13F HOLDINGS REPORT

Northwest & Ethical Investments L.P.

Quarter ended Q2 2025 · Filed July 7, 2025 · Accession 0002033536-25-000012

Total Value

$1.17B

Positions

289

Other Managers

Confidential Omitted

View on SEC.gov

Holdings (289)

#	Issuer	Ticker / CUSIP	Shares	Value	% of Filing
1	TORONTO DOMINION BK ONT	TORO	1,060,258	$79.2M	6.79%
2	BANK NOVA SCOTIA HALIFAX	064149107	1,180,632	$67.8M	5.81%
3	ROGERS COMMUNICATIONS INC	RCIAF	1,234,058	$42.9M	3.68%
4	BCE INC	BCPPF	1,196,671	$42.5M	3.65%
5	CDN IMPERIAL BK OF COMMERCE	CNDIF	459,737	$36.2M	3.11%
6	ENCANA CORP	292505104	1,159,158	$33.9M	2.91%
7	MANULIFE FINL CORP	56501R106	1,840,709	$31.7M	2.72%
8	ROYAL BK CDA MONTREAL QUE	780087102	599,300	$31.5M	2.70%
9	CANADIAN NATL RY CO	136375102	461,097	$30.8M	2.64%
10	SHAW COMMUNICATIONS INC	82028K200	1,315,952	$28.2M	2.42%
11	CENOVUS ENERGY INC	CVE	779,854	$26.1M	2.24%
12	TRANSGLOBE ENERGY CORP	893662106	1,331,689	$21.3M	1.82%
13	SUNCOR ENERGY INC NEW	SU	513,160	$19.8M	1.69%
14	JOHNSON & JOHNSON	JNJ	309,215	$19.1M	1.64%
15	CAE INC	CAE	1,597,891	$18.5M	1.59%
16	BARRICK GOLD CORP	067901108	332,800	$17.8M	1.52%
17	GOLDCORP INC NEW	NVGLF	383,300	$17.7M	1.52%
18	ENBRIDGE INC	ENNPF	302,330	$17.1M	1.47%
19	CANADIAN NAT RES LTD	136385101	372,485	$16.6M	1.42%
20	AMERICAN EXPRESS CO	AXP	300,441	$12.9M	1.11%
21	POTASH CORP SASK INC	73755L107	82,800	$12.9M	1.10%
22	AGRIUM INC	008916108	136,920	$12.6M	1.08%
23	SUN LIFE FINL INC	SUNFF	404,770	$12.3M	1.05%
24	WASTE MGMT INC DEL	94106L109	316,645	$11.7M	1.00%
25	WHOLE FOODS MKT INC	966837106	227,018	$11.5M	0.99%
26	TECK RESOURCES LTD	TCKRF	174,600	$10.8M	0.93%
27	PROCTER & GAMBLE CO	742718109	161,080	$10.4M	0.89%
28	CONOCOPHILLIPS	COP	147,010	$10.0M	0.86%
29	INGERSOLL-RAND PLC	IR	209,997	$9.9M	0.85%
30	PFIZER INC	PFE	557,235	$9.8M	0.84%
31	GENERAL GROWTH PPTYS INC NEW	370023103	604,726	$9.4M	0.80%
32	VODAFONE GROUP PLC NEW	92857W209	332,017	$8.8M	0.75%
33	WESTERN UN CO	WU	461,165	$8.6M	0.73%
34	TIME WARNER INC	887317303	264,141	$8.5M	0.73%
35	KIMBERLY CLARK CORP	KMB	132,220	$8.3M	0.71%
36	NOKIA CORP	NOKBF	791,200	$8.2M	0.70%
37	COMCAST CORP NEW	CCZ	350,500	$7.7M	0.66%
38	CISCO SYS INC	CSCO	379,380	$7.7M	0.66%
39	HESS CORP	HESM	99,060	$7.6M	0.65%
40	GILDAN ACTIVEWEAR INC	GIL	260,249	$7.4M	0.64%
41	TARGET CORP	TGT	119,307	$7.2M	0.62%
42	NORTHERN TR CORP	NTRSO	126,230	$7.0M	0.60%
43	METLIFE INC	MET-PF	155,900	$6.9M	0.59%
