Mawer Investment Management Ltd.
In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 7, 2026), Mawer Investment Management Ltd. reported 142 stock positions worth $14.7 billion. Its top holding was Alphabet Class C (GOOG) at 6.4% of the portfolio, followed by Amazon.com (AMZN, 4.9%) and Microsoft (MSFT, 4.3%). Compared with Q1 2026, it opened 28 new positions, sold out of 12, added to 38 and reduced 75. The biggest buy was Nvidia (NVDA, shares +224%) and the biggest sale Marsh & McLennan Cos (MRSH, shares −46%).
- Most Recent 13F
- Q2 2026
- Location
- CALGARY, A0
- CIK
- 0001538449
- Portfolio Value
- $14.7B (Q2 2026)
- SEC Filing
- 0000945621-26-000992 ↗ filed Aug 7, 2026
Holdings Value
Holdings 142 stocks · $14.7B
| GOOG Alphabet Inc. Class C | 6.44% | 2,682,081 | $947.7M | Reduce -17.9% |
| AMZN Amazon.com Inc. | 4.91% | 3,028,097 | $721.7M | Reduce -17.0% |
| MSFT Microsoft Corp. | 4.26% | 1,679,876 | $626.6M | Reduce -27.4% |
| SHEL Shell PLC-ADR | 4.22% | 8,013,792 | $621.4M | Add +12.6% |
| NVDA Nvidia Corp. | 4.19% | 3,078,576 | $616.0M | Add +223.6% |
| V Visa Inc. Class A | 4.04% | 1,730,185 | $593.6M | Reduce -10.7% |
| WAT Waters Corp. | 3.10% | 1,216,947 | $456.4M | Reduce -13.3% |
| COR Cencora Inc. | 2.86% | 1,488,843 | $421.3M | Add +44.4% |
| APH Amphenol Corp. Class A | 2.83% | 2,358,285 | $415.8M | Reduce -40.9% |
| AON Aon PLC Class A | 2.64% | 1,171,624 | $388.6M | Reduce -8.3% |
| AER Aercap Holdings NV | 2.40% | 2,420,238 | $352.8M | Reduce -9.7% |
| WFC Wells Fargo & Co. | 2.36% | 4,195,116 | $346.7M | Reduce -10.2% |
| NOC Northrop Grumman Corp. | 2.31% | 667,069 | $339.7M | Reduce -2.4% |
| AEP American Electric Power | 2.12% | 2,283,858 | $312.5M | Add +71.1% |
| MRSH Marsh & McLennan Cos | 2.12% | 1,871,159 | $311.9M | Reduce -46.2% |
| BRK.A Berkshire Hathaway Inc. Class A | 2.11% | 415 | $310.8M | Reduce -18.5% |
| META Meta Platforms Inc. Class A | 2.09% | 545,687 | $307.4M | Reduce -10.9% |
| JPM JPMorgan Chase & Co. | 2.06% | 927,802 | $303.7M | Reduce -16.7% |
| SO The Southern Co. | 1.97% | 3,023,312 | $289.4M | Reduce -11.6% |
| TSEM Tower Semiconductor Ltd. | 1.84% | 1,038,086 | $270.6M | Add +7.6% |
| ICE Intercontinental Exchange Inc. | 1.70% | 2,031,582 | $250.1M | Reduce -2.4% |
| MA Mastercard Inc. Class A | 1.52% | 434,186 | $223.0M | Reduce -4.0% |
| CME Cme Group Inc. | 1.44% | 955,942 | $211.1M | Reduce -7.3% |
| SPGI S&P Global Inc. | 1.19% | 428,573 | $174.5M | Add +11.9% |
| SII Sprott Inc. | 1.01% | 1,320,706 | $148.4M | Reduce -2.3% |
| UBER Uber Technologies Inc. | 0.97% | 1,983,808 | $143.2M | Reduce -10.4% |
| MEDP Medpace Holdings Inc. | 0.96% | 267,175 | $141.5M | Reduce -40.1% |
| MLM Martin Marietta Materials | 0.95% | 241,545 | $139.3M | Reduce -5.5% |
| MCK McKesson Corp. | 0.93% | 180,449 | $136.3M | Add +110.6% |
