Vault-13

QV Investors Inc.

CALGARY, A0 · CIK 1570253 · 13F filing filed 2026-07-21

No investment adviser registration (Form ADV) found for this filer. It may be a parent company whose subsidiaries are the registered advisers, a bank or insurer, or a manager based outside the US.

$1.3bn reported value +5.1% vs Q1 2026
68positions
42.5%in top 10
4 new 12 added 49 reduced 1 sold out vs Q1 2026

Holdings, Q2 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#SecurityTickerShares Value% of portfolioChangeShares change
1 SUNOCOCORP LLC COM SHS LLC SUNC SUNC 1,052,334 $71.2m5.48% 5.48% ReducedShares held: Q3 2025 0, Q4 2025 1.2m, Q1 2026 1.2m, Q2 2026 1.1m -119.1k -119,080 -10.2%
2 CANADIAN NATL RY CO COM CNI CNI 591,760 $70.6m5.43% 5.43% ReducedShares held: Q3 2025 585.5k, Q4 2025 629.1k, Q1 2026 616.1k, Q2 2026 591.8k -24.4k -24,350 -4.0%
3 ROYAL BK CDA COM RY RY 326,549 $67.6m5.20% 5.20% ReducedShares held: Q3 2025 453.5k, Q4 2025 421.0k, Q1 2026 412.4k, Q2 2026 326.5k -85.8k -85,821 -20.8%
4 CANADIAN PACIFIC KANSAS CITY COM CP CP 683,546 $59.2m4.56% 4.56% ReducedShares held: Q3 2025 0, Q4 2025 728.0k, Q1 2026 713.0k, Q2 2026 683.5k -29.4k -29,430 -4.1%
5 CGI INC CL A SUB VTG GIB GIB 908,728 $58.7m4.52% 4.52% AddedShares held: Q3 2025 761.9k, Q4 2025 707.2k, Q1 2026 692.6k, Q2 2026 908.7k +216.1k +216,086 31.2%
6 TORONTO DOMINION BK ONT COM NEW TD TD 394,545 $48.0m3.69% 3.69% ReducedShares held: Q3 2025 507.6k, Q4 2025 471.1k, Q1 2026 461.4k, Q2 2026 394.5k -66.8k -66,839 -14.5%
7 FORTIS INC COM FTS FTS 822,277 $47.1m3.62% 3.62% ReducedShares held: Q3 2025 969.7k, Q4 2025 899.7k, Q1 2026 853.0k, Q2 2026 822.3k -30.8k -30,760 -3.6%
8 TFI INTL INC COM TFII TFII 316,026 $45.5m3.50% 3.50% ReducedShares held: Q3 2025 441.5k, Q4 2025 409.7k, Q1 2026 401.3k, Q2 2026 316.0k -85.3k -85,269 -21.2%
9 FRANCO NEV CORP COM FNV FNV 211,562 $44.1m3.40% 3.40% ReducedShares held: Q3 2025 244.1k, Q4 2025 226.6k, Q1 2026 221.9k, Q2 2026 211.6k -10.3k -10,350 -4.7%
10 EMERA INC COM EMA EMA 747,226 $39.6m3.05% 3.05% ReducedShares held: Q3 2025 861.5k, Q4 2025 799.4k, Q1 2026 782.9k, Q2 2026 747.2k -35.7k -35,660 -4.5%
11 SUN LIFE FINANCIAL INC. COM SLF SLF 487,300 $38.2m2.94% 2.94% ReducedShares held: Q3 2025 1.0m, Q4 2025 798.5k, Q1 2026 516.5k, Q2 2026 487.3k -29.2k -29,210 -5.7%
12 ENBRIDGE INC COM ENB ENB 696,095 $37.7m2.90% 2.90% ReducedShares held: Q3 2025 1.2m, Q4 2025 1.1m, Q1 2026 730.3k, Q2 2026 696.1k -34.2k -34,230 -4.7%
13 MAGNA INTL INC COM MGA MGA 554,841 $36.5m2.81% 2.81% ReducedShares held: Q3 2025 645.4k, Q4 2025 598.6k, Q1 2026 586.2k, Q2 2026 554.8k -31.4k -31,350 -5.3%
14 STANTEC INC COM STN STN 511,665 $35.3m2.72% 2.72% AddedShares held: Q3 2025 161.0k, Q4 2025 0, Q1 2026 160.3k, Q2 2026 511.7k +351.3k +351,330 219.1%
