FIL Ltd
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), FIL Ltd reported 1,011 stock positions worth $133.5 billion. Its top holding was Microsoft (MSFT) at 3.2% of the portfolio, followed by Royal Bank of Canada (RY, 3.0%) and Alphabet Class A (GOOGL, 2.5%). Compared with Q3 2025, it opened 112 new positions, sold out of 84, added to 467 and reduced 382. The biggest buy was a new position in Totalenergies (TTE) and the biggest sale Wheaton Precious Metals (WPM, shares −70%).
- Most Recent 13F
- Q2 2026
- Location
- HAMILTON, D0
- CIK
- 0000318989
- Portfolio Value
- $133.5B (Q4 2025)
- SEC Filing
- 0000318989-26-000032 ↗ filed Feb 17, 2026
Holdings Value
Holdings 1,011 stocks · $133.5B
| MSFT Microsoft Corp. | 3.21% | 8,850,129 | $4.3B | Add +3.2% |
| RY Royal Bank of Canada | 2.97% | 23,258,871 | $4.0B | Add +1.1% |
| GOOGL Alphabet Inc. Class A | 2.54% | 10,843,052 | $3.4B | Reduce -2.9% |
| SHOP Shopify Inc. Class A | 2.22% | 18,385,371 | $3.0B | Reduce -4.1% |
| TD Toronto-Dominion Bank | 2.19% | 30,980,425 | $2.9B | Reduce -14.4% |
| AMZN Amazon.com Inc. | 2.12% | 12,281,176 | $2.8B | Add +0.6% |
| AAPL Apple Inc. | 2.02% | 9,914,056 | $2.7B | Reduce -11.1% |
| AEM Agnico Eagle Mines Ltd. | 1.64% | 12,880,609 | $2.2B | Reduce -19.8% |
| NVDA Nvidia Corp. | 1.28% | 9,178,874 | $1.7B | Add +26.1% |
| TRP TC Energy Corp. | 1.17% | 28,305,789 | $1.6B | Add +3.9% |
| CNI Canadian Natl Railway Co. | 1.17% | 15,745,744 | $1.6B | Add +49.5% |
| META Meta Platforms Inc. Class A | 1.16% | 2,348,867 | $1.6B | Add +11.4% |
| TXN Texas Instruments Inc. | 1.10% | 8,455,600 | $1.5B | Add +10.9% |
| B Barrick Mining Corp. | 0.98% | 30,099,422 | $1.3B | Add +85.3% |
| FNV Franco-Nevada Corp. | 0.93% | 6,016,926 | $1.2B | Reduce -12.3% |
| CP Canadian Pacific Kansas City | 0.92% | 16,666,777 | $1.2B | Add +20.2% |
| BMO Bank of Montreal filed as BANK MONTREAL QUE | 0.92% | 9,445,162 | $1.2B | Add +15.2% |
| BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA HALIFAX | 0.91% | 16,489,540 | $1.2B | Add +49.5% |
| CRM Salesforce Inc. | 0.91% | 4,588,104 | $1.2B | Add +10.8% |
| BN Brookfield Corp. | 0.89% | 25,945,785 | $1.2B | Add +2.8% |
| RCI Rogers Communications Inc. Class B | 0.88% | 31,071,909 | $1.2B | Reduce -11.9% |
| CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BANK OF CO | 0.87% | 12,756,323 | $1.2B | Add +26.1% |
| PGR Progressive Corp. | 0.86% | 5,043,636 | $1.1B | Add +7.2% |
| ACN Accenture PLC Class A | 0.79% | 3,921,049 | $1.1B | Add +33.5% |
| FTS Fortis Inc. | 0.77% | 19,898,613 | $1.0B | Add +9.1% |
| CSCO Cisco Systems Inc. | 0.75% | 12,925,372 | $995.6M | Reduce -26.6% |
| CME Cme Group Inc. | 0.73% | 3,574,469 | $976.1M | Add +5.0% |
