QV Investors Inc.
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 30, 2025), QV Investors Inc. reported 63 stock positions worth $1.2 billion. Its top holding was Cgi (GIB) at 5.9% of the portfolio, followed by Royal Bank of Canada (RY, 5.8%) and Sun Life Financial (SLF, 5.2%). Compared with Q2 2025, it opened 8 new positions, sold out of 8, added to 12 and reduced 21. The biggest buy was a new position in Enbridge (ENB) and the biggest sale an exit from Canadian Pacific Kansas City (CP).
- Most Recent 13F
- Q2 2026
- Location
- CALGARY, A0
- CIK
- 0001570253
- Portfolio Value
- $1.2B (Q3 2025)
- SEC Filing
- 0001570253-25-000008 ↗ filed Oct 30, 2025
Holdings Value
Holdings 63 stocks · $1.2B
| GIB Cgi Inc. | 5.87% | 761,925 | $67.9M | Add +11.5% |
| RY Royal Bank of Canada | 5.79% | 453,499 | $66.9M | Reduce -0.9% |
| SLF Sun Life Financial Inc. | 5.21% | 1,002,763 | $60.2M | Reduce -16.1% |
| ENB Enbridge Inc. | 5.15% | 1,179,521 | $59.5M | New |
| CNI Canadian Natl Railway Co. | 4.78% | 585,546 | $55.2M | Reduce -0.9% |
| FNV Franco-Nevada Corp. | 4.70% | 244,138 | $54.4M | Reduce -0.9% |
| FTS Fortis Inc. | 4.26% | 969,681 | $49.2M | Reduce -8.9% |
| EMA Emera Inc. | 3.58% | 861,535 | $41.3M | Reduce -10.2% |
| TD Toronto-Dominion Bank | 3.51% | 507,584 | $40.6M | New |
| TFII Tfi International Inc. | 3.36% | 441,478 | $38.9M | Add +25.1% |
| RBA RB Global Inc. | 3.17% | 338,033 | $36.6M | Reduce -18.3% |
| RCI Rogers Communications Inc. Class B | 2.79% | 935,789 | $32.2M | Add +58.8% |
| MGA Magna International Inc. | 2.65% | 645,413 | $30.6M | Reduce -0.9% |
| DOO BRP Inc./Ca- Sub Voting | 2.54% | 482,623 | $29.4M | New |
| TIXT Telus International Cda Inc. | 2.35% | 6,089,995 | $27.2M | Reduce -20.0% |
| JNJ Johnson & Johnson | 2.25% | 140,390 | $26.0M | Add +38.7% |
| PEP Pepsico Inc. | 1.86% | 153,015 | $21.5M | Add +30.5% |
| GOOGL Alphabet Inc. Class A | 1.86% | 88,370 | $21.5M | No change |
| BN Brookfield Corp. | 1.81% | 305,167 | $20.9M | New |
| IMO Imperial Oil Ltd. | 1.72% | 219,340 | $19.9M | New |
| CNQ Canadian Natural Resources | 1.72% | 621,867 | $19.9M | Reduce -0.9% |
| UNH Unitedhealth Group Inc. | 1.55% | 51,794 | $17.9M | Add +77.7% |
| STN Stantec Inc. | 1.50% | 161,025 | $17.4M | Reduce -10.6% |
| UNP Union Pacific Corp. | 1.50% | 73,261 | $17.3M | Add +38.9% |
| UL Unilever PLC | 1.50% | 291,784 | $17.3M | Add +59.0% |
| SOLV Solventum Corp. | 1.49% | 235,082 | $17.2M | Add +15.0% |
| AMZN Amazon.com Inc. | 1.42% | 74,850 | $16.4M | Reduce -6.5% |
| BAM Brookfield Asset Mgmt-A | 1.33% | 269,058 | $15.3M | Reduce -21.5% |
