Value Partners Investments Inc.

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 8, 2026), Value Partners Investments Inc. reported 100 stock positions worth $1.3 billion. Its top holding was Alphabet Class A (GOOGL) at 6.6% of the portfolio, followed by Bank of Nova Scotia (BNS, 5.6%) and Can Imperial BK of Commerce (CM, 5.5%). Compared with Q3 2025, it opened 3 new positions, sold out of 4, added to 69 and reduced 16. The biggest buy was Accenture Class A (ACN, shares +1985%) and the biggest sale Open Text (OTEX, shares −17%).

Most Recent 13F
Q2 2026
Location
WINNIPEG, A2
CIK
0001800916
Portfolio Value
$1.3B (Q4 2025)
SEC Filing
0001062993-26-000104 ↗ filed Jan 8, 2026

Holdings Value

0$500.0M$1.0B$1.5B Q1 2024: $1.2B Q1 2024 Q2 2024: $1.2B Q2 2024 Q3 2024: $1.2B Q3 2024 Q4 2024: $177.2M Q4 2024 Q1 2025: $1.2B Q1 2025 Q2 2025: $1.3B Q2 2025 Q3 2025: $1.2B Q3 2025 Q4 2025: $1.3B $1.3B Q4 2025 Q1 2026: $1.3B Q1 2026 Q2 2026: $1.4B Q2 2026

