Sprucegrove Investment Management Ltd.
In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 7, 2026), Sprucegrove Investment Management Ltd. reported 40 stock positions worth $639.1 million. Its top holding was Copa Class A (CPA) at 35.3% of the portfolio, followed by Ryanair Holdings PLC-SP ADR (RYAAY, 34.6%) and Samsung Electr-GDR Reg S (SSNHZ, 20.0%). Compared with Q1 2026, it sold out of 2 and reduced 32. The biggest sale was Ryanair Holdings PLC-SP ADR (RYAAY, shares −11%).
- Most Recent 13F
- Q2 2026
- Location
- TORONTO, A6
- CIK
- 0001234074
- Portfolio Value
- $639.1M (Q2 2026)
- SEC Filing
- 0001193125-26-339127 ↗ filed Aug 7, 2026
Holdings Value
Holdings 40 stocks · $639.1M
| CPA Copa Holdings SA Class A | 35.33% | 1,451,592 | $225.8M | Reduce -14.6% |
| RYAAY Ryanair Holdings PLC-SP ADR | 34.65% | 3,419,717 | $221.4M | Reduce -11.0% |
| SSNHZ Samsung Electr-GDR Reg S | 19.97% | 23,676 | $127.6M | Reduce -26.9% |
| DCI Donaldson Co. Inc. | 0.56% | 40,004 | $3.6M | Reduce -44.9% |
| HSIC Henry Schein Inc. filed as SCHEIN HENRY INC | 0.53% | 40,427 | $3.4M | Reduce -49.5% |
| MKL Markel Group Inc. | 0.49% | 1,604 | $3.1M | Reduce -48.1% |
| SNA Snap-on Inc. | 0.47% | 7,400 | $3.0M | Reduce -49.0% |
| GOOGL Alphabet Inc. Class A | 0.44% | 7,870 | $2.8M | Reduce -51.7% |
| EXP Eagle Materials Inc. | 0.43% | 12,310 | $2.8M | Reduce -26.9% |
| QCOM Qualcomm Inc. | 0.43% | 14,929 | $2.8M | Reduce -52.4% |
| DG Dollar General Corp. | 0.42% | 23,495 | $2.7M | Reduce -34.8% |
| CFR Cullen/Frost Bankers Inc. | 0.39% | 16,308 | $2.5M | Reduce -50.1% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.39% | 5,035 | $2.5M | Reduce -44.0% |
| GNTX Gentex Corp. | 0.39% | 99,334 | $2.5M | Reduce -47.4% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.38% | 25,541 | $2.5M | Reduce -47.4% |
| GILD Gilead Sciences Inc. | 0.37% | 18,900 | $2.4M | Reduce -50.1% |
| BF.B Brown-Forman Corp. Class B | 0.37% | 89,100 | $2.4M | Reduce -46.1% |
| JNJ Johnson & Johnson | 0.37% | 9,200 | $2.3M | Reduce -55.8% |
| XPEL Xpel Inc. | 0.36% | 46,300 | $2.3M | Reduce -28.6% |
| WFC Wells Fargo & Co. | 0.34% | 26,477 | $2.2M | Reduce -57.6% |
| TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC | 0.33% | 18,714 | $2.1M | Reduce -60.1% |
| XOM Exxon Mobil Corp. | 0.33% | 15,269 | $2.1M | Reduce -46.2% |
| CHRW C.H. Robinson Worldwide Inc. | 0.32% | 10,912 | $2.1M | Reduce -66.5% |
| TTC Toro Co. | 0.32% | 20,810 | $2.0M | Reduce -32.5% |
| AXP American Express Co. | 0.29% | 5,442 | $1.8M | Reduce -50.3% |
| MSFT Microsoft Corp. | 0.22% | 3,840 | $1.4M | Reduce -7.7% |
| ACN Accenture PLC Class A | 0.22% | 11,183 | $1.4M | Reduce -32.0% |
| NKE Nike Inc. Class B | 0.22% | 33,900 | $1.4M | Reduce -32.5% |
| META Meta Platforms Inc. Class A | 0.21% | 2,351 | $1.3M | Reduce -50.0% |
| BDX Becton Dickinson and Co. | 0.19% | 8,000 | $1.2M | Reduce -48.7% |
| LFUS Littelfuse Inc. | 0.04% | 570 | $260K | Reduce -18.6% |
| CGNX Cognex Corp. | 0.03% | 2,800 | $203K | Reduce -12.5% |
| BOKF Bok Financial Corporation | 0.03% | 1,400 | $194K | No change |
| AYI Acuity Inc. | 0.03% | 470 | $177K | No change |
