13F HOLDINGS REPORT

Northwest & Ethical Investments L.P.

Quarter ended Q2 2025 · Filed July 7, 2025 · Accession 0002033536-25-000020

Total Value

$1.22B

Positions

219

Other Managers

Confidential Omitted

View on SEC.gov

Holdings (219)

#	Issuer	Ticker / CUSIP	Shares	Value	% of Filing
1	TORONTO DOMINION BK ONT	TORO	859,763	$72.4M	5.93%
2	BANK NOVA SCOTIA HALIFAX	064149107	935,878	$54.1M	4.43%
3	MANULIFE FINL CORP	56501R106	2,447,335	$33.2M	2.72%
4	MAGNA INTL INC	559222401	638,623	$31.9M	2.61%
5	CDN IMPERIAL BK OF COMMERCE	CNDIF	394,487	$31.7M	2.60%
6	CANADIAN NATL RY CO	136375102	322,362	$29.3M	2.40%
7	BCE INC	BCPPF	677,355	$29.0M	2.38%
8	ROYAL BK CDA MONTREAL QUE	780087102	399,000	$24.0M	1.97%
9	JOHNSON & JOHNSON	JNJ	309,930	$21.7M	1.78%
10	GOOGLE INC	38259P508	30,500	$21.6M	1.77%
11	CANADIAN NAT RES LTD	136385101	735,686	$21.2M	1.73%
12	KRAFT FOODS GROUP INC	KHC	462,345	$21.0M	1.72%
13	ROGERS COMMUNICATIONS INC	RCIAF	454,400	$20.6M	1.69%
14	BEMIS INC	081437105	583,460	$19.5M	1.60%
15	CITIGROUP INC	C-PR	456,293	$18.1M	1.48%
16	QUALCOMM INC	QCOM	276,740	$17.2M	1.41%
17	DISNEY WALT CO	254687106	344,070	$17.1M	1.40%
18	ENCANA CORP	292505104	814,779	$16.1M	1.32%
19	GRANITE REAL ESTATE INC	GRTUF	416,447	$15.8M	1.29%
20	FORD MTR CO DEL	345370860	1,126,200	$14.6M	1.19%
21	CENOVUS ENERGY INC	CVE	425,632	$14.2M	1.17%
22	JPMORGAN CHASE & CO	VYLD	320,525	$14.1M	1.15%
23	SUNCOR ENERGY INC NEW	SU	425,680	$14.0M	1.15%
24	WASTE MGMT INC DEL	94106L109	413,500	$14.0M	1.14%
25	SHAW COMMUNICATIONS INC	82028K200	605,852	$13.9M	1.14%
26	BANK OF AMERICA CORPORATION	060505104	1,189,500	$13.8M	1.13%
27	TRANSGLOBE ENERGY CORP	893662106	1,412,259	$13.2M	1.08%
28	GILDAN ACTIVEWEAR INC	GIL	341,328	$12.5M	1.02%
29	CBS CORP NEW	124857202	312,900	$11.9M	0.98%
30	MICROSOFT CORP	MSFT	440,490	$11.8M	0.96%
31	DOMTAR CORP	257559203	138,550	$11.5M	0.95%
32	KONINKLIJKE PHILIPS ELECTRS	RYLPF	419,750	$11.1M	0.91%
33	CSX CORP	CSX	554,525	$10.9M	0.90%
34	INGERSOLL-RAND PLC	IR	227,538	$10.9M	0.89%
35	TARGET CORP	TGT	178,515	$10.6M	0.87%
36	DIRECTV	25490A309	203,367	$10.2M	0.84%
37	AMERICAN INTL GROUP INC	026874784	286,200	$10.1M	0.83%
38	STARBUCKS CORP	SBUX	186,300	$10.0M	0.82%
39	AGNICO EAGLE MINES LTD	AEM	189,397	$9.9M	0.81%
40	UNION PAC CORP	UNP	78,400	$9.9M	0.81%
41	PFIZER INC	PFE	380,560	$9.5M	0.78%
42	HESS CORP	HESM	173,480	$9.2M	0.75%
43	E M C CORP MASS	268648102	349,990	$8.9M	0.73%
44	COVIDIEN PLC	G2554F113	145,400	$8.4M	0.69%
45	AMERICAN EXPRESS CO	AXP	140,175	$8.1M	0.66%
46	ENI S P A	26874R108	163,100	$8.0M	0.66%
47	JUNIPER NETWORKS INC	48203R104	398,170	$7.8M	0.64%
48	WEATHERFORD INTERNATIONAL LT	WFRD	695,530	$7.8M	0.64%
49	SANOFI	SNYNF	155,375	$7.4M	0.60%
50	MONDELEZ INTL INC	609207105	284,350	$7.2M	0.59%
