13F HOLDINGS REPORT

Northwest & Ethical Investments L.P.

Quarter ended Q2 2025 · Filed July 7, 2025 · Accession 0002033536-25-000017

Total Value

$1.08B

Positions

238

Other Managers

Confidential Omitted

View on SEC.gov

Holdings (238)

#	Issuer	Ticker / CUSIP	Shares	Value	% of Filing
1	TORONTO DOMINION BK ONT	TORO	980,058	$83.0M	7.72%
2	BANK NOVA SCOTIA HALIFAX	064149107	1,005,178	$56.2M	5.23%
3	ROYAL BK CDA MONTREAL QUE	780087102	777,750	$45.0M	4.18%
4	BCE INC	BCPPF	900,521	$36.0M	3.35%
5	CANADIAN NATL RY CO	136375102	363,769	$28.9M	2.68%
6	ROGERS COMMUNICATIONS INC	RCIAF	687,000	$27.2M	2.53%
7	MANULIFE FINL CORP	56501R106	1,724,609	$23.3M	2.17%
8	TRANSGLOBE ENERGY CORP	893662106	1,648,654	$19.9M	1.85%
9	CANADIAN NAT RES LTD	136385101	541,586	$17.9M	1.67%
10	CDN IMPERIAL BK OF COMMERCE	CNDIF	231,637	$17.7M	1.64%
11	ENCANA CORP	292505104	868,579	$17.0M	1.58%
12	GOLDCORP INC NEW	NVGLF	375,500	$16.9M	1.57%
13	GILDAN ACTIVEWEAR INC	GIL	599,744	$16.5M	1.53%
14	MAGNA INTL INC	559222401	321,000	$15.3M	1.42%
15	CENOVUS ENERGY INC	CVE	411,554	$14.8M	1.38%
16	SHAW COMMUNICATIONS INC	82028K200	698,752	$14.8M	1.37%
17	PFIZER INC	PFE	615,250	$13.9M	1.30%
18	DOMTAR CORP	257559203	138,550	$13.2M	1.23%
19	INGERSOLL-RAND PLC	IR	314,738	$13.0M	1.21%
20	JOHNSON & JOHNSON	JNJ	196,630	$13.0M	1.21%
21	POTASH CORP SASK INC	73755L107	280,200	$12.8M	1.19%
22	COMCAST CORP NEW	CCZ	393,250	$11.8M	1.10%
23	INTERNATIONAL BUSINESS MACHS	INTR	54,590	$11.4M	1.06%
24	WASTE MGMT INC DEL	94106L109	320,825	$11.2M	1.04%
25	AMERICAN EXPRESS CO	AXP	190,755	$11.0M	1.03%
26	PROCTER & GAMBLE CO	742718109	162,475	$10.9M	1.02%
27	CAE INC	CAE	969,317	$9.9M	0.92%
28	CISCO SYS INC	CSCO	466,980	$9.9M	0.92%
29	DIRECTV	25490A101	197,977	$9.8M	0.91%
30	COVIDIEN PLC	G2554F113	174,400	$9.5M	0.89%
31	METLIFE INC	MET-PF	249,100	$9.3M	0.87%
32	WHOLE FOODS MKT INC	966837106	105,442	$8.8M	0.82%
33	JPMORGAN CHASE & CO	VYLD	184,421	$8.5M	0.79%
34	GOOGLE INC	38259P508	13,220	$8.5M	0.79%
35	KROGER CO	KR	346,100	$8.4M	0.78%
36	TECK RESOURCES LTD	TCKRF	219,300	$7.8M	0.73%
37	KRAFT FOODS INC	KHC	201,580	$7.7M	0.71%
38	MICROSOFT CORP	MSFT	236,455	$7.6M	0.71%
39	KONINKLIJKE PHILIPS ELECTRS	RYLPF	360,750	$7.3M	0.68%
40	ENBRIDGE INC	ENNPF	186,054	$7.2M	0.67%
41	WEATHERFORD INTERNATIONAL LT	WFRD	475,400	$7.2M	0.67%
42	SUNCOR ENERGY INC NEW	SU	218,084	$7.1M	0.66%
43	LOWES COS INC	548661107	224,500	$7.0M	0.66%
