Forge First Asset Management Inc.
In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 8, 2024), Forge First Asset Management Inc. reported 34 stock positions worth $182.6 million. Its top holding was Invesco Senior Loan ETF (BKLN) at 21.3% of the portfolio, followed by Canadian Pacific Kansas City (CP, 9.8%) and Global Payments (GPN, 5.8%). Compared with Q2 2024, it opened 14 new positions, sold out of 17, added to 8 and reduced 10. The biggest buy was Invesco Senior Loan ETF (BKLN, shares +1%) and the biggest sale an exit from Cenovus Energy (CVE).
- Most Recent 13F
- Q3 2025
- Location
- TORONTO, ONTARIO, Z4
- CIK
- 0001963062
- Portfolio Value
- $182.6M (Q3 2024)
- SEC Filing
- 0001214659-24-018584 ↗ filed Nov 8, 2024
Holdings Value
Holdings 34 stocks · $182.6M
| BKLN Invesco Senior Loan ETF | 21.32% | 1,854,100 | $38.9M | Add +0.6% |
| CP Canadian Pacific Kansas City | 9.77% | 208,300 | $17.8M | Add +0.8% |
| GPN Global Payments Inc. | 5.85% | 104,278 | $10.7M | Add +53.1% |
| AVGO Broadcom Inc. | 5.61% | 59,363 | $10.2M | Add +105.9% |
| TSM Taiwan Semiconductor-SP ADR | 5.56% | 58,470 | $10.2M | Add +79.1% |
| AAPL Apple Inc. | 4.62% | 36,200 | $8.4M | Reduce -37.3% |
| META Meta Platforms Inc. Class A | 4.61% | 14,700 | $8.4M | New |
| BBU Brookfield Business PT-Unit | 4.59% | 359,464 | $8.4M | Reduce -25.5% |
| BLD Topbuild Corp. | 3.56% | 15,970 | $6.5M | Reduce -64.5% |
| HLMN Hillman Solutions Corp. | 2.99% | 517,248 | $5.5M | New |
| MYRG MYR Group Inc./Delaware | 2.63% | 46,979 | $4.8M | Add +35.6% |
| GOOG Alphabet Inc. Class C | 2.56% | 28,010 | $4.7M | Add +185.8% |
| CHKP Check Point Software Tech | 2.45% | 23,204 | $4.5M | New |
| BIP Brookfield Infrastructure Pa | 2.26% | 117,298 | $4.1M | Reduce -50.6% |
| FISV Fiserv Inc. | 2.18% | 22,200 | $4.0M | No change |
| MA Mastercard Inc. Class A | 1.97% | 7,300 | $3.6M | Reduce -45.7% |
| MSFT Microsoft Corp. | 1.88% | 7,975 | $3.4M | Reduce -12.1% |
| AMZN Amazon.com Inc. | 1.84% | 18,000 | $3.4M | Reduce -65.7% |
| AGI Alamos Gold Inc. Class A | 1.83% | 167,600 | $3.3M | New |
| V Visa Inc. Class A | 1.82% | 12,100 | $3.3M | Reduce -41.8% |
| CWST Casella Waste Systems Inc. Class A | 1.63% | 30,000 | $3.0M | New |
| AAOI Applied Optoelectronics Inc. | 1.53% | 195,730 | $2.8M | New |
| GFL GFL Environmental Inc.-Sub VT | 1.48% | 67,775 | $2.7M | Add +79.4% |
| VEEV Veeva Systems Inc. Class A | 1.21% | 10,498 | $2.2M | New |
| TTD Trade Desk Inc./the Class A filed as THE TRADE DESK INC | 0.84% | 14,000 | $1.5M | New |
| STATE STR SPDR S&P 500 ETF T | 0.67% | 3,000 | $1.2M | Reduce -45.5% |
| MU Micron Technology Inc. | 0.64% | 11,300 | $1.2M | New |
| ORCL Oracle Corp. | 0.61% | 6,500 | $1.1M | New |
| GIL Gildan Activewear Inc. | 0.58% | 22,400 | $1.1M | New |
| IESC Ies Holdings Inc. filed as IES HLDGS INC | 0.49% | 4,496 | $897K | Reduce -83.3% |
| XBI SS SPDR S&P Biotech ETF | 0.16% | 3,000 | $296K | New |
| NVDA Nvidia Corp. | 0.16% | 2,410 | $293K | No change |
| AG First Majestic Silver Corp. | 0.04% | 12,000 | $72K | New |
| FSM Fortuna Mining Corp. | 0.04% | 15,000 | $70K | New |
Portfolio Sells Q2 2024 → Q3 2024
| CVE Cenovus Energy Inc. | Sold out | 0.00% | −4.57 |
| PHM Pultegroup Inc. | Sold out | 0.00% | −3.88 |
