Mawer Canadian Equity Fund (Trades, Portfolio) recently submitted its report for the fourth quarter of 2024, shedding light on its strategic investment decisions during this period. The fund primarily targets larger capitalization Canadian companies, occasionally utilizing treasury bills or short-term investments with maturities not exceeding three years. It is designed for investors seeking long-term, above-average growth and who can tolerate moderate to high equity volatility. The fund’s portfolio manager employs a disciplined, research-driven, bottom-up approach, focusing on acquiring wealth-creating companies with strong management at discounts to their intrinsic values. This strategy aims to minimize transaction costs while allowing for investor recognition or corporate growth over a long-term holding period.
Mawer Canadian Equity Fund (Trades, Portfolio) added a total of one stock, with the most significant addition being Shopify Inc (TSX:SHOP). The fund acquired 769,700 shares, which now account for 3.23% of the portfolio, with a total value of C$117.76 million.
Mawer Canadian Equity Fund (Trades, Portfolio) also increased stakes in a total of 13 stocks. Notably, the fund increased its position in Nutrien Ltd (TSX:NTR) by 455,900 shares, bringing the total to 1,246,300 shares. This adjustment represents a significant 57.68% increase in share count, impacting the portfolio by 0.8%, with a total value of C$80,162,020. The second largest increase was in Canadian Pacific Kansas City Ltd (TSX:CP), with an additional 265,900 shares, bringing the total to 1,385,426. This adjustment represents a 23.75% increase in share count, with a total value of C$144,195,140.
Mawer Canadian Equity Fund (Trades, Portfolio) completely exited three holdings in the fourth quarter of 2024, as detailed below:
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Saputo Inc (TSX:SAP): The fund sold all 1,691,672 shares, resulting in a -1.51% impact on the portfolio.
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TELUS International (Cda) Inc (TSX:TIXT): The fund liquidated all 2,199,111 shares, causing a -0.51% impact on the portfolio.
Mawer Canadian Equity Fund (Trades, Portfolio) also reduced its position in 27 stocks. The most significant changes include:
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Reduced Loblaw Companies Ltd (TSX:L) by 240,800 shares, resulting in a -28.5% decrease in shares and a -1.11% impact on the portfolio. The stock traded at an average price of C$176.78 during the quarter and has returned 1.15% over the past three months and 2.16% year-to-date.
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Reduced Alimentation Couche-Tard Inc (TSX:ATD) by 423,000 shares, resulting in a -27.85% reduction in shares and a -0.94% impact on the portfolio. The stock traded at an average price of C$78.3 during the quarter and has returned -13.04% over the past three months and -12.09% year-to-date.
