QV Investors Inc. Diversified Active

CIK: 0001570253 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Jan 20, 2026

Total Value ($000): $1,222 (100.0% shares, 0.0% debt)

Holdings (64)

New Positions (6)

SUNC SUNOCOCORP LLC 4.8%

Value ($000) $59 Shares 1,187,664 Est. Cost $49.49 Unrealized 0.0%

CP CANADIAN PACIFIC KANSAS CITY 4.4%

Value ($000) $54 Shares 727,991 Est. Cost $73.60 Unrealized 0.0%

ODFL OLD DOMINION FREIGHT LINE 1.6%

Value ($000) $20 Shares 125,910 Est. Cost $143.18 Unrealized 0.0%

UL UNILEVER PLC-SPONSORED ADR 1.2%

Value ($000) $15 Shares 222,783 Est. Cost $0.07 Unrealized —

HAL HALLIBURTON CO 0.3%

Value ($000) $3 Shares 113,060 Est. Cost $26.29 Unrealized 0.0%

MICC MAGNUM ICE CREAM CO NV/THE 0.1%

Value ($000) $1 Shares 50,126 Est. Cost $15.68 Unrealized 0.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SUNC	SUNOCOCORP LLC	1,187,664	$59	4.8%	$49.49	0.0%	COM	86765Q106
CP	CANADIAN PACIFIC KANSAS CITY	727,991	$54	4.4%	$73.60	0.0%	COM	13646K108
ODFL	OLD DOMINION FREIGHT LINE	125,910	$20	1.6%	$143.18	0.0%	COM	679580100
UL	UNILEVER PLC-SPONSORED ADR	222,783	$15	1.2%	$0.07	—	COM	904767803
HAL	HALLIBURTON CO	113,060	$3	0.3%	$26.29	0.0%	COM	406216101
MICC	MAGNUM ICE CREAM CO NV/THE	50,126	$1	0.1%	$15.68	0.0%	COM	N5505D105

Increased Positions (12)

SBUX STARBUCKS CORP 1.2%

Value ($000) $15 (+106.0%) Shares 175,810 (+106.9%) Est. Cost $82.01 Unrealized +2.5%

CNI CANADIAN NATL RAILWAY CO 5.1%

Value ($000) $62 (+12.8%) Shares 629,069 (+7.4%) Est. Cost $93.37 Unrealized +3.0%

CNC CENTENE CORP 1.6%

Value ($000) $19 (+50.5%) Shares 471,952 (+30.5%) Est. Cost $53.13 Unrealized -29.6%

DG DOLLAR GENERAL CORP 1.5%

Value ($000) $19 (+47.0%) Shares 141,490 (+14.4%) Est. Cost $82.36 Unrealized +35.4%

EL ESTEE LAUDER COMPANIES-CL A 0.9%

Value ($000) $11 (+53.3%) Shares 108,620 (+29.0%) Est. Cost $90.36 Unrealized +7.2%

DRI DARDEN RESTAURANTS INC 0.8%

Value ($000) $10 (+59.4%) Shares 53,872 (+64.8%) Est. Cost $147.12 Unrealized +23.8%

SOLV SOLVENTUM CORP 1.6%

Value ($000) $19 (+10.5%) Shares 239,252 (+1.8%) Est. Cost $63.98 Unrealized +19.7%

XPEL XPEL INC 0.2%

Value ($000) $3 (+146.2%) Shares 51,650 (+63.2%) Est. Cost $39.15 Unrealized +6.8%

BN BROOKFIELD CORP 1.6%

Value ($000) $20 (-6.5%) Shares 425,837 (+39.5%) Est. Cost $44.58 Unrealized +2.2%

PCAR PACCAR INC 0.5%

Value ($000) $6 (+27.3%) Shares 56,030 (+14.3%) Est. Cost $58.02 Unrealized +74.4%

