Investment Holdings Review - January 2022

In my recent FFJ Portfolio – December 2021 Report I mention that the weightings of our investment holdings have changed from the time of my April 2021 review.

In this post, I compare our top 30 holdings (held within the FFJ Portfolio and in accounts for which I do not disclose details) relative to the top 30 holdings reflected in my mid-April 2021 and mid-August 2020 reviews.

Our top 30 holdings comprise ~79.49% of our total holdings versus ~77.21% in mid-April 2021 and ~77% in mid-August 2020.

The foreign exchange conversion rate at the time of my April 2021 review was $1.2545 CDN = $1 USD. The rate at the time of my August 2020 review was $1.34 CDN = $1 USD. The conversion rate used in this review is $1.2731 CDN = $1 USD.

TOP 10 HOLDINGS

January 6, 2022

Our top 10 holdings comprise ~42.82% of our overall holdings versus ~40.64% in mid-April 2021 and ~43.1% in mid-August 2020.

The majority of shares in our largest holding (Visa) is held in an account for which I do not disclose details. This holding is now ~7.4% of our overall holdings versus ~7.88% in mid-April 2021 and ~8.35% in mid-August 2020.

  1. Visa (V) - shares are held in the FFJ Portfolio and accounts for which I do not disclose details.
  2. Mastercard (MA) - shares are held in the FFJ Portfolio.
  3. Church & Dwight (CHD) - shares are held in the FFJ Portfolio and accounts for which I do not disclose details.
  4. Chevron (CVX) - shares are held in the FFJ Portfolio.
  5. Becton, Dickinson (BDX) - shares are held in the FFJ Portfolio and accounts for which I do not disclose details.
  6. (TIE) The Royal Bank of Canada (RY.TO) and Walmart (WMT) - shares are held in the FFJ Portfolio and accounts for which I do not disclose details.
  7. Apple (AAPL) - shares are held in the FFJ Portfolio.
  8. The Toronto-Dominion Bank (TD.TO) - shares are held in the FFJ Portfolio and accounts for which I do not disclose details.
  9. Johnson & Johnson (JNJ) - shares are held in the FFJ Portfolio and accounts for which I do not disclose details.
  10. (TIE) The Brookfield Group of Companies (BAM-a.TO) and 3M (MMM) - shares are held in the FFJ Portfolio and accounts for which I do not disclose details.

Mid-April 2021

  1. Visa (V) - shares are held in accounts for which I do not disclose details.
  2. Mastercard (MA) - shares are held in the FFJ Portfolio.
  3. Church & Dwight (CHD) - shares are held in the FFJ Portfolio and accounts for which I do not disclose details.
  4. The Royal Bank of Canada (RY.TO) - shares are held in the FFJ Portfolio and accounts for which I do not disclose details.
  5. Becton, Dickinson (BDX) - shares are held in the FFJ Portfolio and accounts for which I do not disclose details.
  6. The Bank of Nova Scotia (BNS.TO) - shares are held in the FFJ Portfolio and accounts for which I do not disclose details.
  7. Walmart (WMT) - shares are held in the FFJ Portfolio and accounts for which I do not disclose detail.
  8. 3M (MMM) - shares are held in the FFJ Portfolio and accounts for which I do not disclose details.
  9. Chevron (CVX) - shares are held in the FFJ Portfolio.
  10. Johnson & Johnson (JNJ) - shares are held in the FFJ Portfolio and accounts for which I do not disclose details.

Mid-August 2020

  1. Visa (V) - shares are held in accounts for which I do not disclose details.
  2. Church & Dwight (CHD) - shares are held in accounts for which I do not disclose details.
  3. Becton, Dickinson (BDX) - shares are held in the FFJ Portfolio and accounts for which I do not disclose details.
  4. Mastercard (MA) - shares are held in the FFJ Portfolio.
  5. Walmart (WMT) - shares are held in the FFJ Portfolio and accounts for which I do not disclose detail.
  6. The Royal Bank of Canada (RY.TO) - shares are held in the FFJ Portfolio and accounts for which I do not disclose details.
  7. Johnson & Johnson (JNJ) - shares are held in the FFJ Portfolio and accounts for which I do not disclose details.
  8. Chevron (CVX) - shares are held in the FFJ Portfolio.
  9. 3M (MMM) - shares are held in the FFJ Portfolio and accounts for which I do not disclose details.
  10. The Bank of Nova Scotia (BNS.TO) - shares are held in the FFJ Portfolio and accounts for which I do not disclose details.

