GFI Investment Counsel Ltd.
In its 13F for Q3 2024 (holdings as of September 30, 2024, filed June 10, 2025), GFI Investment Counsel Ltd. reported 20 stock positions worth $861.8 million. Its top holding was Microsoft (MSFT) at 9.3% of the portfolio, followed by Apple (AAPL, 9.1%) and Moody's (MCO, 8.9%). Compared with Q2 2024, it opened 1 new position, added to 8 and reduced 8. The biggest buy was a new position in Salesforce (CRM) and the biggest sale Microsoft (MSFT, shares −2%).
- Most Recent 13F
- Q2 2026
- Location
- TORONTO, A6
- CIK
- 0001688774
- Portfolio Value
- $861.8M (Q3 2024)
- SEC Filing
- 0001688774-25-000010 ↗ filed Jun 10, 2025
Holdings Value
Holdings 20 stocks · $861.8M
| MSFT Microsoft Corp. | 9.29% | 185,988 | $80.0M | Reduce -1.8% |
| AAPL Apple Inc. | 9.10% | 336,597 | $78.4M | Reduce -1.0% |
| MCO Moody's Corp. | 8.88% | 161,190 | $76.5M | Reduce -4.0% |
| SHW The Sherwin-Williams Co. | 8.26% | 186,410 | $71.1M | Reduce -2.4% |
| EFX Equifax Inc. | 8.22% | 241,012 | $70.8M | Reduce -0.6% |
| V Visa Inc. Class A | 8.20% | 257,067 | $70.7M | Reduce -0.2% |
| MSCI MSCI Inc. | 7.80% | 115,372 | $67.3M | Add +1.3% |
| HLT Hilton Worldwide Holdings Inc. | 7.11% | 265,924 | $61.3M | Add +1.5% |
| FERG Ferguson Enterprises Inc. | 6.25% | 271,175 | $53.8M | Add +1.9% |
| AON Aon PLC Class A | 6.23% | 155,154 | $53.7M | Add +1.6% |
| AXP American Express Co. | 5.91% | 187,824 | $50.9M | Add +4.7% |
| G Genpact Ltd. | 5.87% | 1,289,838 | $50.6M | Add +3.4% |
| BAH Booz Allen Hamilton Holdings | 5.54% | 293,134 | $47.7M | Add +6.2% |
| VRSN Verisign Inc. | 0.95% | 43,000 | $8.2M | No change |
| BIL SS SPDR BB 1-3M T-Bill ETF | 0.74% | 69,863 | $6.4M | Add +1.0% |
| CRM Salesforce Inc. | 0.68% | 21,364 | $5.8M | New |
| XPEL Xpel Inc. | 0.61% | 120,600 | $5.2M | No change |
| FSV Firstservice Corp. | 0.26% | 12,502 | $2.3M | Reduce -7.6% |
| IGIB iShares 5-10Y Inv Grade Corp. | 0.07% | 11,984 | $644K | Reduce -23.6% |
| META Meta Platforms Inc. Class A | 0.03% | 500 | $286K | No change |
Portfolio Sells Q2 2024 → Q3 2024
| MSFT Microsoft Corp. | Reduce -1.8% | 9.29% | −1.79 |
| V Visa Inc. Class A | Reduce -0.2% | 8.20% | −0.64 |
| MCO Moody's Corp. | Reduce -4.0% | 8.88% | −0.37 |
| AAPL Apple Inc. | Reduce -1.0% | 9.10% | −0.27 |
| IGIB iShares 5-10Y Inv Grade Corp. | Reduce -23.6% | 0.07% | −0.03 |
| FSV Firstservice Corp. | Reduce -7.6% | 0.26% | −0.01 |
| EFX Equifax Inc. | Reduce -0.6% | 8.22% | +0.53 |
| SHW The Sherwin-Williams Co. | Reduce -2.4% | 8.26% | +0.80 |
Portfolio Buys Q2 2024 → Q3 2024
| CRM Salesforce Inc. | New | 0.68% | +0.68 |
| MSCI MSCI Inc. | Add +1.3% | 7.80% | +0.62 |
| G Genpact Ltd. | Add +3.4% | 5.87% | +0.61 |
| AXP American Express Co. | Add +4.7% | 5.91% | +0.48 |
| AON Aon PLC Class A | Add +1.6% | 6.23% | +0.36 |
| BAH Booz Allen Hamilton Holdings | Add +6.2% | 5.54% | −0.02 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Add +1.0% | 0.74% | −0.09 |
| HLT Hilton Worldwide Holdings Inc. | Add +1.5% | 7.11% | −0.37 |
| FERG Ferguson Enterprises Inc. | Add +1.9% | 6.25% | −0.49 |
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 |