Nexus Investment Management ULC

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 24, 2025), Nexus Investment Management ULC reported 70 stock positions worth $704.4 million. Its top holding was JPMorgan Chase (JPM) at 8.6% of the portfolio, followed by Alphabet Class C (GOOG, 7.4%) and Meta Platforms Class A (META, 7.0%). Compared with Q2 2025, it sold out of 10, added to 26 and reduced 14. The biggest buy was Alphabet Class C (GOOG, shares +0%) and the biggest sale Meta Platforms Class A (META, shares −16%).

Most Recent 13F
Q2 2026
Location
TORONTO, A6
CIK
0001476329
Portfolio Value
$704.4M (Q3 2025)
SEC Filing
0000945621-25-000983 ↗ filed Oct 24, 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 Q2 2025 Q3 2025: $704.4M $704.4M Q3 2025 Q4 2025: $733.8M Q4 2025 Q1 2026: $715.1M Q1 2026 Q2 2026: $766.9M Q2 2026

Holdings 70 stocks · $704.4M
JPM JPMorgan Chase & Co. 8.63% 192,679 $60.8M Reduce -2.4%
GOOG Alphabet Inc. Class C 7.42% 214,565 $52.3M Add +0.3%
META Meta Platforms Inc. Class A 7.00% 67,092 $49.3M Reduce -15.8%
C Citigroup Inc. 6.95% 482,048 $48.9M Reduce -3.2%
CSCO Cisco Systems Inc. 6.31% 649,582 $44.4M Add +0.0%
AEP American Electric Power 6.30% 394,544 $44.4M Add +0.0%
MSFT Microsoft Corp. 5.64% 76,677 $39.7M Reduce -0.6%
ROST Ross Stores Inc. 5.40% 249,747 $38.1M Add +0.3%
TMO Thermo Fisher Scientific Inc. 4.65% 67,537 $32.8M Add +12.5%
DG Dollar General Corp. 4.20% 286,249 $29.6M Add +0.2%
GILD Gilead Sciences Inc. 4.08% 259,024 $28.8M Add +8.9%
MDT Medtronic PLC 3.97% 293,403 $27.9M Add +26.0%
PFE Pfizer Inc. 3.51% 971,525 $24.8M Add +11.0%
EOG EOG Resources Inc. 3.32% 208,473 $23.4M Add +0.4%
FERG Ferguson Enterprises Inc. 3.19% 99,966 $22.5M Add +1.9%
MS Morgan Stanley 2.98% 132,027 $21.0M Reduce -6.8%
V Visa Inc. Class A 2.90% 59,856 $20.4M Add +2.5%
KMX Carmax Inc. 2.86% 448,710 $20.1M Add +18.8%
TXN Texas Instruments Inc. 2.78% 106,391 $19.5M Add +1.3%
UPS United Parcel Service Class B 2.58% 217,966 $18.2M Add +0.3%
GLW Corning Inc. 0.94% 81,000 $6.6M Reduce -13.8%
HON Honeywell International Inc. 0.91% 30,474 $6.4M Add +0.1%
EFA iShares MSCI Eafe ETF 0.50% 37,750 $3.5M Add +23.6%
KR Kroger Co. 0.46% 47,865 $3.2M Add +0.6%
UNP Union Pacific Corp. 0.38% 11,306 $2.7M No change
JNJ Johnson & Johnson 0.25% 9,431 $1.7M Add +1.1%
GOOGL Alphabet Inc. Class A 0.24% 7,015 $1.7M Reduce -1.3%
DHR Danaher Corp. 0.22% 7,755 $1.5M No change
CVX Chevron Corp. 0.17% 7,641 $1.2M Add +0.9%
ABBV Abbvie Inc. 0.11% 3,456 $800K No change
VZ Verizon Communications Inc. 0.10% 15,610 $686K No change
OTEX Open Text Corp. 0.09% 17,890 $669K No change
XOM Exxon Mobil Corp. 0.09% 5,794 $653K Add +1.6%
LLY Eli Lilly & Co. 0.09% 799 $610K Reduce -1.2%
EXC Exelon Corp. 0.08% 12,857 $579K Add +12.6%
CSX CSX Corp. 0.08% 15,840 $562K No change
T AT&T Inc. 0.07% 17,210 $486K Reduce -10.4%
TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC 0.05% 3,740 $384K No change
ABT Abbott Laboratories 0.05% 2,490 $334K No change
KMB Kimberly-Clark Corp. 0.05% 2,584 $321K No change
MRK Merck & Co. Inc. 0.04% 3,735 $313K No change
PG The Procter & Gamble Co. 0.04% 1,800 $277K No change
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.04% 5,350 $276K No change
EIX Edison International 0.03% 3,719 $206K No change
FSV Firstservice Corp. 0.03% 1,000 $190K Reduce -50.0%
VEA Vanguard Ftse Developed ETF 0.03% 3,024 $181K No change
VWO Vanguard Ftse Emerging Marke 0.02% 2,457 $133K No change
BIIB Biogen Inc. 0.02% 920 $129K No change
ORCL Oracle Corp. 0.02% 400 $112K No change
MA Mastercard Inc. Class A 0.02% 195 $111K No change
PRAA Pra Group Inc. 0.01% 6,450 $100K No change
COST Costco Wholesale Corp. 0.01% 100 $93K Reduce -42.9%
BHC Bausch Health Cos Inc. 0.01% 13,000 $84K No change
CL Colgate-Palmolive Co. 0.01% 966 $77K No change
VLTO Veralto Corp. 0.01% 667 $71K No change
WMT Walmart Inc. 0.01% 555 $57K Reduce -53.2%
FNV Franco-Nevada Corp. 0.01% 250 $56K Add +11.1%
NEM Newmont Corp. 0.01% 650 $55K No change
B Barrick Mining Corp. 0.01% 2,300 $43K Add +39.4%
BMY Bristol-Myers Squibb Co. 0.01% 953 $43K No change
AXP American Express Co. 0.01% 125 $42K No change
GDXJ Vaneck Junior Gold Miners 0.00% 350 $35K Add +16.7%
SLV iShares Silver Trust 0.00% 750 $32K Add +50.0%
BRK.B Berkshire Hathaway Inc. Class B 0.00% 61 $31K Reduce -63.3%
NVS Novartis AG-Sponsored ADR 0.00% 220 $28K No change
BDX Becton Dickinson and Co. 0.00% 150 $28K No change
PEP Pepsico Inc. 0.00% 125 $18K No change
ACN Accenture PLC Class A 0.00% 65 $16K No change
AAPL Apple Inc. 0.00% 60 $15K Reduce -76.9%
CB144A Appvion Esc Npv 0.00% 1 $2K No change

