Alberta Investment Management Corp
Long book
$14.65B
Q1 2026
Positions
541
Top-10 weight
57%
concentration
Last quarter
+9.0%
SPY +14.8%
Turnover
60%
of book per quarter
Strategy in plain words
auto-generated from filingsAlberta Investment Management Corp is an institutional manager, running a $14.65B US long book across 541 positions.
The portfolio is concentrated: the top 10 names carry 57% of the portfolio. Turnover is high — positions rotate quickly, so individual names matter less than the process. Current anchor positions: ISHARES CORE S&P 500 ETF, VANGUARD S&P 500 ETF, CANADIAN NATURAL RESOURCES, TORONTO-DOMINION BANK, ROYAL BANK OF CANADA.
Over the last 9 quarters its long book ran on average 0.7pp per quarter behind the S&P 500, beating the index in 4 of 9 quarters. Signal value of individual moves is limited — treat changes as weak evidence.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-0.6%
Q2 2024
+9.4%
Q3 2024
-0.3%
Q4 2024
-2.6%
Q1 2025
+10.5%
Q2 2025
+7.8%
Q3 2025
+3.3%
Q4 2025
-2.0%
Q1 2026
+9.0%
Sector allocation
Financials 39%
Energy 16%
Other 7%
Technology 6%
Materials 6%
Industrials 6%
Utilities 5%
Services media 4%
Long book by quarter
What does Alberta Investment own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| CNQ CANADIAN NATURAL RESOURCES | Energy | 8.9M | $433.1M | 3.0% | +338.3% |
| TD TORONTO-DOMINION BANK | Financials | 4.2M | $391.9M | 2.7% | +31.8% |
| RY ROYAL BANK OF CANADA | Financials | 2.2M | $355.8M | 2.4% | +15.7% |
| BNS BANK OF NOVA SCOTIA | Financials | 4.6M | $316.4M | 2.2% | +178.0% |
| TRP TC ENERGY CORP | Utilities | 4.0M | $250.8M | 1.7% | +296.2% |
| CVE CENOVUS ENERGY INC | Energy | 9.2M | $244.7M | 1.7% | +67.0% |
| SU SUNCOR ENERGY INC | Energy | 3.7M | $243.0M | 1.7% | +73.5% |
| AEM AGNICO EAGLE MINES LTD | Materials | 1.2M | $234.4M | 1.6% | +0.8% |
| CM CAN IMPERIAL BK OF COMMERCE | Financials | 2.1M | $203.2M | 1.4% | +721.0% |
| MSTR STRATEGY INC | Financials | 1.4M | $172.5M | 1.2% | New |
| BN BROOKFIELD CORP | Real estate | 3.7M | $149.4M | 1.0% | +6.4% |
| BMO BANK OF MONTREAL | Financials | 842.2K | $114.1M | 0.8% | -15.8% |
| SHOP SHOPIFY INC - CLASS A | Technology | 927.4K | $110.1M | 0.8% | +57.7% |
| PBA PEMBINA PIPELINE CORP | Energy | 2.2M | $96.5M | 0.7% | +374.3% |
| GPGI GPGI INC | Financials | 5.4M | $92.4M | 0.6% | New |
| CP CANADIAN PACIFIC KANSAS CITY | Industrials | 1.2M | $91.8M | 0.6% | +3.6% |
| JBS JBS NV-A | Consumer staples | 5.0M | $90.2M | 0.6% | +8.7% |
| MFC MANULIFE FINANCIAL CORP | Financials | 2.3M | $80.0M | 0.5% | -15.8% |
| CNI CANADIAN NATL RAILWAY CO | Industrials | 759.3K | $78.2M | 0.5% | +5.7% |
| GOOGL ALPHABET INC-CL A | Technology | 270.0K | $77.6M | 0.5% | -38.3% |
| SW SMURFIT WESTROCK PLC | Other | 1.9M | $77.5M | 0.5% | +39.3% |
| AXP AMERICAN EXPRESS CO | Financials | 240.1K | $72.6M | 0.5% | +51.8% |
| FCNCA FIRST CITIZENS BCSHS -CL A | Financials | 36.2K | $68.2M | 0.5% | Held |
