TD Waterhouse Canada Inc.
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 27, 2026), TD Waterhouse Canada Inc. reported 2,034 stock positions worth $16.1 billion. Its top holding was Royal Bank of Canada (RY) at 5.7% of the portfolio, followed by Toronto-Dominion Bank (TD, 5.4%) and Microsoft (MSFT, 2.9%). Compared with Q3 2025, it opened 128 new positions, sold out of 157, added to 727 and reduced 613. The biggest buy was Gildan Activewear (GIL, shares +329%) and the biggest sale Telus (TU, shares −20%).
- Most Recent 13F
- Q2 2026
- Location
- TORONTO, A6
- CIK
- 0001999606
- Portfolio Value
- $16.1B (Q4 2025)
- SEC Filing
- 0002052595-26-000003 ↗ filed Jan 27, 2026
Holdings Value
Holdings 2,034 stocks · $16.1B
| RY Royal Bank of Canada | 5.75% | 5,420,773 | $924.1M | Reduce -0.1% |
| TD Toronto-Dominion Bank | 5.44% | 9,282,285 | $874.3M | Reduce -0.1% |
| MSFT Microsoft Corp. | 2.90% | 962,834 | $465.6M | Add +1.4% |
| AAPL Apple Inc. | 2.56% | 1,513,518 | $411.4M | Add +1.0% |
| ENB Enbridge Inc. | 2.18% | 7,344,980 | $350.8M | Add +1.4% |
| BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA HALIFAX | 2.14% | 4,659,099 | $343.4M | Reduce -1.0% |
| JPM JPMorgan Chase & Co. | 1.96% | 977,951 | $315.2M | Reduce -1.9% |
| CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BANK OF CO | 1.90% | 3,366,305 | $304.9M | Add +3.1% |
| BMO Bank of Montreal filed as BANK MONTREAL QUE | 1.87% | 2,316,589 | $300.8M | Reduce -2.5% |
| BN Brookfield Corp. | 1.73% | 6,078,402 | $278.6M | Add +5.3% |
| AMZN Amazon.com Inc. | 1.68% | 1,171,045 | $270.3M | Add +3.0% |
| NVDA Nvidia Corp. | 1.66% | 1,432,086 | $267.1M | Reduce -0.0% |
| FTS Fortis Inc. | 1.66% | 5,138,553 | $266.9M | Add +4.1% |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.64% | 386,675 | $263.6M | Add +4.8% |
| TRP TC Energy Corp. | 1.64% | 4,806,132 | $263.5M | Add +1.2% |
| GOOG Alphabet Inc. Class C | 1.57% | 804,840 | $252.6M | Add +2.6% |
| MFC Manulife Financial Corp. | 1.55% | 6,886,799 | $249.9M | Add +0.4% |
| V Visa Inc. Class A | 1.49% | 682,722 | $239.5M | Add +2.6% |
| CNQ Canadian Natural Resources | 1.42% | 6,758,445 | $228.7M | Add +4.9% |
| GOOGL Alphabet Inc. Class A | 1.24% | 634,820 | $198.7M | Reduce -4.8% |
| CNI Canadian Natl Railway Co. | 1.22% | 1,978,313 | $195.6M | Add +5.5% |
| SU Suncor Energy Inc. | 1.20% | 4,335,563 | $192.2M | Reduce -3.3% |
| AEM Agnico Eagle Mines Ltd. | 1.12% | 1,061,709 | $179.9M | Reduce -6.3% |
