13F HOLDINGS REPORT
SPRUCEGROVE INVESTMENT MANAGEMENT LTD
Quarter ended Q3 2025 · Filed November 14, 2025 · Accession 0001193125-25-281856
Total Value
$1.25B
Positions
41
Other Managers
1
Confidential Omitted
No
Holdings (41)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | RYANAIR HLDGS PLC | RYAOF | 5,273,508 | $317.6M | 25.49% |
| 2 | COPA HOLDINGS | CPA | 2,301,884 | $273.5M | 21.95% |
| 3 | SAMSUNG ELECTRONIC | 796050888 | 152,262 | $227.5M | 18.26% |
| 4 | COMMERCIAL INTL BK | 201712205 | 19,070,742 | $38.5M | 3.09% |
| 5 | DONALDSON INC | DCI | 258,761 | $21.2M | 1.70% |
| 6 | MARKEL GROUP INC | MKL | 10,888 | $20.8M | 1.67% |
| 7 | C H ROBINSON WLDWIDE | CHRW | 151,682 | $20.1M | 1.61% |
| 8 | BERKSHIRE HATHAWAY | BRK-A | 39,601 | $19.9M | 1.60% |
| 9 | WELLS FARGO & CO | 949746101 | 231,004 | $19.4M | 1.55% |
| 10 | META PLATFORMS INC | META | 25,489 | $18.7M | 1.50% |
| 11 | GILEAD SCIENCES INC | GILD | 167,370 | $18.6M | 1.49% |
| 12 | HENRY SCHEIN INC | HSIC | 278,490 | $18.5M | 1.48% |
| 13 | WALT DISNEY CO | 254687106 | 157,770 | $18.1M | 1.45% |
| 14 | GENTEX CORP | GNTX | 619,760 | $17.5M | 1.41% |
| 15 | SNAP-ON INC | SNA | 48,580 | $16.8M | 1.35% |
| 16 | PRICE T ROWE GROUP | TROW | 162,368 | $16.7M | 1.34% |
| 17 | ALPHABET INC | GOOG | 67,064 | $16.3M | 1.31% |
| 18 | QUALCOMM INC | QCOM | 97,660 | $16.2M | 1.30% |
| 19 | MSC INDL DIRECT INC | 553530106 | 174,710 | $16.1M | 1.29% |
| 20 | CULLEN FROST BANKERS | CFR-PB | 113,630 | $14.4M | 1.16% |
| 21 | JOHNSON & JOHNSON | JNJ | 77,390 | $14.3M | 1.15% |
| 22 | AMERICAN EXPRESS CO | AXP | 41,590 | $13.8M | 1.11% |
| 23 | BROWN FORMAN CORP | BF-B | 457,020 | $12.4M | 0.99% |
| 24 | EXXON MOBIL CORP | XOM | 108,890 | $12.3M | 0.99% |
| 25 | RTX CORPORATION | RTX | 63,730 | $10.7M | 0.86% |
| 26 | BECTON DICKINSON | BDX | 51,470 | $9.6M | 0.77% |
| 27 | STATE BK OF INDIA | 856552203 | 93,880 | $9.2M | 0.74% |
| 28 | DOLLAR GEN CORP | 256677105 | 65,710 | $6.8M | 0.55% |
| 29 | TORO CO | TORO | 67,300 | $5.1M | 0.41% |
| 30 | XPEL INC | XPEL | 114,856 | $3.8M | 0.30% |
| 31 | LITTELFUSE INC | LFUS | 700 | $181,307 | 0.01% |
| 32 | COGNEX CORP | CGNX | 3,700 | $167,610 | 0.01% |
| 33 | EAGLE MATERIALS | 26969P108 | 700 | $163,128 | 0.01% |
| 34 | ACUITY INC | AYI | 470 | $161,863 | 0.01% |
| 35 | BOK FINL CORP | 05561Q201 | 1,400 | $156,016 | 0.01% |
| 36 | WAFD INC | WAFDP | 4,200 | $127,218 | 0.01% |
| 37 | AXOS FINANCIAL | AX | 1,400 | $118,510 | 0.01% |
| 38 | LANDSTAR SYS INC | LSTR | 800 | $98,048 | 0.01% |
| 39 | FMC CORP | FMC | 2,900 | $97,527 | 0.01% |
| 40 | SIMPSON MANUFACTURIN | 829073105 | 500 | $83,730 | 0.01% |
| 41 | GRACO INC | GGG | 900 | $76,464 | 0.01% |