Aviso Financial Inc.
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 12, 2025), Aviso Financial Inc. reported 343 stock positions worth $2.5 billion. Its top holding was Toronto-Dominion Bank (TD) at 5.4% of the portfolio, followed by Bank of Montreal (BMO, 5.3%) and Microsoft (MSFT, 4.3%). Compared with Q2 2025, it opened 22 new positions, sold out of 26, added to 182 and reduced 66. The biggest buy was Franco-Nevada (FNV, shares +42%) and the biggest sale Thomson Reuters (TRI, shares −0%).
- Most Recent 13F
- Q2 2026
- Location
- TORONTO, A6
- CIK
- 0002033534
- Portfolio Value
- $2.5B (Q3 2025)
- SEC Filing
- 0002033534-25-000008 ↗ filed Nov 12, 2025
Holdings Value
Holdings 343 stocks · $2.5B
| TD Toronto-Dominion Bank | 5.39% | 1,659,224 | $132.7M | Reduce -0.8% |
| BMO Bank of Montreal filed as BANK MONTREAL QUE | 5.31% | 1,002,099 | $130.6M | Add +24.2% |
| MSFT Microsoft Corp. | 4.26% | 202,350 | $104.8M | Add +1.9% |
| V Visa Inc. Class A | 4.09% | 294,552 | $100.6M | Add +2.1% |
| CP Canadian Pacific Kansas City | 3.93% | 1,299,253 | $96.8M | Add +19.0% |
| BN Brookfield Corp. | 3.91% | 1,402,621 | $96.3M | Add +1.1% |
| GOOG Alphabet Inc. Class C | 3.78% | 381,909 | $93.0M | Add +1.8% |
| AVGO Broadcom Inc. | 3.67% | 273,682 | $90.3M | Reduce -1.0% |
| CNQ Canadian Natural Resources | 3.39% | 2,609,357 | $83.4M | Add +0.5% |
| FNV Franco-Nevada Corp. | 3.26% | 359,973 | $80.1M | Add +42.1% |
| SAP Sap SE-Sponsored ADR | 3.08% | 283,560 | $75.8M | Add +1.5% |
| ENB Enbridge Inc. | 3.05% | 1,486,424 | $75.0M | Add +1.9% |
| QSR Restaurant Brands Intern | 2.54% | 973,257 | $62.4M | Add +1.6% |
| LIN Linde PLC | 2.39% | 123,605 | $58.7M | Add +1.4% |
| CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BANK OF CO | 2.35% | 724,859 | $57.9M | Add +4.0% |
| TMO Thermo Fisher Scientific Inc. | 2.28% | 115,486 | $56.0M | Add +3.2% |
| RMD Resmed Inc. | 2.24% | 201,382 | $55.1M | Add +1.5% |
| ITOT iShares Core S&P Total U.S. | 2.14% | 361,570 | $52.7M | Add +4.5% |
| JPM JPMorgan Chase & Co. | 2.09% | 162,871 | $51.4M | Add +2.6% |
| GIB Cgi Inc. | 1.86% | 512,748 | $45.7M | Add +4.5% |
| IXUS iShares Core Intl Stock ETF | 1.83% | 545,498 | $45.0M | Add +4.7% |
| MIDD Middleby Corp. | 1.82% | 337,080 | $44.8M | Add +1.5% |
| RY Royal Bank of Canada | 1.60% | 266,557 | $39.3M | Add +3.7% |
| BALL Ball Corp. | 1.55% | 755,666 | $38.1M | Add +1.5% |
| SPGI S&P Global Inc. | 1.52% | 76,839 | $37.4M | Add +0.1% |
| PEP Pepsico Inc. | 1.31% | 229,751 | $32.3M | Add +4.5% |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.13% | 41,584 | $27.7M | Add +0.7% |
| GOOGL Alphabet Inc. Class A | 0.91% | 92,586 | $22.5M | Reduce -2.2% |
| BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA HALIFAX | 0.75% | 286,820 | $18.5M | Add +3.2% |
| CNI Canadian Natl Railway Co. | 0.70% | 183,692 | $17.3M | Add +4.9% |
