2026 Q1 Portfolio Activity
In 2026 Q1, SPRUCEGROVE INVESTMENT MANAGEMENT LTD maintained a portfolio of 43 distinct positions. The most significant new addition was NIKE INC, now representing 0.42% of the total fund value. They heavily accumulated shares in EAGLE MATERIALS, increasing the position by 35.8%. The fund also reduced its exposure to STATE BK OF INDIA by 68.2%.
Position History
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Total Positions
43
Quarter
2026 Q1
Top Holding
RYAAY (35.5%)
Top 10 Concentration
87.4%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
Showing 1-43 of 43
SPRUCEGROVE 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
RYAAY
RYANAIR HLDGS P...
|
Industrials | 35.54% | 39.47% |
#1
Prev: #1
|
6.5 |
—
|
-694,055 | -15.3% |
P
S
|
3,843,067 | $222,129,273 | 2019 Q3 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
CPA
COPA HOLDINGS
|
Industrials | 30.88% | 27.78% |
#2
Prev: #2
|
6.0 |
—
|
-212,085 | -11.1% |
P
S
|
1,699,010 | $193,024,526 | 2016 Q2 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
SSNHZ
SAMSUNG ELECTRO...
|
Unknown | 14.69% | 13.86% |
#3
Prev: #3
|
5.0 |
—
|
-23,274 | -41.8% |
P
S
|
32,382 | $91,835,352 | 2006 Q1 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
DCI
DONALDSON INC
|
Industrials | 0.99% | 0.99% |
#4
2
Prev: #6
|
0.9 |
—
|
-20,060 | -21.6% |
P
S
|
72,604 | $6,161,901 | 2020 Q1 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
MKL
MARKEL GROUP IN...
|
Financial Services | 0.95% | 0.99% |
#5
2
Prev: #7
|
1.4 |
—
|
-730 | -19.1% |
P
S
|
3,088 | $5,910,648 | 2005 Q4 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
HSIC
HENRY SCHEIN IN...
|
Healthcare | 0.94% | 0.90% |
#6
3
Prev: #9
|
0.9 |
—
|
-19,090 | -19.2% |
P
S
|
80,127 | $5,905,360 | 2020 Q1 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
CHRW
C H ROBINSON WL...
|
Industrials | 0.87% | 1.02% |
#7
2
Prev: #5
|
0.3 |
—
|
-20,270 | -38.3% |
P
S
|
32,612 | $5,415,875 | 2019 Q3 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
GILD
GILEAD SCIENCES...
|
Healthcare | 0.85% | 0.89% |
#8
2
Prev: #10
|
0.3 |
—
|
-21,970 | -36.7% |
P
S
|
37,900 | $5,282,123 | 2020 Q3 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
SNA
SNAP-ON INC
|
Industrials | 0.84% | 0.71% |
#9
7
Prev: #16
|
0.8 |
—
|
-2,680 | -15.6% |
P
S
|
14,500 | $5,266,690 | 2024 Q2 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
JNJ
JOHNSON & JOHNS...
|
Healthcare | 0.81% | 0.68% |
#10
7
Prev: #17
|
0.3 |
—
|
-6,390 | -23.5% |
P
S
|
20,800 | $5,084,352 | 2005 Q4 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
WFC
WELLS FARGO & C...
|
Financial Services | 0.80% | 0.91% |
#11
3
Prev: #8
|
0.3 |
—
|
-18,327 | -22.7% |
P
S
|
62,520 | $4,977,217 | 2005 Q4 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
XOM
EXXON MOBIL COR...
|
Energy | 0.77% | 0.57% |
#12
12
Prev: #24
|
0.3 |
—
|
-10,690 | -27.4% |
P
S
|
28,369 | $4,813,085 | 2020 Q1 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
GOOGL
ALPHABET INC
|
Communication Services | 0.75% | 0.77% |
#13
Prev: #13
|
0.8 |
—
|
-4,060 | -20.0% |
P
S
|
16,284 | $4,682,627 | 2015 Q4 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
DIS
WALT DISNEY CO
|
Communication Services | 0.75% | 0.78% |
#14
3
Prev: #11
|
0.8 |
—
|
-8,470 | -14.9% |
P
S
|
48,541 | $4,678,382 | 2005 Q4 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
CFR
CULLEN FROST BA...
|
Financial Services | 0.72% | 0.63% |
#15
5
Prev: #20
|
0.3 |
—
|
-8,330 | -20.3% |
P
S
|
32,708 | $4,483,613 | 2012 Q2 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
BF/B
BROWN FORMAN CO...
|
Consumer Defensive | 0.70% | 0.61% |
#16
7
Prev: #23
|
0.8 |
—
|
-27,920 | -14.5% |
P
S
|
165,200 | $4,367,888 | 2008 Q1 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
BRK/B
BERKSHIRE HATHA...
|
Financial Services | 0.69% | 0.78% |
#17
5
Prev: #12
|
0.3 |
—
|
-3,871 | -30.1% |
P
S
|
8,996 | $4,310,883 | 2010 Q1 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
DG
DOLLAR GEN CORP
|
Consumer Defensive | 0.68% | 0.65% |
#18
Prev: #18
|
0.8 |
—
|
-4,581 | -11.3% |
P
S
|
36,029 | $4,277,723 | 2025 Q2 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
TROW
PRICE T ROWE GR...
