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Sprucegrove Investment Management Portfolio holdings

AUM $639M
1-Year Est. Return 23.31%
This Fund
S&P 500
This Quarter Est. Return
-10.69%
1 Year Est. Return
+23.31%
3 Year Est. Return
+45.55%
5 Year Est. Return
+63.65%
10 Year Est. Return
+203.75%
AUM
$1.59B
AUM Growth
-$332M
Cap. Flow
-$97M
Cap. Flow %
-6.12%
Top 10 Hldgs %
84%
Holding
38
New
2
Increased
5
Reduced
28
Closed
2

Top Buys

Rank Stock Value
1
TD icon
Toronto Dominion Bank
TD
+$35.5M
2
CFR icon
Cullen/Frost Bankers
CFR
+$3.28M
3
TSM icon
TSMC
TSM
+$1.28M
4
QCOM icon
Qualcomm
QCOM
+$666K
5
BIIB icon
Biogen
BIIB
+$520K

Top Sells

Rank Stock Value
1
CHKP icon
Check Point Software Technologies
CHKP
+$53.4M
2
CPA icon
Copa Holdings
CPA
+$12.3M
3
MMM icon
3M
MMM
+$10.6M
4
ABEV icon
Ambev
ABEV
+$10.5M
5
BBD icon
Banco Bradesco
BBD
+$9.43M

Sector Composition

Rank Sector Weight
1 Industrials 33.09%
2 Financials 22.31%
3 Consumer Staples 12.39%
4 Healthcare 3.62%
5 Communication Services 2.33%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
RYAAY icon
1
Ryanair
RYAAY
$31.4B
$242M 15.27%
6,227,530
-179,950
-3% -$7.31M
BBD icon
2
Banco Bradesco
BBD
$37.1B
$233M 14.68%
81,672,147
-2,980,229
-4% -$9.43M
CPA icon
3
Copa Holdings
CPA
$5.8B
$231M 14.56%
2,591,239
-118,756
-4% -$12.3M
ABEV icon
4
Ambev
ABEV
$46.5B
$197M 12.39%
76,164,472
-3,646,980
-5% -$10.5M
TD icon
5
Toronto Dominion Bank
TD
$200B
$34.3M 2.16%
+569,700
New +$35.5M
BRK.B icon
6
Berkshire Hathaway Class B
BRK.B
$1.13T
$24.9M 1.57%
71,213
-5,951
-8% -$2.11M
META icon
7
Meta Platforms (Facebook)
META
$1.5T
$18.2M 1.15%
60,716
-15,098
-20% -$4.55M
MKL icon
8
Markel Group
MKL
$23.2B
$17.5M 1.1%
11,886
-605
-5% -$886K
DIS icon
9
Walt Disney
DIS
$181B
$16.2M 1.02%
199,389
+2,757
+1% +$235K
CHRW icon
10
C.H. Robinson
CHRW
$17.1B
$16M 1.01%
185,708
-16,972
-8% -$1.58M
BIIB icon
11
Biogen
BIIB
$30.5B
$15.9M 1%
61,955
+1,943
+3% +$520K
TROW icon
12
T. Rowe Price
TROW
$24.2B
$15.5M 0.97%
147,378
-2,511
-2% -$283K
BWA icon
13
BorgWarner
BWA
$13.4B
$14.8M 0.93%
365,627
-70,052
-16% -$2.97M
MSM icon
14
MSC Industrial Direct
MSM
$6.92B
$14.7M 0.93%
149,620
-2,832
-2% -$279K
HSIC icon
15
Henry Schein
HSIC
$9.83B
$14.3M 0.9%
192,991
-9,913
-5% -$764K
CFR icon
16
Cullen/Frost Bankers
CFR
$10.2B
$13.8M 0.87%
150,777
+32,361
+27% +$3.28M
INTC icon
17
Intel
INTC
$503B
$13.3M 0.84%
372,844
-8,688
-2% -$303K
RTX icon
18
RTX Corp
RTX
$301B
$12.5M 0.79%
173,823
+3,903
+2% +$334K
IPGP icon
19
IPG Photonics
IPGP
$3.69B
$11.3M 0.71%
111,404
-2,980
-3% -$336K
WBA
20
DELISTED
Walgreens Boots Alliance
WBA
$8.75M 0.55%
393,658
-35,468
-8% -$943K
DCI icon
21
Donaldson
DCI
$11.4B
$8.53M 0.54%
143,031
-3,650
-2% -$226K
JNJ icon
22
Johnson & Johnson
JNJ
$619B
$8.29M 0.52%
53,235
-369
-0.7% -$60.9K
GNTX icon
23
Gentex
GNTX
$4.96B
$7.89M 0.5%
242,362
-13,994
-5% -$449K
WFC icon
24
Wells Fargo
WFC
$265B
$7.56M 0.48%
184,927
-15,237
-8% -$658K
AXP icon
25
American Express
AXP
$231B
$7.47M 0.47%
50,097
-2,457
-5% -$402K
1
2

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Sprucegrove Investment Management's Q3 2023 Portfolio in Review

As of Q3 2023, Sprucegrove Investment Management held 38 positions worth $1.59B, down 17% from $1.92B the previous quarter. Its ten largest holdings account for 84% of the portfolio.

Sprucegrove Investment Management withdrew a net $97M in Q3 2023, closing 2 positions and reducing 28 holdings. Its most notable exit was Check Point Software Technologies, an estimated $53.4M position sold in full.

By sector, the portfolio is most concentrated in Industrials at 33% of assets, down from 34% a quarter earlier, followed by Financials and Consumer Staples.

Against the trend, Sprucegrove Investment Management opened a new position in Toronto Dominion Bank worth $34.3M.

  • Sprucegrove Investment Management's largest Q3 2023 buy was Toronto Dominion Bank: 569,700 shares worth $34.3M.
  • Sprucegrove Investment Management added most to Cullen/Frost Bankers in Q3 2023, an estimated $3.28M increase.
  • Sprucegrove Investment Management's biggest Q3 2023 reduction was Copa Holdings, cutting an estimated $12.3M.
  • Sprucegrove Investment Management fully exited Check Point Software Technologies in Q3 2023, selling an estimated $53.4M.
  • Sprucegrove Investment Management's ten largest holdings make up 84% of its $1.59B portfolio in Q3 2023.
  • Sprucegrove Investment Management opened 2 new positions and closed 2 in Q3 2023.
  • Sprucegrove Investment Management's portfolio value fell 17% quarter-over-quarter to $1.59B.

Based on Sprucegrove Investment Management's 13F filing for Q3 2023, filed 13 Nov 2023.