Bastion Asset Management Inc.
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 7, 2025), Bastion Asset Management Inc. reported 48 stock positions worth $173.7 million. Its top holding was Angiodynamics (ANGO) at 7.7% of the portfolio, followed by PayPal (PYPL, 6.7%) and Gxo Logistics (GXO, 6.0%). Compared with Q2 2025, it opened 31 new positions, sold out of 37, added to 9 and reduced 8. The biggest buy was Gxo Logistics (GXO, shares +145%) and the biggest sale an exit from Monro (MNRO).
- Most Recent 13F
- Q2 2026
- Location
- Montreal, Z4
- CIK
- 0001977794
- Portfolio Value
- $173.7M (Q3 2025)
- SEC Filing
- 0001977794-25-000019 ↗ filed Nov 7, 2025
Holdings Value
Holdings 48 stocks · $173.7M
| ANGO Angiodynamics Inc. | 7.74% | 1,264,003 | $13.4M | Add +31.8% |
| PYPL PayPal Holdings Inc. | 6.71% | 170,759 | $11.7M | Reduce -27.7% |
| GXO Gxo Logistics Inc. | 6.03% | 202,524 | $10.5M | Add +145.3% |
| IAG Iamgold Corp. | 4.84% | 730,666 | $8.4M | Reduce -51.1% |
| KD Kyndryl Holdings Inc. | 4.22% | 235,941 | $7.3M | New |
| VVX V2X Inc. | 3.92% | 119,390 | $6.8M | New |
| EXP Eagle Materials Inc. | 3.71% | 27,649 | $6.4M | Add +62.6% |
| RNG Ringcentral Inc. Class A | 3.68% | 225,508 | $6.4M | Add +0.4% |
| VTRS Viatris Inc. | 3.61% | 630,631 | $6.3M | Add +14.1% |
| APEI American Public Education | 3.05% | 152,945 | $5.3M | Reduce -51.1% |
| TMDX Transmedics Group Inc. | 2.95% | 44,887 | $5.1M | New |
| VPG Vishay Precision Group | 2.82% | 155,798 | $4.9M | New |
| AIOT Powerfleet Inc. | 2.75% | 960,101 | $4.8M | New |
| COO The Cooper Cos Inc. | 2.70% | 69,395 | $4.7M | Reduce -43.8% |
| GT Goodyear Tire & Rubber Co. | 2.68% | 557,528 | $4.7M | Add +9.5% |
| MOS The Mosaic Co. | 2.64% | 135,157 | $4.6M | New |
| AHCO Adapthealth Corp. | 2.42% | 451,159 | $4.2M | New |
| OXM Oxford Industries Inc. | 2.42% | 98,922 | $4.2M | New |
| ARCB Arcbest Corp. | 2.18% | 54,324 | $3.8M | New |
| FLR Fluor Corp. | 2.07% | 84,361 | $3.6M | New |
| ANGI Angi Inc. | 2.06% | 210,197 | $3.6M | Add +243.7% |
| MCS Marcus Corporation | 1.95% | 220,173 | $3.4M | New |
| PACK Ranpak Holdings Corp. | 1.84% | 578,949 | $3.2M | New |
| WLY Wiley (john) & Sons Class A | 1.67% | 71,857 | $2.9M | Reduce -26.3% |
| ZD Ziff Davis Inc. | 1.39% | 63,950 | $2.4M | Add +92.2% |
| PFE Pfizer Inc. | 1.37% | 94,371 | $2.4M | New |
| THRM Gentherm Inc. | 1.33% | 69,619 | $2.3M | Reduce -61.6% |
| ICFI Icf International Inc. | 1.32% | 23,885 | $2.3M | New |
| SOLV Solventum Corp. | 1.26% | 30,010 | $2.2M | New |
| UA Under Armour Inc. Class C | 1.12% | 403,105 | $1.9M | New |
| AZ A2Z CUST2MATE Solutions Corp. | 1.12% | 237,383 | $1.9M | New |
| ATS Ats Corp. | 1.10% | 72,655 | $1.9M | New |
| VIRC Virco MFG Corporation | 0.98% | 187,167 | $1.7M | Reduce -35.7% |
| ACVA Acv Auctions Inc. Class A | 0.91% | 158,292 | $1.6M | New |
| NEXN Nexxen International Ltd. | 0.82% | 148,559 | $1.4M | New |
| MAN Manpowergroup Inc. | 0.81% | 36,955 | $1.4M | New |
