SPRUCEGROVE INVESTMENT MANAGEMENT LTD Long-Term Concentrated

CIK: 0001234074 · Show all filings

Period: Q4 2021 (← Previous) (Next →)

Filing Date: Feb 10, 2022

Total Value ($000): $3,962,659 (100.0% shares, 0.0% debt)

Holdings (38)

SSNHZ SAMSUNG ELECTRONIC 12.7%

Value ($000) $501,726 Shares 304,261 Est. Cost $961.38 Unrealized —

ABEV AMBEV SA 8.9%

Value ($000) $350,934 Shares 125,333,437 Est. Cost $2.71 Unrealized —

CPA COPA HOLDINGS 8.2%

Value ($000) $324,036 Shares 3,920,110 Est. Cost $58.78 Unrealized +13.4%

BBD BANCO BRADESCO S A 6.9%

Value ($000) $273,301 Shares 79,912,698 Est. Cost $6.26 Unrealized —

RYAAY RYANAIR HLDGS PLC 4.8%

Value ($000) $190,515 Shares 1,861,774 Est. Cost $66.19 Unrealized —

BRK/B BERKSHIRE HATHAWAY 3.6%

Value ($000) $143,980 Shares 481,540 Est. Cost $202.18 Unrealized +41.7%

CHRW C H ROBINSON WLDWIDE 3.5%

Value ($000) $139,628 Shares 1,297,300 Est. Cost $79.46 Unrealized +10.5%

— WALGREENS BOOTS ALNC 3.5%

Value ($000) $137,084 Shares 2,628,150 Est. Cost $44.45 Unrealized —

TROW T ROWE PRICE GRP 3.1%

Value ($000) $124,729 Shares 634,300 Est. Cost $99.07 Unrealized +70.2%

DIS WALT DISNEY CO 2.9%

Value ($000) $115,285 Shares 744,300 Est. Cost $128.16 Unrealized +23.1%

MMM 3M COMPANY 2.8%

Value ($000) $112,262 Shares 632,000 Est. Cost $114.35 Unrealized +11.3%

WFC WELLS FARGO & CO 2.8%

Value ($000) $110,400 Shares 2,300,960 Est. Cost $26.02 Unrealized +70.7%

INTC INTEL CORP 2.8%

Value ($000) $109,378 Shares 2,123,840 Est. Cost $44.65 Unrealized +5.9%

EXP EAGLE MATERIALS 2.7%

Value ($000) $105,785 Shares 635,500 Est. Cost $92.63 Unrealized +62.0%

RTX RAYTHEON TECHNOLOGIE 2.6%

Value ($000) $102,678 Shares 1,193,100 Est. Cost $62.09 Unrealized +27.8%

BWA BORG WARNER INC 2.5%

Value ($000) $99,898 Shares 2,216,500 Est. Cost $31.37 Unrealized +20.5%

CMGGF COMMERCIAL INTL BK 2.4%

Value ($000) $95,292 Shares 28,876,334 Est. Cost $3.29 Unrealized —

CFR CULLEN FROST BANKERS 2.3%

Value ($000) $92,650 Shares 734,907 Est. Cost $71.72 Unrealized +58.2%

HSIC HENRY SCHEIN INC 2.2%

Value ($000) $85,953 Shares 1,108,642 Est. Cost $65.24 Unrealized +17.2%

MKL MARKEL CORP 2.1%

Value ($000) $82,684 Shares 67,005 Est. Cost $949.42 Unrealized +32.9%

BIIB BIOGEN INC 2.0%

Value ($000) $77,614 Shares 323,500 Est. Cost $282.20 Unrealized -8.9%

MSM MSC INDL DIRECT INC 1.9%

Value ($000) $74,495 Shares 886,210 Est. Cost $74.32 Unrealized +12.5%

XOM EXXON MOBIL CORP 1.8%

Value ($000) $72,253 Shares 1,180,800 Est. Cost $41.69 Unrealized +29.3%

CHKP CHECK POINT SOFTWARE 1.5%

Value ($000) $60,786 Shares 521,500 Est. Cost $111.79 Unrealized +3.7%

AXP AMERICAN EXPRESS CO 1.3%

Value ($000) $52,516 Shares 321,000 Est. Cost $95.81 Unrealized +68.9%

IPGP IPG PHOTONICS CORP 1.2%

Value ($000) $47,480 Shares 275,822 Est. Cost $168.61 Unrealized -2.0%

JNJ JOHNSON & JOHNSON 1.1%

Value ($000) $44,393 Shares 259,500 Est. Cost $109.75 Unrealized +32.2%

GNTX GENTEX CORP 1.1%

Value ($000) $42,639 Shares 1,223,500 Est. Cost $32.29 Unrealized +9.9%

BDX BECTON DICKINSON 0.9%

Value ($000) $35,257 Shares 140,200 Est. Cost $204.82 Unrealized +9.1%

CCL CARNIVAL CORP 0.8%

Value ($000) $30,917 Shares 1,536,642 Est. Cost $24.44 Unrealized -12.5%

DCI DONALDSON INC 0.7%

Value ($000) $26,311 Shares 444,001 Est. Cost $45.07 Unrealized +22.7%

GOOGL ALPHABET INC 0.6%

Value ($000) $23,738 Shares 8,194 Est. Cost $62.17 Unrealized +129.9%

SLB SCHLUMBERGER LTD 0.6%

