2026 Q1 Portfolio Activity
In 2026 Q1, Mawer Investment Management Ltd. maintained a portfolio of 141 distinct positions. The most significant new addition was TOWER SEMICONDUCTOR LTD, now representing 1.10% of the total fund value. They heavily accumulated shares in SOUTHERN CO, increasing the position by 93.6%. The fund also reduced its exposure to BOOKING HOLDINGS INC by 49.5%.
Position History
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Total Positions
141
Quarter
2026 Q1
Top Holding
GOOG (6.1%)
Top 10 Concentration
40.2%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
Showing 1-50 of 141
Mawer Investment Management Ltd. Full Holdings List — 2026 Q1
| Stock | History | Sector / Type | Port % | Prev % | Rank / Prev | Conviction | Change | % Change | Influence | Shares | Mkt Value | Avg Cost | Price Held | 1st Owned | Source | Source Date | Date Reported | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
GOOG
ALPHABET INC
|
Communication Services | 6.07% | 6.45% |
#1
1
Prev: #2
|
4.9 |
—
|
-402,727 | -11.0% |
P
S
|
3,266,332 | $936,979,998 | 2011 Q4 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
MSFT
MICROSOFT CORP
|
Technology | 5.55% | 7.12% |
#2
1
Prev: #1
|
4.2 |
—
|
-311,338 | -11.9% |
P
S
|
2,315,228 | $857,027,949 | 2011 Q4 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
AMZN
AMAZON COM INC
|
Consumer Cyclical | 4.92% | 5.26% |
#3
Prev: #3
|
3.5 |
—
|
-419,914 | -10.3% |
P
S
|
3,650,041 | $760,194,039 | 2017 Q1 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
SHEL
SHELL PLC
|
Energy | 4.29% | 3.32% |
#4
4
Prev: #8
|
2.7 |
—
|
-954,753 | -11.8% |
P
S
|
7,120,336 | $662,191,248 | 2022 Q3 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
MMC
MARSH & MCLENNA...
|
Unknown | 3.90% | 4.06% |
#5
1
Prev: #4
|
2.6 |
—
|
-430,096 | -11.0% |
P
S
|
3,475,590 | $602,841,086 | 2011 Q4 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
V
VISA INC
|
Financial Services | 3.79% | 4.00% |
#6
1
Prev: #5
|
2.0 |
—
|
-98,456 | -4.8% |
P
S
|
1,936,751 | $585,363,622 | 2011 Q4 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
APH
AMPHENOL CORP
|
Technology | 3.26% | 3.85% |
#7
1
Prev: #6
|
1.3 |
—
|
-1,098,785 | -21.6% |
P
S
|
3,986,761 | $503,727,252 | 2016 Q1 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
NOC
NORTHROP GRUMMA...
|
Industrials | 3.02% | 2.70% |
#8
3
Prev: #11
|
1.7 |
—
|
-162,769 | -19.2% |
P
S
|
683,362 | $466,216,891 | 2025 Q2 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
WAT
WATERS CORP
|
Healthcare | 2.71% | 2.76% |
#9
1
Prev: #10
|
3.1 |
—
|
104,875 | 8.1% |
P
S
|
1,403,627 | $418,000,121 | 2016 Q1 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
AON
AON PLC
|
Financial Services | 2.67% | 2.92% |
#10
1
Prev: #9
|
1.6 |
—
|
-200,605 | -13.6% |
P
S
|
1,277,088 | $412,218,465 | 2013 Q1 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
WFC
WELLS FARGO & C...
|
Financial Services | 2.41% | 2.55% |
#11
2
Prev: #13
|
1.5 |
—
|
-205,943 | -4.2% |
P
S
|
4,670,184 | $371,793,348 | 2011 Q4 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
AER
AERCAP HOLDINGS...
|
Industrials | 2.38% | 2.64% |
#12
Prev: #12
|
1.5 |
—
|
-593,074 | -18.1% |
P
S
|
2,679,861 | $367,623,332 | 2025 Q2 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
BRK/A
BERKSHIRE HATHA...
|
Financial Services | 2.37% | 2.48% |
#13
2
Prev: #15
|
1.4 |
—
|
-78 | -13.3% |
P
S
|
509 | $365,533,260 | 2025 Q1 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
META
META PLATFORMS ...
|
Communication Services | 2.27% | 2.54% |
#14
Prev: #14
|
1.4 |
—
|
-75,402 | -11.0% |
P
S
|
612,803 | $350,602,980 | 2017 Q4 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
SO
SOUTHERN CO
|
Utilities | 2.14% | 0.86% |
#15
18
Prev: #33
|
3.9 |
—
|
1,653,984 | 93.6% |
P
S
|
3,421,757 | $330,267,986 | 2021 Q2 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
JPM
JPMORGAN CHASE ...
