Q4 2025 · 13F-HR
NICOLA WEALTH MANAGEMENT LTD.holdings as filed
Filed 2026-02-09 · accession 0001734493-26-000002
$1.10B
Reported value
65
Positions
2025-12-31
Period end
The Brief · NICOLA WEALTH MANAGEMENT LTD. · Q4 2025
AI · grounded in 13F
NICOLA WEALTH MANAGEMENT LTD. closed its position in CM, reducing exposure by $75.9M. The fund established new positions in TTEK for $12.2M, IT for $8.9M, and TTE for $8M. Additionally, the fund increased its holdings in BNS by 163.19% and PBA by 28.04%.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 87807B107 | TRP | TC ENERGY CORP | $110.1M | 10.0% | 2,000,000 | Common | NONE |
| 064149107 | BNS | BANK NOVA SCOTIA HALIFAX | $100.4M | 9.14% | 1,361,500 | Common | NONE |
| 706327103 | PBA | PEMBINA PIPELINE CORP | $37.6M | 3.42% | 987,800 | Common | NONE |
| 891160509 | TD | TORONTO DOMINION BK ONT | $34.2M | 3.12% | 363,302 | Common | NONE |
| 94106B101 | WCN | WASTE CONNECTIONS INC | $32.5M | 2.96% | 185,400 | Common | NONE |
| 594918104 | MSFT | MICROSOFT CORP | $32.2M | 2.93% | 66,560 | Common | NONE |
| 907818108 | UNP | UNION PAC CORP | $25.9M | 2.36% | 112,000 | Common | NONE |
| 92826C839 | V | VISA INC | $24.9M | 2.27% | 71,000 | Common | NONE |
| 023135106 | AMZN | AMAZON COM INC | $24.4M | 2.22% | 105,800 | Common | NONE |
| 46120E602 | ISRG | INTUITIVE SURGICAL INC | $24.3M | 2.21% | 42,900 | Common | NONE |
| 67066G104 | NVDA | NVIDIA CORPORATION | $22.9M | 2.09% | 123,000 | Common | NONE |
| 866796105 | SLF | SUN LIFE FINANCIAL INC. | $22.9M | 2.08% | 366,900 | Common | NONE |
| 00206R102 | T | AT&T INC | $22.8M | 2.07% | 916,400 | Common | NONE |
| 244199105 | DE | DEERE & CO | $21.2M | 1.93% | 45,500 | Common | NONE |
| 81762P102 | NOW | SERVICENOW INC | $21.1M | 1.92% | 138,000 | Common | NONE |
| 30303M102 | META | META PLATFORMS INC | $20.9M | 1.90% | 31,700 | Common | NONE |
| 874039100 | TSM | TAIWAN SEMICONDUCTOR MFG LTD | $20.4M | 1.85% | 67,000 | Common | NONE |
| 448579102 | H | HYATT HOTELS CORP | $19.8M | 1.80% | 123,500 | Common | NONE |
| 136375102 | CNI | CANADIAN NATL RY CO | $19.7M | 1.79% | 198,800 | Common | NONE |
| 931142103 | WMT | WALMART INC | $19.6M | 1.79% | 176,200 | Common | NONE |
| 05534B760 | BCE | BCE INC | $17.4M | 1.58% | 729,000 | Common | NONE |
| G54950103 | LIN | LINDE PLC | $17.0M | 1.54% | 39,800 | Common | NONE |
| 456788108 | INFY | INFOSYS LTD | $16.9M | 1.54% | 948,000 | Common | NONE |
| 87971M103 | TU | TELUS CORPORATION | $16.1M | 1.47% | 1,223,219 | Common | NONE |
| 64110L106 | NFLX | NETFLIX INC | $15.7M | 1.42% | 167,000 | Common | NONE |
| 00724F101 | ADBE | ADOBE INC | $15.5M | 1.41% | 44,200 | Common | NONE |
| 40415F101 | HDB | HDFC BANK LTD | $14.7M | 1.34% | 403,000 | Common | NONE |
| 136385101 | CNQ | CANADIAN NAT RES LTD | $14.7M | 1.33% | 432,900 | Common | NONE |
| 871607107 | SNPS | SYNOPSYS INC | $13.7M | 1.25% | 29,200 | Common | NONE |
