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Asset manager

Mawer Investment Management Ltd.

13F for the quarter to June 30, 2026, filed August 7, 2026 · SEC CIK 1538449

Reported value
$14.7bn
90% in companies we cover
Positions we cover
134
Largest AMZN 4.9%
Copy, a year
+9.6%
S&P 500 +14.1%
Copy Sharpe ratio
0.55
S&P 500 0.78

How copying its 13F would have done

$10.0k$20.0k$40.0k 2013201520172019202120232025 $57.0k$33.5k
CopyS&P 500 $10,000 copying Mawer Investment Management Ltd.'s filed holdings in companies we cover from August 16, 2013, buying on the first trading day after each 13F was filed and holding until the next, against the S&P 500 (total return). Marked weekly, log scale. Before costs and taxes; misses trading within each quarter and anything 13F does not show (shorts, cash, bonds, non-US holdings).

Biggest drop −29.0% (S&P 500 −31.8%); beta 0.89; alpha −2.7% a year (t = −1.74); last 12 months +7.2% against +12.1%.

Reported value by quarter

Mawer Investment Management Ltd.: 13F reported value Total value of all positions in each quarter's 13F, as filed (values before 2023 were filed in thousands of dollars and are converted).
$0 $5T $10T $15T $20T Reported value, 2013-06-30: $2.7B Reported value, 2013-09-30: $6.2B Reported value, 2013-12-31: $6.8B Reported value, 2014-03-31: $7B Reported value, 2014-06-30: $7.5B Reported value, 2014-09-30: $7.5B Reported value, 2014-12-31: $7.7B Reported value, 2015-03-31: $7.8B Reported value, 2015-06-30: $7.9B Reported value, 2015-09-30: $7.3B Reported value, 2015-12-31: $7.8B Reported value, 2016-03-31: $8.6B Reported value, 2016-06-30: $7.1B Reported value, 2016-09-30: $9.5B Reported value, 2016-12-31: $9.8B Reported value, 2017-03-31: $10.4B Reported value, 2017-06-30: $10.8B Reported value, 2017-09-30: $11.7B Reported value, 2017-12-31: $12.1B Reported value, 2018-03-31: $11.9B Reported value, 2018-06-30: $12.4B Reported value, 2018-09-30: $13.3B Reported value, 2018-12-31: $12B Reported value, 2019-03-31: $14B Reported value, 2019-06-30: $15.5B Reported value, 2019-09-30: $10.9B Reported value, 2019-12-31: $12.3B Reported value, 2020-03-31: $10.9B Reported value, 2020-06-30: $13.6B Reported value, 2020-09-30: $15.3B Reported value, 2020-12-31: $17B Reported value, 2021-03-31: $18.4B Reported value, 2021-06-30: $20.2B Reported value, 2021-09-30: $20.9B Reported value, 2021-12-31: $22.2B Reported value, 2022-03-31: $21.1B Reported value, 2022-06-30: $17.6B Reported value, 2022-09-30: $16.5B Reported value, 2022-12-31: $17.7T Reported value, 2023-03-31: $18.3B Reported value, 2023-06-30: $19.1B Reported value, 2023-09-30: $18.7B Reported value, 2023-12-31: $19.5B Reported value, 2024-03-31: $21.6B Reported value, 2024-06-30: $21.1B Reported value, 2024-09-30: $21.9B Reported value, 2024-12-31: $22B Reported value, 2025-03-31: $20.7B Reported value, 2025-06-30: $19.7B Reported value, 2025-09-30: $19.3B Reported value, 2025-12-31: $17.9B Reported value, 2026-03-31: $15.4B Reported value, 2026-06-30: $14.7B 2013-06-30 2016-03-31 2018-12-31 2021-09-30 2026-06-30 $14.7B
View chart data
Period Reported value
2013-06-30 $2.7B
2013-09-30 $6.2B
2013-12-31 $6.8B
2014-03-31 $7B
2014-06-30 $7.5B
2014-09-30 $7.5B
2014-12-31 $7.7B
2015-03-31 $7.8B
2015-06-30 $7.9B
2015-09-30 $7.3B
2015-12-31 $7.8B
2016-03-31 $8.6B
2016-06-30 $7.1B
2016-09-30 $9.5B
2016-12-31 $9.8B
2017-03-31 $10.4B
2017-06-30 $10.8B
2017-09-30 $11.7B
2017-12-31 $12.1B
2018-03-31 $11.9B
2018-06-30 $12.4B
2018-09-30 $13.3B
2018-12-31 $12B
2019-03-31 $14B
2019-06-30 $15.5B
2019-09-30 $10.9B
2019-12-31 $12.3B
2020-03-31 $10.9B
2020-06-30 $13.6B
2020-09-30 $15.3B
2020-12-31 $17B
2021-03-31 $18.4B
2021-06-30 $20.2B
2021-09-30 $20.9B
2021-12-31 $22.2B
2022-03-31 $21.1B
2022-06-30 $17.6B
2022-09-30 $16.5B
2022-12-31 $17.7T
2023-03-31 $18.3B
2023-06-30 $19.1B
2023-09-30 $18.7B
2023-12-31 $19.5B
2024-03-31 $21.6B
2024-06-30 $21.1B
2024-09-30 $21.9B
2024-12-31 $22B
2025-03-31 $20.7B
2025-06-30 $19.7B
2025-09-30 $19.3B
2025-12-31 $17.9B
2026-03-31 $15.4B
2026-06-30 $14.7B

