Fiera Capital Corp
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 11, 2026), Fiera Capital Corp reported 417 stock positions worth $31.5 billion. Its top holding was Alphabet Class A (GOOGL) at 6.1% of the portfolio, followed by Taiwan Semiconductor-SP ADR (TSM, 5.8%) and Microsoft (MSFT, 5.0%). Compared with Q3 2025, it opened 34 new positions, sold out of 53, added to 238 and reduced 108. The biggest buy was Rogers Communications Class B (RCI, shares +8881%) and the biggest sale Oracle (ORCL, shares −34%).
- Most Recent 13F
- Q2 2026
- Location
- MONTREAL, A8
- CIK
- 0001505817
- Portfolio Value
- $31.5B (Q4 2025)
- SEC Filing
- 0001505817-26-000004 ↗ filed Feb 11, 2026
Holdings Value
Holdings 417 stocks · $31.5B
| GOOGL Alphabet Inc. Class A | 6.05% | 6,099,373 | $1.9B | Reduce -14.5% |
| TSM Taiwan Semiconductor-SP ADR | 5.80% | 6,023,398 | $1.8B | Reduce -11.8% |
| MSFT Microsoft Corp. | 4.98% | 3,249,696 | $1.6B | Reduce -4.0% |
| MCO Moody's Corp. | 3.84% | 2,371,939 | $1.2B | Reduce -4.5% |
| MA Mastercard Inc. Class A | 3.06% | 1,690,498 | $965.1M | Reduce -2.8% |
| AZO AutoZone Inc. | 2.91% | 270,643 | $917.9M | Reduce -6.3% |
| RY Royal Bank of Canada | 2.45% | 4,539,315 | $774.1M | Reduce -6.5% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 2.40% | 4,923,471 | $756.3M | Reduce -6.1% |
| CME Cme Group Inc. | 2.28% | 2,635,814 | $719.8M | Reduce -4.0% |
| CNI Canadian Natl Railway Co. | 2.09% | 6,648,582 | $657.8M | Add +2.7% |
| SHW The Sherwin-Williams Co. | 1.82% | 1,770,803 | $573.8M | Add +0.4% |
| MSCI MSCI Inc. | 1.75% | 962,626 | $552.3M | Reduce -3.1% |
| BMO Bank of Montreal filed as BANK MONTREAL QUE | 1.64% | 3,981,598 | $517.3M | Add +0.4% |
| JNJ Johnson & Johnson | 1.61% | 2,458,245 | $508.7M | Reduce -7.1% |
| ORCL Oracle Corp. | 1.59% | 2,566,745 | $500.3M | Reduce -33.9% |
| GIB Cgi Inc. | 1.58% | 5,394,446 | $498.4M | Add +2.3% |
| WCN Waste Connections Inc. | 1.54% | 2,764,876 | $485.1M | Add +2.6% |
| QQQ Invesco QQQ Trust Series 1 | 1.49% | 765,258 | $470.1M | Add +0.9% |
| QSR Restaurant Brands Intern | 1.48% | 6,835,522 | $466.6M | Add +38.2% |
| CP Canadian Pacific Kansas City | 1.45% | 6,213,733 | $457.6M | Add +6.0% |
| OTIS Otis Worldwide Corp. | 1.39% | 5,020,052 | $438.5M | Reduce -2.4% |
| MTD Mettler-Toledo International | 1.37% | 310,000 | $432.2M | Reduce -7.2% |
| RBA RB Global Inc. | 1.36% | 4,157,985 | $428.2M | Add +2.2% |
| PEP Pepsico Inc. | 1.25% | 2,741,056 | $393.4M | Reduce -8.8% |
| CARR Carrier Global Corp. | 1.16% | 6,923,485 | $365.8M | Add +5.3% |
| CPRT Copart Inc. | 1.10% | 8,829,434 | $345.7M | Add +0.6% |
| GGG Graco Inc. | 1.07% | 4,115,821 | $337.4M | Reduce -5.4% |
| SPGI S&P Global Inc. | 1.07% | 644,019 | $336.6M | Reduce -13.6% |
