SPRUCEGROVE INVESTMENT MANAGEMENT LTD Long-Term Concentrated

CIK: 0001234074 · Show all filings

Period: Q1 2020 (← Previous) (Next →)

Filing Date: May 15, 2020

Total Value ($000): $1,349,550 (100.0% shares, 0.0% debt)

Holdings (41)

SSNHZ SAMSUNG ELECTRS LTD 18.5%

Value ($000) $249,959 Shares 254,901 Est. Cost $641.78 Unrealized —

BBD BANCO BRADESCO S A 9.0%

Value ($000) $121,392 Shares 29,899,587 Est. Cost $9.07 Unrealized —

INFY INFOSYS LIMITED 6.2%

Value ($000) $83,404 Shares 10,158,860 Est. Cost $26.74 Unrealized —

RYAAY RYANAIR HLDGS PLC 6.0%

Value ($000) $81,354 Shares 1,532,374 Est. Cost $60.02 Unrealized —

CPA COPA HOLDINGS 5.8%

Value ($000) $78,703 Shares 1,737,757 Est. Cost $64.14 Unrealized +12.7%

BRK/B BERKSHIRE HATHAWAY 3.0%

Value ($000) $40,580 Shares 221,954 Est. Cost $155.45 Unrealized +36.7%

DIS WALT DISNEY CO 3.0%

Value ($000) $40,321 Shares 417,400 Est. Cost $109.11 Unrealized +13.2%

INTC INTEL CORP 2.9%

Value ($000) $39,277 Shares 725,740 Est. Cost $32.63 Unrealized +60.4%

ABEV AMBEV SA 2.9%

Value ($000) $38,566 Shares 16,767,900 Est. Cost $2.30 Unrealized —

— WALGREENS BOOTS ALNC 2.7%

Value ($000) $37,110 Shares 811,150 Est. Cost $58.77 Unrealized —

CHKP CHECK POINT SOFTWARE 2.7%

Value ($000) $36,295 Shares 361,000 Est. Cost $107.09 Unrealized 0.0%

TROW T ROWE PRICE GRP 2.5%

Value ($000) $33,328 Shares 341,300 Est. Cost $65.70 Unrealized +45.4%

CHRW C H ROBINSON WLDWIDE 2.4%

Value ($000) $32,412 Shares 489,600 Est. Cost $68.29 Unrealized -8.6%

— UNITED TECHNOLOGIES 2.0%

Value ($000) $26,337 Shares 279,200 Est. Cost $104.32 Unrealized —

MSM MSC INDL DIRECT INC 1.9%

Value ($000) $26,028 Shares 473,500 Est. Cost $72.56 Unrealized -9.2%

MMM 3M COMPANY 1.9%

Value ($000) $25,152 Shares 184,250 Est. Cost $99.95 Unrealized +6.0%

EXP EAGLE MATERIALS 1.6%

Value ($000) $21,849 Shares 374,000 Est. Cost $76.34 Unrealized +1.4%

MKL MARKEL CORP 1.6%

Value ($000) $21,172 Shares 22,817 Est. Cost $578.74 Unrealized +97.6%

WFC WELLS FARGO & CO 1.6%

Value ($000) $21,053 Shares 733,560 Est. Cost $31.04 Unrealized +18.0%

CFR CULLEN FROST BANKERS 1.5%

Value ($000) $19,828 Shares 355,400 Est. Cost $78.21 Unrealized -12.9%

CSL CARLISLE COS INC 1.5%

Value ($000) $19,807 Shares 158,100 Est. Cost $73.94 Unrealized +86.8%

GNTX GENTEX CORP 1.5%

Value ($000) $19,731 Shares 890,400 Est. Cost $16.07 Unrealized +72.8%

SBKFF STATE BK OF INDIA 1.5%

