Articles on investing and capital management, with a quantitative focus.

#growth - My portfolio of individual growth stocks

Growth Portfolio 6 Month Update


My growth portfolio outperformed the TSX by several percent in this time period, continuing to show strong performance since inception 2.5 years ago.

All positions are equal weight. After today's adjustments, the current portfolio is:

Stock Symbol Company Sector
EMP.A Consumer
BYD.UN Consumer
CP Industrial
WCN Industrial
GIB.A Technology
CSU Technology
QBR.B Media
BAM.A Financials
KL Materials

The dividend yield of the portfolio is 0.8%


The Lifetime CAGR (compound annual growth rate) since inception is 11.6%, compared to the benchmark XIC at 5.9%.

Performance is calculated for each time period shown, in between portfolio updates. I use actual fill prices if there was a trade, or the bid price otherwise. Trade fees are ignored. The XIC return includes dividends, but the Growth return does not, since they are quite small.

Start End Growth XIC
2016-12-28 2017-06-19 15.0% 0.7%
2017-06-19 2017-12-27 2.6% 7.2%
2017-12-27 2018-06-18 4.9% 2.5%
2018-06-18 2018-12-17 -11.6% -10.3%
2018-12-17 2019-06-19 20.1% 16.1%
Lifetime CAGR 2.5 years 11.6% 5.9%

Note that the first time period accounts for the entire outperformance of Growth versus XIC. If one ignores the first time period, Growth performs about the same as XIC. To be more confident in this portfolio, I would need to see more time periods where Growth outperforms XIC.


The broad stock market has been incredibly strong for the last few years, so it's not surprising that growth stocks performed well. The big question is: what happens when stocks weaken or enter a bear market?

I will keep evaluating my portfolio against the XIC benchmark. There is a danger that my growth stocks could perform significantly worse than XIC during a downturn in stocks.

A track record of 5+ years will be needed before I can conclude that my portfolio is doing well. Short term results might simply be random and meaningless.