1832 Asset Management L.P.
Filing Date
Global Rank
#54
/ 8,420
▲ 73
Top Industry
Banks - Diversified
13.8%
3Y Alpha vs SPY
-5.3%
Period ended 6 months ago
Filed Feb 13, 2026 · 4mo
24 quarters · since Mar 2020
Clone Performance
Jun 2023–Jun 2026 · vs SPYHypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.
Cloned portfolio
+54.0%
SPY
+76.3%
Annualised alpha
-5.3%
Max drawdown
−16.2%
Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.
Portfolio Concentration
572 positions · as of Dec 31, 2025 · Δ vs Sep 30, 2025Top Position
4.1%
−0.2 pts
Top 5
16.9%
−0.1 pts
Top 10
27.3%
−0.2 pts
HHI
130
Diversified−4
Portfolio Trend
24 quarters · across all stocks
Sector Breakdown
As of Dec 31, 2025| Sector | % Portfolio | Value |
|---|---|---|
| Financial Services | 25.2% | $18,732,868,726 |
| Technology | 20.7% | $15,400,522,506 |
| Industrials | 13.3% | $9,885,973,857 |
| Consumer Cyclical | 9.0% | $6,661,879,697 |
| Energy | 8.0% | $5,956,358,878 |
| Healthcare | 7.2% | $5,390,804,237 |
| Basic Materials | 5.5% | $4,059,005,596 |
| Communication Services | 5.1% | $3,799,581,933 |
| Real Estate | 2.1% | $1,556,719,218 |
| Consumer Defensive | 2.0% | $1,499,891,585 |
| Utilities | 1.8% | $1,369,210,681 |
| Unclassified | 0.1% | $70,406,953 |
Last Quarter's Activity
Export CSVAdded To
Positions the filer increased
25 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| BN | BROOKFIELD Corp /ON/ | +29,241,215 | 45,546,724 | $2,090,139,164 | |
| CAE | Cae Inc | +20,664,255 | 22,201,969 | $675,383,896 | |
| OTEX | Open Text Corp | +19,948,681 | 23,592,987 | $768,659,516 | |
| TRP | Tc Energy Corp | +10,540,166 | 24,512,522 | $1,348,433,835 | |
| TD | Toronto Dominion Bank | +10,197,588 | 32,289,612 | $3,041,681,450 | |
| PBA | Pembina Pipeline Corp | +10,066,512 | 11,767,638 | $447,876,302 | |
| CNI | Canadian National Railway Co | +9,294,926 | 18,747,746 | $1,853,214,692 | |
| GIL | Gildan Activewear Inc. | +6,652,811 | 6,773,733 | $423,087,363 | |
| SHOP | Shopify Inc. | +4,373,310 | 7,813,418 | $1,257,725,895 | |
| GIB | Cgi Inc | +4,166,219 | 5,352,267 | $494,014,244 | |
| BMO | Bank Of Montreal /Can/ | +4,080,743 | 10,417,243 | $1,352,053,968 | |
| CSCO | Cisco Systems, Inc. | +4,080,440 | 7,773,094 | $598,761,430 | |
| STN | Stantec Inc | +3,897,438 | 3,975,132 | $375,093,455 | |
| IBKR | Interactive Brokers Group, Inc. | +3,632,492 | 5,027,916 | $323,345,277 | |
| TFII | TFI International Inc. | +3,548,947 | 4,618,775 | $477,350,396 | |
| HDB | Hdfc Bank Ltd | +3,517,321 | 5,730,427 | $209,389,802 | |
| RBA | Rb Global Inc. | +3,470,301 | 3,500,777 | $360,124,929 | |
| NFLX | Netflix Inc | +3,459,179 | 3,505,956 | $328,718,434 | |
| TRI | Thomson Reuters Corp /Can/ | +3,454,085 | 5,254,469 | $693,011,916 | |
| MFC | Manulife Financial Corp | +3,209,334 | 28,578,141 | $1,036,814,955 | |
| CPRT | Copart Inc | +3,005,576 | 3,047,193 | $119,297,605 | |
