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PIC

PCJ Investment Counsel Portfolio holdings

AUM $348M
1-Year Est. Return 54.69%
This Fund
S&P 500
This Quarter Est. Return
+4.56%
1 Year Est. Return
+54.69%
3 Year Est. Return
+163.85%
5 Year Est. Return
+241.17%
10 Year Est. Return
+907.22%
AUM
$348M
AUM Growth
-$4.17M
Cap. Flow
-$4.63M
Cap. Flow %
-1.33%
Top 10 Hldgs %
38.37%
Holding
68
New
9
Increased
25
Reduced
28
Closed
6

Top Buys

Rank Stock Value
1
TAC icon
TransAlta
TAC
+$8.63M
2
HBM icon
Hudbay
HBM
+$7.93M
3
BNS icon
Scotiabank
BNS
+$7.29M
4
JETS icon
US Global Jets ETF
JETS
+$5.81M
5
OGC
OceanaGold Corp
OGC
+$4.97M

Top Sells

Rank Stock Value
1
CAE icon
CAE Inc
CAE
+$11.5M
2
BGSI
Boyd Group Services
BGSI
+$9.86M
3
GFL icon
GFL Environmental
GFL
+$7.84M
4
BBUC
Brookfield Business Corp Class A Subordinate Voting Shares
BBUC
+$6.54M
5
BEP icon
Brookfield Renewable
BEP
+$5.57M

Sector Composition

Rank Sector Weight
1 Materials 27.25%
2 Energy 21.47%
3 Financials 18.92%
4 Industrials 17.37%
5 Utilities 6.28%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BBUC
1
Brookfield Business Corp Class A Subordinate Voting Shares
BBUC
$5.75B
$23.3M 6.7%
781,064
-197,848
-20% -$6.54M
RY icon
2
Royal Bank of Canada
RY
$283B
$16.8M 4.82%
81,100
-2,740
-3% -$508K
EFXT
3
Enerflex
EFXT
$2.44B
$14.8M 4.26%
604,197
-57,055
-9% -$1.42M
TD icon
4
Toronto Dominion Bank
TD
$199B
$13.5M 3.88%
111,100
-10,760
-9% -$1.18M
BTE icon
5
Baytex Energy
BTE
$3.31B
$13.4M 3.84%
3,334,828
+528,835
+19% +$2.44M
CRH icon
6
CRH
CRH
$63.8B
$11.5M 3.3%
107,410
-5,363
-5% -$590K
HBM icon
7
Hudbay
HBM
$13B
$11.2M 3.22%
475,210
+313,550
+194% +$7.93M
BIP icon
8
Brookfield Infrastructure Partners
BIP
$17.5B
$10.8M 3.1%
295,980
+2,826
+1% +$106K
CVE icon
9
Cenovus Energy
CVE
$58.2B
$9.17M 2.64%
368,790
-74,075
-17% -$2.04M
TAC icon
10
TransAlta
TAC
$3.86B
$9.03M 2.6%
+653,290
New +$8.63M
SHOP icon
11
Shopify
SHOP
$197B
$8.82M 2.54%
77,170
+2,310
+3% +$264K
BNS icon
12
Scotiabank
BNS
$113B
$8.61M 2.48%
99,350
+92,610
+1,374% +$7.29M
CAE icon
13
CAE Inc
CAE
$7.81B
$8.48M 2.44%
339,091
-443,602
-57% -$11.5M
BMO icon
14
Bank of Montreal
BMO
$120B
$8.25M 2.37%
46,780
+3,480
+8% +$547K
CNI icon
15
Canadian National Railway
CNI
$76.2B
$7.74M 2.23%
64,960
+2,700
+4% +$307K
DNN icon
16
Denison Mines
DNN
$3.07B
$7.49M 2.15%
2,444,190
-215,010
-8% -$749K
BN icon
17
Brookfield
BN
$92.3B
$7.45M 2.14%
174,760
+73,740
+73% +$3.3M
JETS icon
18
US Global Jets ETF
JETS
$783M
$6.98M 2.01%
+210,000
New +$5.81M
ENB icon
19
Enbridge
ENB
$110B
$6.92M 1.99%
127,750
+4,210
+3% +$231K
CM icon
20
Canadian Imperial Bank of Commerce
CM
$104B
$6.29M 1.81%
54,710
-4,220
-7% -$463K
IAG icon
21
IAMGOLD
IAG
$11.8B
$6.18M 1.78%
390,780
-12,540
-3% -$219K
CLS icon
22
Celestica
CLS
$37.7B
$6.08M 1.75%
16,658
+7,278
+78% +$2.73M
ALM
23
Almonty Industries
ALM
$5.2B
$6.06M 1.74%
366,557
+166,557
+83% +$3.18M
TGB
24
Trekor Metals
TGB
$3.36B
$5.73M 1.65%
832,000
-185,980
-18% -$1.33M
KNX icon
25
Knight Transportation
KNX
$10.9B
$5.71M 1.64%
73,320
+28,710
+64% +$1.99M
1
2 3

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PWM
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FUBT
First United Bank & Trust Oakland, Maryland $348M AUM 25.01% 1-Year Est. Return
PWM
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DC
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HCM
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SAMT
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CAM
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PCJ Investment Counsel's Q2 2026 Portfolio in Review

As of Q2 2026, PCJ Investment Counsel held 68 positions worth $348M, down 1.2% from $352M the previous quarter. Its ten largest holdings account for 38% of the portfolio.

PCJ Investment Counsel's Q2 2026 filing shows 9 new, 25 increased, 28 reduced and 6 closed positions. Its largest new stake was TransAlta: 653,290 shares worth $9.03M. The largest sale was CAE Inc, an estimated $11.5M.

By sector, the portfolio is most concentrated in Materials at 27% of assets, down from 29% a quarter earlier, followed by Energy and Financials.

  • PCJ Investment Counsel's largest Q2 2026 buy was TransAlta: 653,290 shares worth $9.03M.
  • PCJ Investment Counsel added most to Hudbay in Q2 2026, an estimated $7.93M increase.
  • PCJ Investment Counsel's biggest Q2 2026 reduction was CAE Inc, cutting an estimated $11.5M.
  • PCJ Investment Counsel fully exited GFL Environmental in Q2 2026, selling an estimated $7.84M.
  • PCJ Investment Counsel's ten largest holdings make up 38% of its $348M portfolio in Q2 2026.
  • PCJ Investment Counsel opened 9 new positions and closed 6 in Q2 2026.
  • PCJ Investment Counsel's portfolio value fell 1.2% quarter-over-quarter to $348M.

Based on PCJ Investment Counsel's 13F filing for Q2 2026, filed 12 Aug 2026.