| HDB HDFC Bank Ltd.-ADR | 0.99% | 8,514,965 | $311.1M | Reduce -7.7% |
| VOO Vanguard S&P 500 ETF | 0.96% | 481,937 | $302.2M | Reduce -1.9% |
| UNH Unitedhealth Group Inc. | 0.94% | 899,791 | $297.0M | Add +9.3% |
| RCI Rogers Communications Inc. Class B | 0.86% | 7,196,876 | $271.8M | Add +8881.3% |
| AMZN Amazon.com Inc. | 0.85% | 1,155,543 | $266.7M | Add +89.3% |
| TRI Thomson Reuters Corp. | 0.75% | 1,797,209 | $237.2M | Reduce -21.1% |
| TU Telus Corp. | 0.73% | 17,365,666 | $229.0M | Reduce -2.8% |
| ARGX Argenx SE - ADR | 0.60% | 225,971 | $190.0M | Add +27.2% |
| AON Aon PLC Class A | 0.60% | 533,582 | $188.3M | Reduce -2.9% |
| STN Stantec Inc. | 0.59% | 1,980,900 | $187.0M | Reduce -19.8% |
| LIN Linde PLC | 0.57% | 419,119 | $178.7M | Add +17.1% |
| V Visa Inc. Class A | 0.56% | 501,682 | $175.9M | Reduce -11.9% |
| INSM Insmed Inc. | 0.55% | 992,892 | $172.8M | Add +22.7% |
| ADI Analog Devices Inc. | 0.52% | 605,284 | $164.2M | Reduce -4.1% |
| HLT Hilton Worldwide Holdings Inc. | 0.52% | 567,953 | $163.1M | Reduce -2.5% |
| ALC Alcon Inc. filed as ALCON AG | 0.51% | 2,028,121 | $159.8M | Reduce -3.8% |
| LOW Lowe's Cos Inc. | 0.51% | 661,526 | $159.5M | Reduce -3.4% |
| AAPL Apple Inc. | 0.47% | 546,699 | $148.6M | Add +45.5% |
| FROG Jfrog Ltd. | 0.45% | 2,253,450 | $140.8M | Add +37.5% |
| APH Amphenol Corp. Class A | 0.40% | 932,758 | $126.1M | Reduce -8.3% |
| BWXT BWX Technologies Inc. | 0.40% | 723,156 | $125.0M | Add +32.8% |
| DSGX The Descartes Systems Grp | 0.38% | 1,371,213 | $120.3M | Reduce -53.9% |
| CW Curtiss-Wright Corp. | 0.35% | 202,894 | $111.8M | Add +32.9% |
| EXPE Expedia Group Inc. | 0.35% | 385,752 | $109.3M | Add +33.4% |
| ANET Arista Networks Inc. | 0.34% | 811,240 | $106.3M | Add +14.6% |
| SF Stifel Financial Corp. | 0.32% | 804,609 | $100.8M | Add +33.1% |
| MDGL Madrigal Pharmaceuticals Inc. | 0.31% | 169,456 | $98.7M | Add +32.6% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.31% | 142,840 | $97.4M | Add +10.5% |
| SNPS Synopsys Inc. | 0.29% | 196,627 | $92.4M | Reduce -3.9% |
| HEI.A Heico Corp. Class A | 0.29% | 359,439 | $90.7M | Reduce -13.0% |
| NBIX Neurocrine Biosciences Inc. | 0.29% | 637,408 | $90.4M | Add +32.9% |
| MSI Motorola Solutions Inc. | 0.29% | 234,632 | $89.9M | Add +200.5% |
| META Meta Platforms Inc. Class A | 0.28% | 135,710 | $89.6M | Add +46.1% |
| DG Dollar General Corp. | 0.27% | 647,681 | $86.0M | New |
| IDYA Ideaya Biosciences Inc. | 0.27% | 2,437,262 | $84.3M | Add +32.6% |
| CL Colgate-Palmolive Co. | 0.26% | 1,029,722 | $81.4M | Add +1.2% |
| NOW ServiceNow Inc. | 0.25% | 524,760 | $80.4M | Add +37.2% |
| HUBS HubSpot Inc. | 0.25% | 199,014 | $79.9M | Add +7683.1% |
| ROL Rollins Inc. | 0.25% | 1,319,906 | $79.2M | Reduce -13.7% |
