PORTLAND INVESTMENT COUNSEL INC.
Sector Allocation
- Financials31.3%$112.1M
- Healthcare24.6%$87.9M
- Communication Services10.6%$37.9M
- Energy9.4%$33.5M
- Utilities8.8%$31.7M
- Technology7.1%$25.3M
- Industrials3.3%$11.8M
- Materials1.6%$5.8M
- Real Estate1.3%$4.8M
- Other1.1%$4.0M
AUM History
13fpro.ai/research/fund/portland-investment-counsel-inc-1081668
Conviction and streaks
Stable · top 10 = 80.6%From the fund's last 12 quarters of 13F filings: positions held longest at size, and names it added to or trimmed several quarters running.
Largest positions — Q2 2026
CI
$62.3MBRK.B
$48.3MVZ
$37.9MSOBO
$33.5MOKLO
$30.8MTD
$22.7MBAM
$18.9MARES
$13.5MDHR
$11.9MUBER
$8.7MBN
$4.8MCCL
$4.0MBE
$3.6MCCJ
$3.3MBNS
$3.3M- SPDR$3.2M
TLX
$3.1MRDNT
$2.6MLEU
$2.5MGOOGL
$2.4M
Top 20 stock positions. Options are left out: 13F reports them at the underlying's value.
13fpro.ai/research/fund/portland-investment-counsel-inc-1081668
PORTLAND INVESTMENT COUNSEL INC. 13F holdings — Q2 2026
$357.9M portfolio (+14.9% QoQ) · 58 holdings · Q2 2026 13F · top 10 are 81% of the stock portfolio
$62.3M
17.4% of stocks
+213%This quarter+10.0%Since filed7 qtrsHeld$48.3M
13.5% of stocks
-8%This quarter—Since filed9+ qtrsHeld$37.9M
10.6% of stocks
+3%This quarter-10.6%Since filed3 qtrsHeld$33.5M
9.4% of stocks
-2%This quarter-2.5%Since filed7 qtrsHeld$30.8M
8.6% of stocks
No changeThis quarter-44.2%Since filed9+ qtrsHeld$22.7M
6.3% of stocks
-3%This quarter+1.8%Since filed9+ qtrsHeld$18.9M
5.3% of stocks
No changeThis quarter-15.8%Since filed9+ qtrsHeld$13.5M
3.8% of stocks
No changeThis quarter-18.4%Since filed9+ qtrsHeld$11.9M
3.3% of stocks
No changeThis quarter+14.3%Since filed9+ qtrsHeld$8.7M
2.4% of stocks
NewThis quarter-12.8%Since filedNew this quarterHeld
All holdings — PORTLAND INVESTMENT COUNSEL INC. (Q2 2026)
58 disclosed positions from the Form 13F-HR on SEC EDGAR, with quarter-over-quarter share changes. Largest by value first; the ten above are not repeated.
| # | Company | Held | Source | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 11 | BROOKFIELD Corp /ON/ | Real Estate | $4.8M | 1.3% | 113K | — | 9+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 12 | Carnival Corp Ltd. | Industrials | $4.0M | 1.1% | 140K | — | 9+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 13 | Bloom Energy Corp | Technology | $3.6M | 1.0% | 12K | -33% | 6 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 14 | CAMECO CORP | Materials | $3.3M | 0.9% | 33K | — | 9+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 15 | BANK OF NOVA SCOTIA | Financials | $3.3M | 0.9% | 38K | — | 2 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 16 | — | SPDR SER TR - BLOOMBERG 1-3 MOetf/fund | — | $3.2M | 0.9% | 35K | +119% | — | — | 13F |
| 17 | Telix Pharmaceuticals Ltdadr | Healthcare | $3.1M | 0.9% | 266K | — | 4 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 18 | RadNet, Inc. | Healthcare | $2.6M | 0.7% | 42K | — | 9+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 19 | CENTRUS ENERGY CORP | Materials | $2.5M | 0.7% | 15K | — | 9+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 20 | Alphabet Inc. | Technology | $2.4M | 0.7% | 6,787 | — | 9+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 21 | NVIDIA CORP | Technology | $2.3M | 0.6% | 11K | — | 7 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 