strategy with a clear focus on sustainability, impact, and responsible ownership. Its mandates generally combine: - Exclusions and norms-based screens – Systematic avoidance of companies involved in controversial weapons, tobacco, thermal coal and many other high-carbon fossil fuel activities, serious environmental damage, or persistent human-rights abuses. - Positive ESG tilts – Preference for issuers with stronger governance, better management of environmental and social risks, and products or services that contribute to the transition to a lower-carbon, more inclusive economy (for example, renewable energy, energy efficiency, sustainable infrastructure, and inclusive finance). - Active ownership – Engagement with portfolio companies on ESG topics and proxy voting aligned with long-term sustainability objectives. Fundamental analysis remains central. The investment team evaluates business models, competitive positioning, balance-sheet strength, earnings and cash-flow trajectories, and management quality, integrating ESG factors as financially material inputs rather than treating them as an overlay. Portfolios are long-only, benchmark-aware but not index-hugging, with active risk taken through stock selection and structural ESG tilts rather than through aggressive leverage or derivatives. In the U.S. equity sleeve visible in Form 13F, this philosophy typically manifests as: - Multi-sector exposure to high-quality financials, industrials and infrastructure-related names, technology and communication services businesses with durable franchises, healthcare companies positioned on access or innovation, and consumer names aligned with health, wellness, and sustainability trends. - Persistently lower exposure to traditional energy (especially pure-play fossil fuels), tobacco, and other excluded industries, resulting in a different sector mix than broad U.S. indices. - A mix of large- and mid-cap issuers, complemented by selected smaller companies where impact and growth potential are deemed compelling, subject to liquidity and risk controls. Turnover in the 13F-reportable book is generally low to moderate—core ESG leaders and impact names are held over multi-year horizons as long as the thesis and sustainability profile remain intact. Adjustments are driven by changes in company fundamentals, ESG performance, valuations, and engagement outcomes rather than by short-term market noise. For allocators using public filings as a secondary lens, examining changes in the firm’s 13F Portfolio Composition over time—issuer counts, sector tilts, and shifts in the mix of higher- versus lower-carbon industries—provides evidence of how the sustainable-investing mandate has been implemented in U.S. markets across different macro and policy regimes.

Viewed through its SEC filings under CIK #0001846311, Vancity Investment Management Ltd presents as a fundamentally driven, ESG-specialist asset manager whose U.S. equity holdings are a targeted extension of broader global sustainable-investing mandates. The 13F record shows diversified, long-only exposure to higher-quality issuers across core sectors, persistent underweights in high-carbon and controversial industries, and low to moderate turnover—all consistent with a long-horizon, impact-aware approach. For institutional allocators and oversight bodies, organizing the firm’s U.S. holdings into a structured 13F History and analyzing them via a Portfolio Simulator or similar Backtesting Service enables a disciplined assessment of implementation. Patterns in 13F Portfolio Composition, combined with a reconstructed U.S. equity Volatility Profile, Historical Track Record, and implied Sharpe Ratio, help clarify how the sustainable U.S. sleeve has interacted with equity and commodity cycles, climate-policy developments, and style rotations between value, growth, and quality. Because Form 13F captures only the long U.S.-listed portion of Vancity Investment Management Ltd’s activity, these holdings-based diagnostics should be integrated with broader information on its Canadian and global equity portfolios, fixed income and cash allocations, and formal ESG and impact frameworks. As decarbonization policies, investor preferences, and sector leadership continue to evolve, a central question for allocators is how sensitive VIML’s ESG-tilted U.S. equity sleeve will be to future shifts in climate and sustainability regimes—and how that regime sensitivity should inform its role within diversified, multi-manager global allocations.

The overall risk posture of Vancity Investment Management Ltd’s strategies is that of a diversified, long-only global equity manager with explicit ESG constraints and tilts. At the total-portfolio level, many clients are invested through balanced or multi-asset solutions that include fixed income and cash, alongside Canadian and global equities, which are not visible in Form 13F. Within the U.S. equity subset captured by 13F, several risk characteristics stand out: - Equity-market risk – The U.S. sleeve remains materially exposed to broad equity-market movements. A holdings-based reconstruction will show meaningful drawdowns in major U.S. selloffs and participation in recoveries, even as sector tilts can produce deviations from standard benchmarks. - ESG and sector tilts – Structural underweights in fossil fuels and other screened sectors, and overweights in areas like industrial solutions, financials with strong governance, and enabling technologies, create distinctive factor exposures. These can lead to underperformance during narrow, energy-led rallies and relative resilience in periods where climate policy, regulation, or investor preferences penalize high-carbon business models. - Style and factor bias – The emphasis on balance-sheet strength, governance, and sustainable cash-flow generation often yields tilts toward quality and GARP (growth at a reasonable price) factors, with moderate value sensitivity in hard-asset and financial holdings. Portfolios inferred from 13F filings generally exhibit diversified multi-name, multi-sector construction, limiting single-issuer risk even though larger, high-conviction holdings—particularly in key sustainability themes—can influence capital behavior. Turnover patterns imply that realized risk is driven primarily by business and policy cycles, ESG re-rating dynamics, and sector rotations, not by tactical trading. Using VIML’s historical 13F data, allocators can approximate an equity Volatility Profile for the U.S. sleeve by mapping disclosed holdings to their price histories and replaying those portfolios over time. When that reconstructed portfolio is run through a Portfolio Simulator or Backtesting Service—normalized to a user-defined starting notional—it yields an indicative Historical Track Record for the reportable long-equity component. From this capital trajectory, one can estimate drawdown depth and duration in episodes such as energy booms, climate-policy shocks, or broad equity selloffs, and derive an implied Sharpe Ratio as a summary of risk‑adjusted outcomes for the visible U.S. equity allocations. These analytics should be interpreted strictly as a lens on the 13F-reportable U.S. sleeve. They do not reflect the full global opportunity set, Canadian holdings, fixed income, or any currency and risk overlays that Vancity Investment Management Ltd may employ to shape overall client risk and impact profiles.