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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
Avg Time Held
13.2 quarters
Top 10 Avg Time Held
7.3 quarters
Top 20 Avg Time Held
5.5 quarters

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 icon
OceanaGold Corp
OGC
+$4.97M

Top Sells

Rank Stock Value
1
CAE icon
CAE Inc
CAE
+$11.5M
2
BGSI icon
Boyd Group Services
BGSI
+$9.86M
3
GFL icon
GFL Environmental
GFL
+$7.84M
4
BBUC icon
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 Held Since
USAS icon
51
Americas Gold and Silver
USAS
$1.25B
$2.18M 0.63%
461,860
+3,610
+0.8% +$20.8K
2025 Q3
3 quarters
CGAU icon
52
Centerra Gold
CGAU
$4.1B
$2.12M 0.61%
133,940
-121,330
-48% -$2.13M
2024 Q2
8 quarters
FTS icon
53
Fortis
FTS
$27.7B
$2M 0.58%
34,990
-14,680
-30% -$828K
2026 Q1
1 quarter
KGC icon
54
Kinross Gold
KGC
$26.1B
$1.7M 0.49%
71,670
-15,950
-18% -$469K
2024 Q1
9 quarters
TSAT icon
55
Telesat
TSAT
$679M
$1.58M 0.45%
+31,180
New +$1.51M
2026 Q2
0 quarters
RBA icon
56
RB Global
RBA
$16.2B
$1.37M 0.4%
11,800
-1,935
-14% -$204K
2023 Q1
13 quarters
SSMR icon
57
Sunshine Silver Mining & Refining Company
SSMR
$1.78B
$1.32M 0.38%
+100,000
New +$1.41M
2026 Q2
0 quarters
NTR icon
58
Nutrien
NTR
$33.3B
$1.3M 0.37%
20,700
-8,590
-29% -$601K
2025 Q1
5 quarters
DCBO icon
59
Docebo
DCBO
$677M
$1.17M 0.34%
+65,500
New +$1.16M
2026 Q2
0 quarters
GIL icon
60
Gildan
GIL
$7.69B
$1.14M 0.33%
22,131
+14,220
+180% +$816K
2025 Q3
3 quarters
BGSI icon
61
Boyd Group Services
BGSI
$2.18B
$387K 0.11%
4,092
-89,801
-96% -$9.86M
2025 Q4
2 quarters
WCN icon
62
Waste Connections
WCN
$39.2B
$291K 0.08%
1,750
-320
-15% -$50.7K
2026 Q1
1 quarter
AGI icon
63
Alamos Gold
AGI
$12.7B
– –
-33,820
Closed -$1.5M –
BEP icon
64
Brookfield Renewable
BEP
$8.37B
– –
-170,580
Closed -$5.57M –
CVNA icon
65
Carvana
CVNA
$40.8B
– –
-32,480
Closed -$2.04M –
GFL icon
66
GFL Environmental
GFL
$18.7B
– –
-187,807
Closed -$7.84M –
GIB icon
67
CGI
GIB
$15B
– –
-20,780
Closed -$1.52M –
ORLA
68
DELISTED
Orla Mining
ORLA
– –
-305,180
Closed -$4.91M –
1 2
3

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FUBT
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DC
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HCM
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SAMT
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TIM
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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.