NewGen Asset Management Ltd

Name: NewGen Asset Management Ltd 13F holdings, Q4 2024
Creator: NewGen Asset Management Ltd
Published: 2025-02-14

Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q3 2024Q2 2024Q1 2024

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), NewGen Asset Management Ltd reported 26 stock positions worth $94.2 million. Its top holding was Blackberry (BB) at 15.2% of the portfolio, followed by Lightspeed Commerce (LSPD, 13.6%) and Enerflex (EFXT, 7.1%). Compared with Q3 2024, it opened 13 new positions, sold out of 13, added to 6 and reduced 4. The biggest buy was a new position in Blackberry (BB) and the biggest sale Coeur Mining (CDE, shares −90%).

Most Recent 13F: Q2 2026
Location: TORONTO, A6
CIK: 0001845012
Portfolio Value: $94.2M (Q4 2024)
SEC Filing: 0001845012-25-000001 ↗ filed Feb 14, 2025

Holdings Value

Holdings 26 stocks · $94.2M


BB Blackberry Ltd.	15.15%	3,778,360	$14.3M	New
LSPD Lightspeed Commerce Inc.	13.58%	840,000	$12.8M	Add +14.3%
EFXT Enerflex Ltd.	7.07%	670,355	$6.7M	Reduce -52.0%
ASTL Algoma Steel Group Inc.	6.01%	578,900	$5.7M	Add +9.4%
DNN Denison Mines Corp.	5.77%	3,000,000	$5.4M	New
MEOH Methanex Corp.	5.56%	105,000	$5.2M	No change
ENB Enbridge Inc.	5.17%	115,000	$4.9M	No change
CDE Coeur Mining Inc.	4.86%	800,000	$4.6M	Reduce -89.6%
PRMB Primo Brands Corp.	4.08%	125,000	$3.8M	New
SPIR Spire Global Inc.	3.97%	266,195	$3.7M	Reduce -59.0%
SILV Silvercrest Metals Inc.	3.45%	356,900	$3.3M	Add +5.0%
AAPL Apple Inc.	3.32%	12,500	$3.1M	New
RDNT Radnet Inc.	3.20%	43,200	$3.0M	Add +48.6%
PBA Pembina Pipeline Corp.	3.09%	78,900	$2.9M	No change
BITDEER TECHNOLOGIES GRP (BTDR 8.5 08/15/29)	2.59%	892,000	$2.4M	Reduce -47.5%
BBU Brookfield Business PT-Unit	2.50%	100,000	$2.4M	New
USAS Americas Gold and Silver Cor	2.34%	5,771,212	$2.2M	New
SKE Skeena Resources Ltd.	2.03%	220,000	$1.9M	Add +10.0%
SLSR Solaris Resources Inc.	1.97%	600,000	$1.9M	New
CHEGG INC (CHGG 0.125 03/15/25)	1.56%	1,499,000	$1.5M	Add +49.9%
IAUX I-80 Gold Corp.	1.50%	2,950,000	$1.4M	New
CHEGG INC (CHGG 0 09/01/26)	0.66%	757,000	$621K	New
ANNA Aleanna Inc.	0.20%	28,283	$192K	New
LW Lamb Weston Holdings Inc.	0.19%	2,700	$180K	New
SU Suncor Energy Inc.	0.15%	4,000	$143K	New
LEVGQ The Lion Electric Co. filed as THE LION ELECTRIC COMPANY	0.02%	203,000	$16K	New

Options reported separately and not counted above: SLV calls ($7.6M), BCE calls ($4.6M), AAPL puts ($3.1M).

Other holdings (1): bonds, preferreds, convertibles and warrants · $609K (not counted above)

Security	Class	Shares / Principal	Value	Change
GROY.WS Gold Royalty Corp. -29	*W EXP 05/31/202	2,390,045	$609K	New

Total filed on the 13F, all lines: $94.9M.

