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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
+3.3%
1 Year Est. Return
+53.32%
3 Year Est. Return
+103.89%
5 Year Est. Return
+49.43%
10 Year Est. Return
–
AUM
$329M
AUM Growth
-$60.6M
Cap. Flow
-$65.6M
Cap. Flow %
-19.94%
Top 10 Hldgs %
82.69%
Holding
57
New
5
Increased
16
Reduced
2
Closed
8

Top Buys

Rank Stock Value
1
CVE icon
Cenovus Energy
CVE
+$20.7M
2
MGA icon
Magna International
MGA
+$6.75M
3
ARES icon
Ares Management
ARES
+$1.33M
4
TD icon
Toronto Dominion Bank
TD
+$611K
5
CCL icon
Carnival Corporation Ltd
CCL
+$476K

Top Sells

Rank Stock Value
1
KHC icon
Kraft Heinz
KHC
+$23.8M
2
VZ icon
Verizon
VZ
+$22.2M
3
NTR icon
Nutrien
NTR
+$18.1M
4
T icon
AT&T
T
+$12M
5
C icon
Citigroup
C
+$11.3M

Sector Composition

Rank Sector Weight
1 Financials 43.64%
2 Healthcare 23.26%
3 Energy 15.8%
4 Consumer Discretionary 8.25%
5 Utilities 5.43%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BRK.B icon
1
Berkshire Hathaway Class B
BRK.B
$1.12T
$56.7M 17.22%
106,458
-450
-0.4% -$219K
CI icon
2
Cigna
CI
$72.8B
$33.8M 10.25%
102,600
– –
SOBO
3
South Bow Corp
SOBO
$7.59B
$29.3M 8.89%
1,146,228
-31,412
-3% -$786K
TD icon
4
Toronto Dominion Bank
TD
$202B
$27.7M 8.43%
462,900
+10,500
+2% +$611K
ELV icon
5
Elevance Health
ELV
$85.8B
$25.3M 7.68%
58,100
– –
MGA icon
6
Magna International
MGA
$19B
$23.6M 7.18%
695,800
+175,700
+34% +$6.75M
CVE icon
7
Cenovus Energy
CVE
$54.8B
$19.9M 6.06%
+1,435,000
New +$20.7M
BNS icon
8
Scotiabank
BNS
$109B
$19.4M 5.9%
409,629
– –
BAM icon
9
Brookfield Asset Management
BAM
$86.9B
$19.1M 5.8%
394,150
– –
OKLO
10
Oklo
OKLO
$8.35B
$17.4M 5.27%
807,580
+5,000
+0.6% +$169K
ARES icon
11
Ares Management
ARES
$32.4B
$14M 4.27%
95,774
+7,700
+9% +$1.33M
DHR icon
12
Danaher
DHR
$146B
$11.2M 3.41%
54,754
+1,000
+2% +$218K
BN icon
13
Brookfield
BN
$111B
$3.16M 0.96%
90,329
– –
CCL icon
14
Carnival Corporation Ltd
CCL
$38.9B
$2.16M 0.66%
110,702
+20,000
+22% +$476K
BIL icon
15
State Street SPDR Bloomberg 1-3 Month T-Bill ETF
BIL
$46.7B
$2.13M 0.65%
23,214
+3,176
+16% +$291K
RDNT icon
16
RadNet
RDNT
$6B
$1.99M 0.6%
40,000
+3,000
+8% +$177K
JPM icon
17
JPMorgan Chase
JPM
$961B
$1.53M 0.47%
6,251
– –
META icon
18
Meta Platforms (Facebook)
META
$1.54T
$1.51M 0.46%
2,626
– –
AMZN icon
19
Amazon
AMZN
$2.96T
$1.35M 0.41%
7,120
– –
GOOGL icon
20
Alphabet (Google) Class A
GOOGL
$4.3T
$1.28M 0.39%
8,266
– –
LNTH icon
21
Lantheus
LNTH
$6.59B
$1.27M 0.39%
13,000
– –
GS icon
22
Goldman Sachs
GS
$303B
$1.23M 0.37%
2,251
– –
AAPL icon
23
Apple
AAPL
$4.47T
$1.14M 0.35%
5,134
– –
CCJ icon
24
Cameco
CCJ
$43B
$988K 0.3%
24,000
+6,000
+33% +$282K
ONC
25
BeOne Medicines Ltd
ONC
$41.3B
$817K 0.25%
3,000
– –
1
2 3

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Portland Investment Counsel's Q1 2025 Portfolio in Review

As of Q1 2025, Portland Investment Counsel held 57 positions worth $329M, down 16% from $390M the previous quarter. Its ten largest holdings account for 83% of the portfolio.

Portland Investment Counsel withdrew a net $65.6M in Q1 2025, closing 8 positions and reducing 2 holdings. Its most notable exit was Kraft Heinz, an estimated $23.8M position sold in full.

By sector, the portfolio is most concentrated in Financials at 44% of assets, up from 38% a quarter earlier, followed by Healthcare and Energy.

Against the trend, Portland Investment Counsel opened a new position in Cenovus Energy worth $19.9M.

  • Portland Investment Counsel's largest Q1 2025 buy was Cenovus Energy: 1,435,000 shares worth $19.9M.
  • Portland Investment Counsel added most to Magna International in Q1 2025, an estimated $6.75M increase.
  • Portland Investment Counsel's biggest Q1 2025 reduction was South Bow Corp, cutting an estimated $786K.
  • Portland Investment Counsel fully exited Kraft Heinz in Q1 2025, selling an estimated $23.8M.
  • Portland Investment Counsel's ten largest holdings make up 83% of its $329M portfolio in Q1 2025.
  • Portland Investment Counsel opened 5 new positions and closed 8 in Q1 2025.
  • Portland Investment Counsel's portfolio value fell 16% quarter-over-quarter to $329M.

Based on Portland Investment Counsel's 13F filing for Q1 2025, filed 14 May 2025.