Kotarba's board seat and 20.98% stake give it significant influence. Watch for potential strategic initiatives, such as asset sales, operational changes, or a push for a sale of the company, given JCTC's declining revenue ($41.3M in FY2025 vs $47.1M in FY2024) and small market cap.
Price Chart
Executive Summary
Kotarba Partners Fund I, LP filed an amended Schedule 13D disclosing a 20.98% beneficial ownership stake in Jewett-Cameron Trading Co Ltd (JCTC), acquired via a privately negotiated purchase agreement with The Oregon Community Foundation. The fund purchased 176,006 shares at $1.85/share on September 30, 2026, and holds options to acquire up to 562,528 additional shares by March 31, 2028. Scott Kotarba was appointed to JCTC's board effective August 10, 2026, signaling ongoing activist engagement.
Key Financial Metrics
Key Facts
- Kotarba Partners Fund I, LP beneficially owns 738,534 shares, representing 20.98% of JCTC's outstanding shares.
- 176,006 shares were purchased at $1.85/share on September 30, 2026, for $325,611.10.
- The fund holds an option to purchase up to 562,528 additional shares by March 31, 2028, with pricing at 85% of VWAP (min $1.85, max $4.00/share).
- Scott Kotarba was appointed to JCTC's board effective August 10, 2026.
- The purchase agreement restricts the seller from transferring the remaining shares until the option expires or is exercised.
Financial Impact
Initial purchase of $325,611.10 at $1.85/share; potential additional purchases of up to $2.26 million (at max price) for the remaining option shares.
Risk Factors
- JCTC's revenue declined 12.3% YoY to $41.3M in FY2025, indicating operational headwinds.
- The option to acquire additional shares is exercisable over 18 months, creating uncertainty about the timing and extent of further stake accumulation.
- Kotarba's board seat is in a personal capacity, not as a fund designee, which may limit direct alignment with fund interests.
Investment Themes
Documents Analyzed
This report is based on 3 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| SC 13D/A Filing (Primary) | 0001104659-26-113171 |
| Document: 0001104659-26-113171-index.html | 0001104659-26-113171 |
| Document: 0001104659-26-113171.txt | 0001104659-26-113171 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 23, 2026 4d ago | 8-K | $2.83 $2.76 | ▼ −2.47% | ▼ −3.03% | $2.76 (−2.47%) |
Oct 2, 2026 24d ago | SC 13D/A | $2.97 $2.96 | ▲ +0.17% | ▲ +0.72% | $2.76 (+6.91%) |
Oct 2, 2026 25d ago | Insider Cluster | $2.97 $2.96 | ▼ −0.17% | ▼ −0.72% | $2.76 (−6.91%) |
Oct 2, 2026 25d ago | SC 13D/A | $2.95 $2.97 | ▲ +0.51% | ▼ −0.17% | $2.76 (−6.44%) |
Sep 25, 2026 4w ago | SC 13D/A | $2.95 $2.91 | ▼ −1.36% | ▼ −1.17% | $2.76 (−6.44%) |
Aug 14, 2026 10w ago | Insider Cluster | $3.30 $3.04 | ▼ −7.88% | ▼ −7.20% | $2.76 (−16.36%) |
Aug 10, 2026 11w ago | Insider Cluster | $2.98 $2.92 | ▼ −2.01% | ▼ −2.26% | $2.76 (−7.38%) |
Aug 10, 2026 11w ago | Insider Cluster | $2.98 $2.92 | ▲ +2.01% | ▲ +2.26% | $2.76 (+7.38%) |
Aug 10, 2026 11w ago | 8-K | $2.98 $2.92 | ▼ −2.01% | ▼ −2.26% | $2.76 (−7.38%) |
Jul 14, 2026 15w ago | Press Release | $2.69 $2.79 | ▼ −3.72% | ▼ −4.26% | $2.76 (−2.60%) |
US Market Status
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