Leith Wheeler Investment Counsel Ltd.
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Leith Wheeler Investment Counsel Ltd. reported 72 stock positions worth $1.5 billion. Its top holding was iShares Core S&P 500 ETF (IVV) at 32.7% of the portfolio, followed by Unitedhealth (UNH, 3.7%) and Medtronic (MDT, 3.4%). Compared with Q2 2025, it opened 11 new positions, sold out of 4, added to 17 and reduced 39. The biggest buy was Unitedhealth (UNH, shares +235%) and the biggest sale an exit from Wells Fargo (WFC).
- Most Recent 13F
- Q2 2026
- Location
- VANCOUVER, A1
- CIK
- 0001353651
- Portfolio Value
- $1.5B (Q3 2025)
- SEC Filing
- 0001193125-25-282478 ↗ filed Nov 14, 2025
Holdings Value
Holdings 72 stocks · $1.5B
| IVV iShares Core S&P 500 ETF | 32.70% | 721,865 | $483.1M | Reduce -4.9% |
| UNH Unitedhealth Group Inc. | 3.70% | 158,308 | $54.7M | Add +234.8% |
| MDT Medtronic PLC | 3.38% | 523,612 | $49.9M | Add +48.2% |
| LHX L3HARRIS Technologies Inc. | 3.33% | 161,321 | $49.3M | Reduce -9.6% |
| GOOGL Alphabet Inc. Class A | 3.11% | 188,781 | $45.9M | Reduce -22.2% |
| QCOM Qualcomm Inc. | 2.55% | 226,781 | $37.7M | Add +60.8% |
| QQQM Invesco Nasdaq 100 ETF | 2.42% | 144,511 | $35.7M | Reduce -11.4% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 2.23% | 287,949 | $33.0M | Reduce -12.2% |
| EA Electronic Arts Inc. | 2.21% | 162,260 | $32.7M | Reduce -12.8% |
| HSIC Henry Schein Inc. | 2.20% | 490,729 | $32.6M | Reduce -8.3% |
| CRM Salesforce Inc. | 2.19% | 136,682 | $32.4M | Reduce -4.4% |
| ADSK Autodesk Inc. | 2.05% | 95,583 | $30.4M | Reduce -13.0% |
| GOOG Alphabet Inc. Class C | 1.89% | 114,483 | $27.9M | Add +4126.0% |
| BDX Becton Dickinson and Co. | 1.87% | 147,888 | $27.7M | Reduce -11.3% |
| BWA Borgwarner Inc. | 1.84% | 618,295 | $27.2M | Reduce -40.5% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.73% | 50,791 | $25.5M | Add +3637.4% |
| V Visa Inc. Class A | 1.70% | 73,593 | $25.1M | Reduce -11.1% |
| JPM JPMorgan Chase & Co. | 1.46% | 68,307 | $21.5M | Reduce -3.4% |
| NKE Nike Inc. Class B | 1.43% | 303,611 | $21.2M | Add +27.4% |
| KD Kyndryl Holdings Inc. | 1.28% | 629,811 | $18.9M | New |
| COR Cencora Inc. | 1.18% | 55,744 | $17.4M | Reduce -23.2% |
| SEIC Sei Investments Company | 1.17% | 203,305 | $17.3M | Add +1.4% |
| ORCL Oracle Corp. | 1.10% | 57,693 | $16.2M | New |
| IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA | 1.08% | 259,129 | $15.9M | Reduce -8.9% |
| CPAY Corpay Inc. | 1.04% | 53,480 | $15.4M | Add +6.6% |
| KEYS Keysight Technologies Inc. | 0.94% | 79,808 | $14.0M | Reduce -5.8% |
| PM Philip Morris International | 0.89% | 81,215 | $13.2M | Add +5163.4% |