51	SCANSOURCE INC	SCSC	220,100	$7.0M	0.57%
52	GENERAL GROWTH PPTYS INC NEW	370023103	336,100	$6.7M	0.55%
53	PROCTER & GAMBLE CO	742718109	97,050	$6.6M	0.54%
54	CANON INC	CAJFF	167,085	$6.6M	0.54%
55	POTASH CORP SASK INC	73755L107	160,100	$6.5M	0.53%
56	YAMANA GOLD INC	98462Y100	378,700	$6.5M	0.53%
57	WATERS CORP	941848103	74,710	$6.5M	0.53%
58	WESTERN UN CO	WU	463,508	$6.3M	0.52%
59	HALLIBURTON CO	HAL	170,900	$5.9M	0.49%
60	SOUTHWEST AIRLS CO	844741108	570,380	$5.8M	0.48%
61	ELECTRONIC ARTS INC	EA	384,380	$5.6M	0.46%
62	TRW AUTOMOTIVE HLDGS CORP	87264S106	103,300	$5.5M	0.45%
63	HONDA MOTOR LTD	HNDAF	149,300	$5.5M	0.45%
64	ENBRIDGE INC	ENNPF	125,010	$5.4M	0.44%
65	GOLDCORP INC NEW	NVGLF	146,100	$5.4M	0.44%
66	RIVERBED TECHNOLOGY INC	768573107	269,290	$5.3M	0.43%
67	CORRECTIONS CORP AMER NEW	CXW	146,401	$5.2M	0.43%
68	TRANSALTA CORP	TACPF	340,566	$5.2M	0.42%
69	STATE STR CORP	STT-PG	109,829	$5.2M	0.42%
70	BANK MONTREAL QUE	063671101	84,222	$5.2M	0.42%
71	VODAFONE GROUP PLC NEW	92857W209	203,180	$5.1M	0.42%
72	BARRICK GOLD CORP	067901108	144,701	$5.1M	0.41%
73	SUN LIFE FINL INC	SUNFF	186,294	$4.9M	0.40%
74	STANTEC INC	STN	123,500	$4.9M	0.40%
75	METLIFE INC	MET-PF	146,300	$4.8M	0.39%
76	IMPERIAL OIL LTD	IMO	110,539	$4.7M	0.39%
77	SIGMA ALDRICH CORP	826552101	62,230	$4.6M	0.37%
78	CISCO SYS INC	CSCO	228,500	$4.5M	0.37%
79	RYANAIR HLDGS PLC	RYAOF	130,100	$4.5M	0.37%
80	CERNER CORP	156782104	57,310	$4.4M	0.36%
81	PALL CORP	PDYNW	72,080	$4.3M	0.36%
82	AMDOCS LTD	DOX	118,400	$4.0M	0.33%
83	GENERAL ELECTRIC CO	GE	190,300	$4.0M	0.33%
84	CAMERON INTERNATIONAL CORP	13342B105	70,040	$4.0M	0.32%
85	CAMECO CORP	CCJ	200,400	$3.9M	0.32%
86	TIME WARNER INC	887317303	80,930	$3.9M	0.32%
87	DISCOVER FINL SVCS	254709108	96,290	$3.7M	0.30%
88	COCA COLA CO	KO	102,120	$3.7M	0.30%
89	JOY GLOBAL INC	481165108	58,010	$3.7M	0.30%
90	NEW GOLD INC CDA	644535106	333,500	$3.7M	0.30%
91	CHESAPEAKE ENERGY CORP	165167107	222,050	$3.7M	0.30%
92	PPG INDS INC	693506107	27,250	$3.7M	0.30%
93	METHANEX CORP	MEOH	115,400	$3.7M	0.30%
94	AMC NETWORKS INC	AMCX	74,110	$3.7M	0.30%
95	MORGAN STANLEY	MS-PQ	184,769	$3.5M	0.29%
96	BP PLC	BPPFF	83,470	$3.5M	0.28%
97	VIRGIN MEDIA INC	92769L101	92,600	$3.4M	0.28%
98	WHOLE FOODS MKT INC	966837106	37,056	$3.4M	0.28%
99	HOWARD HUGHES CORP	HHH	45,813	$3.3M	0.27%
100	WYNN RESORTS LTD	WYNN	29,725	$3.3M	0.27%
101	SANDSTORM GOLD LTD	80013R206	271,500	$3.2M	0.26%
102	SPRINT NEXTEL CORP	852061100	559,900	$3.2M	0.26%
103	BECTON DICKINSON & CO	BDX	40,480	$3.2M	0.26%
104	MOODYS CORP	MCO	60,360	$3.0M	0.25%
105	LAZARD LTD	LAZ	100,700	$3.0M	0.25%
106	CARNIVAL CORP	CUKPF	80,820	$3.0M	0.24%
107	SILVER WHEATON CORP	828336107	81,666	$2.9M	0.24%
108	DELL INC	DELL	285,697	$2.9M	0.24%
109	COMCAST CORP NEW	CCZ	77,100	$2.9M	0.24%
