Firm profile

Canso Investment Counsel Ltd..

RICHMOND HILL, ONTARIO, CanadaCRD 336447Registration Status: ApprovedEffective since May 30, 2025SEC # 801-132893Latest ADV September 25, 2026

Canso Investment Counsel Ltd. is an SEC registered investment adviser organized as a corporation with a primary office location in Richmond Hill, Ontario, Canada. Its latest Form ADV filing, dated September 25, 2026, reports $46.6B in regulatory assets under management, 71 employees, 2 offices, and 105 accounts.

Assets Under Management
$46.6B
Employees
71
Offices
2 offices
Total Clients
107

Associated firm names

1 name listed
  • CANSO INVESTMENT COUNSEL LTD.

Leadership

3 roles identified
CEOJohn P. Carswell
CCOJeffrey T. F. Tang
CFOShirley L. Sumsion

Advisory services offered

3 types reported
Portfolio management for businesses
Portfolio management for individuals and small businesses
Portfolio management for pooled investment vehicles

Fee models offered

2 types reported
Asset based fees
Performance-based fees

Offices & Contact

Primary office

RICHMOND HILL, ONTARIO, Canada

Loading map…

Primary office regionOther reported regions

Shading shows states and countries with reported offices. Cities are listed below; shading does not indicate service coverage.

Canada

RICHMOND HILL, ONTARIOPrimary office · MONTREAL, QUEBEC

2 office records listed · 2 total offices reported. Counts can use different reporting dates. SEC filers may list only their largest 25 additional offices.

Contact and digital presence

ADV profile links

Regulatory Assets Under Management Breakdown

Total regulatory assets under management$46.6Bas of September 25, 2026
Discretionary100.0%
$46.6B
100% of total RAUM100.0%
Non-discretionary0.0%
$0
0% of total RAUM0.0%
All regulatory assets under management are discretionary.

Client Coverage Demographics

Top client segmentPooled Investment Vehicles represent 59.8% of total clients.
Top client categories% of clientsClients
1
Pooled Investment Vehicles
59.8%
64
2
Pension Plans
8.4%
9
3
Government
8.4%
9
4
Other Advisers
8.4%
9
5
Corporations
7.5%
8
Categories with <5 clients
Charitable Organizations<5 clients
Insurance companies<5 clients

Assets under management Growth by Quarter

Quarterly points use the latest ADV filing or SEC roster snapshot available in each quarter.

Total AUM$46.6B
Total Accounts105
10Y AUM Change+$8.9B (+23.5%)

Private Funds

Private funds reported by Canso Investment Counsel Ltd..

Loading private fund disclosures…

Employee Growth by Quarter

Quarterly points use the latest ADV filing or SEC roster snapshot available in each quarter.

Total Employees71
Clients per Employee2:1
10Y Employee Change+4 (+6.0%)

Historical AUM and employee figures reflect available SEC Form ADV filings under this CRD. Filing gaps may reflect registration status changes, dormant periods, state registration periods, firm restructuring, or other reporting changes. Rialytix does not interpolate missing periods.


Ownership

Reported direct and indirect ownership ranges

Each range applies to a separate reported relationship and should not be added together.

Reported ownership ranges

Highlighted bands show the percentage range reported in Form ADV.

