Mawer Investment Management Ltd.

CIK 1538449 · View on SEC EDGAR ↗

Portfolio value
$14.7B
#382 of 9,443 by 13F value · top 4.0%
Positions
142
As of
June 30, 2026

Portfolio value QoQ: -4.8% 13F does not disclose cash

Top 10 holdings weight
39.49%
Top 25 holdings weight
67.73%
Positions above 1%
25
Effective number of positions
41.3

Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)

Turnover Q2 2026: 11.36% Est. buys $1,713,055,420 · sells $2,911,997,420

Median holding: 4.0 quarters Tracked Q4 2024–Q2 2026 · 71.7% still held

New positions
28
Increased
39
Decreased
74
Closed
12
On this page

Performance vs S&P 500

Tracked Q4 2024–Q2 2026
+6.0%
S&P 500 total return (same window)
+28.1%
Excess return
-22.0%

Annualized: +4.0% · S&P 500: +18.0%

Approximates a buy-and-hold portfolio built from quarterly SEC 13F snapshots. Excludes cash, short positions, options/derivatives, and non-13(f) securities — reflects the disclosed long-equity book only, not total fund AUM. SEC filing lag is up to 45 days; this is not a real-time-copyable timing.

Priceable coverage: 95.4% · Options excluded: 0.0%

Sector breakdown

Industrials
18.6%
Technology
13.2%
Financial Services
12.7%
Health Care
12.5%
Financials
12.0%
Communication Services
8.9%
Retail
5.4%
Energy
4.4%
Utilities
4.1%
Consumer Discretionary
2.6%
Consumer products
1.2%
Telecommunication
0.9%
Communications
0.3%
Consumer Staples
0.3%
Packaging
0.2%
Materials
0.2%
Other/Unmapped
2.6%

