SPRUCEGROVE INVESTMENT MANAGEMENT LTD

PrivateCIK: 1234074
Location

TORONTO, A6

40
Positions
$639.10M
Total AUM (reported)
5.52M
Total Shares

Allocation by class

TOTAL AUM$639.10M40 positions
CLASS A$230.19M36.0%
ADR EACH REPR 5 ORD$221.43M34.6%
GDR REP 1/2 ORD REGS$127.61M20.0%
COMMON$44.04M6.9%
COM$7.96M1.2%
CLASS B$6.29M1.0%
COM USD0.000006 CL A$1.32M0.2%

Portfolio Concentration

Top 389.9%4–103.4%11–255.4%Rest1.3%TOP 1093.3%0%100%
Top 3$574.86M89.9%
4–10$21.42M3.4%
11–25$34.43M5.4%
Rest$8.39M1.3%

Top 3 weight

89.9%

Top 10 weight

93.3%

Voting Authority Distribution

Total shares with voting rights: 5.52M

Sole

Full voting authority

3.71M

shares

% of voting shares67.2%
Shared

Joint voting authority

0.00

shares

% of voting shares0.0%
None

No voting authority

1.81M

shares

% of voting shares32.8%

Investment Discretion (by position count)

Sole40
Shared0
Other0
Dominant voting typeSole · 67.2% of voting shares
Institutional Holdings40
Rows:

COPA HOLDINGS

SOLE
CLASS A
Shares1.45M
TypeSH
Market value$225.82M
35.33%
Sole
1.09M
Shared
0.00
None
362.78K

RYANAIR HLDGS PLC

SOLE
ADR EACH REPR 5 ORD
Shares3.42M
TypeSH
Market value$221.43M
34.65%
Sole
1.97M
Shared
0.00
None
1.45M

SAMSUNG ELECTRONIC

SOLE
GDR REP 1/2 ORD REGS
Shares23.68K
TypeSH
Market value$127.61M
19.97%
Sole
20.98K
Shared
0.00
None
2.70K

DONALDSON INC

SOLE
COMMON
Shares40K
TypeSH
Market value$3.59M
0.56%
Sole
40K
Shared
0.00
None
0.00

HENRY SCHEIN INC

SOLE
COM
Shares40.43K
TypeSH
Market value$3.38M
0.53%
Sole
40.43K
Shared
0.00
None
0.00

MARKEL GROUP INC

SOLE
COMMON
Shares1.60K
TypeSH
Market value$3.13M
0.49%
Sole
1.60K
Shared
0.00
None
0.00

SNAP-ON INC

SOLE
COMMON
Shares7.40K
TypeSH
Market value$2.98M
0.47%
Sole
7.40K
Shared
0.00
None
0.00

ALPHABET INC

SOLE
CLASS A
Shares7.87K
TypeSH
Market value$2.81M
0.44%
Sole
7.87K
Shared
0.00
None
0.00

EAGLE MATERIALS

SOLE
COMMON
Shares12.31K
TypeSH
Market value$2.77M
0.43%
Sole
12.31K
Shared
0.00
None
0.00

QUALCOMM INC

SOLE
COMMON
Shares14.93K
TypeSH
Market value$2.76M
0.43%
Sole
14.93K
Shared
0.00
None
0.00

DOLLAR GEN CORP

SOLE
COMMON
Shares23.50K
TypeSH
Market value$2.70M
0.42%
Sole
23.50K
Shared
0.00
None
0.00

CULLEN FROST BANKERS

SOLE
COMMON
Shares16.31K
TypeSH
Market value$2.52M
0.39%
Sole
16.31K
Shared
0.00
None
0.00

BERKSHIRE HATHAWAY

SOLE
CLASS B
Shares5.04K
TypeSH
Market value$2.52M
0.39%
Sole
5.04K
Shared
0.00
None
0.00

GENTEX CORP

SOLE
COMMON
Shares99.33K
TypeSH
Market value$2.51M
0.39%
Sole
99.33K
Shared
0.00
None
0.00

WALT DISNEY CO

SOLE
COM
Shares25.54K
TypeSH
Market value$2.46M
0.38%
Sole
25.54K
Shared
0.00
None
0.00

GILEAD SCIENCES INC

SOLE
COMMON
Shares18.90K
TypeSH
Market value$2.39M
0.37%
Sole
18.90K
Shared
0.00
None
0.00

BROWN FORMAN CORP

SOLE
CLASS B
Shares89.10K
TypeSH
Market value$2.37M
0.37%
Sole
89.10K
Shared
0.00
None
0.00

JOHNSON & JOHNSON

SOLE
COMMON
Shares9.20K
TypeSH
Market value$2.34M
0.37%
Sole
9.20K
Shared
0.00
None
0.00

XPEL INC

SOLE
COMMON
Shares46.30K
TypeSH
Market value$2.30M
0.36%
Sole
46.30K
Shared
0.00
None
0.00

WELLS FARGO & CO

SOLE
COMMON
Shares26.48K
TypeSH
Market value$2.19M
0.34%
Sole
26.48K
Shared
0.00
None
0.00

PRICE T ROWE GROUP

SOLE
COM
Shares18.71K
TypeSH
Market value$2.13M
0.33%
Sole
18.71K
Shared
0.00
None
0.00

EXXON MOBIL CORP

SOLE
COMMON
Shares15.27K
TypeSH
Market value$2.09M
0.33%
Sole
15.27K
Shared
0.00
None
0.00

C H ROBINSON WLDWIDE

SOLE
COMMON
Shares10.91K
TypeSH
Market value$2.06M
0.32%
Sole
10.91K
Shared
0.00
None
0.00

TORO CO

SOLE
COMMON
Shares20.81K
TypeSH
Market value$2.03M
0.32%
Sole
20.81K
Shared
0.00
None
0.00

AMERICAN EXPRESS CO

SOLE
COMMON
Shares5.44K
TypeSH
Market value$1.84M
0.29%
Sole
5.44K
Shared
0.00
None
0.00
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