CIK: 0001056527
Total reported value
$20.8B
Reporting period: 2025-12-31 · Number of holdings: 1236
CIBC WORLD MARKETS CORP disclosed 1236 holdings in its latest 13F filing for the period ending 2025-12-31, with total reported value of $20.8B and a quarterly turnover rate of 59.5%.
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Cibc World Markets CORP's disclosed holdings carry a Herfindahl concentration index of 0.025 — mathematically equivalent to about 40 equally-sized positions, well below its 1236 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 5.46), 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.
Sector classification currently covers about 63% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Add FLUT
+105989.3% $1.7B
Trim MSFT
-2.9% $130.3M
Add MA
+71.7% $388.5M
Trim IYR
-6.1% -$44.8M
Trim SPY
-$147.5M
Add MU
+309.3% $245.6M
CIBC World Markets is hunting Alpha through a high-velocity momentum rotation: trimming NVDA and GOOGL to reload into FLUT, MA, JPM, AVGO, and MU, with a new tactical GLD hedge. This is a deliberate factor bet, not a passive rebalancing — the 59% turnover and 100th percentile momentum tilt confirm active capital chasing continuation.
With 42% in Information Technology and fresh adds in Financials (JPM) and Payments (MA), the portfolio is priced for a 'no landing' regime where AI-led growth and steep yield curves persist. But the GLD initiation betrays a second thesis: currency debasement or stagflation insurance. The opposing view is that extreme factor crowding (100th %ile momentum) and late-cycle rotation into gold signal fragility — a liquidity event or earnings miss would trigger simultaneous unwinds.
A 100th percentile momentum score leaves CIBC structurally exposed to a mean-reversion cascade — when the trend flips, every directional bet locks together. The 8% FLUT position, built from near-zero in one quarter, is a concentrated consensus wager on online gambling; any regulatory clampdown or competitive margin squeeze could produce a position-sizing shock that the broader diversification (1,234 holdings) cannot mask.
AI-assisted summary drawn from public regulatory disclosures, covering historical data only. Not a substitute for professional investment advice.
Showing top 200 holdings (of 1236 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | NVDA | Nvidia CORP | Stock-Tech | 8.37% | +0.11% | +0.37% | |
| 2 | FLUT | Flutter Entertainment plc | Stock-Consumer Disc | 8.08% | +8.07% | +105989.25% | |
| 3 | MSFT | Microsoft CORP | Stock-Tech | 5.94% | -2.74% | -2.90% | |
| 4 | AAPL | Apple INC | Stock-Tech | 3.64% | -1.13% | -24.81% | |
| 5 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 3.55% | +0.51% | +17.72% | |
| 6 | AMZN | Amazon.com INC | Stock-Consumer Disc | 2.93% | -0.81% | -4.91% | |
| 7 | MA | Mastercard INC - A | Stock-Financials | 2.39% | +1.53% | +71.75% | |
| 8 | JPM | Jpmorgan Chase & Co | Stock-Financials | 2.23% | +0.99% | +119.02% | |
| 9 | META | Meta Platforms Inc-class A | Stock-Comm Services | 2.15% | +0.01% | +1.53% | |
| 10 | AVGO | Broadcom INC | Stock-Tech | 1.71% | +0.98% | -14.41% | |
| 11 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 1.57% | +0.66% | +12.88% | |
| 12 | IYR | Ishares US Real Estate ETF | ETF-Other | 1.55% | -1.34% | -6.08% | |
| 13 | TSLA | Tesla INC | Stock-Consumer Disc | 1.35% | +0.09% | -3.36% | |
| 14 | MU | Micron Technology INC | Stock-Tech | 1.24% | +1.15% | +309.28% | |
| 15 | CTSH | Cognizant Tech Solutions-a | Stock-Tech | 1.13% | — | -5.67% | |
