Filed: 2/10/2025ACC: 0000950123-25-001366
📋 What this filing means
SPRUCEGROVE INVESTMENT MANAGEMENT LTD filed this quarterly 13F‑HR report disclosing 32 equity positions with a total reported market value of $1.40B. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
32
Positions
$1.40B
Total AUM (reported)
54.09M
Total Shares
Allocation by class
ADR EACH REPR 5 ORD$368.63M26.4%
CLASS A$315.60M22.6%
COMMON$281.13M20.1%
GDR REP 1/2 ORD REGS$185.13M13.3%
COM$80.87M5.8%
CLASS B$43.86M3.1%
GDR REP 1 ORD EGP10$43.05M3.1%
Portfolio Concentration
Top 3$847.24M60.7%
4–10$215.69M15.4%
11–25$281.76M20.2%
Rest$51.62M3.7%
Top 3 weight
60.7%
Top 10 weight
76.1%
Voting Authority Distribution
Total shares with voting rights: 54.09M
Sole
Full voting authority
45.93M
shares
% of voting shares84.9%
Shared
Joint voting authority
0.00
shares
% of voting shares0.0%
None
No voting authority
8.16M
shares
% of voting shares15.1%
Investment Discretion (by position count)
Sole32
Shared0
Other0
Dominant voting typeSole · 84.9% of voting shares
Institutional Holdings32
Rows:
RYANAIR HLDGS PLC
SOLEShares8.46M
TypeSH
Market value$368.63M
26.40%
Sole
4.41M
Shared
0.00
None
4.05M
COPA HOLDINGS
SOLEShares3.34M
TypeSH
Market value$293.48M
21.02%
Sole
2.15M
Shared
0.00
None
1.19M
SAMSUNG ELECTRONIC
SOLEShares203.44K
TypeSH
Market value$185.13M
13.26%
Sole
128.85K
Shared
0.00
None
74.59K
COMMERCIAL INTL BK
SOLEShares29.05M
TypeSH
Market value$43.05M
3.08%
Sole
29.05M
Shared
0.00
None
0.00
BERKSHIRE HATHAWAY
SOLEShares75.83K
TypeSH
Market value$34.37M
2.46%
Sole
75.83K
Shared
0.00
None
0.00
MARKEL GROUP INC
SOLEShares18.09K
TypeSH
Market value$31.23M
2.24%
Sole
18.09K
Shared
0.00
None
0.00
HENRY SCHEIN INC
SOLEShares409.44K
TypeSH
Market value$28.33M
2.03%
Sole
409.44K
Shared
0.00
None
0.00
WALT DISNEY CO
SOLEShares242.19K
TypeSH
Market value$26.97M
1.93%
Sole
242.19K
Shared
0.00
None
0.00
META PLATFORMS INC
SOLEShares44.69K
TypeSH
Market value$26.17M
1.87%
Sole
44.69K
Shared
0.00
None
0.00
PRICE T ROWE GROUP
SOLEShares226.10K
TypeSH
Market value$25.57M
1.83%
Sole
226.10K
Shared
0.00
None
0.00
GILEAD SCIENCES INC
SOLEShares268.97K
TypeSH
Market value$24.84M
1.78%
Sole
268.97K
Shared
0.00
None
0.00
RTX CORPORATION
SOLEShares199.52K
TypeSH
Market value$23.09M
1.65%
Sole
199.52K
Shared
0.00
None
0.00
QUALCOMM INC
SOLEShares145.14K
TypeSH
Market value$22.30M
1.60%
Sole
145.14K
Shared
0.00
None
0.00
CULLEN FROST BANKERS
SOLEShares163.78K
TypeSH
Market value$21.99M
1.57%
Sole
163.78K
Shared
0.00
None
0.00
WELLS FARGO & CO
SOLEShares307.63K
TypeSH
Market value$21.61M
1.55%
Sole
307.63K
Shared
0.00
None
0.00
DONALDSON INC
SOLEShares307.43K
TypeSH
Market value$20.71M
1.48%
Sole
307.43K
Shared
0.00
None
0.00
BORG WARNER INC
SOLEShares622.43K
TypeSH
Market value$19.79M
1.42%
Sole
622.43K
Shared
0.00
None
0.00
C H ROBINSON WLDWIDE
SOLEShares187.86K
TypeSH
Market value$19.41M
1.39%
Sole
187.86K
Shared
0.00
None
0.00
AMERICAN EXPRESS CO
