Fiera Capital Corp
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 7, 2025), Fiera Capital Corp reported 461 stock positions worth $27.7 billion. Its top holding was Microsoft (MSFT) at 5.1% of the portfolio, followed by Taiwan Semiconductor-SP ADR (TSM, 4.7%) and AutoZone (AZO, 4.5%). Compared with Q4 2024, it opened 34 new positions, sold out of 25, added to 135 and reduced 195. The biggest buy was Copart (CPRT, shares +196%) and the biggest sale Taiwan Semiconductor-SP ADR (TSM, shares −22%).
- Most Recent 13F
- Q2 2026
- Location
- MONTREAL, A8
- CIK
- 0001505817
- Portfolio Value
- $27.7B (Q1 2025)
- SEC Filing
- 0001085146-25-002720 ↗ filed May 7, 2025
Holdings Value
Holdings 461 stocks · $27.7B
| MSFT Microsoft Corp. | 5.08% | 3,742,775 | $1.4B | Reduce -16.7% |
| TSM Taiwan Semiconductor-SP ADR | 4.65% | 7,754,541 | $1.3B | Reduce -22.0% |
| AZO AutoZone Inc. | 4.51% | 327,770 | $1.2B | Reduce -19.3% |
| GOOGL Alphabet Inc. Class A | 4.45% | 7,965,865 | $1.2B | Reduce -17.1% |
| MCO Moody's Corp. | 4.27% | 2,539,825 | $1.2B | Reduce -16.4% |
| MA Mastercard Inc. Class A | 3.72% | 1,877,549 | $1.0B | Reduce -21.5% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 2.68% | 6,081,104 | $740.7M | Reduce -17.3% |
| CME Cme Group Inc. | 2.63% | 2,746,215 | $728.5M | Reduce -16.9% |
| UNH Unitedhealth Group Inc. | 2.52% | 1,333,584 | $698.5M | Reduce -17.3% |
| SHW The Sherwin-Williams Co. | 2.32% | 1,835,515 | $640.9M | Reduce -17.5% |
| ORCL Oracle Corp. | 2.07% | 4,091,358 | $572.0M | Reduce -7.0% |
| OTIS Otis Worldwide Corp. | 2.01% | 5,394,299 | $556.7M | Reduce -18.2% |
| MSCI MSCI Inc. | 1.94% | 949,168 | $536.8M | Reduce -17.4% |
| RY Royal Bank of Canada | 1.93% | 4,741,694 | $534.7M | Add +2.3% |
| CNI Canadian Natl Railway Co. | 1.92% | 5,469,682 | $532.8M | Reduce -2.8% |
| PEP Pepsico Inc. | 1.88% | 3,467,510 | $519.9M | Reduce -1.1% |
| JNJ Johnson & Johnson | 1.75% | 2,913,416 | $483.2M | Reduce -6.8% |
| WCN Waste Connections Inc. | 1.72% | 2,437,854 | $475.6M | Add +6.9% |
| GIB Cgi Inc. | 1.58% | 4,380,743 | $437.8M | Add +2.1% |
| TRI Thomson Reuters Corp. | 1.56% | 2,492,267 | $430.5M | Reduce -0.2% |
| CARR Carrier Global Corp. | 1.54% | 6,713,817 | $425.7M | Reduce -7.1% |
| CP Canadian Pacific Kansas City | 1.43% | 5,654,147 | $397.2M | Reduce -0.1% |
| GGG Graco Inc. | 1.40% | 4,656,265 | $388.8M | Reduce -20.5% |
| RBA RB Global Inc. | 1.37% | 3,773,914 | $379.2M | Add +17.3% |
| SPGI S&P Global Inc. | 1.35% | 737,655 | $374.8M | Reduce -12.1% |
| BMO Bank of Montreal filed as BANK MONTREAL QUE | 1.33% | 3,864,901 | $369.4M | Add +4.4% |
| QQQ Invesco QQQ Trust Series 1 | 1.25% | 736,273 | $345.3M | Add +2.3% |
| MTD Mettler-Toledo International | 1.23% | 288,097 | $340.2M | Reduce -17.6% |
| HDB HDFC Bank Ltd.-ADR | 1.21% | 5,032,882 | $334.4M | Reduce -12.6% |
