TD Asset Management Inc
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 10, 2025), TD Asset Management Inc reported 1,230 stock positions worth $123.1 billion. Its top holding was Nvidia (NVDA) at 4.3% of the portfolio, followed by Microsoft (MSFT, 4.0%) and Royal Bank of Canada (RY, 3.8%). Compared with Q2 2025, it opened 97 new positions, sold out of 57, added to 466 and reduced 613. The biggest buy was Apple (AAPL, shares +5%) and the biggest sale SS SPDR S&P 500 ETF Trust-US (SPY, shares −50%).
- Most Recent 13F
- Q2 2026
- Location
- Toronto, A6
- CIK
- 0001056053
- Portfolio Value
- $123.1B (Q3 2025)
- SEC Filing
- 0001193125-25-274586 ↗ filed Nov 10, 2025
Holdings Value
Holdings 1,230 stocks · $123.1B
| NVDA Nvidia Corp. | 4.29% | 28,305,460 | $5.3B | Add +4.5% |
| MSFT Microsoft Corp. | 3.96% | 9,423,005 | $4.9B | Add +0.0% |
| RY Royal Bank of Canada | 3.81% | 31,788,150 | $4.7B | Reduce -0.1% |
| AAPL Apple Inc. | 3.35% | 16,200,743 | $4.1B | Add +4.7% |
| TD Toronto-Dominion Bank | 2.44% | 37,612,007 | $3.0B | Add +0.7% |
| META Meta Platforms Inc. Class A | 2.08% | 3,486,277 | $2.6B | Reduce -4.0% |
| BMO Bank of Montreal filed as BANK MONTREAL QUE | 2.02% | 19,079,026 | $2.5B | Add +10.3% |
| AVGO Broadcom Inc. | 1.99% | 7,423,446 | $2.4B | Add +5.4% |
| ENB Enbridge Inc. | 1.64% | 40,021,291 | $2.0B | Add +0.3% |
| CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BANK OF CO | 1.48% | 22,752,807 | $1.8B | Add +1.1% |
| AMZN Amazon.com Inc. | 1.47% | 8,251,433 | $1.8B | Add +0.8% |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.45% | 2,676,343 | $1.8B | Reduce -49.9% |
| BN Brookfield Corp. | 1.36% | 24,439,087 | $1.7B | Reduce -0.2% |
| JPM JPMorgan Chase & Co. | 1.30% | 5,079,985 | $1.6B | Reduce -0.7% |
| AEM Agnico Eagle Mines Ltd. | 1.30% | 9,500,193 | $1.6B | Add +1.5% |
| GOOGL Alphabet Inc. Class A | 1.22% | 6,194,686 | $1.5B | Add +7.7% |
| CP Canadian Pacific Kansas City | 1.13% | 18,642,229 | $1.4B | Reduce -11.2% |
| SHOP Shopify Inc. Class A | 1.03% | 8,528,510 | $1.3B | Add +1.4% |
| CNQ Canadian Natural Resources | 1.01% | 38,935,264 | $1.2B | Reduce -6.4% |
| BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA HALIFAX | 0.96% | 18,364,021 | $1.2B | Add +1.3% |
| MFC Manulife Financial Corp. | 0.95% | 37,638,463 | $1.2B | Add +5.8% |
| V Visa Inc. Class A | 0.90% | 3,250,383 | $1.1B | Reduce -19.5% |
| CNI Canadian Natl Railway Co. | 0.88% | 11,464,138 | $1.1B | Reduce -5.0% |
| TRP TC Energy Corp. | 0.87% | 19,624,247 | $1.1B | Add +2.9% |
| GOOG Alphabet Inc. Class C | 0.84% | 4,225,087 | $1.0B | Add +1.1% |
| ABBV Abbvie Inc. | 0.80% | 4,258,327 | $986.0M | Add +14.0% |
| SU Suncor Energy Inc. | 0.79% | 23,172,847 | $969.9M | Reduce -9.5% |
| SLF Sun Life Financial Inc. | 0.77% | 15,721,499 | $944.3M | Reduce -0.5% |
| BAM Brookfield Asset Mgmt-A | 0.71% | 15,454,030 | $879.7M | Reduce -0.9% |
