Mufg Securities (canada), LTD.
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 13, 2026), Mufg Securities (canada), LTD. reported 43 stock positions worth $3.6 billion. Its top holding was Royal Bank of Canada (RY) at 10.1% of the portfolio, followed by Shopify Class A (SHOP, 8.3%) and TC Energy (TRP, 8.3%). Compared with Q3 2025, it opened 1 new position, sold out of 1, added to 3 and reduced 39. The biggest buy was a new position in Celestica (CLS) and the biggest sale Enbridge (ENB, shares −8%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001656187
- Portfolio Value
- $3.6B (Q4 2025)
- SEC Filing
- 0001656187-26-000001 ↗ filed Feb 13, 2026
Holdings Value
Holdings 43 stocks · $3.6B
| RY Royal Bank of Canada | 10.14% | 2,137,220 | $364.4M | Reduce -8.1% |
| SHOP Shopify Inc. Class A | 8.34% | 1,862,000 | $299.9M | Reduce -7.8% |
| TRP TC Energy Corp. | 8.31% | 5,424,436 | $298.8M | Add +16.1% |
| TD Toronto-Dominion Bank | 6.77% | 2,583,057 | $243.5M | Reduce -9.0% |
| ENB Enbridge Inc. | 4.42% | 3,320,913 | $158.9M | Reduce -8.0% |
| BN Brookfield Corp. | 4.20% | 3,288,214 | $151.0M | Reduce -7.9% |
| BMO Bank of Montreal filed as BANK MONTREAL QUE | 3.91% | 1,083,543 | $140.7M | Reduce -8.6% |
| BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA HALIFAX | 3.86% | 1,882,429 | $138.9M | Reduce -8.4% |
| AEM Agnico Eagle Mines Ltd. | 3.61% | 765,186 | $129.8M | Reduce -8.0% |
| CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BANK OF CO | 3.57% | 1,414,164 | $128.2M | Reduce -8.1% |
| B Barrick Mining Corp. | 3.11% | 2,569,327 | $111.9M | Reduce -9.0% |
| CNQ Canadian Natural Resources | 2.99% | 3,171,955 | $107.5M | Reduce -8.2% |
| CP Canadian Pacific Kansas City | 2.81% | 1,371,627 | $101.0M | Reduce -9.3% |
| MFC Manulife Financial Corp. | 2.59% | 2,565,602 | $93.2M | Reduce -8.7% |
| CNI Canadian Natl Railway Co. | 2.29% | 834,086 | $82.5M | Reduce -9.3% |
| WPM Wheaton Precious Metals Corp. | 2.26% | 691,299 | $81.3M | Reduce -8.0% |
| SU Suncor Energy Inc. | 2.26% | 1,829,078 | $81.2M | Reduce -8.9% |
| WCN Waste Connections Inc. | 1.90% | 389,553 | $68.3M | Reduce -8.9% |
| FNV Franco-Nevada Corp. | 1.69% | 293,527 | $60.9M | Reduce -8.0% |
| CCJ Cameco Corp. | 1.69% | 662,961 | $60.7M | Reduce -8.0% |
| SLF Sun Life Financial Inc. | 1.47% | 848,740 | $53.0M | Reduce -8.9% |
| CLS Celestica Inc. | 1.46% | 175,158 | $52.3M | New |
| KGC Kinross Gold Corp. | 1.44% | 1,838,128 | $51.8M | Reduce -8.6% |
| NTR Nutrien Ltd. | 1.26% | 736,138 | $45.4M | Reduce -8.6% |
| FTS Fortis Inc. | 1.11% | 769,632 | $40.0M | Reduce -7.6% |
| CVE Cenovus Energy Inc. | 0.99% | 2,094,102 | $35.4M | Add +0.5% |
| QSR Restaurant Brands Intern | 0.95% | 499,134 | $34.1M | Reduce -8.0% |
| BCE Bce Inc. | 0.94% | 1,419,886 | $33.9M | Reduce -8.0% |
| PBA Pembina Pipeline Corp. | 0.94% | 884,716 | $33.7M | Reduce -8.0% |
| TECK Teck Resources Ltd.-CLS B | 0.91% | 680,583 | $32.6M | Reduce -8.4% |
| TU Telus Corp. | 0.84% | 2,295,522 | $30.3M | Reduce -9.6% |
| BAM Brookfield Asset Mgmt-A | 0.84% | 573,553 | $30.1M | Reduce -8.0% |
| GIB Cgi Inc. | 0.76% | 296,956 | $27.4M | Reduce -9.7% |
| TRI Thomson Reuters Corp. | 0.75% | 204,028 | $26.9M | Reduce -8.8% |
| BIP Brookfield Infrastructure Pa | 0.68% | 702,294 | $24.4M | Reduce -8.0% |
| EMA Emera Inc. | 0.63% | 457,692 | $22.6M | Reduce -7.6% |
| RCI Rogers Communications Inc. Class B | 0.62% | 587,985 | $22.2M | Reduce -8.0% |