| 16 | HON | Honeywell International INC | Stock-Industrials | 1.06% | +0.05% | +563.08% | |
| 17 | GLD | SPDR Gold Shares | ETF-Commodities | 1.05% | +1.05% | NEW | |
| 18 | V | Visa Inc-class A Shares | Stock-Financials | 0.96% | — | -5.09% | |
| 19 | KLAC | Kla CORP | Stock-Tech | 0.89% | +0.80% | +486.73% | |
| 20 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 0.84% | — | +11.50% | |
| 21 | COST | Costco Wholesale CORP | Stock-Consumer Staples | 0.80% | — | +32.65% | |
| 22 | C | Citigroup INC | Stock-Financials | 0.79% | +0.24% | +47.23% | |
| 23 | KVUE | Kenvue INC | Stock-Consumer Staples | 0.78% | +0.65% | +3792.62% | |
| 24 | LIN | Linde plc | Stock-Materials | 0.77% | — | -14.86% | |
| 25 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.72% | -0.08% | +15.08% | |
| 26 | NFLX | Netflix INC | Stock-Comm Services | 0.70% | +0.15% | +1325.44% | |
| 27 | LLY | Eli Lilly & Co | Stock-Healthcare | 0.68% | +0.06% | +30.96% | |
| 28 | AAPL | Apple Inc. | Stock-Tech | 0.67% | +0.67% | +1989.80% | |
| 29 | BOKF | Bok Financial Corporation | Stock-Other | 0.63% | — | — | |
| 30 | CAR | Avis Budget Group INC | Stock-Other | 0.61% | +0.61% | NEW | |
| 31 | QCOM | Qualcomm INC | Stock-Tech | 0.59% | — | -2.12% | |
| 32 | PG | Procter & Gamble Co/the | Stock-Consumer Staples | 0.55% | — | +30.81% | |
| 33 | WMT | Walmart INC | Stock-Consumer Staples | 0.51% | — | +61.94% | |
| 34 | BKNG | Booking Holdings INC | Stock-Consumer Disc | 0.48% | +0.21% | +99.08% | |
| 35 | BAC | Bank Of America CORP | Stock-Financials | 0.46% | +0.19% | +105.99% | |
| 36 | PLTR | Palantir Technologies Inc-a | Stock-Tech | 0.44% | +0.27% | +20.71% | |
| 37 | TER | Teradyne INC | Stock-Tech | 0.44% | +0.43% | +2248.56% | |
| 38 | HD | Home Depot INC | Stock-Consumer Disc | 0.41% | — | +5.50% | |
| 39 | CEG | Constellation Energy | Stock-Utilities | 0.40% | +0.34% | +283.94% | |
| 40 | COF | Capital One Financial CORP | Stock-Financials | 0.39% | +0.33% | +315.33% | |
| 41 | PEP | Pepsico INC | Stock-Consumer Staples | 0.39% | +0.05% | +106.50% | |
| 42 | ABBV | Abbvie INC | Stock-Healthcare | 0.37% | +0.02% | +50.21% | |
| 43 | UNH | Unitedhealth Group INC | Stock-Healthcare | 0.36% | -0.82% | -20.59% | |
| 44 | AMD | Advanced Micro Devices | Stock-Tech | 0.36% | +0.20% | +9.99% | |
| 45 | CSCO | Cisco Systems INC | Stock-Tech | 0.36% | +0.11% | +16.22% | |
| 46 | XOM | Exxon Mobil CORP | Stock-Energy | 0.35% | — | +12.62% | |
| 47 | AMT | American Tower CORP | Stock-Real Estate | 0.32% | — | +107.32% | |
| 48 | ICE | Intercontinental Exchange In | Stock-Financials | 0.31% | +0.06% | +90.19% | |
| 49 | SLV | iShares Silver Trust | ETF-Commodities | 0.31% | +0.31% | +55.66% | |
| 50 | KO | Coca-cola Co/the | Stock-Consumer Staples | 0.29% | — | +60.93% |
Performance for Q3 2026
+3.2%
Performance Last 4 Quarters
+21.2%
Based on 79% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2025-12-31 | 1236 | $20.8B | 60 | |
| 2025-06-30 | 1554 | $15.9B | 0 | |
| 2025-03-31 | 1847 | $12.7B | 100 | |
| 2024-12-31 | 1328 | $17.1B | 0 | |
| 2024-09-30 | 715 | $13.9B | 0 | |
| 2024-06-30 | 699 | $15.3B | 0 | |
| 2024-03-31 | 794 | $15.3B | 0 | |
| 2023-12-31 | 744 | $18.3B | 0 | |
| 2023-09-30 | 616 | $10.2B | 0 | |
| 2023-06-30 | 586 | $12.3B | 0 | |
| 2023-03-31 | 652 | $6.1B | 0 | |
| 2022-12-31 | 678 | $14.9B | 0 | |
| 2022-09-30 | 554 | $7.2B | 0 | |
| 2022-06-30 | 610 | $10.6B | 0 | |
| 2022-03-31 | 626 | $12.8B | 0 | |
| 2021-12-31 | 613 | $18.8B | 0 | |
| 2021-09-30 | 615 | $14.7B | 0 | |
