Pcj Investment Counsel 13F annual report

Pcj Investment Counsel is an investment fund managing more than $216 billion ran by Heiki Altosaar. There are currently 72 companies in Mr. Altosaar’s portfolio. The largest investments include RB Global Inc and Canadian Pacific Kansas City, together worth $22.9 billion.

Limited to 30 biggest holdings

$216 billion Assets Under Management (AUM)

As of 1st August 2024, Pcj Investment Counsel’s top holding is 157,340 shares of RB Global Inc currently worth over $12 billion and making up 5.6% of the portfolio value. Relative to the number of outstanding shares of RB Global Inc, Pcj Investment Counsel owns more than approximately 0.1% of the company. In addition, the fund holds 138,590 shares of Canadian Pacific Kansas City worth $10.9 billion. The third-largest holding is Brookfield Infrast Partners worth $10.3 billion and the next is Rogers Communications worth $8.9 billion, with 240,480 shares owned.

Currently, Pcj Investment Counsel's portfolio is worth at least $216 billion. The total portfolio value may be much higher due to cash assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents.

Careers at Pcj Investment Counsel

The Pcj Investment Counsel office and employees reside in Toronto, Ontario, Canada. According to the last 13-F report filed with the SEC, Heiki Altosaar serves as the Chief Compliance Officer at Pcj Investment Counsel.

Recent trades

In the most recent 13F filing, Pcj Investment Counsel revealed that it had opened a new position in Microsoft and bought 5,000 shares worth $2.23 billion. This means they effectively own approximately 0.1% of the company. Microsoft makes up 13.9% of the fund's Technology sector allocation and has grown its share price by 22.2% in the past year.

The investment fund also strengthened its position in RB Global Inc by buying 47,850 additional shares. This makes their stake in RB Global Inc total 157,340 shares worth $12 billion. RB Global Inc soared 33.1% in the past year.

On the other hand, there are companies that Pcj Investment Counsel is getting rid of from its portfolio. Pcj Investment Counsel closed its position in West Fraser Timber Co Ltd on 8th August 2024. It sold the previously owned 102,400 shares for $8.85 billion. Heiki Altosaar also disclosed a decreased stake in Canadian Pacific Kansas City by approximately 0.1%. This leaves the value of the investment at $10.9 billion and 138,590 shares.

One of the smallest hedge funds

The two most similar investment funds to Pcj Investment Counsel are Dorval Corp and Simplifi. They manage $216 billion and $216 billion respectively.


Heiki Altosaar investment strategy

Pcj Investment Counsel’s portfolio is diversified across 10 sectors. Currently, their heaviest sector is Materials — making up 15.8% of the total portfolio value. The fund focuses on investments in the Canada as 47.2% of the portfolio companies are based in the Canada.

The majority of the companies in the fund’s portfolio are large-cap stocks. Stocks with a size of more than $10 billion in market cap make up 32% of the total holdings value. On the other hand, small-cap stocks make up only 1.4% of the portfolio. The average market cap of the portfolio companies is close to $60.4 billion.

The complete list of Pcj Investment Counsel trades based on 13F SEC filings

These positions were updated on August 8th based on the fund’s latest 13F filing. Quickly find out what the most recently closed or increased positions are.

