Independent
Investment Management
for Individual Investors
Independent
Investment Management
for Individual Investors
Independent
Investment Management
for Individual Investors
Founded in 2000, Linde Equity is a leading western Canadian investment manager dedicated to maximizing risk-adjusted returns for its clients through a single high-conviction best ideas portfolio.
Founded in 2000, Linde Equity is a leading western Canadian investment manager dedicated to maximizing risk-adjusted returns for its clients through a single high-conviction best ideas portfolio.
Our Services
Our Services
Our Services
For over 20 years, Linde Equity has been managing the assets of individuals and families through segregated accounts. The Linde Equity Fund was launched in 2016 allowing more individuals to participate in the investment ideas of Linde Equity.
For over 20 years, Linde Equity has been managing the assets of individuals and families through segregated accounts. The Linde Equity Fund was launched in 2016 allowing more individuals to participate in the investment ideas of Linde Equity.
During its twenty years of publishing from 2000 to 2020, the Linde Equity Report earned media recognition for stock selection and performance
Linde Equity Fund
Linde Equity Fund
Linde Equity Fund
One fund, no filler
Track record capitalizing on bear markets
Independent, not bank-owned
Specialized approach
Transparent communication
Low Fees
Account Types and Minimum Household Account Size
Account Types and Minimum Household Account Size
Account Types and
Minimum Investment
Account Types
Minimum Household Account Size
Custodian
Account Types
Minimum Household Account Size
Custodian
Account Types
Minimum Household Account Size
Custodian
Contact Us
Our Fund Managers
Our Fund Managers
Our Fund Managers
Teal Linde
Teal Linde
Teal Linde
Founder & Chief Investment Officer
Founder & Chief Investment Officer
Inspired by his investment returns achieved in the 1990s, Teal founded Linde Equity in 2000 to provide independent research and advice for individual investors. Prior to founding Linde Equity, Teal worked as an equity analyst at Vancouver-based Global Securities. He holds the Chartered Financial Analyst (CFA) designation and appears regularly as a guest on BNN Bloomberg Market Call. Teal received his Bachelor of Commerce from the University of British Columbia.
Inspired by his investment returns achieved in the 1990s, Teal founded Linde Equity in 2000 to provide independent research and advice for individual investors. Prior to founding Linde Equity, Teal worked as an equity analyst at Vancouver-based Global Securities. He holds the Chartered Financial Analyst (CFA) designation and appears regularly as a guest on BNN Bloomberg Market Call. Teal received his Bachelor of Commerce from the University of British Columbia.
President
President
As President of Linde Equity, Emily Davies co-manages the Linde Equity Fund. She previously worked in equity research and investment banking at RBC Capital Markets. Emily holds the CFA designation and is a recipient of the BC Business 30 Under 30 Award. Her community involvement includes serving as a board member of the Cause We Care Foundation. Emily earned her Bachelor of Business Administration in Finance from Simon Fraser University’s Beedie School of Business.
As President of Linde Equity, Emily Davies co-manages the Linde Equity Fund. She previously worked in equity research and investment banking at RBC Capital Markets. Emily holds the CFA designation and is a recipient of the BC Business 30 Under 30 Award. Her community involvement includes serving as a board member of the Cause We Care Foundation. Emily earned her Bachelor of Business Administration in Finance from Simon Fraser University’s Beedie School of Business.
Our Investment Approach
Our Investment Approach
Our Investment Approach
A wide net is cast across the stock universe to seek out the most attractive securities on a risk adjusted basis. Canadian, US and overseas markets are all considered.
Companies with superior business models, high returns on invested capital, and large market opportunities to sustain above average EPS growth are prioritized. Such companies offer significant share price appreciation potential over the long term. These types of companies are widely held within the Linde Equity Fund.
A wide net is cast across the stock universe to seek out the most attractive securities on a risk adjusted basis. Canadian, US and overseas markets are all considered.
Companies with superior business models, high returns on invested capital, and large market opportunities to sustain above average EPS growth are prioritized. Such companies offer significant share price appreciation potential over the long term. These types of companies are widely held within the Linde Equity Fund.
A wide net is cast across the stock universe to seek out the most attractive securities on a risk adjusted basis. Canadian, US and overseas markets are all considered.
Companies with superior business models, high returns on invested capital, and large market opportunities to sustain above average EPS growth are prioritized. Such companies offer significant share price appreciation potential over the long term. These types of companies are widely held within the Linde Equity Fund.
“The person who turns over the most stones wins!”
– Peter Lynch
“The person who turns over the most stones wins!”
– Peter Lynch
“The person who turns over the most stones wins!”
– Peter Lynch
Concentrated Approach
Concentrated Approach
The Linde Equity Fund cherry picks the most attractive securities from particular asset classes and sectors and places them in a single fund. Instead of dilution and over-diversification, the Linde Equity Fund offers investors a concentrated portfolio of 30 to 40 top picks.
