In 2016, I made a significant decision: I took a sabbatical, relocated my family into a small RV, and journeyed to Costa Rica.
Upon my return in 2017, I stepped down from my position as a private banker at National Bank to dedicate myself full-time to Dividend Stocks Rock and started managing my National Bank pension account. This venture created a public real-life case study portfolio to share with members the ups and downs of its management.
By August 2017, I had $108,760.02 secured in a retirement account, which was limited to growth solely through capital gains and dividends, with no possibility for additional contributions. Sharing the progress of this portfolio is not about boasting returns, but rather providing a learning resource from my management experiences.
**Reviewing All My Stocks 2026**
At the start of the year—new objectives, the same dividend growth strategy! Although I underperformed the market in 2025 (7.34% compared to a benchmark of 20.50%), the emphasis remains on the long-term approach rather than short-lived performance. My objective is still to manage my portfolio confidently without depending on erratic market fluctuations. Now, let’s explore each stock position!
**Performance in Review**
As of January 5, 2025 (pre-opening bell):
– Initial investment in September 2017: $108,760.02.
– Current portfolio value: $324,300.60
– Dividends paid: $5,227.59 (TTM)
– Average yield: 1.61%
– 2025 performance: +7.34%
– Comparisons: VFV.TO +12.18%, XIU.TO +28.88%
– Dividend growth: +1.5%
**Total return since inception (Sep 2017 – Nov 2025): +198.18%**
– Annualized return (98 months): 14.31%
– Vanguard S&P 500 ETF (VFV.TO) annualized: 16.23% (total +241.80%)
– iShares S&P/TSX 60 ETF (XIU.TO) annualized: 12.84% (total +168.30%)
**Stock Reviews**
**Automatic Data Processing (ADP) – Industrial**
ADP continues to be a “quiet compounding machine” with enduring payroll services and recurring fee frameworks. Expect ongoing mid-single-digit growth influenced by wage and hiring trends.
**Alimentation Couche-Tard (ATD.TO) – Consumer Staples**
Recognized for revamping convenience retail into a revenue-generating machine while adhering to discipline. Predicts margin strength, strategic management for opportunistic deals, and growth amidst external fuel and foreign exchange variables.
**Broadcom (AVGO) – Information Technology**
Latest addition to the portfolio, utilizing a growth-through-acquisition strategy, benefiting from steady RF filter sales and the rise of AI. Looking forward to sustained demand for efficient computing.
**Brookfield Renewable Corp (BEPC.TO) – Utilities**
Embodies my investment philosophy: a long-term focus with contractual cash flows and infrastructure projects set to prosper in an AI-driven landscape.
**Brookfield Corp (BN.TO) – Financial Services**
Defined by varied fee streams and strategic acquisitions, expected to maintain a sharp focus on earnings linked to AI infrastructure demands.
**CCL Industries (CCL.B.TO) – Basic Materials**
A front-runner in the packaging and specialty materials sector, positioned for disciplined incremental growth and operational advancements despite potential cyclical shifts in industrial demand.
**Dollarama (DOL.TO) – Consumer Discretionary**
Functions as a consumer inflation relief channel with established growth across varied regions, presenting organic expansion and resilience amid possibly challenging market comparisons.
**Fortis (FTS.TO) – Utilities**
A reliable portfolio asset featuring regulated properties and capital initiatives designed for consistent performance and modest earnings advancement.
**Granite Real Estate Investment Trust (GRT.UN.TO) – REITs**
Provides steady performance in occupancy and rent spreads, notwithstanding refinancing challenges and cap rate issues.
**Home Depot (HD) – Consumer Discretionary**
Mirrors shifts in the housing cycle where a gradual improvement is anticipated as rates decrease, aided by project renovations and regular maintenance.
**LeMaitre Vascular (LMAT) – Healthcare**
Concentrated on specialized vascular instruments with organic growth fueled by its niche market positioning, financial soundness, and disciplined product strategy.
**Microsoft (MSFT) – Information Technology**
Takes advantage of its strong cloud and subscription services with expected AI advancements set to bolster future growth, despite short-term margin challenges.
**National Bank (NA.TO) – Financial Services**
A leading performer among the major Canadian banks, anticipated to provide consistent value through strategic acquisitions and robust financial metrics.
**Royal Bank (RY.TO) – Financial Services**
Delivers a diversified revenue stream with solid capital market growth, managing credit risks with a strong financial foundation.
**Stella-Jones (SJ.TO) – Basic Materials**
Focuses on essentials like rail ties and utility poles, exhibiting consistent demand.