JCIC Asset Management Inc.
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 23, 2025), JCIC Asset Management Inc. reported 164 stock positions worth $239.4 million. Its top holding was Apple (AAPL) at 10.5% of the portfolio, followed by Alphabet Class C (GOOG, 7.1%) and JPMorgan Chase (JPM, 6.8%). Compared with Q4 2024, it opened 31 new positions, sold out of 1, added to 22 and reduced 40. The biggest buy was Shopify Class A (SHOP, shares +5951%) and the biggest sale Canadian Pacific Kansas City (CP, shares −98%).
- Most Recent 13F
- Q2 2026
- Location
- Toronto, A6
- CIK
- 0001492040
- Portfolio Value
- $239.4M (Q1 2025)
- SEC Filing
- 0000950123-25-003643 ↗ filed Apr 23, 2025
Holdings Value
Holdings 164 stocks · $239.4M
| AAPL Apple Inc. | 10.46% | 112,684 | $25.0M | Reduce -1.2% |
| GOOG Alphabet Inc. Class C | 7.08% | 108,462 | $16.9M | Reduce -1.5% |
| JPM JPMorgan Chase & Co. | 6.81% | 66,465 | $16.3M | Reduce -0.7% |
| MSFT Microsoft Corp. | 6.69% | 42,655 | $16.0M | Reduce -1.1% |
| AMZN Amazon.com Inc. | 6.25% | 78,661 | $15.0M | Reduce -1.1% |
| NVDA Nvidia Corp. | 4.24% | 93,582 | $10.1M | Reduce -1.8% |
| V Visa Inc. Class A | 3.87% | 26,406 | $9.3M | Reduce -1.5% |
| AEM Agnico Eagle Mines Ltd. | 3.68% | 81,218 | $8.8M | Reduce -1.4% |
| ENB Enbridge Inc. | 3.66% | 198,040 | $8.8M | Reduce -1.3% |
| IWM iShares Russell 2000 ETF | 3.27% | 39,189 | $7.8M | Reduce -1.7% |
| WCN Waste Connections Inc. | 2.88% | 35,335 | $6.9M | Reduce -1.5% |
| VLO Valero Energy Corp. | 2.66% | 48,166 | $6.4M | Reduce -1.2% |
| SLF Sun Life Financial Inc. | 2.56% | 106,846 | $6.1M | Reduce -1.4% |
| UNH Unitedhealth Group Inc. | 2.50% | 11,436 | $6.0M | Reduce -1.9% |
| HD Home Depot Inc. | 2.24% | 14,657 | $5.4M | Reduce -1.5% |
| TRI Thomson Reuters Corp. | 1.87% | 25,913 | $4.5M | Reduce -1.7% |
| SHOP Shopify Inc. Class A | 1.83% | 45,990 | $4.4M | Add +5951.3% |
| BAM Brookfield Asset Mgmt-A | 1.68% | 82,921 | $4.0M | Reduce -1.5% |
| WMT Walmart Inc. | 1.65% | 44,873 | $3.9M | Reduce -0.9% |
| SONY Sony Group Corp. - SP ADR | 1.63% | 153,410 | $3.9M | Reduce -1.6% |
| TSM Taiwan Semiconductor-SP ADR | 1.60% | 23,066 | $3.8M | Reduce -24.7% |
| CCJ Cameco Corp. | 1.56% | 90,617 | $3.7M | Add +129352.9% |
| FSV Firstservice Corp. | 1.50% | 21,715 | $3.6M | Reduce -1.7% |
| GIL Gildan Activewear Inc. | 1.49% | 80,624 | $3.6M | Reduce -1.6% |
| LLY Eli Lilly & Co. | 1.45% | 4,199 | $3.5M | Reduce -1.7% |
| CSX CSX Corp. | 1.45% | 117,784 | $3.5M | Reduce -0.6% |
| SHEL Shell PLC-ADR | 1.39% | 45,256 | $3.3M | Reduce -1.8% |
| UL Unilever PLC | 1.28% | 51,438 | $3.1M | Reduce -1.3% |