The Linde Equity Fund cherry picks the most attractive securities from particular asset classes and sectors and places them in a single fund. Instead of dilution and over-diversification, the Linde Equity Fund offers investors a concentrated portfolio of 30 to 40 top picks.
Companies with superior business models, high returns on invested capital, and large market opportunities to sustain EPS growth are prioritized. Such companies offer significant share price appreciation potential over the long term. These types of companies are widely held within the Linde Equity Fund.
Concentrated Approach
Our Performance
Our Performance
Our Performance
The Linde Equity Fund incurs moderate risk targeting at least a 7% annualized return after fees over the long term.
The Linde Equity Fund incurs moderate risk targeting at least a 7% annualized return after fees over the long term.
The Linde Equity Fund incurs moderate risk targeting at least a 7% annualized return after fees over the long term.
Annualized Returns as of June 30, 2025 (after fees)
Annualized Returns as of June 30, 2025 (after fees)
YTD
1 Year
2 Years
3 Years
5 Years
8 Years
Inception
(Oct 2016)
Inception
(Oct 2016)
+3.1%
+21.0%
+13.2%
+11.4%
+11.6%
+10.2%
+10.3%
Annual Returns (after fees)
Annual Returns (after fees)
2024
2024
2023
2023
2022
2022
2021
2021
2020
2020
2019
2019
2018
2018
2017
2017
+21.4%
+21.4%
+5.6%
+5.6%
-14.9%
-14.9%
+25.5%
+25.5%
+25.1%
+25.1%
+22.8%
+22.8%
-5.5%
-5.5%
+14.0%
+14.0%
YTD
1 Year
2 Years
3 Years
5 Years
8 Years
Inception
(Oct 2016)
+3.1%
+21.0%
+13.2%
+11.4%
+11.6%
+10.2%
+10.3%
Annualized Returns as of March 31, 2025 (net of fees)
2024
2023
2022
2021
+21.4%
+5.6%
-14.9%
+25.5%
Annual Returns (net of fees)
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2020
2019
2018
2017
+25.1%
+22.8%
-5.5%
+14.0%
Our Roots: the Linde Equity Report
Our Roots: the Linde Equity Report
Our Roots: the Linde Equity Report
During its twenty years of publishing from 2000 to 2020, the Linde Equity Report earned
media recognition for stock selection and performance
During its twenty years of publishing from 2000 to 2020, the Linde Equity Report earned
media recognition for stock selection and performance
During its twenty years of publishing from 2000 to 2020, the Linde Equity Report earned media recognition for stock selection and performance
The Case for Active Management
The Case for Active Management
The Case for Active Management
While passive strategies have delivered strong returns in recent years, particularly in US large-cap markets, the investment landscape is evolving. Today’s markets are more volatile and less synchronized. Higher interest rates, persistent inflation, increased volatility and shifting global growth patterns suggest that broad index exposure may not be as effective going forward. In this changing landscape, active management offers distinct advantages.
While passive strategies have delivered strong returns in recent years, particularly in US large-cap markets, the investment landscape is evolving. Today’s markets are more volatile and less synchronized. Higher interest rates, persistent inflation, increased volatility and shifting global growth patterns suggest that broad index exposure may not be as effective going forward. In this changing landscape, active management offers distinct advantages.
Agility and Responsiveness
Passive strategies track the entire market, regardless of bubbles, dislocations or panic-driven selloffs. Active managers, on the other hand, can move quickly to capitalize on mispricings and information gaps with focused research and judgment.
Concentrated Portfolios
Rather than owning every stock in the index, active managers can build concentrated portfolios based on their highest-conviction ideas. This selective approach enables greater focus on quality.
Flexibility Across Markets
Active managers have the freedom to allocate capital across sectors, regions and market capitalizations, and can avoid areas they see as overvalued or structurally challenged. Passive funds are required to mirror the index, no matter what it contains.
Thoughtful Diversification
Market indexes can be dominated by a few mega-cap stocks, leading to concentration risk. Active managers can deliver more intentional diversification.
Proactive Risk Management
Passive investors ride the market’s ups and downs without the ability to adapt. Active managers can hold cash, reduce exposure, or reposition portfolios when risks outweigh opportunities.
Agility and Responsiveness
Passive strategies track the entire market, regardless of bubbles, dislocations or panic-driven selloffs. Active managers, on the other hand, can move quickly to capitalize on mispricings and information gaps with focused research and judgment.
Concentrated Portfolios
Rather than owning every stock in the index, active managers can build concentrated portfolios based on their highest-conviction ideas. This selective approach enables greater focus on quality.
