Dixon Mitchell Investment Counsel Inc.
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 14, 2025), Dixon Mitchell Investment Counsel Inc. reported 103 stock positions worth $2.2 billion. Its top holding was iShares Core MSCI Eafe ETF (IEFA) at 6.3% of the portfolio, followed by Visa Class A (V, 5.9%) and Intercontinental Exchange (ICE, 5.5%). Compared with Q4 2024, it opened 15 new positions, sold out of 27, added to 33 and reduced 31. The biggest buy was iShares Core MSCI Eafe ETF (IEFA, shares +138%) and the biggest sale Alphabet Class A (GOOGL, shares −33%).
- Most Recent 13F
- Q2 2026
- Location
- VANCOUVER, A1
- CIK
- 0001993485
- Portfolio Value
- $2.2B (Q1 2025)
- SEC Filing
- 0001993485-25-000004 ↗ filed May 14, 2025
Holdings Value
Holdings 103 stocks · $2.2B
| IEFA iShares Core MSCI Eafe ETF | 6.34% | 1,857,834 | $140.5M | Add +138.4% |
| V Visa Inc. Class A | 5.87% | 370,757 | $130.1M | Reduce -6.3% |
| ICE Intercontinental Exchange Inc. | 5.53% | 710,378 | $122.6M | Reduce -2.4% |
| BRK.B Berkshire Hathaway Inc. Class B | 5.06% | 210,311 | $112.2M | Reduce -7.5% |
| MSFT Microsoft Corp. | 4.61% | 271,831 | $102.1M | Add +33.9% |
| TD Toronto-Dominion Bank | 4.39% | 1,622,602 | $97.3M | Add +10.4% |
| RY Royal Bank of Canada | 4.37% | 859,911 | $96.9M | Add +4.3% |
| BN Brookfield Corp. | 3.95% | 1,673,701 | $87.6M | Add +3.5% |
| GOOGL Alphabet Inc. Class A | 3.66% | 523,403 | $81.1M | Reduce -33.2% |
| TMO Thermo Fisher Scientific Inc. | 3.40% | 151,354 | $75.4M | Add +36.9% |
| AME Ametek Inc. | 3.01% | 387,294 | $66.7M | Add +1.0% |
| CNQ Canadian Natural Resources | 2.92% | 2,074,695 | $64.7M | Add +3.9% |
| WPM Wheaton Precious Metals Corp. | 2.87% | 818,759 | $63.6M | Add +3.6% |
| DPZ Domino's Pizza Inc. | 2.65% | 127,921 | $58.8M | Add +0.2% |
| LOW Lowe's Cos Inc. | 2.62% | 248,427 | $58.0M | Reduce -0.4% |
| ROP Roper Technologies Inc. | 2.40% | 90,070 | $53.1M | Reduce -15.3% |
| HEI Heico Corp. | 2.34% | 193,809 | $51.8M | New |
| BIP Brookfield Infrastructure Pa | 2.29% | 1,706,335 | $50.8M | Add +7.4% |
| AMZN Amazon.com Inc. | 2.26% | 263,068 | $50.1M | Add +0.2% |
| CNI Canadian Natl Railway Co. | 2.24% | 509,827 | $49.6M | Add +3.9% |
| TXN Texas Instruments Inc. | 2.00% | 246,409 | $44.3M | Reduce -0.0% |
| TFII Tfi International Inc. | 1.99% | 566,890 | $44.2M | Add +5.2% |
| MEOH Methanex Corp. | 1.94% | 1,226,535 | $43.0M | Add +3.9% |
| TRI Thomson Reuters Corp. | 1.63% | 209,581 | $36.2M | Add +2.1% |
| DHR Danaher Corp. | 1.54% | 165,800 | $34.1M | Add +13.0% |
| MIDD Middleby Corp. | 1.53% | 223,197 | $33.9M | Add +0.6% |
| FTNT Fortinet Inc. | 1.31% | 302,586 | $29.1M | Add +0.9% |
| CSL Carlisle Cos Inc. | 1.21% | 78,682 | $26.8M | Add +30.9% |
| AAPL Apple Inc. | 1.20% | 119,367 | $26.6M | Reduce -33.4% |
