Institutional Manager · CIK 0000944388

1832 Asset Management L.P.

TORONTO, A6 · File #028-11685

Latest AUM

$131.31B

Positions

687

Top-10 Concentration

70.6%

Filings

Portfolio Value Over Time

2024-03

2024-06

2024-09

2024-12

2025-03

2025-06

2025-09

2025-12

Biggest QoQ Changes

Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.

Action	Issuer	Ticker / CUSIP	Δ Shares	Flow ($)	Price Effect
REDUCE	SPDR S&P 500 ETF TR	SPY	-25,230,000	-$17.20B	+$1.58B
ADD	BROOKFIELD CORP	11271J107	+29,241,215	+$1.34B	-$370.0M
ADD	TORONTO DOMINION BK ONT	TORO	+10,197,588	+$960.6M	+$314.8M
ADD	CANADIAN NATL RY CO	136375102	+9,294,926	+$918.8M	+$43.0M
ADD	SHOPIFY INC	SHOP	+4,373,310	+$704.0M	+$42.5M
ADD	OPEN TEXT CORP	OTEX	+19,948,681	+$649.9M	-$17.5M
ADD	CAE INC	CAE	+20,664,255	+$628.6M	+$1.2M
ADD	TC ENERGY CORP	TRPRF	+10,540,166	+$579.8M	+$8.4M
NEW	AMAZON COM INC	AMZN	+2,500,000	+$577.0M	$0
ADD	BANK MONTREAL QUE	063671101	+4,080,743	+$529.6M	-$2.9M

Sector Allocation

Technology

10.3%$13.50B

Industrials

4.8%$6.31B

Consumer Discretionary

4.3%$5.67B

3.6%$4.72B

3.4%$4.44B

2.7%$3.56B

2.3%$3.08B

Communication Services

1.2%$1.62B

Utilities

0.7%$887.4M

Consumer Staples

0.6%$753.7M

Real Estate

0.2%$328.1M

Filing History

Feb 13, 202613F COMBINATION REPORTQ/E Dec 2025687 pos · $131.31B
Nov 14, 202513F COMBINATION REPORTQ/E Sep 2025661 pos · $126.69B
Aug 13, 202513F COMBINATION REPORTQ/E Jun 2025652 pos · $128.16B
May 14, 202513F COMBINATION REPORTQ/E Mar 2025652 pos · $110.02B
Feb 14, 202513F COMBINATION REPORTQ/E Dec 2024657 pos · $117.64B
Nov 13, 202413F COMBINATION REPORTQ/E Sep 2024669 pos · $131.44B
Aug 13, 202413F COMBINATION REPORTQ/E Jun 2024888 pos · $123.11B
May 14, 202413F COMBINATION REPORTQ/E Mar 2024884 pos · $168.94B
Nov 13, 202313F COMBINATION REPORTQ/E Dec 2023849 pos · $70.50B
Oct 17, 202313F HOLDINGS REPORT (Amended)Q/E Dec 202327 pos · $7.44B
Oct 17, 202313F HOLDINGS REPORT (Amended)Q/E Dec 20237 pos · $11.45B
Oct 17, 202313F HOLDINGS REPORT (Amended)Q/E Dec 20232 pos · $32.72B
Oct 17, 202313F HOLDINGS REPORT (Amended)Q/E Dec 20231 pos · $20.06B
Oct 17, 202313F HOLDINGS REPORT (Amended)Q/E Dec 202331 pos · $9.09B
Oct 17, 202313F HOLDINGS REPORT (Amended)Q/E Dec 202315 pos · $6.78B

Top 20 Holdings — Dec 2025

#	Issuer	Ticker	Shares	Value	% of Portfolio
1	SPDR S&P 500 ETF TR	SPY	75,000,000	$51.14B	51.47%
2	TORONTO DOMINION BK ONT	TORO	32,289,612	$3.04B	3.06%
3	ROYAL BK CDA	780087102	16,861,242	$2.87B	2.89%
4	MICROSOFT CORP	MSFT	5,645,286	$2.73B	2.75%
5	BROOKFIELD CORP	11271J107	45,546,724	$2.09B	2.10%
6	CANADIAN NATL RY CO	136375102	18,747,746	$1.85B	1.86%
7	AMAZON COM INC	AMZN	7,771,642	$1.79B	1.81%
8	ALPHABET INC	GOOG	5,554,972	$1.74B	1.75%
9	ENBRIDGE INC	ENNPF	30,581,879	$1.46B	1.47%
10	BANK NOVA SCOTIA HALIFAX	064149107	18,761,273	$1.38B	1.39%
11	BANK MONTREAL QUE	063671101	10,417,243	$1.35B	1.36%
12	TC ENERGY CORP	TRPRF	24,512,522	$1.35B	1.36%
13	NVIDIA CORPORATION	NVDA	7,129,801	$1.33B	1.34%
14	SHOPIFY INC	SHOP	7,813,418	$1.26B	1.27%
15	APPLE INC	AAPL	4,399,620	$1.20B	1.20%
16	CANADIAN NAT RES LTD	136385101	31,482,179	$1.07B	1.07%
17	CANADIAN PACIFIC KANSAS CITY	CP	14,328,630	$1.06B	1.06%
18	MANULIFE FINL CORP	56501R106	28,578,141	$1.04B	1.04%
19	WASTE CONNECTIONS INC	WCN	5,652,029	$991.1M	1.00%
20	VISA INC	V	2,718,357	$953.4M	0.96%