Montrusco Bolton Investments Inc.
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 29, 2026), Montrusco Bolton Investments Inc. reported 73 stock positions worth $8.0 billion. Its top holding was Microsoft (MSFT) at 9.5% of the portfolio, followed by Nvidia (NVDA, 9.0%) and Alphabet Class A (GOOGL, 6.6%). Compared with Q3 2025, it opened 5 new positions, sold out of 10, added to 20 and reduced 46. The biggest buy was Zoetis (ZTS, shares +257%) and the biggest sale BlackRock (BLK, shares −26%).
- Most Recent 13F
- Q2 2026
- Location
- MONTREAL, A8
- CIK
- 0001475940
- Portfolio Value
- $8.0B (Q4 2025)
- SEC Filing
- 0001475940-26-000001 ↗ filed Jan 29, 2026
Holdings Value
Holdings 73 stocks · $8.0B
| MSFT Microsoft Corp. | 9.46% | 1,613,524 | $759.5M | Reduce -6.1% |
| NVDA Nvidia Corp. | 9.01% | 3,990,992 | $722.9M | Reduce -5.0% |
| GOOGL Alphabet Inc. Class A | 6.64% | 1,738,855 | $533.2M | Reduce -12.2% |
| AMZN Amazon.com Inc. | 5.96% | 2,124,958 | $478.2M | Reduce -10.3% |
| WCN Waste Connections Inc. | 4.96% | 2,345,566 | $397.9M | Add +4.1% |
| DHR Danaher Corp. | 4.01% | 1,444,568 | $321.5M | Reduce -10.4% |
| JPM JPMorgan Chase & Co. | 3.90% | 1,005,426 | $313.3M | Reduce -26.6% |
| META Meta Platforms Inc. Class A | 3.67% | 457,439 | $294.5M | Reduce -15.9% |
| ZTS Zoetis Inc. | 3.33% | 2,168,078 | $266.9M | Add +256.7% |
| MNST Monster Beverage Corp. | 3.32% | 3,539,158 | $266.5M | Add +3.7% |
| BLK BlackRock Inc. | 3.24% | 247,965 | $260.2M | Reduce -25.6% |
| RYAN Ryan Specialty Holdings Inc. | 2.72% | 4,343,116 | $218.0M | Add +9.3% |
| AAPL Apple Inc. | 2.69% | 793,410 | $215.7M | Reduce -15.0% |
| MA Mastercard Inc. Class A | 2.67% | 382,750 | $214.2M | Add +24.0% |
| SNPS Synopsys Inc. | 2.59% | 451,599 | $207.6M | Reduce -15.9% |
| TSM Taiwan Semiconductor-SP ADR | 2.50% | 698,967 | $200.4M | Reduce -1.3% |
| CMG Chipotle Mexican Grill Inc. | 2.37% | 5,289,270 | $190.3M | Reduce -18.0% |
| VLO Valero Energy Corp. | 2.23% | 1,100,912 | $179.2M | Reduce -12.3% |
| UBER Uber Technologies Inc. | 2.06% | 2,086,619 | $165.0M | Reduce -17.4% |
| PSA Public Storage | 2.00% | 635,726 | $160.2M | Reduce -10.6% |
| SHW The Sherwin-Williams Co. | 1.53% | 387,679 | $122.9M | Reduce -7.7% |
| IDXX Idexx Laboratories Inc. | 1.46% | 176,932 | $117.1M | Reduce -23.8% |
| APG Api Group Corp. | 1.44% | 3,090,155 | $115.3M | Add +110.8% |
| ROL Rollins Inc. | 1.35% | 1,857,978 | $108.5M | Reduce -49.0% |
| ADBE Adobe Inc. | 1.34% | 318,040 | $107.2M | Reduce -12.3% |
| LRCX Lam Research Corp. | 1.30% | 626,819 | $104.2M | Reduce -35.7% |
