Portland Investment Counsel INC. 13F Disclosure & Portfolio Data

CIK: 0001081668

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%.

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Personality snowflake

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

Portland Investment Counsel INC.'s disclosed holdings carry a Herfindahl concentration index of 0.083 — mathematically equivalent to about 12 equally-sized positions, well below its 55 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.

Position sizes vary widely across the portfolio (a coefficient of variation of 1.91), with a handful of outsized bets alongside many smaller positions.

No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.

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

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	BRK-B	Berkshire Hathaway Inc-cl B	Stock-Other	16.13%	+0.35%	+0.76%
2	VZ	Verizon Communications INC	Stock-Comm Services	13.93%	+3.32%	—
3	SOBO	South Bow CORP	Stock-Other	10.36%	+4.14%	+29.16%
4	OKLO	Oklo INC	Stock-Utilities	9.38%	-4.06%	-5.35%
5	CI	THE Cigna Group	Stock-Healthcare	6.18%	+0.20%	—
6	BAM	Brookfield Asset Mgmt-a	Stock-Financials	6.01%	-0.67%	+0.28%
7	TD	Toronto-dominion Bank	Stock-Financials	5.75%	+0.30%	—
8	ELV	Elevance Health INC	Stock-Healthcare	5.46%	-0.67%	—
9	ARES	Ares Management CORP - A	Stock-Financials	4.24%	-0.46%	+26.48%
10	DHR	Danaher CORP	Stock-Healthcare	3.81%	-0.54%	—
11	BN	Brookfield CORP	Stock-Financials	1.46%	-0.01%	+6.56%
12	CCL1EUR	Carnival CORP LTD	Stock-Consumer Disc	1.16%	-0.13%	—
13	CCJ	Cameco CORP	Stock-Energy	1.13%	+0.30%	+8.33%
14	BNS	Bank Of Nova Scotia	Stock-Financials	0.84%	+0.84%	NEW
15	LEU	Centrus Energy Corp-class A	Stock-Energy	0.82%	—	+31.11%
16	TLX	Telix Pharmaceuticals LTD	Stock-Other	0.82%	+0.20%	—
17	BE	Bloom Energy Corp- A	Stock-Industrials	0.78%	+0.31%	—
18	RDNT	Radnet INC	Stock-Healthcare	0.75%	-0.15%	—
19	BWXT	Bwx Technologies INC	Stock-Industrials	0.66%	+0.30%	+42.86%
20	NVDA	Nvidia CORP	Stock-Tech	0.63%	—	+9.39%
21	GOOGL	Alphabet Inc-cl A	Stock-Comm Services	0.63%	-0.02%	-0.73%
22	GS	Goldman Sachs Group INC	Stock-Financials	0.62%	+0.02%	+1.20%
23	AAPL	Apple INC	Stock-Tech	0.61%	+0.11%	+22.84%
24	META	Meta Platforms Inc-class A	Stock-Comm Services	0.60%	—	+8.89%
25	AMZN	Amazon.com INC	Stock-Consumer Disc	0.59%	+0.09%	+23.95%
26	JPM	Jpmorgan Chase & Co	Stock-Financials	0.54%	+0.25%	+91.73%
27	BIL	Ss Spdr Bb 1-3m T-bill ETF	ETF-Gov Bonds	0.46%	-0.36%	-47.10%
28	LNTH	Lantheus Holdings INC	Stock-Healthcare	0.44%	+0.08%	—
29	LLY	Eli Lilly & Co	Stock-Healthcare	0.43%	+0.05%	+24.94%
30	GEV	GE Vernova INC	Stock-Industrials	0.42%	+0.12%	—
31	MSFT	Microsoft CORP	Stock-Tech	0.39%	—	+24.35%
32	SMR	Nuscale Power CORP	Stock-Industrials	0.37%	+0.07%	+50.00%
33	ISREUR	Isoray INC	Stock-Other	0.33%	+0.12%	—
34	CEG	Constellation Energy	Stock-Utilities	0.30%	-0.06%	—
35	UPS	United Parcel Service-cl B	Stock-Industrials	0.29%	—	—
36	ONC	Beone Medicines Ltd-adr	Stock-Other	0.29%	—	—
37	MA	Mastercard INC - A	Stock-Financials	0.27%	+0.03%	+23.40%
38	HEI	Heico CORP	Stock-Industrials	0.25%	—	+24.42%
39	OLMA	Olema Pharmaceuticals INC	Stock-Other	0.24%	-0.14%	—
40	CRM	Salesforce INC	Stock-Tech	0.23%	-0.02%	+24.36%
41	COIN	Coinbase Global INC -class A	Stock-Financials	0.22%	—	+24.48%
42	✓	Amgen INC	Stock-Other	0.17%	+0.02%	—
43	REGN	Regeneron Pharmaceuticals	Stock-Healthcare	0.16%	+0.16%	NEW
44	IOVA	Iovance Biotherapeutics INC	Stock-Other	0.15%	+0.04%	—
45	ICLR	ICON Public Limited Company	Stock-Healthcare	0.11%	-0.05%	—
46	PANW	Palo Alto Networks INC	Stock-Tech	0.09%	+0.09%	NEW
47	CRWD	Crowdstrike Holdings INC - A	Stock-Tech	0.09%	+0.09%	NEW
48	PLTR	Palantir Technologies Inc-a	Stock-Tech	0.09%	+0.09%	NEW
49	ZS	Zscaler INC	Stock-Tech	0.08%	+0.08%	NEW
50	NUVL	Nuvalent Inc-a	Stock-Other	0.07%	—	—

1–50 of 55

Portfolio Performance

Performance for Q3 2026

+4.3%

Performance Last 4 Quarters

+20.9%

Based on 55% of reported portfolio value with available pricing

Stdev: +15.8%
Beta: +0.88
Alpha: +4.1%
Max Drawdown: -8.2%
Annualized Perf: +20.8%
Batting Avg vs S&P: +47.2%
Sortino: +2.81
Stutzer: +0.39
Treynor: +0.23
Sterling: +1.33
Calmar: +2.54
Information Ratio: +0.16
Tracking Error: +11%
Stdev Down: +7.2%
Winning Months %: +63.9%
Losing Months %: +36.1%
Best 12 Months: +50.7%
Worst 12 Months: +10.6%
Efficiency Ratio: +0.55
Sharpe: +1.28
Stdev Sectors: +12.9%
Skewness: +0.33
Kurtosis: -0.36
Upside Potential: +4.59

