Fiera Capital Corp
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 7, 2025), Fiera Capital Corp reported 436 stock positions worth $30.9 billion. Its top holding was Taiwan Semiconductor-SP ADR (TSM) at 6.2% of the portfolio, followed by Microsoft (MSFT, 5.7%) and Alphabet Class A (GOOGL, 5.6%). Compared with Q2 2025, it opened 28 new positions, sold out of 30, added to 159 and reduced 204. The biggest buy was Apple (AAPL, shares +1057%) and the biggest sale Thomson Reuters (TRI, shares −10%).
- Most Recent 13F
- Q2 2026
- Location
- MONTREAL, A8
- CIK
- 0001505817
- Portfolio Value
- $30.9B (Q3 2025)
- SEC Filing
- 0001505817-25-000009 ↗ filed Nov 7, 2025
Holdings Value
Holdings 436 stocks · $30.9B
| TSM Taiwan Semiconductor-SP ADR | 6.17% | 6,831,118 | $1.9B | Reduce -7.2% |
| MSFT Microsoft Corp. | 5.67% | 3,385,161 | $1.8B | Reduce -5.2% |
| GOOGL Alphabet Inc. Class A | 5.61% | 7,133,285 | $1.7B | Reduce -4.5% |
| AZO AutoZone Inc. | 4.00% | 288,775 | $1.2B | Reduce -5.6% |
| MCO Moody's Corp. | 3.83% | 2,485,136 | $1.2B | Reduce -3.5% |
| ORCL Oracle Corp. | 3.53% | 3,884,904 | $1.1B | Reduce -4.5% |
| MA Mastercard Inc. Class A | 3.20% | 1,738,638 | $989.0M | Reduce -3.1% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 2.45% | 5,244,362 | $758.0M | Reduce -6.9% |
| CME Cme Group Inc. | 2.40% | 2,744,106 | $741.4M | Reduce -1.7% |
| RY Royal Bank of Canada | 2.31% | 4,854,424 | $715.2M | Add +2.1% |
| SHW The Sherwin-Williams Co. | 1.97% | 1,764,014 | $610.8M | Reduce -1.4% |
| CNI Canadian Natl Railway Co. | 1.97% | 6,471,710 | $610.1M | Add +11.6% |
| MSCI MSCI Inc. | 1.82% | 993,437 | $563.7M | Add +2.4% |
| BMO Bank of Montreal filed as BANK MONTREAL QUE | 1.67% | 3,967,220 | $516.3M | Add +2.6% |
| JNJ Johnson & Johnson | 1.59% | 2,645,416 | $490.5M | Reduce -4.1% |
| WCN Waste Connections Inc. | 1.53% | 2,694,480 | $473.5M | Add +9.5% |
| OTIS Otis Worldwide Corp. | 1.52% | 5,144,223 | $470.3M | Reduce -3.6% |
| GIB Cgi Inc. | 1.52% | 5,274,126 | $469.6M | Add +17.9% |
| QQQ Invesco QQQ Trust Series 1 | 1.47% | 758,575 | $455.4M | Add +1.4% |
| RBA RB Global Inc. | 1.42% | 4,067,003 | $440.4M | Add +4.9% |
| CP Canadian Pacific Kansas City | 1.41% | 5,864,045 | $436.6M | Add +3.1% |
| PEP Pepsico Inc. | 1.36% | 3,005,792 | $422.1M | Reduce -4.8% |
| MTD Mettler-Toledo International | 1.32% | 333,886 | $409.9M | Reduce -2.6% |
| CPRT Copart Inc. | 1.28% | 8,777,398 | $394.7M | Add +25.4% |
| CARR Carrier Global Corp. | 1.27% | 6,574,673 | $392.5M | Reduce -3.3% |
| GGG Graco Inc. | 1.19% | 4,349,382 | $369.5M | Reduce -3.1% |
| SPGI S&P Global Inc. | 1.17% | 745,746 | $363.0M | Add +3.3% |
| TRI Thomson Reuters Corp. | 1.14% | 2,277,867 | $353.6M | Reduce -9.6% |
