CIK: 0001228242
Total reported value
$17.0B
Reporting period: 2026-03-31 · Number of holdings: 692
BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp disclosed 692 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $17.0B and a quarterly turnover rate of 40.3%.
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BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's disclosed holdings carry a Herfindahl concentration index of 0.017 — mathematically equivalent to about 57 equally-sized positions, well below its 692 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 3.32), 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 BG
+18388.4% $581.3M
Add CNQ
+373.4% $325.0M
Add HYG
+22.1% $201.4M
Trim MSFT
-26.8% -$365.4M
Add USHY
+33.4% $199.5M
Add TD
+77.8% $203.3M
British Columbia Investment Management is rotating capital out of mega-cap tech—trimming MSFT, NVDA, AAPL, and AMZN by roughly a full percentage point each—into a concentrated cyclical bet: a massive 3.43pp weight surge in agribusiness BG, alongside adds in energy producer CNQ, Canadian bank TD, and high-yield bonds via HYG. This is not capital preservation; it is an active Alpha hunt through sector rotation, leaning into commodities and credit while shedding the most expensive growth exposure.
The macro thesis is a regime of resilient global demand and sticky inflation, where energy, agricultural commodities, and credit seize pricing power and default risk stays compressed. The opposing bet is that the tech trims are premature: if the economy slows and rates decline, the portfolio will be left overweight cyclicals and underweight the very secular winners that would attract safe-haven flows.
The blind spot is the staggering single-name conviction on BG—a 3.43pp weight jump in a portfolio that normally scatters across 689 holdings with an HHI of 0.017. A single weather shock, trade disruption, or earnings miss in that stock becomes a disproportionately large drag, and the forced scale of the trade signals a breach of position-sizing discipline that could compound if BG's momentum fails.
This overview is machine-generated from public regulatory data and describes past filings only — it does not constitute financial advice.
Showing top 200 holdings (of 692 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | HYG | Ishr Ibx Usd Hiyld Cb Etf-ui | ETF-High Yield | 7.00% | +1.80% | +22.05% | |
| 2 | USHY | Ishares Broad Usd High Yield | ETF-High Yield | 4.92% | +1.57% | +33.43% | |
| 3 | NVDA | Nvidia CORP | Stock-Tech | 4.23% | -1.08% | -23.89% | |
| 4 | AAPL | Apple INC | Stock-Tech | 3.57% | -0.87% | -22.84% | |
| 5 | BG | Bunge Global SA | Stock-Consumer Staples | 3.44% | +3.43% | +18388.36% | |
| 6 | TD | Toronto-dominion Bank | Stock-Financials | 2.77% | +1.36% | +77.83% | |
| 7 | MSFT | Microsoft CORP | Stock-Tech | 2.74% | -1.64% | -26.84% | |
| 8 | RY | Royal Bank Of Canada | Stock-Financials | 2.30% | — | +1.31% | |
| 9 | CNQ | Canadian Natural Resources | Stock-Energy | 2.25% | +1.96% | +373.36% | |
| 10 | AMZN | Amazon.com INC | Stock-Consumer Disc | 2.14% | -0.85% | -29.06% | |
| 11 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 1.93% | -0.47% | -21.80% | |
| 12 | AVGO | Broadcom INC | Stock-Tech | 1.35% | -0.40% | -22.64% | |
| 13 | META | Meta Platforms Inc-class A | Stock-Comm Services | 1.27% | -0.49% | -25.52% | |
| 14 | SHOP | Shopify INC - Class A | Stock-Tech | 1.22% | -0.70% | -22.52% | |
| 15 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 1.13% | -0.31% | -22.68% | |
| 16 | TRP | Tc Energy CORP | Stock-Energy | 1.07% | +0.27% | +4.52% | |
| 17 | AEM | Agnico Eagle Mines LTD | Stock-Materials | 0.98% | +0.30% | +7.93% | |
| 18 | ENB | Enbridge INC | Stock-Energy | 0.95% | +0.30% | +16.11% | |
| 19 | TSLA | Tesla INC | Stock-Consumer Disc | 0.93% | -0.34% | -20.92% | |