0%25%50%75%100%
GRIP ASSET MANAGEMENT LIMITEDDirect owner · Schedule AInterest in CANSO INVESTMENT COUNSEL LTD.
50% to < 75%
GRIP INVESTMENTS LIMITEDDirect owner · Schedule AInterest in CANSO INVESTMENT COUNSEL LTD.
10% to < 25%
Gail Roberta MudieDirect owner · Schedule AInterest in CANSO INVESTMENT COUNSEL LTD.
10% to < 25%
Heather Elizabeth Mason-WoodDirect owner · Schedule AInterest in CANSO INVESTMENT COUNSEL LTD.
10% to < 25%
Vivek VermaDirect owner · Schedule AInterest in CANSO INVESTMENT COUNSEL LTD.
10% to < 25%
Brian Richard Usher-JonesDirect owner · Schedule AInterest in CANSO INVESTMENT COUNSEL LTD.
10% to < 25%
Joseph Patrick MorinDirect owner · Schedule AInterest in CANSO INVESTMENT COUNSEL LTD.
5% to < 10%
Timothy John HicksDirect owner · Schedule AInterest in CANSO INVESTMENT COUNSEL LTD.
5% to < 10%
Moon Jong LeeDirect owner · Schedule AInterest in CANSO INVESTMENT COUNSEL LTD.
5% to < 10%
Joseph Timothy Patrick McCalmontDirect owner · Schedule AInterest in CANSO INVESTMENT COUNSEL LTD.
5% to < 10%
JEFFREY STEPHEN CARTERDirect owner · Schedule AInterest in CANSO INVESTMENT COUNSEL LTD.
5% to < 10%
Jason Sean BellDirect owner · Schedule AInterest in CANSO INVESTMENT COUNSEL LTD.
5% to < 10%
Nicolas Israel DesjardinsDirect owner · Schedule AInterest in CANSO INVESTMENT COUNSEL LTD.
5% to < 10%
Jason Gerald DavisDirect owner · Schedule AInterest in CANSO INVESTMENT COUNSEL LTD.
5% to < 10%
JOHN WILLIAM LAINGDirect owner · Schedule AInterest in CANSO INVESTMENT COUNSEL LTD.
5% to < 10%
Antonietta BizzottoDirect owner · Schedule AInterest in CANSO INVESTMENT COUNSEL LTD.
< 5%
Jeffrey Tse Fai TangDirect owner · Schedule AInterest in CANSO INVESTMENT COUNSEL LTD.
< 5%
Shirley Lynn SumsionDirect owner · Schedule AInterest in CANSO INVESTMENT COUNSEL LTD.
< 5%
GRIP INVESTMENTS LIMITEDIndirect owner · Schedule BInterest in GRIP ASSET MANAGEMENT LIMITED
75%+
John Paul CarswellIndirect owner · Schedule BInterest in GRIP INVESTMENTS LIMITED
75%+

Bars represent the reported range at that individual ownership step, not an estimated percentage of the advisory firm. Indirect relationships may refer to intermediate entities rather than directly to Canso Investment Counsel Ltd...

