Managers / Q1 2026
LM Asset Management Inc.
CIK 0002057190 · 1640 - 1055 W. HASTINGS STREET, VANCOUVER, V6E 2E9 · 778-688-3813
Summary
Lm Asset Management Inc. reported $192M in U.S.-listed holdings across 10 positions for Q1 2026.
The portfolio is heavily concentrated: VET alone accounts for 22.6% of reported value.
Compared with Q4 2025, the fund opened 1 new position and exited 2.
Portfolio Metrics
Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.
Reported Value by Quarter
Portfolio Composition
- Common Stock · 94.7% · $182M
- REIT · 5.3% · $10M
Quarter-over-Quarter Changes full breakdown →
vs Q4 2025 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| GPKGRAPHIC PACKAGING HLDG CO | NEW | +360.0K | 360.0K | +$4M | $4M |
| CMTGEURCLAROS MTG TR INC | ADDED | +866.0K | 1.40M | +$2M | $3M |
| LUMNLUMEN TECHNOLOGIES INC | ADDED | +5.00M | 8.77M | +$30M | $61M |
| SPROTT ASSET MANAGEMENT LP | SOLD OUT | −210.0K | 0 | −$5M | $0 |
| ARISARIS MNG CORP | SOLD OUT | −255.0K | 0 | −$4M | $0 |
| BDNBRANDYWINE RLTY TR | ADDED | +1.06M | 3.74M | +$2M | $10M |
| GTGOODYEAR TIRE & RUBR CO | ADDED | +360.0K | 2.04M | −$1M | $14M |
| ASTLALGOMA STL GROUP INC | ADDED | +295.0K | 1.76M | +$1M | $7M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q1 2026
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | VETVERMILION ENERGY INChistory → | COM | 22.58% | $43M | 3.16M |
| 2 | GTEGRAN TIERRA ENERGY INChistory → | COM | 18.87% | $36M | 4.05M |
| 3 | LUMNLUMEN TECHNOLOGIES INChistory → | COM | 17.91% | $34M | 4.96M |
| 4 | TSATTELESAT CORPhistory → | CL A & CL B SHS | 7.18% | $14M | 382.6K |
| 5 | GTGOODYEAR TIRE & RUBR COhistory → | COM | 7.03% | $14M | 2.04M |
| 6 | BDNBRANDYWINE RLTY TRhistory → | SH BEN INT NEW | 5.27% | $10M | 3.74M |
| 7 | ASTLALGOMA STL GROUP INChistory → | COM | 3.79% | $7M | 1.76M |
| 8 | GPKGRAPHIC PACKAGING HLDG COhistory → | COM | 1.86% | $4M | 360.0K |
| 9 | CMTGEURCLAROS MTG TR INChistory → | COMMON STOCK | 1.73% | $3M | 1.40M |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $192M | 10 | May 11, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $126M | 11 | Feb 13, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $132M | 11 | Nov 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $108M | 11 | Aug 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $97M | 10 | May 15, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $109M | 10 | Feb 20, 2025 | 13F-HR | changes · EDGAR ↗ |
13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.