Alberta Investment Management Corp

EDMONTON, A0 · CIK 1463559 · 13F filing filed 2026-02-17

No investment adviser registration (Form ADV) found for this filer. It may be a parent company whose subsidiaries are the registered advisers, a bank or insurer, or a manager based outside the US.

$12.7bn reported value -12.8% vs Q1 2025

564positions

50.4%in top 10

215 new 86 added 150 reduced 394 sold out vs Q1 2025

Options: 0 call positions (— notional), 1 put positions ($185.4m notional) – listed below, not included above.

Holdings, Q2 2025

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	ISHARES TR CORE S&P500 ETF IVV	IVV	4,657,830	$2.9bn22.69%	22.69%	Reduced -385.4k	-385,376 -7.6%
2	SPDR S&P 500 ETF TR TR UNIT SPY	SPY	2,478,946	$1.5bn12.02%	12.02%	Reduced -237.8k	-237,756 -8.8%
3	VANGUARD INDEX FDS S&P 500 ETF SHS VOO	VOO	1,145,256	$650.5m5.10%	5.10%	Added +730.3k	+730,343 176.0%
4	ROYAL BK CDA COM RY	RY	2,389,887	$315.2m2.47%	2.47%	Reduced -1.3m	-1,255,324 -34.4%
5	TORONTO DOMINION BK ONT COM NEW TD	TD	3,132,200	$230.5m1.81%	1.81%	Reduced -1.5m	-1,496,956 -32.3%
6	BROOKFIELD CORP CL A LTD VT SH BN	BN	2,919,268	$180.8m1.42%	1.42%	Reduced -1.5m	-1,539,514 -34.5%
7	AGNICO EAGLE MINES LTD COM AEM	AEM	1,450,614	$172.9m1.36%	1.36%	Reduced -638.6k	-638,610 -30.6%
8	BANK MONTREAL QUE COM BMO	BMO	1,482,000	$164.3m1.29%	1.29%	Reduced -218.5k	-218,523 -12.8%
9	ENBRIDGE INC COM ENB	ENB	3,378,155	$153.3m1.20%	1.20%	Reduced -855.1k	-855,081 -20.2%
10	CANADIAN PACIFIC KANSAS CITY COM CP	CP	1,605,800	$127.6m1.00%	1.00%	Reduced -383.7k	-383,722 -19.3%
11	CANADIAN NAT RES LTD COM CNQ	CNQ	3,979,800	$125.2m0.98%	0.98%	Reduced -1.3m	-1,331,347 -25.1%
12	BANK NOVA SCOTIA HALIFAX COM BNS	BNS	2,126,600	$117.7m0.92%	0.92%	Unchanged
13	SUNCOR ENERGY INC NEW COM SU	SU	2,855,500	$107.0m0.84%	0.84%	Reduced -1.1m	-1,139,077 -28.5%
14	CANADIAN NATL RY CO COM CNI	CNI	1,024,500	$106.8m0.84%	0.84%	Reduced -215.3k	-215,313 -17.4%
15	MANULIFE FINL CORP COM MFC	MFC	3,116,400	$99.7m0.78%	0.78%	Reduced -1.7m	-1,729,810 -35.7%
16	SHOPIFY INC CL A SUB VTG SHS SHOP	SHOP	804,500	$92.8m0.73%	0.73%	Reduced -1.2m	-1,246,077 -60.8%
17	ISHARES TR MSCI CHINA ETF MCHI	MCHI	1,618,480	$89.2m0.70%	0.70%	Unchanged
18	META PLATFORMS INC CL A META	META	120,000	$88.6m0.69%	0.69%	Reduced -87.3k	-87,261 -42.1%
19	INTERDIGITAL INC NOTE 3.500% 6/0 · principal IDCC 3.5 06.01.27 · principal	IDCC 3.5 06.01.27	30,000,000	$87.8m0.69%	0.69%	Unchanged
20	SUN LIFE FINANCIAL INC. COM SLF	SLF	1,297,900	$86.4m0.68%	0.68%	Added +40.0k	+40,000 3.2%
21	ALPHABET INC CAP STK CL A GOOGL	GOOGL	475,000	$83.7m0.66%	0.66%	Reduced -101.7k	-101,700 -17.6%
22	TC ENERGY CORP COM TRP	TRP	1,625,538	$79.4m0.62%	0.62%	Reduced -1.3m	-1,273,491 -43.9%
