Contents
Another month has flown by thus triggering this FFJ Portfolio - March 2025 report; all monthly reports are accessible here.
At the end of every post, I include the 'I do not know your circumstances and am not providing individualized advice or recommendations' disclaimer. I want to ensure everyone reading my posts has no preconceived notion that my 'investment decisions' are anything more than opinions.
We each have our respective goal, objectives, level of investment knowledge, risk tolerance, investment time horizon, etc.. What may be a suitable investment for me may not be so for everyone following this blog.
In my case, my:
- goal is to create intergenerational wealth;
- objectives are to invest in companies with 'wide moats' that have a strong probability of remaining at the forefront of their industry.
- focus is on an investment's total potential shareholder return. Dividend metrics are of little relevance in my decision making process. Many of my holdings are likely to generate the majority of their return by way of capital appreciation;
- investment knowledge is advanced (not professional);
- risk tolerance calls for no permanent capital impairment; and
- investment time horizon is measured in decades.
Although I many not be around for decades, I invest in companies with the mindset that they will be investment holdings beyond my lifespan.
Recent Activity
I am not aggressively deploying cash sitting on the 'sidelines' because I think the current geo-political environment will lead to an improvement in valuations.
Purchases
I made one purchase in March.
S&P Global (SPGI)
- 200 shares @ ~$506.47 on March 4 and 7. My SPGI exposure is now 350 shares in a 'Core' account and 200 shares in a 'Side' account in the FFJ Portfolio
Sales
None.
Dividend Income
Dividend metrics are of little relevance in my investment decision making process. My interest lies in an investment's TOTAL potential investment return. In many cases, the preferred means by which a company can allocate its capital is to:
- reinvest in the business
- repurchase shares
- merger or acquire
Nevertheless, I track dividend income and make this information accessible here.
The dividend income received in March is:
- 'Core' accounts: ~$ 1,886 CDN and ~$ 10,699 USD
- 'Side' accounts: ~$ 319 CDN and ~$ 1,801 USD
YTD2025 dividend income is:
- 'Core' accounts: ~$ 2,954 CDN and ~$ 18,157 USD
- 'Side' accounts: ~$ 319 CDN and ~$ 4,960 USD
In March, I received dividend income in retirement accounts and accounts included in the FFJ Portfolio from:
- Brookfield Asset Management (BAM.to)
- Brookfield Corporation (BN.to)
- Canadian national Railway (CNR.to)
- Intact Financial (IFC.to)
- Becton Dickinson (BDX)
- Blackrock (BLK)
- Chevron (CVX)
- Church & Dwight (CHD)
- Cintas (CTAS)
- CME Group (CME)
- Emerson Electric (EMR)
- 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)
- Otis (OTIS)
- Paycom (PAYC)
- Pepsico (PEP)
- Rollins (ROL)
- RTX Corp. (RTX)
- S&P Global (SPGI)
- Union Pacific (UNP)
- Visa (V)
Holdings
In prior FFJ Portfolio monthly posts I explain why the value of the 'Side' accounts component of the portfolio experienced a dramatic reduction in value 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
NOTE: The above values exclude investments in several tax-efficient accounts for which I do not disclose details.
Final Thoughts
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.