| AAPL Apple Inc. | 0.65% | 63,125 | $16.1M | Add +17.0% |
| TRP TC Energy Corp. | 0.63% | 284,690 | $15.5M | Add +14.3% |
| BIP Brookfield Infrastructure Pa | 0.60% | 449,259 | $14.8M | Add +17.3% |
| COST Costco Wholesale Corp. | 0.52% | 13,791 | $12.8M | Add +5.1% |
| EMA Emera Inc. | 0.51% | 260,455 | $12.5M | Add +1.1% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.49% | 83,350 | $12.0M | Add +12.9% |
| AMZN Amazon.com Inc. | 0.46% | 51,208 | $11.2M | Add +22.6% |
| TRI Thomson Reuters Corp. | 0.45% | 70,645 | $11.0M | Reduce -0.4% |
| RBA RB Global Inc. | 0.44% | 99,634 | $10.8M | Add +3.0% |
| META Meta Platforms Inc. Class A | 0.42% | 14,063 | $10.3M | Add +5.4% |
| GRTUF Granite Real Estate Investme | 0.38% | 168,512 | $9.4M | Add +88.8% |
| WPM Wheaton Precious Metals Corp. | 0.38% | 83,298 | $9.3M | Reduce -0.0% |
| WCN Waste Connections Inc. | 0.36% | 50,736 | $8.9M | Add +1.3% |
| MCD McDonald's Corp. | 0.32% | 25,751 | $7.8M | Add +6.3% |
| ICE Intercontinental Exchange Inc. | 0.32% | 46,348 | $7.8M | Add +5.0% |
| SLF Sun Life Financial Inc. | 0.31% | 127,474 | $7.7M | Reduce -2.2% |
| MA Mastercard Inc. Class A | 0.30% | 13,040 | $7.4M | Add +3.2% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.30% | 14,684 | $7.4M | Add +3.5% |
| TFII Tfi International Inc. | 0.29% | 81,344 | $7.2M | Add +9.7% |
| CME Cme Group Inc. | 0.29% | 26,099 | $7.1M | Add +5.0% |
| WMB Williams Cos Inc. | 0.28% | 108,099 | $6.8M | Add +6.4% |
| SHOP Shopify Inc. Class A | 0.27% | 45,491 | $6.8M | Add +6.1% |
| SU Suncor Energy Inc. | 0.27% | 161,216 | $6.7M | Add +4.9% |
| ASML ASML Holding NV-NY Reg SHS | 0.23% | 5,793 | $5.6M | Add +7.6% |
| AME Ametek Inc. | 0.22% | 28,729 | $5.4M | Add +1.2% |
| MFC Manulife Financial Corp. | 0.22% | 172,568 | $5.4M | Add +10.9% |
| JNJ Johnson & Johnson | 0.22% | 28,771 | $5.3M | Add +7.2% |
| FTS Fortis Inc. | 0.21% | 103,588 | $5.3M | Add +2.0% |
| MRSH Marsh & McLennan Cos | 0.21% | 25,714 | $5.2M | Reduce -3.2% |
| PG The Procter & Gamble Co. | 0.21% | 32,845 | $5.0M | Add +6.8% |
| ABT Abbott Laboratories | 0.20% | 37,285 | $5.0M | Add +5.1% |
| CIGI Colliers Intl GR-Subord Vot | 0.20% | 31,132 | $4.9M | Add +4.6% |
| VRSK Verisk Analytics Inc. | 0.19% | 19,001 | $4.8M | Add +0.4% |
| TU Telus Corp. | 0.19% | 300,517 | $4.7M | Add +4.1% |
| OTIS Otis Worldwide Corp. | 0.19% | 50,348 | $4.6M | Add +2.2% |
| UNH Unitedhealth Group Inc. | 0.18% | 12,875 | $4.4M | Add +0.6% |
| NVDA Nvidia Corp. | 0.17% | 22,331 | $4.2M | Add +3.8% |
| RSG Republic Services Inc. | 0.17% | 18,150 | $4.2M | Add +6.1% |
| RCI Rogers Communications Inc. Class B | 0.17% | 119,003 | $4.1M | Add +49.2% |
| BCE Bce Inc. | 0.16% | 172,466 | $4.0M | Add +5.9% |
| AEM Agnico Eagle Mines Ltd. | 0.16% | 23,729 | $4.0M | Add +12.3% |
| LOW Lowe's Cos Inc. | 0.16% | 15,628 | $3.9M | Add +2.1% |
