Table of Contents

• 💡Monthly Highlight

• 📈Updated Stock Analysis and Valuations

  • United Health (UNH)

  • MSCI

  • Alphabet Inc (GOOGL)

  • Meta

  • Amazon (AMZN)

  • Visa Inc (V)

  • International Stocks

    • Vitec Software (VIT.B)

• 💸Detailed Portfolio Update

  • Portfolio Holdings

    • Option Holdings

  • Trades in TFSA Account

    • TFSA portfolio long-term performance

  • Trades in RRSP Account

  • Trades in Taxable Accounts

  • Summary

  • Smith Maneuver Portfolio Updates

  • Quick Links

💡Monthly Highlight

As we enter the major earnings season in July, my portfolio has experienced extreme volatility with some major holdings experiencing daily price swings of more than 5%. It is during periods like this that a long-term investment approach becomes especially important, which will help investors take emotions out of the short-term price movements and focus instead on the long-term performance of the underlying businesses.

The companies in my portfolio that have reported earnings so far are mostly showing steady growth in revenue and earnings, with some continuing to invest heavily in AI infrastructure to support future business expansions. I view this as a positive development and will discuss the details in the individual stock updates below.

Software stocks experienced a moderate recovery in July which have helped increase my total portfolio value, but I believe my software stocks are still trading at levels far below their intrinsic values. I have continued to increase my positions in top quality holdings such as Constellation Software and Vitec Software to take advantage of these attractive valuations.

Going forward, as I enter the next stage of my FIRE plan, I will limit additional investments only to my registered accounts and the Smith Maneuver portfolio. All remaining excess cash flow will be redirected toward debt repayment, with the goal of reducing my fixed costs and strengthening my financial position.