FFJ Portfolio – March 2024

This FFJ Portfolio - March 2024 report recaps my investment activity during the month of March. A snapshot of the holdings within the portfolio at the end of each month from December 2018 to March 2024 is accessible here.

In December 2018, the FFJ Portfolio totals were:

Core Accounts:  ~$350,809 CDN and ~$418,907 USD

Side Accounts:  ~$715,363 CDN and ~$496,589 USD

Total:  ~$1,066,172 CDN and  ~$915,496 USD

In addition to having made multiple purchases subsequent to December 2018 (and a limited number of sales), my holdings have (for the most part) appreciated in value.

• The increase in the value of the FFJ Portfolio from December 2018 to March 2024 is ~$ 421,421 CDN and ~$ 4,359,263 USD.
• The increase in the value of the FFJ Portfolio from December 2018 to February 2024 is ~$ 394,724 CDN and ~$ 4,196,450 USD.
  

My purchases in the FFJ Portfolio in March 2024 are nothing close to the increase in the value of the portfolio! I think we are experiencing a period of irrational exuberance, and therefore, I am patiently waiting for a broad market correction with the hope of being able to acquire more attractively valued shares. Until such time as this happens, I am primarily acquiring shares through the automatic reinvestment of dividend income.

Purchases

Despite my heightened level of caution, I identified the following two companies during the month in which I deployed new money.

Nike (NKE)

NKE is experiencing headwinds but the brand has not been permanently impaired. This has presented what I consider to be a buying opportunity.

In my March 23 Near Term Challenges Make Nike A BUY post, I state my intent to add to my exposure on March 25. I now confirm that on March 25, I acquired 100 shares @ ~$94.92 in one of the 'Core' accounts within the FFJ Portfolio.

My current NKE exposure is 825 shares before the receipt of additional shares from the automatic reinvestment of the April 1, 2024 dividend.

Paycom Software (PAYC)

In my FFJ Portfolio - February 2024 report published on March 21 (the delay is because I was on a ski trip), I disclosed the purchase of 100 PAYC shares on March 4 @ ~$178.18.

My PAYC exposure is now 600 shares.

Dividend Income

The income from the holdings within the FFJ Portfolio is accessible here.

I base my investment decisions on risk, valuation, and long-term total potential return. Although dividend metrics are of lesser importance, I do track dividend income so I can gauge approximately how many new shares I can expect to receive.

The dividend income received in March should be reasonably similar to what I received in December:

• 'Core' accounts: ~$2,267 CDN and ~$7,426 USD
• 'Side' accounts: ~$2,504 CDN and ~$3,518 USD

Since the North American equity markets are closed on March 29 for Easter, however, dividends from the following companies will not be received until the first business day in April:

• Becton Dickinson (BDX)
• Lockheed Martin (LMT)
• Intercontinental Exchange (ICE)
• Union Pacific (UNP)
• Intact Financial (IFC.to)

As a result, the dividend income received in March is less than that received in December.

• 'Core' accounts: ~$ 1,628 CDN and ~$ 6,292 USD
• 'Side' accounts: ~$ 2,430 CDN and ~$ 2,941 USD

I received dividend income from the following companies in the FFJ Portfolio and retirement accounts for which I do not disclose details.