| RKT | Rocket Companies, Inc. | +2,803,983 | 2,817,283 | $54,542,598 | |
| DSGX | Descartes Systems Group Inc | +2,415,075 | 2,594,300 | $227,416,338 | |
| IOT | Samsara Inc. | +2,386,047 | 2,802,707 | $99,355,963 | |
| ABT | Abbott Laboratories | +2,175,205 | 2,373,723 | $297,403,754 | |
| No positions match the current search. | |||||
Trimmed
Positions the filer reduced
25 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| TU | Telus Corp | −5,661,446 | 33,012,974 | $434,780,867 | |
| TECK | Teck Resources Ltd | −4,715,136 | 1,730,380 | $82,867,898 | |
| EXE | EXPAND ENERGY Corp | −3,822,727 | 33,700 | $3,719,132 | |
| EFXT | Enerflex Ltd. | −2,776,700 | 2,734,443 | $42,192,455 | |
| EQT | EQT Corp | −2,770,465 | 106,760 | $5,722,336 | |
| BAC | Bank Of America Corp /De/ | −2,041,426 | 2,915,759 | $160,366,745 | |
| BIPH | Brookfield Infrastructure Partners L.P. | −1,757,703 | 9,184,457 | $319,068,036 | |
| APH | Amphenol Corp /De/ | −1,499,863 | 291,253 | $39,359,930 | |
| DASH | DoorDash, Inc. | −1,298,198 | 81,780 | $18,521,534 | |
| BROS | Dutch Bros Inc. | −1,105,300 | 1,736,900 | $106,333,018 | |
| FE | Firstenergy Corp | −951,110 | 564,200 | $25,259,234 | |
| HOOD | Robinhood Markets, Inc. | −813,200 | 47,200 | $5,338,320 | |
| RF | Regions Financial Corp | −783,108 | 23,045 | $624,519 | |
| VRT | Vertiv Holdings Co | −760,564 | 1,607,549 | $260,439,013 | |
| SU | Suncor Energy Inc | −745,915 | 17,791,677 | $789,238,791 | |
| WELL | Welltower Inc. | −593,580 | 112,407 | $20,863,863 | |
| NVDA | Nvidia Corp | −586,686 | 7,129,801 | $1,329,707,886 | |
| AFRM | Affirm Holdings, Inc. | −555,700 | 1,782,700 | $132,686,361 | |
| SONY | Sony Group Corp | −537,774 | 314,544 | $8,052,326 | |
| ZS | Zscaler, Inc. | −515,116 | 4,002 | $900,129 | |
| PLTR | Palantir Technologies Inc. | −501,044 | 694,378 | $123,425,689 | |
| SE | Sea Ltd | −466,473 | 130,940 | $16,704,015 | |
| UBER | Uber Technologies, Inc | −464,266 | 683,536 | $55,851,726 | |
| AMRZ | Amrize Ltd | −418,687 | 1,401,020 | $75,767,161 | |
| STWD | Starwood Property Trust, Inc. | −400,000 | 478,662 | $8,620,702 | |
| No positions match the current search. | |||||
New Positions
Positions the filer opened this quarter
25 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| BGSI | Boyd Group Services Inc. | 2,369,395 | $377,444,623 | |
| CIEN | Ciena Corp | 789,900 | $184,733,913 | |
| REGN | Regeneron Pharmaceuticals, Inc. | 216,864 | $167,390,815 | |
| GM | General Motors Co | 2,038,235 | $165,749,270 | |
| TOST | Toast, Inc. | 4,064,200 | $144,319,742 | |
| BA | Boeing Co | 607,552 | $131,911,690 | |
| TEVA | Teva Pharmaceutical Industries Ltd | 3,718,454 | $116,052,949 | |
| ALC | Alcon Inc | 1,181,545 | $93,117,561 | |
| PEG | Public Service Enterprise Group Inc | 1,109,980 | $89,131,394 | |
| GWRE | Guidewire Software, Inc. | 432,096 | $86,855,616 | |
| RL | Ralph Lauren Corp | 233,118 | $82,432,855 | |
| RBRK | Rubrik, Inc. | 1,022,300 | $78,185,504 | |
