TD Waterhouse Canada Inc.
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 3, 2025), TD Waterhouse Canada Inc. reported 2,060 stock positions worth $15.3 billion. Its top holding was Royal Bank of Canada (RY) at 5.2% of the portfolio, followed by Toronto-Dominion Bank (TD, 4.9%) and Microsoft (MSFT, 3.2%). Compared with Q2 2025, it opened 185 new positions, sold out of 111, added to 724 and reduced 537. The biggest buy was Agnico Eagle Mines (AEM, shares +13%) and the biggest sale Visa Class A (V, shares −1%).
- Most Recent 13F
- Q2 2026
- Location
- TORONTO, A6
- CIK
- 0001999606
- Portfolio Value
- $15.3B (Q3 2025)
- SEC Filing
- 0002052595-25-000070 ↗ filed Nov 3, 2025
Holdings Value
Holdings 2,060 stocks · $15.3B
| RY Royal Bank of Canada | 5.21% | 5,423,423 | $799.4M | Add +0.1% |
| TD Toronto-Dominion Bank | 4.86% | 9,287,287 | $745.9M | Reduce -1.2% |
| MSFT Microsoft Corp. | 3.22% | 949,901 | $493.9M | Add +1.0% |
| AAPL Apple Inc. | 2.50% | 1,498,872 | $383.1M | Add +2.0% |
| ENB Enbridge Inc. | 2.35% | 7,244,531 | $360.0M | Add +2.6% |
| JPM JPMorgan Chase & Co. | 2.02% | 996,773 | $309.7M | Add +1.8% |
| BMO Bank of Montreal filed as BANK MONTREAL QUE | 2.01% | 2,376,897 | $308.3M | Add +4.1% |
| BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA HALIFAX | 1.98% | 4,708,008 | $303.4M | Reduce -1.6% |
| NVDA Nvidia Corp. | 1.75% | 1,432,527 | $268.0M | Add +7.4% |
| BN Brookfield Corp. | 1.70% | 3,848,049 | $261.2M | Add +4.8% |
| CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BANK OF CO | 1.70% | 3,265,119 | $260.9M | Add +3.3% |
| TRP TC Energy Corp. | 1.66% | 4,747,508 | $255.1M | Add +2.8% |
| AMZN Amazon.com Inc. | 1.64% | 1,137,359 | $251.2M | Add +4.4% |
| FTS Fortis Inc. | 1.62% | 4,934,402 | $248.9M | Add +0.8% |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.61% | 368,983 | $246.8M | Add +4.1% |
| V Visa Inc. Class A | 1.51% | 665,588 | $231.7M | Reduce -1.2% |
| MFC Manulife Financial Corp. | 1.41% | 6,861,208 | $215.8M | Add +2.5% |
| CNQ Canadian Natural Resources | 1.33% | 6,442,985 | $203.7M | Reduce -3.4% |
| AEM Agnico Eagle Mines Ltd. | 1.26% | 1,133,384 | $193.0M | Add +13.4% |
| GOOG Alphabet Inc. Class C | 1.25% | 784,268 | $192.6M | Add +3.1% |
| TU Telus Corp. | 1.19% | 11,557,626 | $183.1M | Add +1.2% |
| SU Suncor Energy Inc. | 1.19% | 4,484,634 | $182.8M | Add +0.5% |
| CNI Canadian Natl Railway Co. | 1.15% | 1,875,427 | $176.9M | Add +1.7% |
| GOOGL Alphabet Inc. Class A | 1.06% | 666,489 | $163.3M | Add +11.5% |
| COST Costco Wholesale Corp. | 1.04% | 173,832 | $159.5M | Add +1.8% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.96% | 297,017 | $148.1M | Add +0.4% |
| META Meta Platforms Inc. Class A | 0.90% | 192,446 | $138.2M | Add +2.1% |
| AVGO Broadcom Inc. | 0.90% | 414,999 | $137.7M | Add +0.5% |
