Portland Investment Counsel
BURLINGTON, A6files as PORTLAND INVESTMENT COUNSEL INC.
$358m in 58 US stocks at the end of 30 June 2026. The top 10 are 80.6% of the money. It changed about 16.4% of the portfolio this quarter.
Value
$358m
Stocks
58
Top 10 share
80.6%
Turnover
16.4%
What changed this quarter
New
Bought for the first time this quarter.
- Uber TechnologiesUBER2.4% of the fund
- X-EnergyXE0.3% of the fund
- SyscoSYY0.3% of the fund
- Space Exploration TechnologiesSPCX0.2% of the fund
Added
Bought more of a stock they already held.
- Cigna GroupCI17.4% of the fund+213%
- Verizon CommunicationsVZ10.6% of the fund+3%
- Spdr Series TrustBIL0.9% of the fund+119%
Cut
Sold some of their stake.
- Berkshire HathawayBRK-B13.5% of the fund-8%
- Toronto Dominion BankTD6.3% of the fund-3%
- Bloom EnergyBE1.0% of the fund-33%
- Goldman Sachs GroupGS0.6% of the fund-9%
Sold out
Sold their entire stake.
- Elevance HealthELV-100%
Holdings
- South BowSOBO
- Share
- 9.4%
- Value
- $34m
- Shares
- 951,824
Held
- Toronto Dominion BankTD
- Share
- 6.3%
- Value
- $23m
- Shares
- 186,700
-3%
- BrookfieldBN
- Share
- 1.3%
- Value
- $5m
- Shares
- 112,663
Held
- Carnival
- Share
- 1.1%
- Value
- $4m
- Shares
- 139,602
Held
- CamecoCCJ
- Share
- 0.9%
- Value
- $3m
- Shares
- 32,500
Held
- Bank of Nova ScotiaBNS
- Share
- 0.9%
- Value
- $3m
- Shares
- 37,800
Held
- Spdr Series TrustBIL
- Share
- 0.9%
- Value
- $3m
- Shares
- 34,524
+119%
- Telix PharmaceuticalTLX
- Share
- 0.9%
- Value
- $3m
- Shares
- 266,200
Held
- X-EnergyXE
- Share
- 0.3%
- Value
- $1m
- Shares
- 60,000
New
- Beone MedicinesONC
- Share
- 0.2%
- Value
- $854,910
- Shares
- 3,000
Held
- Isoray
- Share
- 0.2%
- Value
- $852,500
- Shares
- 250,000
Held
- Space Exploration TechnologiesSPCX
- Share
- 0.2%
- Value
- $693,692
- Shares
- 4,060
New
- Nuvalent
- Share
- <0.1%
- Value
- $247,000
- Shares
- 2,000
Held
- Bicycle TherapeuticsBCYC
- Share
- <0.1%
- Value
- $63,600
- Shares
- 15,000
Held
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| Cigna GroupCI | 17.4% | $62m | 226,000 | +213% |
| Berkshire HathawayBRK-B | 13.5% | $48m | 96,477 | -8% |
| Verizon CommunicationsVZ | 10.6% | $38m | 894,200 | +3% |
| South BowSOBO | 9.4% | $34m | 951,824 | Held |
| OkloOKLO | 8.6% | $31m | 589,480 | Held |
| Toronto Dominion BankTD | 6.3% | $23m | 186,700 | -3% |
| Brookfield Asset ManagementBAM | 5.3% | $19m | 422,387 | Held |
| Ares ManagementARES | 3.8% | $13m | 121,074 | Held |
| DanaherDHR | 3.3% | $12m | 62,654 | Held |
| Uber TechnologiesUBER | 2.4% | $9m | 120,500 | New |
| BrookfieldBN | 1.3% | $5m | 112,663 | Held |
| Carnival | 1.1% | $4m | 139,602 | Held |
| Bloom EnergyBE | 1.0% | $4m | 12,000 | -33% |