| QSR Restaurant Brands Intern | 1.02% | 4,219,476 | $281.6M | Add +14.2% |
| DSGX The Descartes Systems Grp | 1.00% | 2,745,848 | $276.7M | Add +8.0% |
| VOO Vanguard S&P 500 ETF | 0.91% | 489,958 | $251.8M | Reduce -2.0% |
| TU Telus Corp. | 0.84% | 16,270,907 | $233.6M | Add +1.2% |
| CPRT Copart Inc. | 0.82% | 3,992,610 | $225.9M | Add +195.6% |
| ALC Alcon Inc. filed as ALCON AG | 0.73% | 2,139,703 | $203.1M | Reduce -16.7% |
| STN Stantec Inc. | 0.70% | 2,342,505 | $194.4M | Reduce -3.6% |
| V Visa Inc. Class A | 0.67% | 529,667 | $185.6M | Reduce -13.3% |
| AON Aon PLC Class A | 0.65% | 453,395 | $180.9M | Reduce -8.8% |
| LIN Linde PLC | 0.62% | 368,275 | $171.5M | Reduce -17.6% |
| LOW Lowe's Cos Inc. | 0.60% | 708,765 | $165.3M | Reduce -11.2% |
| TW Tradeweb Markets Inc. Class A | 0.54% | 1,008,660 | $149.7M | Reduce -3.1% |
| ADBE Adobe Inc. | 0.45% | 325,111 | $124.7M | Reduce -20.9% |
| ADI Analog Devices Inc. | 0.44% | 597,895 | $120.6M | Reduce -16.5% |
| FDS Factset Research Systems Inc. | 0.43% | 260,914 | $118.6M | Reduce -8.6% |
| BDX Becton Dickinson and Co. | 0.38% | 461,836 | $105.8M | Reduce -67.0% |
| ZTS Zoetis Inc. | 0.38% | 642,015 | $105.7M | Reduce -0.4% |
| HLT Hilton Worldwide Holdings Inc. | 0.35% | 428,516 | $97.5M | Reduce -8.3% |
| HEI.A Heico Corp. Class A | 0.35% | 460,638 | $97.2M | Reduce -3.4% |
| AMZN Amazon.com Inc. | 0.34% | 496,181 | $94.4M | Add +10.2% |
| ARGX Argenx SE - ADR | 0.33% | 154,416 | $91.4M | Reduce -0.5% |
| SNPS Synopsys Inc. | 0.32% | 205,921 | $88.3M | Add +4.8% |
| FTNT Fortinet Inc. | 0.32% | 908,715 | $87.5M | Reduce -12.8% |
| BWXT BWX Technologies Inc. | 0.31% | 867,312 | $85.6M | Reduce -0.2% |
| CL Colgate-Palmolive Co. | 0.30% | 876,720 | $82.1M | Reduce -11.6% |
| IT Gartner Inc. | 0.29% | 193,653 | $81.3M | Reduce -16.3% |
| VEEV Veeva Systems Inc. Class A | 0.29% | 348,736 | $80.8M | Reduce -2.5% |
| SU Suncor Energy Inc. | 0.27% | 1,919,956 | $74.4M | Add +29.1% |
| ROL Rollins Inc. | 0.27% | 1,371,666 | $74.1M | Add +21.3% |
| TMO Thermo Fisher Scientific Inc. | 0.27% | 148,086 | $73.7M | Reduce -4.8% |
| COST Costco Wholesale Corp. | 0.25% | 73,631 | $69.6M | Add +1.1% |
| CNQ Canadian Natural Resources | 0.25% | 2,254,990 | $69.5M | Reduce -24.0% |
| NKE Nike Inc. Class B | 0.24% | 1,033,483 | $65.6M | Reduce -8.0% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.24% | 116,894 | $65.4M | Reduce -11.6% |
| TYL Tyler Technologies Inc. | 0.23% | 111,499 | $64.8M | Reduce -36.6% |
| APH Amphenol Corp. Class A | 0.23% | 980,764 | $64.3M | Reduce -1.0% |
| FNV Franco-Nevada Corp. | 0.21% | 376,754 | $59.3M | Add +10.9% |
| SF Stifel Financial Corp. | 0.21% | 625,901 | $59.0M | Reduce -2.7% |
| IDXX Idexx Laboratories Inc. | 0.21% | 137,588 | $57.8M | Reduce -2.6% |
| GTLB Gitlab Inc. Class A | 0.20% | 1,187,597 | $55.8M | Reduce -3.5% |
