Sprucegrove Investment Management LTD
Sprucegrove Investment Management Ltd. is a boutique, 100% employee-owned asset management firm based in Toronto, Ontario, Canada. Founded in 1993, Sprucegrove specializes in international and global equities and exclusively serves institutional investors, primarily in Canada and the United States. The firm is notable for its emphasis on diversity—69% of shares held by women, minorities, or both—and prides itself on a long-term and collaborative client service ethos. As of 2025, Sprucegrove employs around 66 people.
Investment Strategy
Sprucegrove focuses on global and international equity mandates, using a value-oriented approach and bottom-up, research-driven stock selection. Their philosophy centers around building portfolios of high-quality companies purchased at attractive valuations, with unwavering discipline and consistency. The firm seeks above-average investment performance and a boutique client service experience, emphasizing long-term relationships, independence, and deep collaboration among the investment team. Sprucegrove is also committed to responsible investment, as a signatory of the PRI and CDP.
Latest 13F Filing Activity
Sprucegrove Investment Management LTD filed their most recent 13F report on Jun 30, 2025 disclosing 43 equity positions with a total 13F market value of $1B. The fund increased holdings in Ryanair HLDGS PLC, Copa Holdings, Samsung Electronic among other positions. Sprucegrove Investment Management LTD reduced exposure to Commercial Intl BK, Berkshire Hathaway, RTX Corporation among others.
Top Holdings
Equity Positions (43)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
R RYAAY | RYANAIR HLDGS PLC | 28.01% | $346.7M | 6,011,207 | $40.03 | $57.67 | +$175.4M |
C CPA | COPA HOLDINGS | 22.51% | $278.6M | 2,533,736 | $71.13 | $109.97 | +$85.3M |
S SMSN.IL | SAMSUNG ELECTRONIC | 14.82% | $183.4M | 166,574 | $863.30 | $1101.00 | +$50.2M |
C CBKD.IL | COMMERCIAL INTL BK | 2.88% | $35.6M | 21,212,772 | $1.76 | $1.68 | -$5.5M |
M MKL | MARKEL GROUP INC | 1.97% | $24.3M | 12,189 | $1114.36 | $1997.36 | +$740.1K |