44	INTERNATIONAL BUSINESS MACHS	INTR	46,365	$6.8M	0.58%
45	TEVA PHARMACEUTICAL INDS LTD	881624209	128,823	$6.7M	0.58%
46	WATERS CORP	941848103	83,289	$6.5M	0.56%
47	JPMORGAN CHASE & CO	VYLD	147,343	$6.3M	0.54%
48	KROGER CO	KR	279,360	$6.2M	0.54%
49	MICROSOFT CORP	MSFT	216,800	$6.1M	0.52%
50	CITIGROUP INC	C-PR	1,275,760	$6.0M	0.52%
51	AGNICO EAGLE MINES LTD	AEM	76,000	$5.9M	0.50%
52	DIRECTV	25490A101	139,395	$5.6M	0.48%
53	ACCENTURE PLC IRELAND	ACN	109,710	$5.3M	0.46%
54	BANK OF NEW YORK MELLON CORP	064058100	172,880	$5.2M	0.45%
55	SCHWAB CHARLES CORP NEW	SCHW-PJ	302,200	$5.2M	0.44%
56	CORRECTIONS CORP AMER NEW	CXW	204,080	$5.1M	0.44%
57	MCGRAW HILL COS INC	MH	139,900	$5.1M	0.44%
58	GOOGLE INC	38259P508	8,205	$4.9M	0.42%
59	CERNER CORP	156782104	48,460	$4.6M	0.39%
60	OVERSEAS SHIPHOLDING GROUP I	690368105	125,939	$4.5M	0.38%
61	DELL INC	DELL	316,692	$4.3M	0.37%
62	UNITED PARCEL SERVICE INC	UPS	59,055	$4.3M	0.37%
63	3M CO	MMM	49,555	$4.3M	0.37%
64	MORGAN STANLEY	MS-PQ	155,297	$4.2M	0.36%
65	WEATHERFORD INTERNATIONAL LT	WFRD	182,990	$4.2M	0.36%
66	BECTON DICKINSON & CO	BDX	48,315	$4.1M	0.35%
67	BAKER HUGHES INC	BKR	71,170	$4.1M	0.35%
68	BP PLC	BPPFF	89,771	$4.0M	0.34%
69	MOLSON COORS BREWING CO	TAP-A	77,148	$3.9M	0.33%
70	GEN-PROBE INC NEW	36866T103	62,720	$3.7M	0.31%
71	WASHINGTON POST CO	939640108	8,260	$3.6M	0.31%
72	AMDOCS LTD	DOX	128,490	$3.5M	0.30%
73	JOHNSON CTLS INC	478366107	90,000	$3.4M	0.29%
74	ROBERT HALF INTL INC	RHI	110,493	$3.4M	0.29%
75	APPLE INC	AAPL	10,300	$3.3M	0.28%
76	HOWARD HUGHES CORP	HHH	59,471	$3.2M	0.28%
77	ENI S P A	26874R108	72,750	$3.2M	0.27%
78	BOSTON SCIENTIFIC CORP	BSX	414,210	$3.1M	0.27%
79	JOY GLOBAL INC	481165108	36,000	$3.1M	0.27%
80	PROGRESSIVE CORP OHIO	743315103	152,870	$3.0M	0.26%
81	CARNIVAL CORP	CUKPF	65,530	$3.0M	0.26%
82	SILVER WHEATON CORP	828336107	76,050	$3.0M	0.26%
83	GLAXOSMITHKLINE PLC	GLAXF	73,000	$2.9M	0.25%
84	BANK MONTREAL QUE	063671101	48,300	$2.8M	0.24%
85	WYNN RESORTS LTD	WYNN	26,725	$2.8M	0.24%
86	KOHLS CORP	KSS	51,060	$2.8M	0.24%
87	AUTOMATIC DATA PROCESSING IN	ADP	59,900	$2.8M	0.24%
88	QUALCOMM INC	QCOM	55,190	$2.7M	0.23%
89	PEPSICO INC	PEP	41,275	$2.7M	0.23%
90	SPRINT NEXTEL CORP	852061100	633,487	$2.7M	0.23%
91	NATIONAL GRID PLC	NMPWP	60,000	$2.7M	0.23%
92	COCA COLA CO	KO	40,150	$2.6M	0.23%
93	DISNEY WALT CO	254687106	70,030	$2.6M	0.23%
94	KRAFT FOODS INC	KHC	82,690	$2.6M	0.22%
95	FEDEX CORP	FDX	27,380	$2.5M	0.22%
