Portfolio 2

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

Portfolio 2 is built around balance, with exposure across all eleven sectors through at least one holding in each. That broad diversification provides a solid foundation, while larger allocations to Energy and Technology add a growth engine within the mix. Financials and Communication Services also play an important role, contributing a combination of dividend income and long-term growth potential.

At the same time, the portfolio leans on more defensive sectors such as Consumer Staples and Utilities. These companies typically hold up better during periods of market uncertainty, helping to smooth volatility while continuing to generate a steady and growing stream of dividend income. The result is a portfolio that aims to participate in rising markets, while still maintaining a level of stability when conditions are less favourable.

There were only a few changes during the second quarter. I added selectively to several high-conviction holdings while trimming my largest position after it grew to more than 40% of the portfolio. I also reduced my position in a company that has struggled over the past few years, but chose to maintain it due to its ongoing dividend contribution. Based on my original cost, that dividend currently represents roughly an 11% yield on invested capital. That’s a good reminder that strong long-term investments aren’t always defined by share price performance alone – sometimes they’re the ones that continue to quietly generate income year after year.

 Activity during the second quarter of 2026:

Sold: some Bank of Nova Scotia shares

Bought: more Aritzia shares

Sold: some Telus shares

Bought: more Whitecap Resources shares

Diversification

The graphs show the diversification of Portfolio 2 by sector and market capitalization, as of June 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
Hammond Power Solutions Inc.	HPS.A	CAD	675.88	682.70	Toronto Stock Exchange	Manufactures electrical transformers for global market	Growth: Company is riding a major tailwind of electrical power, across diverse markets.
MongoDB, Inc.	MDB	USD	648.27	648.27	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
Guardant Health, Inc.	GH	USD	275.54	275.54	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	164.52	185.36	Toronto Stock Exchange	Insurance and wealth management	Core: slow and steady growth with a reliable and growing dividend.
TC Energy Corporation	TRP	CAD	79.16	132.16	Toronto Stock Exchange	Energy infrastructure	Core: diversification; stable growth and stable, growing dividend
Mitek Systems, Inc.	MITK	USD	122.43	122.43	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
Fortis Inc.	FTS	CAD	82.99	118.49	Toronto Stock Exchange	Regional electric and gas utility	Core: stable utility; defensive holding to balance tech companies; decent dividend
The Walt Disney Company	DIS	USD	97.72	116.24	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.
South Bow Corporation	SOBO	CAD	92.67	108.60	Toronto Stock Exchange	Liquids pipelines operator	Income: Acquired as part of a split of TC Energy in 2024. They operate a network of liquids pipelines that connect western Canadian crude oil to the US markets.
Take-Two Interactive Software, Inc.	TTWO	USD	99.21	99.21	Nasdaq Stock Market	Major consumer game developer	Growth: acquired shares when company bought Zynga; leading global game developer
Microsoft Corporation	MSFT	USD	89.59	94.88	Nasdaq Stock Market	Large software company	Core: strong leadership; dominant OS; productivity software; development software; cloud services; gaming
Brookfield Infrastructure Corporation	BIPC	CAD	51.83	85.38	Toronto Stock Exchange	Owns & operates last mile utiltity assets	Core: same as BIP.UN: strong management; reliable, growing dividend; diversification
Brookfield Infrastructure Partners LP	BIP.UN	CAD	42.95	77.28	Toronto Stock Exchange	Owns & operates last mile utiltity assets	Core: strong management; reliable, growing dividend; diversification
The Bank Of Nova Scotia	BNS	CAD	70.00	72.47	Toronto Stock Exchange	A big 6 Canadian bank	Core: banks always make money; growing and decent dividend
Tourmaline Oil Corporation	TOU	CAD	57.54	71.22	Toronto Stock Exchange	Natural gas producer	Income: received as part of Tourmaline's acquisition of Crew Energy.
Dollarama	DOL	CAD	57.91	59.31	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.
Canadian Natural Resources Limited	CNQ	CAD	43.23	56.24	Toronto Stock Exchange	Major oil and natural gas company	Income: strong global demand for oil and gas; leading producer; 4.5% dividend and growing
Telus Corporation	T	CAD	16.73	49.77	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	22.36	42.90	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	34.62	39.05	Toronto Stock Exchange	Convenience store industry	Growth: good growth strategy; dividend; strong leadership; decent moat; growing sales; diversification; MF recommendation
Aritzia Inc.	ATZ	CAD	32.17	32.17	Toronto Stock Exchange	Clothing manufacturer	Growth: fast growing women's luxury apparel, expanding across Canada and into the US.
Dream Industrial REIT	DIR.UN	CAD	17.07	29.41	Toronto Stock Exchange	Industrial REIT	Income: take advantage of growing warehouse demand; relatively stable
Whitecap Resources Inc.	WCP	CAD	17.98	23.43	Toronto Stock Exchange	Oil & gas producer	Income: strong operational performance and growth potential; monthly dividend over 7%
Supremex	SXP	USD	-1.59	23.33	Toronto Stock Exchange	Builds and sells packaging solutions globally	Income: provides diversification; steady growth as all products need packaging; decent divident
Airbnb, Inc	ABNB	USD	20.48	20.48	Nasdaq Stock Market	Connects guests and hosts for short term stays	Growth: take adavantage of increased travel, first mover in a disrupted travel industry.
Brookfield Renewable Partners LP	BEP.UN	CAD	-6.27	10.11	Toronto Stock Exchange	Owns & operates renewable energy assets	Growth: strong management; part of the green trend towards renewables; decent dividend
Napco Security Technologies	SSC	USD	-8.61	-8.61	Nasdaq Stock Market	Builds high tech personal and commercial security systems	Growth: growing security demand with recurring revenue model
Birkenstock Holding PLC	BIRK	USD	-30.19	-30.19	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	-58.99	-57.94	New York Stock Exchange	Leading global animal health company	Growth: people are spending more and more money on pet and livestock care.