Montrusco Bolton Investments Inc.
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed April 30, 2024), Montrusco Bolton Investments Inc. reported 58 stock positions worth $9.4 billion. Its top holding was Microsoft (MSFT) at 9.9% of the portfolio, followed by Mastercard Class A (MA, 5.9%) and Nvidia (NVDA, 5.5%). Compared with Q4 2023, it opened 3 new positions, sold out of 7, added to 25 and reduced 30. The biggest buy was Rollins (ROL, shares +762%) and the biggest sale Walmart (WMT, shares −87%).
- Most Recent 13F
- Q2 2026
- Location
- MONTREAL, A8
- CIK
- 0001475940
- Portfolio Value
- $9.4B (Q1 2024)
- SEC Filing
- 0001085146-24-002121 ↗ filed Apr 30, 2024
Holdings Value
Holdings 58 stocks · $9.4B
| MSFT Microsoft Corp. | 9.86% | 2,244,564 | $926.0M | Add +10.4% |
| MA Mastercard Inc. Class A | 5.90% | 1,173,140 | $554.1M | Add +32.5% |
| NVDA Nvidia Corp. | 5.51% | 581,624 | $517.7M | Reduce -18.1% |
| GOOGL Alphabet Inc. Class A | 5.42% | 3,446,098 | $509.4M | Add +24.8% |
| AMGN Amgen Inc. | 5.34% | 1,811,754 | $501.8M | Add +60.6% |
| ADBE Adobe Inc. | 4.76% | 903,347 | $446.9M | Add +52.8% |
| ROL Rollins Inc. | 4.47% | 9,299,958 | $420.3M | Add +762.5% |
| AMZN Amazon.com Inc. | 4.01% | 2,120,378 | $376.4M | Reduce -7.5% |
| VLO Valero Energy Corp. | 3.94% | 2,167,262 | $369.9M | Reduce -9.3% |
| FIVE Five Below | 3.76% | 1,988,495 | $353.4M | Add +33.2% |
| META Meta Platforms Inc. Class A | 3.70% | 733,836 | $347.9M | Reduce -24.1% |
| MRSH Marsh & McLennan Cos | 3.67% | 1,708,923 | $345.3M | Add +15.8% |
| DHR Danaher Corp. | 3.62% | 1,382,120 | $339.8M | Reduce -3.6% |
| WDAY Workday Inc. Class A | 3.52% | 1,238,590 | $330.8M | Add +3.4% |
| WCN Waste Connections Inc. | 3.41% | 1,903,911 | $320.5M | Reduce -32.2% |
| SYY Sysco Corp. | 2.97% | 3,511,745 | $278.8M | New |
| PSA Public Storage | 2.62% | 867,856 | $245.9M | Add +16.7% |
| CME Cme Group Inc. | 2.08% | 925,126 | $195.1M | Add +7.1% |
| AAPL Apple Inc. | 1.99% | 1,092,503 | $187.3M | Reduce -9.4% |
| TXN Texas Instruments Inc. | 1.82% | 1,004,261 | $170.7M | Add +17.2% |
| LULU Lululemon Athletica Inc. | 1.51% | 362,907 | $141.8M | Add +5772.3% |
| RY Royal Bank of Canada | 1.46% | 1,356,992 | $137.0M | Add +0.4% |
| CRL Charles River Laboratories | 1.41% | 489,751 | $132.7M | Reduce -32.2% |
| CNQ Canadian Natural Resources | 1.06% | 1,302,218 | $99.4M | Add +1.7% |
| ENB Enbridge Inc. | 1.02% | 2,636,543 | $95.4M | Add +5.1% |
| SHW The Sherwin-Williams Co. | 0.97% | 261,782 | $90.9M | New |
| TD Toronto-Dominion Bank | 0.94% | 1,457,402 | $88.0M | Reduce -3.3% |
| LW Lamb Weston Holdings Inc. | 0.86% | 759,303 | $80.9M | Add +6.4% |
| CNI Canadian Natl Railway Co. | 0.85% | 606,128 | $79.9M | Reduce -66.9% |
| CFR Cullen/Frost Bankers Inc. | 0.85% | 709,495 | $79.9M | Add +8.1% |
| ZTS Zoetis Inc. | 0.74% | 409,357 | $69.3M | Add +23.9% |
| BAM Brookfield Asset Mgmt-A | 0.65% | 1,445,870 | $60.8M | Add +14.9% |
| BIP Brookfield Infrastructure Pa | 0.59% | 1,763,482 | $55.1M | Add +16.1% |
| GRP.U Granite Real Estate Investme | 0.47% | 767,994 | $43.9M | Reduce -0.9% |
