# EDGAR Filing Document

**Accession Number:** 0001434845
**File Stem:** 0001434845-23-000001
**Filing Date:** 2023-1
**Character Count:** 16845
**Document Hash:** 41ab3c70fdcc7114657443b02bb0e1d5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001434845-23-000001.hdr.sgml**: 20230123

**ACCESSION NUMBER**: 0001434845-23-000001

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230123

**DATE AS OF CHANGE**: 20230120

**EFFECTIVENESS DATE**: 20230123

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Cardinal Capital Management
- **CENTRAL INDEX KEY:** 0001434845
- **IRS NUMBER:** 561760706
- **STATE OF INCORPORATION:** NC
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-13067
- **FILM NUMBER:** 23542324

**BUSINESS ADDRESS:**
- **STREET 1:** 2626 GLENWOOD AVENUE
- **STREET 2:** SUITE 380
- **CITY:** RALEIGH
- **STATE:** NC
- **ZIP:** 27608
- **BUSINESS PHONE:** 919-532-7500

**MAIL ADDRESS:**
- **STREET 1:** 2626 GLENWOOD AVENUE
- **STREET 2:** SUITE 380
- **CITY:** RALEIGH
- **STATE:** NC
- **ZIP:** 27608

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2022

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** Cardinal Capital Management<br>**Address:** 2626 GLENWOOD AVENUE<br>SUITE 380<br>RALEIGH, NC 27608

**Form 13F File Number:** 028-13067

**CRD Number (if applicable):** 000108076

**SEC File Number (if applicable):** 801-40703

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** J. Wesley Andrews<br>**Title:** Vice President<br>**Phone:** 919-532-7500