| META Meta Platforms Inc. Class A | 1.19% | 45,850 | $26.4M | New |
| HCA HCA Healthcare Inc. | 1.05% | 67,218 | $23.3M | Add +1.0% |
| CMCSA Comcast Corp. Class A | 1.04% | 624,277 | $23.1M | Reduce -0.2% |
| BLD Topbuild Corp. | 1.04% | 75,273 | $23.0M | Add +20.2% |
| WCN Waste Connections Inc. | 0.93% | 106,081 | $20.7M | Add +50.2% |
| CP Canadian Pacific Kansas City | 0.91% | 286,966 | $20.2M | Add +8.9% |
| JPM JPMorgan Chase & Co. | 0.88% | 79,598 | $19.6M | Reduce -23.9% |
| MFC Manulife Financial Corp. | 0.85% | 601,946 | $18.8M | Add +7.5% |
| NFLX Netflix Inc. | 0.69% | 16,432 | $15.4M | Reduce -27.8% |
| ZTS Zoetis Inc. | 0.64% | 85,909 | $14.1M | Add +0.3% |
| MA Mastercard Inc. Class A | 0.53% | 21,490 | $11.8M | Reduce -41.2% |
| CIGI Colliers Intl GR-Subord Vot | 0.50% | 91,011 | $11.0M | Add +5.8% |
| TFPM Triple Flag Precious Met | 0.49% | 563,989 | $10.8M | No change |
| NTR Nutrien Ltd. | 0.47% | 206,436 | $10.4M | Add +8.8% |
| ATS Ats Corp. | 0.40% | 356,125 | $8.9M | Add +5.8% |
| ORCL Oracle Corp. | 0.40% | 62,501 | $8.8M | Reduce -63.0% |
| SPGI S&P Global Inc. | 0.36% | 15,831 | $8.1M | Reduce -1.6% |
| SHOP Shopify Inc. Class A | 0.32% | 73,840 | $7.0M | Reduce -63.7% |
| AGG iShares Core U.S. Aggregate | 0.07% | 15,604 | $1.5M | Add +728.2% |
| GOOG Alphabet Inc. Class C | 0.03% | 3,972 | $621K | Reduce -27.2% |
| BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA HALIFAX | 0.02% | 6,272 | $341K | Reduce -99.2% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.01% | 455 | $255K | Add +9.6% |
| BKNG Booking Holdings Inc. | 0.01% | 42 | $253K | Reduce -30.0% |
| QQQ Invesco QQQ Trust Series 1 | 0.01% | 376 | $177K | Reduce -64.6% |
| SGOV iShares 0-3 Month Treasury B | 0.01% | 1,472 | $148K | No change |
| OEF iShares S&P 100 ETF | 0.01% | 450 | $122K | No change |
| KO The Coca-Cola Co. | 0.00% | 1,521 | $110K | No change |
| IJH iShares Core S&P Midcap ETF | 0.00% | 1,750 | $102K | No change |
| ARKK ARK Innovation ETF | 0.00% | 2,084 | $99K | Reduce -67.7% |
| BSV Vanguard Short-Term Bond ETF | 0.00% | 707 | $55K | No change |
| ENB Enbridge Inc. | 0.00% | 748 | $46K | Reduce -22.6% |
| SLF Sun Life Financial Inc. | 0.00% | 750 | $43K | No change |
| CVS CVS Health Corp. | 0.00% | 187 | $39K | Reduce -84.0% |
| DHI D.R. Horton Inc. | 0.00% | 33 | $31K | Reduce -91.5% |
| SU Suncor Energy Inc. | 0.00% | 730 | $28K | Reduce -85.0% |
| GBTC Grayscale Bitcoin Trust ETF | 0.00% | 425 | $28K | No change |
| LSPD Lightspeed Commerce Inc. | 0.00% | 2,500 | $22K | No change |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.00% | 500 | $21K | No change |
| AEM Agnico Eagle Mines Ltd. | 0.00% | 178 | $19K | Reduce -84.4% |
| TRP TC Energy Corp. | 0.00% | 335 | $16K | Reduce -82.6% |