| COST Costco Wholesale Corp. | 0.70% | 928,498 | $859.4M | Reduce -15.0% |
| WPM Wheaton Precious Metals Corp. | 0.66% | 7,252,054 | $811.7M | Add +3.5% |
| EFA iShares MSCI Eafe ETF | 0.66% | 8,685,507 | $811.0M | Reduce -4.0% |
| TRI Thomson Reuters Corp. | 0.58% | 4,630,954 | $719.2M | Reduce -18.5% |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | 0.57% | 6,327,844 | $705.4M | Add +2732.9% |
| LLY Eli Lilly & Co. | 0.56% | 906,582 | $691.7M | Reduce -25.3% |
| FTS Fortis Inc. | 0.56% | 13,531,955 | $686.5M | Add +0.4% |
| AXP American Express Co. | 0.55% | 2,039,393 | $677.4M | Reduce -2.5% |
| WCN Waste Connections Inc. | 0.55% | 3,840,804 | $675.3M | Reduce -2.6% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.53% | 4,536,511 | $655.7M | Reduce -3.8% |
| TSLA Tesla Inc. | 0.53% | 1,467,763 | $652.7M | Add +0.2% |
| NFLX Netflix Inc. | 0.53% | 539,330 | $646.6M | Reduce -2.0% |
| B Barrick Mining Corp. | 0.52% | 19,309,335 | $634.3M | Add +3.9% |
| QQQ Invesco QQQ Trust Series 1 | 0.51% | 1,042,185 | $625.7M | Reduce -0.0% |
| BKNG Booking Holdings Inc. | 0.49% | 110,842 | $598.5M | Reduce -0.5% |
| ORCL Oracle Corp. | 0.48% | 2,102,591 | $591.3M | Add +133.6% |
| MCK McKesson Corp. | 0.48% | 764,654 | $590.7M | Add +1.6% |
| TU Telus Corp. | 0.47% | 36,863,219 | $580.7M | Add +1.5% |
| HD Home Depot Inc. | 0.46% | 1,385,853 | $561.5M | Add +18.7% |
| XOM Exxon Mobil Corp. | 0.43% | 4,688,124 | $528.6M | Add +10.0% |
| TMUS T-Mobile US Inc. | 0.43% | 2,201,025 | $526.9M | Add +1.4% |
| MA Mastercard Inc. Class A | 0.41% | 884,512 | $503.1M | Reduce -8.2% |
| HWM Howmet Aerospace Inc. | 0.40% | 2,522,121 | $494.9M | Reduce -1.8% |
| GEV GE Vernova Inc. | 0.40% | 801,083 | $492.6M | Reduce -14.1% |
| KLAC KLA Corp. | 0.39% | 449,030 | $484.3M | Add +0.4% |
| URI United Rentals Inc. | 0.38% | 484,450 | $462.5M | Add +66.5% |
| LNG Cheniere Energy Inc. | 0.37% | 1,932,924 | $454.2M | Reduce -2.9% |
| FNV Franco-Nevada Corp. | 0.37% | 2,030,684 | $452.1M | Add +0.9% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.36% | 869,775 | $437.3M | Add +0.5% |
| MSI Motorola Solutions Inc. | 0.35% | 955,868 | $437.1M | Add +13.5% |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | 0.35% | 5,380,633 | $436.9M | Add +33.8% |
| NTR Nutrien Ltd. | 0.35% | 7,368,861 | $432.8M | Add +16.5% |
| CW Curtiss-Wright Corp. | 0.35% | 791,531 | $429.8M | Add +0.3% |
| HLT Hilton Worldwide Holdings Inc. | 0.34% | 1,616,059 | $419.3M | Add +22.5% |
| ABT Abbott Laboratories | 0.33% | 3,029,374 | $405.8M | Reduce -12.7% |
| IMO Imperial Oil Ltd. | 0.33% | 4,470,358 | $405.4M | Reduce -2.7% |
| EVR Evercore Inc. Class A | 0.32% | 1,182,456 | $398.9M | Add +23.8% |
| MCD McDonald's Corp. | 0.32% | 1,278,893 | $388.6M | Add +3.2% |
| CCJ Cameco Corp. | 0.32% | 4,622,932 | $388.1M | Add +116.7% |
