QV Investors Inc.
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed January 13, 2025), QV Investors Inc. reported 63 stock positions worth $969.9 million. Its top holding was Sun Life Financial (SLF) at 8.3% of the portfolio, followed by Enbridge (ENB, 6.8%) and Cgi (GIB, 6.1%). Compared with Q3 2024, it opened 1 new position, sold out of 3, added to 13 and reduced 47. The biggest buy was Sun Life Financial (SLF, shares +12%) and the biggest sale an exit from Royal Bank of Canada (RY).
- Most Recent 13F
- Q2 2026
- Location
- CALGARY, A0
- CIK
- 0001570253
- Portfolio Value
- $969.9M (Q4 2024)
- SEC Filing
- 0001570253-25-000001 ↗ filed Jan 13, 2025
Holdings Value
Holdings 63 stocks · $969.9M
| SLF Sun Life Financial Inc. | 8.28% | 1,352,446 | $80.3M | Add +11.7% |
| ENB Enbridge Inc. | 6.82% | 1,558,177 | $66.1M | Reduce -0.0% |
| GIB Cgi Inc. | 6.06% | 537,746 | $58.8M | Reduce -0.0% |
| FTS Fortis Inc. | 4.60% | 1,074,643 | $44.6M | Add +6.0% |
| CNI Canadian Natl Railway Co. | 4.60% | 439,661 | $44.6M | Add +66.7% |
| RBA RB Global Inc. | 3.89% | 417,930 | $37.7M | Reduce -0.0% |
| TD Toronto-Dominion Bank | 3.16% | 576,217 | $30.7M | Reduce -33.4% |
| TFII Tfi International Inc. | 3.03% | 217,930 | $29.4M | Reduce -0.0% |
| FNV Franco-Nevada Corp. | 3.01% | 248,931 | $29.2M | Reduce -0.0% |
| IMO Imperial Oil Ltd. | 2.85% | 448,104 | $27.6M | Reduce -0.0% |
| MGA Magna International Inc. | 2.84% | 658,767 | $27.5M | Reduce -0.0% |
| CP Canadian Pacific Kansas City | 2.58% | 346,157 | $25.1M | Add +44.0% |
| TIXT Telus International Cda Inc. | 2.44% | 6,011,400 | $23.6M | Reduce -0.0% |
| CNC Centene Corp. | 2.40% | 383,522 | $23.2M | Add +48.6% |
| BAM Brookfield Asset Mgmt-A | 2.32% | 414,765 | $22.5M | Reduce -25.3% |
| DOO BRP Inc./Ca- Sub Voting | 2.30% | 437,521 | $22.3M | Reduce -0.0% |
| BN Brookfield Corp. | 2.26% | 380,901 | $21.9M | Reduce -0.0% |
| NTR Nutrien Ltd. | 2.23% | 482,537 | $21.6M | Reduce -0.0% |
| UNH Unitedhealth Group Inc. | 1.74% | 33,304 | $16.8M | Reduce -45.8% |
| DRI Darden Restaurants Inc. | 1.69% | 87,702 | $16.4M | Add +4.3% |
| GOOGL Alphabet Inc. Class A | 1.66% | 85,280 | $16.1M | Add +21.6% |
| STN Stantec Inc. | 1.66% | 205,725 | $16.1M | Reduce -8.2% |
| AMZN Amazon.com Inc. | 1.60% | 70,610 | $15.5M | Add +14.1% |
| JNJ Johnson & Johnson | 1.56% | 104,940 | $15.2M | Add +7.8% |
| PEP Pepsico Inc. | 1.50% | 95,495 | $14.5M | Add +1.3% |
| UL Unilever PLC | 1.35% | 230,904 | $13.1M | Reduce -25.6% |
| RCI Rogers Communications Inc. Class B | 1.30% | 411,693 | $12.7M | New |
| MMM 3M Co. | 1.30% | 97,585 | $12.6M | Reduce -3.2% |
| SOLV Solventum Corp. | 1.24% | 182,312 | $12.0M | Reduce -27.2% |
| ROST Ross Stores Inc. | 1.19% | 76,230 | $11.5M | Reduce -2.2% |
| UNP Union Pacific Corp. | 1.19% | 50,441 | $11.5M | Reduce -3.1% |
| MRK Merck & Co. Inc. | 1.09% | 106,272 | $10.6M | Add +157.9% |
| EOG EOG Resources Inc. | 1.09% | 86,170 | $10.6M | Reduce -3.6% |
| AZO AutoZone Inc. | 0.97% | 2,925 | $9.4M | Reduce -41.9% |
| SBUX Starbucks Corp. | 0.88% | 93,920 | $8.6M | Reduce -50.3% |
