I have been away the majority of March and the first half of April thus the delay in providing this FFJ Portfolio – March 2026 report. All previous monthly reports are accessible here.
Market conditions in March presented an opportunity for long-term investors to acquire shares in great companies at favorable valuations.
During the month, the automatic reinvestment of dividend income enabled me to increase my exposure in several companies. My preference from a capital allocation perspective, however, is for companies to repurchase undervalued shares as opposed to distributing dividends. Given the market conditions we experienced in March, I am hopeful that several of the companies to which I have exposure were able to aggressively repurchase shares.
Recent Activity
Purchases
Cintas (CTAS)
Young investors I am helping on their journey to financial freedom acquired shares in Cintas. I do not disclose details of such purchases.
Sales
None.
Dividend Income
Dividend metrics are of little relevance in my investment decision making process. My interest lies in an investment’s TOTAL potential investment return. In many cases, the preferred means by which a company can allocate its capital is to:
- reinvest in the business
- repurchase shares
- merge or acquire
Nevertheless, I track dividend income and make this information accessible here.
In March, I received dividend income from the following companies.
- Becton Dickinson (BDX)
- CME Group (CME)
- Chevron (CVX)
- Church & Dwight (CHD)
- Cintas (CTAS)
- Exxon Mobil (XOM)
- Fortive (FTV)
- Home Depot (HD)
- Intercontinental Exchange (ICE)
- Johnson & Johnson (JNJ)
- Lockheed Martin (LMT)
- McDonald’s (MCD)
- Microsoft (MSFT)
- Moody’s (MCO)
- Nasdaq (NDAQ)
- Paycom Software (PAYC)
- RTX Corp (RTX)
- Rollins (ROL)
- S&P Global (SPGI)
- Thomson Reuters (TRI)
- Visa (V)
- Canadian National Railway (CNR.to)
Shares in some of these companies are also held in retirement accounts.
The March dividend income was:
- ‘Core’ accounts: ~$2,206 CDN and ~$15,300 USD
- ‘Side’ accounts: ~$431 CDN and ~$4,115 USD
The YTD2026 dividend income is:
- ‘Core’ accounts: ~$3,438 CDN and ~$21,755 USD
- ‘Side’ accounts: ~$431 CDN and ~$5,785 USD
Holdings
In prior FFJ Portfolio monthly posts I explain why the ‘Side’ accounts component of the portfolio experienced a dramatic reduction in June 2024.
April 2024
Core Accounts: ~$ 739,787 CDN and ~$ 3,540,445 USD
Side Accounts: ~$ 606,667 CDN and ~$ 1,696,869 USD
Total: ~$ 1,346,454 CDN and ~$ 5,237,314 USD
May 2024
Core Accounts: ~$ 569,237 CDN and ~$ 3,642,078 USD
Side Accounts: ~$ 299,732 CDN and ~$ 1,784,750 USD
Total: ~$ 868,969 CDN and ~$ 5,426,828 USD
June 2024
Core Accounts: ~$ 553,777 CDN and ~$ 3,965,820 USD
Side Accounts: ~$ 0 CDN and ~$ 630,943 USD
Total: ~$ 553,777 CDN and ~$ 4,596,763 USD
July 2024
Core Accounts: ~$ 598,271 CDN and ~$ 4,218,120 USD
Side Accounts: ~$ 0 CDN and ~$ 881,679 USD
Total: ~$ 598,271 CDN and ~$ 5,099,799 USD
August 2024
Core Accounts: ~$ 598,631 CDN and ~$ 4,368,140 USD
Side Accounts: ~$ 27,470 CDN and ~$ 931,443 USD
Total: ~$ 626,101 CDN and ~$ 5,299,583 USD
September 2024
Core Accounts: ~$ 620,426 CDN and ~$ 4,428,345 USD
Side Accounts: ~$ 32,226 CDN and ~$ 953,814 USD
Total: ~$ 652,652 CDN and ~$ 5,382,159 USD
October 2024