LII LENNOX INTERNATIONAL INC 0.3%

Value ($000) $4 (+40.3%) Shares 7,784 (+53.0%) Est. Cost $323.77 Unrealized +54.3%

VNOM VIPER ENERGY INC-CL A 0.1%

Value ($000) $1 (+27.1%) Shares 28,925 (+25.7%) Est. Cost $38.05 Unrealized -0.5%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SBUX	STARBUCKS CORP	175,810 (+106.9%)	$15 (+106.0%)	1.2%	$82.01	+2.5%	COM	855244109
CNI	CANADIAN NATL RAILWAY CO	629,069 (+7.4%)	$62 (+12.8%)	5.1%	$93.37	+3.0%	COM	136375102
CNC	CENTENE CORP	471,952 (+30.5%)	$19 (+50.5%)	1.6%	$53.13	-29.6%	COM	15135B101
DG	DOLLAR GENERAL CORP	141,490 (+14.4%)	$19 (+47.0%)	1.5%	$82.36	+35.4%	COM	256677105
EL	ESTEE LAUDER COMPANIES-CL A	108,620 (+29.0%)	$11 (+53.3%)	0.9%	$90.36	+7.2%	COM	518439104
DRI	DARDEN RESTAURANTS INC	53,872 (+64.8%)	$10 (+59.4%)	0.8%	$147.12	+23.8%	COM	237194105
SOLV	SOLVENTUM CORP	239,252 (+1.8%)	$19 (+10.5%)	1.6%	$63.98	+19.7%	COM	83444M101
XPEL	XPEL INC	51,650 (+63.2%)	$3 (+146.2%)	0.2%	$39.15	+6.8%	COM	98379L100
BN	BROOKFIELD CORP	425,837 (+39.5%)	$20 (-6.5%)	1.6%	$44.58	+2.2%	COM	11271J107
PCAR	PACCAR INC	56,030 (+14.3%)	$6 (+27.3%)	0.5%	$58.02	+74.4%	COM	693718108
LII	LENNOX INTERNATIONAL INC	7,784 (+53.0%)	$4 (+40.3%)	0.3%	$323.77	+54.3%	COM	526107107
VNOM	VIPER ENERGY INC-CL A	28,925 (+25.7%)	$1 (+27.1%)	0.1%	$38.05	-0.5%	COM	64361Q101

Exited Positions (5)

— TELUS INTERNATIONAL CDA INC 2.2%

Value ($000) $27 Shares 6,089,995 Est. Cost $4.42 Unrealized —

STN STANTEC INC 1.4%

Value ($000) $17 Shares 161,025 Est. Cost $32.94 Unrealized —

— UNILEVER PLC-SPONSORED ADR 1.4%

Value ($000) $17 Shares 291,784 Est. Cost $26.31 Unrealized —

MU MICRON TECHNOLOGY INC 0.3%

Value ($000) $3 Shares 18,455 Est. Cost $66.87 Unrealized +243.0%

AFL AFLAC INC 0.1%

Value ($000) $1 Shares 10,050 Est. Cost $38.46 Unrealized +185.6%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	TELUS INTERNATIONAL CDA INC	6,089,995	$27	2.2%	$4.42	—	—	87975H100
STN	STANTEC INC	161,025	$17	1.4%	$32.94	—	—	85472N109
—	UNILEVER PLC-SPONSORED ADR	291,784	$17	1.4%	$26.31	—	—	904767704
MU	MICRON TECHNOLOGY INC	18,455	$3	0.3%	$66.87	+243.0%	—	595112103
AFL	AFLAC INC	10,050	$1	0.1%	$38.46	+185.6%	—	001055102

Decreased Positions (43)

SLF SUN LIFE FINANCIAL INC 4.1%

Value ($000) $50 (-17.1%) Shares 798,515 (-20.4%) Est. Cost $47.80 Unrealized +26.4%

