BCV Asset Management Inc.

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 8, 2026), BCV Asset Management Inc. reported 120 stock positions worth $2.9 billion. Its top holding was Brookfield (BN) at 5.2% of the portfolio, followed by Royal Bank of Canada (RY, 4.4%) and Alphabet Class A (GOOGL, 4.0%). Compared with Q4 2025, it opened 51 new positions, sold out of 4, added to 47 and reduced 22. The biggest buy was Marvell Technology (MRVL, shares +128%) and the biggest sale Bank of Nova Scotia (BNS, shares −29%).

Most Recent 13F
Q2 2026
Location
WINNIPEG, A2
CIK
0002110721
Portfolio Value
$2.9B (Q1 2026)
SEC Filing
0002110721-26-000003 ↗ filed May 8, 2026

Holdings Value

0$1.0B$2.0B$3.0B$4.0B Q4 2025: $4.0B Q4 2025 Q1 2026: $2.9B $2.9B Q1 2026 Q2 2026: $3.3B Q2 2026

Holdings 120 stocks · $2.9B
BN Brookfield Corp. 5.17% 3,722,896 $150.3M Add +0.9%
RY Royal Bank of Canada 4.40% 794,717 $128.0M Reduce -0.9%
GOOGL Alphabet Inc. Class A 4.01% 405,898 $116.6M Add +0.2%
STN Stantec Inc. 3.05% 1,029,411 $88.7M Add +4.4%
BMO Bank of Montreal filed as BANK MONTREAL MEDIUM 3.04% 655,741 $88.5M Add +0.1%
CP Canadian Pacific Kansas City 3.03% 1,122,468 $88.0M Add +0.3%
MSFT Microsoft Corp. 2.86% 224,856 $83.2M Add +0.9%
GIL Gildan Activewear Inc. 2.85% 1,494,591 $83.0M Reduce -0.5%
CNQ Canadian Natural Resources 2.83% 1,689,724 $82.2M Reduce -32.2%
CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BANK OF CO 2.64% 813,623 $76.8M Reduce -4.0%
SUNC Sunococorp LLC 2.64% 1,243,518 $76.7M Add +0.3%
LLY Eli Lilly & Co. 2.62% 82,923 $76.3M Add +1.2%
AMAT Applied Materials Inc. 2.53% 215,189 $73.5M Reduce -27.2%
WCN Waste Connections Inc. 2.51% 450,464 $72.9M Add +8.8%
ABBV Abbvie Inc. 2.51% 335,274 $72.9M Add +0.2%
PBA Pembina Pipeline Corp. 2.44% 1,592,388 $71.1M Reduce -1.3%
FSV Firstservice Corp. 2.40% 504,115 $69.8M Add +36.2%
HUM Humana Inc. 2.37% 397,685 $68.9M Add +55.3%
UNP Union Pacific Corp. 2.36% 283,070 $68.7M Add +0.8%
NEE Nextera Energy Inc. 2.16% 677,050 $62.9M Reduce -1.9%
DE Deere & Co. 2.16% 111,501 $62.8M Reduce -5.8%
V Visa Inc. Class A 2.13% 204,487 $61.8M Add +35.9%
TXN Texas Instruments Inc. 2.08% 311,934 $60.5M Add +2.0%
HCA HCA Healthcare Inc. 2.00% 122,609 $58.0M Reduce -1.4%
SLF Sun Life Financial Inc. 1.89% 879,984 $54.9M Add +1.4%
MGA Magna International Inc. 1.85% 964,056 $53.7M Reduce -0.6%
ASML ASML Holding NV-NY Reg SHS filed as ASML HLDG NV 1.83% 40,278 $53.2M Reduce -27.4%
MRVL Marvell Technology Inc. 1.83% 536,769 $53.2M Add +128.4%
BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA B C 1.64% 690,268 $47.7M Reduce -28.5%
BAC Bank of America Corp. filed as BANK AMERICA CORP 1.46% 871,905 $42.5M Add +9.5%
UNH Unitedhealth Group Inc. 1.45% 155,355 $42.0M Reduce -1.5%
ACN Accenture PLC Class A 1.42% 208,310 $41.3M Add +2.1%
TRI Thomson Reuters Corp. 1.32% 427,356 $38.4M Add +41.5%
BGSI Boyd Group Services Inc. 1.31% 298,328 $38.0M Add +7.7%
DHR Danaher Corp. 1.23% 188,852 $35.8M Add +3.6%
SU Suncor Energy Inc. 1.10% 483,208 $31.9M Reduce -12.4%
CNI Canadian Natl Railway Co. 1.08% 306,755 $31.5M Add +4.1%
AVY Avery Dennison Corp. 1.06% 179,155 $30.9M Add +1.9%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.91% 165,152 $26.4M Reduce -0.1%
BRK.B Berkshire Hathaway Inc. Class B 0.86% 52,078 $25.0M Reduce -4.8%
PLD Prologis Inc. 0.72% 157,889 $20.9M Add +2.8%
TMO Thermo Fisher Scientific Inc. 0.63% 37,136 $18.3M Add +3.1%
CRH CRH PLC 0.63% 173,576 $18.2M Reduce -14.6%
AMZN Amazon.com Inc. 0.63% 87,342 $18.2M Add +21.4%
FERG Ferguson Enterprises Inc. 0.62% 77,864 $18.2M Add +0.3%
EME Emcor Group Inc. 0.55% 21,678 $16.0M Add +0.8%