| QSR Restaurant Brands Intern | 1.03% | 4,946,163 | $317.2M | Add +17.2% |
| HDB HDFC Bank Ltd.-ADR | 1.02% | 9,221,356 | $315.0M | Reduce -3.4% |
| VOO Vanguard S&P 500 ETF | 0.97% | 491,421 | $300.9M | Add +0.7% |
| UNH Unitedhealth Group Inc. | 0.92% | 823,084 | $284.2M | Reduce -5.8% |
| TU Telus Corp. | 0.91% | 17,867,796 | $281.3M | Add +10.7% |
| DSGX The Descartes Systems Grp | 0.91% | 2,976,093 | $280.1M | Add +10.2% |
| STN Stantec Inc. | 0.86% | 2,469,545 | $266.2M | Add +3.5% |
| AON Aon PLC Class A | 0.63% | 549,334 | $195.9M | Add +5.3% |
| V Visa Inc. Class A | 0.63% | 569,706 | $194.5M | Add +4.4% |
| LOW Lowe's Cos Inc. | 0.56% | 684,592 | $172.0M | Reduce -2.4% |
| LIN Linde PLC | 0.55% | 358,063 | $170.1M | Reduce -0.9% |
| ALC Alcon Inc. filed as ALCON AG | 0.51% | 2,107,839 | $157.1M | Add +1.9% |
| ADI Analog Devices Inc. | 0.50% | 631,204 | $155.1M | Reduce -0.2% |
| HLT Hilton Worldwide Holdings Inc. | 0.49% | 582,294 | $151.1M | Reduce -0.9% |
| AMZN Amazon.com Inc. | 0.43% | 610,549 | $134.1M | Reduce -5.9% |
| ARGX Argenx SE - ADR | 0.42% | 177,654 | $131.0M | Add +12.1% |
| APH Amphenol Corp. Class A | 0.41% | 1,017,080 | $125.9M | Reduce -0.9% |
| INSM Insmed Inc. | 0.38% | 809,121 | $116.5M | Add +8.2% |
| HEI.A Heico Corp. Class A | 0.34% | 413,171 | $105.0M | Reduce -12.0% |
| ANET Arista Networks Inc. | 0.33% | 707,716 | $103.1M | Reduce -14.2% |
| SNPS Synopsys Inc. | 0.33% | 204,675 | $101.0M | Reduce -6.3% |
| BWXT BWX Technologies Inc. | 0.32% | 544,634 | $100.4M | Reduce -2.3% |
| TW Tradeweb Markets Inc. Class A | 0.32% | 883,998 | $98.1M | Reduce -10.6% |
| AAPL Apple Inc. | 0.31% | 375,635 | $95.6M | Add +1057.3% |
| ROL Rollins Inc. | 0.29% | 1,529,042 | $89.8M | Reduce -3.1% |
| FNV Franco-Nevada Corp. | 0.29% | 397,350 | $88.4M | Add +5.2% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.28% | 129,270 | $86.1M | Add +8.2% |
| VEEV Veeva Systems Inc. Class A | 0.27% | 283,685 | $84.5M | Reduce -20.8% |
| IDXX Idexx Laboratories Inc. | 0.27% | 130,521 | $83.4M | Reduce -2.7% |
| CW Curtiss-Wright Corp. | 0.27% | 152,628 | $82.9M | Reduce -2.2% |
| CL Colgate-Palmolive Co. | 0.26% | 1,017,238 | $81.3M | Add +14.7% |
| COST Costco Wholesale Corp. | 0.26% | 87,423 | $80.9M | Add +10.3% |
| FDS Factset Research Systems Inc. | 0.26% | 280,187 | $80.3M | Add +5.3% |
| NKE Nike Inc. Class B | 0.26% | 1,148,529 | $80.1M | Add +1.8% |
| FROG Jfrog Ltd. | 0.25% | 1,639,067 | $77.6M | Reduce -2.2% |
| TMO Thermo Fisher Scientific Inc. | 0.24% | 151,374 | $73.4M | Reduce -3.1% |
| NOW ServiceNow Inc. | 0.23% | 76,510 | $70.4M | Add +837.0% |
| SF Stifel Financial Corp. | 0.22% | 604,626 | $68.6M | Reduce -2.1% |
| META Meta Platforms Inc. Class A | 0.22% | 92,893 | $68.2M | Add +61.2% |