JNJ JOHNSON & JOHNSON 1.4%

Value ($000) $17 (-32.9%) Shares 84,410 (-39.9%) Est. Cost $141.13 Unrealized +39.6%

FNV FRANCO-NEVADA CORP 3.8%

Value ($000) $47 (-13.5%) Shares 226,560 (-7.2%) Est. Cost $110.58 Unrealized +83.4%

ENB ENBRIDGE INC 4.3%

Value ($000) $52 (-11.9%) Shares 1,094,686 (-7.2%) Est. Cost $46.12 Unrealized +2.2%

GOOGL ALPHABET INC-CL A 1.2%

Value ($000) $15 (-30.3%) Shares 47,870 (-45.8%) Est. Cost $122.81 Unrealized +132.5%

RY ROYAL BANK OF CANADA 5.9%

Value ($000) $72 (+7.5%) Shares 421,019 (-7.2%) Est. Cost $117.75 Unrealized +30.4%

AZO AUTOZONE INC 0.6%

Value ($000) $8 (-39.0%) Shares 2,222 (-22.8%) Est. Cost $1859.36 Unrealized +103.2%

RBA RB GLOBAL INC 2.6%

Value ($000) $32 (-11.7%) Shares 313,567 (-7.2%) Est. Cost $62.65 Unrealized +62.1%

TD TORONTO-DOMINION BANK 3.6%

Value ($000) $44 (+9.5%) Shares 471,076 (-7.2%) Est. Cost $75.06 Unrealized +12.5%

BABA ALIBABA GROUP HOLDING-SP ADR 0.6%

Value ($000) $7 (-34.1%) Shares 49,347 (-19.7%) Est. Cost $38.22 Unrealized —

TFII TFI INTERNATIONAL INC 3.5%

Value ($000) $42 (+9.1%) Shares 409,736 (-7.2%) Est. Cost $125.19 Unrealized -25.7%

AMAT APPLIED MATERIALS INC 0.7%

Value ($000) $9 (-27.4%) Shares 34,170 (-42.2%) Est. Cost $163.19 Unrealized +46.8%

HCC WARRIOR MET COAL INC 1.1%

Value ($000) $14 (+29.4%) Shares 154,850 (-6.6%) Est. Cost $57.14 Unrealized +31.6%

MRK MERCK & CO. INC. 1.2%

Value ($000) $14 (+21.8%) Shares 136,687 (-2.9%) Est. Cost $83.11 Unrealized +12.2%

THO THOR INDUSTRIES INC 0.9%

Value ($000) $11 (-18.6%) Shares 109,816 (-17.8%) Est. Cost $81.28 Unrealized +27.1%

GIB CGI INC 5.4%

Value ($000) $65 (-3.6%) Shares 707,210 (-7.2%) Est. Cost $87.84 Unrealized +1.3%

FTS FORTIS INC 3.8%

Value ($000) $47 (-4.8%) Shares 899,708 (-7.2%) Est. Cost $34.54 Unrealized +47.1%

DOO BRP INC/CA- SUB VOTING 2.6%

Value ($000) $32 (+8.0%) Shares 447,754 (-7.2%) Est. Cost $55.98 Unrealized +21.4%

IMO IMPERIAL OIL LTD 1.4%

Value ($000) $18 (-11.5%) Shares 203,607 (-7.2%) Est. Cost $85.57 Unrealized +6.0%

BAM BROOKFIELD ASSET MGMT-A 1.1%

Value ($000) $13 (-14.5%) Shares 249,744 (-7.2%) Est. Cost $31.45 Unrealized +70.0%

OZK BANK OZK 0.6%

Value ($000) $7 (-21.6%) Shares 159,550 (-13.2%) Est. Cost $30.92 Unrealized +49.6%

UNH UNITEDHEALTH GROUP INC 1.3%

Value ($000) $16 (-10.7%) Shares 48,374 (-6.6%) Est. Cost $356.19 Unrealized -5.3%