ODFL Old Dominion Freight Line 0.50% 75,137 $14.7M Add +0.2%
AEM Agnico Eagle Mines Ltd. 0.50% 71,288 $14.4M Reduce -6.0%
SNPS Synopsys Inc. 0.48% 35,500 $14.1M Add +0.9%
OC Owens Corning 0.40% 106,485 $11.5M Add +0.4%
CVX Chevron Corp. 0.35% 48,621 $10.1M Add +0.4%
OTIS Otis Worldwide Corp. 0.33% 123,691 $9.5M Add +0.8%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.27% 82,345 $7.9M Add +0.7%
CEG Constellation Energy 0.26% 27,456 $7.7M New
BKNG Booking Holdings Inc. 0.26% 1,768 $7.4M Add +0.7%
TD Toronto-Dominion Bank 0.25% 78,917 $7.3M New
AAPL Apple Inc. 0.21% 24,504 $6.2M New
FTS Fortis Inc. 0.21% 110,064 $6.1M Add +5.0%
MKL Markel Group Inc. 0.21% 3,142 $6.0M Add +2.1%
ENB Enbridge Inc. 0.19% 104,838 $5.7M Add +484.0%
CVE Cenovus Energy Inc. 0.19% 205,995 $5.4M Add +1.5%
TRP TC Energy Corp. 0.18% 84,495 $5.3M Add +387.2%
B Barrick Mining Corp. 0.18% 127,921 $5.2M Reduce -4.3%
MOH Molina Healthcare Inc. 0.17% 36,942 $4.9M Add +10.3%
SOBO South Bow Corp. 0.15% 133,672 $4.5M New
AXON Axon Enterprise Inc. 0.15% 10,322 $4.4M Add +0.1%
CVS CVS Health Corp. 0.14% 57,845 $4.2M Add +1.7%
MFC Manulife Financial Corp. 0.12% 100,477 $3.4M Add +241.0%
BCE Bce Inc. 0.12% 133,557 $3.4M Add +73.7%
VST Vistra Corp. 0.10% 20,198 $3.0M Add +0.8%
ADI Analog Devices Inc. 0.10% 9,426 $3.0M New
AXP American Express Co. 0.09% 8,380 $2.5M New
VOD Vodafone Group PLC-SP ADR 0.08% 146,881 $2.2M Reduce -0.7%
JPM JPMorgan Chase & Co. 0.07% 6,982 $2.1M New
BEP Brookfield Renewable Partner 0.07% 60,718 $1.9M New
NVDA Nvidia Corp. 0.07% 10,955 $1.9M New
CSCO Cisco Systems Inc. 0.06% 22,240 $1.7M Reduce -7.5%
EWW iShares MSCI Mexico ETF 0.06% 23,340 $1.7M New
DHI D.R. Horton Inc. 0.04% 9,525 $1.3M New
GOOG Alphabet Inc. Class C 0.04% 4,446 $1.3M New
BAM Brookfield Asset Mgmt-A 0.04% 27,456 $1.2M Reduce -49.4%
PSLV Sprott Physical Silver Trust 0.04% 47,750 $1.2M New
RTX RTX Corp. 0.04% 5,700 $1.1M New
TU Telus Corp. 0.04% 82,372 $1.1M New
FDX FedEx Corp. 0.03% 2,660 $947K New
GD General Dynamics Corp. 0.03% 2,570 $882K New
TFII Tfi International Inc. filed as TRANSFORCE INC 0.03% 7,996 $832K New
BRK.A Berkshire Hathaway Inc. Class A 0.02% 1 $718K New
COST Costco Wholesale Corp. 0.02% 717 $714K New
AQN Algonquin Power & Utilities 0.02% 100,769 $615K New
PLAB Photronics Inc. 0.02% 13,400 $541K New
XLK SS Technology Select Sector 0.02% 3,878 $515K New
TT Trane Technologies PLC 0.02% 1,083 $451K New
IMO Imperial Oil Ltd. 0.02% 3,393 $441K New
GLD SPDR Gold Shares 0.01% 985 $424K New
AOR iShares Core 60/40 Balanced 0.01% 6,438 $414K New
EMA Emera Inc. 0.01% 7,908 $409K New
JNJ Johnson & Johnson 0.01% 1,633 $399K New
IHI iShares U.S. Medical Devices 0.01% 7,223 $380K New
SHEL Shell PLC-ADR 0.01% 3,790 $352K New
WFC Wells Fargo & Co. 0.01% 4,155 $331K New
EFA iShares MSCI Eafe ETF 0.01% 3,481 $327K New
CING Cingulate Inc. 0.01% 51,200 $318K New
HON Honeywell International Inc. 0.01% 1,395 $315K New
BBY Best Buy Co. Inc. 0.01% 4,600 $295K New
OTEX Open Text Corp. 0.01% 12,945 $288K New
HD Home Depot Inc. 0.01% 840 $274K New
NTR Nutrien Ltd. 0.01% 3,148 $237K New
AMD Advanced Micro Devices 0.01% 1,053 $214K New
GS Goldman Sachs Group Inc. 0.01% 250 $211K New
ORCL Oracle Corp. 0.01% 1,403 $206K New
JCI Johnson Controls Internation 0.01% 1,575 $206K New
USAS Americas Gold and Silver Cor 0.00% 24,600 $128K New
DNN Denison Mines Corp. 0.00% 27,100 $96K New
ACHV Achieve Life Sciences Inc. 0.00% 26,365 $78K New
QNC Quantum Emotion Corp. 0.00% 17,450 $40K New
VFF Village Farms International 0.00% 13,350 $38K New
ZTEKF Zentek Ltd. 0.00% 70,600 $35K New
GOSS Gossamer Bio Inc. 0.00% 106,500 $35K New
LEXX Lexaria Bioscience Corp. 0.00% 10,000 $8K New