| AVGO Broadcom Inc. | 1.23% | 285,740 | $98.9M | New |
| FTNT Fortinet Inc. | 1.22% | 1,228,784 | $97.6M | Reduce -0.7% |
| WMT Walmart Inc. | 0.83% | 598,835 | $66.7M | Add +6.5% |
| TSCO Tractor Supply Company | 0.80% | 1,285,595 | $64.3M | Add +28.5% |
| RY Royal Bank of Canada | 0.61% | 285,473 | $48.7M | Reduce -17.6% |
| GIB Cgi Inc. | 0.60% | 518,394 | $47.9M | Add +10.8% |
| TD Toronto-Dominion Bank | 0.44% | 374,003 | $35.3M | Reduce -23.1% |
| TFII Tfi International Inc. | 0.39% | 299,155 | $31.0M | Add +12.1% |
| FSV Firstservice Corp. | 0.37% | 190,823 | $29.7M | Add +89.4% |
| AEM Agnico Eagle Mines Ltd. | 0.36% | 171,124 | $29.1M | Reduce -11.7% |
| BMO Bank of Montreal filed as BANK MONTREAL QUE | 0.34% | 208,443 | $27.1M | Reduce -8.2% |
| WPM Wheaton Precious Metals Corp. | 0.29% | 194,388 | $22.9M | Reduce -16.9% |
| SU Suncor Energy Inc. | 0.27% | 494,481 | $22.0M | Reduce -14.9% |
| AGI Alamos Gold Inc. Class A | 0.25% | 512,247 | $19.8M | Reduce -6.5% |
| CNI Canadian Natl Railway Co. | 0.24% | 197,993 | $19.6M | Reduce -1.1% |
| DOO BRP Inc./Ca- Sub Voting | 0.24% | 269,343 | $19.1M | Reduce -15.3% |
| CIGI Colliers Intl GR-Subord Vot | 0.24% | 129,177 | $19.0M | Reduce -4.9% |
| RBA RB Global Inc. | 0.22% | 167,410 | $17.3M | Reduce -9.4% |
| CAE Cae Inc. | 0.21% | 565,500 | $17.2M | No change |
| DSGX The Descartes Systems Grp | 0.21% | 192,740 | $16.9M | Add +50.6% |
| BAM Brookfield Asset Mgmt-A | 0.21% | 321,897 | $16.9M | Reduce -2.3% |
| GIL Gildan Activewear Inc. | 0.19% | 245,900 | $15.4M | Add +1.6% |
| CBZ Cbiz Inc. | 0.19% | 295,121 | $14.9M | Add +6.6% |
| ERO Ero Copper Corp. | 0.18% | 509,963 | $14.4M | Reduce -33.4% |
| ORLA Orla Mining Ltd. filed as ORLA MNG LTD NEW | 0.18% | 1,071,537 | $14.4M | New |
| TASEKO MINES LTD | 0.17% | 2,454,659 | $13.9M | Reduce -15.1% |
| EXK Endeavour Silver Corp. | 0.16% | 1,402,392 | $13.2M | Add +15.5% |
| SLF Sun Life Financial Inc. | 0.16% | 203,469 | $12.7M | Reduce -32.8% |
| GRTUF Granite Real Estate Investme | 0.16% | 210,254 | $12.5M | Reduce -16.6% |
| EGO Eldorado Gold Corp. | 0.15% | 341,707 | $12.3M | Reduce -4.3% |
| BNT Brookfield Wealth Solutions | 0.14% | 234,974 | $10.8M | Add +16.5% |
| CNM Core & Main Inc. Class A | 0.11% | 171,615 | $8.9M | Add +2.4% |
| CCJ Cameco Corp. | 0.11% | 96,167 | $8.8M | New |
| PBA Pembina Pipeline Corp. | 0.11% | 229,490 | $8.8M | Reduce -17.8% |
| POOL Pool Corp. | 0.09% | 32,295 | $7.4M | Add +20.8% |
| OTEX Open Text Corp. | 0.09% | 218,938 | $7.1M | New |
| ATS Ats Corp. | 0.09% | 254,681 | $7.0M | Reduce -10.3% |
