13F HOLDINGS REPORT

Northwest & Ethical Investments L.P.

Quarter ended Q2 2025 · Filed July 8, 2025 · Accession 0002033536-25-000024

Total Value

$1.51B

Positions

229

Other Managers

Confidential Omitted

View on SEC.gov

Holdings (229)

#	Issuer	Ticker / CUSIP	Shares	Value	% of Filing
1	TORONTO DOMINION BK ONT	TORO	970,918	$91.4M	6.06%
2	BANK N S HALIFAX	064149107	1,015,368	$63.4M	4.20%
3	SUNCOR ENERGY INC NEW	SU	1,432,289	$50.1M	3.32%
4	CANADIAN NAT RES LTD	136385101	1,462,439	$49.4M	3.27%
5	TELUS CORP	TU	1,393,784	$47.9M	3.17%
6	CANADIAN NATL RY CO	136375102	725,288	$41.3M	2.74%
7	MANULIFE FINL CORP	56501R106	1,968,659	$38.8M	2.57%
8	CDN IMPERIAL BK OF COMMERCE	CNDIF	395,287	$33.7M	2.23%
9	SYMANTEC CORP	871503108	1,241,400	$29.3M	1.94%
10	ROGERS COMMUNICATIONS INC	RCIAF	597,800	$27.0M	1.79%
11	SUN LIFE FINL INC	SUNFF	747,332	$26.4M	1.75%
12	BAXTER INTL INC	071813109	357,500	$24.9M	1.65%
13	MERCK & CO INC NEW	MRK	485,650	$24.3M	1.61%
14	DOMTAR CORP	257559203	252,850	$23.8M	1.58%
15	CATERPILLAR INC DEL	CAT	256,710	$23.3M	1.54%
16	BARRICK GOLD CORP	067901108	1,305,639	$23.0M	1.52%
17	ROYAL BK CDA MONTREAL QUE	780087102	328,480	$22.1M	1.46%
18	JPMORGAN CHASE & CO	VYLD	319,825	$18.7M	1.24%
19	BCE INC	BCPPF	427,476	$18.5M	1.23%
20	ENI S P A	26874R108	366,100	$17.8M	1.18%
21	BEMIS INC	081437105	414,300	$17.0M	1.12%
22	APPLE INC	AAPL	29,860	$16.8M	1.11%
23	KONINKLIJKE PHILIPS N V	RYLPF	433,159	$16.0M	1.06%
24	ORACLE CORP	ORCL-PD	391,700	$15.0M	0.99%
25	TARGET CORP	TGT	236,110	$14.9M	0.99%
26	GOOGLE INC	38259P508	12,920	$14.5M	0.96%
27	E M C CORP MASS	268648102	571,170	$14.4M	0.95%
28	JOHNSON & JOHNSON	JNJ	146,430	$13.4M	0.89%
29	GRANITE REAL ESTATE INVT TR	387437114	362,097	$13.2M	0.87%
30	QUALCOMM INC	QCOM	175,960	$13.1M	0.87%
31	SHAW COMMUNICATIONS INC	82028K200	511,502	$12.4M	0.82%
32	CITIGROUP INC	C-PR	224,731	$11.7M	0.78%
33	DIRECTV	25490A309	166,450	$11.5M	0.76%
34	JUNIPER NETWORKS INC	48203R104	507,200	$11.4M	0.76%
35	DISNEY WALT CO	254687106	140,150	$10.7M	0.71%
36	SCANSOURCE INC	SCSC	220,100	$9.3M	0.62%
37	GILDAN ACTIVEWEAR INC	GIL	174,186	$9.3M	0.61%
38	MICROSOFT CORP	MSFT	243,915	$9.1M	0.60%
39	PEMBINA PIPELINE CORP	PPLOF	258,340	$9.1M	0.60%
40	CAMERON INTERNATIONAL CORP	13342B105	146,320	$8.7M	0.58%
41	SANOFI	SNYNF	158,725	$8.5M	0.56%