| 20 | CM | Can Imperial Bk Of Commerce | Stock-Financials | 0.90% | +0.51% | +95.64% | |
| 21 | WMT | Walmart INC | Stock-Consumer Staples | 0.87% | — | -8.17% | |
| 22 | SU | Suncor Energy INC | Stock-Energy | 0.78% | +0.36% | +11.87% | |
| 23 | BMO | Bank Of Montreal | Stock-Financials | 0.71% | — | -5.16% | |
| 24 | JNK | Ss Spdr Bb High Yield Bond | ETF-High Yield | 0.69% | — | — | |
| 25 | LLY | Eli Lilly & Co | Stock-Healthcare | 0.68% | -0.17% | -16.96% | |
| 26 | JPM | Jpmorgan Chase & Co | Stock-Financials | 0.65% | -0.18% | -23.11% | |
| 27 | BN | Brookfield CORP | Stock-Financials | 0.63% | -0.23% | -26.56% | |
| 28 | WCN | Waste Connections INC | Stock-Industrials | 0.62% | -0.36% | -38.90% | |
| 29 | RYN | Rayonier INC | Stock-Real Estate | 0.62% | — | — | |
| 30 | XOM | Exxon Mobil CORP | Stock-Energy | 0.61% | — | -19.29% | |
| 31 | WPM | Wheaton Precious Metals CORP | Stock-Materials | 0.58% | +0.35% | +107.45% | |
| 32 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 0.56% | -0.09% | -18.97% | |
| 33 | FNV | Franco-nevada CORP | Stock-Materials | 0.56% | -0.11% | -37.63% | |
| 34 | CP | Canadian Pacific Kansas City | Stock-Industrials | 0.53% | -0.11% | -31.03% | |
| 35 | V | Visa Inc-class A Shares | Stock-Financials | 0.51% | -0.20% | -25.50% | |
| 36 | MFC | Manulife Financial CORP | Stock-Financials | 0.50% | +0.25% | +93.41% | |
| 37 | B | Barrick Mining CORP | Stock-Materials | 0.50% | — | -15.66% | |
| 38 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 0.49% | +0.25% | +89.60% | |
| 39 | BNS | Bank Of Nova Scotia | Stock-Financials | 0.48% | +0.23% | +82.76% | |
| 40 | AQN | Algonquin Power & Utilities | Stock-Other | 0.48% | — | +1.73% | |
| 41 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.48% | — | -22.29% | |
| 42 | CLS | Celestica INC | Stock-Tech | 0.45% | — | -19.15% | |
| 43 | XLE | Ss Energy Select Sector | ETF-Other | 0.44% | +0.22% | +30.45% | |
| 44 | CCJ | Cameco CORP | Stock-Energy | 0.42% | +0.27% | +115.41% | |
| 45 | COST | Costco Wholesale CORP | Stock-Consumer Staples | 0.40% | — | -13.68% | |
| 46 | CVX | Chevron CORP | Stock-Energy | 0.39% | — | -5.67% | |
| 47 | CNI | Canadian Natl Railway Co | Stock-Industrials | 0.39% | — | -21.21% | |
| 48 | XLI | Ss Industrial Select Sector | ETF-Other | 0.39% | — | -14.60% | |
| 49 | CVE | Cenovus Energy INC | Stock-Energy | 0.37% | — | -38.67% | |
| 50 | BAC | Bank Of America CORP | Stock-Financials | 0.36% | -0.21% | -36.19% |
Performance for Q3 2026
+2.1%
Performance Last 4 Quarters
+20.8%
Based on 81% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 692 | $17.0B | 40 | |
| 2025-12-31 | 697 | $19.0B | 24 | |
| 2025-09-30 | 683 | $17.5B | 33 | |
| 2025-06-30 | 678 | $17.2B | 0 | |
| 2025-03-31 | 708 | $16.2B | 100 | |
| 2024-12-31 | 728 | $16.8B | 0 | |
| 2024-09-30 | 726 | $16.7B | 0 | |
| 2024-06-30 | 733 | $16.6B | 0 | |
| 2024-03-31 | 789 | $14.5B | 0 | |
| 2023-12-31 | 783 | $12.2B | 0 | |
| 2023-09-30 | 805 | $10.5B | 0 | |
| 2023-06-30 | 804 | $10.7B | 0 | |
| 2023-03-31 | 809 | $9.6B | 0 | |
| 2022-12-31 | 813 | $9.1B | 0 | |
| 2022-09-30 | 821 | $8.9B | 0 | |
| 2022-06-30 | 822 | $10.5B | 0 | |
| 2022-03-31 | 842 | $15.6B | 0 | |
| 2021-12-31 | 837 | $17.8B | 0 | |
| 2021-09-30 | 839 | $17.0B | 0 | |
| 2021-06-30 | 841 | $16.3B | 27 | |
| 2021-03-31 | 826 | $13.9B | 30 | |
| 2020-12-31 | 819 | $14.3B | 23 | |
| 2020-09-30 | 810 | $12.2B | 23 | |
| 2020-06-30 | 798 | $10.1B | 57 | |
| 2020-03-31 | 813 | $5.9B | 82 | |
| 2019-12-31 | 823 | $13.4B | 42 | |
| 2019-09-30 | 786 | $10.3B | 26 | |
| 2019-06-30 | 789 | $11.4B | 23 | |
| 2019-03-31 | 766 | $11.2B | 22 | |
| 2018-12-31 | 762 | $11.2B | 42 | |
| 2018-09-30 | 689 | $9.5B | 23 | |
| 2018-06-30 | 689 | $11.3B | 25 | |
| 2018-03-31 | 687 | $13.1B | 18 | |