Holdings and moves

CompanyShare of portfolioValueSharesChange in shares
AMZNAmazon4.91%$721.7m3.03M−17.0% Reduced
MSFTMicrosoft Corporation4.26%$626.6m1.68M−27.4% Reduced
SHELShell plc4.22%$621.4m8.01M+12.5% Added
NVDANVIDIA Corporation4.19%$616.0m3.08M+223.5% Added
VVisa Inc.4.04%$593.6m1.73M−10.7% Reduced
WATWaters Corporation3.10%$456.4m1.22M−13.3% Reduced
CORCencora2.86%$421.3m1.49M+44.4% Added
APHAmphenol2.83%$415.8m2.36M−40.8% Reduced
AONAon plc2.64%$388.6m1.17M−8.3% Reduced
AERAercap Holdings N.V.2.40%$352.8m2.42M−9.7% Reduced
WFCWells Fargo2.36%$346.7m4.20M−10.2% Reduced
NOCNorthrop Grumman2.31%$339.7m667.1K−2.4% Reduced
AEPAmerican Electric Power2.12%$312.5m2.28M+71.1% Added
MRSHMarsh McLennan2.12%$311.9m1.87M−46.2% Reduced
METAMeta Platforms2.09%$307.4m545.7K−11.0% Reduced
JPMJPMorgan Chase2.06%$303.7m927.8K−16.7% Reduced
SOSouthern Company1.97%$289.4m3.02M−11.6% Reduced
TSEMTower Semiconductor LTD1.84%$270.6m1.04M+7.6% Added
ICEIntercontinental Exchange1.70%$250.1m2.03M−2.4% Reduced
MAMastercard1.52%$223.0m434.2K−4.0% Reduced
CMECME Group1.44%$211.1m955.9K−7.3% Reduced
SPGIS&P Global1.19%$174.5m428.6K+11.9% Added
SIISprott Inc.1.01%$148.4m1.32M−2.3% Reduced
UBERUber0.97%$143.2m1.98M−10.4% Reduced
MEDPMedpace Holdings, Inc.0.96%$141.5m267.2K−40.1% Reduced
MLMMartin Marietta Materials0.95%$139.3m241.5K−5.5% Reduced
MCKMcKesson0.93%$136.3m180.4K+110.6% Added
BWXTBWX Technologies, Inc.0.91%$134.3m689.8K−6.0% Reduced
CDWCDW Corporation0.91%$133.5m949.4K−9.7% Reduced
TXNTexas Instruments0.91%$133.3m447.2K+2.2% Added
BKNGBooking Holdings0.90%$132.0m740.5K+1205.9% Added
CPAYCorpay0.83%$122.6m367.8K−28.4% Reduced
AJGArthur J. Gallagher & Co.0.80%$117.1m510.0K−12.3% Reduced
PGProcter & Gamble0.78%$115.0m784.5K−7.8% Reduced
FCNFTI Consulting, Inc0.75%$109.8m736.9K−43.8% Reduced
ABBVAbbVie0.74%$108.5m431.2K+39.2% Added
AAONAAON, Inc.0.74%$108.5m855.2K+0.8% Added
ABTAbbott Laboratories0.73%$107.7m1.19M−5.3% Reduced
ABNBAirbnb0.73%$106.9m746.8K−12.7% Reduced
CACICACI International Inc0.71%$104.1m224.7K+0.2%
NOVTNovanta Inc0.65%$95.7m589.6K+22.3% Added
NUNu Holdings Ltd.0.65%$95.6m7.16M−7.1% Reduced
CGNXCognex Corp0.64%$94.5m1.31M+10.0% Added
ITTITT Inc.0.57%$83.6m422.9K−6.9% Reduced
VRSKVerisk Analytics, Inc.0.57%$83.4m464.3K+62.7% Added
JNJJohnson & Johnson0.56%$81.9m322.5K−10.9% Reduced
