PCJ Investment Counsel Ltd.
Net buyer this quarter
$348M
61
+$4.98M
38.4%
Holdings
| Company | Value | % of portfolio | % of company | POSITION CHANGE qoq % | First reported |
|---|---|---|---|---|---|
| Q2 2026 | |||||
 BBUC | $23.3M | 6.70% | 0.89% | -20.2% | Q1 2026 |
 RY | $16.8M | 4.82% | 0.01% | -3.3% | Q2 2013 |
 EFXT | $14.8M | 4.26% | 0.50% | -8.6% | Q4 2022 |
 TD | $13.5M | 3.88% | 0.01% | -8.8% | Q2 2013 |
 BTE | $13.4M | 3.84% | 0.44% | +18.9% | Q3 2016 |
 CRH | $11.5M | 3.30% | 0.02% | -4.8% | Q3 2024 |
 HBM | $11.2M | 3.22% | 0.12% | +194.0% | Q2 2013 |
| BIP | $10.8M | 3.10% | Not reported | +1.0% | Q3 2021 |
 CVE | $9.17M | 2.64% | 0.02% | -16.7% | Q2 2013 |
 TAC | $9.03M | 2.60% | 0.22% | Not reported | Q4 2016 |
 SHOP | $8.82M | 2.54% | 0.02% | +3.1% | Q1 2017 |
 BNS | $8.61M | 2.48% | 0.01% | +1374.0% | Q2 2013 |
 CAE | $8.48M | 2.44% | 0.11% | -56.7% | Q4 2021 |
 BMO | $8.25M | 2.37% | 0.01% | +8.0% | Q4 2016 |
 CNI | $7.74M | 2.23% | 0.01% | +4.3% | Q2 2013 |
 DNN | $7.49M | 2.15% | 0.27% | -8.1% | Q2 2013 |
| BN | $7.45M | 2.14% | Not reported | +73.0% | Q4 2022 |
 ENB | $6.92M | 1.99% | 0.01% | +3.4% | Q2 2013 |
 CM | $6.29M | 1.81% | 0.01% | -7.2% | Q2 2013 |
 IAG | $6.18M | 1.78% | 0.07% | -3.1% | Q2 2016 |
 CLS | $6.08M | 1.75% | 0.01% | +77.6% | Q3 2016 |
 ALM | $6.06M | 1.74% | 0.14% | +83.3% | Q1 2026 |
 TGB | $5.73M | 1.65% | 0.23% | New | Q2 2026 |
 KNX | $5.71M | 1.64% | 0.05% | +64.4% | Q1 2024 |
 ERO | $5.27M | 1.51% | 0.19% | -6.8% | Q2 2021 |
 CNQ | $5.23M | 1.50% | 0.01% | +3.6% | Q2 2013 |
 MFC | $4.95M | 1.42% | Not reported | +21.3% | Q2 2013 |
 CP | $4.89M | 1.41% | 0.01% | +5.2% | Q4 2013 |
 SU | $4.72M | 1.36% | 0.01% | +5.5% | Q2 2013 |
 AEM | $4.55M | 1.31% | 0.01% | -3.4% | Q1 2014 |
 PBA | $4.52M | 1.30% | 0.02% | -1.7% | Q3 2014 |
 OGC | $4.16M | 1.20% | Not reported | New | Q2 2026 |
 LSPD | $4.16M | 1.20% | 0.29% | +58.6% | Q1 2022 |
 SKE | $3.8M | 1.09% | 0.12% | +0.8% | Q1 2024 |
 PPTA | $3.74M | 1.08% | 0.14% | +10.0% | Q1 2026 |
 EXK | $3.46M | 0.99% | 0.16% | +0.8% | Q4 2016 |
 B | $3.37M | 0.97% | 0.01% | -3.3% | Q2 2025 |
 TRI | $3.35M | 0.96% | 0.01% | Not reported | Q4 2018 |
 FSM | $3.31M | 0.95% | 0.13% | +51.5% | Q3 2016 |
 CCJ | $3.26M | 0.94% | 0.01% | +3.5% | Q1 2022 |
 WPM | $3.23M | 0.93% | 0.01% | -4.3% | Q2 2017 |
 EQX | $3.21M | 0.92% | 0.04% | -40.6% | Q3 2019 |
 TECK | $2.93M | 0.84% | Not reported | -23.6% | Q2 2013 |
 TFII | $2.82M | 0.81% | 0.02% | -45.6% | Q1 2020 |
 NXE | $2.67M | 0.77% | 0.04% | -19.9% | Q3 2017 |
 GFR | $2.51M | 0.72% | 0.35% | New | Q2 2026 |
 ATS | $2.47M | 0.71% | 0.09% | +71.3% | Q2 2023 |
 ARIS | $2.25M | 0.65% | 0.07% | -41.8% | Q1 2026 |
