CRESCENT SCHOOL INVESTMENT TEAM
The Update Executive Team: Jordan Abramsky, Chief Executive Officer • jordanabramsky@crescentschool.org Ryan Boyd, Chief Operating Officer • ryanboyd@crescentschool.org Ronald Chow, Chief Marketing and Strategy Officer • ronaldchow@crescentschool.org Jake Erdman, Portfolio Manager (Financial Sector) • jakeerdman@crescentschool.org Josh Limpert, Portfolio Manager (Energy Sector) • joshlimpert@crescentschool.org Ryley Mehta, Portfolio Manager (Industrial Sector) • ryleymehta@crescentschool.org Christian Metivier, Portfolio Manager (Diversified Sector) • christianmetivier@crescentschool.org Mr. Gavin Muranaka • gmuranaka@crescentschool.org Mr. Michael Stephens • mstephens@crescentschool.org Ms. Mita Bhattacharrya • mbhattacharyya@crescentschool.org
Holdings CURRENT HOLDINGS Stock Name
Purchase Price
# of Shares
Total Cost
Current Price
$28.50 $33.50 $52.00 $41.40 $67.62
473 44 28 36 22
$13,480.50 $1,474.00 $1,456.00 $1,490.40 $1,487.64
$28.41 $35.42 $53.67 $42.61 $71.38
CASH BALANCE iShares Canadian Short Term Bond ETF Gildan Activewear Inc. Toronto-Dominion Bank Brookfield Asset Management Inc. Royal Bank of Canada
Total Market Value $3,078.87 $13,437.93 $1,558.48 $1,502.76 $1,533.96 $1,570.36
$ Change
% Change
-$42.57 +$84.48 +$46.76 +$43.56 +$82.72
-0.32% +5.73% +3.21% +2.92% +5.56%
$ Change
% Change
-$250.80
-14.5%
-$50.55
-0.22%
PAST HOLDINGS Stock Name Magna International (SOLD 01/20/16)
Purchase Price
# of Shares
Total Cost
Sell Price
$57.51
30
$1,725.30
$49.15
Total Market Value $1,474.50
TOTAL
$22,732.91
$22,682.36
Recent Activity We purchased shares of TD on February 23, 2016, and shares of BAM.A and RY on February 24, 2016. All holdings except for XSB have positive returns; it is important to note that we did receive a $27.00 interest payment from XSB. Our portfolio is now a touch below its starting value at the beginning of the year, but below both benchmarks. - Ronald Chow, Chief Marketing and Strategy Officer
CRESCENT SCHOOL INVESTMENT TEAM
MARCH 6, 2016
CRESCENT SCHOOL INVESTMENT TEAM
The Update Portfolio Performance % Change – Past Week % Change – Past Month % Change – Past Three Months % Change – Since Inception
CSIT Portfolio *Blue Line* +0.59% +0.88% -0.22% -0.22%
Crescent TSX 60 Benchmark *Red Line* +2.86% +5.28% +1.97% +4.38%
Crescent Alternative Benchmark *Orange Line* +0.72% +1.10% +0.37% +0.37%
Comments: Remember how everyone was worrying about the tanking markets in January? Given the slumping oil prices, Canadian investors were rightly justified. From peak to trough, the BM shed over 10% of its value. Don’t worry though, it seems as if someone hit the reset button. The BM has not only returned to positive territory, but the TSX composite is one of the best performing markets in the world for 2016 so far, only a touch behind Brazil and Mexico. This is on the backs of the loonie’s uphill climb of seven cents from its 68 cents low versus the U.S. dollar – a jump of roughly 10% - and a 10% gain in oil price over the past week. - Ronald Chow, Chief Marketing and Strategy Officer The market outlook is cautiously optimistic: the US economy added an impressive 242,000 jobs in February, however, global conditions remain relatively weak. Oil prices remain low and China’s economy continues to be an area of uncertainty for investors and economists. We expect to see oil prices to increase, as the current price is unsustainable; however, this is not certain so we are putting most of our energy investments into pipelines to mitigate the risk. We have approvals for purchases of Crescent Point Energy (CPG), Enbridge (ENB) and Canadian National Railway (CNR), and are in the process of receiving many more approvals. - Ryan Boyd, Chief Operating Officer CRESCENT SCHOOL INVESTMENT TEAM
MARCH 6, 2016