| NVDA Nvidia Corp. | 0.00% | 146 | $16K | No change |
| RCI Rogers Communications Inc. Class B | 0.00% | 314 | $16K | Reduce -99.8% |
| C Citigroup Inc. | 0.00% | 186 | $13K | No change |
| WFG West Fraser Timber Co. Ltd. | 0.00% | 162 | $12K | Add +22.7% |
| COST Costco Wholesale Corp. | 0.00% | 13 | $12K | Reduce -79.4% |
| PH Parker Hannifin Corp. | 0.00% | 19 | $12K | No change |
| MS Morgan Stanley | 0.00% | 86 | $10K | No change |
| GS Goldman Sachs Group Inc. | 0.00% | 17 | $9K | No change |
| PANW Palo Alto Networks Inc. | 0.00% | 48 | $8K | No change |
| LLY Eli Lilly & Co. | 0.00% | 9 | $7K | No change |
| XLY SS Consumer Disc Select Sect | 0.00% | 35 | $7K | New |
| BTE Baytex Energy Corp. | 0.00% | 3,031 | $7K | No change |
| WMT Walmart Inc. | 0.00% | 75 | $7K | No change |
| IWM iShares Russell 2000 ETF | 0.00% | 30 | $6K | New |
| JNJ Johnson & Johnson | 0.00% | 35 | $6K | No change |
| BLK BlackRock Inc. | 0.00% | 6 | $6K | No change |
| AGI Alamos Gold Inc. Class A | 0.00% | 165 | $4K | New |
| PBA Pembina Pipeline Corp. | 0.00% | 95 | $4K | New |
| ARKG ARK Genomic Revolution ETF | 0.00% | 170 | $4K | No change |
| OR Osisko Gold Royalties Ltd. | 0.00% | 165 | $3K | New |
| GFL GFL Environmental Inc.-Sub VT | 0.00% | 70 | $3K | New |
| STN Stantec Inc. | 0.00% | 40 | $3K | Reduce -48.0% |
| FTS Fortis Inc. | 0.00% | 70 | $3K | Reduce -88.3% |
| BTC Grayscale Bitcoin Mini ETF | 0.00% | 85 | $3K | No change |
| EGO Eldorado Gold Corp. | 0.00% | 175 | $3K | New |
| BMO Bank of Montreal filed as BANK MONTREAL QUE | 0.00% | 30 | $3K | Reduce -98.8% |
| CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BK COMM | 0.00% | 45 | $3K | New |
| GIB Cgi Inc. | 0.00% | 25 | $2K | New |
| FSV Firstservice Corp. | 0.00% | 15 | $2K | New |
| TECK Teck Resources Ltd.-CLS B | 0.00% | 65 | $2K | Add +1200.0% |
| CLS Celestica Inc. | 0.00% | 30 | $2K | New |
| TU Telus Corp. | 0.00% | 150 | $2K | New |
| MOGO INC | 0.00% | 713 | $604 | No change |
| BLCO Bausch + Lomb Corp. | 0.00% | 40 | $580 | New |
Portfolio Sells Q4 2024 → Q1 2025
| GOOGL Alphabet Inc. Class A | Reduce -33.2% | 3.66% | −3.20 |
| BNS Bank of Nova Scotia | Reduce -99.2% | 0.02% | −1.82 |
| ORCL Oracle Corp. | Reduce -63.0% | 0.40% | −0.90 |
| AAPL Apple Inc. | Reduce -33.4% | 1.20% | −0.88 |
| SHOP Shopify Inc. Class A | Reduce -63.7% | 0.32% | −0.68 |
| MA Mastercard Inc. Class A | Reduce -41.2% | 0.53% | −0.36 |
| JPM JPMorgan Chase & Co. | Reduce -23.9% | 0.88% | −0.28 |
| NFLX Netflix Inc. | Reduce -27.8% | 0.69% | −0.24 |
| LOW Lowe's Cos Inc. | Reduce -0.4% | 2.62% | −0.23 |
| RCI Rogers Communications Inc. Class B | Reduce -99.8% | 0.00% | −0.22 |
| ROP Roper Technologies Inc. | Reduce -15.3% | 2.40% | −0.16 |
| TXN Texas Instruments Inc. | Reduce -0.0% | 2.00% | −0.14 |