15 BRP INC COM SUN VTG DOO DOO 558,363 $34.1m2.62% 2.62% AddedShares held: Q3 2025 482.6k, Q4 2025 447.8k, Q1 2026 438.5k, Q2 2026 558.4k +119.8k +119,825 27.3%
16 RB GLOBAL INC COM RBA RBA 292,372 $34.0m2.62% 2.62% ReducedShares held: Q3 2025 338.0k, Q4 2025 313.6k, Q1 2026 307.1k, Q2 2026 292.4k -14.7k -14,720 -4.8%
17 BROOKFIELD CORP CL A LTD VT SH BN BN 649,449 $27.7m2.13% 2.13% ReducedShares held: Q3 2025 457.8k, Q4 2025 425.8k, Q1 2026 684.1k, Q2 2026 649.4k -34.6k -34,640 -5.1%
18 ROGERS COMMUNICATIONS INC CL B RCI RCI 818,963 $26.6m2.05% 2.05% ReducedShares held: Q3 2025 935.8k, Q4 2025 868.8k, Q1 2026 850.8k, Q2 2026 819.0k -31.9k -31,880 -3.8%
19 WEST FRASER TIMBER CO LTD COM WFG WFG 355,987 $24.1m1.85% 1.85% AddedShares held: Q3 2025 0, Q4 2025 0, Q1 2026 236.0k, Q2 2026 356.0k +119.9k +119,945 50.8%
20 CANADIAN NAT RES LTD COM CNQ CNQ 534,597 $21.1m1.63% 1.63% ReducedShares held: Q3 2025 621.9k, Q4 2025 576.7k, Q1 2026 564.8k, Q2 2026 534.6k -30.2k -30,210 -5.3%
21 EOG RES INC COM EOG EOG 162,995 $21.1m1.63% 1.63% ReducedShares held: Q3 2025 77.2k, Q4 2025 71.9k, Q1 2026 167.2k, Q2 2026 163.0k -4.2k -4,250 -2.5%
22 CENTENE CORP DEL COM CNC CNC 307,772 $19.8m1.52% 1.52% ReducedShares held: Q3 2025 361.7k, Q4 2025 472.0k, Q1 2026 316.1k, Q2 2026 307.8k -8.4k -8,360 -2.6%
23 PEPSICO INC COM PEP PEP 139,795 $18.9m1.46% 1.46% ReducedShares held: Q3 2025 153.0k, Q4 2025 151.0k, Q1 2026 143.7k, Q2 2026 139.8k -3.9k -3,880 -2.7%
24 DOLLAR GEN CORP NEW COM DG DG 159,850 $18.4m1.42% 1.42% AddedShares held: Q3 2025 123.7k, Q4 2025 141.5k, Q1 2026 132.6k, Q2 2026 159.8k +27.2k +27,220 20.5%
25 NOVO-NORDISK A S ADR NVO NVO 369,468 $17.7m1.36% 1.36% AddedShares held: Q3 2025 223.2k, Q4 2025 208.3k, Q1 2026 287.6k, Q2 2026 369.5k +81.9k +81,870 28.5%
26 IMPERIAL OIL LTD COM NEW IMO IMO 156,597 $17.6m1.35% 1.35% ReducedShares held: Q3 2025 219.3k, Q4 2025 203.6k, Q1 2026 199.4k, Q2 2026 156.6k -42.8k -42,829 -21.5%
27 UNION PAC CORP COM UNP UNP 62,791 $17.1m1.31% 1.31% ReducedShares held: Q3 2025 73.3k, Q4 2025 68.6k, Q1 2026 64.5k, Q2 2026 62.8k -1.7k -1,730 -2.7%
28 SOLVENTUM CORP COM SHS SOLV SOLV 218,692 $16.9m1.30% 1.30% ReducedShares held: Q3 2025 235.1k, Q4 2025 239.3k, Q1 2026 224.7k, Q2 2026 218.7k -6.0k -5,980 -2.7%
29 NETFLIX INC COM NFLX NFLX 230,060 $16.4m1.26% 1.26% AddedShares held: Q3 2025 0, Q4 2025 0, Q1 2026 90.9k, Q2 2026 230.1k +139.2k +139,170 153.1%
30 THOR INDS INC COM THO THO 197,996 $14.9m1.15% 1.15% AddedShares held: Q3 2025 133.5k, Q4 2025 109.8k, Q1 2026 110.4k, Q2 2026 198.0k +87.6k +87,590 79.3%
31 AMAZON COM INC COM AMZN AMZN 61,920 $14.8m1.14% 1.14% ReducedShares held: Q3 2025 74.8k, Q4 2025 65.0k, Q1 2026 63.7k, Q2 2026 61.9k -1.8k -1,780 -2.8%
32 MICROSOFT CORP COM MSFT MSFT 38,460 $14.3m1.10% 1.10% NewShares held: Q3 2025 0, Q4 2025 0, Q1 2026 0, Q2 2026 38.5k