| MSM MSC Industrial Direct Co. Class A | 0.03% | 1,400 | $167K | No change |
| LSTR Landstar System Inc. | 0.03% | 800 | $165K | No change |
| WAFD Wafd Inc. | 0.03% | 4,200 | $161K | No change |
| AX Axos Financial Inc. | 0.02% | 1,400 | $136K | No change |
| SSD Simpson Manufacturing Co. Inc. | 0.02% | 500 | $105K | No change |
| GGG Graco Inc. | 0.01% | 900 | $68K | No change |
Portfolio Sells Q1 2026 → Q2 2026
| RYAAY Ryanair Holdings PLC-SP ADR | Reduce -11.0% | 34.65% | −0.89 |
| CHRW C.H. Robinson Worldwide Inc. | Reduce -66.5% | 0.32% | −0.55 |
| SBKFF State Bank of Indi-GDR Reg S | Sold out | 0.00% | −0.50 |
| GILD Gilead Sciences Inc. | Reduce -50.1% | 0.37% | −0.47 |
| MKL Markel Group Inc. | Reduce -48.1% | 0.49% | −0.46 |
| WFC Wells Fargo & Co. | Reduce -57.6% | 0.34% | −0.45 |
| JNJ Johnson & Johnson | Reduce -55.8% | 0.37% | −0.45 |
| XOM Exxon Mobil Corp. | Reduce -46.2% | 0.33% | −0.44 |
| DCI Donaldson Co. Inc. | Reduce -44.9% | 0.56% | −0.42 |
| HSIC Henry Schein Inc. | Reduce -49.5% | 0.53% | −0.42 |
| SNA Snap-on Inc. | Reduce -49.0% | 0.47% | −0.38 |
| DIS The Walt Disney Co. | Reduce -47.4% | 0.38% | −0.36 |
| TROW T Rowe Price Group Inc. | Reduce -60.1% | 0.33% | −0.34 |
| BF.B Brown-Forman Corp. Class B | Reduce -46.1% | 0.37% | −0.33 |
| CFR Cullen/Frost Bankers Inc. | Reduce -50.1% | 0.39% | −0.32 |
| GOOGL Alphabet Inc. Class A | Reduce -51.7% | 0.44% | −0.31 |
| ACN Accenture PLC Class A | Reduce -32.0% | 0.22% | −0.30 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -44.0% | 0.39% | −0.30 |
| GNTX Gentex Corp. | Reduce -47.4% | 0.39% | −0.27 |
| DG Dollar General Corp. | Reduce -34.8% | 0.42% | −0.26 |
| AXP American Express Co. | Reduce -50.3% | 0.29% | −0.24 |
| META Meta Platforms Inc. Class A | Reduce -50.0% | 0.21% | −0.22 |
| QCOM Qualcomm Inc. | Reduce -52.4% | 0.43% | −0.21 |
| NKE Nike Inc. Class B | Reduce -32.5% | 0.22% | −0.21 |
| BDX Becton Dickinson and Co. | Reduce -48.7% | 0.19% | −0.20 |
| TTC Toro Co. | Reduce -32.5% | 0.32% | −0.14 |
| WAT Waters Corp. | Sold out | 0.00% | −0.10 |
| XPEL Xpel Inc. | Reduce -28.6% | 0.36% | −0.10 |
| EXP Eagle Materials Inc. | Reduce -26.9% | 0.43% | −0.08 |
| MSFT Microsoft Corp. | Reduce -7.7% | 0.22% | −0.02 |
| LFUS Littelfuse Inc. | Reduce -18.6% | 0.04% | +0.00 |
| CGNX Cognex Corp. | Reduce -12.5% | 0.03% | +0.01 |
| CPA Copa Holdings SA Class A | Reduce -14.6% | 35.33% | +4.45 |
| SSNHZ Samsung Electr-GDR Reg S | Reduce -26.9% | 19.97% | +5.27 |
Portfolio Buys Q1 2026 → Q2 2026
| None this quarter. | |||
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 40 | $639.1M | CPA, RYAAY, SSNHZ, DCI, HSIC |
| Q1 2026 | 42 | $625.0M | RYAAY, CPA, SSNHZ, DCI, MKL |
| Q4 2025 | 40 | $829.8M | RYAAY, CPA, SSNHZ, SBKFF, CHRW |
| Q3 2025 | 41 | $1.2B | RYAAY, CPA, SSNHZ, CMGGF, DCI |
| Q2 2025 | 43 | $1.2B | RYAAY, CPA, SSNHZ, CMGGF, MKL |
| Q1 2025 | 32 | $929.9M | CPA, RYAAY, SSNHZ, CMGGF, BRK.B |
| Q4 2024 | 32 | $1.4B | RYAAY, CPA, SSNHZ, CMGGF, BRK.B |
| Q3 2024 | 32 | $1.8B | RYAAY, CPA, SSNHZ, ABEV, TD |
| Q2 2024 | 33 | $1.9B | RYAAY, SSNHZ, CPA, BBD, ABEV |
| Q1 2024 | 33 | $2.5B | CRH, RYAAY, SSNHZ, CPA, BBD |