GFI Investment Counsel Ltd.
In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 14, 2026), GFI Investment Counsel Ltd. reported 30 stock positions worth $737.3 million. Its top holding was Hilton Worldwide (HLT) at 9.7% of the portfolio, followed by Visa Class A (V, 8.8%) and American Express (AXP, 8.4%). Compared with Q1 2026, it opened 7 new positions, sold out of 1, added to 3 and reduced 16. The biggest buy was a new position in Interactive Brokers Gro Class A (IBKR) and the biggest sale Roper Technologies (ROP, shares −94%).
- Most Recent 13F
- Q2 2026
- Location
- TORONTO, A6
- CIK
- 0001688774
- Portfolio Value
- $737.3M (Q2 2026)
- SEC Filing
- 0001688774-26-000005 ↗ filed Aug 14, 2026
Holdings Value
Holdings 30 stocks · $737.3M
| HLT Hilton Worldwide Holdings Inc. | 9.70% | 216,490 | $71.5M | Reduce -12.9% |
| V Visa Inc. Class A | 8.76% | 188,200 | $64.6M | Reduce -3.1% |
| AXP American Express Co. | 8.44% | 183,904 | $62.2M | Reduce -3.1% |
| FERG Ferguson Enterprises Inc. | 8.08% | 251,124 | $59.6M | Reduce -4.5% |
| MSCI MSCI Inc. | 7.95% | 104,619 | $58.6M | Reduce -4.0% |
| MCO Moody's Corp. | 7.24% | 117,879 | $53.4M | Reduce -2.1% |
| AON Aon PLC Class A | 7.20% | 160,005 | $53.1M | Add +1.6% |
| MSFT Microsoft Corp. | 6.98% | 137,975 | $51.5M | Reduce -3.0% |
| SHW The Sherwin-Williams Co. | 6.63% | 141,998 | $48.9M | Reduce -2.0% |
| AMZN Amazon.com Inc. | 5.24% | 162,210 | $38.7M | Reduce -2.5% |
| EFX Equifax Inc. | 4.89% | 226,926 | $36.0M | Reduce -2.1% |
| OTIS Otis Worldwide Corp. | 4.30% | 442,927 | $31.7M | Reduce -24.3% |
| IBKR Interactive Brokers Gro Class A | 4.00% | 339,184 | $29.5M | New |
| VRSN Verisign Inc. | 3.88% | 113,640 | $28.6M | Add +161.4% |
| BAM Brookfield Asset Mgmt-A | 3.29% | 541,297 | $24.2M | Reduce -2.4% |
| GOOGL Alphabet Inc. Class A | 0.96% | 19,829 | $7.1M | Add +92.5% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 0.90% | 72,044 | $6.6M | Reduce -6.1% |
| ROP Roper Technologies Inc. | 0.37% | 8,150 | $2.8M | Reduce -93.6% |
| FSV Firstservice Corp. | 0.26% | 13,421 | $1.9M | No change |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.17% | 1,723 | $1.3M | New |
| IEFA iShares Core MSCI Eafe ETF | 0.16% | 12,181 | $1.2M | New |
| DKNG Draftkings Inc. Class A | 0.14% | 39,635 | $1.0M | New |
| AAPL Apple Inc. | 0.12% | 2,961 | $857K | Reduce -41.6% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.09% | 1,289 | $645K | Reduce -1.1% |
| IGIB iShares 5-10Y Inv Grade Corp. | 0.09% | 11,984 | $637K | No change |
| COST Costco Wholesale Corp. | 0.04% | 324 | $303K | No change |
| TSLA Tesla Inc. | 0.04% | 628 | $264K | No change |
| BUZZ Vaneck Social Sentiment ETF | 0.03% | 6,320 | $234K | New |
| GOOG Alphabet Inc. Class C | 0.03% | 641 | $226K | New |
| RY Royal Bank of Canada | 0.03% | 989 | $204K | New |
Portfolio Sells Q1 2026 → Q2 2026
| ROP Roper Technologies Inc. | Reduce -93.6% | 0.37% | −5.80 |
| OTIS Otis Worldwide Corp. | Reduce -24.3% | 4.30% | −1.87 |
| EFX Equifax Inc. | Reduce -2.1% | 4.89% | −0.82 |
| HLT Hilton Worldwide Holdings Inc. | Reduce -12.9% | 9.70% | −0.63 |
| FERG Ferguson Enterprises Inc. | Reduce -4.5% | 8.08% | −0.30 |
| MSFT Microsoft Corp. | Reduce -3.0% | 6.98% | −0.22 |
| MSCI MSCI Inc. | Reduce -4.0% | 7.95% | −0.09 |
| BAM Brookfield Asset Mgmt-A | Reduce -2.4% | 3.29% | −0.07 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Reduce -6.1% | 0.90% | −0.07 |
| AAPL Apple Inc. | Reduce -41.6% | 0.12% | −0.06 |
| PSLV Sprott Physical Silver Trust | Sold out | 0.00% | −0.03 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -1.1% | 0.09% | +0.00 |
| MCO Moody's Corp. | Reduce -2.1% | 7.24% | +0.06 |
| SHW The Sherwin-Williams Co. | Reduce -2.0% | 6.63% | +0.28 |
| AMZN Amazon.com Inc. | Reduce -2.5% | 5.24% | +0.51 |
| AXP American Express Co. | Reduce -3.1% | 8.44% | +0.59 |
| V Visa Inc. Class A | Reduce -3.1% | 8.76% | +0.74 |
Portfolio Buys Q1 2026 → Q2 2026
| IBKR Interactive Brokers Gro Class A | New | 4.00% | +4.00 |
| VRSN Verisign Inc. | Add +161.4% | 3.88% | +2.40 |
| GOOGL Alphabet Inc. Class A | Add +92.5% | 0.96% | +0.56 |
| AON Aon PLC Class A | Add +1.6% | 7.20% | +0.25 |
| SPY SS SPDR S&P 500 ETF Trust-US | New | 0.17% | +0.17 |
| IEFA iShares Core MSCI Eafe ETF | New | 0.16% | +0.16 |
| DKNG Draftkings Inc. Class A | New | 0.14% | +0.14 |
| BUZZ Vaneck Social Sentiment ETF | New | 0.03% | +0.03 |
| GOOG Alphabet Inc. Class C | New | 0.03% | +0.03 |
| RY Royal Bank of Canada | New | 0.03% | +0.03 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 30 | $737.3M | HLT, V, AXP, FERG, MSCI |
| Q1 2026 | 24 | $731.5M | HLT, FERG, MSCI, V, AXP |
| Q4 2025Amended | 30 | $937.7M | MSFT, V, MCO, HLT, AXP |
| Q3 2025 | 25 | $960.1M | MSFT, V, MCO, HLT, ROP |
| Q2 2025 | 21 | $917.9M | MSFT, V, MCO, ROP, HLT |
| Q1 2025 | 18 | $859.8M | V, ROP, MCO, MSFT, G |
| Q4 2024Amended | 20 | $871.1M | AAPL, V, MSFT, MCO, MSCI |
| Q3 2024Amended | 20 | $861.8M | MSFT, AAPL, MCO, SHW, EFX |
| Q2 2024Amended | 19 | $764.4M | MSFT, AAPL, MCO, V, EFX |
| Q1 2024Amended | 18 | $789.2M | MSFT, FIX, EFX, V, MCO |