| JPM JPMorgan Chase & Co. | 0.72% | 2,995,394 | $965.2M | Add +1.0% |
| TTE Totalenergies SE | 0.71% | 14,435,729 | $943.1M | New |
| NFLX Netflix Inc. | 0.70% | 10,021,313 | $939.6M | Add +149.8% |
| ADBE Adobe Inc. | 0.70% | 2,678,236 | $937.4M | Add +6.3% |
| SU Suncor Energy Inc. | 0.70% | 21,050,387 | $934.3M | Add +14.1% |
| MA Mastercard Inc. Class A | 0.68% | 1,594,175 | $910.1M | Add +60.7% |
| BCE Bce Inc. | 0.67% | 37,579,448 | $896.4M | Add +5.6% |
| RBA RB Global Inc. | 0.67% | 8,642,386 | $889.7M | Reduce -13.1% |
| HDB HDFC Bank Ltd.-ADR | 0.64% | 23,312,525 | $851.8M | Reduce -4.7% |
| KGC Kinross Gold Corp. | 0.61% | 29,146,959 | $821.0M | Add +4.8% |
| BLK BlackRock Inc. | 0.60% | 743,024 | $795.3M | Reduce -15.3% |
| CCJ Cameco Corp. | 0.60% | 8,683,510 | $795.1M | Reduce -19.4% |
| WAB Wabtec Corp. | 0.58% | 3,656,578 | $780.5M | Reduce -8.6% |
| ORCL Oracle Corp. | 0.58% | 3,976,441 | $775.0M | Add +1605.7% |
| ENB Enbridge Inc. | 0.58% | 16,092,582 | $770.1M | Reduce -0.3% |
| MRVL Marvell Technology Inc. | 0.57% | 8,994,248 | $764.3M | Reduce -29.2% |
| INTU Intuit Inc. | 0.56% | 1,125,878 | $745.8M | Add +53.6% |
| PDD PDD Holdings Inc. | 0.55% | 6,516,042 | $738.9M | Reduce -9.7% |
| TDY Teledyne Technologies Inc. | 0.52% | 1,367,137 | $698.2M | Add +25.2% |
| YMM Full Truck Alliance -SPN ADR | 0.52% | 64,382,173 | $690.8M | Add +1.6% |
| LIN Linde PLC | 0.51% | 1,611,016 | $686.9M | Add +22.3% |
| EXPD Expeditors Intl Wash Inc. | 0.51% | 4,557,119 | $679.1M | Reduce -0.5% |
| MCHP Microchip Technology Inc. | 0.50% | 10,445,721 | $665.6M | Add +7.2% |
| HBM Hudbay Minerals Inc. | 0.49% | 33,143,172 | $658.0M | Add +202.0% |
| CVE Cenovus Energy Inc. | 0.49% | 38,533,059 | $651.9M | Add +40.0% |
| FER Ferrovial NV | 0.48% | 9,870,603 | $641.9M | Reduce -25.8% |
| EA Electronic Arts Inc. | 0.48% | 3,120,086 | $637.5M | Add +32.8% |
| EMA Emera Inc. | 0.47% | 12,839,047 | $632.7M | Reduce -2.5% |
| TFII Tfi International Inc. | 0.47% | 6,039,182 | $624.2M | Reduce -0.1% |
| IAG Iamgold Corp. | 0.45% | 36,367,149 | $600.1M | Add +124.0% |
| SNPS Synopsys Inc. | 0.45% | 1,266,409 | $594.9M | Add +0.2% |
| WDAY Workday Inc. Class A | 0.45% | 2,768,628 | $594.6M | Reduce -14.1% |
| PKG Packaging Corp. of America | 0.43% | 2,792,936 | $576.0M | Add +19.4% |
| PG The Procter & Gamble Co. | 0.43% | 3,984,922 | $571.1M | Add +1.0% |
| DLTR Dollar Tree Inc. | 0.42% | 4,579,161 | $563.3M | Reduce -22.5% |
| CTSH Cognizant Tech Solutions-A | 0.42% | 6,680,508 | $554.5M | Add +46.6% |
| IVV iShares Core S&P 500 ETF | 0.41% | 807,627 | $553.2M | Reduce -12.7% |
| BKR Baker Hughes Co. | 0.41% | 12,095,754 | $550.8M | Reduce -6.3% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.41% | 1,080,291 | $543.0M | Reduce -11.1% |
