Alberta Investment Management Corp's Q2 2025 13F: 208 new positions, 390 exits

Form 13F-HR for the quarter ended Jun 30, 2025 · filed Aug 8, 2025 · 538 reported positions · accession 0001123292-25-000343 · Amended

View the filing on SEC.gov

What changed this quarter

Activity Security Weight before Weight now Change Shares Shares %
Increased VANGUARD INDEX FDS (VOO) 1.5% 5.5% +4.0 pts +730K sh +176%
Reduced ISHARES TR (IVV) 20.3% 24.3% +4.1 pts −385K sh −8%
Reduced ROYAL BK CDA (RY) 2.9% 2.7% −0.3 pts −1.26M sh −34%
Reduced NVIDIA CORPORATION (NVDA) 1.0% 0.5% −0.6 pts −969K sh −74%
Reduced SPDR S&P 500 ETF TR (SPY) 10.9% 12.9% +2.0 pts −238K sh −9%
Reduced SHOPIFY INC (SHOP) 1.4% 0.8% −0.6 pts −1.25M sh −61%
Reduced AMAZON COM INC (AMZN) 1.0% 0.3% −0.7 pts −578K sh −79%
Reduced MICROSOFT CORP (MSFT) 0.9% 0.4% −0.5 pts −237K sh −70%
Reduced TORONTO DOMINION BK ONT (TD) 2.0% 1.9% 0.0 pts −1.5M sh −32%
Reduced BROOKFIELD CORP (BN) 1.7% 1.5% −0.1 pts −1.54M sh −35%
Reduced MERCADOLIBRE INC (MELI) 0.5% 0.0% −0.5 pts −33,318 sh −96%
Reduced AGNICO EAGLE MINES LTD (AEM) 1.6% 1.5% −0.2 pts −639K sh −31%
Reduced THOMSON REUTERS CORP (TRI) 0.5% 0.2% −0.4 pts −339K sh −77%
Reduced META PLATFORMS INC (META) 0.9% 0.7% −0.1 pts −87,261 sh −42%
Reduced TC ENERGY CORP (TRP) 1.0% 0.7% −0.3 pts −1.27M sh −44%
Reduced FRANCO NEV CORP (FNV) 0.6% 0.2% −0.4 pts −374K sh −73%
Reduced VISA INC (V) 0.5% 0.1% −0.4 pts −173K sh −82%
Reduced NETFLIX INC (NFLX) 0.4% 0.1% −0.2 pts −42,583 sh −81%
Exited ISHARES TR (IJR) 0.5% — −0.5 pts −623K sh −100%
Reduced MANULIFE FINL CORP (MFC) 1.1% 0.8% −0.2 pts −1.73M sh −36%
New AXIS CAP HLDGS LTD (AXS) — 0.5% +0.5 pts +530K sh new
Reduced WASTE CONNECTIONS INC (WCN) 0.6% 0.3% −0.3 pts −268K sh −61%
Reduced FORTIS INC (FTS) 0.4% 0.1% −0.3 pts −989K sh −77%
Reduced SUNCOR ENERGY INC NEW (SU) 1.1% 0.9% −0.2 pts −1.14M sh −29%
Exited ALIBABA GROUP HLDG LTD (BABA) 0.4% — −0.4 pts −378K sh −100%
Reduced APPLE INC (AAPL) 0.7% 0.4% −0.3 pts −204K sh −45%
Reduced CANADIAN NAT RES LTD (CNQ) 1.2% 1.1% −0.1 pts −1.33M sh −25%
Exited TAIWAN SEMICONDUCTOR MFG LTD (TSM) 0.3% — −0.3 pts −294K sh −100%
Reduced WHEATON PRECIOUS METALS CORP (WPM) 0.4% 0.2% −0.2 pts −457K sh −59%
Reduced PEMBINA PIPELINE CORP (PBA) 0.4% 0.1% −0.3 pts −1.09M sh −71%
Reduced DOORDASH INC (DASH) 0.2% 0.1% −0.2 pts −163K sh −87%
Exited ISHARES TR (SCZ) 0.3% — −0.3 pts −720K sh −100%
Reduced ENBRIDGE INC (ENB) 1.3% 1.3% −0.1 pts −855K sh −20%
New WILLIS TOWERS WATSON PLC LTD (WTW) — 0.3% +0.3 pts +125K sh new
Reduced CAMECO CORP (CCJ) 0.2% 0.2% 0.0 pts −507K sh −62%
New EQV VENTURES ACQUISITION COR (FTW) — 0.3% +0.3 pts +3.45M sh new
Reduced ROGERS COMMUNICATIONS INC (RCI) 0.3% 0.1% −0.2 pts −1.22M sh −82%
Reduced COLLIERS INTL GROUP INC (CIGI) 0.5% 0.4% −0.1 pts −255K sh −44%
Reduced ALPHABET INC (GOOG) 0.3% 0.1% −0.2 pts −179K sh −70%
Reduced TFI INTL INC (TFII) 0.2% 0.1% −0.2 pts −342K sh −83%
Reduced CANADIAN PACIFIC KANSAS CITY (CP) 1.0% 1.1% +0.1 pts −384K sh −19%
New TXNM ENERGY INC (PNM) — 0.2% +0.2 pts +500K sh new
New STELLANTIS N.V (STLA) — 0.2% +0.2 pts +2.79M sh new
New M3BRIGADE ACQUISITION V CORP (MBAV) — 0.2% +0.2 pts +2.48M sh new
Reduced MASTERCARD INCORPORATED (MA) 0.2% 0.1% −0.2 pts −49,357 sh −78%
Exited AXON ENTERPRISE INC (AXON) 0.2% — −0.2 pts −61,116 sh −100%
Reduced STANTEC INC (STN) 0.5% 0.5% 0.0 pts −251K sh −32%
Exited FULL TRUCK ALLIANCE CO LTD (YMM) 0.2% — −0.2 pts −2.38M sh −100%
Reduced TELUS CORPORATION (TU) 0.3% 0.1% −0.1 pts −1.54M sh −60%
Reduced CANADIAN IMPERIAL BANK OF CO (CM) 0.4% 0.4% 0.0 pts −345K sh −36%

