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PIC

Portland Investment Counsel Portfolio holdings

AUM $312M
1-Year Est. Return 53.32%
This Fund
S&P 500
This Quarter Est. Return
-4.77%
1 Year Est. Return
+53.32%
3 Year Est. Return
+103.89%
5 Year Est. Return
+49.43%
10 Year Est. Return
–
AUM
$332M
AUM Growth
-$33.3M
Cap. Flow
-$12.5M
Cap. Flow %
-3.77%
Top 10 Hldgs %
79.34%
Holding
55
New
3
Increased
14
Reduced
5
Closed
2

Top Buys

Rank Stock Value
1
VZ icon
Verizon
VZ
+$35.1M
2
MOS icon
The Mosaic Company
MOS
+$14.6M
3
BRK.B icon
Berkshire Hathaway Class B
BRK.B
+$1.64M
4
TLX
Telix Pharmaceuticals
TLX
+$1.33M
5
CCL icon
Carnival Corporation Ltd
CCL
+$806K

Top Sells

Rank Stock Value
1
BNS icon
Scotiabank
BNS
+$26.5M
2
MGA icon
Magna International
MGA
+$20.9M
3
OKLO
Oklo
OKLO
+$16M
4
TD icon
Toronto Dominion Bank
TD
+$7.57M
5
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$408K

Sector Composition

Rank Sector Weight
1 Financials 35.42%
2 Healthcare 20.08%
3 Utilities 13.8%
4 Communication Services 12.2%
5 Energy 8.14%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
PLUG icon
51
Plug Power
PLUG
$3.2B
$98.5K 0.03%
50,000
– –
RLAY icon
52
Relay Therapeutics
RLAY
$4.4B
$84.6K 0.03%
10,000
– –
BNS icon
53
Scotiabank
BNS
$110B
– –
-409,629
Closed -$26.5M
MGA icon
54
Magna International
MGA
$18.6B
– –
-442,068
Closed -$20.9M
1 2
3

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Portland Investment Counsel's Q4 2025 Portfolio in Review

As of Q4 2025, Portland Investment Counsel held 55 positions worth $332M, down 9.1% from $365M the previous quarter. Its ten largest holdings account for 79% of the portfolio.

Portland Investment Counsel withdrew a net $12.5M in Q4 2025, closing 2 positions and reducing 5 holdings. Its most notable exit was Scotiabank, an estimated $26.5M position sold in full.

By sector, the portfolio is most concentrated in Financials at 35% of assets, down from 40% a quarter earlier, followed by Healthcare and Utilities.

Against the trend, Portland Investment Counsel opened a new position in Verizon worth $35.2M.

  • Portland Investment Counsel's largest Q4 2025 buy was Verizon: 865,000 shares worth $35.2M.
  • Portland Investment Counsel added most to Berkshire Hathaway Class B in Q4 2025, an estimated $1.64M increase.
  • Portland Investment Counsel's biggest Q4 2025 reduction was Oklo, cutting an estimated $16M.
  • Portland Investment Counsel fully exited Scotiabank in Q4 2025, selling an estimated $26.5M.
  • Portland Investment Counsel's ten largest holdings make up 79% of its $332M portfolio in Q4 2025.
  • Portland Investment Counsel opened 3 new positions and closed 2 in Q4 2025.
  • Portland Investment Counsel's portfolio value fell 9.1% quarter-over-quarter to $332M.

Based on Portland Investment Counsel's 13F filing for Q4 2025, filed 12 Feb 2026.