Insightful Portfolio Adjustments Highlight Strategic Market Moves
PH&N Vintage Fund (Trades, Portfolio), known for its strategic investments in Canadian corporations listed on the Toronto Stock Exchange, recently disclosed its N-PORT filing for the second quarter of 2024. The fund, which aims for long-term capital growth and dividend income, may allocate up to 50% of its assets in foreign securities, maintaining a diversified portfolio to optimize shareholder returns.
Summary of New Buys
During this quarter, PH&N Vintage Fund (Trades, Portfolio) initiated a position in one new stock:
- Pan American Silver Corp (TSX:PAAS, Financial) was a notable addition with 31,240 shares, representing 0.57% of the portfolio, valued at C$849 million.
Key Position Increases
The fund significantly increased its stakes in several companies, with particular emphasis on:
- Shopify Inc (TSX:SHOP, Financial), where it added 17,190 shares, bringing the total to 42,090 shares. This adjustment increased the share count by 69.04%, impacting the portfolio by 1.04% with a total value of C$3,805,000.
- Fairfax Financial Holdings Ltd (TSX:FFH, Financial) also saw an increase of 990 shares, bringing the total to 1,640 shares. This represents a 152.31% increase in share count, valued at C$2,552,000.
Summary of Sold Out Positions
The fund exited positions in five companies, including:
- Tricon Residential Inc (TSX:TCN, Financial), selling all 81,595 shares, which impacted the portfolio by -0.79%.
- TC Energy Corp (TSX:TRP, Financial), where all 17,490 shares were liquidated, causing a -0.73% portfolio impact.
Key Position Reductions
Reductions were made in seven stocks, with significant changes in:
- Atkinsrealis Group Inc (TSX:ATRL, Financial), reduced by 26,480 shares, resulting in a -60.91% decrease and a -0.91% portfolio impact. The stock traded at an average price of C$55.07 during the quarter, returning 0.88% over the past three months and 25.88% year-to-date.
- Canadian Natural Resources Ltd (TSX:CNQ, Financial) saw a reduction of 8,700 shares, a -11.07% decrease, impacting the portfolio by -0.3%. The stock's average trading price was C$48.28 this quarter, with a -5.78% return over the past three months and a 15.91% year-to-date gain.
Portfolio Overview
As of the second quarter of 2024, PH&N Vintage Fund (Trades, Portfolio)'s portfolio included 69 stocks. The top holdings were 6.49% in Royal Bank of Canada (TSX:RY, Financial), 5.08% in The Toronto-Dominion Bank (TSX:TD, Financial), 4.97% in Enbridge Inc (TSX:ENB, Financial), 3.08% in Canadian Pacific Kansas City Ltd (TSX:CP, Financial), and 2.99% in Brookfield Corp (TSX:BN, Financial). The fund's investments are well-distributed across all 11 industries, including Financial Services, Energy, Industrials, and more.
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.
