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.
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 |