PCJ Investment Counsel Ltd.
CIK 0001426318
Annualised vol
6.701072%
Beta
0.086607
HHI
256.339021
Top-10 weight
38.367128%
VaR 95%
0.448609%
VaR 99%
1.514025%
Max drawdown
12.467174%
Matched value
57.096249%
Returns of reported holdings
Loading returns…
Position changes vs prior quarter
What the latest 13F shows bought and sold against the quarter before, by share count.
| Ticker | Change | Shares now | Shares before | Share change % | Value now ($) |
|---|---|---|---|---|---|
| BBUC | REDUCED | 781,064 | 978,912 | -20.21% | 23,316,296 |
| EFXT | REDUCED | 604,197 | 661,252 | -8.63% | 14,823,270 |
| BTE | ADDED | 3,334,828 | 2,805,993 | 18.85% | 13,365,884 |
| HBM | ADDED | 475,210 | 161,660 | 193.96% | 11,210,183 |
| CVE | REDUCED | 368,790 | 442,865 | -16.73% | 9,167,269 |
| TAC | NEW | 653,290 | - | - | 9,028,529 |
| SHOP | ADDED | 77,170 | 74,860 | 3.09% | 8,820,068 |
| CAE | REDUCED | 339,091 | 782,693 | -56.68% | 8,481,622 |
| DNN | REDUCED | 2,444,190 | 2,659,200 | -8.09% | 7,489,213 |
| ENB | ADDED | 127,750 | 123,540 | 3.41% | 6,920,791 |
| IAG | REDUCED | 390,780 | 403,320 | -3.11% | 6,182,357 |
| CLS | ADDED | 16,658 | 9,380 | 77.59% | 6,084,743 |
| TGB | NEW | 832,000 | - | - | 5,731,577 |
| ERO | REDUCED | 197,379 | 211,859 | -6.83% | 5,265,119 |
| SU | ADDED | 87,760 | 83,210 | 5.47% | 4,716,644 |
| AEM | REDUCED | 29,440 | 30,480 | -3.41% | 4,554,508 |
| PBA | REDUCED | 97,870 | 99,545 | -1.68% | 4,524,929 |
| OGC | NEW | 166,270 | - | - | 4,163,566 |
| LSPD | ADDED | 397,910 | 250,900 | 58.59% | 4,162,203 |
| PPTA | ADDED | 180,390 | 164,070 | 9.95% | 3,740,781 |
| EXK | ADDED | 416,430 | 413,240 | 0.77% | 3,458,341 |
| CCJ | ADDED | 32,010 | 30,930 | 3.49% | 3,259,461 |
| WPM | REDUCED | 28,710 | 29,990 | -4.27% | 3,226,374 |
| EQX | REDUCED | 329,720 | 555,385 | -40.63% | 3,209,706 |
| TECK | REDUCED | 49,251 | 64,430 | -23.56% | 2,930,418 |
| TFII | NEW | 19,600 | - | - | 2,818,496 |
| NXE | REDUCED | 283,860 | 354,400 | -19.9% | 2,665,301 |
| ARIS | REDUCED | 151,160 | 259,765 | -41.81% | 2,251,953 |
| CGAU | REDUCED | 133,940 | 255,270 | -47.53% | 2,121,836 |
| FTS | REDUCED | 34,990 | 49,670 | -29.56% | 2,002,531 |
| KGC | REDUCED | 71,670 | 87,620 | -18.2% | 1,695,236 |
| TSAT | NEW | 31,180 | - | - | 1,579,786 |
| RBA | REDUCED | 11,800 | 13,735 | -14.09% | 1,374,110 |
| NTR | REDUCED | 20,700 | 29,290 | -29.33% | 1,300,756 |
| DCBO | NEW | 65,500 | - | - | 1,170,506 |
| GIL | ADDED | 22,131 | 7,911 | 179.75% | 1,139,854 |
| BGSI | REDUCED | 4,092 | 93,893 | -95.64% | 387,072 |
| WCN | REDUCED | 1,750 | 2,070 | -15.46% | 291,393 |
| GFL | CLOSED OUT | 0 | 187,807 | -100.0% | 0 |
| AGI | CLOSED OUT | 0 | 33,820 | -100.0% | 0 |
| GIB | CLOSED OUT | 0 | 20,780 | -100.0% | 0 |
| CVNA | CLOSED OUT | 0 | 6,496 | -100.0% | 0 |
Holdings (latest quarter)
| Ticker | Change | Issuer | Class | CUSIP | Value ($) | Weight % | Shares |
|---|---|---|---|---|---|---|---|