| WFG West Fraser Timber Co. Ltd. | 0.40% | 8,743,859 | $534.9M | Reduce -0.6% |
| PBA Pembina Pipeline Corp. | 0.40% | 13,978,558 | $532.5M | Add +2.6% |
| DHR Danaher Corp. | 0.39% | 2,256,915 | $516.7M | Reduce -8.4% |
| BAM Brookfield Asset Mgmt-A | 0.39% | 9,821,508 | $514.5M | Reduce -23.4% |
| NEE Nextera Energy Inc. | 0.38% | 6,372,596 | $511.6M | Add +5.4% |
| ADSK Autodesk Inc. | 0.36% | 1,635,908 | $484.2M | Add +7.9% |
| GIB Cgi Inc. | 0.36% | 5,200,016 | $480.3M | Add +109.0% |
| BSX Boston Scientific Corp. | 0.34% | 4,758,079 | $453.7M | Add +2.1% |
| TSM Taiwan Semiconductor-SP ADR | 0.33% | 1,459,825 | $443.6M | Add +5.0% |
| DAY Dayforce Inc. | 0.33% | 6,401,398 | $442.7M | Add +87.5% |
| NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD | 0.32% | 25,705,380 | $430.3M | Reduce -6.8% |
| GE General Electric filed as GE AEROSPACE | 0.31% | 1,342,948 | $413.7M | Reduce -1.3% |
| MGA Magna International Inc. | 0.31% | 7,755,088 | $413.4M | Add +140.9% |
| BGSI Boyd Group Services Inc. | 0.31% | 2,581,931 | $411.3M | New |
| REGN Regeneron Pharmaceuticals | 0.31% | 529,190 | $408.5M | Add +182.2% |
| TU Telus Corp. | 0.30% | 30,300,204 | $399.4M | Add +112.9% |
| OTEX Open Text Corp. | 0.30% | 12,155,000 | $395.9M | Add +5.7% |
| AVGO Broadcom Inc. | 0.29% | 1,133,925 | $392.5M | Add +9.7% |
| MS Morgan Stanley | 0.29% | 2,206,917 | $391.8M | Add +6.5% |
| HOLX Hologic Inc. | 0.29% | 5,227,433 | $389.4M | Add +10317.8% |
| PAAS Pan American Silver Corp. | 0.28% | 7,307,777 | $378.9M | Add +154.7% |
| BVN Cia DE Minas Buenaventur-ADR filed as COMPANIA DE MINAS BUENAVENTU | 0.28% | 13,473,909 | $375.0M | Add +8.8% |
| TECK Teck Resources Ltd.-CLS B | 0.28% | 7,743,160 | $370.7M | Reduce -26.8% |
| UNH Unitedhealth Group Inc. | 0.28% | 1,117,156 | $368.8M | Reduce -0.0% |
| V Visa Inc. Class A | 0.27% | 1,045,199 | $366.6M | Reduce -18.8% |
| ICE Intercontinental Exchange Inc. | 0.27% | 2,254,385 | $365.1M | Reduce -2.6% |
| IVW iShares S&P 500 Growth ETF | 0.27% | 2,950,099 | $363.6M | Reduce -24.3% |
| MICC The Magnum Ice Cream Co. NV | 0.27% | 22,644,771 | $360.8M | New |
| CNQ Canadian Natural Resources | 0.27% | 10,600,859 | $359.1M | Reduce -28.8% |
| WPM Wheaton Precious Metals Corp. | 0.26% | 3,004,731 | $353.2M | Reduce -69.8% |
| BMY Bristol-Myers Squibb Co. | 0.26% | 6,492,176 | $350.2M | Add +9.6% |
| CCEP Coca-Cola Europacific Partne | 0.26% | 3,793,166 | $344.3M | Add +0.3% |
| AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO | 0.25% | 1,308,089 | $338.5M | Reduce -4.3% |
| SE Sea Ltd.-ADR | 0.25% | 2,624,496 | $334.8M | Reduce -14.1% |
Options reported separately and not counted above: AG puts ($59.1M), EPAM calls ($6.6M).
