CIK: 0001163648
Total reported value
$20.6B
Reporting period: 2026-03-31 · Number of holdings: 646
CI INVESTMENTS INC. disclosed 646 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $20.6B and a quarterly turnover rate of 30.2%.
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Ci Investments INC.'s disclosed holdings carry a Herfindahl concentration index of 0.016 — mathematically equivalent to about 62 equally-sized positions, well below its 646 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 2.98), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Trim MSFT
-19.1% -$491.0M
Trim UNH
-62.9% -$175.6M
Trim BKNG
-55.2% -$135.5M
Trim CEG
-82.7% -$95.5M
Add COST
+408.0% $82.0M
Trim META
-10.0% -$142.7M
CI INVESTMENTS is rotating capital from high-conviction mega-cap growth into duration, telegraphing a defensive posture. The aggressive trims on MSFT, UNH, BKNG and the initiation of BWX signal a deliberate shift from equity beta to rate sensitivity — this is not profit-taking, it is a regime hedge.
The portfolio is pricing in a macro regime where growth slows and the Fed cuts aggressively — hence the build in long-duration Treasuries. The opposing thesis is that sticky inflation keeps rates elevated, crushing the long bond position while equities grind higher — a dilemma for this rotation.
With a momentum_contrarian score of 100.0, CI INVESTMENTS is all-in on factor crowding. If the momentum trade unwinds violently, the simultaneous trimming of winners won't protect a 613-name portfolio that's essentially replicated the market in tech — this is reflexivity risk disguised as diversification.
Compiled by AI from public 13F filings; reflects historical positioning only and carries no investment recommendation.
Showing top 200 holdings (of 646 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | NVDA | Nvidia CORP | Stock-Tech | 6.30% | +0.22% | +0.17% | |
| 2 | AMZN | Amazon.com INC | Stock-Consumer Disc | 4.59% | -0.15% | -2.83% | |
| 3 | MSFT | Microsoft CORP | Stock-Tech | 3.87% | -1.78% | -19.07% | |
| 4 | IVV | Ishares Core S&p 500 ETF | ETF-Large Cap & Growth | 3.37% | — | — | |
| 5 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 3.27% | -0.34% | -10.50% | |
| 6 | AAPL | Apple INC | Stock-Tech | 2.87% | +0.06% | -1.15% | |
| 7 | AVGO | Broadcom INC | Stock-Tech | 2.64% | — | +9.72% | |
| 8 | META | Meta Platforms Inc-class A | Stock-Comm Services | 2.45% | -0.39% | -10.04% | |
| 9 | MA | Mastercard INC - A | Stock-Financials | 2.05% | -0.02% | +2.22% | |
| 10 | LLY | Eli Lilly & Co | Stock-Healthcare | 1.66% | -0.19% | -5.66% | |
| 11 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 1.53% | -0.20% | -12.71% | |
| 12 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 1.44% | — | -10.38% | |
| 13 | IEUR | Ishares Core Msci Europe ETF | ETF-Other | 1.21% | — | -6.42% | |
| 14 | WMT | Walmart INC | Stock-Consumer Staples | 1.11% | — | -1.66% | |
| 15 | DHR | Danaher CORP | Stock-Healthcare | 1.08% | — | +2.28% | |
| 16 | JPM | Jpmorgan Chase & Co | Stock-Financials | 1.06% | — | -7.86% | |
| 17 | LNG | Cheniere Energy INC | Stock-Energy | 1.04% | +0.39% | -0.45% | |
| 18 | TMO | Thermo Fisher Scientific INC | Stock-Healthcare | 1.02% | -0.37% | -21.84% | |
| 19 | BAC | Bank Of America CORP | Stock-Financials | 1.01% | — | -2.81% | |
| 20 | TRGP | Targa Resources CORP | Stock-Energy | 0.97% | +0.37% | +7.00% | |
| 21 | GEV | GE Vernova INC | Stock-Industrials | 0.89% | +0.29% | +0.20% | |
| 22 | WMB | Williams Cos INC | Stock-Energy | 0.88% | — | -0.21% | |
| 23 | AMD | Advanced Micro Devices | Stock-Tech | 0.87% | — | +6.58% | |
