2025 Portfolio

[lnofeisone]

CPNG - 20%

EW - 15%

VET - 10%

CNC/CI/HUM basket - 10%

CPT/MAA/JOE basket - 10% (mostly JOE options. Selling puts around 50 and selling calls around 60 proved to be a good printer this year)

V - 5%

AOS - 5%

ROL/RTO - 5% (rolling from ROL to RTO)

MSCI - 5%

NEP - 3%

STNE - 3%

and a bunch of small potato things.

[Dinar]

11 hours ago, Xerxes said:

CP will have some headwinds with this new trade whatever it is going to be. No ?

 

GE had a clear thesis. The break-up. But for CP, the rational of Kansas City needs to shine through 

I am not sure.  Unless there are massive tariffs on Mexico, there should be no impact.  In the case of no impact, stock is trading at 9% free cash flow yield to the equity based on my 2028 estimates.

[UK]

4 hours ago, Sweet said:

Interesting to see not many are sitting on cash.  I’m about 40% cash which has a 4% yield, which I dislike, but the companies I like are just too expensive for me right now.  

 

Besides my equities I currenty have 20+ cash position:)

 

Edited December 5 by UK

[ourkid8]

My top 3 positions account for 76% of my portfolio: FFH, BN and TSU

 

 

[Onefoothurdles]

Top 5 positions are over 90% of my portfolio: Websol, DFIN, ACFN, XRP and Focus lighting

[Parsad]

On 12/5/2024 at 5:35 AM, Sweet said:

Interesting to see not many are sitting on cash.  I’m about 40% cash which has a 4% yield, which I dislike, but the companies I like are just too expensive for me right now.  

 

Sitting on just over 50% cash in t-bills and short-term treasuries.  The rest is in FFH, BRK-B, VOO, META, JPM, GOOGL, AW.TO and SRU-UN.TO...with a tiny, tiny amount still sitting in PARA 2026 calls!  There are a couple of stocks that intrigue me, but still not cheap enough.  Compounded at 34% annualized for the last 5 years...I'm ok waiting for the right fat pitches!  That being said, I don't need to swing for the fences anymore...singles and doubles will do nicely.  Cheers!

[bennycx]

1 hour ago, Parsad said:

 

Sitting on just over 50% cash in t-bills and short-term treasuries.  The rest is in FFH, BRK-B, VOO, META, JPM, GOOGL, AW.TO and SRU-UN.TO...with a tiny, tiny amount still sitting in PARA 2026 calls!  There are a couple of stocks that intrigue me, but still not cheap enough.  Compounded at 34% annualized for the last 5 years...I'm ok waiting for the right fat pitches!  That being said, I don't need to swing for the fences anymore...singles and doubles will do nicely.  Cheers!

"compounded 34% for past 5 years" - is this inclusive of the cash/treasuries portion or is it just the stock portfolio?

 

[Parsad]

29 minutes ago, bennycx said:

"compounded 34% for past 5 years" - is this inclusive of the cash/treasuries portion or is it just the stock portfolio?

 

 

The whole portfolio.  I just went to that much cash during the last year and a half.  It's been the best 5-year compounding period in my entire 25 year investing life...both in percentage return and dollars! 

 

Got lucky with FFH, META, GOOGL, JPM, LULU and even BRK...bought a lot of those 6 ideas pretty close to their five-year lows in large amounts.  Also had a few call option ideas that panned out very well after the pandemic. 

 

And those results were by averaging in and slowly averaging out as they recovered from their lows.  If I had just held on, the number would have been just stupid...over 50% annualized!

 

But I like to sleep at night, so averaging out slowly works very well for me both mentally and economically.  I can live with getting rich slowly and I'm always prepared for an opportunity!  Cheers!

[John Hjorth]

That's a friggin' crazy past 5 years return, Sanjeev [ @Parsad ]!  - Congratulations! 

[coffeecaninvestor]

Congrats! That’s a killer return. Hope to have a stretch like that one day. 

 

Did you have a lot of cash going into 2019/2020?

[bennycx]

Congrats!