Holdings 100 stocks · $1.3B
GOOGL Alphabet Inc. Class A 6.58% 274,068 $85.8M Reduce -9.9%
BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA HALIFAX 5.56% 982,637 $72.6M Reduce -12.2%
CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BANK OF CO 5.52% 792,321 $71.9M Reduce -8.3%
SLF Sun Life Financial Inc. 5.39% 1,123,812 $70.3M Add +0.4%
RCI Rogers Communications Inc. Class B 4.72% 1,629,783 $61.6M Reduce -28.2%
OTEX Open Text Corp. 4.64% 1,857,455 $60.6M Reduce -16.5%
BMO Bank of Montreal filed as BANK MONTREAL QUE 4.64% 465,338 $60.5M Reduce -9.0%
CNI Canadian Natl Railway Co. 4.59% 604,155 $59.8M Add +0.4%
CRM Salesforce Inc. 4.50% 221,576 $58.7M Add +17.2%
MGA Magna International Inc. 4.44% 1,084,639 $57.9M Add +0.2%
RY Royal Bank of Canada 4.33% 331,067 $56.5M Add +0.1%
MFC Manulife Financial Corp. 4.24% 1,518,938 $55.2M Reduce -0.1%
FDX FedEx Corp. 4.02% 181,295 $52.4M Add +0.1%
AMZN Amazon.com Inc. 3.85% 217,211 $50.1M Add +0.2%
ACN Accenture PLC Class A 3.66% 177,624 $47.7M Add +1984.8%
CVS CVS Health Corp. 3.35% 551,216 $43.8M Add +0.4%
MSFT Microsoft Corp. 3.13% 84,412 $40.8M Add +1.5%
CP Canadian Pacific Kansas City 2.92% 517,216 $38.1M Add +0.3%
HD Home Depot Inc. 1.60% 60,766 $20.9M Add +0.2%
FMX Fomento Economico Mex-SP ADR 1.06% 137,109 $13.9M No change
YUMC Yum China Holdings Inc. 0.87% 236,659 $11.3M Add +4.4%
UBS UBS Group AG-Reg 0.85% 240,090 $11.1M No change
HDB HDFC Bank Ltd.-ADR 0.82% 294,084 $10.7M No change
SAP Sap SE-Sponsored ADR 0.78% 42,042 $10.2M Add +2.5%
MDT Medtronic PLC 0.78% 105,546 $10.1M Add +10.5%
RACE Ferrari NV 0.57% 20,072 $7.4M Add +99.3%
UNH Unitedhealth Group Inc. 0.52% 20,454 $6.8M Reduce -8.6%
V Visa Inc. Class A 0.47% 17,455 $6.1M Add +4.9%
FTS Fortis Inc. 0.45% 113,043 $5.9M Add +1.7%
TMO Thermo Fisher Scientific Inc. 0.43% 9,650 $5.6M Reduce -7.6%
TD Toronto-Dominion Bank 0.36% 49,288 $4.7M Add +1.1%
PEP Pepsico Inc. 0.35% 32,047 $4.6M No change
SPGI S&P Global Inc. 0.34% 8,400 $4.4M Add +20.0%
TGT Target Corp. 0.33% 44,000 $4.3M No change
VZ Verizon Communications Inc. 0.32% 102,204 $4.2M Add +24.3%
PFE Pfizer Inc. 0.31% 164,624 $4.1M Add +0.4%
AMT American Tower Corp. 0.29% 21,199 $3.7M Add +18.4%
DPZ Domino's Pizza Inc. 0.27% 8,323 $3.5M Add +0.8%
DEO Diageo PLC-Sponsored ADR 0.27% 40,214 $3.5M Add +4.4%
MDLZ Mondelez International Inc. Class A 0.26% 63,935 $3.4M No change
GIS General Mills Inc. 0.26% 73,000 $3.4M No change
CPB The Campbell's Company 0.25% 117,000 $3.3M No change
MA Mastercard Inc. Class A 0.25% 5,687 $3.3M Add +0.1%
ODFL Old Dominion Freight Line 0.24% 20,103 $3.2M Add +38.7%
LLY Eli Lilly & Co. 0.24% 2,857 $3.1M Reduce -11.8%
AMAT Applied Materials Inc. 0.23% 11,424 $2.9M Reduce -24.0%
APH Amphenol Corp. Class A 0.22% 21,478 $2.9M New
MCK McKesson Corp. 0.22% 3,533 $2.9M Add +0.7%
WAB Wabtec Corp. 0.22% 13,553 $2.9M Add +0.1%
MCO Moody's Corp. 0.22% 5,557 $2.8M Add +1.1%
GE General Electric filed as GE AEROSPACE 0.21% 9,024 $2.8M Reduce -14.4%
IBKR Interactive Brokers Gro Class A 0.21% 41,904 $2.7M New
INTU Intuit Inc. 0.20% 3,963 $2.6M Add +0.4%
AVGO Broadcom Inc. 0.20% 7,532 $2.6M Reduce -23.2%
SHW The Sherwin-Williams Co. 0.20% 7,959 $2.6M Add +1.7%
MSCI MSCI Inc. 0.20% 4,452 $2.6M Add +1.3%
CTAS Cintas Corp. 0.19% 13,405 $2.5M Add +0.8%
CARR Carrier Global Corp. 0.19% 47,651 $2.5M Add +41.2%
BRK.B Berkshire Hathaway Inc. Class B 0.19% 4,806 $2.4M Add +3.8%
BN Brookfield Corp. 0.18% 51,031 $2.3M Add +4.3%
ENB Enbridge Inc. 0.17% 47,379 $2.3M Add +0.7%
ICE Intercontinental Exchange Inc. 0.16% 13,189 $2.1M Add +7.1%
WPM Wheaton Precious Metals Corp. 0.16% 17,596 $2.1M Add +3.8%
MRK Merck & Co. Inc. 0.14% 16,867 $1.8M Add +5.4%
BIP Brookfield Infrastructure Pa 0.14% 50,785 $1.8M Add +3.8%
TFII Tfi International Inc. 0.13% 16,955 $1.8M Add +5.4%
AME Ametek Inc. 0.13% 8,250 $1.7M Add +4.8%
CNQ Canadian Natural Resources 0.13% 48,333 $1.6M Add +2.1%
NVS Novartis AG-Sponsored ADR 0.12% 11,010 $1.5M Add +18.9%
BGSI Boyd Group Services Inc. 0.11% 9,219 $1.5M New
DHR Danaher Corp. 0.11% 6,412 $1.5M Add +21.9%
AON Aon PLC Class A 0.11% 4,007 $1.4M Add +19.5%
UL Unilever PLC-Sponsored ADR 0.10% 19,917 $1.3M Add +22.1%
HON Honeywell International Inc. 0.10% 6,654 $1.3M Add +19.2%
CSCO Cisco Systems Inc. 0.10% 16,297 $1.3M Add +17.1%
TSM Taiwan Semiconductor-SP ADR 0.09% 3,890 $1.2M Add +4.6%
LIN Linde PLC 0.08% 2,580 $1.1M Add +47.9%
KLAC KLA Corp. 0.08% 895 $1.1M Add +1.1%
BDX Becton Dickinson and Co. 0.08% 5,600 $1.1M Add +18.0%
TSLA Tesla Inc. 0.08% 2,251 $1.0M No change
AAPL Apple Inc. 0.08% 3,674 $1.0M Reduce -13.2%
DE Deere & Co. 0.07% 2,082 $970K Add +18.1%
HEI Heico Corp. 0.07% 2,796 $906K Add +5.2%
VLTO Veralto Corp. 0.07% 8,838 $883K Add +19.6%
TXN Texas Instruments Inc. 0.07% 4,988 $867K Add +7.0%
MEOH Methanex Corp. 0.06% 20,815 $827K Add +4.9%
TRI Thomson Reuters Corp. 0.06% 5,969 $789K Add +8.1%
BSY Bentley Systems Inc. Class B 0.06% 20,196 $772K No change
LOW Lowe's Cos Inc. 0.06% 3,175 $767K Reduce -34.8%
ROP Roper Technologies Inc. 0.05% 1,401 $624K Add +7.0%
WM Waste Management Inc. 0.04% 2,637 $579K Add +51.9%
TRP TC Energy Corp. 0.04% 10,252 $565K Add +4.6%
DSGX The Descartes Systems Grp 0.04% 6,335 $557K Add +7.6%
AQN Algonquin Power & Utilities 0.04% 87,404 $538K Add +49.8%
META Meta Platforms Inc. Class A 0.04% 786 $520K Add +6.9%
SU Suncor Energy Inc. 0.03% 9,485 $422K Add +10.7%
IGSB iShares 1-5Y Inv Grade Corp. 0.03% 6,833 $362K No change
GOOG Alphabet Inc. Class C 0.03% 1,070 $336K Add +0.3%
IEI iShares 3-7 Year Treasury Bo 0.02% 2,605 $311K No change
TU Telus Corp. 0.01% 11,857 $156K Reduce -26.6%

