Insight into Leith Wheeler Canadian Equity (Trades, Portfolio)'s Q4 2023 Investment Moves
Leith Wheeler Canadian Equity (Trades, Portfolio), known for its disciplined value investing approach, has reported its fourth quarter moves for 2023. Since its inception on April 27, 1994, the fund has been steadfast in its mission to deliver superior long-term returns by investing in a diverse array of Canadian equities. The team of seasoned investment professionals at Leith Wheeler Canadian Equity (Trades, Portfolio) is celebrated for their extensive knowledge and experience, employing fundamental research with a pronounced value inclination. They seek out undervalued companies that have fallen out of market favor due to various factors, such as investor neglect, industry-wide disfavor, or temporary setbacks deemed surmountable by the fund's rigorous analysis.
Key Position Increases
During the quarter, Leith Wheeler Canadian Equity (Trades, Portfolio) augmented its stakes in 14 stocks. Noteworthy increases include:
- A substantial addition to TMX Group Ltd (TSX:X, Financial), with 841,700 more shares, bringing the total to 1,572,700 shares. This move marks a significant 115.14% increase in share count and a 0.67% impact on the current portfolio, valued at C$50,405,000.
- The fund also significantly increased its position in Definity Financial Corp (TSX:DFY, Financial) by 694,630 shares, resulting in a total of 1,682,380 shares. This adjustment reflects a 70.32% increase in share count, with a total value of C$63,157,000.
Summary of Sold Out Positions
Leith Wheeler Canadian Equity (Trades, Portfolio) liquidated its entire stake in one company:
- The fund sold all 2,117,570 shares of First Quantum Minerals Ltd (TSX:FM, Financial), impacting the portfolio by -1.7%.
Key Position Reductions
The fund also pared down its holdings in 26 stocks, with significant reductions in:
- The Toronto-Dominion Bank (TSX:TD, Financial) by 390,335 shares, leading to a -14.92% decrease in shares and a -0.82% portfolio impact. The stock's average trading price was C$81.61 during the quarter, with a -3.93% return over the past three months and -4.66% year-to-date.
- Constellation Software Inc (TSX:CSU, Financial) by 11,293 shares, resulting in a -14.7% reduction in shares and a -0.79% impact on the portfolio. The stock traded at an average price of C$2,893.71 during the quarter, returning 8.70% over the past three months and 9.28% year-to-date.
Portfolio Overview
As of the fourth quarter of 2023, Leith Wheeler Canadian Equity (Trades, Portfolio)'s portfolio comprised 40 stocks. The top holdings included 6.69% in Royal Bank of Canada (TSX:RY, Financial), 6.57% in Toromont Industries Ltd (TSX:TIH, Financial), 5.37% in Constellation Software Inc (TSX:CSU), 5.35% in Canadian National Railway Co (TSX:CNR, Financial), and 4.75% in The Toronto-Dominion Bank (TSX:TD). The fund's investments are predominantly concentrated across 10 industries, spanning Financial Services, Industrials, Technology, Energy, Utilities, Consumer Defensive, Basic Materials, Communication Services, Consumer Cyclical, and Real Estate.
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.