|
Financial Services | 0.68% | 0.72% |
#19
4
Prev: #15
|
0.8 |
—
|
-11,288 | -19.4% |
P
S
|
46,870 | $4,224,862 | 2016 Q4 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
GNTX
GENTEX CORP
|
Consumer Cyclical | 0.66% | 0.62% |
#20
1
Prev: #21
|
0.8 |
—
|
-33,760 | -15.2% |
P
S
|
188,734 | $4,123,838 | 2012 Q4 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
QCOM
QUALCOMM INC
|
Technology | 0.65% | 0.73% |
#21
7
Prev: #14
|
0.8 |
—
|
-4,160 | -11.7% |
P
S
|
31,329 | $4,034,549 | 2015 Q1 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
AXP
AMERICAN EXPRES...
|
Financial Services | 0.53% | 0.61% |
#22
Prev: #22
|
0.2 |
—
|
-2,779 | -20.2% |
P
S
|
10,953 | $3,313,063 | 2008 Q3 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
ACN
ACCENTURE PLC
|
Technology | 0.52% | 0.41% |
#23
4
Prev: #27
|
2.7 |
—
|
3,839 | 30.5% |
P
S
|
16,436 | $3,259,094 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
EXP
EAGLE MATERIALS
|
Basic Materials | 0.51% | 0.31% |
#24
5
Prev: #29
|
2.7 |
—
|
4,437 | 35.8% |
P
S
|
16,837 | $3,189,770 | 2007 Q3 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
SBKFF
STATE BK OF IND...
|
Financial Services | 0.50% | 1.22% |
#25
21
Prev: #4
|
0.2 |
—
|
-63,320 | -68.2% |
P
S
|
29,590 | $3,130,622 | 2015 Q3 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
TTC
TORO CO
|
Industrials | 0.46% | 0.30% |
#26
4
Prev: #30
|
0.7 |
—
|
-1,000 | -3.1% |
P
S
|
30,810 | $2,878,886 | 2025 Q1 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
XPEL
XPEL INC
|
Consumer Cyclical | 0.46% | 0.39% |
#27
1
Prev: #28
|
0.7 |
—
|
544 | 0.8% |
P
S
|
64,800 | $2,868,048 | 2025 Q1 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
META
META PLATFORMS ...
|
Communication Services | 0.43% | 0.50% |
#28
3
Prev: #25
|
0.2 |
—
|
-1,601 | -25.4% |
P
S
|
4,705 | $2,691,872 | 2022 Q1 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
NKE
NIKE INC
|
Consumer Cyclical | 0.42% | — |
#29
Prev: #—
|
3.7 |
—
|
50,200 | — |
NEW
|
50,200 | $2,651,564 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
BDX
BECTON DICKINSO...
|
Healthcare | 0.39% | 0.43% |
#30
4
Prev: #26
|
0.7 |
—
|
-2,870 | -15.5% |
P
S
|
15,600 | $2,452,788 | 2009 Q3 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
MSFT
MICROSOFT CORP
|
Technology | 0.25% | — |
#31
Prev: #—
|
3.6 |
—
|
4,160 | — |
NEW
|
4,160 | $1,539,907 | 2005 Q4 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
WAT
WATERS CORP
|
Healthcare | 0.11% | — |
#32
Prev: #—
|
3.5 |
—
|
2,204 | — |
NEW
|
2,204 | $656,351 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
LFUS
LITTELFUSE INC
|
Technology | 0.04% | 0.02% |
#33
2
Prev: #31
|
1.0 |
—
|
no change | no change |
P
S
|
700 | $237,545 | 2025 Q2 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
BOKF
BOK FINL CORP
|
Financial Services | 0.03% | 0.02% |
#34
1
Prev: #33
|
1.0 |
—
|
no change | no change |
P
S
|
1,400 | $179,284 | 2025 Q2 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
CGNX
COGNEX CORP
|
Technology | 0.03% | 0.01% |
#35
1
Prev: #36
|
1.0 |
—
|
no change | no change |
P
S
|
3,200 | $156,768 | 2025 Q2 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
WAFD
WAFD INC
|
Financial Services | 0.02% | 0.02% |
#36
2
Prev: #34
|
1.0 |
—
|
no change | no change |
P
S
|
4,200 | $131,880 | 2005 Q4 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
AYI
ACUITY INC
|
Industrials | 0.02% | 0.02% |
#37
5
Prev: #32
|
1.0 |
—
|
no change | no change |
P
S
|
470 | $131,703 | 2025 Q2 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
MSM
MSC INDL DIRECT...
|
Industrials | 0.02% | 0.63% |
#38
19
Prev: #19
|
0.0 |
—
|
-61,236 | -97.8% |
P
S
|
1,400 | $129,178 | 2017 Q3 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
LSTR
LANDSTAR SYS IN...
|
Industrials | 0.02% | 0.01% |
#39
2
Prev: #37
|
1.0 |
—
|
no change | no change |
P
S
|
800 | $128,248 | 2025 Q2 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
AX
AXOS FINANCIAL
|
Financial Services | 0.02% | 0.01% |
#40
5
Prev: #35
|
1.0 |
—
|
no change | no change |
P
S
|
1,400 | $119,126 | 2025 Q2 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
SSD
SIMPSON MANUFAC...
|
Basic Materials | 0.01% | 0.01% |
#41
3
Prev: #38
|
1.0 |
—
|
no change | no change |
P
S
|
500 | $85,810 | 2007 Q2 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
GGG
GRACO INC
|
Industrials | 0.01% | 0.01% |
#42
3
Prev: #39
|
1.0 |
—
|
no change | no change |
P
S
|
900 | $76,185 | 2025 Q2 | 13F Filing | 2026-03-31 | 2026-05-13 | |||
|
FMC
FMC CORP
|
Basic Materials | 0.00% | 0.00% |
Sold All 😨
(Was: #40) |
0.0 |
—
|
-2,900 | -100.0% |
CLOSED
|
— | $— | 2025 Q2 | 13F Filing | 2026-03-31 | 2026-05-13 |
Showing 1-43 of 43 holdings