Reported value over time

Sector allocation

Sector allocation over time

Quarterly history

Period	Holdings	Total value	Stability	Top holdings
2026-03-31	55	$311.6M	25	1BRK-B 2VZ 3SOBO Top holdings2026-03-31 1.BRK-B 2.VZ 3.SOBO 4.OKLO 5.CI 6.BAM 7.TD 8.ELV 9.ARES 10.DHR
2025-12-31	53	$332.1M	47	1BRK-B 2OKLO 3VZ Top holdings2025-12-31 1.BRK-B 2.OKLO 3.VZ 4.BAM 5.SOBO 6.ELV 7.CI 8.TD 9.ARES 10.DHR
2025-09-30	52	$365.4M	47	1OKLO 2BRK-B 3BNS Top holdings2025-09-30 1.OKLO 2.BRK-B 3.BNS 4.BAM 5.TD 6.SOBO 7.MGA 8.CI 9.ELV 10.ARES
2025-06-30	48	$340.0M	0	1BRK-B 2OKLO 3MGA Top holdings2025-06-30 1.BRK-B 2.OKLO 3.MGA 4.TD 5.SOBO 6.CI 7.BAM 8.BNS 9.ELV 10.ARES
2025-03-31	49	$329.2M	100	1BRK-B 2CI 3SOBO Top holdings2025-03-31 1.BRK-B 2.CI 3.SOBO 4.TD 5.ELV 6.MGA 7.CVE 8.BNS 9.BAM 10.OKLO
2024-12-31	52	$389.8M	0	1BRK-B 2CI 3SOBO Top holdings2024-12-31 1.BRK-B 2.CI 3.SOBO 4.TD 5.KHC 6.VZ 7.BNS 8.MGA 9.ELV 10.BAM
2024-09-30	51	$278.4M	0	1BRK-B 2T 3VZ Top holdings2024-09-30 1.BRK-B 2.T 3.VZ 4.BNS 5.C 6.BAM 7.NTR 8.DHR 9.CVS 10.TD
2024-06-30	52	$277.5M	0	1BRK-B 2T 3VZ Top holdings2024-06-30 1.BRK-B 2.T 3.VZ 4.C 5.BNS 6.NTR 7.BAM 8.DHR 9.CVS 10.MGA
2024-03-31	52	$332.4M	0	10311622ONC 3VZ Top holdings2024-03-31 1.031162 2.ONC 3.VZ 4.NTR 5.SBUX 6.META 7.OPTU 8.BNY 9.JPM 10.ARVN
2023-12-31	39	$279.4M	0	1BRK-B 2C 3T Top holdings2023-12-31 1.BRK-B 2.C 3.T 4.VZ 5.CM 6.BNS 7.CVS 8.BMO 9.CCL1EUR 10.DHR
2023-09-30	38	$217.6M	0	1BRK-B 2C 3VZ Top holdings2023-09-30 1.BRK-B 2.C 3.VZ 4.BMO 5.BNS 6.CM 7.VOD 8.FHN 9.BNY 10.CCL1EUR
2023-06-30	36	$202.3M	0	1BRK-B 2C 3BNS Top holdings2023-06-30 1.BRK-B 2.C 3.BNS 4.BMO 5.VOD 6.FHN 7.CCL1EUR 8.VZ 9.BNY 10.TD
2023-03-31	35	$218.6M	0	1C 2BRK-B 3BNS Top holdings2023-03-31 1.C 2.BRK-B 3.BNS 4.BMO 5.VOD 6.FHN 7.BN 8.VZ 9.BNY 10.DHR
2022-12-31	38	$176.1M	0	1C 2BRK-B 3BNS Top holdings2022-12-31 1.C 2.BRK-B 3.BNS 4.BMO 5.VOD 6.VZ 7.BNY 8.DHR 9.OPTU 10.NOMD
2022-09-30	37	$155.3M	0	1C 2BRK-B 3VOD Top holdings2022-09-30 1.C 2.BRK-B 3.VOD 4.BNS 5.BMO 6.BNY 7.DHR 8.BBY 9.OPTU 10.META
2022-06-30	35	$198.6M	0	1BRK-B 2C 3VOD Top holdings2022-06-30 1.BRK-B 2.C 3.VOD 4.OPTU 5.BMO 6.BNS 7.BNY 8.META 9.GE 10.BBY
2022-03-31	35	$188.9M	0	1BRK-B 2OPTU 3VOD Top holdings2022-03-31 1.BRK-B 2.OPTU 3.VOD 4.C 5.BMO 6.BNS 7.BNY 8.GE 9.META 10.DHR
2021-12-31	37	$229.3M	0	1VOD 2OPTU 3BRK-B Top holdings2021-12-31 1.VOD 2.OPTU 3.BRK-B 4.C 5.TRP 6.BNS 7.BNY 8.META 9.GE 10.DHR
2021-09-30	37	$219.4M	0	1SJR-BEUR 2BRK-B 3VOD Top holdings2021-09-30 1.SJR-BEUR 2.BRK-B 3.VOD 4.OPTU 5.C 6.TRP 7.BNY 8.BNS 9.GE 10.DHR
2021-06-30	42	$203.0M	94	1SJR-BEUR 2BRK-B 3VOD Top holdings2021-06-30 1.SJR-BEUR 2.BRK-B 3.VOD 4.C 5.TRP 6.BNS 7.BNY 8.AEP 9.LBTYA 10.DHR
2021-03-31	39	$181.2M	80	1SJR-BEUR 2BRK-B 3VOD Top holdings2021-03-31 1.SJR-BEUR 2.BRK-B 3.VOD 4.C 5.TRP 6.BNS 7.BNY 8.LBTYA 9.DHR 10.BAM
2020-12-31	31	$116.6M	67	1C 2CTLEUR 3BRK-B Top holdings2020-12-31 1.C 2.CTLEUR 3.BRK-B 4.VOD 5.BNS 6.BNY 7.LBTYA 8.CM 9.TD 10.DHR
2020-09-30	26	$80.6M	53	1C 2BRK-B 3CM Top holdings2020-09-30 1.C 2.BRK-B 3.CM 4.CTLEUR 5.MGA 6.BNS 7.BNY 8.GS 9.DHR 10.TD
2020-06-30	25	$86.2M	52	1MGA 2C 3CTLEUR Top holdings2020-06-30 1.MGA 2.C 3.CTLEUR 4.CM 5.BNS 6.DHR 7.BRK-B 8.BNY 9.DHI 10.BAM
2020-03-31	33	$79.6M	73	1MGA 2C 3CTLEUR Top holdings2020-03-31 1.MGA 2.C 3.CTLEUR 4.BNS 5.CM 6.MPC 7.GS 8.PSX 9.BRK-B 10.TD
2019-12-31	24	$74.9M	28	1C 2GS 3BNS Top holdings2019-12-31 1.C 2.GS 3.BNS 4.MGA 5.CM 6.TD 7.BRK-B 8.BPYPN 9.RY 10.BAM
2019-09-30	36	$90.4M	74	1MGA 2CM 3BNS Top holdings2019-09-30 1.MGA 2.CM 3.BNS 4.C 5.TD 6.GS 7.LILA 8.BRK-B 9.BPYPN 10.RY
2019-06-30	45	$193.4M	8	1C 2TD 3GS Top holdings2019-06-30 1.C 2.TD 3.GS 4.BNS 5.MGA 6.MCK 7.CM 8.BRK-B 9.BPYPN 10.LILA
2019-03-31	45	$198.4M	51	1C 2TD 3MGA Top holdings2019-03-31 1.C 2.TD 3.MGA 4.GS 5.MCK 6.BNS 7.CM 8.BPYPN 9.LILA 10.BRK-B
2018-12-31	31	$130.2M	100	1MGA 2TD 3C Top holdings2018-12-31 1.MGA 2.TD 3.C 4.BNS 5.GS 6.MCK 7.CM 8.BPYPN 9.RY 10.BMO
2018-09-30	37	$97.8M	10	1WBA 2FTS 3BNS Top holdings2018-09-30 1.WBA 2.FTS 3.BNS 4.TD 5.CM 6.CCAP 7.BPYPN 8.BTE 9.BRK-B 10.RY
2018-06-30	37	$93.2M	21	1FTS 2WBA 3TD Top holdings2018-06-30 1.FTS 2.WBA 3.TD 4.BNS 5.CM 6.CCAP 7.BTE 8.BPYPN 9.BRK-B 10.ARCC
2018-03-31	37	$108.4M	13	1FTS 2WBA 3TWXCHF Top holdings2018-03-31 1.FTS 2.WBA 3.TWXCHF 4.BNS 5.TD 6.CM 7.CCAP 8.BPYPN 9.BTE 10.BRK-B
2017-12-31	38	$105.7M	100	1FTS 2WBA 3TWXCHF Top holdings2017-12-31 1.FTS 2.WBA 3.TWXCHF 4.BNS 5.TD 6.CM 7.CCAP 8.BTE 9.ARCC 10.BPYPN
2016-09-30	40	$63.6M	45	1WFC 2USA 3CCAP Top holdings2016-09-30 1.WFC 2.USA 3.CCAP 4.C 5.JPM 6.USA 7.BNS 8.BTE 9.ARCC 10.BPYPN
2016-06-30	40	$69.8M	69	1BTE 2USA 3LBTYA Top holdings2016-06-30 1.BTE 2.USA 3.LBTYA 4.CCAP 5.C 6.JPM 7.USA 8.BNS 9.ARCC 10.465685
2016-03-31	37	$48.7M	54	1CCAP 2BTE 3BNS Top holdings2016-03-31 1.CCAP 2.BTE 3.BNS 4.RY 5.ARCC 6.BPYPN 7.IVZ 8.BRK-B 9.JPM 10.BIP
2015-12-31	36	$47.1M	66	1BNS 2DOC 3CCAP Top holdings2015-12-31 1.BNS 2.DOC 3.CCAP 4.BTE 5.RY 6.CM 7.AFL 8.ARCC 9.IVZ 10.JPM
2015-09-30	32	$53.6M	100	1BNS 2AFL 3RY Top holdings2015-09-30 1.BNS 2.AFL 3.RY 4.CCAP 5.IVZ 6.BPYPN 7.BTE 8.ARCC 9.JPM 10.COM
2015-06-30	41	$122.2M	65	1CCAP 2BTE 3BAM Top holdings2015-06-30 1.CCAP 2.BTE 3.BAM 4.BPYPN 5.BNS 6.BIP 7.CM 8.JPM 9.AFL 10.RY
2015-03-31	43	$67.6M	36	1CCAP 2BNS 3JPM Top holdings2015-03-31 1.CCAP 2.BNS 3.JPM 4.CM 5.BTE 6.AFL 7.TD 8.RY 9.T 10.BCE
2014-12-31	42	$72.2M	100	1CCAP 2BTE 3JPM Top holdings2014-12-31 1.CCAP 2.BTE 3.JPM 4.BNS 5.TD 6.RY 7.AFL 8.BEN 9.BIP 10.T
2014-09-30	40	$152.5M	36	1CCAP 2BTE 3BPYPN Top holdings2014-09-30 1.CCAP 2.BTE 3.BPYPN 4.BCE 5.JPM 6.25490A 7.BIP 8.IBM 9.IVZ 10.BNS
2014-06-30	32	$144.0M	100	1CCAP 2BTE 3BCE Top holdings2014-06-30 1.CCAP 2.BTE 3.BCE 4.BPYPN 5.JPM 6.IBM 7.VAL 8.BEN 9.BIP 10.IVZ
2013-09-30	24	$35.6M	33	1JPM 2HSBC 3IBM Top holdings2013-09-30 1.JPM 2.HSBC 3.IBM 4.WFC 5.BCS 6.25490A 7.ABBNY 8.TTEN 9.RCL 10.BAC
2013-06-30	24	$33.6M	0	1JPM 2HSBC 3WFC Top holdings2013-06-30 1.JPM 2.HSBC 3.WFC 4.AFL 5.25490A 6.BCS 7.LYG 8.ABBNY 9.TTEN 10.BAC