| GPN Global Payments Inc. | 0.88% | 156,762 | $13.0M | Reduce -58.4% |
| MDLZ Mondelez International Inc. Class A | 0.83% | 196,851 | $12.3M | Reduce -24.9% |
| BIP Brookfield Infrastructure Pa | 0.80% | 360,050 | $11.8M | Reduce -5.8% |
| ORI Old Republic Intl Corp. | 0.77% | 266,201 | $11.3M | Reduce -5.8% |
| HUM Humana Inc. | 0.73% | 41,485 | $10.8M | Reduce -2.3% |
| EFAX State Street SPDR MSCI Eafe | 0.72% | 215,627 | $10.6M | No change |
| THC Tenet Healthcare Corp. | 0.70% | 51,069 | $10.4M | Reduce -46.2% |
| GMED Globus Medical Inc. Class A | 0.70% | 179,390 | $10.3M | Reduce -5.8% |
| ALL Allstate Corp. | 0.68% | 46,949 | $10.1M | New |
| META Meta Platforms Inc. Class A | 0.67% | 13,556 | $10.0M | Reduce -11.4% |
| CCK Crown Holdings Inc. | 0.65% | 99,813 | $9.6M | Reduce -5.8% |
| CNM Core & Main Inc. Class A | 0.64% | 174,991 | $9.4M | Add +1.7% |
| VOO Vanguard S&P 500 ETF | 0.61% | 14,637 | $9.0M | No change |
| LAMR Lamar Advertising Co. Class A | 0.60% | 72,831 | $8.9M | Reduce -5.8% |
| MIDD Middleby Corp. | 0.60% | 66,994 | $8.9M | Reduce -5.8% |
| HAYW Hayward Holdings Inc. | 0.60% | 586,207 | $8.9M | Reduce -5.7% |
| CSL Carlisle Cos Inc. | 0.58% | 26,023 | $8.6M | Reduce -5.8% |
| MKSI MKS Inc. | 0.56% | 67,164 | $8.3M | Reduce -5.8% |
| SNA Snap-on Inc. | 0.56% | 23,891 | $8.3M | Add +2.4% |
| FA First Advantage Corp. | 0.55% | 524,305 | $8.1M | Reduce -5.8% |
| GL Globe Life Inc. | 0.54% | 56,236 | $8.0M | Reduce -5.8% |
| GNTX Gentex Corp. | 0.54% | 283,599 | $8.0M | Reduce -5.8% |
| UHS Universal Health Services-B | 0.48% | 34,795 | $7.1M | Reduce -35.2% |
| HLMN Hillman Solutions Corp. | 0.42% | 680,234 | $6.2M | Add +3.6% |
| BAH Booz Allen Hamilton Holdings | 0.40% | 58,997 | $5.9M | Reduce -5.8% |
| LPX Louisiana-Pacific Corp. | 0.26% | 42,549 | $3.8M | New |
| SNX TD Synnex Corp. | 0.22% | 19,917 | $3.3M | Reduce -21.7% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.16% | 3,585 | $2.4M | Add +1.0% |
| EFOR Everforth Inc. filed as ASGN INC | 0.15% | 45,520 | $2.2M | Reduce -54.9% |
| CEFA Global X S&P Cath Val Devel | 0.14% | 58,300 | $2.1M | Add +11.1% |
| EFA iShares MSCI Eafe ETF | 0.11% | 17,106 | $1.6M | Reduce -7.5% |
| SNN Smith & Nephew PLC -Spon ADR | 0.08% | 30,686 | $1.1M | New |
| KMX Carmax Inc. | 0.07% | 23,849 | $1.1M | Reduce -77.3% |
| MSFT Microsoft Corp. | 0.06% | 1,578 | $817K | Add +16.1% |
| AAPL Apple Inc. | 0.05% | 2,908 | $740K | Add +17.4% |
| AMZN Amazon.com Inc. | 0.04% | 2,427 | $533K | Add +32.8% |
| MA Mastercard Inc. Class A | 0.03% | 728 | $414K | New |
