TD Waterhouse Canada Inc.
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 11, 2025), TD Waterhouse Canada Inc. reported 1,987 stock positions worth $14.0 billion. Its top holding was Royal Bank of Canada (RY) at 5.1% of the portfolio, followed by Toronto-Dominion Bank (TD, 5.0%) and Microsoft (MSFT, 3.3%). Compared with Q1 2025, it opened 177 new positions, sold out of 134, added to 712 and reduced 511. The biggest buy was a new position in Emera (EMA) and the biggest sale Apple (AAPL, shares −1%).
- Most Recent 13F
- Q2 2026
- Location
- TORONTO, A6
- CIK
- 0001999606
- Portfolio Value
- $14.0B (Q2 2025)
- SEC Filing
- 0002052595-25-000038 ↗ filed Aug 11, 2025
Holdings Value
Holdings 1,987 stocks · $14.0B
| RY Royal Bank of Canada | 5.13% | 5,420,397 | $715.8M | Add +0.9% |
| TD Toronto-Dominion Bank | 4.98% | 9,398,540 | $695.1M | Reduce -1.1% |
| MSFT Microsoft Corp. | 3.31% | 940,201 | $462.4M | Reduce -1.0% |
| ENB Enbridge Inc. | 2.27% | 7,060,847 | $316.8M | Add +3.0% |
| AAPL Apple Inc. | 2.18% | 1,468,884 | $304.9M | Reduce -1.3% |
| JPM JPMorgan Chase & Co. | 2.04% | 979,408 | $284.2M | Add +2.3% |
| BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA HALIFAX | 1.91% | 4,785,488 | $266.1M | Add +2.8% |
| BMO Bank of Montreal filed as BANK MONTREAL QUE | 1.82% | 2,282,520 | $253.6M | Reduce -2.7% |
| AMZN Amazon.com Inc. | 1.72% | 1,089,319 | $240.1M | Add +3.2% |
| V Visa Inc. Class A | 1.71% | 673,791 | $239.4M | Add +1.7% |
| FTS Fortis Inc. | 1.68% | 4,897,492 | $233.9M | Add +7.7% |
| BN Brookfield Corp. | 1.63% | 3,671,254 | $227.1M | Add +4.7% |
| CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BK COMM | 1.61% | 3,162,404 | $224.4M | Add +3.1% |
| TRP TC Energy Corp. | 1.58% | 4,620,139 | $220.9M | Add +4.9% |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.57% | 354,407 | $218.8M | Add +2.6% |
| MFC Manulife Financial Corp. | 1.53% | 6,695,132 | $213.9M | Reduce -2.6% |
| CNQ Canadian Natural Resources | 1.51% | 6,666,913 | $210.7M | Add +12.7% |
| NVDA Nvidia Corp. | 1.46% | 1,333,317 | $203.9M | Add +3.6% |
| CNI Canadian Natl Railway Co. | 1.38% | 1,844,782 | $193.3M | Add +2.5% |
| TU Telus Corp. | 1.33% | 11,422,033 | $185.7M | Add +6.0% |
| SU Suncor Energy Inc. | 1.21% | 4,463,197 | $168.5M | Reduce -0.3% |
| COST Costco Wholesale Corp. | 1.20% | 170,786 | $168.2M | Reduce -4.6% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.04% | 295,715 | $144.8M | Add +0.9% |
| META Meta Platforms Inc. Class A | 0.97% | 188,469 | $135.4M | Reduce -7.7% |
| GOOG Alphabet Inc. Class C | 0.96% | 760,417 | $134.5M | Add +2.3% |
| CP Canadian Pacific Kansas City | 0.93% | 1,614,680 | $129.7M | Reduce -1.5% |
| SLF Sun Life Financial Inc. | 0.89% | 1,884,994 | $124.4M | Add +7.2% |
| NTR Nutrien Ltd. | 0.88% | 1,989,437 | $122.4M | Add +3.5% |