 FNV | $2.22M | 0.64% | 0.01% | Not reported | Q2 2013 |
 USAS | $2.18M | 0.63% | 0.14% | +0.8% | Q3 2025 |
| Q1 2026 | |||||
| BBUC | $31M | 8.80% | 1.12% | New | Q1 2026 |
| CAE | $20.4M | 5.80% | 0.24% | +2.9% | Q4 2021 |
| EFXT | $13.8M | 3.93% | 0.54% | -26.0% | Q4 2022 |
| RY | $13.6M | 3.85% | 0.01% | +3.7% | Q2 2013 |
| BTE | $12.5M | 3.56% | 0.37% | +13.0% | Q3 2016 |
 BGSI | $12M | 3.41% | 0.34% | -18.5% | Q4 2025 |
| CRH | $11.9M | 3.37% | 0.02% | -39.8% | Q3 2024 |
| CVE | $11.7M | 3.33% | 0.02% | +9.0% | Q2 2013 |
| TD | $11.4M | 3.23% | 0.01% | +5.5% | Q2 2013 |
| BIP | $10.6M | 3.01% | Not reported | +59.5% | Q3 2021 |
| DNN | $9.43M | 2.68% | 0.29% | -8.9% | Q2 2013 |
| SHOP | $8.88M | 2.52% | 0.02% | +5.9% | Q1 2017 |
| EQX | $8.02M | 2.28% | 0.07% | -37.0% | Q3 2019 |
 GFL | $7.84M | 2.23% | Not reported | Not reported | Q1 2020 |
| IAG | $7.59M | 2.15% | 0.07% | -37.2% | Q2 2016 |
| ENB | $6.7M | 1.90% | 0.01% | +11.0% | Q2 2013 |
| CNI | $6.41M | 1.82% | 0.01% | +93.7% | Q2 2013 |
| CNQ | $6.23M | 1.77% | 0.01% | +6.7% | Q2 2013 |
| AEM | $6.19M | 1.76% | 0.01% | -5.3% | Q1 2014 |
| BMO | $5.87M | 1.67% | 0.01% | +3.5% | Q4 2016 |
| ERO | $5.65M | 1.60% | 0.20% | +127.3% | Q2 2021 |
| CM | $5.58M | 1.58% | 0.01% | +981.3% | Q2 2013 |
| BEP | $5.57M | 1.58% | 0.06% | New | Q1 2026 |
| SU | $5.5M | 1.56% | 0.01% | +10.7% | Q2 2013 |
| ARIS | $4.82M | 1.37% | 0.13% | New | Q1 2026 |
| PPTA | $4.62M | 1.31% | 0.13% | New | Q1 2026 |
 CGAU | $4.53M | 1.29% | 0.13% | +74.9% | Q2 2024 |
| PBA | $4.46M | 1.27% | 0.02% | -29.1% | Q3 2014 |
| CP | $4.23M | 1.20% | 0.01% | +3.9% | Q4 2013 |
| SKE | $4.21M | 1.20% | 0.12% | -0.7% | Q1 2024 |
| NXE | $4.11M | 1.17% | 0.05% | -30.0% | Q3 2017 |
| BN | $4.09M | 1.16% | Not reported | -69.8% | Q4 2022 |
| WPM | $3.94M | 1.12% | 0.01% | +5.6% | Q2 2017 |
| TFII | $3.92M | 1.11% | 0.04% | +312.1% | Q1 2020 |
| B | $3.88M | 1.10% | 0.01% | -10.3% | Q2 2025 |
| EXK | $3.86M | 1.10% | 0.16% | -26.4% | Q4 2016 |
| MFC | $3.47M | 0.99% | Not reported | -5.8% | Q2 2013 |
| HBM | $3.39M | 0.96% | 0.04% | Not reported | Q2 2013 |
| CCJ | $3.36M | 0.95% | 0.01% | +37.5% | Q1 2022 |
| TECK | $3.33M | 0.95% | Not reported | +116.9% | Q2 2013 |
| ALM | $2.91M | 0.83% | 0.08% | New | Q1 2026 |
 FTS | $2.77M | 0.79% | 0.01% | Not reported | Q4 2016 |
 KGC | $2.68M | 0.76% | 0.01% | -3.9% | Q3 2017 |
| CLS | $2.65M | 0.75% | 0.01% | +103.5% | Q3 2016 |
| FSM | $2.57M | 0.73% | 0.08% | -46.9% | Q3 2016 |
| KNX | $2.57M | 0.73% | 0.03% | +50.4% | Q1 2024 |
| USAS | $2.39M | 0.68% | 0.14% | -46.8% | Q3 2025 |
| LSPD | $2.24M | 0.64% | 0.18% | +104.6% | Q1 2022 |
 NTR | $2.21M | 0.63% | 0.01% | +22.4% | Q1 2018 |