Reported ownership and control details

Form ADV · Filing date 2026-09-25 · Schedules A and B

33 entries
#Owner / person & roleInterest in entityReported interestControl personTitle / status acquiredSource
1GRIP ASSET MANAGEMENT LIMITEDSHAREHOLDER (CLASS A)Foreign entityCANSO INVESTMENT COUNSEL LTD.50% to less than 75%Code DYesSHAREHOLDER (CLASS A)07/2010Schedule APDF page 25
2GRIP INVESTMENTS LIMITEDSHAREHOLDER (CLASS A AND CLASS B)Foreign entityCANSO INVESTMENT COUNSEL LTD.10% to less than 25%Code BYesSHAREHOLDER (CLASS A AND CLASS B)06/1997Schedule APDF page 25
3Gail Roberta MudieSHAREHOLDER (CLASS A AND CLASS B)IndividualCANSO INVESTMENT COUNSEL LTD.10% to less than 25%Code BNoSHAREHOLDER (CLASS A AND CLASS B)02/1999Schedule APDF page 25
4Heather Elizabeth Mason-WoodSHAREHOLDER (CLASS A AND CLASS B), CHIEF EXECUTIVE OFFICER (SINCE 09/2025)IndividualCANSO INVESTMENT COUNSEL LTD.10% to less than 25%Code BYesSHAREHOLDER (CLASS A AND CLASS B), CHIEF EXECUTIVE OFFICER (SINCE 09/2025)06/2004Schedule APDF page 25
5Vivek VermaSHAREHOLDER (CLASS A AND CLASS B)IndividualCANSO INVESTMENT COUNSEL LTD.10% to less than 25%Code BNoSHAREHOLDER (CLASS A AND CLASS B)05/2008Schedule APDF page 25
6Brian Richard Usher-JonesSHAREHOLDER (CLASS B)IndividualCANSO INVESTMENT COUNSEL LTD.10% to less than 25%Code BNoSHAREHOLDER (CLASS B)01/2011Schedule APDF page 25
7Joseph Patrick MorinSHAREHOLDER (CLASS B)IndividualCANSO INVESTMENT COUNSEL LTD.5% to less than 10%Code ANoSHAREHOLDER (CLASS B)01/2011Schedule APDF page 25
8Timothy John HicksSHAREHOLDER (CLASS B)IndividualCANSO INVESTMENT COUNSEL LTD.5% to less than 10%Code ANoSHAREHOLDER (CLASS B)09/2011Schedule APDF page 25
9Moon Jong LeeSHAREHOLDER (CLASS B AND CLASS C)IndividualCANSO INVESTMENT COUNSEL LTD.5% to less than 10%Code ANoSHAREHOLDER (CLASS B AND CLASS C)04/2017Schedule APDF page 25
10Joseph Timothy Patrick McCalmontSHAREHOLDER (CLASS B AND CLASS C), PRESIDENT (SINCE 09/2025)IndividualCANSO INVESTMENT COUNSEL LTD.5% to less than 10%Code AYesSHAREHOLDER (CLASS B AND CLASS C), PRESIDENT (SINCE 09/2025)04/2017Schedule APDF page 25
11JEFFREY STEPHEN CARTERSHAREHOLDER (CLASS B AND CLASS C), CHIEF RISK OFFICER (SINCE 12/2024)IndividualCANSO INVESTMENT COUNSEL LTD.5% to less than 10%Code AYesSHAREHOLDER (CLASS B AND CLASS C), CHIEF RISK OFFICER (SINCE 12/2024)04/2017Schedule APDF page 26
12Jason Sean BellSHAREHOLDER (CLASS B AND CLASS C)IndividualCANSO INVESTMENT COUNSEL LTD.5% to less than 10%Code ANoSHAREHOLDER (CLASS B AND CLASS C)06/2017Schedule APDF page 26
13Nicolas Israel DesjardinsSHAREHOLDER (CLASS B AND CLASS C)IndividualCANSO INVESTMENT COUNSEL LTD.5% to less than 10%Code ANoSHAREHOLDER (CLASS B AND CLASS C)04/2018Schedule APDF page 26
14Antonietta BizzottoSHAREHOLDER (CLASS B AND CLASS C), CHIEF LEGAL OFFICER (SINCE 09/2025)IndividualCANSO INVESTMENT COUNSEL LTD.Less than 5%Code NAYesSHAREHOLDER (CLASS B AND CLASS C), CHIEF LEGAL OFFICER (SINCE 09/2025)04/2018Schedule APDF page 26
15Jeffrey Tse Fai TangSHAREHOLDER (CLASS B AND CLASS C), CHIEF COMPLIANCE OFFICER (SINCE 09/2024)IndividualCANSO INVESTMENT COUNSEL LTD.Less than 5%Code NAYesSHAREHOLDER (CLASS B AND CLASS C), CHIEF COMPLIANCE OFFICER (SINCE 09/2024)05/2019Schedule APDF page 26
