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FFAM
Forge First Asset Management Portfolio holdings
AUM
$218M
Turnover
70.18%
1-Year Est. Return
29.22%
This Fund
S&P 500
This Quarter Est. Return
+10.13%
1 Year Est. Return
+29.22%
3 Year Est. Return
+111.74%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$218M
AUM Growth
-$58.6M
(-21%)
Cap. Flow
-$75.9M
Cap. Flow % of AUM
Cap. Flow %
-34.85%
Top 10 Holdings %
Top 10 Hldgs %
59.15%
Holding
57
New
21
Increased
5
Reduced
11
Closed
19
Avg Time Held
Equity + Options
0.5
years
Top 10 Avg Time Held
Equity + Options
0.4
years
Top 20 Avg Time Held
Equity + Options
0.4
years
Avg Time Held Equity only
0.6
years
Top 10 Avg Time Held Equity only
0.4
years
Top 20 Avg Time Held Equity only
0.4
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Casella Waste Systems
CWST
|
+$16.3M |
| 2 |
Hewlett Packard
HPE
|
+$11.9M |
| 3 |
Bombardier Recreational Products
DOO
|
+$7.58M |
| 4 |
Brookfield
BN
|
+$6.65M |
| 5 |
Skeena Resources
SKE
|
+$6.54M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Canadian Pacific Kansas City
CP
|
+$24.2M |
| 2 |
JPMorgan Chase
JPM
|
+$14.9M |
| 3 |
Canadian National Railway
CNI
|
+$13.7M |
| 4 |
Gildan
GIL
|
+$11M |
| 5 |
NVIDIA
NVDA
|
+$10M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Industrials | 29.29% |
| 2 | Technology | 20.25% |
| 3 | Consumer Discretionary | 14.67% |
| 4 | Miscellaneous | 13.23% |
| 5 | Materials | 11.08% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
GFL Environmental
GFL
$19.1B
| $19.7M | 9.05% |
416,100
+124,900
| +43% | +$6.05M |
2022 Q4
11 quarters
|
|
2
Invesco Senior Loan ETF
BKLN
$6.27B
| $19.7M | 9.02% |
939,600
-23,700
| -2% | -$496K |
2024 Q1
6 quarters
|
|
|
3
Casella Waste Systems
CWST
$5.6B
| $15.4M | 7.05% |
+161,722
| New | +$16.3M |
2025 Q3
0 quarters
|
|
|
4
Gildan
GIL
$7.58B
| $14.6M | 6.72% |
253,500
-204,800
| -45% | -$11M |
2024 Q3
4 quarters
|
|
|
5
Hewlett Packard
HPE
$73.2B
| $13.2M | 6.04% |
+536,100
| New | +$11.9M |
2025 Q3
0 quarters
|
|
6
TSMC
TSM
$2.14T
| $12.3M | 5.66% |
44,170
-25,100
| -36% | -$6.14M |
2024 Q1
6 quarters
|
|
7
Amazon
AMZN
$2.7T
| $9.14M | 4.2% |
41,650
+7,600
| +22% | +$1.72M |
2023 Q4
7 quarters
|
|
8
Take-Two Interactive
TTWO
$38.4B
| $8.55M | 3.92% |
33,076
| – | – |
2025 Q1
2 quarters
|
|
|
9
Bombardier Recreational Products
DOO
$3.89B
| $8.19M | 3.76% |
+134,747
| New | +$7.58M |
2025 Q3
0 quarters
|
|
10
B2Gold
BTG
$7.01B
| $8.17M | 3.75% |
+1,652,400
| New | +$6.5M |
2025 Q3
0 quarters
|
|
|
11
Skeena Resources
SKE
$3.95B
| $7.37M | 3.38% |
+400,000
| New | +$6.54M |
2025 Q3
0 quarters
|
|
|
12
Brookfield
BN
$81.7B
| $6.86M | 3.15% |
+150,000
| New | +$6.65M |
2025 Q3
0 quarters
|
|
13
Itron
ITRI
$3.64B
| $6.68M | 3.07% |
53,625
+32,970
| +160% | +$4.19M |
2025 Q2
1 quarter
|
|
