Latest PORTLAND INVESTMENT COUNSEL INC. Stock Portfolio

PORTLAND INVESTMENT COUNSEL INC. Performance:

2025 Q4: -6.31%YTD: 25.78%2024: -8.45%

Performance for 2025 Q4 is -6.31%, and YTD is 25.78%, and 2024 is -8.45%.

About PORTLAND INVESTMENT COUNSEL INC. and 13F Hedge Fund Stock Holdings

On 2026-02-12, the fund reported it's updated stock portfolio. In the 13F Holdings report, PORTLAND INVESTMENT COUNSEL INC. reported an equity portfolio of $332.1 Millions as of 31 Dec, 2025.

The top stock holdings of PORTLAND INVESTMENT COUNSEL INC. are , ALCC, VZ. The fund has invested 15.8% of it's portfolio in BERKSHIRE HATHAWAY INC DEL and 13.4% of portfolio in OKLO INC.

The fund managers got completely rid off BANK NOVA SCOTIA B C (BNS) and MAGNA INTL INC (MGA) stocks. They significantly reduced their stock positions in TORONTO DOMINION BK ONT (TD), OKLO INC (ALCC) and ALPHABET INC (GOOG). PORTLAND INVESTMENT COUNSEL INC. opened new stock positions in VERIZON COMMUNICATIONS INC (VZ), MOSAIC CO NEW (MOS) and NUVALENT INC (NUVL). The fund showed a lot of confidence in some stocks as they added substantially to GE VERNOVA INC, COINBASE GLOBAL INC (COIN) and NUSCALE PWR CORP (SMR).

PORTLAND INVESTMENT COUNSEL INC. Annual Return Estimates Vs S&P 500

Our best estimate is that PORTLAND INVESTMENT COUNSEL INC. made a return of -6.31% in the last quarter. In trailing 12 months, it's portfolio return was 25.78%.

Performance
S&P 500

New Buys

Ticker	$ Bought
verizon communications inc	35,231,400
mosaic co new	13,037,600
nuvalent inc	201,180

New stocks bought by PORTLAND INVESTMENT COUNSEL INC.

Additions

Ticker	% Inc.
ge vernova inc	150
telix pharmaceutical ltd	107
coinbase global inc	105
brookfield corp	75.57
nuscale pwr corp	55.56
salesforce inc	48.24
eli lilly & co	34.91
meta platforms inc	32.93

Additions to existing portfolio by PORTLAND INVESTMENT COUNSEL INC.

Reductions

Ticker	% Reduced
toronto dominion bk ont	-31.84
oklo inc	-18.74
alphabet inc	-17.29
nvidia corporation	-15.82
spdr ser tr	-6.29

PORTLAND INVESTMENT COUNSEL INC. reduced stake in above stock

Sold off

Ticker	$ Sold
magna intl inc	-20,945,600
bank nova scotia b c	-26,487,400

PORTLAND INVESTMENT COUNSEL INC. got rid off the above stocks

Sector Distribution

PORTLAND INVESTMENT COUNSEL INC. has about 52.2% of it's holdings in Others sector.

Sector	%
Others	52.2
Healthcare	19.2
Communication Services	12.2
Financial Services	6
Basic Materials	3.9
Consumer Cyclical	1.8
Technology	1.7
Industrials	1.7

Market Cap. Distribution

PORTLAND INVESTMENT COUNSEL INC. has about 34.2% of it's portfolio invested in the large-cap and mega-cap stocks.

Category	%
UNALLOCATED	52.2
LARGE-CAP	18.6
MEGA-CAP	15.6
MID-CAP	6.4
NANO-CAP	6.1

Stocks belong to which Index?

About 35.8% of the stocks held by PORTLAND INVESTMENT COUNSEL INC. either belong to S&P 500 or RUSSELL 2000 index.

Index	%
Others	64.2
S&P 500	31.9
RUSSELL 2000	3.9

Top 5 Winners (%)		%
OLMA	olema pharmaceuticals inc	155.4 %
BIL	spdr ser tr	153.4 %
RLAY	relay therapeutics inc	62.1 %
ARVN	arvinas inc	39.2 %
	baytex energy corp	39.0 %

Top 5 Winners ($)		$
TD	toronto dominion bk ont	3.4 M
DHR	danaher corporation	2.0 M
BIL	spdr ser tr	1.7 M
ANTX	elevance health inc	1.6 M
OLMA	olema pharmaceuticals inc	0.8 M

Top 5 Losers (%)		%
SMR	nuscale pwr corp	-55.9 %
ALCC	oklo inc	-32.5 %
	brookfield corp	-27.7 %
COIN	coinbase global inc	-25.4 %
LEU	centrus energy corp	-21.7 %

Top 5 Losers ($)		$
ALCC	oklo inc	-27.8 M
	brookfield corp	-1.9 M
BAM	brookfield asset managmt ltd	-1.7 M
SMR	nuscale pwr corp	-1.3 M
CI	the cigna group	-0.9 M

PORTLAND INVESTMENT COUNSEL INC. Holdings Map

This heatmap illustrates the top 50 positions within the fund's portfolio.

Current Stock Holdings of PORTLAND INVESTMENT COUNSEL INC.

PORTLAND INVESTMENT COUNSEL INC. has 53 stocks in it's portfolio. About 79.3% of the portfolio is in top 10 stocks. ALCC proved to be the most loss making stock for the portfolio. TD was the most profitable stock for PORTLAND INVESTMENT COUNSEL INC. last quarter.

Last Reported on: 12 Feb, 2026

Ticker	Namesorted ascending	% Portfolio	Shares Held	$ Value	Type	% Change
AAPL	apple inc	0.50	6,134	1,675,070	unchanged	0.00

ALCC	oklo inc	13.44	622,830	44,625,500	reduced	-18.74

AMGN	amgen inc	0.15	1,500	490,965	unchanged	0.00

AMZN	amazon com inc	0.50	7,120	1,655,610	unchanged	0.00

ANTX	elevance health inc	6.13	58,100	20,367,000	unchanged	0.00

ARES	ares management corporation	4.70	95,724	15,593,000	added	5.63

ARVN	arvinas inc	0.05	14,000	166,040	unchanged	0.00

BAM	brookfield asset managmt ltd	6.68	421,200	22,193,700	added	1.71

BCYC	bicycle therapeutics plc	0.03	15,000	106,200	unchanged	0.00

BE	bloom energy corp	0.47	18,000	1,564,020	unchanged	0.00

BGNE	beone medicines ltd	0.27	3,000	911,430	unchanged	0.00

BIL	spdr ser tr	0.82	29,821	2,725,040	reduced	-6.29

BNS	bank nova scotia b c	0.00	0.00	0.00	sold off	-100

BWXT	bwx technologies inc	0.36	7,000	1,209,880	unchanged	0.00

CCJ	cameco corp	0.83	30,000	2,747,000	added	25.00

CCL	carnival corp	1.29	139,602	4,271,540	added	26.11

CEG	constellation energy corp	0.36	3,400	1,201,120	unchanged	0.00

CI	the cigna group	5.98	72,200	19,871,600	unchanged	0.00

COIN	coinbase global inc	0.22	3,137	726,529	added	105

CRM	salesforce inc	0.25	3,116	828,607	added	48.24