PORTLAND INVESTMENT COUNSEL INC. — 13F Holdings & Portfolio
CIK 1081668 · latest 13F-HR filed 2026-05-14
PORTLAND INVESTMENT COUNSEL INC. manages $311.6M in 13F-reported U.S. long-equity assets across 55 reported positions as of its 2026-03-31 13F-HR filing. Its largest disclosed positions are BRK.B (16.13%), VZ (13.93%), SOBO (10.36%). Quarter over quarter (versus its 2025-12-31 filing) the fund opened 6 new positions, exited 4, added to 19, and trimmed 21.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
$311.6M
Long-equity book
55
Distinct positions
2026-03-31
Filed 2026-05-14
+6 / −4 / ↑19 / ↓21
vs 2025-12-31
| Name | Title / Status | Ownership | Type |
|---|
Top Adds (vs prior quarter)
- SOUTH BOW CORP$11.6M +56.2%
- VERIZON COMMUNICATIONS INC$8.2M +23.3%
- BLOOM ENERGY CORP$874.8K +55.9%
- BWX TECHNOLOGIES INC$835.0K +69.0%
- CAMECO CORP$787.3K +28.7%
Top Trims
- OKLO INC-$15.4M -34.5%
- BROOKFIELD ASSET MANAGMT LTD-$3.5M -15.6%
- ELEVANCE HEALTH INC-$3.4M -16.5%
- DANAHER CORPORATION-$2.6M -17.7%
- ARES MANAGEMENT CORPORATION-$2.4M -15.3%
New Positions
- BANK NOVA SCOTIA B C$2.6M
- REGENERON PHARMACEUTICALS$505.3K
- PALO ALTO NETWORKS INC$287.9K
- CROWDSTRIKE HLDGS INC$279.5K
- PALANTIR TECHNOLOGIES INC$277.2K
Exited Positions
- MOSAIC CO NEW$13.0M
- BAYTEX ENERGY CORP$911.6K
- LIBERTY LATIN AMERICA LTD$618.6K
- LIBERTY LATIN AMERICA LTD$526.1K
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | BERKSHIRE HATHAWAY INC DEL | BRK.B | 084670702 | $50.3M | 16.13% | 104,877 | SH |
| 2 | VERIZON COMMUNICATIONS INC | VZ | 92343V104 | $43.4M | 13.93% | 865,000 | SH |
| 3 | SOUTH BOW CORP | SOBO | 83671M105 | $32.3M | 10.36% | 970,061 | SH |
| 4 | OKLO INC | OKLO | 02156V109 | $29.2M | 9.38% | 589,480 | SH |
| 5 | THE CIGNA GROUP | CI | 125523100 | $19.3M | 6.18% | 72,200 | SH |
| 6 | BROOKFIELD ASSET MANAGMT LTD | BAM | 113004105 | $18.7M | 6.01% | 422,387 | SH |
| 7 | TORONTO DOMINION BK ONT | TD | 891160509 | $17.9M | 5.75% | 192,000 | SH |
| 8 | ELEVANCE HEALTH INC | ELV | 036752103 | $17.0M | 5.46% | 58,100 | SH |
| 9 | ARES MANAGEMENT CORPORATION | ARES | 03990B101 | $13.2M | 4.24% | 121,074 | SH |
| 10 | DANAHER CORPORATION | DHR | 235851102 | $11.9M | 3.81% | 62,654 | SH |
| 11 | BROOKFIELD CORP | BN | 11271J107 | $4.6M | 1.46% | 112,663 | SH |
| 12 | CARNIVAL CORP | CCL | 143658300 | $3.6M | 1.16% | 139,602 | SH |
| 13 | CAMECO CORP | CCJ | 13321L108 | $3.5M | 1.13% | 32,500 | SH |
| 14 | BANK NOVA SCOTIA B C | BNS | 064149107 | $2.6M | 0.84% | 37,800 | SH |
| 15 | CENTRUS ENERGY CORP | LEU | 15643U104 | $2.6M | 0.82% | 14,750 | SH |
| 16 | TELIX PHARMACEUTICAL LTD | TLX | 87961M105 | $2.5M | 0.82% | 266,200 | SH |
| 17 | BLOOM ENERGY CORP | BE | 093712107 | $2.4M | 0.78% | 18,000 | SH |