| EME Emcor Group Inc. | 0.25% | 129,354 | $79.1M | Add +33.8% |
| WPM Wheaton Precious Metals Corp. | 0.25% | 671,660 | $79.0M | Add +91.1% |
| FDS Factset Research Systems Inc. | 0.25% | 271,525 | $78.8M | Reduce -3.1% |
| NKE Nike Inc. Class B | 0.24% | 1,212,497 | $77.2M | Add +5.6% |
| LSCC Lattice Semiconductor Corp. | 0.24% | 1,044,326 | $76.8M | Add +32.5% |
| MDB Mongodb Inc. | 0.24% | 183,035 | $76.8M | Add +33.6% |
| TW Tradeweb Markets Inc. Class A | 0.24% | 712,369 | $76.6M | Reduce -19.4% |
| KVYO Klaviyo Inc. Class A | 0.24% | 2,331,650 | $75.7M | Add +87.7% |
| WTFC Wintrust Financial Corp. | 0.24% | 534,954 | $74.8M | Add +32.8% |
| FNV Franco-Nevada Corp. | 0.24% | 359,750 | $74.6M | Reduce -9.5% |
| ENTG Entegris Inc. | 0.23% | 869,080 | $73.2M | Add +32.5% |
| LECO Lincoln Electric Holdings | 0.23% | 304,083 | $72.9M | Add +32.9% |
| EQT Eqt Corp. | 0.23% | 1,345,067 | $72.1M | Add +33.6% |
| FIX Comfort Systems USA Inc. | 0.23% | 77,117 | $72.0M | Add +32.7% |
| TMO Thermo Fisher Scientific Inc. | 0.23% | 123,653 | $71.7M | Reduce -18.3% |
| HUBB Hubbell Inc. | 0.23% | 159,850 | $71.0M | Add +33.5% |
| ISRG Intuitive Surgical Inc. | 0.22% | 125,048 | $70.8M | Add +34.3% |
| BLD Topbuild Corp. | 0.22% | 167,378 | $69.8M | Add +32.8% |
| MLI Mueller Industries Inc. | 0.22% | 596,968 | $68.5M | Add +33.0% |
| BLDR Builders Firstsource Inc. | 0.21% | 653,839 | $67.3M | Add +36.0% |
| CHWY Chewy Inc. Class A | 0.21% | 2,020,384 | $66.8M | Add +32.9% |
| PEGA Pegasystems Inc. | 0.21% | 1,113,171 | $66.5M | Add +32.7% |
| IDXX Idexx Laboratories Inc. | 0.21% | 97,760 | $66.1M | Reduce -25.1% |
| COST Costco Wholesale Corp. | 0.21% | 75,571 | $65.2M | Reduce -13.6% |
| TYL Tyler Technologies Inc. | 0.21% | 143,380 | $65.1M | Add +33.3% |
| MTSI Macom Technology Solutions H | 0.21% | 378,203 | $64.8M | Add +33.2% |
| PCOR Procore Technologies Inc. | 0.20% | 872,086 | $63.4M | Add +31.4% |
| GTLB Gitlab Inc. Class A | 0.20% | 1,670,811 | $62.7M | Add +29.3% |
| AIT Applied Industrial Tech Inc. | 0.20% | 239,668 | $61.5M | Add +32.6% |
| HLI Houlihan Lokey Inc. | 0.19% | 352,579 | $61.4M | Add +32.6% |
| AXP American Express Co. | 0.19% | 165,438 | $61.2M | Add +40.7% |
| SU Suncor Energy Inc. | 0.19% | 1,373,156 | $61.0M | Reduce -11.8% |
| NDSN Nordson Corp. | 0.19% | 247,898 | $59.6M | Add +33.5% |
Portfolio Sells Q3 2025 → Q4 2025
| ORCL Oracle Corp. | Reduce -33.9% | 1.59% | −1.95 |
| AZO AutoZone Inc. | Reduce -6.3% | 2.91% | −1.09 |
| MSFT Microsoft Corp. | Reduce -4.0% | 4.98% | −0.68 |
| DSGX The Descartes Systems Grp | Reduce -53.9% | 0.38% | −0.52 |
| TRI Thomson Reuters Corp. | Reduce -21.1% | 0.75% | −0.39 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -11.8% | 5.80% | −0.36 |
