PORTLAND INVESTMENT COUNSEL INC.
Reported holdings as of Q2 2026, from 31 quarterly filings.
Holdings
| Security | Ticker | Value | Shares | Weight | Weight change | Held | Change |
|---|---|---|---|---|---|---|---|
| THE CIGNA GROUP | CI | $62.3M | 226,000 | +11.23pp | 7q | +213.0%+$42.4M | |
| BERKSHIRE HATHAWAY INC DEL | BRKB | $48.3M | 96,477 | -2.64pp | 31q | -8.0%-$4.2M | |
| VERIZON COMMUNICATIONS INC | VZ | $37.9M | 894,200 | -3.36pp | 3q | +3.4%+$1.2M | |
| SOUTH BOW CORP | SOBO | $33.5M | 951,824 | -0.99pp | 7q | -1.9%-$642.4K | |
| OKLO INC | OKLO | $30.8M | 589,480 | -0.76pp | 9q | HELD | |
| TORONTO DOMINION BK ONT | TD | $22.7M | 186,700 | +0.59pp | 31q | -2.8%-$644.4K | |
| BROOKFIELD ASSET MANAGMT LTD | BAM | $18.9M | 422,387 | -0.72pp | 15q | HELD | |
| ARES MANAGEMENT CORPORATION | ARES | $13.5M | 121,074 | -0.47pp | 26q | HELD | |
| DANAHER CORP DEL | DHR | $11.9M | 62,654 | -0.48pp | 30q | HELD | |
| UBER TECHNOLOGIES INC | UBER | $8.7M | 120,500 | - | new | NEW | |
| BROOKFIELD CORP | BN | $4.8M | 112,663 | -0.12pp | 15q | HELD | |
| CARNIVAL CORP | CCL | $4.0M | 139,602 | -0.05pp | 13q | HELD | |
| BLOOM ENERGY CORP | BE | $3.6M | 12,000 | +0.23pp | 6q | -33.3%-$1.8M | |
| CAMECO CORP | CCJ | $3.3M | 32,500 | -0.21pp | 10q | HELD | |
| BANK NOVA SCOTIA B C | BNS | $3.3M | 37,800 | +0.08pp | 2q | HELD | |
| SPDR SERIES TRUST | BIL | $3.2M | 34,524 | +0.42pp | 8q | +118.9%+$1.7M | |
| TELIX PHARMACEUTICAL LTD | TLX | $3.1M | 266,200 | +0.04pp | 4q | HELD | |
| RADNET INC | RDNT | $2.6M | 42,000 | -0.03pp | 13q | HELD | |
| CENTRUS ENERGY CORP | LEU | $2.5M | 14,750 | -0.13pp | 10q | HELD | |
| ALPHABET INC | GOOGL | $2.4M | 6,787 | +0.05pp | 22q | HELD | |
| NVIDIA CORPORATION | NVDA | $2.3M | 11,300 | flat | 7q | HELD | |
| APPLE INC | AAPL | $2.2M | 7,535 | flat | 22q | HELD | |
| AMAZON COM INC | AMZN | $2.1M | 8,825 | flat | 22q | HELD | |
| GOLDMAN SACHS GROUP INC | GS | $2.1M | 2,078 | -0.03pp | 11q | -8.8%-$202.3K | |
| LANTHEUS HLDGS INC | LNTH | $2.0M | 18,000 | +0.12pp | 10q | HELD | |
| BWX TECHNOLOGIES INC | BWXT | $1.9M | 10,000 | -0.11pp | 10q | HELD | |
| JPMORGAN CHASE & CO | JPM | $1.9M | 5,752 | -0.02pp | 22q | HELD | |
| META PLATFORMS INC | META | $1.8M | 3,257 | -0.09pp | 30q | HELD | |
| GE VERNOVA INC | GEV | $1.8M | 1,500 | +0.07pp | 4q | HELD | |