96	AUTODESK INC	ADSK	64,070	$2.4M	0.21%
97	VISA INC	V	34,710	$2.4M	0.21%
98	MASTERCARD INC	MA	10,650	$2.4M	0.20%
99	SHERWIN WILLIAMS CO	SHW	28,450	$2.4M	0.20%
100	INFOSYS TECHNOLOGIES LTD	INFY	30,800	$2.3M	0.20%
101	E M C CORP MASS	268648102	102,110	$2.3M	0.20%
102	SOUTHWEST AIRLS CO	844741108	179,390	$2.3M	0.20%
103	PIONEER NAT RES CO	723787107	26,800	$2.3M	0.20%
104	BOSTON PRIVATE FINL HLDGS IN	101119105	349,386	$2.3M	0.20%
105	VALE S A	VALE	66,052	$2.3M	0.20%
106	OWENS ILL INC	OI	72,890	$2.2M	0.19%
107	RYANAIR HLDGS PLC	RYAOF	72,720	$2.2M	0.19%
108	HSBC HLDGS PLC	HBCYF	43,671	$2.2M	0.19%
109	WEBSTER FINL CORP CONN	947890109	111,367	$2.2M	0.19%
110	COMPANHIA DE SANEAMENTO BASI	SBS	41,362	$2.2M	0.19%
111	ICICI BK LTD	IBN	43,000	$2.2M	0.19%
112	DISCOVERY COMMUNICATNS NEW	25470F104	49,050	$2.0M	0.18%
113	NORDSTROM INC	655664100	48,240	$2.0M	0.18%
114	RITCHIE BROS AUCTIONEERS	767744105	88,302	$2.0M	0.17%
115	HOME DEPOT INC	HD	57,430	$2.0M	0.17%
116	NORFOLK SOUTHERN CORP	655844108	32,005	$2.0M	0.17%
117	MACERICH CO	MAC	42,400	$2.0M	0.17%
118	DICKS SPORTING GOODS INC	253393102	52,250	$2.0M	0.17%
119	SAFEWAY INC	786514208	86,190	$1.9M	0.17%
120	COGNIZANT TECHNOLOGY SOLUTIO	CTSH	26,000	$1.9M	0.16%
121	SANDISK CORP	SNDK	38,200	$1.9M	0.16%
122	TEEKAY CORPORATION	TK	56,000	$1.9M	0.16%
123	ORIENT-EXPRESS HOTELS LTD	G67743107	138,906	$1.8M	0.15%
124	DR REDDYS LABS LTD	256135203	47,000	$1.7M	0.15%
125	THERMO FISHER SCIENTIFIC INC	TMO	31,220	$1.7M	0.15%
126	MANPOWER INC	MAN	27,100	$1.7M	0.15%
127	HEINZ H J CO	423074103	34,250	$1.7M	0.15%
128	JUNIPER NETWORKS INC	48203R104	45,400	$1.7M	0.14%
129	EMERSON ELEC CO	EMR	28,000	$1.6M	0.14%
130	FRESENIUS MED CARE AG&CO KGA	FMCQF	27,580	$1.6M	0.14%
131	WPP PLC	WPPGF	24,900	$1.5M	0.13%
132	EXFO INC	302046107	211,100	$1.5M	0.13%
133	NOVO-NORDISK A S	NONOF	13,200	$1.5M	0.13%
134	PALL CORP	PDYNW	29,890	$1.5M	0.13%
135	TELECOM CORP NEW ZEALAND LTD	879278208	176,000	$1.5M	0.13%
136	VULCAN MATLS CO	929160109	33,090	$1.5M	0.13%
137	FORD MTR CO DEL	345370860	86,000	$1.4M	0.12%
138	COVIDIEN PLC	G2554F105	31,220	$1.4M	0.12%
139	GENERAL MLS INC	370334104	35,835	$1.3M	0.11%
140	KELLOGG CO	BEKE	24,960	$1.3M	0.11%
141	BROADCOM CORP	AVGO	29,000	$1.3M	0.11%
142	AMERICA MOVIL SAB DE CV	AMXOF	21,737	$1.2M	0.11%
143	SK TELECOM LTD	SKM	66,470	$1.2M	0.11%
144	CSX CORP	CSX	19,100	$1.2M	0.11%
145	TRANSOCEAN LTD	RIG	17,540	$1.2M	0.10%
146	UNILEVER PLC	UNLYF	38,990	$1.2M	0.10%
