PCJ Investment Counsel Ltd. — 13F Holdings & Portfolio
CIK 1426318 · latest 13F-HR filed 2026-08-12
PCJ Investment Counsel Ltd. manages $347.9M in 13F-reported U.S. long-equity assets across 62 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are BBUC (6.70%), RY (4.82%), EFXT (4.26%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 10 new positions, exited 7, added to 19, and trimmed 26.
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.
SUITE 1400
TORONTO, A6 M5X 1C8
$347.9M
Long-equity book
62
Distinct positions
2026-06-30
Filed 2026-08-12
+10 / −7 / ↑19 / ↓26
vs 2026-03-31
| Name | Title / Status | Ownership | Type |
|---|
Top Adds (vs prior quarter)
- BANK NOVA SCOTIA B C$8.1M +1742.3%
- HUDBAY MINERALS INC$7.8M +231.1%
- CELESTICA INC$3.4M +129.9%
- BROOKFIELD CORP$3.4M +81.9%
- ROYAL BK CDA$3.2M +23.8%
Top Trims
- CAE INC-$11.9M -58.4%
- BOYD GROUP SERVICES INC-$11.6M -96.8%
- BROOKFIELD BUSINESS CORP-$7.7M -24.7%
- EQUINOX GOLD CORP-$4.8M -60.0%
- ARIS MINING CORPORATION-$2.6M -53.3%
New Positions
- TRANSALTA CORP$9.0M
- ETF SER SOLUTIONS$7.0M
- TREKOR METALS LTD$5.7M
- OCEANAGOLD CORP$4.2M
- THOMSON REUTERS CORP$3.3M
Exited Positions
- GFL ENVIRONMENTAL INC$7.8M
- TASEKO MINES LTD$6.6M
- BROOKFIELD RENEWABLE ENERGY$5.6M
- ORLA MNG LTD NEW$4.9M
- CARVANA CO$2.0M
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 | BROOKFIELD BUSINESS CORP | BBUC | 113006100 | $23.3M | 6.70% | 781,064 | SH |
| 2 | ROYAL BK CDA | RY | 780087102 | $16.8M | 4.82% | 81,100 | SH |
| 3 | ENERFLEX LTD | EFXT | 29269R105 | $14.8M | 4.26% | 604,197 | SH |
| 4 | TORONTO DOMINION BK ONT | TD | 891160509 | $13.5M | 3.88% | 111,100 | SH |
| 5 | BAYTEX ENERGY CORP | BTE | 07317Q105 | $13.4M | 3.84% | 3,334,828 | SH |
| 6 | CRH PLC | CRH | G25508105 | $11.5M | 3.30% | 107,410 | SH |
| 7 | HUDBAY MINERALS INC | HBM | 443628102 | $11.2M | 3.22% | 475,210 | SH |
| 8 | BROOKFIELD INFRASTRUCTURE PA | BIP | G16252101 | $10.8M | 3.10% | 295,980 | SH |
| 9 | CENOVUS ENERGY INC | CVE | 15135U109 | $9.2M | 2.64% | 368,790 | SH |
| 10 | TRANSALTA CORP | TAC | 89346D107 | $9.0M | 2.60% | 653,290 | SH |
| 11 | SHOPIFY INC | SHOP | 82509L107 | $8.8M | 2.54% | 77,170 | SH |
| 12 | BANK NOVA SCOTIA B C | BNS | 064149107 | $8.6M | 2.48% | 99,350 | SH |
| 13 | CAE INC | CAE | 124765108 | $8.5M | 2.44% | 339,091 | SH |
| 14 | BANK MONTREAL MEDIUM | BMO | 063671101 | $8.2M | 2.37% | 46,780 | SH |
| 15 | CANADIAN NATL RY CO | CNI | 136375102 | $7.7M | 2.23% | 64,960 | SH |
| 16 | DENISON MINES CORP | DNN | 248356107 | $7.5M | 2.15% | 2,444,190 | SH |
| 17 | BROOKFIELD CORP | BN | 11271J107 | $7.4M | 2.14% | 174,760 | SH |
| 18 | ETF SER SOLUTIONS | JETS | 26922A842 | $7.0M | 2.01% | 210,000 | SH |
| 19 | ENBRIDGE INC | ENB | 29250N105 | $6.9M | 1.99% | 127,750 | SH |