| 228368106 | CCK | CROWN HLDGS INC | $13.6M | 1.24% | 132,000 | Common | NONE |
| 113004105 | BAM | BROOKFIELD ASSET MANAGMT LTD | $13.2M | 1.20% | 251,758 | Common | NONE |
| 87241L109 | TFII | TFI INTL INC | $13.1M | 1.19% | 126,600 | Common | NONE |
| 88162G103 | TTEK | TETRA TECH INC NEW | $12.2M | 1.11% | 365,000 | Common | NONE |
| 191216100 | KO | COCA COLA CO | $11.9M | 1.08% | 170,000 | Common | NONE |
| 553498106 | MSA | MSA SAFETY INC | $11.6M | 1.05% | 72,375 | Common | NONE |
| 74340W103 | PLD | PROLOGIS INC. | $11.4M | 1.03% | 89,000 | Common | NONE |
| 12532H104 | GIB | CGI INC | $11.3M | 1.03% | 122,000 | Common | NONE |
| 229663109 | CUBE | CUBESMART | $11.1M | 1.01% | 309,000 | Common | NONE |
| 363576109 | AJG | GALLAGHER ARTHUR J & CO | $11.1M | 1.01% | 42,900 | Common | NONE |
| 11135F101 | AVGO | BROADCOM INC | $10.9M | 0.99% | 31,500 | Common | NONE |
| 13646K108 | CP | CANADIAN PACIFIC KANSAS CITY | $10.4M | 0.95% | 141,500 | Common | NONE |
| 464288513 | HYG | ISHARES TR | $10.1M | 0.92% | 125,000 | Common | NONE |
| 45168D104 | IDXX | IDEXX LABS INC | $10.0M | 0.91% | 14,800 | Common | NONE |
| 217204106 | CPRT | COPART INC | $10.0M | 0.91% | 255,000 | Common | NONE |
| 366651107 | IT | GARTNER INC | $9.0M | 0.81% | 35,500 | Common | NONE |
| 02079K305 | GOOGL | ALPHABET INC | $8.6M | 0.78% | 27,500 | Common | NONE |
| 872540109 | TJX | TJX COS INC NEW | $8.6M | 0.78% | 56,000 | Common | NONE |
| 008252108 | AMG | AFFILIATED MANAGERS GROUP IN | $8.4M | 0.76% | 29,000 | Common | NONE |
| 801056102 | SANM | SANMINA CORPORATION | $8.3M | 0.75% | 55,100 | Common | NONE |
| F92124100 | TTE | TOTALENERGIES SE | $8.0M | 0.73% | 144,000 | Common | NONE |
| 33767E202 | FSV | FIRSTSERVICE CORP NEW | $7.8M | 0.71% | 50,390 | Common | NONE |
| 462222100 | IONS | IONIS PHARMACEUTICALS INC | $6.9M | 0.63% | 87,000 | Common | NONE |
| 729132100 | PLXS | PLEXUS CORP | $6.8M | 0.62% | 46,000 | Common | NONE |
| 191098102 | COKE | COCA COLA CONS INC | $6.2M | 0.57% | 40,600 | Common | NONE |
| 85472N109 | STN | STANTEC INC | $6.1M | 0.55% | 64,600 | Common | NONE |
| 146229109 | CRI | CARTERS INC | $5.8M | 0.53% | 179,100 | Common | NONE |
| 109696104 | BCO | BRINKS CO | $5.6M | 0.51% | 47,600 | Common | NONE |
| 76118Y104 | REZI | RESIDEO TECHNOLOGIES INC | $5.5M | 0.50% | 157,600 | Common | NONE |
| 827048109 | SLGN | SILGAN HLDGS INC | $5.5M | 0.50% | 136,900 | Common | NONE |
| 08160H101 | BHE | BENCHMARK ELECTRS INC | $5.3M | 0.48% | 124,600 | Common | NONE |
| 28035Q102 | EPC | EDGEWELL PERS CARE CO | $5.3M | 0.48% | 308,200 | Common | NONE |
| G97822103 | PRGO | PERRIGO CO PLC | $3.9M | 0.36% | 281,000 | Common | NONE |
| 942622200 | WSO | WATSCO INC | $2.7M | 0.25% | 8,000 | Common | NONE |
| 74022D407 | PDS | PRECISION DRILLING CORP | $2.0M | 0.18% | 28,000 | Common | NONE |
| G6359F137 | NBR | NABORS INDUSTRIES LTD | $1.3M | 0.11% | 23,200 | Common | NONE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.