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
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	SOBO	South Bow CORP	+4.1%	+29.16%	Add
2	VZ	Verizon Communications INC	+3.3%	—	Unchanged
3	BRK-B	Berkshire Hathaway Inc-cl B	+0.4%	+0.76%	Add
4	BE	Bloom Energy Corp- A	+0.3%	—	Unchanged
5	BWXT	Bwx Technologies INC	+0.3%	+42.86%	Add
6	CCJ	Cameco CORP	+0.3%	+8.33%	Add
7	TD	Toronto-dominion Bank	+0.3%	—	Unchanged
8	JPM	Jpmorgan Chase & Co	+0.3%	+91.73%	Add
9	CI	THE Cigna Group	+0.2%	—	Unchanged
10	TLX	Telix Pharmaceuticals LTD	+0.2%	—	Unchanged
11	ISREUR	Isoray INC	+0.1%	—	Unchanged
12	GEV	GE Vernova INC	+0.1%	—	Unchanged
13	AAPL	Apple INC	+0.1%	+22.84%	Add
14	AMZN	Amazon.com INC	+0.1%	+23.95%	Add
15	LNTH	Lantheus Holdings INC	+0.1%	—	Unchanged
16	SMR	Nuscale Power CORP	+0.1%	+50.00%	Add
17	LLY	Eli Lilly & Co	+0.1%	+24.94%	Add
18	IOVA	Iovance Biotherapeutics INC	0%	—	Unchanged
19	MA	Mastercard INC - A	0%	+23.40%	Add
20	GS	Goldman Sachs Group INC	0%	+1.20%	Add
21	✓	Amgen INC	0%	—	Unchanged
22	LEU	Centrus Energy Corp-class A	—	+31.11%	Add
23	META	Meta Platforms Inc-class A	—	+8.89%	Add
24	MSFT	Microsoft CORP	—	+24.35%	Add
25	COIN	Coinbase Global INC -class A	—	+24.48%	Add
26	BN	Brookfield CORP	0%	+6.56%	Add
27	SDGR	Schrodinger INC	0%	—	Unchanged
28	GOOGL	Alphabet Inc-cl A	0%	-0.73%	Trim
29	CRM	Salesforce INC	0%	+24.36%	Add
30	ICLR	ICON Public Limited Company	-0.1%	—	Unchanged
31	CEG	Constellation Energy	-0.1%	—	Unchanged
32	CCL1EUR	Carnival CORP LTD	-0.1%	—	Unchanged
33	OLMA	Olema Pharmaceuticals INC	-0.1%	—	Unchanged
34	RDNT	Radnet INC	-0.2%	—	Unchanged
35	BIL	Ss Spdr Bb 1-3m T-bill ETF	-0.4%	-47.10%	Trim
36	ARES	Ares Management CORP - A	-0.5%	+26.48%	Add
37	DHR	Danaher CORP	-0.5%	—	Unchanged
38	BAM	Brookfield Asset Mgmt-a	-0.7%	+0.28%	Add
39	ELV	Elevance Health INC	-0.7%	—	Unchanged
40	OKLO	Oklo INC	-4.1%	-5.35%	Trim
41	MOS	Mosaic Co/the	—	EXIT	Sold out
42	BNS	Bank Of Nova Scotia	—	NEW	New buy
43	BTE	Baytex Energy CORP	—	EXIT	Sold out
44	LILA	Liberty Latin America Ltd.	—	EXIT	Sold out
45	✓	Liberty Latin America LTD Com Cl A	—	EXIT	Sold out
46	REGN	Regeneron Pharmaceuticals	—	NEW	New buy
47	PANW	Palo Alto Networks INC	—	NEW	New buy
48	CRWD	Crowdstrike Holdings INC - A	—	NEW	New buy
49	PLTR	Palantir Technologies Inc-a	—	NEW	New buy
50	ZS	Zscaler INC	—	NEW	New buy

