Sprucegrove Investment Management Ltd

13F filer · CIK 0001234074

Reported Aug 7, 2026

Net seller this quarter

13F portfolio value$639MU.S. long equity reported on 13F

Positions390 new · 2 closed

Net flow last quarter-$123MBuys minus sells

Top 10 positions weight73.8%Concentration

Holdings

13F · last 4 quarters free

Scroll for earlier quarters

Company	Value	% of portfolio	% of company	POSITION CHANGE qoq %	First reported
Q2 2026Reported Aug 7, 202639 positions
CPACopa Holdings, S.A.	$226M	35.33%	3.53%	-14.6%	Q1 2016
RYAAYRyanair Holdings PLC	$221M	34.65%	0.33%	-11.0%	Q2 2013
DCIDONALDSON Co INC	$3.59M	0.56%	0.03%	-44.9%	Q1 2020
HSICHenry Schein Inc	$3.38M	0.53%	0.04%	-49.6%	Q1 2020
MKLMarkel Group Inc.	$3.13M	0.49%	0.01%	-48.1%	Q2 2013
SNASnap-on Inc	$2.98M	0.47%	0.01%	-49.0%	Q2 2024
GOOGLAlphabet Inc.	$2.81M	0.44%	0.00%	-51.7%	Q4 2015
EXPEagle Materials Inc	$2.77M	0.43%	0.04%	-26.9%	Q4 2015
QCOMQualcomm Inc	$2.76M	0.43%	0.00%	-52.4%	Q2 2015
DGDollar General Corp	$2.7M	0.42%	0.01%	-34.8%	Q2 2025
CFRCullen/Frost Bankers, Inc.	$2.52M	0.39%	0.03%	-50.1%	Q2 2013
BRK.BBerkshire Hathaway Inc	$2.52M	0.39%	Not reported	-44.0%	Q2 2013
GNTXGentex Corp	$2.51M	0.39%	0.05%	-47.4%	Q2 2013
DISWalt Disney Co	$2.46M	0.38%	0.00%	-47.4%	Q2 2013
GILDGilead Sciences, Inc.	$2.39M	0.37%	0.00%	-50.1%	Q3 2020
BF.BBrown Forman Corp	$2.37M	0.37%	0.02%	-46.1%	Q2 2013
JNJJohnson & Johnson	$2.34M	0.37%	0.00%	-55.8%	Q2 2013
XPELXPEL, Inc.	$2.3M	0.36%	0.17%	-28.6%	Q1 2025
WFCWells Fargo & Company	$2.19M	0.34%	0.00%	-57.7%	Q2 2013
TROWPrice T Rowe Group Inc	$2.13M	0.33%	0.01%	-60.1%	Q4 2016
XOMExxonMobil Holdings Corp	$2.09M	0.33%	0.00%	-46.2%	Q1 2020
CHRWC. H. Robinson Worldwide, Inc.	$2.06M	0.32%	0.01%	-66.5%	Q3 2019
TTCToro Co	$2.03M	0.32%	0.02%	-32.5%	Q1 2025
AXPAmerican Express Co	$1.84M	0.29%	0.00%	-50.3%	Q2 2013
MSFTMicrosoft Corp	$1.43M	0.22%	0.00%	-7.7%	Q2 2013
ACNAccenture plc	$1.39M	0.22%	0.00%	-32.0%	Q4 2025
NKENIKE, Inc.	$1.39M	0.22%	0.00%	-32.5%	Q1 2026
METAMeta Platforms, Inc.	$1.32M	0.21%	Not reported	-50.0%	Q1 2022
BDXBecton Dickinson & Co	$1.21M	0.19%	0.00%	-48.7%	Q2 2013
LFUSLittelfuse Inc	$260K	0.04%	0.00%	-18.6%	Q2 2025
CGNXCognex Corp	$203K	0.03%	0.00%	-12.5%	Q2 2025
BOKFBok Financial Corp	$194K	0.03%	0.00%	Not reported	Q2 2025
AYIAcuity Inc. (De)	$177K	0.03%	0.00%	Not reported	Q2 2025
MSMMSC Industrial Direct Co Inc	$167K	0.03%	0.00%	Not reported	Q3 2017
