Canadian General Investments, Limited (TSX: CGI | LSE: CGI) released an unaudited investment update for the period ending September 30, 2026, reporting a net asset value per share of $86.20 and a year-to-date NAV return of 8.0% with dividends reinvested. The closed-end fund's returns trailed the S&P/TSX Composite Index, which posted a 13.0% total return over the same period. Investors may be watching how the fund's leverage strategy and portfolio positioning evolve given the performance gap relative to its benchmark.

Key Points

  • Canadian General Investments, Limited (TSX: CGI | LSE: CGI) released its unaudited September 30, 2026 investment update
  • Net asset value per share stood at $86.20, with year-to-date and 12-month NAV returns of 8.0% and 8.6%, respectively, with dividends reinvested
  • Common share closing price was $51.87 at September 30, 2026; leverage represented 12.5% of net assets, up from 11.9% at year-end 2025
  • Investors may watch whether leverage levels and sector weightings shift as the fund responds to benchmark performance gaps

NAV and Share Price Performance Against the S&P/TSX Composite

As at September 30, 2026, CGI's unaudited NAV per share was $86.20, generating year-to-date and 12-month NAV returns, with dividends reinvested, of 8.0% and 8.6%, respectively. By comparison, the S&P/TSX Composite Index delivered total returns of 13.0% year-to-date and 20.0% over 12 months — meaningfully ahead of the fund on both measures. The closing common share price of $51.87 produced year-to-date and 12-month share price returns, with dividends reinvested, of 11.7% and 14.2%, respectively, outpacing the NAV return but still below the benchmark's 12-month gain.

CGI's Leverage Strategy and Current Borrowing Levels

The company employs a leveraging strategy through bank borrowing, with the stated intent of enhancing returns for common shareholders. As at September 30, 2026, leverage represented 12.5% of CGI's net assets, rising from 11.9% recorded at both year-end 2025 and September 30, 2025. The release does not provide specific dollar amounts for the borrowing facility. Investors may note that while leverage can amplify gains in rising markets, it also introduces additional risk in periods of market volatility, and the modest increase in leverage occurred during a period of benchmark outperformance.

Portfolio Sector Weightings and Top Ten Holdings at September 30, 2026

Information Technology led CGI's portfolio at 20.9% of market value, followed by Industrials at 20.4% and Materials at 17.1%. Energy and Financials rounded out the top five sectors at 15.5% and 13.6%, respectively. The fund's top ten holdings represented 38.6% of the investment portfolio at market, with Celestica Inc. (5.5%) and NVIDIA Corporation (5.4%) occupying the top two positions, followed by Franco-Nevada Corporation, Canadian Pacific Kansas City Limited, First Quantum Minerals, Royal Bank of Canada, Shopify Inc., Bank of Montreal, Apple Inc., and TFI International Inc.