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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
(+4%)
Cap. Flow
-$80.5M
Cap. Flow
% of AUM
-7.54%
Top 10 Holdings %
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 |
Canadian Natural Resources
CNQ
|
+$17.4M |
| 3 |
Telus
TU
|
+$14.9M |
| 4 |
TJX Companies
TJX
|
+$12.2M |
| 5 |
Scotiabank
BNS
|
+$12M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
UnitedHealth
UNH
|
+$24.3M |
| 2 |
Shopify
SHOP
|
+$20.6M |
| 3 |
Casey's General Stores
CASY
|
+$20M |
| 4 |
Suncor Energy
SU
|
+$15.7M |
| 5 |
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 | |
|---|---|---|---|---|---|---|
101
Nabors Industries
NBR
$1.3B
| $650K | 0.06% |
23,200
| – | – |
|
102
Highwoods Properties
HIW
$3.39B
| $596K | 0.06% |
19,160
-640
| -3% | -$18.8K |
|
103
Helmerich & Payne
HP
$4.16B
| $393K | 0.04% |
25,900
| – | – |
|
|
HPP
104
Hudson Pacific Properties
HPP
$620M
| $392K | 0.04% |
+20,443
| New | +$332K |
|
105
ATS Corp
ATS
$1.88B
| – | – |
-523,300
| Closed | -$13M |
|
|
DCBO
106
Docebo
DCBO
$601M
| – | – |
-119,000
| Closed | -$3.42M |
|
|
107
Equifax
EFX
$19.2B
| – | – |
-60,000
| Closed | -$14.6M |
|
108
First Industrial Realty Trust
FR
$8.14B
| – | – |
-15,620
| Closed | -$843K |
|
109
lululemon athletica
LULU
$10.6B
| – | – |
-35,300
| Closed | -$9.99M |
|
110
Lamb Weston
LW
$6.53B
| – | – |
-167,300
| Closed | -$8.92M |
|
111
Macerich
MAC
$6.36B
| – | – |
-47,764
| Closed | -$820K |
|
112
Ross Stores
ROST
$71.8B
| – | – |
-79,300
| Closed | -$10.1M |
|
113
Sunrun
RUN
$1.99B
| – | – |
-149,000
| Closed | -$873K |
|
114
Sunstone Hotel Investors
SHO
$2.05B
| – | – |
-59,381
| Closed | -$559K |
|
|
115
Shopify
SHOP
$167B
| – | – |
-216,383
| Closed | -$20.6M |
|
|
116
Suncor Energy
SU
$80.6B
| – | – |
-404,922
| Closed | -$15.7M |
|
117
Sun Communities
SUI
$14B
| – | – |
-10,984
| Closed | -$1.41M |
|
|
118
UnitedHealth
UNH
$337B
| – | – |
-46,400
| Closed | -$24.3M |
|
|
WCC
119
WESCO International
WCC
$16.3B
| – | – |
-75,300
| Closed | -$11.7M |
|
|
PDCO
120
DELISTED
Patterson Companies, Inc.
PDCO
| – | – |
-176,800
| Closed | -$5.52M |
|
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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.