| BLD Topbuild Corp. | Reduce -64.5% | 3.56% | −3.82 |
| CBOE Cboe Global Markets Inc. | Sold out | 0.00% | −3.74 |
| AGX Argan Inc. | Sold out | 0.00% | −3.04 |
| RCI Rogers Communications Inc. Class B | Sold out | 0.00% | −2.66 |
| ATKR Atkore Inc. | Sold out | 0.00% | −2.49 |
| AMZN Amazon.com Inc. | Reduce -65.7% | 1.84% | −2.47 |
| HBM Hudbay Minerals Inc. | Sold out | 0.00% | −2.19 |
| IBP Installed Building Products | Sold out | 0.00% | −1.59 |
| PANW Palo Alto Networks Inc. | Sold out | 0.00% | −1.30 |
| BLDR Builders Firstsource Inc. | Sold out | 0.00% | −1.17 |
| DFS Discover Financial Services | Sold out | 0.00% | −1.17 |
| IESC Ies Holdings Inc. | Reduce -83.3% | 0.49% | −1.11 |
| GRP.U Granite Real Estate Investme | Sold out | 0.00% | −1.10 |
| STATE STR SPDR S&P 500 ETF T | Reduce -45.5% | 0.67% | −1.05 |
| HPE Hewlett Packard Enterprise | Sold out | 0.00% | −0.89 |
| EWW iShares MSCI Mexico ETF | Sold out | 0.00% | −0.85 |
| MA Mastercard Inc. Class A | Reduce -45.7% | 1.97% | −0.54 |
| AAPL Apple Inc. | Reduce -37.3% | 4.62% | −0.54 |
| BIP Brookfield Infrastructure Pa | Reduce -50.6% | 2.26% | −0.51 |
| V Visa Inc. Class A | Reduce -41.8% | 1.82% | −0.49 |
| QCOM Qualcomm Inc. | Sold out | 0.00% | −0.30 |
| CANADIAN IMPERIAL BANK OF CO | Sold out | 0.00% | −0.15 |
| TORONTO DOMINION BK ONT | Sold out | 0.00% | −0.12 |
| MSFT Microsoft Corp. | Reduce -12.1% | 1.88% | +0.16 |
| BBU Brookfield Business PT-Unit | Reduce -25.5% | 4.59% | +0.74 |
Portfolio Buys Q2 2024 → Q3 2024
| BKLN Invesco Senior Loan ETF | Add +0.6% | 21.32% | +4.86 |
| META Meta Platforms Inc. Class A | New | 4.61% | +4.61 |
| AVGO Broadcom Inc. | Add +105.9% | 5.61% | +3.64 |
| TSM Taiwan Semiconductor-SP ADR | Add +79.1% | 5.56% | +3.15 |
| GPN Global Payments Inc. | Add +53.1% | 5.85% | +3.05 |
| HLMN Hillman Solutions Corp. | New | 2.99% | +2.99 |
| CP Canadian Pacific Kansas City | Add +0.8% | 9.77% | +2.87 |
| CHKP Check Point Software Tech | New | 2.45% | +2.45 |
| AGI Alamos Gold Inc. Class A | New | 1.83% | +1.83 |
| GOOG Alphabet Inc. Class C | Add +185.8% | 2.56% | +1.80 |
| CWST Casella Waste Systems Inc. Class A | New | 1.63% | +1.63 |
| AAOI Applied Optoelectronics Inc. | New | 1.53% | +1.53 |
| VEEV Veeva Systems Inc. Class A | New | 1.21% | +1.21 |
| GFL GFL Environmental Inc.-Sub VT | Add +79.4% | 1.48% | +0.86 |
| TTD Trade Desk Inc./the Class A | New | 0.84% | +0.84 |
| MU Micron Technology Inc. | New | 0.64% | +0.64 |
| MYRG MYR Group Inc./Delaware | Add +35.6% | 2.63% | +0.63 |
| ORCL Oracle Corp. | New | 0.61% | +0.61 |
| GIL Gildan Activewear Inc. | New | 0.58% | +0.58 |
| XBI SS SPDR S&P Biotech ETF | New | 0.16% | +0.16 |
| AG First Majestic Silver Corp. | New | 0.04% | +0.04 |
| FSM Fortuna Mining Corp. | New | 0.04% | +0.04 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q3 2025 | 37 | $214.8M | GFL, BKLN, CWST, GIL, HPE |
| Q2 2025 | 36 | $276.5M | CP, GIL, BKLN, TSM, JPM |
| Q1 2025 | 31 | $229.7M | CNI, CP, BKLN, GFL, GIL |
| Q4 2024 | 39 | $278.5M | BKLN, IJH, CP, CNI, TSM |
| Q3 2024 | 34 | $182.6M | BKLN, CP, GPN, AVGO, TSM |
| Q2 2024 | 37 | $235.5M | BKLN, BLD, CP, AAPL, CVE |
| Q1 2024 | 50 | $318.5M | BKLN, GFL, HES, BLD, DFS |