Contents
My underlying reason for performing this 2024 Mid Year FFJ Portfolio Review is to get a high level overview of all our investments. I manage a total of 19 accounts held at two discount brokers. 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 limited information about the purchases and sales I advise them to make and exclude all their investments in my month end reports.
I last completed such a review in this December 30, 2023 post using the December 29, 2023 closing stock prices. In this Investment Holdings Review I use the June 28, 2024 closing stock prices.
This Investment Holdings Review reflects the rankings on June 28, 2024, December 29, 2023, January 31, 2023, June 30, 2022, January 6, 2022, April 11, 2021, and August 14, 2020; 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:
- June 30, 2024: 1.3689 CDN = $1 USD
- 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.
- June 30, 2024: ~81%
- 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.
- June 30, 2024: ~44%
- 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.
- June 30, 2024: ~23%
- 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.
- June 30, 2024: ~15%
- 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:
- June 30, 2024: ~9.5%
- 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:
- June 30, 2024: ~1.3%
- 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 as my interest lies in an investment's total potential long-term 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.
Examples of holdings that either do not distribute a dividend or that have a low dividend yield are Berkshire Hathaway, Copart, Intuitive Surgical, Visa, Mastercard, Danaher, S&P Global, Moody's, HEICO, West Pharmaceuticals, Veeva Systems.
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.
As noted in my FFJ Portfolio - June 2024 report, I continue to think we are experiencing a 'suspension of disbelief' period in which many investors are replacing reality for magic. I have, therefore, increased my liquidity in the hope that we experience a sharp broad market correction so I can acquire shares in high quality companies at more favorable valuations.
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.
