QV Investors Inc.
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 31, 2025), QV Investors Inc. reported 63 stock positions worth $1.0 billion. Its top holding was Sun Life Financial (SLF) at 7.8% of the portfolio, followed by Cgi (GIB, 7.0%) and Canadian Natl Railway (CNI, 6.0%). Compared with Q1 2025, it opened 2 new positions, sold out of 4, added to 42 and reduced 16. The biggest buy was a new position in Emera (EMA) and the biggest sale an exit from Enbridge (ENB).
- Most Recent 13F
- Q2 2026
- Location
- CALGARY, A0
- CIK
- 0001570253
- Portfolio Value
- $1.0B (Q2 2025)
- SEC Filing
- 0001570253-25-000007 ↗ filed Jul 31, 2025
Holdings Value
Holdings 63 stocks · $1.0B
| SLF Sun Life Financial Inc. | 7.78% | 1,194,699 | $79.3M | Reduce -10.1% |
| GIB Cgi Inc. | 7.03% | 683,472 | $71.6M | Add +13.0% |
| CNI Canadian Natl Railway Co. | 6.03% | 590,955 | $61.5M | Add +16.9% |
| RY Royal Bank of Canada | 5.91% | 457,766 | $60.2M | Add +0.8% |
| FTS Fortis Inc. | 4.97% | 1,064,121 | $50.7M | Add +0.8% |
| CP Canadian Pacific Kansas City | 4.31% | 553,890 | $43.9M | Add +25.0% |
| RBA RB Global Inc. | 4.30% | 413,817 | $43.9M | Add +0.7% |
| EMA Emera Inc. | 4.30% | 959,314 | $43.9M | New |
| FNV Franco-Nevada Corp. | 3.96% | 246,397 | $40.4M | Add +0.7% |
| TFII Tfi International Inc. | 3.10% | 352,781 | $31.6M | Add +0.8% |
| TIXT Telus International Cda Inc. | 2.71% | 7,614,325 | $27.6M | Add +25.8% |
| MGA Magna International Inc. | 2.46% | 651,377 | $25.1M | Add +0.6% |
| CNQ Canadian Natural Resources | 1.93% | 627,619 | $19.7M | Add +0.6% |
| STN Stantec Inc. | 1.92% | 180,085 | $19.6M | Reduce -3.7% |
| DG Dollar General Corp. | 1.91% | 169,960 | $19.4M | Add +19.1% |
| BAM Brookfield Asset Mgmt-A | 1.86% | 342,681 | $18.9M | Reduce -15.9% |
| NTR Nutrien Ltd. | 1.79% | 314,643 | $18.3M | Add +0.8% |
| AMZN Amazon.com Inc. | 1.72% | 80,070 | $17.6M | Reduce -2.1% |
| RCI Rogers Communications Inc. Class B | 1.71% | 589,161 | $17.4M | New |
| CNC Centene Corp. | 1.58% | 297,042 | $16.1M | Add +13.3% |
| THO Thor Industries Inc. | 1.58% | 181,066 | $16.1M | Add +108.0% |
| GOOGL Alphabet Inc. Class A | 1.53% | 88,370 | $15.6M | Reduce -2.6% |
| SOLV Solventum Corp. | 1.52% | 204,392 | $15.5M | Reduce -2.6% |
| PEP Pepsico Inc. | 1.52% | 117,255 | $15.5M | Add +0.4% |
| JNJ Johnson & Johnson | 1.52% | 101,240 | $15.5M | Add +0.6% |
| AMAT Applied Materials Inc. | 1.46% | 81,340 | $14.9M | Add +60.3% |
| HRL Hormel Foods Corp. | 1.23% | 414,710 | $12.5M | Add +72.5% |
| UNP Union Pacific Corp. | 1.19% | 52,731 | $12.1M | Reduce -1.7% |
| UL Unilever PLC | 1.10% | 183,454 | $11.2M | Reduce -13.4% |
| MRK Merck & Co. Inc. | 1.09% | 140,737 | $11.1M | Add +35.5% |
| AZO AutoZone Inc. | 1.05% | 2,880 | $10.7M | Reduce -1.0% |
| OZK Bank Ozk | 1.01% | 219,080 | $10.3M | Add +18.0% |
| EOG EOG Resources Inc. | 0.91% | 77,225 | $9.2M | Reduce -2.9% |