| 18 | RADNET INC | RDNT | 750491102 | $2.3M | 0.75% | 42,000 | SH |
| 19 | BWX TECHNOLOGIES INC | BWXT | 05605H100 | $2.0M | 0.66% | 10,000 | SH |
| 20 | NVIDIA CORPORATION | NVDA | 67066G104 | $2.0M | 0.63% | 11,300 | SH |
| 21 | ALPHABET INC | GOOGL | 02079K305 | $2.0M | 0.63% | 6,787 | SH |
| 22 | GOLDMAN SACHS GROUP INC | GS | 38141G104 | $1.9M | 0.62% | 2,278 | SH |
| 23 | APPLE INC | AAPL | 037833100 | $1.9M | 0.61% | 7,535 | SH |
| 24 | META PLATFORMS INC | META | 30303M102 | $1.9M | 0.60% | 3,257 | SH |
| 25 | AMAZON COM INC | AMZN | 023135106 | $1.8M | 0.59% | 8,825 | SH |
| 26 | JPMORGAN CHASE & CO | JPM | 46625H100 | $1.7M | 0.54% | 5,752 | SH |
| 27 | SPDR SER TR | BIL | 78468R663 | $1.4M | 0.46% | 15,774 | SH |
| 28 | LANTHEUS HLDGS INC | LNTH | 516544103 | $1.4M | 0.44% | 18,000 | SH |
| 29 | ELI LILLY & CO | LLY | 532457108 | $1.3M | 0.43% | 1,458 | SH |
| 30 | GE VERNOVA INC | GEV | 36828A101 | $1.3M | 0.42% | 1,500 | SH |
| 31 | MICROSOFT CORP | MSFT | 594918104 | $1.2M | 0.39% | 3,279 | SH |
| 32 | NUSCALE PWR CORP | SMR | 67079K100 | $1.1M | 0.37% | 105,000 | SH |
| 33 | PERSPECTIVE THERAPEUTICS INC | CATX | 46489V104 | $1.0M | 0.33% | 250,000 | SH |
| 34 | CONSTELLATION ENERGY CORP | CEG | 21037T109 | $949.5K | 0.30% | 3,400 | SH |
| 35 | UNITED PARCEL SERVICE INC | UPS | 911312106 | $895.3K | 0.29% | 9,100 | SH |
| 36 | BEONE MEDICINES LTD | ONC | 07725L102 | $890.9K | 0.29% | 3,000 | SH |
| 37 | MASTERCARD INCORPORATED | MA | 57636Q104 | $840.4K | 0.27% | 1,682 | SH |
| 38 | HEICO CORP | HEI | 422806109 | $765.6K | 0.25% | 2,792 | SH |
| 39 | OLEMA PHARMACEUTICALS INC | OLMA | 68062P106 | $745.5K | 0.24% | 50,000 | SH |
| 40 | SALESFORCE INC | CRM | 79466L302 | $723.3K | 0.23% | 3,875 | SH |
| 41 | COINBASE GLOBAL INC | COIN | 19260Q107 | $681.9K | 0.22% | 3,905 | SH |
| 42 | AMGEN INC | AMGN | 031162101 | $527.8K | 0.17% | 1,500 | SH |
| 43 | REGENERON PHARMACEUTICALS | REGN | 75886F107 | $505.3K | 0.16% | 654 | SH |
| 44 | IOVANCE BIOTHERAPEUTICS INC | IOVA | 462260100 | $456.3K | 0.15% | 130,000 | SH |
| 45 | ICON PLC | ICLR | G4705A100 | $332.0K | 0.11% | 3,000 | SH |
| 46 | PALO ALTO NETWORKS INC | PANW | 697435105 | $287.9K | 0.09% | 1,796 | SH |
| 47 | CROWDSTRIKE HLDGS INC | CRWD | 22788C105 | $279.5K | 0.09% | 716 | SH |
| 48 | PALANTIR TECHNOLOGIES INC | PLTR | 69608A108 | $277.2K | 0.09% | 1,895 | SH |
| 49 | ZSCALER INC | ZS | 98980G102 | $235.5K | 0.08% | 1,679 | SH |
| 50 | NUVALENT INC | NUVL | 670703107 | $204.9K | 0.07% | 2,000 | SH |
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-03-31 | 2026-05-14 | $311.6M | 55 | 0001081668-26-000007 |
| 2025-12-31 | 2026-02-12 | $332.1M | 53 | 0001081668-26-000003 |
| 2025-09-30 | 2025-11-13 | $365.4M | 52 | 0001081668-25-000014 |