| BBUC | REDUCED | BROOKFIELD BUSINESS CORP | CL A SUB VTG SH | 113006100 | 23,316,296 | 6.7 | 781064.0 |
| - | ROYAL BK CDA | COM | 780087102 | 16,776,726 | 4.82 | 81100.0 | |
| EFXT | REDUCED | ENERFLEX LTD | COM | 29269R105 | 14,823,270 | 4.26 | 604197.0 |
| - | TORONTO DOMINION BK ONT | COM NEW | 891160509 | 13,494,726 | 3.88 | 111100.0 | |
| BTE | ADDED | BAYTEX ENERGY CORP | COM | 07317Q105 | 13,365,884 | 3.84 | 3334828.0 |
| - | CRH PLC | ORD | G25508105 | 11,492,870 | 3.3 | 107410.0 | |
| HBM | ADDED | HUDBAY MINERALS INC | COM | 443628102 | 11,210,183 | 3.22 | 475210.0 |
| - | BROOKFIELD INFRASTRUCTURE PA | LP INT UNIT | G16252101 | 10,800,011 | 3.1 | 295980.0 | |
| CVE | REDUCED | CENOVUS ENERGY INC | COM | 15135U109 | 9,167,269 | 2.64 | 368790.0 |
| TAC | NEW | TRANSALTA CORP | COM | 89346D107 | 9,028,529 | 2.6 | 653290.0 |
| SHOP | ADDED | SHOPIFY INC | CL A SUB VTG SHS | 82509L107 | 8,820,068 | 2.54 | 77170.0 |
| - | BANK NOVA SCOTIA B C | COM | 064149107 | 8,612,556 | 2.48 | 99350.0 | |
| CAE | REDUCED | CAE INC | COM | 124765108 | 8,481,622 | 2.44 | 339091.0 |
| - | BANK MONTREAL MEDIUM | COM | 063671101 | 8,249,351 | 2.37 | 46780.0 | |
| - | CANADIAN NATL RY CO | COM | 136375102 | 7,743,008 | 2.23 | 64960.0 | |
| DNN | REDUCED | DENISON MINES CORP | COM | 248356107 | 7,489,213 | 2.15 | 2444190.0 |
| - | BROOKFIELD CORP | CL A LTD VT SH | 11271J107 | 7,448,712 | 2.14 | 174760.0 | |
| - | ETF SER SOLUTIONS | US GLB JETS | 26922A842 | 6,976,200 | 2.01 | 210000.0 | |
| ENB | ADDED | ENBRIDGE INC | COM | 29250N105 | 6,920,791 | 1.99 | 127750.0 |
| - | CANADIAN IMPERIAL BANK OF CO | COM | 136069101 | 6,293,874 | 1.81 | 54710.0 | |
| IAG | REDUCED | IAMGOLD CORP | COM | 450913108 | 6,182,357 | 1.78 | 390780.0 |
| CLS | ADDED | CELESTICA INC | COM | 15101Q207 | 6,084,743 | 1.75 | 16658.0 |
| - | ALMONTY INDS INC | COM NEW | 020398707 | 6,057,334 | 1.74 | 366557.0 | |
| TGB | NEW | TREKOR METALS LTD | COM | 89472Y107 | 5,731,577 | 1.65 | 832000.0 |
| - | KNIGHT-SWIFT TRANSN HLDGS IN | CL A | 499049104 | 5,709,428 | 1.64 | 73320.0 | |
| ERO | REDUCED | ERO COPPER CORP | COM | 296006109 | 5,265,119 | 1.51 | 197379.0 |
| - | CANADIAN NAT RES LTD MED TER | COM | 136385101 | 5,234,992 | 1.5 | 132430.0 | |
| - | MANULIFE FINL CORP | COM | 56501R106 | 4,953,576 | 1.42 | 122261.0 | |
| - | CANADIAN PACIFIC KANSAS CITY | COM | 13646K108 | 4,893,553 | 1.41 | 56500.0 | |
| SU | ADDED | SUNCOR ENERGY INC NEW | COM | 867224107 | 4,716,644 | 1.36 | 87760.0 |
| AEM | REDUCED | AGNICO EAGLE MINES LTD | COM | 008474108 | 4,554,508 | 1.31 | 29440.0 |
| PBA | REDUCED | PEMBINA PIPELINE CORP | COM | 706327103 | 4,524,929 | 1.3 | 97870.0 |
| OGC | NEW | OCEANAGOLD CORP | COM NEW | 675222400 | 4,163,566 | 1.2 | 166270.0 |
| LSPD | ADDED | LIGHTSPEED COMMERCE INC | SUB VTG SHS | 53229C107 | 4,162,203 | 1.2 | 397910.0 |
| - | SKEENA RES LTD NEW | COM | 83056P715 | 3,796,316 | 1.09 | 142580.0 | |