[valueventures]

5 hours ago, Parsad said:

 

Sitting on just over 50% cash in t-bills and short-term treasuries.  The rest is in FFH, BRK-B, VOO, META, JPM, GOOGL, AW.TO and SRU-UN.TO...with a tiny, tiny amount still sitting in PARA 2026 calls!  There are a couple of stocks that intrigue me, but still not cheap enough.  Compounded at 34% annualized for the last 5 years...I'm ok waiting for the right fat pitches!  That being said, I don't need to swing for the fences anymore...singles and doubles will do nicely.  Cheers!

Curious what stocks intrigue you. My most actionable watchlist ideas at the moment are APO, IBKR, BRO, and MUSA, but all are too expensive at the moment. 

[73 Reds]

4 hours ago, Parsad said:

 

The whole portfolio.  I just went to that much cash during the last year and a half.  It's been the best 5-year compounding period in my entire 25 year investing life...both in percentage return and dollars! 

 

Got lucky with FFH, META, GOOGL, JPM, LULU and even BRK...bought a lot of those 6 ideas pretty close to their five-year lows in large amounts.  Also had a few call option ideas that panned out very well after the pandemic. 

 

And those results were by averaging in and slowly averaging out as they recovered from their lows.  If I had just held on, the number would have been just stupid...over 50% annualized!

 

But I like to sleep at night, so averaging out slowly works very well for me both mentally and economically.  I can live with getting rich slowly and I'm always prepared for an opportunity!  Cheers!

<< I can live with getting rich slowly and I'm always prepared for an opportunity!  Cheers!>>

 

Great mantra!  It took me 10 years of poor investment decisions when I was young to figure that out.   2025 portfolio is largely the same as last year's and the 25+ year's before.  All well-known household names where the investment thesis is either the same, or better than ever.  Only significant add in the past 5 years has been Fairfax.    

[Blugolds]

BRK 

FRFH

CNSWF

COST 

META

GOOGL

IVV

NTDOY

JOE

 

BRK and FRFH make up vast majority and and in taxable accounts with significant gains, SWANs, would trim some of the other names but dont want to pay tax without seeing a better deal to deploy. 

 

Also about 10% cash. 

 

[james22]

7 hours ago, Parsad said:

Compounded at 34% annualized for the last 5 years...

 

*Salutes*

[Milu]

5 hours ago, Parsad said:

 

The whole portfolio.  I just went to that much cash during the last year and a half.  It's been the best 5-year compounding period in my entire 25 year investing life...both in percentage return and dollars! 

 

Got lucky with FFH, META, GOOGL, JPM, LULU and even BRK...bought a lot of those 6 ideas pretty close to their five-year lows in large amounts.  Also had a few call option ideas that panned out very well after the pandemic. 

 

And those results were by averaging in and slowly averaging out as they recovered from their lows.  If I had just held on, the number would have been just stupid...over 50% annualized!

 

But I like to sleep at night, so averaging out slowly works very well for me both mentally and economically.  I can live with getting rich slowly and I'm always prepared for an opportunity!  Cheers!

That's great, congrats. Similar story for me, about 15 years of investing for me, last 5 years have also been the best compounding so far (23% CAGR on the overall portfolio, while having cash balances between 25-50%). Some similar stocks too (META, GOOGL, LULU, BRK) but also Amazon, Apple, Tesla and BTC have helped. Cash percentage is down at it's lowest level ever for me at 23% which is new for me.

 

No immediate plans to sell any existing holdings so I expect my cash percentage will go up or down based on how the markets go over coming years. It has been quite pleasant having a large cash holding and being able to pick off any screaming offers the came up (Berkshire at $180 during covid, Meta sub $150, Amazon $85 in 2022, Lululemon at $250 this year. This seems to suit my personality, just relax and read for the majority of the time and then every couple of years go on a binge when things go on sale. I'm still waiting for the 'big one' (50%+ multi year downturn a la 2000 and 2007) but the central banks seem to flood the system with so much cash these days that they've succeeded in stopping that for the time being.

[coffeecaninvestor]

I was pretty frustrated with the performance of the actively managed part of my portfolio the last few years. Thought about it the last few days and decided to wipe the slate clean for 2025. My goal for 2025 is to be less active, and more opportunistic. I tend to put cash to work too fast, and rather than waiting for a great opportunity I put in a so-so opportunity. I also found managing, and paying attention to a ton of small positions is super inefficient. I'll stick with 3-5 positions. 
 