 CVNA | $2.04M | 0.58% | Not reported | -70.3% | Q2 2024 |
| Q4 2025 | |||||
| BBU | $41.2M | 10.18% | Not reported | -13.1% | Q2 2018 |
| CRH | $23.4M | 5.78% | 0.03% | +2.4% | Q3 2024 |
| CAE | $23.1M | 5.72% | 0.24% | +42.5% | Q4 2021 |
| BGSI | $18.4M | 4.54% | 0.41% | New | Q4 2025 |
| BN | $15.3M | 3.79% | Not reported | -4.3% | Q4 2022 |
| EFXT | $13.8M | 3.41% | 0.73% | -23.4% | Q4 2022 |
| RY | $13.8M | 3.41% | 0.01% | +1.1% | Q2 2013 |
| EQX | $12.4M | 3.07% | 0.11% | +32.0% | Q3 2019 |
| SHOP | $11.4M | 2.82% | 0.02% | +3.7% | Q1 2017 |
| TD | $10.9M | 2.69% | 0.01% | +14.7% | Q2 2013 |
| IAG | $10.6M | 2.62% | 0.11% | -14.1% | Q2 2016 |
| CVNA | $9.24M | 2.29% | Not reported | -9.9% | Q2 2024 |
 RBA | $8.51M | 2.11% | 0.04% | +3.2% | Q2 2023 |
 MEOH | $8.28M | 2.05% | 0.27% | +77.2% | Q4 2014 |
| BTE | $8.03M | 1.99% | 0.32% | Not reported | Q3 2016 |
| DNN | $7.74M | 1.91% | 0.32% | +42.7% | Q2 2013 |
 GIB | $7.01M | 1.74% | Not reported | Not reported | Q2 2013 |
| CVE | $6.88M | 1.70% | 0.02% | -1.7% | Q2 2013 |
| BIP | $6.39M | 1.58% | Not reported | +8.7% | Q3 2021 |
 PAAS | $6.17M | 1.53% | 0.03% | -36.3% | Q2 2016 |
 GIL | $5.69M | 1.41% | 0.05% | +59.7% | Q2 2014 |
| BNS | $5.47M | 1.35% | 0.01% | +8.2% | Q2 2013 |
| AEM | $5.46M | 1.35% | 0.01% | -6.4% | Q1 2014 |
| BMO | $5.44M | 1.34% | 0.01% | -12.0% | Q4 2016 |
| PBA | $5.34M | 1.32% | 0.02% | +9.8% | Q3 2014 |
| ENB | $5.33M | 1.32% | 0.01% | +5.5% | Q2 2013 |
| EXK | $5.28M | 1.31% | 0.21% | -17.1% | Q4 2016 |
 COF | $4.94M | 1.22% | 0.00% | -55.2% | Q2 2021 |
 RGLD | $4.77M | 1.18% | 0.03% | Not reported | Q1 2024 |
| FSM | $4.77M | 1.18% | 0.16% | +24.2% | Q3 2016 |
| NXE | $4.66M | 1.15% | 0.08% | -2.7% | Q3 2017 |
| B | $4.61M | 1.14% | 0.01% | +21.5% | Q2 2025 |
| USAS | $4.42M | 1.09% | 0.27% | +102.6% | Q3 2025 |
 AG | $4.28M | 1.06% | 0.05% | -29.5% | Q4 2014 |
| CNQ | $4.06M | 1.00% | 0.01% | +3.5% | Q2 2013 |
| MFC | $3.88M | 0.96% | Not reported | +3.5% | Q2 2013 |
| CP | $3.81M | 0.94% | 0.01% | +4.3% | Q4 2013 |
 AXP | $3.68M | 0.91% | 0.00% | Not reported | Q2 2021 |
 TSAT | $3.39M | 0.84% | Not reported | +4.7% | Q1 2025 |
| SKE | $3.38M | 0.84% | 0.12% | -2.3% | Q1 2024 |
| WPM | $3.34M | 0.83% | 0.01% | 0.0% | Q2 2017 |
| SU | $3.34M | 0.83% | 0.01% | +3.2% | Q2 2013 |
| CNI | $3.18M | 0.79% | 0.01% | +28.7% | Q2 2013 |
 VZLA | $3.02M | 0.75% | 0.18% | -2.7% | Q3 2025 |
 AMCR | $3.01M | 0.74% | 0.02% | -54.3% | Q2 2025 |
| ERO | $2.64M | 0.65% | 0.09% | +171.5% | Q2 2021 |
| KGC | $2.57M | 0.64% | 0.01% | -34.1% | Q3 2017 |
| CGAU | $2.1M | 0.52% | 0.07% | -2.4% | Q2 2024 |
| CCJ | $2.06M | 0.51% | 0.01% | +7.7% | Q1 2022 |
