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Funds (13F)

Mawer Investment Management Ltd.

Backtest from 16 Aug 2013 to 2 Nov 2026 · weekly · hypothetical

Watch this strategy
Return a year
+9.6%
S&P 500 +14.1%
Last 12 months
+7.2%
S&P 500 +12.1%
Sharpe ratio
0.55
S&P 500 0.78
Biggest drop
−29.0%
S&P 500 −31.8%
$10.0k$20.0k$40.0k 2013201520172019202120232025 $57.0k$33.5k
StrategyS&P 500 $10,000 in Mawer Investment Management Ltd. from 16 Aug 2013 against the S&P 500 (total return) over the same dates, marked weekly, log scale. Hypothetical: before taxes and trading costs.

About

Copies Mawer Investment Management Ltd.'s quarterly 13F holdings in the companies we cover, weighted by reported value: it buys on the first trading day after each 13F is filed (up to 45 days after the quarter) and holds until the next filing. A 13F shows long US-listed positions only, at the quarter's end, so this misses shorts, cash, bonds, non-US holdings and trading within the quarter.

Mawer Investment Management Ltd.'s 13F holdings →

Key statistics

MeasureStrategyS&P 500
Return a year (compound)+9.6%+14.1%
Total return+235%+470%
Last 12 months+7.2%+12.1%
Last 3 months+3.7%—
Last month+4.3%—
This year so far+6.4%—
Volatility a year15.2%16.0%
Sharpe ratio0.550.78
Biggest drop−29.0%−31.8%
Beta to the S&P 5000.891.00
Alpha a year (t-statistic)−2.7% (−1.74)—
Share of weeks up58%—

Sharpe ratio uses returns above the 3-month Treasury bill rate. Alpha is the yearly return left after allowing for the strategy's exposure to the S&P 500 (CAPM); a t-statistic below about 2 means it cannot be told apart from luck.

Insights

CompanyWeightHeld sinceReturn since
AMZN5.4%——
MSFT4.7%——
SHEL4.7%——
NVDA4.6%——
V4.5%——
WAT3.4%——
COR3.2%——
APH3.1%——
AON2.9%——
AER2.6%——
WFC2.6%——
NOC2.5%——
AEP2.4%——
MRSH2.3%——
META2.3%——
JPM2.3%——
SO2.2%——
TSEM2.0%——
ICE1.9%——
MA1.7%——
CME1.6%——
SPGI1.3%——
SII1.1%——
UBER1.1%——
MEDP1.1%——
MLM1.1%——
MCK1.0%——
BWXT1.0%——
CDW1.0%——
TXN1.0%——
BKNG1.0%——
CPAY0.9%——
AJG0.9%——
PG0.9%——
FCN0.8%——
ABBV0.8%——
AAON0.8%——
ABT0.8%——
ABNB0.8%——
CACI0.8%——
NOVT0.7%——
NU0.7%——
CGNX0.7%——
ITT0.6%——
VRSK0.6%——
JNJ0.6%——
ELV0.5%——
VZ0.5%——
ESQ0.5%——
HDB0.5%——
VMI0.5%——
VEEV0.5%——
DHR0.5%——
TSM0.4%——
UNH0.4%——
TME0.4%——
LITE0.4%——
HSY0.4%——
AVGO0.4%——
BBSI0.3%——
IPAR0.3%——
OPLN0.3%——
NKE0.3%——
SNDK0.3%——
AME0.3%——
DORM0.3%——
BDX0.3%——
FERG0.3%——
NOW0.3%——
MDLN0.3%——
FORM0.2%——
KLAC0.2%——
WCC0.2%——
ADSK0.2%——
ATR0.2%——
VRT0.2%——
ATAT0.2%——
CASH0.2%——
BSX0.2%——
BIO0.2%——
SN0.1%——
BWA0.1%——
IBKR0.1%——
ZTS0.1%——
RXO0.1%——
LPLA0.1%——
RYAN0.1%——
TER0.1%——
RMD0.1%——
KKR0.1%——
KNSL0.1%——
SHW0.1%——
SFM0.1%——
XPEL0.1%——
DFIN0.1%——
WMS0.1%——
VVV0.1%——
XYZ0.1%——
FIX0.1%——
GLBE0.1%——
NSP0.1%——
RBA0.1%——
CART0.1%——
TWST0.1%——
WAY0.1%——
XPO0.1%——
FND0.1%——
TBBB0.1%——
CSW0.1%——
SAIA0.1%——
GTX0.1%——
MTRN0.1%——
VG0.1%——
AMTM0.1%——
MUX0.1%——
BKTI0.1%——
LMT0.1%——
FANG0.0%——
PARR0.0%——
PEGA0.0%——
CSL0.0%——
WSC0.0%——
GOOGL0.0%——
NEM0.0%——
BCO0.0%——
SE0.0%——
GNRC0.0%——
AAPL0.0%——
HLNE0.0%——
KRT0.0%——
RY0.0%——
TD0.0%——
CAT0.0%——
BMO0.0%——