| RYAAY Ryanair Holdings PLC-SP ADR | 1.24% | 69,946 | $3.0M | Reduce -1.5% |
| LIN Linde PLC | 1.23% | 6,349 | $3.0M | Reduce -1.5% |
| SAP Sap SE-Sponsored ADR | 1.17% | 10,400 | $2.8M | Add +5023.1% |
| NVO Novo-Nordisk A/S-Spons ADR | 1.06% | 36,521 | $2.5M | Reduce -1.8% |
| ASML ASML Holding NV-NY Reg SHS | 0.90% | 3,249 | $2.2M | Reduce -1.6% |
| NGG National Grid PLC-SP ADR | 0.84% | 30,685 | $2.0M | Reduce -1.6% |
| OVV Ovintiv Inc. | 0.77% | 42,860 | $1.8M | No change |
| QQQ Invesco QQQ Trust Series 1 | 0.46% | 2,330 | $1.1M | No change |
| BMO Bank of Montreal filed as BANK MONTREAL QUE | 0.25% | 6,348 | $606K | New |
| TD Toronto-Dominion Bank | 0.22% | 8,670 | $520K | Add +0.9% |
| NFLX Netflix Inc. | 0.21% | 546 | $509K | Reduce -2.1% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.14% | 8,058 | $336K | Reduce -4.4% |
| FTS Fortis Inc. | 0.10% | 5,377 | $245K | Add +5.7% |
| MFC Manulife Financial Corp. | 0.09% | 6,749 | $210K | Add +5.6% |
| PBA Pembina Pipeline Corp. | 0.09% | 5,133 | $205K | Add +6.8% |
| IEF iShares 7-10 Year Treasury B | 0.09% | 2,145 | $205K | New |
| MSCI MSCI Inc. | 0.09% | 360 | $204K | No change |
| IEI iShares 3-7 Year Treasury Bo | 0.08% | 1,715 | $203K | New |
| VCSH Vanguard S/T Corp. Bond ETF | 0.08% | 2,560 | $202K | No change |
| T AT&T Inc. | 0.08% | 7,142 | $202K | Add +2.2% |
| VGSH Vanguard Short-Term Treasury | 0.08% | 3,410 | $200K | Reduce -47.1% |
| BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA HALIFAX | 0.07% | 3,675 | $174K | New |
| INSM Insmed Inc. | 0.07% | 2,271 | $173K | Reduce -11.3% |
| TRP TC Energy Corp. | 0.07% | 3,659 | $173K | Add +5.6% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.07% | 305 | $171K | No change |
| GOOGL Alphabet Inc. Class A | 0.07% | 1,080 | $167K | No change |
| TU Telus Corp. | 0.06% | 10,784 | $155K | Add +8.0% |
| CCL Carnival Corp. | 0.06% | 7,887 | $154K | Reduce -8.3% |
| BIP Brookfield Infrastructure Pa | 0.06% | 4,821 | $143K | Add +5.9% |
| COST Costco Wholesale Corp. | 0.06% | 150 | $142K | No change |
| AXP American Express Co. | 0.05% | 470 | $126K | No change |
| UAL United Airlines Holdings Inc. | 0.05% | 1,692 | $117K | Reduce -10.2% |
| ALGN Align Technology Inc. | 0.05% | 735 | $117K | New |
| CP Canadian Pacific Kansas City | 0.05% | 1,660 | $117K | Reduce -97.6% |
| HSBC HSBC Holdings PLC-Spons ADR filed as HSBC HLDGS PLC | 0.05% | 2,022 | $116K | Reduce -4.3% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.04% | 180 | $96K | No change |
| CRM Salesforce Inc. | 0.04% | 347 | $93K | No change |
| ING ING Groep N.V.-Sponsored ADR | 0.04% | 4,330 | $85K | Add +8.8% |
