I am selling over half of my TFI International shares this morning.
Checking the latest rail car loading figures, out this morning: Canada is of course reporting lower car loadings due to the blockade of CN in eastern Canada. The U.S. is also reporting its worst week this year relative to the past three years. Possibly this is due to the timing of the Presidents day holiday (not sure). Or it may be due in past to lower shipments from China. A large portion of the decline is due to coal which is not a concern since that is driven by factors other than the economy.
TFI International has done well lately and may continue to do well. But it may be hit with lower volumes due to the situation in China and so I decided to sell much of my holdings. This will raise cash. I sold much of what I held in non-taxable accounts but did not sell some I hold in a taxable account. I have a very high opinion of the management here but nevertheless decided to take some risk off the table today.