LSTRLandstar System Inc	$165K	0.03%	0.00%	Not reported	Q2 2025
WAFDWafd Inc	$161K	0.03%	0.01%	Not reported	Q2 2013
AXAxos Financial, Inc.	$136K	0.02%	0.00%	Not reported	Q2 2025
SSDSimpson Manufacturing Co., Inc.	$105K	0.02%	0.00%	Not reported	Q2 2025
GGGGraco Inc	$68K	0.01%	0.00%	Not reported	Q2 2025
Q1 2026Reported May 13, 202641 positions
RYAAYRyanair Holdings PLC	$222M	35.54%	0.37%	-15.3%	Q2 2013
CPACopa Holdings, S.A.	$193M	30.88%	4.13%	-11.1%	Q1 2016
DCIDONALDSON Co INC	$6.16M	0.99%	0.06%	-21.7%	Q1 2020
MKLMarkel Group Inc.	$5.91M	0.95%	0.02%	-19.1%	Q2 2013
HSICHenry Schein Inc	$5.91M	0.94%	0.07%	-19.2%	Q1 2020
CHRWC. H. Robinson Worldwide, Inc.	$5.42M	0.87%	0.03%	-38.3%	Q3 2019
GILDGilead Sciences, Inc.	$5.28M	0.85%	0.00%	-36.7%	Q3 2020
SNASnap-on Inc	$5.27M	0.84%	0.03%	-15.6%	Q2 2024
JNJJohnson & Johnson	$5.08M	0.81%	0.00%	-23.5%	Q2 2013
WFCWells Fargo & Company	$4.98M	0.80%	0.00%	-22.7%	Q2 2013
XOMExxonMobil Holdings Corp	$4.81M	0.77%	0.00%	-27.4%	Q1 2020
GOOGLAlphabet Inc.	$4.68M	0.75%	0.00%	-20.0%	Q4 2015
DISWalt Disney Co	$4.68M	0.75%	0.00%	-14.9%	Q2 2013
CFRCullen/Frost Bankers, Inc.	$4.48M	0.72%	0.05%	-20.3%	Q2 2013
BF.BBrown Forman Corp	$4.37M	0.70%	0.04%	-14.5%	Q2 2013
BRK.BBerkshire Hathaway Inc	$4.31M	0.69%	Not reported	-30.1%	Q2 2013
DGDollar General Corp	$4.28M	0.68%	0.02%	-11.3%	Q2 2025
TROWPrice T Rowe Group Inc	$4.22M	0.68%	0.02%	-19.4%	Q4 2016
GNTXGentex Corp	$4.12M	0.66%	0.09%	-15.2%	Q2 2013
QCOMQualcomm Inc	$4.03M	0.65%	0.00%	-11.7%	Q2 2015
AXPAmerican Express Co	$3.31M	0.53%	0.00%	-20.2%	Q2 2013
ACNAccenture plc	$3.26M	0.52%	0.00%	+30.5%	Q4 2025
EXPEagle Materials Inc	$3.19M	0.51%	0.05%	+35.8%	Q4 2015
SIDNational Steel Co	$3.13M	0.50%	0.00%	-68.2%	Q3 2015
TTCToro Co	$2.88M	0.46%	0.03%	-3.1%	Q1 2025
XPELXPEL, Inc.	$2.87M	0.46%	0.24%	+0.9%	Q1 2025
METAMeta Platforms, Inc.	$2.69M	0.43%	Not reported	-25.4%	Q1 2022
NKENIKE, Inc.	$2.65M	0.42%	0.00%	New	Q1 2026
BDXBecton Dickinson & Co	$2.45M	0.39%	0.01%	-15.5%	Q2 2013
MSFTMicrosoft Corp	$1.54M	0.25%	0.00%	Not reported	Q2 2013
WATWaters Corp	$656K	0.11%	0.00%	New	Q1 2026
LFUSLittelfuse Inc	$238K	0.04%	0.00%	Not reported	Q2 2025
BOKFBok Financial Corp	$179K	0.03%	0.00%	Not reported	Q2 2025
CGNXCognex Corp	$157K	0.03%	0.00%	Not reported	Q2 2025
WAFDWafd Inc	$132K	0.02%	0.01%	Not reported	Q2 2013
AYIAcuity Inc. (De)	$132K	0.02%	0.00%	Not reported	Q2 2025
MSMMSC Industrial Direct Co Inc	$129K	0.02%	0.00%	-97.8%	Q3 2017
