Insightful Overview of Portfolio Adjustments and Key Financial Moves
EDGEPOINT CANADIAN PORTFOLIO (Trades, Portfolio), known for its strategic investments in Canadian markets, recently disclosed its N-PORT filing for the second quarter of 2024. The portfolio is managed with a focus on long-term capital appreciation, targeting companies that boast strong competitive positions, sustainable barriers to entry, promising growth prospects, and effective management. The investment team leverages a wealth of diverse experience and a collaborative approach to deeply understand and invest in robust businesses.
New Additions to the Portfolio
During this quarter, EDGEPOINT CANADIAN PORTFOLIO (Trades, Portfolio) expanded its holdings by adding nine new stocks. Noteworthy among these are:
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Altus Group Ltd (TSX:AIF), acquiring 689,920 shares, making up 1.04% of the portfolio, valued at C$34.85 million.
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Koninklijke Philips NV (NYSE:PHG), with 973,943 shares, representing about 1% of the portfolio, totaling $33.66 million.
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Lincoln Electric Holdings Inc (NASDAQ:LECO), adding 94,278 shares, accounting for 0.73% of the portfolio, valued at $24.33 million.
Significant Increases in Existing Positions
The portfolio also saw substantial increases in several of its existing stakes:
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Dye & Durham Ltd (TSX:DND) saw an addition of 4,168,064 shares, bringing the total to 6,644,575 shares. This represents a 168.3% increase in share count and a 1.53% impact on the portfolio, valued at C$81.86 million.
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CAE Inc (TSX:CAE) increased by 1,677,286 shares, totaling 2,765,496 shares, marking a 154.13% rise in share count, valued at C$70.27 million.
Complete Exits from Certain Holdings
The portfolio strategically exited five positions this quarter, including:
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Secure Energy Services Inc (TSX:SES), where all 5,351,990 shares were sold, impacting the portfolio by -1.71%.
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TransAlta Corp (TSX:TA), with all 3,290,246 shares liquidated, causing a -1.23% impact on the portfolio.
Reductions in Key Holdings
Adjustments were also made by reducing stakes in 14 stocks, with significant reductions in:
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CES Energy Solutions Corp (TSX:CEU), reduced by 7,763,062 shares, a -29.25% decrease, impacting the portfolio by -0.91%. The stock traded at an average price of C$5.27 during the quarter, returning 19.45% over the past three months and 136.97% year-to-date.
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Element Fleet Management Corp (TSX:EFN), reduced by 774,457 shares, a -14.28% decrease, impacting the portfolio by -0.57%. The stock traded at an average price of C$22.81 during the quarter, returning 17.50% over the past three months and 29.48% year-to-date.