| STN Stantec Inc. | 0.16% | 36,404 | $3.9M | Reduce -3.0% |
| OTEX Open Text Corp. | 0.16% | 103,046 | $3.9M | Add +9.4% |
| BDX Becton Dickinson and Co. | 0.15% | 19,503 | $3.7M | Add +33.2% |
| DPZ Domino's Pizza Inc. | 0.15% | 8,425 | $3.6M | Add +1.9% |
| MEOH Methanex Corp. | 0.14% | 89,312 | $3.6M | Add +33.5% |
| VZ Verizon Communications Inc. | 0.14% | 80,723 | $3.5M | Add +15.7% |
| GIL Gildan Activewear Inc. | 0.14% | 60,876 | $3.5M | Add +35.1% |
| COR Cencora Inc. | 0.14% | 11,248 | $3.5M | Add +9.9% |
| MSI Motorola Solutions Inc. | 0.14% | 7,640 | $3.5M | Add +166.5% |
| WAT Waters Corp. | 0.14% | 11,393 | $3.4M | Add +57.8% |
| AZN Astrazeneca PLC-Spons ADR | 0.14% | 44,413 | $3.4M | Add +5.2% |
| SHEL Shell PLC-ADR | 0.13% | 46,331 | $3.3M | Add +6.5% |
| WM Waste Management Inc. | 0.13% | 14,780 | $3.3M | Add +5.8% |
| EQIX Equinix Inc. | 0.13% | 4,150 | $3.3M | Add +7.2% |
| TTE Totalenergies SE -Spon ADR | 0.13% | 53,310 | $3.2M | Add +7.3% |
| HIG Hartford Insurance Group Inc. | 0.13% | 23,725 | $3.2M | Add +6.1% |
| TXN Texas Instruments Inc. | 0.13% | 17,201 | $3.2M | Add +0.3% |
| MLM Martin Marietta Materials | 0.12% | 4,774 | $3.0M | Add +9.3% |
| HD Home Depot Inc. | 0.12% | 7,087 | $2.9M | Add +6.8% |
| MDT Medtronic PLC | 0.11% | 29,560 | $2.8M | Add +7.3% |
| HEI Heico Corp. | 0.11% | 8,623 | $2.8M | Add +2.3% |
| DHR Danaher Corp. | 0.11% | 13,825 | $2.7M | Reduce -52.9% |
| ABBV Abbvie Inc. | 0.11% | 11,441 | $2.6M | Add +6.3% |
| ATR Aptargroup Inc. | 0.11% | 19,679 | $2.6M | Add +10.8% |
| DSGX The Descartes Systems Grp | 0.10% | 27,141 | $2.6M | Add +247.6% |
| APD Air Products & Chemicals Inc. | 0.10% | 9,113 | $2.5M | Add +4.9% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.09% | 45,236 | $2.3M | Add +1.1% |
| SONY Sony Group Corp. - SP ADR | 0.09% | 78,200 | $2.3M | Reduce -1.0% |
Other holdings (3): bonds, preferreds, convertibles and warrants · $4K (not counted above)
Total filed on the 13F, all lines: $2.5B.
Portfolio Sells Q2 2025 → Q3 2025
| TRI Thomson Reuters Corp. | Reduce -0.4% | 0.45% | −0.20 |
| ACN Accenture PLC Class A | Reduce -78.8% | 0.04% | −0.19 |
| TD Toronto-Dominion Bank | Reduce -0.8% | 5.39% | −0.15 |
| DHR Danaher Corp. | Reduce -52.9% | 0.11% | −0.15 |
| NTR Nutrien Ltd. | Reduce -66.4% | 0.06% | −0.14 |
| SLF Sun Life Financial Inc. | Reduce -2.2% | 0.31% | −0.08 |
| FISV Fiserv Inc. | Reduce -38.3% | 0.05% | −0.07 |
| ALNT Allient Inc. | Sold out | 0.00% | −0.05 |
| CMG Chipotle Mexican Grill Inc. | Sold out | 0.00% | −0.05 |
| MRSH Marsh & McLennan Cos | Reduce -3.2% | 0.21% | −0.05 |
| NVO Novo-Nordisk A/S-Spons ADR | Reduce -21.7% | 0.07% | −0.05 |
| SNPS Synopsys Inc. | Sold out | 0.00% | −0.04 |
| EXR Extra Space Storage Inc. | Reduce -99.8% | 0.00% | −0.04 |
| ORCL Oracle Corp. | Reduce -43.5% | 0.06% | −0.03 |
