Montrusco Bolton Investments Inc.
In its 13F for Q2 2024 (holdings as of June 30, 2024, filed July 24, 2024), Montrusco Bolton Investments Inc. reported 58 stock positions worth $9.5 billion. Its top holding was Microsoft (MSFT) at 10.8% of the portfolio, followed by Nvidia (NVDA, 6.6%) and Alphabet Class A (GOOGL, 5.9%). Compared with Q1 2024, it opened 1 new position, sold out of 1, added to 24 and reduced 33. The biggest buy was Cme (CME, shares +83%) and the biggest sale Mastercard Class A (MA, shares −34%).
- Most Recent 13F
- Q2 2026
- Location
- MONTREAL, A8
- CIK
- 0001475940
- Portfolio Value
- $9.5B (Q2 2024)
- SEC Filing
- 0001085146-24-003183 ↗ filed Jul 24, 2024
Holdings Value
Holdings 58 stocks · $9.5B
| MSFT Microsoft Corp. | 10.78% | 2,352,602 | $1.0B | Add +4.8% |
| NVDA Nvidia Corp. | 6.57% | 5,165,528 | $626.6M | Reduce -11.2% |
| GOOGL Alphabet Inc. Class A | 5.92% | 3,172,344 | $564.4M | Reduce -7.9% |
| AMGN Amgen Inc. | 4.99% | 1,557,709 | $475.4M | Reduce -14.0% |
| AMZN Amazon.com Inc. | 4.68% | 2,351,980 | $446.5M | Add +10.9% |
| ADBE Adobe Inc. | 4.44% | 779,164 | $423.2M | Reduce -13.8% |
| ROL Rollins Inc. | 4.12% | 8,242,775 | $392.5M | Reduce -11.4% |
| VLO Valero Energy Corp. | 3.92% | 2,382,234 | $373.4M | Add +9.9% |
| META Meta Platforms Inc. Class A | 3.72% | 719,179 | $354.8M | Reduce -2.0% |
| WCN Waste Connections Inc. | 3.59% | 1,993,720 | $341.9M | Add +4.7% |
| MA Mastercard Inc. Class A | 3.51% | 775,747 | $335.0M | Reduce -33.9% |
| MRSH Marsh & McLennan Cos | 3.50% | 1,618,461 | $333.9M | Reduce -5.3% |
| CME Cme Group Inc. | 3.41% | 1,693,799 | $325.1M | Add +83.1% |
| DHR Danaher Corp. | 3.36% | 1,308,213 | $320.0M | Reduce -5.3% |
| WDAY Workday Inc. Class A | 3.33% | 1,451,896 | $317.8M | Add +17.2% |
| SYY Sysco Corp. | 3.23% | 4,415,256 | $307.6M | Add +25.7% |
| FIVE Five Below | 2.61% | 2,329,565 | $248.4M | Add +17.1% |
| PSA Public Storage | 2.47% | 838,945 | $235.9M | Reduce -3.3% |
| AAPL Apple Inc. | 2.39% | 1,081,030 | $227.7M | Reduce -1.1% |
| TXN Texas Instruments Inc. | 2.32% | 1,170,273 | $221.6M | Add +16.5% |
| MTD Mettler-Toledo International | 1.59% | 108,756 | $152.0M | Add +416.7% |
| LULU Lululemon Athletica Inc. | 1.34% | 426,374 | $127.4M | Add +17.5% |
| CFR Cullen/Frost Bankers Inc. | 1.17% | 1,097,403 | $111.5M | Add +54.7% |
| RY Royal Bank of Canada | 1.17% | 1,044,117 | $111.1M | Reduce -23.1% |
| ZTS Zoetis Inc. | 1.12% | 629,268 | $106.5M | Add +53.7% |
| ENB Enbridge Inc. | 0.95% | 2,545,725 | $90.5M | Reduce -3.4% |
| LW Lamb Weston Holdings Inc. | 0.91% | 1,027,618 | $86.4M | Add +35.3% |
| TD Toronto-Dominion Bank | 0.89% | 1,550,663 | $85.2M | Add +6.4% |
| CNQ Canadian Natural Resources | 0.89% | 2,391,130 | $85.2M | Reduce -8.2% |
| SHW The Sherwin-Williams Co. | 0.86% | 274,310 | $81.9M | Add +4.8% |
