NICOLA WEALTH MANAGEMENT LTD.
Reported holdings as of Q2 2026, from 31 quarterly filings.
Holdings
| Security | Ticker | Value | Shares | Weight | Weight change | Held | Change |
|---|---|---|---|---|---|---|---|
| WASTE CONNECTIONS INC | WCN | $40.5M | 243,000 | +0.60pp | 5q | +16.5%+$5.7M | |
| PEMBINA PIPELINE CORP | PBA | $30.7M | 664,500 | -0.03pp | 5q | HELD | |
| NVIDIA CORPORATION | NVDA | $26.9M | 134,500 | +0.52pp | 6q | +9.3%+$2.3M | |
| MICROSOFT CORP | MSFT | $25.0M | 67,060 | +0.52pp | 31q | +26.4%+$5.2M | |
| TAIWAN SEMICONDUCTOR MANUFAC | TSM | $24.8M | 52,000 | +0.95pp | 6q | +10.6%+$2.4M | |
| VISA INC | V | $24.4M | 71,000 | +0.23pp | 31q | HELD | |
| BROOKFIELD INFRASTRUCTURE PA | BIP | $24.3M | 664,700 | - | new | NEW | |
| BROOKFIELD ASSET MANAGMT LTD | BAM | $23.1M | 515,658 | +0.35pp | 15q | +18.9%+$3.7M | |
| TORONTO DOMINION BK ONT | TD | $22.3M | 183,802 | +0.51pp | 31q | HELD | |
| UNION PAC CORP | UNP | $21.4M | 78,500 | -0.08pp | 26q | -9.8%-$2.3M | |
| META PLATFORMS INC | META | $21.2M | 37,700 | +0.17pp | 10q | +13.6%+$2.5M | |
| ALPHABET INC | GOOGL | $20.7M | 58,000 | +0.83pp | 31q | +28.9%+$4.6M | |
| LINDE PLC | LIN | $20.7M | 39,800 | +0.01pp | 6q | HELD | |
| CANADIAN NATL RY CO | CNI | $20.1M | 168,600 | +0.23pp | 31q | HELD | |
| AMAZON COM INC | AMZN | $20.0M | 83,800 | +0.20pp | 10q | HELD | |
| TOTALENERGIES SE | TTE | $20.0M | 257,000 | -0.59pp | 3q | HELD | |
| BROADCOM INC | AVGO | $19.6M | 51,900 | +0.86pp | 8q | +38.4%+$5.4M | |
| STANTEC INC | STN | $18.9M | 273,800 | +0.07pp | 6q | +35.0%+$4.9M | |
| SYNOPSYS INC | SNPS | $18.2M | 40,700 | +0.15pp | 4q | HELD | |
| HDFC BANK LTD | HDB | $17.7M | 685,000 | +0.43pp | 6q | +27.3%+$3.8M | |
| APPLE INC | AAPL | $17.7M | 61,000 | +0.17pp | 2q | HELD | |
| HYATT HOTELS CORP | H | $17.6M | 90,800 | +0.21pp | 18q | -13.9%-$2.8M | |
| HOME DEPOT INC | HD | $17.3M | 49,000 | - | new | NEW | |
| INTUITIVE SURGICAL INC | ISRG | $17.1M | 42,900 | -0.41pp | 9q | HELD | |
| SUN LIFE FINANCIAL INC. | SLF | $16.1M | 204,800 | -1.11pp | 6q | -48.1%-$14.9M | |
| NETFLIX INC | NFLX | $15.9M | 222,700 | -0.74pp | 17q | HELD | |
| BCE INC | BCE | $15.7M | 729,000 | -0.40pp | 7q | HELD | |
| GALLAGHER ARTHUR J & CO | AJG | $15.0M | 65,400 | +0.61pp | 16q | +52.4%+$5.2M | |
| CROWN HLDGS INC | CCK | $14.8M | 132,000 | +0.11pp | 21q | HELD | |
| FIRSTSERVICE CORP NEW | FSV | $14.1M | 98,990 | +0.18pp | 3q | +15.0%+$1.8M | |
