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PCJ Investment Counsel Ltd.

Institutional InvestorSimilar funds →SEC EDGAR: CIK 1426318
Institutional-grade research for retail investors

Sector Allocation

  • Materials31.1%$108.2M
  • Industrials21.3%$73.9M
  • Financials16.8%$58.4M
  • Energy13.3%$46.4M
  • Technology8.3%$28.7M
  • Utilities3.3%$11.3M
  • Real Estate2.1%$7.4M
  • Other2.0%$7.0M
  • Communication Services1.4%$4.9M
  • Consumer Discretionary0.4%$1.5M

AUM History

13fpro.ai/research/fund/pcj-investment-counsel-ltd-1426318

Conviction and streaks

Diversifying · top 10 = 38.4%

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.

RY$RYConviction hold4.8% weight · held 10 quartersEFXT$EFXTConviction hold4.3% weight · held 10 quartersTD$TDConviction hold3.9% weight · held 10 quartersCRH$CRHConviction hold3.3% weight · held 8 quartersBIP$BIPConviction hold3.1% weight · held 10 quartersSU$SUAccumulating+37% shares · 5 quarters runningBIP$BIPAccumulating+75% shares · 3 quarters runningTAC$TACAccumulating+2513% shares · 3 quarters runningSHOP$SHOPAccumulating+13% shares · 3 quarters runningCNI$CNIAccumulating+160% shares · 3 quarters runningEFXT$EFXTTrimming-59% shares · 4 quarters runningAEM$AEMTrimming-22% shares · 4 quarters runningNXE$NXETrimming-62% shares · 4 quarters runningIAG$IAGTrimming-48% shares · 3 quarters runningKGC$KGCTrimming-48% shares · 3 quarters running

Largest positions — Q2 2026

Top 20 stock positions. Options are left out: 13F reports them at the underlying's value.

13fpro.ai/research/fund/pcj-investment-counsel-ltd-1426318

PCJ Investment Counsel Ltd. 13F holdings — Q2 2026

$347.9M portfolio (-1.2% QoQ) · 62 holdings · Q2 2026 13F · top 10 are 38% of the stock portfolio

All holdings — PCJ Investment Counsel Ltd. (Q2 2026)

62 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
SHOP$SHOPSHOPIFY INC.$8.8M+3%
BNS$BNSBANK OF NOVA SCOTIA$8.6M+1374%
CAE$CAECAE INC$8.5M-57%
BMO$BMOBANK OF MONTREAL /CAN/$8.2M+8%
CNI$CNICANADIAN NATIONAL RAILWAY CO$7.7M+4%
DNN$DNNDENISON MINES CORP.$7.5M-8%
BN$BNBROOKFIELD Corp /ON/$7.4M+73%
— ETF SER SOLUTIONS - US GLB JETSetf/fund$7.0MNew
ENB$ENBENBRIDGE INC$6.9M+3%
CM$CMCANADIAN IMPERIAL BANK OF COMMERCE /CAN/$6.3M-7%
IAG$IAGIAMGOLD CORP$6.2M-3%
CLS$CLSCELESTICA INC$6.1M+78%
ALM$ALMAlmonty Industries Inc.$6.1M+83%
TGB$TGBTrekor Metals Ltd$5.7M-18%
KNX$KNXKnight-Swift Transportation Holdings Inc.$5.7M+64%

What changed in Q2 2026

Against the previous quarter's 13F: 9 new, 25 added to, 28 trimmed, 6 sold out. Share-count changes; largest moves by dollar size first.