147	ACE LTD	H0023R105	19,100	$1.2M	0.10%
148	SAP AG	SAPGF	21,020	$1.1M	0.09%
149	GRUPO TELEVISA SA DE CV	GRPFF	40,850	$1.1M	0.09%
150	WILLIS GROUP HOLDINGS PUBLIC	G96666105	28,370	$982,452	0.08%
151	KT CORP	KT	46,618	$969,653	0.08%
152	BANCO SANTANDER CHILE NEW	BSAC	10,346	$967,039	0.08%
153	LIBERTY GLOBAL INC	LBTYK	27,240	$963,750	0.08%
154	ANADARKO PETE CORP	032511107	12,000	$913,919	0.08%
155	UNITEDHEALTH GROUP INC	UNH	25,000	$902,749	0.08%
156	NII HLDGS INC	NODK	20,000	$893,199	0.08%
157	PETROCHINA CO LTD	PTCCY	6,340	$833,645	0.07%
158	UNITED THERAPEUTICS CORP DEL	UTHR	11,930	$754,214	0.06%
159	SYNOVUS FINL CORP	87161C105	281,537	$743,256	0.06%
160	LABOPHARM INC	504905100	692,200	$661,160	0.06%
161	LAS VEGAS SANDS CORP	LVS	13,844	$636,131	0.05%
162	TJX COS INC NEW	872540109	14,000	$621,459	0.05%
163	CANON INC	CAJFF	12,000	$616,079	0.05%
164	SANOFI AVENTIS	SNYNF	18,100	$583,362	0.05%
165	VISTAPRINT N V	N93540107	12,000	$551,999	0.05%
166	MAKITA CORP	560877300	13,400	$546,585	0.05%
167	HONDA MOTOR LTD	HNDAF	13,700	$541,149	0.05%
168	IMRIS INC	45322N105	89,100	$508,836	0.04%
169	PETROLEO BRASILEIRO SA PETRO	71654V408	13,300	$503,272	0.04%
170	VIRGIN MEDIA INC	92769L101	17,720	$482,691	0.04%
171	YINGLI GREEN ENERGY HLDG CO	98584B103	47,620	$470,483	0.04%
172	MINDRAY MEDICAL INTL LTD	602675100	17,560	$463,583	0.04%
173	OFFICE DEPOT INC	676220106	83,964	$453,404	0.04%
174	FRANCE TELECOM	35177Q105	19,400	$408,951	0.04%
175	LAN AIRLINES S A	501723100	12,025	$370,128	0.03%
176	CHEVRON CORP NEW	CVX	3,900	$355,873	0.03%
177	RIO TINTO PLC	RTNTF	4,700	$336,801	0.03%
178	MARATHON OIL CORP	MARA	9,000	$333,269	0.03%
179	MERCK & CO INC NEW	MRK	9,200	$331,567	0.03%
180	INTEL CORP	INTC	14,855	$312,400	0.03%
181	KB FINANCIAL GROUP INC	48241A105	5,900	$312,050	0.03%
182	ROYAL DUTCH SHELL PLC	780259107	4,500	$300,014	0.03%
183	TOTAL S A	TTE	5,500	$294,139	0.03%
184	DIGITAL RLTY TR INC	253868103	5,690	$293,260	0.03%
185	DUPONT FABROS TECHNOLOGY INC	26613Q106	13,500	$287,142	0.02%
186	BANK OF AMERICA CORPORATION	060505104	21,500	$286,809	0.02%
187	BIOMED REALTY TRUST INC	09063H107	15,100	$281,613	0.02%
188	ALEXANDRIA REAL ESTATE EQ IN	015271109	3,830	$280,583	0.02%
189	CORPORATE OFFICE PPTYS TR	CDP	7,620	$266,317	0.02%
190	REED ELSEVIER P L C	758205207	7,800	$261,767	0.02%
191	TELEFONICA S A	TELFY	3,300	$225,785	0.02%
192	WAL MART STORES INC	WMT	4,180	$225,426	0.02%
193	MCDONALDS CORP	MCD	2,935	$225,289	0.02%