The 50 largest of 822 changes, by size of the trade. Full holdings for this quarter.

Reported by the fund in its Form 13F filed with the SEC; holdings are as of the quarter-end report date and may have changed since. For informational purposes only — not investment advice or a recommendation to buy or sell any security. FilingExplorer is not affiliated with or endorsed by this fund. How this brief is compiled

† Security identifier (CUSIP) changed — read as one continuing position, not an exit and a new position:

  • OR ROYALTIES INC. (OR): 68827L101 → 68390D106, 791K → 96,800 shares (share count changed with the identifier; not shown as a trade)

Top 10 positions — 54.0% of the equity book

Changes in the top 10 this quarter: BMO entered · CP entered · SHOP left · CNQ left

# Security Weight before Weight now
1 ISHARES TR (IVV) 20.3% 24.3%
2 SPDR S&P 500 ETF TR (SPY) 10.9% 12.9%
3 VANGUARD INDEX FDS (VOO) 1.5% 5.5%
4 ROYAL BK CDA (RY) 2.9% 2.7%
5 TORONTO DOMINION BK ONT (TD) 2.0% 1.9%
6 BROOKFIELD CORP (BN) 1.7% 1.5%
7 AGNICO EAGLE MINES LTD (AEM) 1.6% 1.5%
8 BANK MONTREAL QUE (BMO) 1.2% 1.4% Entered the top 10
9 ENBRIDGE INC (ENB) 1.3% 1.3%
10 CANADIAN PACIFIC KANSAS CITY (CP) 1.0% 1.1% Entered the top 10
— SHOPIFY INC (SHOP) 1.4% 0.8% Left the top 10
— CANADIAN NAT RES LTD (CNQ) 1.2% 1.1% Left the top 10

Weights are each position's reported value as a share of the fund's reported equity positions (options and principal-amount holdings excluded).

Option positions (puts and calls)

Reported separately from the positions above. The value a 13F reports for an option is that of the underlying shares, not the option itself.

Activity Security Type Shares before Shares now Reported value
New SPDR S&P 500 ETF TR (SPY) Put 0 300K $185M