NICOLA WEALTH MANAGEMENT LTD.
Sector Allocation
- Technology32.8%$285.1M
- Financials16.1%$139.8M
- Industrials12.7%$109.9M
- Consumer Discretionary8.0%$69.7M
- Healthcare7.2%$62.7M
- Energy6.1%$52.7M
- Communication Services4.9%$42.6M
- Utilities4.7%$40.5M
- Consumer Staples2.5%$21.9M
- Materials2.4%$20.7M
AUM History
13fpro.ai/research/fund/nicola-wealth-management-ltd-1734493
Conviction and streaks
Concentrating · top 10 = 30.3%From the fund's last 12 quarters of 13F filings: positions held longest at size, and names it added to or trimmed several quarters running.
Largest positions — Q2 2026
WCN
$40.5MPBA
$30.7MNVDA
$26.9MMSFT
$25.0MTSM
$24.8MV
$24.4MBIP
$24.3MBAM
$23.1MTD
$22.3MUNP
$21.4MMETA
$21.2MGOOGL
$20.7MLIN
$20.7MCNI
$20.1MAMZN
$20.0MTTE
$20.0MAVGO
$19.6MSTN
$18.9MSNPS
$18.2MHDB
$17.7M
Top 20 stock positions. Options are left out: 13F reports them at the underlying's value.
13fpro.ai/research/fund/nicola-wealth-management-ltd-1734493
NICOLA WEALTH MANAGEMENT LTD. 13F holdings — Q2 2026
$868.4M portfolio (+4.3% QoQ) · 61 holdings · Q2 2026 13F · top 10 are 30% of the stock portfolio
$40.5M
4.7% of stocks
+16%This quarter+11.6%Since filed5 qtrsHeld$30.7M
3.5% of stocks
No changeThis quarter+4.8%Since filed5 qtrsHeld$26.9M
3.1% of stocks
+9%This quarter-1.4%Since filed6 qtrsHeld$25.0M
2.9% of stocks
+26%This quarter+6.5%Since filed10+ qtrsHeld$24.8M
2.9% of stocks
+11%This quarter+1.5%Since filed10+ qtrsHeld$24.4M
2.8% of stocks
No changeThis quarter+9.1%Since filed10+ qtrsHeld$24.3M
2.8% of stocks
NewThis quarter-5.6%Since filedNew this quarterHeld$23.1M
2.7% of stocks
+19%This quarter-11.5%Since filed10+ qtrsHeldAIQualityAI quality score is Pro: unlock with a free trialEst. buyEstimated buy price is Pro: unlock with a free trialAdded 4 qtrs in a row$22.3M
2.6% of stocks
No changeThis quarter+3.4%Since filed10+ qtrsHeld$21.4M
2.5% of stocks
-10%This quarter+0.5%Since filed10+ qtrsHeldAIQualityAI quality score is Pro: unlock with a free trialEst. buyEstimated buy price is Pro: unlock with a free trialTrimmed 2 qtrs in a row
All holdings — NICOLA WEALTH MANAGEMENT LTD. (Q2 2026)
61 disclosed positions from the Form 13F-HR on SEC EDGAR, with quarter-over-quarter share changes. Largest by value first; the ten above are not repeated.