| CNI Canadian Natl Railway Co. | 0.73% | 585,950 | $69.2M | Reduce -3.3% |
| BAM Brookfield Asset Mgmt-A | 0.71% | 1,780,405 | $67.8M | Add +23.1% |
| FNV Franco-Nevada Corp. | 0.56% | 450,024 | $53.3M | Add +23.1% |
| BIP Brookfield Infrastructure Pa | 0.52% | 1,806,932 | $49.6M | Add +2.5% |
| ENPH Enphase Energy Inc. | 0.48% | 454,231 | $45.3M | Add +665.2% |
| WMT Walmart Inc. | 0.45% | 635,353 | $43.0M | Reduce -1.0% |
| WPM Wheaton Precious Metals Corp. | 0.43% | 783,606 | $41.1M | Reduce -13.5% |
| TU Telus Corp. | 0.35% | 2,215,174 | $33.5M | Reduce -2.6% |
| GRP.U Granite Real Estate Investme | 0.34% | 651,813 | $32.3M | Reduce -15.1% |
| PG The Procter & Gamble Co. | 0.27% | 154,700 | $25.5M | Reduce -4.1% |
| ERO Ero Copper Corp. | 0.14% | 636,724 | $13.6M | Reduce -5.1% |
| BEP Brookfield Renewable Partner | 0.14% | 548,865 | $13.6M | Reduce -20.1% |
| NGD New Gold Inc. | 0.14% | 6,610,621 | $13.0M | New |
| CIGI Colliers Intl GR-Subord Vot | 0.13% | 107,267 | $12.0M | Reduce -9.4% |
| TFII Tfi International Inc. | 0.12% | 75,660 | $11.0M | Reduce -9.9% |
| OR Osisko Gold Royalties Ltd. | 0.11% | 674,920 | $10.5M | Reduce -5.6% |
| EGO Eldorado Gold Corp. | 0.11% | 690,244 | $10.2M | Reduce -52.1% |
| TFPM Triple Flag Precious Met | 0.10% | 639,249 | $9.9M | Reduce -30.6% |
| FSV Firstservice Corp. | 0.10% | 64,126 | $9.8M | Reduce -9.3% |
| TRI Thomson Reuters Corp. | 0.10% | 55,482 | $9.4M | Reduce -3.6% |
| BNT Brookfield Reins Ltd. | 0.06% | 138,866 | $5.8M | Reduce -9.5% |
| BN Brookfield Corp. | 0.05% | 121,757 | $5.1M | Add +16.8% |
| DSGX The Descartes Systems Grp | 0.04% | 35,894 | $3.5M | Reduce -10.0% |
| SHOP Shopify Inc. Class A | 0.02% | 35,383 | $2.3M | Add +0.8% |
| CP Canadian Pacific Kansas City | 0.02% | 24,912 | $2.0M | Add +0.8% |
| GIB Cgi Inc. | 0.02% | 18,635 | $1.9M | Add +0.8% |
| BBU Brookfield Business PT-Unit | 0.01% | 45,502 | $862K | Reduce -18.3% |
| SLF Sun Life Financial Inc. | 0.01% | 11,093 | $544K | Reduce -98.2% |
Portfolio Sells Q1 2024 → Q2 2024
| MA Mastercard Inc. Class A | Reduce -33.9% | 3.51% | −2.38 |
| CRL Charles River Laboratories | Sold out | 0.00% | −1.41 |
| SLF Sun Life Financial Inc. | Reduce -98.2% | 0.01% | −0.36 |
| ROL Rollins Inc. | Reduce -11.4% | 4.12% | −0.36 |
| AMGN Amgen Inc. | Reduce -14.0% | 4.99% | −0.35 |
| ADBE Adobe Inc. | Reduce -13.8% | 4.44% | −0.32 |
| RY Royal Bank of Canada | Reduce -23.1% | 1.17% | −0.29 |
| DHR Danaher Corp. | Reduce -5.3% | 3.36% | −0.26 |
| MRSH Marsh & McLennan Cos | Reduce -5.3% | 3.50% | −0.17 |
| CNQ Canadian Natural Resources | Reduce -8.2% | 0.89% | −0.17 |
| PSA Public Storage | Reduce -3.3% | 2.47% | −0.14 |
| GRP.U Granite Real Estate Investme | Reduce -15.1% | 0.34% | −0.13 |
| CNI Canadian Natl Railway Co. | Reduce -3.3% | 0.73% | −0.12 |