44	GENERAL GROWTH PPTYS INC NEW	370023103	413,100	$7.0M	0.65%
45	E M C CORP MASS	268648102	232,220	$6.9M	0.65%
46	BARRICK GOLD CORP	067901108	152,154	$6.6M	0.61%
47	CERNER CORP	156782104	85,290	$6.5M	0.60%
48	HALLIBURTON CO	HAL	185,900	$6.2M	0.57%
49	WATERS CORP	941848103	66,380	$6.2M	0.57%
50	VODAFONE GROUP PLC NEW	92857W209	214,720	$5.9M	0.55%
51	STANTEC INC	STN	184,700	$5.9M	0.55%
52	TRW AUTOMOTIVE HLDGS CORP	87264S106	118,400	$5.5M	0.51%
53	HESS CORP	HESM	92,150	$5.4M	0.51%
54	CARNIVAL CORP	CUKPF	167,130	$5.4M	0.50%
55	BECTON DICKINSON & CO	BDX	68,820	$5.3M	0.50%
56	SANOFI	SNYNF	134,375	$5.2M	0.48%
57	TIME WARNER INC	887317303	135,320	$5.1M	0.48%
58	MORGAN STANLEY	MS-PQ	256,469	$5.0M	0.47%
59	AGRIUM INC	008916108	56,900	$4.9M	0.46%
60	DELL INC	DELL	294,697	$4.9M	0.45%
61	BAYTEX ENERGY CORP	BTE	93,425	$4.8M	0.45%
62	CITIGROUP INC	C-PR	127,993	$4.7M	0.44%
63	TARGET CORP	TGT	80,130	$4.7M	0.43%
64	CME GROUP INC	CME	15,930	$4.6M	0.43%
65	CAMECO CORP	CCJ	206,700	$4.4M	0.41%
66	DISCOVER FINL SVCS	254709108	132,200	$4.4M	0.41%
67	TEVA PHARMACEUTICAL INDS LTD	881624209	97,535	$4.4M	0.41%
68	METHANEX CORP	MEOH	135,000	$4.4M	0.41%
69	RYANAIR HLDGS PLC	RYAOF	119,810	$4.3M	0.40%
70	JUNIPER NETWORKS INC	48203R104	188,520	$4.3M	0.40%
71	CORRECTIONS CORP AMER NEW	CXW	155,601	$4.2M	0.40%
72	HSBC HLDGS PLC	HBCYF	94,363	$4.2M	0.39%
73	MOODYS CORP	MCO	99,480	$4.2M	0.39%
74	ENI S P A	26874R108	88,000	$4.1M	0.38%
75	APPLE INC	AAPL	6,600	$4.0M	0.37%
76	NORTHERN TR CORP	NTRSO	82,100	$3.9M	0.36%
77	WESTERN UN CO	WU	220,908	$3.9M	0.36%
78	HOWARD HUGHES CORP	HHH	58,813	$3.8M	0.35%
79	BP PLC	BPPFF	81,270	$3.7M	0.34%
80	SOUTHWEST AIRLS CO	844741108	442,320	$3.6M	0.34%
81	SCHWAB CHARLES CORP NEW	SCHW-PJ	245,760	$3.5M	0.33%
82	WYNN RESORTS LTD	WYNN	26,725	$3.3M	0.31%
83	AMC NETWORKS INC	AMCX	74,110	$3.3M	0.31%
84	GENERAL ELECTRIC CO	GE	162,200	$3.3M	0.30%
85	COCA COLA CO	KO	43,960	$3.3M	0.30%
86	DISCOVERY COMMUNICATNS NEW	25470F104	62,790	$3.2M	0.30%
87	DISNEY WALT CO	254687106	72,470	$3.2M	0.30%
88	CONOCOPHILLIPS	COP	40,565	$3.1M	0.29%
89	NOVO-NORDISK A S	NONOF	21,800	$3.0M	0.28%
90	DIGITAL RLTY TR INC	253868103	40,320	$3.0M	0.28%
91	SEAGATE TECHNOLOGY PLC	STX	110,500	$3.0M	0.28%
92	RIVERBED TECHNOLOGY INC	768573107	104,550	$2.9M	0.27%
93	AUTODESK INC	ADSK	68,150	$2.9M	0.27%
94	MASTERCARD INC	MA	6,470	$2.7M	0.25%
95	VISA INC	V	22,810	$2.7M	0.25%
96	STATOIL ASA	85771P102	99,000	$2.7M	0.25%
