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Sprucegrove Investment Management Ltd

13F for June 30, 2026, filed August 7, 2026 · SEC CIK 1234074 · Holdings history from December 31, 2005

Reported value
$639.1m
44% in companies we cover
Positions we cover
36
Largest RYAAY 34.6%
Copy, a year
+7.4%
S&P 500 +11.5%
Copy Sharpe ratio
0.38
S&P 500 0.61

Copy-performance statistics: May 16, 2008 to November 2, 2026. Holdings history can start earlier than the price data used for performance.

Historical holdings

Holdings across the available history, including securities outside our stock coverage. Select a date to view the holdings for that period.

Related reporting managers

SEC notices identify these reporting relationships. Each manager retains its own holdings history; changes in reporting scope can involve several managers.

40 reported entries for June 30, 2026.

IssuerClass / typeReported valueQuantity
ACCENTURE PLCG1151C101 · ACN CLASS A $1.4m 11,183
ACUITY INC00508Y102 · AYI COMMON $177,030 470
ALPHABET INC02079K305 · GOOGL CLASS A $2.8m 7,870
AMERICAN EXPRESS CO025816109 · AXP COMMON $1.8m 5,442
AXOS FINANCIAL05465C100 · AX COMMON $136,346 1,400
BECTON DICKINSON075887109 · BDX COMMON $1.2m 8,000
BERKSHIRE HATHAWAY084670702 CLASS B $2.5m 5,035
BOK FINL CORP05561Q201 · BOKF COMMON $194,432 1,400
BROWN FORMAN CORP115637209 · BF.B CLASS B $2.4m 89,100
C H ROBINSON WLDWIDE12541W209 · CHRW COMMON $2.1m 10,912
COGNEX CORP192422103 · CGNX COMMON $202,776 2,800
COPA HOLDINGSP31076105 CLASS A $225.8m 1,451,592
CULLEN FROST BANKERS229899109 · CFR COMMON $2.5m 16,308
DOLLAR GEN CORP256677105 · DG COMMON $2.7m 23,495
DONALDSON INC257651109 · DCI COMMON $3.6m 40,004
EAGLE MATERIALS26969P108 · EXP COMMON $2.8m 12,310
EXXON MOBIL CORP30231G102 COMMON $2.1m 15,269
GENTEX CORP371901109 · GNTX COMMON $2.5m 99,334
GILEAD SCIENCES INC375558103 · GILD COMMON $2.4m 18,900
GRACO INC384109104 · GGG COMMON $68,049 900
HENRY SCHEIN INC806407102 · HSIC COM $3.4m 40,427
JOHNSON & JOHNSON478160104 · JNJ COMMON $2.3m 9,200
LANDSTAR SYS INC515098101 · LSTR COMMON $165,448 800
LITTELFUSE INC537008104 · LFUS COM USD0.01 $259,538 570
MARKEL GROUP INC570535104 · MKL COMMON $3.1m 1,604
META PLATFORMS INC30303M102 · META COM USD0.000006 CL A $1.3m 2,351
MICROSOFT CORP594918104 · MSFT COMMON $1.4m 3,840
MSC INDL DIRECT INC553530106 · MSM CLASS A $166,530 1,400
NIKE INC654106103 · NKE CLASS B $1.4m 33,900
PRICE T ROWE GROUP74144T108 · TROW COM $2.1m 18,714
QUALCOMM INC747525103 · QCOM COMMON $2.8m 14,929
RYANAIR HLDGS PLC783513203 · RYAAY ADR EACH REPR 5 ORD $221.4m 3,419,717
SAMSUNG ELECTRONIC796050888 GDR REP 1/2 ORD REGS $127.6m 23,676
SIMPSON MANUFACTURIN829073105 · SSD COMMON $104,675 500
SNAP-ON INC833034101 · SNA COMMON $3.0m 7,400
TORO CO891092108 · TTC COMMON $2.0m 20,810
WAFD INC938824109 · WAFD COMMON $161,154 4,200
WALT DISNEY CO254687106 · DIS COM $2.5m 25,541
WELLS FARGO & CO949746101 · WFC COMMON $2.2m 26,477
XPEL INC98379L100 · XPEL COMMON $2.3m 46,300

Values use the units disclosed in the source. Where a dollar scale cannot be established, the original amount is shown as filed. Rows may include separate allocations, options and principal amounts; these are kept separate from the covered-stock portfolio used for performance.

