PCJ Investment Counsel Ltd.

Q4 2025 13F-HR Holdings

Location
Toronto, A6
Holdings as of
12/31/2025
Date filed
2/10/2026
Form type
13F-HR
Num holdings
61
Total value ($000)
$404,231
Net value change ($000)
+44,742 (12.4%)
New positions
9
Sold out positions
12
Turnover %
19.1%
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)
BGSI 18,355 NEW
BTE 8,034 NEW
CAE 7,328 46.4%
GIB 7,014 NEW
EQX 4,905 65.5%
RGLD 4,772 NEW
ORLA 4,280 159.7%
AXP 3,677 NEW
MEOH 3,598 76.9%
TD 2,835 35.2%
Top Reduces (Value $000, Stocks/ETFs)
SAND -5,348 -100.0%
COF -4,739 -48.9%
DSGX -4,529 -100.0%
NGD -4,195 -100.0%
CM -4,069 -89.2%
AMCR -3,441 -53.4%
C -3,032 -100.0%
STN -2,695 -100.0%
BLDR -2,683 -100.0%
BBU -2,624 -6.0%
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