Filing History

Period	Filed	Type	EDGAR
2026-03-31	2026-05-14	13F-HR	View on EDGAR
2025-12-31	2026-02-12	13F-HR	View on EDGAR
2025-09-30	2025-11-13	13F-HR	View on EDGAR
2025-06-30	2025-08-13	13F-HR	View on EDGAR
2025-03-31	2025-05-14	13F-HR	View on EDGAR
2024-12-31	2025-02-14	13F-HR	View on EDGAR
2024-09-30	2024-11-14	13F-HR	View on EDGAR
2024-06-30	2024-08-14	13F-HR	View on EDGAR
2024-03-31	2024-05-15	13F-HR	View on EDGAR
2023-12-31	2024-02-14	13F-HR	View on EDGAR
2023-09-30	2023-11-13	13F-HR	View on EDGAR
2023-06-30	2023-08-14	13F-HR	View on EDGAR
2023-03-31	2023-05-12	13F-HR	View on EDGAR
2022-12-31	2023-02-14	13F-HR	View on EDGAR
2022-09-30	2022-11-14	13F-HR	View on EDGAR
2022-06-30	2022-08-12	13F-HR	View on EDGAR
2022-03-31	2022-05-13	13F-HR	View on EDGAR
2021-12-31	2022-02-14	13F-HR	View on EDGAR
2021-09-30	2021-11-12	13F-HR	View on EDGAR
2021-06-30	2021-08-16	Amendment	View on EDGAR
2021-06-30	2021-08-10	13F-HR	View on EDGAR
2021-03-31	2021-05-14	13F-HR	View on EDGAR
2020-12-31	2021-02-12	13F-HR	View on EDGAR
2020-09-30	2020-11-13	13F-HR	View on EDGAR
2020-06-30	2020-08-14	13F-HR	View on EDGAR
2020-03-31	2020-05-15	13F-HR	View on EDGAR
2019-12-31	2020-02-14	13F-HR	View on EDGAR
2019-09-30	2019-11-14	13F-HR	View on EDGAR
2019-06-30	2019-08-14	13F-HR	View on EDGAR
2019-03-31	2019-05-15	13F-HR	View on EDGAR
2018-12-31	2019-02-14	13F-HR	View on EDGAR
2018-09-30	2018-11-14	13F-HR	View on EDGAR
2018-06-30	2018-08-14	13F-HR	View on EDGAR
2018-03-31	2018-05-15	13F-HR	View on EDGAR
2017-12-31	2018-02-14	13F-HR	View on EDGAR
2016-09-30	2016-11-14	13F-HR	View on EDGAR
2016-06-30	2016-08-11	13F-HR	View on EDGAR
2016-03-31	2016-05-12	13F-HR	View on EDGAR
2015-12-31	2016-02-12	13F-HR	View on EDGAR
2015-09-30	2015-11-13	13F-HR	View on EDGAR
2015-06-30	2015-08-14	13F-HR	View on EDGAR
2015-03-31	2015-05-14	13F-HR	View on EDGAR
2014-12-31	2015-02-11	13F-HR	View on EDGAR
2014-09-30	2014-11-14	13F-HR	View on EDGAR
2014-06-30	2014-08-13	13F-HR	View on EDGAR
2013-09-30	2013-11-13	13F-HR	View on EDGAR
2013-06-30	2013-08-02	13F-HR	View on EDGAR

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%

Peer Institutions

Institutions with a similar AUM

Midwest Heritage Bank, FSB

CIK 0001906805

Total reported value

$311.7M

51 stks

2026-03-31

Concentration31.5

Portfolio Stability11.3

Sector conviction77.7

AUM within 0.0% of this institution

View detail

Elyxium Wealth, LLC

CIK 0002043538

Total reported value

$311.8M

644 stks

2026-03-31

Concentration9.3

Portfolio Stability37.2

Sector conviction74.4

AUM within 0.1% of this institution

View detail

Towne Trust Company, N.A

CIK 0001102256

Total reported value

$311.4M

349 stks

2026-03-31

Concentration7.2

Portfolio Stability15.9

Sector conviction48.9

AUM within 0.1% of this institution

View detail

Similar Holdings Style

Institutions with overlapping top holdings

Banyan Capital Management, INC.