| ELI LILLY & CO | LLY | $1.7M | 1,458 | +0.06pp | 7q | HELD | |
| MICROSOFT CORP | MSFT | $1.2M | 3,279 | -0.05pp | 22q | HELD | |
| X-ENERGY INC | XE | $1.1M | 60,000 | - | new | NEW | |
| NUSCALE PWR CORP | SMR | $1.1M | 105,000 | -0.07pp | 12q | HELD | |
| SYSCO CORP | SYY | $1.0M | 12,125 | - | new | NEW | |
| HEICO CORP NEW | HEI | $994.5K | 2,792 | +0.03pp | 8q | HELD | |
| UNITED PARCEL SVCS INC | UPS | $978.2K | 9,100 | -0.01pp | 5q | HELD | |
| MASTERCARD INCORPORATED | MA | $863.9K | 1,682 | -0.03pp | 22q | HELD | |
| BEONE MEDICINES LTD | ONC | $854.9K | 3,000 | -0.05pp | 10q | HELD | |
| ISORAY INC | CATXXXXX | $852.5K | 250,000 | -0.10pp | 11q | HELD | |
| CONSTELLATION ENERGY CORP | CEG | $844.5K | 3,400 | -0.07pp | 10q | HELD | |
| SPACE EXPLORATION TECHN CORP | SPCX | $693.7K | 4,060 | - | new | NEW | |
| OLEMA PHARMACEUTICALS INC | OLMA | $625.5K | 50,000 | -0.06pp | 8q | HELD | |
| PALO ALTO NETWORKS INC | PANW | $612.5K | 1,796 | +0.08pp | 2q | HELD | |
| SALESFORCE INC | CRM | $607.1K | 3,875 | -0.06pp | 4q | HELD | |
| COINBASE GLOBAL INC | COIN | $570.9K | 3,905 | -0.06pp | 4q | HELD | |
| CROWDSTRIKE HLDGS INC | CRWD | $546.4K | 716 | +0.06pp | 2q | HELD | |
| AMGEN INC UNVERIFIED ID | $543.2K | 1,500 | -0.02pp | 10q | HELD | ||
| IOVANCE BIOTHERAPEUTICS INC | IOVA | $540.8K | 130,000 | flat | 12q | HELD | |
| ICON PUB LTD CO | ICLR | $521.1K | 3,000 | +0.04pp | 8q | HELD | |
| REGENERON PHARMACEUTICALS | REGN | $407.8K | 654 | -0.05pp | 2q | HELD | |
| NUVALENT INC | NUVL | $247.0K | 2,000 | flat | 3q | HELD | |
| ZSCALER INC | ZS | $237.0K | 1,679 | -0.01pp | 2q | HELD | |
| PALANTIR TECHNOLOGIES INC | PLTR | $221.1K | 1,895 | -0.03pp | 2q | HELD | |
| RELAY THERAPEUTICS INC | RLAY | $187.1K | 10,000 | +0.02pp | 8q | HELD | |
| SCHRODINGER INC | SDGR | $162.5K | 10,000 | +0.01pp | 5q | HELD | |
| PLUG PWR INC | PLUG | $135.5K | 50,000 | flat | 12q | HELD | |
| ARVINAS INC | ARVN | $116.3K | 14,000 | -0.02pp | 6q | HELD | |
| BICYCLE THERAPEUTICS PLC | BCYC | $63.6K | 15,000 | flat | 6q | HELD |
By sector
Industry comes from the SIC code on each company's own SEC filings, which is self-reported and sometimes out of date. Derivative exposure is counted with the shares. Securities the SEC assigns no industry - funds, trusts, foreign issues - are shown as not classified rather than dropped.