| KNX | $1.55M | 0.38% | 0.02% | Not reported | Q1 2024 |
| Q3 2025 | |||||
| BBU | $43.8M | 12.18% | Not reported | +5.3% | Q2 2018 |
| CRH | $21.9M | 6.10% | 0.03% | -5.2% | Q3 2024 |
| BN | $16M | 4.44% | Not reported | +110.2% | Q4 2022 |
| CAE | $15.8M | 4.40% | 0.17% | +1427.2% | Q4 2021 |
| EFXT | $12.6M | 3.50% | 0.94% | -21.6% | Q4 2022 |
| RY | $11.8M | 3.28% | 0.01% | +2.6% | Q2 2013 |
| SHOP | $10.1M | 2.82% | 0.02% | -2.8% | Q1 2017 |
| COF | $9.68M | 2.69% | 0.01% | +12.8% | Q2 2021 |
| IAG | $9.65M | 2.68% | 0.13% | +71.8% | Q2 2016 |
| CVNA | $9.17M | 2.55% | Not reported | +46.4% | Q2 2024 |
| RBA | $8.68M | 2.42% | 0.04% | -27.2% | Q2 2023 |
| TD | $8.05M | 2.24% | 0.01% | -10.1% | Q2 2013 |
| EQX | $7.49M | 2.08% | 0.15% | +50.4% | Q3 2019 |
| PAAS | $7.23M | 2.01% | 0.05% | +385.0% | Q2 2016 |
| CVE | $7.03M | 1.95% | 0.02% | +413.0% | Q2 2013 |
| AMCR | $6.45M | 1.79% | 0.03% | +16.6% | Q2 2025 |
| BMO | $6.2M | 1.72% | 0.01% | +0.4% | Q4 2016 |
| AEM | $5.79M | 1.61% | 0.01% | -9.5% | Q1 2014 |
| DNN | $5.63M | 1.57% | 0.23% | -0.2% | Q2 2013 |
| BIP | $5.57M | 1.55% | Not reported | -35.5% | Q3 2021 |
 SSL | $5.35M | 1.49% | Not reported | +144.6% | Q3 2016 |
| ENB | $5.32M | 1.48% | 0.00% | -2.1% | Q2 2013 |
| EXK | $5.3M | 1.48% | 0.26% | -0.3% | Q4 2016 |
| PBA | $5.17M | 1.44% | 0.02% | -33.5% | Q3 2014 |
| MEOH | $4.68M | 1.30% | 0.17% | -2.1% | Q4 2014 |
| NXE | $4.66M | 1.30% | 0.09% | -30.3% | Q3 2017 |
| CM | $4.56M | 1.27% | 0.01% | +7.6% | Q2 2013 |
 DSGX | $4.53M | 1.26% | 0.06% | +0.3% | Q1 2019 |
| AG | $4.47M | 1.24% | 0.12% | -27.1% | Q4 2014 |
| BNS | $4.44M | 1.23% | 0.01% | +34.3% | Q2 2013 |
| CNQ | $3.7M | 1.03% | 0.01% | -56.7% | Q2 2013 |
| CP | $3.69M | 1.03% | 0.01% | -38.4% | Q4 2013 |
| FSM | $3.51M | 0.98% | 0.13% | +6.4% | Q3 2016 |
| KGC | $3.43M | 0.95% | 0.01% | +10.4% | Q3 2017 |
 OR | $3.4M | 0.95% | 0.05% | -40.7% | Q2 2025 |
| GIL | $3.29M | 0.92% | 0.04% | Not reported | Q2 2014 |
| MFC | $3.22M | 0.90% | Not reported | -9.7% | Q2 2013 |
| WPM | $3.18M | 0.88% | 0.01% | -0.1% | Q2 2017 |
| SU | $3.05M | 0.85% | 0.01% | +9.2% | Q2 2013 |
 C | $3.03M | 0.84% | 0.00% | Not reported | Q3 2013 |
| TSAT | $2.93M | 0.81% | Not reported | -1.5% | Q1 2025 |
| B | $2.86M | 0.80% | 0.01% | +81.6% | Q2 2025 |
 STN | $2.7M | 0.75% | 0.02% | Not reported | Q2 2013 |
| SKE | $2.69M | 0.75% | 0.14% | -0.1% | Q1 2024 |
 BLDR | $2.68M | 0.75% | 0.02% | Not reported | Q3 2016 |
| VZLA | $2.45M | 0.68% | 0.19% | New | Q3 2025 |
| CNI | $2.36M | 0.66% | 0.00% | -39.7% | Q2 2013 |
 WCN | $2.23M | 0.62% | 0.00% | -6.4% | Q2 2016 |
| CCJ | $1.75M | 0.49% | 0.00% | -9.0% | Q1 2022 |
| NTR | $1.65M | 0.46% | 0.00% | +13.6% | Q1 2018 |