Agf Management LTD
Reported US equity positions for Q1 2026 — $22.3B across 1,025 positions.
| Holding | Reported value | Share of portfolio | Shares |
|---|---|---|---|
| NVDA NVIDIA Corporation | $980.5M | 4.4% | 5,622,319 |
| GOOGL Alphabet Inc. | $781.8M | 3.5% | 2,718,601 |
| AMZN Amazon.com, Inc. | $651.0M | 2.9% | 3,125,731 |
| G54950103 Linde PLC | $449.4M | 2.0% | 906,450 |
| RY Royal Bank Of Canada | $440.2M | 2.0% | 2,435,954 |
| ABBV AbbVie Inc. | $423.7M | 1.9% | 1,948,120 |
| AVGO Broadcom Inc. | $412.4M | 1.8% | 1,332,543 |
| WMT Walmart Inc. | $410.6M | 1.8% | 3,303,460 |
| META Meta Platforms, Inc. | $357.8M | 1.6% | 625,438 |
| VLO Valero Energy Corporation | $356.1M | 1.6% | 1,441,418 |
| GLW Corning Incorporated | $319.4M | 1.4% | 2,349,146 |
| AMAT Applied Materials, Inc. | $297.1M | 1.3% | 869,164 |
| LHX L3Harris Technologies, Inc. | $294.9M | 1.3% | 854,349 |
| TD The Toronto Dominion Bank | $290.7M | 1.3% | 2,640,523 |
| XLK State Street Technology Select Sector SPDR ETF | $286.8M | 1.3% | 2,157,884 |
| AEM Agnico Eagle Mines Limited | $283.7M | 1.3% | 1,397,622 |
| MSFT Microsoft Corporation | $274.9M | 1.2% | 742,682 |
| GS The Goldman Sachs Group, Inc. | $274.5M | 1.2% | 324,466 |
| CCO Clear Channel Outdoor Holdings, Inc. | $271.3M | 1.2% | 2,496,212 |
| LLY Eli Lilly and Company | $250.2M | 1.1% | 272,048 |
| HLT Hilton Worldwide Holdings Inc. | $246.2M | 1.1% | 809,739 |
| NOC Northrop Grumman Corporation | $241.4M | 1.1% | 353,793 |
| COHR Coherent Corp. | $237.8M | 1.1% | 998,394 |
| TRGP Targa Resources, Inc. | $229.8M | 1.0% | 916,358 |
| CRC California Resources Corporation | $229.3M | 1.0% | 4,453,036 |
| SCCO Southern Copper Corporation | $219.1M | 1.0% | 1,273,626 |
| SU Suncor Energy Inc. | $216.4M | 1.0% | 2,685,549 |
| TSLA Tesla, Inc. | $214.7M | 1.0% | 577,582 |
| ISRG Intuitive Surgical, Inc. | $208.2M | 0.9% | 451,704 |
| GEV GE Vernova Inc. | $203.4M | 0.9% | 233,022 |
| CAT Caterpillar, Inc. | $202.3M | 0.9% | 285,596 |
| VTI Vanguard Morningstar Total Stock Market ETF | $194.9M | 0.9% | 607,324 |
| BIL State Street SPDR Bloomberg 1-3 Month T-Bill ETF | $187.1M | 0.8% | 2,042,049 |
| N53745100 LyondellBasell Industries NV | $186.2M | 0.8% | 2,310,951 |
| SLB SLB Limited | $185.8M | 0.8% | 3,616,450 |
| COF Capital One Financial Corporation | $181.6M | 0.8% | 995,519 |
| ENB Enbridge Inc | $181.2M | 0.8% | 3,031,740 |
| PWR Quanta Services, Inc. | $180.2M | 0.8% | 328,156 |
| HWM Howmet Aerospace Inc. | $165.2M | 0.7% | 716,844 |
| TSM Taiwan Semiconductor Manufacturing Company Ltd. | $164.1M | 0.7% | 485,639 |
| G87110105 TechnipFMC PLC | $164.1M | 0.7% | 2,373,496 |
| JNJ Johnson & Johnson | $161.1M | 0.7% | 659,225 |
| CP Canadian Pacific Kansas City Limited | $156.1M | 0.7% | 1,980,020 |
| V Visa Inc. | $149.1M | 0.7% | 493,340 |
| BAC Bank of America Corporation | $147.2M | 0.7% | 3,019,732 |
| PLTR Palantir Technologies Inc. | $145.8M | 0.7% | 996,817 |
| FTEC Fidelity MSCI Information Technology Index ETF | $141.1M | 0.6% | 678,442 |
| JPM JP Morgan Chase & Co. | $140.4M | 0.6% | 477,180 |
| AA Alcoa Corporation | $137.6M | 0.6% | 2,075,213 |