| BWXT BWX Technologies Inc. | 0.91% | 689,750 | $134.3M | Reduce -6.0% |
| CDW CDW Corp. | 0.91% | 949,381 | $133.5M | Reduce -9.7% |
| TXN Texas Instruments Inc. | 0.91% | 447,181 | $133.3M | Add +2.2% |
| BKNG Booking Holdings Inc. | 0.90% | 740,483 | $132.0M | Reduce -47.8% |
| CPAY Corpay Inc. | 0.83% | 367,757 | $122.6M | Reduce -28.4% |
| AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO | 0.80% | 510,025 | $117.1M | Reduce -12.3% |
| PG The Procter & Gamble Co. | 0.78% | 784,529 | $115.0M | Reduce -7.8% |
| FCN Fti Consulting Inc. | 0.75% | 736,868 | $109.8M | Reduce -43.8% |
| ABBV Abbvie Inc. | 0.74% | 431,246 | $108.5M | Add +39.2% |
| AAON Aaon Inc. | 0.74% | 855,173 | $108.5M | Add +0.8% |
| ABT Abbott Laboratories | 0.73% | 1,186,677 | $107.7M | Reduce -5.3% |
| ABNB Airbnb Inc. Class A | 0.73% | 746,819 | $106.9M | Reduce -12.7% |
| CACI Caci International Inc. Class A | 0.71% | 224,720 | $104.1M | Add +0.2% |
| NOVT Novanta Inc. | 0.65% | 589,573 | $95.7M | Add +22.3% |
| NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD | 0.65% | 7,155,847 | $95.6M | Reduce -7.1% |
| CGNX Cognex Corp. | 0.64% | 1,305,175 | $94.5M | Add +10.0% |
| ITT Itt Inc. | 0.57% | 422,873 | $83.6M | Reduce -6.9% |
| VRSK Verisk Analytics Inc. | 0.57% | 464,286 | $83.4M | Add +62.7% |
| JNJ Johnson & Johnson | 0.56% | 322,477 | $81.9M | Reduce -10.9% |
| ELV Elevance Health Inc. | 0.49% | 187,293 | $72.4M | Reduce -0.9% |
| VZ Verizon Communications Inc. | 0.48% | 1,676,590 | $71.0M | Reduce -38.6% |
| ESQ Esquire Financial Holdings I | 0.47% | 583,871 | $69.5M | Reduce -19.5% |
| HDB HDFC Bank Ltd.-ADR | 0.46% | 2,624,709 | $67.8M | Reduce -2.2% |
| VMI Valmont Industries | 0.45% | 114,118 | $65.9M | New |
| VEEV Veeva Systems Inc. Class A | 0.43% | 355,389 | $63.1M | Add +6368.7% |
| DHR Danaher Corp. | 0.41% | 319,583 | $60.9M | Reduce -5.7% |
| TW Tradeweb Markets Inc. Class A | 0.39% | 579,425 | $57.7M | Reduce -7.5% |
| TSM Taiwan Semiconductor-SP ADR | 0.39% | 120,328 | $57.5M | Reduce -10.4% |
| SKM SK Telecom Co. Ltd.-Spon ADR | 0.37% | 1,708,146 | $54.9M | New |
| UNH Unitedhealth Group Inc. | 0.37% | 129,954 | $54.0M | Reduce -11.3% |
| TME Tencent Music Entertainm-ADR | 0.35% | 6,202,845 | $51.8M | Reduce -14.0% |
| LITE Lumentum Holdings Inc. | 0.34% | 57,680 | $49.5M | Add +549.3% |
| HSY The Hershey Co. | 0.33% | 278,385 | $48.8M | Add +4.8% |
| AVGO Broadcom Inc. | 0.33% | 128,290 | $48.5M | New |
| BBSI Barrett Business SVCS Inc. | 0.30% | 1,230,575 | $43.7M | Reduce -27.7% |
| IPAR Interparfums Inc. | 0.29% | 386,090 | $43.2M | Add +24.2% |
| OPLN Openlane Inc. | 0.28% | 1,000,262 | $41.3M | Reduce -7.8% |
| NKE Nike Inc. Class B | 0.27% | 950,036 | $39.0M | Reduce -11.2% |
| SNDK Sandisk Corp. | 0.26% | 17,110 | $38.9M | Reduce -44.0% |
| AME Ametek Inc. | 0.24% | 147,117 | $35.6M | Reduce -26.0% |