| STN Stantec Inc. | Reduce -19.8% | 0.59% | −0.27 |
| ADBE Adobe Inc. | Sold out | 0.00% | −0.19 |
| TU Telus Corp. | Reduce -2.8% | 0.73% | −0.18 |
| TD Toronto-Dominion Bank | Reduce -84.5% | 0.04% | −0.17 |
| RNAM Avidity Biosciences Inc. | Sold out | 0.00% | −0.17 |
| MA Mastercard Inc. Class A | Reduce -2.8% | 3.06% | −0.14 |
| OTIS Otis Worldwide Corp. | Reduce -2.4% | 1.39% | −0.13 |
| GGG Graco Inc. | Reduce -5.4% | 1.07% | −0.12 |
| PEP Pepsico Inc. | Reduce -8.8% | 1.25% | −0.12 |
| CME Cme Group Inc. | Reduce -4.0% | 2.28% | −0.11 |
| SPGI S&P Global Inc. | Reduce -13.6% | 1.07% | −0.11 |
| GDDY GoDaddy Inc. Class A | Sold out | 0.00% | −0.09 |
| VEEV Veeva Systems Inc. Class A | Reduce -9.6% | 0.18% | −0.09 |
| ESTC Elastic NV | Sold out | 0.00% | −0.08 |
| VRSK Verisk Analytics Inc. | Sold out | 0.00% | −0.08 |
| TW Tradeweb Markets Inc. Class A | Reduce -19.4% | 0.24% | −0.07 |
| BSY Bentley Systems Inc. Class B | Reduce -15.5% | 0.12% | −0.07 |
| MSCI MSCI Inc. | Reduce -3.1% | 1.75% | −0.07 |
| V Visa Inc. Class A | Reduce -11.9% | 0.56% | −0.07 |
| CFLT Confluent Inc. Class A | Sold out | 0.00% | −0.06 |
| IDXX Idexx Laboratories Inc. | Reduce -25.1% | 0.21% | −0.06 |
| POWI Power Integrations Inc. | Sold out | 0.00% | −0.06 |
| COST Costco Wholesale Corp. | Reduce -13.6% | 0.21% | −0.05 |
| TJX TJX Companies Inc. | Reduce -6.1% | 2.40% | −0.05 |
| HEI.A Heico Corp. Class A | Reduce -13.0% | 0.29% | −0.05 |
| SMMT Summit Therapeutics Inc. | Sold out | 0.00% | −0.05 |
| SFM Sprouts Farmers Market Inc. | Sold out | 0.00% | −0.05 |
| LOW Lowe's Cos Inc. | Reduce -3.4% | 0.51% | −0.05 |
| FNV Franco-Nevada Corp. | Reduce -9.5% | 0.24% | −0.05 |
| GWRE Guidewire Software Inc. | Reduce -9.3% | 0.16% | −0.05 |
| FSV Firstservice Corp. | Reduce -14.3% | 0.10% | −0.05 |
| AJG Arthur J Gallagher & Co. | Reduce -8.7% | 0.13% | −0.04 |
| LAUR Laureate Education Inc. | Sold out | 0.00% | −0.04 |
| PCVX Vaxcyte Inc. | Sold out | 0.00% | −0.04 |
| ZTS Zoetis Inc. | Reduce -6.5% | 0.15% | −0.04 |
| ROL Rollins Inc. | Reduce -13.7% | 0.25% | −0.04 |
| AON Aon PLC Class A | Reduce -2.9% | 0.60% | −0.04 |
| DAL Delta Air Lines Inc. | Sold out | 0.00% | −0.04 |
| USFR Wisdomtree Floating Rate Tre | Sold out | 0.00% | −0.03 |
| FTNT Fortinet Inc. | Sold out | 0.00% | −0.03 |
| SNPS Synopsys Inc. | Reduce -3.9% | 0.29% | −0.03 |
| HDB HDFC Bank Ltd.-ADR | Reduce -7.7% | 0.99% | −0.03 |
| NTR Nutrien Ltd. | Reduce -21.4% | 0.13% | −0.03 |
| HON Honeywell International Inc. | Reduce -91.6% | 0.00% | −0.03 |
Portfolio Buys Q3 2025 → Q4 2025
| RCI Rogers Communications Inc. Class B | Add +8881.3% | 0.86% | +0.85 |
| QSR Restaurant Brands Intern | Add +38.2% | 1.48% | +0.45 |
| AMZN Amazon.com Inc. | Add +89.3% | 0.85% | +0.41 |
