SPRUCEGROVE INVESTMENT MANAGEMENT LTD Long-Term Concentrated

CIK: 0001234074 · Show all filings

Period: Q3 2019 (← Previous) (Next →)

Filing Date: Nov 12, 2019

Total Value ($000): $1,609,558 (100.0% shares, 0.0% debt)

Holdings (40)

SSNHZ SAMSUNG ELECTRS LTD 15.5%

Value ($000) $249,189 Shares 243,072 Est. Cost $618.85 Unrealized —

BBD BANCO BRADESCO S A 13.1%

Value ($000) $211,256 Shares 25,952,787 Est. Cost $9.69 Unrealized —

INFY INFOSYS LIMITED 9.8%

Value ($000) $157,968 Shares 13,893,360 Est. Cost $26.74 Unrealized —

Value ($000) $141,483 Shares 3,000,066 Est. Cost $63.18 Unrealized —

CPA COPA HOLDINGS 6.5%

Value ($000) $104,977 Shares 1,063,057 Est. Cost $58.53 Unrealized +43.6%

RYAAY RYANAIR HLDGS PLC 3.2%

Value ($000) $51,079 Shares 769,500 Est. Cost $66.38 Unrealized —

DIS WALT DISNEY CO 2.5%

Value ($000) $40,462 Shares 310,482 Est. Cost $102.43 Unrealized +31.1%

TROW T ROWE PRICE GRP 2.3%

Value ($000) $36,366 Shares 318,300 Est. Cost $63.55 Unrealized +34.9%

— UNITED TECHNOLOGIES 2.1%

Value ($000) $33,474 Shares 245,198 Est. Cost $102.29 Unrealized —

INTC INTEL CORP 2.0%

Value ($000) $32,340 Shares 627,598 Est. Cost $29.80 Unrealized +44.3%

— WALGREENS BOOTS ALNC 2.0%

Value ($000) $31,686 Shares 572,872 Est. Cost $63.18 Unrealized —

BRK/B BERKSHIRE HATHAWAY 1.9%

Value ($000) $31,361 Shares 150,760 Est. Cost $127.98 Unrealized +61.0%

SLB SCHLUMBERGER LTD 1.9%

Value ($000) $31,025 Shares 907,960 Est. Cost $42.07 Unrealized -26.4%

WFC WELLS FARGO & CO 1.9%

Value ($000) $30,751 Shares 609,660 Est. Cost $29.82 Unrealized +33.4%

SBKFF STATE BK OF INDIA 1.7%

Value ($000) $27,581 Shares 718,268 Est. Cost $47.49 Unrealized —

MKL MARKEL CORP 1.6%

Value ($000) $25,656 Shares 21,707 Est. Cost $523.59 Unrealized +117.0%

GNTX GENTEX CORP 1.6%

Value ($000) $25,638 Shares 931,100 Est. Cost $16.07 Unrealized +64.5%

CSL CARLISLE COS INC 1.6%

Value ($000) $25,295 Shares 173,800 Est. Cost $73.94 Unrealized +75.7%

EXP EAGLE MATERIALS 1.5%

Value ($000) $24,517 Shares 272,382 Est. Cost $75.40 Unrealized +10.3%

MLM MARTIN MARIETTA MATL 1.5%

Value ($000) $23,545 Shares 85,900 Est. Cost $186.29 Unrealized +26.9%

MSM MSC INDL DIRECT INC 1.4%

Value ($000) $21,760 Shares 300,020 Est. Cost $73.71 Unrealized -5.0%

BKE BUCKLE INC 1.3%

Value ($000) $21,524 Shares 1,044,836 Est. Cost $9.01 Unrealized +7.5%

GOOGL ALPHABET INC 1.3%

Value ($000) $20,530 Shares 16,812 Est. Cost $36.73 Unrealized +60.0%

CFR CULLEN FROST BANKERS 1.1%

Value ($000) $17,713 Shares 200,038 Est. Cost $83.45 Unrealized -12.6%

BWA BORG WARNER INC 1.1%

Value ($000) $17,710 Shares 482,838 Est. Cost $30.27 Unrealized -3.7%

OII OCEANEERING INTL INC 1.0%

Value ($000) $16,503 Shares 1,217,900 Est. Cost $29.30 Unrealized -48.3%

CCL CARNIVAL CORP 1.0%

Value ($000) $15,669 Shares 358,482 Est. Cost $37.17 Unrealized +20.6%

JNJ JOHNSON & JOHNSON 0.9%

Value ($000) $15,041 Shares 116,254 Est. Cost $61.59 Unrealized +78.6%

CHRW C H ROBINSON WLDWIDE 0.9%

Value ($000) $14,571 Shares 171,874 Est. Cost $72.09 Unrealized 0.0%

AXP AMERICAN EXPRESS CO 0.9%

Value ($000) $14,466 Shares 122,300 Est. Cost $66.78 Unrealized +68.6%

XRAY DENTSPLY SIRONA INC 0.9%

Value ($000) $14,361 Shares 269,389 Est. Cost $47.52 Unrealized +13.0%

BDX BECTON DICKINSON 0.9%

Value ($000) $13,945 Shares 55,126 Est. Cost $152.71 Unrealized +46.4%

— TIFFANY & CO 0.7%

Value ($000) $11,561 Shares 124,812 Est. Cost $74.86 Unrealized —

AAPL APPLE INC 0.7%

Value ($000) $11,221 Shares 50,100 Est. Cost $40.43 Unrealized +24.2%

