Portfolio 2

Below is the list of companies in Portfolio 2 as of September 30, 2026, along with charts showing how the portfolio is diversified by sector and market capitalization.

Portfolio 2 continues to be built around balance, with exposure across ten of the eleven sectors. Basic Materials is the only sector not represented. Energy and Technology remain the two largest allocations, adding growth potential to a portfolio otherwise anchored by a broad mix of companies. Financials and Communication Services also have meaningful roles, providing a combination of dividend income and long-term growth potential.

The portfolio also maintains significant exposure to more defensive areas such as Consumer Staples and Utilities. These companies tend to have more stable businesses and, in many cases, established records of growing their dividends. Together, these holdings provide a counterweight to the portfolio’s higher-growth positions, giving Portfolio 2 a more balanced profile that can participate in rising markets without relying as heavily on high-growth companies.

There were several changes during the third quarter, but they were largely about simplifying and strengthening existing positions rather than adding new companies. I consolidated my Brookfield Infrastructure holdings by moving Brookfield Infrastructure Corporation into Brookfield Infrastructure L.P. I also decided that I only needed one pipeline company in the portfolio, so I exited South Bow in favour of TC Energy. I added to several of my stronger-performing holdings, including iA Financial, Brookfield Infrastructure, TC Energy and Aritzia. Finally, I sold Supremex after deciding that the company was not performing as well as I had hoped and that the capital could be put to better use elsewhere..

 Activity during the third quarter of 2026:

Sold: Brookfield Infrastructure Corporation

Sold: South Bow Corporation

Bought: more iA Financial Corporation

Bought: more Brookfield Infrastructure L.P.

Bought: more TC Energy Corporation

Bought: more Aritzia shares

Sold: Supremex Inc.

Diversification

The graphs show the diversification of Portfolio 2 by sector and market capitalization, as of September 30, 2026. The sector graph shows the dollar value percentage of each sector in the portfolio as well of the number of companies in each sector.

The market capitalization graph shows the dollar value percentage by market capitalization classification as well as the number of companies in each classification.

Portfolio 2 Companies

Below is the list of the Portfolio 2 companies. Some you will recognize some you won't. Either way, I've included the company name, its trading symbol (also known as ticker), the currency used to purchase the shares, the gain or loss in share price since the shares were purchased (the average, in the case of multiple purchases), the total return (the gain or loss from the shares, plus any dividends) and the stock exchange it was purchased on. I have also shown what the company does, and why it was purchased (including how I categorize the company). In cases where a company's total return is greater than the gain or loss in share price, that is because the company pays a dividend.

Stocks traded on Canadian exchanges have the exchanges listed in red. Stocks traded on American exchanges have the exchanges listed in blue.

