In 2016, I made a life-changing decision by taking a sabbatical, relocating my family into a compact RV, and traveling to Costa Rica. When I returned in 2017, I officially resigned from my position as a private banker at National Bank to concentrate on Dividend Stocks Rock full-time. I also chose to oversee my pension account at National Bank, establishing a public portfolio to act as a real-world case study, investing entirely in dividend growth stocks.
In August 2017, I received $108,760.02 in a locked retirement account, preventing additional contributions, with growth relying solely on capital gains and dividends. My objective in sharing the monthly results of the portfolio is to offer insights into my management strategies, showcasing both achievements and obstacles.
Starting an Official Position
I indicated that I would utilize dividends to acquire more shares in my portfolio, beginning with Dollarama as a safeguard against a potential recession. Although we have yet to enter a recession, Dollarama has performed admirably. I will elaborate on this after reviewing the portfolio results.
Performance Overview
As of July 3rd, 2025 (pre-market):
Initial investment in September 2017 (no additional capital): $108,760.02.
Current portfolio value: $299,398.64
Dividends received: $5,205.09 (TTM)
Average yield: 1.74%
2024 performance: +26.00%
VFV.TO= +35.24%, XIU.TO = +20.72%
Dividend growth: +12.22%
Total return since inception (Sep 2017 – July 2025): 175.28%
Annualized return (since September 2017 – 92 months): 14.12%
Vanguard S&P 500 Index ETF (VFV.TO) annualized return (since Sept 2017): 15.71% (total return 206.00%)
iShares S&P/TSX 60 ETF (XIU.TO) annualized return (since Sept 2017): 11.33% (total return 127.70%)
Dynamic sector allocation determined by DSR PRO as of July 3rd, 2025.
Starting an Official Position in Dollarama (DOL.TO)
I reinvested dividends to increase my Dollarama shares as a precaution against recession. Dollarama’s steady performance is appealing, and the acquisition potential with Dollarcity and the Reject Shop inspired me to expand this to a complete position.
Minor Positions Are Insignificant
Tracking the market can lead to excessive stock selections, potentially causing a cumbersome portfolio. At present, I hold shares in 37 companies, with five accounting for less than 1% of the portfolio’s overall value. These low-impact companies are included in my Smith Manoeuvre portfolio, where losing Canadian Tire (CTC.A.TO) would minimally affect overall performance.
I am committed to allowing sufficient time and effort to ensure each investment makes a meaningful impact. My Smith Manoeuvre strategy, contributing $750 per month, gradually builds my Dollarama position. Both my pension and SM portfolios align with long-term objectives, enabling pension funds to acquire additional shares.
What Constitutes a Full Position?
An equally weighted portfolio designates a full position as 2.70% of total holdings. I aim to achieve a complete Dollarama position with a 2.5-3% allocation. Major holdings exceeding 3% often demonstrate over 100% return, with capital being redistributed throughout the portfolio.
I will persist in increasing my Dollarama position to full capacity, with TMX Group (X.TO) potentially next on the list.
Smith Manoeuvre Update
The evolving portfolio, currently valued at $21,810 with an $18,250 debt, generates an annual income of $656.70, as guided by the DSR PRO dashboard export.
Smith Manoeuvre Portfolio Summary as of July 3rd, 2025 (pre-market):
Increasing my Holdings in Telus (T.TO)
Telus has experienced a fruitful 2025, supported by enhanced cash flow, reduced expenses, and increased cash generation. Therefore, I’m expanding my investment in Telus to boost dividend yields.
Pension Portfolio Summary as of July 3rd, 2025 (pre-market):
Total value: $299,398.64 (+$3,804.74 or +1.3% compared to last month). Alimentation Couche-Tard had a disappointing quarter, faced with declines in EPS and revenue.
My Entire Portfolio Updated for Q2 2025
For Dividend Stocks Rock (DSR) members, a quarterly DSR PRO report offers insights into corporate earnings. The PDF detailing my holdings, updated as of July 3rd, 2025, is available for download.
Dividend Income: $630.44 (+3.36% compared to June 2024)
Several changes took place this year. I divested my shares in BlackRock,