13F HOLDINGS REPORT
PCJ Investment Counsel Ltd.
Quarter ended Q4 2025 · Filed February 10, 2026 · Accession 0001426318-26-000001
Total Value
$404.2M
Positions
61
Other Managers
0
Confidential Omitted
No
Holdings (61)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | BROOKFIELD BUSINESS PARTNERS | BBUC | 1,163,486 | $41.2M | 10.18% |
| 2 | CRH PLC | CRH | 187,230 | $23.4M | 5.78% |
| 3 | CAE INC | CAE | 760,585 | $23.1M | 5.72% |
| 4 | BOYD GROUP SERVICES INC | BGSI | 115,230 | $18.4M | 4.54% |
| 5 | BROOKFIELD CORP | 11271J107 | 334,090 | $15.3M | 3.79% |
| 6 | ENERFLEX LTD | EFXT | 894,086 | $13.8M | 3.41% |
| 7 | ROYAL BK CDA | 780087102 | 80,850 | $13.8M | 3.41% |
| 8 | EQUINOX GOLD CORP | EQX | 881,940 | $12.4M | 3.07% |
| 9 | SHOPIFY INC | SHOP | 70,710 | $11.4M | 2.82% |
| 10 | TORONTO DOMINION BK ONT | TORO | 115,540 | $10.9M | 2.69% |
| 11 | IAMGOLD CORP | IAG | 642,050 | $10.6M | 2.62% |
| 12 | CARVANA CO | CVNA | 21,900 | $9.2M | 2.29% |
| 13 | RB GLOBAL INC | RBA | 82,690 | $8.5M | 2.11% |
| 14 | METHANEX CORP | MEOH | 208,630 | $8.3M | 2.05% |
| 15 | BAYTEX ENERGY CORP | BTE | 2,483,638 | $8.0M | 1.99% |
| 16 | DENISON MINES CORP | DNN | 2,918,810 | $7.7M | 1.91% |
| 17 | CGI INC | GIB | 75,930 | $7.0M | 1.74% |
| 18 | ORLA MNG LTD NEW | 68634K106 | 517,480 | $7.0M | 1.72% |
| 19 | CENOVUS ENERGY INC | CVE | 406,470 | $6.9M | 1.70% |
| 20 | BROOKFIELD INFRAST PARTNERS | G16252101 | 183,780 | $6.4M | 1.58% |
| 21 | PAN AMERN SILVER CORP | 697900108 | 118,918 | $6.2M | 1.53% |
| 22 | GILDAN ACTIVEWEAR INC | GIL | 91,000 | $5.7M | 1.41% |
| 23 | BANK NOVA SCOTIA HALIFAX | 064149107 | 74,230 | $5.5M | 1.35% |
| 24 | AGNICO EAGLE MINES LTD | AEM | 32,170 | $5.5M | 1.35% |
| 25 | BANK MONTREAL QUE | 063671101 | 41,850 | $5.4M | 1.34% |
| 26 | TASEKO MINES LTD | TGB | 950,290 | $5.4M | 1.33% |
| 27 | PEMBINA PIPELINE CORP | PPLOF | 140,320 | $5.3M | 1.32% |
| 28 | ENBRIDGE INC | ENNPF | 111,310 | $5.3M | 1.32% |
| 29 | ENDEAVOUR SILVER CORP | EXK | 561,640 | $5.3M | 1.31% |
| 30 | CAPITAL ONE FINL CORP | 14040H105 | 20,400 | $4.9M | 1.22% |
| 31 | ROYAL GOLD INC | RGLD | 21,468 | $4.8M | 1.18% |
| 32 | FORTUNA MNG CORP | 349942102 | 486,520 | $4.8M | 1.18% |
| 33 | NEXGEN ENERGY LTD | NXE | 506,190 | $4.7M | 1.15% |
| 34 | BARRICK MNG CORP | 06849F108 | 105,880 | $4.6M | 1.14% |
| 35 | AMERICAS GOLD AND SILVER COR | 03062D803 | 861,090 | $4.4M | 1.09% |
| 36 | FIRST MAJESTIC SILVER CORP | AG | 256,360 | $4.3M | 1.06% |
| 37 | CANADIAN NAT RES LTD | 136385101 | 119,800 | $4.1M | 1.00% |
| 38 | MANULIFE FINL CORP | 56501R106 | 106,961 | $3.9M | 0.96% |
| 39 | CANADIAN PACIFIC KANSAS CITY | CP | 51,710 | $3.8M | 0.94% |
| 40 | AMERICAN EXPRESS CO | AXP | 9,940 | $3.7M | 0.91% |
| 41 | TELESAT CORP | TSAT | 117,498 | $3.4M | 0.84% |
| 42 | SKEENA RES LTD NEW | 83056P715 | 142,470 | $3.4M | 0.84% |
| 43 | WHEATON PRECIOUS METALS CORP | WPM | 28,390 | $3.3M | 0.83% |
| 44 | SUNCOR ENERGY INC NEW | SU | 75,180 | $3.3M | 0.83% |
| 45 | CANADIAN NATL RY CO | 136375102 | 32,150 | $3.2M | 0.79% |
| 46 | VIZSLA SILVER CORP | VZLA | 551,440 | $3.0M | 0.75% |
| 47 | AMCOR PLC | AMCCF | 360,395 | $3.0M | 0.74% |
| 48 | ERO COPPER CORP | ERO | 93,219 | $2.6M | 0.65% |
| 49 | KINROSS GOLD CORP | KGCRF | 91,180 | $2.6M | 0.64% |
| 50 | CENTERRA GOLD INC | CGAU | 145,980 | $2.1M | 0.52% |
| 51 | CAMECO CORP | CCJ | 22,490 | $2.1M | 0.51% |
| 52 | KNIGHT-SWIFT TRANSN HLDGS IN | 499049104 | 29,660 | $1.6M | 0.38% |
| 53 | LIGHTSPEED COMMERCE INC | LSPD | 122,630 | $1.5M | 0.37% |
| 54 | NUTRIEN LTD | NTR | 23,930 | $1.5M | 0.37% |
| 55 | TECK RESOURCES LTD | TCKRF | 29,700 | $1.4M | 0.35% |
| 56 | CELESTICA INC | CLS | 4,610 | $1.4M | 0.34% |
| 57 | ENERGY FUELS INC | UUUU | 72,980 | $1.1M | 0.26% |
| 58 | OLD DOMINION FREIGHT LINE IN | ODFL | 5,980 | $937,664 | 0.23% |
| 59 | TFI INTL INC | 87241L109 | 8,740 | $903,405 | 0.22% |
| 60 | OR ROYALTIES INC. | OR | 24,890 | $880,857 | 0.22% |
| 61 | CANADIAN IMPERIAL BANK OF CO | CNDIF | 5,450 | $494,086 | 0.12% |