42	BANK OF AMERICA CORPORATION	060505104	544,900	$8.5M	0.56%
43	INGERSOLL-RAND PLC	IR	136,514	$8.4M	0.56%
44	CVS CAREMARK CORPORATION	CVS	115,700	$8.3M	0.55%
45	ELECTRONIC ARTS INC	EA	358,070	$8.2M	0.54%
46	HALLIBURTON CO	HAL	155,200	$7.9M	0.52%
47	HESS CORP	HESM	94,630	$7.9M	0.52%
48	GOLDCORP INC NEW	NVGLF	361,190	$7.8M	0.52%
49	CENOVUS ENERGY INC	CVE	273,593	$7.8M	0.52%
50	TRANSGLOBE ENERGY CORP	893662106	929,675	$7.8M	0.51%
51	LYONDELLBASELL INDUSTRIES N	LYB	96,300	$7.7M	0.51%
52	COVIDIEN PLC	G2554F113	112,800	$7.7M	0.51%
53	AMERISOURCEBERGEN CORP	COR	107,300	$7.5M	0.50%
54	TRW AUTOMOTIVE HLDGS CORP	87264S106	100,800	$7.5M	0.50%
55	SOLARCITY CORP	83416T100	130,800	$7.4M	0.49%
56	EBAY INC	EBAY	133,660	$7.3M	0.49%
57	VODAFONE GROUP PLC NEW	92857W209	177,840	$7.0M	0.46%
58	AMDOCS LTD	DOX	169,130	$7.0M	0.46%
59	RYANAIR HLDGS PLC	RYAOF	142,015	$6.7M	0.44%
60	AGRIUM INC	008916108	71,800	$6.6M	0.43%
61	APACHE CORP	APA	75,660	$6.5M	0.43%
62	WEATHERFORD INTERNATIONAL LT	WFRD	417,790	$6.5M	0.43%
63	YUM BRANDS INC	YUM	85,210	$6.4M	0.43%
64	POTASH CORP SASK INC	73755L107	184,970	$6.1M	0.40%
65	NEXSTAR BROADCASTING GROUP I	NXST	106,960	$6.0M	0.39%
66	MAGNA INTL INC	559222401	72,000	$5.9M	0.39%
67	GENERAL ELECTRIC CO	GE	200,800	$5.6M	0.37%
68	BECTON DICKINSON & CO	BDX	50,515	$5.6M	0.37%
69	BB&T CORP	054937107	146,300	$5.5M	0.36%
70	COCA COLA CO	KO	129,350	$5.3M	0.35%
71	YAHOO INC	984332106	130,100	$5.3M	0.35%
72	UNITEDHEALTH GROUP INC	UNH	68,900	$5.2M	0.34%
73	ALAMOS GOLD INC	AGI	410,669	$5.0M	0.33%
74	C H ROBINSON WORLDWIDE INC	CHRW	82,970	$4.8M	0.32%
75	WESTERN UN CO	WU	279,498	$4.8M	0.32%
76	PRECISION DRILLING CORP	PDS	515,000	$4.8M	0.32%
77	TIME WARNER INC	887317303	68,420	$4.8M	0.32%
78	AGNICO EAGLE MINES LTD	AEM	179,896	$4.7M	0.31%
79	BAIDU INC	BAIDF	26,592	$4.7M	0.31%
80	INTEL CORP	INTC	177,475	$4.6M	0.31%
81	STARBUCKS CORP	SBUX	58,500	$4.6M	0.30%
82	FASTENAL CO	FAST	94,900	$4.5M	0.30%
83	CBS CORP NEW	124857202	69,400	$4.4M	0.29%
84	CERNER CORP	156782104	77,760	$4.3M	0.29%
85	TRANSALTA CORP	TACPF	340,973	$4.3M	0.29%
86	AMERICAN EXPRESS CO	AXP	46,741	$4.2M	0.28%
87	MEAD JOHNSON NUTRITION CO	582839106	49,580	$4.2M	0.28%
88	OCCIDENTAL PETE CORP DEL	674599105	41,925	$4.0M	0.26%
89	SKYWORKS SOLUTIONS INC	SWKS	136,630	$3.9M	0.26%
90	NATIONAL FUEL GAS CO N J	NFG	54,535	$3.9M	0.26%