Value ($000) $19,681 Shares 756,970 Est. Cost $47.41 Unrealized —

SLB SCHLUMBERGER LTD 1.4%

Value ($000) $19,493 Shares 1,445,000 Est. Cost $36.19 Unrealized -30.1%

BWA BORG WARNER INC 1.4%

Value ($000) $18,999 Shares 779,600 Est. Cost $29.90 Unrealized -11.7%

BKE BUCKLE INC 1.3%

Value ($000) $17,036 Shares 1,242,600 Est. Cost $9.51 Unrealized +27.8%

GOOGL ALPHABET INC 1.2%

Value ($000) $16,165 Shares 13,912 Est. Cost $36.73 Unrealized +83.1%

JNJ JOHNSON & JOHNSON 1.2%

Value ($000) $15,919 Shares 121,400 Est. Cost $64.01 Unrealized +87.7%

IPGP IPG PHOTONICS CORP 1.2%

Value ($000) $15,737 Shares 142,700 Est. Cost $135.89 Unrealized -3.8%

BDX BECTON DICKINSON 1.1%

Value ($000) $15,084 Shares 65,650 Est. Cost $166.71 Unrealized +34.9%

CCL CARNIVAL CORP 1.1%

Value ($000) $14,733 Shares 1,118,642 Est. Cost $37.56 Unrealized -6.0%

GD GENERAL DYNAMICS 1.1%

Value ($000) $14,376 Shares 108,655 Est. Cost $140.71 Unrealized +3.0%

HSIC HENRY SCHEIN INC 1.0%

Value ($000) $13,059 Shares 258,500 Est. Cost $63.43 Unrealized 0.0%

AXP AMERICAN EXPRESS CO 0.8%

Value ($000) $11,121 Shares 129,900 Est. Cost $69.17 Unrealized +55.5%

XRAY DENTSPLY SIRONA INC 0.7%

Value ($000) $9,913 Shares 255,289 Est. Cost $47.52 Unrealized +7.2%

XOM EXXON MOBIL CORP 0.7%

Value ($000) $8,931 Shares 235,200 Est. Cost $42.09 Unrealized 0.0%

AAPL APPLE INC 0.6%

Value ($000) $8,137 Shares 32,000 Est. Cost $40.43 Unrealized +75.8%

MLM MARTIN MARIETTA MATL 0.6%

Value ($000) $7,986 Shares 42,200 Est. Cost $186.29 Unrealized +23.3%

DCI DONALDSON INC 0.3%

Value ($000) $4,160 Shares 107,700 Est. Cost $44.52 Unrealized 0.0%

CMGGF COMMERCIAL INTL BK 0.3%

Value ($000) $3,487 Shares 968,560 Est. Cost $4.43 Unrealized —

OII OCEANEERING INTL INC 0.1%

Value ($000) $1,875 Shares 637,693 Est. Cost $29.30 Unrealized -64.4%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SSNHZ	SAMSUNG ELECTRS LTD	254,901	$249,959	18.5%	$641.78	—	GDR 144A / REG S	796050888
BBD	BANCO BRADESCO S A	29,899,587	$121,392	9.0%	$9.07	—	ADR (1 PFD)	059460303
INFY	INFOSYS LIMITED	10,158,860	$83,404	6.2%	$26.74	—	ADR	456788108
RYAAY	RYANAIR HLDGS PLC	1,532,374	$81,354	6.0%	$60.02	—	ADR EACH REPR 5 ORD	783513203
CPA	COPA HOLDINGS	1,737,757	$78,703	5.8%	$64.14	+12.7%	CLASS A	P31076105
BRK/B	BERKSHIRE HATHAWAY	221,954	$40,580	3.0%	$155.45	+36.7%	CLASS B	084670702
DIS	WALT DISNEY CO	417,400	$40,321	3.0%	$109.11	+13.2%	COMMON	254687106