TOP 11 - 20 HOLDINGS

January 6, 2022

Our top 11 - 20 holdings are ~21.64% of our overall holdings versus ~22.41% in mid-April 2021 and ~20.3% in mid-August 2020.

  1. The Bank of Nova Scotia (BNS.TO) - shares are held in the FFJ Portfolio and accounts for which I do not disclose details.
  2. Lockheed Martin (LMT) - shares are held in the FFJ Portfolio.
  3. Berkshire Hathaway (BRK-b) - shares are held in the FFJ Portfolio and accounts for which I do not disclose details.
  4. Automatic Data Processing (ADP) - shares are held in accounts for which I do not disclose details.
  5. The Bank of Montreal (BMO.TO) - shares are held in the FFJ Portfolio.
  6. Canadian National Railway (CNR.TO) - shares are held in the FFJ Portfolio.
  7. CME (CME) - shares are held in the FFJ Portfolio.
  8. (TIE) FedEx (FDX) and S&P Global Inc (SPGI) - shares are held in the FFJ Portfolio and accounts for which I do not disclose details.
  9. Broadridge Financial Solutions (BR) - shares are held in the FFJ Portfolio and accounts for which I do not disclose details.
  10. United Parcel Service (UPS) - shares are held in accounts for which I do not disclose details.

Mid-April 2021

Our top 11 - 20 holdings are ~22.41% of our overall holdings versus ~20.3% in mid-August 2020.

  1. The Brookfield Group of Companies (BAM-a.TO) - shares are held in the FFJ Portfolio and accounts for which I do not disclose details.
  2. Apple (AAPL) - shares are held in the FFJ Portfolio.
  3. The Toronto-Dominion Bank (TD.TO) - shares are held in the FFJ Portfolio and accounts for which I do not disclose details.
  4. FedEx (FDX) - shares are held in the FFJ Portfolio and accounts for which I do not disclose details.
  5. Canadian National Railway (CNR.TO) - shares are held in the FFJ Portfolio.
  6. Berkshire Hathaway (BRK-b) - shares are held in the FFJ Portfolio and accounts for which I do not disclose details.
  7. CME (CME) - shares are held in the FFJ Portfolio.
  8. Lockheed Martin (LMT) - shares are held in the FFJ Portfolio.
  9. The Bank of Montreal (BMO.TO) - shares are held in the FFJ Portfolio and accounts for which I do not disclose details.
  10. Automatic Data Processing (ADP) - shares are held in accounts for which I do not disclose details.

Mid-August 2020

  1. Apple (AAPL) - shares are held in the FFJ Portfolio.
  2. Canadian National Railway (CNR.TO) - shares are held in the FFJ Portfolio.
  3. The Brookfield Group of Companies (BAM-a.TO) - shares are held in the FFJ Portfolio and accounts for which I do not disclose details.
  4. FedEx (FDX) - shares are held in the FFJ Portfolio and accounts for which I do not disclose details.
  5. CME (CME) - shares are held in the FFJ Portfolio.
  6. The Toronto-Dominion Bank (TD.TO) - shares are held in the FFJ Portfolio and accounts for which I do not disclose details.
  7. Berkshire Hathaway (BRK-b) - shares are held in the FFJ Portfolio and accounts for which I do not disclose details.
  8. Broadridge Financial Solutions (BR) - shares are held in the FFJ Portfolio and accounts for which I do not disclose details.
  9. Automatic Data Processing (ADP) - shares are held in accounts for which I do not disclose details.
  10. BCE (BCE.TO) - shares are held in the FFJ Portfolio and accounts for which I do not disclose details.

TOP 21 - 30 HOLDINGS

January 6, 2022

Our top 21 - 30 holdings are ~15.03% of our overall holdings versus ~14.16% in mid-April 2021 and ~13.6% in mid-August 2020.