| COST Costco Wholesale Corp. | 1.00% | 186,468 | $160.8M | Add +7.3% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.94% | 300,446 | $151.0M | Add +1.1% |
| NTR Nutrien Ltd. | 0.90% | 2,359,022 | $145.3M | Add +4.2% |
| SLF Sun Life Financial Inc. | 0.85% | 2,187,623 | $136.4M | Add +10.9% |
| AVGO Broadcom Inc. | 0.83% | 385,186 | $133.3M | Reduce -7.2% |
| CP Canadian Pacific Kansas City | 0.78% | 1,708,432 | $125.7M | Add +2.6% |
| META Meta Platforms Inc. Class A | 0.78% | 189,631 | $125.1M | Reduce -1.5% |
| TU Telus Corp. | 0.76% | 9,227,684 | $121.4M | Reduce -20.2% |
| VEA Vanguard Ftse Developed ETF | 0.74% | 1,916,820 | $119.7M | Add +16.3% |
| WMT Walmart Inc. | 0.63% | 909,209 | $101.3M | Reduce -0.2% |
| LLY Eli Lilly & Co. | 0.63% | 93,626 | $100.6M | Add +6.0% |
| HD Home Depot Inc. | 0.63% | 292,137 | $100.5M | Add +1.5% |
| EMA Emera Inc. | 0.61% | 2,001,002 | $98.4M | Add +2.2% |
| MCD McDonald's Corp. | 0.58% | 303,009 | $92.6M | Reduce -6.4% |
| PANW Palo Alto Networks Inc. | 0.57% | 501,300 | $92.3M | Add +2.6% |
| RCI Rogers Communications Inc. Class B | 0.57% | 2,446,406 | $92.2M | Add +1.4% |
| JNJ Johnson & Johnson | 0.56% | 434,592 | $89.9M | Add +7.6% |
| TECK Teck Resources Ltd.-CLS B | 0.55% | 1,858,869 | $88.9M | Reduce -5.3% |
| WPM Wheaton Precious Metals Corp. | 0.54% | 744,179 | $86.8M | Reduce -8.0% |
| SHOP Shopify Inc. Class A | 0.51% | 514,293 | $82.7M | Reduce -15.3% |
| QCOM Qualcomm Inc. | 0.50% | 466,650 | $79.8M | Add +33.9% |
| GIL Gildan Activewear Inc. | 0.49% | 1,267,015 | $78.9M | Add +329.1% |
| C Citigroup Inc. | 0.49% | 672,307 | $78.4M | Add +4.2% |
| BAM Brookfield Asset Mgmt-A | 0.48% | 1,469,635 | $76.9M | Add +1.0% |
| CVE Cenovus Energy Inc. | 0.46% | 4,383,603 | $74.1M | Add +15.0% |
| MA Mastercard Inc. Class A | 0.46% | 128,605 | $73.4M | Add +4.2% |
| GE General Electric filed as GE AEROSPACE | 0.45% | 234,907 | $72.4M | Reduce -2.1% |
| XLK SS Technology Select Sector | 0.43% | 475,711 | $68.4M | Add +3.3% |
| ORCL Oracle Corp. | 0.42% | 345,180 | $67.3M | Reduce -18.2% |
| QSR Restaurant Brands Intern | 0.41% | 974,201 | $66.2M | Reduce -15.6% |
| PBA Pembina Pipeline Corp. | 0.40% | 1,703,413 | $64.8M | Add +2.5% |
| WCN Waste Connections Inc. | 0.39% | 364,682 | $63.2M | Reduce -12.8% |
| IVV iShares Core S&P 500 ETF | 0.39% | 92,200 | $63.1M | Add +2.6% |
| GIB Cgi Inc. | 0.39% | 683,532 | $63.1M | Add +1.2% |
| GS Goldman Sachs Group Inc. | 0.38% | 69,333 | $60.9M | Reduce -6.1% |
| SYK Stryker Corp. | 0.37% | 171,354 | $60.2M | Reduce -1.5% |
| VOO Vanguard S&P 500 ETF | 0.37% | 94,347 | $59.2M | Add +73.5% |