| 2017-12-31 | 690 | $14.2B | 19 | |
| 2017-09-30 | 693 | $12.9B | 17 | |
| 2017-06-30 | 694 | $12.5B | 16 | |
| 2017-03-31 | 688 | $12.6B | 19 | |
| 2016-12-31 | 692 | $11.4B | 19 | |
| 2016-09-30 | 678 | $9.9B | 20 | |
| 2016-06-30 | 686 | $11.4B | 21 | |
| 2016-03-31 | 693 | $10.6B | 16 | |
| 2015-12-31 | 685 | $10.4B | 25 | |
| 2015-09-30 | 714 | $9.8B | 23 | |
| 2015-06-30 | 728 | $10.5B | 21 | |
| 2015-03-31 | 714 | $11.1B | 27 | |
| 2014-12-31 | 784 | $12.1B | 20 | |
| 2014-09-30 | 773 | $11.9B | 12 | |
| 2014-06-30 | 779 | $12.4B | 15 | |
| 2014-03-31 | 779 | $11.9B | 14 | |
| 2013-12-31 | 785 | $12.7B | 15 | |
| 2013-09-30 | 767 | $11.9B | 15 | |
| 2013-06-30 | 761 | $12.1B | 13 |
BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's most significant position changes for 2026-03-31: Add: Bunge Global SA (BG) — shares +18388.36%; Add: Canadian Natural Resources (CNQ) — shares +373.36%; Add: Ishr Ibx Usd Hiyld Cb Etf-ui (HYG) — shares +22.05%; Trim: Microsoft CORP (MSFT) — shares -26.84%; Add: Ishares Broad Usd High Yield (USHY) — shares +33.43%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | BG | Bunge Global SA | +3.4% | +18388.36% | Add |
| 2 | CNQ | Canadian Natural Resources | +2% | +373.36% | Add |
| 3 | HYG | Ishr Ibx Usd Hiyld Cb Etf-ui | +1.8% | +22.05% | Add |
| 4 | USHY | Ishares Broad Usd High Yield | +1.6% | +33.43% | Add |
| 5 | TD | Toronto-dominion Bank | +1.4% | +77.83% | Add |
| 6 | CM | Can Imperial Bk Of Commerce | +0.5% | +95.64% | Add |
| 7 | SU | Suncor Energy INC | +0.4% | +11.87% | Add |
| 8 | WPM | Wheaton Precious Metals CORP | +0.4% | +107.45% | Add |
| 9 | ENB | Enbridge INC | +0.3% | +16.11% | Add |
| 10 | AEM | Agnico Eagle Mines LTD | +0.3% | +7.93% | Add |
| 11 | CCJ | Cameco CORP | +0.3% | +115.41% | Add |
| 12 | TRP | Tc Energy CORP | +0.3% | +4.52% | Add |
| 13 | MFC | Manulife Financial CORP | +0.3% | +93.41% | Add |
| 14 | SPY | Ss Spdr S&p 500 ETF Trust-us | +0.3% | +89.60% | Add |
| 15 | BNS | Bank Of Nova Scotia | +0.2% | +82.76% | Add |
| 16 | XLE | Ss Energy Select Sector | +0.2% | +30.45% | Add |
| 17 | EFA | Ishares Msci Eafe ETF | +0.2% | +237.73% | Add |
| 18 | IMO | Imperial Oil LTD | +0.2% | +124.05% | Add |
| 19 | BRK-B | Berkshire Hathaway Inc-cl B | -0.1% | -18.97% | Trim |
| 20 | FNV | Franco-nevada CORP | -0.1% | -37.63% | Trim |
| 21 | CP | Canadian Pacific Kansas City | -0.1% | -31.03% | Trim |
| 22 | MA | Mastercard INC - A | -0.1% | -22.84% | Trim |
| 23 | WM | Waste Management INC | -0.1% | -58.30% | Trim |
| 24 | NOW | Servicenow INC | -0.2% | -50.97% | Trim |
| 25 | LNG | Cheniere Energy INC | -0.2% | -84.62% | Trim |
| 26 | TMO | Thermo Fisher Scientific INC | -0.2% | -44.80% | Trim |
| 27 | BIP | Brookfield Infrastructure Partners L.P. | -0.2% | -44.18% | Trim |
| 28 | LLY | Eli Lilly & Co | -0.2% | -16.96% | Trim |
| 29 | BGSI | THE Boyd Group INC | -0.2% | -60.26% | Trim |
| 30 | JPM | Jpmorgan Chase & Co | -0.2% | -23.11% | Trim |
| 31 | SPGI | S&p Global INC | -0.2% | -59.53% | Trim |
| 32 | URI | United Rentals INC | -0.2% | -83.51% | Trim |
| 33 | V | Visa Inc-class A Shares | -0.2% | -25.50% | Trim |
| 34 | BAC | Bank Of America CORP | -0.2% | -36.19% | Trim |
| 35 | TRI4EUR | Thomson Reuters CORP | -0.2% | -71.65% | Trim |
| 36 | BN | Brookfield CORP | -0.2% | -26.56% | Trim |
| 37 | INTU | Intuit INC | -0.2% | -59.15% | Trim |
| 38 | BAM | Brookfield Asset Mgmt-a | -0.3% | -50.41% | Trim |
| 39 | GOOG | Alphabet Inc-cl C | -0.3% | -22.68% | Trim |
| 40 | TSLA | Tesla INC | -0.3% | -20.92% | Trim |
| 41 | WCN | Waste Connections INC | -0.4% | -38.90% | Trim |
| 42 | CIGI | Colliers Intl Gr-subord Vot | -0.4% | -92.76% | Trim |
| 43 | AVGO | Broadcom INC | -0.4% | -22.64% | Trim |
| 44 | GOOGL | Alphabet Inc-cl A | -0.5% | -21.80% | Trim |
| 45 | META | Meta Platforms Inc-class A | -0.5% | -25.52% | Trim |