| CDW CDW Corp. | Sold out | 0.00% | −0.03 |
| ADSK Autodesk Inc. | Sold out | 0.00% | −0.03 |
| UNP Union Pacific Corp. | Reduce -99.7% | 0.00% | −0.03 |
| NSC Norfolk Southern Corp. | Reduce -99.7% | 0.00% | −0.03 |
| CBOE Cboe Global Markets Inc. | Reduce -99.8% | 0.00% | −0.03 |
| CSX CSX Corp. | Reduce -99.5% | 0.00% | −0.03 |
| CPRT Copart Inc. | Reduce -38.4% | 0.03% | −0.03 |
| CVS CVS Health Corp. | Reduce -52.2% | 0.02% | −0.03 |
| STN Stantec Inc. | Reduce -3.0% | 0.16% | −0.02 |
| SITE Siteone Landscape Supply Inc. | Sold out | 0.00% | −0.02 |
| B Barrick Mining Corp. | Reduce -44.3% | 0.08% | −0.02 |
| BAM Brookfield Asset Mgmt-A | Reduce -28.7% | 0.04% | −0.02 |
| BSX Boston Scientific Corp. | Reduce -5.0% | 0.06% | −0.02 |
| ROK Rockwell Automation Inc. | Sold out | 0.00% | −0.01 |
| BLK BlackRock Inc. | Reduce -13.9% | 0.06% | −0.01 |
| CAE Cae Inc. | Reduce -4.8% | 0.06% | −0.01 |
| GWRE Guidewire Software Inc. | Reduce -4.6% | 0.04% | −0.01 |
| CACC Credit Acceptance Corp. | Reduce -3.5% | 0.03% | −0.01 |
| JHX James Hardie Ord | Sold out | 0.00% | −0.01 |
| MRVL Marvell Technology Inc. | Reduce -15.7% | 0.03% | −0.01 |
| NEAR iShares SH Dba ETF Usd Inc. | Reduce -15.0% | 0.02% | −0.01 |
| WIX Wix.com Ltd. | Sold out | 0.00% | −0.01 |
| PGR Progressive Corp. | Reduce -4.3% | 0.02% | −0.01 |
| MFG Mizuho Financial Group-ADR | Reduce -23.5% | 0.02% | −0.00 |
| TIXT Telus International Cda Inc. | Reduce -48.5% | 0.01% | −0.00 |
| APH Amphenol Corp. Class A | Reduce -26.1% | 0.02% | −0.00 |
| DEO Diageo PLC-Sponsored ADR | Reduce -9.6% | 0.01% | −0.00 |
| SCHW Schwab (charles) Corp. | Reduce -8.7% | 0.02% | −0.00 |
| FBND Fidelity Total Bond ETF | Reduce -15.0% | 0.01% | −0.00 |
| CCEP Coca-Cola Europacific Partne | Reduce -10.2% | 0.01% | −0.00 |
| ADBE Adobe Inc. | Reduce -8.0% | 0.01% | −0.00 |
| BAH Booz Allen Hamilton Holdings | Reduce -10.1% | 0.01% | −0.00 |
| MNST Monster Beverage Corp. | Reduce -3.8% | 0.04% | −0.00 |
| HDB HDFC Bank Ltd.-ADR | Reduce -7.9% | 0.01% | −0.00 |
| LCII Lci Industries | Reduce -2.8% | 0.02% | −0.00 |
| SFBS Servisfirst Bancshares Inc. | Reduce -3.5% | 0.02% | −0.00 |
Portfolio Buys Q2 2025 → Q3 2025
| FNV Franco-Nevada Corp. | Add +42.1% | 3.26% | +1.38 |
| BMO Bank of Montreal | Add +24.2% | 5.31% | +1.28 |
| GOOG Alphabet Inc. Class C | Add +1.8% | 3.78% | +0.78 |
| TMO Thermo Fisher Scientific Inc. | Add +3.2% | 2.28% | +0.23 |
| GRTUF Granite Real Estate Investme | Add +88.8% | 0.38% | +0.18 |
| AAPL Apple Inc. | Add +17.0% | 0.65% | +0.15 |
| CM Can Imperial BK of Commerce | Add +4.0% | 2.35% | +0.12 |
| MSI Motorola Solutions Inc. | Add +166.5% | 0.14% | +0.09 |
| TRP TC Energy Corp. | Add +14.3% | 0.63% | +0.08 |
| FCN Fti Consulting Inc. | New | 0.08% | +0.08 |
| TJX TJX Companies Inc. | Add +12.9% | 0.49% | +0.08 |
