Filed: 11/13/2025ACC: 0001081668-25-000014
📋 What this filing means
PORTLAND INVESTMENT COUNSEL INC. filed this quarterly 13F‑HR report disclosing 52 equity positions with a total reported market value of $365.39M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
52
Positions
$365.39M
Total AUM (reported)
4.98M
Total Shares
Allocation by class
COM$144.28M39.5%
COM CL A$88.19M24.1%
CL B NEW$50.67M13.9%
CL A LMT VTG SHS$23.54M6.4%
COM NEW$22.64M6.2%
CL A COM STK$14.49M4.0%
CL A$5.92M1.6%
Portfolio Concentration
Top 3$162.72M44.5%
4–10$142.34M39.0%
11–25$43.26M11.8%
Rest$17.08M4.7%
Top 3 weight
44.5%
Top 10 weight
83.5%
Voting Authority Distribution
Total shares with voting rights: 4.98M
Sole
Full voting authority
4.98M
shares
% of voting shares100.0%
Shared
Joint voting authority
0.00
shares
% of voting shares0.0%
None
No voting authority
0.00
shares
% of voting shares0.0%
Investment Discretion (by position count)
Sole52
Shared0
Other0
Dominant voting typeSole · 100.0% of voting shares
Institutional Holdings52
Rows:
OKLO INC
SOLEShares766.48K
TypeSH
Market value$85.56M
23.42%
Sole
766.48K
Shared
0.00
None
0.00
BERKSHIRE HATHAWAY INC DEL
SOLEShares100.78K
TypeSH
Market value$50.67M
13.87%
Sole
100.78K
Shared
0.00
None
0.00
BANK NOVA SCOTIA B C
SOLEShares409.63K
TypeSH
Market value$26.49M
7.25%
Sole
409.63K
Shared
0.00
None
0.00
BROOKFIELD ASSET MANAGMT LTD
SOLEShares414.10K
TypeSH
Market value$23.54M
6.44%
Sole
414.10K
Shared
0.00
None
0.00
TORONTO DOMINION BK ONT
SOLEShares281.70K
TypeSH
Market value$22.52M
6.16%
Sole
281.70K
Shared
0.00
None
0.00
SOUTH BOW CORP
SOLEShares751.04K
TypeSH
Market value$21.25M
5.82%
Sole
751.04K
Shared
0.00
None
0.00
MAGNA INTL INC
SOLEShares442.07K
TypeSH
Market value$20.95M
5.73%
Sole
442.07K
Shared
0.00
None
0.00
THE CIGNA GROUP
SOLEShares72.20K
TypeSH
Market value$20.81M
5.70%
Sole
72.20K
Shared
0.00
None
0.00
ELEVANCE HEALTH INC
SOLEShares58.10K
TypeSH
Market value$18.77M
5.14%
Sole
58.10K
Shared
0.00
None
0.00
ARES MANAGEMENT CORPORATION
SOLEShares90.62K
TypeSH
Market value$14.49M
3.97%
Sole
90.62K
Shared
0.00
None
0.00
DANAHER CORPORATION
SOLEShares59.75K
TypeSH
Market value$11.85M
3.24%
Sole
59.75K
Shared
0.00
None
0.00
BROOKFIELD CORP
SOLEShares60.22K
TypeSH
Market value$4.13M
1.13%
Sole
60.22K
Shared
0.00
None
0.00
CENTRUS ENERGY CORP
SOLEShares11.25K
TypeSH
Market value$3.49M
0.95%
Sole
11.25K
Shared
0.00
None
0.00
RADNET INC
SOLEShares42K
TypeSH
Market value$3.20M
0.88%
Sole
42K
Shared
0.00
None
0.00
CARNIVAL CORP
SOLEShares110.70K
TypeSH
Market value$3.20M
0.88%
Sole
110.70K
Shared
0.00
None
0.00
NVIDIA CORPORATION
SOLEShares12.27K
TypeSH
Market value$2.29M
0.63%
Sole
12.27K
Shared
0.00
None
0.00
CAMECO CORP
SOLEShares24K
TypeSH
Market value$2.01M
0.55%
Sole
24K
Shared
0.00
None
0.00
ALPHABET INC
SOLEShares8.27K
TypeSH
Market value$2.01M
0.55%
Sole
8.27K
Shared
0.00
None
0.00