| OUST Ouster Inc. | 0.80% | 50,647 | $1.4M | New |
| STRA Strategic Education Inc. | 0.68% | 13,981 | $1.2M | New |
| HIVE Hive Digital Technologies LT | 0.68% | 299,974 | $1.2M | New |
| EEFT Euronet Worldwide Inc. | 0.54% | 10,550 | $932K | New |
| DDD 3D Systems Corp. filed as 3-D SYS CORP DEL | 0.52% | 344,403 | $904K | New |
| DAC Danaos Corp. | 0.51% | 10,070 | $893K | Reduce -73.2% |
| OFIX Orthofix Medical Inc. | 0.47% | 57,111 | $822K | Add +81.9% |
| GDYN Grid Dynamics Holdings Inc. | 0.47% | 106,274 | $816K | New |
| ASTH Astrana Health Inc. | 0.35% | 21,358 | $604K | New |
| AEC Anfield Energy Inc. | 0.34% | 59,116 | $588K | New |
| BW Babcock & Wilcox Enterpr | 0.26% | 150,576 | $450K | New |
| OSISKO DEVELOPMENT CORP | 0.16% | 200,000 | $286K | New |
Portfolio Sells Q2 2025 → Q3 2025
| MNRO Monro Inc. | Sold out | 0.00% | −3.42 |
| KWR Quaker Chemical Corporation | Sold out | 0.00% | −3.07 |
| NX Quanex Building Products | Sold out | 0.00% | −2.85 |
| FNB FNB Corp. | Sold out | 0.00% | −2.79 |
| PSN Parsons Corp. | Sold out | 0.00% | −2.69 |
| EXK Endeavour Silver Corp. | Sold out | 0.00% | −2.63 |
| IP International Paper Co. | Sold out | 0.00% | −2.50 |
| ADBE Adobe Inc. | Sold out | 0.00% | −2.38 |
| XRAY Dentsply Sirona Inc. | Sold out | 0.00% | −2.26 |
| PVH PVH Corp. | Sold out | 0.00% | −2.05 |
| ACIC American Coastal Insurance C | Sold out | 0.00% | −2.03 |
| CENX Century Aluminum Company | Sold out | 0.00% | −1.99 |
| CFG Citizens Financial Group | Sold out | 0.00% | −1.96 |
| JAKK Jakks Pacific Inc. | Sold out | 0.00% | −1.52 |
| HTLD Heartland Express Inc. | Sold out | 0.00% | −1.46 |
| COO The Cooper Cos Inc. | Reduce -43.8% | 2.70% | −1.42 |
| PYPL PayPal Holdings Inc. | Reduce -27.7% | 6.71% | −1.41 |
| KALU Kaiser Aluminum Corp. | Sold out | 0.00% | −1.40 |
| BEN Franklin Templeton Inc. | Sold out | 0.00% | −1.33 |
| EZPW Ezcorp Inc. Class A | Sold out | 0.00% | −1.26 |
| CERT Certara Inc. | Sold out | 0.00% | −1.20 |
| HLMN Hillman Solutions Corp. | Sold out | 0.00% | −1.19 |
| ZETA Zeta Global Holdings Corp. Class A | Sold out | 0.00% | −1.11 |
| FOA Finance of America Cos Inc. Class A | Sold out | 0.00% | −1.08 |
| THRM Gentherm Inc. | Reduce -61.6% | 1.33% | −1.03 |
| AVNW Aviat Networks Inc. | Sold out | 0.00% | −1.01 |
| OSK Oshkosh Corp. | Sold out | 0.00% | −1.00 |
| LEG Leggett & Platt Inc. | Sold out | 0.00% | −1.00 |
| DAC Danaos Corp. | Reduce -73.2% | 0.51% | −0.99 |
| WCC Wesco International Inc. | Sold out | 0.00% | −0.99 |
| VZLA Vizsla Silver Corp. | Sold out | 0.00% | −0.93 |
| APTV Aptiv PLC | Sold out | 0.00% | −0.88 |
| AMG Affiliated Managers Group | Sold out | 0.00% | −0.86 |
| APEI American Public Education | Reduce -51.1% | 3.05% | −0.83 |
| PTLO Portillo's Inc. Class A | Sold out | 0.00% | −0.78 |
| PAL Proficient Auto Logistics Inc. | Sold out | 0.00% | −0.76 |
| NEO Neogenomics Inc. | Sold out | 0.00% | −0.66 |
| HY Hyster-Yale Inc. | Sold out | 0.00% | −0.48 |
