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NWM

Nicola Wealth Management Portfolio holdings

AUM $833M
1-Year Est. Return 20.94%
This Fund
S&P 500
This Quarter Est. Return
-0.96%
1 Year Est. Return
+20.94%
3 Year Est. Return
+48.3%
5 Year Est. Return
+61.97%
10 Year Est. Return
–
AUM
$833M
AUM Growth
-$266M
Cap. Flow
-$245M
Cap. Flow %
-29.36%
Top 10 Hldgs %
28.76%
Holding
68
New
3
Increased
16
Reduced
21
Closed
6

Top Buys

Rank Stock Value
1
AAPL icon
Apple
AAPL
+$15.9M
2
STN icon
Stantec
STN
+$13M
3
MCO icon
Moody's
MCO
+$11.9M
4
MSI icon
Motorola Solutions
MSI
+$9.96M
5
BAM icon
Brookfield Asset Management
BAM
+$8.89M

Top Sells

Rank Stock Value
1
TRP icon
TC Energy
TRP
+$110M
2
BNS icon
Scotiabank
BNS
+$100M
3
TD icon
Toronto Dominion Bank
TD
+$17.1M
4
PBA icon
Pembina Pipeline
PBA
+$13.7M
5
DE icon
Deere & Co
DE
+$10.9M

Sector Composition

Rank Sector Weight
1 Technology 21.51%
2 Industrials 18.01%
3 Financials 14.92%
4 Communication Services 13.14%
5 Energy 8.99%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
WCN
1
Waste Connections
WCN
$42.2B
$33.9M 4.07%
208,600
+23,200
+13% +$3.87M
PBA icon
2
Pembina Pipeline
PBA
$28.4B
$29.7M 3.57%
664,500
-323,300
-33% -$13.7M
SLF icon
3
Sun Life Financial
SLF
$46B
$24.7M 2.97%
394,400
+27,500
+7% +$1.76M
TTE icon
4
TotalEnergies
TTE
$195B
$24M 2.89%
257,000
+113,000
+78% +$8.63M
T icon
5
AT&T
T
$159B
$22M 2.64%
758,400
-158,000
-17% -$4.22M
V icon
6
Visa
V
$684B
$21.5M 2.58%
71,000
– –
NVDA icon
7
NVIDIA
NVDA
$4.86T
$21.5M 2.58%
123,000
– –
NFLX icon
8
Netflix
NFLX
$299B
$21.4M 2.57%
222,700
+55,700
+33% +$4.91M
UNP icon
9
Union Pacific
UNP
$174B
$21.1M 2.53%
87,000
-25,000
-22% -$6.12M
ISRG icon
10
Intuitive Surgical
ISRG
$127B
$19.8M 2.37%
42,900
– –
LIN icon
11
Linde
LIN
$221B
$19.7M 2.37%
39,800
– –
MSFT icon
12
Microsoft
MSFT
$3.45T
$19.6M 2.36%
53,060
-13,500
-20% -$5.65M
BAM icon
13
Brookfield Asset Management
BAM
$77.3B
$19.3M 2.31%
433,758
+182,000
+72% +$8.89M
META icon
14
Meta Platforms (Facebook)
META
$1.42T
$19M 2.28%
33,200
+1,500
+5% +$961K
BCE icon
15
BCE
BCE
$20.2B
$18.4M 2.21%
729,000
– –
STN icon
16
Stantec
STN
$8.04B
$17.5M 2.1%
202,800
+138,200
+214% +$13M
AMZN icon
17
Amazon
AMZN
$2.92T
$17.5M 2.1%
83,800
-22,000
-21% -$4.84M
CNI icon
18
Canadian National Railway
CNI
$76.9B
$17.3M 2.08%
168,600
-30,200
-15% -$3.11M
TD icon
19
Toronto Dominion Bank
TD
$198B
$17.2M 2.06%
183,802
-179,500
-49% -$17.1M
CNQ icon
20
Canadian Natural Resources
CNQ
$99.4B
$16.4M 1.97%
336,100
-96,800
-22% -$3.98M
SNPS icon
21
Synopsys
SNPS
$74.4B
$16.1M 1.94%
40,700
+11,500
+39% +$5.2M
TSM icon
22
TSMC
TSM
$2.1T
$15.9M 1.91%
47,000
-20,000
-30% -$6.88M
NOW icon
23
ServiceNow
NOW
$115B
$15.8M 1.9%
151,500
+13,500
+10% +$1.59M
TU icon
24
Telus
TU
$14.9B
$15.7M 1.89%
1,223,219
– –
AAPL icon
25
Apple
AAPL
$4.54T
$15.5M 1.86%
+61,000
New +$15.9M
1
2 3

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AWA
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SEM
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IPAM
ICICI Prudential Asset Management Mumbai, India $833M AUM 15.31% 1-Year Est. Return
FM
Family Management New York $834M AUM 20.83% 1-Year Est. Return
RAM
Ramirez Asset Management New York $832M AUM 33.23% 1-Year Est. Return
MAP
Managed Asset Portfolios Rochester, Michigan $834M AUM 33.97% 1-Year Est. Return
SCM
Shenkman Capital Management New York $831M AUM 0.26% 1-Year Est. Return
DLP
De Lisle Partners Poole, United Kingdom $836M AUM 58.41% 1-Year Est. Return

Nicola Wealth Management's Q1 2026 Portfolio in Review

As of Q1 2026, Nicola Wealth Management held 68 positions worth $833M, down 24% from $1.1B the previous quarter. Its ten largest holdings account for 29% of the portfolio.

Nicola Wealth Management withdrew a net $245M in Q1 2026, closing 6 positions and reducing 21 holdings. Its most notable exit was TC Energy, an estimated $110M position sold in full.

By sector, the portfolio is most concentrated in Technology at 22% of assets, up from 18% a quarter earlier, followed by Industrials and Financials.

Against the trend, Nicola Wealth Management opened a new position in Apple worth $15.5M.

  • Nicola Wealth Management's largest Q1 2026 buy was Apple: 61,000 shares worth $15.5M.
  • Nicola Wealth Management added most to Stantec in Q1 2026, an estimated $13M increase.
  • Nicola Wealth Management's biggest Q1 2026 reduction was Toronto Dominion Bank, cutting an estimated $17.1M.
  • Nicola Wealth Management fully exited TC Energy in Q1 2026, selling an estimated $110M.
  • Nicola Wealth Management's ten largest holdings make up 29% of its $833M portfolio in Q1 2026.
  • Nicola Wealth Management opened 3 new positions and closed 6 in Q1 2026.
  • Nicola Wealth Management's portfolio value fell 24% quarter-over-quarter to $833M.

Based on Nicola Wealth Management's 13F filing for Q1 2026, filed 7 May 2026.