| EGO Eldorado Gold Corp. | Reduce -52.1% | 0.11% | −0.11 |
| ENB Enbridge Inc. | Reduce -3.4% | 0.95% | −0.07 |
| TFPM Triple Flag Precious Met | Reduce -30.6% | 0.10% | −0.04 |
| TU Telus Corp. | Reduce -2.6% | 0.35% | −0.04 |
| CIGI Colliers Intl GR-Subord Vot | Reduce -9.4% | 0.13% | −0.03 |
| BEP Brookfield Renewable Partner | Reduce -20.1% | 0.14% | −0.03 |
| TFII Tfi International Inc. | Reduce -9.9% | 0.12% | −0.03 |
| WPM Wheaton Precious Metals Corp. | Reduce -13.5% | 0.43% | −0.02 |
| FSV Firstservice Corp. | Reduce -9.3% | 0.10% | −0.02 |
| OR Osisko Gold Royalties Ltd. | Reduce -5.6% | 0.11% | −0.01 |
| PG The Procter & Gamble Co. | Reduce -4.1% | 0.27% | −0.01 |
| BNT Brookfield Reins Ltd. | Reduce -9.5% | 0.06% | −0.01 |
| BBU Brookfield Business PT-Unit | Reduce -18.3% | 0.01% | −0.00 |
| DSGX The Descartes Systems Grp | Reduce -10.0% | 0.04% | −0.00 |
| TRI Thomson Reuters Corp. | Reduce -3.6% | 0.10% | +0.00 |
| ERO Ero Copper Corp. | Reduce -5.1% | 0.14% | +0.00 |
| META Meta Platforms Inc. Class A | Reduce -2.0% | 3.72% | +0.02 |
| WMT Walmart Inc. | Reduce -1.0% | 0.45% | +0.04 |
| AAPL Apple Inc. | Reduce -1.1% | 2.39% | +0.39 |
| GOOGL Alphabet Inc. Class A | Reduce -7.9% | 5.92% | +0.50 |
| NVDA Nvidia Corp. | Reduce -11.2% | 6.57% | +1.06 |
Portfolio Buys Q1 2024 → Q2 2024
| CME Cme Group Inc. | Add +83.1% | 3.41% | +1.33 |
| MTD Mettler-Toledo International | Add +416.7% | 1.59% | +1.30 |
| MSFT Microsoft Corp. | Add +4.8% | 10.78% | +0.93 |
| AMZN Amazon.com Inc. | Add +10.9% | 4.68% | +0.68 |
| TXN Texas Instruments Inc. | Add +16.5% | 2.32% | +0.51 |
| ENPH Enphase Energy Inc. | Add +665.2% | 0.48% | +0.40 |
| ZTS Zoetis Inc. | Add +53.7% | 1.12% | +0.38 |
| CFR Cullen/Frost Bankers Inc. | Add +54.7% | 1.17% | +0.32 |
| SYY Sysco Corp. | Add +25.7% | 3.23% | +0.26 |
| WCN Waste Connections Inc. | Add +4.7% | 3.59% | +0.18 |
| NGD New Gold Inc. | New | 0.14% | +0.14 |
| FNV Franco-Nevada Corp. | Add +23.1% | 0.56% | +0.10 |
| BAM Brookfield Asset Mgmt-A | Add +23.1% | 0.71% | +0.06 |
| LW Lamb Weston Holdings Inc. | Add +35.3% | 0.91% | +0.05 |
| BN Brookfield Corp. | Add +16.8% | 0.05% | +0.01 |
| GIB Cgi Inc. | Add +0.8% | 0.02% | −0.00 |
| CP Canadian Pacific Kansas City | Add +0.8% | 0.02% | −0.00 |
| SHOP Shopify Inc. Class A | Add +0.8% | 0.02% | −0.00 |
| VLO Valero Energy Corp. | Add +9.9% | 3.92% | −0.02 |
| TD Toronto-Dominion Bank | Add +6.4% | 0.89% | −0.04 |
| BIP Brookfield Infrastructure Pa | Add +2.5% | 0.52% | −0.07 |
| SHW The Sherwin-Williams Co. | Add +4.8% | 0.86% | −0.11 |
| LULU Lululemon Athletica Inc. | Add +17.5% | 1.34% | −0.17 |
| WDAY Workday Inc. Class A | Add +17.2% | 3.33% | −0.19 |
| FIVE Five Below | Add +17.1% | 2.61% | −1.16 |
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 |