14
Meta Platforms (Facebook)
META
$1.81T
| $6.45M | 2.96% |
8,786
+4,886
| +125% | +$3.64M |
2024 Q3
4 quarters
|
|
15
CAE Inc
CAE
$7.77B
| $5.67M | 2.6% |
+191,700
| New | +$5.39M |
2025 Q3
0 quarters
|
|
16
Stantec
STN
$7.79B
| $5.36M | 2.46% |
49,679
-36,900
| -43% | -$4.03M |
2025 Q1
2 quarters
|
|
17
Alamos Gold
AGI
$13.4B
| $5.34M | 2.45% |
153,300
-189,059
| -55% | -$5.4M |
2024 Q3
4 quarters
|
|
18
DELISTED
TopBuild
BLD
| $5.25M | 2.41% |
+13,431
| New | +$5.36M |
2025 Q3
0 quarters
|
|
|
19
NVIDIA
NVDA
$5.17T
| $4.71M | 2.16% |
25,270
-57,100
| -69% | -$10M |
2024 Q1
6 quarters
|
|
20
United Airlines
UAL
$31.2B
| $4.57M | 2.1% |
47,400
-10,600
| -18% | -$1.02M |
2025 Q2
1 quarter
|
|
|
21
Canadian Pacific Kansas City
CP
$76.8B
| $4.05M | 1.86% |
54,411
-316,500
| -85% | -$24.2M |
2022 Q4
11 quarters
|
|
22
DELISTED
Clearwater Analytics
CWAN
| $3.88M | 1.78% |
+215,400
| New | +$4.37M |
2025 Q3
0 quarters
|
|
23
Palo Alto Networks
PANW
$280B
| $3.36M | 1.54% |
16,500
+5,300
| +47% | +$1.01M |
2025 Q1
2 quarters
|
|
24
i-80 Gold Corp Warrants
IAUX.WS
$127M
| $3.15M | 1.45% |
+7,000,000
| New | +$2.03M |
2025 Q3
0 quarters
|
|
25
Comfort Systems
FIX
$50.6B
| $2.93M | 1.34% |
3,545
-5,053
| -59% | -$3.42M |
2025 Q2
1 quarter
|
|
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Forge First Asset Management's Q3 2025 Portfolio in Review
As of Q3 2025, Forge First Asset Management held 57 positions worth $218M, down 21% from $277M the previous quarter. Its ten largest holdings account for 59% of the portfolio.
Forge First Asset Management withdrew a net $75.9M in Q3 2025, closing 19 positions and reducing 11 holdings. Its most notable exit was JPMorgan Chase, an estimated $14.9M position sold in full.
By sector, the portfolio is most concentrated in Industrials at 29% of assets, down from 34% a quarter earlier, followed by Technology and Consumer Discretionary.
Against the trend, Forge First Asset Management opened a new position in Casella Waste Systems worth $15.4M.
- Forge First Asset Management's largest Q3 2025 buy was Casella Waste Systems: 161,722 shares worth $15.4M.
- Forge First Asset Management added most to GFL Environmental in Q3 2025, an estimated $6.05M increase.
- Forge First Asset Management's biggest Q3 2025 reduction was Canadian Pacific Kansas City, cutting an estimated $24.2M.
- Forge First Asset Management fully exited JPMorgan Chase in Q3 2025, selling an estimated $14.9M.
- Forge First Asset Management's ten largest holdings make up 59% of its $218M portfolio in Q3 2025.
- Forge First Asset Management opened 21 new positions and closed 19 in Q3 2025.
- Forge First Asset Management's portfolio value fell 21% quarter-over-quarter to $218M.
Based on Forge First Asset Management's 13F filing for Q3 2025, filed 12 Nov 2025.