MMM 3M COMPANY 0.7%

Value ($000) $10,673 Shares 64,918 Est. Cost $83.83 Unrealized +32.0%

GD GENERAL DYNAMICS 0.6%

Value ($000) $10,395 Shares 56,887 Est. Cost $128.25 Unrealized +25.1%

IPGP IPG PHOTONICS CORP 0.6%

Value ($000) $8,936 Shares 65,900 Est. Cost $141.83 Unrealized -6.6%

WAFD WASHINGTON FEDERAL 0.5%

Value ($000) $7,250 Shares 196,000 Est. Cost $12.55 Unrealized +130.0%

WABC WESTAMERICA BANCORP 0.3%

Value ($000) $5,511 Shares 88,632 Est. Cost $31.45 Unrealized +59.5%

VMI VALMONT INDS INC 0.3%

Value ($000) $4,569 Shares 33,000 Est. Cost $117.11 Unrealized +14.6%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SSNHZ	SAMSUNG ELECTRS LTD	243,072	$249,189	15.5%	$618.85	—	GDR 144A / REG S	796050888
BBD	BANCO BRADESCO S A	25,952,787	$211,256	13.1%	$9.69	—	ADR (1 PFD)	059460303
INFY	INFOSYS LIMITED	13,893,360	$157,968	9.8%	$26.74	—	ADR	456788108
PKX	POSCO	3,000,066	$141,483	8.8%	$63.18	—	ADR (0.25 ORD)	693483109
CPA	COPA HOLDINGS	1,063,057	$104,977	6.5%	$58.53	+43.6%	CLASS A	P31076105
RYAAY	RYANAIR HLDGS PLC	769,500	$51,079	3.2%	$66.38	—	ADR EACH REPR 5 ORD	783513203
DIS	WALT DISNEY CO	310,482	$40,462	2.5%	$102.43	+31.1%	COMMON	254687106
TROW	T ROWE PRICE GRP	318,300	$36,366	2.3%	$63.55	+34.9%	COMMON	74144T108
—	UNITED TECHNOLOGIES	245,198	$33,474	2.1%	$102.29	—	COMMON	913017109
INTC	INTEL CORP	627,598	$32,340	2.0%	$29.80	+44.3%	COMMON	458140100
—	WALGREENS BOOTS ALNC	572,872	$31,686	2.0%	$63.18	—	COMMON	931427108
BRK/B	BERKSHIRE HATHAWAY	150,760	$31,361	1.9%	$127.98	+61.0%	CLASS B	084670702
SLB	SCHLUMBERGER LTD	907,960	$31,025	1.9%	$42.07	-26.4%	COMMON	806857108
WFC	WELLS FARGO & CO	609,660	$30,751	1.9%	$29.82	+33.4%	COMMON	949746101
SBKFF	STATE BK OF INDIA	718,268	$27,581	1.7%	$47.49	—	GDR(2 INR10 REG S)	856552203
MKL	MARKEL CORP	21,707	$25,656	1.6%	$523.59	+117.0%	COMMON	570535104
GNTX	GENTEX CORP	931,100	$25,638	1.6%	$16.07	+64.5%	COMMON	371901109
CSL	CARLISLE COS INC	173,800	$25,295	1.6%	$73.94	+75.7%	COMMON	142339100
EXP	EAGLE MATERIALS	272,382	$24,517	1.5%	$75.40	+10.3%	COMMON	26969P108
MLM	MARTIN MARIETTA MATL	85,900	$23,545	1.5%	$186.29	+26.9%	COMMON	573284106
MSM	MSC INDL DIRECT INC	300,020	$21,760	1.4%	$73.71	-5.0%	CLASS A	553530106
BKE	BUCKLE INC	1,044,836	$21,524	1.3%	$9.01	+7.5%	COMMON	118440106
GOOGL	ALPHABET INC	16,812	$20,530	1.3%	$36.73	+60.0%	CLASS A	02079K305
CFR	CULLEN FROST BANKERS	200,038	$17,713	1.1%	$83.45	-12.6%	COMMON	229899109
BWA	BORG WARNER INC	482,838	$17,710	1.1%	$30.27	-3.7%	COMMON	099724106
OII	OCEANEERING INTL INC	1,217,900	$16,503	1.0%	$29.30	-48.3%	COMMON	675232102
CCL	CARNIVAL CORP	358,482	$15,669	1.0%	$37.17	+20.6%	COMMON	143658300
JNJ	JOHNSON & JOHNSON	116,254	$15,041	0.9%	$61.59	+78.6%	COMMON	478160104
CHRW	C H ROBINSON WLDWIDE	171,874	$14,571	0.9%	$72.09	0.0%	COMMON	12541W209
AXP	AMERICAN EXPRESS CO	122,300	$14,466	0.9%	$66.78	+68.6%	COMMON	025816109
XRAY	DENTSPLY SIRONA INC	269,389	$14,361	0.9%	$47.52	+13.0%	COM	24906P109
BDX	BECTON DICKINSON	55,126	$13,945	0.9%	$152.71	+46.4%	COMMON	075887109
—	TIFFANY & CO	124,812	$11,561	0.7%	$74.86	—	COMMON	886547108
AAPL	APPLE INC	50,100	$11,221	0.7%	$40.43	+24.2%	COMMON	037833100
MMM	3M COMPANY	64,918	$10,673	0.7%	$83.83	+32.0%	COMMON	88579Y101
GD	GENERAL DYNAMICS	56,887	$10,395	0.6%	$128.25	+25.1%	COMMON	369550108
IPGP	IPG PHOTONICS CORP	65,900	$8,936	0.6%	$141.83	-6.6%	COMMON	44980X109
WAFD	WASHINGTON FEDERAL	196,000	$7,250	0.5%	$12.55	+130.0%	COMMON	938824109
WABC	WESTAMERICA BANCORP	88,632	$5,511	0.3%	$31.45	+59.5%	COMMON	957090103
VMI	VALMONT INDS INC	33,000	$4,569	0.3%	$117.11	+14.6%	COMMON	920253101