| 24 | EBND | State Street Spdr Bloomberg | ETF-Other | 0.83% | — | -12.47% | |
| 25 | V | Visa Inc-class A Shares | Stock-Financials | 0.78% | -0.33% | -26.30% | |
| 26 | T | At&t INC | Stock-Comm Services | 0.73% | — | -1.42% | |
| 27 | NOW | Servicenow INC | Stock-Tech | 0.72% | — | +35.49% | |
| 28 | MRK | Merck & Co. INC. | Stock-Healthcare | 0.72% | +0.26% | +24.51% | |
| 29 | VTR | Ventas INC | Stock-Real Estate | 0.72% | — | -21.42% | |
| 30 | RSP | Invesco S&p 500 Equal Weight | ETF-Large Cap & Growth | 0.70% | — | +6.80% | |
| 31 | BWX | State Street Spdr Bloomberg | ETF-Other | 0.69% | +0.69% | NEW | |
| 32 | EQIX | Equinix INC | Stock-Real Estate | 0.68% | — | +3.37% | |
| 33 | LYV | Live Nation Entertainment In | Stock-Comm Services | 0.67% | — | -11.23% | |
| 34 | BN | Brookfield CORP | Stock-Financials | 0.67% | -0.20% | -20.72% | |
| 35 | NEE | Nextera Energy INC | Stock-Utilities | 0.66% | +0.37% | +81.09% | |
| 36 | PLD | Prologis INC | Stock-Real Estate | 0.65% | — | -0.33% | |
| 37 | C | Citigroup INC | Stock-Financials | 0.63% | — | -2.18% | |
| 38 | KKR | Kkr & Co INC | Stock-Financials | 0.63% | -0.18% | -3.43% | |
| 39 | TJX | Tjx Companies INC | Stock-Consumer Disc | 0.63% | — | -1.13% | |
| 40 | TIP | Ishares Tips Bond ETF | ETF-Other | 0.62% | — | +28.68% | |
| 41 | MU | Micron Technology INC | Stock-Tech | 0.59% | — | -9.83% | |
| 42 | GLD | Spdr Gold Shares | ETF-Commodities | 0.59% | +0.34% | +96.74% | |
| 43 | BABA | Alibaba Group Holding-sp Adr | Stock-Consumer Disc | 0.58% | — | -3.21% | |
| 44 | EMB | Ishares Jp Morgan Usd Emergi | ETF-Other | 0.58% | +0.33% | +111.87% | |
| 45 | KGC | Kinross Gold CORP | Stock-Materials | 0.53% | -0.24% | -41.92% | |
| 46 | SNOW | Snowflake INC | Stock-Tech | 0.53% | — | +34.59% | |
| 47 | BRX | Brixmor Property Group INC | Stock-Real Estate | 0.52% | — | +11.68% | |
| 48 | ETR | Entergy CORP | Stock-Utilities | 0.52% | — | -19.90% | |
| 49 | IAG | Iamgold CORP | Stock-Other | 0.51% | — | -24.54% | |
| 50 | MELI | Mercadolibre INC | Stock-Consumer Disc | 0.50% | — | +8.19% |
Performance for Q3 2026
+1.9%
Performance Last 4 Quarters
+17.8%
Based on 76% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 646 | $20.6B | 30 | |
| 2025-12-31 | 678 | $22.8B | 41 | |
| 2025-09-30 | 1317 | $27.5B | 32 | |
| 2025-06-30 | 1327 | $26.7B | 0 | |
| 2025-03-31 | 1343 | $23.7B | 100 | |
| 2024-12-31 | 1343 | $26.5B | 0 | |
| 2024-09-30 | 1318 | $26.3B | 0 | |
| 2024-06-30 | 1294 | $25.4B | 0 | |
| 2024-03-31 | 1335 | $25.2B | 0 | |
| 2023-12-31 | 1312 | $19.3B | 0 | |
| 2023-09-30 | 1340 | $17.9B | 0 | |
| 2023-06-30 | 1349 | $19.8B | 0 | |
| 2023-03-31 | 1345 | $19.9B | 0 | |
| 2022-12-31 | 1377 | $19.8B | 0 | |
| 2022-09-30 | 1401 | $19.3B | 0 | |
| 2022-06-30 | 1440 | $21.4B | 0 | |
| 2022-03-31 | 1476 | $27.2B | 0 | |
| 2021-12-31 | 1452 | $29.0B | 0 | |
| 2021-09-30 | 1461 | $26.9B | 0 | |
| 2021-06-30 | 1084 | $27.3B | 93 | |
| 2021-03-31 | 1060 | $23.7B | 31 | |
| 2020-12-31 | 1011 | $22.7B | 35 | |
| 2020-09-30 | 981 | $20.1B | 27 | |
| 2020-06-30 | 662 | $18.8B | 37 | |
| 2020-03-31 | 602 | $16.5B | 52 | |
| 2019-12-31 | 638 | $19.7B | 26 | |
| 2019-09-30 | 623 | $19.4B | 32 | |
| 2019-06-30 | 336 | $18.0B | 29 | |
| 2019-03-31 | 354 | $17.8B | 34 | |
| 2018-12-31 | 402 | $15.5B | 100 | |
| 2018-09-30 | 291 | $13.4B | 0 | |
| 2018-06-30 | 282 | $12.7B | 67 | |
| 2018-03-31 | 196 | $8.7B | 49 | |
| 2017-12-31 | 200 | $9.8B | 41 | |
| 2017-09-30 | 204 | $10.2B | 40 | |
| 2017-06-30 | 184 | $9.2B | 29 | |
| 2017-03-31 | 193 | $8.8B | 38 | |
| 2016-12-31 | 205 | $9.1B | 44 | |
