CIK: 0001021926
Total reported value
$40.9B
Reporting period: 2026-03-31 · Number of holdings: 1372
CIBC Asset Management Inc disclosed 1372 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $40.9B and a quarterly turnover rate of 19.4%.
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CIBC Asset Management Inc's disclosed holdings carry a Herfindahl concentration index of 0.013 — mathematically equivalent to about 80 equally-sized positions, well below its 1372 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 4.02), 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.
Add SU
+16.0% $317.2M
Trim MSFT
+0.1% -$311.1M
Add KGC
+146.0% $256.0M
Trim BN
-18.5% -$225.3M
Add CVE
+22.0% $209.8M
Trim TD
-15.5% -$222.2M
CIBC Asset Management is not merely diversifying — it is placing a calculated bet on momentum by rotating out of financials (BN, TD) and into the soaring energy and mining sectors (SU, CVE, KGC, HBM). The action telegraphs a conviction that the commodity re-rating still has room to run, even as they trim past winners like CNQ to recycle capital into higher-octane names.
The underlying macro trade is a continuation of the 'hard asset renaissance' — a world where supply constraints, inflation stickiness, and geopolitical fragmentation keep energy and materials elevated while financials face margin compression from a flat yield curve. The opposing thesis: the consensus is already long commodities, and any whiff of a demand recession will trigger a violent mean-reversion that punishes both the resource stocks and the mega-cap tech names that dominate the portfolio's IT weighting.
For a portfolio with 1,372 holdings, the risk is not a lack of diversification but the absence of a hedge against momentum factor collapse. The perfect 100 momentum score, combined with a low 19% turnover, means CIBC is structurally late to shifts — a classic set-up for queuing risk when the trend breaks. This static momentum portfolio is particularly vulnerable to a scenario where both its commodity bets and its oversized IT allocation (21%) revert simultaneously, creating a correlation that diversification cannot solve.
Sourced and summarized by AI from public SEC filings, limited to historical activity. Not investment guidance.
Showing top 200 holdings (of 1372 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | RY | Royal Bank Of Canada | Stock-Financials | 4.14% | -0.33% | -3.30% | |
| 2 | NVDA | Nvidia CORP | Stock-Tech | 3.68% | -0.19% | +0.37% | |
| 3 | AAPL | Apple INC | Stock-Tech | 3.24% | -0.20% | -0.32% | |
| 4 | TD | Toronto-dominion Bank | Stock-Financials | 2.73% | -0.50% | -15.53% | |
| 5 | MSFT | Microsoft CORP | Stock-Tech | 2.49% | -0.72% | +0.11% | |
| 6 | BMO | Bank Of Montreal | Stock-Financials | 2.25% | +0.28% | +8.70% | |
| 7 | AEM | Agnico Eagle Mines LTD | Stock-Materials | 2.16% | +0.17% | -9.91% | |
| 8 | B | Barrick Mining CORP | Stock-Materials | 2.10% | — | +5.64% | |
| 9 | CM | Can Imperial Bk Of Commerce | Stock-Financials | 1.96% | -0.16% | -12.07% | |
| 10 | ENB | Enbridge INC | Stock-Energy | 1.92% | +0.31% | +4.52% | |
| 11 | CNQ | Canadian Natural Resources | Stock-Energy | 1.87% | +0.47% | -7.68% | |
| 12 | SU | Suncor Energy INC | Stock-Energy | 1.85% | +0.79% | +16.04% | |
| 13 | AMZN | Amazon.com INC | Stock-Consumer Disc | 1.82% | -0.21% | -1.70% | |
| 14 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 1.54% | -0.12% | -0.50% | |
| 15 | BNS | Bank Of Nova Scotia | Stock-Financials | 1.49% | -0.27% | -10.79% | |
| 16 | TRP | Tc Energy CORP | Stock-Energy | 1.42% | +0.23% | +3.98% | |
| 17 | BN | Brookfield CORP | Stock-Financials | 1.40% | -0.52% | -18.51% | |
| 18 | AVGO | Broadcom INC | Stock-Tech | 1.39% | -0.12% | +1.81% | |