Weighted by reported value in the latest 13F, held until the next filing.

PeriodReturn a yearS&P 500SharpeS&P 500Biggest dropBetaAlpha (t)
Whole backtest16 Aug 2013 to 2 Nov 2026+9.6%+14.1%0.550.78−29.0%0.89−2.7% (−1.74)
2018 onwards5 Jan 2018 to 2 Nov 2026+9.1%+13.9%0.440.66−29.0%0.86−2.9% (−1.46)
Last three years3 Nov 2023 to 2 Nov 2026+7.3%+21.8%0.261.16−13.7%0.73−8.4% (−1.93)
Last year7 Nov 2025 to 2 Nov 2026+8.8%+14.2%0.420.84−10.5%0.74−2.2% (−0.26)
DateCompanyAction
14 Aug 2026XPELBought
14 Aug 2026WCCBought
14 Aug 2026VMIBought
14 Aug 2026TWSTBought
14 Aug 2026TERBought
14 Aug 2026TDBought
14 Aug 2026TBBBBought
14 Aug 2026RXOBought
14 Aug 2026PEGABought
14 Aug 2026PARRBought
14 Aug 2026NOWBought
14 Aug 2026MTRNBought
14 Aug 2026LMTBought
14 Aug 2026KRTBought
14 Aug 2026HLNEBought
14 Aug 2026GNRCBought
14 Aug 2026GLBEBought
14 Aug 2026FORMBought
14 Aug 2026FNDBought
14 Aug 2026CATBought
14 Aug 2026CARTBought
14 Aug 2026BMOBought
14 Aug 2026AVGOBought
14 Aug 2026ADSKBought
8 May 2026XPOBought

Dated at the rebalance that made the change.

DateCompanyAction
14 Aug 2026WMGSold
14 Aug 2026PDDSold
14 Aug 2026OSISSold
14 Aug 2026ORLYSold
14 Aug 2026NTESSold
14 Aug 2026MUSASold
14 Aug 2026MKCSold
14 Aug 2026LGNSold
14 Aug 2026EOGSold
14 Aug 2026ENSGSold
14 Aug 2026CHRDSold
8 May 2026VITLSold
8 May 2026ODFLSold
8 May 2026LYFTSold
8 May 2026LLYSold
8 May 2026FOURSold
8 May 2026EEFTSold
8 May 2026DESold
8 May 2026CBZSold
8 May 2026BURSold
8 May 2026ACNSold
13 Feb 2026YUMCSold
13 Feb 2026YMMSold
13 Feb 2026VRSNSold
13 Feb 2026STTSold

Dated at the rebalance that made the change.

Backtests are hypothetical and use today's listed companies only, which flatters results. Past performance does not predict future returns. This is research, not investment advice. How we backtest