GFI Investment Counsel Ltd.
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 14, 2026), GFI Investment Counsel Ltd. reported 24 stock positions worth $731.5 million. Its top holding was Hilton Worldwide (HLT) at 10.3% of the portfolio, followed by Ferguson Enterprises (FERG, 8.4%) and MSCI (MSCI, 8.0%). Compared with Q4 2025, it opened 1 new position, sold out of 7, added to 6 and reduced 13. The biggest buy was Amazon.com (AMZN, shares +16714%) and the biggest sale an exit from Genpact (G).
- Most Recent 13F
- Q2 2026
- Location
- TORONTO, A6
- CIK
- 0001688774
- Portfolio Value
- $731.5M (Q1 2026)
- SEC Filing
- 0001688774-26-000004 ↗ filed May 14, 2026
Holdings Value
Holdings 24 stocks · $731.5M
| HLT Hilton Worldwide Holdings Inc. | 10.33% | 248,561 | $75.6M | Reduce -8.2% |
| FERG Ferguson Enterprises Inc. | 8.39% | 262,970 | $61.3M | Reduce -8.7% |
| MSCI MSCI Inc. | 8.03% | 109,010 | $58.8M | Reduce -7.8% |
| V Visa Inc. Class A | 8.02% | 194,169 | $58.7M | Reduce -20.1% |
| AXP American Express Co. | 7.85% | 189,847 | $57.4M | Reduce -6.8% |
| MSFT Microsoft Corp. | 7.20% | 142,198 | $52.6M | Reduce -20.9% |
| MCO Moody's Corp. | 7.18% | 120,472 | $52.6M | Reduce -23.9% |
| AON Aon PLC Class A | 6.95% | 157,437 | $50.8M | Reduce -5.8% |
| SHW The Sherwin-Williams Co. | 6.35% | 144,831 | $46.4M | Reduce -23.1% |
| ROP Roper Technologies Inc. | 6.18% | 127,720 | $45.2M | Reduce -6.9% |
| OTIS Otis Worldwide Corp. | 6.17% | 585,364 | $45.1M | Reduce -8.7% |
| EFX Equifax Inc. | 5.71% | 231,801 | $41.7M | Reduce -7.5% |
| AMZN Amazon.com Inc. | 4.73% | 166,292 | $34.6M | Add +16714.2% |
| BAM Brookfield Asset Mgmt-A | 3.36% | 554,753 | $24.6M | Reduce -5.7% |
| VRSN Verisign Inc. | 1.48% | 43,470 | $10.8M | New |
| BIL SS SPDR BB 1-3M T-Bill ETF | 0.96% | 76,708 | $7.0M | Add +21.3% |
| GOOGL Alphabet Inc. Class A | 0.40% | 10,300 | $3.0M | Add +83.0% |
| FSV Firstservice Corp. | 0.25% | 13,421 | $1.9M | No change |
| AAPL Apple Inc. | 0.18% | 5,071 | $1.3M | Add +83.5% |
| IGIB iShares 5-10Y Inv Grade Corp. | 0.09% | 11,984 | $638K | No change |
| BRK.B Berkshire Hathaway Inc. Class B | 0.09% | 1,304 | $625K | Add +8.9% |
| COST Costco Wholesale Corp. | 0.04% | 324 | $323K | Add +26.1% |
| TSLA Tesla Inc. | 0.03% | 628 | $233K | No change |
| PSLV Sprott Physical Silver Trust | 0.03% | 8,520 | $208K | No change |
Portfolio Sells Q4 2025 → Q1 2026
| G Genpact Ltd. | Sold out | 0.00% | −6.59 |
| MSFT Microsoft Corp. | Reduce -20.9% | 7.20% | −2.08 |
| MCO Moody's Corp. | Reduce -23.9% | 7.18% | −1.45 |
| V Visa Inc. Class A | Reduce -20.1% | 8.02% | −1.06 |
| ROP Roper Technologies Inc. | Reduce -6.9% | 6.18% | −0.33 |
| AXP American Express Co. | Reduce -6.8% | 7.85% | −0.19 |
| CRM Salesforce Inc. | Sold out | 0.00% | −0.18 |
| SHW The Sherwin-Williams Co. | Reduce -23.1% | 6.35% | −0.16 |
| EFX Equifax Inc. | Reduce -7.5% | 5.71% | −0.09 |
| BAH Booz Allen Hamilton Holdings | Sold out | 0.00% | −0.04 |
| CBRE CBRE Group Inc. Class A | Sold out | 0.00% | −0.03 |
| RY Royal Bank of Canada | Sold out | 0.00% | −0.02 |
| BAI Ishrs AI in and Tech Act ETF | Sold out | 0.00% | −0.02 |
| BUZZ Vaneck Social Sentiment ETF | Sold out | 0.00% | −0.02 |
| BAM Brookfield Asset Mgmt-A | Reduce -5.7% | 3.36% | +0.07 |
| OTIS Otis Worldwide Corp. | Reduce -8.7% | 6.17% | +0.20 |
| AON Aon PLC Class A | Reduce -5.8% | 6.95% | +0.66 |
| MSCI MSCI Inc. | Reduce -7.8% | 8.03% | +0.80 |
| FERG Ferguson Enterprises Inc. | Reduce -8.7% | 8.39% | +1.55 |
| HLT Hilton Worldwide Holdings Inc. | Reduce -8.2% | 10.33% | +2.04 |
Portfolio Buys Q4 2025 → Q1 2026
| AMZN Amazon.com Inc. | Add +16714.2% | 4.73% | +4.71 |
| VRSN Verisign Inc. | New | 1.48% | +1.48 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Add +21.3% | 0.96% | +0.34 |
| GOOGL Alphabet Inc. Class A | Add +83.0% | 0.40% | +0.22 |
| AAPL Apple Inc. | Add +83.5% | 0.18% | +0.10 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +8.9% | 0.09% | +0.02 |
| COST Costco Wholesale Corp. | Add +26.1% | 0.04% | +0.02 |
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 |