**Signature, Place, and Date of Signing:**

J. Wesley Andrews  Raleigh, NC  01-20-2023<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 138

**Form 13F Information Table Value Total:** $469794009

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| 3M Company | COM | 88579Y101 |  | 4389068 | 36600 | SH |  | SOLE |  | 36600 | 0 | 0 |
| ABB Ltd Adr | ADR | 000375204 |  | 2650934 | 87030 | SH |  | SOLE |  | 87030 | 0 | 0 |
| Agilent Technologies | COM | 00846U101 |  | 8982592 | 60024 | SH |  | SOLE |  | 60024 | 0 | 0 |
| ALARM.COM HOLDINGS INC | COM | 011642105 |  | 536759 | 10848 | SH |  | SOLE |  | 10848 | 0 | 0 |
| Alcon Inc. | COM | H01301128 |  | 995826 | 14527 | SH |  | SOLE |  | 14527 | 0 | 0 |
| Alphabet Inc. Class A | COM | 02079K305 |  | 5637985 | 63901 | SH |  | SOLE |  | 63901 | 0 | 0 |
| Alphabet Inc. Class C | COM | 02079K107 |  | 1268307 | 14294 | SH |  | SOLE |  | 14294 | 0 | 0 |
| Amcor Plc | COM | G0250X107 |  | 147720 | 12403 | SH |  | SOLE |  | 12403 | 0 | 0 |
| Apple Computer | COM | 037833100 |  | 9662634 | 74368 | SH |  | SOLE |  | 74368 | 0 | 0 |
| Argan Inc | COM | 04010E109 |  | 792994 | 21502 | SH |  | SOLE |  | 21502 | 0 | 0 |
| Automatic Data Processing | COM | 053015103 |  | 9673352 | 40498 | SH |  | SOLE |  | 40498 | 0 | 0 |
| Badger Meter Inc | COM | 056525108 |  | 2145601 | 19679 | SH |  | SOLE |  | 19679 | 0 | 0 |
| Balchem Corp | COM | 057665200 |  | 2318014 | 18983 | SH |  | SOLE |  | 18983 | 0 | 0 |
| Banco Santander New Adrf | ADR | 05965X109 |  | 796641 | 50293 | SH |  | SOLE |  | 50293 | 0 | 0 |
| Bank of New York Mellon | COM | 064058100 |  | 5743941 | 126185 | SH |  | SOLE |  | 126185 | 0 | 0 |
| Bank of Nova Scotia | COM | 064149107 |  | 2365734 | 48300 | SH |  | SOLE |  | 48300 | 0 | 0 |
| Bank OZK | COM | 06417N103 |  | 1121920 | 28006 | SH |  | SOLE |  | 28006 | 0 | 0 |
| Becton Dickinson  Co | COM | 075887109 |  | 5737517 | 22562 | SH |  | SOLE |  | 22562 | 0 | 0 |
| Biogen Idec Inc | COM | 09062X103 |  | 7544132 | 27243 | SH |  | SOLE |  | 27243 | 0 | 0 |
| Boston Beer Company Inc. | COM | 100557107 |  | 822811 | 2497 | SH |  | SOLE |  | 2497 | 0 | 0 |
| C A C I Inc Cl A | COM | 127190304 |  | 1900330 | 6322 | SH |  | SOLE |  | 6322 | 0 | 0 |
| Caesarstone Ltd | COM | M20598104 |  | 547966 | 95966 | SH |  | SOLE |  | 95966 | 0 | 0 |
| Canon ADR | ADR | 138006309 |  | 965410 | 44530 | SH |  | SOLE |  | 44530 | 0 | 0 |
| Charles River Labs Hldg | COM | 159864107 |  | 1758235 | 8069 | SH |  | SOLE |  | 8069 | 0 | 0 |
| Check Point Software | COM | M22465104 |  | 801873 | 6356 | SH |  | SOLE |  | 6356 | 0 | 0 |
| Cirrus Logic Inc | COM | 172755100 |  | 1179167 | 15832 | SH |  | SOLE |  | 15832 | 0 | 0 |
| Cisco Systems Inc | COM | 17275R102 |  | 6248272 | 131156 | SH |  | SOLE |  | 131156 | 0 | 0 |
| Coca-Cola | COM | 191216100 |  | 4815913 | 75710 | SH |  | SOLE |  | 75710 | 0 | 0 |
| ConocoPhillips | COM | 20825C104 |  | 8541548 | 72386 | SH |  | SOLE |  | 72386 | 0 | 0 |
| Consensus Cloud Solution | COM | 20848V105 |  | 234501 | 4362 | SH |  | SOLE |  | 4362 | 0 | 0 |
| Corteva Inc | COM | 22052L104 |  | 1407487 | 23945 | SH |  | SOLE |  | 23945 | 0 | 0 |
| Costco Wholesale Corp Del | COM | 22160K105 |  | 9813173 | 21497 | SH |  | SOLE |  | 21497 | 0 | 0 |
| Cullen Frost Bankers | COM | 229899109 |  | 1293548 | 9675 | SH |  | SOLE |  | 9675 | 0 | 0 |