LSTRLandstar System Inc	$128K	0.02%	0.00%	Not reported	Q2 2025
AXAxos Financial, Inc.	$119K	0.02%	0.00%	Not reported	Q2 2025
SSDSimpson Manufacturing Co., Inc.	$85.8K	0.01%	0.00%	Not reported	Q2 2025
GGGGraco Inc	$76.2K	0.01%	0.00%	Not reported	Q2 2025
Q4 2025Reported Feb 3, 202639 positions
RYAAYRyanair Holdings PLC	$328M	39.47%	0.43%	-14.0%	Q2 2013
CPACopa Holdings, S.A.	$230M	27.78%	4.65%	-17.0%	Q1 2016
SIDNational Steel Co	$10.1M	1.22%	0.01%	-1.0%	Q3 2015
CHRWC. H. Robinson Worldwide, Inc.	$8.5M	1.02%	0.04%	-65.1%	Q3 2019
DCIDONALDSON Co INC	$8.22M	0.99%	0.08%	-64.2%	Q1 2020
MKLMarkel Group Inc.	$8.21M	0.99%	0.03%	-64.9%	Q2 2013
WFCWells Fargo & Company	$7.53M	0.91%	0.00%	-65.0%	Q2 2013
HSICHenry Schein Inc	$7.5M	0.90%	0.09%	-64.4%	Q1 2020
GILDGilead Sciences, Inc.	$7.35M	0.89%	0.00%	-64.2%	Q3 2020
DISWalt Disney Co	$6.49M	0.78%	0.00%	-63.9%	Q2 2013
BRK.BBerkshire Hathaway Inc	$6.47M	0.78%	Not reported	-67.5%	Q2 2013
GOOGLAlphabet Inc.	$6.37M	0.77%	0.00%	-69.7%	Q4 2015
QCOMQualcomm Inc	$6.07M	0.73%	0.00%	-63.7%	Q2 2015
TROWPrice T Rowe Group Inc	$5.95M	0.72%	0.03%	-64.2%	Q4 2016
SNASnap-on Inc	$5.92M	0.71%	0.03%	-64.6%	Q2 2024
JNJJohnson & Johnson	$5.63M	0.68%	0.00%	-64.9%	Q2 2013
DGDollar General Corp	$5.39M	0.65%	0.02%	-38.2%	Q2 2025
MSMMSC Industrial Direct Co Inc	$5.27M	0.63%	0.11%	-64.2%	Q3 2017
CFRCullen/Frost Bankers, Inc.	$5.2M	0.63%	0.06%	-63.9%	Q2 2013
GNTXGentex Corp	$5.18M	0.62%	0.10%	-64.1%	Q2 2013
AXPAmerican Express Co	$5.08M	0.61%	0.00%	-67.0%	Q2 2013
BF.BBrown Forman Corp	$5.03M	0.61%	0.04%	-57.7%	Q2 2013
XOMExxonMobil Holdings Corp	$4.7M	0.57%	0.00%	-64.1%	Q1 2020
METAMeta Platforms, Inc.	$4.16M	0.50%	Not reported	-75.3%	Q1 2022
BDXBecton Dickinson & Co	$3.58M	0.43%	0.01%	-64.1%	Q2 2013
ACNAccenture plc	$3.38M	0.41%	0.00%	New	Q4 2025
XPELXPEL, Inc.	$3.21M	0.39%	0.23%	-44.1%	Q1 2025
EXPEagle Materials Inc	$2.56M	0.31%	0.04%	+1671.4%	Q4 2015
TTCToro Co	$2.5M	0.30%	0.03%	-52.7%	Q1 2025
LFUSLittelfuse Inc	$177K	0.02%	0.00%	Not reported	Q2 2025
AYIAcuity Inc. (De)	$169K	0.02%	0.00%	Not reported	Q2 2025
BOKFBok Financial Corp	$166K	0.02%	0.00%	Not reported	Q2 2025
WAFDWafd Inc	$135K	0.02%	0.01%	Not reported	Q2 2013
AXAxos Financial, Inc.	$121K	0.01%	0.00%	Not reported	Q2 2025
CGNXCognex Corp	$115K	0.01%	0.00%	-13.5%	Q2 2025
LSTRLandstar System Inc	$115K	0.01%	0.00%	Not reported	Q2 2025
SSDSimpson Manufacturing Co., Inc.	$80.7K	0.01%	0.00%	Not reported	Q2 2025
