Sprucegrove Investment Management Ltd.
In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 12, 2024), Sprucegrove Investment Management Ltd. reported 33 stock positions worth $1.9 billion. Its top holding was Ryanair Holdings PLC-SP ADR (RYAAY) at 19.1% of the portfolio, followed by Samsung Electr-GDR Reg S (SSNHZ, 17.3%) and Copa Class A (CPA, 15.2%). Compared with Q1 2024, it opened 1 new position, sold out of 1, added to 25 and reduced 7. The biggest buy was Samsung Electr-GDR Reg S (SSNHZ, shares +0%) and the biggest sale an exit from CRH (CRH).
- Most Recent 13F
- Q2 2026
- Location
- TORONTO, A6
- CIK
- 0001234074
- Portfolio Value
- $1.9B (Q2 2024)
- SEC Filing
- 0000950123-24-007878 ↗ filed Aug 12, 2024
Holdings Value
Holdings 33 stocks · $1.9B
| RYAAY Ryanair Holdings PLC-SP ADR | 19.12% | 3,168,162 | $368.9M | Add +13.2% |
| SSNHZ Samsung Electr-GDR Reg S | 17.31% | 225,697 | $334.0M | Add +0.1% |
| CPA Copa Holdings SA Class A | 15.22% | 3,086,189 | $293.7M | Add +8.3% |
| BBD Banco Bradesco-ADR | 8.44% | 72,739,401 | $162.9M | Reduce -1.6% |
| ABEV Ambev SA-ADR | 7.47% | 70,289,972 | $144.1M | Reduce -0.2% |
| TD Toronto-Dominion Bank | 5.54% | 1,946,100 | $107.0M | Add +47.0% |
| CMGGF Commercial Intl Bank-GDR Reg | 2.33% | 30,284,382 | $45.0M | Reduce -0.3% |
| QCOM Qualcomm Inc. | 1.62% | 156,738 | $31.2M | Add +1.3% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.61% | 76,225 | $31.0M | Add +0.8% |
| MKL Markel Group Inc. | 1.48% | 18,182 | $28.6M | Add +0.9% |
| HSIC Henry Schein Inc. | 1.36% | 409,991 | $26.3M | Add +1.3% |
| TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC | 1.35% | 226,602 | $26.1M | Add +1.5% |
| META Meta Platforms Inc. Class A | 1.30% | 49,844 | $25.1M | Reduce -3.4% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 1.25% | 243,289 | $24.2M | Add +0.9% |
| BIIB Biogen Inc. | 1.18% | 98,055 | $22.7M | Add +1.2% |
| DCI Donaldson Co. Inc. | 1.14% | 307,731 | $22.0M | Add +1.3% |
| RTX RTX Corp. | 1.13% | 218,023 | $21.9M | Add +1.4% |
| BWA Borgwarner Inc. | 1.04% | 623,627 | $20.1M | Add +1.3% |
| MSM MSC Industrial Direct Co. Class A | 0.99% | 240,220 | $19.1M | Add +7.1% |
| CFR Cullen/Frost Bankers Inc. | 0.99% | 187,277 | $19.0M | Add +1.7% |
| GILD Gilead Sciences Inc. | 0.96% | 270,266 | $18.5M | Add +16.7% |
| WFC Wells Fargo & Co. | 0.95% | 308,127 | $18.3M | Add +1.3% |
| INTC Intel Corp. | 0.94% | 583,944 | $18.1M | Add +16.0% |
| CHRW C.H. Robinson Worldwide Inc. | 0.86% | 188,058 | $16.6M | Add +1.2% |
| GNTX Gentex Corp. | 0.85% | 489,362 | $16.5M | Add +1.3% |
| JNJ Johnson & Johnson | 0.83% | 109,535 | $16.0M | Add +1.2% |