Portfolio Sells Q4 2025 → Q1 2026
BNS Bank of Nova Scotia Reduce -28.5% 1.64% −0.92
GIL Gildan Activewear Inc. Reduce -0.5% 2.85% −0.88
ASML ASML Holding NV-NY Reg SHS Reduce -27.4% 1.83% −0.67
CNQ Canadian Natural Resources Reduce -32.2% 2.83% −0.65
AMAT Applied Materials Inc. Reduce -27.2% 2.53% −0.60
RY Royal Bank of Canada Reduce -0.9% 4.40% −0.37
HCA HCA Healthcare Inc. Reduce -1.4% 2.00% −0.27
CM Can Imperial BK of Commerce Reduce -4.0% 2.64% −0.18
DE Deere & Co. Reduce -5.8% 2.16% −0.11
MGA Magna International Inc. Reduce -0.6% 1.85% −0.08
EWY iShares MSCI South Korea ETF Sold out 0.00% −0.07
UNH Unitedhealth Group Inc. Reduce -1.5% 1.45% −0.06
ICVT iShares Convertible Bond ETF Sold out 0.00% −0.06
BAM Brookfield Asset Mgmt-A Reduce -49.4% 0.04% −0.06
AEM Agnico Eagle Mines Ltd. Reduce -6.0% 0.50% −0.06
GREK Global X MSCI Greece ETF Sold out 0.00% −0.04
TMUS T-Mobile US Inc. Sold out 0.00% −0.04
CRH CRH PLC Reduce -14.6% 0.63% −0.04
B Barrick Mining Corp. Reduce -4.3% 0.18% −0.04
NEE Nextera Energy Inc. Reduce -1.9% 2.16% −0.00
CSCO Cisco Systems Inc. Reduce -7.5% 0.06% +0.01
VOD Vodafone Group PLC-SP ADR Reduce -0.7% 0.08% +0.02
PBA Pembina Pipeline Corp. Reduce -1.3% 2.44% +0.04
SU Suncor Energy Inc. Reduce -12.4% 1.10% +0.06
BRK.B Berkshire Hathaway Inc. Class B Reduce -4.8% 0.86% +0.15
TJX TJX Companies Inc. Reduce -0.1% 0.91% +0.27

