SPRUCEGROVE INVESTMENT MANAGEMENT LTD Long-Term Concentrated

CIK: 0001234074 · Show all filings

Period: Q4 2019 (← Previous) (Next →)

Filing Date: Feb 14, 2020

Total Value ($000): $1,831,391 (100.0% shares, 0.0% debt)

Holdings (37)

SSNHZ SAMSUNG ELECTRS LTD 16.5%

Value ($000) $301,571 Shares 250,001 Est. Cost $635.13 Unrealized —

BBD BANCO BRADESCO S A 13.0%

Value ($000) $238,870 Shares 26,689,387 Est. Cost $9.67 Unrealized —

Value ($000) $147,707 Shares 2,917,966 Est. Cost $63.18 Unrealized —

INFY INFOSYS LIMITED 7.8%

Value ($000) $142,473 Shares 13,805,560 Est. Cost $26.74 Unrealized —

CPA COPA HOLDINGS 6.1%

Value ($000) $111,091 Shares 1,027,857 Est. Cost $58.53 Unrealized +49.6%

RYAAY RYANAIR HLDGS PLC 3.7%

Value ($000) $68,423 Shares 781,000 Est. Cost $66.69 Unrealized —

DIS WALT DISNEY CO 2.8%

Value ($000) $51,213 Shares 354,100 Est. Cost $106.53 Unrealized +27.4%

INTC INTEL CORP 2.2%

Value ($000) $40,653 Shares 679,240 Est. Cost $31.28 Unrealized +57.5%

SLB SCHLUMBERGER LTD 2.2%

Value ($000) $40,284 Shares 1,002,100 Est. Cost $41.00 Unrealized -25.1%

— UNITED TECHNOLOGIES 2.1%

Value ($000) $38,983 Shares 260,300 Est. Cost $105.04 Unrealized —

TROW T ROWE PRICE GRP 2.1%

Value ($000) $38,782 Shares 318,300 Est. Cost $63.55 Unrealized +44.0%

BRK/B BERKSHIRE HATHAWAY 2.1%

Value ($000) $37,928 Shares 167,454 Est. Cost $136.87 Unrealized +58.7%

SBKFF STATE BK OF INDIA 2.1%

Value ($000) $37,610 Shares 803,640 Est. Cost $47.41 Unrealized —

— WALGREENS BOOTS ALNC 2.0%

Value ($000) $36,355 Shares 616,600 Est. Cost $62.88 Unrealized —

WFC WELLS FARGO & CO 1.8%

Value ($000) $32,412 Shares 602,460 Est. Cost $29.82 Unrealized +49.9%

BKE BUCKLE INC 1.7%

Value ($000) $32,021 Shares 1,184,200 Est. Cost $9.38 Unrealized +29.5%

MSM MSC INDL DIRECT INC 1.7%

Value ($000) $31,529 Shares 401,800 Est. Cost $73.75 Unrealized +0.2%

CCL CARNIVAL CORP 1.6%

Value ($000) $29,245 Shares 575,342 Est. Cost $39.69 Unrealized +10.5%

CHRW C H ROBINSON WLDWIDE 1.6%

Value ($000) $28,598 Shares 365,700 Est. Cost $70.27 Unrealized -2.3%

CSL CARLISLE COS INC 1.5%

Value ($000) $26,946 Shares 166,500 Est. Cost $73.94 Unrealized +93.5%

BWA BORG WARNER INC 1.4%

Value ($000) $26,327 Shares 606,900 Est. Cost $30.89 Unrealized +7.9%

EXP EAGLE MATERIALS 1.4%

Value ($000) $25,865 Shares 285,300 Est. Cost $76.01 Unrealized +16.9%

GNTX GENTEX CORP 1.4%

Value ($000) $25,589 Shares 883,000 Est. Cost $16.07 Unrealized +75.2%

CFR CULLEN FROST BANKERS 1.4%

Value ($000) $25,159 Shares 257,300 Est. Cost $82.04 Unrealized -6.0%

MKL MARKEL CORP 1.3%

Value ($000) $23,763 Shares 20,787 Est. Cost $523.59 Unrealized +117.5%

GOOGL ALPHABET INC 1.2%

Value ($000) $21,580 Shares 16,112 Est. Cost $36.73 Unrealized +74.3%

MMM 3M COMPANY 1.2%

Value ($000) $21,497 Shares 121,850 Est. Cost $96.88 Unrealized +15.4%

MLM MARTIN MARIETTA MATL 1.1%

Value ($000) $21,001 Shares 75,100 Est. Cost $186.29 Unrealized +37.2%

BDX BECTON DICKINSON 1.0%

Value ($000) $18,508 Shares 68,050 Est. Cost $166.71 Unrealized +35.8%

OII OCEANEERING INTL INC 1.0%

Value ($000) $17,938 Shares 1,203,100 Est. Cost $29.30 Unrealized -52.5%

GD GENERAL DYNAMICS 1.0%

Value ($000) $17,927 Shares 101,655 Est. Cost $140.42 Unrealized +11.0%

JNJ JOHNSON & JOHNSON 0.9%

