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Forge First Asset Management Inc.

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13F filer, CIK 1963062, TORONTO, Canada

Forge First Asset Management Inc. reported $276,504,731 across 36 holdings for the quarter ended 2025-06-30, in a 13F-HR filed 2025-08-12. Its ten largest share positions make up 58.98% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001214659-25-011810

Period
2025-06-30
Reported value
$277M
Holdings
36
Top 10 weight
58.98%
New
15
Sold out
10

Part of the filer group CI INVESTMENTS INC.

How groups are built

Largest buys vs the previous quarter

SecurityShares changeApprox. value
JPMnew+51,350$14.9M
VZLAnew+3,300,000$9.68M
AGIadded+308,435$8.19M
MRVLnew+103,800$8.03M
XPOnew+48,100$6.08M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
CNIreduced-97,400-$10.1M
TUexited-622,200-$8.94M
METAreduced-11,623-$8.58M
XYZexited-117,500-$6.39M
GPNexited-59,300-$5.81M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q2 2025

Share positions as resolved from 13F-HR 0001214659-25-011810, largest first. % of portfolio is the value over $276,504,731, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
CPCANADIAN PACIFIC KANSAS CITYQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 208,300 shares; 2024Q4: 271,000 shares; 2025Q1: 315,911 shares; 2025Q2: 370,911 shares 370,911$29.4M10.62%+55,000Timeline
GILGILDAN ACTIVEWEAR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 22,400 shares; 2024Q4: 46,600 shares; 2025Q1: 379,200 shares; 2025Q2: 458,300 shares 458,300$22.5M8.15%+79,100Timeline
BKLNINVESCO EXCH TRADED FD TR IIQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,854,100 shares; 2024Q4: 1,854,100 shares; 2025Q1: 963,300 shares; 2025Q2: 963,300 shares 963,300$20.2M7.29%0Timeline
TSMTAIWAN SEMICONDUCTOR MANUFACQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 58,470 shares; 2024Q4: 76,370 shares; 2025Q1: 73,370 shares; 2025Q2: 69,270 shares 69,270$15.7M5.67%-4,100Timeline
JPMJPMORGAN CHASE & COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 51,350 shares 51,350$14.9M5.38%newTimeline
GFLGFL ENVIRONMENTAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 67,775 shares; 2024Q4: 67,775 shares; 2025Q1: 372,000 shares; 2025Q2: 291,200 shares 291,200$14.7M5.31%-80,800Timeline
CNICANADIAN NATL RY COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 176,800 shares; 2025Q1: 229,300 shares; 2025Q2: 131,900 shares 131,900$13.7M4.96%-97,400Timeline
NVDANVIDIA CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,410 shares; 2024Q4: 7,710 shares; 2025Q1: 82,370 shares; 2025Q2: 82,370 shares 82,370$13M4.7%0Timeline
VZLAVIZSLA SILVER CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 3,300,000 shares 3,300,000$9.68M3.5%newTimeline
STNSTANTEC INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 44,579 shares; 2025Q2: 86,579 shares 86,579$9.4M3.4%+42,000Timeline
BBUBROOKFIELD BUSINESS PARTNERS LQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 359,464 shares; 2024Q4: 532,964 shares; 2025Q1: 371,565 shares; 2025Q2: 357,465 shares 357,465$9.33M3.38%-14,100Timeline
AGIALAMOS GOLD INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 167,600 shares; 2024Q4: 223,200 shares; 2025Q1: 33,924 shares; 2025Q2: 342,359 shares 342,359$9.09M3.29%+308,435Timeline
TTWOTAKE-TWO INTERACTIVE SOFTWARQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 33,076 shares; 2025Q2: 33,076 shares 33,076$8.03M2.9%0Timeline
MRVLMARVELL TECHNOLOGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 117,921 shares; 2025Q1: not reported; 2025Q2: 103,800 shares 103,800$8.03M2.9%newTimeline
