NICOLA WEALTH MANAGEMENT LTD.

CIK 1734493 · View on SEC EDGAR ↗

Portfolio value
$868.4M
#2,685 of 9,443 by 13F value · top 28.4%
Positions
61
As of
June 30, 2026

Portfolio value QoQ: +4.2% 13F does not disclose cash

Top 10 holdings weight
30.33%
Top 25 holdings weight
62.88%
Positions above 1%
44
Effective number of positions
47.1

Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)

Turnover Q2 2026: 13.79% Est. buys $117,301,657 · sells $126,546,571

Median holding: 3.0 quarters Tracked Q4 2024–Q2 2026 · 40.1% still held

New positions
5
Increased
14
Decreased
10
Closed
6
On this page

Performance vs S&P 500

Tracked Q1 2025–Q2 2026
+27.8%
S&P 500 total return (same window)
+37.0%
Excess return
-9.2%

Annualized: +21.7% · S&P 500: +28.7%

Approximates a buy-and-hold portfolio built from quarterly SEC 13F snapshots. Excludes cash, short positions, options/derivatives, and non-13(f) securities — reflects the disclosed long-equity book only, not total fund AUM. SEC filing lag is up to 45 days; this is not a real-time-copyable timing.

Priceable coverage: 98.0% · Options excluded: 0.0%

Sector breakdown

Industrials
20.7%
Technology
20.1%
Financial Services
8.8%
Financials
8.2%
Communication Services
6.7%
Energy
6.1%
Health Care
5.9%
Retail
4.8%
Telecommunication
3.1%
Utilities
2.8%
Consumer Discretionary
2.7%
Materials
2.4%
Packaging
2.4%
Real Estate
1.6%
Consumer Staples
1.6%
Communications
1.1%
Consumer products
1.0%
Other/Unmapped
0.1%