194	POSCO	PKX	2,000	$215,379	0.02%
195	AT&T INC	T-PC	7,000	$205,659	0.02%
196	BANCO BILBAO VIZCAYA ARGENTA	BBVXF	19,900	$202,383	0.02%
197	PACCAR INC	PCAR	3,400	$195,227	0.02%
198	WELLS FARGO & CO NEW	949746101	5,900	$182,840	0.02%
199	INTL PAPER CO	460146103	6,700	$182,507	0.02%
200	ABERCROMBIE & FITCH CO	ANF	3,000	$172,889	0.01%
201	HEWLETT PACKARD CO	HPE-PC	4,100	$172,609	0.01%
202	GAP INC DEL	GAP	7,700	$170,477	0.01%
203	ANNALY CAP MGMT INC	NLY-PJ	9,200	$164,863	0.01%
204	EXXON MOBIL CORP	XOM	2,200	$160,863	0.01%
205	MCCORMICK & CO INC	MKC-V	3,310	$154,013	0.01%
206	NEWMONT MINING CORP	NEMCL	2,300	$141,288	0.01%
207	BREITBURN ENERGY PARTNERS LP	106776107	6,850	$137,821	0.01%
208	IESI BFC LTD	IESC	5,600	$136,199	0.01%
209	GOLDMAN SACHS GROUP INC	GSCE	800	$134,527	0.01%
210	SARA LEE CORP	803111103	7,460	$130,624	0.01%
211	GENUINE PARTS CO	GPC	2,485	$127,579	0.01%
212	TOYOTA MOTOR CORP	TOYOF	1,600	$125,807	0.01%
213	CLIFFS NATURAL RESOURCES INC	18683K101	1,600	$124,815	0.01%
214	REPSOL YPF S A	76026T205	4,400	$122,935	0.01%
215	CINCINNATI FINL CORP	172062101	3,745	$118,678	0.01%
216	SYSCO CORP	SYY	3,895	$114,512	0.01%
217	ARCELORMITTAL SA LUXEMBOURG	ARCXF	3,000	$114,389	0.01%
218	CLOROX CO DEL	CLX	1,785	$112,954	0.01%
219	PARTNERRE LTD	PREJF	1,400	$112,489	0.01%
220	CHUBB CORP	CB	1,870	$111,526	0.01%
221	CRACKER BARREL OLD CTRY STOR	22410J106	2,020	$110,634	0.01%
222	GENERAL ELECTRIC CO	GE	6,000	$109,739	0.01%
223	FEDERATED INVS INC PA	FHI	4,140	$108,343	0.01%
224	BRISTOL MYERS SQUIBB CO	CELG-RI	4,000	$105,919	0.01%
225	DONNELLEY R R & SONS CO	257867101	6,000	$104,819	0.01%
226	HARTFORD FINL SVCS GROUP INC	HIG-PG	3,900	$103,310	0.01%
227	DOW CHEM CO	DOW	3,000	$102,419	0.01%
228	TEXAS INSTRS INC	882508104	3,100	$100,749	0.01%
229	SEADRILL LIMITED	SDRL	2,940	$99,724	0.01%
230	GERDAU S A	GGB	6,900	$96,530	0.01%
231	UNITED TECHNOLOGIES CORP	UNTCW	1,225	$96,431	0.01%
232	GENERAL MTRS CO	37045V209	1,700	$91,986	0.01%
233	LINCOLN NATL CORP IND	534187109	3,300	$91,772	0.01%
234	BANK HAWAII CORP	062540109	1,940	$91,586	0.01%
235	AEGON N V	AEFC	14,800	$90,723	0.01%
236	SPECTRA ENERGY CORP	847560109	3,615	$90,337	0.01%
237	COMPANIA CERVECERIAS UNIDAS	204429104	1,495	$90,222	0.01%
238	PETSMART INC	716768106	2,265	$90,192	0.01%
239	AMGEN INC	AMGN	1,600	$87,839	0.01%
240	CHIMERA INVT CORP	CIMN	21,000	$86,309	0.01%
241	AMERICA MOVIL SAB DE CV	AMXOF	1,500	$85,469	0.01%