CIK 0000846600

Total reported value

$232.1M

55 stks

2026-03-31

Concentration20.1

Portfolio Stability21.1

Sector conviction51.0

2 of the top 5 holdings overlap, including Berkshire Hathaway Inc-cl B

View detail

Moon Capital Management, LLC

CIK 0001410588

Total reported value

$82.4M

40 stks

2020-06-30

Stale — no recent filing

Concentration15.7

Portfolio Stability26.6

Sector conviction100.0

2 of the top 5 holdings overlap, including Berkshire Hathaway Inc-cl B

View detail

Dupree Financial Group, LLC

CIK 0001989251

Total reported value

$248.5M

108 stks

2026-03-31

Concentration12.9

Portfolio Stability30.4

Sector conviction47.1

2 of the top 5 holdings overlap, including Verizon Communications INC

View detail

Portland Investment Counsel INC. 13F Disclosure & Portfolio Data

CIK: 0001081668

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%.

Browse other institutions with $100M to $1B AUM Browse other institutions starting with "P"

Personality snowflake

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

Position sizes vary widely across the portfolio (a coefficient of variation of 1.91), with a handful of outsized bets alongside many smaller positions.

No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.

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

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	BRK-B	Berkshire Hathaway Inc-cl B	Stock-Other	16.13%	+0.35%	+0.76%
2	VZ	Verizon Communications INC	Stock-Comm Services	13.93%	+3.32%	—
3	SOBO	South Bow CORP	Stock-Other	10.36%	+4.14%	+29.16%
4	OKLO	Oklo INC	Stock-Utilities	9.38%	-4.06%	-5.35%
5	CI	THE Cigna Group	Stock-Healthcare	6.18%	+0.20%	—
6	BAM	Brookfield Asset Mgmt-a	Stock-Financials	6.01%	-0.67%	+0.28%
7	TD	Toronto-dominion Bank	Stock-Financials	5.75%	+0.30%	—
8	ELV	Elevance Health INC	Stock-Healthcare	5.46%	-0.67%	—
9	ARES	Ares Management CORP - A	Stock-Financials	4.24%	-0.46%	+26.48%
10	DHR	Danaher CORP	Stock-Healthcare	3.81%	-0.54%	—
11	BN	Brookfield CORP	Stock-Financials	1.46%	-0.01%	+6.56%
12	CCL1EUR	Carnival CORP LTD	Stock-Consumer Disc	1.16%	-0.13%	—
13	CCJ	Cameco CORP	Stock-Energy	1.13%	+0.30%	+8.33%
14	BNS	Bank Of Nova Scotia	Stock-Financials	0.84%	+0.84%	NEW
15	LEU	Centrus Energy Corp-class A	Stock-Energy	0.82%	—	+31.11%
16	TLX	Telix Pharmaceuticals LTD	Stock-Other	0.82%	+0.20%	—
17	BE	Bloom Energy Corp- A	Stock-Industrials	0.78%	+0.31%	—
18	RDNT	Radnet INC	Stock-Healthcare	0.75%	-0.15%	—
19	BWXT	Bwx Technologies INC	Stock-Industrials	0.66%	+0.30%	+42.86%
20	NVDA	Nvidia CORP	Stock-Tech	0.63%	—	+9.39%
21	GOOGL	Alphabet Inc-cl A	Stock-Comm Services	0.63%	-0.02%	-0.73%
22	GS	Goldman Sachs Group INC	Stock-Financials	0.62%	+0.02%	+1.20%
23	AAPL	Apple INC	Stock-Tech	0.61%	+0.11%	+22.84%
24	META	Meta Platforms Inc-class A	Stock-Comm Services	0.60%	—	+8.89%
25	AMZN	Amazon.com INC	Stock-Consumer Disc	0.59%	+0.09%	+23.95%
26	JPM	Jpmorgan Chase & Co	Stock-Financials	0.54%	+0.25%	+91.73%
27	BIL	Ss Spdr Bb 1-3m T-bill ETF	ETF-Gov Bonds	0.46%	-0.36%	-47.10%
28	LNTH	Lantheus Holdings INC	Stock-Healthcare	0.44%	+0.08%	—
29	LLY	Eli Lilly & Co	Stock-Healthcare	0.43%	+0.05%	+24.94%
30	GEV	GE Vernova INC	Stock-Industrials	0.42%	+0.12%	—
31	MSFT	Microsoft CORP	Stock-Tech	0.39%	—	+24.35%
32	SMR	Nuscale Power CORP	Stock-Industrials	0.37%	+0.07%	+50.00%
33	ISREUR	Isoray INC	Stock-Other	0.33%	+0.12%	—
34	CEG	Constellation Energy	Stock-Utilities	0.30%	-0.06%	—
35	UPS	United Parcel Service-cl B	Stock-Industrials	0.29%	—	—
36	ONC	Beone Medicines Ltd-adr	Stock-Other	0.29%	—	—
37	MA	Mastercard INC - A	Stock-Financials	0.27%	+0.03%	+23.40%
38	HEI	Heico CORP	Stock-Industrials	0.25%	—	+24.42%
39	OLMA	Olema Pharmaceuticals INC	Stock-Other	0.24%	-0.14%	—
40	CRM	Salesforce INC	Stock-Tech	0.23%	-0.02%	+24.36%
41	COIN	Coinbase Global INC -class A	Stock-Financials	0.22%	—	+24.48%
42	✓	Amgen INC	Stock-Other	0.17%	+0.02%	—
43	REGN	Regeneron Pharmaceuticals	Stock-Healthcare	0.16%	+0.16%	NEW
44	IOVA	Iovance Biotherapeutics INC	Stock-Other	0.15%	+0.04%	—
45	ICLR	ICON Public Limited Company	Stock-Healthcare	0.11%	-0.05%	—
46	PANW	Palo Alto Networks INC	Stock-Tech	0.09%	+0.09%	NEW
47	CRWD	Crowdstrike Holdings INC - A	Stock-Tech	0.09%	+0.09%	NEW
48	PLTR	Palantir Technologies Inc-a	Stock-Tech	0.09%	+0.09%	NEW
49	ZS	Zscaler INC	Stock-Tech	0.08%	+0.08%	NEW
50	NUVL	Nuvalent Inc-a	Stock-Other	0.07%	—	—