| FNV Franco-Nevada Corp. | 0.36% | 284,337 | $58.6M | Add +3.1% |
| GLD SPDR Gold Shares | 0.36% | 147,509 | $58.5M | Add +7.8% |
| PG The Procter & Gamble Co. | 0.36% | 407,517 | $58.4M | Add +1.9% |
| CAT Caterpillar Inc. | 0.36% | 101,065 | $57.9M | Add +63.2% |
| BIP Brookfield Infrastructure Pa | 0.36% | 1,665,061 | $57.8M | Add +7.0% |
| CCJ Cameco Corp. | 0.35% | 616,542 | $56.4M | Reduce -13.9% |
| BIPC Brookfield Infrastructure-A | 0.34% | 1,225,171 | $55.4M | Add +2.6% |
| VWO Vanguard Ftse Emerging Marke | 0.32% | 965,642 | $51.9M | Add +22.5% |
| PLTR Palantir Technologies Inc. Class A | 0.32% | 290,937 | $51.7M | Reduce -9.3% |
| MS Morgan Stanley | 0.30% | 273,507 | $48.6M | Add +31.4% |
| NEM Newmont Corp. | 0.30% | 484,568 | $48.4M | Reduce -25.2% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.30% | 879,710 | $48.4M | Reduce -1.8% |
| QQQ Invesco QQQ Trust Series 1 | 0.29% | 77,219 | $47.4M | Add +2.5% |
| BEPC Brookfield Renewable Corp. | 0.29% | 1,232,508 | $47.2M | Reduce -1.4% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.29% | 304,061 | $46.7M | Add +0.3% |
| IMO Imperial Oil Ltd. | 0.28% | 527,608 | $45.4M | Reduce -9.5% |
| SRE Sempra | 0.28% | 513,153 | $45.3M | Add +5.0% |
| STN Stantec Inc. | 0.28% | 470,442 | $44.3M | Add +6.7% |
| XLV SS Health Care Select Sector | 0.26% | 270,604 | $41.9M | Add +13.4% |
| TSLA Tesla Inc. | 0.26% | 92,716 | $41.7M | Add +1.0% |
| B Barrick Mining Corp. | 0.25% | 923,397 | $40.2M | Add +103.5% |
| IGF iShares Global Infrastructur | 0.24% | 635,672 | $39.0M | Add +17.3% |
| BBU Brookfield Business PT-Unit | 0.23% | 1,092,963 | $37.5M | Reduce -2.4% |
| GD General Dynamics Corp. | 0.23% | 110,339 | $37.1M | Add +4.6% |
| VZ Verizon Communications Inc. | 0.23% | 905,359 | $36.9M | Reduce -7.0% |
| SOBO South Bow Corp. | 0.23% | 1,336,103 | $36.7M | Add +7.5% |
| MGA Magna International Inc. | 0.23% | 689,923 | $36.7M | Reduce -25.0% |
| BX Blackstone Inc. | 0.22% | 234,240 | $36.1M | Add +6.3% |
| IAU iShares Gold Trust | 0.22% | 439,095 | $35.6M | Add +8.6% |
| IVE iShares S&P 500 Value ETF | 0.22% | 165,522 | $35.1M | Add +5.3% |
| LOW Lowe's Cos Inc. | 0.22% | 144,447 | $34.8M | Add +50.2% |
| TIP iShares Tips Bond ETF | 0.22% | 316,647 | $34.8M | Add +9.7% |
| UNH Unitedhealth Group Inc. | 0.21% | 103,907 | $34.3M | Reduce -26.5% |
| KGC Kinross Gold Corp. | 0.21% | 1,208,270 | $34.0M | Reduce -4.0% |
| TSM Taiwan Semiconductor-SP ADR | 0.21% | 111,839 | $34.0M | Add +2.7% |
