SPRUCEGROVE INVESTMENT MANAGEMENT LTD Long-Term Concentrated

CIK: 0001234074 · Show all filings

Period: Q1 2025 (← Previous) (Next →)

Filing Date: May 13, 2025

Total Value ($000): $929,874 (100.0% shares, 0.0% debt)

Holdings (32)

CPA COPA HOLDINGS 20.8%

Value ($000) $193,334 Shares 3,079,532 Est. Cost $65.14 Unrealized +35.2%

RYAAY RYANAIR HLDGS PLC 18.4%

Value ($000) $171,314 Shares 7,423,000 Est. Cost $57.37 Unrealized —

SSNHZ SAMSUNG ELECTRONIC 14.3%

Value ($000) $133,238 Shares 204,738 Est. Cost $968.65 Unrealized —

CMGGF COMMERCIAL INTL BK 4.4%

Value ($000) $41,161 Shares 27,258,655 Est. Cost $2.96 Unrealized —

BRK/B BERKSHIRE HATHAWAY 2.8%

Value ($000) $25,830 Shares 48,499 Est. Cost $214.82 Unrealized +126.3%

MKL MARKEL GROUP INC 2.5%

Value ($000) $23,606 Shares 12,626 Est. Cost $1123.01 Unrealized +63.8%

GILD GILEAD SCIENCES INC 2.4%

Value ($000) $22,631 Shares 201,970 Est. Cost $64.61 Unrealized +55.6%

HSIC HENRY SCHEIN INC 2.2%

Value ($000) $20,539 Shares 299,890 Est. Cost $70.01 Unrealized +5.5%

DCI DONALDSON INC 2.0%

Value ($000) $18,539 Shares 276,461 Est. Cost $56.26 Unrealized +21.0%

RTX RTX CORPORATION 2.0%

Value ($000) $18,310 Shares 138,230 Est. Cost $67.44 Unrealized +85.0%

DIS WALT DISNEY CO 2.0%

Value ($000) $18,178 Shares 184,170 Est. Cost $122.81 Unrealized -13.5%

META META PLATFORMS INC 1.9%

Value ($000) $17,349 Shares 30,101 Est. Cost $212.48 Unrealized +202.7%

QCOM QUALCOMM INC 1.8%

Value ($000) $16,707 Shares 108,760 Est. Cost $134.34 Unrealized +18.9%

TROW PRICE T ROWE GROUP 1.8%

Value ($000) $16,433 Shares 178,868 Est. Cost $99.90 Unrealized +0.7%

WFC WELLS FARGO & CO 1.8%

Value ($000) $16,387 Shares 228,260 Est. Cost $35.85 Unrealized +105.6%

CFR CULLEN FROST BANKERS 1.7%

Value ($000) $15,904 Shares 127,030 Est. Cost $82.16 Unrealized +59.0%

CHRW C H ROBINSON WLDWIDE 1.7%

Value ($000) $15,778 Shares 154,082 Est. Cost $79.43 Unrealized +24.7%

MSM MSC INDL DIRECT INC 1.6%

Value ($000) $14,805 Shares 190,610 Est. Cost $82.67 Unrealized -3.2%

BF/B BROWN FORMAN CORP 1.6%

Value ($000) $14,707 Shares 433,320 Est. Cost $38.39 Unrealized -14.6%

SNA SNAP-ON INC 1.5%

Value ($000) $14,013 Shares 41,580 Est. Cost $300.25 Unrealized +10.5%

GNTX GENTEX CORP 1.5%

Value ($000) $13,802 Shares 592,360 Est. Cost $32.08 Unrealized -20.3%

JNJ JOHNSON & JOHNSON 1.5%

Value ($000) $13,763 Shares 82,990 Est. Cost $130.38 Unrealized +16.9%

BDX BECTON DICKINSON 1.3%

Value ($000) $12,294 Shares 53,670 Est. Cost $224.12 Unrealized +1.5%

AXP AMERICAN EXPRESS CO 1.3%

Value ($000) $12,212 Shares 45,390 Est. Cost $113.15 Unrealized +158.5%

XOM EXXON MOBIL CORP 1.3%

Value ($000) $11,868 Shares 99,790 Est. Cost $87.44 Unrealized +22.6%

INTC INTEL CORP 1.3%

Value ($000) $11,735 Shares 516,720 Est. Cost $41.46 Unrealized -47.2%

GOOGL ALPHABET INC 1.0%

Value ($000) $9,237 Shares 59,734 Est. Cost $154.78 Unrealized +16.7%