91	RANGE RES CORP	RRC	45,840	$3.9M	0.26%
92	METLIFE INC	MET-PF	70,200	$3.8M	0.25%
93	CAMECO CORP	CCJ	178,800	$3.7M	0.25%
94	JOY GLOBAL INC	481165108	63,110	$3.7M	0.24%
95	3-D SYS CORP DEL	88554D205	39,700	$3.7M	0.24%
96	UNITED PARCEL SERVICE INC	UPS	34,755	$3.7M	0.24%
97	DR PEPPER SNAPPLE GROUP INC	26138E109	74,655	$3.6M	0.24%
98	HASBRO INC	HAS	65,520	$3.6M	0.24%
99	PRICELINE COM INC	741503403	3,100	$3.6M	0.24%
100	PNC FINL SVCS GROUP INC	693475105	46,140	$3.6M	0.24%
101	KOHLS CORP	KSS	62,350	$3.5M	0.23%
102	AMBEV SA	ABEV	480,850	$3.5M	0.23%
103	EOG RES INC	EOG	20,750	$3.5M	0.23%
104	LAZARD LTD	LAZ	76,800	$3.5M	0.23%
105	GENERAL DYNAMICS CORP	GD	36,325	$3.5M	0.23%
106	GENERAL GROWTH PPTYS INC NEW	370023103	172,548	$3.5M	0.23%
107	CHESAPEAKE ENERGY CORP	165167107	123,050	$3.3M	0.22%
108	CORNING INC	GLW	186,825	$3.3M	0.22%
109	CME GROUP INC	CME	41,885	$3.3M	0.22%
110	MORGAN STANLEY	MS-PQ	100,468	$3.2M	0.21%
111	KIMBERLY CLARK CORP	KMB	29,770	$3.1M	0.21%
112	REALOGY HLDGS CORP	75605Y106	61,970	$3.1M	0.20%
113	AMERICAN INTL GROUP INC	026874784	59,500	$3.0M	0.20%
114	SYSCO CORP	SYY	83,735	$3.0M	0.20%
115	WILLIAMS PARTNERS L P	96950F104	59,025	$3.0M	0.20%
116	MSCI INC	MSCI	68,620	$3.0M	0.20%
117	BLACKSTONE GROUP L P	BX	94,200	$3.0M	0.20%
118	VERIZON COMMUNICATIONS INC	VZ	60,290	$3.0M	0.20%
119	US BANCORP DEL	USB-PS	72,905	$2.9M	0.20%
120	PEPSICO INC	PEP	35,505	$2.9M	0.20%
121	STARZ	85571Q102	99,840	$2.9M	0.19%
122	CHECK POINT SOFTWARE TECH LT	M22465104	45,070	$2.9M	0.19%
123	CHEVRON CORP NEW	CVX	23,200	$2.9M	0.19%
124	DICKS SPORTING GOODS INC	253393102	49,690	$2.9M	0.19%
125	EMERSON ELEC CO	EMR	40,800	$2.9M	0.19%
126	KRAFT FOODS GROUP INC	KHC	53,100	$2.9M	0.19%
127	BANK MONTREAL QUE	063671101	42,900	$2.9M	0.19%
128	WYNN RESORTS LTD	WYNN	14,549	$2.8M	0.19%
129	PARTNERRE LTD	PREJF	26,375	$2.8M	0.18%
130	CORRECTIONS CORP AMER NEW	CXW	86,075	$2.8M	0.18%
131	BLACKROCK INC	BLK	8,640	$2.7M	0.18%
132	RAYTHEON CO	755111507	29,950	$2.7M	0.18%
133	LULULEMON ATHLETICA INC	LULU	45,920	$2.7M	0.18%
134	STAPLES INC	855030102	170,415	$2.7M	0.18%
135	COACH INC	189754104	47,345	$2.7M	0.18%
136	CA INC	12673P105	77,710	$2.6M	0.17%
137	BOB EVANS FARMS INC	096761101	51,320	$2.6M	0.17%
138	UNILEVER PLC	UNLYF	62,810	$2.6M	0.17%
139	TECK RESOURCES LTD	TCKRF	98,400	$2.6M	0.17%