| DORM Dorman Products Inc. | 0.24% | 257,897 | $35.2M | Add +1.1% |
| BDX Becton Dickinson and Co. | 0.24% | 231,895 | $35.1M | Reduce -34.7% |
| FERG Ferguson Enterprises Inc. | 0.23% | 144,782 | $34.4M | Reduce -78.5% |
| NOW ServiceNow Inc. | 0.23% | 337,344 | $33.5M | New |
| MDLN Medline Inc. Class A | 0.23% | 840,566 | $33.2M | Add +128.8% |
| FORM Formfactor Inc. | 0.22% | 202,824 | $32.4M | New |
| KLAC KLA Corp. | 0.22% | 106,797 | $32.2M | Add +13.4% |
| WCC Wesco International Inc. | 0.18% | 74,616 | $25.8M | New |
| BRK.B Berkshire Hathaway Inc. Class B | 0.17% | 50,850 | $25.4M | Reduce -7.0% |
| ADSK Autodesk Inc. | 0.17% | 130,248 | $25.3M | New |
| ATR Aptargroup Inc. | 0.16% | 193,292 | $24.2M | Reduce -70.6% |
| VRT Vertiv Holdings Co. Class A | 0.16% | 72,028 | $24.1M | Add +119.6% |
| ATAT Atour Lifestyle Holdings-ADR | 0.16% | 752,258 | $23.9M | Add +16.1% |
| CASH Pathward Financial Inc. | 0.16% | 271,655 | $23.7M | Add +1.2% |
| BSX Boston Scientific Corp. | 0.15% | 530,533 | $22.6M | Reduce -10.0% |
| BIO Bio-Rad Laboratories-A | 0.14% | 71,577 | $21.0M | Reduce -62.1% |
| SN Sharkninja Inc. | 0.13% | 129,084 | $19.7M | Reduce -29.1% |
| BWA Borgwarner Inc. | 0.13% | 295,797 | $19.6M | Reduce -64.5% |
| IBKR Interactive Brokers Gro Class A | 0.13% | 223,262 | $19.4M | Reduce -39.6% |
| ZTS Zoetis Inc. | 0.13% | 257,185 | $18.5M | Reduce -65.9% |
| RXO Rxo Inc. | 0.12% | 657,345 | $18.1M | New |
| LPLA LPL Financial Holdings Inc. | 0.12% | 64,243 | $18.1M | Add +31.9% |
| RYAN Ryan Specialty Holdings Inc. | 0.12% | 469,919 | $17.7M | Reduce -6.2% |
| TER Teradyne Inc. | 0.12% | 35,997 | $17.4M | New |
| RMD Resmed Inc. | 0.12% | 89,367 | $17.4M | Add +6.4% |
| KKR KKR & Co. Inc. | 0.12% | 189,608 | $17.4M | Reduce -10.1% |
| KNSL Kinsale Capital Group Inc. | 0.12% | 52,521 | $17.3M | Reduce -12.2% |
| SHW The Sherwin-Williams Co. | 0.11% | 48,595 | $16.7M | Reduce -53.1% |
| SFM Sprouts Farmers Market Inc. | 0.11% | 185,380 | $15.7M | Add +48.8% |
| XPEL Xpel Inc. | 0.10% | 310,200 | $15.4M | New |
| DFIN Donnelley Financial Solution | 0.10% | 347,156 | $14.6M | Reduce -18.1% |
Portfolio Sells Q1 2026 → Q2 2026
| MRSH Marsh & McLennan Cos | Reduce -46.2% | 2.12% | −1.78 |
| MSFT Microsoft Corp. | Reduce -27.4% | 4.26% | −1.29 |
| OSIS Osi Systems Inc. | Sold out | 0.00% | −1.14 |
| FERG Ferguson Enterprises Inc. | Reduce -78.5% | 0.23% | −0.78 |
| FCN Fti Consulting Inc. | Reduce -43.8% | 0.75% | −0.75 |
| NOC Northrop Grumman Corp. | Reduce -2.4% | 2.31% | −0.71 |
| BKNG Booking Holdings Inc. | Reduce -47.8% | 0.90% | −0.65 |
| CME Cme Group Inc. | Reduce -7.3% | 1.44% | −0.54 |
| ZTS Zoetis Inc. | Reduce -65.9% | 0.13% | −0.45 |
| APH Amphenol Corp. Class A | Reduce -40.9% | 2.83% | −0.43 |
| MEDP Medpace Holdings Inc. | Reduce -40.1% | 0.96% | −0.42 |
