Insight into Chou RRSP Fund (Trades, Portfolio)'s Latest Portfolio Adjustments and Their Impact
Chou RRSP Fund (Trades, Portfolio), managed by Chou Associates Management Inc. since its inception on October 30, 1986, focuses on long-term capital growth through investments in primarily Canadian, as well as U.S. and foreign equities and debt instruments. The fund's value-oriented investment approach emphasizes detailed company analysis over market fluctuations, aiming for substantial returns by assessing financial health and growth potential. Historically, the fund has outperformed the S&P/TSX, showcasing a robust annual gain of 9.7% since inception compared to the S&P/TSX's 7.5%.
Summary of New Buys
Chou RRSP Fund (Trades, Portfolio) expanded its portfolio by adding three new stocks in the second quarter of 2024. The additions include:
- Morguard Corp (TSX:MRC, Financial) with 5,800 shares, making up 3.62% of the portfolio and valued at C$644,790.
- Trican Well Service Ltd (TSX:TCW, Financial) with 100,000 shares, representing 2.7% of the portfolio and valued at C$482,000.
- Imperial Oil Ltd (TSX:IMO, Financial) with 5,000 shares, accounting for 2.62% of the portfolio and valued at C$466,400.
Key Position Increases
The fund also increased its stakes in two companies:
- Reitmans (Canada) Ltd (TSXV:RET.A, Financial) saw an addition of 411,900 shares, bringing the total to 429,100 shares. This adjustment marks a 2,394.77% increase in share count and a 5.51% impact on the current portfolio, valued at C$1,023,400.
- Interfor Corp (TSX:IFP, Financial) with an additional 5,500 shares, bringing the total to 67,000. This represents an 8.94% increase in share count, valued at C$1,106,840.
Summary of Sold Out Positions
During the second quarter of 2024, Chou RRSP Fund (Trades, Portfolio) exited two positions:
- Bausch Health Companies Inc (TSX:BHC, Financial): The fund sold all 200,000 shares, resulting in an -11.22% impact on the portfolio.
- BlackBerry Ltd (TSX:BB, Financial): The fund liquidated all 312,900 shares, causing a -7.77% impact on the portfolio.
Portfolio Overview
As of the second quarter of 2024, Chou RRSP Fund (Trades, Portfolio)'s portfolio comprised 16 stocks. The top holdings included 20.41% in TWC Enterprises Ltd (TSX:TWC, Financial), 18.47% in EXCO Resources Inc (EXCE, Financial), 8.95% in Linamar Corp (TSX:LNR, Financial), 7.55% in Reitmans (Canada) Ltd (TSXV:RET, Financial), and 7.38% in Parex Resources Inc (TSX:PXT, Financial). The holdings are predominantly concentrated in six industries: Consumer Cyclical, Energy, Financial Services, Basic Materials, Real Estate, and Communication Services.
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.