INTC	INTEL CORP	725,740	$39,277	2.9%	$32.63	+60.4%	COMMON	458140100
ABEV	AMBEV SA	16,767,900	$38,566	2.9%	$2.30	—	ADR REP 1 COM SHS	02319V103
—	WALGREENS BOOTS ALNC	811,150	$37,110	2.7%	$58.77	—	COMMON	931427108
CHKP	CHECK POINT SOFTWARE	361,000	$36,295	2.7%	$107.09	0.0%	ORDINARY	M22465104
TROW	T ROWE PRICE GRP	341,300	$33,328	2.5%	$65.70	+45.4%	COMMON	74144T108
CHRW	C H ROBINSON WLDWIDE	489,600	$32,412	2.4%	$68.29	-8.6%	COMMON	12541W209
—	UNITED TECHNOLOGIES	279,200	$26,337	2.0%	$104.32	—	COMMON	913017109
MSM	MSC INDL DIRECT INC	473,500	$26,028	1.9%	$72.56	-9.2%	CLASS A	553530106
MMM	3M COMPANY	184,250	$25,152	1.9%	$99.95	+6.0%	COMMON	88579Y101
EXP	EAGLE MATERIALS	374,000	$21,849	1.6%	$76.34	+1.4%	COMMON	26969P108
MKL	MARKEL CORP	22,817	$21,172	1.6%	$578.74	+97.6%	COMMON	570535104
WFC	WELLS FARGO & CO	733,560	$21,053	1.6%	$31.04	+18.0%	COMMON	949746101
CFR	CULLEN FROST BANKERS	355,400	$19,828	1.5%	$78.21	-12.9%	COMMON	229899109
CSL	CARLISLE COS INC	158,100	$19,807	1.5%	$73.94	+86.8%	COMMON	142339100
GNTX	GENTEX CORP	890,400	$19,731	1.5%	$16.07	+72.8%	COMMON	371901109
SBKFF	STATE BK OF INDIA	756,970	$19,681	1.5%	$47.41	—	GDR(2 INR10 REG S)	856552203
SLB	SCHLUMBERGER LTD	1,445,000	$19,493	1.4%	$36.19	-30.1%	COMMON	806857108
BWA	BORG WARNER INC	779,600	$18,999	1.4%	$29.90	-11.7%	COMMON	099724106
BKE	BUCKLE INC	1,242,600	$17,036	1.3%	$9.51	+27.8%	COMMON	118440106
GOOGL	ALPHABET INC	13,912	$16,165	1.2%	$36.73	+83.1%	CLASS A	02079K305
JNJ	JOHNSON & JOHNSON	121,400	$15,919	1.2%	$64.01	+87.7%	COMMON	478160104
IPGP	IPG PHOTONICS CORP	142,700	$15,737	1.2%	$135.89	-3.8%	COMMON	44980X109
BDX	BECTON DICKINSON	65,650	$15,084	1.1%	$166.71	+34.9%	COMMON	075887109
CCL	CARNIVAL CORP	1,118,642	$14,733	1.1%	$37.56	-6.0%	COMMON	143658300
GD	GENERAL DYNAMICS	108,655	$14,376	1.1%	$140.71	+3.0%	COMMON	369550108
HSIC	HENRY SCHEIN INC	258,500	$13,059	1.0%	$63.43	0.0%	COM	806407102
AXP	AMERICAN EXPRESS CO	129,900	$11,121	0.8%	$69.17	+55.5%	COMMON	025816109
XRAY	DENTSPLY SIRONA INC	255,289	$9,913	0.7%	$47.52	+7.2%	COM	24906P109
XOM	EXXON MOBIL CORP	235,200	$8,931	0.7%	$42.09	0.0%	COMMON	30231G102
AAPL	APPLE INC	32,000	$8,137	0.6%	$40.43	+75.8%	COMMON	037833100
MLM	MARTIN MARIETTA MATL	42,200	$7,986	0.6%	$186.29	+23.3%	COMMON	573284106
DCI	DONALDSON INC	107,700	$4,160	0.3%	$44.52	0.0%	COMMON	257651109
CMGGF	COMMERCIAL INTL BK	968,560	$3,487	0.3%	$4.43	—	GDR REP 1 ORD EGP10	201712205
OII	OCEANEERING INTL INC	637,693	$1,875	0.1%	$29.30	-64.4%	COMMON	675232102