| AXP American Express Co. | 0.75% | 62,497 | $14.5M | Add +1.5% |
| BDX Becton Dickinson and Co. | 0.67% | 55,709 | $13.0M | Add +1.3% |
| SBKFF State Bank of Indi-GDR Reg S | 0.62% | 117,605 | $11.9M | Reduce -19.6% |
| GOOGL Alphabet Inc. Class A | 0.21% | 22,125 | $4.0M | Add +1.8% |
| XOM Exxon Mobil Corp. | 0.18% | 30,300 | $3.5M | Reduce -25.2% |
| TSM Taiwan Semiconductor-SP ADR | 0.18% | 19,500 | $3.4M | Reduce -11.0% |
| SNA Snap-on Inc. | 0.11% | 8,100 | $2.1M | New |
Portfolio Sells Q1 2024 → Q2 2024
| CRH CRH PLC | Sold out | 0.00% | −17.67 |
| BBD Banco Bradesco-ADR | Reduce -1.6% | 8.44% | −0.10 |
| XOM Exxon Mobil Corp. | Reduce -25.2% | 0.18% | −0.01 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -11.0% | 0.18% | +0.06 |
| SBKFF State Bank of Indi-GDR Reg S | Reduce -19.6% | 0.62% | +0.08 |
| META Meta Platforms Inc. Class A | Reduce -3.4% | 1.30% | +0.29 |
| CMGGF Commercial Intl Bank-GDR Reg | Reduce -0.3% | 2.33% | +0.38 |
| ABEV Ambev SA-ADR | Reduce -0.2% | 7.47% | +0.41 |
Portfolio Buys Q1 2024 → Q2 2024
| SSNHZ Samsung Electr-GDR Reg S | Add +0.1% | 17.31% | +3.77 |
| CPA Copa Holdings SA Class A | Add +8.3% | 15.22% | +3.23 |
| RYAAY Ryanair Holdings PLC-SP ADR | Add +13.2% | 19.12% | +2.65 |
| TD Toronto-Dominion Bank | Add +47.0% | 5.54% | +2.31 |
| QCOM Qualcomm Inc. | Add +1.3% | 1.62% | +0.56 |
| MKL Markel Group Inc. | Add +0.9% | 1.48% | +0.38 |
| BIIB Biogen Inc. | Add +1.2% | 1.18% | +0.33 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +0.8% | 1.61% | +0.32 |
| CHRW C.H. Robinson Worldwide Inc. | Add +1.2% | 0.86% | +0.29 |
| RTX RTX Corp. | Add +1.4% | 1.13% | +0.29 |
| GILD Gilead Sciences Inc. | Add +16.7% | 0.96% | +0.28 |
| TROW T Rowe Price Group Inc. | Add +1.5% | 1.35% | +0.25 |
| WFC Wells Fargo & Co. | Add +1.3% | 0.95% | +0.24 |
| DCI Donaldson Co. Inc. | Add +1.3% | 1.14% | +0.22 |
| AXP American Express Co. | Add +1.5% | 0.75% | +0.18 |
| BWA Borgwarner Inc. | Add +1.3% | 1.04% | +0.18 |
| GNTX Gentex Corp. | Add +1.3% | 0.85% | +0.15 |
| CFR Cullen/Frost Bankers Inc. | Add +1.7% | 0.99% | +0.15 |
| JNJ Johnson & Johnson | Add +1.2% | 0.83% | +0.14 |
| HSIC Henry Schein Inc. | Add +1.3% | 1.36% | +0.13 |
| BDX Becton Dickinson and Co. | Add +1.3% | 0.67% | +0.12 |
| SNA Snap-on Inc. | New | 0.11% | +0.11 |
| MSM MSC Industrial Direct Co. Class A | Add +7.1% | 0.99% | +0.11 |
| GOOGL Alphabet Inc. Class A | Add +1.8% | 0.21% | +0.08 |
| DIS The Walt Disney Co. | Add +0.9% | 1.25% | +0.06 |
| INTC Intel Corp. | Add +16.0% | 0.94% | +0.04 |
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 |