Value ($000) $17,154 Shares 117,600 Est. Cost $62.20 Unrealized +83.4%

AXP AMERICAN EXPRESS CO 0.8%

Value ($000) $15,225 Shares 122,300 Est. Cost $66.78 Unrealized +64.9%

XRAY DENTSPLY SIRONA INC 0.8%

Value ($000) $14,498 Shares 256,189 Est. Cost $47.52 Unrealized +17.3%

AAPL APPLE INC 0.8%

Value ($000) $14,389 Shares 49,000 Est. Cost $40.43 Unrealized +53.4%

IPGP IPG PHOTONICS CORP 0.5%

Value ($000) $9,550 Shares 65,900 Est. Cost $141.83 Unrealized -1.9%

CMGGF COMMERCIAL INTL BK 0.1%

Value ($000) $2,727 Shares 534,610 Est. Cost $5.10 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SSNHZ	SAMSUNG ELECTRS LTD	250,001	$301,571	16.5%	$635.13	—	GDR 144A / REG S	796050888
BBD	BANCO BRADESCO S A	26,689,387	$238,870	13.0%	$9.67	—	ADR (1 PFD)	059460303
PKX	POSCO	2,917,966	$147,707	8.1%	$63.18	—	ADR (0.25 ORD)	693483109
INFY	INFOSYS LIMITED	13,805,560	$142,473	7.8%	$26.74	—	ADR	456788108
CPA	COPA HOLDINGS	1,027,857	$111,091	6.1%	$58.53	+49.6%	CLASS A	P31076105
RYAAY	RYANAIR HLDGS PLC	781,000	$68,423	3.7%	$66.69	—	ADR EACH REPR 5 ORD	783513203
DIS	WALT DISNEY CO	354,100	$51,213	2.8%	$106.53	+27.4%	COMMON	254687106
INTC	INTEL CORP	679,240	$40,653	2.2%	$31.28	+57.5%	COMMON	458140100
SLB	SCHLUMBERGER LTD	1,002,100	$40,284	2.2%	$41.00	-25.1%	COMMON	806857108
—	UNITED TECHNOLOGIES	260,300	$38,983	2.1%	$105.04	—	COMMON	913017109
TROW	T ROWE PRICE GRP	318,300	$38,782	2.1%	$63.55	+44.0%	COMMON	74144T108
BRK/B	BERKSHIRE HATHAWAY	167,454	$37,928	2.1%	$136.87	+58.7%	CLASS B	084670702
SBKFF	STATE BK OF INDIA	803,640	$37,610	2.1%	$47.41	—	GDR(2 INR10 REG S)	856552203
—	WALGREENS BOOTS ALNC	616,600	$36,355	2.0%	$62.88	—	COMMON	931427108
WFC	WELLS FARGO & CO	602,460	$32,412	1.8%	$29.82	+49.9%	COMMON	949746101
BKE	BUCKLE INC	1,184,200	$32,021	1.7%	$9.38	+29.5%	COMMON	118440106
MSM	MSC INDL DIRECT INC	401,800	$31,529	1.7%	$73.75	+0.2%	CLASS A	553530106
CCL	CARNIVAL CORP	575,342	$29,245	1.6%	$39.69	+10.5%	COMMON	143658300
CHRW	C H ROBINSON WLDWIDE	365,700	$28,598	1.6%	$70.27	-2.3%	COMMON	12541W209
CSL	CARLISLE COS INC	166,500	$26,946	1.5%	$73.94	+93.5%	COMMON	142339100
BWA	BORG WARNER INC	606,900	$26,327	1.4%	$30.89	+7.9%	COMMON	099724106
EXP	EAGLE MATERIALS	285,300	$25,865	1.4%	$76.01	+16.9%	COMMON	26969P108
GNTX	GENTEX CORP	883,000	$25,589	1.4%	$16.07	+75.2%	COMMON	371901109
CFR	CULLEN FROST BANKERS	257,300	$25,159	1.4%	$82.04	-6.0%	COMMON	229899109
MKL	MARKEL CORP	20,787	$23,763	1.3%	$523.59	+117.5%	COMMON	570535104
GOOGL	ALPHABET INC	16,112	$21,580	1.2%	$36.73	+74.3%	CLASS A	02079K305
MMM	3M COMPANY	121,850	$21,497	1.2%	$96.88	+15.4%	COMMON	88579Y101
MLM	MARTIN MARIETTA MATL	75,100	$21,001	1.1%	$186.29	+37.2%	COMMON	573284106
BDX	BECTON DICKINSON	68,050	$18,508	1.0%	$166.71	+35.8%	COMMON	075887109
OII	OCEANEERING INTL INC	1,203,100	$17,938	1.0%	$29.30	-52.5%	COMMON	675232102
GD	GENERAL DYNAMICS	101,655	$17,927	1.0%	$140.42	+11.0%	COMMON	369550108
JNJ	JOHNSON & JOHNSON	117,600	$17,154	0.9%	$62.20	+83.4%	COMMON	478160104
AXP	AMERICAN EXPRESS CO	122,300	$15,225	0.8%	$66.78	+64.9%	COMMON	025816109
XRAY	DENTSPLY SIRONA INC	256,189	$14,498	0.8%	$47.52	+17.3%	COM	24906P109
AAPL	APPLE INC	49,000	$14,389	0.8%	$40.43	+53.4%	COMMON	037833100
IPGP	IPG PHOTONICS CORP	65,900	$9,550	0.5%	$141.83	-1.9%	COMMON	44980X109
CMGGF	COMMERCIAL INTL BK	534,610	$2,727	0.1%	$5.10	—	GDR REP 1 ORD EGP10	201712205