| 46 | SHOP | Shopify INC - Class A | -0.7% | -22.52% | Trim |
| 47 | AMZN | Amazon.com INC | -0.9% | -29.06% | Trim |
| 48 | AAPL | Apple INC | -0.9% | -22.84% | Trim |
| 49 | NVDA | Nvidia CORP | -1.1% | -23.89% | Trim |
| 50 | MSFT | Microsoft CORP | -1.6% | -26.84% | Trim |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-14 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-13 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-13 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-14 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-14 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-18 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-14 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-14 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-15 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-14 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-14 | 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 | 2023-02-13 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-10 | 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 | 2021-09-29 | Amendment | View on EDGAR |
| 2021-06-30 | 2021-08-09 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-04-30 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-02-02 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-11-10 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-08-12 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-05-13 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-02-12 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-11-14 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-09-06 | Amendment | View on EDGAR |
| 2019-06-30 | 2019-08-12 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-09-06 | Amendment | View on EDGAR |
| 2019-03-31 | 2019-05-08 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-09-06 | Amendment | View on EDGAR |
| 2018-12-31 | 2019-02-13 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-11-13 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-08-09 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-05-15 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-02-20 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-11-14 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-08-03 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-05-04 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-02-09 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2016-10-12 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-07-08 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-04-08 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-01-25 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2015-10-14 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2015-10-14 | Amendment | View on EDGAR |
| 2015-06-30 | 2015-07-27 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2015-10-14 | Amendment | View on EDGAR |
| 2015-03-31 | 2015-05-05 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2015-10-15 | Amendment | View on EDGAR |
| 2014-12-31 | 2015-01-07 | 13F-HR | View on EDGAR |
| 2014-09-30 | 2015-10-15 | Amendment | View on EDGAR |
| 2014-09-30 | 2014-10-07 | 13F-HR | View on EDGAR |
| 2014-06-30 | 2015-10-15 | Amendment | View on EDGAR |
| 2014-06-30 | 2014-07-07 | 13F-HR | View on EDGAR |
| 2014-03-31 | 2015-10-15 | Amendment | View on EDGAR |
| 2014-03-31 | 2014-04-15 | 13F-HR | View on EDGAR |
| 2013-12-31 | 2015-10-15 | Amendment | View on EDGAR |
| 2013-12-31 | 2014-01-15 | 13F-HR | View on EDGAR |
| 2013-09-30 | 2015-10-15 | Amendment | View on EDGAR |
| 2013-09-30 | 2013-11-05 | 13F-HR | View on EDGAR |
| 2013-06-30 | 2015-10-15 | Amendment | View on EDGAR |
| 2013-06-30 | 2013-07-22 | 13F-HR | View on EDGAR |
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