33 UNILEVER PLC SPON ADR NEW UL UL 206,353 $12.4m0.95% 0.95% ReducedShares held: Q3 2025 0, Q4 2025 222.8k, Q1 2026 211.9k, Q2 2026 206.4k -5.5k -5,530 -2.6%
34 OLD DOMINION FREIGHT LINE IN COM ODFL ODFL 56,110 $12.2m0.94% 0.94% ReducedShares held: Q3 2025 0, Q4 2025 125.9k, Q1 2026 123.4k, Q2 2026 56.1k -67.3k -67,300 -54.5%
35 CHEVRON CORP NEW COM CVX CVX 70,457 $11.7m0.90% 0.90% ReducedShares held: Q3 2025 24.9k, Q4 2025 23.1k, Q1 2026 91.9k, Q2 2026 70.5k -21.5k -21,480 -23.4%
36 ALPHABET INC CAP STK CL A GOOGL GOOGL 32,410 $11.6m0.89% 0.89% ReducedShares held: Q3 2025 88.4k, Q4 2025 47.9k, Q1 2026 33.3k, Q2 2026 32.4k -890 -890 -2.7%
37 LENNOX INTL INC COM LII LII 19,724 $11.3m0.87% 0.87% AddedShares held: Q3 2025 5.1k, Q4 2025 7.8k, Q1 2026 7.6k, Q2 2026 19.7k +12.1k +12,110 159.1%
38 LAUDER ESTEE COS INC CL A EL EL 136,530 $10.8m0.83% 0.83% AddedShares held: Q3 2025 84.2k, Q4 2025 108.6k, Q1 2026 102.1k, Q2 2026 136.5k +34.4k +34,410 33.7%
39 STARBUCKS CORP COM SBUX SBUX 104,060 $10.6m0.82% 0.82% ReducedShares held: Q3 2025 85.0k, Q4 2025 175.8k, Q1 2026 165.0k, Q2 2026 104.1k -61.0k -60,960 -36.9%
40 UNITEDHEALTH GROUP INC COM UNH UNH 24,874 $10.3m0.80% 0.80% ReducedShares held: Q3 2025 51.8k, Q4 2025 48.4k, Q1 2026 25.6k, Q2 2026 24.9k -680 -680 -2.7%
41 DARDEN RESTAURANTS INC COM DRI DRI 49,472 $10.2m0.78% 0.78% ReducedShares held: Q3 2025 32.7k, Q4 2025 53.9k, Q1 2026 50.8k, Q2 2026 49.5k -1.4k -1,360 -2.7%
42 HALLIBURTON CO COM HAL HAL 262,000 $8.9m0.68% 0.68% ReducedShares held: Q3 2025 0, Q4 2025 113.1k, Q1 2026 348.3k, Q2 2026 262.0k -86.3k -86,320 -24.8%
43 EXXONMOBIL HOLDINGS CORP COM SHS STOCK XOM XOM 63,161 $8.6m0.66% 0.66% NewShares held: Q3 2025 0, Q4 2025 0, Q1 2026 0, Q2 2026 63.2k
44 NATIONAL RESH CORP COM NEW NRC NRC 372,503 $8.0m0.62% 0.62% ReducedShares held: Q3 2025 381.3k, Q4 2025 381.3k, Q1 2026 381.3k, Q2 2026 372.5k -8.8k -8,807 -2.3%
45 HIMS & HERS HEALTH INC COM CL A HIMS HIMS 224,130 $7.8m0.60% 0.60% NewShares held: Q3 2025 0, Q4 2025 0, Q1 2026 0, Q2 2026 224.1k
46 BANK OZK LITTLE ROCK ARK COM OZK OZK 142,060 $7.4m0.57% 0.57% ReducedShares held: Q3 2025 183.8k, Q4 2025 159.6k, Q1 2026 145.4k, Q2 2026 142.1k -3.3k -3,310 -2.3%
47 ALIBABA GROUP HLDG LTD SPONSORED ADS BABA BABA 74,347 $7.1m0.55% 0.55% AddedShares held: Q3 2025 61.4k, Q4 2025 49.3k, Q1 2026 48.3k, Q2 2026 74.3k +26.0k +26,000 53.8%
48 WARRIOR MET COAL INC COM HCC HCC 84,095 $6.8m0.53% 0.53% ReducedShares held: Q3 2025 165.8k, Q4 2025 154.8k, Q1 2026 120.0k, Q2 2026 84.1k -35.9k -35,880 -29.9%
49 AUTOZONE INC COM AZO AZO 2,102 $6.7m0.52% 0.52% ReducedShares held: Q3 2025 2.9k, Q4 2025 2.2k, Q1 2026 2.2k, Q2 2026 2.1k -60 -60 -2.8%
50 JOHNSON & JOHNSON COM JNJ JNJ 25,880 $6.6m0.51% 0.51% ReducedShares held: Q3 2025 140.4k, Q4 2025 84.4k, Q1 2026 26.7k, Q2 2026 25.9k -850 -850 -3.2%
