GFI Investment Counsel Ltd.
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed June 10, 2025), GFI Investment Counsel Ltd. reported 18 stock positions worth $789.2 million. Its top holding was Microsoft (MSFT) at 10.7% of the portfolio, followed by Comfort Systems USA (FIX, 10.3%) and Equifax (EFX, 9.5%). Compared with Q4 2023, it opened 2 new positions, sold out of 1, added to 9 and reduced 4. The biggest buy was Hilton Worldwide (HLT, shares +2%) and the biggest sale Microsoft (MSFT, shares −6%).
- Most Recent 13F
- Q2 2026
- Location
- TORONTO, A6
- CIK
- 0001688774
- Portfolio Value
- $789.2M (Q1 2024)
- SEC Filing
- 0001688774-25-000008 ↗ filed Jun 10, 2025
Holdings Value
Holdings 18 stocks · $789.2M
| MSFT Microsoft Corp. | 10.69% | 200,609 | $84.4M | Reduce -5.7% |
| FIX Comfort Systems USA Inc. | 10.25% | 254,746 | $80.9M | Reduce -5.4% |
| EFX Equifax Inc. | 9.53% | 281,145 | $75.2M | Add +0.1% |
| V Visa Inc. Class A | 9.28% | 262,424 | $73.2M | Add +0.1% |
| MCO Moody's Corp. | 8.61% | 172,882 | $67.9M | Add +0.6% |
| SHW The Sherwin-Williams Co. | 8.54% | 193,946 | $67.4M | Reduce -0.2% |
| MSCI MSCI Inc. | 8.06% | 113,519 | $63.6M | Add +0.7% |
| AAPL Apple Inc. | 7.65% | 351,906 | $60.3M | Add +0.2% |
| FERG Ferguson Jersey Ltd. | 7.48% | 270,396 | $59.1M | Add +1.4% |
| HLT Hilton Worldwide Holdings Inc. | 7.13% | 263,856 | $56.3M | Add +2.1% |
| AON Aon PLC Class A | 5.88% | 139,054 | $46.4M | Add +6.2% |
| G Genpact Ltd. | 4.84% | 1,159,620 | $38.2M | Add +6.0% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 0.77% | 66,228 | $6.1M | Reduce -9.9% |
| XPEL Xpel Inc. | 0.71% | 104,000 | $5.6M | No change |
| FSV Firstservice Corp. | 0.29% | 13,950 | $2.3M | No change |
| BAH Booz Allen Hamilton Holdings | 0.15% | 7,792 | $1.2M | New |
| IGIB iShares 5-10Y Inv Grade Corp. | 0.10% | 15,660 | $808K | No change |
| META Meta Platforms Inc. Class A | 0.03% | 500 | $243K | New |
Portfolio Sells Q4 2023 → Q1 2024
Portfolio Buys Q4 2023 → Q1 2024
| HLT Hilton Worldwide Holdings Inc. | Add +2.1% | 7.13% | +0.62 |
| AON Aon PLC Class A | Add +6.2% | 5.88% | +0.61 |
| FERG Ferguson Jersey Ltd. | Add +1.4% | 7.48% | +0.36 |
| BAH Booz Allen Hamilton Holdings | New | 0.15% | +0.15 |
| META Meta Platforms Inc. Class A | New | 0.03% | +0.03 |
| EFX Equifax Inc. | Add +0.1% | 9.53% | −0.08 |
| V Visa Inc. Class A | Add +0.1% | 9.28% | −0.16 |
| G Genpact Ltd. | Add +6.0% | 4.84% | −0.41 |
| MCO Moody's Corp. | Add +0.6% | 8.61% | −0.68 |
| MSCI MSCI Inc. | Add +0.7% | 8.06% | −0.76 |
| AAPL Apple Inc. | Add +0.2% | 7.65% | −1.70 |
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 |