Forge First Asset Management Inc. — 13F Holdings & Portfolio
CIK 1963062 · latest 13F-HR filed 2025-11-12
Forge First Asset Management Inc. manages $217.9M in 13F-reported U.S. long-equity assets across 38 reported positions as of its 2025-09-30 13F-HR filing. Its largest disclosed positions are GFL (9.05%), BKLN (9.02%), CWST (7.05%). Quarter over quarter (versus its 2025-06-30 filing) the fund opened 21 new positions, exited 19, added to 6, and trimmed 9.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
$217.9M
Long-equity book
38
Distinct positions
2025-09-30
Filed 2025-11-12
+21 / −19 / ↑6 / ↓9
vs 2025-06-30
| Name | Title / Status | Ownership | Type |
|---|
Top Adds (vs prior quarter)
- GFL ENVIRONMENTAL INC$5.0M +34.3%
- ITRON INC$4.0M +145.8%
- META PLATFORMS INC$3.6M +124.2%
- AMAZON COM INC$1.7M +22.4%
- PALO ALTO NETWORKS INC$1.1M +46.6%
Top Trims
- CANADIAN PACIFIC KANSAS CITY-$25.3M -86.2%
- NVIDIA CORPORATION-$8.3M -63.7%
- GILDAN ACTIVEWEAR INC-$7.9M -35.0%
- ALPHABET INC-$4.7M -74.8%
- STANTEC INC-$4.0M -43.0%
New Positions
- CASELLA WASTE SYS INC$15.4M
- HEWLETT PACKARD ENTERPRISE C$13.2M
- BRP INC$8.2M
- B2GOLD CORP$8.2M
- SKEENA RES LTD NEW$7.4M
Exited Positions
- JPMORGAN CHASE & CO.$14.9M
- CANADIAN NATL RY CO$13.7M
- VIZSLA SILVER CORP$9.7M
- BROOKFIELD BUSINESS PARTNERS$9.3M
- MARVELL TECHNOLOGY INC$8.0M
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | GFL ENVIRONMENTAL INC | GFL | 36168Q104 | $19.7M | 9.05% | 416,100 | SH |
| 2 | INVESCO EXCH TRADED FD TR II | BKLN | 46138G508 | $19.7M | 9.02% | 939,600 | SH |
| 3 | CASELLA WASTE SYS INC | CWST | 147448104 | $15.4M | 7.05% | 161,722 | SH |
| 4 | GILDAN ACTIVEWEAR INC | GIL | 375916103 | $14.6M | 6.72% | 253,500 | SH |
| 5 | HEWLETT PACKARD ENTERPRISE C | HPE | 42824C109 | $13.2M | 6.04% | 536,100 | SH |
| 6 | TAIWAN SEMICONDUCTOR MFG LTD | TSM | 874039100 | $12.3M | 5.66% | 44,170 | SH |
| 7 | AMAZON COM INC | AMZN | 023135106 | $9.1M | 4.20% | 41,650 | SH |
| 8 | TAKE-TWO INTERACTIVE SOFTWAR | TTWO | 874054109 | $8.5M | 3.92% | 33,076 | SH |
| 9 | BRP INC | DOO | 05577W200 | $8.2M | 3.76% | 134,747 | SH |
| 10 | B2GOLD CORP | BTG | 11777Q209 | $8.2M | 3.75% | 1,652,400 | SH |
| 11 | SKEENA RES LTD NEW | SKE | 83056P715 | $7.4M | 3.38% | 400,000 | SH |
| 12 | BROOKFIELD CORP | BN | 11271J107 | $6.9M | 3.15% | 100,000 | SH |
| 13 | ITRON INC | ITRI | 465741106 | $6.7M | 3.07% | 53,625 | SH |
| 14 | META PLATFORMS INC | META | 30303M102 | $6.5M | 2.96% | 8,786 | SH |
| 15 | CAE INC | CAE | 124765108 | $5.7M | 2.60% | 191,700 | SH |
| 16 | STANTEC INC | STN | 85472N109 | $5.4M | 2.46% | 49,679 | SH |
| 17 | ALAMOS GOLD INC NEW | AGI | 011532108 | $5.3M | 2.45% | 153,300 | SH |
| 18 | TOPBUILD CORP | BLD | 89055F103 | $5.3M | 2.41% | 13,431 | SH |
| 19 | NVIDIA CORPORATION | NVDA | 67066G104 | $4.7M | 2.16% | 25,270 | SH |
| 20 | UNITED AIRLS HLDGS INC | UAL | 910047109 | $4.6M | 2.10% | 47,400 | SH |
| 21 | CANADIAN PACIFIC KANSAS CITY | CP | 13646K108 | $4.1M | 1.86% | 54,411 | SH |
| 22 | CLEARWATER ANALYTICS HLDGS I | CWAN | 185123106 | $3.9M | 1.78% | 215,400 | SH |
| 23 | PALO ALTO NETWORKS INC | PANW | 697435105 | $3.4M | 1.54% | 16,500 | SH |
| 24 | I-80 GOLD CORP | IAUX.WS | 44955L155 | $3.1M | 1.45% | 7,000,000 | SH |
| 25 | COMFORT SYS USA INC | FIX | 199908104 | $2.9M | 1.34% | 3,545 | SH |
| 26 | SPDR S&P 500 ETF TR | XCNY | 78462F953 | $2.3M | 1.05% | 3,200 | SH |
| 27 | GALIANO GOLD INC | GAU | 36352H100 | $2.2M | 1.00% | 1,000,000 | SH |
| 28 | ALPHABET INC | GOOG | 02079K107 | $1.6M | 0.73% | 6,565 | SH |
| 29 | PINTEREST INC | PINS | 72352L106 | $1.6M | 0.71% | 48,400 | SH |
| 30 | ORLA MNG LTD NEW | ORLA | 68634K106 | $1.1M | 0.50% | 100,000 | SH |
| 31 | POWELL INDS INC | POWL | 739128106 | $933.0K | 0.43% | 3,061 | SH |
| 32 | BROADCOM INC | AVGO | 11135F901 | $917.2K | 0.42% | 750 | SH |
| 33 | HEWLETT PACKARD ENTERPRISE C | HPEPC | 42824C909 | $736.0K | 0.34% | 4,000 | SH |
| 34 | VANECK ETF TRUST | GENZ | 92189F956 | $670.0K | 0.31% | 1,000 | SH |
| 35 | GILDAN ACTIVEWEAR INC | GIL | 375916903 | $571.1K | 0.26% | 2,000 | SH |
| 36 | INSTALLED BLDG PRODS INC | — | 45780R951 | $352.8K | 0.16% | 300 | SH |
| 37 | BROOKFIELD CORP | BKFAF | 11271J907 | $259.7K | 0.12% | 1,500 | SH |
| 38 | ALPHABET INC | GOOGL | 02079K907 | $235.0K | 0.11% | 500 | SH |
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2025-09-30 | 2025-11-12 | $217.9M | 38 | 0001214659-25-016242 |
| 2025-06-30 | 2025-08-12 | $276.5M | 36 | 0001214659-25-011810 |