Flexibility Across Markets
Active managers have the freedom to allocate capital across sectors, regions and market capitalizations, and can avoid areas they see as overvalued or structurally challenged. Passive funds are required to mirror the index, no matter what it contains.
Thoughtful Diversification
Market indexes can be dominated by a few mega-cap stocks, leading to concentration risk. Active managers can deliver more intentional diversification.
Proactive Risk Management
Passive investors ride the market’s ups and downs without the ability to adapt. Active managers can hold cash, reduce exposure, or reposition portfolios when risks outweigh opportunities.
Agility and Responsiveness
Passive strategies track the entire market, regardless of bubbles, dislocations or panic-driven selloffs. Active managers, on the other hand, can move quickly to capitalize on mispricings and information gaps with focused research and judgment.
Concentrated Portfolios
Rather than owning every stock in the index, active managers can build concentrated portfolios based on their highest-conviction ideas. This selective approach enables greater focus on quality.
Flexibility Across Markets
Active managers have the freedom to allocate capital across sectors, regions and market capitalizations, and can avoid areas they see as overvalued or structurally challenged. Passive funds are required to mirror the index, no matter what it contains.
Thoughtful Diversification
Market indexes can be dominated by a few mega-cap stocks, leading to concentration risk. Active managers can deliver more intentional diversification.
Proactive Risk Management
Passive investors ride the market’s ups and downs without the ability to adapt. Active managers can hold cash, reduce exposure, or reposition portfolios when risks outweigh opportunities.
What Our Clients Say
What Our Clients Say
What Our Clients Say
"Teal has been the best investment advisor we have ever worked with. After 10 years with an advisor who worked only with mutual funds and generated poor returns, we switched to Teal and over the last 12 years we have seen our portfolio develop beyond our hopes. You must be prepared for a few ups and downs as he invests in stocks, but over a reasonable length of time (say 5 years) I predict you will be very happy. Like the reviewer who made one investment and saw it fail, we have seen a few poorly performing stocks over the years but not many! With no pension plan or benefits after retirement we need to build up a substantial portfolio and we have no doubt Teal will get us there." - BC
"Teal has been the best investment advisor we have ever worked with. After 10 years with an advisor who worked only with mutual funds and generated poor returns, we switched to Teal and over the last 12 years we have seen our portfolio develop beyond our hopes. You must be prepared for a few ups and downs as he invests in stocks, but over a reasonable length of time (say 5 years) I predict you will be very happy. Like the reviewer who made one investment and saw it fail, we have seen a few poorly performing stocks over the years but not many! With no pension plan or benefits after retirement we need to build up a substantial portfolio and we have no doubt Teal will get us there." - BC
"Teal has been the best investment advisor we have ever worked with. After 10 years with an advisor who worked only with mutual funds and generated poor returns, we switched to Teal and over the last 12 years we have seen our portfolio develop beyond our hopes. You must be prepared for a few ups and downs as he invests in stocks, but over a reasonable length of time (say 5 years) I predict you will be very happy. Like the reviewer who made one investment and saw it fail, we have seen a few poorly performing stocks over the years but not many! With no pension plan or benefits after retirement we need to build up a substantial portfolio and we have no doubt Teal will get us there." - BC
"Our retirement fund has tripled in value since Linde Equity took over management, way better than I have done over 40 years of trying." - PS
"Our retirement fund has tripled in value since Linde Equity took over management, way better than I have done over 40 years of trying." - PS
"Our retirement fund has tripled in value since Linde Equity took over management, way better than I have done over 40 years of trying." - PS
"We have been with Teal for over 10 years now and he has consistently outperformed any of our other investment channels including Vancouver property. I can honestly say that Teal not only allowed me to be able to retire 7 years earlier than planned but also in a financially healthier position." - GF
"We have been with Teal for over 10 years now and he has consistently outperformed any of our other investment channels including Vancouver property. I can honestly say that Teal not only allowed me to be able to retire 7 years earlier than planned but also in a financially healthier position." - GF
"We have been with Teal for over 10 years now and he has consistently outperformed any of our other investment channels including Vancouver property. I can honestly say that Teal not only allowed me to be able to retire 7 years earlier than planned but also in a financially healthier position." - GF
Contact Us
Contact Us
Contact Us
LINDE EQUITY
Suite 330 – 1385 West 8th Avenue
Vancouver, BC, V6H 3V9
Tel: 604‐738‐5200
Email: info@lindeequity.com
Linde Equity was founded in 2000 to research
and offer advice to individual investors. The firm
is registered as a portfolio manager and exempt
market dealer in British Columbia, Alberta,
Saskatchewan, Manitoba and Ontario, and as an
investment fund manager in British Columbia and
Ontario.
LINDE EQUITY
Suite 330 – 1385 West 8th Avenue
Vancouver, BC, V6H 3V9
Tel: 604‐738‐5200
Email: info@lindeequity.com