AMZNAMAZON COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 18,000 shares; 2024Q4: 39,500 shares; 2025Q1: 40,650 shares; 2025Q2: 34,050 shares 34,050$7.47M2.7%-6,600Timeline
GOOGALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 28,010 shares; 2024Q4: not reported; 2025Q1: 23,000 shares; 2025Q2: 35,800 shares 35,800$6.35M2.3%+12,800Timeline
XPOXPO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 48,100 shares 48,100$6.08M2.2%newTimeline
CHKPCHECK POINT SOFTWARE TECH LTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 23,204 shares; 2024Q4: 29,004 shares; 2025Q1: not reported; 2025Q2: 25,900 shares 25,900$5.73M2.07%newTimeline
AMDADVANCED MICRO DEVICES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 38,000 shares 38,000$5.39M1.95%newTimeline
IAUXI-80 GOLD CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 7,910,800 shares 7,910,800$4.87M1.76%newTimeline
BACBANK OF AMER CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 103,000 shares 103,000$4.87M1.76%newTimeline
UALUNITED AIRLS HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 58,000 shares 58,000$4.62M1.67%newTimeline
FIXCOMFORT SYS USA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 8,598 shares 8,598$4.61M1.67%newTimeline
GRNDGRINDR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 219,763 shares; 2025Q2: 152,799 shares 152,799$3.47M1.26%-66,964Timeline
MSFTMICROSOFT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 7,975 shares; 2024Q4: not reported; 2025Q1: 17,340 shares; 2025Q2: 6,540 shares 6,540$3.25M1.18%-10,800Timeline
METAMETA PLATFORMS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 14,700 shares; 2024Q4: 21,070 shares; 2025Q1: 15,523 shares; 2025Q2: 3,900 shares 3,900$2.88M1.04%-11,623Timeline
ITRIITRON INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 20,655 shares 20,655$2.72M0.98%newTimeline
BIPBROOKFIELD INFRASTRUCTURE PAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 117,298 shares; 2024Q4: 72,598 shares; 2025Q1: 148,898 shares; 2025Q2: 80,398 shares 80,398$2.69M0.97%-68,500Timeline
STATE STR SPDR S&P 500 ETF TSTATE STR SPDR S&P 500 ETF TQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,000 shares; 2024Q4: 2,000 shares; 2025Q1: 5,050 shares; 2025Q2: 6,500 shares 6,500$2.49M0.9%+1,450
SITMSITIME CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 27,700 shares; 2025Q2: 11,670 shares 11,670$2.49M0.9%-16,030Timeline
OROR ROYALTIES INC.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 92,900 shares 92,900$2.38M0.86%newTimeline
PANWPALO ALTO NETWORKS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 10,100 shares; 2025Q2: 11,200 shares 11,200$2.29M0.83%+1,100Timeline
ISHARES TRISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 8,000 shares 8,000$1.82M0.66%new
MYRGMYR GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 46,979 shares; 2024Q4: 37,994 shares; 2025Q1: 24,515 shares; 2025Q2: 5,815 shares 5,815$1.06M0.38%-18,700Timeline
CLSCELESTICA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 5,906 shares 5,906$921K0.33%newTimeline
META PLATFORMS INCMETA PLATFORMS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 400 shares 400$502K0.18%new

Sold out in Q2 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
TUTELUS CORPORATION622,200$8.94Mshares
XYZBLOCK INC117,500$6.39Mshares
GPNGLOBAL PMTS INC59,300$5.81Mshares
GRTUFGRANITE REAL ESTATE INVESTME95,800$4.47Mshares
VVISA INC12,100$4.24Mshares
MAMASTERCARD INCORPORATED7,300$4Mshares
PBAPEMBINA PIPELINE CORP96,200$3.85Mshares
DSGXDESCARTES SYS GROUP INC22,200$2.24Mshares
PTONPELOTON INTERACTIVE INC149,300$944Kshares
NBISNEBIUS GROUP N.V.29,950$632Kshares

How Q2 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001214659-25-011810 base2025-08-12acceptance time not in the bulk data set