Manitou Investment Management Ltd.

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 17, 2025), Manitou Investment Management Ltd. reported 57 stock positions worth $573.2 million. Its top holding was Berkshire Hathaway Class B (BRK.B) at 14.8% of the portfolio, followed by Alphabet Class A (GOOGL, 14.2%) and Idexx Laboratories (IDXX, 10.6%). Compared with Q2 2025, it opened 2 new positions, sold out of 6, added to 6 and reduced 15. The biggest buy was Meta Platforms Class A (META, shares +14301%) and the biggest sale Home Depot (HD, shares −44%).

Most Recent 13F
Q2 2026
Location
TORONTO, A6
CIK
0001657428
Portfolio Value
$573.2M (Q3 2025)
SEC Filing
0001062993-25-016163 ↗ filed Oct 17, 2025

Holdings Value

0$200.0M$400.0M$600.0M Q1 2024: $499.4M Q1 2024 Q2 2024: $447.0M Q2 2024 Q3 2024: $525.7M Q3 2024 Q4 2024: $506.2M Q4 2024 Q1 2025: $514.4M Q1 2025 Q2 2025: $525.8M Q2 2025 Q3 2025: $573.2M $573.2M Q3 2025 Q4 2025: $570.7M Q4 2025 Q1 2026: $505.6M Q1 2026 Q2 2026: $537.9M Q2 2026

Holdings 57 stocks · $573.2M
BRK.B Berkshire Hathaway Inc. Class B 14.81% 168,895 $84.9M Reduce -1.1%
GOOGL Alphabet Inc. Class A 14.15% 333,751 $81.1M Reduce -0.2%
IDXX Idexx Laboratories Inc. 10.60% 95,077 $60.7M Reduce -0.4%
MSFT Microsoft Corp. 9.28% 102,689 $53.2M Reduce -0.8%
AMZN Amazon.com Inc. 8.25% 215,470 $47.3M Add +2.2%
APH Amphenol Corp. Class A 6.99% 323,908 $40.1M Reduce -1.8%
MA Mastercard Inc. Class A 6.93% 69,867 $39.7M Reduce -0.3%
ROP Roper Technologies Inc. 6.41% 73,670 $36.7M Add +8.9%
JPM JPMorgan Chase & Co. 6.21% 112,785 $35.6M Add +0.2%
AAPL Apple Inc. 3.27% 73,611 $18.7M Reduce -2.1%
SYK Stryker Corp. 3.21% 49,853 $18.4M Reduce -0.5%
HD Home Depot Inc. 2.68% 37,869 $15.3M Reduce -44.2%
EW Edwards Lifesciences Corp. 2.49% 183,246 $14.3M Reduce -1.3%
META Meta Platforms Inc. Class A 1.94% 15,121 $11.1M Add +14301.0%
BN Brookfield Corp. 0.67% 56,337 $3.9M Add +0.4%
BRK.A Berkshire Hathaway Inc. Class A 0.53% 4 $3.0M No change
MKL Markel Group Inc. 0.38% 1,140 $2.2M Add +111.1%
CRH CRH PLC 0.27% 13,096 $1.6M Reduce -4.4%
V Visa Inc. Class A 0.24% 3,986 $1.4M Reduce -2.6%
DHR Danaher Corp. 0.20% 5,785 $1.1M Reduce -68.5%
CME Cme Group Inc. 0.18% 3,915 $1.1M Reduce -3.3%
COST Costco Wholesale Corp. 0.03% 215 $199K Reduce -12.2%
GOOG Alphabet Inc. Class C 0.03% 800 $195K No change
JNJ Johnson & Johnson 0.03% 969 $180K No change
WFC Wells Fargo & Co. 0.02% 1,220 $102K No change
FRMO Frmo Corp. 0.02% 11,500 $101K No change
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.02% 1,725 $89K No change
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.01% 280 $79K No change
APA Apa Corp. 0.01% 3,130 $76K No change
LIN Linde PLC 0.01% 157 $75K No change
USB US Bancorp 0.01% 1,510 $73K No change
NVO Novo-Nordisk A/S-Spons ADR 0.01% 1,159 $64K No change
WELL Welltower Inc. 0.01% 270 $48K No change
SOBO South Bow Corp. 0.01% 1,700 $48K No change
MMM 3M Co. 0.01% 290 $45K No change
WHR Whirlpool Corp. 0.01% 559 $44K No change
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.01% 278 $40K No change
FAST Fastenal Co. 0.01% 784 $38K No change
HON Honeywell International Inc. 0.01% 165 $35K No change
CAT Caterpillar Inc. 0.01% 65 $31K No change
LLY Eli Lilly & Co. 0.01% 40 $31K No change
WMT Walmart Inc. 0.00% 255 $26K No change
LRLCY L'oreal-Unsponsored ADR 0.00% 256 $22K No change
WSO Watsco Inc. 0.00% 50 $20K No change
NSRGY Nestle SA-Spons ADR 0.00% 210 $19K No change
XRAY Dentsply Sirona Inc. 0.00% 1,451 $18K No change
LULU Lululemon Athletica Inc. 0.00% 85 $15K No change
PSA Public Storage 0.00% 27 $8K No change
COIN Coinbase Global Inc. Class A 0.00% 12 $4K New
EA Electronic Arts Inc. 0.00% 19 $4K No change
PENN Penn Entertainment Inc. 0.00% 119 $2K No change
XYZ Block Inc. 0.00% 29 $2K New
ENVX Enovix Corp. 0.00% 140 $1K No change
REZI Resideo Technologies Inc. 0.00% 27 $1K No change
GTX Garrett Motion Inc. 0.00% 16 $218 No change
WAB Wabtec Corp. 0.00% 1 $200 No change
TRANSTEL SA COMMON 0.00% 33 $33 No change

