13F HOLDINGS REPORT
SPRUCEGROVE INVESTMENT MANAGEMENT LTD
Quarter ended Q4 2025 · Filed February 3, 2026 · Accession 0001193125-26-034374
Total Value
$829.8M
Positions
40
Other Managers
1
Confidential Omitted
No
Holdings (40)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | RYANAIR HLDGS PLC | RYAOF | 4,537,122 | $327.5M | 39.47% |
| 2 | COPA HOLDINGS | CPA | 1,911,095 | $230.5M | 27.78% |
| 3 | SAMSUNG ELECTRONIC | 796050888 | 55,656 | $115.0M | 13.86% |
| 4 | STATE BK OF INDIA | 856552203 | 92,910 | $10.1M | 1.22% |
| 5 | C H ROBINSON WLDWIDE | CHRW | 52,882 | $8.5M | 1.02% |
| 6 | DONALDSON INC | DCI | 92,664 | $8.2M | 0.99% |
| 7 | MARKEL GROUP INC | MKL | 3,818 | $8.2M | 0.99% |
| 8 | WELLS FARGO & CO | 949746101 | 80,847 | $7.5M | 0.91% |
| 9 | HENRY SCHEIN INC | HSIC | 99,217 | $7.5M | 0.90% |
| 10 | GILEAD SCIENCES INC | GILD | 59,870 | $7.3M | 0.89% |
| 11 | WALT DISNEY CO | 254687106 | 57,011 | $6.5M | 0.78% |
| 12 | BERKSHIRE HATHAWAY | BRK-A | 12,867 | $6.5M | 0.78% |
| 13 | ALPHABET INC | GOOG | 20,344 | $6.4M | 0.77% |
| 14 | QUALCOMM INC | QCOM | 35,489 | $6.1M | 0.73% |
| 15 | PRICE T ROWE GROUP | TROW | 58,158 | $6.0M | 0.72% |
| 16 | SNAP-ON INC | SNA | 17,180 | $5.9M | 0.71% |
| 17 | JOHNSON & JOHNSON | JNJ | 27,190 | $5.6M | 0.68% |
| 18 | DOLLAR GEN CORP | 256677105 | 40,610 | $5.4M | 0.65% |
| 19 | MSC INDL DIRECT INC | 553530106 | 62,636 | $5.3M | 0.63% |
| 20 | CULLEN FROST BANKERS | CFR-PB | 41,038 | $5.2M | 0.63% |
| 21 | GENTEX CORP | GNTX | 222,494 | $5.2M | 0.62% |
| 22 | AMERICAN EXPRESS CO | AXP | 13,732 | $5.1M | 0.61% |
| 23 | BROWN FORMAN CORP | BF-B | 193,120 | $5.0M | 0.61% |
| 24 | EXXON MOBIL CORP | XOM | 39,059 | $4.7M | 0.57% |
| 25 | META PLATFORMS INC | META | 6,306 | $4.2M | 0.50% |
| 26 | BECTON DICKINSON | BDX | 18,470 | $3.6M | 0.43% |
| 27 | ACCENTURE PLC | ACN | 12,597 | $3.4M | 0.41% |
| 28 | XPEL INC | XPEL | 64,256 | $3.2M | 0.39% |
| 29 | EAGLE MATERIALS | 26969P108 | 12,400 | $2.6M | 0.31% |
| 30 | TORO CO | TORO | 31,810 | $2.5M | 0.30% |
| 31 | LITTELFUSE INC | LFUS | 700 | $177,044 | 0.02% |
| 32 | ACUITY INC | AYI | 470 | $169,219 | 0.02% |
| 33 | BOK FINL CORP | 05561Q201 | 1,400 | $165,844 | 0.02% |
| 34 | WAFD INC | WAFDP | 4,200 | $134,526 | 0.02% |
| 35 | AXOS FINANCIAL | AX | 1,400 | $120,624 | 0.01% |
| 36 | COGNEX CORP | CGNX | 3,200 | $115,136 | 0.01% |
| 37 | LANDSTAR SYS INC | LSTR | 800 | $114,960 | 0.01% |
| 38 | SIMPSON MANUFACTURIN | 829073105 | 500 | $80,735 | 0.01% |
| 39 | GRACO INC | GGG | 900 | $73,773 | 0.01% |
| 40 | FMC CORP | FMC | 2,900 | $40,223 | 0.00% |