| OEF iShares S&P 100 ETF | 0.03% | 1,200 | $399K | No change |
| VT Vanguard Tot World STK ETF | 0.02% | 2,626 | $362K | No change |
| BSX Boston Scientific Corp. | 0.02% | 2,500 | $244K | New |
| SAP Sap SE-Sponsored ADR | 0.02% | 900 | $240K | New |
| VGK Vanguard Ftse Europe ETF | 0.01% | 2,750 | $219K | No change |
| VPL Vanguard Ftse Pacific ETF | 0.01% | 2,400 | $211K | New |
| SHOP Shopify Inc. Class A | 0.01% | 1,410 | $210K | New |
| PEP Pepsico Inc. | 0.01% | 1,475 | $207K | New |
Portfolio Sells Q2 2025 → Q3 2025
| WFC Wells Fargo & Co. | Sold out | 0.00% | −2.56 |
| EXPE Expedia Group Inc. | Sold out | 0.00% | −1.30 |
| GPN Global Payments Inc. | Reduce -58.4% | 0.88% | −1.26 |
| IVV iShares Core S&P 500 ETF | Reduce -4.9% | 32.70% | −0.83 |
| DIS The Walt Disney Co. | Reduce -12.2% | 2.23% | −0.66 |
| BWA Borgwarner Inc. | Reduce -40.5% | 1.84% | −0.63 |
| CRM Salesforce Inc. | Reduce -4.4% | 2.19% | −0.58 |
| HSIC Henry Schein Inc. | Reduce -8.3% | 2.20% | −0.58 |
| THC Tenet Healthcare Corp. | Reduce -46.2% | 0.70% | −0.49 |
| KMX Carmax Inc. | Reduce -77.3% | 0.07% | −0.43 |
| MDLZ Mondelez International Inc. Class A | Reduce -24.9% | 0.83% | −0.43 |
| IFF Intl Flavors & Fragrances | Reduce -8.9% | 1.08% | −0.41 |
| V Visa Inc. Class A | Reduce -11.1% | 1.70% | −0.39 |
| COR Cencora Inc. | Reduce -23.2% | 1.18% | −0.37 |
| ADSK Autodesk Inc. | Reduce -13.0% | 2.05% | −0.36 |
| QQQM Invesco Nasdaq 100 ETF | Reduce -11.4% | 2.42% | −0.22 |
| EFOR Everforth Inc. | Reduce -54.9% | 0.15% | −0.21 |
| UHS Universal Health Services-B | Reduce -35.2% | 0.48% | −0.21 |
| BDX Becton Dickinson and Co. | Reduce -11.3% | 1.87% | −0.17 |
| CSL Carlisle Cos Inc. | Reduce -5.8% | 0.58% | −0.15 |
| META Meta Platforms Inc. Class A | Reduce -11.4% | 0.67% | −0.13 |
| MIDD Middleby Corp. | Reduce -5.8% | 0.60% | −0.13 |
| CCK Crown Holdings Inc. | Reduce -5.8% | 0.65% | −0.12 |
| FA First Advantage Corp. | Reduce -5.8% | 0.55% | −0.11 |
| BIP Brookfield Infrastructure Pa | Reduce -5.8% | 0.80% | −0.11 |
| GMED Globus Medical Inc. Class A | Reduce -5.8% | 0.70% | −0.10 |
| BAH Booz Allen Hamilton Holdings | Reduce -5.8% | 0.40% | −0.06 |
| LAMR Lamar Advertising Co. Class A | Reduce -5.8% | 0.60% | −0.06 |
| KEYS Keysight Technologies Inc. | Reduce -5.8% | 0.94% | −0.04 |
| SNX TD Synnex Corp. | Reduce -21.7% | 0.22% | −0.02 |
| MRK Merck & Co. Inc. | Sold out | 0.00% | −0.02 |
| WM Waste Management Inc. | Sold out | 0.00% | −0.01 |
| HAYW Hayward Holdings Inc. | Reduce -5.7% | 0.60% | −0.01 |
| EFA iShares MSCI Eafe ETF | Reduce -7.5% | 0.11% | −0.01 |
| HUM Humana Inc. | Reduce -2.3% | 0.73% | −0.01 |