| GEHC GE Healthcare Technology | 0.20% | 398,119 | $32.7M | Add +7.9% |
| AXP American Express Co. | 0.20% | 87,655 | $32.4M | Add +4.7% |
| ETN Eaton Corp. PLC | 0.20% | 99,661 | $31.7M | Add +7.4% |
| CLS Celestica Inc. | 0.20% | 107,559 | $31.7M | Reduce -17.3% |
| PAAS Pan American Silver Corp. | 0.20% | 610,203 | $31.6M | Add +2666.0% |
Other holdings (8): bonds, preferreds, convertibles and warrants · $18K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| CVE.WS Cenovus Energy Inc. -CW26 | *W EXP 01/01/202 | 738 | $10K | Reduce -29.5% |
| OXY.WS Occidental Petroleum-CW27 | *W EXP 08/03/202 | 297 | $6K | Reduce -65.5% |
| GME.WS Gamestop Corp. | *W EXP 10/30/202 | 523 | $2K | Add +6.8% |
| RVMDW Revolution Medicines Inc.-28 | *W EXP 12/17/202 | 448 | $394 | No change |
| OPENW Opendoor Technologies Inc.-26 | *W EXP 11/20/202 | 63 | $57 | No change |
| OPENL Opendoor Technologies Inc.-26 | *W EXP 11/20/202 | 63 | $33 | New |
| OPENZ Opendoor Technologies Inc.-26 | *W EXP 11/20/202 | 63 | $25 | New |
| AMPWF Ardagh Metal Packaging -CW26 | *W EXP 08/04/202 | 200 | $0 | No change |
Total filed on the 13F, all lines: $16.1B.
Portfolio Sells Q3 2025 → Q4 2025
| TU Telus Corp. | Reduce -20.2% | 0.76% | −0.44 |
| ORCL Oracle Corp. | Reduce -18.2% | 0.42% | −0.38 |
| NFLX Netflix Inc. | Reduce -44.2% | 0.18% | −0.24 |
| STX Seagate Technology Holdings | Reduce -84.6% | 0.04% | −0.23 |
| RCL Royal Caribbean Cruises Ltd. | Reduce -93.8% | 0.01% | −0.20 |
| AEM Agnico Eagle Mines Ltd. | Reduce -6.3% | 1.12% | −0.14 |
| BMO Bank of Montreal | Reduce -2.5% | 1.87% | −0.14 |
| T AT&T Inc. | Reduce -43.8% | 0.12% | −0.12 |
| META Meta Platforms Inc. Class A | Reduce -1.5% | 0.78% | −0.12 |
| UNH Unitedhealth Group Inc. | Reduce -26.5% | 0.21% | −0.11 |
| FSV Firstservice Corp. | Reduce -69.1% | 0.03% | −0.10 |
| ABBV Abbvie Inc. | Reduce -49.4% | 0.08% | −0.09 |
| ANET Arista Networks Inc. | Reduce -26.3% | 0.15% | −0.09 |
| QSR Restaurant Brands Intern | Reduce -15.6% | 0.41% | −0.09 |
| NVDA Nvidia Corp. | Reduce -0.0% | 1.66% | −0.09 |
| SHOP Shopify Inc. Class A | Reduce -15.3% | 0.51% | −0.08 |
| ATS Ats Corp. | Reduce -32.4% | 0.16% | −0.08 |
| WCN Waste Connections Inc. | Reduce -12.8% | 0.39% | −0.08 |
| NOW ServiceNow Inc. | Reduce -47.0% | 0.05% | −0.07 |
| AVGO Broadcom Inc. | Reduce -7.2% | 0.83% | −0.07 |
| BKNG Booking Holdings Inc. | Reduce -32.3% | 0.12% | −0.07 |
| OTEX Open Text Corp. | Reduce -14.4% | 0.17% | −0.07 |
| PLTR Palantir Technologies Inc. Class A | Reduce -9.3% | 0.32% | −0.06 |
