Clearbridge Investments
Clearbridge Canadian Dividend Strategy
North America Income
Dec 2024 → Dec 2024
Our archive holds 1 letter from this strategy, behind 1 investment thesis and positions in 15 companies. Every quote below is copied verbatim from the letter it came from.
1 letter in a year · follow all of Clearbridge Investments for every strategy.
What it bought and sold
In the energy sector, we added to our position in Pembina Pipelines (PPL), a leading Canadian midstream and pipeline company, operating the largest Western Canada Sedimentary Basin network of gathering and processing, NGL pipelines, storage, fractionation and marketing assets, connecting the Montney/Duvernay formations to end markets.
We increased our position in BCE following the company’s announcement of its acquisition of Ziply Fiber, a U.S. fiber operator in the Pacific Northwest.
In industrials we initiated a new position in heavy equipment dealer Toromont (TIH).
In addition to portfolio activity outlined above, during the quarter we sold out of Choice Properties REIT in the real estate sector.
In utilities, we took advantage of share price strength to trim our position in Brookfield Renewables (BEPC) as AI-related enthusiasm and surging demand for data centers drove share prices higher for BEPC and many of its peers.