LW
Leith Wheeler Investment Counsel Ltd.'s 13F Portfolio ($1.3B, Q2 2026)
Leith Wheeler Investment Counsel Ltd.CIK: 0001353651
Momentum follower
Total reported value
$1.3B
Reporting period: 2026-06-30 · Number of holdings: 85
Leith Wheeler Investment Counsel Ltd. disclosed 85 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $1.3B and a quarterly turnover rate of 25.2%.
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Personality snowflake
- Concentration
- 47.5
- Portfolio Stability
- 25.17
- Momentum
- 100
- Sector conviction
- 44.87
- Diversification
- 100
- Sizing Uniformity
- 69.66
Leith Wheeler Investment Counsel Ltd.'s disclosed holdings carry a Herfindahl concentration index of 0.119 — mathematically equivalent to about 8 equally-sized positions, well below its 85 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 3.03), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 61% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govSold out QQQM
Add IVV
-0.1% $54.8M
New buy G2004J103
Add MSFT
+89.3% $21.1M
Sold out WYNN
Trim HSIC
-46.2% -$10.2M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | IVV | Ishares Core S&p 500 ETF | ETF-Large Cap & Growth | 32.80% | +1.64% | -0.09% | |
| 2 | MSFT | Microsoft CORP | Stock-Tech | 3.37% | +1.44% | +89.31% | |
| 3 | UNH | Unitedhealth Group Inc | Stock-Healthcare | 3.08% | +0.63% | -10.93% | |
| 4 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 3.01% | +0.36% | -0.55% | |
| 5 | V | Visa Inc-class A Shares | Stock-Financials | 2.75% | +0.12% | +0.26% | |
| 6 | BWA | Borgwarner Inc | Stock-Consumer Disc | 2.68% | +0.47% | +7.79% | |
| 7 | WFC | Wells Fargo & Co | Stock-Financials | 2.57% | -0.12% | +0.14% | |
| 8 | LHX | L3harris Technologies Inc | Stock-Industrials | 2.37% | -0.69% | -0.21% | |
| 9 | DIS | Walt Disney Co/the | Stock-Comm Services | 2.33% | -0.21% | -0.21% | |
| 10 | MDT | Medtronic plc | Stock-Healthcare | 1.97% | -0.35% | +2.30% | |
| 11 | META | Meta Platforms Inc-class A | Stock-Comm Services | 1.96% | +0.27% | +28.35% | |
| 12 | BDX | Becton Dickinson And Co | Stock-Healthcare | 1.80% | -0.26% | -0.86% | |
| 13 | CRM | Salesforce Inc | Stock-Tech | 1.70% | -0.50% | +0.22% | |
| 14 | ADSK | Autodesk Inc | Stock-Tech | 1.60% | -0.57% | -0.97% | |
| 15 | ✓ | Carnival CORP LTD F | Stock-Other | 1.59% | +1.59% | NEW | |
| 16 | JPM | Jpmorgan Chase & Co | Stock-Financials | 1.58% | +0.02% | -0.86% | |
| 17 | IFF | Intl Flavors & Fragrances | Stock-Materials | 1.54% | -0.01% | -1.10% | |
| 18 | QCOM | Qualcomm Inc | Stock-Tech | 1.25% | -0.11% | -30.36% | |
| 19 | HSIC | Henry Schein Inc | Stock-Healthcare | 1.21% | -0.95% | -46.17% | |
| 20 | SEIC | Sei Investments Company | Stock-Financials | 1.16% | -0.11% | -11.08% | |
| 21 | KEYS | Keysight Technologies In | Stock-Tech | 1.15% | +0.13% | -0.89% | |
| 22 | CPAY | Corpay Inc | Stock-Tech | 1.12% | -0.03% | -7.29% | |
| 23 | GMED | Globus Medical Inc - A | Stock-Healthcare | 1.05% | -0.09% | +9.65% | |
| 24 | NKE | Nike Inc -cl B | Stock-Consumer Disc | 1.02% | -0.40% | +0.47% | |
| 25 | ICLR | ICON Public Limited Company | Stock-Healthcare | 1.00% | +0.26% | -6.90% | |
| 26 | FA | First Advantage CORP | Stock-Other | 0.99% | +0.28% | -0.88% | |
