# Northwest & Ethical Investments L.P.

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 2033536. Source: https://holderbook.com/funds/2033536-northwest-ethical-investments-l-p/

- Reported value: $4.3B
- Positions: 522
- Weight of the ten largest: 30.9%
- Filed: 2026-08-13

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| ISHARES TR | [DMXF](https://holderbook.com/stocks/DMXF/) | $288.4M | 3,409,570 | 6.7% | 1 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $180.6M | 903,030 | 4.2% | 25 |
| AMERICAN CENTY ETF TR | [AVSD](https://holderbook.com/stocks/AVSD/) | $158.3M | 1,981,400 | 3.7% | 3 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $143.1M | 383,734 | 3.3% | 68 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $112.9M | 390,390 | 2.6% | 52 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $107.3M | 303,801 | 2.5% | 43 |
| ROYAL BK CDA | [RY](https://holderbook.com/stocks/RY/) | $96.0M | 464,627 | 2.2% | 68 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $82.7M | 218,846 | 1.9% | 22 |
| KLA CORP | [KLAC](https://holderbook.com/stocks/KLAC/) | $80.8M | 267,866 | 1.9% | 2 |
| TORONTO DOMINION BK ONT | [TD](https://holderbook.com/stocks/TD/) | $75.3M | 620,742 | 1.8% | 68 |
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $64.6M | 87,670 | 1.5% | 3 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $62.6M | 83,830 | 1.5% | 5 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $61.6M | 258,513 | 1.4% | 41 |
| WASTE CONNECTIONS INC | [WCN](https://holderbook.com/stocks/WCN/) | $58.8M | 352,832 | 1.4% | 25 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $49.9M | 425,036 | 1.2% | 40 |
| CANADIAN NATL RY CO | [CNI](https://holderbook.com/stocks/CNI/) | $47.8M | 400,958 | 1.1% | 68 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $43.6M | 127,005 | 1.0% | 49 |
| NEXTERA ENERGY INC | [NEE](https://holderbook.com/stocks/NEE/) | $41.8M | 476,249 | 1.0% | 26 |
| LINDE PLC | [LIN](https://holderbook.com/stocks/LIN/) | $40.5M | 78,067 | 0.9% | 14 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $40.0M | 311,108 | 0.9% | 40 |
| CANADIAN PACIFIC KANSAS CITY | [CP](https://holderbook.com/stocks/CP/) | $38.9M | 448,514 | 0.9% | 9 |
| TAIWAN SEMICONDUCTOR MANUFAC | [TSM](https://holderbook.com/stocks/TSM/) | $38.2M | 80,128 | 0.9% | 40 |
| GILEAD SCIENCES INC | [GILD](https://holderbook.com/stocks/GILD/) | $37.2M | 294,685 | 0.9% | 17 |
| ENBRIDGE INC | [ENB](https://holderbook.com/stocks/ENB/) | $36.9M | 681,166 | 0.9% | 35 |
| AGILENT TECHNOLOGIES INC | [A](https://holderbook.com/stocks/A/) | $35.7M | 269,114 | 0.8% | 42 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $34.1M | 598,398 | 0.8% | 40 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $33.9M | 66,007 | 0.8% | 49 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $32.8M | 27,350 | 0.8% | 49 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $32.6M | 99,488 | 0.8% | 68 |
| BROOKFIELD CORP | [BN](https://holderbook.com/stocks/BN/) | $32.3M | 758,223 | 0.8% | 15 |
| SHOPIFY INC | [SHOP](https://holderbook.com/stocks/SHOP/) | $31.8M | 277,949 | 0.7% | 26 |
| CGI INC | [GIB](https://holderbook.com/stocks/GIB/) | $31.4M | 486,672 | 0.7% | 30 |
| AMERICAN ELEC PWR CO INC | [AEP](https://holderbook.com/stocks/AEP/) | $30.2M | 220,649 | 0.7% | 20 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $29.7M | 118,057 | 0.7% | 28 |
| BANK MONTREAL MEDIUM | [BMO](https://holderbook.com/stocks/BMO/) | $28.9M | 163,965 | 0.7% | 43 |