| 2021-06-30 | 615 | $14.4B | 100 | |
| 2021-03-31 | 998 | $16.0B | 48 | |
| 2020-12-31 | 635 | $19.9B | 95 | |
| 2020-09-30 | 577 | $10.3B | 45 | |
| 2020-06-30 | 569 | $9.3B | 50 | |
| 2020-03-31 | 585 | $7.8B | 91 | |
| 2019-12-31 | 752 | $15.4B | 73 | |
| 2019-09-30 | 657 | $10.7B | 57 | |
| 2019-06-30 | 678 | $13.0B | 63 | |
| 2019-03-31 | 644 | $12.2B | 74 | |
| 2018-12-31 | 606 | $10.7B | 75 | |
| 2018-09-30 | 645 | $11.7B | 69 | |
| 2018-06-30 | 683 | $11.6B | 72 | |
| 2018-03-31 | 644 | $9.4B | 71 | |
| 2017-12-31 | 646 | $13.9B | 58 | |
| 2017-09-30 | 622 | $10.4B | 52 | |
| 2017-06-30 | 641 | $9.5B | 82 | |
| 2017-03-31 | 615 | $12.3B | 77 | |
| 2016-12-31 | 594 | $9.8B | 100 | |
| 2016-09-30 | 278 | $5.3B | 100 | |
| 2016-06-30 | 224 | $3.9B | 100 | |
| 2016-03-31 | 228 | $4.6B | 100 | |
| 2015-12-31 | 242 | $4.9B | 100 | |
| 2015-09-30 | 247 | $3.7B | 100 | |
| 2015-06-30 | 196 | $23.7B | 0 | |
| 2015-03-31 | 70 | $1.6B | 100 | |
| 2014-12-31 | 67 | $2.0B | 100 | |
| 2014-09-30 | 48 | $266.4M | 96 | |
| 2014-06-30 | 52 | $243.7M | 83 | |
| 2014-03-31 | 35 | $128.8M | 100 | |
| 2013-12-31 | 48 | $201.8M | 0 |
Cibc World Markets CORP's most significant position changes for 2025-12-31: New buy: SPDR Gold Shares (GLD); New buy: Avis Budget Group INC (CAR); Sold out: Ishares Tr; New buy: Lam Research CORP (LRCX); New buy: nVent Electric plc (NVT).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | FLUT | Flutter Entertainment plc | +8.1% | +105989.25% | Add |
| 2 | MA | Mastercard INC - A | +1.5% | +71.75% | Add |
| 3 | MU | Micron Technology INC | +1.2% | +309.28% | Add |
| 4 | JPM | Jpmorgan Chase & Co | +1% | +119.02% | Add |
| 5 | AVGO | Broadcom INC | +1% | -14.41% | Add |
| 6 | KLAC | Kla CORP | +0.8% | +486.73% | Add |
| 7 | AAPL | Apple Inc. | +0.7% | +1989.80% | Add |
| 8 | GOOG | Alphabet Inc-cl C | +0.7% | +12.88% | Add |
| 9 | KVUE | Kenvue INC | +0.7% | +3792.62% | Add |
| 10 | GOOGL | Alphabet Inc-cl A | +0.5% | +17.72% | Trim |
| 11 | TER | Teradyne INC | +0.4% | +2248.56% | Add |
| 12 | CEG | Constellation Energy | +0.3% | +283.94% | Add |
| 13 | COF | Capital One Financial CORP | +0.3% | +315.33% | Add |
| 14 | SLV | iShares Silver Trust | +0.3% | +55.66% | Add |
| 15 | PLTR | Palantir Technologies Inc-a | +0.3% | +20.71% | Add |
| 16 | C | Citigroup INC | +0.2% | +47.23% | Add |
| 17 | NEOG | Neogen CORP | +0.2% | +25371.13% | Add |
| 18 | BKNG | Booking Holdings INC | +0.2% | +99.08% | Add |
| 19 | AMD | Advanced Micro Devices | +0.2% | +9.99% | Add |
| 20 | REXR | Rexford Industrial Realty In | +0.2% | +105.80% | Add |
| 21 | BAC | Bank Of America CORP | +0.2% | +105.99% | Add |
| 22 | NCLH | Norwegian Cruise Line Holdings Ltd. | +0.2% | +1862.90% | Add |
| 23 | NFLX | Netflix INC | +0.2% | +1325.44% | Add |
| 24 | APP | Applovin Corp-class A | +0.2% | +62.15% | Add |
| 25 | LMT | Lockheed Martin CORP | +0.1% | +275.62% | Add |
| 26 | AMAT | Applied Materials INC | +0.1% | +21.89% | Add |
| 27 | NVDA | Nvidia CORP | +0.1% | +0.37% | Trim |
| 28 | CSCO | Cisco Systems INC | +0.1% | +16.22% | Add |
| 29 | TSLA | Tesla INC | +0.1% | -3.36% | Add |
| 30 | LLY | Eli Lilly & Co | +0.1% | +30.96% | Add |
| 31 | ICE | Intercontinental Exchange In | +0.1% | +90.19% | Add |
| 32 | HON | Honeywell International INC | +0.1% | +563.08% | Add |
| 33 | PEP | Pepsico INC | +0.1% | +106.50% | Add |
| 34 | ABBV | Abbvie INC | 0% | +50.21% | Add |
| 35 | META | Meta Platforms Inc-class A | 0% | +1.53% | Add |
| 36 | JNJ | Johnson & Johnson | -0.1% | +15.08% | Add |