| NTR Nutrien Ltd. | 0.84% | 2,264,512 | $128.5M | Add +13.8% |
| CP Canadian Pacific Kansas City | 0.81% | 1,664,411 | $124.5M | Add +3.1% |
| SLF Sun Life Financial Inc. | 0.80% | 1,971,812 | $122.4M | Add +4.6% |
| ORCL Oracle Corp. | 0.80% | 422,009 | $122.1M | Reduce -4.8% |
| HD Home Depot Inc. | 0.75% | 287,742 | $114.4M | Add +0.8% |
| PANW Palo Alto Networks Inc. | 0.66% | 488,542 | $101.0M | Add +3.6% |
| VEA Vanguard Ftse Developed ETF | 0.65% | 1,648,093 | $99.7M | Add +6.2% |
| MCD McDonald's Corp. | 0.63% | 323,589 | $97.3M | Add +2.4% |
| EMA Emera Inc. | 0.61% | 1,957,793 | $93.3M | Add +1.1% |
| WMT Walmart Inc. | 0.61% | 911,045 | $92.9M | Reduce -13.4% |
| SHOP Shopify Inc. Class A | 0.59% | 607,539 | $91.0M | Reduce -3.8% |
| WPM Wheaton Precious Metals Corp. | 0.59% | 809,093 | $89.9M | Add +9.4% |
| TECK Teck Resources Ltd.-CLS B | 0.56% | 1,962,883 | $86.3M | Add +8.1% |
| RCI Rogers Communications Inc. Class B | 0.54% | 2,413,534 | $83.1M | Reduce -14.4% |
| BAM Brookfield Asset Mgmt-A | 0.53% | 1,454,858 | $81.4M | Reduce -2.1% |
| QSR Restaurant Brands Intern | 0.50% | 1,154,233 | $76.8M | Reduce -5.4% |
| JNJ Johnson & Johnson | 0.49% | 403,754 | $75.2M | Add +0.7% |
| LLY Eli Lilly & Co. | 0.48% | 88,315 | $73.0M | Add +4.2% |
| GE General Electric filed as GE AEROSPACE | 0.47% | 239,952 | $72.2M | Add +2.1% |
| WCN Waste Connections Inc. | 0.47% | 417,987 | $72.2M | Add +8.6% |
| MA Mastercard Inc. Class A | 0.46% | 123,458 | $71.0M | Add +0.5% |
| PBA Pembina Pipeline Corp. | 0.43% | 1,662,469 | $66.0M | Add +12.9% |
| XLK SS Technology Select Sector | 0.43% | 230,286 | $65.5M | Reduce -0.3% |
| C Citigroup Inc. | 0.42% | 645,186 | $63.7M | Add +2.6% |
| NFLX Netflix Inc. | 0.41% | 54,186 | $63.5M | Add +6.5% |
| SYK Stryker Corp. | 0.41% | 173,906 | $63.3M | Add +1.8% |
| PG The Procter & Gamble Co. | 0.40% | 399,988 | $61.4M | Reduce -10.4% |
| GIB Cgi Inc. | 0.39% | 675,678 | $60.5M | Add +0.4% |
| IVV iShares Core S&P 500 ETF | 0.39% | 89,856 | $60.2M | Add +26.8% |
| CCJ Cameco Corp. | 0.39% | 715,720 | $59.7M | Reduce -14.4% |
| FNV Franco-Nevada Corp. | 0.39% | 275,747 | $59.6M | Add +8.1% |
| CVE Cenovus Energy Inc. | 0.39% | 3,812,993 | $59.6M | Reduce -10.0% |
| PLTR Palantir Technologies Inc. Class A | 0.39% | 320,588 | $59.3M | Reduce -21.3% |
| GS Goldman Sachs Group Inc. | 0.38% | 73,869 | $58.1M | Add +37.3% |
| QCOM Qualcomm Inc. | 0.38% | 348,505 | $58.0M | Add +1.4% |
| NEM Newmont Corp. | 0.36% | 647,680 | $54.6M | Add +18.1% |
| IMO Imperial Oil Ltd. | 0.34% | 582,847 | $52.5M | Add +9.5% |
| BIP Brookfield Infrastructure Pa | 0.34% | 1,556,487 | $51.8M | Reduce -1.3% |
| BIPC Brookfield Infrastructure-A | 0.32% | 1,193,707 | $49.5M | Reduce -4.6% |