Portfolio Sells Q3 2024 → Q4 2024


CDE Coeur Mining Inc.	Reduce -89.6%	4.86%	−24.10
BEP Brookfield Renewable Partner	Sold out	0.00%	−7.83
CLS Celestica Inc.	Sold out	0.00%	−7.40
KGC Kinross Gold Corp.	Sold out	0.00%	−6.26
ATS Ats Corp.	Sold out	0.00%	−3.17
CVE Cenovus Energy Inc.	Sold out	0.00%	−2.74
BMO Bank of Montreal	Sold out	0.00%	−2.46
BCE Bce Inc.	Sold out	0.00%	−2.18
TECK Teck Resources Ltd.-CLS B	Sold out	0.00%	−2.14
NOA North American Construction	Sold out	0.00%	−2.13
VRN Veren Inc.	Sold out	0.00%	−1.82
PDS Precision Drilling Corp.	Sold out	0.00%	−1.78
NXE Nexgen Energy Ltd.	Sold out	0.00%	−0.89
GFR Greenfire Resources Ltd.	Sold out	0.00%	−0.53
SPIR Spire Global Inc.	Reduce -59.0%	3.97%	+0.43
BITDEER TECHNOLOGIES GRP (BTDR 8.5 08/15/29)	Reduce -47.5%	2.59%	+1.48
EFXT Enerflex Ltd.	Reduce -52.0%	7.07%	+2.53

Portfolio Buys Q3 2024 → Q4 2024


BB Blackberry Ltd.	New	15.15%	+15.15
LSPD Lightspeed Commerce Inc.	Add +14.3%	13.58%	+6.96
DNN Denison Mines Corp.	New	5.77%	+5.77
PRMB Primo Brands Corp.	New	4.08%	+4.08
AAPL Apple Inc.	New	3.32%	+3.32
ASTL Algoma Steel Group Inc.	Add +9.4%	6.01%	+3.05
BBU Brookfield Business PT-Unit	New	2.50%	+2.50
USAS Americas Gold and Silver Cor	New	2.34%	+2.34
RDNT Radnet Inc.	Add +48.6%	3.20%	+2.10
SLSR Solaris Resources Inc.	New	1.97%	+1.97
SILV Silvercrest Metals Inc.	Add +5.0%	3.45%	+1.73
IAUX I-80 Gold Corp.	New	1.50%	+1.50
SKE Skeena Resources Ltd.	Add +10.0%	2.03%	+1.10
CHEGG INC (CHGG 0.125 03/15/25)	Add +49.9%	1.56%	+1.04
CHEGG INC (CHGG 0 09/01/26)	New	0.66%	+0.66
ANNA Aleanna Inc.	New	0.20%	+0.20
LW Lamb Weston Holdings Inc.	New	0.19%	+0.19
SU Suncor Energy Inc.	New	0.15%	+0.15
LEVGQ The Lion Electric Co.	New	0.02%	+0.02

Options Activity Q3 2024 → Q4 2024


SLV iShares Silver Trust	call	Add +33.3%	200,000	$7.6M
SU Suncor Energy Inc.	call	Sold out	170,000	$6.3Mbefore exit
AAPL Apple Inc.	put	New	12,500	$3.1M

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

Notes & Other Activity Q3 2024 → Q4 2024


GROY.WS Gold Royalty Corp. -29	*W EXP 05/31/202	New	2,390,045	$609K

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

Quarter	Positions	13F Reported Value	Top Holdings
Q2 2026	29	$182.2M	MDA, HSLV, USAS, EFXT, GIL
Q1 2026	26	$164.5M	HSLV, USAS, MDA, EFXT, CDE
Q4 2025	21	$141.8M	USAS, CDE, EFXT, CCJ, BB
Q3 2025	21	$149.4M	USAS, B, BB, CCJ, SLSR
Q2 2025Amended	23	$152.9M	USAS, CCJ, CLS, BB, SAND
Q1 2025	25	$102.8M	USAS, IAG, CDE, PRMB, BB
Q4 2024	26	$94.2M	BB, LSPD, EFXT, ASTL, DNN
Q3 2024	26	$183.3M	CDE, BEP, CLS, LSPD, KGC
Q2 2024	25	$163.3M	CDE, HUBS, LSPD, TECK, CLS
Q1 2024	27	$186.2M	CDE, BEPC, FNV, TECK, CLS