| Cummins Inc | COM | 231021106 |  | 4682981 | 19328 | SH |  | SOLE |  | 19328 | 0 | 0 |
| Curtiss Wright Corp | COM | 231561101 |  | 1618300 | 9691 | SH |  | SOLE |  | 9691 | 0 | 0 |
| Deere  Company | COM | 244199105 |  | 11161156 | 26031 | SH |  | SOLE |  | 26031 | 0 | 0 |
| Dolby Laboratories Inc | COM | 25659T107 |  | 2029436 | 28770 | SH |  | SOLE |  | 28770 | 0 | 0 |
| Dollar Tree Inc. | COM | 256746108 |  | 4521837 | 31970 | SH |  | SOLE |  | 31970 | 0 | 0 |
| Dow Inc. | COM | 260557103 |  | 1213139 | 24075 | SH |  | SOLE |  | 24075 | 0 | 0 |
| DuPont de Nemours Inc | COM | 26614N102 |  | 1742035 | 25383 | SH |  | SOLE |  | 25383 | 0 | 0 |
| Ecolab Inc. | COM | 278865100 |  | 5380043 | 36961 | SH |  | SOLE |  | 36961 | 0 | 0 |
| Elbit Systems Ltd | COM | M3760D101 |  | 2151057 | 13113 | SH |  | SOLE |  | 13113 | 0 | 0 |
| Eli Lilly | COM | 532457108 |  | 14129061 | 38621 | SH |  | SOLE |  | 38621 | 0 | 0 |
| Emerson Electric | COM | 291011104 |  | 7335238 | 76361 | SH |  | SOLE |  | 76361 | 0 | 0 |
| Exxon-Mobil | COM | 30231G102 |  | 12066269 | 109395 | SH |  | SOLE |  | 109395 | 0 | 0 |
| F5 NETWORKS INC | COM | 315616102 |  | 2193263 | 15283 | SH |  | SOLE |  | 15283 | 0 | 0 |
| FedEX Corp | COM | 31428X106 |  | 2454764 | 14173 | SH |  | SOLE |  | 14173 | 0 | 0 |
| FNB Corporation | COM | 302520101 |  | 1217709 | 93311 | SH |  | SOLE |  | 93311 | 0 | 0 |
| Forward Air Corporation | COM | 349853101 |  | 2769411 | 26403 | SH |  | SOLE |  | 26403 | 0 | 0 |
| Gartner Inc. | COM | 366651107 |  | 1051782 | 3129 | SH |  | SOLE |  | 3129 | 0 | 0 |
| General Mills | COM | 370334104 |  | 8701869 | 103779 | SH |  | SOLE |  | 103779 | 0 | 0 |
| Gentex Corp. | COM | 371901109 |  | 1112507 | 40796 | SH |  | SOLE |  | 40796 | 0 | 0 |
| GlaxoSmithKline Plc  ADR | ADR | 37733W204 |  | 1114781 | 31724 | SH |  | SOLE |  | 31724 | 0 | 0 |
| Graco Incorporated | COM | 384109104 |  | 1661591 | 24704 | SH |  | SOLE |  | 24704 | 0 | 0 |
| Grifols | COM | 398438408 |  | 606943 | 71405 | SH |  | SOLE |  | 71405 | 0 | 0 |
| Haemonetics Corp | COM | 405024100 |  | 847847 | 10780 | SH |  | SOLE |  | 10780 | 0 | 0 |
| Haleon PLC | ADR | 405552100 |  | 314688 | 39336 | SH |  | SOLE |  | 39336 | 0 | 0 |
| Hasbro Inc | COM | 418056107 |  | 3878955 | 63579 | SH |  | SOLE |  | 63579 | 0 | 0 |
| Heartland Express Inc | COM | 422347104 |  | 899308 | 58625 | SH |  | SOLE |  | 58625 | 0 | 0 |
| Henry Schein Inc | COM | 806407102 |  | 617076 | 7726 | SH |  | SOLE |  | 7726 | 0 | 0 |
| Hub Group Inc-Class A | COM | 443320106 |  | 1222636 | 15381 | SH |  | SOLE |  | 15381 | 0 | 0 |
| Huntington Bancshares | COM | 446150104 |  | 1864006 | 132199 | SH |  | SOLE |  | 132199 | 0 | 0 |
| Idexx Laboratories | COM | 45168D104 |  | 5508684 | 13503 | SH |  | SOLE |  | 13503 | 0 | 0 |
| Illinois Tool Works Inc | COM | 452308109 |  | 8194279 | 37196 | SH |  | SOLE |  | 37196 | 0 | 0 |
| Insteel Industries Inc | COM | 45774W108 |  | 616310 | 22395 | SH |  | SOLE |  | 22395 | 0 | 0 |
| Integra Lifesciences Holdings Corp | COM | 457985208 |  | 1153696 | 20576 | SH |  | SOLE |  | 20576 | 0 | 0 |
| Intel | COM | 458140100 |  | 4913971 | 185924 | SH |  | SOLE |  | 185924 | 0 | 0 |
| Internat'l Business Mach | COM | 459200101 |  | 5460615 | 38758 | SH |  | SOLE |  | 38758 | 0 | 0 |
