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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
+14.57%
1 Year Est. Return
+20.94%
3 Year Est. Return
+48.3%
5 Year Est. Return
+61.97%
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
BNS icon
1
Scotiabank
BNS
$106B
$140M 13.14%
2,535,100
+235,100
+10% +$12M
TD icon
2
Toronto Dominion Bank
TD
$196B
$45.4M 4.26%
617,602
+107,600
+21% +$7.02M
MSFT icon
3
Microsoft
MSFT
$2.96T
$36.6M 3.43%
73,560
– –
TU icon
4
Telus
TU
$17.3B
$33M 3.09%
2,053,419
+960,300
+88% +$14.9M
AVGO icon
5
Broadcom
AVGO
$1.82T
$32.7M 3.07%
118,800
-10,000
-8% -$2.17M
META icon
6
Meta Platforms (Facebook)
META
$1.51T
$29.2M 2.73%
39,500
– –
AMZN icon
7
Amazon
AMZN
$2.49T
$25.4M 2.38%
115,800
+22,800
+25% +$4.51M
V icon
8
Visa
V
$703B
$25.2M 2.36%
71,000
– –
WMT icon
9
Walmart Inc
WMT
$909B
$23.5M 2.2%
240,200
– –
NOW icon
10
ServiceNow
NOW
$122B
$22.6M 2.12%
110,000
– –
REET icon
11
iShares Global REIT ETF
REET
$5.17B
$22.3M 2.09%
903,300
-225,000
-20% -$5.45M
DE icon
12
Deere & Co
DE
$166B
$22.1M 2.07%
43,500
– –
WCN
13
Waste Connections
WCN
$43.6B
$21.9M 2.06%
+117,400
New +$22.6M
UNP icon
14
Union Pacific
UNP
$173B
$21.7M 2.03%
94,200
+10,000
+12% +$2.22M
T icon
15
AT&T
T
$167B
$20.5M 1.92%
709,400
-46,000
-6% -$1.27M
GOOGL icon
16
Alphabet (Google) Class A
GOOGL
$4.17T
$20.1M 1.88%
113,900
– –
H icon
17
Hyatt Hotels
H
$17.6B
$19.3M 1.81%
138,500
– –
LIN icon
18
Linde
LIN
$237B
$18.7M 1.75%
39,800
+6,500
+20% +$2.97M
IDXX icon
19
Idexx Laboratories
IDXX
$44.9B
$18.7M 1.75%
34,800
-4,500
-11% -$2.15M
SLF icon
20
Sun Life Financial
SLF
$46B
$18.4M 1.73%
277,300
+103,100
+59% +$6.32M
PLD icon
21
Prologis
PLD
$137B
$18.2M 1.71%
173,544
+15,205
+10% +$1.59M
CNI icon
22
Canadian National Railway
CNI
$78.5B
$18.2M 1.71%
174,600
-65,000
-27% -$6.61M
CNQ icon
23
Canadian Natural Resources
CNQ
$96.5B
$18.1M 1.7%
+575,900
New +$17.4M
CCK icon
24
Crown Holdings
CCK
$13.1B
$18M 1.69%
175,000
– –
ADBE icon
25
Adobe
ADBE
$105B
$17.1M 1.6%
44,200
– –
1
2 3 4 5

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SEM
Suncoast Equity Management Tampa, Florida $833M AUM 11.9% 1-Year Est. Return
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 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.