Portfolio Sells Q3 2025 → Q4 2025
OTEX Open Text Corp. Reduce -16.5% 4.64% −2.14
RCI Rogers Communications Inc. Class B Reduce -28.2% 4.72% −1.65
BMO Bank of Montreal Reduce -9.0% 4.64% −0.80
BNS Bank of Nova Scotia Reduce -12.2% 5.56% −0.34
INFY Infosys Ltd.-SP ADR Sold out 0.00% −0.27
MRSH Marsh & McLennan Cos Sold out 0.00% −0.20
ZTS Zoetis Inc. Sold out 0.00% −0.17
CM Can Imperial BK of Commerce Reduce -8.3% 5.52% −0.12
UNH Unitedhealth Group Inc. Reduce -8.6% 0.52% −0.11
AVGO Broadcom Inc. Reduce -23.2% 0.20% −0.06
GE General Electric Reduce -14.4% 0.21% −0.05
LOW Lowe's Cos Inc. Reduce -34.8% 0.06% −0.04
GLD SPDR Gold Shares Sold out 0.00% −0.03
AMAT Applied Materials Inc. Reduce -24.0% 0.23% −0.03
AAPL Apple Inc. Reduce -13.2% 0.08% −0.01
TU Telus Corp. Reduce -26.6% 0.01% −0.01
TMO Thermo Fisher Scientific Inc. Reduce -7.6% 0.43% +0.02
LLY Eli Lilly & Co. Reduce -11.8% 0.24% +0.03
MFC Manulife Financial Corp. Reduce -0.1% 4.24% +0.37
GOOGL Alphabet Inc. Class A Reduce -9.9% 6.58% +0.55

