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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
+4%
1 Year Est. Return
+20.94%
3 Year Est. Return
+48.3%
5 Year Est. Return
+61.97%
10 Year Est. Return
–
AUM
$1.12B
AUM Growth
+$56.7M
Cap. Flow
+$20.4M
Cap. Flow %
1.81%
Top 10 Hldgs %
40.73%
Holding
112
New
8
Increased
24
Reduced
12
Closed
47

Top Buys

Rank Stock Value
1
TRP icon
TC Energy
TRP
+$103M
2
CM icon
Canadian Imperial Bank of Commerce
CM
+$71.5M
3
PBA icon
Pembina Pipeline
PBA
+$17.6M
4
SNPS icon
Synopsys
SNPS
+$16.5M
5
ISRG icon
Intuitive Surgical
ISRG
+$14M

Top Sells

Rank Stock Value
1
BNS icon
Scotiabank
BNS
+$119M
2
AVGO icon
Broadcom
AVGO
+$26.8M
3
REET icon
iShares Global REIT ETF
REET
+$22.3M
4
TD icon
Toronto Dominion Bank
TD
+$14.3M
5
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$13.7M

Sector Composition

Rank Sector Weight
1 Financials 21.07%
2 Technology 16.38%
3 Energy 15.84%
4 Industrials 14.95%
5 Communication Services 11.29%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TRP icon
1
TC Energy
TRP
$70.3B
$125M 11.15%
2,302,996
+2,045,300
+794% +$103M
CM icon
2
Canadian Imperial Bank of Commerce
CM
$107B
$75.9M 6.76%
+950,000
New +$71.5M
MSFT icon
3
Microsoft
MSFT
$2.94T
$34.5M 3.07%
66,560
-7,000
-10% -$3.57M
TD icon
4
Toronto Dominion Bank
TD
$195B
$34.2M 3.04%
427,202
-190,400
-31% -$14.3M
TU icon
5
Telus
TU
$17.1B
$33.5M 2.98%
2,125,419
+72,000
+4% +$1.17M
BNS icon
6
Scotiabank
BNS
$106B
$33.5M 2.98%
517,300
-2,017,800
-80% -$119M
WCN
7
Waste Connections
WCN
$43.6B
$33.1M 2.94%
188,100
+70,700
+60% +$12.9M
PBA icon
8
Pembina Pipeline
PBA
$29.4B
$31.2M 2.78%
771,500
+466,100
+153% +$17.6M
META icon
9
Meta Platforms (Facebook)
META
$1.51T
$30.1M 2.68%
41,000
+1,500
+4% +$1.12M
UNP icon
10
Union Pacific
UNP
$174B
$26.5M 2.36%
112,000
+17,800
+19% +$4.01M
AMZN icon
11
Amazon
AMZN
$2.47T
$25.4M 2.26%
115,800
– –
NOW icon
12
ServiceNow
NOW
$119B
$25.4M 2.26%
138,000
+28,000
+25% +$5.23M
ISRG icon
13
Intuitive Surgical
ISRG
$127B
$25M 2.22%
55,800
+29,200
+110% +$14M
V icon
14
Visa
V
$704B
$24.2M 2.16%
71,000
– –
NVDA icon
15
NVIDIA
NVDA
$4.65T
$22.9M 2.04%
123,000
+70,000
+132% +$12.2M
T icon
16
AT&T
T
$167B
$22.3M 1.98%
789,400
+80,000
+11% +$2.27M
SLF icon
17
Sun Life Financial
SLF
$45.9B
$21.4M 1.91%
356,800
+79,500
+29% +$4.78M
DE icon
18
Deere & Co
DE
$167B
$20.8M 1.85%
45,500
+2,000
+5% +$986K
H icon
19
Hyatt Hotels
H
$17.4B
$19.7M 1.75%
138,500
– –
WMT icon
20
Walmart Inc
WMT
$908B
$19.6M 1.74%
190,200
-50,000
-21% -$4.98M
LIN icon
21
Linde
LIN
$236B
$18.9M 1.68%
39,800
– –
CNI icon
22
Canadian National Railway
CNI
$78.4B
$18.7M 1.67%
198,800
+24,200
+14% +$2.34M
TSM icon
23
TSMC
TSM
$1.97T
$18.7M 1.67%
67,000
– –
CNQ icon
24
Canadian Natural Resources
CNQ
$96.2B
$18.4M 1.64%
575,900
– –
PLD icon
25
Prologis
PLD
$136B
$16.3M 1.45%
142,000
-31,544
-18% -$3.47M
1
2 3 4 5

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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
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RAM
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MAP
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SCM
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DLP
De Lisle Partners Poole, United Kingdom $836M AUM 58.41% 1-Year Est. Return

Nicola Wealth Management's Q3 2025 Portfolio in Review

As of Q3 2025, Nicola Wealth Management held 112 positions worth $1.12B, up 5.3% from $1.07B the previous quarter. Its ten largest holdings account for 41% of the portfolio.

Nicola Wealth Management's Q3 2025 filing shows 8 new, 24 increased, 12 reduced and 47 closed positions. Its largest new stake was Canadian Imperial Bank of Commerce: 950,000 shares worth $75.9M. The largest sale was Scotiabank, an estimated $119M.

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

  • Nicola Wealth Management's largest Q3 2025 buy was Canadian Imperial Bank of Commerce: 950,000 shares worth $75.9M.
  • Nicola Wealth Management added most to TC Energy in Q3 2025, an estimated $103M increase.
  • Nicola Wealth Management's biggest Q3 2025 reduction was Scotiabank, cutting an estimated $119M.
  • Nicola Wealth Management fully exited iShares Global REIT ETF in Q3 2025, selling an estimated $22.3M.
  • Nicola Wealth Management's ten largest holdings make up 41% of its $1.12B portfolio in Q3 2025.
  • Nicola Wealth Management opened 8 new positions and closed 47 in Q3 2025.
  • Nicola Wealth Management's portfolio value rose 5.3% quarter-over-quarter to $1.12B.

Based on Nicola Wealth Management's 13F filing for Q3 2025, filed 31 Oct 2025.