SOLEShares62.20K
TypeSH
Market value$18.46M
1.32%
Sole
62.20K
Shared
0.00
None
0.00
MSC INDL DIRECT INC
SOLEShares240.02K
TypeSH
Market value$17.93M
1.28%
Sole
240.02K
Shared
0.00
None
0.00
JOHNSON & JOHNSON
SOLEShares109.14K
TypeSH
Market value$15.78M
1.13%
Sole
109.14K
Shared
0.00
None
0.00
BIOGEN INC
SOLEShares97.86K
TypeSH
Market value$14.96M
1.07%
Sole
97.86K
Shared
0.00
None
0.00
AMBEV SA
SOLEShares7.68M
TypeSH
Market value$14.20M
1.02%
Sole
4.84M
Shared
0.00
None
2.84M
GENTEX CORP
SOLEShares488.86K
TypeSH
Market value$14.05M
1.01%
Sole
488.86K
Shared
0.00
None
0.00
INTEL CORP
SOLEShares631.24K
TypeSH
Market value$12.66M
0.91%
Sole
631.24K
Shared
0.00
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
RYANAIR HLDGS PLCSOLE | ADR EACH REPR 5 ORD | 8.46M | SH | $368.63M 26.40% | 4.41M | 0.00 | 4.05M |
COPA HOLDINGSSOLE | CLASS A | 3.34M | SH | $293.48M 21.02% | 2.15M | 0.00 | 1.19M |
SAMSUNG ELECTRONICSOLE | GDR REP 1/2 ORD REGS | 203.44K | SH | $185.13M 13.26% | 128.85K | 0.00 | 74.59K |
COMMERCIAL INTL BKSOLE | GDR REP 1 ORD EGP10 | 29.05M | SH | $43.05M 3.08% | 29.05M | 0.00 | 0.00 |
BERKSHIRE HATHAWAYSOLE | CLASS B | 75.83K | SH | $34.37M 2.46% | 75.83K | 0.00 | 0.00 |
MARKEL GROUP INCSOLE | COMMON | 18.09K | SH | $31.23M 2.24% | 18.09K | 0.00 | 0.00 |
HENRY SCHEIN INCSOLE | COM | 409.44K | SH | $28.33M 2.03% | 409.44K | 0.00 | 0.00 |
WALT DISNEY COSOLE | COM | 242.19K | SH | $26.97M 1.93% | 242.19K | 0.00 | 0.00 |
META PLATFORMS INCSOLE | COM USD0.000006 CL A | 44.69K | SH | $26.17M 1.87% | 44.69K | 0.00 | 0.00 |
PRICE T ROWE GROUPSOLE | COM | 226.10K | SH | $25.57M 1.83% | 226.10K | 0.00 | 0.00 |
GILEAD SCIENCES INCSOLE | COMMON | 268.97K | SH | $24.84M 1.78% | 268.97K | 0.00 | 0.00 |
RTX CORPORATIONSOLE | COM USD1 | 199.52K | SH | $23.09M 1.65% | 199.52K | 0.00 | 0.00 |
QUALCOMM INCSOLE | COMMON | 145.14K | SH | $22.30M 1.60% | 145.14K | 0.00 | 0.00 |
CULLEN FROST BANKERSSOLE | COMMON | 163.78K | SH | $21.99M 1.57% | 163.78K | 0.00 | 0.00 |
WELLS FARGO & COSOLE | COMMON | 307.63K | SH | $21.61M 1.55% | 307.63K | 0.00 | 0.00 |
DONALDSON INCSOLE | COMMON | 307.43K | SH | $20.71M 1.48% | 307.43K | 0.00 | 0.00 |
BORG WARNER INCSOLE | COMMON | 622.43K | SH | $19.79M 1.42% | 622.43K | 0.00 | 0.00 |
C H ROBINSON WLDWIDESOLE | COMMON | 187.86K | SH | $19.41M 1.39% | 187.86K | 0.00 | 0.00 |
AMERICAN EXPRESS COSOLE | COMMON | 62.20K | SH | $18.46M 1.32% | 62.20K | 0.00 | 0.00 |
MSC INDL DIRECT INCSOLE | CLASS A | 240.02K | SH | $17.93M 1.28% | 240.02K | 0.00 | 0.00 |
JOHNSON & JOHNSONSOLE | COMMON | 109.14K | SH | $15.78M 1.13% | 109.14K | 0.00 | 0.00 |
BIOGEN INCSOLE | COMMON | 97.86K | SH | $14.96M 1.07% | 97.86K | 0.00 | 0.00 |
AMBEV SASOLE | ADR REP 1 COM SHS | 7.68M | SH | $14.20M 1.02% | 4.84M | 0.00 | 2.84M |
GENTEX CORPSOLE | COMMON | 488.86K | SH | $14.05M 1.01% | 488.86K | 0.00 | 0.00 |
INTEL CORPSOLE | COMMON | 631.24K | SH | $12.66M 0.91% | 631.24K | 0.00 | 0.00 |
Page 1 of 2