| AEM Agnico Eagle Mines Ltd. | 0.85% | 999,237 | $118.1M | Reduce -7.8% |
| AVGO Broadcom Inc. | 0.78% | 412,920 | $109.2M | Add +34.0% |
| HD Home Depot Inc. | 0.76% | 285,556 | $106.5M | Add +0.6% |
| GOOGL Alphabet Inc. Class A | 0.75% | 597,760 | $105.1M | Reduce -3.8% |
| WMT Walmart Inc. | 0.74% | 1,051,707 | $103.3M | Add +3.6% |
| ORCL Oracle Corp. | 0.69% | 443,063 | $97.0M | Add +22.4% |
| MCD McDonald's Corp. | 0.67% | 316,117 | $94.0M | Add +0.6% |
| PANW Palo Alto Networks Inc. | 0.67% | 471,467 | $93.1M | Add +1.7% |
| EMA Emera Inc. | 0.64% | 1,937,153 | $88.9M | New |
| VEA Vanguard Ftse Developed ETF | 0.63% | 1,552,091 | $88.3M | Add +20.8% |
| RCI Rogers Communications Inc. Class B | 0.61% | 2,820,450 | $85.6M | Add +12.1% |
| QSR Restaurant Brands Intern | 0.59% | 1,219,838 | $82.7M | Add +1.0% |
| BAM Brookfield Asset Mgmt-A | 0.58% | 1,486,086 | $81.5M | Add +9.5% |
| TECK Teck Resources Ltd.-CLS B | 0.52% | 1,815,321 | $72.6M | Reduce -3.1% |
| PG The Procter & Gamble Co. | 0.52% | 446,472 | $71.9M | Add +0.5% |
| WCN Waste Connections Inc. | 0.51% | 385,079 | $71.5M | Add +19.5% |
| GIB Cgi Inc. | 0.51% | 673,230 | $71.1M | Add +3.0% |
| SHOP Shopify Inc. Class A | 0.51% | 631,332 | $71.0M | Add +18.6% |
| MA Mastercard Inc. Class A | 0.50% | 122,860 | $69.4M | Add +6.2% |
| SYK Stryker Corp. | 0.49% | 170,867 | $67.8M | Add +6.0% |
| WPM Wheaton Precious Metals Corp. | 0.48% | 739,597 | $66.5M | Reduce -2.7% |
| NFLX Netflix Inc. | 0.47% | 50,889 | $65.8M | Add +2.4% |
| LLY Eli Lilly & Co. | 0.47% | 84,737 | $65.8M | Add +4.8% |
| JNJ Johnson & Johnson | 0.45% | 400,771 | $62.5M | Reduce -3.2% |
| CCJ Cameco Corp. | 0.43% | 836,426 | $59.8M | Reduce -11.5% |
| CVE Cenovus Energy Inc. | 0.42% | 4,237,224 | $59.0M | Add +6.3% |
| GE General Electric filed as GE AEROSPACE | 0.42% | 235,064 | $58.5M | Add +4.1% |
| XLK SS Technology Select Sector | 0.41% | 230,911 | $57.8M | Add +2.1% |
| PBA Pembina Pipeline Corp. | 0.39% | 1,472,691 | $54.9M | Add +4.3% |
| QCOM Qualcomm Inc. | 0.39% | 343,623 | $54.7M | Reduce -0.0% |
| C Citigroup Inc. | 0.39% | 628,658 | $54.2M | Add +4.2% |
| PLTR Palantir Technologies Inc. Class A | 0.38% | 407,177 | $53.2M | Add +38.3% |
| BIP Brookfield Infrastructure Pa | 0.38% | 1,576,166 | $52.8M | Add +2.6% |
| BIPC Brookfield Infrastructure-A | 0.38% | 1,250,781 | $52.5M | Add +9.9% |
| BEPC Brookfield Renewable Corp. | 0.34% | 1,444,171 | $47.4M | Reduce -5.1% |
| TRI Thomson Reuters Corp. | 0.34% | 235,308 | $47.4M | Add +24.3% |
| UNH Unitedhealth Group Inc. | 0.33% | 142,630 | $46.4M | Reduce -6.3% |
| ATS Ats Corp. | 0.33% | 1,452,320 | $46.4M | Reduce -13.2% |
| STN Stantec Inc. | 0.32% | 413,541 | $44.8M | Add +1.2% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.32% | 917,692 | $44.2M | Add +2.8% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.32% | 151,529 | $44.1M | Add +13.7% |