| EQT Eqt Corp. | 0.20% | 1,036,448 | $55.4M | Add +50.8% |
| NBIX Neurocrine Biosciences Inc. | 0.20% | 494,475 | $54.7M | Reduce -0.9% |
| FROG Jfrog Ltd. | 0.20% | 1,694,635 | $54.2M | Add +12.2% |
| SWTX Springworks Therapeutics Inc. | 0.20% | 1,224,210 | $54.0M | Add +0.4% |
| ANET Arista Networks Inc. | 0.19% | 694,362 | $53.8M | Add +351.2% |
| MDB Mongodb Inc. | 0.19% | 302,671 | $53.1M | Add +38.2% |
| WING Wingstop Inc. | 0.19% | 235,059 | $53.0M | Reduce -0.8% |
| DLB Dolby Laboratories Inc. Class A | 0.19% | 639,404 | $51.4M | Add +19.0% |
| CHWY Chewy Inc. Class A | 0.18% | 1,565,831 | $50.9M | Reduce -0.1% |
| TD Toronto-Dominion Bank | 0.18% | 844,061 | $50.6M | Reduce -78.7% |
| EXPE Expedia Group Inc. | 0.18% | 299,953 | $50.4M | Reduce -35.6% |
| CW Curtiss-Wright Corp. | 0.18% | 157,944 | $50.1M | Reduce -0.3% |
| SLF Sun Life Financial Inc. | 0.18% | 855,352 | $49.0M | Add +5.0% |
| MUSA Murphy USA Inc. | 0.17% | 102,809 | $48.3M | Reduce -3.1% |
| ENTG Entegris Inc. | 0.17% | 536,182 | $46.9M | Reduce -1.0% |
| WTFC Wintrust Financial Corp. | 0.17% | 417,083 | $46.9M | Reduce -0.8% |
| LII Lennox International Inc. | 0.16% | 81,150 | $45.5M | Reduce -0.7% |
| PCOR Procore Technologies Inc. | 0.16% | 684,068 | $45.2M | Reduce -0.6% |
| GDDY GoDaddy Inc. Class A | 0.16% | 248,939 | $44.8M | Reduce -46.6% |
| FSV Firstservice Corp. | 0.16% | 268,935 | $44.6M | Add +3.9% |
| GWRE Guidewire Software Inc. | 0.16% | 237,920 | $44.6M | New |
| NTR Nutrien Ltd. | 0.16% | 895,964 | $44.5M | Reduce -8.4% |
| HLI Houlihan Lokey Inc. | 0.16% | 275,329 | $44.5M | Reduce -0.8% |
| INSM Insmed Inc. | 0.16% | 579,237 | $44.2M | Reduce -0.5% |
| MDGL Madrigal Pharmaceuticals Inc. | 0.16% | 132,179 | $43.8M | Add +23.1% |
| SFM Sprouts Farmers Market Inc. | 0.16% | 283,473 | $43.3M | Reduce -0.2% |
| DOCU Docusign Inc. | 0.16% | 528,204 | $43.0M | Reduce -0.9% |
| LSCC Lattice Semiconductor Corp. | 0.15% | 815,732 | $42.8M | Reduce -3.8% |
| PBA Pembina Pipeline Corp. | 0.15% | 1,049,257 | $42.0M | Reduce -6.0% |
| AIT Applied Industrial Tech Inc. | 0.15% | 185,018 | $41.7M | Add +44.9% |
| HUBB Hubbell Inc. | 0.15% | 123,626 | $40.9M | Reduce -0.9% |
Portfolio Sells Q4 2024 → Q1 2025
| TSM Taiwan Semiconductor-SP ADR | Reduce -22.0% | 4.65% | −1.53 |
| GOOGL Alphabet Inc. Class A | Reduce -17.1% | 4.45% | −1.28 |
| MSFT Microsoft Corp. | Reduce -16.7% | 5.08% | −0.89 |
| BDX Becton Dickinson and Co. | Reduce -67.0% | 0.38% | −0.62 |
| TD Toronto-Dominion Bank | Reduce -78.7% | 0.18% | −0.48 |
| MCO Moody's Corp. | Reduce -16.4% | 4.27% | −0.26 |
| MA Mastercard Inc. Class A | Reduce -21.5% | 3.72% | −0.25 |
| ORCL Oracle Corp. | Reduce -7.0% | 2.07% | −0.24 |
| HUBS HubSpot Inc. | Reduce -97.7% | 0.01% | −0.24 |
| MSCI MSCI Inc. | Reduce -17.4% | 1.94% | −0.23 |
| NYT New York Times Co. Class A | Reduce -98.2% | 0.00% | −0.20 |