Full portfolio 61 positions

Type Streak 8Q trend
WCN Waste Connections, Inc. Common Shares $40,496,197 4.66% 243,000 $6,611,162 Up ×2
PBA Pembina Pipeline Corp. Ordinary Shares (Canada) $30,731,193 3.54% 664,500 $992,502
NVDA NVIDIA Corporation - Common Stock $26,912,105 3.10% 134,500 $5,460,905 Up ×1
MSFT Microsoft Corporation - Common Stock $25,014,721 2.88% 67,060 $5,373,501 Up ×1
TSM Taiwan Semiconductor Manufacturing Company Ltd. $24,833,640 2.86% 52,000 $8,949,990 Up ×1
V Visa Inc. $24,359,390 2.81% 71,000 $2,900,350
BIP Brookfield Infrastructure Partners LP Limited Partnership Units $24,266,305 2.79% 664,700 Up ×1
BAM Brookfield Asset Management Inc Class A Limited Voting Shares $23,120,841 2.66% 515,658 $3,839,590 Up ×4
TD Toronto Dominion Bank (The) Common Stock $22,337,597 2.57% 183,802 $5,175,346
UNP Union Pacific Corporation Common Stock $21,352,000 2.46% 78,500 $244,060 Down ×2
META Meta Platforms, Inc. - Class A Common Stock $21,236,033 2.45% 37,700 $2,241,317 Up ×2
GOOGL Alphabet Inc. - Class A Common Stock $20,727,460 2.39% 58,000 $7,787,260 Up ×2
LIN Linde plc - Ordinary Shares $20,653,812 2.38% 39,800 $922,564
CNI Canadian National Railway Company Common Stock $20,111,037 2.32% 168,600 $2,761,498
AMZN Amazon.com, Inc. - Common Stock $19,972,892 2.30% 83,800 $2,519,866
TTE TotalEnergies SE Ordinary Shares $19,971,636 2.30% 257,000 $-4,061,917
AVGO Broadcom Inc. - Common Stock $19,605,225 2.26% 51,900 $7,998,600 Up ×2
STN Stantec Inc Common Stock $18,875,972 2.17% 273,800 $1,347,779 Up ×2
SNPS Synopsys, Inc. - Common Stock $18,155,049 2.09% 40,700 $2,018,313
HDB HDFC Bank Limited Common Stock $17,693,550 2.04% 685,000 $4,308,110 Up ×4
AAPL Apple Inc. - Common Stock $17,650,960 2.03% 61,000 $2,169,770
H Hyatt Hotels Corporation Class A Common Stock $17,600,672 2.03% 90,800 $2,430,827 Down ×3
HD Home Depot, Inc. (The) Common Stock $17,281,320 1.99% 49,000 Up ×1
ISRG Intuitive Surgical, Inc. - Common Stock $17,060,472 1.96% 42,900 $-2,715,999
SLF Sun Life Financial Inc. Common Stock $16,071,943 1.85% 204,800 $-8,631,205 Down ×1
NFLX Netflix, Inc. - Common Stock $15,900,780 1.83% 222,700 $-5,511,825
BCE BCE, Inc. Common Stock $15,695,926 1.81% 729,000 $-2,694,113
AJG Arthur J. Gallagher & Co. Common Stock $15,013,878 1.73% 65,400 $5,722,596 Up ×1
CCK Crown Holdings, Inc. $14,760,240 1.70% 132,000 $1,527,240
FSV FirstService Corporation - Common Shares $14,069,570 1.62% 98,990 $2,095,920 Up ×2
INFY Infosys Limited American Depositary Shares $13,804,840 1.59% 1,316,000 $-1,610,070 Up ×5
NOW ServiceNow, Inc. Common Stock $12,062,520 1.39% 121,500 $-3,776,805 Down ×1
TTEK Tetra Tech, Inc. - Common Stock $11,873,790 1.37% 411,000 $-505,530
DE Deere & Company Common Stock $11,861,971 1.37% 18,700 $-2,840,159 Down ×2
SYK Stryker Corporation Common Stock $11,586,112 1.33% 36,800 Up ×1
MSA MSA Safety Incorporated Common Stock $11,413,168 1.31% 65,375 $694,937
MCO Moody's Corporation Common Stock $11,368,292 1.31% 25,100 $418,417
T AT&T Inc. $10,979,280 1.26% 530,400 $-11,006,736 Down ×2
BHE Benchmark Electronics, Inc. Common Stock $10,024,872 1.15% 101,600 $4,329,176
AMG Affiliated Managers Group, Inc. Common Stock $9,813,600 1.13% 29,000 $1,789,300
MSI Motorola Solutions, Inc. Common Stock $9,551,670 1.10% 23,000 $-429,640
SANM Sanmina Corporation - Common Stock $9,136,188 1.05% 36,100 $2,641,224 Down ×2
ADBE Adobe Inc. - Common Stock $9,061,884 1.04% 44,200 $-1,682,252
PLXS Plexus Corp. - Common Stock $8,719,430 1.00% 29,000 $2,845,770
EPC Edgewell Personal Care Company Common Stock $8,278,252 0.95% 308,200 $1,701,264
KO Coca-Cola Company (The) Common Stock $8,005,095 0.92% 98,500 $-4,923,405 Down ×1
GIB CGI Inc. Common Stock $7,881,979 0.91% 122,000 $-1,035,227
IDXX IDEXX Laboratories, Inc. - Common Stock $7,791,312 0.90% 14,800 $-524,660
OBDC Blue Owl Capital Corporation Common Stock $7,772,050 0.89% 715,000 Up ×1
TFII TFI International Inc. Common Shares $6,719,152 0.77% 46,700 $-5,425,790 Down ×2
SLGN Silgan Holdings Inc. Common Stock $6,350,791 0.73% 136,900 $1,039,071
PRGO Perrigo Company plc Ordinary Shares $6,192,440 0.71% 596,000 $2,283,080 Up ×2
CRI Carter's, Inc. Common Stock $5,807,676 0.67% 141,100 $761,940
COKE Coca-Cola Consolidated, Inc. - Common Stock $5,651,232 0.65% 29,600 $-24,272
REZI Resideo Technologies, Inc. Common Stock $4,901,360 0.56% 157,600 $-411,336
LIVN LivaNova PLC - Ordinary Shares $4,522,650 0.52% 55,000 Up ×1
BCO Brinks Company (The) Common Stock $4,497,724 0.52% 47,600 $-435,064
IONS Ionis Pharmaceuticals, Inc. - Common Stock $4,123,080 0.47% 52,000 $218,400
TJX TJX Companies, Inc. (The) Common Stock $4,090,500 0.47% 27,000 $-4,852,700 Down ×1
NBR Nabors Industries Ltd. $1,949,032 0.22% 23,200 $-47,560
HYG $1,095,589 0.13% 13,700 $5,617

Conviction holdings

Positions increased for 3+ consecutive quarters.