| PPTA | ADDED | PERPETUA RESOURCES CORP | COM | 714266103 | 3,740,781 | 1.08 | 180390.0 |
| EXK | ADDED | ENDEAVOUR SILVER CORP | COM | 29258Y103 | 3,458,341 | 0.99 | 416430.0 |
| - | BARRICK MNG CORP | COM SHS | 06849F108 | 3,372,534 | 0.97 | 91810.0 | |
| - | THOMSON REUTERS CORP | COM | 884903881 | 3,348,713 | 0.96 | 41040.0 | |
| - | FORTUNA MNG CORP | COM NEW | 349942102 | 3,305,022 | 0.95 | 391330.0 | |
| CCJ | ADDED | CAMECO CORP | COM | 13321L108 | 3,259,461 | 0.94 | 32010.0 |
| WPM | REDUCED | WHEATON PRECIOUS METALS CORP | COM | 962879102 | 3,226,374 | 0.93 | 28710.0 |
| EQX | REDUCED | EQUINOX GOLD CORP | COM | 29446Y502 | 3,209,706 | 0.92 | 329720.0 |
| TECK | REDUCED | TECK RESOURCES LTD | CL B | 878742204 | 2,930,418 | 0.84 | 49251.0 |
| TFII | NEW | TFI INTERNATIONAL INC | COM | 87241L109 | 2,818,496 | 0.81 | 19600.0 |
| NXE | REDUCED | NEXGEN ENERGY LTD | COM | 65340P106 | 2,665,301 | 0.77 | 283860.0 |
| - | GREENFIRE RES LTD NEW | COM SHS | 39525U107 | 2,511,953 | 0.72 | 444657.0 | |
| - | ATS CORPORATION | COM | 00217Y104 | 2,466,037 | 0.71 | 85640.0 | |
| ARIS | REDUCED | ARIS MINING CORPORATION | COM | 04040Y109 | 2,251,953 | 0.65 | 151160.0 |
| - | FRANCO NEV CORP | COM | 351858105 | 2,215,819 | 0.64 | 10630.0 | |
| - | AMERICAS GOLD AND SILVER COR | COM NEW | 03062D803 | 2,182,955 | 0.63 | 461860.0 | |
| CGAU | REDUCED | CENTERRA GOLD INC | COM | 152006102 | 2,121,836 | 0.61 | 133940.0 |
| FTS | REDUCED | FORTIS INC | COM | 349553107 | 2,002,531 | 0.58 | 34990.0 |
| KGC | REDUCED | KINROSS GOLD CORP | COM | 496902404 | 1,695,236 | 0.49 | 71670.0 |
| TSAT | NEW | TELESAT CORP | CL A & CL B SHS | 879512309 | 1,579,786 | 0.45 | 31180.0 |
| RBA | REDUCED | RB GLOBAL INC | COM | 74935Q107 | 1,374,110 | 0.39 | 11800.0 |
| - | SUNSHINE SILVER MNG & REFNG | COMMON STOCK | 867866105 | 1,322,000 | 0.38 | 100000.0 | |
| NTR | REDUCED | NUTRIEN LTD | COM | 67077M108 | 1,300,756 | 0.37 | 20700.0 |
| DCBO | NEW | DOCEBO INC | COM | 25609L105 | 1,170,506 | 0.34 | 65500.0 |
| GIL | ADDED | GILDAN ACTIVEWEAR INC | COM | 375916103 | 1,139,854 | 0.33 | 22131.0 |
| BGSI | REDUCED | BOYD GROUP SERVICES INC | COM | 103310108 | 387,072 | 0.11 | 4092.0 |
| WCN | REDUCED | WASTE CONNECTIONS INC | COM | 94106B101 | 291,393 | 0.08 | 1750.0 |
Quarterly portfolios
| Period | Filed | Value ($) | Positions | Vol % | Beta | Max DD % |
|---|---|---|---|---|---|---|
| 2026-06-30 | 2026-08-12 | 347,890,948 | 62 | 6.701072 | 0.086607 | 12.467174 |
| 2026-03-31 | 2026-05-11 | 352,056,573 | 59 | 6.688842 | 0.097306 | 11.689071 |
| 2025-12-31 | 2026-02-10 | 404,231,362 | 61 | 6.876955 | 0.152563 | 11.630535 |
| 2025-09-30 | 2025-11-13 | 359,489,295 | 64 | 6.931937 | 0.166834 | 10.390607 |
| 2025-03-31 | 2025-05-12 | 255,717,848 | 64 | 5.87376 | 0.140427 | 8.723585 |
| 2024-12-31 | 2025-02-07 | 296,175,069 | 69 | 6.560426 | 0.207262 | 10.853492 |