| CMCSA Comcast Corp. Class A | Reduce -0.2% | 1.04% | −0.04 |
| GOOG Alphabet Inc. Class C | Reduce -27.2% | 0.03% | −0.02 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -64.6% | 0.01% | −0.02 |
| ARKK ARK Innovation ETF | Reduce -67.7% | 0.00% | −0.01 |
| BMO Bank of Montreal | Reduce -98.8% | 0.00% | −0.01 |
| SU Suncor Energy Inc. | Reduce -85.0% | 0.00% | −0.01 |
| SPGI S&P Global Inc. | Reduce -1.6% | 0.36% | −0.01 |
| TRP TC Energy Corp. | Reduce -82.6% | 0.00% | −0.00 |
| AEM Agnico Eagle Mines Ltd. | Reduce -84.4% | 0.00% | −0.00 |
| INDA iShares MSCI India ETF | Sold out | 0.00% | −0.00 |
| BKNG Booking Holdings Inc. | Reduce -30.0% | 0.01% | −0.00 |
| VBR Vngrd Mrngst SL-CP Val ETF-U | Sold out | 0.00% | −0.00 |
| COST Costco Wholesale Corp. | Reduce -79.4% | 0.00% | −0.00 |
| VYM Vanguard High DVD Yield ETF | Sold out | 0.00% | −0.00 |
| VEU Vanguard Ftse All-World Ex-U | Sold out | 0.00% | −0.00 |
| VCR Vanguard Consumer Discre ETF | Sold out | 0.00% | −0.00 |
| GIL Gildan Activewear Inc. | Sold out | 0.00% | −0.00 |
| VHT Vanguard Health Care ETF | Sold out | 0.00% | −0.00 |
| DHI D.R. Horton Inc. | Reduce -91.5% | 0.00% | −0.00 |
| FTV Fortive Corp. | Sold out | 0.00% | −0.00 |
| VFH Vanguard Financials ETF | Sold out | 0.00% | −0.00 |
| VRN Veren Inc. | Sold out | 0.00% | −0.00 |
| FTS Fortis Inc. | Reduce -88.3% | 0.00% | −0.00 |
| MGK Vngrd Mrgstr MG CP GR ETF-Ui | Sold out | 0.00% | −0.00 |
| CVS CVS Health Corp. | Reduce -84.0% | 0.00% | −0.00 |
| BEP Brookfield Renewable Partner | Sold out | 0.00% | −0.00 |
| VBK Van Morst SML-Cap Gro-Usd Inc. | Sold out | 0.00% | −0.00 |
| SOBO South Bow Corp. | Sold out | 0.00% | −0.00 |
| UNH Unitedhealth Group Inc. | Sold out | 0.00% | −0.00 |
| BAM Brookfield Asset Mgmt-A | Sold out | 0.00% | −0.00 |
| FCX Freeport-McMoran Inc. | Sold out | 0.00% | −0.00 |
| GILD Gilead Sciences Inc. | Sold out | 0.00% | −0.00 |
| QSR Restaurant Brands Intern | Sold out | 0.00% | −0.00 |
| TTD Trade Desk Inc./the Class A | Sold out | 0.00% | −0.00 |
| AMD Advanced Micro Devices | Sold out | 0.00% | −0.00 |
| OTEX Open Text Corp. | Sold out | 0.00% | −0.00 |
| POET Poet Technologies Inc. | Sold out | 0.00% | −0.00 |
| LIN Linde PLC | Sold out | 0.00% | −0.00 |
Portfolio Buys Q4 2024 → Q1 2025
| IEFA iShares Core MSCI Eafe ETF | Add +138.4% | 6.34% | +3.81 |
| HEI Heico Corp. | New | 2.34% | +2.34 |
| META Meta Platforms Inc. Class A | New | 1.19% | +1.19 |
| WPM Wheaton Precious Metals Corp. | Add +3.6% | 2.87% | +0.81 |
| TD Toronto-Dominion Bank | Add +10.4% | 4.39% | +0.77 |
| TMO Thermo Fisher Scientific Inc. | Add +36.9% | 3.40% | +0.74 |
| MSFT Microsoft Corp. | Add +33.9% | 4.61% | +0.65 |
| WCN Waste Connections Inc. | Add +50.2% | 0.93% | +0.37 |