| 37 | GILD | Gilead Sciences INC | -0.4% | -3.77% | Trim |
| 38 | CCI | Crown Castle INC | -0.7% | -69.54% | Trim |
| 39 | AMZN | Amazon.com INC | -0.8% | -4.91% | Add |
| 40 | UNH | Unitedhealth Group INC | -0.8% | -20.59% | Trim |
| 41 | AAPL | Apple INC | -1.1% | -24.81% | Add |
| 42 | SPY | Ss Spdr S&p 500 ETF Trust-us | -1.2% | — | Trim |
| 43 | IYR | Ishares US Real Estate ETF | -1.3% | -6.08% | Trim |
| 44 | MSFT | Microsoft CORP | -2.7% | -2.90% | Trim |
| 45 | GLD | SPDR Gold Shares | — | NEW | New buy |
| 46 | CAR | Avis Budget Group INC | — | NEW | New buy |
| 47 | ✓ | Ishares Tr | — | EXIT | Sold out |
| 48 | LRCX | Lam Research CORP | — | NEW | New buy |
| 49 | NVT | nVent Electric plc | — | NEW | New buy |
| 50 | ANET | Arista Networks INC | — | NEW | New buy |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2025-12-31 | 2026-02-12 | 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 | 2025-02-10 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-13 | 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 | 2024-02-13 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-13 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-04 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-11 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-09 | 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 | 2022-05-13 | 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 | 2021-08-10 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-05-07 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-02-12 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-11-12 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-08-12 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-05-12 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-02-13 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-11-12 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-08-13 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-05-14 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-02-13 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-02-13 | Amendment | View on EDGAR |
| 2018-09-30 | 2018-11-13 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-08-13 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-05-11 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-02-13 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-11-14 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-08-11 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-05-10 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-02-13 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2016-11-14 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-08-11 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-05-12 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-02-10 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2015-11-16 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2015-11-20 | Amendment | View on EDGAR |
| 2015-06-30 | 2015-08-19 | Amendment | View on EDGAR |
| 2015-06-30 | 2015-08-14 | Amendment | View on EDGAR |
| 2015-06-30 | 2015-08-13 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2015-05-14 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2015-02-13 | 13F-HR | View on EDGAR |
| 2014-09-30 | 2014-11-12 | 13F-HR | View on EDGAR |
| 2014-06-30 | 2014-08-13 | 13F-HR | View on EDGAR |
| 2014-03-31 | 2014-05-13 | 13F-HR | View on EDGAR |
| 2013-12-31 | 2014-02-12 | 13F-HR | View on EDGAR |
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