GFI Investment Counsel Ltd.
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed June 10, 2025), GFI Investment Counsel Ltd. reported 20 stock positions worth $871.1 million. Its top holding was Apple (AAPL) at 9.6% of the portfolio, followed by Visa Class A (V, 9.2%) and Microsoft (MSFT, 9.1%). Compared with Q3 2024, it opened 2 new positions, sold out of 2, added to 12 and reduced 2. The biggest buy was American Express (AXP, shares +4%) and the biggest sale an exit from Xpel (XPEL).
- Most Recent 13F
- Q2 2026
- Location
- TORONTO, A6
- CIK
- 0001688774
- Portfolio Value
- $871.1M (Q4 2024)
- SEC Filing
- 0001688774-25-000011 ↗ filed Jun 10, 2025
Holdings Value
Holdings 20 stocks · $871.1M
| AAPL Apple Inc. | 9.65% | 335,652 | $84.1M | Reduce -0.3% |
| V Visa Inc. Class A | 9.22% | 254,190 | $80.3M | Reduce -1.1% |
| MSFT Microsoft Corp. | 9.07% | 187,372 | $79.0M | Add +0.7% |
| MCO Moody's Corp. | 8.77% | 161,376 | $76.4M | Add +0.1% |
| MSCI MSCI Inc. | 8.03% | 116,611 | $70.0M | Add +1.1% |
| HLT Hilton Worldwide Holdings Inc. | 7.67% | 270,279 | $66.8M | Add +1.6% |
| SHW The Sherwin-Williams Co. | 7.28% | 186,551 | $63.4M | Add +0.1% |
| EFX Equifax Inc. | 7.17% | 245,231 | $62.5M | Add +1.8% |
| AXP American Express Co. | 6.65% | 195,292 | $58.0M | Add +4.0% |
| AON Aon PLC Class A | 6.60% | 160,127 | $57.5M | Add +3.2% |
| G Genpact Ltd. | 6.51% | 1,320,949 | $56.7M | Add +2.4% |
| FERG Ferguson Enterprises Inc. | 5.63% | 282,388 | $49.0M | Add +4.1% |
| BAH Booz Allen Hamilton Holdings | 4.67% | 315,923 | $40.7M | Add +7.8% |
| VRSN Verisign Inc. | 1.02% | 43,000 | $8.9M | No change |
| CRM Salesforce Inc. | 0.89% | 23,305 | $7.8M | Add +9.1% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 0.73% | 69,863 | $6.4M | No change |
| FSV Firstservice Corp. | 0.26% | 12,502 | $2.3M | No change |
| IGIB iShares 5-10Y Inv Grade Corp. | 0.07% | 11,984 | $617K | No change |
| BRK.B Berkshire Hathaway Inc. Class B | 0.06% | 1,197 | $543K | New |
| TSLA Tesla Inc. | 0.03% | 628 | $254K | New |
Portfolio Sells Q3 2024 → Q4 2024
Portfolio Buys Q3 2024 → Q4 2024
| AXP American Express Co. | Add +4.0% | 6.65% | +0.74 |
| G Genpact Ltd. | Add +2.4% | 6.51% | +0.64 |
| HLT Hilton Worldwide Holdings Inc. | Add +1.6% | 7.67% | +0.56 |
| AON Aon PLC Class A | Add +3.2% | 6.60% | +0.37 |
| MSCI MSCI Inc. | Add +1.1% | 8.03% | +0.23 |
| CRM Salesforce Inc. | Add +9.1% | 0.89% | +0.22 |
| BRK.B Berkshire Hathaway Inc. Class B | New | 0.06% | +0.06 |
| TSLA Tesla Inc. | New | 0.03% | +0.03 |
| MCO Moody's Corp. | Add +0.1% | 8.77% | −0.11 |
| MSFT Microsoft Corp. | Add +0.7% | 9.07% | −0.22 |
| FERG Ferguson Enterprises Inc. | Add +4.1% | 5.63% | −0.62 |
| BAH Booz Allen Hamilton Holdings | Add +7.8% | 4.67% | −0.87 |
| SHW The Sherwin-Williams Co. | Add +0.1% | 7.28% | −0.98 |
| EFX Equifax Inc. | Add +1.8% | 7.17% | −1.04 |
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 |