Latest NICOLA WEALTH MANAGEMENT LTD. Stock Portfolio

$833Million– No. of Holdings #62

NICOLA WEALTH MANAGEMENT LTD. Performance:

2026 Q1: -2.31%YTD: -2.31%2025: 2.29%

Performance for 2026 Q1 is -2.31%, and YTD is -2.31%, and 2025 is 2.29%.

About NICOLA WEALTH MANAGEMENT LTD. and 13F Hedge Fund Stock Holdings

NICOLA WEALTH MANAGEMENT LTD. is a hedge fund based in Canada. On 2026-05-07, the fund reported it's updated stock portfolio. In the 13F Holdings report, NICOLA WEALTH MANAGEMENT LTD. reported an equity portfolio of $833 Millions as of 31 Mar, 2026.

The top stock holdings of NICOLA WEALTH MANAGEMENT LTD. are WCN, PBA, SLF. The fund has invested 4.1% of it's portfolio in WASTE CONNECTIONS INC and 3.6% of portfolio in PEMBINA PIPELINE CORP.

The fund managers got completely rid off TC ENERGY CORP (TRP), BANK NOVA SCOTIA HALIFAX (BNS) and CANADIAN PACIFIC KANSAS CITY (CP) stocks. They significantly reduced their stock positions in ISHARES TR (AAXJ), TORONTO DOMINION BK ONT (TD) and DEERE & CO (DE). NICOLA WEALTH MANAGEMENT LTD. opened new stock positions in APPLE INC (AAPL), MOODYS CORP (MCO) and MOTOROLA SOLUTIONS INC (MSI). The fund showed a lot of confidence in some stocks as they added substantially to STANTEC INC (STN), TOTALENERGIES SE and BROOKFIELD ASSET MANAGMT LTD (BAM).

NICOLA WEALTH MANAGEMENT LTD. Equity Portfolio Value

Last Reported on: 07 May, 2026

NICOLA WEALTH MANAGEMENT LTD. Annual Return Estimates Vs S&P 500

Our best estimate is that NICOLA WEALTH MANAGEMENT LTD. made a return of -2.31% in the last quarter. In trailing 12 months, it's portfolio return was 12.53%.

Performance
S&P 500

New Buys

Ticker	$ Bought
apple inc	15,481,200
moodys corp	10,949,900
motorola solutions inc	9,981,310

New stocks bought by NICOLA WEALTH MANAGEMENT LTD.

Additions

Ticker	% Inc.
stantec inc	213
totalenergies se	78.47
brookfield asset managmt ltd	72.29
firstservice corp new	70.85
alphabet inc	63.64
synopsys inc	39.38
hdfc bank ltd	33.5
netflix inc.	33.35

Additions to existing portfolio by NICOLA WEALTH MANAGEMENT LTD.

Reductions

Ticker	% Reduced
ishares tr	-89.04
toronto dominion bk ont	-49.41
deere & co	-42.64
walmart inc	-40.3
ionis pharmaceuticals inc	-40.23
plexus corp	-36.96
pembina pipeline corp	-32.73
taiwan semiconductor manufac	-29.85

NICOLA WEALTH MANAGEMENT LTD. reduced stake in above stock

Sold off

Ticker	$ Sold
tc energy corp	-110,147,000
bank nova scotia halifax	-100,430,000
copart inc	-9,983,250
canadian pacific kansas city	-10,419,000
gartner inc	-8,955,940
watsco inc	-2,695,600

NICOLA WEALTH MANAGEMENT LTD. got rid off the above stocks

Sector Distribution

NICOLA WEALTH MANAGEMENT LTD. has about 33.8% of it's holdings in Others sector.

Others
Technology
Industrials
Communication Services
Consumer Cyclical
Financial Services
Consumer Defensive
Healthcare
Real Estate
Basic Materials

Sector	%
Others	33.8
Technology	16.7
Industrials	12.4
Communication Services	9
Consumer Cyclical	7.8
Financial Services	6
Consumer Defensive	4.6
Healthcare	4.3
Real Estate	2.8
Basic Materials	2.4

Market Cap. Distribution

NICOLA WEALTH MANAGEMENT LTD. has about 54.9% of it's portfolio invested in the large-cap and mega-cap stocks.

