Portfolio 1

Below is the list of companies in Portfolio 1 as of September 30, 2026, along with charts showing how the portfolio is diversified by sector and market capitalization.

Portfolio 1 remains the most concentrated of my three portfolios, with a strong focus on large-cap technology companies. Seven of the top ten holdings are in Technology, led by Nvidia at roughly 26% of the portfolio, followed by CrowdStrike and Alphabet, the parent company of Google and several other businesses. Technology now accounts for just over 60% of the portfolio by dollar value, with the remainder spread across eight of the eleven sectors.

There are a couple of notable gaps, with no direct exposure to Healthcare or Utilities. Basic Materials is also absent at the individual-stock level, although a gold ETF provides some indirect exposure to the sector and adds diversification beyond technology.

From a market-cap perspective, the portfolio is dominated by mega- and large-cap companies. These established businesses can generally be less volatile than smaller companies, but that advantage can be overwhelmed by sector and company concentration. With more than 60% of the portfolio invested in Technology, a significant move in the sector can have a meaningful impact on the overall portfolio.

There was just one transaction during the third quarter. I sold my position in The Trade Desk as the company’s growth slowed significantly, with annual growth falling from more than 25% to the low teens. The company is also facing increasing competition from three mega-cap technology companies, while management changes and challenges with advertising agencies, its primary customers, added to my concerns about the investment.

 Activity during the third quarter of 2026:

Sold: The Trade Desk

Diversification

The graphs show the diversification of Portfolio 1 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 1