| Sector | Value | Share |
|---|---|---|
| Insurance | $110.6M | 30.9% |
| Transport & Logistics | $38.5M | 10.8% |
| Telecom & Media | $37.9M | 10.6% |
| Capital Markets | $34.5M | 9.6% |
| Utilities | $31.7M | 8.9% |
| Banks & Lending | $28.4M | 7.9% |
| Instruments & Controls | $11.9M | 3.3% |
| Biotech & Pharma | $10.3M | 2.9% |
| Business Services | $9.6M | 2.7% |
| Semiconductors & Electronics | $7.8M | 2.2% |
| Software & IT Services | $7.1M | 2.0% |
| Mining & Metals | $5.8M | 1.6% |
| Other sectors | $17.3M | 4.8% |
| Not classified | $6.6M | 1.8% |
Quarter by quarter
| Quarter | Value | Positions | New | Added | Trimmed | Exited | Top 10 | Days to file |
|---|---|---|---|---|---|---|---|---|
| Q2 2026 | $357.9M | 58 | 4 | 3 | 5 | 1 | 80.6% | 44 |
| Q1 2026 | $311.6M | 55 | 6 | 20 | 3 | 4 | 81.3% | 44 |
| Q4 2025 | $332.1M | 53 | 3 | 14 | 5 | 2 | 79.3% | 43 |
| Q3 2025 | $365.4M | 52 | 5 | 2 | 5 | 1 | 83.5% | 44 |
| Q2 2025 | $340.0M | 48 | 2 | 16 | 10 | 3 | 85.0% | 44 |
| Q1 2025 | $329.2M | 49 | 5 | 16 | 1 | 8 | 82.7% | 44 |
| Q4 2024 | $389.8M | 52 | 8 | 16 | 3 | 7 | 67.0% | 45 |
| Q3 2024 | $278.4M | 51 | 7 | 10 | 3 | 8 | 78.7% | 45 |
| Q2 2024 | $277.5M | 52 | 3 | 12 | 19 | 3 | 71.7% | 45 |
| Q1 2024 | $332.4K | 52 | 14 | 8 | 11 | 1 | 72.8% | 45 |
| Q4 2023 | $279.4K | 39 | 4 | 12 | 15 | 3 | 75.9% | 45 |
| Q3 2023 | $217.6K | 38 | 5 | 8 | 5 | 3 | 84.4% | 44 |
| Q2 2023 | $202.3K | 36 | 3 | 5 | 13 | 2 | 83.4% | 45 |
| Q1 2023 | $218.6K | 35 | 3 | 6 | 12 | 6 | 82.2% | 42 |
| Q4 2022 | $176.1K | 38 | 4 | 7 | 4 | 3 | 86.7% | 45 |
| Q3 2022 | $155.3M | 37 | 4 | 12 | 5 | 2 | 84.4% | 45 |
| Q2 2022 | $198.6M | 35 | 2 | 11 | 1 | 2 | 84.6% | 43 |
| Q1 2022 | $188.8M | 35 | 1 | 7 | 13 | 3 | 83.7% | 43 |
| Q4 2021 | $229.3M | 37 | 2 | 11 | 3 | 2 | 85.4% | 45 |
| Q3 2021 | $219.4M | 37 | 1 | 8 | 2 | 6 | 85.2% | 43 |
| Q2 2021 | $203.0M | 42 | 3 | 8 | 2 | 0 | 82.0% | 47 |
| Q1 2021 | $181.2M | 39 | 12 | 14 | 5 | 4 | 84.0% | 44 |
| Q4 2020 | $116.6M | 31 | 8 | 5 | 4 | 3 | 87.4% | 43 |
| Q3 2020 | $80.6M | 26 | 1 | 2 | 15 | 0 | 86.8% | 44 |
| Q2 2020 | $86.2M | 25 | 2 | 9 | 9 | 10 | 75.4% | 45 |
| Q1 2020 | $79.6M | 33 | 13 | 5 | 8 | 4 | 79.4% | 45 |
| Q4 2019 | $74.9M | 24 | 1 | 3 | 13 | 13 | 78.5% | 45 |
| Q3 2019 | $90.4M | 36 | 0 | 0 | 29 | 9 | 72.1% | 45 |
| Q2 2019 | $193.4M | 45 | 1 | 9 | 23 | 1 | 66.1% | 45 |
| Q1 2019 | $198.4M | 45 | 14 | 8 | 12 | 0 | 66.7% | 45 |
| Q4 2018 | $130.2M | 31 | 0 | 0 | 0 | 0 | 91.7% | 45 |
Rows marked UNVERIFIED ID, PLACEHOLDER ID, TICKER AS ID or NON-CUSIP ID carry an identifier that is not a valid CUSIP. They are shown because the filer reported that money, but treat the security named with caution - hover the chip for what is wrong with it, and see the methodology.
Held counts consecutive filings in which this manager reported the position, and can reach further back than the quarters listed above: the tabs begin at Q4 2018 because earlier coverage is too sparse to describe a market, but tenure is counted over every filing we hold, some reaching to 2007. A position sold and later rebought starts again from one.
Weight change is the shift in this position's share of the whole book, in percentage points. It is the more useful column: when money flows into or out of a broad fund, almost every holding is bought or sold at once, so added and trimmed largely track flows. A weight that rose while the book shrank is a decision. Both compare with the previous quarter this filer reported, not the previous calendar quarter.