• Blackrock (BLK)
• Broadridge (BR)
• Chevron (CVX)
• Church & Dwight (CHD)
• CME Group (CME)
• Emerson Electric (EMR)
• Exxon Mobil (XOM)
• Fortive (FTV)
• Goldman Sachs (GS)
• Home Depot (HD)
• Johnson & Johnson (JNJ)
• McDonald's (MCD)
• Microsoft (MSFT)
• Moody's (MCO)
• Nasdaq (NDAQ)
• Otis Worldwide (OTIS)
• Paycom Software (PAYC)
• RTX Corp (RTX)
• Rollins (ROL)
• S&P Global (SPGI)
• Union Pacific (UNP)
• Visa (V)
• Alimentation Couche-Tard (ATD.to)
• Brookfield Asset Management (BAM-a.to)
• Brookfield Reinsurance Partners (BNRE.to)
• Brookfield Business Corporation (BBUC.to)
• Brookfield Business Partners (BBU-un.to)
• Brookfield Corporation (BN.to)
• Brookfield Infrastructure Partners (BIP-un.to)
• Brookfield Infrastructure Corporation (BIPC.to)
• Brookfield Renewable Partners (BEP-un.to)
• Brookfield Renewable Corporation (BEPC)
• Canadian National Railway (CNR.to)
• Enbridge (ENB.to)

Holdings

These are the monthly values of the FFJ Portfolio over the past several months.

