NewGen Asset Management Ltd

TORONTO, A6 · CIK 1845012 · 13F filing filed 2026-08-13

SEC-registered investment adviser since 2019 · corporation

Assets managed$774.8m
Staff13 · 8 in investment roles
Main clients (by assets)Private funds 96%, Mutual funds and ETFs 4%
Private funds1 (1 hedge) · $217.2m gross assets
Main officeToronto, Ontario
Form ADV · 2026-01-29SEC adviser record

Kindhedge funds
Others nearbyToronto

As an employer

Offices in1 country
Private fundshedge 1

$182.2m reported value +10.8% vs Q1 2026

29positions

72.7%in top 10

12 new 11 added 4 reduced 9 sold out vs Q1 2026

Options: 5 call positions ($60.5m notional), 0 put positions (— notional) – listed below, not included above.

Holdings, Q2 2026

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	MDA SPACE LTD COM MDA	MDA	725,000	$29.9m16.42%	16.42%	Added +100.0k	+100,000 16.0%
2	HIGHLANDER SILVER CORP COM HSLV	HSLV	4,180,000	$19.5m10.69%	10.69%	Reduced -720.0k	-720,000 -14.7%
3	AMERICAS GOLD AND SILVER COR COM NEW USAS	USAS	3,500,000	$16.5m9.07%	9.07%	Reduced -949.9k	-949,900 -21.4%
4	ENERFLEX LTD COM EFXT	EFXT	636,744	$15.6m8.56%	8.56%	Reduced -100.0k	-100,000 -13.6%
5	GILDAN ACTIVEWEAR INC COM GIL	GIL	300,000	$15.5m8.50%	8.50%	Added +97.4k	+97,402 48.1%
6	TRANSALTA CORP COM TAC	TAC	550,000	$7.6m4.17%	4.17%	New
7	BOYD GROUP SERVICES INC COM BGSI	BGSI	79,800	$7.6m4.14%	4.14%	Added +10.0k	+10,000 14.3%
8	AGNICO EAGLE MINES LTD COM AEM	AEM	45,000	$7.0m3.83%	3.83%	New
9	APOLLO COML REAL EST FIN INC COM ARI	ARI	637,325	$6.8m3.74%	3.74%	Added +331.7k	+331,655 108.5%
10	CAE INC COM CAE	CAE	257,600	$6.5m3.54%	3.54%	Added +99.4k	+99,400 62.8%
11	SHOPIFY INC CL A SUB VTG SHS SHOP	SHOP	53,700	$6.1m3.36%	3.36%	New
12	CAMECO CORP COM CCJ	CCJ	50,000	$5.1m2.79%	2.79%	New
13	ENBRIDGE INC COM ENB	ENB	90,000	$4.9m2.68%	2.68%	Unchanged
14	IAMGOLD CORP COM IAG	IAG	300,000	$4.8m2.61%	2.61%	New
15	PROGRESS SOFTWARE CORP NOTE 3.500% 3/0 PRGS 3.5 03.01.30	PRGS 3.5 03.01.30	4,885,000	$4.7m2.58%	2.58%	New
16	SOLARIS RES INC COM NEW SLSR	SLSR	550,000	$4.6m2.53%	2.53%	New
17	ATS CORPORATION COM ATS	ATS	150,000	$4.3m2.37%	2.37%	New
18	COMMSCOPE HLDG CO INC COM VISN	VISN	200,000	$2.6m1.40%	1.40%	New
19	TRULIEVE CANNABIS CORP SUB VTG SHS SUB VTG SHS		200,000	$2.0m1.08%	1.08%	New
20	VIZSLA SILVER CORP COM NEW VZLA	VZLA	593,700	$2.0m1.08%	1.08%	Reduced -300.0k	-300,000 -33.6%
21	WINNEBAGO INDS INC NOTE 3.250% 1/1 WGO 3.25 01.15.30	WGO 3.25 01.15.30	2,000,000	$1.9m1.03%	1.03%	New
22	PALMER SQUARE CAPITAL BDC IN COM SHS PSBD	PSBD	154,539	$1.6m0.88%	0.88%	Added +80.9k	+80,855 109.7%
23	ELME COMMUNITIES SH BEN INT ELME	ELME	1,041,833	$1.5m0.85%	0.85%	Added +465.1k	+465,069 80.6%
24	SLR INVESTMENT CORP COM SLRC	SLRC	108,983	$1.3m0.74%	0.74%	New
25	OAKTREE SPECIALTY LENDING CO COM OCSL	OCSL	73,819	$881.4k0.48%	0.48%	Added +33.3k	+33,319 82.3%
26	MORGAN STANLEY DIRECT LENDIN COM SHS MSDL	MSDL	34,300	$518.6k0.28%	0.28%	Added +10.0k	+10,000 41.1%
27	GOLUB CAP BDC INC COM GBDC	GBDC	40,000	$515.2k0.28%	0.28%	Added +14.4k	+14,400 56.2%
28	MIDCAP FINANCIAL INVSTMNT CO COM NEW MFIC	MFIC	45,000	$453.6k0.25%	0.25%	Added +10.0k	+10,000 28.6%
29	ALEANNA INC COM CL A ANNA	ANNA	28,283	$82.0k0.05%	0.05%	Unchanged

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
COEUR MNG INC CDE	CDE	625,000	$11.7m625.0k shares
SSR MINING IN SSRM	SSRM	280,000	$8.2m280.0k shares
BROOKFIELD RENEWABLE PARTNER BEP	BEP	239,500	$7.8m239.5k shares
WEST FRASER TIMBER CO LTD WFG	WFG	100,000	$6.5m100.0k shares
BROOKFIELD ASSET MANAGMT LTD BAM	BAM	54,000	$2.4m54.0k shares
ZIFF DAVIS INC ZD	ZD	52,500	$2.2m52.5k shares
DOCEBO INC DCBO	DCBO	89,172	$1.6m89.2k shares
TRIMAS CORP TRS	TRS	40,000	$1.4m40.0k shares
NUVEEN CHURCHILL DIRECT LEND NCDL	NCDL	27,900	$354.9k27.9k shares

Options (notional value)

Underlying	Ticker	Type	Shares controlled	Notional	Change
ISHARES SILVER TR SLV · Call	SLV	Call	400,000	$21.4m400.0k shares	New
AMPLIFY ETF TR SILJ · Call	SILJ	Call	500,000	$13.0m500.0k shares	New
PRECISION DRILLING CORP PDS · Call	PDS	Call	133,600	$10.2m133.6k shares	New
THOMSON REUTERS CORP TRI · Call	TRI	Call	100,000	$8.2m100.0k shares	New
AGNICO EAGLE MINES LTD AEM · Call	AEM	Call	50,000	$7.8m50.0k shares	New