ELVElevance Health0.49%$72.4m187.3K−0.9% Reduced
VZVerizon0.48%$71.0m1.68M−38.6% Reduced
ESQEsquire Financial Holdings, Inc.0.47%$69.5m583.9K−19.5% Reduced
HDBHdfc Bank LTD0.46%$67.8m2.62M−2.2% Reduced
VMIValmont Industries Inc0.45%$65.9m114.1KNew
VEEVVeeva Systems Inc0.43%$63.1m355.4K+6368.7% Added
DHRDanaher Corporation0.41%$60.9m319.6K−5.7% Reduced
TSMTaiwan Semiconductor Manufacturing Co LTD0.39%$57.5m120.3K−10.4% Reduced
UNHUnitedHealth Group0.37%$54.0m130.0K−11.3% Reduced
TMETencent Music Entertainment Group0.35%$51.8m6.20M−14.0% Reduced
LITELumentum0.34%$49.5m57.7K+549.3% Added
HSYThe Hershey Company0.33%$48.8m278.4K+4.8% Added
AVGOBroadcom0.33%$48.5m128.3KNew
BBSIBarrett Business Services Inc0.30%$43.7m1.23M−27.7% Reduced
IPARInterparfums Inc0.29%$43.2m386.1K+24.2% Added
OPLNOpenlane, Inc.0.28%$41.3m1.00M−7.8% Reduced
NKENike, Inc.0.27%$39.0m950.0K−11.2% Reduced
SNDKSandisk0.26%$38.9m17.1K−44.0% Reduced
AMEAmetek0.24%$35.6m147.1K−26.0% Reduced
DORMDorman Products, Inc.0.24%$35.2m257.9K+1.1% Added
BDXBecton Dickinson0.24%$35.1m231.9K−34.7% Reduced
FERGFerguson Enterprises0.23%$34.4m144.8K−78.5% Reduced
NOWServiceNow0.23%$33.5m337.3KNew
MDLNMedline Inc.0.23%$33.2m840.6K+128.9% Added
FORMFormfactor Inc0.22%$32.4m202.8KNew
KLACKLA Corporation0.22%$32.2m106.8K+1034.2% Added
WCCWesco International Inc0.17%$25.8m74.6KNew
ADSKAutodesk, Inc.0.17%$25.3m130.2KNew
ATRAptargroup, Inc.0.17%$24.2m193.3K−70.6% Reduced
VRTVertiv0.16%$24.1m72.0K+119.6% Added
ATATAtour Lifestyle Holdings Ltd0.16%$23.9m752.3K+16.1% Added
CASHPathward Financial, Inc.0.16%$23.7m271.7K+1.2% Added
BSXBoston Scientific0.15%$22.6m530.5K−10.0% Reduced
BIOBio-rad Laboratories, Inc.0.14%$21.0m71.6K−62.1% Reduced
SNSharkninja, Inc.0.13%$19.7m129.1K−29.1% Reduced
BWABorgwarner Inc0.13%$19.6m295.8K−64.5% Reduced
IBKRInteractive Brokers0.13%$19.4m223.3K−39.6% Reduced
ZTSZoetis0.13%$18.5m257.2K−65.9% Reduced
RXORXO, Inc.0.12%$18.1m657.3KNew
LPLALPL Financial Holdings Inc.0.12%$18.1m64.2K+31.9% Added
RYANRyan Specialty Holdings, Inc.0.12%$17.7m469.9K−6.2% Reduced
TERTeradyne0.12%$17.4m36.0KNew
RMDResMed|0.12%$17.4m89.4K+6.4% Added
KKRKKR & Co.0.12%$17.4m189.6K−10.1% Reduced
KNSLKinsale Capital Group, Inc.0.12%$17.3m52.5K−12.2% Reduced
SHWSherwin-Williams0.11%$16.7m48.6K−53.1% Reduced
SFMSprouts Farmers Market, Inc.0.11%$15.7m185.4K+48.8% Added
XPELXpel, Inc.0.10%$15.4m310.2KNew