Index Funds - 72%
Cash - 14%
RTO - 8%
JNJ - 6%

Edited December 12 by coffeecaninvestor
additional thoughts

[Dinar]

9 hours ago, Parsad said:

 

Sitting on just over 50% cash in t-bills and short-term treasuries.  The rest is in FFH, BRK-B, VOO, META, JPM, GOOGL, AW.TO and SRU-UN.TO...with a tiny, tiny amount still sitting in PARA 2026 calls!  There are a couple of stocks that intrigue me, but still not cheap enough.  Compounded at 34% annualized for the last 5 years...I'm ok waiting for the right fat pitches!  That being said, I don't need to swing for the fences anymore...singles and doubles will do nicely.  Cheers!

What is the pitch on A&W food services?  Thank you.

[Spooky]

10 hours ago, Parsad said:

Compounded at 34% annualized for the last 5 years...I'm ok waiting for the right fat pitches! 

Congrats @Parsad! It has been a great year and run for me recently. CSU, which I have kept at roughly 50% of my portfolio, is up about 43% YTD and 271% over the last 5 years (not including dividends). The value of my CSU shares went up by more than my whole annual salary this year before tax! The rest of my portfolio has also been pulling its weight with my 25% position in BRK up about 29% YTD and 104% over 5 years.

 

Keep on compounding!

[Kizion]

1 hour ago, Dinar said:

What is the pitch on A&W food services?  Thank you.

I guess this is the thesis - looked at in July thanks to the thread, but decided to put in on my watchlist but not to buy. 

[Parsad]

11 hours ago, coffeecaninvestor said:

Congrats! That’s a killer return. Hope to have a stretch like that one day. 

 

Did you have a lot of cash going into 2019/2020?

 

Yes, fortunately I did.  My whole investing career has sort of been a few years fully invested in concentrated positions, then I usually build up cash as markets get expensive...during that period I look stupid and out of touch...and then suddenly some opportunity presents itself.  Rinse and repeat!  Cheers!

[Parsad]

11 hours ago, valueventures said:

Curious what stocks intrigue you. My most actionable watchlist ideas at the moment are APO, IBKR, BRO, and MUSA, but all are too expensive at the moment. 

 

I was somewhat interested in HSY, DENN and CBRL. 

 

With HSY, I wanted to see it get into the P/E teens...might have missed the boat on that now with some interest in it being taken out.

 

With DENN and CBRL...the restaurant industry is essentially coming out of an industry depression.  I'm trying to contemplate what will survive...and if it does, what will begin to thrive again.  These two aren't huge growth stories or anything, but they are so undervalued and depressed that either they fail or they triple in the next 5 years.

 

Still digging around, but not much that intrigues me.  Cheers!

 

 

[Parsad]

6 hours ago, Dinar said:

What is the pitch on A&W food services?  Thank you.

 

They converted from a REIT to a regular operating company.  I bought when they were a REIT before the announcement.  

 

They expect to continue to pay the same distribution as before, but now as a dividend.  For comparable companies, that would mean the price would increase to between $45-$50 per share...especially when interest rates continue to fall. 

 

They also have the master limited rights to Pret-a-Manger for all of Canada.  Anyone familiar with them, knows that could be a huge accretive business for A&W going forward.  So there remains some significant upside, while paying out a fat dividend.

 

Cheers!

[73 Reds]

13 hours ago, Parsad said:

 

Yes, fortunately I did.  My whole investing career has sort of been a few years fully invested in concentrated positions, then I usually build up cash as markets get expensive...during that period I look stupid and out of touch...and then suddenly some opportunity presents itself.  Rinse and repeat!  Cheers!

This works well when your investments are held in tax-deferred accounts.  Otherwise, you substantially reduce your buying power every few years.  Deferred taxes generates solid investment results even without well-above average returns.  

[Parsad]

4 hours ago, 73 Reds said:

This works well when your investments are held in tax-deferred accounts.  Otherwise, you substantially reduce your buying power every few years.  Deferred taxes generates solid investment results even without well-above average returns.  

 

Yes, I wouldn't recommend it for taxable accounts.  Cheers!