With Q3 now behind us it's time for my portfolio summary for my small yet appreciated followers. Portfolio Growth (TWR): Q3 = +4.6%; YTD = -0.53% Benchmark 1 $XEQT : Q3 = +1.04%; YTD = +13.96% Benchmark 2 $SPY : Q3 = +2.12%; YTD = +11.24% Portfolio Moves: -As I mentioned recently, towards the end of Q3 I started reorganizing my Brookfield holdings, selling half my $BN in my registered accounts and adding $BAM , $BIP-UN into my registered accounts. I also sold my $BEPC in my Non-Registered accounts and rolled that into BN. My plan is to slowly sell off BN in my registered and take advantage of the high-interest rate environment and restructuring pushing down valuations of $BIP-UN and $BEP-UN to get the higher dividend Brookfield's in my registered and focus on the corporation in my non-registered, targeting about 10% of my portfolio to be total Brookfield exposure with the 4 holdings. -I rearranged my gold holdings, fully selling out $FVI in my Registered accounts to add $AEM as a more senior minor, and sold out $FNV and $WPM in my non-registered and double down on $FVI . The purpose is to keep my Registered accounts more risk adjusted with a senior miner/streamers and focus my bullishness on FVI in my non-registered. I also really like the AEM CEO after watching his interview Amber Kanwar and AEM's CEO (Here: https://youtu.be/IoZjCT0MaFw?si=5cKxPWfD7fqrvrcC) -I sold my $ZEO / $NRGY in my non-registered to re-enter my $TOU . My investing throughout Q3: -For all new money I've invested ($1000 per paycheque) throughout Q3 it's all gone to one company: $WKL . As part of the SaaSpocalypse and using it's tools every day (UpToDate, Lexicomp) I strongly believe that AI is a net positive. Using the technical analysis tools I've learned from Gareth Soloway (https://www.youtube.com/@GarethSolowayProTrader) I discovered that not only was I finding it fundamentally cheap but also compelling as a technical basis. I called the breakout using pivot high/lows in July and continued to add on the Bull Flag throughout August and September as it hammered on the brick wall that was the 200d SMA eventually breakout out and pushing IBKR portfolio (which so far is just WKL) to a +30% gain. It's now passed by my Conservative DCF fair value of $75 Euros (assuming limited multiple expansion in a post-SaaSpocalypse world) so I will decide if I want to add more or wait. -For whatever cash beyond the $1000 I've invested and paid my bills, I've been paying down my mortgage (my emergency fund is fully). Currently my mortgage is sitting at $188K at a 3.99% Fixed Rate (Maturing 2030). -I abandoned my stock analysis on $SOBI that I began after having to make the mortgage proxy that is emapalumab (>$100K CAD per dose). While the stock does look fundamentally cheap I had to throw it into the too hard pile even with my knowledge as a pharmacist. Between the royalty deals with Sanofi, the self-cannibalization of their Haemophilia A/B drugs, I wasn't able to get my circle of competence where I felt it needed to be (although I do feel a lot more knowledgeable on the rare diseases of the portfolio. Plan for Q4: -Continue investing $1000 per pay period and using the remainder after bills to pay down my mortgage. -Continue selling $BN in my Registered accounts to add to BIP/BEP/BAM, although I will wait until after the restructuring of BEP/BIP to do so. -With $WKL now passed my conservative DCF, it's not the screaming buy it was so I'll need to decide what to start adding to my portfolio, which right now I'm leaning towards $AMZN , $BN , $FVI , $TOU , or possibly a new position in $WSP after I'm done my analysis as I do believe the market is getting this one wrong and it looks quite good for valuation (thanks to the Canadian Investor Podcast and @stocktrades for bringing it back to my attention). I've posted pictures of my portfolio and my technical analysis on WKL. Please feel free to ask any questions. Happy Investing All!
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2 Comments
Oladisun
@stilldisun90 · 19d
Thanks! Am in $TOU and been looking at $AEM for a while now but my trading rules has kept me from entering at this time. Looking to buy once it clears though.
Beevis
@beevis · 19d
Thanks for sharing Michael! Here's my feedback: 1. 📌 Make your Brookfield bet explicit and sized by design 2. 🌾 Balance Canada & resource exposure vs global growth names 3. 🧩 Tighten your stock‑picking strategy vs ETF benchmarks Including my full thoughts below, shoot me a message if you wanna chat about it!
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