51 PACCAR INC COM PCAR PCAR 53,310 $6.4m0.49% 0.49% ReducedShares held: Q3 2025 49.0k, Q4 2025 56.0k, Q1 2026 55.0k, Q2 2026 53.3k -1.7k -1,740 -3.2%
52 CUMMINS INC COM CMI CMI 7,420 $5.3m0.41% 0.41% ReducedShares held: Q3 2025 14.3k, Q4 2025 13.3k, Q1 2026 9.2k, Q2 2026 7.4k -1.8k -1,765 -19.2%
53 BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B BRK.B 9,931 $5.0m0.38% 0.38% ReducedShares held: Q3 2025 11.3k, Q4 2025 10.5k, Q1 2026 10.3k, Q2 2026 9.9k -320 -320 -3.1%
54 JPMORGAN CHASE & CO COM JPM JPM 12,245 $4.0m0.31% 0.31% ReducedShares held: Q3 2025 14.0k, Q4 2025 12.9k, Q1 2026 12.6k, Q2 2026 12.2k -400 -400 -3.2%
55 3M CO COM MMM MMM 23,730 $3.8m0.30% 0.30% ReducedShares held: Q3 2025 27.0k, Q4 2025 25.0k, Q1 2026 24.5k, Q2 2026 23.7k -770 -770 -3.1%
56 ROSS STORES INC COM ROST ROST 17,880 $3.8m0.29% 0.29% ReducedShares held: Q3 2025 30.7k, Q4 2025 18.8k, Q1 2026 18.5k, Q2 2026 17.9k -590 -590 -3.2%
57 APPLIED MATLS INC COM AMAT AMAT 4,490 $3.2m0.25% 0.25% ReducedShares held: Q3 2025 59.1k, Q4 2025 34.2k, Q1 2026 11.0k, Q2 2026 4.5k -6.5k -6,540 -59.3%
58 AMERICAN EXPRESS CO COM AXP AXP 9,220 $3.1m0.24% 0.24% ReducedShares held: Q3 2025 10.5k, Q4 2025 9.7k, Q1 2026 9.5k, Q2 2026 9.2k -290 -290 -3.0%
59 HOME DEPOT INC COM HD HD 8,597 $3.0m0.23% 0.23% ReducedShares held: Q3 2025 9.8k, Q4 2025 9.1k, Q1 2026 8.9k, Q2 2026 8.6k -270 -270 -3.0%
60 XPEL INC COM XPEL XPEL 51,650 $2.6m0.20% 0.20% UnchangedShares held: Q3 2025 31.6k, Q4 2025 51.6k, Q1 2026 51.6k, Q2 2026 51.6k
61 DISNEY WALT CO COM DIS DIS 26,340 $2.5m0.20% 0.20% ReducedShares held: Q3 2025 30.1k, Q4 2025 27.8k, Q1 2026 27.2k, Q2 2026 26.3k -860 -860 -3.2%
62 MERCK & CO INC COM MRK MRK 18,367 $2.4m0.18% 0.18% ReducedShares held: Q3 2025 140.7k, Q4 2025 136.7k, Q1 2026 128.9k, Q2 2026 18.4k -110.6k -110,570 -85.8%
63 HAEMONETICS CORP MASS COM HAE HAE 30,720 $2.3m0.18% 0.18% UnchangedShares held: Q3 2025 21.9k, Q4 2025 21.9k, Q1 2026 30.7k, Q2 2026 30.7k
64 MCKESSON CORP COM MCK MCK 2,829 $2.1m0.16% 0.16% ReducedShares held: Q3 2025 3.2k, Q4 2025 3.0k, Q1 2026 2.9k, Q2 2026 2.8k -90 -90 -3.1%
65 TREX CO INC COM TREX TREX 32,270 $1.6m0.12% 0.12% NewShares held: Q3 2025 0, Q4 2025 0, Q1 2026 0, Q2 2026 32.3k
66 ONE GAS INC COM OGS OGS 19,660 $1.5m0.12% 0.12% AddedShares held: Q3 2025 14.0k, Q4 2025 14.0k, Q1 2026 14.0k, Q2 2026 19.7k +5.6k +5,630 40.1%
67 VIPER ENERGY INC CL A VNOM VNOM 35,215 $1.5m0.11% 0.11% UnchangedShares held: Q3 2025 23.0k, Q4 2025 28.9k, Q1 2026 35.2k, Q2 2026 35.2k
68 BANK AMERICA CORP COM BAC BAC 18,210 $1.0m0.08% 0.08% ReducedShares held: Q3 2025 20.7k, Q4 2025 19.2k, Q1 2026 18.8k, Q2 2026 18.2k -590 -590 -3.1%

Sold out since Q1 2026

SecurityTickerShares held beforeValue then
EXXON MOBIL CORP XOM XOM 89,721 $15.2m89.7k shares