JCIC Asset Management Inc.

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 22, 2026), JCIC Asset Management Inc. reported 114 stock positions worth $326.9 million. Its top holding was Alphabet Class C (GOOG) at 8.9% of the portfolio, followed by Apple (AAPL, 7.2%) and JPMorgan Chase (JPM, 6.2%). Compared with Q3 2025, it opened 4 new positions, sold out of 2, added to 13 and reduced 52. The biggest buy was a new position in Barrick Mining (B) and the biggest sale an exit from Agnico Eagle Mines (AEM).

Most Recent 13F
Q2 2026
Location
Toronto, A6
CIK
0001492040
Portfolio Value
$326.9M (Q4 2025)
SEC Filing
0001193125-26-019007 ↗ filed Jan 22, 2026

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 Q1 2025 Q3 2025: $319.8M Q3 2025 Q4 2025: $326.9M $326.9M Q4 2025 Q1 2026: $326.5M Q1 2026 Q2 2026: $326.5M Q2 2026

Holdings 114 stocks · $326.9M
GOOG Alphabet Inc. Class C 8.87% 92,415 $29.0M Reduce -1.6%
AAPL Apple Inc. 7.19% 86,409 $23.5M Reduce -1.2%
JPM JPMorgan Chase & Co. 6.25% 63,386 $20.4M Reduce -1.2%
MSFT Microsoft Corp. 5.59% 37,787 $18.3M Reduce -1.1%
NVDA Nvidia Corp. 5.01% 87,796 $16.4M Reduce -1.6%
AMZN Amazon.com Inc. 4.90% 69,392 $16.0M Reduce -1.4%
RY Royal Bank of Canada 4.27% 81,911 $14.0M Reduce -1.9%
SHOP Shopify Inc. Class A 2.86% 57,968 $9.3M Reduce -1.1%
ENB Enbridge Inc. 2.85% 194,798 $9.3M Reduce -1.1%
B Barrick Mining Corp. 2.81% 210,725 $9.2M New
V Visa Inc. Class A 2.58% 24,011 $8.4M Reduce -1.6%
TD Toronto-Dominion Bank 2.46% 85,248 $8.0M Add +891.5%
BMO Bank of Montreal filed as BANK MONTREAL QUE 2.40% 60,290 $7.8M Reduce -1.1%
MFC Manulife Financial Corp. 2.36% 212,000 $7.7M Reduce -1.5%
VLO Valero Energy Corp. 2.32% 46,637 $7.6M Reduce -1.5%
GIL Gildan Activewear Inc. 2.26% 118,359 $7.4M Reduce -1.2%
TSM Taiwan Semiconductor-SP ADR 2.08% 22,350 $6.8M Reduce -2.0%
WCN Waste Connections Inc. 1.83% 34,060 $6.0M Reduce -2.7%
META Meta Platforms Inc. Class A 1.65% 8,177 $5.4M Reduce -1.6%
UBER Uber Technologies Inc. 1.57% 62,708 $5.1M Reduce -1.1%
RYAAY Ryanair Holdings PLC-SP ADR 1.51% 68,308 $4.9M Reduce -1.1%
HD Home Depot Inc. 1.47% 13,987 $4.8M Reduce -1.7%
CVE Cenovus Energy Inc. 1.47% 284,065 $4.8M Reduce -0.7%
RCI Rogers Communications Inc. Class B 1.42% 122,525 $4.6M Reduce -0.8%
WMT Walmart Inc. 1.39% 40,863 $4.6M Reduce -0.9%
GIB Cgi Inc. 1.37% 48,525 $4.5M Reduce -2.1%
LLY Eli Lilly & Co. 1.30% 3,962 $4.3M Reduce -1.8%
BAM Brookfield Asset Mgmt-A 1.27% 79,245 $4.2M Reduce -1.4%
CSX CSX Corp. 1.19% 107,304 $3.9M Reduce -0.7%
SONY Sony Group Corp. - SP ADR 1.17% 149,195 $3.8M Reduce -1.7%
SAP Sap SE-Sponsored ADR 1.15% 15,465 $3.8M Reduce -2.5%
CCJ Cameco Corp. 1.13% 40,310 $3.7M New
GE General Electric filed as GE AEROSPACE 1.10% 11,692 $3.6M Reduce -0.6%
CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BANK OF CO 1.07% 38,422 $3.5M Reduce -1.9%
TRI Thomson Reuters Corp. 1.02% 25,268 $3.3M Reduce -2.3%
SHEL Shell PLC-ADR 0.99% 43,951 $3.2M Reduce -1.3%
CNQ Canadian Natural Resources 0.98% 94,837 $3.2M Reduce -1.6%
BBVA Banco Bilbao Vizcaya-SP ADR 0.94% 131,910 $3.1M New
MUFG Mitsubishi Ufj Finl-Spon ADR 0.87% 178,640 $2.8M New
DE Deere & Co. 0.76% 5,357 $2.5M Reduce -0.7%
NGG National Grid PLC-SP ADR 0.72% 30,590 $2.4M Reduce -1.7%
NFLX Netflix Inc. 0.66% 22,975 $2.2M Reduce -1.1%
NVO Novo-Nordisk A/S-Spons ADR 0.55% 35,014 $1.8M Reduce -3.0%
OVV Ovintiv Inc. 0.51% 42,860 $1.7M No change
INSM Insmed Inc. 0.11% 2,064 $359K Reduce -1.0%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.11% 6,353 $349K Reduce -0.9%
GOOGL Alphabet Inc. Class A 0.10% 1,045 $327K No change
BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA HALIFAX 0.10% 4,317 $318K Add +9.2%
FTS Fortis Inc. 0.10% 5,990 $311K Add +5.0%
PBA Pembina Pipeline Corp. 0.07% 6,207 $236K Add +8.4%
TRP TC Energy Corp. 0.06% 3,746 $206K Add +6.2%
IEF iShares 7-10 Year Treasury B 0.06% 2,145 $206K No change
IEI iShares 3-7 Year Treasury Bo 0.06% 1,715 $205K No change
VCSH Vanguard S/T Corp. Bond ETF 0.06% 2,560 $204K No change
VGSH Vanguard Short-Term Treasury 0.06% 3,410 $200K No change
MSCI MSCI Inc. 0.06% 347 $199K No change
HSBC HSBC Holdings PLC-Spons ADR filed as HSBC HLDGS PLC 0.06% 2,527 $199K Add +7.9%
BIP Brookfield Infrastructure Pa 0.06% 5,589 $194K Add +6.6%
UAL United Airlines Holdings Inc. 0.05% 1,557 $174K Reduce -0.9%
CCL Carnival Corp. 0.05% 5,557 $170K Reduce -1.0%
TU Telus Corp. 0.05% 12,670 $167K Add +8.1%
AXP American Express Co. 0.05% 410 $152K No change
ING ING Groep N.V.-Sponsored ADR 0.05% 5,315 $149K Add +9.9%
COST Costco Wholesale Corp. 0.04% 150 $129K No change
ALGN Align Technology Inc. 0.03% 697 $109K Reduce -0.7%
C Citigroup Inc. 0.03% 845 $99K No change
BRK.B Berkshire Hathaway Inc. Class B 0.03% 180 $90K No change
CRM Salesforce Inc. 0.03% 340 $90K No change
FCX Freeport-McMoran Inc. 0.03% 1,699 $86K Reduce -1.4%
CSCO Cisco Systems Inc. 0.02% 1,040 $80K No change
BEP Brookfield Renewable Partner 0.02% 2,959 $80K Add +5.9%
QQQ Invesco QQQ Trust Series 1 0.02% 120 $74K No change
ASML ASML Holding NV-NY Reg SHS 0.02% 65 $70K No change
EMA Emera Inc. 0.02% 1,385 $68K Reduce -3.5%
JNJ Johnson & Johnson 0.02% 315 $65K No change
T AT&T Inc. 0.02% 2,609 $65K Add +8.3%
BP BP PLC-Spons ADR 0.02% 1,715 $60K Add +13.6%
MA Mastercard Inc. Class A 0.02% 100 $57K No change
AFL Aflac Inc. 0.01% 400 $44K No change
BABA Alibaba Group Holding-SP ADR 0.01% 298 $44K No change
IGIB iShares 5-10Y Inv Grade Corp. 0.01% 620 $33K No change
AVGO Broadcom Inc. 0.01% 95 $33K No change
AGG iShares Core U.S. Aggregate 0.01% 315 $31K No change
EOG EOG Resources Inc. 0.01% 285 $30K No change
BCE Bce Inc. 0.01% 1,208 $29K Reduce -8.3%
PEP Pepsico Inc. 0.01% 195 $28K No change
CNI Canadian Natl Railway Co. 0.01% 240 $24K No change
AA Alcoa Corp. 0.01% 440 $23K No change
UNP Union Pacific Corp. 0.01% 100 $23K No change
MDT Medtronic PLC 0.01% 235 $23K No change
PG The Procter & Gamble Co. 0.01% 150 $21K No change
CVX Chevron Corp. 0.01% 137 $21K No change
VIAV Viavi Solutions Inc. 0.01% 1,137 $20K No change
F Ford Motor Co. filed as FORD MTR CO 0.01% 1,535 $20K No change
PANW Palo Alto Networks Inc. 0.01% 103 $19K No change
ORCL Oracle Corp. 0.01% 95 $19K Add +251.8%
BMY Bristol-Myers Squibb Co. 0.01% 340 $18K No change
ARM Arm Holdings PLC-ADR 0.01% 157 $17K No change
IGSB iShares 1-5Y Inv Grade Corp. 0.01% 320 $17K No change
JEF Jefferies Financial Group Inc. 0.00% 240 $15K No change
NOW ServiceNow Inc. 0.00% 95 $15K No change
MU Micron Technology Inc. 0.00% 50 $14K No change
ISRG Intuitive Surgical Inc. 0.00% 25 $14K No change
SPY SS SPDR S&P 500 ETF Trust-US 0.00% 20 $14K No change
LQD Ishr Ibx Usd Invgd CB ETF-Ui 0.00% 85 $9K No change
HCA HCA Healthcare Inc. 0.00% 20 $9K No change
TECK Teck Resources Ltd.-CLS B 0.00% 190 $9K No change
UL Unilever PLC-Sponsored ADR 0.00% 106 $7K Reduce -99.8%
RBA RB Global Inc. 0.00% 60 $6K Reduce -99.8%
SLF Sun Life Financial Inc. 0.00% 95 $6K Reduce -29.6%
SOBO South Bow Corp. 0.00% 205 $6K Reduce -29.3%
LIN Linde PLC 0.00% 13 $6K Reduce -99.8%
BIPC Brookfield Infrastructure-A 0.00% 121 $5K No change
MICC The Magnum Ice Cream Co. NV 0.00% 24 $383 Reduce -99.8%