97	NEW GOLD INC CDA	644535106	270,400	$2.7M	0.25%
98	OVERSEAS SHIPHOLDING GROUP I	690368105	210,209	$2.7M	0.25%
99	HUDBAY MINERALS INC	HBM	241,000	$2.6M	0.25%
100	AMDOCS LTD	DOX	82,540	$2.6M	0.24%
101	CANON INC	CAJFF	53,500	$2.5M	0.24%
102	BANK MONTREAL QUE	063671101	41,300	$2.5M	0.23%
103	ILLINOIS TOOL WKS INC	452308109	42,300	$2.4M	0.22%
104	WESTPAC BKG CORP	961214301	21,000	$2.4M	0.22%
105	COGNIZANT TECHNOLOGY SOLUTIO	CTSH	30,900	$2.4M	0.22%
106	QUALCOMM INC	QCOM	34,600	$2.4M	0.22%
107	GEN-PROBE INC NEW	36866T103	34,490	$2.3M	0.21%
108	UNITED PARCEL SERVICE INC	UPS	28,135	$2.3M	0.21%
109	NORFOLK SOUTHERN CORP	655844108	33,895	$2.2M	0.21%
110	MACYS INC	55616P104	55,800	$2.2M	0.21%
111	FRESENIUS MED CARE AG&CO KGA	FMCQF	31,180	$2.2M	0.20%
112	HEINZ H J CO	423074103	40,910	$2.2M	0.20%
113	NATIONAL GRID PLC	NMPWP	41,500	$2.1M	0.19%
114	UNITEDHEALTH GROUP INC	UNH	35,000	$2.1M	0.19%
115	JOY GLOBAL INC	481165108	27,785	$2.0M	0.19%
116	WASHINGTON POST CO	939640108	5,400	$2.0M	0.19%
117	DEERE & CO	DE	24,800	$2.0M	0.19%
118	PROGRESSIVE WASTE SOLUTIONS	PRG	92,300	$2.0M	0.19%
119	FEDEX CORP	FDX	21,710	$2.0M	0.19%
120	BANK OF AMERICA CORPORATION	060505104	207,300	$2.0M	0.18%
121	HUMANA INC	HUM	20,900	$1.9M	0.18%
122	UNILEVER PLC	UNLYF	57,830	$1.9M	0.18%
123	CAMERON INTERNATIONAL CORP	13342B105	34,610	$1.8M	0.17%
124	MCDONALDS CORP	MCD	18,600	$1.8M	0.17%
125	SPRINT NEXTEL CORP	852061100	629,900	$1.8M	0.17%
126	VIRGIN MEDIA INC	92769L101	71,460	$1.8M	0.17%
127	SILVER WHEATON CORP	828336107	52,706	$1.7M	0.16%
128	DICKS SPORTING GOODS INC	253393102	36,130	$1.7M	0.16%
129	UNITED CONTL HLDGS INC	UNTCW	80,180	$1.7M	0.16%
130	ACE LTD	H0023R105	23,100	$1.7M	0.16%
131	HONDA MOTOR LTD	HNDAF	42,000	$1.6M	0.15%
132	FORTUNA SILVER MINES INC	349915108	357,290	$1.6M	0.15%
133	BOSTON SCIENTIFIC CORP	BSX	268,590	$1.6M	0.15%
134	CREDICORP LTD	BAP	11,756	$1.5M	0.14%
135	BAIDU INC	BAIDF	10,332	$1.5M	0.14%
136	SUN LIFE FINL INC	SUNFF	61,206	$1.5M	0.13%
137	BB&T CORP	054937107	45,900	$1.4M	0.13%
138	TRANSALTA CORP	TACPF	76,287	$1.4M	0.13%
139	WEBSTER FINL CORP CONN	947890109	62,267	$1.4M	0.13%
140	ORIENT-EXPRESS HOTELS LTD	G67743107	137,944	$1.4M	0.13%
141	IMPERIAL OIL LTD	IMO	30,827	$1.4M	0.13%
142	AGNICO EAGLE MINES LTD	AEM	41,785	$1.4M	0.13%
143	AETNA INC NEW	00817Y108	27,600	$1.4M	0.13%
144	MINDRAY MEDICAL INTL LTD	602675100	41,240	$1.4M	0.13%
