Managers / Q4 2024 · view latest →
LM Asset Management Inc.
CIK 0002057190 · 1640 - 1055 W. HASTINGS STREET, VANCOUVER, V6E 2E9 · 778-688-3813
Summary
Lm Asset Management Inc. reported $109M in U.S.-listed holdings across 10 positions for Q4 2024.
The portfolio is heavily concentrated: LUMN alone accounts for 42.8% of reported value.
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 · 91.8% · $100M
- Closed-End Fund · 6.4% · $7M
- Other · 1.8% · $2M
Quarter-over-Quarter Changes full breakdown →
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| LUMNLUMEN TECHNOLOGIES INC | NEW | +8.82M | 8.82M | +$50M | $50M |
| VETVERMILION ENERGY INC | NEW | +2.00M | 2.00M | +$19M | $19M |
| TSATTELESAT CORP | NEW | +809.2K | 809.2K | +$13M | $13M |
| AQNALGONQUIN PWR UTILS CORP | NEW | +1.90M | 1.90M | +$8M | $8M |
| GTEGRAN TIERRA ENERGY INC | NEW | +1.10M | 1.10M | +$8M | $8M |
| SPROTT PHYSICAL SILVER TR | NEW | +720.0K | 720.0K | +$7M | $7M |
| SCORPIO TANKERS INC | NEW | +40.0K | 40.0K | +$2M | $2M |
| CLWCLEARWATER PAPER CORP | NEW | +42.3K | 42.3K | +$1M | $1M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q4 2024
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | LUMNLUMEN TECHNOLOGIES INChistory → | COM | 42.85% | $47M | 8.81M |
| 2 | VETVERMILION ENERGY INChistory → | COM | 17.23% | $19M | 2.00M |
| 3 | TSATTELESAT CORPhistory → | CL A & CL B SHS | 12.18% | $13M | 809.2K |
| 4 | AQNALGONQUIN PWR UTILS CORPhistory → | COM | 7.75% | $8M | 1.90M |
| 5 | GTEGRAN TIERRA ENERGY INChistory → | COM | 7.26% | $8M | 1.10M |
| 6 | SPROTT PHYSICAL SILVER TR | TR UNIT | 6.37% | $7M | 720.0K |
| 7 | SCORPIO TANKERS INC | SHS | 1.82% | $2M | 40.0K |
| 8 | CLWCLEARWATER PAPER CORPhistory → | COM | 1.15% | $1M | 42.3K |
| 9 | SLSSOLARIS RES INC | COM NEW | 0.49% | $533,129 | 172.0K |
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 ↗.