| 2016-09-30 | 212 | $9.2B | 100 | |
| 2016-06-30 | 173 | $8.2B | 0 | |
| 2016-03-31 | 187 | $7.8B | 38 | |
| 2015-12-31 | 179 | $7.8B | 32 | |
| 2015-09-30 | 180 | $7.7B | 36 | |
| 2015-06-30 | 183 | $9.0B | 38 | |
| 2015-03-31 | 178 | $9.5B | 40 | |
| 2014-12-31 | 174 | $8.9B | 29 | |
| 2014-09-30 | 180 | $9.6B | 29 | |
| 2014-06-30 | 179 | $10.1B | 48 | |
| 2014-03-31 | 191 | $9.5B | 39 | |
| 2013-12-31 | 180 | $9.1B | 30 | |
| 2013-09-30 | 187 | $8.9B | 27 | |
| 2013-06-30 | 182 | $9.2B | 0 |
Ci Investments INC.'s most significant position changes for 2026-03-31: New buy: State Street Spdr Bloomberg (BWX); Sold out: Brookfield Business Corporation (BBUC); New buy: Amer Sports, Inc. (AS); Sold out: Hdfc Bank Ltd-adr (HDB); Sold out: Ishares Russell 2000 ETF (IWM).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | COST | Costco Wholesale CORP | +0.4% | +408.00% | Add |
| 2 | LNG | Cheniere Energy INC | +0.4% | -0.45% | Trim |
| 3 | NEE | Nextera Energy INC | +0.4% | +81.09% | Add |
| 4 | TRGP | Targa Resources CORP | +0.4% | +7.00% | Add |
| 5 | GLD | Spdr Gold Shares | +0.3% | +96.74% | Add |
| 6 | EMB | Ishares Jp Morgan Usd Emergi | +0.3% | +111.87% | Add |
| 7 | PANW | Palo Alto Networks INC | +0.3% | +568.04% | Add |
| 8 | GEV | GE Vernova INC | +0.3% | +0.20% | Add |
| 9 | RTX | Rtx CORP | +0.3% | +3270.61% | Add |
| 10 | IEFA | Ishares Core Msci Eafe ETF | +0.3% | +189.72% | Add |
| 11 | MRK | Merck & Co. INC. | +0.3% | +24.51% | Add |
| 12 | NVDA | Nvidia CORP | +0.2% | +0.17% | Add |
| 13 | SLB | Slb LTD | +0.2% | +13764.99% | Add |
| 14 | HWM | Howmet Aerospace INC | +0.2% | +881.91% | Add |
| 15 | JNJ | Johnson & Johnson | +0.2% | +83.50% | Add |
| 16 | AAPL | Apple INC | +0.1% | -1.15% | Trim |
| 17 | MA | Mastercard INC - A | 0% | +2.22% | Add |
| 18 | AMZN | Amazon.com INC | -0.2% | -2.83% | Trim |
| 19 | SPY | Ss Spdr S&p 500 ETF Trust-us | -0.2% | -31.70% | Trim |
| 20 | KKR | Kkr & Co INC | -0.2% | -3.43% | Trim |
| 21 | ISRG | Intuitive Surgical INC | -0.2% | -33.11% | Trim |
| 22 | LLY | Eli Lilly & Co | -0.2% | -5.66% | Trim |
| 23 | GOOGL | Alphabet Inc-cl A | -0.2% | -12.71% | Trim |
| 24 | BN | Brookfield CORP | -0.2% | -20.72% | Trim |
| 25 | ACN | Accenture plc | -0.2% | -98.36% | Trim |
| 26 | BLK | Blackrock INC | -0.2% | -63.64% | Trim |
| 27 | HEI | Heico CORP | -0.2% | -95.39% | Trim |
| 28 | SN | SharkNinja, Inc. | -0.2% | -95.52% | Trim |
| 29 | GS | Goldman Sachs Group INC | -0.2% | -40.10% | Trim |
| 30 | KGC | Kinross Gold CORP | -0.2% | -41.92% | Trim |
| 31 | CRH | CRH plc | -0.3% | -65.53% | Trim |
| 32 | PG | Procter & Gamble Co/the | -0.3% | -62.52% | Trim |
| 33 | MCO | Moody's CORP | -0.3% | -71.56% | Trim |
| 34 | SHOP | Shopify INC - Class A | -0.3% | -65.64% | Trim |
| 35 | VICI | Vici Properties INC | -0.3% | -64.13% | Trim |
| 36 | BSX | Boston Scientific CORP | -0.3% | -42.40% | Trim |
| 37 | V | Visa Inc-class A Shares | -0.3% | -26.30% | Trim |
| 38 | GOOG | Alphabet Inc-cl C | -0.3% | -10.50% | Trim |
| 39 | TMO | Thermo Fisher Scientific INC | -0.4% | -21.84% | Trim |
| 40 | FXI | Ishares China Large-cap ETF | -0.4% | -95.09% | Trim |
| 41 | META | Meta Platforms Inc-class A | -0.4% | -10.04% | Trim |
| 42 | CEG | Constellation Energy | -0.4% | -82.73% | Trim |
| 43 | BKNG | Booking Holdings INC | -0.6% | -55.17% | Trim |
| 44 | UNH | Unitedhealth Group INC | -0.7% | -62.91% | Trim |
| 45 | MSFT | Microsoft CORP | -1.8% | -19.07% | Trim |
| 46 | BWX | State Street Spdr Bloomberg | — | NEW | New buy |
| 47 | BBUC | Brookfield Business Corporation | — | EXIT | Sold out |