| DG Dollar General Corp. | New | 0.27% | +0.27 |
| HUBS HubSpot Inc. | Add +7683.1% | 0.25% | +0.25 |
| FROG Jfrog Ltd. | Add +37.5% | 0.45% | +0.20 |
| ARGX Argenx SE - ADR | Add +27.2% | 0.60% | +0.18 |
| INSM Insmed Inc. | Add +22.7% | 0.55% | +0.17 |
| MSI Motorola Solutions Inc. | Add +200.5% | 0.29% | +0.17 |
| AAPL Apple Inc. | Add +45.5% | 0.47% | +0.16 |
| EXPE Expedia Group Inc. | Add +33.4% | 0.35% | +0.15 |
| LLY Eli Lilly & Co. | Add +7327.3% | 0.14% | +0.14 |
| KVYO Klaviyo Inc. Class A | Add +87.7% | 0.24% | +0.13 |
| MDGL Madrigal Pharmaceuticals Inc. | Add +32.6% | 0.31% | +0.12 |
| WPM Wheaton Precious Metals Corp. | Add +91.1% | 0.25% | +0.12 |
| CNI Canadian Natl Railway Co. | Add +2.7% | 2.09% | +0.11 |
| MDB Mongodb Inc. | Add +33.6% | 0.24% | +0.11 |
| TVTX Travere Therapeutics Inc. | New | 0.11% | +0.11 |
| IDYA Ideaya Biosciences Inc. | Add +32.6% | 0.27% | +0.11 |
| RBRK Rubrik Inc. Class A | Add +135.1% | 0.19% | +0.10 |
| SF Stifel Financial Corp. | Add +33.1% | 0.32% | +0.10 |
| ORLY O'reilly Automotive Inc. | Add +7045.5% | 0.10% | +0.10 |
| CAE Cae Inc. | Add +5035.7% | 0.09% | +0.09 |
| MTSI Macom Technology Solutions H | Add +33.2% | 0.21% | +0.09 |
| ISRG Intuitive Surgical Inc. | Add +34.3% | 0.22% | +0.09 |
| CW Curtiss-Wright Corp. | Add +32.9% | 0.35% | +0.09 |
| LRCX Lam Research Corp. | Add +53.0% | 0.17% | +0.08 |
| PH Parker Hannifin Corp. | New | 0.08% | +0.08 |
| LGND Ligand Pharmaceuticals | New | 0.08% | +0.08 |
| SMTC Semtech Corp. | New | 0.08% | +0.08 |
| A Agilent Technologies Inc. | New | 0.08% | +0.08 |
| C Citigroup Inc. | Add +51.6% | 0.18% | +0.08 |
| FIX Comfort Systems USA Inc. | Add +32.7% | 0.23% | +0.07 |
| FCX Freeport-McMoran Inc. | Add +131.0% | 0.11% | +0.07 |
| BWXT BWX Technologies Inc. | Add +32.8% | 0.40% | +0.07 |
| MLI Mueller Industries Inc. | Add +33.0% | 0.22% | +0.07 |
| NBIX Neurocrine Biosciences Inc. | Add +32.9% | 0.29% | +0.07 |
| AXP American Express Co. | Add +40.7% | 0.19% | +0.07 |
| EPAM Epam Systems Inc. | Add +30.9% | 0.16% | +0.07 |
| WTFC Wintrust Financial Corp. | Add +32.8% | 0.24% | +0.06 |
| META Meta Platforms Inc. Class A | Add +46.1% | 0.28% | +0.06 |
| GIB Cgi Inc. | Add +2.3% | 1.58% | +0.06 |
| BLD Topbuild Corp. | Add +32.8% | 0.22% | +0.06 |
| HUBB Hubbell Inc. | Add +33.5% | 0.23% | +0.06 |
| ABBV Abbvie Inc. | Add +52.4% | 0.18% | +0.06 |
| QURE Uniqure NV | New | 0.06% | +0.06 |
| LSCC Lattice Semiconductor Corp. | Add +32.5% | 0.24% | +0.06 |
| LECO Lincoln Electric Holdings | Add +32.9% | 0.23% | +0.06 |
| IWO iShares Russell 2000 Growth | Add +710.6% | 0.06% | +0.06 |
| PEGA Pegasystems Inc. | Add +32.7% | 0.21% | +0.05 |
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 |