| EZU iShares MSCI Eurozone ETF | 0.31% | 6,220,643 | $385.3M | Reduce -3.0% |
| RSG Republic Services Inc. | 0.31% | 1,667,277 | $382.6M | Reduce -2.1% |
| GILD Gilead Sciences Inc. | 0.31% | 3,424,991 | $380.2M | Add +0.1% |
| EMA Emera Inc. | 0.30% | 7,718,263 | $370.4M | Reduce -0.5% |
| SYK Stryker Corp. | 0.30% | 995,155 | $367.9M | Reduce -13.3% |
| QSR Restaurant Brands Intern | 0.29% | 5,505,861 | $353.3M | Add +0.3% |
| ANET Arista Networks Inc. | 0.29% | 2,418,580 | $352.4M | Reduce -10.2% |
| CRH CRH PLC | 0.27% | 2,758,784 | $330.8M | Add +41.0% |
| QCOM Qualcomm Inc. | 0.27% | 1,962,835 | $326.5M | Reduce -5.9% |
| LRCX Lam Research Corp. | 0.26% | 2,422,589 | $324.4M | Reduce -17.9% |
| ETN Eaton Corp. PLC | 0.26% | 865,757 | $324.0M | Reduce -3.6% |
| TT Trane Technologies PLC | 0.26% | 766,175 | $323.3M | Reduce -29.6% |
| APP AppLovin Corp. Class A | 0.26% | 446,027 | $320.5M | Add +25.4% |
| PGR Progressive Corp. | 0.25% | 1,262,854 | $311.9M | Reduce -24.1% |
| ETR Entergy Corp. | 0.25% | 3,309,909 | $308.5M | Reduce -3.8% |
| PBA Pembina Pipeline Corp. | 0.25% | 7,582,203 | $306.6M | Add +3.9% |
| AMAT Applied Materials Inc. | 0.25% | 1,495,454 | $306.2M | Reduce -2.3% |
| MCO Moody's Corp. | 0.24% | 616,209 | $293.6M | Reduce -3.3% |
| UBER Uber Technologies Inc. | 0.24% | 2,969,950 | $291.0M | Add +8.1% |
| RCI Rogers Communications Inc. Class B | 0.23% | 8,344,925 | $287.3M | Add +18.0% |
| JNJ Johnson & Johnson | 0.23% | 1,523,132 | $282.4M | Reduce -1.8% |
| CVE Cenovus Energy Inc. | 0.23% | 16,399,941 | $278.5M | Reduce -27.9% |
| GE General Electric filed as GE AEROSPACE | 0.22% | 911,033 | $274.1M | Add +8.3% |
| DE Deere & Co. | 0.22% | 594,899 | $272.0M | Reduce -17.6% |
| WMT Walmart Inc. | 0.22% | 2,618,389 | $269.9M | Add +4.4% |
| YUM Yum! Brands Inc. | 0.21% | 1,725,699 | $262.3M | Reduce -1.5% |
| APH Amphenol Corp. Class A | 0.20% | 1,988,169 | $246.0M | Reduce -33.3% |
| MGA Magna International Inc. | 0.20% | 5,129,404 | $243.1M | Add +5.5% |
| ORLY O'reilly Automotive Inc. | 0.20% | 2,237,099 | $241.2M | Add +3.6% |
| HCA HCA Healthcare Inc. | 0.19% | 562,244 | $239.6M | Reduce -2.7% |
| ULTA Ulta Beauty Inc. | 0.19% | 432,497 | $236.5M | Reduce -13.1% |
| CL Colgate-Palmolive Co. | 0.19% | 2,911,008 | $232.7M | Reduce -17.7% |
Other holdings (5): bonds, preferreds, convertibles and warrants · $2.1M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| BRUKER CORP (BRKR 6.375 09/01/28) | 6.375 PREF SER A | 6,864 | $1.9M | New |
| IAUX.WS I-80 Gold Corp. -26 | *W EXP 11/16/202 | 400,000 | $180K | New |
| RVMDW Revolution Medicines Inc.-28 | *W EXP 12/17/202 | 40,636 | $12K | No change |
| WGSWW Genedx Holdings Corp. | *W EXP 07/22/202 | 34,884 | $4K | No change |
| SONWQ Gores Metropoulos II -CW28 | *W EXP 01/18/202 | 180,000 | $2K | No change |
Total filed on the 13F, all lines: $123.1B.