| ANALOG DEVICES INC | [ADI](https://holderbook.com/stocks/ADI/) | $28.6M | 71,999 | 0.7% | 40 |
| MCKESSON CORP | [MCK](https://holderbook.com/stocks/MCK/) | $28.6M | 37,792 | 0.7% | 17 |
| BANK NOVA SCOTIA B C | [BNS](https://holderbook.com/stocks/BNS/) | $28.4M | 326,993 | 0.7% | 64 |
| UNION PAC CORP | [UNP](https://holderbook.com/stocks/UNP/) | $28.4M | 104,361 | 0.7% | 45 |
| SUN LIFE FINANCIAL INC. | [SLF](https://holderbook.com/stocks/SLF/) | $28.1M | 358,349 | 0.7% | 55 |
| COLGATE PALMOLIVE CO | [CL](https://holderbook.com/stocks/CL/) | $27.7M | 302,329 | 0.6% | 10 |
| TRANE TECHNOLOGIES PLC | [TT](https://holderbook.com/stocks/TT/) | $27.6M | 56,128 | 0.6% | 26 |
| ISHARES TR | [IEFA](https://holderbook.com/stocks/IEFA/) | $27.5M | 284,870 | 0.6% | 1 |
| FRANCO NEV CORP | [FNV](https://holderbook.com/stocks/FNV/) | $27.1M | 130,157 | 0.6% | 26 |
| SYNOPSYS INC | [SNPS](https://holderbook.com/stocks/SNPS/) | $24.7M | 55,308 | 0.6% | 10 |
| MAGNA INTL INC | [MGA](https://holderbook.com/stocks/MGA/) | $24.4M | 371,516 | 0.6% | 62 |
| CANADIAN IMPERIAL BANK OF CO | [CM](https://holderbook.com/stocks/CM/) | $24.2M | 210,159 | 0.6% | 68 |
| TRAVELERS COMPANIES INC | [TRV](https://holderbook.com/stocks/TRV/) | $23.7M | 71,736 | 0.6% | 40 |
| DEERE & CO | [DE](https://holderbook.com/stocks/DE/) | $23.6M | 37,211 | 0.5% | 6 |
| APTIV PLC | [APTV](https://holderbook.com/stocks/APTV/) | $23.4M | 381,929 | 0.5% | 7 |
| CINTAS CORP | [CTAS](https://holderbook.com/stocks/CTAS/) | $23.3M | 137,123 | 0.5% | 12 |
| FORTIS INC | [FTS](https://holderbook.com/stocks/FTS/) | $23.3M | 406,892 | 0.5% | 39 |
| ASML HLDG NV | [ASML](https://holderbook.com/stocks/ASML/) | $23.0M | 11,583 | 0.5% | 3 |
| AMEREN CORP | [AEE](https://holderbook.com/stocks/AEE/) | $22.8M | 201,428 | 0.5% | 7 |
| MARVELL TECHNOLOGY INC | [MRVL](https://holderbook.com/stocks/MRVL/) | $22.1M | 74,312 | 0.5% | 6 |
| RENAISSANCERE HLDGS LTD | [RNR](https://holderbook.com/stocks/RNR/) | $22.1M | 69,599 | 0.5% | 8 |
| VERALTO CORP | [VLTO](https://holderbook.com/stocks/VLTO/) | $21.9M | 247,471 | 0.5% | 11 |
| STANTEC INC | [STN](https://holderbook.com/stocks/STN/) | $21.7M | 315,321 | 0.5% | 49 |
| HUBBELL INC | [HUBB](https://holderbook.com/stocks/HUBB/) | $21.1M | 40,264 | 0.5% | 42 |
| SUNOCOCORP LLC | [SUNC](https://holderbook.com/stocks/SUNC/) | $20.9M | 309,107 | 0.5% | 3 |
| COMPANHIA DE SANEAMENTO BASI | [SBS](https://holderbook.com/stocks/SBS/) | $20.6M | 3,570,566 | 0.5% | 1 |
| AGNICO EAGLE MINES LTD | [AEM](https://holderbook.com/stocks/AEM/) | $20.2M | 130,449 | 0.5% | 31 |
| MOTOROLA SOLUTIONS INC | [MSI](https://holderbook.com/stocks/MSI/) | $19.6M | 47,180 | 0.5% | 12 |
| TFI INTERNATIONAL INC | [TFII](https://holderbook.com/stocks/TFII/) | $19.5M | 135,706 | 0.5% | 25 |
| PROCTER & GAMBLE CO | [PG](https://holderbook.com/stocks/PG/) | $19.5M | 132,991 | 0.5% | 40 |
| SHELL PLC | [SHEL](https://holderbook.com/stocks/SHEL/) | $19.5M | 251,147 | 0.5% | 18 |
| CANADIAN NAT RES LTD MED TER | [CNQ](https://holderbook.com/stocks/CNQ/) | $19.1M | 483,088 | 0.4% | 68 |
| EMERA INC | [EMA](https://holderbook.com/stocks/EMA/) | $18.6M | 350,465 | 0.4% | 5 |
| MANULIFE FINL CORP | [MFC](https://holderbook.com/stocks/MFC/) | $18.5M | 455,775 | 0.4% | 68 |
| TC ENERGY CORP | [TRP](https://holderbook.com/stocks/TRP/) | $18.4M | 278,098 | 0.4% | 15 |
| RB GLOBAL INC | [RBA](https://holderbook.com/stocks/RBA/) | $18.0M | 155,065 | 0.4% | 8 |