1–50 of 55

Portfolio Performance

Performance for Q3 2026

+4.3%

Performance Last 4 Quarters

+20.9%

Based on 55% of reported portfolio value with available pricing

Stdev: +15.8%
Beta: +0.88
Alpha: +4.1%
Max Drawdown: -8.2%
Annualized Perf: +20.8%
Batting Avg vs S&P: +47.2%
Sortino: +2.81
Stutzer: +0.39
Treynor: +0.23
Sterling: +1.33
Calmar: +2.54
Information Ratio: +0.16
Tracking Error: +11%
Stdev Down: +7.2%
Winning Months %: +63.9%
Losing Months %: +36.1%
Best 12 Months: +50.7%
Worst 12 Months: +10.6%
Efficiency Ratio: +0.55
Sharpe: +1.28
Stdev Sectors: +12.9%
Skewness: +0.33
Kurtosis: -0.36
Upside Potential: +4.59

Reported value over time

Sector allocation

Sector allocation over time

Quarterly history

Period	Holdings	Total value	Stability	Top holdings
2026-03-31	55	$311.6M	25	1BRK-B 2VZ 3SOBO Top holdings2026-03-31 1.BRK-B 2.VZ 3.SOBO 4.OKLO 5.CI 6.BAM 7.TD 8.ELV 9.ARES 10.DHR
2025-12-31	53	$332.1M	47	1BRK-B 2OKLO 3VZ Top holdings2025-12-31 1.BRK-B 2.OKLO 3.VZ 4.BAM 5.SOBO 6.ELV 7.CI 8.TD 9.ARES 10.DHR
2025-09-30	52	$365.4M	47	1OKLO 2BRK-B 3BNS Top holdings2025-09-30 1.OKLO 2.BRK-B 3.BNS 4.BAM 5.TD 6.SOBO 7.MGA 8.CI 9.ELV 10.ARES
2025-06-30	48	$340.0M	0	1BRK-B 2OKLO 3MGA Top holdings2025-06-30 1.BRK-B 2.OKLO 3.MGA 4.TD 5.SOBO 6.CI 7.BAM 8.BNS 9.ELV 10.ARES
2025-03-31	49	$329.2M	100	1BRK-B 2CI 3SOBO Top holdings2025-03-31 1.BRK-B 2.CI 3.SOBO 4.TD 5.ELV 6.MGA 7.CVE 8.BNS 9.BAM 10.OKLO
2024-12-31	52	$389.8M	0	1BRK-B 2CI 3SOBO Top holdings2024-12-31 1.BRK-B 2.CI 3.SOBO 4.TD 5.KHC 6.VZ 7.BNS 8.MGA 9.ELV 10.BAM
2024-09-30	51	$278.4M	0	1BRK-B 2T 3VZ Top holdings2024-09-30 1.BRK-B 2.T 3.VZ 4.BNS 5.C 6.BAM 7.NTR 8.DHR 9.CVS 10.TD
2024-06-30	52	$277.5M	0	1BRK-B 2T 3VZ Top holdings2024-06-30 1.BRK-B 2.T 3.VZ 4.C 5.BNS 6.NTR 7.BAM 8.DHR 9.CVS 10.MGA
2024-03-31	52	$332.4M	0	10311622ONC 3VZ Top holdings2024-03-31 1.031162 2.ONC 3.VZ 4.NTR 5.SBUX 6.META 7.OPTU 8.BNY 9.JPM 10.ARVN
2023-12-31	39	$279.4M	0	1BRK-B 2C 3T Top holdings2023-12-31 1.BRK-B 2.C 3.T 4.VZ 5.CM 6.BNS 7.CVS 8.BMO 9.CCL1EUR 10.DHR
2023-09-30	38	$217.6M	0	1BRK-B 2C 3VZ Top holdings2023-09-30 1.BRK-B 2.C 3.VZ 4.BMO 5.BNS 6.CM 7.VOD 8.FHN 9.BNY 10.CCL1EUR
2023-06-30	36	$202.3M	0	1BRK-B 2C 3BNS Top holdings2023-06-30 1.BRK-B 2.C 3.BNS 4.BMO 5.VOD 6.FHN 7.CCL1EUR 8.VZ 9.BNY 10.TD
2023-03-31	35	$218.6M	0	1C 2BRK-B 3BNS Top holdings2023-03-31 1.C 2.BRK-B 3.BNS 4.BMO 5.VOD 6.FHN 7.BN 8.VZ 9.BNY 10.DHR
2022-12-31	38	$176.1M	0	1C 2BRK-B 3BNS Top holdings2022-12-31 1.C 2.BRK-B 3.BNS 4.BMO 5.VOD 6.VZ 7.BNY 8.DHR 9.OPTU 10.NOMD
2022-09-30	37	$155.3M	0	1C 2BRK-B 3VOD Top holdings2022-09-30 1.C 2.BRK-B 3.VOD 4.BNS 5.BMO 6.BNY 7.DHR 8.BBY 9.OPTU 10.META
2022-06-30	35	$198.6M	0	1BRK-B 2C 3VOD Top holdings2022-06-30 1.BRK-B 2.C 3.VOD 4.OPTU 5.BMO 6.BNS 7.BNY 8.META 9.GE 10.BBY
2022-03-31	35	$188.9M	0	1BRK-B 2OPTU 3VOD Top holdings2022-03-31 1.BRK-B 2.OPTU 3.VOD 4.C 5.BMO 6.BNS 7.BNY 8.GE 9.META 10.DHR
2021-12-31	37	$229.3M	0	1VOD 2OPTU 3BRK-B Top holdings2021-12-31 1.VOD 2.OPTU 3.BRK-B 4.C 5.TRP 6.BNS 7.BNY 8.META 9.GE 10.DHR
2021-09-30	37	$219.4M	0	1SJR-BEUR 2BRK-B 3VOD Top holdings2021-09-30 1.SJR-BEUR 2.BRK-B 3.VOD 4.OPTU 5.C 6.TRP 7.BNY 8.BNS 9.GE 10.DHR
2021-06-30	42	$203.0M	94	1SJR-BEUR 2BRK-B 3VOD Top holdings2021-06-30 1.SJR-BEUR 2.BRK-B 3.VOD 4.C 5.TRP 6.BNS 7.BNY 8.AEP 9.LBTYA 10.DHR