| YUMC YUM CHINA HOLDINGS INC | Consumer discretionary | 1.4M | $66.6M | 0.5% | -11.6% |
| VSTS VESTIS CORP | Consumer discretionary | 8.3M | $65.6M | 0.4% | -13.9% |
| QSR RESTAURANT BRANDS INTERN | Consumer discretionary | 881.1K | $65.2M | 0.4% | +1.7% |
| NTR NUTRIEN LTD | Other | 850.3K | $64.2M | 0.4% | +23.7% |
| SLB SLB LTD | Energy | 1.2M | $62.4M | 0.4% | +35.1% |
| GILD GILEAD SCIENCES INC | Healthcare | 442.0K | $61.6M | 0.4% | Held |
| SLF SUN LIFE FINANCIAL INC | Financials | 981.4K | $61.5M | 0.4% | +5.8% |
| FRPT FRESHPET INC | Consumer staples | 993.0K | $58.5M | 0.4% | +15.3% |
| SDA SEALED AIR CORP | Services media | 1.4M | $58.5M | 0.4% | -45.2% |
| STN STANTEC INC | Services media | 668.6K | $57.8M | 0.4% | +13.1% |
| ENB ENBRIDGE INC | Energy | 1.1M | $57.2M | 0.4% | -62.0% |
| MSM MSC INDUSTRIAL DIRECT CO-A | Consumer discretionary | 602.0K | $55.5M | 0.4% | -2.8% |
| GIL GILDAN ACTIVEWEAR INC | Other | 996.7K | $55.5M | 0.4% | -10.7% |
| HO1 HOLOGIC INC | — | 734.0K | $55.5M | 0.4% | +6.6% |
| CFR CULLEN/FROST BANKERS INC | Financials | 400.0K | $54.8M | 0.4% | Held |
| LLYVA LIBERTY LIVE HOLDINGS-A | Services media | 594.0K | $54.4M | 0.4% | Held |
| META META PLATFORMS INC-CLASS A | Technology | 92.0K | $52.6M | 0.4% | -22.8% |
| TXNM TXNM ENERGY INC | Utilities | 891.4K | $52.1M | 0.4% | +45.7% |
| WBS WEBSTER FINANCIAL CORP | Financials | 700.0K | $48.6M | 0.3% | New |
| TECK TECK RESOURCES LTD-CLS B | Materials | 904.4K | $46.9M | 0.3% | -8.9% |
| EL ESTEE LAUDER COMPANIES-CL A | Other | 641.9K | $46.1M | 0.3% | +5.6% |
| GIB CGI INC | Services media | 627.7K | $45.9M | 0.3% | -10.4% |
| AXS AXIS CAPITAL HOLDINGS LTD | Financials | 450.0K | $45.6M | 0.3% | Held |
| SPB SPECTRUM BRANDS HOLDINGS INC | Technology | 607.5K | $44.8M | 0.3% | -19.2% |
| CIGI COLLIERS INTL GR-SUBORD VOT | Real estate | 403.4K | $43.1M | 0.3% | +24.0% |
| LEA LEAR CORP | Industrials | 355.4K | $43.0M | 0.3% | Held |
| TBN TAMBORAN RESOURCES CORP | Energy | 858.7K | $42.9M | 0.3% | Held |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | Apr 29, 2026 | 580 | $16.67B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR/ARESTATEMENT | Feb 19, 2026 | 747 | $16.91B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 747 | $31.25B | SEC ↗ | |
| Q3 2025 | 13F-HR/ARESTATEMENT | Feb 17, 2026 | 506 | $13.98B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 7, 2025 | 414 | $10.14B | SEC ↗ | |
| Q2 2025 | 13F-HR/ARESTATEMENT | Feb 17, 2026 | 565 | $12.93B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 8, 2025 | 453 | $8.81B | SEC ↗ | |
| Q1 2025 | 13F-HR | May 8, 2025 | 743 | $14.62B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 3, 2025 | 790 | $14.99B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 5, 2024 | 764 | $11.58B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 13, 2024 | 700 | $9.45B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 1011 | $9.88B | canonical | SEC ↗ |
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