| MANH Manhattan Associates Inc. | Sold out | 0.00% | −0.18 |
| DECK Deckers Outdoor Corp. | Reduce -55.8% | 0.06% | −0.15 |
| AOS Smith (a.o.) Corp. | Sold out | 0.00% | −0.15 |
| TPR Tapestry Inc. | Reduce -63.4% | 0.13% | −0.15 |
| GGG Graco Inc. | Reduce -20.5% | 1.40% | −0.15 |
| WST West Pharmaceutical Services | Sold out | 0.00% | −0.15 |
| GDDY GoDaddy Inc. Class A | Reduce -46.6% | 0.16% | −0.13 |
| ADBE Adobe Inc. | Reduce -20.9% | 0.45% | −0.13 |
| TJX TJX Companies Inc. | Reduce -17.3% | 2.68% | −0.12 |
| MTD Mettler-Toledo International | Reduce -17.6% | 1.23% | −0.12 |
| EME Emcor Group Inc. | Reduce -42.1% | 0.13% | −0.11 |
| CHX Championx Corp. | Reduce -92.7% | 0.01% | −0.10 |
| EXPE Expedia Group Inc. | Reduce -35.6% | 0.18% | −0.09 |
| FOLD Amicus Therapeutics Inc. | Sold out | 0.00% | −0.09 |
| TYL Tyler Technologies Inc. | Reduce -36.6% | 0.23% | −0.09 |
| NARI Inari Medical Inc. | Sold out | 0.00% | −0.08 |
| H Hyatt Hotels Corp. Class A | Reduce -35.4% | 0.11% | −0.08 |
| TXRH Texas Roadhouse Inc. | Reduce -61.6% | 0.05% | −0.08 |
| ANSS Ansys Inc. | Reduce -42.5% | 0.11% | −0.07 |
| SHW The Sherwin-Williams Co. | Reduce -17.5% | 2.32% | −0.07 |
| IT Gartner Inc. | Reduce -16.3% | 0.29% | −0.06 |
| SRPT Sarepta Therapeutics Inc. | Reduce -1.3% | 0.08% | −0.05 |
| STNG Scorpio Tankers Inc. | Sold out | 0.00% | −0.05 |
| UNH Unitedhealth Group Inc. | Reduce -17.3% | 2.52% | −0.05 |
| ADI Analog Devices Inc. | Reduce -16.5% | 0.44% | −0.04 |
| CNQ Canadian Natural Resources | Reduce -24.0% | 0.25% | −0.04 |
| TFII Tfi International Inc. | Reduce -8.7% | 0.05% | −0.03 |
| NKE Nike Inc. Class B | Reduce -8.0% | 0.24% | −0.03 |
| DHR Danaher Corp. | Reduce -21.9% | 0.10% | −0.02 |
| SDRL Seadrill Limited | Sold out | 0.00% | −0.02 |
| LOW Lowe's Cos Inc. | Reduce -11.2% | 0.60% | −0.02 |
| WING Wingstop Inc. | Reduce -0.8% | 0.19% | −0.02 |
| CRNX Crinetics Pharmaceuticals Inc. | Reduce -3.7% | 0.05% | −0.02 |
| NBIX Neurocrine Biosciences Inc. | Reduce -0.9% | 0.20% | −0.02 |
| HUBB Hubbell Inc. | Reduce -0.9% | 0.15% | −0.02 |
| GTLB Gitlab Inc. Class A | Reduce -3.5% | 0.20% | −0.02 |
| CARR Carrier Global Corp. | Reduce -7.1% | 1.54% | −0.02 |
| TBBB BBB Foods Inc. Class A | Sold out | 0.00% | −0.02 |
| IJR iShares Core S&P Small-Cap E | Reduce -15.0% | 0.11% | −0.01 |
Portfolio Buys Q4 2024 → Q1 2025
| CPRT Copart Inc. | Add +195.6% | 0.82% | +0.57 |
| WCN Waste Connections Inc. | Add +6.9% | 1.72% | +0.49 |
| RBA RB Global Inc. | Add +17.3% | 1.37% | +0.46 |
| QSR Restaurant Brands Intern | Add +14.2% | 1.02% | +0.26 |
| BMO Bank of Montreal | Add +4.4% | 1.33% | +0.20 |
| RY Royal Bank of Canada | Add +2.3% | 1.93% | +0.17 |
| GWRE Guidewire Software Inc. | New | 0.16% | +0.16 |
| TU Telus Corp. | Add +1.2% | 0.84% | +0.16 |
| ANET Arista Networks Inc. | Add +351.2% | 0.19% | +0.14 |
