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Portfolio Cleanup - Cuts And Additions; 2 Less Holdings

Mar. 02, 2021 4:56 PM ETEXETF, RIOCF, BMO, TRP, LMT, IBM, BMO:CA, TRP:CA, EXE:CA, REI.UN:CA23 Comments
PassiveCanadianIncome profile picture


  • This month, I decided to do a little bit of housekeeping and clean up the portfolio a bit.
  • I think we will be lucky in Canada if things go back to normal by the end of the fall.
  • After the portfolio cleanup and all these moves, our portfolio will generate $114.92 more than it would before.


This month, I decided to do a little bit of housekeeping and clean up the portfolio a bit. There were certain holdings I have had for a long time that I have always thought of tossing but didn't want to book a loss. This month, I decided to take the loss and just move forward. Short term, it's unfortunate, but I feel in the long term, it's going to a better move/Portfolio.



First on the sale list is Extendicare. This was one of our original holdings from way back, and just like most of those, it needed to be cut. I think I bought it because of its monthly high yield and lack of healthcare stocks in Canada. I liked the idea of long-term care, retirement living, and home healthcare.

Then covid hit…. Outbreaks at homes like theirs blew up (Extendicare did pretty good in this regard though) and then things started getting political… Why did Extendicare get government funds for covid while it continued to pay dividends to its shareholders? At that time, I was worried of a dividend cut but it didn't happen. Once covid has come to pass, maybe we will be looking at these homes differently and question the systems in place..

I decided to take roughly a 20% loss (minus like 4 years of dividends) and move that cash into something else.

  • Sold 488 shares of Extendicare & lost $232.00 in forward dividends from this sale.


RioCan - yup, I did it. I sold our position in RioCan. I have said how much I like this company and how retail will be fine, as well as how they are diversifying into residential.. I drove through the outskirts of Toronto one day last week and saw a tonne of for-lease signs on both retail and office.

This article was written by

PassiveCanadianIncome profile picture
In 2011 me and my wife had almost $60,000 in debt and a negative $7,000 Net Worth. Through hard work and financial education we paid all that off. Now we are focusing on increasing our Passive Income Streams to make the money work for us.

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Comments (23)

Mr. Value profile picture
Well said re: LMT. I've been saying this for months that people's concerns about a D in the White House and military spending are overblown and misplaced. You're already seeing the proof.
As a Canadian investor, what is your feeling about about SJR (Shaw Communications), a monthly dividend payer?
PassiveCanadianIncome profile picture
@seavulture hey Sea I had them before but didnt see the growth on wireless that I was hoping for.

I think their 5 yr chart paints the picture. I prefer telus and bce in that space. While they dont pay monthly the dividend raises are nice and telus has both growth in dividends and capital appreciation.
Universal Huckleberry profile picture
"Something I have started to ask myself over the years is if any stock in the portfolio is down, let's say more than 10%, why would I not want to add to that position? If I don't want to add when it's in the red, why do I own that stock?"

Best bit of the whole article.
Universal Huckleberry profile picture
"You could even question if there will be less people starting their own businesses after this. We now know the govt can just shut the small businesses down while letting the large corporations get all the business. It's an added risk that people will probably think of moving forward."

Not probably, but a risk you MUST think of before starting a business.
I don't have any overly strong thoughts on your sales or adds but agree with your decision to consolidate positions.

It's so easy to keep adding stocks with the new commission free environment but do those tiny positions do much? Not really, I've been trying to focus on adding to positions I feel very confident in and getting rid of the so so ones. With a huge chunk of my portfolio being workplace accounts invested in ETFs, I feel adequately diversified too.
Jettisoning Extendicare is a bad idea. They've definitely had some tough quarters, but they were in the middle of a major health situation. Meanwhile, the population continues to age and we will all need progressively more help. Provinces may layer on more regulation, but they also pay most of the cost of that regulation.
Basically, the company rents out beds and rooms to people who need those beds and rooms. They then layer on additional medical services needed by the elderly. That's not a business I want to bet against.
PassiveCanadianIncome profile picture
@Kontrary You may be right, that was my thesis as well.

Obviously right now isnt ideal timing but the stock has had no dividend growth and not much capital appreciation in the years before covid as well.

I just rather put my capital elsewhere
Rod Willmot profile picture
"Trudeau screwed our vaccinations big time!"

The only thing he screwed up was his image, making super-optimistic firm promises that a well-informed person would never have made. Vaccine production is not simple, and scaling up massively can and did lead to unpredictable complications.

Canada's slow start was the result of us voters allowing our government, over decades, to let the country become dependent on foreign multinationals. There is now a project underway to build our own vaccine production facility. I fully expect it to be cut, as soon as we get yet another government that is blind to all concerns except cutting costs. Thus we have shot ourselves in the foot many times, and likely will again!
PassiveCanadianIncome profile picture
@Rod Willmot

Hopefully this is something we learn from and start the planning of producing alot more Items right here in Canada.
bryan555 profile picture
@PassiveCanadianIncome Also, considering the vast difference in per capita cases and deaths -- comparing Canada to the US, Britain, etc -- seems pretty churlish to blame Trudeau. We've done very well. But we can't magically acquire vaccines which are produced elsewhere, and in high, high demand everywhere.
@Rod Willmot there have been reports that the liberal government was approached by domestic manufacturers about making vaccines in Canada. They could have produced 1 million doses by December. The government never took them up on it. We would have been dependent on imported vaccines, regardless, but it’s definitely slowed our return to normal.
I think the liberals have been wise to buy as many doses as they did. I suspect that, as a small market, it was a necessary cost to ensure reasonable timelines for deliveries.
Overall, I’d give the liberals a C. They were right to spend as much as they did, but their failure to manufacture any vaccines domestically is unforgivable.
User 47803322 profile picture
TRP seems to be ignored with the seeming addiction to ENB people have but they have a great business and are well positioned.
PassiveCanadianIncome profile picture
@User 47803322 for sure. For the record though I do have a larger holding of Enbridge =)
FMS Investments profile picture
Interesting moves. I've thought about taking some bank profits as well but haven't pulled the trigger.
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