| 19 | VOO | Vanguard S&p 500 ETF | ETF-Large Cap & Growth | 1.38% | — | +1.98% | |
| 20 | CP | Canadian Pacific Kansas City | Stock-Industrials | 1.27% | -0.10% | -13.93% | |
| 21 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 1.26% | -0.12% | -1.05% | |
| 22 | SHOP | Shopify INC - Class A | Stock-Tech | 1.25% | -0.42% | +0.58% | |
| 23 | META | Meta Platforms Inc-class A | Stock-Comm Services | 1.21% | -0.17% | -0.05% | |
| 24 | MFC | Manulife Financial CORP | Stock-Financials | 1.19% | -0.30% | -16.41% | |
| 25 | CVE | Cenovus Energy INC | Stock-Energy | 1.08% | +0.52% | +21.98% | |
| 26 | TSLA | Tesla INC | Stock-Consumer Disc | 1.03% | -0.14% | +5.23% | |
| 27 | KGC | Kinross Gold CORP | Stock-Materials | 1.00% | +0.63% | +145.97% | |
| 28 | CCJ | Cameco CORP | Stock-Energy | 0.96% | +0.27% | +15.58% | |
| 29 | CNI | Canadian Natl Railway Co | Stock-Industrials | 0.92% | — | +4.50% | |
| 30 | WPM | Wheaton Precious Metals CORP | Stock-Materials | 0.89% | — | -0.64% | |
| 31 | VEU | Vanguard Ftse All-world Ex-u | ETF-Other | 0.89% | — | +2.96% | |
| 32 | TECK | Teck Resources Ltd-cls B | Stock-Materials | 0.85% | +0.19% | +18.66% | |
| 33 | WMT | Walmart INC | Stock-Consumer Staples | 0.69% | +0.35% | +82.02% | |
| 34 | AGI | Alamos Gold Inc-class A | Stock-Materials | 0.68% | -0.14% | -28.05% | |
| 35 | LLY | Eli Lilly & Co | Stock-Healthcare | 0.68% | — | +2.95% | |
| 36 | GFL | Gfl Environmental Inc-sub Vt | Stock-Other | 0.62% | — | +20.25% | |
| 37 | PBA | Pembina Pipeline CORP | Stock-Energy | 0.62% | -0.17% | -34.27% | |
| 38 | JPM | Jpmorgan Chase & Co | Stock-Financials | 0.61% | — | +3.05% | |
| 39 | BIP | Brookfield Infrastructure Partners L.P. | Stock-Utilities | 0.59% | -0.13% | -21.39% | |
| 40 | XOM | Exxon Mobil CORP | Stock-Energy | 0.58% | +0.17% | -1.16% | |
| 41 | BAM | Brookfield Asset Mgmt-a | Stock-Financials | 0.58% | — | +8.85% | |
| 42 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 0.56% | — | +0.24% | |
| 43 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.54% | — | -7.32% | |
| 44 | HBM | Hudbay Minerals INC | Stock-Other | 0.52% | +0.49% | +1856.82% | |
| 45 | NFLX | Netflix INC | Stock-Comm Services | 0.51% | — | -5.52% | |
| 46 | COST | Costco Wholesale CORP | Stock-Consumer Staples | 0.51% | — | +0.91% | |
| 47 | TU | Telus CORP | Stock-Other | 0.49% | -0.10% | -15.86% | |
| 48 | MU | Micron Technology INC | Stock-Tech | 0.44% | — | -1.58% | |
| 49 | V | Visa Inc-class A Shares | Stock-Financials | 0.42% | -0.12% | -10.17% | |
| 50 | AMD | Advanced Micro Devices | Stock-Tech | 0.39% | — | +1.54% |
Performance for Q3 2026
+2.2%
Performance Last 4 Quarters
+29.4%
Based on 79% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 1372 | $40.9B | 19 | |
| 2025-12-31 | 1366 | $41.4B | 25 | |
| 2025-09-30 | 1239 | $34.5B | 28 | |
| 2025-06-30 | 1220 | $32.3B | 0 | |
| 2025-03-31 | 1179 | $30.1B | 100 | |
| 2024-12-31 | 1219 | $30.5B | 0 | |
| 2024-09-30 | 1212 | $30.8B | 0 | |
| 2024-06-30 | 1146 | $28.1B | 0 | |
| 2024-03-31 | 1129 | $28.8B | 0 | |
| 2023-12-31 | 1099 | $26.8B | 0 | |
| 2023-09-30 | 1046 | $24.1B | 0 | |
| 2023-06-30 | 1099 | $26.1B | 0 | |
| 2023-03-31 | 1065 | $25.2B | 0 | |
| 2022-12-31 | 1062 | $23.8B | 0 | |
| 2022-09-30 | 1250 | $22.8B | 0 | |
| 2022-06-30 | 1269 | $24.7B | 0 | |
| 2022-03-31 | 1519 | $28.5B | 0 | |
| 2021-12-31 | 1536 | $27.3B | 0 | |
| 2021-09-30 | 1453 | $24.8B | 0 | |
| 2021-06-30 | 1362 | $24.7B | 100 | |
| 2021-03-31 | 1328 | $23.5B | 18 | |
| 2020-12-31 | 1237 | $21.3B | 22 | |
| 2020-09-30 | 1118 | $19.6B | 19 | |
| 2020-06-30 | 1085 | $17.0B | 28 | |
| 2020-03-31 | 1023 | $14.1B | 38 | |
| 2019-12-31 | 1184 | $17.7B | 12 | |
