Contents
My underlying reason for performing this Mid 2023 Investment Holdings Review based on June 30, 2023 closing stock prices is that I hold shares in several investment accounts. Undertaking an Investment Holdings Review enables me to get a better picture of my exposure to each holding.
I last completed such a review on January 31, 2023; this review is accessible here.
This Investment Holdings Review includes the rankings on June 30, 2023, January 31, 2023, June 30, 2022, January 6, 2022, April 11, 2021, and August 14, 2020 for comparison; 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, 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, 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, 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, 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, 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, 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, 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
Although I track the monthly dividend income from all our holdings, I only disclose the dividend income generated from the holdings within the FFJ Portfolio. Dividend metrics, however, are not the basis upon which I make investment decisions. My focus is on an investment's total potential long-term investment return.
Some of my top 30 holdings have a very low dividend yield (eg. Visa, Mastercard, Danaher, S&P Global, Moody's, HEICO). In addition, Berkshire Hathaway and Intuitive Surgical do not distribute a dividend.
Several holdings that do not fall within the top 30, such as Copart (my 31st largest holding), either do not distribute a dividend or have a razor-thin dividend yield.
Final Thoughts
The results of such an analysis change over time. Nevertheless, I periodically complete such an analysis to help me put things in perspective; I have to manage 17 investment accounts that each have CDN and USD holdings and several investment accounts have exposure to the same companies.
None of my holdings are speculative and I am confident they would continue to generate strong free cash flow and be profitable even in an economic downturn. Naturally, not all companies would be negatively impacted to the same degree. The value of some holdings fluctuates more than others. However, I would not lose sleep even if we were to experience a broad market pullback of 50%. Instead, I would view such a correction as a potential buying opportunity.
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.