Share counts are as reported in 13F filings (not split-adjusted)

Security Value % of portfolio Streak
BAM $23,120,841 2.66% up ×4
HDB $17,693,550 2.04% up ×4
INFY $13,804,840 1.59% up ×5

Biggest new bets

New positions opened this quarter, largest first.

Security Value Shares % of portfolio
BIP $24,266,305 664,700 2.79%
HD $17,281,320 49,000 1.99%
SYK $11,586,112 36,800 1.33%
OBDC $7,772,050 715,000 0.89%
LIVN $4,522,650 55,000 0.52%

Top movers (QoQ)

Security Action Shares Δ Value Δ
T Trimmed -228K -$11.0M
TSM Bought more +5K +$8.9M
SLF Trimmed -190K -$8.6M
AVGO Bought more +14K +$8.0M
GOOGL Bought more +13K +$7.8M
WCN Bought more +34K +$6.6M
AJG Bought more +22K +$5.7M
NFLX Price move only +0 -$5.5M
NVDA Bought more +12K +$5.5M
TFII Trimmed -65K -$5.4M

Exited positions

Includes corporate events (mergers, delistings) — not all exits are sells

Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.

SecurityQuarter Shares before Value before Price since exit
TRP March 31, 2026 2,000,000 $110,146,828 1.2%
BNS March 31, 2026 1,361,500 $100,429,661 27.1%
CM Dec. 31, 2025 950,000 $75,919,731 29.9%
UNH June 30, 2025 46,400 $24,302,000 24.2%
RY March 31, 2025 138,535 $24,010,886 84.1%
REET Sept. 30, 2025 903,300 $22,311,510 No longer tracked
SHOP June 30, 2025 216,383 $20,592,862 26.4%
CNQ June 30, 2026 336,100 $16,391,940 29.7%
TU June 30, 2026 1,223,219 $15,718,813 -5.1%
SU June 30, 2025 404,922 $15,684,570 82.2%
EFX June 30, 2025 60,000 $14,613,600 -25.0%
WMT June 30, 2026 105,200 $13,074,256 -8.9%
ATS June 30, 2025 523,300 $13,048,850 -38.6%
EA Sept. 30, 2025 77,900 $12,440,630 No longer tracked
PLD June 30, 2026 89,000 $11,764,020 4.3%
WCC June 30, 2025 75,300 $11,694,090 85.3%
CUBE June 30, 2026 309,000 $11,324,850 3.4%
BDX March 31, 2025 49,500 $11,230,065 4.8%
CP March 31, 2026 141,500 $10,419,044 21.5%
ROST June 30, 2025 79,300 $10,133,747 86.9%
LULU June 30, 2025 35,300 $9,992,018 -50.4%
CPRT March 31, 2026 255,000 $9,983,250 3.3%
BSX March 31, 2025 102,300 $9,137,436 -51.0%
IT March 31, 2026 35,500 $8,955,940 21.9%
LW June 30, 2025 167,300 $8,917,090 2.9%
KLAC Sept. 30, 2025 9,000 $8,061,660 -82.8%
URI Sept. 30, 2025 9,200 $6,931,280 15.9%
LOW March 31, 2025 26,000 $6,416,800 -6.7%
PDCO June 30, 2025 176,800 $5,523,232 No longer tracked
CASY Sept. 30, 2025 10,400 $5,306,808 48.3%
GRTUF Dec. 31, 2025 90,500 $5,029,025 No longer tracked
JBL Sept. 30, 2025 22,500 $4,907,250 46.9%
AB Dec. 31, 2025 114,000 $4,356,783 -5.9%
DCBO June 30, 2025 119,000 $3,423,990 -15.0%