110	NORFOLK SOUTHERN CORP	655844108	45,935	$2.8M	0.23%
111	CIGNA CORPORATION	CI	49,900	$2.7M	0.22%
112	EOG RES INC	EOG	21,850	$2.6M	0.22%
113	TYSON FOODS INC	TSN	134,710	$2.6M	0.21%
114	HUDBAY MINERALS INC	HBM	252,600	$2.5M	0.21%
115	AUTODESK INC	ADSK	69,980	$2.5M	0.20%
116	TEVA PHARMACEUTICAL INDS LTD	881624209	65,835	$2.5M	0.20%
117	MEAD JOHNSON NUTRITION CO	582839106	37,050	$2.4M	0.20%
118	MYRIAD GENETICS INC	MYGN	89,220	$2.4M	0.20%
119	VERIFONE SYS INC	92342Y109	78,480	$2.3M	0.19%
120	DICKS SPORTING GOODS INC	253393102	49,570	$2.3M	0.18%
121	PETROLEO BRASILEIRO SA PETRO	71654V101	114,120	$2.2M	0.18%
122	HILLENBRAND INC	431571108	96,185	$2.2M	0.18%
123	COASTAL CONTACTS INC	19044R207	352,102	$2.1M	0.17%
124	RANGE RES CORP	RRC	33,630	$2.1M	0.17%
125	CREDICORP LTD	BAP	14,286	$2.1M	0.17%
126	PEMBINA PIPELINE CORP	PPLOF	67,647	$1.9M	0.16%
127	AIR PRODS & CHEMS INC	AIIR	22,760	$1.9M	0.16%
128	MINDRAY MEDICAL INTL LTD	602675100	58,260	$1.9M	0.16%
129	APACHE CORP	APA	22,390	$1.8M	0.14%
130	BLACKSTONE GROUP L P	BX	111,200	$1.7M	0.14%
131	FOMENTO ECONOMICO MEXICANO S	344419106	16,666	$1.7M	0.14%
132	SPIRIT AIRLS INC	848577102	91,980	$1.6M	0.13%
133	BAIDU INC	BAIDF	15,693	$1.6M	0.13%
134	FORTUNA SILVER MINES INC	349915108	373,691	$1.6M	0.13%
135	CHECK POINT SOFTWARE TECH LT	M22465104	32,675	$1.6M	0.13%
136	TIFFANY & CO NEW	886547108	26,790	$1.5M	0.13%
137	ORIENT-EXPRESS HOTELS LTD	G67743107	127,944	$1.5M	0.12%
138	MANPOWERGROUP INC	MAN	31,320	$1.3M	0.11%
139	UNILEVER PLC	UNLYF	32,280	$1.2M	0.10%
140	LENNAR CORP	LEN-B	32,070	$1.2M	0.10%
141	MERCADOLIBRE INC	MELI	15,702	$1.2M	0.10%
142	HOMEAWAY INC	43739Q100	51,200	$1.1M	0.09%
143	TOLL BROTHERS INC	TOL	33,310	$1.1M	0.09%
144	BAYTEX ENERGY CORP	BTE	24,930	$1.1M	0.09%
145	NVR INC	NVR	1,140	$1.0M	0.09%
146	D R HORTON INC	23331A109	52,940	$1.0M	0.09%
147	DIANA SHIPPING INC	DSX-WT	134,990	$985,426	0.08%
148	FACEBOOK INC	META	36,780	$979,450	0.08%
149	AUTOMATIC DATA PROCESSING IN	ADP	14,975	$853,724	0.07%
150	BROOKFIELD RESIDENTIAL PPTYS	11283W104	47,429	$850,875	0.07%
151	GENERAL MLS INC	370334104	20,870	$843,356	0.07%
152	KIMBERLY CLARK CORP	KMB	9,770	$824,881	0.07%
153	LAS VEGAS SANDS CORP	LVS	16,844	$777,517	0.06%
154	BLACKROCK INC	BLK	3,575	$738,987	0.06%
155	INTEL CORP	INTC	35,215	$726,484	0.06%
156	SYSCO CORP	SYY	22,525	$713,140	0.06%
157	UNS ENERGY CORP	903119105	16,370	$694,415	0.06%
158	UNITED PARCEL SERVICE INC	UPS	9,395	$692,693	0.06%
159	CHEVRON CORP NEW	CVX	6,215	$672,089	0.06%
160	PEPSICO INC	PEP	9,400	$643,241	0.05%
161	VERIZON COMMUNICATIONS INC	VZ	14,485	$626,765	0.05%
162	MOLSON COORS BREWING CO	TAP-A	14,240	$609,328	0.05%
163	WALGREEN CO	931422109	16,350	$605,113	0.05%
164	SABRA HEALTH CARE REIT INC	SBRA	27,785	$603,490	0.05%
