Nexus Investment Management ULC

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 28, 2025), Nexus Investment Management ULC reported 80 stock positions worth $669.2 million. Its top holding was Meta Platforms Class A (META) at 8.8% of the portfolio, followed by JPMorgan Chase (JPM, 8.6%) and Cisco Systems (CSCO, 6.7%). Compared with Q1 2025, it opened 7 new positions, sold out of 2, added to 15 and reduced 10. The biggest buy was a new position in Thermo Fisher Scientific (TMO) and the biggest sale an exit from CVS Health (CVS).

Most Recent 13F
Q2 2026
Location
TORONTO, A6
CIK
0001476329
Portfolio Value
$669.2M (Q2 2025)
SEC Filing
0000945621-25-000643 ↗ filed Jul 28, 2025

Holdings Value

0$500.0M$1.0B$1.5B Q1 2024: $1.0B Q1 2024 Q2 2024: $952.1M Q2 2024 Q3 2024: $1.0B Q3 2024 Q4 2024: $999.7M Q4 2024 Q1 2025: $883.6M Q1 2025 Q2 2025: $669.2M $669.2M Q2 2025 Q3 2025: $704.4M Q3 2025 Q4 2025: $733.8M Q4 2025 Q1 2026: $715.1M Q1 2026 Q2 2026: $766.9M Q2 2026

Holdings 80 stocks · $669.2M
META Meta Platforms Inc. Class A 8.78% 79,644 $58.8M Reduce -1.0%
JPM JPMorgan Chase & Co. 8.55% 197,419 $57.2M Reduce -0.6%
CSCO Cisco Systems Inc. 6.73% 649,557 $45.1M Reduce -1.3%
C Citigroup Inc. 6.33% 497,973 $42.4M Reduce -0.7%
AEP American Electric Power 6.12% 394,407 $40.9M Reduce -0.5%
MSFT Microsoft Corp. 5.73% 77,120 $38.4M Add +0.1%
GOOG Alphabet Inc. Class C 5.67% 214,040 $38.0M Add +1.6%
DG Dollar General Corp. 4.88% 285,644 $32.7M Reduce -0.7%
ROST Ross Stores Inc. 4.75% 248,920 $31.8M Reduce -0.2%
GILD Gilead Sciences Inc. 3.94% 237,804 $26.4M Reduce -1.6%
KMX Carmax Inc. 3.79% 377,645 $25.4M Add +7.5%
EOG EOG Resources Inc. 3.71% 207,658 $24.8M Add +0.4%
TMO Thermo Fisher Scientific Inc. 3.64% 60,027 $24.3M New
UPS United Parcel Service Class B 3.28% 217,331 $21.9M Add +2.3%
TXN Texas Instruments Inc. 3.26% 105,043 $21.8M Add +3.4%
FERG Ferguson Enterprises Inc. 3.19% 98,066 $21.4M Add +3.8%
PFE Pfizer Inc. 3.17% 875,047 $21.2M Add +0.9%
V Visa Inc. Class A 3.10% 58,376 $20.7M Add +0.2%
MDT Medtronic PLC 3.03% 232,789 $20.3M Add +2.6%
MS Morgan Stanley 2.98% 141,701 $20.0M No change
HON Honeywell International Inc. 1.06% 30,430 $7.1M Add +0.4%
GLW Corning Inc. 0.74% 94,000 $4.9M No change
KR Kroger Co. 0.51% 47,565 $3.4M Reduce -5.9%
EFA iShares MSCI Eafe ETF 0.41% 30,550 $2.7M Reduce -3.2%
UNP Union Pacific Corp. 0.39% 11,306 $2.6M No change
DHR Danaher Corp. 0.23% 7,755 $1.5M No change
JNJ Johnson & Johnson 0.21% 9,331 $1.4M No change
GOOGL Alphabet Inc. Class A 0.19% 7,110 $1.3M No change
CVX Chevron Corp. 0.16% 7,576 $1.1M No change
VZ Verizon Communications Inc. 0.10% 15,610 $675K No change
COF Capital One Financial Corp. 0.10% 3,101 $660K New
ABBV Abbvie Inc. 0.10% 3,456 $642K No change
LLY Eli Lilly & Co. 0.09% 809 $631K No change
XOM Exxon Mobil Corp. 0.09% 5,705 $615K No change
T AT&T Inc. 0.08% 19,210 $556K No change
OTEX Open Text Corp. 0.08% 17,890 $522K No change
CSX CSX Corp. 0.08% 15,840 $517K No change
EXC Exelon Corp. 0.07% 11,415 $496K No change
TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC 0.05% 3,740 $361K No change
FSV Firstservice Corp. 0.05% 2,000 $349K No change
ABT Abbott Laboratories 0.05% 2,490 $339K No change
KMB Kimberly-Clark Corp. 0.05% 2,584 $333K No change
MRK Merck & Co. Inc. 0.04% 3,735 $296K No change
PG The Procter & Gamble Co. 0.04% 1,800 $287K No change
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.04% 5,350 $253K No change
EIX Edison International 0.03% 3,719 $192K No change
COST Costco Wholesale Corp. 0.03% 175 $173K Add +75.0%
VEA Vanguard Ftse Developed ETF 0.03% 3,024 $172K No change
VWO Vanguard Ftse Emerging Marke 0.02% 2,457 $122K No change
WMT Walmart Inc. 0.02% 1,185 $116K Add +113.5%
BIIB Biogen Inc. 0.02% 920 $116K No change
MA Mastercard Inc. Class A 0.02% 195 $110K No change
PRAA Pra Group Inc. 0.01% 6,450 $95K No change
CL Colgate-Palmolive Co. 0.01% 966 $88K No change
AMZN Amazon.com Inc. 0.01% 400 $88K New
ORCL Oracle Corp. 0.01% 400 $87K No change
BHC Bausch Health Cos Inc. 0.01% 13,000 $87K No change
BRK.B Berkshire Hathaway Inc. Class B 0.01% 166 $81K Add +172.1%
VLTO Veralto Corp. 0.01% 667 $67K No change
HQH Abrdn Healthcare Investors 0.01% 3,940 $61K No change
AAPL Apple Inc. 0.01% 260 $53K Add +333.3%
BMY Bristol-Myers Squibb Co. 0.01% 953 $44K No change
MCD McDonald's Corp. 0.01% 140 $41K New
HD Home Depot Inc. 0.01% 110 $40K New
AXP American Express Co. 0.01% 125 $40K No change
NEM Newmont Corp. 0.01% 650 $38K No change
FNV Franco-Nevada Corp. 0.01% 225 $37K No change
SBUX Starbucks Corp. 0.01% 380 $35K New
B Barrick Mining Corp. 0.00% 1,650 $31K No change
ADBE Adobe Inc. 0.00% 80 $31K New
NVS Novartis AG-Sponsored ADR 0.00% 220 $27K No change
BDX Becton Dickinson and Co. 0.00% 150 $26K No change
GDXJ Vaneck Junior Gold Miners 0.00% 300 $20K No change
ACN Accenture PLC Class A 0.00% 65 $19K No change
HQL Abrdn Life Sciences Investor 0.00% 1,489 $19K No change
PEP Pepsico Inc. 0.00% 125 $17K No change
SLV iShares Silver Trust 0.00% 500 $16K No change
RTX RTX Corp. 0.00% 44 $6K No change
VTRS Viatris Inc. 0.00% 409 $4K No change
CB144A Appvion Esc Npv 0.00% 1 $2K No change