16Jason Gerald DavisSHAREHOLDER (CLASS B AND CLASS C)IndividualCANSO INVESTMENT COUNSEL LTD.5% to less than 10%Code ANoSHAREHOLDER (CLASS B AND CLASS C)12/2020Schedule APDF page 26
17John Paul CarswellEXECUTIVE CHAIRIndividualCANSO INVESTMENT COUNSEL LTD.Less than 5%Code NAYesEXECUTIVE CHAIR02/2023Schedule APDF page 26
18Shirley Lynn SumsionCHIEF FINANCIAL OFFICER AND DIRECT SHAREHOLDERIndividualCANSO INVESTMENT COUNSEL LTD.Less than 5%Code NAYesCHIEF FINANCIAL OFFICER AND DIRECT SHAREHOLDER12/2022Schedule APDF page 26
19JOHN WILLIAM LAINGSHAREHOLDER (CLASS B AND CLASS C)IndividualCANSO INVESTMENT COUNSEL LTD.5% to less than 10%Code ANoSHAREHOLDER (CLASS B AND CLASS C)03/2015Schedule APDF page 26
20GRIP INVESTMENTS LIMITEDSHAREHOLDER (CLASS A) - VOTING CLASSForeign entityGRIP ASSET MANAGEMENT LIMITED75% or moreCode EYesSHAREHOLDER (CLASS A) - VOTING CLASS07/2010Schedule BPDF page 26
21CARSWELL FAMILY TRUSTSHAREHOLDER (CLASS B) - SUBORDINATED VOTING CLASSForeign entityGRIP ASSET MANAGEMENT LIMITEDPercentage not specifiedCode FYesSHAREHOLDER (CLASS B) - SUBORDINATED VOTING CLASS07/2010Schedule BPDF page 26
22CARSWELL FAMILY TRUSTSHAREHOLDER (CLASS C) - SUBORDINATED VOTING CLASSForeign entityGRIP INVESTMENTS LIMITEDPercentage not specifiedCode FYesSHAREHOLDER (CLASS C) - SUBORDINATED VOTING CLASS07/2010Schedule BPDF page 26
23Kim Maria CarswellSHAREHOLDER (CLASS A) - NON-VOTING CLASSIndividualGRIP INVESTMENTS LIMITEDPercentage not specifiedCode FNoSHAREHOLDER (CLASS A) - NON-VOTING CLASS07/2010Schedule BPDF page 26
24John Paul CarswellSHAREHOLDER (CLASS B) - VOTING CLASSIndividualGRIP INVESTMENTS LIMITED75% or moreCode EYesSHAREHOLDER (CLASS B) - VOTING CLASS07/2010Schedule BPDF page 26
25John Paul CarswellPRESIDENTIndividualGRIP ASSET MANAGEMENT LIMITEDPercentage not specifiedCode FYesPRESIDENT07/2010Schedule BPDF page 26
26Kim Maria CarswellVICE-PRESIDENT AND SECRETARYIndividualGRIP ASSET MANAGEMENT LIMITEDPercentage not specifiedCode FYesVICE-PRESIDENT AND SECRETARY07/2010Schedule BPDF page 26
27Natalie Catherine CarswellVICE-PRESIDENTIndividualGRIP ASSET MANAGEMENT LIMITEDPercentage not specifiedCode FYesVICE-PRESIDENT07/2010Schedule BPDF page 27
28John Paul CarswellPRESIDENTIndividualGRIP INVESTMENTS LIMITEDPercentage not specifiedCode FYesPRESIDENT07/2010Schedule BPDF page 27
29Kim Maria CarswellVICE-PRESIDENT AND SECRETARYIndividualGRIP INVESTMENTS LIMITEDPercentage not specifiedCode FYesVICE-PRESIDENT AND SECRETARY07/2010Schedule BPDF page 27
30Natalie Catherine CarswellVICE-PRESIDENTIndividualGRIP INVESTMENTS LIMITEDPercentage not specifiedCode FYesVICE-PRESIDENT07/2010Schedule BPDF page 27
31Brenda Ellen BurnsTRUSTEEIndividualCARSWELL FAMILY TRUSTPercentage not specifiedCode FYesTRUSTEE07/2010Schedule BPDF page 27
32Kim Maria CarswellTRUSTEEIndividualCARSWELL FAMILY TRUSTPercentage not specifiedCode FYesTRUSTEE07/2010Schedule BPDF page 27
33John Paul CarswellTRUSTEEIndividualCARSWELL FAMILY TRUSTPercentage not specifiedCode FYesTRUSTEE07/2010Schedule BPDF page 27