| J. P. Morgan Chase  Co. Inc. | COM | 46625H100 |  | 7231745 | 53928 | SH |  | SOLE |  | 53928 | 0 | 0 |
| Jack Henry  Assoc Inc | COM | 426281101 |  | 2243657 | 12780 | SH |  | SOLE |  | 12780 | 0 | 0 |
| Jazz Pharmaceuticals PLC | COM | G50871105 |  | 1543714 | 9690 | SH |  | SOLE |  | 9690 | 0 | 0 |
| Johnson  Johnson | COM | 478160104 |  | 17411115 | 98563 | SH |  | SOLE |  | 98563 | 0 | 0 |
| Keysight Technologies | COM | 49338L103 |  | 6236186 | 36454 | SH |  | SOLE |  | 36454 | 0 | 0 |
| KIMBALL ELECTRONICS INC | COM | 49428J109 |  | 976317 | 43219 | SH |  | SOLE |  | 43219 | 0 | 0 |
| Laboratory CP Amer Hldgs | COM | 50540R409 |  | 6916283 | 29371 | SH |  | SOLE |  | 29371 | 0 | 0 |
| Landstar System Inc | COM | 515098101 |  | 2757083 | 16925 | SH |  | SOLE |  | 16925 | 0 | 0 |
| La-Z-Boy Inc | COM | 505336107 |  | 652127 | 28577 | SH |  | SOLE |  | 28577 | 0 | 0 |
| Lindsay Corporation | COM | 535555106 |  | 1509945 | 9272 | SH |  | SOLE |  | 9272 | 0 | 0 |
| Lowe's | COM | 548661107 |  | 8801626 | 44176 | SH |  | SOLE |  | 44176 | 0 | 0 |
| Makita Corp. ADR | ADR | 560877300 |  | 1945263 | 83202 | SH |  | SOLE |  | 83202 | 0 | 0 |
| Masimo Corp | COM | 574795100 |  | 1585432 | 10716 | SH |  | SOLE |  | 10716 | 0 | 0 |
| McCormick  Company | COM | 579780206 |  | 6459783 | 77932 | SH |  | SOLE |  | 77932 | 0 | 0 |
| Medtronic Inc. | COM | G5960L103 |  | 4389392 | 56477 | SH |  | SOLE |  | 56477 | 0 | 0 |
| Merck  Co. Inc. | COM | 58933Y105 |  | 7627372 | 68746 | SH |  | SOLE |  | 68746 | 0 | 0 |
| Microsoft | COM | 594918104 |  | 12876176 | 53691 | SH |  | SOLE |  | 53691 | 0 | 0 |
| Mohawk Industries Inc | COM | 608190104 |  | 552908 | 5409 | SH |  | SOLE |  | 5409 | 0 | 0 |
| Monro Inc. | COM | 610236101 |  | 853286 | 18878 | SH |  | SOLE |  | 18878 | 0 | 0 |
| Morningstar Inc | COM | 617700109 |  | 2281776 | 10535 | SH |  | SOLE |  | 10535 | 0 | 0 |
| National Fuel Gas Co | COM | 636180101 |  | 4450243 | 70304 | SH |  | SOLE |  | 70304 | 0 | 0 |
| National Research Corp | COM | 637372202 |  | 531376 | 14246 | SH |  | SOLE |  | 14246 | 0 | 0 |
| NETGEAR INC | COM | 64111Q104 |  | 593356 | 32764 | SH |  | SOLE |  | 32764 | 0 | 0 |
| Novartis ADR | ADR | 66987V109 |  | 3768781 | 41543 | SH |  | SOLE |  | 41543 | 0 | 0 |
| Novo Nordisk A S ADR | ADR | 670100205 |  | 4715652 | 34843 | SH |  | SOLE |  | 34843 | 0 | 0 |
| NXP Semiconductors NV | COM | N6596X109 |  | 1420690 | 8990 | SH |  | SOLE |  | 8990 | 0 | 0 |
| Oil-Dri Corp Of America | COM | 677864100 |  | 1459829 | 43525 | SH |  | SOLE |  | 43525 | 0 | 0 |
| ORGANON  CO | COM | 68622V106 |  | 296589 | 10619 | SH |  | SOLE |  | 10619 | 0 | 0 |
| Pepsico | COM | 713448108 |  | 5285715 | 29258 | SH |  | SOLE |  | 29258 | 0 | 0 |
| Pfizer Inc | COM | 717081103 |  | 4420270 | 86266 | SH |  | SOLE |  | 86266 | 0 | 0 |
| Phillips | COM | 718546104 |  | 2260514 | 21719 | SH |  | SOLE |  | 21719 | 0 | 0 |
| Preformed Line Prods Co | COM | 740444104 |  | 538387 | 6464 | SH |  | SOLE |  | 6464 | 0 | 0 |
| Procter  Gamble | COM | 742718109 |  | 7234717 | 47735 | SH |  | SOLE |  | 47735 | 0 | 0 |
| Qualcomm Inc | COM | 747525103 |  | 6351918 | 57776 | SH |  | SOLE |  | 57776 | 0 | 0 |
| Raymond James Fincl Inc | COM | 754730109 |  | 2975345 | 27846 | SH |  | SOLE |  | 27846 | 0 | 0 |
| REGENERON PHARMACEUTICALS | COM | 75886F107 |  | 5350570 | 7416 | SH |  | SOLE |  | 7416 | 0 | 0 |