| CSL Carlisle Cos Inc. | Add +30.9% | 1.21% | +0.18 |
| DPZ Domino's Pizza Inc. | Add +0.2% | 2.65% | +0.18 |
| MIDD Middleby Corp. | Add +0.6% | 1.53% | +0.14 |
| BLD Topbuild Corp. | Add +20.2% | 1.04% | +0.14 |
| HCA HCA Healthcare Inc. | Add +1.0% | 1.05% | +0.13 |
| TRI Thomson Reuters Corp. | Add +2.1% | 1.63% | +0.11 |
| NTR Nutrien Ltd. | Add +8.8% | 0.47% | +0.08 |
| AGG iShares Core U.S. Aggregate | Add +728.2% | 0.07% | +0.06 |
| MFC Manulife Financial Corp. | Add +7.5% | 0.85% | +0.05 |
| CNQ Canadian Natural Resources | Add +3.9% | 2.92% | +0.03 |
| CP Canadian Pacific Kansas City | Add +8.9% | 0.91% | +0.03 |
| FTNT Fortinet Inc. | Add +0.9% | 1.31% | +0.00 |
| IWM iShares Russell 2000 ETF | New | 0.00% | +0.00 |
| XLY SS Consumer Disc Select Sect | New | 0.00% | +0.00 |
| AGI Alamos Gold Inc. Class A | New | 0.00% | +0.00 |
| GFL GFL Environmental Inc.-Sub VT | New | 0.00% | +0.00 |
| OR Osisko Gold Royalties Ltd. | New | 0.00% | +0.00 |
| PBA Pembina Pipeline Corp. | New | 0.00% | +0.00 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +9.6% | 0.01% | +0.00 |
| GIB Cgi Inc. | New | 0.00% | +0.00 |
| CM Can Imperial BK of Commerce | New | 0.00% | +0.00 |
| CLS Celestica Inc. | New | 0.00% | +0.00 |
| EGO Eldorado Gold Corp. | New | 0.00% | +0.00 |
| FSV Firstservice Corp. | New | 0.00% | +0.00 |
| TECK Teck Resources Ltd.-CLS B | Add +1200.0% | 0.00% | +0.00 |
| TU Telus Corp. | New | 0.00% | +0.00 |
| BLCO Bausch + Lomb Corp. | New | 0.00% | 0.00 |
| WFG West Fraser Timber Co. Ltd. | Add +22.7% | 0.00% | 0.00 |
| ZTS Zoetis Inc. | Add +0.3% | 0.64% | −0.01 |
| DHR Danaher Corp. | Add +13.0% | 1.54% | −0.02 |
| BIP Brookfield Infrastructure Pa | Add +7.4% | 2.29% | −0.04 |
| CIGI Colliers Intl GR-Subord Vot | Add +5.8% | 0.50% | −0.04 |
| CNI Canadian Natl Railway Co. | Add +3.9% | 2.24% | −0.06 |
| ATS Ats Corp. | Add +5.8% | 0.40% | −0.07 |
| AME Ametek Inc. | Add +1.0% | 3.01% | −0.19 |
| RY Royal Bank of Canada | Add +4.3% | 4.37% | −0.22 |
| BN Brookfield Corp. | Add +3.5% | 3.95% | −0.35 |
| AMZN Amazon.com Inc. | Add +0.2% | 2.26% | −0.40 |
| MEOH Methanex Corp. | Add +3.9% | 1.94% | −0.78 |
| TFII Tfi International Inc. | Add +5.2% | 1.99% | −1.37 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 144 | $3.1B | TD, RY, GOOGL, V, BRK.B |
| Q1 2026 | 140 | $2.9B | IEFA, TD, RY, MSFT, GOOGL |
| Q4 2025 | 145 | $3.0B | IEFA, GOOGL, MSFT, TD, RY |
| Q3 2025 | 75 | $2.8B | IEFA, MSFT, GOOGL, TD, RY |
| Q2 2025 | 70 | $2.6B | IEFA, MSFT, V, TD, ICE |
| Q1 2025 | 103 | $2.2B | IEFA, V, ICE, BRK.B, MSFT |
| Q4 2024 | 115 | $2.2B | GOOGL, V, ICE, BRK.B, RY |
| Q3 2024 | 91 | $2.2B | GOOGL, V, ICE, BRK.B, RY |
| Q2 2024 | 161 | $2.0B | GOOGL, V, BRK.B, ICE, MSFT |
| Q1 2024 | 184 | $2.0B | V, GOOGL, BRK.B, ICE, TFII |