242	PNC FINL SVCS GROUP INC	693475105	1,400	$85,007	0.01%
243	TRAVELERS COMPANIES INC	TRV	1,500	$83,564	0.01%
244	UNISOURCE ENERGY CORP	909205106	2,300	$82,431	0.01%
245	KOREA ELECTRIC PWR	500631106	6,000	$81,059	0.01%
246	NUCOR CORP	NUE	1,795	$78,656	0.01%
247	CULLEN FROST BANKERS INC	CFR-PB	1,250	$76,399	0.01%
248	MARSHALL & ILSLEY CORP NEW	571837103	11,000	$76,119	0.01%
249	SOUTHERN CO	SOMN	1,910	$73,018	0.01%
250	SAFETY INS GROUP INC	78648T100	1,530	$72,782	0.01%
251	ASTRAZENECA PLC	AZN	1,575	$72,748	0.01%
252	AVISTA CORP	AVA	3,195	$71,950	0.01%
253	PAYCHEX INC	PAYX	2,245	$69,392	0.01%
254	BOB EVANS FARMS INC	096761101	2,085	$68,721	0.01%
255	VERIZON COMMUNICATIONS INC	VZ	1,910	$68,339	0.01%
256	CIGNA CORP	CI	1,800	$65,987	0.01%
257	BOEING CO	BA-PA	1,000	$65,259	0.01%
258	DARDEN RESTAURANTS INC	DRI	1,390	$64,550	0.01%
259	MICRON TECHNOLOGY INC	MU	8,000	$64,159	0.01%
260	HILLENBRAND INC	431571108	3,070	$63,886	0.01%
261	RAYTHEON CO	755111507	1,350	$62,558	0.01%
262	STATE STR CORP	STT-PG	1,300	$60,241	0.01%
263	COMMERCE BANCSHARES INC	CBSH	1,503	$59,713	0.01%
264	COCA COLA ENTERPRISES INC NE	KO	2,385	$59,696	0.01%
265	GENERAL DYNAMICS CORP	GD	805	$57,122	0.00%
266	PEOPLES UNITED FINANCIAL INC	712704105	3,990	$55,899	0.00%
267	SMUCKER J M CO	832696405	845	$55,473	0.00%
268	AMERICAN EAGLE OUTFITTERS NE	AEO	3,720	$54,422	0.00%
269	ASML HOLDING N V	ASMLF	1,400	$53,675	0.00%
270	ONEBEACON INSURANCE GROUP LT	G67742109	3,480	$52,755	0.00%
271	DIAGEO P L C	DGEAF	705	$52,402	0.00%
272	OWENS & MINOR INC NEW	690732102	1,770	$52,090	0.00%
273	COMPASS DIVERSIFIED HOLDINGS	CODI-PC	2,920	$51,653	0.00%
274	AVNET INC	AVT	1,500	$49,544	0.00%
275	SABRA HEALTH CARE REIT INC	SBRA	2,650	$48,759	0.00%
276	V F CORP	VFC	565	$48,690	0.00%
277	SUNTRUST BKS INC	867914103	1,600	$47,215	0.00%
278	REGAL ENTMT GROUP	758766109	3,675	$43,144	0.00%
279	FIRST HORIZON NATL CORP	FHN-PH	3,600	$42,407	0.00%
280	US BANCORP DEL	USB-PS	1,470	$39,645	0.00%
281	NATIONAL FUEL GAS CO N J	NFG	600	$39,371	0.00%
282	VIVO PARTICIPACOES S A	92855S200	1,095	$35,685	0.00%
283	PETMED EXPRESS INC	PETS	1,685	$30,009	0.00%
284	RPM INTL INC	749685103	1,350	$29,834	0.00%
285	GRUPO AEROPORTUARIO DEL SURE	40051E202	520	$29,353	0.00%
286	APOLLO INVT CORP	03761U106	2,635	$29,168	0.00%
287	LOCKHEED MARTIN CORP	LMT	385	$26,914	0.00%
288	MERCURY GENL CORP NEW	589400100	520	$22,364	0.00%
289	ATLANTIC TELE NETWORK INC	049079205	575	$22,045	0.00%