Jason Del Vicario, portfolio manager at iA Private Wealth in Vancouver, discusses his three top stock picks and a Japan-based beauty company he sold
Many investors are cheering the recent market run-up, but for money manager Jason Del Vicario, it has resulted in fewer opportunities to find stocks he considers worth buying.
Mr. Del Vicario and his team aim to buy high-quality, founder-owned-and-run companies with consistent returns on capital that they find at cheaper valuations and hold long-term. The firm’s balanced growth fund, in which three-quarters of its clients are invested, is up 11 per cent this year. Its three-year annualized return is 8 per cent and its five-year annualized return is 9 per cent. The performance data are as of June 28 and are based on total returns, net of fees.
We added to the stock again in January, 2021 when the price dropped to $37 a share after the company announced it was exploring acquiring France-based retailer Carrefour Group SA. . Couche-Tard’s stock is currently trading at around $80 a share. . We first bought it in October, 2021 at US$101 a share when it was listed on the London Stock Exchange. The stock dropped in early 2022 due to civil unrest and we added more at US$56 in March and US$45 in May of that year.
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