| FCX Freeport-McMoran Inc. | 0.03% | 1,894 | $72K | Reduce -12.2% |
| CNI Canadian Natl Railway Co. | 0.03% | 684 | $67K | No change |
| CSCO Cisco Systems Inc. | 0.03% | 1,067 | $66K | Add +2.6% |
| C Citigroup Inc. | 0.03% | 845 | $60K | No change |
| BEP Brookfield Renewable Partner | 0.02% | 2,521 | $56K | Add +7.7% |
| MA Mastercard Inc. Class A | 0.02% | 100 | $55K | No change |
| JNJ Johnson & Johnson | 0.02% | 315 | $52K | No change |
| BP BP PLC-Spons ADR | 0.02% | 1,350 | $46K | Add +8.9% |
| META Meta Platforms Inc. Class A | 0.02% | 79 | $46K | Add +102.6% |
| AFL Aflac Inc. | 0.02% | 400 | $44K | New |
| JEF Jefferies Financial Group Inc. | 0.02% | 705 | $38K | Add +193.8% |
| EOG EOG Resources Inc. | 0.02% | 285 | $37K | No change |
| IGIB iShares 5-10Y Inv Grade Corp. | 0.01% | 620 | $33K | No change |
| ABT Abbott Laboratories | 0.01% | 241 | $32K | New |
| BMY Bristol-Myers Squibb Co. | 0.01% | 520 | $32K | Add +52.9% |
| AGG iShares Core U.S. Aggregate | 0.01% | 315 | $31K | No change |
| PEP Pepsico Inc. | 0.01% | 202 | $30K | No change |
| BCE Bce Inc. | 0.01% | 1,318 | $30K | Add +15.8% |
| AMGN Amgen Inc. | 0.01% | 90 | $28K | No change |
| ABBV Abbvie Inc. | 0.01% | 131 | $27K | No change |
| SU Suncor Energy Inc. | 0.01% | 661 | $26K | No change |
| PG The Procter & Gamble Co. | 0.01% | 150 | $26K | No change |
| UNP Union Pacific Corp. | 0.01% | 106 | $25K | Add +6.0% |
| KO The Coca-Cola Co. | 0.01% | 303 | $22K | No change |
| HES Hess Corp. | 0.01% | 135 | $22K | No change |
| MDT Medtronic PLC | 0.01% | 235 | $21K | No change |
| GIB Cgi Inc. | 0.01% | 205 | $20K | No change |
| FLUT Flutter Entertainment PLC-Di | 0.01% | 91 | $20K | No change |
| NTR Nutrien Ltd. | 0.01% | 390 | $19K | No change |
| IGSB iShares 1-5Y Inv Grade Corp. | 0.01% | 320 | $17K | No change |
| BHC Bausch Health Cos Inc. | 0.01% | 2,419 | $16K | No change |
| HON Honeywell International Inc. | 0.01% | 74 | $16K | New |
| F Ford Motor Co. filed as FORD MTR CO | 0.01% | 1,535 | $15K | No change |
| NEM Newmont Corp. | 0.01% | 314 | $15K | No change |
Portfolio Sells Q4 2024 → Q1 2025
| CP Canadian Pacific Kansas City | Reduce -97.6% | 0.05% | −1.96 |
| GOOG Alphabet Inc. Class C | Reduce -1.5% | 7.08% | −1.42 |
| AAPL Apple Inc. | Reduce -1.2% | 10.46% | −1.12 |
| NVDA Nvidia Corp. | Reduce -1.8% | 4.24% | −0.95 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -24.7% | 1.60% | −0.85 |
| AMZN Amazon.com Inc. | Reduce -1.1% | 6.25% | −0.82 |
| MSFT Microsoft Corp. | Reduce -1.1% | 6.69% | −0.68 |
| IWM iShares Russell 2000 ETF | Reduce -1.7% | 3.27% | −0.30 |