| UNH Unitedhealth Group Inc. | 0.89% | 29,154 | $9.1M | Reduce -4.2% |
| NVO Novo-Nordisk A/S-Spons ADR | 0.85% | 126,114 | $8.7M | Add +1539.1% |
| BABA Alibaba Group Holding-SP ADR | 0.78% | 69,837 | $7.9M | Reduce -12.8% |
| SBUX Starbucks Corp. | 0.76% | 84,970 | $7.8M | Reduce -1.6% |
| DRI Darden Restaurants Inc. | 0.70% | 32,682 | $7.1M | Reduce -37.7% |
| NRC NRC Health filed as NATIONAL RESH CORP | 0.63% | 381,310 | $6.4M | Add +7.6% |
| JPM JPMorgan Chase & Co. | 0.59% | 20,835 | $6.0M | Add +0.7% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.54% | 11,311 | $5.5M | Add +0.6% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.49% | 40,010 | $5.0M | Add +0.7% |
| CMI Cummins Inc. | 0.46% | 14,305 | $4.7M | Add +0.6% |
| PCAR Paccar Inc. | 0.46% | 49,020 | $4.7M | Add +0.7% |
| NFLX Netflix Inc. | 0.41% | 3,100 | $4.2M | Reduce -1.9% |
| XOM Exxon Mobil Corp. | 0.40% | 38,161 | $4.1M | Add +0.7% |
| MMM 3M Co. | 0.40% | 27,000 | $4.1M | Reduce -71.1% |
| ROST Ross Stores Inc. | 0.38% | 30,690 | $3.9M | Add +0.7% |
| ORCL Oracle Corp. | 0.38% | 17,635 | $3.9M | Add +0.7% |
| HD Home Depot Inc. | 0.35% | 9,777 | $3.6M | Add +0.6% |
| CVX Chevron Corp. | 0.35% | 24,907 | $3.6M | Add +0.7% |
| AXP American Express Co. | 0.33% | 10,500 | $3.3M | Add +0.7% |
| LII Lennox International Inc. | 0.29% | 5,089 | $2.9M | Add +0.6% |
| WFC Wells Fargo & Co. | 0.27% | 34,497 | $2.8M | Add +0.7% |
| MCK McKesson Corp. | 0.23% | 3,229 | $2.4M | Add +0.6% |
| MU Micron Technology Inc. | 0.22% | 18,455 | $2.3M | Add +0.7% |
| AFL Aflac Inc. | 0.21% | 20,050 | $2.1M | Add +0.7% |
| NVEE NV5 Global Inc. | 0.14% | 62,700 | $1.4M | Add +8.7% |
| XPEL Xpel Inc. | 0.11% | 31,650 | $1.1M | No change |
| HAE Haemonetics Corp. | 0.11% | 14,440 | $1.1M | Add +28.5% |
| OGS One Gas Inc. | 0.10% | 14,030 | $1.0M | No change |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.10% | 20,720 | $980K | Add +0.7% |
| STR Sitio Royalties Corp. Class A | 0.09% | 47,386 | $871K | No change |
Portfolio Sells Q1 2025 → Q2 2025
| ENB Enbridge Inc. | Sold out | 0.00% | −6.84 |
| TD Toronto-Dominion Bank | Sold out | 0.00% | −3.43 |
| BN Brookfield Corp. | Sold out | 0.00% | −1.98 |
| DOO BRP Inc./Ca- Sub Voting | Sold out | 0.00% | −1.47 |
| MMM 3M Co. | Reduce -71.1% | 0.40% | −0.98 |
| UNH Unitedhealth Group Inc. | Reduce -4.2% | 0.89% | −0.72 |
| DRI Darden Restaurants Inc. | Reduce -37.7% | 0.70% | −0.40 |
| BABA Alibaba Group Holding-SP ADR | Reduce -12.8% | 0.78% | −0.29 |
| UL Unilever PLC | Reduce -13.4% | 1.10% | −0.17 |
| BAM Brookfield Asset Mgmt-A | Reduce -15.9% | 1.86% | −0.14 |
| EOG EOG Resources Inc. | Reduce -2.9% | 0.91% | −0.12 |
| SBUX Starbucks Corp. | Reduce -1.6% | 0.76% | −0.09 |
| SOLV Solventum Corp. | Reduce -2.6% | 1.52% | −0.09 |
| UNP Union Pacific Corp. | Reduce -1.7% | 1.19% | −0.09 |
