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

0$100.0M$200.0M$300.0M$400.0M Q1 2024: $242.6M Q1 2024 Q2 2024: $243.1M Q2 2024 Q3 2024: $243.9M Q3 2024 Q4 2024: $246.7M Q4 2024 Q1 2025: $239.4M $239.4M Q1 2025 Q3 2025: $319.8M Q3 2025 Q4 2025: $326.9M Q4 2025 Q1 2026: $326.5M Q1 2026 Q2 2026: $326.5M Q2 2026

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
AA Alcoa Corp. 0.01% 440 $13K New
PANW Palo Alto Networks Inc. 0.01% 76 $13K No change
WBD Warner Bros Discovery Inc. 0.01% 1,207 $13K No change
VIAV Viavi Solutions Inc. 0.01% 1,137 $13K No change
ARM Arm Holdings PLC-ADR 0.01% 116 $12K No change
ISRG Intuitive Surgical Inc. 0.01% 25 $12K No change
NOW ServiceNow Inc. 0.00% 14 $11K No change
MGA Magna International Inc. 0.00% 325 $11K No change
PAYX Paychex Inc. 0.00% 60 $9K No change
LQD Ishr Ibx Usd Invgd CB ETF-Ui 0.00% 85 $9K No change
SOBO South Bow Corp. 0.00% 359 $9K Add +420.3%
CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BK COMM 0.00% 132 $7K Add +17.9%
HCA HCA Healthcare Inc. 0.00% 20 $7K No change
WPM Wheaton Precious Metals Corp. 0.00% 82 $6K No change
BN Brookfield Corp. 0.00% 113 $6K No change
B Barrick Gold Corp. 0.00% 267 $5K New
BIPC Brookfield Infrastructure-A 0.00% 121 $4K No change
MU Micron Technology Inc. 0.00% 50 $4K No change
ORCL Oracle Corp. 0.00% 27 $4K No change
TECK Teck Resources Ltd.-CLS B 0.00% 99 $4K No change
QSR Restaurant Brands Intern 0.00% 52 $3K No change
FISV Fiserv Inc. 0.00% 8 $2K No change
AZN Astrazeneca PLC-Spons ADR 0.00% 24 $2K New
ICE Intercontinental Exchange Inc. 0.00% 9 $2K New
XOM Exxon Mobil Corp. 0.00% 13 $2K No change
RTX RTX Corp. 0.00% 11 $1K New
QCOM Qualcomm Inc. 0.00% 9 $1K No change
VTS Vitesse Energy Inc. 0.00% 54 $1K No change
TEL Te Connectivity PLC 0.00% 9 $1K New
BX Blackstone Inc. 0.00% 9 $1K No change
MCD McDonald's Corp. 0.00% 4 $1K No change
OTIS Otis Worldwide Corp. 0.00% 12 $1K New
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.00% 12 $1K New
ROP Roper Technologies Inc. 0.00% 2 $1K New
ADBE Adobe Inc. 0.00% 3 $1K No change
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.00% 9 $1K New
CME Cme Group Inc. 0.00% 4 $1K No change
IQV Iqvia Holdings Inc. 0.00% 6 $1K New
MNST Monster Beverage Corp. 0.00% 18 $1K New
DHR Danaher Corp. 0.00% 5 $1K No change
SPGI S&P Global Inc. 0.00% 2 $1K New
TFII Tfi International Inc. 0.00% 13 $1K No change
TMO Thermo Fisher Scientific Inc. 0.00% 2 $995 New
NEE Nextera Energy Inc. 0.00% 14 $992 New
FIS Fidelity National Info Serv 0.00% 13 $971 New
MLM Martin Marietta Materials 0.00% 2 $956 No change
BLK BlackRock Inc. 0.00% 1 $946 No change
COP Conocophillips 0.00% 9 $945 New
WDAY Workday Inc. Class A 0.00% 4 $934 New
PLD Prologis Inc. 0.00% 8 $894 No change
AMT American Tower Corp. 0.00% 4 $870 New
ELV Elevance Health Inc. 0.00% 2 $870 No change
CVX Chevron Corp. 0.00% 5 $836 No change
USB US Bancorp 0.00% 19 $802 New
TMUS T-Mobile US Inc. 0.00% 3 $800 No change
MDLZ Mondelez International Inc. Class A 0.00% 11 $746 New
SYK Stryker Corp. 0.00% 2 $745 No change
ADP Automatic Data Processing 0.00% 2 $611 No change
VICI Vici Properties Inc. filed as VICI PPTYS INC 0.00% 18 $587 No change
PNC PNC Financial Services Group 0.00% 3 $527 No change
ZTS Zoetis Inc. 0.00% 3 $494 No change
LNG Cheniere Energy Inc. 0.00% 2 $463 New
WEC WEC Energy Group Inc. 0.00% 4 $436 New
BNT Brookfield Wealth Solutions 0.00% 5 $261 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

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 113$326.5MGOOG, JPM, AAPL, NVDA, AMZN
Q1 2026 113$326.5MGOOG, JPM, AAPL, NVDA, AMZN
Q4 2025 114$326.9MGOOG, AAPL, JPM, MSFT, NVDA
Q3 2025 111$319.8MGOOG, AAPL, JPM, MSFT, AEM
Q1 2025 164$239.4MAAPL, GOOG, JPM, MSFT, AMZN
Q4 2024 134$246.7MAAPL, GOOG, MSFT, AMZN, JPM
Q3 2024 101$243.9MAAPL, MSFT, GOOG, AMZN, JPM
Q2 2024 102$243.1MAAPL, GOOG, MSFT, AMZN, AMD
Q1 2024 106$242.6MAAPL, MSFT, GOOG, AMD, AMZN