BCV Asset Management portfolio

What changed this quarter

99 positions with a change (10 new, 32 added to, 43 trimmed, 14 sold). 12 are listed here: those of 0.5 points of the portfolio or more (up to 12).

• Ares Management+1.7 ppof portfolioNew
  — → 1.7%
• Canadian Imperial Bank of Commerce−52%fewer sharesReduced
  2.6% → 1.3%
• Bank of America−96%fewer sharesReduced
  1.5% → 0.1%
• Thomson Reuters−1.2 ppof portfolioSold out
  1.3% → —
• Boyd Group Services−1.1 ppof portfolioSold out
  1.3% → —
• Applied Materials−25%fewer sharesReduced
  2.5% → 3.4%
• TFI International+3,231%more sharesIncreased
  under 0.1% → 1.2%
• Marvell Technology−22%fewer sharesReduced
  1.8% → 3.5%
• McDONALD’S+0.9 ppof portfolioNew
  — → 0.9%
• Accenture−99%fewer sharesReduced
  1.4% → under 0.1%
• Danaher+70%more sharesIncreased
  1.2% → 1.9%
• HCA Healthcare−41%fewer sharesReduced
  2.0% → 0.9%

The figure on the right: for positions added to or trimmed, the change in the number of shares (%); for new and sold ones, the points of the portfolio moved (pp). Below, the portfolio weight before → after. Traded weight?: what it bought or sold, excluding price effects.

Top holdings

• HumanaHUM5.2%
• Royal Bank of CanadaRY4.8%
• BrookfieldBN4.7%
• AlphabetGOOGL · GOOG4.3%
• Marvell TechnologyMRVL3.5%
• Bank of MontrealBMO3.4%
• Applied MaterialsAMAT3.4%
• Eli LillyLLY3.0%
• Canadian Pacific Kansas CityCP2.9%
• Texas InstrumentsTXN2.6%
• SunococorpSUNC2.6%
• MicrosoftMSFT2.5%
• AbbVieABBV2.5%
• Gildan ActivewearGIL2.3%
• Waste ConnectionsWCN2.3%
• Union PacificUNP2.3%
• ASML HoldingASML2.3%
• Pembina PipelinePBA2.2%
• StantecSTN2.2%
• FirstServiceFSV2.2%
• VisaV2.1%
• Sun Life FinancialSLF2.0%
• Canadian Natural ResourcesCNQ2.0%
• UnitedHealth GroupUNH2.0%
• DeereDE1.9%
• Magna InternationalMGA1.9%
• DanaherDHR1.9%
• Nextera EnergyNEE1.8%
• Bank of Nova ScotiaBNS1.7%
• ARES ManagementARES1.7%
• Canadian Imperial Bank of CommerceCM1.3%
• TFI InternationalTFII1.2%
• Canadian National RailwayCNI1.0%
• McDONALD’SMCD0.9%
• Avery DennisonAVY0.9%
• HCA HealthcareHCA0.9%
• Berkshire HathawayBRK/B · BRK/A0.8%
• PrologisPLD0.8%
• Thermo Fisher ScientificTMO0.8%
• Amazon.comAMZN0.7%
• TJXTJX0.7%
• Suncor EnergySU0.6%
• CRH publicCRH0.6%
• Ferguson EnterprisesFERG0.6%
• EMCOR GroupEME0.5%
• ServiceNowNOW0.5%
• SynopsysSNPS0.5%
• Owens CorningOC0.5%
• Qnity ElectronicsQ0.4%
• Agnico Eagle MinesAEM0.3%
• Old Dominion Freight LineODFL0.3%
• Walt DisneyDIS0.3%
• Constellation EnergyCEG0.3%
• Molina HealthcareMOH0.3%
• Booking HoldingsBKNG0.2%
• Intuitive SurgicalISRG0.2%
• Markel GroupMKL0.2%
• Toronto Dominion BankTD0.2%
• AppleAAPL0.2%
• FortisFTS0.2%
• AXON EnterpriseAXON0.2%
• TC EnergyTRP0.2%
• EnbridgeENB0.2%
• CVS HealthCVS0.2%
• Cenovus EnergyCVE0.2%
• South BOWSOBO0.2%
• Barrick MiningB0.1%
• Manulife FinancialMFC0.1%
• Analog DevicesADI0.1%
• Vistra OperationsVST0.1%
• American ExpressAXP0.1%
• BCEBCE0.1%
• Brookfield Renewable PartnersBEP0.1%
• JPMorgan ChaseJPM0.1%
• NVIDIANVDA0.1%
• Bank of AmericaBAC0.1%
• Vodafone Group PublicVOD0.1%
• D.R. HortonDHIunder 0.1%
• Brookfield Asset ManagementBAMunder 0.1%
• RTXRTXunder 0.1%
• Sprott Asset ManagementPSLVunder 0.1%
• Eldorado GoldEGOunder 0.1%
• General DynamicsGDunder 0.1%
• FedExFDXunder 0.1%
• TelusTUunder 0.1%
• State Street Technology Select Sector ETFXLKunder 0.1%
• Algonquin Power & UtilitiesAQNunder 0.1%
• Advanced Micro DevicesAMDunder 0.1%
• Costco WholesaleCOSTunder 0.1%
• Home DepotHDunder 0.1%
• Micron TechnologyMUunder 0.1%
• iShares Core 60/40 Balanced ETFAORunder 0.1%
• Johnson & JohnsonJNJunder 0.1%
• PhotronicsPLABunder 0.1%
• Imperial OilIMOunder 0.1%
• AccentureACNunder 0.1%
• SPDR Gold Shares ETFGLDunder 0.1%
• Best BuyBBYunder 0.1%