How copying its 13F would have done

$5.0k$10.0k$20.0k$40.0k$80.0k 2008201020122014201620182020202220242026 $74.3k$37.3k
CopyS&P 500 $10,000 copying Sprucegrove Investment Management Ltd's usable filed holdings in companies we cover from May 16, 2008, rebalancing at the first weekly close after each usable filing and holding until the next, against the S&P 500 (total return). Missing prices carry their last observed value. 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 −47.7% (S&P 500 −50.8%); beta 0.95; alpha −2.6% a year (t = −0.97); last 12 months −3.1% against +12.1%.

Reported value by quarter

Sprucegrove Investment Management Ltd: 13F reported value Total reported value where the source's dollar units can be established. Earlier filings in thousands of dollars are converted; dates with unresolved value units are omitted.
$0 $5B $10B $15B $20B Reported value, 2005-12-31: $2.6B Reported value, 2006-03-31: $2.9B Reported value, 2006-09-30: $4.6B Reported value, 2007-09-30: $5B Reported value, 2008-03-31: $4.2B Reported value, 2008-06-30: $3.9B Reported value, 2008-12-31: $2.7B Reported value, 2009-03-31: $2.4B Reported value, 2009-06-30: $2.8B Reported value, 2009-09-30: $3.2B Reported value, 2009-12-31: $3.2B Reported value, 2010-03-31: $3.5B Reported value, 2010-07-16: $3.2B Reported value, 2010-12-31: $4.1B Reported value, 2011-03-31: $4.3B Reported value, 2011-06-30: $4.4B Reported value, 2011-09-30: $3.7B Reported value, 2013-06-30: $5.5B Reported value, 2013-09-30: $5.5B Reported value, 2013-12-31: $5.8B Reported value, 2014-03-31: $5.7B Reported value, 2014-06-30: $5.9B Reported value, 2014-09-30: $5.6B Reported value, 2014-12-31: $5.4B Reported value, 2015-03-31: $5B Reported value, 2015-06-30: $4.7B Reported value, 2015-09-30: $4B Reported value, 2015-12-31: $3.5B Reported value, 2016-03-31: $2.5B Reported value, 2016-06-30: $2.4B Reported value, 2016-09-30: $2.4B Reported value, 2016-12-31: $2B Reported value, 2017-03-31: $19.4B Reported value, 2017-06-30: $1.7B Reported value, 2017-09-30: $1.8B Reported value, 2017-12-31: $1.7B Reported value, 2018-03-31: $1.6B Reported value, 2018-06-30: $1.5B Reported value, 2018-09-30: $1.6B Reported value, 2018-12-31: $1.4B Reported value, 2019-03-31: $1.5B Reported value, 