| 27 | LPX | Louisiana-pacific CORP | Stock-Industrials | 0.98% | +0.38% | +66.28% | |
| 28 | BIP | Brookfield Infrastructure Partners L.P. | Stock-Utilities | 0.96% | -0.08% | -0.88% | |
| 29 | EFAX | State Street Spdr Msci Eafe | ETF-Other | 0.93% | +0.93% | NEW | |
| 30 | COR | Cencora Inc | Stock-Healthcare | 0.86% | -0.18% | -1.05% | |
| 31 | ORI | Old Republic Intl CORP | Stock-Financials | 0.86% | -0.06% | -0.88% | |
| 32 | MIDD | Middleby CORP | Stock-Industrials | 0.84% | +0.13% | -0.89% | |
| 33 | LAMR | Lamar Advertising Co-a | Stock-Real Estate | 0.83% | +0.09% | -0.89% | |
| 34 | CCK | Crown Holdings Inc | Stock-Consumer Disc | 0.81% | +0.01% | -0.88% | |
| 35 | SNA | Snap-on Inc | Stock-Industrials | 0.81% | +0.01% | -0.89% | |
| 36 | AWR | American States Water Co | Stock-Utilities | 0.79% | — | -0.88% | |
| 37 | HAYW | Hayward Holdings Inc | Stock-Other | 0.74% | +0.11% | -0.89% | |
| 38 | THC | Tenet Healthcare CORP | Stock-Healthcare | 0.73% | -0.08% | -1.19% | |
| 39 | GL | Globe Life Inc | Stock-Financials | 0.73% | +0.11% | -0.87% | |
| 40 | MKSI | Mks Inc | Stock-Tech | 0.72% | +0.01% | -42.71% | |
| 41 | VSGX | Vanguard Esg Intl Stock ETF | ETF-Other | 0.69% | +0.69% | NEW | |
| 42 | CSL | Carlisle Cos Inc | Stock-Industrials | 0.69% | — | -0.88% | |
| 43 | GNTX | Gentex CORP | Stock-Consumer Disc | 0.66% | +0.03% | -0.88% | |
| 44 | MDLZ | Mondelez International Inc-a | Stock-Consumer Staples | 0.65% | -0.33% | -27.91% | |
| 45 | HLI | Houlihan Lokey Inc | Stock-Financials | 0.63% | +0.63% | NEW | |
| 46 | CNM | Core & Main Inc-class A | Stock-Industrials | 0.61% | -0.08% | -0.88% | |
| 47 | WAT | Waters CORP | Stock-Healthcare | 0.60% | +0.07% | -0.90% | |
| 48 | RRC | Range Resources CORP | Stock-Energy | 0.57% | -0.12% | +7.82% | |
| 49 | WH | Wyndham Hotels & Resorts Inc | Stock-Consumer Disc | 0.56% | -0.03% | -0.88% | |
| 50 | HLMN | Hillman Solutions CORP | Stock-Other | 0.55% | -0.04% | -0.88% |
1–50 of 85
Portfolio Performance
Performance for Q3 2026
+4.4%
Performance Last 4 Quarters
+16.8%
- Stdev
- +13.2%
- Beta
- +0.95
- Alpha
- -2.7%
- Max Drawdown
- -9.3%
- Annualized Perf
- +16.7%
- Batting Avg vs S&P
- +41.7%
- Sortino
- +2.24
- Stutzer
- +0.36
- Treynor
- +0.17
- Sterling
- +0.98
- Calmar
- +1.79
- Information Ratio
- -0.76
- Tracking Error
- +4.8%
- Stdev Down
- +7.3%
- Winning Months %
- +72.2%
- Losing Months %
- +27.8%
- Best 12 Months
- +34.8%
- Worst 12 Months
- +4.2%
- Efficiency Ratio
- +0.49
- Sharpe
- +1.24
- Stdev Sectors
- +7.3%
- Skewness
- -0.23
- Kurtosis
- -0.44
- Upside Potential
- +3.87
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 85 | $1.3B | 25 | ||
| 2026 Q1 | 84 | $1.2B | 24 | ||
| 2025 Q4 | 87 | $1.3B | 26 | ||
| 2025 Q3 | 72 | $1.5B | 36 | ||
| 2025 Q2 | 65 | $1.4B | 0 | ||
| 2025 Q1 | 75 | $1.4B | 100 | ||
| 2024 Q4 | 59 | $1.4B | 0 | ||
| 2024 Q3 | 60 | $1.4B | 0 | ||
| 2024 Q2 | 65 | $1.2B | 0 | ||
| 2024 Q1 | 64 | $1.0B | 0 | ||
| 2023 Q4 | 57 | $913.4M | 0 | ||
| 2023 Q3 | 58 | $756.7M | 0 | ||
| 2023 Q2 | 63 | $764.4M | 0 | ||
| 2023 Q1 | 59 | $680.9M | 0 | ||
| 2022 Q4 | 55 | $665.5M | 0 | ||
| 2022 Q3 | 53 | $596.5M | 0 | ||
| 2022 Q2 | 54 | $757.8M | 0 | ||
| 2022 Q1 | 52 | $669.8M | 0 | ||
| 2021 Q4 | 46 | $707.2M | 0 | ||