| DIS The Walt Disney Co. | Reduce -22.1% | 0.18% | −0.06 |
| IMO Imperial Oil Ltd. | Reduce -9.5% | 0.28% | −0.06 |
| MCD McDonald's Corp. | Reduce -6.4% | 0.58% | −0.06 |
| JPM JPMorgan Chase & Co. | Reduce -1.9% | 1.96% | −0.06 |
| BCE Bce Inc. | Reduce -19.3% | 0.20% | −0.06 |
| NEM Newmont Corp. | Reduce -25.2% | 0.30% | −0.05 |
| MRSH Marsh & McLennan Cos | Reduce -35.4% | 0.07% | −0.05 |
| MGA Magna International Inc. | Reduce -25.0% | 0.23% | −0.05 |
| ARTY iShares Future AI & Tech ETF | Reduce -47.7% | 0.05% | −0.05 |
| VZ Verizon Communications Inc. | Reduce -7.0% | 0.23% | −0.05 |
| WPM Wheaton Precious Metals Corp. | Reduce -8.0% | 0.54% | −0.05 |
| DKNG Draftkings Inc. Class A | Reduce -98.9% | 0.00% | −0.04 |
| SPOT Spotify Technology SA | Reduce -81.0% | 0.01% | −0.04 |
| JEPI JPMorgan Equity Premium Inco | Reduce -69.4% | 0.02% | −0.04 |
| CCJ Cameco Corp. | Reduce -13.9% | 0.35% | −0.04 |
| SYK Stryker Corp. | Reduce -1.5% | 0.37% | −0.04 |
| MELI MercadoLibre Inc. | Reduce -92.0% | 0.00% | −0.04 |
| HAS Hasbro Inc. | Reduce -93.8% | 0.00% | −0.04 |
| UBER Uber Technologies Inc. | Reduce -16.0% | 0.07% | −0.03 |
| LIN Linde PLC | Reduce -16.4% | 0.09% | −0.03 |
| GFI Gold Fields Ltd.-Spons ADR | Reduce -98.8% | 0.00% | −0.03 |
| EWS iShares MSCI Singapore ETF | Reduce -53.7% | 0.02% | −0.03 |
| WBD Warner Bros Discovery Inc. | Reduce -94.0% | 0.00% | −0.03 |
| PDI PIMCO Dynamic Income Fund | Reduce -4.2% | 0.13% | −0.03 |
| DD Dupont DE Nemours Inc. | Reduce -79.1% | 0.00% | −0.03 |
| BRK.A Berkshire Hathaway Inc. Class A | Reduce -85.7% | 0.00% | −0.03 |
| BCD Abrdn Bloomberg All Commodit | Sold out | 0.00% | −0.03 |
Portfolio Buys Q3 2025 → Q4 2025
| GIL Gildan Activewear Inc. | Add +329.1% | 0.49% | +0.38 |
| GOOG Alphabet Inc. Class C | Add +2.6% | 1.57% | +0.32 |
| CM Can Imperial BK of Commerce | Add +3.1% | 1.90% | +0.20 |
| PAAS Pan American Silver Corp. | Add +2666.0% | 0.20% | +0.19 |
| CAT Caterpillar Inc. | Add +63.2% | 0.36% | +0.17 |
| LLY Eli Lilly & Co. | Add +6.0% | 0.63% | +0.15 |
| VOO Vanguard S&P 500 ETF | Add +73.5% | 0.37% | +0.15 |
| MFC Manulife Financial Corp. | Add +0.4% | 1.55% | +0.15 |
| B Barrick Mining Corp. | Add +103.5% | 0.25% | +0.15 |
| QCOM Qualcomm Inc. | Add +33.9% | 0.50% | +0.12 |
| CNQ Canadian Natural Resources | Add +4.9% | 1.42% | +0.10 |
| VEA Vanguard Ftse Developed ETF | Add +16.3% | 0.74% | +0.09 |
| GM General Motors Co. | Add +5639.8% | 0.09% | +0.09 |
| MS Morgan Stanley | Add +31.4% | 0.30% | +0.09 |
| EXPE Expedia Group Inc. | Add +803.4% | 0.08% | +0.07 |
