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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
+28.77%
1 Year Est. Return
+53.32%
3 Year Est. Return
+103.89%
5 Year Est. Return
+49.43%
10 Year Est. Return
–
AUM
$365M
AUM Growth
+$25.4M
Cap. Flow
-$30.6M
Cap. Flow %
-8.38%
Top 10 Hldgs %
83.49%
Holding
53
New
5
Increased
2
Reduced
5
Closed
1

Top Buys

Rank Stock Value
1
BIL icon
State Street SPDR Bloomberg 1-3 Month T-Bill ETF
BIL
+$2.02M
2
TLX
Telix Pharmaceuticals
TLX
+$1.57M
3
CRM icon
Salesforce
CRM
+$530K
4
LILA icon
Liberty Latin America Class A
LILA
+$524K
5
COIN icon
Coinbase
COIN
+$517K

Top Sells

Rank Stock Value
1
MGA icon
Magna International
MGA
+$21.5M
2
TD icon
Toronto Dominion Bank
TD
+$7.39M
3
SOBO
South Bow Corp
SOBO
+$6.6M
4
LILAK icon
Liberty Latin America Class C
LILAK
+$534K
5
CVE icon
Cenovus Energy
CVE
+$249K

Sector Composition

Rank Sector Weight
1 Financials 39.92%
2 Utilities 23.72%
3 Healthcare 16.72%
4 Energy 7.5%
5 Consumer Discretionary 7.04%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
OKLO
1
Oklo
OKLO
$8.28B
$85.6M 23.42%
766,480
– –
BRK.B icon
2
Berkshire Hathaway Class B
BRK.B
$1.13T
$50.7M 13.87%
100,783
– –
BNS icon
3
Scotiabank
BNS
$108B
$26.5M 7.25%
409,629
– –
BAM icon
4
Brookfield Asset Management
BAM
$84.4B
$23.5M 6.44%
414,100
– –
TD icon
5
Toronto Dominion Bank
TD
$200B
$22.5M 6.16%
281,700
-98,400
-26% -$7.39M
SOBO
6
South Bow Corp
SOBO
$7.49B
$21.3M 5.82%
751,044
-242,600
-24% -$6.6M
MGA icon
7
Magna International
MGA
$18.7B
$20.9M 5.73%
442,068
-488,332
-52% -$21.5M
CI icon
8
Cigna
CI
$73.6B
$20.8M 5.7%
72,200
– –
ELV icon
9
Elevance Health
ELV
$86.2B
$18.8M 5.14%
58,100
– –
ARES icon
10
Ares Management
ARES
$31B
$14.5M 3.97%
90,624
– –
DHR icon
11
Danaher
DHR
$147B
$11.8M 3.24%
59,754
– –
BN icon
12
Brookfield
BN
$109B
$4.13M 1.13%
90,329
– –
LEU icon
13
Centrus Energy
LEU
$3.78B
$3.49M 0.95%
11,250
– –
RDNT icon
14
RadNet
RDNT
$6.08B
$3.2M 0.88%
42,000
– –
CCL icon
15
Carnival Corporation Ltd
CCL
$38B
$3.2M 0.88%
110,702
– –
NVDA icon
16
NVIDIA
NVDA
$5.27T
$2.29M 0.63%
12,271
– –
CCJ icon
17
Cameco
CCJ
$42.4B
$2.01M 0.55%
24,000
– –
GOOGL icon
18
Alphabet (Google) Class A
GOOGL
$4.37T
$2.01M 0.55%
8,266
– –
GS icon
19
Goldman Sachs
GS
$301B
$1.79M 0.49%
2,251
– –
META icon
20
Meta Platforms (Facebook)
META
$1.52T
$1.65M 0.45%
2,250
-250
-10% -$186K
SMR icon
21
NuScale Power
SMR
$3.77B
$1.62M 0.44%
45,000
– –
AMZN icon
22
Amazon
AMZN
$3T
$1.56M 0.43%
7,120
– –
AAPL icon
23
Apple
AAPL
$4.5T
$1.56M 0.43%
6,134
– –
BE icon
24
Bloom Energy
BE
$62B
$1.52M 0.42%
18,000
– –
MSFT icon
25
Microsoft
MSFT
$3.76T
$1.37M 0.37%
2,637
– –
1
2 3

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Portland Investment Counsel's Q3 2025 Portfolio in Review

As of Q3 2025, Portland Investment Counsel held 53 positions worth $365M, up 7.5% from $340M the previous quarter. Its ten largest holdings account for 83% of the portfolio.

Portland Investment Counsel withdrew a net $30.6M in Q3 2025, closing 1 position and reducing 5 holdings. Its most notable exit was Cenovus Energy, an estimated $249K position sold in full.

By sector, the portfolio is most concentrated in Financials at 40% of assets, down from 43% a quarter earlier, followed by Utilities and Healthcare.

Against the trend, Portland Investment Counsel opened a new position in Telix Pharmaceuticals worth $1.22M.

  • Portland Investment Counsel's largest Q3 2025 buy was Telix Pharmaceuticals: 128,000 shares worth $1.22M.
  • Portland Investment Counsel added most to State Street SPDR Bloomberg 1-3 Month T-Bill ETF in Q3 2025, an estimated $2.02M increase.
  • Portland Investment Counsel's biggest Q3 2025 reduction was Magna International, cutting an estimated $21.5M.
  • Portland Investment Counsel fully exited Cenovus Energy in Q3 2025, selling an estimated $249K.
  • Portland Investment Counsel's ten largest holdings make up 83% of its $365M portfolio in Q3 2025.
  • Portland Investment Counsel opened 5 new positions and closed 1 in Q3 2025.
  • Portland Investment Counsel's portfolio value rose 7.5% quarter-over-quarter to $365M.

Based on Portland Investment Counsel's 13F filing for Q3 2025, filed 13 Nov 2025.