| CamecoCCJ | 0.9% | $3m | 32,500 | Held |
| Bank of Nova ScotiaBNS | 0.9% | $3m | 37,800 | Held |
| Spdr Series TrustBIL | 0.9% | $3m | 34,524 | +119% |
| Telix PharmaceuticalTLX | 0.9% | $3m | 266,200 | Held |
| RadNetRDNT | 0.7% | $3m | 42,000 | Held |
| Centrus EnergyLEU | 0.7% | $2m | 14,750 | Held |
| AlphabetGOOGL | 0.7% | $2m | 6,787 | Held |
| NvidiaNVDA | 0.6% | $2m | 11,300 | Held |
| AppleAAPL | 0.6% | $2m | 7,535 | Held |
| Amazon.comAMZN | 0.6% | $2m | 8,825 | Held |
| Goldman Sachs GroupGS | 0.6% | $2m | 2,078 | -9% |
| Lantheus HoldingsLNTH | 0.6% | $2m | 18,000 | Held |
| BWX TechnologiesBWXT | 0.5% | $2m | 10,000 | Held |
| JPMorgan ChaseJPM | 0.5% | $2m | 5,752 | Held |
| Meta PlatformsMETA | 0.5% | $2m | 3,257 | Held |
| GE VernovaGEV | 0.5% | $2m | 1,500 | Held |
| Eli LillyLLY | 0.5% | $2m | 1,458 | Held |
| MicrosoftMSFT | 0.3% | $1m | 3,279 | Held |
| X-EnergyXE | 0.3% | $1m | 60,000 | New |
| Nuscale PowerSMR | 0.3% | $1m | 105,000 | Held |
| SyscoSYY | 0.3% | $1m | 12,125 | New |
| HeicoHEI | 0.3% | $994,482 | 2,792 | Held |
| United Parcel ServiceUPS | 0.3% | $978,250 | 9,100 | Held |
| MastercardMA | 0.2% | $863,875 | 1,682 | Held |
| Beone MedicinesONC | 0.2% | $854,910 | 3,000 | Held |
| Isoray | 0.2% | $852,500 | 250,000 | Held |
| Constellation EnergyCEG | 0.2% | $844,458 | 3,400 | Held |
| Space Exploration TechnologiesSPCX | 0.2% | $693,692 | 4,060 | New |
| Olema PharmaceuticalsOLMA | 0.2% | $625,500 | 50,000 | Held |
| Palo Alto NetworksPANW | 0.2% | $612,472 | 1,796 | Held |
| SalesforceCRM | 0.2% | $607,058 | 3,875 | Held |
| Coinbase GlobalCOIN | 0.2% | $570,872 | 3,905 | Held |
| CrowdStrike HoldingsCRWD | 0.2% | $546,408 | 716 | Held |
| AmgenAMGN | 0.2% | $543,180 | 1,500 | Held |
| Iovance BiotherapeuticsIOVA | 0.2% | $540,800 | 130,000 | Held |
| IconICLR | 0.1% | $521,130 | 3,000 | Held |
| Regeneron PharmaceuticalsREGN | 0.1% | $407,795 | 654 | Held |
| Nuvalent | <0.1% | $247,000 | 2,000 | Held |
| ZscalerZS | <0.1% | $236,991 | 1,679 | Held |
| Palantir TechnologiesPLTR | <0.1% | $221,090 | 1,895 | Held |
| Relay TherapeuticsRLAY | <0.1% | $187,100 | 10,000 | Held |
| SchrodingerSDGR | <0.1% | $162,500 | 10,000 | Held |
| Plug PowerPLUG | <0.1% | $135,500 | 50,000 | Held |
| ArvinasARVN | <0.1% | $116,340 | 14,000 | Held |
| Bicycle TherapeuticsBCYC | <0.1% | $63,600 | 15,000 | Held |
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is up 5.3% since 30 June 2025.
Where the money is
Financial services31.3%
Health care23.4%
Media & telecom11.8%
Energy9.4%
Utilities8.9%
Industrials5.6%
Technology2.4%
Materials1.6%
Real estate1.3%
Retail & consumer0.6%
Everyday goods0.3%
Other3.4%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.