23	CGI INC CL A SUB VTG GIB	GIB	745,500	$78.3m0.61%	0.61%	Reduced -131.1k	-131,097 -15.0%
24	TECK RESOURCES LTD CL B TECK	TECK	1,913,117	$77.4m0.61%	0.61%	Added +50.0k	+50,000 2.7%
25	YUM CHINA HLDGS INC COM YUMC	YUMC	1,667,900	$74.6m0.59%	0.59%	Reduced -385.2k	-385,190 -18.8%
26	CENOVUS ENERGY INC COM CVE	CVE	5,469,400	$74.5m0.58%	0.58%	Added +150.0k	+150,000 2.8%
27	GRANITE CONSTR INC NOTE 3.750% 5/1 · principal GVA 3.75 05.15.28 · principal	GVA 3.75 05.15.28	35,000,000	$73.0m0.57%	0.57%	Added +2.5m	+2,500,000 7.7%
28	RESTAURANT BRANDS INTL INC COM QSR	QSR	1,070,500	$71.0m0.56%	0.56%	Reduced -311.3k	-311,330 -22.5%
29	SEALED AIR CORP NEW COM COM		2,287,300	$71.0m0.56%	0.56%	Added +691.2k	+691,200 43.3%
30	LIBERTY MEDIA CORP DEL COM LBTY LIV S A COM LBTY LIV S A		889,610	$70.7m0.55%	0.55%	Reduced -131.9k	-131,921 -12.9%
31	GILDAN ACTIVEWEAR INC COM GIL	GIL	1,218,896	$60.1m0.47%	0.47%	Reduced -370.1k	-370,105 -23.3%
32	STANTEC INC COM STN	STN	530,700	$57.8m0.45%	0.45%	Reduced -250.9k	-250,909 -32.1%
33	LIVE NATION ENTERTAINMENT IN NOTE 3.125% 1/1 · principal LYV 3.125 01.15.29 · principal	LYV 3.125 01.15.29	37,500,000	$57.6m0.45%	0.45%	Added +7.5m	+7,500,000 25.0%
34	AMERICAN EXPRESS CO COM AXP	AXP	176,000	$56.1m0.44%	0.44%	Unchanged
35	VESTIS CORPORATION COM SHS VSTS	VSTS	9,692,000	$55.5m0.44%	0.44%	Added +3.5m	+3,547,000 57.7%
36	FIRST CTZNS BANCSHARES INC N CL A FCNCA	FCNCA	28,376	$55.5m0.44%	0.44%	Added +200	+200 0.7%
37	NVIDIA CORPORATION COM NVDA	NVDA	348,900	$55.1m0.43%	0.43%	Reduced -969.2k	-969,241 -73.5%
38	AXIS CAP HLDGS LTD SHS AXS	AXS	530,000	$55.0m0.43%	0.43%	New
39	LAUDER ESTEE COS INC CL A EL	EL	677,900	$54.8m0.43%	0.43%	Unchanged
40	GILEAD SCIENCES INC COM GILD	GILD	488,296	$54.1m0.42%	0.42%	Reduced -29.8k	-29,802 -5.8%
41	WESTERN DIGITAL CORP NOTE 3.000%11/1 · principal WDC 3 11.15.28 · principal	WDC 3 11.15.28	30,000,000	$53.8m0.42%	0.42%	Added +2.0m	+2,000,000 7.1%
42	NUTRIEN LTD COM NTR	NTR	912,900	$53.2m0.42%	0.42%	Added +20.1k	+20,060 2.2%
43	APPLE INC COM AAPL	AAPL	247,600	$50.8m0.40%	0.40%	Reduced -204.2k	-204,247 -45.2%
44	MICROSOFT CORP COM MSFT	MSFT	100,700	$50.1m0.39%	0.39%	Reduced -236.9k	-236,936 -70.2%
45	SEAGATE HDD CAYMAN NOTE 3.500% 6/0 · principal STX 3.5 06.01.28 · principal	STX 3.5 06.01.28	27,500,000	$49.5m0.39%	0.39%	Added +15.0m	+15,000,000 120.0%
46	C H ROBINSON WORLDWIDE INC COM NEW CHRW	CHRW	498,679	$47.8m0.38%	0.38%	Reduced -5.0k	-5,000 -1.0%
47	CENTENE CORP DEL COM CNC	CNC	880,700	$47.8m0.38%	0.38%	Added +8.9k	+8,897 1.0%
48	NUTANIX INC NOTE 0.250%10/0 · principal NTNX 0.25 10.01.27 · principal	NTNX 0.25 10.01.27	33,500,000	$47.2m0.37%	0.37%	Added +18.5m	+18,500,000 123.3%