Portfolio Buys Q4 2025 → Q1 2026
MRVL Marvell Technology Inc. Add +128.4% 1.83% +1.17
HUM Humana Inc. Add +55.3% 2.37% +0.83
V Visa Inc. Class A Add +35.9% 2.13% +0.43
FSV Firstservice Corp. Add +36.2% 2.40% +0.40
TRI Thomson Reuters Corp. Add +41.5% 1.32% +0.39
SUNC Sunococorp LLC Add +0.3% 2.64% +0.30
CEG Constellation Energy New 0.26% +0.26
TD Toronto-Dominion Bank New 0.25% +0.25
AMZN Amazon.com Inc. Add +21.4% 0.63% +0.24
AAPL Apple Inc. New 0.21% +0.21
WCN Waste Connections Inc. Add +8.8% 2.51% +0.17
ENB Enbridge Inc. Add +484.0% 0.19% +0.16
SOBO South Bow Corp. New 0.15% +0.15
TRP TC Energy Corp. Add +387.2% 0.18% +0.14
ODFL Old Dominion Freight Line Add +0.2% 0.50% +0.14
TMO Thermo Fisher Scientific Inc. Add +3.1% 0.63% +0.14
EME Emcor Group Inc. Add +0.8% 0.55% +0.13
CVX Chevron Corp. Add +0.4% 0.35% +0.12
FERG Ferguson Enterprises Inc. Add +0.3% 0.62% +0.11
ADI Analog Devices Inc. New 0.10% +0.10
SNPS Synopsys Inc. Add +0.9% 0.48% +0.10
AXP American Express Co. New 0.09% +0.09
MFC Manulife Financial Corp. Add +241.0% 0.12% +0.08
JPM JPMorgan Chase & Co. New 0.07% +0.07
UNP Union Pacific Corp. Add +0.8% 2.36% +0.07
BEP Brookfield Renewable Partner New 0.07% +0.07
BKNG Booking Holdings Inc. Add +0.7% 0.26% +0.07
NVDA Nvidia Corp. New 0.07% +0.07
MOH Molina Healthcare Inc. Add +10.3% 0.17% +0.06
EWW iShares MSCI Mexico ETF New 0.06% +0.06
OTIS Otis Worldwide Corp. Add +0.8% 0.33% +0.05
BCE Bce Inc. Add +73.7% 0.12% +0.05
DIS The Walt Disney Co. Add +0.7% 0.27% +0.05
DHI D.R. Horton Inc. New 0.04% +0.04
GOOG Alphabet Inc. Class C New 0.04% +0.04
MKL Markel Group Inc. Add +2.1% 0.21% +0.04
PSLV Sprott Physical Silver Trust New 0.04% +0.04
CVE Cenovus Energy Inc. Add +1.5% 0.19% +0.04
RTX RTX Corp. New 0.04% +0.04
TU Telus Corp. New 0.04% +0.04
AXON Axon Enterprise Inc. Add +0.1% 0.15% +0.03
CVS CVS Health Corp. Add +1.7% 0.14% +0.03
FDX FedEx Corp. New 0.03% +0.03
GD General Dynamics Corp. New 0.03% +0.03
TFII Tfi International Inc. New 0.03% +0.03
OC Owens Corning Add +0.4% 0.40% +0.03
BRK.A Berkshire Hathaway Inc. Class A New 0.02% +0.02
COST Costco Wholesale Corp. New 0.02% +0.02
VST Vistra Corp. Add +0.8% 0.10% +0.02
AQN Algonquin Power & Utilities New 0.02% +0.02

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 116$3.3BHUM, RY, BN, GOOGL, MRVL
Q1 2026 120$2.9BBN, RY, GOOGL, STN, BMO
Q4 2025 73$4.0BBN, RY, GOOGL, GIL, CNQ