Exploring the Fund's Recent Investment Adjustments
PH&N Vintage Fund (Trades, Portfolio) recently submitted its N-PORT filing for the fourth quarter of 2024, offering a glimpse into its strategic investment decisions during this period. The fund is known for its focus on long-term capital growth and dividend income, primarily investing in a diversified portfolio of common stocks of Canadian corporations listed on the Toronto Stock Exchange. With a cap of 50% on foreign securities, the fund aims to balance growth and income through its well-curated stock selections.
Summary of New Buy
PH&N Vintage Fund (Trades, Portfolio) added a total of four stocks to its portfolio, with notable additions including:
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The most significant addition was Wheaton Precious Metals Corp (TSX:WPM), with 22,460 shares, accounting for 1.01% of the portfolio and a total value of C$1.82 million.
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The second largest addition was ATS Corp (TSX:ATS), consisting of 26,870 shares, representing approximately 0.65% of the portfolio, with a total value of C$1.18 million.
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The third largest addition was MEG Energy Corp (TSX:MEG), with 26,770 shares, accounting for 0.35% of the portfolio and a total value of C$632,000.
Key Position Increases
PH&N Vintage Fund (Trades, Portfolio) also increased stakes in a total of 28 stocks, with significant increases in:
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Canadian Imperial Bank of Commerce (TSX:CM), with an additional 30,030 shares, bringing the total to 66,610 shares. This adjustment represents a significant 82.09% increase in share count, a 1.51% impact on the current portfolio, and a total value of C$6.06 million.
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Shopify Inc (TSX:SHOP), with an additional 9,580 shares, bringing the total to 51,670. This adjustment represents a 22.76% increase in share count, with a total value of C$7.91 million.
Summary of Sold Out
PH&N Vintage Fund (Trades, Portfolio) completely exited three holdings in the fourth quarter of 2024, including:
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Open Text Corp (TSX:OTEX): The fund sold all 27,756 shares, resulting in a -0.76% impact on the portfolio.
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Sleep Country Canada Holdings Inc (TSX:ZZZ): The fund liquidated all 27,280 shares, causing a -0.48% impact on the portfolio.
Key Position Reduces
PH&N Vintage Fund (Trades, Portfolio) also reduced positions in 33 stocks, with significant changes including:
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Reduced Bank of Montreal (TSX:BMO) by 7,300 shares, resulting in a -19.72% decrease in shares and a -0.56% impact on the portfolio. The stock traded at an average price of C$124.46 during the quarter and has returned -0.44% over the past 3 months and year-to-date.
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Reduced Rogers Communications Inc (TSX:RCI.B) by 12,490 shares, resulting in a -18.86% reduction in shares and a -0.42% impact on the portfolio. The stock traded at an average price of C$51.62 during the quarter and has returned -11.96% over the past 3 months and year-to-date.