Value ($000) $23,412 Shares 781,700 Est. Cost $22.50 Unrealized +27.6%

— STATE BK OF INDIA 0.5%

Value ($000) $20,589 Shares 333,700 Est. Cost $61.70 Unrealized —

GILD GILEAD SCIENCES INC 0.5%

Value ($000) $18,007 Shares 248,000 Est. Cost $52.49 Unrealized +12.0%

MLM MARTIN MARIETTA MATL 0.1%

Value ($000) $5,462 Shares 12,400 Est. Cost $186.29 Unrealized +112.0%

BKE BUCKLE INC 0.1%

Value ($000) $4,920 Shares 116,275 Est. Cost $10.28 Unrealized +172.4%

CSL CARLISLE COS INC 0.1%

Value ($000) $3,672 Shares 14,800 Est. Cost $73.94 Unrealized +196.3%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SSNHZ	SAMSUNG ELECTRONIC	304,261	$501,726	12.7%	$961.38	—	GDR REP 1/2 ORD REGS	796050888
ABEV	AMBEV SA	125,333,437	$350,934	8.9%	$2.71	—	ADR REP 1 COM SHS	02319V103
CPA	COPA HOLDINGS	3,920,110	$324,036	8.2%	$58.78	+13.4%	CLASS A	P31076105
BBD	BANCO BRADESCO S A	79,912,698	$273,301	6.9%	$6.26	—	ADR (1 PFD)	059460303
RYAAY	RYANAIR HLDGS PLC	1,861,774	$190,515	4.8%	$66.19	—	ADR EACH REPR 5 ORD	783513203
BRK/B	BERKSHIRE HATHAWAY	481,540	$143,980	3.6%	$202.18	+41.7%	CLASS B	084670702
CHRW	C H ROBINSON WLDWIDE	1,297,300	$139,628	3.5%	$79.46	+10.5%	COMMON	12541W209
—	WALGREENS BOOTS ALNC	2,628,150	$137,084	3.5%	$44.45	—	COMMON	931427108
TROW	T ROWE PRICE GRP	634,300	$124,729	3.1%	$99.07	+70.2%	COMMON	74144T108
DIS	WALT DISNEY CO	744,300	$115,285	2.9%	$128.16	+23.1%	COM	254687106
MMM	3M COMPANY	632,000	$112,262	2.8%	$114.35	+11.3%	COMMON	88579Y101
WFC	WELLS FARGO & CO	2,300,960	$110,400	2.8%	$26.02	+70.7%	COMMON	949746101
INTC	INTEL CORP	2,123,840	$109,378	2.8%	$44.65	+5.9%	COMMON	458140100
EXP	EAGLE MATERIALS	635,500	$105,785	2.7%	$92.63	+62.0%	COMMON	26969P108
RTX	RAYTHEON TECHNOLOGIE	1,193,100	$102,678	2.6%	$62.09	+27.8%	COM USD1	75513E101
BWA	BORG WARNER INC	2,216,500	$99,898	2.5%	$31.37	+20.5%	COMMON	099724106
CMGGF	COMMERCIAL INTL BK	28,876,334	$95,292	2.4%	$3.29	—	GDR REP 1 ORD EGP10	201712205
CFR	CULLEN FROST BANKERS	734,907	$92,650	2.3%	$71.72	+58.2%	COMMON	229899109
HSIC	HENRY SCHEIN INC	1,108,642	$85,953	2.2%	$65.24	+17.2%	COM	806407102
MKL	MARKEL CORP	67,005	$82,684	2.1%	$949.42	+32.9%	COMMON	570535104
BIIB	BIOGEN INC	323,500	$77,614	2.0%	$282.20	-8.9%	COMMON	09062X103
MSM	MSC INDL DIRECT INC	886,210	$74,495	1.9%	$74.32	+12.5%	CLASS A	553530106
XOM	EXXON MOBIL CORP	1,180,800	$72,253	1.8%	$41.69	+29.3%	COMMON	30231G102
CHKP	CHECK POINT SOFTWARE	521,500	$60,786	1.5%	$111.79	+3.7%	ORDINARY	M22465104
AXP	AMERICAN EXPRESS CO	321,000	$52,516	1.3%	$95.81	+68.9%	COMMON	025816109
IPGP	IPG PHOTONICS CORP	275,822	$47,480	1.2%	$168.61	-2.0%	COMMON	44980X109
JNJ	JOHNSON & JOHNSON	259,500	$44,393	1.1%	$109.75	+32.2%	COMMON	478160104
GNTX	GENTEX CORP	1,223,500	$42,639	1.1%	$32.29	+9.9%	COMMON	371901109
BDX	BECTON DICKINSON	140,200	$35,257	0.9%	$204.82	+9.1%	COMMON	075887109
CCL	CARNIVAL CORP	1,536,642	$30,917	0.8%	$24.44	-12.5%	COMMON	143658300
DCI	DONALDSON INC	444,001	$26,311	0.7%	$45.07	+22.7%	COMMON	257651109
GOOGL	ALPHABET INC	8,194	$23,738	0.6%	$62.17	+129.9%	CLASS A	02079K305
SLB	SCHLUMBERGER LTD	781,700	$23,412	0.6%	$22.50	+27.6%	COMMON	806857108
—	STATE BK OF INDIA	333,700	$20,589	0.5%	$61.70	—	GDR(2 INR10 REG S)	586552203
GILD	GILEAD SCIENCES INC	248,000	$18,007	0.5%	$52.49	+12.0%	COMMON	375558103
MLM	MARTIN MARIETTA MATL	12,400	$5,462	0.1%	$186.29	+112.0%	COMMON	573284106
BKE	BUCKLE INC	116,275	$4,920	0.1%	$10.28	+172.4%	COMMON	118440106
CSL	CARLISLE COS INC	14,800	$3,672	0.1%	$73.94	+196.3%	COMMON	142339100