| Robert Half Intl | COM | 770323103 |  | 1992155 | 26983 | SH |  | SOLE |  | 26983 | 0 | 0 |
| Royal Bank Canada PV USD1 | COM | 780087102 |  | 3435115 | 36536 | SH |  | SOLE |  | 36536 | 0 | 0 |
| Sanofi Aventis Spon ADR | ADR | 80105N105 |  | 2863811 | 59133 | SH |  | SOLE |  | 59133 | 0 | 0 |
| SAP AG ADR | ADR | 803054204 |  | 2687274 | 26042 | SH |  | SOLE |  | 26042 | 0 | 0 |
| Shell PLC | ADR | 780259305 |  | 3220124 | 56543 | SH |  | SOLE |  | 56543 | 0 | 0 |
| Siemens | ADR | 826197501 |  | 1821215 | 26475 | SH |  | SOLE |  | 26475 | 0 | 0 |
| Silicom Limited | COM | M84116108 |  | 567761 | 13470 | SH |  | SOLE |  | 13470 | 0 | 0 |
| Snap On Inc | COM | 833034101 |  | 2037674 | 8918 | SH |  | SOLE |  | 8918 | 0 | 0 |
| Spire Inc. | COM | 84857L101 |  | 1606779 | 23334 | SH |  | SOLE |  | 23334 | 0 | 0 |
| Starbucks Corp. | COM | 855244109 |  | 7000544 | 70570 | SH |  | SOLE |  | 70570 | 0 | 0 |
| State Street Corp | COM | 857477103 |  | 3689307 | 47561 | SH |  | SOLE |  | 47561 | 0 | 0 |
| Synaptics Inc | COM | 87157D109 |  | 1482973 | 15584 | SH |  | SOLE |  | 15584 | 0 | 0 |
| T. Rowe Group Inc. | COM | 74144T108 |  | 5209360 | 47766 | SH |  | SOLE |  | 47766 | 0 | 0 |
| Teledyne Technologies | COM | 879360105 |  | 2391062 | 5979 | SH |  | SOLE |  | 5979 | 0 | 0 |
| The Middleby Corp | COM | 596278101 |  | 708063 | 5288 | SH |  | SOLE |  | 5288 | 0 | 0 |
| Tompkins Financial Cp | COM | 890110109 |  | 905824 | 11676 | SH |  | SOLE |  | 11676 | 0 | 0 |
| Toronto Dominion Bank | COM | 891160509 |  | 2434652 | 37595 | SH |  | SOLE |  | 37595 | 0 | 0 |
| TotalEnergies SE-Sponsor ADR | ADR | 89151E109 |  | 2649326 | 42676 | SH |  | SOLE |  | 42676 | 0 | 0 |
| Toyota Motor Corp. ADR | ADR | 892331307 |  | 2572348 | 18834 | SH |  | SOLE |  | 18834 | 0 | 0 |
| Truist Financial Corp | COM | 89832Q109 |  | 4365867 | 101461 | SH |  | SOLE |  | 101461 | 0 | 0 |
| Unilever PLC NEW ADR | ADR | 904767704 |  | 1702031 | 33804 | SH |  | SOLE |  | 33804 | 0 | 0 |
| Union Bankshares Inc | COM | 905400107 |  | 914629 | 39070 | SH |  | SOLE |  | 39070 | 0 | 0 |
| United Parcel Service Inc Class B | COM | 911312106 |  | 3269930 | 18810 | SH |  | SOLE |  | 18810 | 0 | 0 |
| United Therapeutics Corp. | COM | 91307C102 |  | 2221383 | 7988 | SH |  | SOLE |  | 7988 | 0 | 0 |
| Universal Display Corp | COM | 91347P105 |  | 753255 | 6972 | SH |  | SOLE |  | 6972 | 0 | 0 |
| US Lime  Minerals Inc. | COM | 911922102 |  | 1809188 | 12853 | SH |  | SOLE |  | 12853 | 0 | 0 |
| Utah Medical Products | COM | 917488108 |  | 1119502 | 11136 | SH |  | SOLE |  | 11136 | 0 | 0 |
| Vmware Inc Cl A | COM | 928563402 |  | 2864482 | 23334 | SH |  | SOLE |  | 23334 | 0 | 0 |
| Walgreens Boots Alliance | COM | 931427108 |  | 4237409 | 113421 | SH |  | SOLE |  | 113421 | 0 | 0 |
| Wal-Mart Stores Inc. | COM | 931142103 |  | 6780823 | 47823 | SH |  | SOLE |  | 47823 | 0 | 0 |
| Webster Finl Cp PV 0.01 | COM | 947890109 |  | 1743201 | 36823 | SH |  | SOLE |  | 36823 | 0 | 0 |
| WILEY (JOHN)  SONS-CLASS A | COM | 968223206 |  | 1015441 | 25348 | SH |  | SOLE |  | 25348 | 0 | 0 |
| Worthington Industries | COM | 981811102 |  | 596570 | 12001 | SH |  | SOLE |  | 12001 | 0 | 0 |
| Ziff Davis Inc. | COM | 48123V102 |  | 1370645 | 17328 | SH |  | SOLE |  | 17328 | 0 | 0 |

---