Portfolio Buys Q3 2025 → Q4 2025
ACN Accenture PLC Class A Add +1984.8% 3.66% +3.48
CRM Salesforce Inc. Add +17.2% 4.50% +0.85
FDX FedEx Corp. Add +0.1% 4.02% +0.53
RY Royal Bank of Canada Add +0.1% 4.33% +0.36
MGA Magna International Inc. Add +0.2% 4.44% +0.25
APH Amphenol Corp. Class A New 0.22% +0.22
IBKR Interactive Brokers Gro Class A New 0.21% +0.21
RACE Ferrari NV Add +99.3% 0.57% +0.17
BGSI Boyd Group Services Inc. New 0.11% +0.11
ODFL Old Dominion Freight Line Add +38.7% 0.24% +0.08
YUMC Yum China Holdings Inc. Add +4.4% 0.87% +0.07
SPGI S&P Global Inc. Add +20.0% 0.34% +0.06
TD Toronto-Dominion Bank Add +1.1% 0.36% +0.04
MDT Medtronic PLC Add +10.5% 0.78% +0.04
CARR Carrier Global Corp. Add +41.2% 0.19% +0.03
DHR Danaher Corp. Add +21.9% 0.11% +0.03
MRK Merck & Co. Inc. Add +5.4% 0.14% +0.03
VZ Verizon Communications Inc. Add +24.3% 0.32% +0.02
NVS Novartis AG-Sponsored ADR Add +18.9% 0.12% +0.02
TFII Tfi International Inc. Add +5.4% 0.13% +0.02
CSCO Cisco Systems Inc. Add +17.1% 0.10% +0.02
LIN Linde PLC Add +47.9% 0.08% +0.02
AQN Algonquin Power & Utilities Add +49.8% 0.04% +0.02
WM Waste Management Inc. Add +51.9% 0.04% +0.01
UL Unilever PLC-Sponsored ADR Add +22.1% 0.10% +0.01
AON Aon PLC Class A Add +19.5% 0.11% +0.01
BDX Becton Dickinson and Co. Add +18.0% 0.08% +0.01
AME Ametek Inc. Add +4.8% 0.13% +0.01
DE Deere & Co. Add +18.1% 0.07% +0.01
V Visa Inc. Class A Add +4.9% 0.47% +0.01
TSM Taiwan Semiconductor-SP ADR Add +4.6% 0.09% +0.01
KLAC KLA Corp. Add +1.1% 0.08% +0.01
GOOG Alphabet Inc. Class C Add +0.3% 0.03% +0.00
AMT American Tower Corp. Add +18.4% 0.29% +0.00
MCO Moody's Corp. Add +1.1% 0.22% +0.00
WPM Wheaton Precious Metals Corp. Add +3.8% 0.16% +0.00
BIP Brookfield Infrastructure Pa Add +3.8% 0.14% +0.00
HON Honeywell International Inc. Add +19.2% 0.10% +0.00
VLTO Veralto Corp. Add +19.6% 0.07% +0.00
SU Suncor Energy Inc. Add +10.7% 0.03% +0.00
CNQ Canadian Natural Resources Add +2.1% 0.13% +0.00
MCK McKesson Corp. Add +0.7% 0.22% +0.00
WAB Wabtec Corp. Add +0.1% 0.22% +0.00
TRP TC Energy Corp. Add +4.6% 0.04% −0.00
HEI Heico Corp. Add +5.2% 0.07% −0.00
MEOH Methanex Corp. Add +4.9% 0.06% −0.00
DSGX The Descartes Systems Grp Add +7.6% 0.04% −0.00
BN Brookfield Corp. Add +4.3% 0.18% −0.00
TXN Texas Instruments Inc. Add +7.0% 0.07% −0.00
META Meta Platforms Inc. Class A Add +6.9% 0.04% −0.00

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 104$1.4BMSFT, CNI, SLF, CRM, HD
Q1 2026 105$1.3BCRM, MSFT, SLF, RCI, CNI
Q4 2025 100$1.3BGOOGL, BNS, CM, SLF, RCI
Q3 2025 101$1.2BOTEX, RCI, GOOGL, BNS, CM
Q2 2025 101$1.3BGOOGL, OTEX, SLF, RCI, BNS
Q1 2025 100$1.2BCVS, GOOGL, SLF, UPS, RCI
Q4 2024Amended 77$177.2MGOOGL, TD, CSCO, SLF, BNS
Q3 2024Amended 89$1.2BCSCO, UPS, OTEX, BNS, CVS
Q2 2024Amended 86$1.2BCSCO, SLF, CVS, UPS, OTEX
Q1 2024Amended 82$1.2BCSCO, CVS, OTEX, SLF, RY