MONTREAL GAZETTE PORTFOLIO Value Value Value
Inc
Company (ticker)   # of shares   Purchase price   Price Oct.31   Nov.30 30-Nov-16 6-Apr-18 6-Apr-18 30-Nov-16 6-Apr-18 Change 30-Nov-16 6-Apr-18 XIRR
Lumenpulse (LMP) 2,800 $14.75 $16.61 $17.22 $48,216 $21.25 $59,500.00 $48,216.00 $59,500.00 23.40% -$48,216.00 $59,500.00 16.88%
Couche-Tard (ATD.B) 793 $4.84 $67.38 $61.99 $49,158 $55.58 $44,074.94 $49,158.07 $44,074.94 -10.34% -$49,158.07 $44,074.94 -7.78%
Laurentian Bank  (LB) 942 $48.48 $49.57 $53.35 $50,256 $47.19 $44,452.98 $50,255.70 $44,452.98 -11.55% -$50,255.70 $44,452.98 -8.70%
CN Railway (CNR) 630 $35.56 $84.32 $89.81 $56,580 $94.51 $59,541.30 $56,580.30 $59,541.30 5.23% -$56,580.30 $59,541.30 3.86%
Québecor (QBR.B) 1,598 $22.34 $37.64 $36.41 $58,183 $24.93 $39,838.14 $58,183.18 $39,838.14 -31.53% -$58,183.18 $39,838.14 -24.50%
Mediagrif (MDF) 3,184 $10.22 $18.45 $19.09 $60,783 $10.50 $33,432.00 $60,782.56 $33,432.00 -45.00% -$60,782.56 $33,432.00 -35.82%
Uni-Sélect (UNS) 1,754 $15.98 $30.18 $30.31 $53,164 $20.46 $35,886.84 $53,163.74 $35,886.84 -32.50% -$53,163.74 $35,886.84 -25.29%
CGI Group (GIB.A) 824 $28.04 $63.71 $63.63 $52,431 $73.29 $60,390.96 $52,431.12 $60,390.96 15.18% -$52,431.12 $60,390.96 11.05%
Stella Jones (SJ) 1,110 $11.19 $47.60 $45.13 $50,094 $45.29 $50,271.90 $50,094.30 $50,271.90 0.35% -$50,094.30 $50,271.90 0.26%
Fiera Capital (FSZ) 4,236 $12.73 $12.03 $12.80 $54,221 $10.80 $45,748.80 $54,220.80 $45,748.80 -15.63% -$54,220.80 $45,748.80 -11.84%
Industrial Alliance (IAG) 1113 $36.37 $51.94 $56.95 $63,385 $52.29 $58,198.77 $63,385.35 $58,198.77 -8.18% -$63,385.35 $58,198.77 -6.14%
Héroux-Devtek (HRX) 3,755 $7.40 $14.48 $15.73 $59,066 $14.67 $55,085.85 $59,066.15 $55,085.85 -6.74% -$59,066.15 $55,085.85 -5.04%
SNC-Lavalin (SNC) 1,024 $30.84 $54.50 $56.92 $58,286 $53.99 $55,285.76 $58,286.08 $55,285.76 -5.15% -$58,286.08 $55,285.76 -3.84%
Boralex (BLX) 3,200 $14.09 $19.24 $17.48 $55,936 $22.36 $71,552.00 $55,936.00 $71,552.00 27.92% -$55,936.00 $71,552.00 20.04%
Canam Group (CAM) 4,359 $11.12 $9.01 $9.60 $41,846 $769,759.35 $713,260.24 -7.34% -$769,759.35 $713,260.24 -5.50%
$811,605 $713,260.24 $30,789.37
Cash $12,482 $84,928.15 $769,759.35 $744,049.61 -3.34% -$769,759.35 $713,260.24 -5.50%
$824,087 $798,188.39 -3.14%
Portfolio XIRR -2.34% -$824,087 $798,188.39 XIRR -2.49% -$769,759 $744,049.61
TSX XIRR 0.61% -15082.85 15207.41
Dividends paid 
Company  # of sh 23-Mar-18 6-Apr-18
Lumenpulse Inc. 2,800 $0.0000 $0.00 2,800 $0.0000 $0.00 $0.00 $0.00
Alimentation Couche-Tard Inc. 793 $0.5275 $418.31 793 $0.4500 $356.85 $356.85 $356.85
Laurentian Bank of Canada 860 $4.2900 $3,689.40 942 $3.0900 $2,910.78 $2,910.78 $2,910.78
Canadian National Railway Co 630 $2.4000 $1,512.00 630 $2.0250 $1,275.75 $1,275.75 $1,275.75
Quebecor Inc. 1,433 $0.1775 $254.36 1,598 $0.1550 $247.69 $247.69 $247.69
Mediagrif Interactive Technologies Inc. 3,184 $0.6000 $1,910.40 3,184 $0.5000 $1,592.00 $1,592.00 $1,592.00
Uni Select Inc. 1,754 $0.5325 $934.01 1,754 $0.4475 $784.92 $784.92 $784.92
CGI Group Inc. 824 $0.00 824 $0.00 $0.00 $0.00 $0.00
Stella-Jones Inc. 1,110 $0.6400 $710.40 1,110 $0.5400 $599.40 $599.40 $599.40
Fiera Capital Corp 4,236 $1.0200 $4,320.72 4,236 $0.8600 $3,642.96 $3,642.96 $3,642.96
Industrial Alliance Insurance and Financial Services Inc. 1385 $2.4500 $3,393.25 1113 $2.1300 $2,370.69 $2,370.69 $2,370.69
