Dividend 15 Split Corp T.DFN

DFN unit NAV to Jan 07 = APPROX: $18.16

[mouserman]

SO DFN has moved up 43 cents since Dec 31 , and ordinarily that would be a huge move in only 4 session, but it has been novershadowed by the moves in the financial splits. Since dec 31 
: FTN up $1.15 , BK up $1.10 and FFN  up 96 cents...
DFN trading at a discount to NAV with over 3 $ of safety... very strange days. At least we know there wont be any more offerings planned for DFN as long as this holds true.
DFN has the biggest market value of any split i watch. about 1.64 Billion $ CAD at DEC 31 2021.

[MrDontKnowItAll]

How do you go about keeping live NAV? Also, I'm not seeing on the Quadravest's website where you're finding the weightings? It just says holdings sorted by weighings, but doesn't specify the weighings.

[Wickwire]

I found this on their site under DFN Fund Document.. I'm sure MM has been asked this more that once, and I'm not answering this for him but would think putting this on a SS and tying to updates should provide somewhat accurate fund updates. Too bad Quadravest does do a daily on this.. https://www.quadravest.com/dfn-fund-documents

[MrDontKnowItAll]

So these NAV projections are based on weighting from the Aug 2021 portfolio disclosure?

[mouserman]

I more or less take the historical averages when you stack the weightings, and it seems to work quite well. Each month i will make adjustments when the NAV is posted , after the 15th and after the monthend.  If I am within a few pennies i dont change things much, as there can be options income or losses and also dividends collected.  Most of the time when my estimates are off, it is due

[MrDontKnowItAll]

Thank you. I'm working on a NAV predictor model also.It is fairely close to what you predict. I just had have no idea how to calculate the value of the covered calls. Do you apply a certain % for those?

[mouserman]

No,  because covered calls can at times work against you, your call gets taken out and with a forced  sell,  where you invest that cash doesnt make as much as if you had held on.  Covered calls do make a bit of income in collecting the premiums on the covered call, which never gets exercised.  I stick to just watching collected dividends amongst the holdings, and just the

[MrDontKnowItAll]

Do you see anything that needs adjustment? DFN Last NAV update Dec 31 2021 $17.73           Last Weightings from Quarterly Portfolio Disclosure Aug-21            

[mouserman]

My spreadsheet now has these weightings for the top 15 RY 9.1% TD  8.3% BMO 6.7% TRP 6.4% CM 6.2% BNS 5.8% BCE 5.7% MFC 5.5% SLF 5.5% TRI 5.1% ENB 5% NA 4.9% T 4.5% TA 3.7%

[mouserman]

OOPS missed CIX as the 15th @ 2.8%

[MrDontKnowItAll]

Are you missing National Bank of Canada also? Without them it shows 19.7% cash.

[MrDontKnowItAll]

Sorry, I don't know how I missed it. I see it now.