2019-06-30: $1.6B Reported value, 2019-09-30: $1.6B Reported value, 2019-12-31: $1.8B Reported value, 2020-03-31: $1.3B Reported value, 2020-06-30: $1.5B Reported value, 2020-09-30: $1.9B Reported value, 2020-12-31: $3.9B Reported value, 2021-03-31: $4.1B Reported value, 2021-06-30: $4.2B Reported value, 2021-09-30: $4.1B Reported value, 2021-12-31: $4B Reported value, 2022-03-31: $3.1B Reported value, 2022-06-30: $2B Reported value, 2022-09-30: $1.7B Reported value, 2022-12-31: $1.8B Reported value, 2023-03-31: $1.8B Reported value, 2023-06-30: $1.9B Reported value, 2023-09-30: $1.6B Reported value, 2023-12-31: $2.3B Reported value, 2024-03-31: $2.5B Reported value, 2024-06-30: $1.9B Reported value, 2024-09-30: $1.8B Reported value, 2024-12-31: $1.4B Reported value, 2025-03-31: $929.9M Reported value, 2025-06-30: $1.2B Reported value, 2025-09-30: $1.2B Reported value, 2025-12-31: $829.8M Reported value, 2026-03-31: $625M Reported value, 2026-06-30: $639.1M 2005-12-31 2011-03-31 2016-03-31 2019-09-30 2023-03-31 2026-06-30 $639.1M
View chart data
Period Reported value
2005-12-31 $2.6B
2006-03-31 $2.9B
2006-09-30 $4.6B
2007-09-30 $5B
2008-03-31 $4.2B
2008-06-30 $3.9B
2008-12-31 $2.7B
2009-03-31 $2.4B
2009-06-30 $2.8B
2009-09-30 $3.2B
2009-12-31 $3.2B
2010-03-31 $3.5B
2010-07-16 $3.2B
2010-12-31 $4.1B
2011-03-31 $4.3B
2011-06-30 $4.4B
2011-09-30 $3.7B
2013-06-30 $5.5B
2013-09-30 $5.5B
2013-12-31 $5.8B
2014-03-31 $5.7B
2014-06-30 $5.9B
2014-09-30 $5.6B
2014-12-31 $5.4B
2015-03-31 $5B
2015-06-30 $4.7B
2015-09-30 $4B
2015-12-31 $3.5B
2016-03-31 $2.5B
2016-06-30 $2.4B
2016-09-30 $2.4B
2016-12-31 $2B
2017-03-31 $19.4B
2017-06-30 $1.7B
2017-09-30 $1.8B
2017-12-31 $1.7B
2018-03-31 $1.6B
2018-06-30 $1.5B
2018-09-30 $1.6B
2018-12-31 $1.4B
2019-03-31 $1.5B
2019-06-30 $1.6B
2019-09-30 $1.6B
2019-12-31 $1.8B
2020-03-31 $1.3B
2020-06-30 $1.5B
2020-09-30 $1.9B
2020-12-31 $3.9B
2021-03-31 $4.1B
2021-06-30 $4.2B
2021-09-30 $4.1B
2021-12-31 $4B
2022-03-31 $3.1B
2022-06-30 $2B
2022-09-30 $1.7B
2022-12-31 $1.8B
2023-03-31 $1.8B
2023-06-30 $1.9B
2023-09-30 $1.6B
2023-12-31 $2.3B
2024-03-31 $2.5B
2024-06-30 $1.9B
2024-09-30 $1.8B
2024-12-31 $1.4B
2025-03-31 $929.9M
2025-06-30 $1.2B
2025-09-30 $1.2B
2025-12-31 $829.8M
2026-03-31 $625M
2026-06-30 $639.1M