Portfolio Sells Q2 2025 → Q3 2025
HD Home Depot Inc. Reduce -44.2% 2.68% −2.06
BRK.B Berkshire Hathaway Inc. Class B Reduce -1.1% 14.81% −0.97
MA Mastercard Inc. Class A Reduce -0.3% 6.93% −0.56
SYK Stryker Corp. Reduce -0.5% 3.21% −0.56
MSFT Microsoft Corp. Reduce -0.8% 9.28% −0.51
DHR Danaher Corp. Reduce -68.5% 0.20% −0.49
EW Edwards Lifesciences Corp. Reduce -1.3% 2.49% −0.28
WBA Walgreens Boots Alliance Inc. Sold out 0.00% −0.09
V Visa Inc. Class A Reduce -2.6% 0.24% −0.04
CME Cme Group Inc. Reduce -3.3% 0.18% −0.03
NKE Nike Inc. Class B Sold out 0.00% −0.01
SHW The Sherwin-Williams Co. Sold out 0.00% −0.01
COST Costco Wholesale Corp. Reduce -12.2% 0.03% −0.01
BF.B Brown-Forman Corp. Class B Sold out 0.00% −0.01
EL Estee Lauder Companies Class A Sold out 0.00% −0.01
ADDYY Adidas AG-Sponsored ADR Sold out 0.00% −0.00
CRH CRH PLC Reduce -4.4% 0.27% +0.03
AAPL Apple Inc. Reduce -2.1% 3.27% +0.33
APH Amphenol Corp. Class A Reduce -1.8% 6.99% +0.80
IDXX Idexx Laboratories Inc. Reduce -0.4% 10.60% +0.86
GOOGL Alphabet Inc. Class A Reduce -0.2% 14.15% +2.95

Portfolio Buys Q2 2025 → Q3 2025
META Meta Platforms Inc. Class A Add +14301.0% 1.94% +1.92
MKL Markel Group Inc. Add +111.1% 0.38% +0.17
BN Brookfield Corp. Add +0.4% 0.67% +0.01
JPM JPMorgan Chase & Co. Add +0.2% 6.21% +0.00
COIN Coinbase Global Inc. Class A New 0.00% +0.00
XYZ Block Inc. New 0.00% +0.00
AMZN Amazon.com Inc. Add +2.2% 8.25% −0.55
ROP Roper Technologies Inc. Add +8.9% 6.41% −0.88

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 48$537.9MBRK.B, GOOGL, AMZN, MSFT, APH
Q1 2026 52$505.6MBRK.B, GOOGL, AMZN, MSFT, ROP
Q4 2025 56$570.7MGOOGL, BRK.B, AMZN, MSFT, IDXX
Q3 2025 57$573.2MBRK.B, GOOGL, IDXX, MSFT, AMZN
Q2 2025 61$525.8MBRK.B, GOOGL, MSFT, IDXX, AMZN
Q1 2025 66$514.4MBRK.B, GOOGL, AMZN, ROP, MSFT
Q4 2024 55$506.2MBRK.B, GOOGL, MSFT, AMZN, MA
Q3 2024 55$525.7MBRK.B, MSFT, GOOGL, AAPL, ROP
Q2 2024 55$447.0MBRK.B, GOOGL, MSFT, AAPL, JPM
Q1 2024 54$499.4MBRK.B, GOOGL, MSFT, JPM, MA