2021-03-31	39	$181.2M	80	1SJR-BEUR 2BRK-B 3VOD Top holdings2021-03-31 1.SJR-BEUR 2.BRK-B 3.VOD 4.C 5.TRP 6.BNS 7.BNY 8.LBTYA 9.DHR 10.BAM
2020-12-31	31	$116.6M	67	1C 2CTLEUR 3BRK-B Top holdings2020-12-31 1.C 2.CTLEUR 3.BRK-B 4.VOD 5.BNS 6.BNY 7.LBTYA 8.CM 9.TD 10.DHR
2020-09-30	26	$80.6M	53	1C 2BRK-B 3CM Top holdings2020-09-30 1.C 2.BRK-B 3.CM 4.CTLEUR 5.MGA 6.BNS 7.BNY 8.GS 9.DHR 10.TD
2020-06-30	25	$86.2M	52	1MGA 2C 3CTLEUR Top holdings2020-06-30 1.MGA 2.C 3.CTLEUR 4.CM 5.BNS 6.DHR 7.BRK-B 8.BNY 9.DHI 10.BAM
2020-03-31	33	$79.6M	73	1MGA 2C 3CTLEUR Top holdings2020-03-31 1.MGA 2.C 3.CTLEUR 4.BNS 5.CM 6.MPC 7.GS 8.PSX 9.BRK-B 10.TD
2019-12-31	24	$74.9M	28	1C 2GS 3BNS Top holdings2019-12-31 1.C 2.GS 3.BNS 4.MGA 5.CM 6.TD 7.BRK-B 8.BPYPN 9.RY 10.BAM
2019-09-30	36	$90.4M	74	1MGA 2CM 3BNS Top holdings2019-09-30 1.MGA 2.CM 3.BNS 4.C 5.TD 6.GS 7.LILA 8.BRK-B 9.BPYPN 10.RY
2019-06-30	45	$193.4M	8	1C 2TD 3GS Top holdings2019-06-30 1.C 2.TD 3.GS 4.BNS 5.MGA 6.MCK 7.CM 8.BRK-B 9.BPYPN 10.LILA
2019-03-31	45	$198.4M	51	1C 2TD 3MGA Top holdings2019-03-31 1.C 2.TD 3.MGA 4.GS 5.MCK 6.BNS 7.CM 8.BPYPN 9.LILA 10.BRK-B
2018-12-31	31	$130.2M	100	1MGA 2TD 3C Top holdings2018-12-31 1.MGA 2.TD 3.C 4.BNS 5.GS 6.MCK 7.CM 8.BPYPN 9.RY 10.BMO
2018-09-30	37	$97.8M	10	1WBA 2FTS 3BNS Top holdings2018-09-30 1.WBA 2.FTS 3.BNS 4.TD 5.CM 6.CCAP 7.BPYPN 8.BTE 9.BRK-B 10.RY
2018-06-30	37	$93.2M	21	1FTS 2WBA 3TD Top holdings2018-06-30 1.FTS 2.WBA 3.TD 4.BNS 5.CM 6.CCAP 7.BTE 8.BPYPN 9.BRK-B 10.ARCC
2018-03-31	37	$108.4M	13	1FTS 2WBA 3TWXCHF Top holdings2018-03-31 1.FTS 2.WBA 3.TWXCHF 4.BNS 5.TD 6.CM 7.CCAP 8.BPYPN 9.BTE 10.BRK-B
2017-12-31	38	$105.7M	100	1FTS 2WBA 3TWXCHF Top holdings2017-12-31 1.FTS 2.WBA 3.TWXCHF 4.BNS 5.TD 6.CM 7.CCAP 8.BTE 9.ARCC 10.BPYPN
2016-09-30	40	$63.6M	45	1WFC 2USA 3CCAP Top holdings2016-09-30 1.WFC 2.USA 3.CCAP 4.C 5.JPM 6.USA 7.BNS 8.BTE 9.ARCC 10.BPYPN
2016-06-30	40	$69.8M	69	1BTE 2USA 3LBTYA Top holdings2016-06-30 1.BTE 2.USA 3.LBTYA 4.CCAP 5.C 6.JPM 7.USA 8.BNS 9.ARCC 10.465685
2016-03-31	37	$48.7M	54	1CCAP 2BTE 3BNS Top holdings2016-03-31 1.CCAP 2.BTE 3.BNS 4.RY 5.ARCC 6.BPYPN 7.IVZ 8.BRK-B 9.JPM 10.BIP
2015-12-31	36	$47.1M	66	1BNS 2DOC 3CCAP Top holdings2015-12-31 1.BNS 2.DOC 3.CCAP 4.BTE 5.RY 6.CM 7.AFL 8.ARCC 9.IVZ 10.JPM
2015-09-30	32	$53.6M	100	1BNS 2AFL 3RY Top holdings2015-09-30 1.BNS 2.AFL 3.RY 4.CCAP 5.IVZ 6.BPYPN 7.BTE 8.ARCC 9.JPM 10.COM
2015-06-30	41	$122.2M	65	1CCAP 2BTE 3BAM Top holdings2015-06-30 1.CCAP 2.BTE 3.BAM 4.BPYPN 5.BNS 6.BIP 7.CM 8.JPM 9.AFL 10.RY
2015-03-31	43	$67.6M	36	1CCAP 2BNS 3JPM Top holdings2015-03-31 1.CCAP 2.BNS 3.JPM 4.CM 5.BTE 6.AFL 7.TD 8.RY 9.T 10.BCE
2014-12-31	42	$72.2M	100	1CCAP 2BTE 3JPM Top holdings2014-12-31 1.CCAP 2.BTE 3.JPM 4.BNS 5.TD 6.RY 7.AFL 8.BEN 9.BIP 10.T
2014-09-30	40	$152.5M	36	1CCAP 2BTE 3BPYPN Top holdings2014-09-30 1.CCAP 2.BTE 3.BPYPN 4.BCE 5.JPM 6.25490A 7.BIP 8.IBM 9.IVZ 10.BNS
2014-06-30	32	$144.0M	100	1CCAP 2BTE 3BCE Top holdings2014-06-30 1.CCAP 2.BTE 3.BCE 4.BPYPN 5.JPM 6.IBM 7.VAL 8.BEN 9.BIP 10.IVZ
2013-09-30	24	$35.6M	33	1JPM 2HSBC 3IBM Top holdings2013-09-30 1.JPM 2.HSBC 3.IBM 4.WFC 5.BCS 6.25490A 7.ABBNY 8.TTEN 9.RCL 10.BAC
2013-06-30	24	$33.6M	0	1JPM 2HSBC 3WFC Top holdings2013-06-30 1.JPM 2.HSBC 3.WFC 4.AFL 5.25490A 6.BCS 7.LYG 8.ABBNY 9.TTEN 10.BAC