| 2021 Q3 | 47 | $670.9M | 0 | ||
| 2021 Q2 | 44 | $656.3M | 100 | ||
| 2021 Q1 | 47 | $607.4M | 22 | ||
| 2020 Q4 | 43 | $713.3M | 49 | ||
| 2020 Q3 | 46 | $478.8M | 18 | ||
| 2020 Q2 | 40 | $410.7M | 29 | ||
| 2020 Q1 | 43 | $329.9M | 29 | ||
| 2019 Q4 | 40 | $400.3M | 17 | ||
| 2019 Q3 | 30 | $341.1M | 7 | ||
| 2019 Q2 | 28 | $331.4M | 8 | ||
| 2019 Q1 | 30 | $323.1M | 20 | ||
| 2018 Q4 | 29 | $268.2M | 25 | ||
| 2018 Q3 | 32 | $337.6M | 16 | ||
| 2018 Q2 | 30 | $291.9M | 100 | ||
| 2018 Q1 | 30 | $103.8M | 74 | ||
| 2017 Q4 | 33 | $57.4M | 100 | ||
| 2017 Q3 | 31 | $239.0M | 7 | ||
| 2017 Q2 | 31 | $222.3M | 39 | ||
| 2017 Q1 | 33 | $150.5M | 43 | ||
| 2016 Q4 | 13 | $156.4M | 11 | ||
| 2016 Q3 | 12 | $150.3M | 5 | ||
| 2016 Q2 | 14 | $145.5M | 12 | ||
| 2016 Q1 | 12 | $133.4M | 8 | ||
| 2015 Q4 | 10 | $128.7M | — |
* This report is exclusively curated by the AlphaSMO team. AlphaSMO is the web's most authoritative 13F / Inside Trader database, delivering precise insider trading and institutional holdings insights.
Holding changes this quarter
Leith Wheeler Investment Counsel Ltd.'s most significant position changes for 2026-06-30: Sold out: Invesco Nasdaq 100 ETF (QQQM); New buy: Carnival CORP LTD F; Sold out: Wynn Resorts LTD (WYNN); New buy: State Street Spdr Msci Eafe (EFAX); Sold out: Spdr Msci Eafa Fossil Fuel.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | IVV | Ishares Core S&p 500 ETF | +1.6% | -0.09% | Trim |
| 2 | ✓ | Carnival CORP LTD F | +1.6% | NEW | New buy |
| 3 | MSFT | Microsoft CORP | +1.4% | +89.31% | Add |
| 4 | EFAX | State Street Spdr Msci Eafe | +0.9% | NEW | New buy |
| 5 | VSGX | Vanguard Esg Intl Stock ETF | +0.7% | NEW | New buy |
| 6 | UNH | Unitedhealth Group Inc | +0.6% | -10.93% | Trim |
| 7 | HLI | Houlihan Lokey Inc | +0.6% | NEW | New buy |
| 8 | BWA | Borgwarner Inc | +0.5% | +7.79% | Add |
| 9 | LPX | Louisiana-pacific CORP | +0.4% | +66.28% | Add |
| 10 | GOOGL | Alphabet Inc-cl A | +0.4% | -0.55% | Trim |
| 11 | ✓ | +0.3% | NEW | New buy | |
| 12 | FA | First Advantage CORP | +0.3% | -0.88% | Trim |
| 13 | META | Meta Platforms Inc-class A | +0.3% | +28.35% | Add |
| 14 | ICLR | ICON Public Limited Company | +0.3% | -6.90% | Trim |
| 15 | RUSHA | Rush Enterprises Inc-cl A | +0.1% | +42.02% | Add |
| 16 | KEYS | Keysight Technologies In | +0.1% | -0.89% | Trim |
| 17 | MIDD | Middleby CORP | +0.1% | -0.89% | Trim |
| 18 | V | Visa Inc-class A Shares | +0.1% | +0.26% | Add |
| 19 | HAYW | Hayward Holdings Inc | +0.1% | -0.89% | Trim |
| 20 | GL | Globe Life Inc | +0.1% | -0.87% | Trim |
| 21 | LAMR | Lamar Advertising Co-a | +0.1% | -0.89% | Trim |
| 22 | WAT | Waters CORP | +0.1% | -0.90% | Trim |
| 23 | ASML | ASML Holding N.V. | +0.1% | +6.67% | Add |
| 24 | GNTX | Gentex CORP | 0% | -0.88% | Trim |
| 25 | EIS | Ishares Msci Israel ETF | 0% | NEW | New buy |
| 26 | JPM | Jpmorgan Chase & Co | 0% | -0.86% | Trim |
| 27 | CCK | Crown Holdings Inc | 0% | -0.88% | Trim |
| 28 | SNA | Snap-on Inc | 0% | -0.89% | Trim |
| 29 | MKSI | Mks Inc | 0% | -42.71% | Trim |
| 30 | AAPL | Apple Inc | 0% | -2.43% | Trim |
| 31 | SPY | Ss Spdr S&p 500 ETF Trust-us | 0% | — | Unchanged |
| 32 | AWR | American States Water Co | — | -0.88% | Trim |
