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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
+2.48%
1 Year Est. Return
+20.94%
3 Year Est. Return
+48.3%
5 Year Est. Return
+61.97%
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
TRP icon
1
TC Energy
TRP
$68.6B
$110M 10.02%
2,000,000
-302,996
-13% -$16.2M
BNS icon
2
Scotiabank
BNS
$108B
$100M 9.14%
1,361,500
+844,200
+163% +$57.4M
PBA icon
3
Pembina Pipeline
PBA
$28B
$37.6M 3.42%
987,800
+216,300
+28% +$8.32M
TD icon
4
Toronto Dominion Bank
TD
$200B
$34.2M 3.12%
363,302
-63,900
-15% -$5.4M
WCN
5
Waste Connections
WCN
$42.3B
$32.5M 2.96%
185,400
-2,700
-1% -$467K
MSFT icon
6
Microsoft
MSFT
$3.62T
$32.2M 2.93%
66,560
– –
UNP icon
7
Union Pacific
UNP
$173B
$25.9M 2.36%
112,000
– –
V icon
8
Visa
V
$683B
$24.9M 2.27%
71,000
– –
AMZN icon
9
Amazon
AMZN
$3.06T
$24.4M 2.22%
105,800
-10,000
-9% -$2.29M
ISRG icon
10
Intuitive Surgical
ISRG
$135B
$24.3M 2.21%
42,900
-12,900
-23% -$6.87M
NVDA icon
11
NVIDIA
NVDA
$5.01T
$22.9M 2.09%
123,000
– –
SLF icon
12
Sun Life Financial
SLF
$45.7B
$22.9M 2.08%
366,900
+10,100
+3% +$610K
T icon
13
AT&T
T
$162B
$22.8M 2.07%
916,400
+127,000
+16% +$3.22M
DE icon
14
Deere & Co
DE
$163B
$21.2M 1.93%
45,500
– –
NOW icon
15
ServiceNow
NOW
$118B
$21.1M 1.92%
138,000
– –
META icon
16
Meta Platforms (Facebook)
META
$1.5T
$20.9M 1.9%
31,700
-9,300
-23% -$6.21M
TSM icon
17
TSMC
TSM
$2.11T
$20.4M 1.85%
67,000
– –
H icon
18
Hyatt Hotels
H
$16.2B
$19.8M 1.8%
123,500
-15,000
-11% -$2.3M
CNI icon
19
Canadian National Railway
CNI
$76.1B
$19.7M 1.79%
198,800
– –
WMT icon
20
Walmart Inc
WMT
$881B
$19.6M 1.79%
176,200
-14,000
-7% -$1.5M
BCE icon
21
BCE
BCE
$20.3B
$17.4M 1.58%
729,000
+96,600
+15% +$2.25M
LIN icon
22
Linde
LIN
$222B
$17M 1.54%
39,800
– –
INFY icon
23
Infosys
INFY
$49.6B
$16.9M 1.54%
948,000
+126,000
+15% +$2.18M
TU icon
24
Telus
TU
$15B
$16.1M 1.47%
1,223,219
-902,200
-42% -$12.7M
NFLX icon
25
Netflix
NFLX
$305B
$15.7M 1.42%
167,000
+47,000
+39% +$5.07M
1
2 3

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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
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 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.