165	LOCKHEED MARTIN CORP	LMT	6,425	$592,962	0.05%
166	PARTNERRE LTD	PREJF	7,175	$577,515	0.05%
167	SAP AG	SAPGF	7,100	$570,697	0.05%
168	HASBRO INC	HAS	15,265	$548,012	0.04%
169	BOB EVANS FARMS INC	096761101	13,530	$543,905	0.04%
170	MEDTRONIC INC	MDT	12,990	$532,849	0.04%
171	CHUBB CORP	CB	6,745	$508,032	0.04%
172	NUCOR CORP	NUE	11,510	$497,001	0.04%
173	KOHLS CORP	KSS	11,150	$479,226	0.04%
174	DR PEPPER SNAPPLE GROUP INC	26138E109	10,825	$478,247	0.04%
175	RAYTHEON CO	755111507	8,295	$477,459	0.04%
176	GENERAL DYNAMICS CORP	GD	6,835	$473,460	0.04%
177	WAL-MART STORES INC	WMT	6,800	$463,963	0.04%
178	ASTRAZENECA PLC	AZN	9,750	$460,882	0.04%
179	TRANSOCEAN LTD	RIG	10,222	$456,411	0.04%
180	REPUBLIC SVCS INC	760759100	15,405	$451,828	0.04%
181	TELEFONICA BRASIL SA	VIV	18,659	$448,935	0.04%
182	EMERSON ELEC CO	EMR	8,220	$435,330	0.04%
183	PNC FINL SVCS GROUP INC	693475105	7,380	$430,327	0.04%
184	IRON MTN INC	462846106	13,823	$429,203	0.04%
185	DARDEN RESTAURANTS INC	DRI	9,275	$418,023	0.03%
186	CME GROUP INC	CME	8,045	$407,961	0.03%
187	OWENS & MINOR INC NEW	690732102	14,295	$407,550	0.03%
188	AVISTA CORP	AVA	16,370	$394,680	0.03%
189	TRANSMONTAIGNE PARTNERS L P	89376V100	10,090	$383,116	0.03%
190	REGAL ENTMT GROUP	758766109	26,200	$365,489	0.03%
191	CA INC	12673P105	16,355	$359,482	0.03%
192	NATIONAL CINEMEDIA INC	NCMI	24,720	$349,292	0.03%
193	CORPORATE OFFICE PPTYS TR	CDP	13,780	$344,223	0.03%
194	CONOCOPHILLIPS	COP	5,915	$343,010	0.03%
195	DUPONT FABROS TECHNOLOGY INC	26613Q106	14,180	$342,588	0.03%
196	PAYCHEX INC	PAYX	10,910	$339,736	0.03%
197	NATIONAL FUEL GAS CO N J	NFG	6,605	$334,806	0.03%
198	CORNING INC	GLW	26,395	$333,104	0.03%
199	US BANCORP DEL	USB-PS	10,410	$332,494	0.03%
200	GENUINE PARTS CO	GPC	5,215	$331,569	0.03%
201	OCCIDENTAL PETE CORP DEL	674599105	4,290	$328,656	0.03%
202	AMERIGAS PARTNERS L P	030975106	8,480	$328,514	0.03%
203	BIOMED REALTY TRUST INC	09063H107	16,980	$328,223	0.03%
204	DIGITAL RLTY TR INC	253868103	4,790	$325,192	0.03%
205	3M CO	MMM	3,435	$318,938	0.03%
206	ABM INDS INC	000957100	15,965	$318,501	0.03%
207	ALEXANDRIA REAL ESTATE EQ IN	015271109	4,410	$305,700	0.03%
208	AMERICAN GREETINGS CORP	026375105	17,860	$301,654	0.02%
209	J2 GLOBAL INC	ZD	9,770	$298,765	0.02%
210	BANCO BRADESCO S A	059460303	17,200	$298,763	0.02%
211	COMMERCE BANCSHARES INC	CBSH	8,462	$296,677	0.02%
212	ENTERGY CORP NEW	ENO	4,610	$293,886	0.02%
213	SAFETY INS GROUP INC	78648T100	6,195	$286,022	0.02%
214	KT CORP	KT	14,752	$246,948	0.02%
215	ONEBEACON INSURANCE GROUP LT	G67742109	15,405	$214,128	0.02%
216	COMPASS DIVERSIFIED HOLDINGS	CODI-PC	12,930	$190,199	0.02%
217	ATLANTIC TELE NETWORK INC	049079205	4,930	$180,979	0.01%
218	GEO GROUP INC	GEO	6,010	$169,481	0.01%
219	SASOL LTD	SASOF	1,800	$77,921	0.01%