| APPF Appfolio Inc. Class A | New | 0.13% | +0.13 |
| EPAM Epam Systems Inc. | New | 0.11% | +0.11 |
| PLNT Planet Fitness Inc. Class A | New | 0.11% | +0.11 |
| SPSC SPS Commerce Inc. | New | 0.11% | +0.11 |
| LRN Stride Inc. | New | 0.11% | +0.11 |
| GIB Cgi Inc. | Add +2.1% | 1.58% | +0.10 |
| ROL Rollins Inc. | Add +21.3% | 0.27% | +0.10 |
| SU Suncor Energy Inc. | Add +29.1% | 0.27% | +0.10 |
| FTDR Frontdoor Inc. | New | 0.10% | +0.10 |
| EQT Eqt Corp. | Add +50.8% | 0.20% | +0.10 |
| VERX Vertex Inc. Class A | New | 0.10% | +0.10 |
| DSGX The Descartes Systems Grp | Add +8.0% | 1.00% | +0.09 |
| FNV Franco-Nevada Corp. | Add +10.9% | 0.21% | +0.09 |
| QQQ Invesco QQQ Trust Series 1 | Add +2.3% | 1.25% | +0.09 |
| WH Wyndham Hotels & Resorts Inc. | New | 0.08% | +0.08 |
| RBRK Rubrik Inc. Class A | New | 0.07% | +0.07 |
| GMED Globus Medical Inc. Class A | New | 0.07% | +0.07 |
| PEGA Pegasystems Inc. | New | 0.07% | +0.07 |
| WFRD Weatherford International PL | Add +1465.4% | 0.07% | +0.06 |
| SWTX Springworks Therapeutics Inc. | Add +0.4% | 0.20% | +0.06 |
| DORM Dorman Products Inc. | Add +52.1% | 0.15% | +0.06 |
| FROG Jfrog Ltd. | Add +12.2% | 0.20% | +0.06 |
| AIT Applied Industrial Tech Inc. | Add +44.9% | 0.15% | +0.05 |
| MDGL Madrigal Pharmaceuticals Inc. | Add +23.1% | 0.16% | +0.05 |
| DLB Dolby Laboratories Inc. Class A | Add +19.0% | 0.19% | +0.05 |
| BHVN Biohaven Ltd. | New | 0.05% | +0.05 |
| CSW CSW Industrials Inc. | New | 0.05% | +0.05 |
| UPWK Upwork Inc. | New | 0.05% | +0.05 |
| PCVX Vaxcyte Inc. | New | 0.05% | +0.05 |
| VVV Valvoline Inc. | Add +58.0% | 0.11% | +0.05 |
| RNAM Avidity Biosciences Inc. | Add +92.5% | 0.08% | +0.05 |
| PAYO Payoneer Global Inc. | New | 0.04% | +0.04 |
| COST Costco Wholesale Corp. | Add +1.1% | 0.25% | +0.04 |
| ESTC Elastic NV | Add +56.4% | 0.10% | +0.04 |
| OPCH Option Care Health Inc. | Add +3.5% | 0.08% | +0.04 |
| BLDR Builders Firstsource Inc. | Add +40.8% | 0.12% | +0.04 |
| EFA iShares MSCI Eafe ETF | Add +7.0% | 0.13% | +0.03 |
| LAUR Laureate Education Inc. | Add +43.4% | 0.07% | +0.03 |
| MDB Mongodb Inc. | Add +38.2% | 0.19% | +0.03 |
| AMZN Amazon.com Inc. | Add +10.2% | 0.34% | +0.03 |
| BILL Bill Holdings Inc. | Add +124.8% | 0.11% | +0.03 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 401 | $27.6B | TSM, GOOGL, MSFT, MCO, MA |
| Q1 2026 | 412 | $29.2B | TSM, GOOGL, MSFT, MCO, MA |
| Q4 2025 | 417 | $31.5B | GOOGL, TSM, MSFT, MCO, MA |
| Q3 2025 | 436 | $30.9B | TSM, MSFT, GOOGL, AZO, MCO |
| Q2 2025 | 439 | $29.5B | MSFT, TSM, GOOGL, MCO, AZO |
| Q1 2025 | 461 | $27.7B | MSFT, TSM, AZO, GOOGL, MCO |
| Q4 2024 | 452 | $31.8B | TSM, MSFT, GOOGL, MCO, AZO |
| Q3 2024 | 456 | $33.3B | MSFT, TSM, GOOGL, MCO, AZO |
| Q2 2024Amended | 445 | $32.3B | MSFT, TSM, GOOGL, MCO, AZO |
| Q1 2024Amended | 476 | $34.3B | MSFT, TSM, GOOGL, MCO, AZO |