Heroux-Devtek Inc. 3,755 $0.00 3,755 $0.00 $0.00 $0.00 $0.00
SNC-Lavalin Group Inc. 1,024 $1.8990 $1,944.58 1,024 $1.6390 $1,678.34 $1,678.34 $1,678.34
Boralex Inc. 3,200 $1.0300 $3,296.00 3,200 $0.8900 $2,848.00 $2,848.00 $2,848.00
Canam Group Inc. 3,976 $0.1600 $636.16 4,359 $0.1200 $523.08 $523.08
Canam Group Inc.(taken private) July 2017 $48,904.80 $53,615.70
$71,924.38 $72,446.15 $18,830.45 $18,307.37
Company Ticker Dividend  # of shares   Pur Price   June 30  29-Jul-16 29-Jul-16 23-Mar-18 XIRR Cal 23-Mar-18 XIRR Tot Chge
Lumenpulse Inc. LMP 0.00% 2,800 $14.75 $16.18 $17.14 $47,992.00 $21.25 -$47,992 $59,500.00 13.92% 23.98%
Alimentation Couche-Tard Inc. ATD.B 0.46% 793 $4.84 $55.48 $59.03 $46,810.79 $56.45 -$46,811 $44,764.85 -2.67% -4.37%
Laurentian Bank of Canada LB 4.89% 860 $48.41 n/a $48.41 $41,632.60 $48.31 -$41,633 $41,546.60 -0.13% -0.21%
Canadian National Railway Co CNR 1.78% 630 $35.56 $76.29 $82.77 $52,145.10 $91.05 -$52,145 $57,361.50 5.95% 10.00%
Quebecor Inc. QBR.B 0.45% 1,433 $20.72 $37.02 $40.22 $57,635.26 $24.00 -$57,635 $34,392.00 -26.88% -40.33%
Mediagrif Interactive Technologies Inc. MDF 2.21% 3,184 $10.22 $17.42 $17.80 $56,675.20 $10.44 -$56,675 $33,240.96 -27.64% -41.35%
Uni Select Inc. UNS 1.10% 1,754 $15.98 $32.76 $31.85 $55,864.90 $20.70 -$55,865 $36,307.80 -22.99% -35.01%
CGI Group Inc. GIB.A 0.00% 824 $28.04 $55.19 $63.39 $52,233.36 $73.40 -$52,233 $60,481.60 9.30% 15.79%
Stella-Jones Inc. SJ 0.94% 1,110 $11.19 $48.11 $46.55 $51,670.50 $44.98 -$51,671 $49,927.80 -2.06% -3.37%
Fiera Capital Corp FSZ 5.06% 4,236 $12.73 $12.82 $12.74 $53,966.64 $10.86 -$53,967 $46,002.96 -9.23% -14.76%
Industrial Alliance Insurance and Financial Services Inc. IAG 2.76% 1385 $36.37 $40.61 $42.50 $58,862.50 $52.68 -$58,863 $72,961.80 13.90% 23.95%
Heroux-Devtek Inc. HRX 0.00% 3,755 $7.40 $15.00 $15.24 $57,226.20 $14.74 -$57,226 $55,348.70 -2.00% -3.28%
SNC-Lavalin Group Inc. SNC 1.86% 1,024 $30.84 $54.26 $56.25 $57,600.00 $55.37 -$57,600 $56,698.88 -0.95% -1.56%
Boralex Inc. BLX 2.97% 3,200 $14.09 $19.47 $19.95 $63,840.00 $22.37 -$63,840 $71,584.00 7.19% 12.13%
Canam Group Inc. CAM 1.61% 3,976 $11.19 $13.03 $10.51 $41,787.76 Taken prv 1-Jul-17
— Cash: $7,250 $493.64 $795,942.81 -$795,943 $720,119.45 -5.89% -9.53%
$7,250.00 cash $71,924.38
— Total: $803,193 $803,192.81 -$803,193 $792,043.83 -0.84% -1.39%
Start $100,000 $795,943 7/30/98 -$100,000 14,582.74 -$14,583 15,223.74 2.64% TSX
695.94% 7/30/16 $795,943
12.20% XIRR
http://montrealgazette.com/business/montreal-gazette-portfolio-surpasses-800000-in-july?__lsa=5aba-02d2 
The model portfolio of 15 Quebec-based companies, launched just over 18 years ago with an imaginary $100,000, crossed the threshold thanks to a 
July advance of 1.74 per cent. It ended the month worth $803,193.
Décarie, who under the rules of the portfolio can make trades only at the end of the month.
portfolio manager Christine Décarie says.
She ended portfolio in December 2016.
Div between 29-Jul-16 30-Nov-16 Div
For Nov.—Annualized since inception Oct. 1997 2.19 12.18
BMO Quebec Index 2.13 4.27
S&P/TSX Index (total return) 2.19 6.52
http://montrealgazette.com/business/gazette-portfolio-finishes-at-824088-after-a-strong-november
http://montrealgazette.com/business/montreal-gazette-portfolios-manager-reflects-on-its-19-year-run