Forge First Asset Management
TORONTO, ONTARIO, Z4files as Forge First Asset Management Inc.
$218m in 38 US stocks at the end of 30 September 2025. The top 10 are 59.2% of the money. It changed about 53.0% of the portfolio this quarter.
Value
$218m
Stocks
38
Top 10 share
59.2%
Turnover
53.0%
What changed this quarter
New
Bought for the first time this quarter.
- Casella Waste SystemsCWST7.0% of the fund
- Hewlett Packard EnterpriseHPE6.0% of the fund
- BRPDOO3.8% of the fund
- B2goldBTG3.7% of the fund
- Skeena ResourcesSKE3.4% of the fund
- BrookfieldBN3.1% of the fund
- CAECAE2.6% of the fund
- Topbuild COR2.4% of the fund
- Clearwater Analytics Hldgs I1.8% of the fund
- I-80 GoldIAUX-WS1.4% of the fund
- Galiano GoldGAU1.0% of the fund
- PinterestPINS0.7% of the fund
- Orla MNG LTD NewORLA0.5% of the fund
- Powell IndustriesPOWL0.4% of the fund
- Broadcom0.4% of the fund
- Hewlett Packard Enterprise C0.3% of the fund
- Vaneck ETF Trust0.3% of the fund
- Gildan Activewear0.3% of the fund
- Installed Bldg Prods0.2% of the fund
- Brookfield0.1% of the fund
- Alphabet0.1% of the fund
Added
Bought more of a stock they already held.
- GFL EnvironmentalGFL9.0% of the fund+43%
- Amazon.comAMZN4.2% of the fund+22%
- ItronITRI3.1% of the fund+160%
- Meta PlatformsMETA3.0% of the fund+125%
- Palo Alto NetworksPANW1.5% of the fund+47%
Cut
Sold some of their stake.
- Invesco Exch Traded FD TR IIBKLN9.0% of the fund-2%
- Gildan ActivewearGIL6.7% of the fund-45%
- Taiwan Semiconductor ManufacturingTSM5.7% of the fund-36%
- StantecSTN2.5% of the fund-43%
- Alamos GoldAGI2.5% of the fund-55%
- NvidiaNVDA2.2% of the fund-69%
- United Airlines HoldingsUAL2.1% of the fund-18%
- Canadian Pacific Kansas CityCP1.9% of the fund-85%
- Comfort Systems USAFIX1.3% of the fund-59%
- State STR Spdr S&P 500 ETF T1.0% of the fund-51%
- AlphabetGOOG0.7% of the fund-82%
Sold out
Sold their entire stake.
- JPMorgan ChaseJPM-100%
- Canadian National RailwayCNI-100%
- Vizsla SilverVZLA-100%
- Brookfield Business P LPBBU-100%
- Marvell TechnologyMRVL-100%
- XPOXPO-100%
- Check Point Software TechnologiesCHKP-100%
- Advanced Micro DevicesAMD-100%
- i-80 GoldIAUX-100%
- Bank of AmericaBAC-100%
- GrindrGRND-100%
- MicrosoftMSFT-100%
- Brookfield Infrastructure PABIP-100%
- SitimeSITM-100%
- OR RoyaltiesOR-100%
- Ishares TR-100%
- MYR GroupMYRG-100%
- CelesticaCLS-100%
- Meta Platforms-100%
Holdings
- GFL EnvironmentalGFL
- Share
- 9.0%
- Value
- $20m
- Shares
- 416,100
+43%
- Invesco Exch Traded FD TR IIBKLN
- Share
- 9.0%
- Value
- $20m
- Shares
- 939,600
-2%
- Gildan ActivewearGIL
- Share
- 6.7%
- Value
- $15m
- Shares
- 253,500
-45%
- BRPDOO
- Share
- 3.8%
- Value
- $8m
- Shares
- 134,747
New
- B2goldBTG
- Share
- 3.7%
- Value
- $8m
- Shares
- 1,652,400
New
- Skeena ResourcesSKE
- Share
- 3.4%
- Value
- $7m
- Shares
- 400,000
New
- BrookfieldBN
- Share
- 3.1%
- Value
- $7m
- Shares
- 100,000
New
- CAECAE
- Share
- 2.6%
- Value
- $6m
- Shares
- 191,700
New
- StantecSTN
- Share
- 2.5%
- Value
- $5m
- Shares
- 49,679
-43%
- Alamos GoldAGI
- Share
- 2.5%
- Value
- $5m
- Shares
- 153,300
-55%
- Topbuild COR
- Share
- 2.4%
- Value
- $5m
- Shares
- 13,431
New
- Clearwater Analytics Hldgs I
- Share