| NVO Novo-Nordisk A/S-Spons ADR | Reduce -1.8% | 1.06% | −0.24 |
| BAM Brookfield Asset Mgmt-A | Reduce -1.5% | 1.68% | −0.17 |
| FSV Firstservice Corp. | Reduce -1.7% | 1.50% | −0.12 |
| CSX CSX Corp. | Reduce -0.6% | 1.45% | −0.10 |
| HD Home Depot Inc. | Reduce -1.5% | 2.24% | −0.10 |
| GIL Gildan Activewear Inc. | Reduce -1.6% | 1.49% | −0.07 |
| VGSH Vanguard Short-Term Treasury | Reduce -47.1% | 0.08% | −0.07 |
| SLF Sun Life Financial Inc. | Reduce -1.4% | 2.56% | −0.05 |
| ASML ASML Holding NV-NY Reg SHS | Reduce -1.6% | 0.90% | −0.03 |
| UAL United Airlines Holdings Inc. | Reduce -10.2% | 0.05% | −0.03 |
| CCL Carnival Corp. | Reduce -8.3% | 0.06% | −0.02 |
| RYAAY Ryanair Holdings PLC-SP ADR | Reduce -1.5% | 1.24% | −0.02 |
| WMT Walmart Inc. | Reduce -0.9% | 1.65% | −0.01 |
| BAC Bank of America Corp. | Reduce -4.4% | 0.14% | −0.01 |
| FCX Freeport-McMoran Inc. | Reduce -12.2% | 0.03% | −0.00 |
| ADI Analog Devices Inc. | Sold out | 0.00% | −0.00 |
| INSM Insmed Inc. | Reduce -11.3% | 0.07% | +0.00 |
| HSBC HSBC Holdings PLC-Spons ADR | Reduce -4.3% | 0.05% | +0.01 |
| NFLX Netflix Inc. | Reduce -2.1% | 0.21% | +0.01 |
| UL Unilever PLC | Reduce -1.3% | 1.28% | +0.08 |
| NGG National Grid PLC-SP ADR | Reduce -1.6% | 0.84% | +0.09 |
| LLY Eli Lilly & Co. | Reduce -1.7% | 1.45% | +0.11 |
| UNH Unitedhealth Group Inc. | Reduce -1.9% | 2.50% | +0.11 |
| LIN Linde PLC | Reduce -1.5% | 1.23% | +0.14 |
| TRI Thomson Reuters Corp. | Reduce -1.7% | 1.87% | +0.15 |
| ENB Enbridge Inc. | Reduce -1.3% | 3.66% | +0.21 |
| SHEL Shell PLC-ADR | Reduce -1.8% | 1.39% | +0.22 |
| VLO Valero Energy Corp. | Reduce -1.2% | 2.66% | +0.24 |
| SONY Sony Group Corp. - SP ADR | Reduce -1.6% | 1.63% | +0.29 |
| JPM JPMorgan Chase & Co. | Reduce -0.7% | 6.81% | +0.31 |
| WCN Waste Connections Inc. | Reduce -1.5% | 2.88% | +0.38 |
| V Visa Inc. Class A | Reduce -1.5% | 3.87% | +0.43 |
| AEM Agnico Eagle Mines Ltd. | Reduce -1.4% | 3.68% | +1.07 |
Portfolio Buys Q4 2024 → Q1 2025
| SHOP Shopify Inc. Class A | Add +5951.3% | 1.83% | +1.80 |
| CCJ Cameco Corp. | Add +129352.9% | 1.56% | +1.56 |
| SAP Sap SE-Sponsored ADR | Add +5023.1% | 1.17% | +1.15 |
| BMO Bank of Montreal | New | 0.25% | +0.25 |
| IEF iShares 7-10 Year Treasury B | New | 0.09% | +0.09 |
| IEI iShares 3-7 Year Treasury Bo | New | 0.08% | +0.08 |
| BNS Bank of Nova Scotia | New | 0.07% | +0.07 |
| ALGN Align Technology Inc. | New | 0.05% | +0.05 |
| TD Toronto-Dominion Bank | Add +0.9% | 0.22% | +0.03 |
| T AT&T Inc. | Add +2.2% | 0.08% | +0.02 |
| AFL Aflac Inc. | New | 0.02% | +0.02 |
| FTS Fortis Inc. | Add +5.7% | 0.10% | +0.02 |
