The Fund
WIC employs a bottom-up fundamental investing approach to every investment. Each idea begins with a screening process to find stocks that are trading below their intrinsic value. Our analysts then conduct an extensive research procedure to understand and evaluate the company. The process can sometimes take months for a single idea. WIC attempts to truly understand a company’s valuation as well as the key drivers of its future growth potential before executing a trade. We believe that by conducting an exhaustive research process, we minimize the risk of unforeseen challenges.
Portfolio: At-a-Glance
WIC chose to make the difficult call to cut many legacy holdings which we no longer believed had the long-term growth potential that they possessed when we initially invested. This led to a significant revamp of the portfolio, with the disposal of 17 holdings and 6 new investments (3 in HC, 1 in RA, 1 in TMT, and 1 in FIG) during the 2023-2024 academic year. This has helped add greater business quality, cash-yielding assets to the portfolio, and shed underperforming assets.
WIC’s portfolio is comprised of cash, U.S. equities and Canadian equities. The fund faces foreign exchange risk given significant U.S. equity holdings and does not take action to hedge USD exposure. Cash is held in a Canadian dollar savings account allowing for immediate withdrawals.
Buy/Sell Presentations
In order to manage our portfolio and educate members, WIC makes buy and sell pitches on a weekly basis. Find below a historical database of pitches that WIC analysts and researchers have put together. The following presentations are abbreviated versions. Presentations here do not accurately reflect the current holdings in the Western Investment Club portfolio.
Nov 2021 – Aritzia (Long)
Oct 2023 – Encompass Health (Long)
Nov 2023 – Constellation Software (Long)
Oct 2023 – Seneca Foods (Long)
Nov 2023 – Blue Owl Capital (Long)
Jan 2024 – Invitation Homes (Long)