| AZO AutoZone Inc. | Reduce -1.0% | 1.05% | −0.07 |
| SLF Sun Life Financial Inc. | Reduce -10.1% | 7.78% | +0.10 |
| NFLX Netflix Inc. | Reduce -1.9% | 0.41% | +0.11 |
| GOOGL Alphabet Inc. Class A | Reduce -2.6% | 1.53% | +0.11 |
| AMZN Amazon.com Inc. | Reduce -2.1% | 1.72% | +0.15 |
| STN Stantec Inc. | Reduce -3.7% | 1.92% | +0.35 |
Portfolio Buys Q1 2025 → Q2 2025
| EMA Emera Inc. | New | 4.30% | +4.30 |
| RCI Rogers Communications Inc. Class B | New | 1.71% | +1.71 |
| CP Canadian Pacific Kansas City | Add +25.0% | 4.31% | +1.17 |
| TIXT Telus International Cda Inc. | Add +25.8% | 2.71% | +1.07 |
| CNI Canadian Natl Railway Co. | Add +16.9% | 6.03% | +1.06 |
| GIB Cgi Inc. | Add +13.0% | 7.03% | +0.93 |
| THO Thor Industries Inc. | Add +108.0% | 1.58% | +0.91 |
| NVO Novo-Nordisk A/S-Spons ADR | Add +1539.1% | 0.85% | +0.80 |
| RY Royal Bank of Canada | Add +0.8% | 5.91% | +0.74 |
| AMAT Applied Materials Inc. | Add +60.3% | 1.46% | +0.72 |
| DG Dollar General Corp. | Add +19.1% | 1.91% | +0.64 |
| HRL Hormel Foods Corp. | Add +72.5% | 1.23% | +0.48 |
| TFII Tfi International Inc. | Add +0.8% | 3.10% | +0.36 |
| MGA Magna International Inc. | Add +0.6% | 2.46% | +0.24 |
| NTR Nutrien Ltd. | Add +0.8% | 1.79% | +0.23 |
| OZK Bank Ozk | Add +18.0% | 1.01% | +0.20 |
| NRC NRC Health | Add +7.6% | 0.63% | +0.17 |
| MRK Merck & Co. Inc. | Add +35.5% | 1.09% | +0.15 |
| RBA RB Global Inc. | Add +0.7% | 4.30% | +0.14 |
| ORCL Oracle Corp. | Add +0.7% | 0.38% | +0.13 |
| FTS Fortis Inc. | Add +0.8% | 4.97% | +0.12 |
| DIS The Walt Disney Co. | Add +0.7% | 0.49% | +0.09 |
| JPM JPMorgan Chase & Co. | Add +0.7% | 0.59% | +0.08 |
| FNV Franco-Nevada Corp. | Add +0.7% | 3.96% | +0.07 |
| MU Micron Technology Inc. | Add +0.7% | 0.22% | +0.06 |
| AXP American Express Co. | Add +0.7% | 0.33% | +0.05 |
| HAE Haemonetics Corp. | Add +28.5% | 0.11% | +0.03 |
| NVEE NV5 Global Inc. | Add +8.7% | 0.14% | +0.03 |
| WFC Wells Fargo & Co. | Add +0.7% | 0.27% | +0.02 |
| MCK McKesson Corp. | Add +0.6% | 0.23% | +0.01 |
| CMI Cummins Inc. | Add +0.6% | 0.46% | +0.01 |
| BAC Bank of America Corp. | Add +0.7% | 0.10% | +0.01 |
| LII Lennox International Inc. | Add +0.6% | 0.29% | −0.00 |
| CNQ Canadian Natural Resources | Add +0.6% | 1.93% | −0.01 |
| HD Home Depot Inc. | Add +0.6% | 0.35% | −0.01 |
| ROST Ross Stores Inc. | Add +0.7% | 0.38% | −0.01 |
| AFL Aflac Inc. | Add +0.7% | 0.21% | −0.02 |
| PCAR Paccar Inc. | Add +0.7% | 0.46% | −0.02 |
| CNC Centene Corp. | Add +13.3% | 1.58% | −0.03 |
| XOM Exxon Mobil Corp. | Add +0.7% | 0.40% | −0.05 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +0.6% | 0.54% | −0.07 |
| CVX Chevron Corp. | Add +0.7% | 0.35% | −0.07 |
| JNJ Johnson & Johnson | Add +0.6% | 1.52% | −0.17 |
| PEP Pepsico Inc. | Add +0.4% | 1.52% | −0.25 |
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 |