49	GFL ENVIRONMENTAL INC SUB VTG SHS GFL	GFL	926,000	$46.8m0.37%	0.37%	Added +20.0k	+20,000 2.2%
50	CANADIAN IMPERIAL BANK OF CO COM CM	CM	616,200	$43.8m0.34%	0.34%	Reduced -344.6k	-344,598 -35.9%
51	RENTOKIL INITIAL PLC SPONSORED ADR RTO	RTO	1,794,900	$43.1m0.34%	0.34%	Unchanged
52	COLLIERS INTL GROUP INC SUB VTG SHS CIGI	CIGI	325,200	$42.6m0.33%	0.33%	Reduced -254.8k	-254,763 -43.9%
53	BAUSCH PLUS LOMB CORP COMMON SHARES BLCO	BLCO	3,266,193	$42.5m0.33%	0.33%	Unchanged
54	BROOKFIELD ASSET MANAGMT LTD CL A LMT VTG SHS BAM	BAM	752,567	$41.7m0.33%	0.33%	Reduced -390.2k	-390,208 -34.1%
55	UGI CORP NEW NOTE 5.000% 6/0 · principal UGI 5 06.01.28 · principal	UGI 5 06.01.28	30,000,000	$41.5m0.33%	0.33%	New
56	SPECTRUM BRANDS HLDGS INC NE COM SPB	SPB	751,469	$39.8m0.31%	0.31%	Added +1.4k	+1,440 0.2%
57	CULLEN FROST BANKERS INC COM CFR	CFR	300,000	$38.6m0.30%	0.30%	Added +25.0k	+25,000 9.1%
58	ANHEUSER BUSCH INBEV SA/NV SPONSORED ADR BUD	BUD	560,000	$38.5m0.30%	0.30%	Reduced -203.8k	-203,800 -26.7%
59	CNX RES CORP NOTE 2.250% 5/0 · principal CNX 2.25 05.01.26 · principal	CNX 2.25 05.01.26	14,500,000	$38.5m0.30%	0.30%	Unchanged
60	WILLIS TOWERS WATSON PLC LTD SHS WTW	WTW	125,000	$38.3m0.30%	0.30%	New
61	GEN DIGITAL INC COM GEN	GEN	1,250,000	$36.8m0.29%	0.29%	Unchanged
62	EQV VENTURES ACQUISITION COR CL A ORD SHS FTW	FTW	3,450,000	$36.3m0.28%	0.28%	New
63	VERTEX INC NOTE 0.750% 5/0 · principal VERX 0.75 05.01.29 · principal	VERX 0.75 05.01.29	30,000,000	$35.6m0.28%	0.28%	New
64	FRESHPET INC NOTE 3.000% 4/0 · principal FRPT 3 04.01.28 · principal	FRPT 3 04.01.28	27,500,000	$34.2m0.27%	0.27%	Added +10.0m	+10,000,000 57.1%
65	SIRIUSXM HOLDINGS INC COMMON STOCK SIRI	SIRI	1,486,226	$34.1m0.27%	0.27%	Added +250.0k	+250,000 20.2%
66	AMAZON COM INC COM AMZN	AMZN	154,200	$33.8m0.27%	0.27%	Reduced -577.6k	-577,611 -78.9%
67	LEAR CORP COM NEW LEA	LEA	355,449	$33.8m0.26%	0.26%	Reduced -5.2k	-5,200 -1.4%
68	ALNYLAM PHARMACEUTICALS INC NOTE 1.000% 9/1 · principal ALNY 1 09.15.27 · principal	ALNY 1 09.15.27	25,000,000	$32.6m0.26%	0.26%	Added +10.0m	+10,000,000 66.7%
69	SPHERE ENTERTAINMENT CO NOTE 3.500%12/0 · principal SPHR 3.5 12.01.28 · principal	SPHR 3.5 12.01.28	22,500,000	$31.8m0.25%	0.25%	Added +7.5m	+7,500,000 50.0%
70	WASTE CONNECTIONS INC COM WCN	WCN	168,900	$31.6m0.25%	0.25%	Reduced -267.8k	-267,773 -61.3%
71	BURLINGTON STORES INC NOTE 1.250%12/1 · principal BURL 1.25 12.15.27 · principal	BURL 1.25 12.15.27	24,000,000	$31.1m0.24%	0.24%	Added +1.5m	+1,500,000 6.7%
72	ON SEMICONDUCTOR CORP NOTE 5/0 · principal ON 0 05.01.27 · principal	ON 0 05.01.27	25,000,000	$29.7m0.23%	0.23%	Unchanged