145	CHECK POINT SOFTWARE TECH LT	M22465104	20,790	$1.3M	0.12%
146	TRANSOCEAN LTD	RIG	23,022	$1.3M	0.12%
147	OWENS ILL INC	OI	48,120	$1.1M	0.10%
148	NETEASE COM INC	NETTF	17,207	$999,725	0.09%
149	PALL CORP	PDYNW	14,800	$882,522	0.08%
150	WESTERN DIGITAL CORP	WDC	21,200	$877,468	0.08%
151	APACHE CORP	APA	8,400	$843,695	0.08%
152	METROPCS COMMUNICATIONS INC	591708102	91,700	$827,133	0.08%
153	LAS VEGAS SANDS CORP	LVS	13,844	$796,997	0.07%
154	EXFO INC	302046107	112,500	$789,334	0.07%
155	DUPONT FABROS TECHNOLOGY INC	26613Q106	26,710	$653,058	0.06%
156	INTEL CORP	INTC	23,095	$649,199	0.06%
157	UNITED CMNTY BKS BLAIRSVLE G	UNTCW	65,913	$642,650	0.06%
158	ALEXANDRIA REAL ESTATE EQ IN	015271109	8,760	$640,617	0.06%
159	MOLSON COORS BREWING CO	TAP-A	13,875	$627,842	0.06%
160	BIOMED REALTY TRUST INC	09063H107	32,820	$622,922	0.06%
161	CORPORATE OFFICE PPTYS TR	CDP	25,860	$600,209	0.06%
162	XEROX CORP	XRXDW	69,000	$557,519	0.05%
163	SASOL LTD	SASOF	11,400	$554,495	0.05%
164	AUTOMATIC DATA PROCESSING IN	ADP	9,940	$548,588	0.05%
165	LENNAR CORP	LEN-B	20,110	$546,588	0.05%
166	GENERAL MLS INC	370334104	13,710	$540,859	0.05%
167	BROOKFIELD RESIDENTIAL PPTYS	11283W104	47,429	$501,798	0.05%
168	GENUINE PARTS CO	GPC	7,955	$499,175	0.05%
169	TOLL BROTHERS INC	TOL	20,530	$492,512	0.05%
170	PEPSICO INC	PEP	7,380	$489,662	0.05%
171	NVR INC	NVR	660	$479,376	0.04%
172	KIMBERLY CLARK CORP	KMB	6,430	$475,112	0.04%
173	D R HORTON INC	23331A109	31,120	$472,088	0.04%
174	LSI CORPORATION	502161102	52,200	$453,095	0.04%
175	SYSCO CORP	SYY	14,770	$441,031	0.04%
176	CHUBB CORP	CB	6,360	$439,539	0.04%
177	CHEVRON CORP NEW	CVX	4,065	$435,929	0.04%
178	LOCKHEED MARTIN CORP	LMT	4,215	$378,759	0.04%
179	TELEFONICA BRASIL SA	VIV	12,229	$374,573	0.03%
180	DR REDDYS LABS LTD	256135203	10,720	$370,482	0.03%
181	VERIZON COMMUNICATIONS INC	VZ	9,510	$363,566	0.03%
182	SARA LEE CORP	803111103	16,630	$358,042	0.03%
183	BLACKROCK INC	BLK	1,660	$340,133	0.03%
184	BOB EVANS FARMS INC	096761101	8,890	$335,330	0.03%
185	CASH STORE FINL SVCS INC	14756F103	57,841	$335,200	0.03%
186	HILLENBRAND INC	431571108	14,550	$333,922	0.03%
187	NUCOR CORP	NUE	7,545	$324,057	0.03%
188	PARTNERRE LTD	PREJF	4,695	$318,742	0.03%
189	KT CORP	KT	22,952	$314,212	0.03%
190	DARDEN RESTAURANTS INC	DRI	6,110	$312,587	0.03%
191	PNC FINL SVCS GROUP INC	693475105	4,835	$311,808	0.03%
192	COMPANHIA DE SANEAMENTO BASI	SBS	3,872	$296,671	0.03%