GGGGraco Inc	$73.8K	0.01%	0.00%	Not reported	Q2 2025
FMCFMC Corp	$40.2K	0.00%	0.00%	Not reported	Q2 2025
Q3 2025Reported Nov 14, 202540 positions
RYAAYRyanair Holdings PLC	$318M	25.49%	0.50%	-12.3%	Q2 2013
CPACopa Holdings, S.A.	$274M	21.95%	5.59%	-9.2%	Q1 2016
CINCinergy Corp	$38.5M	3.09%	Not reported	-10.1%	Q4 2019
DCIDONALDSON Co INC	$21.2M	1.70%	0.22%	-6.2%	Q1 2020
MKLMarkel Group Inc.	$20.8M	1.67%	0.09%	-10.7%	Q2 2013
CHRWC. H. Robinson Worldwide, Inc.	$20.1M	1.61%	0.13%	-0.6%	Q3 2019
BRK.BBerkshire Hathaway Inc	$19.9M	1.60%	Not reported	-11.2%	Q2 2013
WFCWells Fargo & Company	$19.4M	1.55%	0.01%	-9.6%	Q2 2013
METAMeta Platforms, Inc.	$18.7M	1.50%	Not reported	-12.4%	Q1 2022
GILDGilead Sciences, Inc.	$18.6M	1.49%	0.01%	-9.8%	Q3 2020
HSICHenry Schein Inc	$18.5M	1.48%	0.23%	-6.5%	Q1 2020
DISWalt Disney Co	$18.1M	1.45%	0.01%	-11.4%	Q2 2013
GNTXGentex Corp	$17.5M	1.41%	0.28%	+4.8%	Q2 2013
SNASnap-on Inc	$16.8M	1.35%	0.09%	+3.2%	Q2 2024
TROWPrice T Rowe Group Inc	$16.7M	1.34%	0.07%	-8.1%	Q4 2016
GOOGLAlphabet Inc.	$16.3M	1.31%	0.00%	+5.7%	Q4 2015
QCOMQualcomm Inc	$16.2M	1.30%	0.01%	-9.1%	Q2 2015
MSMMSC Industrial Direct Co Inc	$16.1M	1.29%	0.31%	-7.9%	Q3 2017
CFRCullen/Frost Bankers, Inc.	$14.4M	1.16%	0.18%	-9.6%	Q2 2013
JNJJohnson & Johnson	$14.3M	1.15%	0.00%	-5.7%	Q2 2013
AXPAmerican Express Co	$13.8M	1.11%	0.01%	-7.6%	Q2 2013
BF.BBrown Forman Corp	$12.4M	0.99%	0.10%	+0.2%	Q2 2013
XOMExxonMobil Holdings Corp	$12.3M	0.99%	0.00%	+6.0%	Q1 2020
RTXRTX Corp	$10.7M	0.86%	0.00%	-36.7%	Q2 2020
BDXBecton Dickinson & Co	$9.63M	0.77%	0.02%	-3.0%	Q2 2013
SIDNational Steel Co	$9.23M	0.74%	0.01%	-1.6%	Q3 2015
DGDollar General Corp	$6.79M	0.55%	0.03%	+69.7%	Q2 2025
TTCToro Co	$5.13M	0.41%	0.07%	+7.5%	Q1 2025
XPELXPEL, Inc.	$3.8M	0.30%	0.42%	-3.6%	Q1 2025
LFUSLittelfuse Inc	$181K	0.01%	0.00%	Not reported	Q2 2025
CGNXCognex Corp	$168K	0.01%	0.00%	Not reported	Q2 2025
EXPEagle Materials Inc	$163K	0.01%	0.00%	+16.7%	Q4 2015
AYIAcuity Inc. (De)	$162K	0.01%	0.00%	+17.5%	Q2 2025
BOKFBok Financial Corp	$156K	0.01%	0.00%	+7.7%	Q2 2025
WAFDWafd Inc	$127K	0.01%	0.01%	+20.0%	Q2 2013
AXAxos Financial, Inc.	$119K	0.01%	0.00%	+7.7%	Q2 2025
LSTRLandstar System Inc	$98K	0.01%	0.00%	+14.3%	Q2 2025
FMCFMC Corp	$97.5K	0.01%	0.00%	+81.3%	Q2 2025
SSDSimpson Manufacturing Co., Inc.	$83.7K	0.01%	0.00%	+25.0%	Q2 2025
GGGGraco Inc	$76.5K	0.01%	0.00%	+28.6%	Q2 2025

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