GOLDMAN SACHS GROUP INC
SOLEShares2.25K
TypeSH
Market value$1.79M
0.49%
Sole
2.25K
Shared
0.00
None
0.00
META PLATFORMS INC
SOLEShares2.25K
TypeSH
Market value$1.65M
0.45%
Sole
2.25K
Shared
0.00
None
0.00
NUSCALE PWR CORP
SOLEShares45K
TypeSH
Market value$1.62M
0.44%
Sole
45K
Shared
0.00
None
0.00
AMAZON COM INC
SOLEShares7.12K
TypeSH
Market value$1.56M
0.43%
Sole
7.12K
Shared
0.00
None
0.00
APPLE INC
SOLEShares6.13K
TypeSH
Market value$1.56M
0.43%
Sole
6.13K
Shared
0.00
None
0.00
BLOOM ENERGY CORP
SOLEShares18K
TypeSH
Market value$1.52M
0.42%
Sole
18K
Shared
0.00
None
0.00
MICROSOFT CORP
SOLEShares2.64K
TypeSH
Market value$1.37M
0.37%
Sole
2.64K
Shared
0.00
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
OKLO INCSOLE | COM CL A | 766.48K | SH | $85.56M 23.42% | 766.48K | 0.00 | 0.00 |
BERKSHIRE HATHAWAY INC DELSOLE | CL B NEW | 100.78K | SH | $50.67M 13.87% | 100.78K | 0.00 | 0.00 |
BANK NOVA SCOTIA B CSOLE | COM | 409.63K | SH | $26.49M 7.25% | 409.63K | 0.00 | 0.00 |
BROOKFIELD ASSET MANAGMT LTDSOLE | CL A LMT VTG SHS | 414.10K | SH | $23.54M 6.44% | 414.10K | 0.00 | 0.00 |
TORONTO DOMINION BK ONTSOLE | COM NEW | 281.70K | SH | $22.52M 6.16% | 281.70K | 0.00 | 0.00 |
SOUTH BOW CORPSOLE | COM | 751.04K | SH | $21.25M 5.82% | 751.04K | 0.00 | 0.00 |
MAGNA INTL INCSOLE | COM | 442.07K | SH | $20.95M 5.73% | 442.07K | 0.00 | 0.00 |
THE CIGNA GROUPSOLE | COM | 72.20K | SH | $20.81M 5.70% | 72.20K | 0.00 | 0.00 |
ELEVANCE HEALTH INCSOLE | COM | 58.10K | SH | $18.77M 5.14% | 58.10K | 0.00 | 0.00 |
ARES MANAGEMENT CORPORATIONSOLE | CL A COM STK | 90.62K | SH | $14.49M 3.97% | 90.62K | 0.00 | 0.00 |
DANAHER CORPORATIONSOLE | COM | 59.75K | SH | $11.85M 3.24% | 59.75K | 0.00 | 0.00 |
BROOKFIELD CORPSOLE | CL A LTD VT SH | 60.22K | SH | $4.13M 1.13% | 60.22K | 0.00 | 0.00 |
CENTRUS ENERGY CORPSOLE | CL A | 11.25K | SH | $3.49M 0.95% | 11.25K | 0.00 | 0.00 |
RADNET INCSOLE | COM | 42K | SH | $3.20M 0.88% | 42K | 0.00 | 0.00 |
CARNIVAL CORPSOLE | COMMON STOCK | 110.70K | SH | $3.20M 0.88% | 110.70K | 0.00 | 0.00 |
NVIDIA CORPORATIONSOLE | COM | 12.27K | SH | $2.29M 0.63% | 12.27K | 0.00 | 0.00 |
CAMECO CORPSOLE | COM | 24K | SH | $2.01M 0.55% | 24K | 0.00 | 0.00 |
ALPHABET INCSOLE | CAP STK CL A | 8.27K | SH | $2.01M 0.55% | 8.27K | 0.00 | 0.00 |
GOLDMAN SACHS GROUP INCSOLE | COM | 2.25K | SH | $1.79M 0.49% | 2.25K | 0.00 | 0.00 |
META PLATFORMS INCSOLE | CL A | 2.25K | SH | $1.65M 0.45% | 2.25K | 0.00 | 0.00 |
NUSCALE PWR CORPSOLE | CL A COM | 45K | SH | $1.62M 0.44% | 45K | 0.00 | 0.00 |
AMAZON COM INCSOLE | COM | 7.12K | SH | $1.56M 0.43% | 7.12K | 0.00 | 0.00 |
APPLE INCSOLE | COM | 6.13K | SH | $1.56M 0.43% | 6.13K | 0.00 | 0.00 |
BLOOM ENERGY CORPSOLE | COM CL A | 18K | SH | $1.52M 0.42% | 18K | 0.00 | 0.00 |
MICROSOFT CORPSOLE | COM | 2.64K | SH | $1.37M 0.37% | 2.64K | 0.00 | 0.00 |
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