| UL | Unilever PLC | 693,560 | $45,358,824 | |
| ATI | Ati Inc | 294,473 | $33,793,721 | |
| AX | Axos Financial, Inc. | 375,392 | $32,343,774 | |
| CACC | Credit Acceptance Corp | 68,223 | $30,254,171 | |
| SFBS | ServisFirst Bancshares, Inc. | 419,735 | $30,132,775 | |
| LCII | Lci Industries | 234,136 | $28,410,062 | |
| FIVE | Five Below, Inc | 124,312 | $23,415,408 | |
| CARR | CARRIER GLOBAL Corp | 402,177 | $21,251,032 | |
| KNX | Knight-Swift Transportation Holdings Inc. | 367,391 | $19,207,201 | |
| DEO | Diageo PLC | 216,910 | $18,712,825 | |
| NOC | Northrop Grumman Corp /De/ | 28,000 | $15,965,880 | |
| TDG | TransDigm Group INC | 11,200 | $14,894,320 | |
| BCS | Barclays PLC | 535,000 | $13,615,750 | |
| No positions match the current search. | ||||
Sold Out
Positions the filer fully exited
25 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| AXON | Axon Enterprise, Inc. | 281,700 | $202,159,188 | |
| CELH | Celsius Holdings, Inc. | 1,939,600 | $111,507,604 | |
| CMG | Chipotle Mexican Grill Inc | 2,516,200 | $98,609,878 | |
| INSM | INSMED Inc | 584,800 | $84,217,048 | |
| ESLT | Elbit Systems Ltd | 164,676 | $83,951,824 | |
| AVAV | AeroVironment Inc | 264,600 | $83,319,894 | |
| IAU | Ishares Gold Trust | 1,043,630 | $75,944,955 | |
| PWR | Quanta Services, Inc. | 136,490 | $56,564,185 | |
| ORLY | O Reilly Automotive Inc | 507,705 | $54,735,676 | |
| RBLX | Roblox Corp | 359,116 | $49,744,748 | |
| SLV | iShares Silver Trust | 710,038 | $30,084,310 | |
| PHM | Pultegroup Inc/Mi/ | 223,700 | $29,557,481 | |
| T | At&T Inc. | 999,680 | $28,230,963 | |
| ONC | BeOne Medicines Ltd. | 80,000 | $27,256,000 | |
| APPF | Appfolio Inc | 88,500 | $24,395,910 | |
| TEM | Tempus AI, Inc. | 269,800 | $21,775,558 | |
| NBIS | Nebius Group N.V. | 193,900 | $21,769,153 | |
| SMCI | Super Micro Computer, Inc. | 453,800 | $21,755,172 | |
| MTZ | Mastec Inc | 94,500 | $20,110,545 | |
| RACE | Ferrari N.V. | 35,009 | $16,987,066 | |
| WLK | Westlake Corp | 138,920 | $10,705,175 | |
| MLM | Martin Marietta Materials Inc | 15,100 | $9,517,228 | |
| VRNS | Varonis Systems Inc | 136,200 | $7,827,414 | |
| APD | Air Products & Chemicals, Inc. | 24,364 | $6,644,550 | |
| MIRM | Mirum Pharmaceuticals, Inc. | 75,800 | $5,556,898 | |
| No positions match the current search. | ||||
36 positions ·
$4,059,005,596 total
· Basic Materials only
· as of Dec 31, 2025
All sectors
Basic Materials
Communication Services
Consumer Cyclical
Consumer Defensive
Energy
Financial Services
Healthcare
Industrials
Real Estate
Technology
Utilities
| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| AEM |
Agnico Eagle Mines Ltd
Basic Materials
|
Added | 3,711,480 | $629,207,204 | 15.50% | |
| SHW |
Sherwin Williams Co
Basic Materials
|
Added | 1,681,911 | $544,989,621 | 13.43% | |
| FNV |
FRANCO NEVADA Corp
Basic Materials
|
Added | 2,602,355 | $539,416,144 | 13.29% | |
| NTR |
Nutrien Ltd.