22 | Apple Inc. | Technology | $2.2M | 0.6% | 7,535 | — | 9+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 23 | AMAZON COM INC | Consumer Discretionary | $2.1M | 0.6% | 8,825 | — | 9+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 24 | GOLDMAN SACHS GROUP INC | Financials | $2.1M | 0.6% | 2,078 | -9% | 9+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 25 | Lantheus Holdings, Inc. | Healthcare | $2.0M | 0.6% | 18K | — | 9+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 26 | $BWXT | BWX Technologies, Inc. | Industrials | $1.9M | 0.5% | 10K | — | |||
| 27 | $JPM | JPMORGAN CHASE & CO | Financials | $1.9M | 0.5% | 5,752 | — | |||
| 28 | $META | Meta Platforms, Inc. | Technology | $1.8M | 0.5% | 3,257 | — | |||
| 29 | $GEV | GE Vernova Inc. | Industrials | $1.8M | 0.5% | 1,500 | — | |||
| 30 | $LLY | ELI LILLY & Co | Healthcare | $1.7M | 0.5% | 1,458 | — | |||
| 31 | $MSFT | MICROSOFT CORP | Technology | $1.2M | 0.3% | 3,279 | — | |||
| 32 | $XE | X-Energy, Inc. | Industrials | $1.1M | 0.3% | 60K | New | |||
| 33 | $SMR | NUSCALE POWER Corp | Industrials | $1.1M | 0.3% | 105K | — | |||
| 34 | $SYY | SYSCO CORP | Consumer Discretionary | $1.0M | 0.3% | 12K | New | |||
| 35 | $HEI | HEICO CORP | Industrials | $994K | 0.3% | 2,792 | — | |||
| 36 | $UPS | UNITED PARCEL SERVICE INC | Industrials | $978K | 0.3% | 9,100 | — | |||
| 37 | $MA | Mastercard Inc | Financials | $864K | 0.2% | 1,682 | — | |||
| 38 | $ONC | BeOne Medicines Ltd. | Healthcare | $855K | 0.2% | 3,000 | — | |||
| 39 | — | PERSPECTIVE THERAPEUTICS INC - COM | — | $853K | 0.2% | 250K | — | |||
| 40 | $CEG | Constellation Energy Corp | Utilities | $844K | 0.2% | 3,400 | — | |||
| 41 | $SPCX | SPACE EXPLORATION TECHNOLOGIES CORP | Technology | $694K | 0.2% | 4,060 | New | |||
| 42 | $OLMA | Olema Pharmaceuticals, Inc. | Healthcare | $626K | 0.2% | 50K | — | |||
| 43 | $PANW | Palo Alto Networks Inc | Technology | $612K | 0.2% | 1,796 | — | |||
| 44 | $CRM | Salesforce, Inc. | Technology | $607K | 0.2% | 3,875 | — | |||
| 45 | $COIN | Coinbase Global, Inc. | Financials | $571K | 0.2% | 3,905 | — | |||
| 46 | $CRWD | CrowdStrike Holdings, Inc. | Technology | $546K | 0.1% | 716 | — | |||
| 47 | $AMGN | AMGEN INC | Healthcare | $543K | 0.1% | 1,500 | — | |||
| 48 | $IOVA | IOVANCE BIOTHERAPEUTICS, INC. | Healthcare | $541K | 0.1% | 130K | — | |||
| 49 | $ICLR | ICON PLC | Healthcare | $521K | 0.1% | 3,000 | — | |||
| 50 | $REGN | REGENERON PHARMACEUTICALS, INC. | Healthcare | $408K | 0.1% | 654 | — | |||
| 51 | $NUVL | Nuvalent, Inc. | Healthcare | $247K | 0.1% | 2,000 | — | |||
| 52 | $ZS | Zscaler, Inc. | Technology | $237K | 0.1% | 1,679 | — | |||
| 53 | $PLTR | Palantir Technologies Inc. | Technology | $221K | 0.1% | 1,895 | — | |||
| 54 | $RLAY | Relay Therapeutics, Inc. | Healthcare | $187K | 0.1% | 10K | — | |||
| 55 | $SDGR | Schrodinger, Inc. | Healthcare | $163K | 0.1% | 10K | — | |||
| 56 | $PLUG | PLUG POWER INC | Technology | $136K | 0.0% | 50K | — | |||
| 57 | $ARVN | ARVINAS, INC. | Healthcare | $116K | 0.0% | 14K | — | |||
| 58 | $BCYC | BICYCLE THERAPEUTICS PLC | Healthcare | $64K | 0.0% | 15K | — |
What changed in Q2 2026
Against the previous quarter's 13F: 4 new, 3 added to, 5 trimmed, 1 sold out. Share-count changes; largest moves by dollar size first.