SBKFF STATE BK OF INDIA 0.9%

Value ($000) $8,672 Shares 97,660 Est. Cost $75.34 Unrealized —

BWA BORG WARNER INC 0.3%

Value ($000) $2,531 Shares 88,330 Est. Cost $31.68 Unrealized -5.6%

BIIB BIOGEN INC 0.2%

Value ($000) $1,931 Shares 14,110 Est. Cost $264.00 Unrealized -45.8%

TTC TORO CO 0.2%

Value ($000) $1,542 Shares 21,200 Est. Cost $79.05 Unrealized 0.0%

XPEL XPEL INC 0.2%

Value ($000) $1,528 Shares 52,000 Est. Cost $37.48 Unrealized 0.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
CPA	COPA HOLDINGS	3,079,532	$193,334	20.8%	$65.14	+35.2%	CLASS A	P31076105
RYAAY	RYANAIR HLDGS PLC	7,423,000	$171,314	18.4%	$57.37	—	ADR EACH REPR 5 ORD	783513203
SSNHZ	SAMSUNG ELECTRONIC	204,738	$133,238	14.3%	$968.65	—	GDR REP 1/2 ORD REGS	796050888
CMGGF	COMMERCIAL INTL BK	27,258,655	$41,161	4.4%	$2.96	—	GDR REP 1 ORD EGP10	201712205
BRK/B	BERKSHIRE HATHAWAY	48,499	$25,830	2.8%	$214.82	+126.3%	CLASS B	084670702
MKL	MARKEL GROUP INC	12,626	$23,606	2.5%	$1123.01	+63.8%	COMMON	570535104
GILD	GILEAD SCIENCES INC	201,970	$22,631	2.4%	$64.61	+55.6%	COMMON	375558103
HSIC	HENRY SCHEIN INC	299,890	$20,539	2.2%	$70.01	+5.5%	COM	806407102
DCI	DONALDSON INC	276,461	$18,539	2.0%	$56.26	+21.0%	COMMON	257651109
RTX	RTX CORPORATION	138,230	$18,310	2.0%	$67.44	+85.0%	COM USD1	75513E101
DIS	WALT DISNEY CO	184,170	$18,178	2.0%	$122.81	-13.5%	COM	254687106
META	META PLATFORMS INC	30,101	$17,349	1.9%	$212.48	+202.7%	COM USD0.000006 CL A	30303M102
QCOM	QUALCOMM INC	108,760	$16,707	1.8%	$134.34	+18.9%	COMMON	747525103
TROW	PRICE T ROWE GROUP	178,868	$16,433	1.8%	$99.90	+0.7%	COM	74144T108
WFC	WELLS FARGO & CO	228,260	$16,387	1.8%	$35.85	+105.6%	COMMON	949746101
CFR	CULLEN FROST BANKERS	127,030	$15,904	1.7%	$82.16	+59.0%	COMMON	229899109
CHRW	C H ROBINSON WLDWIDE	154,082	$15,778	1.7%	$79.43	+24.7%	COMMON	12541W209
MSM	MSC INDL DIRECT INC	190,610	$14,805	1.6%	$82.67	-3.2%	CLASS A	553530106
BF/B	BROWN FORMAN CORP	433,320	$14,707	1.6%	$38.39	-14.6%	CLASS B	115637209
SNA	SNAP-ON INC	41,580	$14,013	1.5%	$300.25	+10.5%	COMMON	833034101
GNTX	GENTEX CORP	592,360	$13,802	1.5%	$32.08	-20.3%	COMMON	371901109
JNJ	JOHNSON & JOHNSON	82,990	$13,763	1.5%	$130.38	+16.9%	COMMON	478160104
BDX	BECTON DICKINSON	53,670	$12,294	1.3%	$224.12	+1.5%	COMMON	075887109
AXP	AMERICAN EXPRESS CO	45,390	$12,212	1.3%	$113.15	+158.5%	COMMON	025816109
XOM	EXXON MOBIL CORP	99,790	$11,868	1.3%	$87.44	+22.6%	COMMON	30231G102
INTC	INTEL CORP	516,720	$11,735	1.3%	$41.46	-47.2%	COMMON	458140100
GOOGL	ALPHABET INC	59,734	$9,237	1.0%	$154.78	+16.7%	CLASS A	02079K305
SBKFF	STATE BK OF INDIA	97,660	$8,672	0.9%	$75.34	—	GDR(2 INR10 REG S)	856552203
BWA	BORG WARNER INC	88,330	$2,531	0.3%	$31.68	-5.6%	COMMON	099724106
BIIB	BIOGEN INC	14,110	$1,931	0.2%	$264.00	-45.8%	COMMON	09062X103
TTC	TORO CO	21,200	$1,542	0.2%	$79.05	0.0%	COMMON	891092108
XPEL	XPEL INC	52,000	$1,528	0.2%	$37.48	0.0%	COMMON	98379L100