DFINDonnelley Financial Solutions, Inc.0.10%$14.6m347.2K−18.1% Reduced
WMSAdvanced Drainage Systems, Inc.0.10%$14.3m91.0K+68.7% Added
VVVValvoline Inc0.09%$13.5m342.7K−68.5% Reduced
XYZBlock, Inc.0.09%$13.1m172.8K−2.9% Reduced
FIXComfort Systems USA0.09%$13.0m6.5K+25.8% Added
GLBEGlobal-e Online Ltd.0.08%$11.8m340.5KNew
NSPInsperity, Inc.0.08%$11.4m275.4K−63.1% Reduced
RBARB Global Inc.0.08%$11.2m96.5K−3.2% Reduced
CARTMaplebear Inc.0.07%$10.9m230.6KNew
TWSTTwist Bioscience Corp0.07%$10.2m99.3KNew
WAYWaystar Holding Corp.0.07%$9.9m480.1K+5.9% Added
XPOXPO, Inc.0.07%$9.7m47.2K+43.0% Added
FNDFloor & Decor Holdings, Inc.0.07%$9.5m160.4KNew
TBBBBBB Foods Inc0.06%$8.9m212.6KNew
CSWCSW Industrials, Inc.0.06%$8.6m30.8K+62.6% Added
SAIASaia Inc0.06%$8.4m19.9K+5.3% Added
GTXGarrett Motion Inc.0.06%$8.3m229.2K+27.7% Added
MTRNMaterion Corp0.05%$8.0m26.9KNew
VGVenture Global, Inc.0.05%$8.0m714.7K−7.2% Reduced
AMTMAmentum Holdings, Inc.0.05%$7.6m369.6K+10.7% Added
MUXMcewen Inc.0.05%$7.4m410.7K−41.9% Reduced
BKTIBK Technologies Corp0.05%$7.3m85.4K−26.9% Reduced
LMTLockheed Martin0.05%$7.2m14.2KNew
FANGDiamondback Energy0.04%$5.7m32.6K−45.7% Reduced
PARRPAR Pacific Holdings, Inc.0.04%$5.4m95.9KNew
PEGAPegasystems Inc0.04%$5.1m171.0KNew
CSLCarlisle Companies Inc0.04%$5.1m14.1K−13.3% Reduced
WSCWillscot Holdings Corp0.03%$4.9m170.5K−4.2% Reduced
GOOGLAlphabet Inc. (Class A)0.03%$4.6m12.9K−30.7% Reduced
NEMNewmont0.02%$2.8m30.3K−4.7% Reduced
BCOBrinks Co0.02%$2.7m28.9K+97.9% Added
SESea Ltd0.02%$2.7m27.8K+64.0% Added
GNRCGenerac0.01%$2.1m7.2KNew
AAPLApple Inc.0.01%$1.6m5.5K+43.8% Added
HLNEHamilton Lane Inc0.01%$1.1m13.4KNew
KRTKarat Packaging Inc.0.01%$1.0m31.1KNew
RYRoyal Bank Of Canada0.00%$309,4201.5K0.0%
TDToronto Dominion Bank0.00%$252,6962.1KNew
CATCaterpillar Inc.0.00%$239,603225New
BMOBank Of Montreal0.00%$211,1571.2KNew
CompanyBought (value)Shares
NVDANVIDIA Corporation$425.6m2.13M
AEPAmerican Electric Power$129.9m949.4K
CORCencora$129.5m457.7K
BKNGBooking Holdings$121.9m683.8K
MCKMcKesson$71.6m94.8K
SHELShell plc$69.3m893.5K
VMIValmont Industries Inc$65.9m114.1K
VEEVVeeva Systems Inc$62.1m349.9K
AVGOBroadcom$48.5m128.3K
LITELumentum$41.9m48.8K
NOWServiceNow$33.5m337.3K
FORMFormfactor Inc$32.4m202.8K
VRSKVerisk Analytics, Inc.$32.1m178.9K
ABBVAbbVie$30.5m121.4K
KLACKLA Corporation$29.4m97.4K

