SPRUCEGROVE INVESTMENT MANAGEMENT LTD Long-Term Concentrated

CIK: 0001234074 · Show all filings

Period: Q1 2019 (← Previous) (Next →)

Filing Date: May 7, 2019

Total Value ($000): $1,494,237 (100.0% shares, 0.0% debt)

Holdings (45)

BBD BANCO BRADESCO S A 16.5%

Value ($000) $246,271 Shares 22,572,986 Est. Cost $9.67 Unrealized —

SSNHZ SAMSUNG ELECTRS LTD 15.0%

Value ($000) $224,111 Shares 227,895 Est. Cost $594.60 Unrealized —

PKX POSCO 11.2%

Value ($000) $166,611 Shares 3,017,766 Est. Cost $63.18 Unrealized —

INFY INFOSYS LIMITED 10.6%

Value ($000) $157,866 Shares 14,443,360 Est. Cost $26.74 Unrealized —

CPA COPA HOLDINGS 5.7%

Value ($000) $85,266 Shares 1,057,757 Est. Cost $58.53 Unrealized +23.6%

SBKFF STATE BK OF INDIA 2.2%

Value ($000) $33,092 Shares 715,500 Est. Cost $47.01 Unrealized —

— UNITED TECHNOLOGIES 2.1%

Value ($000) $30,727 Shares 238,400 Est. Cost $101.31 Unrealized —

MKL MARKEL CORP 1.9%

Value ($000) $28,649 Shares 28,757 Est. Cost $523.59 Unrealized +94.0%

BRK/B BERKSHIRE HATHAWAY 1.9%

Value ($000) $27,874 Shares 138,754 Est. Cost $111.86 Unrealized +80.5%

WFC WELLS FARGO & CO 1.7%

Value ($000) $26,067 Shares 539,460 Est. Cost $28.55 Unrealized +42.8%

INTC INTEL CORP 1.7%

Value ($000) $25,955 Shares 483,340 Est. Cost $25.85 Unrealized +69.5%

TROW T ROWE PRICE GRP 1.7%

Value ($000) $25,511 Shares 254,800 Est. Cost $58.01 Unrealized +26.2%

DIS WALT DISNEY CO 1.7%

Value ($000) $25,481 Shares 229,500 Est. Cost $92.20 Unrealized +17.0%

CSL CARLISLE COS INC 1.5%

Value ($000) $22,599 Shares 184,300 Est. Cost $73.94 Unrealized +43.5%

SLB SCHLUMBERGER LTD 1.5%

Value ($000) $22,421 Shares 514,600 Est. Cost $50.30 Unrealized -28.9%

GOOGL ALPHABET INC 1.5%

Value ($000) $22,140 Shares 18,812 Est. Cost $36.73 Unrealized +52.6%

— WALGREENS BOOTS ALNC 1.4%

Value ($000) $20,930 Shares 330,800 Est. Cost $69.12 Unrealized —

GNTX GENTEX CORP 1.4%

Value ($000) $20,424 Shares 987,600 Est. Cost $16.07 Unrealized +30.1%

EXP EAGLE MATERIALS 1.4%

Value ($000) $20,308 Shares 240,900 Est. Cost $74.39 Unrealized -6.1%

QCOM QUALCOMM INC 1.2%

Value ($000) $18,021 Shares 316,000 Est. Cost $45.74 Unrealized 0.0%

JNJ JOHNSON & JOHNSON 1.2%

Value ($000) $17,641 Shares 126,200 Est. Cost $60.55 Unrealized +82.2%

MLM MARTIN MARIETTA MATL 1.2%

Value ($000) $17,281 Shares 85,900 Est. Cost $186.29 Unrealized -4.6%

OII OCEANEERING INTL INC 1.0%

Value ($000) $15,392 Shares 976,000 Est. Cost $32.47 Unrealized -52.3%

XRAY DENTSPLY SIRONA INC 1.0%

Value ($000) $15,164 Shares 305,789 Est. Cost $47.52 Unrealized -7.3%

AXP AMERICAN EXPRESS CO 0.9%