| ORI Old Republic Intl Corp. | Reduce -5.8% | 0.77% | −0.01 |
| JPM JPMorgan Chase & Co. | Reduce -3.4% | 1.46% | +0.00 |
| GL Globe Life Inc. | Reduce -5.8% | 0.54% | +0.02 |
| MKSI MKS Inc. | Reduce -5.8% | 0.56% | +0.06 |
| GOOGL Alphabet Inc. Class A | Reduce -22.2% | 3.11% | +0.06 |
| GNTX Gentex Corp. | Reduce -5.8% | 0.54% | +0.07 |
| EA Electronic Arts Inc. | Reduce -12.8% | 2.21% | +0.10 |
| LHX L3HARRIS Technologies Inc. | Reduce -9.6% | 3.33% | +0.15 |
Portfolio Buys Q2 2025 → Q3 2025
| UNH Unitedhealth Group Inc. | Add +234.8% | 3.70% | +2.65 |
| GOOG Alphabet Inc. Class C | Add +4126.0% | 1.89% | +1.85 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +3637.4% | 1.73% | +1.68 |
| KD Kyndryl Holdings Inc. | New | 1.28% | +1.28 |
| MDT Medtronic PLC | Add +48.2% | 3.38% | +1.18 |
| ORCL Oracle Corp. | New | 1.10% | +1.10 |
| QCOM Qualcomm Inc. | Add +60.8% | 2.55% | +0.96 |
| PM Philip Morris International | Add +5163.4% | 0.89% | +0.87 |
| ALL Allstate Corp. | New | 0.68% | +0.68 |
| LPX Louisiana-Pacific Corp. | New | 0.26% | +0.26 |
| NKE Nike Inc. Class B | Add +27.4% | 1.43% | +0.23 |
| HLMN Hillman Solutions Corp. | Add +3.6% | 0.42% | +0.09 |
| SNN Smith & Nephew PLC -Spon ADR | New | 0.08% | +0.08 |
| SNA Snap-on Inc. | Add +2.4% | 0.56% | +0.04 |
| MA Mastercard Inc. Class A | New | 0.03% | +0.03 |
| BSX Boston Scientific Corp. | New | 0.02% | +0.02 |
| SAP Sap SE-Sponsored ADR | New | 0.02% | +0.02 |
| VPL Vanguard Ftse Pacific ETF | New | 0.01% | +0.01 |
| SHOP Shopify Inc. Class A | New | 0.01% | +0.01 |
| AAPL Apple Inc. | Add +17.4% | 0.05% | +0.01 |
| PEP Pepsico Inc. | New | 0.01% | +0.01 |
| CEFA Global X S&P Cath Val Devel | Add +11.1% | 0.14% | +0.01 |
| AMZN Amazon.com Inc. | Add +32.8% | 0.04% | +0.01 |
| MSFT Microsoft Corp. | Add +16.1% | 0.06% | +0.01 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +1.0% | 0.16% | +0.01 |
| CNM Core & Main Inc. Class A | Add +1.7% | 0.64% | −0.10 |
| SEIC Sei Investments Company | Add +1.4% | 1.17% | −0.11 |
| CPAY Corpay Inc. | Add +6.6% | 1.04% | −0.14 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 85 | $1.3B | IVV, MSFT, UNH, GOOGL, V |
| Q1 2026 | 84 | $1.2B | IVV, LHX, WFC, GOOGL, V |
| Q4 2025 | 87 | $1.3B | IVV, LHX, GOOGL, WFC, CRM |
| Q3 2025 | 72 | $1.5B | IVV, UNH, MDT, LHX, GOOGL |
| Q2 2025Amended | 65 | $1.4B | IVV, LHX, GOOGL, DIS, HSIC |
| Q1 2025 | 75 | $1.4B | IVV, WFC, MDT, EA, LHX |
| Q4 2024 | 59 | $1.4B | IVV, WFC, GOOGL, EA, HSIC |
| Q3 2024 | 60 | $1.4B | IVV, HSIC, QCOM, WFC, MDT |
| Q2 2024 | 65 | $1.2B | IVV, QQQM, GOOGL, HSIC, QCOM |
| Q1 2024 | 64 | $1.0B | IVV, QQQM, HSIC, GOOGL, GPN |