Forge First Asset Management 13F annual report
Forge First Asset Management is an investment fund managing more than $219 billion ran by Phong Liao. There are currently 32 companies in Mr. Liao’s portfolio. The largest investments include Invesco Exch Traded Fd Tr Ii and TopBuild Corp, together worth $56.1 billion.
$219 billion Assets Under Management (AUM)
As of 2nd August 2024, Forge First Asset Management’s top holding is 1,842,500 shares of Invesco Exch Traded Fd Tr Ii currently worth over $38.7 billion and making up 17.7% of the portfolio value.
In addition, the fund holds 45,024 shares of TopBuild Corp worth $17.4 billion, whose value fell 4.6% in the past six months.
The third-largest holding is Canadian Pacific Kansas City worth $16.3 billion and the next is Apple Inc worth $12.2 billion, with 57,700 shares owned.
Currently, Forge First Asset Management's portfolio is worth at least $219 billion. The total portfolio value may be much higher due to cash
assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents.
Careers at Forge First Asset Management
The Forge First Asset Management office and employees reside in Toronto, Ontario, Canada (federal Level). According to the last 13-F report filed with the SEC, Phong Liao serves as the Chief Compliance Officer at Forge First Asset Management.
Recent trades
In the most recent 13F filing, Forge First Asset Management revealed that it had opened a new position in
Apple Inc and bought 57,700 shares worth $12.2 billion.
This means they effectively own approximately 0.1% of the company.
Apple Inc makes up
54.5%
of the fund's Consumer Discretionary sector allocation and has grown its share price by 17.8% in the past year.
The investment fund also strengthened its position in TopBuild Corp by buying
8,300 additional shares.
This makes their stake in TopBuild Corp total 45,024 shares worth $17.4 billion.
TopBuild Corp soared 26.0% in the past year.
On the other hand, there are companies that Forge First Asset Management is getting rid of from its portfolio.
Forge First Asset Management closed its position in Hess on 9th August 2024.
It sold the previously owned 113,500 shares for $17.3 billion.
Phong Liao also disclosed a decreased stake in Invesco Exch Traded Fd Tr Ii by 0.1%.
This leaves the value of the investment at $38.7 billion and 1,842,500 shares.
One of the smallest hedge funds
The two most similar investment funds to Forge First Asset Management are Kaye Capital Management and Kensington Investment Counsel. They manage $219 billion and $219 billion respectively.
Phong Liao investment strategy
Forge First Asset Management’s portfolio is diversified across 8 sectors.
Currently, their heaviest sector is Materials — making up 11.5% of
the total portfolio value.
The fund focuses on investments in the United States as
50.0% of the portfolio companies
are based in the United States.
The majority of the companies in the fund’s portfolio are large-cap stocks.
Stocks with a size of more than $10 billion in market cap make up
38% of the total holdings value.
On the other hand, small-cap stocks make up only 3.1% of the portfolio.
The average market cap of the portfolio companies is close to $325 billion.
The complete list of Forge First Asset Management trades based on 13F SEC filings
These positions were updated on August 9th based on the fund’s latest 13F filing. Quickly find out what the most recently closed or increased positions are.
| Security | Shares Owned | Value | Allocation |
|---|---|---|---|
| Invesco Exch Traded Fd Tr Ii |
11.94%
1,842,500
|
$38,747,775,000 | 17.68% |
| TopBuild Corp |
22.60%
45,024
|
$17,366,657,000 | 7.93% |
| Hess Corporation |
