SPRUCEGROVE INVESTMENT MANAGEMENT LTD — 13F Holdings & Portfolio
CIK 1234074 · latest 13F-HR filed 2026-05-13
SPRUCEGROVE INVESTMENT MANAGEMENT LTD manages $625.0M in 13F-reported U.S. long-equity assets across 42 reported positions as of its 2026-03-31 13F-HR filing. Its largest disclosed positions are RYAAY (35.54%), CPA (30.88%), SAMSUNG ELECTRONIC (14.69%). Quarter over quarter (versus its 2025-12-31 filing) the fund opened 3 new positions, exited 1, added to 7, and trimmed 27.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
$625.0M
Long-equity book
42
Distinct positions
2026-03-31
Filed 2026-05-13
+3 / −1 / ↑7 / ↓27
vs 2025-12-31
| Name | Title / Status | Ownership | Type |
|---|
Top Adds (vs prior quarter)
- EAGLE MATERIALS$626.9K +24.5%
- TORO CO$374.8K +15.0%
- LITTELFUSE INC$60.5K +34.2%
- COGNEX CORP$41.6K +36.2%
- BOK FINL CORP$13.4K +8.1%
Top Trims
- RYANAIR HLDGS PLC-$105.4M -32.2%
- COPA HOLDINGS-$37.5M -16.3%
- SAMSUNG ELECTRONIC-$23.1M -20.1%
- STATE BK OF INDIA-$7.0M -69.0%
- MSC INDL DIRECT INC-$5.1M -97.5%
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | RYANAIR HLDGS PLC | RYAAY | 783513203 | $222.1M | 35.54% | 3,843,067 | SH |
| 2 | COPA HOLDINGS | CPA | P31076105 | $193.0M | 30.88% | 1,699,010 | SH |
| 3 | SAMSUNG ELECTRONIC | — | 796050888 | $91.8M | 14.69% | 32,382 | SH |
| 4 | DONALDSON INC | DCI | 257651109 | $6.2M | 0.99% | 72,604 | SH |
| 5 | MARKEL GROUP INC | MKL | 570535104 | $5.9M | 0.95% | 3,088 | SH |
| 6 | HENRY SCHEIN INC | HSIC | 806407102 | $5.9M | 0.94% | 80,127 | SH |
| 7 | C H ROBINSON WLDWIDE | CHRW | 12541W209 | $5.4M | 0.87% | 32,612 | SH |
| 8 | GILEAD SCIENCES INC | GILD | 375558103 | $5.3M | 0.85% | 37,900 | SH |
| 9 | SNAP-ON INC | SNA | 833034101 | $5.3M | 0.84% | 14,500 | SH |
| 10 | JOHNSON & JOHNSON | JNJ | 478160104 | $5.1M | 0.81% | 20,800 | SH |
| 11 | WELLS FARGO & CO | WFC | 949746101 | $5.0M | 0.80% | 62,520 | SH |
| 12 | EXXON MOBIL CORP | XOM | 30231G102 | $4.8M | 0.77% | 28,369 | SH |
| 13 | ALPHABET INC | GOOGL | 02079K305 | $4.7M | 0.75% | 16,284 | SH |
| 14 | WALT DISNEY CO | DIS | 254687106 | $4.7M | 0.75% | 48,541 | SH |
| 15 | CULLEN FROST BANKERS | CFR | 229899109 | $4.5M | 0.72% | 32,708 | SH |
| 16 | BROWN FORMAN CORP | BF.B | 115637209 | $4.4M | 0.70% | 165,200 | SH |
| 17 | BERKSHIRE HATHAWAY | BRK.B | 084670702 | $4.3M | 0.69% | 8,996 | SH |
| 18 | DOLLAR GEN CORP | DG | 256677105 | $4.3M | 0.68% | 36,029 | SH |
| 19 | PRICE T ROWE GROUP | TROW | 74144T108 | $4.2M | 0.68% | 46,870 | SH |
| 20 | GENTEX CORP | GNTX | 371901109 | $4.1M | 0.66% | 188,734 | SH |
| 21 | QUALCOMM INC | QCOM | 747525103 | $4.0M | 0.65% | 31,329 | SH |
| 22 | AMERICAN EXPRESS CO | AXP | 025816109 | $3.3M | 0.53% | 10,953 | SH |
| 23 | ACCENTURE PLC | ACN | G1151C101 | $3.3M | 0.52% | 16,436 | SH |
| 24 | EAGLE MATERIALS | EXP | 26969P108 | $3.2M | 0.51% | 16,837 | SH |
| 25 | STATE BK OF INDIA | SBKJY | 856552203 | $3.1M | 0.50% | 29,590 | SH |
| 26 | TORO CO | TTC | 891092108 | $2.9M | 0.46% | 30,810 | SH |
| 27 | XPEL INC | XPEL | 98379L100 | $2.9M | 0.46% | 64,800 | SH |
| 28 | META PLATFORMS INC | META | 30303M102 | $2.7M | 0.43% | 4,705 | SH |
| 29 | NIKE INC | NKE | 654106103 | $2.7M | 0.42% | 50,200 | SH |
| 30 | BECTON DICKINSON | BDX | 075887109 | $2.5M | 0.39% | 15,600 | SH |
| 31 | MICROSOFT CORP | MSFT | 594918104 | $1.5M | 0.25% | 4,160 | SH |
| 32 | WATERS CORP | WAT | 941848103 | $656.4K | 0.11% | 2,204 | SH |
| 33 | LITTELFUSE INC | LFUS | 537008104 | $237.5K | 0.04% | 700 | SH |
| 34 | BOK FINL CORP | BOKF | 05561Q201 | $179.3K | 0.03% | 1,400 | SH |
| 35 | COGNEX CORP | CGNX | 192422103 | $156.8K | 0.03% | 3,200 | SH |
| 36 | WAFD INC | WAFD | 938824109 | $131.9K | 0.02% | 4,200 | SH |
| 37 | ACUITY INC | AYI | 00508Y102 | $131.7K | 0.02% | 470 | SH |
| 38 | MSC INDL DIRECT INC | MSM | 553530106 | $129.2K | 0.02% | 1,400 | SH |
| 39 | LANDSTAR SYS INC | LSTR | 515098101 | $128.2K | 0.02% | 800 | SH |
| 40 | AXOS FINANCIAL | AX | 05465C100 | $119.1K | 0.02% | 1,400 | SH |
| 41 | SIMPSON MANUFACTURIN | SSD | 829073105 | $85.8K | 0.01% | 500 | SH |
| 42 | GRACO INC | GGG | 384109104 | $76.2K | 0.01% | 900 | SH |
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-03-31 | 2026-05-13 | $625.0M | 42 | 0001193125-26-220832 |
| 2025-12-31 | 2026-02-03 | $829.8M | 40 | 0001193125-26-034374 |
| 2025-09-30 | 2025-11-14 | $1.25B | 41 | 0001193125-25-281856 |