UNALLOCATED
LARGE-CAP
MEGA-CAP
MID-CAP
SMALL-CAP

Category	%
UNALLOCATED	33.8
LARGE-CAP	27.5
MEGA-CAP	27.4
MID-CAP	9.6
SMALL-CAP	1.6

Stocks belong to which Index?

About 51.4% of the stocks held by NICOLA WEALTH MANAGEMENT LTD. either belong to S&P 500 or RUSSELL 2000 index.

Others
S&P 500
RUSSELL 2000

Index	%
Others	48.6
S&P 500	46.3
RUSSELL 2000	5.1

Top 5 Winners (%)		%
NBR	nabors industries ltd	58.5 %
	totalenergies se	46.3 %
CNQ	canadian nat res ltd med ter	39.0 %
PDS	precision drilling corp	37.1 %
PLXS	plexus corp	30.8 %

Top 5 Winners ($)		$
	totalenergies se	7.6 M
CNQ	canadian nat res ltd med ter	5.7 M
PBA	pembina pipeline corp	5.5 M
DE	deere & co	3.5 M
T	at&t inc	3.5 M

Top 5 Losers (%)		%
NOW	servicenow inc	-30.8 %
ADBE	adobe inc	-30.6 %
HDB	hdfc bank ltd	-29.1 %
INFY	infosys ltd	-22.6 %
MSFT	microsoft corp	-21.1 %

Top 5 Losers ($)		$
NOW	servicenow inc	-7.0 M
MSFT	microsoft corp	-6.8 M
HDB	hdfc bank ltd	-5.5 M
ADBE	adobe inc	-4.7 M
ISRG	intuitive surgical inc	-4.5 M

NICOLA WEALTH MANAGEMENT LTD. Holdings Map

This heatmap illustrates the top 50 positions within the fund's portfolio.

Current Stock Holdings of NICOLA WEALTH MANAGEMENT LTD.

NICOLA WEALTH MANAGEMENT LTD. has 62 stocks in it's portfolio. About 28.8% of the portfolio is in top 10 stocks. NOW proved to be the most loss making stock for the portfolio. was the most profitable stock for NICOLA WEALTH MANAGEMENT LTD. last quarter.

Last Reported on: 07 May, 2026

Ticker	Namesorted ascending	% Portfolio	Shares Held	$ Value	Type	% Change
AAPL	apple inc	1.86	61,000	15,481,200	new

AAXJ	ishares tr	0.13	13,700	1,089,970	reduced	-89.04

ADBE	adobe inc	1.29	44,200	10,744,100	unchanged	0.00

AJG	gallagher arthur j & co	1.11	42,900	9,291,280	unchanged	0.00

AMG	affiliated managers group	0.96	29,000	8,024,300	unchanged	0.00

AMZN	amazon com inc	2.10	83,800	17,453,000	reduced	-20.79

AVGO	broadcom inc	1.39	37,500	11,606,600	added	19.05

BAM	brookfield asset managmt ltd	2.32	433,758	19,281,300	added	72.29

BCE	bce inc	2.21	729,000	18,390,000	unchanged	0.00

BCO	brinks co	0.59	47,600	4,932,790	unchanged	0.00

BHE	benchmark electrs inc	0.68	101,600	5,695,700	reduced	-18.46

BNS	bank nova scotia halifax	0.00	0.00	0.00	sold off	-100

CCK	crown hldgs inc	1.59	132,000	13,233,000	unchanged	0.00

CNI	canadian natl ry co	2.08	168,600	17,349,500	reduced	-15.19

CNQ	canadian nat res ltd med ter	1.97	336,100	16,391,900	reduced	-22.36

COKE	coca cola cons inc	0.68	29,600	5,675,500	reduced	-27.09

CP	canadian pacific kansas city	0.00	0.00	0.00	sold off	-100

CPRT	copart inc	0.00	0.00	0.00	sold off	-100

CRI	carters inc	0.61	141,100	5,045,740	reduced	-21.22

CUBE	cubesmart	1.36	309,000	11,324,800	unchanged	0.00