PCJ Focused Opportunities Fund
Quarterly Portfolio Disclosures
As of June 30, 2026
Summary of Investment Portfolio
Category
Long %
Short %
%
of Net
Asset Value
Asset Value
Energy
14.93
-7.09
7.84
Materials (ex. Gold & Precious Metals)
6.29
-4.15
2.14
Gold & Precious Metals
0.00
0.00
0.00
Industrials
30.46
-5.27
25.19
Consumer Discretionary
0.00
-2.41
-2.41
Consumer Staples
8.36
-1.09
7.27
Health Care
14.11
0.00
14.11
Financials
3.08
-1.49
1.59
Information Technology
2.01
0.00
2.01
Communication Services
0.00
-1.56
-1.56
Utilities
8.51
0.00
8.51
Real Estate
4.08
-1.48
2.60
Index Funds
0.00
-4.93
-4.93
Cash
0.00
0.00
0.00
Bonds
0.00
0.00
0.00
Top 25 Holdings - Long
% of NetAsset Value
Extendicare Inc
8.48
Black Diamond Group
7.38
CRH PLC
6.29
Premium Brands Holdings Corporation
6.21
Brookfield Infrastructure Partners LP
5.79
Chartwell Retirement Residences
5.62
Advantage Energy Ltd
4.50
CAE Inc.
4.27
Primaris Reit
4.08
Brookfield Business Corp
3.35
Alaris Equity Partners Income Trust
3.08
Knight-Swift Transportation Holdings Inc
3.08
Finning International Inc.
2.79
Heartland Express Inc
2.78
Transalta Corp.
2.73
Keyera Corp.
2.55
Spartan Delta Corp
2.53
Aecon Group Inc.
2.44
ADENTRA Inc
2.32
Agt Food & Ingredients Inc
2.15
Greenfire Resources Ltd
1.95
Enerflex Ltd.
1.83
Strathcona Resources Ltd
1.57
Kraken Robotics Inc
1.09
Element Fleet Management Corp
1.05
Top 25 Holdings - Short
% of NetAsset Value
Werner Enterprises Inc
-0.27
High Liner Foods
-0.41
Fiera Capital Corp.
-0.41
Tesla Inc
-0.41
Precision Drilling Corp.
-0.41
Cogeco Communications Inc
-0.44
Rxo Inc
-0.44
Aritzia Inc
-0.46
Copart Inc
-0.47
Metro Inc.
-0.48
Mastercard Inc
-0.50
Riocan REIT Units
-0.56
Visa Inc-Class A
-0.59
AtkinsRealis Group Inc
-0.73
Advanced Drainage Systems In
-0.79
Richelieu Hardware Ltd.
-0.90
Ishares Trust Dow Jones US Real Estate
-0.92
Quebecor Inc. Class B
-1.13
Martin Marietta Materials
-1.49
Canadian Tire Corp. Ltd. Class A
-1.54
Stantec Inc.
-1.68
iShares Russell 2000 ETF
-2.20
Vulcan Materials Co
-2.66
State Street SPDR S&P 500 ETF
-2.73
iShares S&P/TSX Capped Energy Index ETF
-6.68
For further information, please contact Connor, Clark & Lunn Funds Inc. Toll Free at 1-888-824-3120.
The Summary of Investment Portfolio may change due to ongoing portfolio transactions of the Fund. Updates are available quarterly. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.
CC&L Funds Inc.
September 19, 2025