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

CompanySold (value)Shares
APHAmphenol−$287.1m−1.63M
MRSHMarsh McLennan−$267.4m−1.60M
MSFTMicrosoft Corporation−$237.0m−635.4K
OSISOSI Systems Inc−$175.9m−662.6K
AMZNAmazon−$148.2m−621.9K
FERGFerguson Enterprises−$125.1m−527.2K
MEDPMedpace Holdings, Inc.−$94.8m−178.9K
FCNFTI Consulting, Inc−$85.6m−574.2K
VVisa Inc.−$70.9m−206.6K
WATWaters Corporation−$70.0m−186.7K
JPMJPMorgan Chase−$60.8m−185.8K
NTESNetease, Inc.−$58.4m−521.9K
ATRAptargroup, Inc.−$58.1m−464.0K
CPAYCorpay−$48.6m−145.7K
VZVerizon−$44.6m−1.05M

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

CompanyValue last quarterShares
OSISOSI Systems Inc$175.9m662.6K
NTESNetease, Inc.$58.4m521.9K
ENSGEnsign Group, Inc$34.0m168.9K
MKCMcCormick & Company$20.1m398.0K
WMGWarner Music Group Corp.$8.7m341.3K
LGNLegence Corp.$7.6m134.2K
PDDPDD Holdings Inc.$3.5m34.4K
CHRDChord Energy Corp$3.3m23.2K
ORLYO'Reilly Automotive$3.2m35.1K
MUSAMurphy USA Inc.$3.0m6.0K
EOGEOG Resources$1.6m11.2K
  • Financials26.7%
  • Technology21.4%
  • Health Care14.1%
  • Industrials13.4%
  • Consumer Discretionary8.5%
  • Energy4.8%
  • Utilities4.5%
  • Communication Services3.3%
  • Consumer Staples1.8%
  • Materials1.5%

Share of the value held in companies we cover, by sector.

PeriodCopy, a yearS&P 500SharpeS&P 500Biggest dropBeta
Whole backtestAugust 16, 2013 to November 2, 2026+9.6%+14.1%0.550.78−29.0%0.89
2018 onwardsJanuary 5, 2018 to November 2, 2026+9.1%+13.9%0.440.66−29.0%0.86
Last three yearsNovember 3, 2023 to November 2, 2026+7.3%+21.8%0.261.16−13.7%0.73
Last yearNovember 7, 2025 to November 2, 2026+8.8%+14.2%0.420.84−10.5%0.74

From SEC Form 13F data sets. A 13F lists long positions in US-listed shares at the quarter's end, filed up to 45 days later; it does not show shorts, cash, bonds, non-US holdings or trades within the quarter. Positions in companies outside our coverage are not listed here. Research, not investment advice.