| HRL Hormel Foods Corp. | 0.85% | 263,510 | $8.3M | Reduce -3.1% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.82% | 71,650 | $8.0M | Reduce -35.2% |
| OZK Bank Ozk | 0.75% | 163,590 | $7.3M | Reduce -4.4% |
| BABA Alibaba Group Holding-SP ADR | 0.75% | 85,817 | $7.3M | Reduce -39.9% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.65% | 143,240 | $6.3M | Reduce -25.9% |
| NRC NRC Health filed as NATIONAL RESH CORP | 0.64% | 354,360 | $6.3M | Add +4.5% |
| JPM JPMorgan Chase & Co. | 0.64% | 25,765 | $6.2M | Reduce -13.0% |
| CMI Cummins Inc. | 0.55% | 15,285 | $5.3M | Reduce -22.4% |
| SAM Boston Beer Company Inc. Class A | 0.52% | 16,880 | $5.1M | Reduce -18.3% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.49% | 10,576 | $4.8M | Reduce -1.9% |
| PCAR Paccar Inc. | 0.49% | 45,505 | $4.7M | Reduce -2.0% |
| XOM Exxon Mobil Corp. | 0.45% | 40,771 | $4.4M | Reduce -2.0% |
| ORCL Oracle Corp. | 0.43% | 24,765 | $4.1M | Reduce -27.3% |
| HD Home Depot Inc. | 0.42% | 10,457 | $4.1M | Reduce -1.8% |
| AXP American Express Co. | 0.34% | 11,220 | $3.3M | Reduce -1.8% |
| LII Lennox International Inc. | 0.34% | 5,439 | $3.3M | Reduce -1.6% |
| CVX Chevron Corp. | 0.33% | 22,417 | $3.2M | Reduce -2.1% |
| WFC Wells Fargo & Co. | 0.27% | 36,867 | $2.6M | Reduce -1.9% |
| THO Thor Industries Inc. | 0.27% | 26,986 | $2.6M | Reduce -2.8% |
| NFLX Netflix Inc. | 0.26% | 2,840 | $2.5M | Reduce -54.4% |
| AFL Aflac Inc. | 0.23% | 21,330 | $2.2M | Reduce -53.0% |
| MCK McKesson Corp. | 0.20% | 3,439 | $2.0M | Reduce -1.7% |
| VZ Verizon Communications Inc. | 0.17% | 40,405 | $1.6M | Reduce -2.0% |
| MU Micron Technology Inc. | 0.11% | 12,950 | $1.1M | Reduce -2.0% |
| OGS One Gas Inc. | 0.10% | 14,030 | $972K | No change |
| NVEE NV5 Global Inc. | 0.09% | 48,580 | $915K | Add +153.6% |
| STR Sitio Royalties Corp. Class A | 0.09% | 47,386 | $909K | No change |
| NVO Novo-Nordisk A/S-Spons ADR | 0.07% | 8,274 | $712K | Reduce -2.1% |
Portfolio Sells Q3 2024 → Q4 2024
| RY Royal Bank of Canada | Sold out | 0.00% | −5.76 |
| TRP TC Energy Corp. | Sold out | 0.00% | −2.08 |
| CNQ Canadian Natural Resources | Sold out | 0.00% | −1.87 |
| TD Toronto-Dominion Bank | Reduce -33.4% | 3.16% | −1.68 |
| UNH Unitedhealth Group Inc. | Reduce -45.8% | 1.74% | −1.44 |
| SBUX Starbucks Corp. | Reduce -50.3% | 0.88% | −0.74 |
| BABA Alibaba Group Holding-SP ADR | Reduce -39.9% | 0.75% | −0.59 |
| AZO AutoZone Inc. | Reduce -41.9% | 0.97% | −0.44 |
| UL Unilever PLC | Reduce -25.6% | 1.35% | −0.43 |
| SOLV Solventum Corp. | Reduce -27.2% | 1.24% | −0.30 |
| AFL Aflac Inc. | Reduce -53.0% | 0.23% | −0.22 |
| NFLX Netflix Inc. | Reduce -54.4% | 0.26% | −0.13 |
| DIS The Walt Disney Co. | Reduce -35.2% | 0.82% | −0.12 |
| ORCL Oracle Corp. | Reduce -27.3% | 0.43% | −0.09 |
| BAC Bank of America Corp. | Reduce -25.9% | 0.65% | −0.03 |
| NVO Novo-Nordisk A/S-Spons ADR | Reduce -2.1% | 0.07% | −0.02 |
| CMI Cummins Inc. | Reduce -22.4% | 0.55% | −0.01 |
| MU Micron Technology Inc. | Reduce -2.0% | 0.11% | −0.01 |
| DOO BRP Inc./Ca- Sub Voting | Reduce -0.0% | 2.30% | −0.01 |
| SAM Boston Beer Company Inc. Class A | Reduce -18.3% | 0.52% | −0.01 |
