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LM Asset Management Inc.

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13F filer, CIK 2057190, VANCOUVER, British Columbia, Canada

LM Asset Management Inc. reported $97,470,361 across 10 holdings for the quarter ended 2025-03-31, in a 13F-HR filed 2025-05-15.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0000935836-25-000337

Period
2025-03-31
Reported value
$97.5M
Holdings
10
Top 10 weight
100%
New
2
Sold out
2

Largest buys vs the previous quarter

SecurityShares changeApprox. value
ASTLnew+910,000$4.93M
LUMNadded+996,900$3.91M
VETadded+440,000$3.56M
GTEadded+620,011$3.06M
ARISnew+520,000$2.41M

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
TSATreduced-277,750-$5.18M
PSLVreduced-420,000-$4.87M
AQNreduced-540,000-$2.78M
CLWexited-42,300-$1.26M
SLSRexited-172,000-$533K

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, Q1 2025

Share positions as resolved from 13F-HR 0000935836-25-000337, largest first. % of portfolio is the value over $97,355,361, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
LUMNLUMEN TECHNOLOGIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: 8,807,000 shares; 2025Q1: 9,803,900 shares 9,803,900$38.4M39.48%+996,900Timeline
VETVERMILION ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: 2,000,000 shares; 2025Q1: 2,440,000 shares 2,440,000$19.7M20.28%+440,000Timeline
TSATTELESAT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: 809,200 shares; 2025Q1: 531,450 shares 531,450$9.91M10.18%-277,750Timeline
GTEGRAN TIERRA ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: 1,096,589 shares; 2025Q1: 1,716,600 shares 1,716,600$8.46M8.69%+620,011Timeline
AQNALGONQUIN POWER & UTILITIESQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: 1,900,000 shares; 2025Q1: 1,360,000 shares 1,360,000$6.99M7.18%-540,000Timeline
ASTLALGOMA STL GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not reported; 2025Q1: 910,000 shares 910,000$4.93M5.07%newTimeline
PSLVSPROTT ASSET MANAGEMENT LPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: 720,000 shares; 2025Q1: 300,000 shares 300,000$3.48M3.57%-420,000Timeline
STNGSCORPIO TANKERS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: 40,000 shares; 2025Q1: 80,000 shares 80,000$3.01M3.09%+40,000Timeline
ARISARIS MINING CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not reported; 2025Q1: 520,000 shares 520,000$2.41M2.47%newTimeline

Options

Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).

SecurityTypeAmountValueChange
LUMNLUMEN TECHNOLOGIES INC COMcall10,000$115K-300

Sold out in Q1 2025

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

SecurityShares beforeValue beforeType
CLWCLEARWATER PAPER CORP42,300$1.26Mshares
SLSRSOLARIS RES INC172,000$533Kshares

How Q1 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 0000935836-25-000337 base2025-05-15acceptance time not in the bulk data set