| MFC Manulife Financial Corporation | $132.9M | 0.6% | 3,446,160 |
| BN Brookfield Corporation Class A Limited Voting Shares | $132.1M | 0.6% | 3,246,823 |
| TRI4EUR Thomson Reuters Corp. | $129.9M | 0.6% | 1,437,038 |
| BKR Baker Hughes Company | $122.9M | 0.6% | 2,012,425 |
| VOO Vanguard S&P 500 ETF | $122.4M | 0.5% | 204,826 |
| TJX The TJX Companies, Inc. | $122.0M | 0.5% | 764,118 |
| ICE Intercontinental Exchange Inc. | $117.4M | 0.5% | 746,419 |
| G29183103 Eaton Corp. PLC | $116.2M | 0.5% | 324,802 |
| HOOD Robinhood Markets, Inc. | $113.4M | 0.5% | 1,635,828 |
| WCN Waste Connections, Inc. | $111.1M | 0.5% | 683,533 |
| VEA Vanguard FTSE Developed Markets ETF | $110.4M | 0.5% | 1,723,173 |
Long US equity positions only, as filed. 13F does not cover short positions, cash, bonds or non-US listings, so this is not the whole portfolio.
What changed last quarter
| Holding | Change | Now | Was | Shares |
|---|---|---|---|---|
| GOOGL Alphabet Inc. | Add | $781.8M | $840.4M | +1% |
| AMZN Amazon.com, Inc. | Add | $651.0M | $663.9M | +9% |
| G54950103 Linde PLC | Add | $449.4M | $83.4M | +363% |
| RY Royal Bank Of Canada | Add | $440.2M | $456.4M | +2% |
| ABBV AbbVie Inc. | Trim | $423.7M | $454.0M | -2% |
| AVGO Broadcom Inc. | Trim | $412.4M | $689.0M | -33% |
| WMT Walmart Inc. | Add | $410.6M | $364.1M | +1% |
| META Meta Platforms, Inc. | Trim | $357.8M | $486.6M | -15% |
| VLO Valero Energy Corporation | Trim | $356.1M | $269.7M | -13% |
| GLW Corning Incorporated | Add | $319.4M | $194.6M | +6% |
| AMAT Applied Materials, Inc. | Add | $297.1M | $217.2M | +3% |
| LHX L3Harris Technologies, Inc. | Trim | $294.9M | $453.8M | -45% |
| TD The Toronto Dominion Bank | Trim | $290.7M | $331.0M | -13% |
| XLK State Street Technology Select Sector SPDR ETF | Trim | $286.8M | $331.9M | -6% |
| AEM Agnico Eagle Mines Limited | Add | $283.7M | $151.3M | +57% |
| MSFT Microsoft Corporation | Add | $274.9M | $307.1M | +17% |
| GS The Goldman Sachs Group, Inc. | Trim | $274.5M | $514.3M | -45% |
| CCO Clear Channel Outdoor Holdings, Inc. | Add | $271.3M | $210.5M | +9% |
| LLY Eli Lilly and Company | Add | $250.2M | $92.2M | +217% |
| HLT Hilton Worldwide Holdings Inc. | Add | $246.2M | $227.2M | +2% |
| NOC Northrop Grumman Corporation | Trim | $241.4M | $238.5M | -15% |
| COHR Coherent Corp. | Add | $237.8M | $26.6M | +592% |
| CRC California Resources Corporation | Trim | $229.3M | $173.4M | -9% |
| SU Suncor Energy Inc. | Add | $216.4M | $139.6M | +5% |
| TSLA Tesla, Inc. | Add | $214.7M | $255.0M | +2% |
| ISRG Intuitive Surgical, Inc. | Add | $208.2M | $250.7M | +2% |
| VTI Vanguard Morningstar Total Stock Market ETF | Trim | $194.9M | $209.1M | -3% |
| BIL State Street SPDR Bloomberg 1-3 Month T-Bill ETF | Add | $187.1M | $130.5M | +43% |
| COF Capital One Financial Corporation | Add | $181.6M | $204.0M | +18% |
| ENB Enbridge Inc | Trim | $181.2M | $164.0M | -3% |
| PWR Quanta Services, Inc. | Add | $180.2M | $92.7M | +49% |
| HWM Howmet Aerospace Inc. | Add | $165.2M | $141.9M | +4% |
| JNJ Johnson & Johnson | Add | $161.1M | $118.5M | +15% |