Closed
113,500
|
$17,321,235,000 | |
| Canadian Pacific Kansas City |
159.55%
206,600
|
$16,267,467,000 | 7.42% |
| Apple Inc |
Opened
57,700
|
$12,152,197,000 | 5.55% |
| Canadian Nat Res Ltd |
Closed
143,800
|
$10,968,066,000 | |
| Cenovus Energy Inc |
Opened
547,300
|
$10,756,462,000 | 4.91% |
| Amazon.com Inc. |
10.06%
52,500
|
$10,149,300,000 | 4.63% |
| Skyline Champion Corp |
Closed
110,478
|
$9,398,363,000 | |
| Pulte Group Inc |
Opened
83,206
|
$9,143,507,000 | 4.17% |
| Cboe Global Mkts Inc |
Opened
51,800
|
$8,811,698,000 | 4.02% |
| Helix Energy Solutions Grp I |
Closed
717,961
|
$7,782,697,000 | |
| Pioneer Nat Res Co |
Closed
29,400
|
$7,716,030,000 | |
| Argan, Inc. |
Opened
98,022
|
$7,160,507,000 | 3.27% |
| Primo Water Corporation |
Closed
372,900
|
$6,792,009,000 | |
| CME Group Inc |
Closed
31,500
|
$6,781,320,000 | |
| Franco Nev Corp |
Closed
56,600
|
$6,741,039,000 | |
| Global Pmts Inc |
15.23%
68,100
|
$6,585,951,000 | 3.01% |
| Brookfield Infrast Partners |
17.77%
237,431
|
$6,515,605,000 | 2.97% |
| Rogers Communications Inc. |
Opened
169,222
|
$6,254,797,000 | 2.85% |
| Adobe Inc |
Closed
12,300
|
$6,207,072,000 | |
| Corpay Inc |
Closed
19,800
|
$6,109,092,000 | |
| Nuvei Corporation |
Closed
191,864
|
$6,066,018,000 | |
| Mastercard Incorporated |
715.15%
13,450
|
$5,931,719,000 | 2.71% |
| Atkore Inc |
137.85%
43,400
|
$5,862,472,000 | 2.68% |
| West Fraser Timber Co Ltd |
Closed
66,400
|
$5,735,882,000 | |
| Taiwan Semiconductor Mfg Ltd |
24.51%
32,640
|
$5,674,138,000 | 2.59% |
| Visa Inc |
1,387.70%
20,798
|
$5,455,731,000 | 2.49% |
| Hudbay Minerals Inc. |
Opened
570,200
|
$5,157,504,000 | 2.35% |
| Wheaton Precious Metals Corp |
Closed
102,300
|
$4,816,782,000 | |
| MYR Group Inc |
Opened
34,654
|
$4,699,429,000 | 2.14% |
| Broadcom Inc |
56.65%
2,883
|
$4,628,224,000 | 2.11% |
| Microsoft Corporation |
50.34%
9,075
|
$4,054,892,000 | 1.85% |
| IES Holdings Inc |
35.80%
26,991
|
$3,760,386,000 | 1.72% |
| Installed Bldg Prods Inc |
630.88%
18,272
|
$3,753,434,000 | 1.71% |
| Brookfield Corp |
Closed
82,800
|
$3,462,934,000 | |
| Fiserv, Inc. |
4.10%
22,200
|
$3,307,467,000 | 1.51% |
| Tri Pointe Homes Inc. |
Closed
81,636
|
$3,156,048,000 | |
| Palo Alto Networks Inc |
373.68%
9,000
|
$3,052,620,000 | 1.39% |
| Builders Firstsource Inc |
Opened
20,000
|
$2,766,000,000 | 1.26% |
| Telus Intl Cda Inc |
Closed
326,091
|
$2,757,936,000 | |
| Discover Finl Svcs |
79.37%
21,000
|
$2,745,750,000 | 1.25% |
| Agnc Invt Corp |
Closed
266,700
|
$2,636,330,000 | |
| Open Text Corp |
Closed
59,400
|
$2,304,983,000 | |
| Hewlett Packard Enterprise C |
Opened
99,200
|
$2,099,072,000 | 0.96% |
| Freeport-McMoRan Inc |
Closed
42,800
|
$2,010,958,000 | |
| Ishares Inc |
Opened
35,500
|
$2,010,365,000 | 0.92% |
| RB Global Inc |
Closed
25,800
|
$1,965,186,000 | |
| Vale S.A. |
Closed
152,600
|
$1,859,813,000 | |
| Barrick Gold Corp. |
Closed
111,300
|
$1,851,441,000 | |
| Alphabet Inc |
88.81%
9,800
|
$1,797,222,000 | 0.82% |
| TFI International Inc |
Closed
10,018
|
$1,596,891,000 | |
| GFL Environmental Inc. |
93.42%
37,775
|
$1,470,760,000 | 0.67% |
| Shift4 Pmts Inc |
Closed
18,800
|
$1,242,304,000 | |
| Meta Platforms Inc |
Closed
2,550
|
$1,238,000,000 | |
| Astera Labs Inc |
Closed
15,400
|
$1,142,526,000 | |
| Triple Flag Precious Metal |
Closed
51,100
|
$736,519,000 | |
| Qualcomm, Inc. |
Opened
3,500
|
$696,290,000 | 0.32% |
| NVIDIA Corp |
60.07%
2,410
|
$297,418,000 | 0.14% |
| Patterson-UTI Energy Inc |
Closed
10,000
|
$119,200,000 | |
| No transactions found | |||
| Showing first 500 out of 60 holdings | |||
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