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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
+2.48%
1 Year Est. Return
+14.24%
3 Year Est. Return
+56.14%
5 Year Est. Return
+64.68%
10 Year Est. Return
–
AUM
$1.1B
AUM Growth
-$24.4M
Cap. Flow
-$37M
Cap. Flow %
-3.37%
Top 10 Hldgs %
40.65%
Holding
69
New
4
Increased
13
Reduced
17
Closed
4

Top Buys

Rank Stock Value
1
BNS icon
Scotiabank
BNS
+$57.4M
2
TTEK icon
Tetra Tech
TTEK
+$12.3M
3
TTE icon
TotalEnergies
TTE
+$9.11M
4
IT icon
Gartner
IT
+$8.54M
5
PBA icon
Pembina Pipeline
PBA
+$8.32M

Top Sells

Rank Stock Value
1
CM icon
Canadian Imperial Bank of Commerce
CM
+$75.9M
2
TRP icon
TC Energy
TRP
+$16.2M
3
TU icon
Telus
TU
+$12.7M
4
ISRG icon
Intuitive Surgical
ISRG
+$6.87M
5
PLD icon
Prologis
PLD
+$6.61M

Sector Composition

Rank Sector Weight
1 Financials 20.92%
2 Technology 17.67%
3 Industrials 16.06%
4 Energy 15.81%
5 Communication Services 9.23%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ADBE icon
26
Adobe
ADBE
$102B
$15.5M 1.41%
44,200
– –
HDB icon
27
HDFC Bank
HDB
$122B
$14.7M 1.34%
403,000
+91,000
+29% +$3.27M
CNQ icon
28
Canadian Natural Resources
CNQ
$94.2B
$14.7M 1.33%
432,900
-143,000
-25% -$4.64M
SNPS icon
29
Synopsys
SNPS
$77.9B
$13.7M 1.25%
29,200
– –
CCK icon
30
Crown Holdings
CCK
$13.2B
$13.6M 1.24%
132,000
– –
BAM icon
31
Brookfield Asset Management
BAM
$84.3B
$13.2M 1.2%
251,758
+35,200
+16% +$1.89M
TFII icon
32
TFI International
TFII
$11.3B
$13.1M 1.19%
126,600
+45,600
+56% +$4.24M
TTEK icon
33
Tetra Tech
TTEK
$8.87B
$12.2M 1.11%
+365,000
New +$12.3M
KO icon
34
Coca-Cola
KO
$372B
$11.9M 1.08%
170,000
-15,000
-8% -$1.05M
MSA icon
35
Mine Safety
MSA
$7.49B
$11.6M 1.05%
72,375
– –
PLD icon
36
Prologis
PLD
$130B
$11.4M 1.03%
89,000
-53,000
-37% -$6.61M
GIB icon
37
CGI
GIB
$15.2B
$11.3M 1.03%
122,000
– –
CUBE icon
38
CubeSmart
CUBE
$9.43B
$11.1M 1.01%
309,000
– –
AJG icon
39
Arthur J. Gallagher & Co
AJG
$63.8B
$11.1M 1.01%
42,900
– –
AVGO icon
40
Broadcom
AVGO
$2.02T
$10.9M 0.99%
31,500
– –
CP icon
41
Canadian Pacific Kansas City
CP
$79.2B
$10.4M 0.95%
141,500
– –
HYG icon
42
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$16.6B
$10.1M 0.92%
125,000
– –
IDXX icon
43
Idexx Laboratories
IDXX
$46B
$10M 0.91%
14,800
-4,000
-21% -$2.72M
CPRT icon
44
Copart
CPRT
$26.5B
$9.98M 0.91%
255,000
– –
IT icon
45
Gartner
IT
$11.6B
$8.96M 0.81%
+35,500
New +$8.54M
GOOGL icon
46
Alphabet (Google) Class A
GOOGL
$4.38T
$8.61M 0.78%
27,500
-21,000
-43% -$6M
TJX icon
47
TJX Companies
TJX
$177B
$8.6M 0.78%
56,000
-13,000
-19% -$1.92M
AMG icon
48
Affiliated Managers Group
AMG
$9.89B
$8.36M 0.76%
29,000
– –
SANM icon
49
Sanmina
SANM
$11B
$8.27M 0.75%
55,100
– –
TTE icon
50
TotalEnergies
TTE
$191B
$8M 0.73%
+144,000
New +$9.11M
1
2
3

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RWM
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EI
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MCM
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WCM
Wallace Capital Management Dallas, Texas $871M AUM 13.69% 1-Year Est. Return
OMG
One Madison Group New York $866M AUM 33.81% 1-Year Est. Return
F1I
Fund 1 Investments Rincon, Puerto Rico $872M AUM 50.95% 1-Year Est. Return

Nicola Wealth Management's Q4 2025 Portfolio in Review

As of Q4 2025, Nicola Wealth Management held 69 positions worth $1.1B, down 2.2% from $1.12B the previous quarter. Its ten largest holdings account for 41% of the portfolio.

Nicola Wealth Management withdrew a net $37M in Q4 2025, closing 4 positions and reducing 17 holdings. Its most notable exit was Canadian Imperial Bank of Commerce, an estimated $75.9M position sold in full.

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

Against the trend, Nicola Wealth Management opened a new position in Tetra Tech worth $12.2M.

  • Nicola Wealth Management's largest Q4 2025 buy was Tetra Tech: 365,000 shares worth $12.2M.
  • Nicola Wealth Management added most to Scotiabank in Q4 2025, an estimated $57.4M increase.
  • Nicola Wealth Management's biggest Q4 2025 reduction was TC Energy, cutting an estimated $16.2M.
  • Nicola Wealth Management fully exited Canadian Imperial Bank of Commerce in Q4 2025, selling an estimated $75.9M.
  • Nicola Wealth Management's ten largest holdings make up 41% of its $1.1B portfolio in Q4 2025.
  • Nicola Wealth Management opened 4 new positions and closed 4 in Q4 2025.
  • Nicola Wealth Management's portfolio value fell 2.2% quarter-over-quarter to $1.1B.

Based on Nicola Wealth Management's 13F filing for Q4 2025, filed 9 Feb 2026.