Investment Q&A

Q: I have small positions in these stocks and I'm also overweight in Canadian stocks, so considering raising some cash to invest in U.S. and/or international stocks.

Please rate these in terms of whether to hold (and, if so, how much patience might be
needed) or sell.

Q: Good day everyone. My holding in the following companies represent 25.11% of my investment portfolio across 3 registered and 1 cash account:
BN 5.00 %
BAM 2.36 %
BIPC 2.22 %
BIP.UN 1.35 %
BEPC 1.25%
For a total of 12.18 % amongst the Brookfield group of companies

CSU 5.49 %
TOI 1.81 %
LMN 1.40 %
For 8.7 % in CSU and associated companies

MLF 4.23 %

Collectively these holdings represent about 25.11 % of my holdings at the end of the 3Q.

I understand that your services are not to give personal advice but would value and appreciate your opinion on the weighing of these investments, specifically in the Brookfield group. The portfolio has done reasonably well (thanks fot 5i) but don't want to get complacent.

Much appreciated.

Q: Over the past 5 yrs these stocks have done quite well - thank you. (Except BYD).

My portfolio has grown but these are small % and need a top up to have a meaningful impact.

Looking ahead 3-5 yrs could you rank these on moat strength and which would be best to buy now?

Thank you

Q: For my 6yr old daughter's RESP I hold 50% in XBAL and ~12.5% in the 4 securities listed. When I make my next contribution I am looking to add another position.

Given a 10 year timeframe before the funds are needed what are some names that you would consider to complement the existing holdings?

Q: Hello 5i team! I think I saw something like this a couple months ago, but if we talk about the Constellation team, what would your ranking of these three stocks be today, please? Thank you.

Q: I owned GIB.A, DSG,TOI,LMN,NVDA,DCBO and would like to know if there is an overlap between any of these stocks or do they have their own unique business so all should be owned? I am trying to decide if I should reduce the numbers of tech stocks as I currently have 27 stocks and have read that best to have around 20-25 stocks.

Thanks

Q: Hello,

You run a very interesting service! Thank you!
Please recommend which positions you would add to, at today prices, in descending order (most preferred to least preferred) (thank you Ahn for the question format).

Q: Recent answer to question from Rajeev regarding Lumine lagging Topicus... part of your response... "LMN is now currently cheaper on valuation. We think $130 makes sense for TOI and $33 for LMN. "

What valuation are you using here for LMN being cheaper?

Q: I was happy to learn recently that TD now offers partial share purchases which I think is a great way to afford buying a company like CSU considering its 4000+ cost. I have a small amount to invest and was considering buying a partial share of CSU. At this point in time, considering current valuations and the potential for long term capital growth, would your preference be CSU or one of other Constellation spin offs LMN or TOI. Please explain why you would choose one over the other two. I intend to make this stock purchase within a TFSA. Many thanks for the for the great service that you provide.

Q: Hello,

Topicus, lately is showing solid momentum, with stock hitting an all time high, Today. On the other hand, Lumine has lagged behind, specially after the recent results. Do you believe that this divergence in stocks behaviour is temporary or it is signalling any longer term concerns for the latter ?

Also, based on their current valuation, does it make one more attractive than the other . in the near term and what would be the price points to accumulate ?

Thank You

Q: Hello,

We are retired investors and own all three names in the group, with CSU - 13.5%, LMN - 4% and TOI - 3.5% weights. SHOP is the only other Canadian Tech at 5.5%, in addition to US Large caps tech holdings at 7%. So Technology sector is >30% of our combined portfolios. There is enough income through dividends and pensions.

Despite trimming CSU by more than 50%, over past several years, its weight continues to grow. ( Great !! )

1. Do you consider > 30% Tech holdings reasonable as a sector allocation, TODAY, for an investor ( with moderate to high risk tolerance ). If not, in what order would you trim ?

2. Would you be comfortable with 20% of portfolio allocated to Constellation Software family, more specifically 13-15% to CSU and what would be your high watermark for its weight. ( We particularly like CSU for its steady Eddie profile and prospects of more spin offs)

Thank You

Q: Lot of people seem interested in TVK, current valuation, and if it's worth starting a position. Could you please answer the same for BN and TOI? Given current prices, what would be a good entry point price in your view? Thank you again!

Q: Sorry for the bother but if you google primeur group it was acquired by TSS on Sept 3 and Firstklas by Toi on Sept 2, Looks to be under the radar acquisItions by TOI.

THX

Q: Retired relying on DB pension. In small cap growth oriented TFSA holding PMZ now above ACB so it is on sell list. Dilemma: where to add the funds to above list of existing TFSA holdings? How would 5i rank existing holdings in terms of probability of highest growth in next 2 to 3 years?

Q: TOI was spun out of CSU around 4 years ago, with the goal of having a smaller and faster growing company. Since the spinoff, both companies have done very well, yet CSU has outperformed. Do you think that the spinoff thesis is still intact? Or is it too early to make this call?

Thanks.

Q: I hold all 3 companies and have been doing really well with CSU. The other 2 LMN and TOI have been a roller coaster, especially LMN. Luckily, both positions are very small in comparison to CSU (phew!!)
CSU - current price $4142 ish.
LMN - current price $33 ish
TOI - current price $130 ish.
Please recommend in which order you would add to, at today's prices (most preferred to least preferred). All are long term plays. Thank you very much.

Q: Any stocks you see that have strong fundamentals and show some god technicals as well ?

Q: Any reason why Topicus just seems to maintain close to highs as the market corrects? I want to add to it but it isn’t easy here. Should I just give up and buy in or wait further?

Q: Hi,
After carefully curating the Q&A over a period of time and posting questions, I put together these companies as my own personal 5i Small cap fund!
As of today this is where I stand:

GSY negative 8%;
LMN negative 11%;

HPS.A Positive 1.5%;
PAY Positive 7%;
PRL Positive 1.5%
TOI Positive 5.3%.

On the whole in terms of raw numbers, it is still positive.


For the new monies, would you add to these positions or suggest another small cap equity.
IF you were to add to these existing positions, in which order would you add.
I am a patient guy and willing to wait for a while. I was with you holding Knight Therapeutics for a long time! (Negative)
Also with you in energy sector (Positive) So, I know how this goes.

Thanks for all your answers.

Q: Blake on September 7th ask about valuations for CSU, LMN and TOI. If you inherited $10,000 and had to invest it by Monday evening, how would you allocate or split the difference between these three stocks?!? The usual thinking ahead three to five years. Thank you for what looks like a fine service!