| ORN Orion Group Holdings Inc. | Sold out | 0.00% | −0.41 |
| DOCN Digitalocean Holdings Inc. | Sold out | 0.00% | −0.41 |
| VIRC Virco MFG Corporation | Reduce -35.7% | 0.98% | −0.37 |
| WLY Wiley (john) & Sons Class A | Reduce -26.3% | 1.67% | −0.32 |
| CRON Cronos Group Inc. | Sold out | 0.00% | −0.29 |
| GRSD Grandstand Ltd. | Sold out | 0.00% | −0.27 |
| IAG Iamgold Corp. | Reduce -51.1% | 4.84% | −0.18 |
Portfolio Buys Q2 2025 → Q3 2025
| GXO Gxo Logistics Inc. | Add +145.3% | 6.03% | +4.23 |
| KD Kyndryl Holdings Inc. | New | 4.22% | +4.22 |
| VVX V2X Inc. | New | 3.92% | +3.92 |
| ANGO Angiodynamics Inc. | Add +31.8% | 7.74% | +3.14 |
| TMDX Transmedics Group Inc. | New | 2.95% | +2.95 |
| VPG Vishay Precision Group | New | 2.82% | +2.82 |
| AIOT Powerfleet Inc. | New | 2.75% | +2.75 |
| MOS The Mosaic Co. | New | 2.64% | +2.64 |
| AHCO Adapthealth Corp. | New | 2.42% | +2.42 |
| OXM Oxford Industries Inc. | New | 2.42% | +2.42 |
| ARCB Arcbest Corp. | New | 2.18% | +2.18 |
| EXP Eagle Materials Inc. | Add +62.6% | 3.71% | +2.09 |
| FLR Fluor Corp. | New | 2.07% | +2.07 |
| MCS Marcus Corporation | New | 1.95% | +1.95 |
| PACK Ranpak Holdings Corp. | New | 1.84% | +1.84 |
| ANGI Angi Inc. | Add +243.7% | 2.06% | +1.63 |
| PFE Pfizer Inc. | New | 1.37% | +1.37 |
| ICFI Icf International Inc. | New | 1.32% | +1.32 |
| VTRS Viatris Inc. | Add +14.1% | 3.61% | +1.30 |
| SOLV Solventum Corp. | New | 1.26% | +1.26 |
| UA Under Armour Inc. Class C | New | 1.12% | +1.12 |
| AZ A2Z CUST2MATE Solutions Corp. | New | 1.12% | +1.12 |
| ATS Ats Corp. | New | 1.10% | +1.10 |
| ACVA Acv Auctions Inc. Class A | New | 0.91% | +0.91 |
| ZD Ziff Davis Inc. | Add +92.2% | 1.39% | +0.91 |
| NEXN Nexxen International Ltd. | New | 0.82% | +0.82 |
| RNG Ringcentral Inc. Class A | Add +0.4% | 3.68% | +0.82 |
| MAN Manpowergroup Inc. | New | 0.81% | +0.81 |
| OUST Ouster Inc. | New | 0.80% | +0.80 |
| HIVE Hive Digital Technologies LT | New | 0.68% | +0.68 |
| STRA Strategic Education Inc. | New | 0.68% | +0.68 |
| EEFT Euronet Worldwide Inc. | New | 0.54% | +0.54 |
| DDD 3D Systems Corp. | New | 0.52% | +0.52 |
| GDYN Grid Dynamics Holdings Inc. | New | 0.47% | +0.47 |
| ASTH Astrana Health Inc. | New | 0.35% | +0.35 |
| AEC Anfield Energy Inc. | New | 0.34% | +0.34 |
| OFIX Orthofix Medical Inc. | Add +81.9% | 0.47% | +0.31 |
| BW Babcock & Wilcox Enterpr | New | 0.26% | +0.26 |
| GT Goodyear Tire & Rubber Co. | Add +9.5% | 2.68% | +0.21 |
| OSISKO DEVELOPMENT CORP | New | 0.16% | +0.16 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 54 | $294.8M | HPE, VTRS, RNG, IAG, JBTM |
| Q1 2026 | 65 | $328.0M | VTRS, GPC, ANGO, RRX, VPG |
| Q4 2025 | 35 | $181.1M | VTRS, ANGO, NOA, KD, AIOT |
| Q3 2025 | 48 | $173.7M | ANGO, PYPL, GXO, IAG, KD |
| Q2 2025 | 54 | $213.5M | PYPL, IAG, ANGO, COO, APEI |
| Q1 2025 | 53 | $185.7M | APEI, FARO, RNG, ANGO, CGAU |
| Q4 2024 | 46 | $150.8M | VTRS, KD, APEI, WCC, JAKK |