1832 Asset Management L.P.

CIK

944388

Location

TORONTO, A6

Portfolio Value

Mid $3,799,581,933

Diversification

Diversified

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 SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+52.0%

SPY

+74.2%

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, 2025

Top 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	Positions
Financial Services	25.2%	$18,732,868,726	90
Technology	20.7%	$15,400,522,506	96
Industrials	13.3%	$9,885,973,857	87
Consumer Cyclical	9.0%	$6,661,879,697	60
Energy	8.0%	$5,956,358,878	32
Healthcare	7.2%	$5,390,804,237	53
Basic Materials	5.5%	$4,059,005,596	36
Communication Services	5.1%	$3,799,581,933	19
Real Estate	2.1%	$1,556,719,218	38
Consumer Defensive	2.0%	$1,499,891,585	26
Utilities	1.8%	$1,369,210,681	27
Unclassified	0.1%	$70,406,953	8

Last Quarter's Activity

Export CSV

Dec 31, 2025 vs Sep 30, 2025

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
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
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
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
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.

Portfolio Positions

Compact Export CSV View 13F filing

19 positions · $3,799,581,933 total · Communication Services 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	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
GOOGL	Alphabet Inc. Communication Services	Added	5,554,972	+763,588	$1,738,706,236	+49.3%	45.76%
META	Meta Platforms, Inc. Communication Services	Reduced	678,884	-342,885	$448,124,539	−40.3%	11.79%
TU	Telus Corp Communication Services	Reduced	33,012,974	-5,661,446	$434,780,867	−28.7%	11.44%
RCI	Rogers Communications Inc Communication Services	Added	10,053,298	+1,410,841	$379,310,933	+27.3%	9.98%
NFLX	Netflix Inc Communication Services	Added	3,505,956	+3,459,179	$328,718,434	+5761.4%	8.65%
APP	AppLovin Corp Communication Services	Reduced	331,578	-90,163	$223,423,887	−26.3%	5.88%
EA	Electronic Arts Inc. Communication Services	Reduced	403,693	-19,762	$82,486,590	−3.4%	2.17%
RDDT	Reddit, Inc. Communication Services	Reduced	331,587	-89,900	$76,221,903	−21.4%	2.01%
BCE	Bce Inc Communication Services	Added	1,386,551	+1,009,905	$33,027,644	+274.9%	0.87%
CMCSA	Comcast Corp Communication Services	Added	642,214	+153,906	$17,990,405	+25.1%	0.47%
DIS	Walt Disney Co Communication Services	Reduced	126,076	-7,004	$14,343,666	−5.9%	0.38%
TTWO	Take Two Interactive Software Inc Communication Services	Added	50,000	+44,700	$12,801,500	+834.9%	0.34%
VZ	Verizon Communications Inc Communication Services	Added	94,977	+5,811	$3,868,413	−1.3%	0.10%
PINS	Pinterest, Inc. Communication Services	Added	76,218	+1,921	$1,973,284	−17.4%	0.05%
SPOT	Spotify Technology S.A. Communication Services	Reduced	2,338	-154,532	$1,357,699	−98.8%	0.04%
FOXA	Fox Corp Communication Services	Reduced	13,425	-24,868	$980,964	−59.4%	0.03%
SPHR	Sphere Entertainment Co. Communication Services	Added	8,248	+1,275	$784,219	+81.0%	0.02%
WMG	Warner Music Group Corp. Communication Services	Reduced	14,681	-596	$450,266	−13.5%	0.01%
BIDU	Baidu, Inc. Communication Services	Reduced	1,764	-323,236	$230,484	−99.5%	0.01%