Less than 5% may include zero. Code F identifies a role without specifying a percentage. Reported interests may overlap and may not include every owner. Total indirect ownership is not calculated.

Compliance & Disclosures

Filing dated 9/25/2026 11:09:46 AM

Responses were selected by the RIA in its filing. Questions are shortened for readability; “you” refers to the reporting firm, and some questions also cover advisory affiliates.

RIA or supervised-person involvementThe RIA reported that none of the events below involve the firm or its supervised persons.RIA responseNo
AFelonies2 No

In the past ten years, have you or any advisory affiliate:

  • A1Been convicted of or pleaded guilty or no contest to a felony?No
  • A2Been charged with a felony?No
BMisdemeanors2 No

In the past ten years, have you or any advisory affiliate:

  • B1Been convicted of or pleaded guilty or no contest to a misdemeanor involving investments, an investment-related business, fraud, false statements or omissions, wrongful taking of property, bribery, perjury, forgery, counterfeiting, or extortion?No
  • B2Been charged with a misdemeanor of the kind listed above?No
CSEC or CFTC actions5 No

Has the SEC or CFTC ever:

  • C1Found you or an advisory affiliate made a false statement or omission?No
  • C2Found you or an advisory affiliate violated SEC or CFTC regulations or statutes?No
  • C3Found you or an advisory affiliate caused an investment-related business to have its authorization to do business denied, suspended, revoked, or restricted?No
  • C4Entered an order against you or an advisory affiliate in connection with investment-related activity?No
  • C5Imposed a civil money penalty on you or an advisory affiliate, or ordered you or an advisory affiliate to cease and desist from any activity?No
DOther regulatory actions5 No

Has any other federal regulatory agency, state regulatory agency, or foreign financial regulatory authority ever:

  • D1Found you or an advisory affiliate made a false statement or omission, or was dishonest, unfair, or unethical?No
  • D2Found you or an advisory affiliate violated investment-related regulations or statutes?No
  • D3Found you or an advisory affiliate caused an investment-related business to have its authorization to do business denied, suspended, revoked, or restricted?No
  • D4In the past ten years, entered an order against you or an advisory affiliate in connection with investment-related activity?No
  • D5Denied, suspended, or revoked your or an advisory affiliate’s registration or license, or otherwise prevented association with an investment-related business or restricted activities?No
ESelf-regulatory organization actions4 No

Has a self-regulatory organization or commodities exchange ever:

  • E1Found you or an advisory affiliate made a false statement or omission?No
  • E2Found you or an advisory affiliate violated its rules, other than a violation designated as a minor rule violation under an SEC-approved plan?No
  • E3Found you or an advisory affiliate caused an investment-related business to have its authorization to do business denied, suspended, revoked, or restricted?No
  • E4Disciplined you or an advisory affiliate by expulsion, suspension, barring association with other members, or otherwise restricting activities?No
FProfessional authorizations1 No
  • FHas an authorization to act as an attorney, accountant, or federal contractor granted to you or an advisory affiliate ever been revoked or suspended?No
GPending regulatory proceedings1 No
  • GAre you or any advisory affiliate now the subject of a regulatory proceeding that could result in a “Yes” answer to any part of C, D, or E?No
HCivil judicial actions and proceedings4 No

(1) Court actions

Has a domestic or foreign court:

  • H(1)(a)In the past ten years, enjoined you or an advisory affiliate in connection with investment-related activity?No
  • H(1)(b)Found that you or an advisory affiliate violated investment-related statutes or regulations?No
  • H(1)(c)Dismissed, pursuant to a settlement agreement, an investment-related civil action brought against you or an advisory affiliate by a state or foreign financial regulatory authority?No

(2) Pending civil proceedings

  • H(2)Are you or any advisory affiliate now the subject of a civil proceeding that could result in a “Yes” answer to any part of H(1)?No

* Metrics are based on the latest available data, including Form ADV filings, brochures, and relationship summaries pulled from the SEC IAPD, and may be subject to change. Learn what is included in the Rialytix data. Please refer to the firm's official disclosures for the most accurate information using their CRD number. This is not investment advice.