Other holdings (5): bonds, preferreds, convertibles and warrants · $10.8M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| LI AUTO INC (LI 0.25 05/01/28) | NOTE 0.250% 5/0 · principal | 5,085,000 | $5.1M | No change |
| CABLE ONE INC (CABO 1.125 03/15/28) | NOTE 1.125% 3/1 · principal | 4,107,000 | $3.3M | No change |
| RIVIAN AUTO INC (RIVN 3.625 10/15/30) | NOTE 3.625%10/1 · principal | 2,000,000 | $2.2M | Reduce -36.3% |
| TETRA TECH INC (TTEK 2.25 08/15/28) | DBCV 2.250% 8/1 · principal | 44,000 | $48K | No change |
| SESCW Ivanhoe Capital Class A -CW27 | *W EXP 12/10/202 | 94,633 | $18K | No change |
Total filed on the 13F, all lines: $133.5B.
Portfolio Sells Q3 2025 → Q4 2025
| WPM Wheaton Precious Metals Corp. | Reduce -69.8% | 0.26% | −0.61 |
| AEM Agnico Eagle Mines Ltd. | Reduce -19.8% | 1.64% | −0.49 |
| INTC Intel Corp. | Reduce -90.7% | 0.05% | −0.46 |
| AMAT Applied Materials Inc. | Reduce -94.7% | 0.03% | −0.43 |
| DELL Dell Technologies -C | Reduce -98.5% | 0.00% | −0.37 |
| WCN Waste Connections Inc. | Reduce -75.3% | 0.11% | −0.36 |
| VRNA Verona Pharma Ltd. | Sold out | 0.00% | −0.29 |
| WNS WNS Holdings Ltd. | Sold out | 0.00% | −0.29 |
| MRVL Marvell Technology Inc. | Reduce -29.2% | 0.57% | −0.27 |
| FNV Franco-Nevada Corp. | Reduce -12.3% | 0.93% | −0.27 |
| AAPL Apple Inc. | Reduce -11.1% | 2.02% | −0.22 |
| BLK BlackRock Inc. | Reduce -15.3% | 0.60% | −0.21 |
| INFA Informatica Inc. Class A | Sold out | 0.00% | −0.20 |
| OMC Omnicom Group | Reduce -98.1% | 0.00% | −0.20 |
| CSCO Cisco Systems Inc. | Reduce -26.6% | 0.75% | −0.20 |
| PDD PDD Holdings Inc. | Reduce -9.7% | 0.55% | −0.20 |
| K Kellanova | Sold out | 0.00% | −0.19 |
| BAM Brookfield Asset Mgmt-A | Reduce -23.4% | 0.39% | −0.19 |
| RBA RB Global Inc. | Reduce -13.1% | 0.67% | −0.18 |
| SE Sea Ltd.-ADR | Reduce -14.1% | 0.25% | −0.18 |
| AU Anglogold Ashanti PLC | Reduce -64.6% | 0.12% | −0.17 |
| FSV Firstservice Corp. | Reduce -64.4% | 0.06% | −0.17 |
| WDAY Workday Inc. Class A | Reduce -14.1% | 0.45% | −0.16 |
| MPWR Monolithic Power Systems Inc. | Reduce -36.4% | 0.21% | −0.15 |
| SPNS Sapiens International Corp. | Sold out | 0.00% | −0.14 |
| MDB Mongodb Inc. | Reduce -59.9% | 0.15% | −0.14 |
| FER Ferrovial NV | Reduce -25.8% | 0.48% | −0.12 |
| CCJ Cameco Corp. | Reduce -19.4% | 0.60% | −0.12 |
| PAYX Paychex Inc. | Reduce -98.1% | 0.00% | −0.11 |
| EXC Exelon Corp. | Reduce -25.1% | 0.24% | −0.11 |
| CNQ Canadian Natural Resources | Reduce -28.8% | 0.27% | −0.11 |
| RACE Ferrari NV | Reduce -73.4% | 0.03% | −0.10 |