140	HOWARD HUGHES CORP	HHH	21,252	$2.6M	0.17%
141	WAL-MART STORES INC	WMT	32,280	$2.5M	0.17%
142	DARDEN RESTAURANTS INC	DRI	46,125	$2.5M	0.17%
143	NORFOLK SOUTHERN CORP	655844108	26,750	$2.5M	0.16%
144	GILEAD SCIENCES INC	GILD	32,900	$2.5M	0.16%
145	RANDGOLD RES LTD	752344309	39,200	$2.5M	0.16%
146	IRON MTN INC	462846106	79,993	$2.4M	0.16%
147	OWENS & MINOR INC NEW	690732102	64,770	$2.4M	0.16%
148	FACEBOOK INC	META	43,160	$2.4M	0.16%
149	FORTINET INC	FTNT	122,410	$2.3M	0.16%
150	ENSCO PLC	G3157S106	40,660	$2.3M	0.15%
151	J2 GLOBAL INC	ZD	46,250	$2.3M	0.15%
152	GEO GROUP INC	GEO	71,470	$2.3M	0.15%
153	NUCOR CORP	NUE	42,725	$2.3M	0.15%
154	PRIMERO MNG CORP	74164W106	517,730	$2.3M	0.15%
155	INGREDION INC	INGR	32,930	$2.3M	0.15%
156	MOLSON COORS BREWING CO	TAP-A	40,130	$2.3M	0.15%
157	FORTUNA SILVER MINES INC	349915108	767,184	$2.2M	0.15%
158	CIGNA CORPORATION	CI	25,100	$2.2M	0.15%
159	HCA HOLDINGS INC	HCA	44,300	$2.1M	0.14%
160	PROCTER & GAMBLE CO	742718109	24,900	$2.0M	0.13%
161	PETROLEO BRASILEIRO SA PETRO	71654V101	137,000	$2.0M	0.13%
162	LAS VEGAS SANDS CORP	LVS	24,883	$2.0M	0.13%
163	REPUBLIC SVCS INC	760759100	58,435	$1.9M	0.13%
164	AMERIGAS PARTNERS L P	030975106	42,575	$1.9M	0.13%
165	LOCKHEED MARTIN CORP	LMT	12,690	$1.9M	0.12%
166	BP PLC	BPPFF	38,736	$1.9M	0.12%
167	F5 NETWORKS INC	FFIV	20,260	$1.8M	0.12%
168	AIRCASTLE LTD	AYR	84,215	$1.6M	0.11%
169	WALGREEN CO	931422109	27,070	$1.6M	0.10%
170	MINDRAY MEDICAL INTL LTD	602675100	42,650	$1.6M	0.10%
171	XYLEM INC	XYL	44,510	$1.5M	0.10%
172	AVISTA CORP	AVA	54,515	$1.5M	0.10%
173	SABRA HEALTH CARE REIT INC	SBRA	58,020	$1.5M	0.10%
174	SOTHEBYS	835898107	28,300	$1.5M	0.10%
175	VERIFONE SYS INC	92342Y109	51,010	$1.4M	0.09%
176	KANSAS CITY SOUTHERN	485170302	11,000	$1.4M	0.09%
177	BJS RESTAURANTS INC	BJRI	41,470	$1.3M	0.09%
178	MEMORIAL PRODTN PARTNERS LP	586048100	57,680	$1.3M	0.08%
179	SPIRIT AIRLS INC	848577102	26,960	$1.2M	0.08%
180	ORIENT-EXPRESS HOTELS LTD	G67743107	77,758	$1.2M	0.08%
181	MADISON SQUARE GARDEN CO	55826P100	19,250	$1.1M	0.07%
182	HOMEAWAY INC	43739Q100	25,860	$1.1M	0.07%
183	SINCLAIR BROADCAST GROUP INC	SBGI	25,950	$927,193	0.06%
184	GENERAL MLS INC	370334104	18,480	$922,335	0.06%
185	TOLL BROTHERS INC	TOL	24,710	$914,269	0.06%
186	INNOPHOS HOLDINGS INC	INHD	18,490	$898,613	0.06%