Below is the list of the Portfolio 1 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
Nvidia Corporation	NVDA	USD	5869.73	5879.00	Nasdaq Stock Market	Graphic processor & chip manufacturer	Core: Leading producer of graphic processor chips used in AI, big data, gaming, AR/VR computing; dividend
Tourmaline Oil Corporation	TOU	CAD	1944.81	2131.12	Toronto Stock Exchange	Natural gas producer	Income: Received as part of Tourmaline's acquisition of Crew Energy.
Celestica Inc.	CLS	CAD	700.31	700.31	Toronto Stock Exchange	Provide supply chain solutions to manufacturing and technology industries.	Growth: Solving logistical problems in growing industries such as cloud computing, communications, and aerospace.
Lattice Semiconductor Corporation	LSCC	USD	475.52	475.52	Nasdaq Stock Market	Semiconductor manufacturer	Growth: Provides semiconductors for a variety of industries
International Petroleum Corporation	IPCO	CAD	367.56	367.56	Toronto Stock Exchange	Oil & gas producer	Growth: Take advantage of growing prices, and increased demand for oil and gas during the winter season.
Crowdstrike Holdings, Inc.	CRWD	USD	360.42	360.42	Nasdaq Stock Market	Cybersecurity company	Growth: Cloud delivered security solutions to endpoints; part of 2 trends - cybersecurity & cloud based
Cloudflare, Inc.	NET	USD	233.83	233.83	New York Stock Exchange	Cybersecurity company	Growth: Enhanced security and performance for companies of all sizes.
Datadog, Inc.	DDOG	USD	224.43	224.43	Nasdaq Stock Market	Monitoring & analytics platform for IT platforms	Growth: As more companies rely on IT there is a growing need to be able to monitor and analyze those systems; part of cloud based Software as a Service trend
Apple Inc.	AAPL	USD	187.21	190.14	Nasdaq Stock Market	Consumer tech products & services	Core: A mega cap tech company with tremendous customer loyalty; great cash generator; dividend
Cameco Corporation	CCO	CAD	180.33	181.50	Toronto Stock Exchange	Uranium miner and supplier	Growth: Ride tailwind of transition to cleaner energy sources.
Hammond Power Solutions Inc.	HPS.A	CAD	169.14	172.04	Toronto Stock Exchange	Manufactures electrical transformers for global market	Growth: Company is riding a major tailwind of electrical power, across diverse markets.
Alphabet Inc.	GOOGL	USD	162.69	164.74	Nasdaq Stock Market	Holding company for Google	Growth: Market leader in online search, streaming video (YoutTube), mobile OS (Android)
Magnite, Inc.	MGNI	USD	156.25	156.25	Nasdaq Stock Market	Digital advertsing on the Sell side	Growth: Growing market for digital advertising; compliment to Trade Desk
TMX Group Limited	X	CAD	138.08	155.25	Toronto Stock Exchange	Owns & operates the TSX	Income: Diversification into financial sector; steady Growth: dividend
Yellow Pages Limited	Y	CAD	-5.80	135.88	Toronto Stock Exchange	Digital advertising & marketing	Income: A take out target of a similar larger US based company; dividend; MF recommendation
The Toronto-Dominion Bank	TD	CAD	121.31	132.56	Toronto Stock Exchange	A big 6 Canadian bank	Core: Banks always make money; growing and decent dividend; provides diversification into financials
Shopify	SHOP	CAD	128.35	128.35	Toronto Stock Exchange	E-commerce platform	Growth: Dominat global e-commerce platform; started as a growth investment but has become a core holding
Interactive Brokers	IBKR	USD	122.69	123.56	Nasdaq Stock Market	Global online brokerage	Growth: Most popular online brokerage firm, trades in over 36 countries on 160 stock exchanges. Consistently growing number of users and revenues.
The Bank Of Nova Scotia	BNS	USD	78.68	92.31	New York Stock Exchange	A big 6 Canadian bank	Core: Banks always make money, growing and decent dividend
Visa Inc.	V	USD	55.57	60.16	New York Stock Exchange	Payments technology company	Core: The leader in the payments technology industry; part of the shift from cash to digital payments; dividend
Amazon.com	AMZN	USD	54.59	54.59	Nasdaq Stock Market	E-commerce, cloud computing, streaming, AI, advertising	Growth: Leader in e-commere, leader in cloud computing. Share price beaten down.
BSR REIT	HOM.U	USD	25.70	53.29	Toronto Stock Exchange	SW US housing rental REIT	Income: diversification to real estate housing market; dividend; MF recommendation
Costco Wholesale	COST	USD	50.22	52.63	Nasdaq Stock Market	Global chain of membership warehouses	Growth: Every warehouse I've ever been to has been packed, even during th pandemic. Strong defensive stock.
Walmart Inc.	WMT	USD	43.61	49.02	New York Stock Exchange	Omnichannel retailer	Core: One of the largest, leading global retailers. Preparing to move more into e-commerce field, providing upside potential
Pulse Seismic Inc.	PSD	CAD	22.50	48.29	Toronto Stock Exchange	Oil & gas supplier	Growth: Take advantage of growth in the oil & natural gas industry.
CN Railway Company	CNR	CAD	23.93	45.28	Toronto Stock Exchange	Canadian rail company	Core: Largest railway system in N America; goods need to get moved across North America; diversification into Industrials;
Carnival Corp.	CCL	USD	41.45	43.51	New York Stock Exchange	Cruise Lines	Growth: Largest cruise line in the world. Undervalued with 50% upside.
Atlanta Braves Holdings, Inc.	BATRK	USD	41.93	41.93	Nasdaq Stock Market	Own Atlanta Braves baseball team	Growth: Spin off from Liberty Media F1 Racing
Berkshire Hathaway Inc.	BRK.B	USD	40.36	40.36	New York Stock Exchange	Conglomerate	Core: The best performing stock in last 50 years; provides diversity across major US companies.
Arista Networks	ANET	USD	35.09	35.09	Nasdaq Stock Market	A leader in networking services and solutions	Growth: riding the tailwinds of cloud computing and artificial intelligence
Trisura Group Ltd.	TSU	CAD	35.07	35.07	Toronto Stock Exchange	Specialty insurance provider	Growth: Brookfield spin off; strong management; provides diversification into financial sector; steady Growth: MF recommendation
Formula 1 Group (Liberty Group)	FWONK	USD	29.51	29.51	Nasdaq Stock Market	Global rights holder for F1 racing circuit	Growth: Tremendous growth in the popularity of F1 racing. tremendous growth in revenue, income and cash flow.
Kraken Robotics Inc.	PNG	CAD	25.48	25.48	Toronto Stock Exchange	Canadian underwater marine technolgy company	Growth: A leader in underwater sensors, robotics, and batteries that are in high demand for commercial and military tasks.
Dream Industrial REIT	DIR.UN	CAD	10.68	23.43	TSX Venture Exchange	Manages industrial properties throughout the world	Income: Increasing number of properties in North America, expanding into Europe; 5.8% dividend
Navitas Semiconductor	NVTS	USD	21.89	21.89	Nasdaq Stock Market	Semiconductor manufacturer	Growth: Develops chips using galium nitride to build more powerful, energy efficient chips
Telus Corporation	T	CAD	-43.08	18.53	Toronto Stock Exchange	A big 3 Canadian telecommunications company	Growth: Defensive tech company; strong leadership; communications company branching out to health & agriculture industries; growing revenues and strong dividend;
Ferrari NV	RACE	USD	12.04	13.02	New York Stock Exchange	Designer and builder of exotic sports cars	Growth: Wide moat due to brand recognition; high revenues, income and margins; expanding into new markets
The Home Depot, Inc.	HD	USD	-3.50	6.64	New York Stock Exchange	Home improvement retailer	Core: One of the first places people think of for home improvement products;
Decisive Dividend	DE	CAD	0.39	5.28	Toronto Stock Exchange	Acquistion oriented manufacturing company	Income: Small cap company that has upside growth potential through acquisitions while paying a 6% dividend.
iShares S&P/TSX Global Gold Index ETF	XGD	CAD	-7.95	-7.57	Toronto Stock Exchange	Exposure to global gold companies via ETF	Growth: catch the gold tailwinds and add diversification
Grab Holdings	GRAB	USD	-8.04	-8.04	Nasdaq Stock Market	Dominant and growing mobility company in SE Asia	Growth: The Uber of SE Asia, with growing revenue from multiple streams, including financial services. Founder led.
Constellation Software	CSU	CAD	-13.11	-13.02	Toronto Stock Exchange	Vertical market software provider	Growth: Bought on a dip, confident company dip is temporary and will resume as one of top performing software companies.
Sea Limited	SE	USD	-22.09	-22.09	New York Stock Exchange	Consumer internet company	Growth: Involved in digital entertainment, e-commerce, and digital financial services through an integrated platform (3 hot trends); profitable entertainment side funds the growth of the other 2 businesses.
Celsius Holdings, Inc.	CELH	USD	-29.31	-29.31	Nasdaq Stock Market	Energy & health drinks	Growth: New, fast growing health drinks similar to Monster; diversification to consumer defensive sector.
BCE Inc	BCE	CAD	-47.44	-36.60	Toronto Stock Exchange	A big 3 Canadian telecommunications company	Income: Defensive tech/communications company; strong dividend;
Kelly Partners Group Holdings Limited	KPGHF	USD	-44.54	-44.54	Over the Counter Markets	Australian accounting firm	Growth: Australian accounting firm that has grown through acquisition, expanding into US and other English speak ing countries.