Security Shares Owned Value Allocation
RB Global Inc
43.70%
157,340
$12,011,042,000 5.56%
Canadian Pacific Kansas City
5.50%
138,590
$10,913,923,000 5.05%
Brookfield Infrast Partners
78.31%
374,720
$10,286,047,000 4.76%
Rogers Communications Inc.
28.77%
240,480
$8,895,411,000 4.12%
West Fraser Timber Co Ltd
Closed
102,400
$8,849,408,000
Royal Bk Cda
18.01%
75,770
$8,067,898,000 3.74%
Suncor Energy, Inc.
123.44%
172,440
$6,573,825,000 3.04%
Manulife Finl Corp
30.75%
225,791
$6,012,128,000 2.78%
Triple Flag Precious Metal
Closed
406,589
$5,876,839,000
Enerflex Ltd
16.34%
1,084,760
$5,852,517,000 2.71%
TC Energy Corporation
28.10%
153,700
$5,825,963,000 2.70%
Colliers Intl Group Inc
47.91%
51,910
$5,796,183,000 2.68%
Uber Technologies Inc
53.21%
75,700
$5,501,876,000 2.55%
United Rentals, Inc.
4.00%
8,170
$5,283,784,000 2.45%
Cenovus Energy Inc
36.25%
265,030
$5,210,061,000 2.41%
Shopify Inc
22.55%
69,450
$4,590,303,000 2.13%
Osisko Gold Royalties Ltd
38.60%
290,854
$4,533,304,000 2.10%
Brookfield Corp
36.72%
107,130
$4,456,316,000 2.06%
Canadian Nat Res Ltd
92.33%
120,310
$4,285,986,000 1.98%
Builders Firstsource Inc
Closed
20,000
$4,171,000,000
Crescent Pt Energy Corp
Closed
480,950
$3,935,837,000
Amazon.com Inc.
37.53%
19,570
$3,781,903,000 1.75%
Toronto Dominion Bk Ont
33.06%
68,540
$3,768,032,000 1.74%
Ero Copper Corp
174.92%
170,450
$3,643,569,000 1.69%
Alamos Gold Inc.
15.27%
226,090
$3,545,894,000 1.64%
XPO Inc
78.20%
29,670
$3,149,471,000 1.46%
MAG Silver Corp.
969.68%
267,420
$3,124,088,000 1.45%
Wells Fargo Co New
100.78%
48,910
$2,904,765,000 1.35%
Enbridge Inc
3.70%
77,608
$2,761,344,000 1.28%
GE Aerospace
30.77%
17,000
$2,702,490,000 1.25%
Denison Mines Corp
0.37%
1,322,600
$2,649,304,000 1.23%
Bank Nova Scotia Halifax
25.55%
56,755
$2,596,524,000 1.20%
Parker-Hannifin Corp.
50.00%
5,000
$2,529,050,000 1.17%
Instructure Hldgs Inc
Closed
112,180
$2,398,408,000
Hudbay Minerals Inc.
36.75%
261,000
$2,362,184,000 1.09%
Agnico Eagle Mines Ltd
69.43%
34,660
$2,267,291,000 1.05%
Microsoft Corporation
Opened
5,000
$2,234,750,000 1.03%
Teck Resources Ltd
5.04%
46,500
$2,228,664,000 1.03%
Beacon Roofing Supply Inc
144.60%
24,460
$2,213,630,000 1.03%
Docebo Inc.
52.90%
57,266
$2,211,720,000 1.02%
Gildan Activewear Inc
7.51%
58,000
$2,199,699,000 1.02%
GFL Environmental Inc.
22.75%
55,550
$2,162,904,000 1.00%
Enerplus Corporation
Closed
107,900
$2,120,624,000
Quanta Svcs Inc
Opened
8,320
$2,114,029,000 0.98%
Tjx Cos Inc New
Closed
20,610
$2,090,266,000
Descartes Sys Group Inc
Opened
21,080
$2,041,723,000 0.95%
Carlisle Cos Inc
Closed
5,000
$1,959,250,000
VanEck ETF Trust
Closed
50,000
$1,937,000,000
Carvana Co.
Opened
15,000
$1,930,800,000 0.89%
Aercap Holdings Nv
Opened
20,010
$1,864,932,000 0.86%
Centerra Gold Inc
Opened
272,246
$1,831,057,000 0.85%
Bank Montreal Que
35.11%
21,500
$1,804,872,000 0.84%
SilverCrest Metals Inc
54.01%
219,840
$1,796,806,000 0.83%
Canadian Imperial Bk Comm To
41.29%
36,370
$1,729,590,000 0.80%
Sun Life Financial, Inc.
42.30%
34,180
$1,676,169,000 0.78%
NexGen Energy Ltd
24.96%
237,310
$1,655,073,000 0.77%
Xponential Fitness, Inc.
Closed
100,000
$1,654,000,000
Wheaton Precious Metals Corp
3.12%
31,350
$1,643,959,000 0.76%
Skeena Res Ltd New
51.58%
303,160
$1,626,749,000 0.75%
CGI Inc
29.09%
15,710
$1,568,269,000 0.73%
Fortis Inc.
Opened
39,410
$1,531,883,000 0.71%
TFI International Inc
Opened
10,550
$1,531,671,000 0.71%
Capital One Finl Corp
Closed
10,000
$1,488,900,000
First Majestic Silver Corporation
23.77%
250,960
$1,486,080,000 0.69%
Kinross Gold Corp.
78.49%
173,390
$1,443,778,000 0.67%
Franco Nev Corp
11.25%
11,830
$1,402,776,000 0.65%
Howmet Aerospace Inc.
Closed
20,000
$1,368,600,000
Thomson-Reuters Corp
43.09%
7,936
$1,337,927,000 0.62%
Energy Fuels Inc
31.08%
219,890
$1,332,639,000 0.62%
Cameco Corp.
61.76%
25,720
$1,265,620,000 0.59%
Endeavour Silver Corp.
75.67%
351,330
$1,235,415,000 0.57%
Royal Gold, Inc.
Closed
10,000
$1,218,100,000
Fortuna Mng Corp
Opened
240,930
$1,178,337,000 0.55%
Apollo Global Mgmt Inc
64.44%
9,780
$1,154,725,000 0.53%
Progressive Corp.
2.30%
5,530
$1,148,636,000 0.53%
Iamgold Corp.
Opened
301,150
$1,131,615,000 0.52%
Pembina Pipeline Corporation
48.69%
28,970
$1,075,035,000 0.50%
Precision Drilling Corp
0.41%
14,720
$1,035,227,000 0.48%
Union Pac Corp
3.44%
4,210
$952,555,000 0.44%
Open Text Corp
Closed
23,670
$918,863,000
Nutrien Ltd
Opened
17,900
$911,437,000 0.42%
Restaurant Brands International Inc
71.35%
11,910
$839,347,000 0.39%
Veren Inc.
Opened
74,670
$589,007,000 0.27%
Algonquin Pwr Utils Corp
Opened
95,700
$560,885,000 0.26%
ArcBest Corp
Closed
3,100
$441,750,000
Knight-swift Transn Hldgs In
Closed
7,900
$434,658,000
Hunt J B Trans Svcs Inc
Closed
2,100
$418,425,000
Waste Connections Inc
Closed
1,710
$294,108,000
Primo Water Corporation
27.80%
9,220
$201,537,000 0.09%
Orla Mng Ltd New
74.94%
50,190
$192,632,000 0.09%
Transalta Corp.
Closed
25,000
$160,456,000
No transactions found
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