NICOLA WEALTH MANAGEMENT LTD.

CIK

1734493

Location

VANCOUVER, A1

Portfolio Value

Small $831,169,610

Diversification

Diversified

Filing Date

Global Rank

#1,711 / 8,232 ▼ 167

Top Industry

Telecom Services 6.7%

3Y Alpha vs SPY

-4.9%

Period ended 2 months ago

Filed May 7, 2026 · 37d

25 quarters · since Mar 2020

Clone Performance

Jun 2023–Jun 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+56.0%

SPY

+76.5%

Annualised alpha

-4.9%

Max drawdown

−16.9%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

61 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

4.1%

−6.0 pts

Top 5

16.1%

−12.8 pts

Top 10

28.7%

−12.2 pts

HHI

203

Diversified−124

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Technology	21.6%	$179,162,822	14
Industrials	18.0%	$150,010,139	10
Financial Services	14.9%	$124,214,708	8
Communication Services	13.2%	$109,427,396	6
Energy	8.9%	$74,254,825	5
Consumer Cyclical	7.8%	$65,156,527	6
Consumer Defensive	4.6%	$38,255,248	4
Healthcare	4.3%	$35,906,483	4
Real Estate	4.2%	$35,050,214	3
Basic Materials	2.4%	$19,731,248	1

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

16 positions

Ticker	Company	Δ Shares	Shares	Value
INFY	Infosys Ltd	+193,000	1,141,000	$15,414,910
BAM	Brookfield Asset Management Ltd.	+182,000	433,758	$19,280,543
STN	Stantec Inc	+138,200	202,800	$17,521,920
HDB	Hdfc Bank Ltd	+135,000	538,000	$13,385,440
TTE	TotalEnergies SE	+113,000	257,000	$23,381,860
PRGO	PERRIGO Co plc	+83,000	364,000	$3,909,360
NFLX	Netflix Inc	+55,700	222,700	$21,412,605
TTEK	Tetra Tech Inc	+46,000	411,000	$12,379,320
FSV	FirstService Corp	+35,700	86,090	$11,961,344
SLF	Sun Life Financial Inc	+27,500	394,400	$24,673,664
WCN	Waste Connections, Inc.	+23,200	208,600	$33,884,984
GOOGL	Alphabet Inc.	+17,500	45,000	$12,940,200
NOW	ServiceNow, Inc.	+13,500	151,500	$15,839,325
SNPS	Synopsys Inc	+11,500	40,700	$16,136,736
AVGO	Broadcom Inc.	+6,000	37,500	$11,606,625
META	Meta Platforms, Inc.	+1,500	33,200	$18,994,716
No positions match the current search.

Trimmed

Positions the filer reduced

20 positions

Ticker	Company	Δ Shares	Shares	Value
PBA	Pembina Pipeline Corp	−323,300	664,500	$29,743,020
TD	Toronto Dominion Bank	−179,500	183,802	$17,150,564
T	At&T Inc.	−158,000	758,400	$21,986,016
CNQ	Canadian Natural Resources Ltd	−96,800	336,100	$16,378,153
WMT	Walmart Inc.	−71,000	105,200	$13,074,256
CRI	Carters Inc	−38,000	141,100	$5,045,736
IONS	Ionis Pharmaceuticals Inc	−35,000	52,000	$3,904,680
CNI	Canadian National Railway Co	−30,200	168,600	$17,327,022
UNP	Union Pacific Corp	−25,000	87,000	$21,107,940
BHE	Benchmark Electronics Inc	−23,000	101,600	$5,695,696
AMZN	Amazon Com Inc	−22,000	83,800	$17,453,026
TSM	Taiwan Semiconductor Manufacturing Co Ltd	−20,000	47,000	$15,883,650
DE	Deere & Co	−19,400	26,100	$14,702,130
H	Hyatt Hotels Corp	−18,000	105,500	$15,169,845
PLXS	Plexus Corp	−17,000	29,000	$5,873,660
TFII	TFI International Inc.	−15,000	111,600	$12,123,108
MSFT	Microsoft Corp	−13,500	53,060	$19,641,220
COKE	Coca-Cola Consolidated, Inc.	−11,000	29,600	$5,675,504
MSA	MSA Safety Inc	−7,000	65,375	$10,718,231
SANM	Sanmina Corp	−5,000	50,100	$6,494,964
No positions match the current search.

New Positions

Positions the filer opened this quarter

3 positions

Ticker	Company	Shares	Value
AAPL	Apple Inc.	61,000	$15,481,190
MCO	Moodys Corp /De/	25,100	$10,949,875
MSI	Motorola Solutions, Inc.	23,000	$9,981,310
No positions match the current search.

Sold Out

Positions the filer fully exited

6 positions

Ticker	Company	Shares	Value
TRP	Tc Energy Corp	2,000,000	$110,020,000
BNS	Bank Of Nova Scotia	1,361,500	$100,328,935
CP	Canadian Pacific Kansas City Ltd/Cn	141,500	$10,418,645
CPRT	Copart Inc	255,000	$9,983,250
IT	Gartner Inc	35,500	$8,955,940
WSO	Watsco Inc	8,000	$2,695,600
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

61 positions · $831,169,610 total · as of Mar 31, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology

Showing 1–50 of 61 positions by value · page 1 of 2

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
WCN	Waste Connections, Inc. Industrials	Added	208,600	+23,200	$33,884,984	+4.2%	4.08%
PBA	Pembina Pipeline Corp Energy	Reduced	664,500	-323,300	$29,743,020	−20.9%	3.58%
SLF	Sun Life Financial Inc Financial Services	Added	394,400	+27,500	$24,673,664	+7.8%	2.97%
TTE	TotalEnergies SE Energy	Added	257,000	+113,000	$23,381,860	+148.2%	2.81%
T	At&T Inc. Communication Services	Reduced	758,400	-158,000	$21,986,016	−3.4%	2.65%
V	Visa Inc. Financial Services	Held	71,000	0	$21,459,040	−13.8%	2.58%
NVDA	Nvidia Corp Technology	Held	123,000	0	$21,451,200	−6.5%	2.58%
NFLX	Netflix Inc Communication Services	Added	222,700	+55,700	$21,412,605	+36.8%	2.58%
UNP	Union Pacific Corp Industrials	Reduced	87,000	-25,000	$21,107,940	−18.5%	2.54%
ISRG	Intuitive Surgical Inc Healthcare	Held	42,900	0	$19,776,471	−18.6%	2.38%
LIN	Linde PLC Basic Materials	Held	39,800	0	$19,731,248	+16.3%	2.37%
MSFT	Microsoft Corp Technology	Reduced	53,060	-13,500	$19,641,220	−39.0%	2.36%
BAM	Brookfield Asset Management Ltd. Financial Services	Added	433,758	+182,000	$19,280,543	+46.2%	2.32%
META	Meta Platforms, Inc. Communication Services	Added	33,200	+1,500	$18,994,716	−9.2%	2.29%
BCE	Bce Inc Communication Services	Held	729,000	0	$18,399,960	+6.0%	2.21%
STN	Stantec Inc Industrials	Added	202,800	+138,200	$17,521,920	+187.4%	2.11%
AMZN	Amazon Com Inc Consumer Cyclical	Reduced	83,800	-22,000	$17,453,026	−28.5%	2.10%
CNI	Canadian National Railway Co Industrials	Reduced	168,600	-30,200	$17,327,022	−11.8%	2.08%
TD	Toronto Dominion Bank Financial Services	Reduced	183,802	-179,500	$17,150,564	−49.9%	2.06%
CNQ	Canadian Natural Resources Ltd Energy	Reduced	336,100	-96,800	$16,378,153	+11.8%	1.97%
SNPS	Synopsys Inc Technology	Added	40,700	+11,500	$16,136,736	+17.7%	1.94%
TSM	Taiwan Semiconductor Manufacturing Co Ltd Technology	Reduced	47,000	-20,000	$15,883,650	−22.0%	1.91%
NOW	ServiceNow, Inc. Technology	Added	151,500	+13,500	$15,839,325	−25.1%	1.91%
TU	Telus Corp Communication Services	Held	1,223,219	0	$15,693,899	−2.6%	1.89%
AAPL	Apple Inc. Technology	NEW	61,000	NEW	$15,481,190	NEW	1.86%
INFY	Infosys Ltd Technology	Added	1,141,000	+193,000	$15,414,910	−8.8%	1.85%
H	Hyatt Hotels Corp Consumer Cyclical	Reduced	105,500	-18,000	$15,169,845	−23.4%	1.83%
DE	Deere & Co Industrials	Reduced	26,100	-19,400	$14,702,130	−30.6%	1.77%
HDB	Hdfc Bank Ltd Financial Services	Added	538,000	+135,000	$13,385,440	−9.1%	1.61%
CCK	Crown Holdings, Inc. Consumer Cyclical	Held	132,000	0	$13,233,000	−2.6%	1.59%
WMT	Walmart Inc. Consumer Defensive	Reduced	105,200	-71,000	$13,074,256	−33.4%	1.57%
GOOGL	Alphabet Inc. Communication Services	Added	45,000	+17,500	$12,940,200	+50.3%	1.56%
KO	Coca Cola Co Consumer Defensive	Held	170,000	0	$12,928,500	+8.8%	1.56%
TTEK	Tetra Tech Inc Industrials	Added	411,000	+46,000	$12,379,320	+1.1%	1.49%
TFII	TFI International Inc. Industrials	Reduced	111,600	-15,000	$12,123,108	−7.3%	1.46%
FSV	FirstService Corp Real Estate	Added	86,090	+35,700	$11,961,344	+52.6%	1.44%
PLD	Prologis, Inc. Real Estate	Held	89,000	0	$11,764,020	+3.5%	1.42%
AVGO	Broadcom Inc. Technology	Added	37,500	+6,000	$11,606,625	+6.5%	1.40%
CUBE	CubeSmart Real Estate	Held	309,000	0	$11,324,850	+1.7%	1.36%
MCO	Moodys Corp /De/ Financial Services	NEW	25,100	NEW	$10,949,875	NEW	1.32%
ADBE	Adobe Inc. Technology	Held	44,200	0	$10,744,136	−30.5%	1.29%
MSA	MSA Safety Inc Industrials	Reduced	65,375	-7,000	$10,718,231	−7.5%	1.29%
MSI	Motorola Solutions, Inc. Technology	NEW	23,000	NEW	$9,981,310	NEW	1.20%
AJG	Arthur J. Gallagher & Co. Financial Services	Held	42,900	0	$9,291,282	−16.3%	1.12%
TJX	Tjx Companies Inc /De/ Consumer Cyclical	Held	56,000	0	$8,943,200	+4.0%	1.08%
GIB	Cgi Inc Technology	Held	122,000	0	$8,918,200	−20.8%	1.07%
IDXX	Idexx Laboratories Inc /De Healthcare	Held	14,800	0	$8,315,972	−16.9%	1.00%
AMG	Affiliated Managers Group, Inc. Financial Services	Held	29,000	0	$8,024,300	−4.0%	0.97%
EPC	EDGEWELL PERSONAL CARE Co Consumer Defensive	Held	308,200	0	$6,576,988	+25.2%	0.79%
SANM	Sanmina Corp Technology	Reduced	50,100	-5,000	$6,494,964	−21.5%	0.78%