| INFOSYS LTD | INFY | $13.8M | 1,316,000 | -0.26pp | 6q | +15.3%+$1.8M | |
| SERVICENOW INC | NOW | $12.1M | 121,500 | -0.51pp | 10q | -19.8%-$3.0M | |
| TETRA TECH INC NEW | TTEK | $11.9M | 411,000 | -0.12pp | 3q | HELD | |
| DEERE & CO | DE | $11.9M | 18,700 | -0.40pp | 26q | -28.4%-$4.7M | |
| STRYKER CORPORATION | SYK | $11.6M | 36,800 | - | new | NEW | |
| MSA SAFETY INC | MSA | $11.4M | 65,375 | +0.03pp | 4q | HELD | |
| MOODYS CORP | MCO | $11.4M | 25,100 | -0.01pp | 2q | HELD | |
| AT&T INC | T | $11.0M | 530,400 | -1.37pp | 21q | -30.1%-$4.7M | |
| BENCHMARK ELECTRS INC | BHE | $10.0M | 101,600 | +0.47pp | 17q | HELD | |
| AFFILIATED MANAGERS GROUP | AMG | $9.8M | 29,000 | +0.17pp | 7q | HELD | |
| MOTOROLA SOLUTIONS INC | MSI | $9.6M | 23,000 | -0.10pp | 2q | HELD | |
| SANMINA CORP | SANM | $9.1M | 36,100 | +0.27pp | 17q | -27.9%-$3.5M | |
| ADOBE INC | ADBE | $9.1M | 44,200 | -0.25pp | 19q | HELD | |
| PLEXUS CORP | PLXS | $8.7M | 29,000 | +0.30pp | 4q | HELD | |
| EDGEWELL PERSONAL CARE CO | EPC | $8.3M | 308,200 | +0.16pp | 17q | HELD | |
| COCA COLA CO | KO | $8.0M | 98,500 | -0.63pp | 5q | -42.1%-$5.8M | |
| CGI INC | GIB | $7.9M | 122,000 | -0.16pp | 12q | HELD | |
| IDEXX LABS INC | IDXX | $7.8M | 14,800 | -0.10pp | 6q | HELD | |
| BLUE OWL CAPITAL CORPORATION | OBDC | $7.8M | 715,000 | - | new | NEW | |
| TFI INTERNATIONAL INC | TFII | $6.7M | 46,700 | -0.68pp | 4q | -58.2%-$9.3M | |
| SILGAN HLDGS INC | SLGN | $6.4M | 136,900 | +0.09pp | 17q | HELD | |
| PERRIGO CO PLC | PRGO | $6.2M | 596,000 | +0.24pp | 12q | +63.7%+$2.4M | |
| CARTERS INC | CRI | $5.8M | 141,100 | +0.06pp | 17q | HELD | |
| COCA COLA CONS INC | COKE | $5.7M | 29,600 | -0.03pp | 17q | HELD | |
| RESIDEO TECHNOLOGIES INC | REZI | $4.9M | 157,600 | -0.07pp | 17q | HELD | |
| LIVANOVA PLC | LIVN | $4.5M | 55,000 | - | new | NEW | |
| BRINKS CO | BCO | $4.5M | 47,600 | -0.07pp | 17q | HELD | |
| IONIS PHARMACEUTICALS INC | IONS | $4.1M | 52,000 | +0.01pp | 12q | HELD | |
| TJX COS INC NEW | TJX | $4.1M | 27,000 | -0.60pp | 5q | -51.8%-$4.4M | |
| NABORS INDUSTRIES LTD | NBR | $1.9M | 23,200 | -0.02pp | 17q | HELD | |
| ISHARES TR | HYG | $1.1M | 13,700 | flat | 4q | HELD |
By sector
Industry comes from the SIC code on each company's own SEC filings, which is self-reported and sometimes out of date. Derivative exposure is counted with the shares. Securities the SEC assigns no industry - funds, trusts, foreign issues - are shown as not classified rather than dropped.
