1y return+57.4%S&P 500 +20.9%
3y return+44.1%S&P 500 +68.5%
5y return+43.9%S&P 500 +74.5%
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
$100 invested in its stock picks
Since June 30, 2017: $198 against $309 in the S&P 500.2
Sprucegrove Investment Management LtdS&P 500 (SPY)
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| Copa HoldingsCUSIP P31076105 | $225.8M | 35.3% | −14.6% |
| RYAAYRyanair Hldgs PLC | $221.4M | 34.6% | −11.0% |
| SSNHZSamsung Electronic | $127.6M | 20.0% | −26.9% |
| DCIDonaldson Inc | $3.6M | 0.6% | −44.9% |
| HSICHenry Schein Inc | $3.4M | 0.5% | −49.5% |
| MKLMarkel Group Inc | $3.1M | 0.5% | −48.1% |
| SNASnap-on Inc | $3.0M | 0.5% | −49.0% |
| GOOGLAlphabet Inc | $2.8M | 0.4% | −51.7% |
| EXPEagle Materials | $2.8M | 0.4% | −26.9% |
| QCOMQualcomm Inc | $2.8M | 0.4% | −52.3% |
| DGDollar Gen Corp | $2.7M | 0.4% | −34.8% |
| CFRCullen Frost Bankers | $2.5M | 0.4% | −50.1% |
| BRK/BBerkshire Hathaway | $2.5M | 0.4% | −44.0% |
| GNTXGentex Corp | $2.5M | 0.4% | −47.4% |
| DISWalt Disney Co | $2.5M | 0.4% | −47.4% |
| GILDGilead Sciences Inc | $2.4M | 0.4% | −50.1% |
| BF/BBrown Forman Corp | $2.4M | 0.4% | −46.1% |
| JNJJohnson & Johnson | $2.3M | 0.4% | −55.8% |
| XPELXpel Inc | $2.3M | 0.4% | −28.5% |
| WFCWells Fargo & Co | $2.2M | 0.3% | −57.7% |
| TROWPrice T Rowe Group | $2.1M | 0.3% | −60.1% |
| Exxon Mobil CorpCUSIP 30231G102 | $2.1M | 0.3% | −46.2% |
| CHRWC H Robinson Wldwide | $2.1M | 0.3% | −66.5% |
| TTCToro Co | $2.0M | 0.3% | −32.5% |
| AXPAmerican Express Co | $1.8M | 0.3% | −50.3% |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| GOOGLAlphabet Inc | June 30, 2020 | +404.0% | $2.8M |
| SSNHZSamsung Electronic | June 30, 2020 | +388.7% | $127.6M |
| AXPAmerican Express Co | June 30, 2020 | +255.3% | $1.8M |
| WFCWells Fargo & Co | June 30, 2020 | +222.8% | $2.2M |
| Copa HoldingsCUSIP P31076105 | June 30, 2020 | +207.7% | $225.8M |
| Exxon Mobil CorpCUSIP 30231G102 | June 30, 2020 | +205.7% | $2.1M |
| BRK/BBerkshire Hathaway | June 30, 2020 | +180.3% | $2.5M |
| METAMeta Platforms Inc | March 31, 2022 | +153.3% | $1.3M |
| CHRWC H Robinson Wldwide | June 30, 2020 | +138.2% | $2.1M |
| CGNXCognex Corp | June 30, 2025 | +128.3% | $203K |
Sold off last quarter
- SBKFFState Bk Of India was $3.1M
- WATWaters Corp was $656K
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +30.2% | +14.8% |
| March 31, 2026 | −5.0% | −4.6% |
| December 31, 2025 | +14.8% | +2.4% |
| September 30, 2025 | +10.8% | +7.8% |
| June 30, 2025 | +17.3% | +10.5% |
| March 31, 2025 | +1.8% | −4.6% |
| December 31, 2024 | −8.9% | +2.1% |
| September 30, 2024 | −11.1% | +5.4% |
| June 30, 2024 | −11.1% | +4.0% |
| March 31, 2024 | +3.2% | +10.0% |
| December 31, 2023 | +18.7% | +11.2% |
| September 30, 2023 | −13.0% | −3.6% |
| June 30, 2023 | +14.6% | +8.3% |
| March 31, 2023 | +7.6% | +7.0% |
| December 31, 2022 | +7.9% | +7.1% |
| September 30, 2022 | −1.6% | −5.3% |
| June 30, 2022 | −19.7% | −16.5% |
| March 31, 2022 | +0.8% | −4.9% |
| December 31, 2021 | +2.2% | +10.7% |
| September 30, 2021 | −7.9% | +0.3% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: Sprucegrove Investment Management Ltd Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1234074&type=13F-HR&dateb=&owner=include&count=40CIK 1234074
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1234074/000119312526339127/Filed August 7, 2026 · accession 0001193125-26-339127