Basic Materials
|
Reduced | 7,832,048 | $483,394,002 | 11.91% | |
| CRH |
Crh Public Ltd Co
Basic Materials
|
Reduced | 2,669,059 | $333,098,563 | 8.21% | |
| LIN |
Linde PLC
Basic Materials
|
Added | 472,437 | $201,442,412 | 4.96% | |
| KGC |
Kinross Gold Corp
Basic Materials
|
Reduced | 6,991,010 | $196,866,841 | 4.85% | |
| SCCO |
Southern Copper Corp/
Basic Materials
|
Added | 1,047,019 | $149,023,575 | 3.67% | |
| AGI |
Alamos Gold Inc
Basic Materials
|
Added | 3,775,219 | $145,647,949 | 3.59% | |
| NEM |
NEWMONT Corp /DE/
Basic Materials
|
Added | 1,084,715 | $108,308,792 | 2.67% | |
| WFG |
West Fraser Timber Co., Ltd
Basic Materials
|
Reduced | 1,707,310 | $104,333,714 | 2.57% | |
| STLD |
Steel Dynamics Inc
Basic Materials
|
Added | 551,048 | $93,375,083 | 2.30% | |
| ASH |
Ashland Inc.
Basic Materials
|
Added | 1,416,545 | $83,108,695 | 2.05% | |
| TECK |
Teck Resources Ltd
Basic Materials
|
Reduced | 1,730,380 | $82,867,898 | 2.04% | |
| AMRZ |
Amrize Ltd
Basic Materials
|
Reduced | 1,401,020 | $75,767,161 | 1.87% | |
| FCX |
Freeport-Mcmoran Inc
Basic Materials
|
Added | 1,232,928 | $62,620,413 | 1.54% | |
| RIO |
Rio Tinto PLC
Basic Materials
|
Added | 625,330 | $50,045,159 | 1.23% | |
| WPM |
Wheaton Precious Metals Corp.
Basic Materials
|
Added | 399,550 | $46,955,116 | 1.16% | |
| B |
Barrick Mining Corp
Basic Materials
|
Added | 778,062 | $33,884,600 | 0.83% | |
| ECL |
Ecolab Inc.
Basic Materials
|
Added | 98,385 | $25,828,030 | 0.64% | |
| AU |
AngloGold Ashanti PLC
Basic Materials
|
NEW | 134,500 | $11,470,160 | 0.28% | |
| TFPM |
Triple Flag Precious Metals Corp.
Basic Materials
|
Added | 313,145 | $10,402,676 | 0.26% | |
| HBM |
Hudbay Minerals Inc.
Basic Materials
|
NEW | 470,000 | $9,329,500 | 0.23% | |
| CF |
CF Industries Holdings, Inc.
Basic Materials
|
Added | 116,929 | $9,043,288 | 0.22% | |
| RPM |
Rpm International Inc/De/
Basic Materials
|
Added | 70,182 | $7,298,928 | 0.18% | |
| VMC |
Vulcan Materials CO
Basic Materials
|
Added | 20,600 | $5,875,532 | 0.14% | |
| ERO |
Ero Copper Corp.
Basic Materials
|
NEW | 144,500 | $4,087,905 | 0.10% | |
| EXP |
Eagle Materials Inc
Basic Materials
|
Added | 18,770 | $3,879,383 | 0.10% | |
| CTVA |
Corteva, Inc.
Basic Materials
|
Reduced | 37,798 | $2,533,599 | 0.06% | |
| RGLD |
Royal Gold Inc
Basic Materials
|
NEW | 5,500 | $1,222,595 | 0.03% | |
| IFF |
International Flavors & Fragrances Inc
Basic Materials
|
NEW | 18,000 | $1,213,020 | 0.03% | |
| OR |
OR Royalties Inc.
Basic Materials
|
Reduced | 28,481 | $1,007,942 | 0.02% | |
| NUE |
Nucor Corp
Basic Materials
|
NEW | 4,200 | $685,062 | 0.02% | |
| DD |
DuPont de Nemours, Inc.
Basic Materials
|
Reduced | 11,823 | $475,284 | 0.01% | |
| BTG |
B2gold Corp
Basic Materials
|
NEW | 50,000 | $225,500 | 0.01% | |
| NFGC |
New Found Gold Corp.
Basic Materials
|
Held | 25,000 | $74,250 | 0.00% |