187	ALEXANDRIA REAL ESTATE EQ IN	015271109	13,840	$880,500	0.06%
188	LENNAR CORP	LEN-B	22,230	$879,417	0.06%
189	BIOMED REALTY TRUST INC	09063H107	48,360	$876,282	0.06%
190	NATIONAL CINEMEDIA INC	NCMI	42,780	$853,888	0.06%
191	WISDOMTREE TR	WT	47,869	$834,834	0.06%
192	ALLEGION PUB LTD CO	ALLE	17,371	$767,624	0.05%
193	SAFETY INS GROUP INC	78648T100	13,160	$740,907	0.05%
194	ABM INDS INC	000957100	25,260	$722,181	0.05%
195	TRANSMONTAIGNE PARTNERS L P	89376V100	16,895	$718,037	0.05%
196	BAYTEX ENERGY CORP	BTE	16,720	$654,586	0.04%
197	COMPASS MINERALS INTL INC	COMP	7,941	$635,675	0.04%
198	FRANCO NEVADA CORP	FNV	15,010	$610,925	0.04%
199	COMPASS DIVERSIFIED HOLDINGS	CODI-PC	29,215	$573,490	0.04%
200	DIGITAL RLTY TR INC	253868103	11,340	$557,020	0.04%
201	DUPONT FABROS TECHNOLOGY INC	26613Q106	21,890	$540,901	0.04%
202	ATLANTIC TELE NETWORK INC	049079205	9,560	$540,808	0.04%
203	DIANA SHIPPING INC	DSX-WT	37,770	$501,962	0.03%
204	CORPORATE OFFICE PPTYS TR	CDP	20,950	$496,305	0.03%
205	HILLENBRAND INC	431571108	16,791	$493,990	0.03%
206	LIN MEDIA LLC	532771102	17,060	$489,792	0.03%
207	HDFC BANK LTD	HDB	13,505	$465,111	0.03%
208	CREDICORP LTD	BAP	3,167	$420,355	0.03%
209	ONEBEACON INSURANCE GROUP LT	G67742109	23,310	$368,763	0.02%
210	COPA HOLDINGS SA	CPA	2,297	$367,772	0.02%
211	CEMEX SAB DE CV	CXMSF	30,971	$366,386	0.02%
212	MOBILE TELESYSTEMS OJSC	607409109	13,770	$297,845	0.02%
213	BANCO BRADESCO S A	059460303	19,038	$238,545	0.02%
214	WUXI PHARMATECH CAYMAN INC	929352102	5,763	$221,183	0.01%
215	TATA MTRS LTD	876568502	6,701	$206,389	0.01%
216	COGNIZANT TECHNOLOGY SOLUTIO	CTSH	2,023	$204,281	0.01%
217	SINA CORP	G81477104	2,344	$197,481	0.01%
218	SOUTHERN COPPER CORP	SCCO	6,518	$187,131	0.01%
219	FRONTLINE LTD	FRO	50,000	$186,999	0.01%
220	58 COM INC	31680Q104	4,842	$185,641	0.01%
221	GRUPO FINANCIERO SANTANDER M	40053C105	13,582	$185,257	0.01%
222	FOMENTO ECONOMICO MEXICANO S	344419106	1,791	$175,284	0.01%
223	VIPSHOP HLDGS LTD	VIPS	2,062	$172,547	0.01%
224	YOUKU TUDOU INC	98742U100	5,459	$165,407	0.01%
225	DR REDDYS LABS LTD	256135203	3,900	$160,016	0.01%
226	HIMAX TECHNOLOGIES INC	HIMX	10,343	$152,145	0.01%
227	COSAN LTD	CSAN	10,982	$150,672	0.01%
228	QIWI PLC	74735M108	1,383	$77,447	0.01%
229	AUTOHOME INC	ATHM	1,479	$54,116	0.00%