|
Financial Services | 2.12% | 1.83% |
#16
2
Prev: #18
|
2.8 |
—
|
98,026 | 9.7% |
P
S
|
1,113,579 | $327,570,399 | 2011 Q4 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
ICE
INTERCONTINENTA...
|
Financial Services | 2.12% | 2.21% |
#17
Prev: #17
|
1.3 |
—
|
-350,287 | -14.4% |
P
S
|
2,080,561 | $327,230,634 | 2017 Q2 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
COR
CENCORA INC
|
Healthcare | 2.10% | 1.17% |
#18
6
Prev: #24
|
3.8 |
—
|
412,879 | 66.8% |
P
S
|
1,031,163 | $323,929,545 | 2017 Q1 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
CME
CME GROUP INC
|
Financial Services | 1.97% | 1.74% |
#19
Prev: #19
|
1.3 |
—
|
-109,200 | -9.6% |
P
S
|
1,031,299 | $304,594,160 | 2011 Q4 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
BKNG
BOOKING HOLDING...
|
Consumer Cyclical | 1.55% | 3.37% |
#20
13
Prev: #7
|
0.6 |
—
|
-55,503 | -49.5% |
P
S
|
56,702 | $238,733,565 | 2018 Q1 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
FCN
FTI CONSULTING ...
|
Industrials | 1.50% | 2.21% |
#21
5
Prev: #16
|
0.6 |
—
|
-994,723 | -43.1% |
P
S
|
1,311,025 | $231,749,889 | 2021 Q1 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
MA
MASTERCARD INCO...
|
Financial Services | 1.46% | 1.48% |
#22
2
Prev: #20
|
1.1 |
—
|
-10,945 | -2.4% |
P
S
|
452,214 | $225,953,247 | 2014 Q3 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
MEDP
MEDPACE HLDGS I...
|
Healthcare | 1.39% | 1.28% |
#23
Prev: #23
|
2.6 |
—
|
38,802 | 9.5% |
P
S
|
446,104 | $214,214,680 | 2025 Q1 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
SII
SPROTT INC
|
Financial Services | 1.25% | 0.83% |
#24
10
Prev: #34
|
1.0 |
—
|
-163,820 | -10.8% |
P
S
|
1,351,182 | $193,083,908 | 2025 Q2 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
OSIS
OSI SYSTEMS INC
|
Technology | 1.14% | 1.15% |
#25
Prev: #25
|
1.0 |
—
|
-140,968 | -17.5% |
P
S
|
662,634 | $175,935,953 | 2024 Q4 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
AEP
AMERICAN ELEC P...
|
Utilities | 1.13% | 0.63% |
#26
15
Prev: #41
|
3.0 |
—
|
357,704 | 36.6% |
P
S
|
1,334,492 | $174,925,211 | 2021 Q2 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
TSEM
TOWER SEMICONDU...
|
Technology | 1.10% | — |
#27
Prev: #—
|
3.9 |
—
|
965,035 | — |
NEW
|
965,035 | $169,344,342 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
NVDA
NVIDIA CORPORAT...
|
Technology | 1.07% | 0.37% |
#28
29
Prev: #57
|
3.4 |
—
|
594,584 | 166.6% |
P
S
|
951,512 | $165,943,693 | 2024 Q4 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
SPGI
S&P GLOBAL INC
|
Financial Services | 1.05% | 0.60% |
#29
13
Prev: #42
|
3.4 |
—
|
177,016 | 85.9% |
P
S
|
383,111 | $162,952,433 | 2016 Q2 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
UBER
UBER TECHNOLOGI...
|
Technology | 1.03% | 1.15% |
#30
4
Prev: #26
|
0.9 |
—
|
-289,906 | -11.6% |
P
S
|
2,213,776 | $159,236,908 | 2025 Q3 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
FERG
FERGUSON ENTERP...
|
Industrials | 1.01% | 1.06% |
#31
3
Prev: #28
|
0.4 |
—
|
-174,890 | -20.7% |
P
S
|
672,031 | $156,757,951 | 2024 Q3 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
MLM
MARTIN MARIETTA...
|
Basic Materials | 0.97% | 0.92% |
#32
2
Prev: #30
|
0.9 |
—
|
-9,268 | -3.5% |
P
S
|
255,678 | $150,512,525 | 2011 Q4 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
BWXT
BWX TECHNOLOGIE...