| 33 | CSL | Carlisle Cos Inc | — | -0.88% | Trim |
| 34 | GOOG | Alphabet Inc-cl C | — | -8.34% | Trim |
| 35 | CEFA | Global X S&p Cath Val Devel | — | -0.48% | Trim |
| 36 | AMZN | Amazon.com Inc | — | -4.25% | Trim |
| 37 | JNJ | Johnson & Johnson | — | +1.97% | Add |
| 38 | UL | Unilever Plc-sponsored Adr | — | +3.53% | Add |
| 39 | PG | Procter & Gamble Co/the | — | +3.81% | Add |
| 40 | MA | Mastercard Inc - A | — | +2.05% | Add |
| 41 | OEF | Ishares S&p 100 ETF | — | — | Unchanged |
| 42 | NVS | Novartis Ag-sponsored Adr | — | +20.76% | Add |
| 43 | CL | Colgate-palmolive Co | — | +3.77% | Add |
| 44 | BRK-B | Berkshire Hathaway Inc-cl B | — | +1.08% | Add |
| 45 | VT | Vanguard Tot World Stk ETF | — | — | Unchanged |
| 46 | VPL | Vanguard Ftse Pacific ETF | — | — | Unchanged |
| 47 | AXP | American Express Co | — | -20.00% | Trim |
| 48 | GS | Goldman Sachs Group Inc | — | -10.00% | Trim |
| 49 | IQV | Iqvia Holdings Inc | — | — | Unchanged |
| 50 | SAP | Sap Se-sponsored Adr | — | +6.81% | Add |
1–50 of 90
Filing History
FAQ
What is Leith Wheeler Investment Counsel Ltd. and what type of investor is it?
Leith Wheeler Investment Counsel Ltd. is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $1.3B, spread across 85 disclosed positions.
What are Leith Wheeler Investment Counsel Ltd.'s largest equity positions?
Based on the latest 13F filing, Leith Wheeler Investment Counsel Ltd.'s top holdings by market value are:
1. Ishares Core S&p 500 ETF (IVV) — $431.8M (32.8%)
2. Microsoft CORP (MSFT) — $44.3M (3.4%)
3. Unitedhealth Group Inc (UNH) — $40.5M (3.1%)
4. Alphabet Inc-cl A (GOOGL) — $39.7M (3.0%)
5. Visa Inc-class A Shares (V) — $36.2M (2.8%)
What changes did Leith Wheeler Investment Counsel Ltd. make in its most recent portfolio filing?
In the latest reported quarter, Leith Wheeler Investment Counsel Ltd. made 81 notable position adjustments: 6 new positions were initiated, 23 existing holdings were added to, 47 positions were partially reduced, and 5 were completely exited. The largest of these moves: Sold out: Invesco Nasdaq 100 ETF (QQQM); New buy: Carnival CORP LTD F; Sold out: Wynn Resorts LTD (WYNN); New buy: State Street Spdr Msci Eafe (EFAX); Sold out: Spdr Msci Eafa Fossil Fuel
What sectors does Leith Wheeler Investment Counsel Ltd. focus on?
Leith Wheeler Investment Counsel Ltd. is concentrated in the following sectors based on its current disclosed equity portfolio:
• Health Care: 20.7%
• Information Technology: 19.5%
• Financials: 17.2%
• Communication Services: 12.3%
• Consumer Discretionary: 10.5%
• Industrials: 10.4%
Investment Profile
Leith Wheeler Investment Counsel Ltd. returned an annualized 16.7% over the trailing 36 months — underperforming the S&P 500 by 2.7 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.95 (roughly in line with the market) and a 42% quarterly batting average against the index.
Its portfolio is moderately concentrated and moderately active.
Its turnover score has risen from 0 to 25 over the past 4 quarters — a shift toward more active trading.
It has added to its MSFT position over the past two quarters (+$41.8M, now $44.3M), while trimming CRM over the same stretch (-$14.7M, still holding $22.3M).
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