| IVW iShares S&P 500 Growth ETF | Reduce -24.3% | 0.27% | −0.10 |
| IBN Icici Bank Ltd.-Spon ADR | Reduce -30.8% | 0.17% | −0.09 |
| CAT Caterpillar Inc. | Reduce -48.3% | 0.13% | −0.09 |
| TD Toronto-Dominion Bank | Reduce -14.4% | 2.19% | −0.09 |
| TECK Teck Resources Ltd.-CLS B | Reduce -26.8% | 0.28% | −0.09 |
| BKR Baker Hughes Co. | Reduce -6.3% | 0.41% | −0.08 |
| AJG Arthur J Gallagher & Co. | Reduce -4.3% | 0.25% | −0.08 |
| RCI Rogers Communications Inc. Class B | Reduce -11.9% | 0.88% | −0.08 |
| NSC Norfolk Southern Corp. | Reduce -28.5% | 0.14% | −0.08 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -11.1% | 0.41% | −0.07 |
| IVV iShares Core S&P 500 ETF | Reduce -12.7% | 0.41% | −0.07 |
| V Visa Inc. Class A | Reduce -18.8% | 0.27% | −0.07 |
| JD Jd.com Inc.-ADR | Reduce -7.6% | 0.18% | −0.07 |
| WDC Western Digital Corp. | Reduce -91.0% | 0.01% | −0.07 |
| WFG West Fraser Timber Co. Ltd. | Reduce -0.6% | 0.40% | −0.07 |
| TIP iShares Tips Bond ETF | Reduce -60.1% | 0.04% | −0.07 |
| KSPI JSC Kaspi.kz ADR | Reduce -20.2% | 0.18% | −0.07 |
| PFE Pfizer Inc. | Reduce -22.1% | 0.17% | −0.07 |
Portfolio Buys Q3 2025 → Q4 2025
| TTE Totalenergies SE | New | 0.71% | +0.71 |
| B Barrick Mining Corp. | Add +85.3% | 0.98% | +0.56 |
| ORCL Oracle Corp. | Add +1605.7% | 0.58% | +0.53 |
| CNI Canadian Natl Railway Co. | Add +49.5% | 1.17% | +0.39 |
| HBM Hudbay Minerals Inc. | Add +202.0% | 0.49% | +0.36 |
| BNS Bank of Nova Scotia | Add +49.5% | 0.91% | +0.35 |
| NFLX Netflix Inc. | Add +149.8% | 0.70% | +0.33 |
| BGSI Boyd Group Services Inc. | New | 0.31% | +0.31 |
| RY Royal Bank of Canada | Add +1.1% | 2.97% | +0.30 |
| HOLX Hologic Inc. | Add +10317.8% | 0.29% | +0.29 |
| IAG Iamgold Corp. | Add +124.0% | 0.45% | +0.28 |
| MICC The Magnum Ice Cream Co. NV | New | 0.27% | +0.27 |
| EQX Equinox Gold Corp. | New | 0.25% | +0.25 |
| MA Mastercard Inc. Class A | Add +60.7% | 0.68% | +0.24 |
| CM Can Imperial BK of Commerce | Add +26.1% | 0.87% | +0.23 |
| REGN Regeneron Pharmaceuticals | Add +182.2% | 0.31% | +0.22 |
| ACN Accenture PLC Class A | Add +33.5% | 0.79% | +0.22 |
| NVDA Nvidia Corp. | Add +26.1% | 1.28% | +0.21 |
| CDTX Cidara Therapeutics Inc. | New | 0.21% | +0.21 |
| PAAS Pan American Silver Corp. | Add +154.7% | 0.28% | +0.20 |
| MGA Magna International Inc. | Add +140.9% | 0.31% | +0.19 |
| GIB Cgi Inc. | Add +109.0% | 0.36% | +0.19 |
| CTSH Cognizant Tech Solutions-A | Add +46.6% | 0.42% | +0.17 |
| INTU Intuit Inc. | Add +53.6% | 0.56% | +0.16 |
| IYH iShares U.S. Healthcare ETF | Add +514.1% | 0.19% | +0.16 |