EMA EMERA INC 3.2%

Value ($000) $39 (-4.6%) Shares 799,381 (-7.2%) Est. Cost $43.35 Unrealized +11.4%

NVO NOVO-NORDISK A/S-SPONS ADR 0.9%

Value ($000) $11 (-14.4%) Shares 208,268 (-6.7%) Est. Cost $1.33 Unrealized —

UNP UNION PACIFIC CORP 1.3%

Value ($000) $16 (-8.4%) Shares 68,551 (-6.4%) Est. Cost $187.10 Unrealized +21.5%

AMZN AMAZON.COM INC 1.2%

Value ($000) $15 (-8.7%) Shares 64,980 (-13.2%) Est. Cost $137.88 Unrealized +65.9%

MGA MAGNA INTERNATIONAL INC 2.6%

Value ($000) $32 (+4.5%) Shares 598,556 (-7.3%) Est. Cost $64.24 Unrealized -23.9%

ROST ROSS STORES INC 0.3%

Value ($000) $3 (-27.5%) Shares 18,820 (-38.7%) Est. Cost $98.54 Unrealized +69.1%

EOG EOG RESOURCES INC 0.6%

Value ($000) $8 (-12.8%) Shares 71,865 (-6.9%) Est. Cost $68.84 Unrealized +55.7%

HD HOME DEPOT INC 0.3%

Value ($000) $3 (-21.3%) Shares 9,057 (-7.4%) Est. Cost $256.01 Unrealized +42.4%

CMI CUMMINS INC 0.6%

Value ($000) $7 (+12.1%) Shares 13,265 (-7.3%) Est. Cost $157.03 Unrealized +197.0%

RCI ROGERS COMMUNICATIONS INC-B 2.7%

Value ($000) $33 (+1.9%) Shares 868,767 (-7.2%) Est. Cost $29.25 Unrealized +28.1%

BRK/B BERKSHIRE HATHAWAY INC-CL B 0.4%

Value ($000) $5 (-7.4%) Shares 10,481 (-7.3%) Est. Cost $157.65 Unrealized +215.6%

CVX CHEVRON CORP 0.3%

Value ($000) $4 (-9.1%) Shares 23,077 (-7.3%) Est. Cost $96.55 Unrealized +56.8%

CNQ CANADIAN NATURAL RESOURCES 1.6%

Value ($000) $20 (-1.7%) Shares 576,725 (-7.3%) Est. Cost $29.57 Unrealized +9.7%

DIS WALT DISNEY CO/THE 0.3%

Value ($000) $3 (-8.3%) Shares 27,760 (-7.7%) Est. Cost $110.45 Unrealized -0.8%

JPM JPMORGAN CHASE & CO 0.3%

Value ($000) $4 (-5.7%) Shares 12,895 (-7.7%) Est. Cost $95.78 Unrealized +223.2%

PEP PEPSICO INC 1.8%

Value ($000) $22 (+0.9%) Shares 151,035 (-1.3%) Est. Cost $142.75 Unrealized +2.2%

MMM 3M CO 0.3%

Value ($000) $4 (-4.4%) Shares 25,010 (-7.4%) Est. Cost $94.02 Unrealized +73.6%

AXP AMERICAN EXPRESS CO 0.3%

Value ($000) $4 (+3.1%) Shares 9,720 (-7.4%) Est. Cost $72.01 Unrealized +395.7%

XOM EXXON MOBIL CORP 0.3%

Value ($000) $4 (-1.1%) Shares 35,351 (-7.4%) Est. Cost $54.85 Unrealized +110.5%

MCK MCKESSON CORP 0.2%

Value ($000) $2 (-1.7%) Shares 2,989 (-7.4%) Est. Cost $146.42 Unrealized +457.0%

