SPRUCEGROVE INVESTMENT MANAGEMENT LTD
SEC Form 13F institutional filer · CIK 0001234074
13F-HR · 21 reported holdings · 2026-03-31
Reported long-US-equity value
$0.08B
Top-10 concentration
60.2%
SPRUCEGROVE INVESTMENT MANAGEMENT LTD — $83.9M AUM allocation strategy
SPRUCEGROVE INVESTMENT MANAGEMENT LTD files SEC Form 13F and reports $83.9M of long US equity value across 21 reported holdings for 2026-03-31.
Its largest sector bet is Health Care 22.3%, followed by Financials 20.0% and Communication Services 14.4%.
The top 10 holdings account for 60% of reported value — a conviction-weighted book concentrated in its best ideas. The sector and industry splits below are of the same reported value. Track quarter-over-quarter adds, trims, new positions and exits below — sourced from SEC 13F filings, public domain.
SPRUCEGROVE INVESTMENT MANAGEMENT LTD — latest SEC 13F insights
Reported long-US-equity value (13F AUM)
$83.9M
total across 21 reported holdings · 2026-03-31 · excludes shorts, cash, non-US
Top-10 concentration
60% of value
higher = narrower conviction; lower = spread / hedging
Biggest trims (shares)
−$BF.B −27.9K sh · −$665K−$GILD −22K sh · −$2.07M−$CHRW −20.3K sh · −$3.09M
Exited to nil (held last quarter, gone now)
None this quarter
Sector allocation (share of reported value)
each slice is a share of the reported long-US-equity value — smaller sectors and the rest of the book roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Industry allocation (share of reported value)
- Interactive Media & Services8.8%—
- Health Care Distributors7.0%—
- Air Freight & Logistics6.4%—
- Biotechnology6.3%—
- Industrial Machinery & Supplies & Components6.3%—
- Pharmaceuticals6.1%—
- Diversified Banks6.0%—
- Integrated Oil & Gas5.8%—
- Other holdings47.4%—
the finer GICS cut of the same book — same denominator — smaller industries roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Top S&P 500 holdings
10 of 10 rows · sorted by Value ↓
| Ticker | Holding | Shares | Value | Δ QoQ | Weight |
|---|---|---|---|---|---|
| $HSIC | Henry Schein Inc | 80.1K | $5.91M | -19.1K | 7.0% |
| $CHRW | C.H. Robinson Worldwide Inc | 32.6K | $5.42M | -20.3K | 6.5% |
| $GILD | Gilead Sciences Inc | 37.9K | $5.28M | -22K | 6.3% |
| $SNA | Snap-On Incorporated | 14.5K | $5.27M | -2.68K | 6.3% |
| $JNJ | Johnson & Johnson | 20.8K | $5.08M | -6.39K | 6.1% |
| $WFC | Wells Fargo & Company | 62.5K | $4.98M | -18.3K | 5.9% |
| $XOM | ExxonMobil Holdings Corporation | 28.4K | $4.81M | -10.7K | 5.7% |
| $GOOG | Alphabet Inc. Class C Capital Stock | 16.3K | $4.68M | -4.06K | 5.6% |
| $DIS | Walt Disney Company | 48.5K | $4.68M | -8.47K | 5.6% |
| $BF.B | Brown-Forman Corporation Class B | 165K | $4.37M | -27.9K | 5.2% |
…and 11 more holdings in the full 13F filing (top positions only shown).
SEC Form 13F data sets · public domain · 45-day filing lag · >$100M AUM managers · as reported
← All 13F filers·← QuantOrb.pro
How to read Δ QoQ — the five insight categories, and the caveats
The categories. Analysts, quants and retail traders look past total portfolio value to isolate actionable signals. Five categories matter.
Conviction & concentration shifts
New positions vs complete exits — a brand-new stock signals high conviction; a full liquidation suggests a broken thesis or tax-loss harvesting. Aggressive sizing — look at share count, not dollars: a 20% share increase during a drawdown is strong dip-buying. Concentration — a narrowing top-5/10 means conviction; spreading capital across more names means hedging.
Sector & macro allocation rotations
Aggregating Δ QoQ moves across sectors shows where smart money is leaning in or sneaking out — rotating out of growth into defensives or energy, for example. The fund's total long equity exposure quarter-over-quarter is a proxy for overall institutional risk appetite.
Crowding & smart-money consensus
When several managers initiate or expand the same stock in the same quarter, that is institutional consensus. Contrarian reads: top pickers buying hard into a beaten-down name the market is selling.
Derivative & option overlays
Reported call/put changes indicate whether managers are adding downside hedges or leveraging upside exposure. Note: a long increase may be half of a market-neutral pair trade.
Who reads this
| Retail "cloners" | High-conviction ideas to replicate ~45 days after quarter-end. |
| Corporate IR | Which funds bought or dumped the stock, before the next call. |
| Quant / algo traders | Cross-sectional factor inputs: flow, momentum, ownership. |
Four caveats before you trade on it
- 45-day lag — holdings are quarter-end; positions may already be closed.
- Long-only — 13Fs miss shorts, pair trades and cash.
- No non-US / fixed income — the picture is US equities plus options.
- Corporate actions — splits and spinoffs distort raw share deltas.
Newsletter signup
Free subscription. Daily trading day morning dispatch. No spam.