January 2022

Core Accounts: ~$773,000 CDN and ~$1,858,000 USD

Side Accounts: ~$666,000 CDN and ~$1,475,000 USD

Total: ~$1,439,000 CDN and ~$3,333,000 USD

February 2022

Core Accounts: ~$778,000 CDN and ~$2,014,000 USD

Side Accounts: ~$672,000 CDN and ~$1,465,000 USD

Total: ~$1,450,000 CDN and ~$3,479,000 USD

March 2022

Core Accounts: ~$810,000 CDN and ~$2,118,000 USD

Side Accounts: ~$696,000 CDN and ~$1,554,000 USD

Total: ~$1,506,000 CDN and ~$3,672,000 USD

April 2022

Core Accounts: ~$770,332 CDN and ~$2,026,487 USD

Side Accounts: ~$658,363 CDN and ~$1,514,137 USD

Total: ~$1,428,695 CDN and ~$3,540,624 USD

May 2022

Core Accounts: ~$784,833 CDN and ~$2,133,728 USD

Side Accounts: ~$661,080 CDN and ~$1,499,998 USD

Total: ~$1,445,913 CDN and ~$3,633,726 USD

June 2022

Core Accounts:  ~$742,473 CDN and ~$2,006,645 USD

Side Accounts:  ~$595,911 CDN and ~$1,401,823 USD

Total:  ~$1,338,384 CDN and  ~$3,408,468 USD

July 2022

Core Accounts:  ~$794,405 CDN and ~$2,230,466 USD

Side Accounts:  ~$644,255 CDN and ~$1,539,292 USD

Total:  ~$1,438,660 CDN and  ~$3,769,758 USD

August 2022

Core Accounts:  ~$740,560 CDN and ~$2,064,323 USD

Side Accounts:  ~$637,547 CDN and ~$1,478,073 USD

Total:  ~$1,378,107 CDN and  ~$3,542,396 USD

September 2022

Core Accounts:  ~$707,781 CDN and ~$1,894,989 USD

Side Accounts:  ~$612,394 CDN and ~$1,311,542 USD

Total:  ~$1,320,175 CDN and  ~$3,206,531 USD

October 2022

Core Accounts:  ~$740,555 CDN and ~$2,160,153 USD

Side Accounts:  ~$624,677 CDN and ~$1,441,483 USD

Total:  ~$1,365,232 CDN and  ~$3,601,636 USD

November 2022

Core Accounts:  ~$785,647 CDN and ~$2,311,806 USD

Side Accounts:  ~$653,367 CDN and ~$1,516,013 USD

Total:  ~$1,439,014 CDN and  ~$3,827,819 USD

December 2022

Core Accounts:  ~$737,157 CDN and ~$2,271,705 USD

Side Accounts:  ~$602,514 CDN and ~$1,438,680 USD

Total:  ~$1,339,671 CDN and  ~$3,710,385 USD

January 2023

Core Accounts:  ~$775,787 CDN and ~$2,387,269 USD

Side Accounts:  ~$642,451 CDN and ~$1,520,472 USD

Total:  ~$1,418,238 CDN and  ~$3,907,741 USD

February 2023

Core Accounts:  ~$757,627 CDN and ~$2,283,481 USD

Side Accounts:  ~$634,210 CDN and ~$1,474,168 USD

Total:  ~$1,391,837 CDN and  ~$3,757,649 USD

March 2023

Core Accounts:  ~$747,355 CDN and ~$2,385,759 USD

Side Accounts:  ~$628,335 CDN and ~$1,532,785 USD

Total:  ~$1,375,690 CDN and  ~$3,918,544 USD

April 2023

Core Accounts:  ~$768,494 CDN and ~$2,506,613 USD

Side Accounts:  ~$638,604 CDN and ~$1,527,968 USD

Total:  ~$1,407,098 CDN and  ~$4,034,581 USD

May 2023

Core Accounts:  ~$726,443 CDN and ~$2,536,273 USD

Side Accounts:  ~$613,517 CDN and ~$1,480,114 USD

Total:  ~$1,339,960 CDN and  ~$4,016,387 USD

June 2023

Core Accounts:  ~$769,378 CDN and ~$2,773,868 USD

Side Accounts:  ~$630,919 CDN and ~$1,611,031 USD

Total:  ~$1,400,297 CDN and  ~$4,384,899 USD

July 2023

Core Accounts:  ~$769,720 CDN and ~$2,884,064 USD

Side Accounts:  ~$641,331 CDN and ~$1,670,716 USD

Total:  ~$1,411,051 CDN and  ~$4,554,780 USD

August 2023

Core Accounts:  ~$742,952 CDN and ~$3,037,143 USD

Side Accounts:  ~$619,549 CDN and ~$1,658,762 USD

Total:  ~$1,362,501 CDN and  ~$4,695,905 USD

September 2023

Core Accounts:  ~$722,627 CDN and ~$3,001,498 USD

Side Accounts:  ~$596,498 CDN and ~$1,584,096 USD

Total:  ~$1,319,125 CDN and  ~$4,585,594 USD

October 2023

Core Accounts:  ~$695,571 CDN and ~$2,868,375 USD

Side Accounts:  ~$576,003 CDN and ~$1,529,009 USD

Total:  ~$1,271,574 CDN and  ~$4,397,384 USD

November 2023

Core Accounts:  ~$741,434 CDN and ~$3,117,406 USD

Side Accounts:  ~$624,749 CDN and ~$1,643,731 USD

Total:  ~$1,366,183 CDN and  ~$4,761,137 USD

December 2023

Core Accounts:  ~$776,979 CDN and ~$3,226,033 USD

Side Accounts:  ~$671,468 CDN and ~$1,701,449 USD

Total:  ~$1,448,447 CDN and  ~$4,927,482 USD

January 2024

Core Accounts:  ~$ 767,961 CDN and ~$ 3,248,647 USD

Side Accounts:  ~$ 663,744 CDN and ~$ 1,683,481 USD

Total:  ~$ 1,431,705 CDN and  ~$ 4,932,128 USD

February 2024

Core Accounts:  ~$ 790,776 CDN and ~$ 3,391,122 USD

Side Accounts:  ~$ 670,120 CDN and ~$ 1,720,824 USD

Total:  ~$ 1,460,896 CDN and  ~$ 5,111,946 USD

March 2024

Core Accounts:  ~$ 805,020 CDN and ~$ 3,540,967 USD

Side Accounts:  ~$ 682,573 CDN and ~$ 1,733,792 USD

Total:  ~$ 1,487,593 CDN and  ~$ 5,274,759 USD

NOTE: The above values exclude investments in several tax-efficient accounts for which I do not disclose details.

That's it for now.

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. I encourage you to make all investment decisions through research and due diligence. You should also consult your financial advisor where appropriate.

I wrote this article myself and it expresses my own opinions. I am not receiving compensation for it and have no business relationship with any company whose stock is mentioned in this article.