Sprucegrove Investment Management Ltd.
In its 13F for Q3 2024 (holdings as of September 30, 2024, filed October 24, 2024), Sprucegrove Investment Management Ltd. reported 32 stock positions worth $1.8 billion. Its top holding was Ryanair Holdings PLC-SP ADR (RYAAY) at 21.7% of the portfolio, followed by Copa Class A (CPA, 16.7%) and Samsung Electr-GDR Reg S (SSNHZ, 14.4%). Compared with Q2 2024, it sold out of 1, added to 5 and reduced 25. The biggest buy was Ryanair Holdings PLC-SP ADR (RYAAY, shares +171%) and the biggest sale an exit from Banco Bradesco-ADR (BBD).
- Most Recent 13F
- Q2 2026
- Location
- TORONTO, A6
- CIK
- 0001234074
- Portfolio Value
- $1.8B (Q3 2024)
- SEC Filing
- 0000950123-24-009884 ↗ filed Oct 24, 2024
Holdings Value
Holdings 32 stocks · $1.8B
| RYAAY Ryanair Holdings PLC-SP ADR | 21.71% | 8,598,101 | $388.5M | Add +171.4% |
| CPA Copa Holdings SA Class A | 16.73% | 3,189,574 | $299.3M | Add +3.4% |
| SSNHZ Samsung Electr-GDR Reg S | 14.39% | 220,329 | $257.6M | Reduce -2.4% |
| ABEV Ambev SA-ADR | 9.29% | 68,098,653 | $166.2M | Reduce -3.1% |
| TD Toronto-Dominion Bank | 7.65% | 2,164,430 | $136.9M | Add +11.2% |
| CMGGF Commercial Intl Bank-GDR Reg | 2.83% | 29,863,102 | $50.7M | Reduce -1.4% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.95% | 75,830 | $34.9M | Reduce -0.5% |
| HSIC Henry Schein Inc. | 1.67% | 409,441 | $29.8M | Reduce -0.1% |
| MKL Markel Group Inc. | 1.59% | 18,090 | $28.4M | Reduce -0.5% |
| META Meta Platforms Inc. Class A | 1.55% | 48,398 | $27.7M | Reduce -2.9% |
| QCOM Qualcomm Inc. | 1.49% | 156,538 | $26.6M | Reduce -0.1% |
| TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC | 1.38% | 226,102 | $24.6M | Reduce -0.2% |
| RTX RTX Corp. | 1.35% | 199,523 | $24.2M | Reduce -8.5% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 1.30% | 242,189 | $23.3M | Reduce -0.5% |
| DCI Donaldson Co. Inc. | 1.27% | 307,431 | $22.7M | Reduce -0.1% |
| BWA Borgwarner Inc. | 1.26% | 622,427 | $22.6M | Reduce -0.2% |
| GILD Gilead Sciences Inc. | 1.26% | 268,966 | $22.6M | Reduce -0.5% |
| CFR Cullen/Frost Bankers Inc. | 1.17% | 186,577 | $20.9M | Reduce -0.4% |
| CHRW C.H. Robinson Worldwide Inc. | 1.16% | 187,858 | $20.7M | Reduce -0.1% |
| MSM MSC Industrial Direct Co. Class A | 1.15% | 240,020 | $20.7M | Reduce -0.1% |
| BIIB Biogen Inc. | 1.06% | 97,855 | $19.0M | Reduce -0.2% |
| JNJ Johnson & Johnson | 0.99% | 109,135 | $17.7M | Reduce -0.4% |
| WFC Wells Fargo & Co. | 0.97% | 307,627 | $17.4M | Reduce -0.2% |
| AXP American Express Co. | 0.94% | 62,197 | $16.9M | Reduce -0.5% |
| INTC Intel Corp. | 0.83% | 631,244 | $14.8M | Add +8.1% |
| GNTX Gentex Corp. | 0.81% | 488,862 | $14.5M | Reduce -0.1% |
| BDX Becton Dickinson and Co. | 0.75% | 55,609 | $13.4M | Reduce -0.2% |
| SBKFF State Bank of Indi-GDR Reg S | 0.61% | 117,605 | $10.9M | No change |
| SNA Snap-on Inc. | 0.31% | 19,300 | $5.6M | Add +138.3% |
| GOOGL Alphabet Inc. Class A | 0.21% | 22,125 | $3.7M | No change |
| XOM Exxon Mobil Corp. | 0.20% | 30,100 | $3.5M | Reduce -0.7% |
| TSM Taiwan Semiconductor-SP ADR | 0.18% | 18,700 | $3.2M | Reduce -4.1% |
Portfolio Sells Q2 2024 → Q3 2024
| BBD Banco Bradesco-ADR | Sold out | 0.00% | −8.44 |
| SSNHZ Samsung Electr-GDR Reg S | Reduce -2.4% | 14.39% | −2.92 |
| QCOM Qualcomm Inc. | Reduce -0.1% | 1.49% | −0.13 |
| BIIB Biogen Inc. | Reduce -0.2% | 1.06% | −0.12 |
| GNTX Gentex Corp. | Reduce -0.1% | 0.81% | −0.04 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -4.1% | 0.18% | +0.01 |
| XOM Exxon Mobil Corp. | Reduce -0.7% | 0.20% | +0.02 |
| TROW T Rowe Price Group Inc. | Reduce -0.2% | 1.38% | +0.02 |
| WFC Wells Fargo & Co. | Reduce -0.2% | 0.97% | +0.02 |
| DIS The Walt Disney Co. | Reduce -0.5% | 1.30% | +0.05 |
| BDX Becton Dickinson and Co. | Reduce -0.2% | 0.75% | +0.07 |
| MKL Markel Group Inc. | Reduce -0.5% | 1.59% | +0.10 |
| DCI Donaldson Co. Inc. | Reduce -0.1% | 1.27% | +0.12 |
| JNJ Johnson & Johnson | Reduce -0.4% | 0.99% | +0.16 |
| MSM MSC Industrial Direct Co. Class A | Reduce -0.1% | 1.15% | +0.17 |
| CFR Cullen/Frost Bankers Inc. | Reduce -0.4% | 1.17% | +0.18 |
| AXP American Express Co. | Reduce -0.5% | 0.94% | +0.19 |
| RTX RTX Corp. | Reduce -8.5% | 1.35% | +0.22 |
| BWA Borgwarner Inc. | Reduce -0.2% | 1.26% | +0.22 |
| META Meta Platforms Inc. Class A | Reduce -2.9% | 1.55% | +0.25 |
| GILD Gilead Sciences Inc. | Reduce -0.5% | 1.26% | +0.30 |
| CHRW C.H. Robinson Worldwide Inc. | Reduce -0.1% | 1.16% | +0.30 |
| HSIC Henry Schein Inc. | Reduce -0.1% | 1.67% | +0.31 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -0.5% | 1.95% | +0.34 |
| CMGGF Commercial Intl Bank-GDR Reg | Reduce -1.4% | 2.83% | +0.50 |
| ABEV Ambev SA-ADR | Reduce -3.1% | 9.29% | +1.82 |
Portfolio Buys Q2 2024 → Q3 2024
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 |