| ITRON INC | [ITRI](https://holderbook.com/stocks/ITRI/) | $18.0M | 208,129 | 0.4% | 5 |
| SUNCOR ENERGY INC NEW | [SU](https://holderbook.com/stocks/SU/) | $18.0M | 334,549 | 0.4% | 68 |
| S&P GLOBAL INC | [SPGI](https://holderbook.com/stocks/SPGI/) | $17.8M | 43,744 | 0.4% | 15 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $17.8M | 31,518 | 0.4% | 55 |
| XYLEM INC | [XYL](https://holderbook.com/stocks/XYL/) | $17.6M | 149,084 | 0.4% | 10 |
| YUM BRANDS INC | [YUM](https://holderbook.com/stocks/YUM/) | $17.5M | 109,398 | 0.4% | 11 |
| ROGERS COMMUNICATIONS INC | [RCI](https://holderbook.com/stocks/RCI/) | $17.3M | 530,299 | 0.4% | 68 |
| MEDTRONIC PLC | [MDT](https://holderbook.com/stocks/MDT/) | $16.5M | 210,858 | 0.4% | 10 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $16.4M | 45,918 | 0.4% | 43 |
| AUTOZONE INC | [AZO](https://holderbook.com/stocks/AZO/) | $16.4M | 5,119 | 0.4% | 40 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $15.9M | 38,203 | 0.4% | 40 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $15.7M | 114,947 | 0.4% | 12 |
| EATON CORP PLC | [ETN](https://holderbook.com/stocks/ETN/) | $15.5M | 36,478 | 0.4% | 12 |
| WABTEC | [WAB](https://holderbook.com/stocks/WAB/) | $15.3M | 56,636 | 0.4% | 14 |
| CBOE GLOBAL MKTS INC | [CBOE](https://holderbook.com/stocks/CBOE/) | $15.1M | 62,376 | 0.4% | 15 |
| AUTODESK INC | [ADSK](https://holderbook.com/stocks/ADSK/) | $14.4M | 74,225 | 0.3% | 34 |
| MONSTER BEVERAGE CORP NEW | [MNST](https://holderbook.com/stocks/MNST/) | $14.2M | 147,221 | 0.3% | 5 |
| MARSH & MCLENNAN COS INC | [MRSH](https://holderbook.com/stocks/MRSH/) | $14.0M | 83,923 | 0.3% | 22 |
| TE CONNECTIVITY PLC | [TEL](https://holderbook.com/stocks/TEL/) | $13.9M | 69,043 | 0.3% | 8 |
| BRP INC | [DOO](https://holderbook.com/stocks/DOO/) | $13.9M | 226,931 | 0.3% | 25 |
| QXO INC | [QXO](https://holderbook.com/stocks/QXO/) | $13.2M | 764,707 | 0.3% | 2 |
| VANGUARD WHITEHALL FDS | [VYM](https://holderbook.com/stocks/VYM/) | $12.4M | 78,220 | 0.3% | 1 |
| THERMO FISHER SCIENTIFIC INC | [TMO](https://holderbook.com/stocks/TMO/) | $12.0M | 23,999 | 0.3% | 43 |
| NUTRIEN LTD | [NTR](https://holderbook.com/stocks/NTR/) | $11.8M | 188,277 | 0.3% | 34 |
| WEST FRASER TIMBER CO LTD | [WFG](https://holderbook.com/stocks/WFG/) | $11.7M | 172,629 | 0.3% | 22 |
| DIGITAL RLTY TR INC | [DLR](https://holderbook.com/stocks/DLR/) | $11.3M | 62,729 | 0.3% | 2 |
| CENOVUS ENERGY INC | [CVE](https://holderbook.com/stocks/CVE/) | $11.0M | 444,367 | 0.3% | 67 |
| AUTOMATIC DATA PROCESSING IN | [ADP](https://holderbook.com/stocks/ADP/) | $10.9M | 48,839 | 0.3% | 32 |
| WHEATON PRECIOUS METALS CORP | [WPM](https://holderbook.com/stocks/WPM/) | $10.8M | 95,928 | 0.3% | 31 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +9.5% | +14.8% | -5.4% | 100% |
| Q1 2026 | -2.7% | -4.6% | +1.9% | 100% |
| Q4 2025 | +1.4% | +2.4% | -0.9% | 100% |
| Q3 2025 | +5.3% | +7.8% | -2.5% | 100% |
| Q2 2025 | +8.7% | +10.5% | -1.7% | 100% |
| Q1 2025 | -2.3% | -4.6% | +2.3% | 100% |
| Q4 2024 | -2.3% | +2.1% | -4.5% | 100% |
| Q3 2024 | +7.4% | +5.4% | +2.0% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $4.3B | 522 |
| Q1 2026 | $4.3B | 526 |
| Q4 2025 | $4.4B | 501 |
| Q3 2025 | $4.2B | 500 |
| Q2 2025 | $4.0B | 490 |
| Q1 2025 | $3.7B | 470 |
| Q4 2024 | $3.7B | 494 |
| Q3 2024 | $3.8B | 506 |
| Q2 2024 | $3.5B | 484 |
| Q1 2024 | $3.5B | 485 |
| Q4 2023 | $3.3B | 372 |
| Q3 2023 | $3.0B | 385 |