LM Asset (IM) Inc. Hedge Fund

CIK: 0002057190 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Feb 13, 2026

Total Value ($000): $126,410 (100.0% shares, 0.0% debt)

Holdings (11)

New Positions (3)

BDN BRANDYWINE RLTY TR 6.2%

Value ($000) $7,826 Shares 2,680,000 Est. Cost $2.92 Unrealized —

PSLV SPROTT ASSET MANAGEMENT LP 3.9%

Value ($000) $4,967 Shares 210,000 Est. Cost $23.65 Unrealized —

CMTG CLAROS MTG TR INC 1.3%

Value ($000) $1,634 Shares 534,000 Est. Cost $3.06 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
BDN	BRANDYWINE RLTY TR	2,680,000	$7,826	6.2%	$2.92	—	SH BEN INT NEW	105368203
PSLV	SPROTT ASSET MANAGEMENT LP	210,000	$4,967	3.9%	$23.65	—	PHYSICAL SILVER	85207K107
CMTG	CLAROS MTG TR INC	534,000	$1,634	1.3%	$3.06	—	COMMON STOCK	18270D106

Increased Positions (5)

GT GOODYEAR TIRE & RUBR CO 11.6%

Value ($000) $14,717 (+285.8%) Shares 1,680,000 (+229.4%) Est. Cost $8.34 Unrealized -5.5%

VET VERMILION ENERGY INC 24.9%

Value ($000) $31,434 (+36.8%) Shares 3,772,600 (+28.2%) Est. Cost $8.97 Unrealized -8.0%

GTE GRAN TIERRA ENERGY INC 12.4%

Value ($000) $15,652 (+28.9%) Shares 3,691,420 (+32.2%) Est. Cost $5.19 Unrealized -18.7%

ASTL ALGOMA STL GROUP INC 4.8%

Value ($000) $6,027 (+47.4%) Shares 1,470,000 (+27.8%) Est. Cost $6.29 Unrealized -36.6%

LUMN LUMEN TECHNOLOGIES INC 1.2%

Value ($000) $1,460 (+26.2%) Shares 29,000 (+22.9%) Est. Cost $6.55 Unrealized +25.6%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
GT	GOODYEAR TIRE & RUBR CO	1,680,000 (+229.4%)	$14,717 (+285.8%)	11.6%	$8.34	-5.5%	COM	382550101
VET	VERMILION ENERGY INC	3,772,600 (+28.2%)	$31,434 (+36.8%)	24.9%	$8.97	-8.0%	COM	923725105
GTE	GRAN TIERRA ENERGY INC	3,691,420 (+32.2%)	$15,652 (+28.9%)	12.4%	$5.19	-18.7%	ORD SHS	38500T200
ASTL	ALGOMA STL GROUP INC	1,470,000 (+27.8%)	$6,027 (+47.4%)	4.8%	$6.29	-36.6%	COM	015658107
LUMN	LUMEN TECHNOLOGIES INC	29,000 (+22.9%)	$1,460 (+26.2%)	1.2%	$6.55	+25.6%	CALL	550241103

Exited Positions (3)

PSLV SPROTT ASSET MANAGEMENT LP 4.1%

Value ($000) $5,181 Shares 330,000 Est. Cost $23.65 Unrealized —

JHX JAMES HARDIE INDS PLC 2.1%

Value ($000) $2,689 Shares 140,000 Est. Cost $23.95 Unrealized -16.3%

HYMC HYCROFT MINING HOLDING CORP 1.2%

Value ($000) $1,575 Shares 254,000 Est. Cost $3.27 Unrealized +238.6%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
PSLV	SPROTT ASSET MANAGEMENT LP	330,000	$5,181	4.1%	$23.65	—	CALL	85207K107
JHX	JAMES HARDIE INDS PLC	140,000	$2,689	2.1%	$23.95	-16.3%	—	G4253H101
HYMC	HYCROFT MINING HOLDING CORP	254,000	$1,575	1.2%	$3.27	+238.6%	—	44862P208

Decreased Positions (3)

LUMN LUMEN TECHNOLOGIES INC 23.0%

Value ($000) $29,036 (-53.4%) Shares 3,737,000 (-63.3%) Est. Cost $6.55 Unrealized +25.6%

TSAT TELESAT CORP 7.5%

Value ($000) $9,517 (-19.5%) Shares 329,450 (-27.2%) Est. Cost $13.90 Unrealized +109.1%

ARMN ARIS MNG CORP 3.3%

Value ($000) $4,141 (-7.1%) Shares 255,000 (-44.0%) Est. Cost $3.97 Unrealized +209.4%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
LUMN	LUMEN TECHNOLOGIES INC	3,737,000 (-63.3%)	$29,036 (-53.4%)	23.0%	$6.55	+25.6%	COM	550241103
TSAT	TELESAT CORP	329,450 (-27.2%)	$9,517 (-19.5%)	7.5%	$13.90	+109.1%	CL A & CL B SHS	879512309
ARMN	ARIS MNG CORP	255,000 (-44.0%)	$4,141 (-7.1%)	3.3%	$3.97	+209.4%	COM	04040Y109