| THO Thor Industries Inc. | 1.20% | 133,546 | $13.8M | Reduce -26.2% |
| CNC Centene Corp. | 1.12% | 361,722 | $12.9M | Add +21.8% |
| DG Dollar General Corp. | 1.11% | 123,690 | $12.8M | Reduce -27.2% |
| NVO Novo-Nordisk A/S-Spons ADR | 1.07% | 223,158 | $12.4M | Add +77.0% |
| AZO AutoZone Inc. | 1.07% | 2,880 | $12.4M | No change |
| AMAT Applied Materials Inc. | 1.05% | 59,070 | $12.1M | Reduce -27.4% |
| MRK Merck & Co. Inc. | 1.02% | 140,737 | $11.8M | No change |
| BABA Alibaba Group Holding-SP ADR | 0.95% | 61,427 | $11.0M | Reduce -12.0% |
| HCC Warrior Met Coal Inc. | 0.91% | 165,760 | $10.5M | New |
| OZK Bank Ozk | 0.81% | 183,750 | $9.4M | Reduce -16.1% |
| EOG EOG Resources Inc. | 0.75% | 77,225 | $8.7M | No change |
| EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC | 0.64% | 84,230 | $7.4M | New |
| SBUX Starbucks Corp. | 0.62% | 84,970 | $7.2M | No change |
| DRI Darden Restaurants Inc. | 0.54% | 32,682 | $6.2M | No change |
| CMI Cummins Inc. | 0.52% | 14,305 | $6.0M | No change |
| BRK.B Berkshire Hathaway Inc. Class B | 0.49% | 11,311 | $5.7M | No change |
| NRC NRC Health filed as NATIONAL RESH CORP | 0.42% | 381,310 | $4.9M | No change |
| PCAR Paccar Inc. | 0.42% | 49,020 | $4.8M | No change |
| ROST Ross Stores Inc. | 0.40% | 30,690 | $4.7M | No change |
| JPM JPMorgan Chase & Co. | 0.38% | 13,965 | $4.4M | Reduce -33.0% |
| XOM Exxon Mobil Corp. | 0.37% | 38,161 | $4.3M | No change |
| MMM 3M Co. | 0.36% | 27,000 | $4.2M | No change |
| HD Home Depot Inc. | 0.34% | 9,777 | $4.0M | No change |
| CVX Chevron Corp. | 0.33% | 24,907 | $3.9M | No change |
| AXP American Express Co. | 0.30% | 10,500 | $3.5M | No change |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.30% | 30,080 | $3.4M | Reduce -24.8% |
| MU Micron Technology Inc. | 0.27% | 18,455 | $3.1M | No change |
| LII Lennox International Inc. | 0.23% | 5,089 | $2.7M | No change |
| MCK McKesson Corp. | 0.22% | 3,229 | $2.5M | No change |
| OGS One Gas Inc. | 0.10% | 14,030 | $1.1M | No change |
| AFL Aflac Inc. | 0.10% | 10,050 | $1.1M | Reduce -49.9% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.09% | 20,720 | $1.1M | No change |
| HAE Haemonetics Corp. | 0.09% | 21,870 | $1.1M | Add +51.5% |
| XPEL Xpel Inc. | 0.09% | 31,650 | $1.0M | No change |
| VNOM Viper Energy Inc. Class A | 0.08% | 23,005 | $879K | New |
Portfolio Sells Q2 2025 → Q3 2025
| CP Canadian Pacific Kansas City | Sold out | 0.00% | −4.31 |
| SLF Sun Life Financial Inc. | Reduce -16.1% | 5.21% | −2.57 |
| NTR Nutrien Ltd. | Sold out | 0.00% | −1.79 |
| CNI Canadian Natl Railway Co. | Reduce -0.9% | 4.78% | −1.25 |