| MSI Motorola Solutions Inc. | Add +4412.7% | 0.16% | +0.16 |
| ZTS Zoetis Inc. | Add +372.2% | 0.20% | +0.15 |
| DAY Dayforce Inc. | Add +87.5% | 0.33% | +0.15 |
| SEE Sealed Air Corp. | New | 0.14% | +0.14 |
| ERO Ero Copper Corp. | Add +74.1% | 0.25% | +0.14 |
| CRM Salesforce Inc. | Add +10.8% | 0.91% | +0.14 |
| TU Telus Corp. | Add +112.9% | 0.30% | +0.12 |
| CVE Cenovus Energy Inc. | Add +40.0% | 0.49% | +0.12 |
| EXAS Exact Sciences Corp. | Add +47719.1% | 0.11% | +0.11 |
| LLY Eli Lilly & Co. | Add +154.7% | 0.16% | +0.11 |
| EPAM Epam Systems Inc. | New | 0.11% | +0.11 |
| CP Canadian Pacific Kansas City | Add +20.2% | 0.92% | +0.11 |
| EA Electronic Arts Inc. | Add +32.8% | 0.48% | +0.10 |
| CMG Chipotle Mexican Grill Inc. | Add +126.5% | 0.19% | +0.10 |
| G Genpact Ltd. | Add +114.4% | 0.17% | +0.09 |
| VLTO Veralto Corp. | Add +263.8% | 0.13% | +0.09 |
| SU Suncor Energy Inc. | Add +14.1% | 0.70% | +0.09 |
| IQV Iqvia Holdings Inc. | Add +76.7% | 0.18% | +0.09 |
| HMY Harmony Gold MNG-Spon ADR | New | 0.08% | +0.08 |
| BMO Bank of Montreal | Add +15.2% | 0.92% | +0.08 |
| TMO Thermo Fisher Scientific Inc. | Add +33.2% | 0.23% | +0.08 |
| NTNX Nutanix Inc. Class A | Add +180.2% | 0.17% | +0.08 |
| KGC Kinross Gold Corp. | Add +4.8% | 0.61% | +0.07 |
| DOO BRP Inc./Ca- Sub Voting | Add +277.0% | 0.09% | +0.07 |
| HI Hillenbrand Inc. | New | 0.07% | +0.07 |
Options Activity Q3 2025 → Q4 2025
| AG First Majestic Silver Corp. | put | Reduce -45.9% | 3,550,000 | $59.1M |
| EPAM Epam Systems Inc. | call | New | 32,200 | $6.6M |
| TECK Teck Resources Ltd.-CLS B | call | Sold out | 123,000 | $5.4Mbefore exit |
| CRWV Coreweave Inc. Class A | put | Sold out | 9,300 | $1.3Mbefore exit |
| NVDA Nvidia Corp. | put | Sold out | 5,300 | $989Kbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q3 2025 → Q4 2025
| RIVIAN AUTO INC (RIVN 3.625 10/15/30) | NOTE 3.625%10/1 · principal | Reduce -36.3% | 2,000,000 | $2.2M |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 1,136 | $139.2B | RY, MSFT, GOOGL, TD, AMZN |
| Q1 2026 | 1,098 | $128.7B | MSFT, RY, GOOGL, AMZN, AAPL |
| Q4 2025 | 1,011 | $133.5B | MSFT, RY, GOOGL, SHOP, TD |
| Q3 2025 | 981 | $127.2B | MSFT, RY, TD, SHOP, AAPL |
| Q2 2025 | 955 | $116.9B | MSFT, TD, RY, AMZN, GOOGL |
| Q1 2025 | 898 | $105.2B | MSFT, TD, RY, AMZN, AEM |
| Q4 2024 | 906 | $107.0B | MSFT, RY, AMZN, GOOGL, TD |
| Q3 2024 | 928 | $110.3B | MSFT, RY, AMZN, TD, GOOGL |
| Q2 2024 | 889 | $101.1B | MSFT, RY, GOOGL, AMZN, AAPL |
| Q1 2024 | 842 | $100.8B | MSFT, CNI, AMZN, GOOGL, RY |