| IVV iShares Core S&P 500 ETF | 0.31% | 70,872 | $44.0M | Add +1.4% |
| GLD SPDR Gold Shares | 0.31% | 140,620 | $43.2M | Add +26.5% |
| IMO Imperial Oil Ltd. | 0.31% | 532,311 | $42.7M | Add +219.9% |
| MGA Magna International Inc. | 0.30% | 1,049,989 | $42.0M | Add +16.6% |
| FNV Franco-Nevada Corp. | 0.30% | 255,083 | $41.6M | Add +1.7% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.28% | 315,468 | $38.9M | Reduce -6.4% |
| GEHC GE Healthcare Technology | 0.27% | 502,645 | $38.1M | Add +11.3% |
| GS Goldman Sachs Group Inc. | 0.27% | 53,818 | $38.0M | Reduce -14.6% |
| QQQ Invesco QQQ Trust Series 1 | 0.27% | 68,975 | $37.7M | Add +5.6% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.27% | 298,322 | $37.3M | Add +5.5% |
| SRE Sempra | 0.26% | 483,439 | $36.8M | Add +26.4% |
| T AT&T Inc. | 0.26% | 1,275,234 | $36.8M | Add +9.2% |
| BCE Bce Inc. | 0.26% | 1,627,120 | $36.8M | Add +27.6% |
| VZ Verizon Communications Inc. | 0.26% | 816,864 | $35.7M | Add +64.3% |
| RCL Royal Caribbean Cruises Ltd. | 0.25% | 111,564 | $35.2M | Reduce -4.9% |
| XLV SS Health Care Select Sector | 0.25% | 255,382 | $34.9M | Reduce -14.1% |
| VWO Vanguard Ftse Emerging Marke | 0.24% | 689,483 | $34.2M | Reduce -5.2% |
| TSLA Tesla Inc. | 0.23% | 108,224 | $32.5M | Add +12.6% |
| NEM Newmont Corp. | 0.23% | 548,595 | $32.2M | Add +35.4% |
| RSP Invesco S&P 500 Equal Weight | 0.23% | 172,661 | $31.7M | Reduce -2.5% |
| ETN Eaton Corp. PLC | 0.23% | 88,625 | $31.5M | Reduce -12.4% |
| SOBO South Bow Corp. | 0.22% | 1,222,897 | $31.4M | Reduce -1.6% |
| BX Blackstone Inc. | 0.22% | 204,357 | $31.2M | Add +4.8% |
| MS Morgan Stanley | 0.22% | 217,039 | $30.6M | Reduce -11.7% |
| ABT Abbott Laboratories | 0.22% | 222,306 | $30.3M | Reduce -4.2% |
| TIP iShares Tips Bond ETF | 0.21% | 262,330 | $28.7M | Add +10.9% |
| IVE iShares S&P 500 Value ETF | 0.20% | 144,849 | $28.5M | Add +13.7% |
| BBU Brookfield Business PT-Unit | 0.20% | 1,102,273 | $28.3M | Add +1.4% |
| GD General Dynamics Corp. | 0.20% | 94,674 | $27.8M | Add +1.8% |
| AMGN Amgen Inc. | 0.20% | 94,987 | $27.6M | Add +4.6% |
| AXP American Express Co. | 0.20% | 85,361 | $27.5M | Reduce -13.5% |
Other holdings (5): bonds, preferreds, convertibles and warrants · $37K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| OXY.WS Occidental Petroleum-CW27 | *W EXP 08/03/202 | 861 | $18K | No change |
| NESRW National Energy Service-CW23 | *W EXP 06/06/202 | 18,300 | $9K | No change |
| CVE.WS Cenovus Energy Inc. -CW26 | *W EXP 01/01/202 | 1,120 | $9K | Reduce -33.5% |
| RVMDW Revolution Medicines Inc.-28 | *W EXP 12/17/202 | 448 | $95 | No change |
| AMPWF Ardagh Metal Packaging -CW26 | *W EXP 08/04/202 | 200 | $6 | No change |
Total filed on the 13F, all lines: $14.0B.