| # | Company | Held | Source | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 11 | Meta Platforms, Inc. | Technology | $21.2M | 2.5% | 38K | +14% | 10+ qtrsAdded 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 12 | Alphabet Inc. | Technology | $20.7M | 2.4% | 58K | +29% | 10+ qtrsAdded 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 13 | LINDE PLC | Materials | $20.7M | 2.4% | 40K | — | 6 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 14 | CANADIAN NATIONAL RAILWAY CO | Industrials | $20.1M | 2.3% | 169K | — | 10+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 15 | AMAZON COM INC | Consumer Discretionary | $20.0M | 2.3% | 84K | — | 10+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 16 | TotalEnergies SE | Energy | $20.0M | 2.3% | 257K | — | 3 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 17 | Broadcom Inc. | Technology | $19.6M | 2.3% | 52K | +38% | 8 qtrsAdded 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 18 | STANTEC INC | Technology | $18.9M | 2.2% | 274K | +35% | 6 qtrsAdded 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 19 | SYNOPSYS INC | Technology | $18.2M | 2.1% | 41K | — | 4 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 20 | HDFC BANK LTDadr | Financials | $17.7M | 2.0% | 685K | +27% | 10+ qtrsAdded 4 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 21 | Apple Inc. | Technology | $17.7M | 2.0% | 61K | — | 2 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 22 | Hyatt Hotels Corp | Consumer Discretionary | $17.6M | 2.0% | 91K | -14% | 10+ qtrsTrimmed 3 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 23 | HOME DEPOT, INC. | Consumer Discretionary | $17.3M | 2.0% | 49K | New | 1 qtr | AI quality score is Pro: unlock with a free trial | 13F | |
| 24 | INTUITIVE SURGICAL INC | Healthcare | $17.1M | 2.0% | 43K | — | 9 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 25 | SUN LIFE FINANCIAL INC | Financials | $16.1M | 1.9% | 205K | -48% | 6 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 26 | $NFLX | NETFLIX INC | Communication Services | $15.9M | 1.8% | 223K | — | |||
| 27 | $BCE | BCE INC | Communication Services | $15.7M | 1.8% | 729K | — | |||
| 28 | $AJG | Arthur J. Gallagher & Co. | Financials | $15.0M | 1.7% | 65K | +52% | |||
| 29 | $CCK | CROWN HOLDINGS, INC. | Industrials | $14.8M | 1.7% | 132K | — | |||
| 30 | $FSV | FirstService Corp | Real Estate | $14.1M | 1.6% | 99K | +15% | |||
| 31 | $INFY | Infosys Ltd | Technology | $13.8M | 1.6% | 1.32M | +15% | |||
| 32 | $NOW | ServiceNow, Inc. | Technology | $12.1M | 1.4% | 122K | -20% | |||
| 33 | $TTEK | TETRA TECH INC | Technology | $11.9M | 1.4% | 411K | — | |||
| 34 | $DE | DEERE & CO | Industrials | $11.9M | 1.4% | 19K | -28% | |||
| 35 | $SYK | STRYKER CORP | Healthcare | $11.6M | 1.3% | 37K | New | |||
| 36 | $MSA | MSA Safety Inc | Healthcare | $11.4M | 1.3% | 65K | — | |||
| 37 | $MCO | MOODYS CORP /DE/ | Financials | $11.4M | 1.3% | 25K | — | |||
| 38 | $T | AT&T INC. | Communication Services | $11.0M | 1.3% | 530K | -30% | |||
| 39 | $BHE | BENCHMARK ELECTRONICS INC | Technology | $10.0M | 1.1% | 102K | — | |||
| 40 | $AMG | AFFILIATED MANAGERS GROUP, INC. | Financials | $9.8M | 1.1% | 29K | — | |||
| 41 | $MSI | Motorola Solutions, Inc. | Technology | $9.6M | 1.1% | 23K | — | |||
| 42 | $SANM | SANMINA CORP | Technology | $9.1M | 1.1% | 36K | -28% | |||
| 43 | $ADBE | ADOBE INC. | Technology | $9.1M | 1.0% | 44K | — | |||
| 44 | $PLXS | PLEXUS CORP | Technology | $8.7M | 1.0% | 29K | — | |||
| 45 | $EPC | EDGEWELL PERSONAL CARE Co | Consumer Staples | $8.3M | 0.9% | 308K | — | |||
| 46 | $KO | COCA COLA CO | Consumer Staples | $8.0M | 0.9% | 99K | -42% | |||
| 47 | $GIB | CGI INC | Technology | $7.9M | 0.9% | 122K | — | |||
| 48 | $IDXX | IDEXX LABORATORIES INC /DE | Healthcare | $7.8M | 0.9% | 15K | — | |||
| 49 | $OBDC | Blue Owl Capital Corp | Other | $7.8M | 0.9% | 715K | New | |||
| 50 | $TFII | TFI International Inc. | Industrials | $6.7M | 0.8% | 47K | -58% | |||
| 51 | $SLGN | SILGAN HOLDINGS INC | Industrials | $6.4M | 0.7% | 137K | — | |||
| 52 | $PRGO | PERRIGO Co plc | Healthcare | $6.2M | 0.7% | 596K | +64% | |||
| 53 | $CRI | CARTERS INC | Consumer Discretionary | $5.8M | 0.7% | 141K | — | |||
| 54 | $COKE | Coca-Cola Consolidated, Inc. | Consumer Staples | $5.7M | 0.7% | 30K | — | |||
| 55 | $REZI | RESIDEO TECHNOLOGIES, INC. | Consumer Discretionary | $4.9M | 0.6% | 158K | — | |||
| 56 | $LIVN | LivaNova PLC | Healthcare | $4.5M | 0.5% | 55K | New | |||
| 57 | $BCO | BRINKS CO | Industrials | $4.5M | 0.5% | 48K | — | |||
| 58 | $IONS | IONIS PHARMACEUTICALS INC | Healthcare | $4.1M | 0.5% | 52K | — | |||
| 59 | $TJX | TJX COMPANIES INC /DE/ | Consumer Discretionary | $4.1M | 0.5% | 27K | -52% | |||
| 60 | $NBR | NABORS INDUSTRIES LTD | Energy | $1.9M | 0.2% | 23K | — | |||
| 61 | — | ISHARES TR - IBOXX HI YD ETF | — | $1.1M | 0.1% | 14K | — |
What changed in Q2 2026
Against the previous quarter's 13F: 5 new, 14 added to, 10 trimmed, 6 sold out. Share-count changes; largest moves by dollar size first.