| BAM Brookfield Asset Mgmt-A | Reduce -25.3% | 2.32% | −0.00 |
| THO Thor Industries Inc. | Reduce -2.8% | 0.27% | −0.00 |
| VZ Verizon Communications Inc. | Reduce -2.0% | 0.17% | +0.00 |
| XOM Exxon Mobil Corp. | Reduce -2.0% | 0.45% | +0.02 |
| CVX Chevron Corp. | Reduce -2.1% | 0.33% | +0.04 |
| HD Home Depot Inc. | Reduce -1.8% | 0.42% | +0.04 |
| LII Lennox International Inc. | Reduce -1.6% | 0.34% | +0.05 |
| MCK McKesson Corp. | Reduce -1.7% | 0.20% | +0.05 |
| UNP Union Pacific Corp. | Reduce -3.1% | 1.19% | +0.05 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -1.9% | 0.49% | +0.06 |
| IMO Imperial Oil Ltd. | Reduce -0.0% | 2.85% | +0.06 |
| AXP American Express Co. | Reduce -1.8% | 0.34% | +0.07 |
| STN Stantec Inc. | Reduce -8.2% | 1.66% | +0.07 |
| WFC Wells Fargo & Co. | Reduce -1.9% | 0.27% | +0.08 |
| MMM 3M Co. | Reduce -3.2% | 1.30% | +0.08 |
| PCAR Paccar Inc. | Reduce -2.0% | 0.49% | +0.08 |
| JPM JPMorgan Chase & Co. | Reduce -13.0% | 0.64% | +0.09 |
| HRL Hormel Foods Corp. | Reduce -3.1% | 0.85% | +0.09 |
| OZK Bank Ozk | Reduce -4.4% | 0.75% | +0.10 |
| EOG EOG Resources Inc. | Reduce -3.6% | 1.09% | +0.12 |
| ROST Ross Stores Inc. | Reduce -2.2% | 1.19% | +0.15 |
| NTR Nutrien Ltd. | Reduce -0.0% | 2.23% | +0.17 |
| FNV Franco-Nevada Corp. | Reduce -0.0% | 3.01% | +0.28 |
| TIXT Telus International Cda Inc. | Reduce -0.0% | 2.44% | +0.36 |
| TFII Tfi International Inc. | Reduce -0.0% | 3.03% | +0.39 |
| MGA Magna International Inc. | Reduce -0.0% | 2.84% | +0.45 |
| BN Brookfield Corp. | Reduce -0.0% | 2.26% | +0.47 |
| GIB Cgi Inc. | Reduce -0.0% | 6.06% | +0.59 |
| RBA RB Global Inc. | Reduce -0.0% | 3.89% | +0.91 |
| ENB Enbridge Inc. | Reduce -0.0% | 6.82% | +1.21 |
Portfolio Buys Q3 2024 → Q4 2024
| SLF Sun Life Financial Inc. | Add +11.7% | 8.28% | +2.06 |
| CNI Canadian Natl Railway Co. | Add +66.7% | 4.60% | +1.87 |
| RCI Rogers Communications Inc. Class B | New | 1.30% | +1.30 |
| CP Canadian Pacific Kansas City | Add +44.0% | 2.58% | +0.76 |
| CNC Centene Corp. | Add +48.6% | 2.40% | +0.68 |
| MRK Merck & Co. Inc. | Add +157.9% | 1.09% | +0.68 |
| GOOGL Alphabet Inc. Class A | Add +21.6% | 1.66% | +0.64 |
| AMZN Amazon.com Inc. | Add +14.1% | 1.60% | +0.58 |
| FTS Fortis Inc. | Add +6.0% | 4.60% | +0.53 |
| DRI Darden Restaurants Inc. | Add +4.3% | 1.69% | +0.47 |
| JNJ Johnson & Johnson | Add +7.8% | 1.56% | +0.17 |
| PEP Pepsico Inc. | Add +1.3% | 1.50% | +0.08 |
| NVEE NV5 Global Inc. | Add +153.6% | 0.09% | +0.05 |
| NRC NRC Health | Add +4.5% | 0.64% | −0.04 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 68 | $1.3B | SUNC, CNI, RY, CP, GIB |
| Q1 2026 | 65 | $1.2B | SUNC, RY, CNI, CP, FNV |
| Q4 2025 | 64 | $1.2B | RY, GIB, CNI, SUNC, CP |
| Q3 2025 | 63 | $1.2B | GIB, RY, SLF, ENB, CNI |
| Q2 2025 | 63 | $1.0B | SLF, GIB, CNI, RY, FTS |
| Q1 2025 | 65 | $990.4M | SLF, ENB, GIB, RY, CNI |
| Q4 2024 | 63 | $969.9M | SLF, ENB, GIB, FTS, CNI |
| Q3 2024 | 65 | $1.1B | SLF, RY, ENB, GIB, TD |
| Q2 2024 | 64 | $1.1B | RY, GIB, SLF, ENB, TD |
| Q1 2024 | 65 | $1.2B | GIB, RY, SLF, ENB, TD |