PORTLAND INVESTMENT COUNSEL INC.
SEC Form 13F institutional filer · CIK 0001081668
13F-HR · 27 reported holdings · 2026-03-31
Reported long-US-equity value
$0.18B
Top-10 concentration
90.6%
PORTLAND INVESTMENT COUNSEL INC. — $182M AUM allocation strategy
PORTLAND INVESTMENT COUNSEL INC. files SEC Form 13F and reports $182M of long US equity value across 27 reported holdings for 2026-03-31.
Its largest sector bet is Financials 37.4%, followed by Health Care 27.2% and Communication Services 26.0%.
The top 10 holdings account for 91% of reported value — a conviction-weighted book concentrated in its best ideas. The sector and industry splits below are of the same reported value. Track quarter-over-quarter adds, trims, new positions and exits below — sourced from SEC 13F filings, public domain.
PORTLAND INVESTMENT COUNSEL INC. — latest SEC 13F insights
Reported long-US-equity value (13F AUM)
$182M
total across 27 reported holdings · 2026-03-31 · excludes shorts, cash, non-US
Top-10 concentration
91% of value
higher = narrower conviction; lower = spread / hedging
Biggest adds (shares)
+$ARES +25.4K sh · −$2.38M+$JPM +2.75K sh · +$722K+$AMZN +1.71K sh · +$182K
Sector allocation (share of reported value)
each slice is a share of the reported long-US-equity value — smaller sectors and the rest of the book roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Industry allocation (share of reported value)
- Multi-Sector Holdings27.7%—
- Integrated Telecommunication Services23.9%—
- Health Care Services10.6%—
- Managed Health Care9.3%—
- Asset Management & Custody Banks7.3%—
- Life Sciences Tools & Services6.6%—
- Interactive Media & Services2.1%—
- Hotels, Resorts & Cruise Lines2.0%—
- Other holdings10.6%—
the finer GICS cut of the same book — same denominator — smaller industries roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Top S&P 500 holdings
10 of 10 rows · sorted by Value ↓
| Ticker | Holding | Shares | Value | Δ QoQ | Weight |
|---|---|---|---|---|---|
| $BRK.B | Berkshire Hathaway Inc.-Class B | 105K | $50.3M | +794 | 27.7% |
| $VZ | Verizon Communications Inc | 865K | $43.4M | +0 | 23.9% |
| $CI | The Cigna Group | 72.2K | $19.3M | +0 | 10.6% |
| $ELV | Elevance Health Inc | 58.1K | $17M | +0 | 9.4% |
| $ARES | Ares Management Corporation | 121K | $13.2M | +25.4K | 7.3% |
| $DHR | Danaher Corporation | 62.7K | $11.9M | +0 | 6.5% |
| $CCL | Carnival Corporation Ltd | 140K | $3.61M | +0 | 2.0% |
| $NVDA | NVIDIA Corporation | 11.3K | $1.97M | +970 | 1.1% |
| $GOOG | Alphabet Inc. Class C Capital Stock | 6.79K | $1.95M | -50 | 1.1% |
| $GS | Goldman Sachs Group Inc | 2.28K | $1.93M | +27 | 1.1% |
…and 17 more holdings in the full 13F filing (top positions only shown).
SEC Form 13F data sets · public domain · 45-day filing lag · >$100M AUM managers · as reported
← All 13F filers·← QuantOrb.pro
How to read Δ QoQ — the five insight categories, and the caveats
The categories. Analysts, quants and retail traders look past total portfolio value to isolate actionable signals. Five categories matter.
Conviction & concentration shifts
New positions vs complete exits — a brand-new stock signals high conviction; a full liquidation suggests a broken thesis or tax-loss harvesting. Aggressive sizing — look at share count, not dollars: a 20% share increase during a drawdown is strong dip-buying. Concentration — a narrowing top-5/10 means conviction; spreading capital across more names means hedging.
Sector & macro allocation rotations
Aggregating Δ QoQ moves across sectors shows where smart money is leaning in or sneaking out — rotating out of growth into defensives or energy, for example. The fund's total long equity exposure quarter-over-quarter is a proxy for overall institutional risk appetite.
Crowding & smart-money consensus
When several managers initiate or expand the same stock in the same quarter, that is institutional consensus. Contrarian reads: top pickers buying hard into a beaten-down name the market is selling.
Derivative & option overlays
Reported call/put changes indicate whether managers are adding downside hedges or leveraging upside exposure. Note: a long increase may be half of a market-neutral pair trade.
Who reads this
| Retail "cloners" | High-conviction ideas to replicate ~45 days after quarter-end. |
| Corporate IR | Which funds bought or dumped the stock, before the next call. |
| Quant / algo traders | Cross-sectional factor inputs: flow, momentum, ownership. |
Four caveats before you trade on it
- 45-day lag — holdings are quarter-end; positions may already be closed.
- Long-only — 13Fs miss shorts, pair trades and cash.
- No non-US / fixed income — the picture is US equities plus options.
- Corporate actions — splits and spinoffs distort raw share deltas.
Newsletter signup
Free subscription. Daily trading day morning dispatch. No spam.