| 2019-09-30 | 1125 | $17.0B | 13 | |
| 2019-06-30 | 1135 | $16.7B | 15 | |
| 2019-03-31 | 1108 | $16.1B | 25 | |
| 2018-12-31 | 1047 | $13.6B | 23 | |
| 2018-09-30 | 1141 | $16.2B | 12 | |
| 2018-06-30 | 1131 | $16.0B | 13 | |
| 2018-03-31 | 1061 | $15.4B | 19 | |
| 2017-12-31 | 1068 | $16.3B | 15 | |
| 2017-09-30 | 1040 | $16.0B | 15 | |
| 2017-06-30 | 984 | $14.5B | 20 | |
| 2017-03-31 | 968 | $14.6B | 12 | |
| 2016-12-31 | 957 | $13.9B | 13 | |
| 2016-09-30 | 959 | $13.6B | 12 | |
| 2016-06-30 | 953 | $13.3B | 16 | |
| 2016-03-31 | 943 | $13.4B | 16 | |
| 2015-12-31 | 924 | $12.1B | 12 | |
| 2015-09-30 | 931 | $12.5B | 18 | |
| 2015-06-30 | 976 | $14.4B | 11 | |
| 2015-03-31 | 966 | $14.1B | 15 | |
| 2014-12-31 | 943 | $15.0B | 17 | |
| 2014-09-30 | 975 | $16.8B | 13 | |
| 2014-06-30 | 793 | $17.6B | 11 | |
| 2014-03-31 | 1004 | $16.9B | 10 | |
| 2013-12-31 | 908 | $16.3B | 9 | |
| 2013-09-30 | 828 | $15.7B | 11 | |
| 2013-06-30 | 852 | $14.7B | — |
CIBC Asset Management Inc's most significant position changes for 2026-03-31: Sold out: Granite Real Estate Investme (GRTUF); Sold out: Ishares Mbs ETF (MBB); Add: Suncor Energy INC (SU) — shares +16.04%; Add: Microsoft CORP (MSFT) — shares +0.11%; Add: Kinross Gold CORP (KGC) — shares +145.97%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | SU | Suncor Energy INC | +0.8% | +16.04% | Add |
| 2 | KGC | Kinross Gold CORP | +0.6% | +145.97% | Add |
| 3 | CVE | Cenovus Energy INC | +0.5% | +21.98% | Add |
| 4 | HBM | Hudbay Minerals INC | +0.5% | +1856.82% | Add |
| 5 | CNQ | Canadian Natural Resources | +0.5% | -7.68% | Trim |
| 6 | WMT | Walmart INC | +0.4% | +82.02% | Add |
| 7 | ENB | Enbridge INC | +0.3% | +4.52% | Add |
| 8 | BMO | Bank Of Montreal | +0.3% | +8.70% | Add |
| 9 | CCJ | Cameco CORP | +0.3% | +15.58% | Add |
| 10 | CIGI | Colliers Intl Gr-subord Vot | +0.2% | +682.04% | Add |
| 11 | TRP | Tc Energy CORP | +0.2% | +3.98% | Add |
| 12 | EQX | Equinox Gold CORP | +0.2% | +692.89% | Add |
| 13 | TECK | Teck Resources Ltd-cls B | +0.2% | +18.66% | Add |
| 14 | PAAS | Pan American Silver CORP | +0.2% | +274.06% | Add |
| 15 | XOM | Exxon Mobil CORP | +0.2% | -1.16% | Trim |
| 16 | AEM | Agnico Eagle Mines LTD | +0.2% | -9.91% | Trim |
| 17 | CAE | Cae INC | +0.1% | +202.29% | Add |
| 18 | FSV | Firstservice CORP | +0.1% | +124.91% | Add |
| 19 | AMAT | Applied Materials INC | +0.1% | +14.18% | Add |
| 20 | LRCX | Lam Research CORP | +0.1% | +15.67% | Add |
| 21 | TFII | Tfi International INC | +0.1% | +452.12% | Add |
| 22 | QCOM | Qualcomm INC | -0.1% | -14.02% | Trim |
| 23 | CP | Canadian Pacific Kansas City | -0.1% | -13.93% | Trim |
| 24 | TU | Telus CORP | -0.1% | -15.86% | Trim |
| 25 | INTU | Intuit INC | -0.1% | -19.85% | Trim |
| 26 | NXE | Nexgen Energy LTD | -0.1% | -62.07% | Trim |
| 27 | GOOGL | Alphabet Inc-cl A | -0.1% | -0.50% | Trim |
| 28 | AVGO | Broadcom INC | -0.1% | +1.81% | Add |
| 29 | GOOG | Alphabet Inc-cl C | -0.1% | -1.05% | Trim |
| 30 | V | Visa Inc-class A Shares | -0.1% | -10.17% | Trim |
| 31 | BIP | Brookfield Infrastructure Partners L.P. | -0.1% | -21.39% | Trim |
| 32 | TSLA | Tesla INC | -0.1% | +5.23% | Add |
| 33 | AGI | Alamos Gold Inc-class A | -0.1% | -28.05% | Trim |
| 34 | CM | Can Imperial Bk Of Commerce | -0.2% | -12.07% | Trim |
| 35 | META | Meta Platforms Inc-class A | -0.2% | -0.05% | Trim |
| 36 | PBA | Pembina Pipeline CORP | -0.2% | -34.27% | Trim |
| 37 | NVDA | Nvidia CORP | -0.2% | +0.37% | Add |
| 38 | AAPL | Apple INC | -0.2% | -0.32% | Trim |
| 39 | AMZN | Amazon.com INC | -0.2% | -1.70% | Trim |
| 40 | BNS | Bank Of Nova Scotia | -0.3% | -10.79% | Trim |
| 41 | TRI4EUR | Thomson Reuters CORP | -0.3% | -38.95% | Trim |