| NBIX Neurocrine Biosciences Inc. | 0.22% | 479,676 | $67.3M | Reduce -2.2% |
| TD Toronto-Dominion Bank | 0.21% | 825,258 | $66.0M | Reduce -1.1% |
| GWRE Guidewire Software Inc. | 0.21% | 285,014 | $65.5M | Reduce -3.1% |
| SU Suncor Energy Inc. | 0.21% | 1,556,690 | $65.1M | Reduce -2.2% |
| EME Emcor Group Inc. | 0.20% | 96,699 | $62.8M | Reduce -0.3% |
| EXPE Expedia Group Inc. | 0.20% | 289,192 | $61.8M | Reduce -2.2% |
| CHWY Chewy Inc. Class A | 0.20% | 1,520,443 | $61.5M | Reduce -2.2% |
| ENTG Entegris Inc. | 0.20% | 655,966 | $60.7M | Reduce -2.2% |
| ADBE Adobe Inc. | 0.19% | 169,025 | $59.6M | Reduce -25.7% |
| BSY Bentley Systems Inc. Class B | 0.19% | 1,146,810 | $59.0M | Reduce -3.3% |
| ZTS Zoetis Inc. | 0.19% | 401,887 | $58.8M | Reduce -2.1% |
| MDGL Madrigal Pharmaceuticals Inc. | 0.19% | 127,800 | $58.6M | Reduce -2.2% |
| BLDR Builders Firstsource Inc. | 0.19% | 480,609 | $58.3M | Add +12.8% |
| GTLB Gitlab Inc. Class A | 0.19% | 1,291,755 | $58.2M | Add +6.3% |
| LSCC Lattice Semiconductor Corp. | 0.19% | 787,896 | $57.8M | Reduce -2.1% |
| TYL Tyler Technologies Inc. | 0.18% | 107,555 | $56.3M | Reduce -2.2% |
| EQT Eqt Corp. | 0.18% | 1,006,923 | $54.8M | Reduce -2.2% |
| HLI Houlihan Lokey Inc. | 0.18% | 265,815 | $54.6M | Reduce -2.2% |
| AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO | 0.18% | 175,945 | $54.5M | New |
| LECO Lincoln Electric Holdings | 0.17% | 228,870 | $54.0M | Reduce -2.0% |
| WTFC Wintrust Financial Corp. | 0.17% | 402,823 | $53.3M | Reduce -2.1% |
| RNAM Avidity Biosciences Inc. | 0.17% | 1,202,384 | $52.4M | Add +53.8% |
| HUBB Hubbell Inc. | 0.17% | 119,689 | $51.5M | Reduce -2.2% |
| DORM Dorman Products Inc. | 0.16% | 325,960 | $50.8M | Reduce -2.2% |
| IDYA Ideaya Biosciences Inc. | 0.16% | 1,837,967 | $50.0M | Add +19.9% |
| BLD Topbuild Corp. | 0.16% | 126,077 | $49.3M | Reduce -2.1% |
| FTDR Frontdoor Inc. | 0.16% | 728,069 | $49.0M | Reduce -2.2% |
| NTR Nutrien Ltd. | 0.16% | 832,817 | $48.9M | Reduce -2.8% |
| PCOR Procore Technologies Inc. | 0.16% | 663,523 | $48.4M | Reduce -2.4% |
| PEGA Pegasystems Inc. | 0.16% | 838,952 | $48.2M | Reduce -2.1% |
| FIX Comfort Systems USA Inc. | 0.16% | 58,132 | $48.0M | Add +925.4% |
| EFA iShares MSCI Eafe ETF | 0.15% | 508,927 | $47.5M | Add +7.4% |
| FTS Fortis Inc. | 0.15% | 936,765 | $47.5M | Add +27.6% |
Portfolio Sells Q2 2025 → Q3 2025
| TRI Thomson Reuters Corp. | Reduce -9.6% | 1.14% | −0.57 |
| MCO Moody's Corp. | Reduce -3.5% | 3.83% | −0.55 |
| CARR Carrier Global Corp. | Reduce -3.3% | 1.27% | −0.42 |
| MSFT Microsoft Corp. | Reduce -5.2% | 5.67% | −0.35 |
| FTNT Fortinet Inc. | Reduce -86.8% | 0.03% | −0.30 |
| OTIS Otis Worldwide Corp. | Reduce -3.6% | 1.52% | −0.27 |
| HDB HDFC Bank Ltd.-ADR | Reduce -3.4% | 1.02% | −0.22 |