Portfolio Sells Q1 2025 → Q2 2025
CVS CVS Health Corp. Sold out 0.00% −4.80
AEP American Electric Power Reduce -0.5% 6.12% −0.94
GILD Gilead Sciences Inc. Reduce -1.6% 3.94% −0.47
ROST Ross Stores Inc. Reduce -0.2% 4.75% −0.44
DFS Discover Financial Services Sold out 0.00% −0.08
KR Kroger Co. Reduce -5.9% 0.51% −0.05
EFA iShares MSCI Eafe ETF Reduce -3.2% 0.41% −0.01
CSCO Cisco Systems Inc. Reduce -1.3% 6.73% +0.12
C Citigroup Inc. Reduce -0.7% 6.33% +0.54
JPM JPMorgan Chase & Co. Reduce -0.6% 8.55% +0.62
DG Dollar General Corp. Reduce -0.7% 4.88% +0.77
META Meta Platforms Inc. Class A Reduce -1.0% 8.78% +1.24

Portfolio Buys Q1 2025 → Q2 2025
TMO Thermo Fisher Scientific Inc. New 3.64% +3.64
MSFT Microsoft Corp. Add +0.1% 5.73% +1.03
FERG Ferguson Enterprises Inc. Add +3.8% 3.19% +0.73
GOOG Alphabet Inc. Class C Add +1.6% 5.67% +0.32
TXN Texas Instruments Inc. Add +3.4% 3.26% +0.29
COF Capital One Financial Corp. New 0.10% +0.10
HON Honeywell International Inc. Add +0.4% 1.06% +0.01
AMZN Amazon.com Inc. New 0.01% +0.01
COST Costco Wholesale Corp. Add +75.0% 0.03% +0.01
WMT Walmart Inc. Add +113.5% 0.02% +0.01
BRK.B Berkshire Hathaway Inc. Class B Add +172.1% 0.01% +0.01
MCD McDonald's Corp. New 0.01% +0.01
HD Home Depot Inc. New 0.01% +0.01
AAPL Apple Inc. Add +333.3% 0.01% +0.01
SBUX Starbucks Corp. New 0.01% +0.01
ADBE Adobe Inc. New 0.00% +0.00
V Visa Inc. Class A Add +0.2% 3.10% −0.23
MDT Medtronic PLC Add +2.6% 3.03% −0.29
PFE Pfizer Inc. Add +0.9% 3.17% −0.41
UPS United Parcel Service Class B Add +2.3% 3.28% −0.52
EOG EOG Resources Inc. Add +0.4% 3.71% −0.60
KMX Carmax Inc. Add +7.5% 3.79% −0.67

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 72$766.9MJPM, GOOG, AEP, C, ROST
Q1 2026 70$715.1MJPM, ROST, AEP, CSCO, GOOG
Q4 2025 70$733.8MGOOG, JPM, CSCO, C, AEP
Q3 2025 70$704.4MJPM, GOOG, META, C, CSCO
Q2 2025 80$669.2MMETA, JPM, CSCO, C, AEP
Q1 2025 75$883.6MJPM, META, AEP, CSCO, C
Q4 2024 69$999.7MRY, JPM, META, GOOG, TD
Q3 2024 72$1.0BRY, META, TD, JPM, BIP
Q2 2024 74$952.1MRY, JPM, META, TD, MSFT
Q1 2024 76$1.0BJPM, RY, TD, META, ROST