193	MEDTRONIC INC	MDT	7,520	$294,707	0.03%
194	DR PEPPER SNAPPLE GROUP INC	26138E109	7,250	$291,522	0.03%
195	RAYTHEON CO	755111507	5,445	$287,386	0.03%
196	ASTRAZENECA PLC	AZN	6,405	$284,958	0.03%
197	UNISOURCE ENERGY CORP	909205106	7,700	$281,588	0.03%
198	UNITED TECHNOLOGIES CORP	UNTCW	3,380	$280,337	0.03%
199	SOUTHERN CO	SOMN	6,170	$277,217	0.03%
200	AVISTA CORP	AVA	10,760	$275,240	0.03%
201	COMPANIA DE MINAS BUENAVENTU	204448104	6,800	$274,107	0.03%
202	WAL MART STORES INC	WMT	4,460	$272,951	0.03%
203	PETROLEO BRASILEIRO SA PETRO	71654V408	10,200	$270,911	0.03%
204	ABM INDS INC	000957100	10,445	$253,813	0.02%
205	MCCORMICK & CO INC	MKC-V	4,525	$246,295	0.02%
206	SABRA HEALTH CARE REIT INC	SBRA	14,710	$241,831	0.02%
207	REPUBLIC SVCS INC	760759100	7,700	$235,311	0.02%
208	REGAL ENTMT GROUP	758766109	17,215	$234,123	0.02%
209	SMUCKER J M CO	832696405	2,855	$232,281	0.02%
210	OWENS & MINOR INC NEW	690732102	7,405	$225,185	0.02%
211	PAYCHEX INC	PAYX	7,170	$222,197	0.02%
212	WALGREEN CO	931422109	6,470	$216,679	0.02%
213	COMMERCE BANCSHARES INC	CBSH	5,286	$214,188	0.02%
214	SAFETY INS GROUP INC	78648T100	4,995	$207,991	0.02%
215	BEMIS INC	081437105	6,335	$204,556	0.02%
216	ENTERGY CORP NEW	ENO	3,025	$203,279	0.02%
217	3M CO	MMM	2,245	$200,276	0.02%
218	GENERAL DYNAMICS CORP	GD	2,715	$199,226	0.02%
219	IRON MTN INC	462846106	6,705	$193,103	0.02%
220	AMERICAN GREETINGS CORP	026375105	12,280	$188,374	0.02%
221	NATIONAL CINEMEDIA INC	NCMI	12,025	$183,982	0.02%
222	DIANA SHIPPING INC	DSX-WT	19,500	$174,523	0.02%
223	ONEBEACON INSURANCE GROUP LT	G67742109	11,050	$170,280	0.02%
224	CRACKER BARREL OLD CTRY STOR	22410J106	3,035	$169,352	0.02%
225	LANDAUER INC	51476K103	2,955	$156,673	0.01%
226	US BANCORP DEL	USB-PS	4,815	$152,539	0.01%
227	TOWER GROUP INC	891777104	6,585	$147,700	0.01%
228	COMPASS DIVERSIFIED HOLDINGS	CODI-PC	9,880	$146,124	0.01%
229	IMAX CORP	IMAX	5,060	$123,666	0.01%
230	MEREDITH CORP	589433101	3,780	$122,698	0.01%
231	ATLANTIC TELE NETWORK INC	049079205	3,210	$116,714	0.01%
232	CA INC	12673P105	4,190	$115,475	0.01%
233	NORDIC AMERICAN TANKERS LIMI	NAT	6,960	$110,524	0.01%
234	HASBRO INC	HAS	2,930	$107,588	0.01%
235	GRUPO AEROPORTUARIO DEL SURE	40051E202	1,560	$106,891	0.01%
236	NEWMONT MINING CORP	NEMCL	1,495	$76,647	0.01%
237	INTELLIPHARMACEUTICS INTL IN	INTC	25,000	$70,499	0.01%
238	CINCINNATI FINL CORP	172062101	1,285	$44,344	0.00%