Yahoo Finance AltaGas Ltd Soars as Mawer Canadian Equity Fund Increases Stake by Over 1000%
Insightful 13F Filing Update: Mawer Canadian Equity Fund (Trades, Portfolio)'s Q4 2023 Investment Moves
Mawer Canadian Equity Fund (Trades, Portfolio), known for its disciplined investment approach in larger capitalization Canadian companies, has revealed its fourth quarter moves for 2023. The fund, which is designed for investors seeking long-term growth and can handle equity volatility, focuses on wealth-creating companies with strong management teams, purchasing these at discounts to their intrinsic values. The fund's strategy involves a research-driven, bottom-up process, and it maintains a long-term holding period to optimize investor returns and minimize transaction costs.
Summary of New Buys
Mawer Canadian Equity Fund (Trades, Portfolio) expanded its portfolio with 5 new stock additions, including:
Intact Financial Corp (TSX:IFC), acquiring 452,126 shares, which now represent 2.61% of the portfolio, valued at C$92.17 million.
Restaurant Brands International Inc (TSX:QSR), with 602,600 shares, making up about 1.77% of the portfolio, valued at C$62.39 million.
Stella-Jones Inc (TSX:SJ), adding 433,224 shares, accounting for 0.95% of the portfolio, valued at C$33.41 million.
Key Position Increases
The fund also significantly increased its stakes in 10 stocks, with the most noteworthy being:
AltaGas Ltd (TSX:ALA), where the fund boosted its holding by an additional 3,661,827 shares, bringing the total to 4,012,234 shares. This represents a staggering 1045.02% increase in share count and a 2.88% impact on the current portfolio, valued at C$111.62 million.
RB Global Inc (TSX:RBA), with an additional 289,100 shares, increasing the total to 937,300 shares. This adjustment marks a 44.6% increase in share count, valued at C$83.11 million.
Summary of Sold Out Positions
The fund completely exited 4 holdings in the fourth quarter of 2023, including:
BCE Inc (TSX:BCE), selling all 1,360,018 shares, which had a -2.24% impact on the portfolio.
Enbridge Inc (TSX:ENB), liquidating all 898,588 shares, resulting in a -1.21% impact on the portfolio.
Key Position Reductions
Reductions were made in 27 stocks, with significant changes in:
Bank of Montreal (TSX:BMO), reduced by 364,640 shares, leading to a -28.85% decrease in shares and a -1.19% impact on the portfolio. The stock traded at an average price of C$115.82 during the quarter.
Suncor Energy Inc (TSX:SU), cut by 1,021,800 shares, resulting in a -33.22% reduction in shares and a -1.08% impact on the portfolio. The stock had a robust return of 17.94% over the past 3 months.
Portfolio Overview
As of the end of Q4 2023, Mawer Canadian Equity Fund (Trades, Portfolio)'s portfolio consisted of 42 stocks, with top holdings including 5.38% in Royal Bank of Canada (TSX:RY), 4.76% in Canadian Natural Resources Ltd (TSX:CNQ), and 4.66% in The Toronto-Dominion Bank (TSX:TD). The fund's investments are mainly concentrated across 10 industries, reflecting a diverse approach to sector allocation.
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.
This article first appeared on GuruFocus.