| ICE Intercontinental Exchange Inc. | Reduce -2.4% | 1.70% | −0.42 |
| VZ Verizon Communications Inc. | Reduce -38.6% | 0.48% | −0.40 |
| NTES Netease Inc.-ADR | Sold out | 0.00% | −0.38 |
| ATR Aptargroup Inc. | Reduce -70.6% | 0.16% | −0.37 |
| BRK.A Berkshire Hathaway Inc. Class A | Reduce -18.5% | 2.11% | −0.25 |
| SII Sprott Inc. | Reduce -2.3% | 1.01% | −0.24 |
| ENSG The Ensign Group Inc. | Sold out | 0.00% | −0.22 |
| BIO Bio-Rad Laboratories-A | Reduce -62.1% | 0.14% | −0.20 |
| META Meta Platforms Inc. Class A | Reduce -10.9% | 2.09% | −0.18 |
| SO The Southern Co. | Reduce -11.6% | 1.97% | −0.17 |
| BWA Borgwarner Inc. | Reduce -64.5% | 0.13% | −0.16 |
| VVV Valvoline Inc. | Reduce -68.5% | 0.09% | −0.14 |
| CPAY Corpay Inc. | Reduce -28.4% | 0.83% | −0.13 |
| MKC McCormick & Co.-Non VTG SHRS | Sold out | 0.00% | −0.13 |
| BDX Becton Dickinson and Co. | Reduce -34.7% | 0.24% | −0.12 |
| ABT Abbott Laboratories | Reduce -5.3% | 0.73% | −0.10 |
| SHW The Sherwin-Williams Co. | Reduce -53.1% | 0.11% | −0.10 |
| NKE Nike Inc. Class B | Reduce -11.2% | 0.27% | −0.10 |
| BSX Boston Scientific Corp. | Reduce -10.0% | 0.15% | −0.09 |
| TW Tradeweb Markets Inc. Class A | Reduce -7.5% | 0.39% | −0.08 |
| TME Tencent Music Entertainm-ADR | Reduce -14.0% | 0.35% | −0.08 |
| NU Nu Holdings Ltd./Cayman Isl-A | Reduce -7.1% | 0.65% | −0.07 |
| BWXT BWX Technologies Inc. | Reduce -6.0% | 0.91% | −0.06 |
| UBER Uber Technologies Inc. | Reduce -10.4% | 0.97% | −0.06 |
| WMG Warner Music Group Corp. Class A | Sold out | 0.00% | −0.06 |
| JPM JPMorgan Chase & Co. | Reduce -16.7% | 2.06% | −0.06 |
| NSP Insperity Inc. | Reduce -63.1% | 0.08% | −0.05 |
| WFC Wells Fargo & Co. | Reduce -10.2% | 2.36% | −0.05 |
| LGN Legence Corp. Class A | Sold out | 0.00% | −0.05 |
| MUX McEwen Inc. | Reduce -41.9% | 0.05% | −0.04 |
| FANG Diamondback Energy Inc. | Reduce -45.7% | 0.04% | −0.04 |
| KSPI JSC Kaspi.kz ADR | Sold out | 0.00% | −0.03 |
| AME Ametek Inc. | Reduce -26.0% | 0.24% | −0.03 |
| ESQ Esquire Financial Holdings I | Reduce -19.5% | 0.47% | −0.03 |
| DFIN Donnelley Financial Solution | Reduce -18.1% | 0.10% | −0.03 |
| IBKR Interactive Brokers Gro Class A | Reduce -39.6% | 0.13% | −0.03 |
| MLM Martin Marietta Materials | Reduce -5.5% | 0.95% | −0.03 |
| AON Aon PLC Class A | Reduce -8.3% | 2.64% | −0.03 |
| VG Venture Global Inc. Class A | Reduce -7.2% | 0.05% | −0.02 |
Portfolio Buys Q1 2026 → Q2 2026
| NVDA Nvidia Corp. | Add +223.6% | 4.19% | +3.11 |
| AEP American Electric Power | Add +71.1% | 2.12% | +0.99 |
| COR Cencora Inc. | Add +44.4% | 2.86% | +0.77 |
| TSEM Tower Semiconductor Ltd. | Add +7.6% | 1.84% | +0.74 |
| VMI Valmont Industries | New | 0.45% | +0.45 |
| MCK McKesson Corp. | Add +110.6% | 0.93% | +0.45 |
| VEEV Veeva Systems Inc. Class A | Add +6368.7% | 0.43% | +0.42 |
| SKM SK Telecom Co. Ltd.-Spon ADR | New | 0.37% | +0.37 |