Portfolio Sells Q2 2025 → Q3 2025
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -49.9% | 1.45% | −1.37 |
| TRI Thomson Reuters Corp. | Reduce -18.5% | 0.58% | −0.39 |
| V Visa Inc. Class A | Reduce -19.5% | 0.90% | −0.32 |
| CP Canadian Pacific Kansas City | Reduce -11.2% | 1.13% | −0.29 |
| SAP Sap SE-Sponsored ADR | Reduce -66.3% | 0.11% | −0.28 |
| LLY Eli Lilly & Co. | Reduce -25.3% | 0.56% | −0.25 |
| COST Costco Wholesale Corp. | Reduce -15.0% | 0.70% | −0.22 |
| VRSK Verisk Analytics Inc. | Reduce -51.9% | 0.13% | −0.22 |
| META Meta Platforms Inc. Class A | Reduce -4.0% | 2.08% | −0.21 |
| CNI Canadian Natl Railway Co. | Reduce -5.0% | 0.88% | −0.19 |
| TT Trane Technologies PLC | Reduce -29.6% | 0.26% | −0.14 |
| TW Tradeweb Markets Inc. Class A | Reduce -30.9% | 0.14% | −0.14 |
| SLF Sun Life Financial Inc. | Reduce -0.5% | 0.77% | −0.13 |
| PGR Progressive Corp. | Reduce -24.1% | 0.25% | −0.13 |
| UNP Union Pacific Corp. | Reduce -54.5% | 0.10% | −0.13 |
| AJG Arthur J Gallagher & Co. | Reduce -50.4% | 0.10% | −0.12 |
| PAYX Paychex Inc. | Reduce -47.0% | 0.09% | −0.11 |
| VRTX Vertex Pharmaceuticals Inc. | Reduce -53.2% | 0.07% | −0.11 |
| ADBE Adobe Inc. | Reduce -43.7% | 0.10% | −0.11 |
| NFLX Netflix Inc. | Reduce -2.0% | 0.53% | −0.10 |
| CNQ Canadian Natural Resources | Reduce -6.4% | 1.01% | −0.10 |
| EWJ iShares MSCI Japan ETF | Reduce -37.0% | 0.17% | −0.10 |
| PG The Procter & Gamble Co. | Reduce -27.2% | 0.19% | −0.09 |
| DE Deere & Co. | Reduce -17.6% | 0.22% | −0.09 |
| SYK Stryker Corp. | Reduce -13.3% | 0.30% | −0.09 |
| CL Colgate-Palmolive Co. | Reduce -17.7% | 0.19% | −0.09 |
| WCN Waste Connections Inc. | Reduce -2.6% | 0.55% | −0.08 |
| ABT Abbott Laboratories | Reduce -12.7% | 0.33% | −0.07 |
| CTAS Cintas Corp. | Reduce -42.8% | 0.07% | −0.07 |
| MEDP Medpace Holdings Inc. | Reduce -72.0% | 0.05% | −0.07 |
| TXRH Texas Roadhouse Inc. | Reduce -51.2% | 0.05% | −0.06 |
| BKNG Booking Holdings Inc. | Reduce -0.5% | 0.49% | −0.06 |
| GIB Cgi Inc. | Reduce -11.7% | 0.15% | −0.06 |
| MA Mastercard Inc. Class A | Reduce -8.2% | 0.41% | −0.05 |
| GLD SPDR Gold Shares | Reduce -36.1% | 0.13% | −0.05 |
| CRM Salesforce Inc. | Reduce -13.8% | 0.13% | −0.05 |
| TRGP Targa Resources Corp. | Reduce -48.0% | 0.05% | −0.05 |