| 48 | AS | Amer Sports, Inc. | — | NEW | New buy |
| 49 | HDB | Hdfc Bank Ltd-adr | — | EXIT | Sold out |
| 50 | IWM | Ishares Russell 2000 ETF | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-13 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-12 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-12 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-12 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-13 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-12 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-12 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-12 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-13 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-12 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-13 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-11 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-12 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-10 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-14 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-12 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-12 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-11 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-11-12 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-08-13 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-05-13 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-02-09 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-11-09 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-08-07 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-08-07 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-02-11 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-11-08 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-08-12 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-05-15 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-02-15 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-11-15 | Amendment | View on EDGAR |
| 2018-09-30 | 2018-11-09 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-08-14 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-05-14 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-05-14 | Amendment | View on EDGAR |
| 2017-12-31 | 2018-02-02 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2018-05-11 | Amendment | View on EDGAR |
| 2017-09-30 | 2017-11-06 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-08-10 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-05-05 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-02-06 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2016-11-04 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-08-24 | Amendment | View on EDGAR |
| 2016-06-30 | 2016-08-24 | Amendment | View on EDGAR |
| 2016-06-30 | 2016-08-05 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-05-06 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-02-05 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2015-11-12 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2015-08-12 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2015-05-08 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2015-02-05 | 13F-HR | View on EDGAR |
| 2014-09-30 | 2014-11-03 | 13F-HR | View on EDGAR |
| 2014-06-30 | 2014-08-01 | 13F-HR | View on EDGAR |
| 2014-03-31 | 2014-05-06 | 13F-HR | View on EDGAR |
| 2013-12-31 | 2014-02-05 | Amendment | View on EDGAR |
| 2013-12-31 | 2014-02-03 | 13F-HR | View on EDGAR |
| 2013-09-30 | 2013-11-01 | 13F-HR | View on EDGAR |
| 2013-06-30 | 2013-08-02 | 13F-HR | View on EDGAR |
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