| FNV Franco-Nevada Corp. | 0.46% | 365,692 | $43.6M | Reduce -15.0% |
| WPM Wheaton Precious Metals Corp. | 0.45% | 905,730 | $42.7M | Reduce -5.4% |
| WMT Walmart Inc. | 0.41% | 641,530 | $38.6M | Reduce -87.4% |
| TU Telus Corp. | 0.39% | 2,275,484 | $36.4M | Add +1.2% |
| SLF Sun Life Financial Inc. | 0.36% | 627,294 | $34.3M | Reduce -0.8% |
| MTD Mettler-Toledo International | 0.30% | 21,048 | $28.0M | New |
| PG The Procter & Gamble Co. | 0.28% | 161,352 | $26.2M | Add +2.2% |
| EGO Eldorado Gold Corp. | 0.22% | 1,442,296 | $20.3M | Reduce -0.5% |
| BEP Brookfield Renewable Partner | 0.17% | 687,399 | $16.0M | Reduce -8.0% |
| CIGI Colliers Intl GR-Subord Vot | 0.15% | 118,403 | $14.5M | Add +0.3% |
| TFII Tfi International Inc. | 0.14% | 83,946 | $13.4M | Reduce -9.6% |
| TFPM Triple Flag Precious Met | 0.14% | 921,347 | $13.3M | Add +5.3% |
| ERO Ero Copper Corp. | 0.14% | 671,014 | $13.0M | Reduce -20.6% |
| OR Osisko Gold Royalties Ltd. | 0.13% | 714,817 | $11.7M | Reduce -16.4% |
| FSV Firstservice Corp. | 0.12% | 70,720 | $11.7M | Reduce -1.1% |
| TRI Thomson Reuters Corp. | 0.10% | 57,536 | $9.0M | Reduce -0.4% |
| ENPH Enphase Energy Inc. | 0.08% | 59,359 | $7.2M | Reduce -9.4% |
| BNT Brookfield Reins Ltd. | 0.07% | 153,373 | $6.5M | Reduce -0.5% |
| BN Brookfield Corp. | 0.05% | 104,209 | $4.4M | Reduce -1.9% |
| DSGX The Descartes Systems Grp | 0.04% | 39,864 | $3.6M | Reduce -1.3% |
| SHOP Shopify Inc. Class A | 0.03% | 35,092 | $2.7M | Reduce -5.9% |
| CP Canadian Pacific Kansas City | 0.02% | 24,715 | $2.2M | Reduce -5.6% |
| GIB Cgi Inc. | 0.02% | 18,490 | $2.0M | Reduce -9.6% |
| BBU Brookfield Business PT-Unit | 0.01% | 55,662 | $1.2M | Reduce -6.2% |
Portfolio Sells Q4 2023 → Q1 2024
| WMT Walmart Inc. | Reduce -87.4% | 0.41% | −2.82 |
| CNI Canadian Natl Railway Co. | Reduce -66.9% | 0.85% | −2.01 |
| WCN Waste Connections Inc. | Reduce -32.2% | 3.41% | −1.67 |
| TJX TJX Companies Inc. | Sold out | 0.00% | −1.39 |
| VLTO Veralto Corp. | Sold out | 0.00% | −1.27 |
| LIN Linde PLC | Sold out | 0.00% | −0.90 |
| AAPL Apple Inc. | Reduce -9.4% | 1.99% | −0.89 |
| CRL Charles River Laboratories | Reduce -32.2% | 1.41% | −0.66 |
| META Meta Platforms Inc. Class A | Reduce -24.1% | 3.70% | −0.45 |
| ROK Rockwell Automation Inc. | Sold out | 0.00% | −0.44 |
| DHR Danaher Corp. | Reduce -3.6% | 3.62% | −0.43 |
| TD Toronto-Dominion Bank | Reduce -3.3% | 0.94% | −0.28 |
| AMZN Amazon.com Inc. | Reduce -7.5% | 4.01% | −0.21 |
| WPM Wheaton Precious Metals Corp. | Reduce -5.4% | 0.45% | −0.13 |
| FNV Franco-Nevada Corp. | Reduce -15.0% | 0.46% | −0.13 |
| GRP.U Granite Real Estate Investme | Reduce -0.9% | 0.47% | −0.09 |
| BEP Brookfield Renewable Partner | Reduce -8.0% | 0.17% | −0.07 |
| SLF Sun Life Financial Inc. | Reduce -0.8% | 0.36% | −0.04 |
| ENPH Enphase Energy Inc. | Reduce -9.4% | 0.08% | −0.03 |
| ERO Ero Copper Corp. | Reduce -20.6% | 0.14% | −0.03 |
| OR Osisko Gold Royalties Ltd. | Reduce -16.4% | 0.13% | −0.03 |
| FSV Firstservice Corp. | Reduce -1.1% | 0.12% | −0.02 |
