PI

Portland Investment Counsel INC.

Diversified strategyMomentum followerSector-focused

Total reported value

$311.6M

Reporting period: 2026-03-31 · Number of holdings: 55

PORTLAND INVESTMENT COUNSEL INC. disclosed 55 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $311.6M and a quarterly turnover rate of 24.7%.

Personality snowflake

Concentration
33.28
Portfolio Stability
24.7
Momentum/Contrarian
100
Sector conviction
77.16
Diversification
100
Sizing Uniformity
80.91

Recent moves

  • Add SOBO

    +29.2%　$11.6M

  • Trim OKLO

    -5.4%　-$15.4M

  • Add VZ

    0.0%　$8.2M

  • Trim BAM

    +0.3%　-$3.5M

  • Trim ELV

    0.0%　-$3.4M

  • Trim DHR

    0.0%　-$2.6M

Holdings Map

New buyAddUnchangedTrim

Top 10 holdings by weight

Full holdings list this quarter

#TickerIssuerAsset SubclassWeightWeight ChangeShares Change4Q Trend
1BRK-BBerkshire Hathaway Inc-cl BStock-Other16.13%+0.35%+0.76%
2VZVerizon Communications INCStock-Comm Services13.93%+3.32%—
3SOBOSouth Bow CORPStock-Other10.36%+4.14%+29.16%
4OKLOOklo INCStock-Utilities9.38%-4.06%-5.35%
5CITHE Cigna GroupStock-Healthcare6.18%+0.20%—
6BAMBrookfield Asset Mgmt-aStock-Financials6.01%-0.67%+0.28%
7TDToronto-dominion BankStock-Financials5.75%+0.30%—
8ELVElevance Health INCStock-Healthcare5.46%-0.67%—
9ARESAres Management CORP - AStock-Financials4.24%-0.46%+26.48%
10DHRDanaher CORPStock-Healthcare3.81%-0.54%—
11BNBrookfield CORPStock-Financials1.46%-0.01%+6.56%
12CCL1EURCarnival CORP LTDStock-Consumer Disc1.16%-0.13%—
13CCJCameco CORPStock-Energy1.13%+0.30%+8.33%
14BNSBank Of Nova ScotiaStock-Financials0.84%+0.84%NEW
15LEUCentrus Energy Corp-class AStock-Energy0.82%—+31.11%
16TLXTelix Pharmaceuticals LTDStock-Other0.82%+0.20%—
17BEBloom Energy Corp- AStock-Industrials0.78%+0.31%—
18RDNTRadnet INCStock-Healthcare0.75%-0.15%—
19BWXTBwx Technologies INCStock-Industrials0.66%+0.30%+42.86%
20NVDANvidia CORPStock-Tech0.63%—+9.39%
21GOOGLAlphabet Inc-cl AStock-Comm Services0.63%-0.02%-0.73%
22GSGoldman Sachs Group INCStock-Financials0.62%+0.02%+1.20%
23AAPLApple INCStock-Tech0.61%+0.11%+22.84%
24METAMeta Platforms Inc-class AStock-Comm Services0.60%—+8.89%
25AMZNAmazon.com INCStock-Consumer Disc0.59%+0.09%+23.95%
26JPMJpmorgan Chase & CoStock-Financials0.54%+0.25%+91.73%
27BILSs Spdr Bb 1-3m T-bill ETFETF-Gov Bonds0.46%-0.36%-47.10%
28LNTHLantheus Holdings INCStock-Healthcare0.44%+0.08%—
29LLYEli Lilly & CoStock-Healthcare0.43%+0.05%+24.94%
30GEVGE Vernova INCStock-Industrials0.42%+0.12%—
31MSFTMicrosoft CORPStock-Tech0.39%—+24.35%
32SMRNuscale Power CORPStock-Industrials0.37%+0.07%+50.00%
33ISREURIsoray INCStock-Other0.33%+0.12%—
34CEGConstellation EnergyStock-Utilities0.30%-0.06%—
35UPSUnited Parcel Service-cl BStock-Industrials0.29%——
36ONCBeone Medicines Ltd-adrStock-Other0.29%——
37MAMastercard INC - AStock-Financials0.27%+0.03%+23.40%
38HEIHeico CORPStock-Industrials0.25%—+24.42%
39OLMAOlema Pharmaceuticals INCStock-Other0.24%-0.14%—
40CRMSalesforce INCStock-Tech0.23%-0.02%+24.36%
41COINCoinbase Global INC -class AStock-Financials0.22%—+24.48%
42✓ Amgen INCStock-Other0.17%+0.02%—
43REGNRegeneron PharmaceuticalsStock-Healthcare0.16%+0.16%NEW
44IOVAIovance Biotherapeutics INCStock-Other0.15%+0.04%—
45ICLRICON Public Limited CompanyStock-Healthcare0.11%-0.05%—
46PANWPalo Alto Networks INCStock-Tech0.09%+0.09%NEW
47CRWDCrowdstrike Holdings INC - AStock-Tech0.09%+0.09%NEW
48PLTRPalantir Technologies Inc-aStock-Tech0.09%+0.09%NEW
49ZSZscaler INCStock-Tech0.08%+0.08%NEW
50NUVLNuvalent Inc-aStock-Other0.07%——
1–50 of 55

Holding changes this quarter

Portland Investment Counsel INC.'s most significant position changes for 2026-03-31: Sold out: Mosaic Co/the (MOS); New buy: Bank Of Nova Scotia (BNS); Sold out: Baytex Energy CORP (BTE); Sold out: Liberty Latin America Ltd. (LILA); Sold out: Liberty Latin America LTD Com Cl A.