BAC BANK OF AMERICA CORP 0.1%

Value ($000) $1 (-1.2%) Shares 19,200 (-7.3%) Est. Cost $26.53 Unrealized +98.5%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SLF	SUN LIFE FINANCIAL INC	798,515 (-20.4%)	$50 (-17.1%)	4.1%	$47.80	+26.4%	COM	866796105
JNJ	JOHNSON & JOHNSON	84,410 (-39.9%)	$17 (-32.9%)	1.4%	$141.13	+39.6%	COM	478160104
FNV	FRANCO-NEVADA CORP	226,560 (-7.2%)	$47 (-13.5%)	3.8%	$110.58	+83.4%	COM	351858105
ENB	ENBRIDGE INC	1,094,686 (-7.2%)	$52 (-11.9%)	4.3%	$46.12	+2.2%	COM	29250N105
GOOGL	ALPHABET INC-CL A	47,870 (-45.8%)	$15 (-30.3%)	1.2%	$122.81	+132.5%	COM	02079K305
RY	ROYAL BANK OF CANADA	421,019 (-7.2%)	$72 (+7.5%)	5.9%	$117.75	+30.4%	COM	780087102
AZO	AUTOZONE INC	2,222 (-22.8%)	$8 (-39.0%)	0.6%	$1859.36	+103.2%	COM	053332102
RBA	RB GLOBAL INC	313,567 (-7.2%)	$32 (-11.7%)	2.6%	$62.65	+62.1%	COM	74935Q107
TD	TORONTO-DOMINION BANK	471,076 (-7.2%)	$44 (+9.5%)	3.6%	$75.06	+12.5%	COM	891160509
BABA	ALIBABA GROUP HOLDING-SP ADR	49,347 (-19.7%)	$7 (-34.1%)	0.6%	$38.22	—	COM	01609W102
TFII	TFI INTERNATIONAL INC	409,736 (-7.2%)	$42 (+9.1%)	3.5%	$125.19	-25.7%	COM	87241L109
AMAT	APPLIED MATERIALS INC	34,170 (-42.2%)	$9 (-27.4%)	0.7%	$163.19	+46.8%	COM	038222105
HCC	WARRIOR MET COAL INC	154,850 (-6.6%)	$14 (+29.4%)	1.1%	$57.14	+31.6%	COM	93627C101
MRK	MERCK & CO. INC.	136,687 (-2.9%)	$14 (+21.8%)	1.2%	$83.11	+12.2%	COM	58933Y105
THO	THOR INDUSTRIES INC	109,816 (-17.8%)	$11 (-18.6%)	0.9%	$81.28	+27.1%	COM	885160101
GIB	CGI INC	707,210 (-7.2%)	$65 (-3.6%)	5.4%	$87.84	+1.3%	COM	12532H104
FTS	FORTIS INC	899,708 (-7.2%)	$47 (-4.8%)	3.8%	$34.54	+47.1%	COM	349553107
DOO	BRP INC/CA- SUB VOTING	447,754 (-7.2%)	$32 (+8.0%)	2.6%	$55.98	+21.4%	COM	05577W200
IMO	IMPERIAL OIL LTD	203,607 (-7.2%)	$18 (-11.5%)	1.4%	$85.57	+6.0%	COM	453038408
BAM	BROOKFIELD ASSET MGMT-A	249,744 (-7.2%)	$13 (-14.5%)	1.1%	$31.45	+70.0%	COM	113004105
OZK	BANK OZK	159,550 (-13.2%)	$7 (-21.6%)	0.6%	$30.92	+49.6%	COM	06417N103
UNH	UNITEDHEALTH GROUP INC	48,374 (-6.6%)	$16 (-10.7%)	1.3%	$356.19	-5.3%	COM	91324P102
EMA	EMERA INC	799,381 (-7.2%)	$39 (-4.6%)	3.2%	$43.35	+11.4%	COM	290876101
NVO	NOVO-NORDISK A/S-SPONS ADR	208,268 (-6.7%)	$11 (-14.4%)	0.9%	$1.33	—	COM	670100205