Portfolio Sells Q1 2025 → Q2 2025
| AAPL Apple Inc. | Reduce -1.3% | 2.18% | −0.53 |
| UNH Unitedhealth Group Inc. | Reduce -6.3% | 0.33% | −0.32 |
| MFC Manulife Financial Corp. | Reduce -2.6% | 1.53% | −0.24 |
| VRN Veren Inc. | Sold out | 0.00% | −0.20 |
| COST Costco Wholesale Corp. | Reduce -4.6% | 1.20% | −0.19 |
| SU Suncor Energy Inc. | Reduce -0.3% | 1.21% | −0.19 |
| TMUS T-Mobile US Inc. | Reduce -60.6% | 0.07% | −0.15 |
| GILD Gilead Sciences Inc. | Reduce -82.5% | 0.02% | −0.11 |
| TLH iShares 10-20 Year Treasury | Reduce -69.9% | 0.04% | −0.11 |
| AEM Agnico Eagle Mines Ltd. | Reduce -7.8% | 0.85% | −0.10 |
| VOO Vanguard S&P 500 ETF | Reduce -35.1% | 0.17% | −0.10 |
| XLV SS Health Care Select Sector | Reduce -14.1% | 0.25% | −0.10 |
| ARE Alexandria Real Estate Equit | Reduce -59.1% | 0.04% | −0.09 |
| PFE Pfizer Inc. | Reduce -26.5% | 0.13% | −0.08 |
| NCLH Norwegian Cruise Line Holdin | Reduce -93.0% | 0.01% | −0.07 |
| NEE Nextera Energy Inc. | Reduce -54.9% | 0.05% | −0.07 |
| IEF iShares 7-10 Year Treasury B | Reduce -33.2% | 0.10% | −0.07 |
| JNJ Johnson & Johnson | Reduce -3.2% | 0.45% | −0.07 |
| MRK Merck & Co. Inc. | Reduce -8.7% | 0.14% | −0.06 |
| UNP Union Pacific Corp. | Reduce -13.8% | 0.19% | −0.06 |
| WFC Wells Fargo & Co. | Reduce -49.0% | 0.06% | −0.06 |
| ELV Elevance Health Inc. | Reduce -73.5% | 0.02% | −0.06 |
| RSPT Invesco S&P 500 Equal Weight | Reduce -98.1% | 0.00% | −0.06 |
| VHT Vanguard Health Care ETF | Reduce -65.6% | 0.02% | −0.05 |
| BMY Bristol-Myers Squibb Co. | Reduce -14.6% | 0.08% | −0.05 |
| TLT iShares 20+ Year Treasury BD | Reduce -47.6% | 0.04% | −0.05 |
| XOM Exxon Mobil Corp. | Reduce -10.9% | 0.16% | −0.05 |
| GOOGL Alphabet Inc. Class A | Reduce -3.8% | 0.75% | −0.05 |
| ABBV Abbvie Inc. | Reduce -22.4% | 0.07% | −0.04 |
| ESLT Elbit Systems Ltd. | Reduce -99.5% | 0.00% | −0.04 |
| GIL Gildan Activewear Inc. | Reduce -51.6% | 0.04% | −0.04 |
| IGEB iShares Investment Grade SYS | Reduce -98.1% | 0.00% | −0.04 |
| FTI Technipfmc PLC | Sold out | 0.00% | −0.04 |
| TECK Teck Resources Ltd.-CLS B | Reduce -3.1% | 0.52% | −0.04 |
| QCOM Qualcomm Inc. | Reduce -0.0% | 0.39% | −0.04 |
| CVS CVS Health Corp. | Reduce -19.8% | 0.16% | −0.04 |