Position changes disclosed by Portland Investment Counsel INC. for the quarter ending 2026-03-31, including ticker, issuer, weight change, shares change, and action
#TickerIssuerWeight ChangeShares ChangeAction
1SOBOSouth Bow CORP+4.1%+29.16%Add
2VZVerizon Communications INC+3.3%—Unchanged
3BRK-BBerkshire Hathaway Inc-cl B+0.4%+0.76%Add
4BEBloom Energy Corp- A+0.3%—Unchanged
5BWXTBwx Technologies INC+0.3%+42.86%Add
6CCJCameco CORP+0.3%+8.33%Add
7TDToronto-dominion Bank+0.3%—Unchanged
8JPMJpmorgan Chase & Co+0.3%+91.73%Add
9CITHE Cigna Group+0.2%—Unchanged
10TLXTelix Pharmaceuticals LTD+0.2%—Unchanged
11ISREURIsoray INC+0.1%—Unchanged
12GEVGE Vernova INC+0.1%—Unchanged
13AAPLApple INC+0.1%+22.84%Add
14AMZNAmazon.com INC+0.1%+23.95%Add
15LNTHLantheus Holdings INC+0.1%—Unchanged
16SMRNuscale Power CORP+0.1%+50.00%Add
17LLYEli Lilly & Co+0.1%+24.94%Add
18IOVAIovance Biotherapeutics INC0%—Unchanged
19MAMastercard INC - A0%+23.40%Add
20GSGoldman Sachs Group INC0%+1.20%Add
21✓ Amgen INC0%—Unchanged
22LEUCentrus Energy Corp-class A—+31.11%Add
23METAMeta Platforms Inc-class A—+8.89%Add
24MSFTMicrosoft CORP—+24.35%Add
25COINCoinbase Global INC -class A—+24.48%Add
26BNBrookfield CORP0%+6.56%Add
27SDGRSchrodinger INC0%—Unchanged
28GOOGLAlphabet Inc-cl A0%-0.73%Trim
29CRMSalesforce INC0%+24.36%Add
30ICLRICON Public Limited Company-0.1%—Unchanged
31CEGConstellation Energy-0.1%—Unchanged
32CCL1EURCarnival CORP LTD-0.1%—Unchanged
33OLMAOlema Pharmaceuticals INC-0.1%—Unchanged
34RDNTRadnet INC-0.2%—Unchanged
35BILSs Spdr Bb 1-3m T-bill ETF-0.4%-47.10%Trim
36ARESAres Management CORP - A-0.5%+26.48%Add
37DHRDanaher CORP-0.5%—Unchanged
38BAMBrookfield Asset Mgmt-a-0.7%+0.28%Add
39ELVElevance Health INC-0.7%—Unchanged
40OKLOOklo INC-4.1%-5.35%Trim
41MOSMosaic Co/the—EXITSold out
42BNSBank Of Nova Scotia—NEWNew buy
43BTEBaytex Energy CORP—EXITSold out
44LILALiberty Latin America Ltd.—EXITSold out
45✓ Liberty Latin America LTD Com Cl A—EXITSold out
46REGNRegeneron Pharmaceuticals—NEWNew buy
47PANWPalo Alto Networks INC—NEWNew buy
48CRWDCrowdstrike Holdings INC - A—NEWNew buy
49PLTRPalantir Technologies Inc-a—NEWNew buy
50ZSZscaler INC—NEWNew buy

FAQ

What is Portland Investment Counsel INC. and what type of investor is it?
Portland Investment Counsel INC. is a investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-03-31), the firm manages a tracked equity portfolio valued at approximately $311.6M, spread across 55 disclosed positions.
What are Portland Investment Counsel INC.'s largest equity positions?
Based on the latest 13F filing, Portland Investment Counsel INC.'s top holdings by market value are: 1. Berkshire Hathaway Inc-cl B (BRK-B) — $50.3M (16.1%) 2. Verizon Communications INC (VZ) — $43.4M (13.9%) 3. South Bow CORP (SOBO) — $32.3M (10.4%) 4. Oklo INC (OKLO) — $29.2M (9.4%) 5. THE Cigna Group (CI) — $19.3M (6.2%)
What changes did Portland Investment Counsel INC. make in its most recent portfolio filing?
In the latest reported quarter, Portland Investment Counsel INC. made 32 notable position adjustments: 6 new positions were initiated, 19 existing holdings were added to, 3 positions were partially reduced, and 4 were completely exited. The largest of these moves: Sold out: Mosaic Co/the (MOS); New buy: Bank Of Nova Scotia (BNS); Sold out: Baytex Energy CORP (BTE); Sold out: Liberty Latin America Ltd. (LILA); Sold out: Liberty Latin America LTD Com Cl A
What sectors does Portland Investment Counsel INC. focus on?
Portland Investment Counsel INC. is concentrated in the following sectors based on its current disclosed equity portfolio: • Financials: 41.5% • Health Care: 19.9% • Communication Services: 17.4% • Utilities: 11.1% • Industrials: 3.2% • Information Technology: 2.5%