Portfolio Update
Canadian General Investments, Limited reported an unaudited net asset value per share of $80.66 as of December 31, 2025, achieving an 18.1% one-year NAV return with dividends reinvested, which lagged the S&P/TSX Composite Index's 31.7% total return. The company's leverage stood at 11.9% of net assets, a decrease from 13.8% at the end of 2024. The common share price return, with dividends reinvested, was 19.9% for the same period, with the share price closing at $47.25 on December 31, 2025. The investment portfolio was weighted towards Information Technology (20.5%), Industrials (19.6%), and Materials (16.3%), with top holdings including Celestica Inc. and NVIDIA Corporation.
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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 December 31, 2025 was $80.66, resulting in a one-year NAV return, with dividends reinvested, of 18.1%. This compares with the 31.7% return of the benchmark S&P/TSX Composite Index on a total return basis for the same period.
The Company employs a leveraging strategy, by way of bank borrowing, with the intent to enhance returns to common shareholders. As at December 31, 2025, the leverage represented 11.9% of CGI's net assets, down from 13.8% at the end of 2024.
The closing price for CGI's common shares at December 31, 2025 was $47.25, resulting in an annual share price return, with dividends reinvested, of 19.9%.
The sector weightings of CGI's investment portfolio at market as of December 31, 2025 were as follows:
| Information Technology | 20.5% |
| Industrials | 19.6% |
| Materials | 16.3% |
| Energy | 14.4% |
| Financials | 14.1% |
| Consumer Discretionary | 9.6% |
| Real Estate | 3.4% |
| Communication Services | 1.3% |
| Cash & Cash Equivalents | 0.8% |
The top ten investments which comprised 36.4% of the investment portfolio at market as of December 31, 2025 were as follows:
| Celestica Inc. | 4.7% |
| NVIDIA Corporation | 4.5% |
| Franco-Nevada Corporation | 4.4% |
| Shopify Inc. | 3.7% |
| First Quantum Minerals Ltd. | 3.5% |
| Dollarama Inc. | 3.4% |
| WSP Global Inc. | 3.1% |
| Canadian Pacific Kansas City Limited | 3.1% |
| Royal Bank of Canada | 3.0% |
| Cameco Corporation | 3.0% |
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