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NWM

Nicola Wealth Management Portfolio holdings

AUM $868M
1-Year Est. Return 14.24%
This Fund
S&P 500
This Quarter Est. Return
+14.57%
1 Year Est. Return
+14.24%
3 Year Est. Return
+56.14%
5 Year Est. Return
+64.68%
10 Year Est. Return
–
AUM
$1.07B
AUM Growth
+$41.4M
Cap. Flow
-$80.5M
Cap. Flow %
-7.54%
Top 10 Hldgs %
38.79%
Holding
120
New
9
Increased
31
Reduced
33
Closed
16

Top Buys

Rank Stock Value
1
WCN
Waste Connections
WCN
+$22.6M
2
CNQ icon
Canadian Natural Resources
CNQ
+$17.4M
3
TU icon
Telus
TU
+$14.9M
4
TJX icon
TJX Companies
TJX
+$12.2M
5
BNS icon
Scotiabank
BNS
+$12M

Top Sells

Rank Stock Value
1
UNH icon
UnitedHealth
UNH
+$24.3M
2
SHOP icon
Shopify
SHOP
+$20.6M
3
CASY icon
Casey's General Stores
CASY
+$20M
4
SU icon
Suncor Energy
SU
+$15.7M
5
EFX icon
Equifax
EFX
+$14.6M

Sector Composition

Rank Sector Weight
1 Financials 24.88%
2 Technology 17.62%
3 Communication Services 13.62%
4 Industrials 11.46%
5 Consumer Discretionary 8.58%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NFLX icon
26
Netflix
NFLX
$318B
$16.1M 1.51%
120,000
-50,000
-29% -$5.65M
TSM icon
27
TSMC
TSM
$2.17T
$15.2M 1.42%
67,000
– –
ISRG icon
28
Intuitive Surgical
ISRG
$135B
$14.5M 1.36%
26,600
+4,600
+21% +$2.41M
BCE icon
29
BCE
BCE
$21B
$14M 1.31%
632,400
+135,200
+27% +$2.96M
CUBE icon
30
CubeSmart
CUBE
$8.94B
$13.6M 1.28%
320,300
+31,300
+11% +$1.3M
GIB icon
31
CGI
GIB
$14.7B
$12.8M 1.2%
122,000
-12,500
-9% -$1.32M
INFY icon
32
Infosys
INFY
$44.9B
$12.6M 1.18%
680,000
+121,000
+22% +$2.16M
TRP icon
33
TC Energy
TRP
$63.8B
$12.6M 1.18%
257,696
+25,500
+11% +$1.25M
EA
34
DELISTED
Electronic Arts
EA
$12.4M 1.17%
77,900
-59,000
-43% -$8.73M
TJX icon
35
TJX Companies
TJX
$135B
$11.9M 1.11%
+96,000
New +$12.2M
PBA icon
36
Pembina Pipeline
PBA
$27.4B
$11.5M 1.07%
+305,400
New +$11.5M
KO icon
37
Coca-Cola
KO
$378B
$9.2M 0.86%
+130,000
New +$9.26M
HDB icon
38
HDFC Bank
HDB
$115B
$8.82M 0.83%
230,000
-96,000
-29% -$3.48M
NVDA icon
39
NVIDIA
NVDA
$5.17T
$8.37M 0.79%
53,000
– –
KLAC icon
40
KLA
KLAC
$219B
$8.06M 0.76%
90,000
-130,000
-59% -$9.78M
AJG icon
41
Arthur J. Gallagher & Co
AJG
$62.5B
$8M 0.75%
25,000
-7,000
-22% -$2.31M
CP icon
42
Canadian Pacific Kansas City
CP
$77.1B
$7.66M 0.72%
96,400
-58,400
-38% -$4.49M
URI icon
43
United Rentals
URI
$62.6B
$6.93M 0.65%
+9,200
New +$6.15M
STN icon
44
Stantec
STN
$7.91B
$6.43M 0.6%
59,100
– –
SLGN icon
45
Silgan Holdings
SLGN
$4.08B
$5.74M 0.54%
105,900
– –
BAM icon
46
Brookfield Asset Management
BAM
$72.2B
$5.56M 0.52%
100,558
-34,000
-25% -$1.82M
PRGO icon
47
Perrigo
PRGO
$1.88B
$5.42M 0.51%
203,000
– –
SANM icon
48
Sanmina
SANM
$10.5B
$5.39M 0.51%
55,100
– –
CASY icon
49
Casey's General Stores
CASY
$21.8B
$5.31M 0.5%
10,400
-43,500
-81% -$20M
REZI icon
50
Resideo Technologies
REZI
$2.83B
$5.06M 0.47%
229,600
– –
1
2
3 4 5

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TCM
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GC
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CFS
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OP
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PPWP
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FI
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FTF
Freedom Together Foundation New York $867M AUM 20.05% 1-Year Est. Return

Nicola Wealth Management's Q2 2025 Portfolio in Review

As of Q2 2025, Nicola Wealth Management held 120 positions worth $1.07B, up 4% from $1.03B the previous quarter. Its ten largest holdings account for 39% of the portfolio.

Nicola Wealth Management withdrew a net $80.5M in Q2 2025, closing 16 positions and reducing 33 holdings. Its most notable exit was UnitedHealth, an estimated $24.3M position sold in full.

By sector, the portfolio is most concentrated in Financials at 25% of assets, up from 21% a quarter earlier, followed by Technology and Communication Services.

Against the trend, Nicola Wealth Management opened a new position in Waste Connections worth $21.9M.

  • Nicola Wealth Management's largest Q2 2025 buy was Waste Connections: 117,400 shares worth $21.9M.
  • Nicola Wealth Management added most to Telus in Q2 2025, an estimated $14.9M increase.
  • Nicola Wealth Management's biggest Q2 2025 reduction was Casey's General Stores, cutting an estimated $20M.
  • Nicola Wealth Management fully exited UnitedHealth in Q2 2025, selling an estimated $24.3M.
  • Nicola Wealth Management's ten largest holdings make up 39% of its $1.07B portfolio in Q2 2025.
  • Nicola Wealth Management opened 9 new positions and closed 16 in Q2 2025.
  • Nicola Wealth Management's portfolio value rose 4% quarter-over-quarter to $1.07B.

Based on Nicola Wealth Management's 13F filing for Q2 2025, filed 11 Aug 2025.