Company	Ticker	Currency	Share G/L %	Total Return %	Exchange	What they are	Why owned
MongoDB, Inc.	MDB	USD	676.58	676.58	Nasdaq Stock Market	Cloud based database platform	Growth: new type of database for modern data requirements; part of the move to the cloud; mf recommendation
Hammond Power Solutions Inc.	HPS.A	CAD	531.10	538.57	Toronto Stock Exchange	Manufactures electrical transformers for global market	Growth: Company is riding a major tailwind of electrical power, across diverse markets.
Guardant Health, Inc.	GH	USD	346.45	346.45	Nasdaq Stock Market	Cancer research	Growth: developing a solution for early detection of cancer remaining after surgery; diversification; MF recommendation
iA Financial Corporation Inc.	IAG	CAD	174.18	196.87	Toronto Stock Exchange	Insurance and wealth management	Core: slow and steady growth with a reliable and growing dividend.
Microsoft Corporation	MSFT	USD	160.68	166.25	Nasdaq Stock Market	Large software company	Core: strong leadership; dominant OS; productivity software; development software; cloud services; gaming
The Walt Disney Company	DIS	USD	115.51	135.77	New York Stock Exchange	Global entertainment company	Core: great optionality from operating in 4 different business areas; dividend (prior to pandemic); feels good to be an owner of Disney.
TC Energy Corporation	TRP	CAD	57.17	111.84	Toronto Stock Exchange	Energy infrastructure	Core: diversification; stable growth and stable, growing dividend
Fortis Inc.	FTS	CAD	69.30	104.80	Toronto Stock Exchange	Regional electric and gas utility	Core: stable utility; defensive holding to balance tech companies; decent dividend
Mitek Systems, Inc.	MITK	USD	88.39	88.39	Nasdaq Stock Market	Mobile image capture & ID verification	Growth: used by banking industry to extract info from cheque images; uses AI & machine learning to improve ID verification; MF recommendation
Canadian Natural Resources Limited	CNQ	CAD	70.08	83.10	Toronto Stock Exchange	Major oil and natural gas company	Income: strong global demand for oil and gas; leading producer; 4.5% dividend and growing
The Bank Of Nova Scotia	BNS	CAD	76.52	79.02	Toronto Stock Exchange	A big 6 Canadian bank	Core: banks always make money; growing and decent dividend
Tourmaline Oil Corporation	TOU	CAD	61.79	76.80	Toronto Stock Exchange	Natural gas producer	Income: received as part of Tourmaline's acquisition of Crew Energy.
Brookfield Infrastructure Partners LP	BIP.UN	CAD	38.52	72.56	Toronto Stock Exchange	Owns & operates last mile utiltity assets	Core: strong management; reliable, growing dividend; diversification
Take-Two Interactive Software, Inc.	TTWO	USD	65.36	65.36	Nasdaq Stock Market	Major consumer game developer	Growth: acquired shares when company bought Zynga; leading global game developer
Dollarama	DOL	CAD	54.86	56.48	Toronto Stock Exchange	Retail store	Growth: sales growing as inflatin and higher interest rates forcing consumers to cut back on expenses. Expanding into South America.
Whitecap Resources Inc.	WCP	CAD	40.89	49.24	Toronto Stock Exchange	Oil & gas producer	Income: strong operational performance and growth potential; monthly dividend over 7%
Airbnb, Inc	ABNB	USD	35.26	35.26	Nasdaq Stock Market	Connects guests and hosts for short term stays	Growth: take adavantage of increased travel, first mover in a disrupted travel industry.
Telus Corporation	T	CAD	-1.96	32.27	Toronto Stock Exchange	A big 3 Canadian telecommunications company	Growth: strong leadership; communications company branching out to health & agriculture industries; growing revenues and strong dividend;
SmartCentres REIT	SRU.UN	CAD	7.83	30.24	Toronto Stock Exchange	Commercial & residential REIT	Income: generate income from 7+% dividend; growth potential as it converts malls into towncentres.
Alimentation Couche-Tard Inc	ATD	CAD	15.39	20.47	Toronto Stock Exchange	Convenience store industry	Growth: good growth strategy; dividend; strong leadership; decent moat; growing sales; diversification; MF recommendation
Dream Industrial REIT	DIR.UN	CAD	6.60	19.39	Toronto Stock Exchange	Industrial REIT	Income: take advantage of growing warehouse demand; relatively stable
Brookfield Renewable Partners LP	BEP.UN	CAD	-23.61	-6.19	Toronto Stock Exchange	Owns & operates renewable energy assets	Growth: strong management; part of the green trend towards renewables; decent dividend
Aritzia Inc.	ATZ	CAD	-6.76	-6.76	Toronto Stock Exchange	Clothing manufacturer	Growth: fast growing women's luxury apparel, expanding across Canada and into the US.
Napco Security Technologies	SSC	USD	-14.29	-14.07	Nasdaq Stock Market	Builds high tech personal and commercial security systems	Growth: growing security demand with recurring revenue model
Birkenstock Holding PLC	BIRK	USD	-47.42	-47.42	New York Stock Exchange	Footwear manufacturer	Growth: strong brand name with loyal customers that has been around over 240 years; expanding into new markets.
Zoetis Inc.	ZTS	USD	-60.14	-58.92	New York Stock Exchange	Leading global animal health company	Growth: people are spending more and more money on pet and livestock care.