73	WHEATON PRECIOUS METALS CORP COM WPM	WPM	323,200	$29.1m0.23%	0.23%	Reduced -457.4k	-457,353 -58.6%
74	HALOZYME THERAPEUTICS INC NOTE 1.000% 8/1 · principal HALO 1 08.15.28 · principal	HALO 1 08.15.28	25,000,000	$28.6m0.22%	0.22%	Added +15.0m	+15,000,000 150.0%
75	TETRA TECH INC NEW DBCV 2.250% 8/1 · principal TTEK 2.25 08.15.28 · principal	TTEK 2.25 08.15.28	25,000,000	$28.2m0.22%	0.22%	Unchanged
76	TXNM ENERGY INC COM TXNM	TXNM	500,000	$28.2m0.22%	0.22%	New
77	STELLANTIS N.V SHS STLA	STLA	2,794,919	$28.0m0.22%	0.22%	New
78	M3BRIGADE ACQUISITION V CORP CL A VLOS	VLOS	2,475,000	$27.9m0.22%	0.22%	New
79	METHANEX CORP COM MEOH	MEOH	817,100	$27.0m0.21%	0.21%	Unchanged
80	MICROCHIP TECHNOLOGY INC. DEP SHS REPSTG MCHP 7.5 03.15.28	MCHP 7.5 03.15.28	400,000	$26.7m0.21%	0.21%	Unchanged
81	LIBERTY MEDIA CORP DEL NOTE 3.750% 3/1 · principal SIRI 3.75 03.15.28 · principal	SIRI 3.75 03.15.28	25,000,000	$26.1m0.20%	0.20%	Unchanged
82	ATS CORPORATION COM ATS	ATS	767,600	$24.5m0.19%	0.19%	Reduced -198.5k	-198,527 -20.6%
83	ITRON INC NOTE 1.375% 7/1 · principal ITRI 1.375 07.15.30 · principal	ITRI 1.375 07.15.30	20,000,000	$23.8m0.19%	0.19%	New
84	CAMECO CORP COM CCJ	CCJ	315,900	$23.5m0.18%	0.18%	Reduced -506.9k	-506,868 -61.6%
85	UNITEDHEALTH GROUP INC COM UNH	UNH	73,400	$22.9m0.18%	0.18%	Added +27.1k	+27,111 58.6%
86	FRANCO NEV CORP COM FNV	FNV	138,600	$22.8m0.18%	0.18%	Reduced -374.1k	-374,071 -73.0%
87	BARRICK MNG CORP COM SHS B	B	1,093,000	$22.8m0.18%	0.18%	New
88	SPECTRUM BRANDS INC NOTE 3.375% 6/0 · principal SPB 3.375 06.01.29 · principal	SPB 3.375 06.01.29	25,000,000	$22.7m0.18%	0.18%	New
89	ENOVIS CORPORATION NOTE 3.875%10/1 · principal ENOV 3.875 10.15.28 · principal	ENOV 3.875 10.15.28	22,500,000	$22.3m0.17%	0.17%	Added +2.5m	+2,500,000 12.5%
90	LIBERTY MEDIA CORP DEL NOTE 2.250% 8/1 · principal FWONK 2.25 08.15.27 · principal	FWONK 2.25 08.15.27	16,500,000	$22.1m0.17%	0.17%	Added +6.5m	+6,500,000 65.0%
91	ANDRETTI ACQUISITION CORP II ORD SHS CL A POLE	POLE	1,980,000	$20.6m0.16%	0.16%	New
92	GORES HLDGS X INC SHS CL A GTEN	GTEN	2,000,000	$20.5m0.16%	0.16%	New
93	AZEK CO INC CL A AZEK	AZEK	374,399	$20.3m0.16%	0.16%	Added +231.9k	+231,899 162.7%
94	LAMB WESTON HLDGS INC COM LW	LW	391,700	$20.3m0.16%	0.16%	Added +291.7k	+291,700 291.7%
95	JBS N.V. CL A SHS JBS	JBS	1,384,300	$20.2m0.16%	0.16%	New
96	OVINTIV INC COM OVV	OVV	721,500	$20.2m0.16%	0.16%	New
97	THOMSON REUTERS CORP COM COM		100,000	$20.1m0.16%	0.16%	Reduced -339.4k	-339,400 -77.2%
98	AMERICAN HOMES 4 RENT CL A AMH	AMH	555,000	$20.0m0.16%	0.16%	Unchanged
99	ENDAVA PLC ADS DAVA	DAVA	1,288,334	$19.7m0.15%	0.15%	Added +338.3k	+338,334 35.6%
100	FIRST INDL RLTY TR INC COM FR	FR	393,302	$18.9m0.15%	0.15%	Unchanged