New positions (9)

  • TAC$TACTRANSALTA CORP$9.0M

    first bought this quarter

  • ETF SER SOLUTIONS - US GLB JETS$7.0M

    first bought this quarter

  • OGC$OGCOceanaGold Corp$4.2M

    first bought this quarter

  • TRI$TRITHOMSON REUTERS CORP /CAN/$3.3M

    first bought this quarter

  • GFR$GFRGreenfire Resources Ltd.$2.5M

    first bought this quarter

  • FNV$FNVFRANCO NEVADA Corp$2.2M

    first bought this quarter

+3 more in the Excel export

Added to (25)

  • BNS$BNSBANK OF NOVA SCOTIA+1374%

    now $8.6M · held 10+ qtrs

  • HBM$HBMHudbay Minerals Inc.+194%

    now $11.2M · held 2 qtrs, 2 adds in a row

  • BN$BNBROOKFIELD Corp /ON/+73%

    now $7.4M · held 10+ qtrs

  • ALM$ALMAlmonty Industries Inc.+83%

    now $6.1M · held 2 qtrs, 2 adds in a row

  • CLS$CLSCELESTICA INC+78%

    now $6.1M · held 4 qtrs, 2 adds in a row

  • KNX$KNXKnight-Swift Transportation Holdings Inc.+64%

    now $5.7M · held 3 qtrs, 3 adds in a row

+19 more in the Excel export

Trimmed (28)

  • CAE$CAECAE INC-57%

    now $8.5M · held 7 qtrs

  • BGSI$BGSIBoyd Group Services Inc.-96%

    now $387K · held 3 qtrs, 2 trims in a row

  • BBUC.R1871130$BBUC.R1871130Brookfield Business Corp-20%

    now $23.3M · held 2 qtrs

  • TFII$TFIITFI International Inc.-46%

    now $2.8M · held 3 qtrs

  • EQX$EQXEquinox Gold Corp.-41%

    now $3.2M · held 7 qtrs, 2 trims in a row

  • CGAU$CGAUCenterra Gold Inc.-48%

    now $2.1M · held 9 qtrs

+22 more in the Excel export

Sold out (6)

  • GFL$GFLGFL Environmental Inc.was $7.8M

    held 1 qtr

  • BEPC$BEPCBrookfield Renewable Corpwas $5.6M

    held 1 qtr

  • ORLA$ORLAOrla Mining Ltd.was $4.9M

    held 5 qtrs

  • CVNA$CVNACARVANA CO.was $2.0M

    held 8 qtrs

  • GIB$GIBCGI INCwas $1.5M
  • AGI$AGIALAMOS GOLD INCwas $1.5M

Firm AUM (Form ADV): $924.3M as of 2025-12-31 · SEC IAPD

Share

Holdings by quarter

Every 13F PCJ Investment Counsel Ltd. has filed, 41 earlier quarters. Pick one to see what it held then.

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Q2 2026 13F filed with the SEC on Aug 12, 2026. Prices are closing prices as of Oct 26, 2026.

Average quality of PCJ Investment Counsel Ltd.'s top 20 holdings: 67/100 (our AI quality score, weighted by position size; 10 of the 20 are scored)

Top 10 since filing

+0.6%

Value-weighted move of the 10 largest stock positions

Turnover

20%

Last quarter; 83% over the last 4

Top 10 weight

38%

Share of the stock portfolio in its 10 largest positions

Held 4+ quarters

71%

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 Q1 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

PCJ Investment Counsel Ltd. disclosed 62 positions worth $347.9M in its Form 13F-HR for Q2 2026, led by $BBUC.R1871130 (Brookfield Business Corp) at 6.7% of the equity portfolio, followed by $RY and $EFXT. During the quarter the fund opened 9 new positions and exited 6 — including a new stake in $TAC and a full exit from $GFL. The portfolio is most concentrated in Materials (31.1% of disclosed assets). All figures are sourced directly from PCJ Investment Counsel Ltd.’s Form 13F-HR filing with the SEC under CIK 1426318.

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AI-Powered Hedge Fund Analysis: PCJ Investment Counsel Ltd.

13F Pro is an AI hedge fund tracker and stock research platform. For PCJ Investment Counsel Ltd. (SEC CIK: 1426318), 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 PCJ Investment Counsel Ltd.'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.