| RY Royal Bank of Canada | Add +3.7% | 1.60% | +0.07 |
| DSGX The Descartes Systems Grp | Add +247.6% | 0.10% | +0.07 |
| ENB Enbridge Inc. | Add +1.9% | 3.05% | +0.06 |
| ALB Albemarle Corp. | Add +363.5% | 0.08% | +0.06 |
| BNS Bank of Nova Scotia | Add +3.2% | 0.75% | +0.06 |
| XPEV Xpeng Inc. - ADR | New | 0.06% | +0.06 |
| BABA Alibaba Group Holding-SP ADR | New | 0.06% | +0.06 |
| RCI Rogers Communications Inc. Class B | Add +49.2% | 0.17% | +0.06 |
| SHOP Shopify Inc. Class A | Add +6.1% | 0.27% | +0.05 |
| AEM Agnico Eagle Mines Ltd. | Add +12.3% | 0.16% | +0.05 |
| CRWD CrowdStrike Holdings Inc. Class A | New | 0.05% | +0.05 |
| MEOH Methanex Corp. | Add +33.5% | 0.14% | +0.04 |
| AMZN Amazon.com Inc. | Add +22.6% | 0.46% | +0.04 |
| GIL Gildan Activewear Inc. | Add +35.1% | 0.14% | +0.04 |
| FTNT Fortinet Inc. | New | 0.04% | +0.04 |
| BN Brookfield Corp. | Add +1.1% | 3.91% | +0.04 |
| LLY Eli Lilly & Co. | Add +41200.0% | 0.04% | +0.04 |
| BSY Bentley Systems Inc. Class B | New | 0.04% | +0.04 |
| BDX Becton Dickinson and Co. | Add +33.2% | 0.15% | +0.03 |
| CVE Cenovus Energy Inc. | Add +371.4% | 0.04% | +0.03 |
| ITOT iShares Core S&P Total U.S. | Add +4.5% | 2.14% | +0.03 |
| ASML ASML Holding NV-NY Reg SHS | Add +7.6% | 0.23% | +0.03 |
| OTEX Open Text Corp. | Add +9.4% | 0.16% | +0.03 |
| PBA Pembina Pipeline Corp. | Add +89.3% | 0.07% | +0.03 |
| JNJ Johnson & Johnson | Add +7.2% | 0.22% | +0.03 |
| LSPD Lightspeed Commerce Inc. | New | 0.03% | +0.03 |
| DRI Darden Restaurants Inc. | Add +130.4% | 0.06% | +0.03 |
| INTU Intuit Inc. | Add +4423.8% | 0.03% | +0.03 |
| WAT Waters Corp. | Add +57.8% | 0.14% | +0.03 |
| BIP Brookfield Infrastructure Pa | Add +17.3% | 0.60% | +0.02 |
| CP Canadian Pacific Kansas City | Add +19.0% | 3.93% | +0.02 |
| CIGI Colliers Intl GR-Subord Vot | Add +4.6% | 0.20% | +0.02 |
| ABBV Abbvie Inc. | Add +6.3% | 0.11% | +0.02 |
| NVDA Nvidia Corp. | Add +3.8% | 0.17% | +0.02 |
| WDAY Workday Inc. Class A | Add +56.0% | 0.05% | +0.02 |
| SU Suncor Energy Inc. | Add +4.9% | 0.27% | +0.01 |
| KLAC KLA Corp. | New | 0.01% | +0.01 |
| MLM Martin Marietta Materials | Add +9.3% | 0.12% | +0.01 |
| IXUS iShares Core Intl Stock ETF | Add +4.7% | 1.83% | +0.01 |
Notes & Other Activity Q2 2025 → Q3 2025
| CVE.WS Cenovus Energy Inc. -CW26 | *W EXP 01/01/202 | Add +62.9% | 259 | $3K |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 270 | $2.9B | TD, BMO, GOOG, AVGO, CNQ |
| Q1 2026 | 335 | $2.8B | TD, BMO, CNQ, FNV, GOOG |
| Q4 2025 | 342 | $2.6B | TD, BMO, GOOG, V, MSFT |
| Q3 2025 | 343 | $2.5B | TD, BMO, MSFT, V, CP |
| Q2 2025 | 347 | $2.2B | TD, V, MSFT, BMO, CP |
| Q1 2025 | 348 | $2.0B | BMO, V, TD, CNQ, SAP |
| Q4 2024 | 357 | $2.0B | BMO, V, CNQ, TD, BN |
| Q3 2024 | 357 | $2.0B | TD, CNQ, BMO, SAP, BN |
| Q2 2024 | 355 | $1.8B | TD, CNQ, BMO, SAP, V |