New positions (5)
Added to (14)
now $40.5M · held 5 qtrs, 2 adds in a row
now $19.6M · held 8 qtrs, 2 adds in a row
now $25.0M · held 10+ qtrs
$AJGArthur J. Gallagher & Co.+52%
now $15.0M · held 10+ qtrs
now $18.9M · held 6 qtrs, 2 adds in a row
now $20.7M · held 10+ qtrs, 2 adds in a row
+8 more in the Excel export
Trimmed (10)
$SLFSUN LIFE FINANCIAL INC-48%
now $16.1M · held 6 qtrs
$TFIITFI International Inc.-58%
now $6.7M · held 4 qtrs, 2 trims in a row
$KOCOCA COLA CO-42%
now $8.0M · held 5 qtrs
$TAT&T INC.-30%
now $11.0M · held 10+ qtrs, 2 trims in a row
$DEDEERE & CO-28%
now $11.9M · held 10+ qtrs, 2 trims in a row
$TJXTJX COMPANIES INC /DE/-52%
now $4.1M · held 5 qtrs
+4 more in the Excel export
Holdings by quarter
Every 13F NICOLA WEALTH MANAGEMENT LTD. has filed, 33 earlier quarters. Pick one to see what it held then.
Is it too late to follow NICOLA WEALTH MANAGEMENT LTD.?
Q2 2026 13F filed with the SEC on Aug 6, 2026. Prices are closing prices as of Oct 26, 2026.
Average quality of NICOLA WEALTH MANAGEMENT LTD.'s top 20 holdings: 75/100 (our AI quality score, weighted by position size; 12 of the 20 are scored)
Top 10 since filing
+2.6%
Value-weighted move of the 10 largest stock positions
Turnover
14%
Last quarter; 70% over the last 4
Top 10 weight
30%
Share of the stock portfolio in its 10 largest positions
Held 4+ quarters
83%
Share of portfolio value in positions held a year or more
Highest-quality names it owns(among its 100 largest positions)
The 8 highest-scoring companies in this portfolio are a Pro feature.
How these are measured
- Moves since the quarter-end and since the filing date use our own daily closing prices, from the close on (or just before) each date to the latest close.
- Turnover is the lesser of shares bought or sold in a quarter, valued at the quarter-end prices in the 13F, divided by the average of the two quarters' stock portfolio values.
- Quarters held and add/trim streaks count back only through quarters whose filed holdings add up to the filing's own cover-page total (back to Q1 2024 for this fund). A change counts as an add or a trim when the split-adjusted share count moves by more than 1%.
- Estimate, not the fund's reported cost. For each quarter in the current holding period in which the fund's share count rose (split-adjusted), we take that quarter's average daily close and weight it by the shares added; sales do not change an average cost. Quarters where the stock's price history and the 13F's own implied price disagree by more than 2x are left out.
- Put and call option rows report the value of the underlying shares, not a position the fund paid for, so they are left out of all of the above.
Portfolio Overview
NICOLA WEALTH MANAGEMENT LTD. disclosed 61 positions worth $868.4M in its Form 13F-HR for Q2 2026, led by $WCN (Waste Connections, Inc.) at 4.7% of the equity portfolio, followed by $PBA and $NVDA. During the quarter the fund opened 5 new positions and exited 6 — including a new stake in $BIP and a full exit from $CNQ. The portfolio is most concentrated in Technology (32.8% of disclosed assets). All figures are sourced directly from NICOLA WEALTH MANAGEMENT LTD.’s Form 13F-HR filing with the SEC under CIK 1734493.
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