Value ($000) $13,641 Shares 124,800 Est. Cost $66.78 Unrealized +43.5%

PG PROCTER & GAMBLE CO 0.9%

Value ($000) $12,913 Shares 124,100 Est. Cost $55.27 Unrealized +48.5%

CFR CULLEN FROST BANKERS 0.9%

Value ($000) $12,794 Shares 131,800 Est. Cost $88.90 Unrealized -9.5%

MSM MSC INDL DIRECT INC 0.7%

Value ($000) $10,827 Shares 130,900 Est. Cost $76.08 Unrealized +8.2%

MDT MEDTRONIC PLC 0.7%

Value ($000) $9,875 Shares 108,422 Est. Cost $58.81 Unrealized +26.4%

— TIFFANY & CO 0.7%

Value ($000) $9,784 Shares 92,700 Est. Cost $67.29 Unrealized —

BKE BUCKLE INC 0.6%

Value ($000) $9,648 Shares 515,400 Est. Cost $8.58 Unrealized +3.9%

AAPL APPLE INC 0.6%

Value ($000) $9,516 Shares 50,100 Est. Cost $40.43 Unrealized 0.0%

TDY TELEDYNE TECH INC 0.6%

Value ($000) $8,959 Shares 37,800 Est. Cost $89.64 Unrealized +152.7%

WAFD WASHINGTON FEDERAL 0.6%

Value ($000) $8,840 Shares 305,995 Est. Cost $12.55 Unrealized +87.1%

CCL CARNIVAL CORP 0.6%

Value ($000) $8,680 Shares 171,142 Est. Cost $28.80 Unrealized +83.3%

BWA BORG WARNER INC 0.6%

Value ($000) $8,604 Shares 224,000 Est. Cost $30.48 Unrealized +1.8%

— FLIR SYS INC 0.5%

Value ($000) $8,051 Shares 169,200 Est. Cost $27.48 Unrealized —

MMM 3M COMPANY 0.5%

Value ($000) $7,490 Shares 36,050 Est. Cost $62.37 Unrealized +110.1%

BDX BECTON DICKINSON 0.5%

Value ($000) $7,429 Shares 29,750 Est. Cost $78.11 Unrealized +172.4%

MSFT MICROSOFT CORP 0.5%

Value ($000) $7,232 Shares 61,321 Est. Cost $28.48 Unrealized +259.2%

VMI VALMONT INDS INC 0.5%

Value ($000) $7,064 Shares 54,300 Est. Cost $117.11 Unrealized +10.1%

WABC WESTAMERICA BANCORP 0.5%

Value ($000) $7,008 Shares 113,400 Est. Cost $31.45 Unrealized +57.4%

GD GENERAL DYNAMICS 0.3%

Value ($000) $5,223 Shares 30,855 Est. Cost $101.12 Unrealized +42.1%

HOG HARLEY DAVIDSON INC 0.2%

Value ($000) $2,906 Shares 81,500 Est. Cost $48.80 Unrealized -25.4%

HTLD HEARTLAND EXPRESS IN 0.1%

Value ($000) $1,951 Shares 101,200 Est. Cost $14.41 Unrealized +37.8%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
BBD	BANCO BRADESCO S A	22,572,986	$246,271	16.5%	$9.67	—	ADR (1 PFD)	059460303
SSNHZ	SAMSUNG ELECTRS LTD	227,895	$224,111	15.0%	$594.60	—	GDR REP 25 ORD SHS	796050888
PKX	POSCO	3,017,766	$166,611	11.2%	$63.18	—	ADR (0.25 ORD)	693483109
INFY	INFOSYS LIMITED	14,443,360	$157,866	10.6%	$26.74	—	ADR	456788108
CPA	COPA HOLDINGS	1,057,757	$85,266	5.7%	$58.53	+23.6%	CLASS A	P31076105
SBKFF	STATE BK OF INDIA	715,500	$33,092	2.2%	$47.01	—	GDR(2 INR10 REG S)	856552203
—	UNITED TECHNOLOGIES	238,400	$30,727	2.1%	$101.31	—	COMMON	913017109
MKL	MARKEL CORP	28,757	$28,649	1.9%	$523.59	+94.0%	COMMON	570535104