Holdings by quarter
Every 13F PORTLAND INVESTMENT COUNSEL INC. has filed, 40 earlier quarters. Pick one to see what it held then.
Is it too late to follow PORTLAND INVESTMENT COUNSEL?
Q2 2026 13F filed with the SEC on Aug 13, 2026. Prices are closing prices as of Oct 26, 2026.
Average quality of PORTLAND INVESTMENT COUNSEL's top 20 holdings: 69/100 (our AI quality score, weighted by position size; 13 of the 20 are scored)
Top 10 since filing
-7.0%
Value-weighted move of the 10 largest stock positions
Turnover
7%
Last quarter; 31% over the last 4
Top 10 weight
81%
Share of the stock portfolio in its 10 largest positions
Held 4+ quarters
85%
Share of portfolio value in positions held a year or more
Highest-quality names it owns(among its 100 largest positions)
The 8 highest-scoring companies in this portfolio are a Pro feature.
How these are measured
- Moves since the quarter-end and since the filing date use our own daily closing prices, from the close on (or just before) each date to the latest close.
- Turnover is the lesser of shares bought or sold in a quarter, valued at the quarter-end prices in the 13F, divided by the average of the two quarters' stock portfolio values.
- Quarters held and add/trim streaks count back only through quarters whose filed holdings add up to the filing's own cover-page total (back to Q2 2024 for this fund). A change counts as an add or a trim when the split-adjusted share count moves by more than 1%.
- Estimate, not the fund's reported cost. For each quarter in the current holding period in which the fund's share count rose (split-adjusted), we take that quarter's average daily close and weight it by the shares added; sales do not change an average cost. Quarters where the stock's price history and the 13F's own implied price disagree by more than 2x are left out.
- Put and call option rows report the value of the underlying shares, not a position the fund paid for, so they are left out of all of the above.
Portfolio Overview
PORTLAND INVESTMENT COUNSEL INC. disclosed 58 positions worth $357.9M in its Form 13F-HR for Q2 2026, led by $CI (Cigna Group) at 17.4% of the equity portfolio, followed by $BRK.B and $VZ. During the quarter the fund opened 4 new positions and exited 1 — including a new stake in $UBER and a full exit from $ELV. The portfolio is most concentrated in Financials (31.3% of disclosed assets). All figures are sourced directly from PORTLAND INVESTMENT COUNSEL INC.’s Form 13F-HR filing with the SEC under CIK 1081668.
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AI-Powered Hedge Fund Analysis: PORTLAND INVESTMENT COUNSEL INC.
13F Pro is an AI hedge fund tracker and stock research platform. For PORTLAND INVESTMENT COUNSEL INC. (SEC CIK: 1081668), the platform ingests every quarterly Form 13F filing and applies AI-powered analysis on top — 10 specialized AI analysts (value, growth, momentum, macro, activist, and more) debate the fund's top positions and publish AI-generated analysis with cited SEC sources.
Every holding in PORTLAND INVESTMENT COUNSEL INC.'s portfolio is scored on an AI quality ranking built from its SEC filings (ROIC, FCF margin, revenue growth, institutional flow, earnings quality, shareholder dilution, and more). Track accumulation and distribution quarter over quarter, identify conviction positions, and see AI stock analysis for each position — alongside 8,700+ other institutional filers and 2,800+ AI-ranked companies.