| PBA Pembina Pipeline Corp. | Add +6.8% | 0.09% | +0.01 |
| ABT Abbott Laboratories | New | 0.01% | +0.01 |
| ING ING Groep N.V.-Sponsored ADR | Add +8.8% | 0.04% | +0.01 |
| META Meta Platforms Inc. Class A | Add +102.6% | 0.02% | +0.01 |
| TU Telus Corp. | Add +8.0% | 0.06% | +0.01 |
| MFC Manulife Financial Corp. | Add +5.6% | 0.09% | +0.01 |
| JEF Jefferies Financial Group Inc. | Add +193.8% | 0.02% | +0.01 |
| TRP TC Energy Corp. | Add +5.6% | 0.07% | +0.01 |
| HON Honeywell International Inc. | New | 0.01% | +0.01 |
| AA Alcoa Corp. | New | 0.01% | +0.01 |
| BMY Bristol-Myers Squibb Co. | Add +52.9% | 0.01% | +0.01 |
| BP BP PLC-Spons ADR | Add +8.9% | 0.02% | +0.00 |
| SOBO South Bow Corp. | Add +420.3% | 0.00% | +0.00 |
| CSCO Cisco Systems Inc. | Add +2.6% | 0.03% | +0.00 |
| B Barrick Gold Corp. | New | 0.00% | +0.00 |
| BCE Bce Inc. | Add +15.8% | 0.01% | +0.00 |
| BEP Brookfield Renewable Partner | Add +7.7% | 0.02% | +0.00 |
| BIP Brookfield Infrastructure Pa | Add +5.9% | 0.06% | +0.00 |
| UNP Union Pacific Corp. | Add +6.0% | 0.01% | +0.00 |
| AZN Astrazeneca PLC-Spons ADR | New | 0.00% | +0.00 |
| ICE Intercontinental Exchange Inc. | New | 0.00% | +0.00 |
| RTX RTX Corp. | New | 0.00% | +0.00 |
| DIS The Walt Disney Co. | New | 0.00% | +0.00 |
| OTIS Otis Worldwide Corp. | New | 0.00% | +0.00 |
| ROP Roper Technologies Inc. | New | 0.00% | +0.00 |
| TJX TJX Companies Inc. | New | 0.00% | +0.00 |
| TEL Te Connectivity PLC | New | 0.00% | +0.00 |
| AMT American Tower Corp. | New | 0.00% | +0.00 |
| COP Conocophillips | New | 0.00% | +0.00 |
| FIS Fidelity National Info Serv | New | 0.00% | +0.00 |
| IQV Iqvia Holdings Inc. | New | 0.00% | +0.00 |
| MNST Monster Beverage Corp. | New | 0.00% | +0.00 |
| NEE Nextera Energy Inc. | New | 0.00% | +0.00 |
| SPGI S&P Global Inc. | New | 0.00% | +0.00 |
| TMO Thermo Fisher Scientific Inc. | New | 0.00% | +0.00 |
| WDAY Workday Inc. Class A | New | 0.00% | +0.00 |
| MDLZ Mondelez International Inc. Class A | New | 0.00% | +0.00 |
| USB US Bancorp | New | 0.00% | +0.00 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 113 | $326.5M | GOOG, JPM, AAPL, NVDA, AMZN |
| Q1 2026 | 113 | $326.5M | GOOG, JPM, AAPL, NVDA, AMZN |
| Q4 2025 | 114 | $326.9M | GOOG, AAPL, JPM, MSFT, NVDA |
| Q3 2025 | 111 | $319.8M | GOOG, AAPL, JPM, MSFT, AEM |
| Q1 2025 | 164 | $239.4M | AAPL, GOOG, JPM, MSFT, AMZN |
| Q4 2024 | 134 | $246.7M | AAPL, GOOG, MSFT, AMZN, JPM |
| Q3 2024 | 101 | $243.9M | AAPL, MSFT, GOOG, AMZN, JPM |
| Q2 2024 | 102 | $243.1M | AAPL, GOOG, MSFT, AMZN, AMD |
| Q1 2024 | 106 | $242.6M | AAPL, MSFT, GOOG, AMD, AMZN |