| 42 | MFC | Manulife Financial CORP | -0.3% | -16.41% | Trim |
| 43 | RY | Royal Bank Of Canada | -0.3% | -3.30% | Trim |
| 44 | SHOP | Shopify INC - Class A | -0.4% | +0.58% | Add |
| 45 | WCN | Waste Connections INC | -0.4% | -50.47% | Trim |
| 46 | TD | Toronto-dominion Bank | -0.5% | -15.53% | Trim |
| 47 | BN | Brookfield CORP | -0.5% | -18.51% | Trim |
| 48 | MSFT | Microsoft CORP | -0.7% | +0.11% | Add |
| 49 | GRTUF | Granite Real Estate Investme | — | EXIT | Sold out |
| 50 | MBB | Ishares Mbs ETF | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-12 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-10 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-10-31 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-14 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-13 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-01-31 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-06 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-01 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-09 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-13 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-10-30 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-14 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-12 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-13 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-03 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-09 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-06 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-08 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-11-09 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-08-16 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-05-14 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-02-03 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-11-05 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-07-28 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-04-30 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-02-14 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-10-30 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-08-05 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-05-06 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-02-12 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-11-02 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-08-09 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-04-30 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-02-02 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-11-06 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-07-27 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-05-15 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-02-08 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2016-10-19 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-08-02 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-05-09 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-02-02 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2015-11-03 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2015-08-06 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2015-05-08 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2015-02-10 | 13F-HR | View on EDGAR |
| 2014-09-30 | 2014-11-05 | 13F-HR | View on EDGAR |
| 2014-06-30 | 2014-08-01 | 13F-HR | View on EDGAR |
| 2014-03-31 | 2014-05-09 | 13F-HR | View on EDGAR |
| 2013-12-31 | 2014-02-04 | 13F-HR | View on EDGAR |
| 2013-09-30 | 2013-10-29 | 13F-HR | View on EDGAR |
| 2013-06-30 | 2013-10-02 | Amendment | View on EDGAR |
| 2013-06-30 | 2013-08-09 | 13F-HR | View on EDGAR |
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