| GRTUF Granite Real Estate Investme | Reduce -17.9% | 0.13% | −0.04 |
| FVC First Trust Dorsey Wright DY | Reduce -88.2% | 0.00% | −0.03 |
| WM Waste Management Inc. | Reduce -1.8% | 0.18% | −0.03 |
| ABT Abbott Laboratories | Reduce -4.2% | 0.22% | −0.03 |
| SOBO South Bow Corp. | Reduce -1.6% | 0.22% | −0.03 |
| TMO Thermo Fisher Scientific Inc. | Reduce -3.2% | 0.10% | −0.03 |
| IGSB iShares 1-5Y Inv Grade Corp. | Reduce -29.3% | 0.05% | −0.03 |
| GPK Graphic Packaging Holding Co. | Reduce -99.9% | 0.00% | −0.03 |
| ISRG Intuitive Surgical Inc. | Reduce -24.8% | 0.08% | −0.03 |
| GRMN Garmin Ltd. | Reduce -88.6% | 0.00% | −0.03 |
| AMD Advanced Micro Devices | Reduce -34.0% | 0.09% | −0.03 |
| CB Chubb Ltd. | Reduce -3.4% | 0.12% | −0.03 |
| TXRH Texas Roadhouse Inc. | Reduce -76.7% | 0.01% | −0.03 |
| LOW Lowe's Cos Inc. | Reduce -0.8% | 0.16% | −0.03 |
Portfolio Buys Q1 2025 → Q2 2025
| EMA Emera Inc. | New | 0.64% | +0.64 |
| AVGO Broadcom Inc. | Add +34.0% | 0.78% | +0.36 |
| NVDA Nvidia Corp. | Add +3.6% | 1.46% | +0.30 |
| ORCL Oracle Corp. | Add +22.4% | 0.69% | +0.27 |
| IMO Imperial Oil Ltd. | Add +219.9% | 0.31% | +0.21 |
| CM Can Imperial BK of Commerce | Add +3.1% | 1.61% | +0.19 |
| PLTR Palantir Technologies Inc. Class A | Add +38.3% | 0.38% | +0.17 |
| RY Royal Bank of Canada | Add +0.9% | 5.13% | +0.17 |
| BNS Bank of Nova Scotia | Add +2.8% | 1.91% | +0.13 |
| NTR Nutrien Ltd. | Add +3.5% | 0.88% | +0.13 |
| JPM JPMorgan Chase & Co. | Add +2.3% | 2.04% | +0.13 |
| VEA Vanguard Ftse Developed ETF | Add +20.8% | 0.63% | +0.10 |
| RCI Rogers Communications Inc. Class B | Add +12.1% | 0.61% | +0.10 |
| BN Brookfield Corp. | Add +4.7% | 1.63% | +0.10 |
| NFLX Netflix Inc. | Add +2.4% | 0.47% | +0.09 |
| PGR Progressive Corp. | Add +468.8% | 0.12% | +0.09 |
| SHOP Shopify Inc. Class A | Add +18.6% | 0.51% | +0.09 |
| VZ Verizon Communications Inc. | Add +64.3% | 0.26% | +0.08 |
| TRI Thomson Reuters Corp. | Add +24.3% | 0.34% | +0.07 |
| NEM Newmont Corp. | Add +35.4% | 0.23% | +0.07 |
| SLF Sun Life Financial Inc. | Add +7.2% | 0.89% | +0.07 |
| TU Telus Corp. | Add +6.0% | 1.33% | +0.07 |
| CSX CSX Corp. | Add +216.3% | 0.10% | +0.07 |
| CLS Celestica Inc. | Add +2.2% | 0.16% | +0.06 |
| AMZN Amazon.com Inc. | Add +3.2% | 1.72% | +0.06 |