| TXN Texas Instruments Inc. | Add +2.2% | 0.91% | +0.36 |
| AVGO Broadcom Inc. | New | 0.33% | +0.33 |
| ABBV Abbvie Inc. | Add +39.2% | 0.74% | +0.30 |
| LITE Lumentum Holdings Inc. | Add +549.3% | 0.34% | +0.30 |
| AAON Aaon Inc. | Add +0.8% | 0.74% | +0.28 |
| NOVT Novanta Inc. | Add +22.3% | 0.65% | +0.28 |
| CGNX Cognex Corp. | Add +10.0% | 0.64% | +0.27 |
| NOW ServiceNow Inc. | New | 0.23% | +0.23 |
| FORM Formfactor Inc. | New | 0.22% | +0.22 |
| VRSK Verisk Analytics Inc. | Add +62.7% | 0.57% | +0.22 |
| WCC Wesco International Inc. | New | 0.18% | +0.18 |
| ADSK Autodesk Inc. | New | 0.17% | +0.17 |
| SPGI S&P Global Inc. | Add +11.9% | 1.19% | +0.13 |
| KLAC KLA Corp. | Add +13.4% | 0.22% | +0.13 |
| RXO Rxo Inc. | New | 0.12% | +0.12 |
| MDLN Medline Inc. Class A | Add +128.8% | 0.23% | +0.12 |
| TER Teradyne Inc. | New | 0.12% | +0.12 |
| IPAR Interparfums Inc. | Add +24.2% | 0.29% | +0.11 |
| VRT Vertiv Holdings Co. Class A | Add +119.6% | 0.16% | +0.11 |
| XPEL Xpel Inc. | New | 0.10% | +0.10 |
| GLBE Global-E Online Ltd. | New | 0.08% | +0.08 |
| CART Maplebear Inc. | New | 0.07% | +0.07 |
| TWST Twist Bioscience Corp. | New | 0.07% | +0.07 |
| DORM Dorman Products Inc. | Add +1.1% | 0.24% | +0.07 |
| FND Floor & Decor Holdings Inc. Class A | New | 0.06% | +0.06 |
| TBBB BBB Foods Inc. Class A | New | 0.06% | +0.06 |
| MTRN Materion Corp. | New | 0.05% | +0.05 |
| WMS Advanced Drainage Systems Inc. | Add +68.7% | 0.10% | +0.05 |
| LMT Lockheed Martin Corp. | New | 0.05% | +0.05 |
| SFM Sprouts Farmers Market Inc. | Add +48.8% | 0.11% | +0.04 |
| FIX Comfort Systems USA Inc. | Add +25.8% | 0.09% | +0.04 |
| PARR Par Pacific Holdings Inc. | New | 0.04% | +0.04 |
| GTX Garrett Motion Inc. | Add +27.6% | 0.06% | +0.04 |
| PEGA Pegasystems Inc. | New | 0.03% | +0.03 |
| LPLA LPL Financial Holdings Inc. | Add +31.9% | 0.12% | +0.03 |
| VIST Vista Energy Sab DE CV | New | 0.03% | +0.03 |
| CSW CSW Industrials Inc. | Add +62.6% | 0.06% | +0.03 |
| XPO Xpo Inc. | Add +43.0% | 0.07% | +0.02 |
| GNRC Generac Holdings Inc. | New | 0.01% | +0.01 |
| SAIA Saia Inc. | Add +5.3% | 0.06% | +0.01 |
| SE Sea Ltd.-ADR | Add +64.0% | 0.02% | +0.01 |
| BCO The Brink's Co. | Add +97.9% | 0.02% | +0.01 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 142 | $14.7B | GOOG, AMZN, MSFT, SHEL, NVDA |
| Q1 2026 | 126 | $15.4B | GOOG, MSFT, AMZN, SHEL, MRSH |
| Q4 2025 | 125 | $17.9B | MSFT, GOOG, AMZN, MRSH, V |
| Q3 2025 | 110 | $19.3B | MSFT, GOOG, AMZN, MRSH, AON |
| Q2 2025 | 110 | $19.7B | MSFT, MRSH, AON, GOOG, BKNG |
| Q1 2025 | 105 | $20.7B | MRSH, AON, MSFT, UNH, GOOG |
| Q4 2024 | 100 | $22.0B | AON, MSFT, MRSH, GOOG, UNH |
| Q3 2024 | 101 | $21.9B | MRSH, AON, MSFT, UNH, GOOG |
| Q2 2024 | 105 | $21.1B | MRSH, MSFT, AON, UNH, GOOG |
| Q1 2024 | 105 | $21.6B | MRSH, AON, MSFT, UNH, APH |