| C Citigroup Inc. | Add +4.2% | 0.49% | +0.07 |
| CVE Cenovus Energy Inc. | Add +15.0% | 0.46% | +0.07 |
| JNJ Johnson & Johnson | Add +7.6% | 0.56% | +0.07 |
| NTR Nutrien Ltd. | Add +4.2% | 0.90% | +0.07 |
| CNI Canadian Natl Railway Co. | Add +5.5% | 1.22% | +0.06 |
| AAPL Apple Inc. | Add +1.0% | 2.56% | +0.06 |
| INTC Intel Corp. | Add +112.5% | 0.12% | +0.06 |
| LOW Lowe's Cos Inc. | Add +50.2% | 0.22% | +0.06 |
| HOOD Robinhood Markets Inc. Class A | Add +197.3% | 0.09% | +0.05 |
| SLF Sun Life Financial Inc. | Add +10.9% | 0.85% | +0.05 |
| MU Micron Technology Inc. | Add +48.5% | 0.09% | +0.05 |
| ZS Zscaler Inc. | Add +395.1% | 0.07% | +0.05 |
| LRCX Lam Research Corp. | Add +145.9% | 0.07% | +0.05 |
| GLD SPDR Gold Shares | Add +7.8% | 0.36% | +0.04 |
| AMZN Amazon.com Inc. | Add +3.0% | 1.68% | +0.04 |
| VRT Vertiv Holdings Co. Class A | Add +3803.1% | 0.04% | +0.04 |
| APH Amphenol Corp. Class A | Add +53.5% | 0.11% | +0.04 |
| VWO Vanguard Ftse Emerging Marke | Add +22.5% | 0.32% | +0.04 |
| EWI iShares MSCI Italy ETF | New | 0.04% | +0.04 |
| XLI SS Industrial Select Sector | Add +80.7% | 0.09% | +0.04 |
| IVES Dan Wedbush AI Rev ETF | Add +342.2% | 0.05% | +0.04 |
| FTS Fortis Inc. | Add +4.1% | 1.66% | +0.04 |
| MRK Merck & Co. Inc. | Add +11.9% | 0.19% | +0.04 |
| XLV SS Health Care Select Sector | Add +13.4% | 0.26% | +0.04 |
| RCI Rogers Communications Inc. Class B | Add +1.4% | 0.57% | +0.03 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +4.8% | 1.64% | +0.03 |
| BN Brookfield Corp. | Add +5.3% | 1.73% | +0.03 |
| VCIT Vanguard Int-Term Corporate | Add +1133.0% | 0.03% | +0.03 |
| IAU iShares Gold Trust | Add +8.6% | 0.22% | +0.03 |
| PRM Perimeter Solutions Inc. | Add +245.1% | 0.04% | +0.03 |
| COHR Coherent Corp. | New | 0.03% | +0.03 |
| IBM Intl Business Machines Corp. | Add +19.2% | 0.18% | +0.03 |
| GRNJ Fundstr Gran SH US SM & Mid | New | 0.03% | +0.03 |
| SCHW Schwab (charles) Corp. | Add +622.4% | 0.03% | +0.03 |
| SOXX iShares Semiconductor ETF | Add +20.0% | 0.13% | +0.03 |
Notes & Other Activity Q3 2025 → Q4 2025
| CVE.WS Cenovus Energy Inc. -CW26 | *W EXP 01/01/202 | Reduce -29.5% | 738 | $10K |
| OXY.WS Occidental Petroleum-CW27 | *W EXP 08/03/202 | Reduce -65.5% | 297 | $6K |
| GME.WS Gamestop Corp. | *W EXP 10/30/202 | Add +6.8% | 523 | $2K |
| OPENL Opendoor Technologies Inc.-26 | *W EXP 11/20/202 | New | 63 | $33 |
| OPENZ Opendoor Technologies Inc.-26 | *W EXP 11/20/202 | New | 63 | $25 |
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 |