| EGO Eldorado Gold Corp. | Reduce -0.5% | 0.22% | −0.02 |
| TFII Tfi International Inc. | Reduce -9.6% | 0.14% | −0.01 |
| XJR Ishr ESG SS S&P Smal-Cap-Usd | Sold out | 0.00% | −0.01 |
| TRI Thomson Reuters Corp. | Reduce -0.4% | 0.10% | −0.01 |
| BNT Brookfield Reins Ltd. | Reduce -0.5% | 0.07% | −0.01 |
| SHOP Shopify Inc. Class A | Reduce -5.9% | 0.03% | −0.01 |
| BN Brookfield Corp. | Reduce -1.9% | 0.05% | −0.01 |
| GIB Cgi Inc. | Reduce -9.6% | 0.02% | −0.01 |
| DSGX The Descartes Systems Grp | Reduce -1.3% | 0.04% | −0.00 |
| REET iShares Global REIT ETF | Sold out | 0.00% | −0.00 |
| IGF iShares Global Infrastructur | Sold out | 0.00% | −0.00 |
| CP Canadian Pacific Kansas City | Reduce -5.6% | 0.02% | −0.00 |
| BBU Brookfield Business PT-Unit | Reduce -6.2% | 0.01% | −0.00 |
| VLO Valero Energy Corp. | Reduce -9.3% | 3.94% | +0.08 |
| NVDA Nvidia Corp. | Reduce -18.1% | 5.51% | +1.23 |
Portfolio Buys Q4 2023 → Q1 2024
| ROL Rollins Inc. | Add +762.5% | 4.47% | +3.89 |
| SYY Sysco Corp. | New | 2.97% | +2.97 |
| LULU Lululemon Athletica Inc. | Add +5772.3% | 1.51% | +1.47 |
| AMGN Amgen Inc. | Add +60.6% | 5.34% | +1.38 |
| MA Mastercard Inc. Class A | Add +32.5% | 5.90% | +1.31 |
| SHW The Sherwin-Williams Co. | New | 0.97% | +0.97 |
| GOOGL Alphabet Inc. Class A | Add +24.8% | 5.42% | +0.75 |
| MSFT Microsoft Corp. | Add +10.4% | 9.86% | +0.55 |
| ADBE Adobe Inc. | Add +52.8% | 4.76% | +0.45 |
| MTD Mettler-Toledo International | New | 0.30% | +0.30 |
| MRSH Marsh & McLennan Cos | Add +15.8% | 3.67% | +0.27 |
| TXN Texas Instruments Inc. | Add +17.2% | 1.82% | +0.04 |
| BAM Brookfield Asset Mgmt-A | Add +14.9% | 0.65% | +0.02 |
| CNQ Canadian Natural Resources | Add +1.7% | 1.06% | +0.01 |
| TFPM Triple Flag Precious Met | Add +5.3% | 0.14% | −0.00 |
| PG The Procter & Gamble Co. | Add +2.2% | 0.28% | −0.01 |
| BIP Brookfield Infrastructure Pa | Add +16.1% | 0.59% | −0.01 |
| CIGI Colliers Intl GR-Subord Vot | Add +0.3% | 0.15% | −0.03 |
| CFR Cullen/Frost Bankers Inc. | Add +8.1% | 0.85% | −0.03 |
| ZTS Zoetis Inc. | Add +23.9% | 0.74% | −0.07 |
| LW Lamb Weston Holdings Inc. | Add +6.4% | 0.86% | −0.10 |
| FIVE Five Below | Add +33.2% | 3.76% | −0.10 |
| ENB Enbridge Inc. | Add +5.1% | 1.02% | −0.11 |
| TU Telus Corp. | Add +1.2% | 0.39% | −0.11 |
| PSA Public Storage | Add +16.7% | 2.62% | −0.13 |
| CME Cme Group Inc. | Add +7.1% | 2.08% | −0.14 |
| RY Royal Bank of Canada | Add +0.4% | 1.46% | −0.25 |
| WDAY Workday Inc. Class A | Add +3.4% | 3.52% | −0.48 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 80 | $6.5B | NVDA, GOOGL, MSFT, AMZN, JPM |
| Q1 2026 | 72 | $6.6B | NVDA, MSFT, GOOGL, AMZN, JPM |
| Q4 2025 | 73 | $8.0B | MSFT, NVDA, GOOGL, AMZN, WCN |
| Q3 2025 | 78 | $8.6B | MSFT, NVDA, AMZN, GOOGL, JPM |
| Q2 2025 | 75 | $9.0B | MSFT, NVDA, AMZN, META, JPM |
| Q1 2025 | 62 | $7.6B | MSFT, NVDA, AMZN, GOOGL, BLK |
| Q4 2024 | 61 | $8.3B | MSFT, NVDA, AMZN, GOOGL, MA |
| Q3 2024 | 62 | $9.5B | MSFT, NVDA, AMZN, MA, GOOGL |
| Q2 2024 | 58 | $9.5B | MSFT, NVDA, GOOGL, AMGN, AMZN |
| Q1 2024 | 58 | $9.4B | MSFT, MA, NVDA, GOOGL, AMGN |