| 20 | CANADIAN IMPERIAL BANK OF CO | CM | 136069101 | $6.3M | 1.81% | 54,710 | SH |
| 21 | IAMGOLD CORP | IAG | 450913108 | $6.2M | 1.78% | 390,780 | SH |
| 22 | CELESTICA INC | CLS | 15101Q207 | $6.1M | 1.75% | 16,658 | SH |
| 23 | ALMONTY INDS INC | ALM | 020398707 | $6.1M | 1.74% | 366,557 | SH |
| 24 | TREKOR METALS LTD | TGB | 89472Y107 | $5.7M | 1.65% | 832,000 | SH |
| 25 | KNIGHT-SWIFT TRANSN HLDGS IN | KNX | 499049104 | $5.7M | 1.64% | 73,320 | SH |
| 26 | ERO COPPER CORP | ERO | 296006109 | $5.3M | 1.51% | 197,379 | SH |
| 27 | CANADIAN NAT RES LTD MED TER | CNQ | 136385101 | $5.2M | 1.50% | 132,430 | SH |
| 28 | MANULIFE FINL CORP | MFC | 56501R106 | $5.0M | 1.42% | 122,261 | SH |
| 29 | CANADIAN PACIFIC KANSAS CITY | CP | 13646K108 | $4.9M | 1.41% | 56,500 | SH |
| 30 | SUNCOR ENERGY INC NEW | SU | 867224107 | $4.7M | 1.36% | 87,760 | SH |
| 31 | AGNICO EAGLE MINES LTD | AEM | 008474108 | $4.6M | 1.31% | 29,440 | SH |
| 32 | PEMBINA PIPELINE CORP | PBA | 706327103 | $4.5M | 1.30% | 97,870 | SH |
| 33 | OCEANAGOLD CORP | OGC | 675222400 | $4.2M | 1.20% | 166,270 | SH |
| 34 | LIGHTSPEED COMMERCE INC | LSPD | 53229C107 | $4.2M | 1.20% | 397,910 | SH |
| 35 | SKEENA RES LTD NEW | SKE | 83056P715 | $3.8M | 1.09% | 142,580 | SH |
| 36 | PERPETUA RESOURCES CORP | PPTA | 714266103 | $3.7M | 1.08% | 180,390 | SH |
| 37 | ENDEAVOUR SILVER CORP | EXK | 29258Y103 | $3.5M | 0.99% | 416,430 | SH |
| 38 | BARRICK MNG CORP | B | 06849F108 | $3.4M | 0.97% | 91,810 | SH |
| 39 | THOMSON REUTERS CORP | TRI | 884903881 | $3.3M | 0.96% | 41,040 | SH |
| 40 | FORTUNA MNG CORP | FSM | 349942102 | $3.3M | 0.95% | 391,330 | SH |
| 41 | CAMECO CORP | CCJ | 13321L108 | $3.3M | 0.94% | 32,010 | SH |
| 42 | WHEATON PRECIOUS METALS CORP | WPM | 962879102 | $3.2M | 0.93% | 28,710 | SH |
| 43 | EQUINOX GOLD CORP | EQX | 29446Y502 | $3.2M | 0.92% | 329,720 | SH |
| 44 | TECK RESOURCES LTD | TECK | 878742204 | $2.9M | 0.84% | 49,251 | SH |
| 45 | TFI INTERNATIONAL INC | TFII | 87241L109 | $2.8M | 0.81% | 19,600 | SH |
| 46 | NEXGEN ENERGY LTD | NXE | 65340P106 | $2.7M | 0.77% | 283,860 | SH |
| 47 | GREENFIRE RES LTD NEW | GFR | 39525U107 | $2.5M | 0.72% | 444,657 | SH |
| 48 | ATS CORPORATION | ATS | 00217Y104 | $2.5M | 0.71% | 85,640 | SH |
| 49 | ARIS MINING CORPORATION | ARIS | 04040Y109 | $2.3M | 0.65% | 151,160 | SH |
| 50 | FRANCO NEV CORP | FNV | 351858105 | $2.2M | 0.64% | 10,630 | SH |
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-06-30 | 2026-08-12 | $347.9M | 62 | 0001426318-26-000005 |
| 2026-03-31 | 2026-05-11 | $352.1M | 59 | 0001426318-26-000004 |
| 2025-12-31 | 2026-02-10 | $404.2M | 61 | 0001426318-26-000001 |
| 2025-09-30 | 2025-11-13 | $359.5M | 64 | 0001426318-25-000007 |