Portfolio Sells Q3 2025 → Q4 2025
AEM Agnico Eagle Mines Ltd. Sold out 0.00% −5.22
RBA RB Global Inc. Reduce -99.8% 0.00% −1.13
UL Unilever PLC-Sponsored ADR Reduce -99.8% 0.00% −0.95
LIN Linde PLC Reduce -99.8% 0.00% −0.93
MSFT Microsoft Corp. Reduce -1.1% 5.59% −0.60
UBER Uber Technologies Inc. Reduce -1.1% 1.57% −0.38
HD Home Depot Inc. Reduce -1.7% 1.47% −0.33
META Meta Platforms Inc. Class A Reduce -1.6% 1.65% −0.26
ENB Enbridge Inc. Reduce -1.1% 2.85% −0.25
TRI Thomson Reuters Corp. Reduce -2.3% 1.02% −0.24
NFLX Netflix Inc. Reduce -1.1% 0.66% −0.21
SONY Sony Group Corp. - SP ADR Reduce -1.7% 1.17% −0.20
NVDA Nvidia Corp. Reduce -1.6% 5.01% −0.20
VLO Valero Energy Corp. Reduce -1.5% 2.32% −0.20
SAP Sap SE-Sponsored ADR Reduce -2.5% 1.15% −0.18
BAM Brookfield Asset Mgmt-A Reduce -1.4% 1.27% −0.16
WCN Waste Connections Inc. Reduce -2.7% 1.83% −0.10
BMO Bank of Montreal Reduce -1.1% 2.40% −0.09
NVO Novo-Nordisk A/S-Spons ADR Reduce -3.0% 0.55% −0.08
JPM JPMorgan Chase & Co. Reduce -1.2% 6.25% −0.08
MICC The Magnum Ice Cream Co. NV Reduce -99.8% 0.00% −0.05
CVE Cenovus Energy Inc. Reduce -0.7% 1.47% −0.05
V Visa Inc. Class A Reduce -1.6% 2.58% −0.03
CSX CSX Corp. Reduce -0.7% 1.19% −0.01
FLUT Flutter Entertainment PLC-Di Sold out 0.00% −0.01
GIB Cgi Inc. Reduce -2.1% 1.37% −0.01
SHEL Shell PLC-ADR Reduce -1.3% 0.99% −0.01
DE Deere & Co. Reduce -0.7% 0.76% −0.01
GE General Electric Reduce -0.6% 1.10% −0.00
BCE Bce Inc. Reduce -8.3% 0.01% −0.00
SOBO South Bow Corp. Reduce -29.3% 0.00% −0.00
SLF Sun Life Financial Inc. Reduce -29.6% 0.00% −0.00
EMA Emera Inc. Reduce -3.5% 0.02% −0.00
CCL Carnival Corp. Reduce -1.0% 0.05% +0.00
BAC Bank of America Corp. Reduce -0.9% 0.11% +0.00
FCX Freeport-McMoran Inc. Reduce -1.4% 0.03% +0.01
ALGN Align Technology Inc. Reduce -0.7% 0.03% +0.01
UAL United Airlines Holdings Inc. Reduce -0.9% 0.05% +0.01
INSM Insmed Inc. Reduce -1.0% 0.11% +0.02
NGG National Grid PLC-SP ADR Reduce -1.7% 0.72% +0.02
CNQ Canadian Natural Resources Reduce -1.6% 0.98% +0.02
WMT Walmart Inc. Reduce -0.9% 1.39% +0.06
AMZN Amazon.com Inc. Reduce -1.4% 4.90% +0.07
RCI Rogers Communications Inc. Class B Reduce -0.8% 1.42% +0.09
TSM Taiwan Semiconductor-SP ADR Reduce -2.0% 2.08% +0.09
CM Can Imperial BK of Commerce Reduce -1.9% 1.07% +0.09
GIL Gildan Activewear Inc. Reduce -1.2% 2.26% +0.10
SHOP Shopify Inc. Class A Reduce -1.1% 2.86% +0.13
RYAAY Ryanair Holdings PLC-SP ADR Reduce -1.1% 1.51% +0.21
AAPL Apple Inc. Reduce -1.2% 7.19% +0.22

