Insight into the Fund's Q2 2024 Investment Moves and Sector Adjustments
Mawer Canadian Equity Fund (Trades, Portfolio), known for its disciplined investment approach, targets long-term growth by investing in large-cap Canadian companies. The fund's strategy emphasizes a bottom-up process, focusing on companies with strong management teams and purchasing at a discount to intrinsic value. This approach is designed for investors who are prepared for equity volatility and seek above-average growth.
Summary of New Buys
The fund initiated a position in Boyd Group Services Inc (TSX:BYD, Financial), purchasing 129,137 shares. This new holding now accounts for 0.97% of the portfolio, with a total value of C$33.18 million.
Key Position Increases
During the second quarter of 2024, Mawer Canadian Equity Fund (Trades, Portfolio) expanded its stakes in several companies:
- TFI International Inc (TSX:TFII, Financial) saw an addition of 244,739 shares, increasing the total to 284,438 shares. This adjustment marks a 616.49% increase in share count and impacts the portfolio by 1.41%, with a total value of C$56.50 million.
- Topicus.com Inc (TSXV:TOI, Financial) also experienced a significant boost with an additional 380,585 shares, bringing the total to 518,008 shares. This represents a 276.94% increase in share count, with a total value of C$60.61 million.
Key Position Reductions
The fund reduced its positions in several key stocks:
- The Toronto-Dominion Bank (TSX:TD, Financial) was reduced by 634,955 shares, a 33.05% decrease, impacting the portfolio by -1.54%. The stock had an average trading price of C$79.39 during the quarter, with a 5.21% return over the past three months and a -1.84% return year-to-date.
- Brookfield Corp (TSX:BN, Financial) saw a reduction of 478,000 shares, a 21.36% decrease, impacting the portfolio by -0.72%. The stock traded at an average price of C$55.85 during the quarter, returning 5.27% over the past three months and 20.12% year-to-date.
Portfolio Overview
As of the second quarter of 2024, Mawer Canadian Equity Fund (Trades, Portfolio)'s portfolio comprised 43 stocks. The top holdings included 5.39% in Royal Bank of Canada (TSX:RY, Financial), 4.82% in Canadian Natural Resources Ltd (TSX:CNQ, Financial), and 3.90% in Loblaw Companies Ltd (TSX:L, Financial). The portfolio is mainly concentrated across 10 industries, including Financial Services, Industrials, and Consumer Cyclical.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