| CP Canadian Pacific Kansas City Limited | Trim | $156.1M | $184.3M | -21% |
| V Visa Inc. | Trim | $149.1M | $208.5M | -17% |
| BAC Bank of America Corporation | Trim | $147.2M | $443.2M | -63% |
| FTEC Fidelity MSCI Information Technology Index ETF | Add | $141.1M | $146.8M | +4% |
| JPM JP Morgan Chase & Co. | Trim | $140.4M | $171.3M | -10% |
| MFC Manulife Financial Corporation | Trim | $132.9M | $150.8M | -8% |
| BN Brookfield Corporation Class A Limited Voting Shares | Add | $132.1M | $98.3M | +53% |
New and exited positions are only shown for managers whose entire filed portfolio fits inside the positions stored here. For a manager filing more than that, a holding leaving the stored set is indistinguishable from a holding being sold, so those are reported as adds and trims only.
What a 13F is
Any institutional manager exercising discretion over more than $100 million in US-listed equities must file a Form 13F with the SEC within 45 days of each quarter end, listing what they held on the last day of that quarter. The threshold was set in 1975 and has never been raised, so the filer population now runs to several thousand.
The four things it does not tell you
- It is stale. A filing describes positions as of quarter end and can arrive 45 days later. A manager who sold everything in week one of the new quarter files the same document as one who held.
- Long US equities only. No short positions, no cash, no bonds, no commodities, no foreign listings. A fund that looks heavily long in a 13F may be hedged in instruments that never appear.
- Not the whole firm. Assets are reported by the entity with discretion, so one manager can file under several CIKs, and the figure here is what that entity reported.
- Confidential treatment exists. A manager can apply to delay disclosing a position while building it. Those holdings appear later, if at all.
Why the biggest filers are not the interesting ones
The largest managers by reported value are index providers — they hold nearly everything, in proportion to the indices they track, because clients asked them to. Reading their filings for conviction is a category error. The filings worth attention are concentrated ones, where a small number of positions make up most of the portfolio, since that reflects a decision rather than a mandate.
The share-of-portfolio column is the one to read for this. A position that is 15% of a fund says something; the same dollar amount at 0.2% of an index tracker does not.
Where this comes from
The SEC's own quarterly Form 13F structured data sets, parsed here rather than bought from a vendor. Holdings are identified in the filings by CUSIP, and the mapping from CUSIP to ticker is the awkward part — that identifier is licensed rather than public, so the mapping is resolved through OpenFIGI and built up over time. Around 95% of reported value currently sits on a resolved ticker; the rest shows its CUSIP.
The rest of the section is on the Markets overview — including insider transactions, which are the same idea at the individual level, and the correlation finder, where each ticker's page carries its institutional ownership.