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Portfolio (Quarterly) Guide ↗

PORTLAND INVESTMENT COUNSEL INC.

· CIK 0001081668
13F Portfolio $312M AUM 55 positions Filed May 14, 2026 EDGAR ↗ ← All Funds
Q1 2026 Q4 2025 · All 6 New 20 Added 3 Reduced 4 Exited
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
1 BERKSHIRE HATHAWAY INC DEL 104,877.0 $50.3M 16.13% +794.0 +0.8% $479.20
2 SOUTH BOW CORP 970,061.0 $32.3M 10.36% +219K +29.2% $33.27
3 ARES ARES MANAGEMENT CORPORATION Financial Services 121,074.0 $13.2M 4.24% +25K +26.5% $109.10 +14.4%
4 BN BROOKFIELD CORP Financial Services 112,663.0 $4.6M 1.46% +7K +6.6% $40.47 +13.0%
5 CCJ CAMECO CORP Energy 32,500.0 $3.5M 1.13% +2K +8.3% $108.75 -0.5%
6 LEU CENTRUS ENERGY CORP Energy 14,750.0 $2.6M 0.82% +4K +31.1% $173.59 +5.8%
7 BWXT BWX TECHNOLOGIES INC Industrials 10,000.0 $2.0M 0.66% +3K +42.9% $204.49 -0.2%
8 NVDA NVIDIA CORPORATION Technology 11,300.0 $2.0M 0.63% +970.0 +9.4% $174.40 +22.4%
9 GS GOLDMAN SACHS GROUP INC Financial Services 2,278.0 $1.9M 0.62% +27.0 +1.2% $845.99 +17.0%
10 AAPL APPLE INC Technology 7,535.0 $1.9M 0.61% +1K +22.8% $253.79 +21.5%
11 META META PLATFORMS INC Communication Services 3,257.0 $1.9M 0.60% +266.0 +8.9% $572.13 +6.5%
12 AMZN AMAZON COM INC Consumer Cyclical 8,825.0 $1.8M 0.59% +2K +23.9% $208.27 +26.9%
13 JPM JPMORGAN CHASE & CO Financial Services 5,752.0 $1.7M 0.54% +3K +91.7% $294.16 +3.9%
14 LLY ELI LILLY & CO Healthcare 1,458.0 $1.3M 0.43% +291.0 +24.9% $919.77 +16.6%
15 MSFT MICROSOFT CORP Technology 3,279.0 $1.2M 0.39% +642.0 +24.4% $370.17 +12.3%
16 SMR NUSCALE PWR CORP Utilities 105,000.0 $1.1M 0.36% +35K +50.0% $10.84 +11.3%
17 MA MASTERCARD INCORPORATED Financial Services 1,682.0 $840K 0.27% +319.0 +23.4% $499.66 -1.1%
18 HEI HEICO CORP Industrials 2,792.0 $766K 0.25% +548.0 +24.4% $274.20 +12.8%
19 CRM SALESFORCE INC Technology 3,875.0 $723K 0.23% +759.0 +24.4% $186.67 -3.6%
20 COIN COINBASE GLOBAL INC Financial Services 3,905.0 $682K 0.22% +768.0 +24.5% $174.61 +2.9%

Period Price is the implied market price on the last day of the reporting period, calculated as reported value ÷ shares held. It is not the fund's purchase price or cost basis — the fund may have initiated or added to the position at any point during the quarter at a different price. Since Period shows the price change from that quarter-end snapshot to today's last price — it reflects stock movement after the report date, not the fund's actual return.

Sector Allocation
Healthcare 27.4%
Communication Services 23.2%
Financial Services 21.3%
Utilities 16.0%
Technology 3.4%
Industrials 3.1%
Energy 3.0%
Consumer Cyclical 2.7%