Sold out since Q1 2025

Security	Ticker	Shares held before	Value then
ISHARES TR IJR	IJR	623,281	$65.2m623.3k shares
ROYAL CARIBBEAN GROUP RCL 6 08.15.25	RCL 6 08.15.25	12,500,000	$51.6m12.5m shares
ALIBABA GROUP HLDG LTD BABA	BABA	378,358	$50.0m378.4k shares
TAIWAN SEMICONDUCTOR MFG LTD TSM	TSM	293,607	$48.7m293.6k shares
ISHARES TR SCZ	SCZ	720,092	$45.7m720.1k shares
AXON ENTERPRISE INC AXON	AXON	61,116	$32.1m61.1k shares
UNITED STATES STL CORP X 5 11.01.26	X 5 11.01.26	10,000,000	$32.0m10.0m shares
FULL TRUCK ALLIANCE CO LTD YMM	YMM	2,381,411	$30.4m2.4m shares
JD.COM INC JD	JD	692,804	$28.5m692.8k shares
SERVICENOW INC NOW	NOW	34,899	$27.8m34.9k shares
INTUITIVE SURGICAL INC ISRG	ISRG	55,145	$27.3m55.1k shares
MCDONALDS CORP MCD	MCD	83,640	$26.1m83.6k shares
BARRICK GOLD CORP		1,118,350	$21.7m1.1m shares
EXELON CORP EXC	EXC	448,817	$20.7m448.8k shares
DEXCOM INC DXCM	DXCM	297,757	$20.3m297.8k shares
CLOUDFLARE INC NET	NET	153,405	$17.3m153.4k shares
OSISKO GOLD ROYALTIES LTD		790,961	$16.7m791.0k shares
VEREN INC VRN	VRN	2,432,700	$16.1m2.4m shares
TEXAS INSTRS INC TXN	TXN	88,390	$15.9m88.4k shares
PACTIV EVERGREEN INC PTVE	PTVE	850,000	$15.3m850.0k shares
EQUITY COMWLTH EQC	EQC	9,475,676	$15.3m9.5m shares
IRHYTHM TECHNOLOGIES INC IRTC	IRTC	145,166	$15.2m145.2k shares
MARRIOTT INTL INC NEW MAR	MAR	61,797	$14.7m61.8k shares
LXP INDUSTRIAL TRUST LXP	LXP	1,692,503	$14.6m1.7m shares
ETSY INC ETSY 0.125 10.01.26	ETSY 0.125 10.01.26	15,000,000	$14.5m15.0m shares

Options (notional value)

Underlying	Ticker	Type	Shares controlled	Notional	Change
SPDR S&P 500 ETF TR SPY · Put	SPY	Put	300,000	$185.4m300.0k shares	New

Stakes above 5%

Companies where this manager has reported owning more than 5% of a class of shares, on Schedule 13D (may seek influence) or 13G (passive): its latest filing for each, from 19 Dec 2024 on.

Company	Ticker	Stake	Change	Schedule	Last filed
EQUITY COMWLTH EQC · 13G · filed 2024-12-23	EQC	8.1%	new	13G	2024-12-23
FORTRESS VALUE ACQU CORP V FVAV · 13G · filed 2026-03-04	FVAV	7.9%≈ $20.2m	new	13G	2026-03-04
VESTIS CORPORATION VSTS · 13G · filed 2025-07-31	VSTS	7.4%≈ $140.7m	+2.3 pts	13G	2025-07-31
PERIMETER ACQUISITION CORP I PMTR · 13G · filed 2025-05-19	PMTR	6.1%	new	13G	2025-05-19