AVB March 31, 2025 10,650 $3,368,189 No longer tracked
WELL Sept. 30, 2025 20,642 $3,173,295 33.8%
DLR Sept. 30, 2025 17,732 $3,091,220 13.6%
XYL Sept. 30, 2025 22,000 $2,845,920 -22.8%
BEP Sept. 30, 2025 110,000 $2,804,112 28.5%
EQIX Sept. 30, 2025 3,486 $2,773,008 39.9%
PDS June 30, 2026 28,000 $2,754,923 17.4%
CEG Sept. 30, 2025 8,500 $2,743,460 -17.2%
ORA Sept. 30, 2025 32,500 $2,722,200 13.5%
AWK Sept. 30, 2025 19,500 $2,712,645 -1.6%
WSO March 31, 2026 8,000 $2,695,600 -13.0%
NEE Sept. 30, 2025 38,500 $2,672,670 12.6%
PWR Sept. 30, 2025 7,000 $2,646,560 59.0%
ITRI Sept. 30, 2025 18,500 $2,435,155 -20.4%
DNB Sept. 30, 2025 267,000 $2,427,030 No longer tracked
HASI Sept. 30, 2025 90,000 $2,417,400 33.0%
EQR Sept. 30, 2025 34,943 $2,358,303 -1.7%
FSLR Sept. 30, 2025 14,000 $2,317,560 -2.6%
CCJ Sept. 30, 2025 31,000 $2,301,784 21.2%
FL Sept. 30, 2025 91,000 $2,229,500 No longer tracked
WBA Sept. 30, 2025 190,000 $2,181,200 No longer tracked
INVH Sept. 30, 2025 61,231 $2,008,377 2.9%
EPRT March 31, 2025 39,417 $1,772,694 -4.9%
CPT Sept. 30, 2025 15,471 $1,743,427 1.3%
VICI Sept. 30, 2025 52,537 $1,712,706 -18.7%
PSA Sept. 30, 2025 5,480 $1,607,942 11.6%
RHP March 31, 2025 10,305 $1,545,903 40.5%
VTR Sept. 30, 2025 23,770 $1,501,075 32.6%
ADC Sept. 30, 2025 20,296 $1,482,826 4.5%
HLT Sept. 30, 2025 5,440 $1,448,890 27.4%
SUI June 30, 2025 10,984 $1,412,982 -3.1%
CBRE Sept. 30, 2025 10,055 $1,408,907 -3.4%
SPG Sept. 30, 2025 8,550 $1,374,498 17.1%
SNDA Sept. 30, 2025 54,977 $1,371,676 41.3%
AMRC March 31, 2025 55,000 $1,291,400 86.2%
REG Sept. 30, 2025 17,900 $1,275,017 5.0%
REXR March 31, 2025 22,010 $1,223,391 -4.5%
FLNC March 31, 2025 75,000 $1,191,000 138.8%
VRT Sept. 30, 2025 9,000 $1,155,690 75.2%
ENPH Sept. 30, 2025 28,000 $1,110,200 10.5%
TTEK Sept. 30, 2025 30,000 $1,078,800 10.0%
AMT Sept. 30, 2025 4,881 $1,078,799 -8.1%
EGP Sept. 30, 2025 6,200 $1,036,144 20.2%
LXPXXXX March 31, 2025 83,031 $969,348 No longer tracked
CTRE March 31, 2025 24,505 $953,027 39.0%
NNN Sept. 30, 2025 21,506 $928,629 8.2%
NXT Sept. 30, 2025 17,000 $924,290 18.7%
RUN June 30, 2025 149,000 $873,140 15.2%
FR June 30, 2025 15,620 $842,855 30.6%
BE Sept. 30, 2025 35,000 $837,200 143.7%
MAC June 30, 2025 47,764 $820,108 52.2%
BRX Sept. 30, 2025 29,060 $756,722 6.4%
SLG Sept. 30, 2025 11,596 $717,792 -2.4%
HIW Sept. 30, 2025 19,160 $595,684 -1.4%
KIM March 31, 2025 17,509 $589,817 13.7%
HP Dec. 31, 2025 25,900 $572,092 55.4%
SHO June 30, 2025 59,381 $558,775 31.1%
HPP Sept. 30, 2025 143,100 $392,094 -24.5%