Portfolio Buys Q3 2025 → Q4 2025
B Barrick Mining Corp. New 2.81% +2.81
TD Toronto-Dominion Bank Add +891.5% 2.46% +2.24
CCJ Cameco Corp. New 1.13% +1.13
BBVA Banco Bilbao Vizcaya-SP ADR New 0.94% +0.94
MUFG Mitsubishi Ufj Finl-Spon ADR New 0.87% +0.87
BNS Bank of Nova Scotia Add +9.2% 0.10% +0.02
HSBC HSBC Holdings PLC-Spons ADR Add +7.9% 0.06% +0.01
ING ING Groep N.V.-Sponsored ADR Add +9.9% 0.05% +0.01
BIP Brookfield Infrastructure Pa Add +6.6% 0.06% +0.01
FTS Fortis Inc. Add +5.0% 0.10% +0.00
ORCL Oracle Corp. Add +251.8% 0.01% +0.00
TRP TC Energy Corp. Add +6.2% 0.06% +0.00
BP BP PLC-Spons ADR Add +13.6% 0.02% +0.00
BEP Brookfield Renewable Partner Add +5.9% 0.02% +0.00
PBA Pembina Pipeline Corp. Add +8.4% 0.07% 0.00
T AT&T Inc. Add +8.3% 0.02% −0.00
TU Telus Corp. Add +8.1% 0.05% −0.01

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