Galibier Capital Management Ltd.
- SEC CIK
- 0001765768
- Latest filing
- Oct 21, 2025
The latest 13F from Galibier Capital Management Ltd. covers Q3 2025 (filed Oct 21, 2025): 38 long positions worth $300.1M. The top 10 holdings make up 71.1% of the portfolio, and the largest is Agnico Eagle Mines Ltd (AEM) at 12.7%. Livermore has 19 filings on Form 13F from this institution, going back to Q1 2021.
What changed in Q3 2025
Share counts compared with Q2 2025: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.
- New
- 0
- Added
- 1
- Est. +$471.9K
- Reduced
- 22
- Est. −$62.1M
- Sold out
- 0
Top 5 holdings
Share of this quarter's portfolio value
Biggest sells
Reduced and sold-out positions, by estimated amount sold
Largest weight decreases
Reduced and sold-out positions, by percentage points of the portfolio lost
Metrics
13F metrics for Q3 2025, computed only from the numbers in the filings. Definitions below.
- Portfolio value
- $300.1M
- −$32.7M (−9.8%) vs. prior quarter
- Positions
- 38
- 0 vs. prior quarter
- Top 10 concentration
- 71.1%
- Top 10 as share of value
- Turnover
- 0.1%
- Q3 2025, one quarter
- Average holding period
- 13.3 quarters
- Weighted by value
How these are calculated
- Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
- Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
- Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
- Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.
13F filings by quarter
19 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.
Peak $743.7M (Q2 2021)
| Quarter | Filed | Positions | Value | Top 3 holdings | Changes | Filing |
|---|---|---|---|---|---|---|
| Q3 2025 | Oct 21, 2025 | 38 | $300.1M | AEMRYENB | vs. Q2 2025 | SEC |
| Q2 2025 | Aug 7, 2025 | 38 | $332.9M | RYAEMENB | vs. Q1 2025 | SEC |
| Q1 2025 | Apr 30, 2025 | 37 | $320.6M | AEMENBRY | vs. Q4 2024 | SEC |
| Q4 2024 | Jan 15, 2025 | 37 | $350.3M | ENBAEMBNS | vs. Q3 2024 | SEC |
| Q3 2024 | Oct 25, 2024 | 43 | $442.8M | TDAEMCM | vs. Q2 2024 | SEC |
| Q2 2024 | Jul 26, 2024 | 42 | $402.1M | CVEAEMTD | vs. Q1 2024 | SEC |
| Q1 2024 | Apr 16, 2024 | 40 | $417.7M | TDCPCVE | vs. Q4 2023 | SEC |
| Q4 2023 | Jan 23, 2024 | 36 | $385.6M | CPTDRY | vs. Q3 2023 | SEC |
| Q3 2023 | Oct 23, 2023 | 38 | $449.8M | CPMFCGIB | vs. Q2 2023 | SEC |
| Q2 2023 | Jul 24, 2023 | 36 | $435.8M | CPMFCGIB | vs. Q1 2023 | SEC |
| Q1 2023 | May 3, 2023 | 39 | $422.6M | CPMFCAEM | vs. Q4 2022 | SEC |
| Q4 2022 | Jan 26, 2023 | 43 | $493.1M | CPMFCAEM | vs. Q3 2022 | SEC |
| Q3 2022 | Oct 20, 2022 | 41 | $496.0M | CPMFCQSR | vs. Q2 2022 | SEC |
| Q2 2022 | Jul 15, 2022 | 40 | $527.6M | CPMFCCM | vs. Q1 2022 | SEC |
| Q1 2022 | Apr 28, 2022 | 42 | $743.7M | NTRCPAEM | vs. Q4 2021 | SEC |
| Q4 2021 | Feb 8, 2022 | 42 | $697.3M | CMKirkland Lake Gold LtdNTR | vs. Q3 2021 | SEC |
| Q3 2021 | Oct 20, 2021 | 42 | $730.3M | CMKirkland Lake Gold LtdNTR | vs. Q2 2021 | SEC |
| Q2 2021 | Jul 20, 2021 | 42 | $743.7M | CMNTRMFC | vs. Q1 2021 | SEC |
| Q1 2021 | May 5, 2021 | 39 | $666.0M | MFCCMNTR | – | SEC |