| APH Amphenol Corp. Class A | Reduce -33.3% | 0.20% | −0.05 |
| RSG Republic Services Inc. | Reduce -2.1% | 0.31% | −0.05 |
| ISRG Intuitive Surgical Inc. | Reduce -4.0% | 0.14% | −0.05 |
| LNG Cheniere Energy Inc. | Reduce -2.9% | 0.37% | −0.04 |
| IT Gartner Inc. | Reduce -52.4% | 0.02% | −0.04 |
| BSX Boston Scientific Corp. | Reduce -8.5% | 0.16% | −0.04 |
| FICO Fair Isaac Corp. | Reduce -67.8% | 0.01% | −0.04 |
| FTNT Fortinet Inc. | Reduce -17.5% | 0.07% | −0.04 |
| VNOM Viper Energy Inc. | Sold out | 0.00% | −0.04 |
| AMP Ameriprise Financial Inc. | Reduce -7.1% | 0.17% | −0.04 |
| KVUE Kenvue Inc. | Reduce -72.8% | 0.01% | −0.04 |
| BCE Bce Inc. | Reduce -22.8% | 0.13% | −0.04 |
| POOL Pool Corp. | Reduce -94.5% | 0.00% | −0.04 |
Portfolio Buys Q2 2025 → Q3 2025
| AAPL Apple Inc. | Add +4.7% | 3.35% | +0.64 |
| NVDA Nvidia Corp. | Add +4.5% | 4.29% | +0.64 |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | Add +2732.9% | 0.57% | +0.55 |
| BMO Bank of Montreal | Add +10.3% | 2.02% | +0.39 |
| GOOGL Alphabet Inc. Class A | Add +7.7% | 1.22% | +0.36 |
| AEM Agnico Eagle Mines Ltd. | Add +1.5% | 1.30% | +0.35 |
| AVGO Broadcom Inc. | Add +5.4% | 1.99% | +0.33 |
| ORCL Oracle Corp. | Add +133.6% | 0.48% | +0.31 |
| ABBV Abbvie Inc. | Add +14.0% | 0.80% | +0.21 |
| SHOP Shopify Inc. Class A | Add +1.4% | 1.03% | +0.20 |
| GOOG Alphabet Inc. Class C | Add +1.1% | 0.84% | +0.20 |
| URI United Rentals Inc. | Add +66.5% | 0.38% | +0.19 |
| B Barrick Mining Corp. | Add +3.9% | 0.52% | +0.19 |
| CCJ Cameco Corp. | Add +116.7% | 0.32% | +0.18 |
| APP AppLovin Corp. Class A | Add +25.4% | 0.26% | +0.15 |
| RCL Royal Caribbean Cruises Ltd. | Add +560.9% | 0.18% | +0.15 |
| TSLA Tesla Inc. | Add +0.2% | 0.53% | +0.13 |
| IBKR Interactive Brokers Gro Class A | Add +2098.6% | 0.13% | +0.12 |
| WPM Wheaton Precious Metals Corp. | Add +3.5% | 0.66% | +0.12 |
| CM Can Imperial BK of Commerce | Add +1.1% | 1.48% | +0.12 |
| CRH CRH PLC | Add +41.0% | 0.27% | +0.12 |
| DHI D.R. Horton Inc. | Add +769.3% | 0.12% | +0.11 |
| BNS Bank of Nova Scotia | Add +1.3% | 0.96% | +0.11 |
| EVR Evercore Inc. Class A | Add +23.8% | 0.32% | +0.10 |
| TD Toronto-Dominion Bank | Add +0.7% | 2.44% | +0.10 |
| ENB Enbridge Inc. | Add +0.3% | 1.64% | +0.10 |