| ENB Enbridge Inc. | 0.08% | 139,459 | $6.7M | Reduce -71.4% |
| SHOP Shopify Inc. Class A | 0.08% | 38,112 | $6.1M | Reduce -14.2% |
| SPSC SPS Commerce Inc. | 0.07% | 63,300 | $5.6M | Add +28.2% |
| UFPT Ufp Technologies Inc. | 0.06% | 20,329 | $4.5M | Reduce -36.8% |
| BN Brookfield Corp. | 0.05% | 88,351 | $4.1M | Add +7.0% |
| TRI Thomson Reuters Corp. | 0.05% | 29,041 | $3.8M | Reduce -22.9% |
| EQX Equinox Gold Corp. | 0.03% | 159,274 | $2.2M | New |
| PG The Procter & Gamble Co. | 0.02% | 9,231 | $1.3M | Reduce -37.4% |
| LSPD Lightspeed Commerce Inc. | 0.01% | 39,000 | $471K | No change |
| CP Canadian Pacific Kansas City | 0.00% | 2,755 | $203K | Reduce -87.6% |
Portfolio Sells Q3 2025 → Q4 2025
| BLK BlackRock Inc. | Reduce -25.6% | 3.24% | −1.17 |
| ROL Rollins Inc. | Reduce -49.0% | 1.35% | −1.04 |
| JPM JPMorgan Chase & Co. | Reduce -26.6% | 3.90% | −0.97 |
| META Meta Platforms Inc. Class A | Reduce -15.9% | 3.67% | −0.87 |
| UBER Uber Technologies Inc. | Reduce -17.4% | 2.06% | −0.75 |
| MSFT Microsoft Corp. | Reduce -6.1% | 9.46% | −0.65 |
| LLY Eli Lilly & Co. | Sold out | 0.00% | −0.63 |
| CMG Chipotle Mexican Grill Inc. | Reduce -18.0% | 2.37% | −0.49 |
| SYY Sysco Corp. | Sold out | 0.00% | −0.47 |
| SNPS Synopsys Inc. | Reduce -15.9% | 2.59% | −0.42 |
| PSA Public Storage | Reduce -10.6% | 2.00% | −0.33 |
| VLO Valero Energy Corp. | Reduce -12.3% | 2.23% | −0.25 |
| IDXX Idexx Laboratories Inc. | Reduce -23.8% | 1.46% | −0.23 |
| ENB Enbridge Inc. | Reduce -71.4% | 0.08% | −0.20 |
| LRCX Lam Research Corp. | Reduce -35.7% | 1.30% | −0.19 |
| OR Or Royalties Inc. | Sold out | 0.00% | −0.16 |
| SHW The Sherwin-Williams Co. | Reduce -7.7% | 1.53% | −0.13 |
| USAS Americas Gold and Silver Cor | Sold out | 0.00% | −0.12 |
| NGD New Gold Inc. | Sold out | 0.00% | −0.11 |
| ADBE Adobe Inc. | Reduce -12.3% | 1.34% | −0.10 |
| NFLX Netflix Inc. | Sold out | 0.00% | −0.10 |
| TU Telus Corp. | Sold out | 0.00% | −0.09 |
| AAPL Apple Inc. | Reduce -15.0% | 2.69% | −0.08 |
| BIP Brookfield Infrastructure Pa | Sold out | 0.00% | −0.05 |
| SLF Sun Life Financial Inc. | Reduce -32.8% | 0.16% | −0.05 |
| NOW ServiceNow Inc. | Sold out | 0.00% | −0.03 |
| PBA Pembina Pipeline Corp. | Reduce -17.8% | 0.11% | −0.02 |
| TRI Thomson Reuters Corp. | Reduce -22.9% | 0.05% | −0.02 |
| WPM Wheaton Precious Metals Corp. | Reduce -16.9% | 0.29% | −0.02 |
| UFPT Ufp Technologies Inc. | Reduce -36.8% | 0.06% | −0.02 |
| RBA RB Global Inc. | Reduce -9.4% | 0.22% | −0.02 |
| AEM Agnico Eagle Mines Ltd. | Reduce -11.7% | 0.36% | −0.02 |
