§ 13F · FUND PROFILE
Fiera Capital Corp.
Canadian multi-strategy asset management
AUM · $27.6B (13F)Positions · 632Turnover · 55% · Q1Filed · Aug 7, 2026
CONCENTRATION
27%
Top 10 holdings
NEW BUYS
+41
+$324M deployed
EXITS
0
No exits
SECTOR SHIFT
TECHNOLOGY → OTHER
-4pp · +3pp
§ 01 · TOP HOLDINGS
The book · Q1 2026
FILED AUG 7, 2026
| # | Ticker | Name | Shares | $ value | % port | Δ Q1 |
|---|---|---|---|---|---|---|
| 1 | TSM | TAIWAN SEMICONDUCTOR MANUFAC | 2.97M | $1.4B | 5.2% | −35% |
| 2 | GOOGL | ALPHABET INC | 3.65M | $1.3B | 4.7% | −20% |
| 3 | RY | ROYAL BK CDA | 3.87M | $801M | 2.9% | −8% |
| 4 | MSFT | MICROSOFT CORP | 2.11M | $787M | 2.9% | −20% |
| 5 | MCO | MOODYS CORP | 1.72M | $778M | 2.8% | −11% |
| 6 | MA | MASTERCARD INCORPORATED | 1.40M | $718M | 2.6% | −9% |
| 7 | CNI | CANADIAN NATL RY CO | 5.08M | $606M | 2.2% | −13% |
| 8 | AZO | AUTOZONE INC | 182K | $581M | 2.1% | −15% |
| 9 | BMO | BANK MONTREAL MEDIUM | 3.21M | $567M | 2.1% | −8% |
| 10 | TJX | TJX COS INC NEW | 3.40M | $515M | 1.9% | −14% |
§ 02 · SECTOR ALLOCATION
Where the money is
Other49.1% (+3pp)
Financial Services14.1% (±0)
Technology9.6% (−4pp)
Retail8.6% (±0)
Semiconductors8.6% (+1pp)
Media5.9% (−1pp)
§ 03 · THE FIERA SIGNAL
AC read
Fiera Capital Corp is a Quality / Compounder fund managing $27.6 billion in assets. The fund runs a broad portfolio of 632 positions, broad diversification across holdings, with the top 10 accounting for 27%. Trading activity is aggressive at 55% quarterly turnover, with 41 new positions and 0 exits last quarter. Top sector allocations: Other (49%), Financial Services (14%), Technology (10%).
Read the full dossier →§ 04 · FILING HISTORY
Q-by-Q deltas
3 OF 2 FILINGS MEASURED
Q1 2026
Busy quarter
+41 buys · −0 exits · 336 changed
Q4 2025
Busy quarter
+35 buys · −0 exits · 346 changed
Q3 2025
Busy quarter
+28 buys · −0 exits · 363 changed