| MA Mastercard Inc. Class A | Reduce -3.1% | 3.20% | −0.22 |
| CME Cme Group Inc. | Reduce -1.7% | 2.40% | −0.21 |
| CYBR Cyberark Software Ltd./Israel | Sold out | 0.00% | −0.18 |
| TW Tradeweb Markets Inc. Class A | Reduce -10.6% | 0.32% | −0.17 |
| VVV Valvoline Inc. | Sold out | 0.00% | −0.12 |
| GGG Graco Inc. | Reduce -3.1% | 1.19% | −0.11 |
| ANSS Ansys Inc. | Sold out | 0.00% | −0.11 |
| SHW The Sherwin-Williams Co. | Reduce -1.4% | 1.97% | −0.11 |
| SPSC SPS Commerce Inc. | Sold out | 0.00% | −0.11 |
| ADBE Adobe Inc. | Reduce -25.7% | 0.19% | −0.11 |
| MDB Mongodb Inc. | Reduce -56.3% | 0.14% | −0.09 |
| VEEV Veeva Systems Inc. Class A | Reduce -20.8% | 0.27% | −0.08 |
| TRP TC Energy Corp. | Reduce -77.5% | 0.02% | −0.08 |
| HEI.A Heico Corp. Class A | Reduce -12.0% | 0.34% | −0.07 |
| OPCH Option Care Health Inc. | Sold out | 0.00% | −0.07 |
| LLY Eli Lilly & Co. | Reduce -97.8% | 0.00% | −0.07 |
| MNDY Monday.com Ltd. | Reduce -2.7% | 0.09% | −0.06 |
| GDDY GoDaddy Inc. Class A | Reduce -18.0% | 0.09% | −0.06 |
| WING Wingstop Inc. | Reduce -2.3% | 0.14% | −0.06 |
| CNQ Canadian Natural Resources | Reduce -25.9% | 0.15% | −0.06 |
| DHR Danaher Corp. | Reduce -83.1% | 0.01% | −0.06 |
| GMED Globus Medical Inc. Class A | Sold out | 0.00% | −0.05 |
| SNPS Synopsys Inc. | Reduce -6.3% | 0.33% | −0.05 |
| AMZN Amazon.com Inc. | Reduce -5.9% | 0.43% | −0.05 |
| PEP Pepsico Inc. | Reduce -4.8% | 1.36% | −0.05 |
| CSW CSW Industrials Inc. | Sold out | 0.00% | −0.05 |
| ACN Accenture PLC Class A | Reduce -62.8% | 0.02% | −0.04 |
| BWIN Baldwin Insurance Group Inc./ | Reduce -2.5% | 0.07% | −0.04 |
| HLT Hilton Worldwide Holdings Inc. | Reduce -0.9% | 0.49% | −0.04 |
| MTD Mettler-Toledo International | Reduce -2.6% | 1.32% | −0.04 |
| TYL Tyler Technologies Inc. | Reduce -2.2% | 0.18% | −0.04 |
| TOST Toast Inc. Class A | Reduce -2.2% | 0.12% | −0.04 |
| KVYO Klaviyo Inc. Class A | Reduce -2.2% | 0.11% | −0.03 |
| INTC Intel Corp. | Sold out | 0.00% | −0.03 |
| SFM Sprouts Farmers Market Inc. | Reduce -2.1% | 0.05% | −0.03 |
| ONON On Holding AG Class A | Reduce -2.2% | 0.09% | −0.03 |
| POWI Power Integrations Inc. | Reduce -2.2% | 0.06% | −0.03 |
| SLF Sun Life Financial Inc. | Reduce -2.8% | 0.15% | −0.03 |
| LAUR Laureate Education Inc. | Reduce -54.2% | 0.04% | −0.03 |
| MTSI Macom Technology Solutions H | Reduce -2.5% | 0.11% | −0.03 |
| ZTS Zoetis Inc. | Reduce -2.1% | 0.19% | −0.03 |
| EQT Eqt Corp. | Reduce -2.2% | 0.18% | −0.03 |
| BSY Bentley Systems Inc. Class B | Reduce -3.3% | 0.19% | −0.03 |
Portfolio Buys Q2 2025 → Q3 2025
| AAPL Apple Inc. | Add +1057.3% | 0.31% | +0.29 |
| BMO Bank of Montreal | Add +2.6% | 1.67% | +0.22 |
| NOW ServiceNow Inc. | Add +837.0% | 0.23% | +0.20 |