Latest covered holdings and moves

Covered holdings as of June 30, 2026.

CompanyShare of portfolioValueSharesChange in shares
RYAAYRyanair Holdings PLC34.65%$221.4m3.42M−11.0% Reduced
DCIDonaldson Co Inc0.56%$3.6m40.0K−44.9% Reduced
HSICHenry Schein0.53%$3.4m40.4K−49.5% Reduced
MKLMarkel Group Inc.0.49%$3.1m1.6K−48.1% Reduced
SNASnap-on0.47%$3.0m7.4K−49.0% Reduced
GOOGLAlphabet Inc. (Class A)0.44%$2.8m7.9K−51.7% Reduced
EXPEagle Materials Inc0.43%$2.8m12.3K−26.9% Reduced
QCOMQualcomm0.43%$2.8m14.9K−52.3% Reduced
DGDollar General0.42%$2.7m23.5K−34.8% Reduced
CFRCullen/frost Bankers, Inc.0.39%$2.5m16.3K−50.1% Reduced
GNTXGentex Corp0.39%$2.5m99.3K−47.4% Reduced
DISThe Walt Disney Company0.39%$2.5m25.5K−47.4% Reduced
GILDGilead Sciences0.37%$2.4m18.9K−50.1% Reduced
BF.BBrown–Forman0.37%$2.4m89.1K−46.1% Reduced
JNJJohnson & Johnson0.37%$2.3m9.2K−55.8% Reduced
XPELXpel, Inc.0.36%$2.3m46.3K−28.5% Reduced
WFCWells Fargo0.34%$2.2m26.5K−57.7% Reduced
TROWT. Rowe Price0.33%$2.1m18.7K−60.1% Reduced
CHRWC.H. Robinson0.32%$2.1m10.9K−66.5% Reduced
TTCToro Co0.32%$2.0m20.8K−32.5% Reduced
AXPAmerican Express0.29%$1.8m5.4K−50.3% Reduced
MSFTMicrosoft Corporation0.22%$1.4m3.8K−7.7% Reduced
ACNAccenture0.22%$1.4m11.2K−32.0% Reduced
NKENike, Inc.0.22%$1.4m33.9K−32.5% Reduced
METAMeta Platforms0.21%$1.3m2.4K−50.0% Reduced
BDXBecton Dickinson0.19%$1.2m8.0K−48.7% Reduced
LFUSLittelfuse Inc0.04%$259,538570−18.6% Reduced
CGNXCognex Corp0.03%$202,7762.8K−12.5% Reduced
BOKFBOK Financial Corp0.03%$194,4321.4K0.0%
AYIAcuity Inc. (de)0.03%$177,0304700.0%
MSMMSC Industrial Direct Co Inc0.03%$166,5301.4K0.0%
LSTRLandstar System Inc0.03%$165,4488000.0%
WAFDWafd Inc0.03%$161,1544.2K0.0%
AXAxos Financial, Inc.0.02%$136,3461.4K0.0%
SSDSimpson Manufacturing Co., Inc.0.02%$104,6755000.0%
GGGGraco Inc0.01%$68,0499000.0%

None this quarter.

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

CompanySold (value)Shares
RYAAYRyanair Holdings PLC−$27.4m−423.4K
CHRWC.H. Robinson−$4.1m−21.7K
HSICHenry Schein−$3.3m−39.7K
TROWT. Rowe Price−$3.2m−28.2K
QCOMQualcomm−$3.0m−16.4K
GOOGLAlphabet Inc. (Class A)−$3.0m−8.4K
WFCWells Fargo−$3.0m−36.0K
JNJJohnson & Johnson−$2.9m−11.6K
DCIDonaldson Co Inc−$2.9m−32.6K
MKLMarkel Group Inc.−$2.9m−1.5K
SNASnap-on−$2.9m−7.1K
CFRCullen/frost Bankers, Inc.−$2.5m−16.4K
GILDGilead Sciences−$2.4m−19.0K
GNTXGentex Corp−$2.3m−89.4K
DISThe Walt Disney Company−$2.2m−23.0K

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

CompanyValue last quarterShares
WATWaters Corporation$656,3512.2K
  • Industrials83.6%
  • Financials4.4%
  • Health Care3.3%
  • Communication Services2.3%
  • Technology2.2%
  • Consumer Staples1.8%
  • Consumer Discretionary1.4%
  • Materials1.0%

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

PeriodCopy, a yearS&P 500SharpeS&P 500Biggest dropBeta
Whole backtestMay 16, 2008 to November 2, 2026+7.4%+11.5%0.380.61−47.7%0.95
2010 to 2017January 8, 2010 to December 29, 2017+13.1%+13.5%0.970.98−17.1%0.91
2018 onwardsJanuary 5, 2018 to November 2, 2026+4.1%+13.9%0.170.66−44.1%0.94
Last three yearsNovember 3, 2023 to November 2, 2026+10.5%+21.8%0.381.16−18.3%0.73
Last yearNovember 7, 2025 to November 2, 2026−4.5%+14.2%−0.230.84−18.3%0.91

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.