Portfolio Update
Canadian General Investments, Limited reported an unaudited net asset value per share of $80.73 as of November 30, 2025, with year-to-date and 12-month NAV returns of 18.2% and 13.9% respectively, underperforming the S&P/TSX Composite Index's total returns of 30.0% and 25.7%. The company's leverage stood at 11.9% of net assets, a decrease from previous periods. Common share price returns year-to-date and over 12 months were 15.4% and 14.0% respectively, with a closing share price of $45.50 on November 30, 2025. The investment portfolio was heavily weighted towards Information Technology (25.3%), Industrials (18.2%), and Materials (15.1%), with top holdings including Celestica Inc. (8.3%) and NVIDIA Corporation (5.0%).
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LONDON STOCK EXCHANGE: CGI
Canadian General Investments: Investment Update - Unaudited
TORONTO, CANADA - Canadian General Investments, Limited (CGI) reports on an unaudited basis that its net asset value per share (NAV) at November 30, 2025 was $80.73 resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of 18.2% and 13.9%, respectively. These compare with the 30.0% and 25.7% returns of the benchmark S&P/TSX Composite Index on a total return basis for the same periods.
The Company employs a leveraging strategy, by way of bank borrowing, with the intent to enhance returns to common shareholders. As at November 30, 2025, the leverage represented 11.9% of CGI's net assets, down from 13.8% at the end of 2024 and 13.3% at November 30, 2024.
The closing price for CGI's common shares at November 30, 2025 was $45.50, resulting in year-to-date and 12-month share price returns, with dividends reinvested, of 15.4% and 14.0%, respectively.
The sector weightings of CGI's investment portfolio at market as of November 30, 2025 were as follows:
| Information Technology | 25.3% |
| Industrials | 18.2% |
| Materials | 15.1% |
| Financials | 13.7% |
| Energy | 13.1% |
| Consumer Discretionary | 8.9% |
| Real Estate | 3.5% |
| Cash & Cash Equivalents | 1.5% |
| Communication Services | 0.7% |
The top ten investments which comprised 39.7% of the investment portfolio at market as of November 30, 2025 were as follows:
| Celestica Inc. | 8.3% |
| NVIDIA Corporation | 5.0% |
| Franco-Nevada Corporation | 4.5% |
| Shopify Inc. | 3.7% |
| Dollarama Inc. | 3.3% |
| Canadian Pacific Kansas City Limited | 3.1% |
| WSP Global Inc. | 3.0% |
| First Quantum Minerals Ltd. | 3.0% |
| Cameco Corporation | 2.9% |
| Mastercard Incorporated | 2.9% |
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