| UNH Unitedhealth Group Inc. | 0.32% | 141,383 | $49.3M | Reduce -0.9% |
| GLD SPDR Gold Shares | 0.32% | 136,868 | $48.9M | Reduce -2.7% |
| STN Stantec Inc. | 0.31% | 440,724 | $46.9M | Add +6.6% |
| QQQ Invesco QQQ Trust Series 1 | 0.30% | 75,336 | $45.5M | Add +9.2% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.30% | 895,406 | $45.4M | Reduce -2.4% |
| BEPC Brookfield Renewable Corp. | 0.29% | 1,250,512 | $44.3M | Reduce -13.4% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.28% | 303,044 | $43.7M | Add +1.6% |
| SRE Sempra | 0.28% | 488,839 | $43.5M | Add +1.1% |
| VWO Vanguard Ftse Emerging Marke | 0.28% | 788,128 | $43.0M | Add +14.3% |
| VZ Verizon Communications Inc. | 0.28% | 973,563 | $42.4M | Add +19.2% |
| MGA Magna International Inc. | 0.28% | 919,464 | $42.4M | Reduce -12.4% |
| TSLA Tesla Inc. | 0.27% | 91,806 | $42.1M | Reduce -15.2% |
| STX Seagate Technology Holdings | 0.27% | 158,513 | $41.0M | Add +3.3% |
| BCE Bce Inc. | 0.25% | 1,642,790 | $38.6M | Add +1.0% |
| ANET Arista Networks Inc. | 0.24% | 250,716 | $37.5M | Add +34.4% |
| ATS Ats Corp. | 0.24% | 1,430,232 | $37.4M | Reduce -1.5% |
| BX Blackstone Inc. | 0.24% | 220,421 | $37.1M | Add +7.9% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.24% | 324,962 | $36.7M | Add +3.0% |
| T AT&T Inc. | 0.24% | 1,334,368 | $36.7M | Add +4.6% |
| GD General Dynamics Corp. | 0.23% | 105,494 | $35.9M | Add +11.4% |
| OTEX Open Text Corp. | 0.23% | 960,681 | $35.7M | Add +3.9% |
| BBU Brookfield Business PT-Unit | 0.23% | 1,119,781 | $35.5M | Add +1.6% |
| ETN Eaton Corp. PLC | 0.23% | 92,758 | $34.7M | Add +4.7% |
| SOBO South Bow Corp. | 0.23% | 1,242,298 | $34.6M | Add +1.6% |
| XLV SS Health Care Select Sector | 0.22% | 238,612 | $34.2M | Reduce -6.6% |
| VOO Vanguard S&P 500 ETF | 0.22% | 54,373 | $33.4M | Add +30.6% |
| IGF iShares Global Infrastructur | 0.22% | 542,152 | $33.3M | Add +18.8% |
| RCL Royal Caribbean Cruises Ltd. | 0.21% | 104,321 | $33.0M | Reduce -6.5% |
| CLS Celestica Inc. | 0.21% | 130,011 | $32.8M | Reduce -13.6% |
| MS Morgan Stanley | 0.21% | 208,121 | $32.7M | Reduce -4.1% |
| IVE iShares S&P 500 Value ETF | 0.21% | 157,114 | $32.6M | Add +8.5% |
| TIP iShares Tips Bond ETF | 0.21% | 288,771 | $32.3M | Add +10.1% |
| KGC Kinross Gold Corp. | 0.21% | 1,258,897 | $32.0M | Add +10.7% |
Other holdings (4): bonds, preferreds, convertibles and warrants · $34K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| OXY.WS Occidental Petroleum-CW27 | *W EXP 08/03/202 | 861 | $22K | No change |
| CVE.WS Cenovus Energy Inc. -CW26 | *W EXP 01/01/202 | 1,047 | $12K | Reduce -6.5% |
| RVMDW Revolution Medicines Inc.-28 | *W EXP 12/17/202 | 448 | $130 | No change |
| AMPWF Ardagh Metal Packaging -CW26 | *W EXP 08/04/202 | 200 | $3 | No change |
Total filed on the 13F, all lines: $15.3B.