- 1.8%
- Value
- $4m
- Shares
- 215,400
New
- I-80 GoldIAUX-WS
- Share
- 1.4%
- Value
- $3m
- Shares
- 7,000,000
New
- State STR Spdr S&P 500 ETF T
- Share
- 1.0%
- Value
- $2m
- Shares
- 3,200
-51%
- Galiano GoldGAU
- Share
- 1.0%
- Value
- $2m
- Shares
- 1,000,000
New
- Orla MNG LTD NewORLA
- Share
- 0.5%
- Value
- $1m
- Shares
- 100,000
New
- Broadcom
- Share
- 0.4%
- Value
- $917,250
- Shares
- 750
New
- Hewlett Packard Enterprise C
- Share
- 0.3%
- Value
- $736,000
- Shares
- 4,000
New
- Vaneck ETF Trust
- Share
- 0.3%
- Value
- $670,000
- Shares
- 1,000
New
- Gildan Activewear
- Share
- 0.3%
- Value
- $571,080
- Shares
- 2,000
New
- Installed Bldg Prods
- Share
- 0.2%
- Value
- $352,800
- Shares
- 300
New
- Brookfield
- Share
- 0.1%
- Value
- $259,680
- Shares
- 1,500
New
- Alphabet
- Share
- 0.1%
- Value
- $235,000
- Shares
- 500
New
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| GFL EnvironmentalGFL | 9.0% | $20m | 416,100 | +43% |
| Invesco Exch Traded FD TR IIBKLN | 9.0% | $20m | 939,600 | -2% |
| Casella Waste SystemsCWST | 7.0% | $15m | 161,722 | New |
| Gildan ActivewearGIL | 6.7% | $15m | 253,500 | -45% |
| Hewlett Packard EnterpriseHPE | 6.0% | $13m | 536,100 | New |
| Taiwan Semiconductor ManufacturingTSM | 5.7% | $12m | 44,170 | -36% |
| Amazon.comAMZN | 4.2% | $9m | 41,650 | +22% |
| Take TWO Interactive SoftwareTTWO | 3.9% | $9m | 33,076 | Held |
| BRPDOO | 3.8% | $8m | 134,747 | New |
| B2goldBTG | 3.7% | $8m | 1,652,400 | New |
| Skeena ResourcesSKE | 3.4% | $7m | 400,000 | New |
| BrookfieldBN | 3.1% | $7m | 100,000 | New |
| ItronITRI | 3.1% | $7m | 53,625 | +160% |
| Meta PlatformsMETA | 3.0% | $6m | 8,786 | +125% |
| CAECAE | 2.6% | $6m | 191,700 | New |
| StantecSTN | 2.5% | $5m | 49,679 | -43% |
| Alamos GoldAGI | 2.5% | $5m | 153,300 | -55% |
| Topbuild COR | 2.4% | $5m | 13,431 | New |
| NvidiaNVDA | 2.2% | $5m | 25,270 | -69% |
| United Airlines HoldingsUAL | 2.1% | $5m | 47,400 | -18% |
| Canadian Pacific Kansas CityCP | 1.9% | $4m | 54,411 | -85% |
| Clearwater Analytics Hldgs I | 1.8% | $4m | 215,400 | New |
| Palo Alto NetworksPANW | 1.5% | $3m | 16,500 | +47% |
| I-80 GoldIAUX-WS | 1.4% | $3m | 7,000,000 | New |
| Comfort Systems USAFIX | 1.3% | $3m | 3,545 | -59% |
| State STR Spdr S&P 500 ETF T | 1.0% | $2m | 3,200 | -51% |
| Galiano GoldGAU | 1.0% | $2m | 1,000,000 | New |
| AlphabetGOOG | 0.7% | $2m | 6,565 | -82% |
| PinterestPINS | 0.7% | $2m | 48,400 | New |
| Orla MNG LTD NewORLA | 0.5% | $1m | 100,000 | New |
| Powell IndustriesPOWL | 0.4% | $933,023 | 3,061 | New |
| Broadcom | 0.4% | $917,250 | 750 | New |
| Hewlett Packard Enterprise C | 0.3% | $736,000 | 4,000 | New |
| Vaneck ETF Trust | 0.3% | $670,000 | 1,000 | New |
| Gildan Activewear | 0.3% | $571,080 | 2,000 | New |
| Installed Bldg Prods | 0.2% | $352,800 | 300 | New |
| Brookfield | 0.1% | $259,680 | 1,500 | New |
| Alphabet | 0.1% | $235,000 | 500 | New |
Over time and by industry
Value over time
Sep '25
Value is down 21.2% since 30 June 2025.
Where the money is
Technology18.4%
Utilities16.1%
Industrials14.6%
Retail & consumer10.9%
Materials10.6%
Media & telecom8.3%
Real estate3.1%
Other17.9%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.