BRK/B	BERKSHIRE HATHAWAY	138,754	$27,874	1.9%	$111.86	+80.5%	CLASS B	084670702
WFC	WELLS FARGO & CO	539,460	$26,067	1.7%	$28.55	+42.8%	COMMON	949746101
INTC	INTEL CORP	483,340	$25,955	1.7%	$25.85	+69.5%	COMMON	458140100
TROW	T ROWE PRICE GRP	254,800	$25,511	1.7%	$58.01	+26.2%	COMMON	74144T108
DIS	WALT DISNEY CO	229,500	$25,481	1.7%	$92.20	+17.0%	COMMON	254687106
CSL	CARLISLE COS INC	184,300	$22,599	1.5%	$73.94	+43.5%	COMMON	142339100
SLB	SCHLUMBERGER LTD	514,600	$22,421	1.5%	$50.30	-28.9%	COMMON	806857108
GOOGL	ALPHABET INC	18,812	$22,140	1.5%	$36.73	+52.6%	CLASS A	02079K305
—	WALGREENS BOOTS ALNC	330,800	$20,930	1.4%	$69.12	—	COMMON	931427108
GNTX	GENTEX CORP	987,600	$20,424	1.4%	$16.07	+30.1%	COMMON	371901109
EXP	EAGLE MATERIALS	240,900	$20,308	1.4%	$74.39	-6.1%	COMMON	26969P108
QCOM	QUALCOMM INC	316,000	$18,021	1.2%	$45.74	0.0%	COMMON	747525103
JNJ	JOHNSON & JOHNSON	126,200	$17,641	1.2%	$60.55	+82.2%	COMMON	478160104
MLM	MARTIN MARIETTA MATL	85,900	$17,281	1.2%	$186.29	-4.6%	COMMON	573284106
OII	OCEANEERING INTL INC	976,000	$15,392	1.0%	$32.47	-52.3%	COMMON	675232102
XRAY	DENTSPLY SIRONA INC	305,789	$15,164	1.0%	$47.52	-7.3%	COM USD0.01	24906P109
AXP	AMERICAN EXPRESS CO	124,800	$13,641	0.9%	$66.78	+43.5%	COMMON	025816109
PG	PROCTER & GAMBLE CO	124,100	$12,913	0.9%	$55.27	+48.5%	COMMON	742718109
CFR	CULLEN FROST BANKERS	131,800	$12,794	0.9%	$88.90	-9.5%	COMMON	229899109
MSM	MSC INDL DIRECT INC	130,900	$10,827	0.7%	$76.08	+8.2%	CLASS A	553530106
MDT	MEDTRONIC PLC	108,422	$9,875	0.7%	$58.81	+26.4%	SHS	G5960L103
—	TIFFANY & CO	92,700	$9,784	0.7%	$67.29	—	COMMON	886547108
BKE	BUCKLE INC	515,400	$9,648	0.6%	$8.58	+3.9%	COMMON	118440106
AAPL	APPLE INC	50,100	$9,516	0.6%	$40.43	0.0%	COMMON	037833100
TDY	TELEDYNE TECH INC	37,800	$8,959	0.6%	$89.64	+152.7%	COMMON	879360105
WAFD	WASHINGTON FEDERAL	305,995	$8,840	0.6%	$12.55	+87.1%	COMMON	938824109
CCL	CARNIVAL CORP	171,142	$8,680	0.6%	$28.80	+83.3%	COMMON	143658300
BWA	BORG WARNER INC	224,000	$8,604	0.6%	$30.48	+1.8%	COMMON	099724106
—	FLIR SYS INC	169,200	$8,051	0.5%	$27.48	—	COMMON	302445101
MMM	3M COMPANY	36,050	$7,490	0.5%	$62.37	+110.1%	COMMON	88579Y101
BDX	BECTON DICKINSON	29,750	$7,429	0.5%	$78.11	+172.4%	COMMON	075887109
MSFT	MICROSOFT CORP	61,321	$7,232	0.5%	$28.48	+259.2%	COMMON	594918104
VMI	VALMONT INDS INC	54,300	$7,064	0.5%	$117.11	+10.1%	COMMON	920253101
WABC	WESTAMERICA BANCORP	113,400	$7,008	0.5%	$31.45	+57.4%	COMMON	957090103
GD	GENERAL DYNAMICS	30,855	$5,223	0.3%	$101.12	+42.1%	COMMON	369550108
HOG	HARLEY DAVIDSON INC	81,500	$2,906	0.2%	$48.80	-25.4%	COMMON	412822108
HTLD	HEARTLAND EXPRESS IN	101,200	$1,951	0.1%	$14.41	+37.8%	COMMON	422347104