|
Industrials | 0.97% | 0.75% |
#33
3
Prev: #36
|
0.9 |
—
|
-38,531 | -5.0% |
P
S
|
734,162 | $150,128,787 | 2021 Q4 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
CPAY
CORPAY INC
|
Technology | 0.97% | 1.06% |
#34
7
Prev: #27
|
0.9 |
—
|
-116,709 | -18.5% |
P
S
|
513,464 | $149,412,889 | 2024 Q1 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
VZ
VERIZON COMMUNI...
|
Communication Services | 0.89% | 0.68% |
#35
4
Prev: #39
|
0.9 |
—
|
-254,079 | -8.5% |
P
S
|
2,730,796 | $137,085,959 | 2014 Q3 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
ABT
ABBOTT LABORATO...
|
Healthcare | 0.83% | 0.87% |
#36
4
Prev: #32
|
0.8 |
—
|
8,252 | 0.7% |
P
S
|
1,253,719 | $128,719,330 | 2021 Q2 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
CDW
CDW CORP
|
Technology | 0.82% | 1.36% |
#37
15
Prev: #22
|
0.3 |
—
|
-735,313 | -41.2% |
P
S
|
1,051,495 | $127,251,925 | 2020 Q2 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
AJG
GALLAGHER ARTHU...
|
Financial Services | 0.82% | 0.89% |
#38
7
Prev: #31
|
0.8 |
—
|
-31,755 | -5.2% |
P
S
|
581,276 | $125,892,756 | 2020 Q1 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
PG
PROCTER & GAMBL...
|
Consumer Defensive | 0.80% | 0.72% |
#39
1
Prev: #38
|
0.8 |
—
|
-45,460 | -5.1% |
P
S
|
851,233 | $122,952,095 | 2011 Q4 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
CACI
CACI INTL INC
|
Technology | 0.79% | 0.74% |
#40
3
Prev: #37
|
0.8 |
—
|
-22,050 | -9.0% |
P
S
|
224,207 | $121,939,461 | 2023 Q2 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
NU
NU HLDGS LTD
|
Financial Services | 0.72% | 0.43% |
#41
10
Prev: #51
|
3.3 |
—
|
3,117,856 | 68.0% |
P
S
|
7,703,576 | $110,700,387 | 2021 Q4 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
ABNB
AIRBNB INC
|
Consumer Cyclical | 0.70% | 0.51% |
#42
3
Prev: #45
|
2.8 |
—
|
187,837 | 28.1% |
P
S
|
855,687 | $108,056,154 | 2025 Q1 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
ZTS
ZOETIS INC
|
Healthcare | 0.58% | 0.25% |
#43
26
Prev: #69
|
3.2 |
—
|
398,838 | 112.5% |
P
S
|
753,283 | $89,045,583 | 2025 Q2 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
JNJ
JOHNSON & JOHNS...
|
Healthcare | 0.57% | 0.48% |
#44
2
Prev: #46
|
0.7 |
—
|
-53,772 | -12.9% |
P
S
|
362,110 | $88,514,168 | 2011 Q4 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
ITT
ITT INC
|
Industrials | 0.56% | 0.41% |
#45
7
Prev: #52
|
2.2 |
—
|
31,483 | 7.4% |
P
S
|
454,223 | $86,543,108 | 2024 Q2 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
TXN
TEXAS INSTRS IN...
|
Technology | 0.55% | 0.44% |
#46
3
Prev: #49
|
0.7 |
—
|
-19,205 | -4.2% |
P
S
|
437,639 | $84,963,235 | 2017 Q3 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
ATR
APTARGROUP INC
|
Healthcare | 0.54% | 1.41% |
#47
26
Prev: #21
|
0.2 |
—
|
-1,399,951 | -68.1% |
P
S
|
657,273 | $82,829,543 | 2016 Q3 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
ESQ
ESQUIRE FINL HL...
|
Financial Services | 0.50% | 0.46% |
#48
Prev: #48
|
0.7 |
—
|
-75,251 | -9.4% |
P
S
|
725,214 | $77,960,505 | 2024 Q4 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
MCK
MCKESSON CORP
|
Healthcare | 0.48% | — |
#49
Prev: #—
|
3.7 |
—
|
85,680 | — |
NEW
|
85,680 | $74,144,045 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-06 | |||
|
TW
TRADEWEB MKTS I...
|
Financial Services | 0.48% | 0.32% |
#50
10
Prev: #60
|
2.2 |
—
|
95,380 | 18.0% |
P
S
|
626,551 | $73,719,991 | 2020 Q4 | 13F Filing | 2026-03-31 | 2026-05-06 |
Showing 1-50 of 141 holdings