Holding changes this quarter

Position changes disclosed by Portland Investment Counsel INC. for the quarter ending 2026-03-31, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	SOBO	South Bow CORP	+4.1%	+29.16%	Add
2	VZ	Verizon Communications INC	+3.3%	—	Unchanged
3	BRK-B	Berkshire Hathaway Inc-cl B	+0.4%	+0.76%	Add
4	BE	Bloom Energy Corp- A	+0.3%	—	Unchanged
5	BWXT	Bwx Technologies INC	+0.3%	+42.86%	Add
6	CCJ	Cameco CORP	+0.3%	+8.33%	Add
7	TD	Toronto-dominion Bank	+0.3%	—	Unchanged
8	JPM	Jpmorgan Chase & Co	+0.3%	+91.73%	Add
9	CI	THE Cigna Group	+0.2%	—	Unchanged
10	TLX	Telix Pharmaceuticals LTD	+0.2%	—	Unchanged
11	ISREUR	Isoray INC	+0.1%	—	Unchanged
12	GEV	GE Vernova INC	+0.1%	—	Unchanged
13	AAPL	Apple INC	+0.1%	+22.84%	Add
14	AMZN	Amazon.com INC	+0.1%	+23.95%	Add
15	LNTH	Lantheus Holdings INC	+0.1%	—	Unchanged
16	SMR	Nuscale Power CORP	+0.1%	+50.00%	Add
17	LLY	Eli Lilly & Co	+0.1%	+24.94%	Add
18	IOVA	Iovance Biotherapeutics INC	0%	—	Unchanged
19	MA	Mastercard INC - A	0%	+23.40%	Add
20	GS	Goldman Sachs Group INC	0%	+1.20%	Add
21	✓	Amgen INC	0%	—	Unchanged
22	LEU	Centrus Energy Corp-class A	—	+31.11%	Add
23	META	Meta Platforms Inc-class A	—	+8.89%	Add
24	MSFT	Microsoft CORP	—	+24.35%	Add
25	COIN	Coinbase Global INC -class A	—	+24.48%	Add
26	BN	Brookfield CORP	0%	+6.56%	Add
27	SDGR	Schrodinger INC	0%	—	Unchanged
28	GOOGL	Alphabet Inc-cl A	0%	-0.73%	Trim
29	CRM	Salesforce INC	0%	+24.36%	Add
30	ICLR	ICON Public Limited Company	-0.1%	—	Unchanged
31	CEG	Constellation Energy	-0.1%	—	Unchanged
32	CCL1EUR	Carnival CORP LTD	-0.1%	—	Unchanged
33	OLMA	Olema Pharmaceuticals INC	-0.1%	—	Unchanged
34	RDNT	Radnet INC	-0.2%	—	Unchanged
35	BIL	Ss Spdr Bb 1-3m T-bill ETF	-0.4%	-47.10%	Trim
36	ARES	Ares Management CORP - A	-0.5%	+26.48%	Add
37	DHR	Danaher CORP	-0.5%	—	Unchanged
38	BAM	Brookfield Asset Mgmt-a	-0.7%	+0.28%	Add
39	ELV	Elevance Health INC	-0.7%	—	Unchanged
40	OKLO	Oklo INC	-4.1%	-5.35%	Trim
41	MOS	Mosaic Co/the	—	EXIT	Sold out
42	BNS	Bank Of Nova Scotia	—	NEW	New buy
43	BTE	Baytex Energy CORP	—	EXIT	Sold out
44	LILA	Liberty Latin America Ltd.	—	EXIT	Sold out
45	✓	Liberty Latin America LTD Com Cl A	—	EXIT	Sold out
46	REGN	Regeneron Pharmaceuticals	—	NEW	New buy
47	PANW	Palo Alto Networks INC	—	NEW	New buy
48	CRWD	Crowdstrike Holdings INC - A	—	NEW	New buy
49	PLTR	Palantir Technologies Inc-a	—	NEW	New buy
50	ZS	Zscaler INC	—	NEW	New buy

Filing History

Period	Filed	Type	EDGAR
2026-03-31	2026-05-14	13F-HR	View on EDGAR
2025-12-31	2026-02-12	13F-HR	View on EDGAR
2025-09-30	2025-11-13	13F-HR	View on EDGAR
2025-06-30	2025-08-13	13F-HR	View on EDGAR
2025-03-31	2025-05-14	13F-HR	View on EDGAR
2024-12-31	2025-02-14	13F-HR	View on EDGAR
2024-09-30	2024-11-14	13F-HR	View on EDGAR
2024-06-30	2024-08-14	13F-HR	View on EDGAR
2024-03-31	2024-05-15	13F-HR	View on EDGAR
2023-12-31	2024-02-14	13F-HR	View on EDGAR
2023-09-30	2023-11-13	13F-HR	View on EDGAR
2023-06-30	2023-08-14	13F-HR	View on EDGAR
2023-03-31	2023-05-12	13F-HR	View on EDGAR
2022-12-31	2023-02-14	13F-HR	View on EDGAR
2022-09-30	2022-11-14	13F-HR	View on EDGAR
2022-06-30	2022-08-12	13F-HR	View on EDGAR
2022-03-31	2022-05-13	13F-HR	View on EDGAR
2021-12-31	2022-02-14	13F-HR	View on EDGAR
2021-09-30	2021-11-12	13F-HR	View on EDGAR
2021-06-30	2021-08-16	Amendment	View on EDGAR
2021-06-30	2021-08-10	13F-HR	View on EDGAR
2021-03-31	2021-05-14	13F-HR	View on EDGAR
2020-12-31	2021-02-12	13F-HR	View on EDGAR
2020-09-30	2020-11-13	13F-HR	View on EDGAR
2020-06-30	2020-08-14	13F-HR	View on EDGAR
2020-03-31	2020-05-15	13F-HR	View on EDGAR
2019-12-31	2020-02-14	13F-HR	View on EDGAR
2019-09-30	2019-11-14	13F-HR	View on EDGAR
2019-06-30	2019-08-14	13F-HR	View on EDGAR
2019-03-31	2019-05-15	13F-HR	View on EDGAR
2018-12-31	2019-02-14	13F-HR	View on EDGAR
2018-09-30	2018-11-14	13F-HR	View on EDGAR
2018-06-30	2018-08-14	13F-HR	View on EDGAR
2018-03-31	2018-05-15	13F-HR	View on EDGAR
2017-12-31	2018-02-14	13F-HR	View on EDGAR
2016-09-30	2016-11-14	13F-HR	View on EDGAR
2016-06-30	2016-08-11	13F-HR	View on EDGAR
2016-03-31	2016-05-12	13F-HR	View on EDGAR
2015-12-31	2016-02-12	13F-HR	View on EDGAR
2015-09-30	2015-11-13	13F-HR	View on EDGAR
2015-06-30	2015-08-14	13F-HR	View on EDGAR
2015-03-31	2015-05-14	13F-HR	View on EDGAR
2014-12-31	2015-02-11	13F-HR	View on EDGAR
2014-09-30	2014-11-14	13F-HR	View on EDGAR
2014-06-30	2014-08-13	13F-HR	View on EDGAR
2013-09-30	2013-11-13	13F-HR	View on EDGAR
2013-06-30	2013-08-02	13F-HR	View on EDGAR