| HRL Hormel Foods Corp. | Sold out | 0.00% | −1.23 |
| RBA RB Global Inc. | Reduce -18.3% | 3.17% | −1.13 |
| DG Dollar General Corp. | Reduce -27.2% | 1.11% | −0.80 |
| EMA Emera Inc. | Reduce -10.2% | 3.58% | −0.72 |
| FTS Fortis Inc. | Reduce -8.9% | 4.26% | −0.72 |
| BAM Brookfield Asset Mgmt-A | Reduce -21.5% | 1.33% | −0.53 |
| STN Stantec Inc. | Reduce -10.6% | 1.50% | −0.41 |
| AMAT Applied Materials Inc. | Reduce -27.4% | 1.05% | −0.41 |
| NFLX Netflix Inc. | Sold out | 0.00% | −0.41 |
| THO Thor Industries Inc. | Reduce -26.2% | 1.20% | −0.38 |
| ORCL Oracle Corp. | Sold out | 0.00% | −0.38 |
| TIXT Telus International Cda Inc. | Reduce -20.0% | 2.35% | −0.36 |
| AMZN Amazon.com Inc. | Reduce -6.5% | 1.42% | −0.30 |
| WFC Wells Fargo & Co. | Sold out | 0.00% | −0.27 |
| JPM JPMorgan Chase & Co. | Reduce -33.0% | 0.38% | −0.21 |
| CNQ Canadian Natural Resources | Reduce -0.9% | 1.72% | −0.21 |
| OZK Bank Ozk | Reduce -16.1% | 0.81% | −0.20 |
| DIS The Walt Disney Co. | Reduce -24.8% | 0.30% | −0.19 |
| NVEE NV5 Global Inc. | Sold out | 0.00% | −0.14 |
| RY Royal Bank of Canada | Reduce -0.9% | 5.79% | −0.12 |
| AFL Aflac Inc. | Reduce -49.9% | 0.10% | −0.11 |
| STR Sitio Royalties Corp. Class A | Sold out | 0.00% | −0.09 |
| BABA Alibaba Group Holding-SP ADR | Reduce -12.0% | 0.95% | +0.17 |
| MGA Magna International Inc. | Reduce -0.9% | 2.65% | +0.18 |
| FNV Franco-Nevada Corp. | Reduce -0.9% | 4.70% | +0.74 |
Portfolio Buys Q2 2025 → Q3 2025
| ENB Enbridge Inc. | New | 5.15% | +5.15 |
| TD Toronto-Dominion Bank | New | 3.51% | +3.51 |
| DOO BRP Inc./Ca- Sub Voting | New | 2.54% | +2.54 |
| BN Brookfield Corp. | New | 1.81% | +1.81 |
| IMO Imperial Oil Ltd. | New | 1.72% | +1.72 |
| RCI Rogers Communications Inc. Class B | Add +58.8% | 2.79% | +1.08 |
| HCC Warrior Met Coal Inc. | New | 0.91% | +0.91 |
| JNJ Johnson & Johnson | Add +38.7% | 2.25% | +0.74 |
| UNH Unitedhealth Group Inc. | Add +77.7% | 1.55% | +0.66 |
| EL Estee Lauder Companies Class A | New | 0.64% | +0.64 |
| UL Unilever PLC | Add +59.0% | 1.50% | +0.40 |
| PEP Pepsico Inc. | Add +30.5% | 1.86% | +0.34 |
| UNP Union Pacific Corp. | Add +38.9% | 1.50% | +0.31 |
| TFII Tfi International Inc. | Add +25.1% | 3.36% | +0.26 |
| NVO Novo-Nordisk A/S-Spons ADR | Add +77.0% | 1.07% | +0.22 |
| VNOM Viper Energy Inc. Class A | New | 0.08% | +0.08 |
| HAE Haemonetics Corp. | Add +51.5% | 0.09% | −0.01 |
| SOLV Solventum Corp. | Add +15.0% | 1.49% | −0.04 |
| CNC Centene Corp. | Add +21.8% | 1.12% | −0.46 |
| GIB Cgi Inc. | Add +11.5% | 5.87% | −1.15 |
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 |