PORTLAND INVESTMENT COUNSEL INC.

Q4 2025 13F-HR Holdings

Location
Burlington, A6
Holdings as of
12/31/2025
Date filed
2/12/2026
Form type
13F-HR
Num holdings
53
Total value ($000)
$332,101
Net value change ($000)
-33,290 (-9.1%)
New positions
3
Sold out positions
2
Turnover %
28.9%
Sector allocation + QoQ delta (equities-only)
Prev filing: 11/13/2025 Next filing: — SEC filing

Snapshot: Change Analysis

Compared to Q3 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
VZ 35,231 NEW
MOS 13,038 NEW
DHR 2,588 21.8%
BRK-B 1,746 3.4%
BIL 1,599 142.0%
ELV 1,594 8.5%
ARES 1,103 7.6%
CCL 1,072 33.5%
TLX 838 68.4%
OLMA 760 155.1%
Top Reduces (Value $000, Stocks/ETFs)
OKLO -40,936 -47.8%
BNS -26,487 -100.0%
MGA -20,946 -100.0%
TD -4,429 -19.7%
BAM -1,347 -5.7%
CI -940 -4.5%
LEU -757 -21.7%
SMR -628 -38.8%
SOBO -596 -2.8%
NVDA -353 -15.4%
Instrument mix + QoQ Δ (ex-options)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type