Portfolio Sells Q2 2025 → Q3 2025
META Meta Platforms Inc. Class A Reduce -15.8% 7.00% −1.79
COF Capital One Financial Corp. Sold out 0.00% −0.10
MSFT Microsoft Corp. Reduce -0.6% 5.64% −0.09
FSV Firstservice Corp. Reduce -50.0% 0.03% −0.03
T AT&T Inc. Reduce -10.4% 0.07% −0.01
AMZN Amazon.com Inc. Sold out 0.00% −0.01
COST Costco Wholesale Corp. Reduce -42.9% 0.01% −0.01
WMT Walmart Inc. Reduce -53.2% 0.01% −0.01
HQH Abrdn Healthcare Investors Sold out 0.00% −0.01
BRK.B Berkshire Hathaway Inc. Class B Reduce -63.3% 0.00% −0.01
LLY Eli Lilly & Co. Reduce -1.2% 0.09% −0.01
MCD McDonald's Corp. Sold out 0.00% −0.01
HD Home Depot Inc. Sold out 0.00% −0.01
AAPL Apple Inc. Reduce -76.9% 0.00% −0.01
SBUX Starbucks Corp. Sold out 0.00% −0.01
ADBE Adobe Inc. Sold out 0.00% −0.00
MS Morgan Stanley Reduce -6.8% 2.98% −0.00
HQL Abrdn Life Sciences Investor Sold out 0.00% −0.00
RTX RTX Corp. Sold out 0.00% −0.00
VTRS Viatris Inc. Sold out 0.00% −0.00
GOOGL Alphabet Inc. Class A Reduce -1.3% 0.24% +0.05
JPM JPMorgan Chase & Co. Reduce -2.4% 8.63% +0.08
GLW Corning Inc. Reduce -13.8% 0.94% +0.20
C Citigroup Inc. Reduce -3.2% 6.95% +0.61

Portfolio Buys Q2 2025 → Q3 2025
GOOG Alphabet Inc. Class C Add +0.3% 7.42% +1.75
TMO Thermo Fisher Scientific Inc. Add +12.5% 4.65% +1.01
MDT Medtronic PLC Add +26.0% 3.97% +0.93
ROST Ross Stores Inc. Add +0.3% 5.40% +0.66
PFE Pfizer Inc. Add +11.0% 3.51% +0.34
AEP American Electric Power Add +0.0% 6.30% +0.19
GILD Gilead Sciences Inc. Add +8.9% 4.08% +0.14
EFA iShares MSCI Eafe ETF Add +23.6% 0.50% +0.09
JNJ Johnson & Johnson Add +1.1% 0.25% +0.04
EXC Exelon Corp. Add +12.6% 0.08% +0.01
CVX Chevron Corp. Add +0.9% 0.17% +0.01
FNV Franco-Nevada Corp. Add +11.1% 0.01% +0.00
SLV iShares Silver Trust Add +50.0% 0.00% +0.00
GDXJ Vaneck Junior Gold Miners Add +16.7% 0.00% +0.00
B Barrick Mining Corp. Add +39.4% 0.01% +0.00
XOM Exxon Mobil Corp. Add +1.6% 0.09% +0.00
FERG Ferguson Enterprises Inc. Add +1.9% 3.19% −0.00
KR Kroger Co. Add +0.6% 0.46% −0.05
HON Honeywell International Inc. Add +0.1% 0.91% −0.15
V Visa Inc. Class A Add +2.5% 2.90% −0.20
EOG EOG Resources Inc. Add +0.4% 3.32% −0.39
CSCO Cisco Systems Inc. Add +0.0% 6.31% −0.42
TXN Texas Instruments Inc. Add +1.3% 2.78% −0.48
DG Dollar General Corp. Add +0.2% 4.20% −0.68
UPS United Parcel Service Class B Add +0.3% 2.58% −0.69
KMX Carmax Inc. Add +18.8% 2.86% −0.93

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