| MRVL Marvell Technology Inc. | Add +59.1% | 0.14% | +0.06 |
| STX Seagate Technology Holdings | Add +3.1% | 0.16% | +0.06 |
| EPOL iShares MSCI Poland ETF | Add +6968.6% | 0.05% | +0.05 |
| TFII Tfi International Inc. | Add +35.0% | 0.17% | +0.05 |
| GLD SPDR Gold Shares | Add +26.5% | 0.31% | +0.05 |
| STN Stantec Inc. | Add +1.2% | 0.32% | +0.04 |
| CIBR First Trust Nasdaq Cybersecu | Add +902.2% | 0.05% | +0.04 |
| IBM Intl Business Machines Corp. | Add +13.7% | 0.32% | +0.04 |
| GE General Electric | Add +4.1% | 0.42% | +0.04 |
| PM Philip Morris International | Add +54.0% | 0.13% | +0.04 |
| BSX Boston Scientific Corp. | Add +106.2% | 0.09% | +0.04 |
| BAM Brookfield Asset Mgmt-A | Add +9.5% | 0.58% | +0.04 |
| BNY Bank of New York Mellon Corp. | Add +53.6% | 0.13% | +0.04 |
| C Citigroup Inc. | Add +4.2% | 0.39% | +0.04 |
| SRE Sempra | Add +26.4% | 0.26% | +0.04 |
| EWJ iShares MSCI Japan ETF | Add +60.5% | 0.10% | +0.04 |
| NDAQ Nasdaq Inc. | Add +87.3% | 0.07% | +0.03 |
| EWC iShares MSCI Canada ETF | Add +223.5% | 0.05% | +0.03 |
| HOOD Robinhood Markets Inc. Class A | Add +9334.8% | 0.03% | +0.03 |
| VGK Vanguard Ftse Europe ETF | Add +70.9% | 0.08% | +0.03 |
| BIPC Brookfield Infrastructure-A | Add +9.9% | 0.38% | +0.03 |
| PWR Quanta Services Inc. | Add +1.1% | 0.15% | +0.03 |
| NOA North American Construction | Add +106111.8% | 0.03% | +0.03 |
| EME Emcor Group Inc. | Add +151.3% | 0.04% | +0.03 |
| XLK SS Technology Select Sector | Add +2.1% | 0.41% | +0.03 |
Notes & Other Activity Q1 2025 → Q2 2025
| CVE.WS Cenovus Energy Inc. -CW26 | *W EXP 01/01/202 | Reduce -33.5% | 1,120 | $9K |
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 | 2,396 | $38.0B | TD, RY, AAPL, BMO, NVDA |
| Q1 2026 | 2,296 | $33.7B | TD, RY, AAPL, ENB, BMO |
| Q4 2025 | 2,034 | $16.1B | RY, TD, MSFT, AAPL, ENB |
| Q3 2025 | 2,060 | $15.3B | RY, TD, MSFT, AAPL, ENB |
| Q2 2025 | 1,987 | $14.0B | RY, TD, MSFT, ENB, AAPL |
| Q1 2025 | 1,944 | $12.2B | RY, TD, MSFT, AAPL, ENB |
| Q4 2024 | 1,966 | $12.4B | RY, TD, MSFT, AAPL, ENB |
| Q3 2024 | 1,907 | $12.3B | RY, TD, MSFT, AAPL, ENB |
| Q2 2024Amended | 1,901 | $11.2B | RY, TD, MSFT, AAPL, ENB |
| Q1 2024 | 1,765 | $13.3B | RY, TD, MSFT, ENB, CNQ |