Hi Pat: I have a question about the proportion one stock should account for in a portfolio. Specifically, an RESP that has been set up for three children. I purchased some Teck near its lows a little while back as I liked your analysis and I knew I had time to let it sort things out and catch the resource recovery wave over the next few years. As it has turned out, things have happened a lot faster than I expected. Its value now makes up approximately 35% of the total RESP balance. The rest of the portfolio is essentially spread amongst Canadian and international mutual funds and some holdings in Emera, Torstar and BCE. The first withdrawal from the RESP is at least 10 years off. Should I be trying to rebalance a little now, or do I let my continued contributions over the coming years work to lower the proportion on its own? Thanks.
Typically, we advise that a stock shouldn’t make up more than, say, 5% of a portfolio. However, it could make up as much as 10% if the value rises and it’s not a risky or speculative stock.
However, if you plan to add to the RESP each year for the next 10 years, then it should be okay to hold all the shares of Teck — a stock that we still recommend as a buy in our Successful Investor newsletter. Just be sure to add stocks in the other four sectors first, to offset the RESP’s heavy weighting in resources.
resources.
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