Contents
My underlying reason for performing this portfolio review is to get a high level overview of all our investments. When I include retirement accounts for which I do not disclose details, I manage a total of 18; this is an increase from 17 when I completed my June 30 review. Each account has CDN and USD holdings and several investment accounts have exposure to the same companies. Unless I perform these reviews, I can not easily determine what percentage of our total holdings is held in each individual holding.
In addition to managing our investments, I also help a couple of young investors on their journey to financial freedom. I disclose their purchases and sales but do not provide specifics and exclude all their investments in my month end reports.
I last completed such a review in this July 2, 2023 post using the June 30, 2023 closing stock prices. In this Investment Holdings Review I use the December 29, 2023 closing stock prices.
In this Investment Holdings Review, I include the rankings on June 30, 2023, January 31, 2023, June 30, 2022, January 6, 2022, April 11, 2021, and August 14, 2020 for comparison; a blank cell in a worksheet means the holding was not within the top 30.
FX Rates
I hold Canadian and US-listed shares. My base currency is the Canadian dollar, and therefore, I convert my US holdings to Canadian for analysis purposes. The foreign exchange rates at the time of my reviews are:
- December 29, 2023: 1.3208 CDN = $1 USD
- June 30, 2023: 1.3238 CDN = $1 USD
- January 31, 2023: 1.3337 CDN = $1 USD
- June 30, 2022: $1.2873 CDN = $1 USD
- January 6, 2022: $1.2731 CDN = $1 USD
- April 11, 2021: $1.2545 CDN = $1 USD
- August 14, 2020: $1.34 CDN = $1 USD
Weightings
The following are the weightings of our:
top 30 holdings.
- December 29, 2023: ~76%
- June 30, 2023: ~75%
- January 31, 2023: ~79%
- June 30, 2022: ~75%
- January 6, 2022: ~80%
- April 11, 2021: ~77%
- August 14, 2020: ~77%
top 10 holdings.
- December 29, 2023: ~41%
- June 30, 2023: ~39%
- January 31, 2023: ~40%
- June 30, 2022: ~37%
- January 6, 2022: ~43%
- April 11, 2021: ~41%
- August 14, 2020: ~43%
top 11 - 20 holdings.
- December 29, 2023: ~21%
- June 30, 2023: ~22%
- January 31, 2023: ~22%
- June 30, 2022: ~22%
- January 6, 2022: ~22%
- April 11, 2021: ~22%
- August 14, 2020: ~20%
top 21 - 30 holdings.
- December 29, 2023: ~14%
- June 30, 2023: ~14%
- January 31, 2023: ~17%
- June 30, 2022: ~16%
- January 6, 2022: ~15%
- April 11, 2021: ~14%
- August 14, 2020: ~14%
The majority of the shares in our largest holding (V) are held in a retirement account for which I do not disclose details. The weighting of this investment is:
- December 29, 2023: ~7.9%
- June 30, 2023: ~7.8%
- January 31, 2023: ~8.1%
- June 30, 2022: ~7%
- January 6, 2022: ~7.4%
- April 11, 2021: ~7.88%
- August 14, 2020: ~8.35%
The weighting of our 30th largest holding at the time of each review is:
- December 29, 2023: ~1.14%
- June 30, 2023: ~1.14%
- January 31, 2023: ~1.13%
- June 30, 2022: ~1.4%
- January 6, 2022: ~1%
- April 11, 2021: ~1.1%
- August 14, 2020: ~1.1%
Dividend Income and Dividend Yield
Dividend metrics are of little relevance in my investment decision making process. My focus is on an investment's total potential long-term investment return. Nevertheless, I track the monthly dividend income from all our holdings. I only, however, disclose the dividend income generated from the holdings within the FFJ Portfolio.
Some of my top 30 holdings have a very low dividend yield (eg. Visa, Mastercard, Danaher, S&P Global, Moody's, HEICO). In addition, Berkshire Hathaway, Copart, and Intuitive Surgical do not distribute a dividend.
Several holdings that do not fall within the top 30, either do not distribute a dividend or have a razor-thin dividend yield.
Final Thoughts
I do not invest based on share price behavior in isolation nor do I speculate. My approach is to analyze the underlying fundamentals of a company and its potential to generate an attractive long-term shareholder return. As a result, I shy away from the flavor of the day. Instead, my interest in a great company is piqued when it appears to have temporarily fallen out of favor.
The current investing environment is such that I am sitting on the sidelines and am not actively acquiring shares. The increases in the number of shares held in the FFJ Portfolio are predominantly from the automatic reinvestment of dividend income.
I wish you much success on your journey to financial freedom!
Note: Please send any feedback, corrections, or questions to [email protected].
Disclaimer: I do not know your circumstances and am not providing individualized advice or recommendations. You should not make any investment decisions without conducting your research and due diligence.
I wrote this article myself and it expresses my own opinions. I do not receive compensation for it and have no business relationship with the company mentioned in this article.