| SAND Sandstorm Gold Ltd. | Sold out | 0.00% | −0.02 |
| CP Canadian Pacific Kansas City | Reduce -87.6% | 0.00% | −0.02 |
| TD Toronto-Dominion Bank | Reduce -23.1% | 0.44% | −0.01 |
| CIGI Colliers Intl GR-Subord Vot | Reduce -4.9% | 0.24% | −0.01 |
| PG The Procter & Gamble Co. | Reduce -37.4% | 0.02% | −0.01 |
| SU Suncor Energy Inc. | Reduce -14.9% | 0.27% | −0.01 |
| BAM Brookfield Asset Mgmt-A | Reduce -2.3% | 0.21% | −0.01 |
| BMO Bank of Montreal | Reduce -8.2% | 0.34% | −0.01 |
| GRTUF Granite Real Estate Investme | Reduce -16.6% | 0.16% | −0.01 |
| ERO Ero Copper Corp. | Reduce -33.4% | 0.18% | −0.00 |
| SHOP Shopify Inc. Class A | Reduce -14.2% | 0.08% | −0.00 |
| ATS Ats Corp. | Reduce -10.3% | 0.09% | +0.00 |
| FTNT Fortinet Inc. | Reduce -0.7% | 1.22% | +0.01 |
| DOO BRP Inc./Ca- Sub Voting | Reduce -15.3% | 0.24% | +0.01 |
| RY Royal Bank of Canada | Reduce -17.6% | 0.61% | +0.01 |
| AGI Alamos Gold Inc. Class A | Reduce -6.5% | 0.25% | +0.02 |
| CNI Canadian Natl Railway Co. | Reduce -1.1% | 0.24% | +0.02 |
| TASEKO MINES LTD | Reduce -15.1% | 0.17% | +0.03 |
Portfolio Buys Q3 2025 → Q4 2025
| ZTS Zoetis Inc. | Add +256.7% | 3.33% | +2.29 |
| AVGO Broadcom Inc. | New | 1.23% | +1.23 |
| APG Api Group Corp. | Add +110.8% | 1.44% | +0.85 |
| MNST Monster Beverage Corp. | Add +3.7% | 3.32% | +0.69 |
| MA Mastercard Inc. Class A | Add +24.0% | 2.67% | +0.66 |
| WCN Waste Connections Inc. | Add +4.1% | 4.96% | +0.49 |
| RYAN Ryan Specialty Holdings Inc. | Add +9.3% | 2.72% | +0.18 |
| ORLA Orla Mining Ltd. | New | 0.18% | +0.18 |
| WMT Walmart Inc. | Add +6.5% | 0.83% | +0.16 |
| FSV Firstservice Corp. | Add +89.4% | 0.37% | +0.15 |
| TSCO Tractor Supply Company | Add +28.5% | 0.80% | +0.14 |
| TFII Tfi International Inc. | Add +12.1% | 0.39% | +0.11 |
| GIB Cgi Inc. | Add +10.8% | 0.60% | +0.11 |
| CCJ Cameco Corp. | New | 0.11% | +0.11 |
| OTEX Open Text Corp. | New | 0.09% | +0.09 |
| DSGX The Descartes Systems Grp | Add +50.6% | 0.21% | +0.07 |
| EXK Endeavour Silver Corp. | Add +15.5% | 0.16% | +0.05 |
| GIL Gildan Activewear Inc. | Add +1.6% | 0.19% | +0.03 |
| EQX Equinox Gold Corp. | New | 0.03% | +0.03 |
| BNT Brookfield Wealth Solutions | Add +16.5% | 0.14% | +0.03 |
| CBZ Cbiz Inc. | Add +6.6% | 0.19% | +0.01 |
| SPSC SPS Commerce Inc. | Add +28.2% | 0.07% | +0.01 |
| BN Brookfield Corp. | Add +7.0% | 0.05% | +0.01 |
| CNM Core & Main Inc. Class A | Add +2.4% | 0.11% | +0.01 |
| POOL Pool Corp. | Add +20.8% | 0.09% | −0.00 |
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 |