| Sector | Value | Share |
|---|---|---|
| Software & IT Services | $120.1M | 13.8% |
| Semiconductors & Electronics | $108.8M | 12.5% |
| Business Services | $92.0M | 10.6% |
| Transport & Logistics | $76.9M | 8.9% |
| Energy | $52.7M | 6.1% |
| Retail & Consumer | $47.2M | 5.4% |
| Medical Devices | $44.6M | 5.1% |
| Telecom & Media | $42.6M | 4.9% |
| Utilities | $40.5M | 4.7% |
| Banks & Lending | $40.0M | 4.6% |
| Industrials | $33.0M | 3.8% |
| Capital Markets | $32.9M | 3.8% |
| Other sectors | $136.2M | 15.7% |
| Not classified | $1.1M | 0.1% |
Quarter by quarter
| Quarter | Value | Positions | New | Added | Trimmed | Exited | Top 10 | Days to file |
|---|---|---|---|---|---|---|---|---|
| Q2 2026 | $868.4M | 61 | 5 | 14 | 10 | 6 | 30.3% | 37 |
| Q1 2026 | $833.0M | 62 | 3 | 16 | 21 | 6 | 28.8% | 37 |
| Q4 2025 | $1.1B | 65 | 4 | 14 | 17 | 4 | 40.6% | 40 |
| Q3 2025 | $1.1B | 65 | 8 | 24 | 12 | 47 | 40.7% | 31 |
| Q2 2025 | $1.1B | 104 | 9 | 32 | 32 | 16 | 38.8% | 42 |
| Q1 2025 | $1.0B | 111 | 20 | 27 | 34 | 13 | 32.7% | 67 |
| Q4 2024 | $1.1B | 104 | 12 | 22 | 41 | 12 | 28.5% | 37 |
| Q3 2024 | $1.3B | 104 | 4 | 43 | 24 | 8 | 34.2% | 37 |
| Q2 2024 | $1.1B | 108 | 8 | 41 | 26 | 13 | 34.6% | 31 |
| Q1 2024 | $1.0B | 113 | 14 | 29 | 32 | 15 | 33.6% | 40 |
| Q4 2023 | $953.0M | 114 | 11 | 25 | 38 | 7 | 27.3% | 39 |
| Q3 2023 | $927.1M | 110 | 14 | 25 | 46 | 7 | 30.7% | 45 |
| Q2 2023 | $1.0B | 103 | 3 | 33 | 29 | 10 | 34.1% | 41 |
| Q1 2023 | $1.0B | 110 | 11 | 30 | 29 | 17 | 33.5% | 40 |
| Q4 2022 | $986.3M | 116 | 4 | 66 | 19 | 14 | 29.5% | 40 |
| Q3 2022 | $910.9M | 126 | 6 | 52 | 44 | 22 | 26.5% | 45 |
| Q2 2022 | $1.0B | 142 | 35 | 55 | 38 | 11 | 32.1% | 42 |
| Q1 2022 | $1.1B | 118 | 11 | 49 | 26 | 12 | 30.3% | 39 |
| Q4 2021 | $1.1B | 119 | 11 | 41 | 34 | 7 | 27.2% | 40 |
| Q3 2021 | $972.0M | 115 | 6 | 34 | 46 | 6 | 27.7% | 43 |
| Q2 2021 | $975.4M | 115 | 10 | 42 | 37 | 7 | 22.8% | 43 |
| Q1 2021 | $894.5M | 112 | 15 | 39 | 46 | 8 | 22.9% | 37 |
| Q4 2020 | $804.1M | 105 | 7 | 44 | 35 | 13 | 24.8% | 40 |
| Q3 2020 | $702.1M | 111 | 10 | 32 | 44 | 13 | 24.8% | 40 |
| Q2 2020 | $722.4M | 114 | 9 | 47 | 17 | 5 | 24.5% | 43 |
| Q1 2020 | $665.2M | 110 | 28 | 32 | 18 | 10 | 27.3% | 41 |
| Q4 2019 | $664.8M | 92 | 13 | 20 | 28 | 11 | 27.3% | 44 |
| Q3 2019 | $638.3M | 90 | 7 | 40 | 16 | 6 | 26.4% | 39 |
| Q2 2019 | $602.9M | 89 | 9 | 28 | 21 | 21 | 27.2% | 40 |
| Q1 2019 | $669.3M | 101 | 10 | 21 | 26 | 13 | 26.5% | 39 |
| Q4 2018 | $607.0M | 104 | 0 | 0 | 0 | 0 | 25.6% | 42 |
Rows marked UNVERIFIED ID, PLACEHOLDER ID, TICKER AS ID or NON-CUSIP ID carry an identifier that is not a valid CUSIP. They are shown because the filer reported that money, but treat the security named with caution - hover the chip for what is wrong with it, and see the methodology.
Held counts consecutive filings in which this manager reported the position, and can reach further back than the quarters listed above: the tabs begin at Q4 2018 because earlier coverage is too sparse to describe a market, but tenure is counted over every filing we hold, some reaching to 2007. A position sold and later rebought starts again from one.
Weight change is the shift in this position's share of the whole book, in percentage points. It is the more useful column: when money flows into or out of a broad fund, almost every holding is bought or sold at once, so added and trimmed largely track flows. A weight that rose while the book shrank is a decision. Both compare with the previous quarter this filer reported, not the previous calendar quarter.