Portfolio Sells Q2 2025 → Q3 2025
| V Visa Inc. Class A | Reduce -1.2% | 1.51% | −0.20 |
| CNQ Canadian Natural Resources | Reduce -3.4% | 1.33% | −0.18 |
| IBM Intl Business Machines Corp. | Reduce -47.1% | 0.15% | −0.17 |
| TRI Thomson Reuters Corp. | Reduce -14.1% | 0.20% | −0.14 |
| WMT Walmart Inc. | Reduce -13.4% | 0.61% | −0.13 |
| TD Toronto-Dominion Bank | Reduce -1.2% | 4.86% | −0.12 |
| PG The Procter & Gamble Co. | Reduce -10.4% | 0.40% | −0.12 |
| BSV Vanguard Short-Term Bond ETF | Reduce -89.6% | 0.01% | −0.11 |
| PM Philip Morris International | Reduce -77.3% | 0.02% | −0.10 |
| PGR Progressive Corp. | Reduce -79.5% | 0.02% | −0.10 |
| QSR Restaurant Brands Intern | Reduce -5.4% | 0.50% | −0.09 |
| GEHC GE Healthcare Technology | Reduce -26.6% | 0.18% | −0.09 |
| ATS Ats Corp. | Reduce -1.5% | 0.24% | −0.09 |
| FTNT Fortinet Inc. | Reduce -91.1% | 0.01% | −0.08 |
| BMY Bristol-Myers Squibb Co. | Reduce -93.4% | 0.00% | −0.07 |
| RSP Invesco S&P 500 Equal Weight | Reduce -27.8% | 0.15% | −0.07 |
| BBH Vaneck Biotech ETF | Reduce -99.9% | 0.00% | −0.07 |
| RCI Rogers Communications Inc. Class B | Reduce -14.4% | 0.54% | −0.07 |
| IEF iShares 7-10 Year Treasury B | Reduce -50.3% | 0.05% | −0.06 |
| BIPC Brookfield Infrastructure-A | Reduce -4.6% | 0.32% | −0.05 |
| BAM Brookfield Asset Mgmt-A | Reduce -2.1% | 0.53% | −0.05 |
| BEPC Brookfield Renewable Corp. | Reduce -13.4% | 0.29% | −0.05 |
| BROS Dutch Bros Inc. Class A | Reduce -100.0% | 0.00% | −0.05 |
| LMT Lockheed Martin Corp. | Reduce -63.7% | 0.03% | −0.05 |
| IGSB iShares 1-5Y Inv Grade Corp. | Reduce -80.1% | 0.01% | −0.04 |
| BIP Brookfield Infrastructure Pa | Reduce -1.3% | 0.34% | −0.04 |
| CCJ Cameco Corp. | Reduce -14.4% | 0.39% | −0.04 |
| HAL Halliburton Co. | Reduce -66.0% | 0.02% | −0.04 |
| SHY iShares 1-3 Year Treasury Bo | Reduce -54.9% | 0.03% | −0.04 |
| RCL Royal Caribbean Cruises Ltd. | Reduce -6.5% | 0.21% | −0.04 |
| UNP Union Pacific Corp. | Reduce -11.4% | 0.15% | −0.04 |
| TLH iShares 10-20 Year Treasury | Reduce -94.6% | 0.00% | −0.04 |
| CVE Cenovus Energy Inc. | Reduce -10.0% | 0.39% | −0.03 |
| ACN Accenture PLC Class A | Reduce -18.5% | 0.05% | −0.03 |
| ISRG Intuitive Surgical Inc. | Reduce -25.1% | 0.04% | −0.03 |
| EWC iShares MSCI Canada ETF | Reduce -67.3% | 0.02% | −0.03 |
| EPOL iShares MSCI Poland ETF | Reduce -53.8% | 0.02% | −0.03 |
| BA The Boeing Co. | Reduce -25.3% | 0.07% | −0.03 |
| DE Deere & Co. | Reduce -17.6% | 0.06% | −0.03 |
| CME Cme Group Inc. | Reduce -54.2% | 0.02% | −0.03 |
| VRTX Vertex Pharmaceuticals Inc. | Reduce -60.3% | 0.01% | −0.03 |
| MELI MercadoLibre Inc. | Reduce -28.9% | 0.04% | −0.03 |
| CTAS Cintas Corp. | Reduce -51.9% | 0.02% | −0.03 |
| LULU Lululemon Athletica Inc. | Reduce -41.5% | 0.02% | −0.03 |
| INTU Intuit Inc. | Reduce -38.4% | 0.03% | −0.03 |
| DXJ Wisdomtree Japan Hedged Eq | Reduce -97.5% | 0.00% | −0.03 |
| XLV SS Health Care Select Sector | Reduce -6.6% | 0.22% | −0.03 |
| NKE Nike Inc. Class B | Reduce -8.6% | 0.14% | −0.03 |
| AJG Arthur J Gallagher & Co. | Reduce -86.0% | 0.00% | −0.03 |
| AG First Majestic Silver Corp. | Reduce -94.4% | 0.00% | −0.03 |
Portfolio Buys Q2 2025 → Q3 2025