| GLW Corning Inc. | Add +165.1% | 0.13% | +0.10 |
| HD Home Depot Inc. | Add +18.7% | 0.46% | +0.09 |
| FNV Franco-Nevada Corp. | Add +0.9% | 0.37% | +0.09 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | Add +33.8% | 0.35% | +0.08 |
| TRP TC Energy Corp. | Add +2.9% | 0.87% | +0.07 |
| PH Parker Hannifin Corp. | Add +60.7% | 0.15% | +0.06 |
| EOG EOG Resources Inc. | Add +288.1% | 0.08% | +0.06 |
| KGC Kinross Gold Corp. | Add +30.5% | 0.11% | +0.06 |
| RCI Rogers Communications Inc. Class B | Add +18.0% | 0.23% | +0.05 |
| MSI Motorola Solutions Inc. | Add +13.5% | 0.35% | +0.05 |
| IBP Installed Building Products | Add +2169.2% | 0.05% | +0.05 |
| KLAC KLA Corp. | Add +0.4% | 0.39% | +0.05 |
| EWY iShares MSCI South Korea ETF | Add +85.5% | 0.10% | +0.05 |
| PLTR Palantir Technologies Inc. Class A | Add +9.5% | 0.17% | +0.05 |
| TSM Taiwan Semiconductor-SP ADR | Add +16.4% | 0.16% | +0.04 |
| HLT Hilton Worldwide Holdings Inc. | Add +22.5% | 0.34% | +0.04 |
| WST West Pharmaceutical Services | Add +26.1% | 0.13% | +0.04 |
| GE General Electric | Add +8.3% | 0.22% | +0.04 |
| NTR Nutrien Ltd. | Add +16.5% | 0.35% | +0.04 |
| MGA Magna International Inc. | Add +5.5% | 0.20% | +0.04 |
| XOM Exxon Mobil Corp. | Add +10.0% | 0.43% | +0.04 |
| VNOM Viper Energy Inc. Class A | New | 0.03% | +0.03 |
| MGY Magnolia Oil & Gas Corp. Class A | Add +55.7% | 0.09% | +0.03 |
| ORLY O'reilly Automotive Inc. | Add +3.6% | 0.20% | +0.03 |
Notes & Other Activity Q2 2025 → Q3 2025
| BRUKER CORP (BRKR 6.375 09/01/28) | 6.375 PREF SER A | New | 6,864 | $1.9M |
| IAUX.WS I-80 Gold Corp. -26 | *W EXP 11/16/202 | New | 400,000 | $180K |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 1,211 | $115.4B | NVDA, RY, AAPL, TD, BMO |
| Q1 2026 | 1,225 | $123.2B | NVDA, RY, AAPL, TD, MSFT |
| Q4 2025 | 1,227 | $124.3B | RY, NVDA, AAPL, MSFT, TD |
| Q3 2025 | 1,230 | $123.1B | NVDA, MSFT, RY, AAPL, TD |
| Q2 2025 | 1,190 | $117.2B | MSFT, NVDA, RY, SPY, AAPL |
| Q1 2025 | 1,213 | $108.6B | AAPL, RY, SPY, MSFT, NVDA |
| Q4 2024 | 1,239 | $113.0B | AAPL, MSFT, SPY, RY, NVDA |
| Q3 2024 | 1,378 | $113.3B | MSFT, AAPL, RY, SPY, NVDA |
| Q2 2024 | 1,354 | $107.2B | MSFT, SPY, NVDA, AAPL, RY |
| Q1 2024 | 1,372 | $107.5B | MSFT, SPY, RY, NVDA, AAPL |