UNP	UNION PACIFIC CORP	68,551 (-6.4%)	$16 (-8.4%)	1.3%	$187.10	+21.5%	COM	907818108
AMZN	AMAZON.COM INC	64,980 (-13.2%)	$15 (-8.7%)	1.2%	$137.88	+65.9%	COM	023135106
MGA	MAGNA INTERNATIONAL INC	598,556 (-7.3%)	$32 (+4.5%)	2.6%	$64.24	-23.9%	COM	559222401
ROST	ROSS STORES INC	18,820 (-38.7%)	$3 (-27.5%)	0.3%	$98.54	+69.1%	COM	778296103
EOG	EOG RESOURCES INC	71,865 (-6.9%)	$8 (-12.8%)	0.6%	$68.84	+55.7%	COM	26875P101
HD	HOME DEPOT INC	9,057 (-7.4%)	$3 (-21.3%)	0.3%	$256.01	+42.4%	COM	437076102
CMI	CUMMINS INC	13,265 (-7.3%)	$7 (+12.1%)	0.6%	$157.03	+197.0%	COM	231021106
RCI	ROGERS COMMUNICATIONS INC-B	868,767 (-7.2%)	$33 (+1.9%)	2.7%	$29.25	+28.1%	CL B	775109200
BRK/B	BERKSHIRE HATHAWAY INC-CL B	10,481 (-7.3%)	$5 (-7.4%)	0.4%	$157.65	+215.6%	CL B	084670702
CVX	CHEVRON CORP	23,077 (-7.3%)	$4 (-9.1%)	0.3%	$96.55	+56.8%	COM	166764100
CNQ	CANADIAN NATURAL RESOURCES	576,725 (-7.3%)	$20 (-1.7%)	1.6%	$29.57	+9.7%	COM	136385101
DIS	WALT DISNEY CO/THE	27,760 (-7.7%)	$3 (-8.3%)	0.3%	$110.45	-0.8%	COM	254687106
JPM	JPMORGAN CHASE & CO	12,895 (-7.7%)	$4 (-5.7%)	0.3%	$95.78	+223.2%	COM	46625H100
PEP	PEPSICO INC	151,035 (-1.3%)	$22 (+0.9%)	1.8%	$142.75	+2.2%	COM	713448108
MMM	3M CO	25,010 (-7.4%)	$4 (-4.4%)	0.3%	$94.02	+73.6%	COM	88579Y101
AXP	AMERICAN EXPRESS CO	9,720 (-7.4%)	$4 (+3.1%)	0.3%	$72.01	+395.7%	COM	025816109
XOM	EXXON MOBIL CORP	35,351 (-7.4%)	$4 (-1.1%)	0.3%	$54.85	+110.5%	COM	30231G102
MCK	MCKESSON CORP	2,989 (-7.4%)	$2 (-1.7%)	0.2%	$146.42	+457.0%	COM	58155Q103
BAC	BANK OF AMERICA CORP	19,200 (-7.3%)	$1 (-1.2%)	0.1%	$26.53	+98.5%	COM	060505104

Unchanged Positions (3)

NRC NATIONAL RESEARCH CORP 0.6%

Value ($000) $7 Shares 381,310 Est. Cost $36.52 Unrealized -58.7%

HAE HAEMONETICS CORP/MASS 0.1%

Value ($000) $2 Shares 21,870 Est. Cost $65.67 Unrealized +2.3%

OGS ONE GAS INC 0.1%

Value ($000) $1 Shares 14,030 Est. Cost $61.59 Unrealized +30.5%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
NRC	NATIONAL RESEARCH CORP	381,310	$7	0.6%	$36.52	-58.7%	COM	637372202
HAE	HAEMONETICS CORP/MASS	21,870	$2	0.1%	$65.67	+2.3%	COM	405024100
OGS	ONE GAS INC	14,030	$1	0.1%	$61.59	+30.5%	COM	68235P108