| AEM Agnico Eagle Mines Ltd. | Add +13.4% | 1.26% | +0.41 |
| AAPL Apple Inc. | Add +2.0% | 2.50% | +0.31 |
| GOOGL Alphabet Inc. Class A | Add +11.5% | 1.06% | +0.31 |
| GOOG Alphabet Inc. Class C | Add +3.1% | 1.25% | +0.29 |
| NVDA Nvidia Corp. | Add +7.4% | 1.75% | +0.29 |
| BMO Bank of Montreal | Add +4.1% | 2.01% | +0.19 |
| NEM Newmont Corp. | Add +18.1% | 0.36% | +0.12 |
| AVGO Broadcom Inc. | Add +0.5% | 0.90% | +0.11 |
| ANET Arista Networks Inc. | Add +34.4% | 0.24% | +0.11 |
| WPM Wheaton Precious Metals Corp. | Add +9.4% | 0.59% | +0.11 |
| STX Seagate Technology Holdings | Add +3.3% | 0.27% | +0.11 |
| GS Goldman Sachs Group Inc. | Add +37.3% | 0.38% | +0.11 |
| ABBV Abbvie Inc. | Add +98.3% | 0.17% | +0.10 |
| CM Can Imperial BK of Commerce | Add +3.3% | 1.70% | +0.09 |
| APP AppLovin Corp. Class A | Add +748.3% | 0.10% | +0.09 |
| FNV Franco-Nevada Corp. | Add +8.1% | 0.39% | +0.09 |
| RY Royal Bank of Canada | Add +0.1% | 5.21% | +0.08 |
| KGC Kinross Gold Corp. | Add +10.7% | 0.21% | +0.08 |
| TRP TC Energy Corp. | Add +2.8% | 1.66% | +0.08 |
| IVV iShares Core S&P 500 ETF | Add +26.8% | 0.39% | +0.08 |
| ENB Enbridge Inc. | Add +2.6% | 2.35% | +0.08 |
| GIL Gildan Activewear Inc. | Add +173.9% | 0.11% | +0.08 |
| BN Brookfield Corp. | Add +4.8% | 1.70% | +0.08 |
| ITA iShares U.S. Aerospace & Def | Add +170.5% | 0.09% | +0.06 |
| B Barrick Mining Corp. | Add +39.4% | 0.10% | +0.05 |
| GE General Electric | Add +2.1% | 0.47% | +0.05 |
| VOO Vanguard S&P 500 ETF | Add +30.6% | 0.22% | +0.05 |
| TECK Teck Resources Ltd.-CLS B | Add +8.1% | 0.56% | +0.04 |
| JNJ Johnson & Johnson | Add +0.7% | 0.49% | +0.04 |
| BNY Bank of New York Mellon Corp. | Add +23.1% | 0.17% | +0.04 |
| VGSH Vanguard Short-Term Treasury | Add +2362.4% | 0.04% | +0.04 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +4.1% | 1.61% | +0.04 |
| MMM 3M Co. | Add +1069.6% | 0.05% | +0.04 |
| KWEB Kranesh Csi China Internet | Add +905.9% | 0.04% | +0.04 |
| HAS Hasbro Inc. | Add +4246.5% | 0.04% | +0.04 |
| GDX Vaneck Gold Miners ETF | Add +1.1% | 0.14% | +0.04 |
| HBM Hudbay Minerals Inc. | Add +183.0% | 0.05% | +0.04 |
| IMO Imperial Oil Ltd. | Add +9.5% | 0.34% | +0.04 |
| OTEX Open Text Corp. | Add +3.9% | 0.23% | +0.04 |
| PBA Pembina Pipeline Corp. | Add +12.9% | 0.43% | +0.04 |
| VWO Vanguard Ftse Emerging Marke | Add +14.3% | 0.28% | +0.04 |
| TSM Taiwan Semiconductor-SP ADR | Add +2.9% | 0.20% | +0.03 |
| GD General Dynamics Corp. | Add +11.4% | 0.23% | +0.03 |
| ORLY O'reilly Automotive Inc. | Add +41.7% | 0.10% | +0.03 |
| AMD Advanced Micro Devices | Add +22.6% | 0.13% | +0.03 |
| AU Anglogold Ashanti PLC | Add +7649800.0% | 0.03% | +0.03 |
| HWM Howmet Aerospace Inc. | Add +56.7% | 0.09% | +0.03 |
| WBD Warner Bros Discovery Inc. | Add +527.3% | 0.03% | +0.03 |
| RTX RTX Corp. | Add +15.2% | 0.17% | +0.03 |
| FTI Technipfmc PLC | New | 0.03% | +0.03 |
Notes & Other Activity Q2 2025 → Q3 2025
| CVE.WS Cenovus Energy Inc. -CW26 | *W EXP 01/01/202 | Reduce -6.5% | 1,047 | $12K |
| NESRW National Energy Service-CW23 | *W EXP 06/06/202 | Sold out | 18,300 | $9Kbefore exit |
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 |