  1. BCE (BCE.TO) - shares are held in the FFJ Portfolio and accounts for which I do not disclose details.
  2. (TIE) - Blackrock (BX) and Raytheon Technologies (RTX) - shares are held in the FFJ Portfolio and accounts for which I do not disclose details.
  3. Exxon Mobil (XOM) - shares are held in the FFJ Portfolio and accounts for which I do not disclose details.
  4. Moody’s (MCO) - shares are held in the FFJ Portfolio.
  5. Nike (NKE) - shares are held in the FFJ Portfolio and accounts for which I do not disclose details.
  6. (TIE) - McDonald’s (MCD) and Intact Financial (IFC.TO) - shares are held in the FFJ Portfolio and accounts for which I do not disclose details.
  7. Union Pacific (UNP) - shares are held in the FFJ Portfolio.
  8. PepsiCo (PEP) - shares are held in accounts for which I do not disclose details.
  9. Cisco (CSCO)  - shares are held in the FFJ Portfolio.
  10. The Canadian Imperial Bank of Commerce (CM.TO) - shares are held in the FFJ Portfolio and accounts for which I do not disclose details.

Mid-April 2021

  1. S&P Global Inc (SPGI) - shares are held in the FFJ Portfolio.
  2. Broadridge Financial Solutions (BR) - shares are held in the FFJ Portfolio and accounts for which I do not disclose details.
  3. BCE (BCE.TO) - shares are held in the FFJ Portfolio and accounts for which I do not disclose details.
  4. Raytheon Technologies (RTX) - shares are held in the FFJ Portfolio and accounts for which I do not disclose details.
  5. United Parcel Service (UPS) - shares are held in accounts for which I do not disclose details.
  6. Moody’s (MCO) - shares are held in the FFJ Portfolio.
  7. Exxon Mobil (XOM) - shares are held in the FFJ Portfolio and accounts for which I do not disclose details.
  8. Canadian Pacific Railway (CP.TO) - shares are held in the FFJ Portfolio.
  9. Nike (NKE) - shares are held in the FFJ Portfolio.
  10. McDonald’s (MCD) - shares are held in the FFJ Portfolio and accounts for which I do not disclose details.

Mid-August 2020

  1. United Parcel Service (UPS) - shares are held in accounts for which I do not disclose details.
  2. The Bank of Montreal (BMO.TO) - shares are held in the FFJ Portfolio and accounts for which I do not disclose details.
  3. Stanley Black & Decker (SWK) - shares are held in the FFJ Portfolio.
  4. S&P Global Inc (SPGI) - shares are held in the FFJ Portfolio.
  5. Moody’s (MCO) - shares are held in the FFJ Portfolio.
  6. W.W. Grainger (GWW) - shares are held in the FFJ Portfolio.
  7. PepsiCo (PEP) - shares are held in accounts for which I do not disclose details.
  8. McDonald’s (MCD) - shares are held in the FFJ Portfolio and accounts for which I do not disclose details.
  9. Canadian Pacific Railway (CP.TO) - shares are held in the FFJ Portfolio.
  10. AT&T (T) - shares are held in the FFJ Portfolio and account for which I do not disclose details.

Dividend Income and Dividend Yield

I track the monthly dividend income from all our holdings and disclose the dividend income generated from the holdings within the FFJ Portfolio. Dividend income and dividend yield, however, are not the basis upon which I decide to invest in a company. I am far more interested in an investment's total potential long-term investment return.

Many of my top 30 holdings have a sub-2% dividend yield. In addition, some holdings that do not fall within the top 30 also have a razor-thin dividend yield.

  • Alimentation Couche-Tard (ATD.TO)
  • Canadian Pacific Railway (CP.TO)
  • Carrier Global Corporation (CARR)
  • Danaher (DHR)
  • Ecolab (ECL)
  • Fortive (FTV)
  • Goldman Sachs (GS)
  • Heico (HEI-a)
  • Intercontinental Exchange (ICE)
  • Intuitive Surgical (ISRG)
  • Microsoft (MSFT)
  • Otis Worldwide (OTIS)
  • Rollins (ROL)
  • Stryker (SYK)
  • Vontier (VNT)

Investment Holdings Review: January 2022 - Final Thoughts

John C. Bogle, the founder of The Vanguard Group and a highly successful investor, often said:

'Investing is not nearly as difficult as it looks. Successful investing involves doing a few things right and avoiding serious mistakes.'

Following Bogle's advice has worked out well so far and at this stage of my life, I am not prepared to take unnecessary risks. I see no reason to deviate from my strategy of acquiring shares in high-quality companies when I view them to be reasonably valued relative to their long-term future potential.

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 decision 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.