Core Accounts: ~$ 617,739 CDN and ~$ 4,411,985 USD
Side Accounts: ~$ 37,230 CDN and ~$ 960,683 USD
Total: ~$ 654,969 CDN and ~$ 5,372,668 USD
November 2024
Core Accounts: ~$ 649,920 CDN and ~$ 4,786,925 USD
Side Accounts: ~$ 40,476 CDN and ~$ 1,026,183 USD
Total: ~$ 690,396 CDN and ~$ 5,813,108 USD
December 2024
Core Accounts: ~$ 628,504 CDN and ~$ 4,670,202 USD
Side Accounts: ~$ 39,292 CDN and ~$ 1,066,098 USD
Total: ~$ 667,796 CDN and ~$ 5,736,300 USD
January 2025
Core Accounts: ~$ 660,263 CDN and ~$ 4,950,735 USD
Side Accounts: ~$ 44,099 CDN and ~$ 1,126,663 USD
Total: ~$ 704,362 CDN and ~$ 6,077,398 USD
February 2025
Core Accounts: ~$ 653,051 CDN and ~$ 4,970,834 USD
Side Accounts: ~$ 41,447 CDN and ~$ 1,190,729 USD
Total: ~$ 694,498 CDN and ~$ 6,161,563 USD
March 2025
Core Accounts: ~$ 617,286 CDN and ~$ 4,829,134 USD
Side Accounts: ~$ 35,596 CDN and ~$ 1,265,103 USD
Total: ~$ 652,882 CDN and ~$ 6,094,237 USD
April 2025
Core Accounts: ~$ 620,799 CDN and ~$ 4,708,988 USD
Side Accounts: ~$ 74,619 CDN and ~$ 1,352,923 USD
Total: ~$ 695,418 CDN and ~$ 6,061,911 USD
May 2025
Core Accounts: ~$ 660,717 CDN and ~$ 4,863,614 USD
Side Accounts: ~$ 78,367 CDN and ~$ 1,402,636 USD
Total: ~$ 739,084 CDN and ~$ 6,266,250 USD
June 2025
Core Accounts: ~$ 667,624 CDN and ~$ 5,101,029 USD
Side Accounts: ~$ 83,394 CDN and ~$ 1,401,732 USD
Total: ~$ 751,018 CDN and ~$ 6,502,761 USD
July 2025
Core Accounts: ~$ 710,951 CDN and ~$ 5,318,092 USD
Side Accounts: ~$ 90,407 CDN and ~$ 1,396,771 USD
Total: ~$ 801,358 CDN and ~$ 6,714,863 USD
August 2025
Core Accounts: ~$ 716,802 CDN and ~$ 5,471,511 USD
Side Accounts: ~$ 87,700 CDN and ~$ 1,405,698 USD
Total: ~$ 804,502 CDN and ~$ 6,877,209 USD
September 2025
Core Accounts: ~$ 722,031 CDN and ~$ 5,583,274 USD
Side Accounts: ~$ 88,771 CDN and ~$ 1,451,505 USD
Total: ~$ 810,802 CDN and ~$ 7,034,779 USD
October 2025
Core Accounts: ~$ 741,526 CDN and ~$ 5,831,838 USD
Side Accounts: ~$ 87,158 CDN and ~$ 1,363,995 USD
Total: ~$ 828,684 CDN and ~$ 7,088,807 USD
November 2025
Core Accounts: ~$ 771,369 CDN and ~$ 5,831,838 USD
Side Accounts: ~$ 87,605 CDN and ~$ 1,400,414 USD
Total: ~$ 858,974 CDN and ~$ 7,232,252 USD
December 2025
Core Accounts: ~$ 777,299 CDN and ~$ 6,044,049 USD
Side Accounts: ~$ 84,797 CDN and ~$ 1,416,542 USD
Total: ~$ 862,096 CDN and ~$ 7,460,591 USD
January 2026
Core Accounts: ~$ 783,961 CDN and ~$ 6,233,707 USD
Side Accounts: ~$ 81,866 CDN and ~$ 1,395,241 USD
Total: ~$ 865,827 CDN and ~$ 7,628,948 USD
February 2026
Core Accounts: ~$ 843,052 CDN and ~$ 6,137,945 USD
Side Accounts: ~$ 78,111 CDN and ~$ 1,367,986 USD
Total: ~$ 921,163 CDN and ~$ 7,505,931 USD
March 2026
Core Accounts: ~$804,086 CDN and ~$5,880,475 USD
Side Accounts: ~$74,563 CDN and ~$1,272,962 USD
Total: ~$878,649 CDN and ~$7,153,437 USD
NOTE: The above values exclude investments in several tax-efficient accounts for which I do not disclose details.
Final Thoughts
While market conditions have improved subsequent to March month end, I am optimistic that broad market conditions will deteriorate again before the year is over.
I wish you much success on your journey to financial freedom.
Note: Please send any feedback, corrections, or questions to finfreejourney@gmail.com.
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.