| MGA Magna International Inc. | 0.60% | 403,351 | $21.5M | Reduce -8.0% |
| IMO Imperial Oil Ltd. | 0.56% | 234,525 | $20.3M | Reduce -9.8% |
| GIL Gildan Activewear Inc. | 0.49% | 281,928 | $17.6M | Add +14.2% |
| CAE Cae Inc. | 0.41% | 489,597 | $14.9M | Reduce -7.7% |
| OTEX Open Text Corp. | 0.35% | 383,718 | $12.5M | Reduce -8.8% |
| FSV Firstservice Corp. | 0.27% | 62,642 | $9.7M | Reduce -7.7% |
Portfolio Sells Q3 2025 → Q4 2025
| ENB Enbridge Inc. | Reduce -8.0% | 4.42% | −0.67 |
| BMO Bank of Montreal | Reduce -8.6% | 3.91% | −0.40 |
| BN Brookfield Corp. | Reduce -7.9% | 4.20% | −0.36 |
| CP Canadian Pacific Kansas City | Reduce -9.3% | 2.81% | −0.34 |
| AEM Agnico Eagle Mines Ltd. | Reduce -8.0% | 3.61% | −0.31 |
| FNV Franco-Nevada Corp. | Reduce -8.0% | 1.69% | −0.29 |
| TU Telus Corp. | Reduce -9.6% | 0.84% | −0.28 |
| TRI Thomson Reuters Corp. | Reduce -8.8% | 0.75% | −0.22 |
| WCN Waste Connections Inc. | Reduce -8.9% | 1.90% | −0.20 |
| AQN Algonquin Power & Utilities | Sold out | 0.00% | −0.17 |
| BAM Brookfield Asset Mgmt-A | Reduce -8.0% | 0.84% | −0.16 |
| PBA Pembina Pipeline Corp. | Reduce -8.0% | 0.94% | −0.15 |
| CNI Canadian Natl Railway Co. | Reduce -9.3% | 2.29% | −0.13 |
| CNQ Canadian Natural Resources | Reduce -8.2% | 2.99% | −0.10 |
| IMO Imperial Oil Ltd. | Reduce -9.8% | 0.56% | −0.10 |
| OTEX Open Text Corp. | Reduce -8.8% | 0.35% | −0.09 |
| SLF Sun Life Financial Inc. | Reduce -8.9% | 1.47% | −0.09 |
| FSV Firstservice Corp. | Reduce -7.7% | 0.27% | −0.09 |
| SU Suncor Energy Inc. | Reduce -8.9% | 2.26% | −0.09 |
| WPM Wheaton Precious Metals Corp. | Reduce -8.0% | 2.26% | −0.09 |
| FTS Fortis Inc. | Reduce -7.6% | 1.11% | −0.07 |
| BCE Bce Inc. | Reduce -8.0% | 0.94% | −0.07 |
| NTR Nutrien Ltd. | Reduce -8.6% | 1.26% | −0.06 |
| GIB Cgi Inc. | Reduce -9.7% | 0.76% | −0.06 |
| SHOP Shopify Inc. Class A | Reduce -7.8% | 8.34% | −0.05 |
| EMA Emera Inc. | Reduce -7.6% | 0.63% | −0.04 |
| QSR Restaurant Brands Intern | Reduce -8.0% | 0.95% | −0.03 |
| CAE Cae Inc. | Reduce -7.7% | 0.41% | −0.03 |
| BIP Brookfield Infrastructure Pa | Reduce -8.0% | 0.68% | −0.02 |
| TECK Teck Resources Ltd.-CLS B | Reduce -8.4% | 0.91% | −0.01 |
| CCJ Cameco Corp. | Reduce -8.0% | 1.69% | −0.00 |
| RCI Rogers Communications Inc. Class B | Reduce -8.0% | 0.62% | +0.00 |
| MGA Magna International Inc. | Reduce -8.0% | 0.60% | +0.02 |
| KGC Kinross Gold Corp. | Reduce -8.6% | 1.44% | +0.05 |
| CM Can Imperial BK of Commerce | Reduce -8.1% | 3.57% | +0.13 |
| MFC Manulife Financial Corp. | Reduce -8.7% | 2.59% | +0.14 |
| BNS Bank of Nova Scotia | Reduce -8.4% | 3.86% | +0.15 |
| TD Toronto-Dominion Bank | Reduce -9.0% | 6.77% | +0.43 |
| B Barrick Mining Corp. | Reduce -9.0% | 3.11% | +0.52 |
| RY Royal Bank of Canada | Reduce -8.1% | 10.14% | +0.55 |
Portfolio Buys Q3 2025 → Q4 2025
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 43 | $3.7B | RY, TRP, TD, CNQ, SHOP |
| Q1 2026 | 43 | $3.5B | RY, TD, SHOP, TRP, ENB |
| Q4 2025 | 43 | $3.6B | RY, SHOP, TRP, TD, ENB |
| Q3 2025 | 43 | $3.6B | RY, SHOP, TRP, TD, ENB |
| Q2 2025 | 43 | $3.3B | RY, SHOP, TRP, TD, ENB |
| Q1 2025 | 42 | $2.9B | TRP, RY, TD, SHOP, ENB |
| Q4 2024 | 42 | $2.8B | TRP, RY, SHOP, CM, TD |
| Q3 2024 | 42 | $2.2B | TD, CM, RY, SHOP, BNS |
| Q2 2024 | 42 | $1.5B | TRP, CM, RY, BNS, NTR |
| Q1 2024 | 42 | $790.7M | TRP, BNS, CM, TD, RY |