| RY Royal Bank of Canada | Add +2.1% | 2.31% | +0.19 |
| AJG Arthur J Gallagher & Co. | New | 0.18% | +0.18 |
| FIX Comfort Systems USA Inc. | Add +925.4% | 0.16% | +0.14 |
| ISRG Intuitive Surgical Inc. | New | 0.13% | +0.13 |
| EWBC East West Bancorp Inc. | New | 0.13% | +0.13 |
| ARGX Argenx SE - ADR | Add +12.1% | 0.42% | +0.13 |
| INSM Insmed Inc. | Add +8.2% | 0.38% | +0.12 |
| CPRT Copart Inc. | Add +25.4% | 1.28% | +0.11 |
| CFR Cullen/Frost Bankers Inc. | New | 0.10% | +0.10 |
| RNAM Avidity Biosciences Inc. | Add +53.8% | 0.17% | +0.09 |
| PIPR Piper Sandler Cos | New | 0.09% | +0.09 |
| QSR Restaurant Brands Intern | Add +17.2% | 1.03% | +0.08 |
| META Meta Platforms Inc. Class A | Add +61.2% | 0.22% | +0.08 |
| FNV Franco-Nevada Corp. | Add +5.2% | 0.29% | +0.08 |
| QQQ Invesco QQQ Trust Series 1 | Add +1.4% | 1.47% | +0.07 |
| BSX Boston Scientific Corp. | New | 0.07% | +0.07 |
| IMO Imperial Oil Ltd. | Add +55.5% | 0.14% | +0.06 |
| LRCX Lam Research Corp. | Add +111.1% | 0.09% | +0.06 |
| ABBV Abbvie Inc. | Add +51.3% | 0.12% | +0.05 |
| IDYA Ideaya Biosciences Inc. | Add +19.9% | 0.16% | +0.05 |
| AXP American Express Co. | Add +69.8% | 0.13% | +0.05 |
| ALNY Alnylam Pharmaceuticals Inc. | Add +93.9% | 0.08% | +0.05 |
| C Citigroup Inc. | Add +53.0% | 0.11% | +0.05 |
| UBER Uber Technologies Inc. | Add +86.4% | 0.09% | +0.04 |
| MSI Motorola Solutions Inc. | Add +54.8% | 0.12% | +0.04 |
| DDOG Datadog Inc. Class A | Add +67.2% | 0.10% | +0.04 |
| SNOW Snowflake Inc. | Add +97.6% | 0.08% | +0.04 |
| FTS Fortis Inc. | Add +27.6% | 0.15% | +0.03 |
| VOO Vanguard S&P 500 ETF | Add +0.7% | 0.97% | +0.03 |
| CDNS Cadence Design SYS Inc. | Add +56.9% | 0.08% | +0.03 |
| TU Telus Corp. | Add +10.7% | 0.91% | +0.03 |
| KLAC KLA Corp. | Add +121.8% | 0.05% | +0.03 |
| USFR Wisdomtree Floating Rate Tre | Add +1004.0% | 0.03% | +0.03 |
| RBA RB Global Inc. | Add +4.9% | 1.42% | +0.03 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +8.2% | 0.28% | +0.03 |
| DASH DoorDash Inc. Class A | Add +85.4% | 0.05% | +0.02 |
| ADSK Autodesk Inc. | Add +109.8% | 0.05% | +0.02 |
| CSGP Costar Group Inc. | Add +54.6% | 0.06% | +0.02 |
| TXN Texas Instruments Inc. | Add +57.7% | 0.09% | +0.02 |
| RCL Royal Caribbean Cruises Ltd. | Add +75.2% | 0.05% | +0.02 |
| NVS Novartis AG-Sponsored ADR | Add +115.1% | 0.04% | +0.02 |
| BLDR Builders Firstsource Inc. | Add +12.8% | 0.19% | +0.02 |
| TTWO Take-Two Interactive Softwre | Add +88.5% | 0.04% | +0.02 |
| PBA Pembina Pipeline Corp. | Add +12.6% | 0.14% | +0.02 |
| PANW Palo Alto Networks Inc. | Add +87.8% | 0.04% | +0.02 |
| PSX Phillips 66 | New | 0.02% | +0.02 |
| FCX Freeport-McMoran Inc. | Add +99.6% | 0.04% | +0.02 |
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 |