Full portfolio 142 positions

Type Streak 8Q trend
GOOG Alphabet Inc. - Class C Capital Stock $947,659,680 6.44% 2,682,081 $10,679,682 Down ×2
AMZN Amazon.com, Inc. - Common Stock $721,716,639 4.91% 3,028,097 $-38,477,400 Down ×2
MSFT Microsoft Corporation - Common Stock $626,627,346 4.26% 1,679,876 $-230,400,603 Down ×2
SHEL Shell PLC American Depositary Shares (each representing two (2) Ordinary Shares) $621,389,432 4.22% 8,013,792 $-40,801,816 Up ×1
NVDA NVIDIA Corporation - Common Stock $615,992,272 4.19% 3,078,576 $450,048,579 Up ×4
V Visa Inc. $593,609,172 4.04% 1,730,185 $8,245,550 Down ×2
WAT Waters Corporation Common Stock $456,403,803 3.10% 1,216,947 $38,403,682 Down ×1
COR Cencora, Inc. Common Stock $421,312,792 2.86% 1,488,843 $97,383,247 Up ×2
APH Amphenol Corporation Common Stock $415,812,811 2.83% 2,358,285 $-87,914,441 Down ×2
AON Aon plc Class A Ordinary Shares (Ireland) $388,615,965 2.64% 1,171,624 $-23,602,500 Down ×2
AER AerCap Holdings N.V. Ordinary Shares $352,822,296 2.40% 2,420,238 $-14,801,036 Down ×2
WFC Wells Fargo & Company Common Stock $346,684,386 2.36% 4,195,116 $-25,108,962 Down ×2
NOC Northrop Grumman Corporation Common Stock $339,744,912 2.31% 667,069 $-126,471,979 Down ×2
AEP American Electric Power Company, Inc. - Common Stock $312,454,613 2.12% 2,283,858 $137,529,402 Up ×2
MRSH Marsh Common Stock $311,866,071 2.12% 1,871,159 $-290,975,015 Down ×2
BRKA $310,772,750 2.11% 415 $-54,760,510 Down ×4
META Meta Platforms, Inc. - Class A Common Stock $307,380,030 2.09% 545,687 $-43,222,950 Down ×2
JPM JP Morgan Chase & Co. Common Stock $303,697,429 2.06% 927,802 $-23,872,970 Down ×1
SO Southern Company (The) Common Stock $289,361,192 1.97% 3,023,312 $-40,906,794 Down ×1
TSEM Tower Semiconductor Ltd. - Ordinary Shares $270,566,735 1.84% 1,038,086 $101,222,393 Up ×1
ICE Intercontinental Exchange Inc. Common Stock $250,108,060 1.70% 2,031,582 $-77,122,574 Down ×2
MA Mastercard Incorporated Common Stock $222,997,930 1.52% 434,186 $-2,955,317 Down ×2
CME CME Group Inc. - Class A Common Stock $211,100,672 1.44% 955,942 $-93,493,488 Down ×2
SPGI S&P Global Inc. Common Stock $174,540,640 1.19% 428,573 $11,588,207 Up ×4
SII Sprott Inc. Common Shares $148,381,319 1.01% 1,320,706 $-44,702,589 Down ×2
UBER Uber Technologies, Inc. Common Stock $143,151,585 0.97% 1,983,808 $-16,085,323 Down ×2
MEDP Medpace Holdings, Inc. - Common Stock $141,493,208 0.96% 267,175 $-72,721,472 Down ×1
MLM Martin Marietta Materials, Inc. Common Stock $139,299,002 0.95% 241,545 $-11,213,523 Down ×5
MCK McKesson Corporation Common Stock $136,347,264 0.93% 180,449 $62,203,219 Up ×1
BWXT BWX Technologies, Inc. Common Stock $134,259,838 0.91% 689,750 $-15,868,949 Down ×4
CDW CDW Corporation - Common Stock $133,520,944 0.91% 949,381 $6,269,019 Down ×2
TXN Texas Instruments Incorporated - Common Stock $133,291,241 0.91% 447,181 $48,328,006 Up ×1
BKNG Booking Holdings Inc. - Common Stock $131,983,690 0.90% 740,483 $-106,749,875 Up ×1
CPAY Corpay, Inc. Common Stock $122,562,375 0.83% 367,757 $-26,850,514 Down ×2
AJG Arthur J. Gallagher & Co. Common Stock $117,086,439 0.80% 510,025 $-8,806,317 Down ×6
PG Procter & Gamble Company (The) Common Stock $115,043,333 0.78% 784,529 $-7,908,762 Down ×5
FCN FTI Consulting, Inc. Common Stock $109,800,701 0.75% 736,868 $-121,949,188 Down ×2
ABBV AbbVie Inc. Common Stock $108,518,743 0.74% 431,246 $41,122,942 Up ×4
AAON AAON, Inc. - Common Stock $108,487,247 0.74% 855,173 $38,267,004 Up ×2
ABT Abbott Laboratories Common Stock $107,679,071 0.73% 1,186,677 $-21,040,259 Down ×1
ABNB Airbnb, Inc. - Class A Common Stock $106,869,799 0.73% 746,819 $-1,186,355 Down ×1
CACI CACI International, Inc. Class A Common Stock $104,103,787 0.71% 224,720 $-17,835,674 Up ×1
NOVT Novanta Inc. - Common Shares $95,652,324 0.65% 589,573 $38,701,690 Up ×4
NU Nu Holdings Ltd. Class A Ordinary Shares $95,602,116 0.65% 7,155,847 $-15,098,271 Down ×1
CGNX Cognex Corporation - Common Stock $94,520,774 0.64% 1,305,175 $36,378,854 Up ×1
ITT ITT Inc. Common Stock $83,627,364 0.57% 422,873 $-2,915,744 Down ×1
VRSK Verisk Analytics, Inc. - Common Stock $83,353,266 0.57% 464,286 $29,210,570 Up ×2
JNJ Johnson & Johnson Common Stock $81,899,484 0.56% 322,477 $-6,614,684 Down ×2
ELV Elevance Health, Inc. Common Stock $72,431,822 0.49% 187,293 $17,101,779 Down ×2
VZ Verizon Communications Inc. Common Stock $70,986,821 0.48% 1,676,590 $-66,099,138 Down ×6
ESQ Esquire Financial Holdings, Inc. - Common Stock $69,544,875 0.47% 583,871 $-8,415,630 Down ×2
HDB HDFC Bank Limited Common Stock $67,796,233 0.46% 2,624,709 $995,175 Down ×2
VMI Valmont Industries, Inc. Common Stock $65,914,557 0.45% 114,118 Up ×1
VEEV Veeva Systems Inc. Class A Common Stock $63,070,886 0.43% 355,389 $62,105,810 Up ×1
DHR Danaher Corporation Common Stock $60,874,170 0.41% 319,583 $-3,365,533 Down ×5
TW Tradeweb Markets Inc. - Class A Common Stock $57,745,496 0.39% 579,425 $-15,974,495 Down ×1
TSM Taiwan Semiconductor Manufacturing Company Ltd. $57,465,043 0.39% 120,328 $12,082,075 Down ×2
SKM SK Telecom Co., Ltd. Common Stock $54,933,975 0.37% 1,708,146 Up ×1
UNH UnitedHealth Group Incorporated Common Stock (DE) $54,012,781 0.37% 129,954 $14,358,899 Down ×1
TME Tencent Music Entertainment Group American Depositary Shares, each representing two Class A Ordinary Shares $51,793,756 0.35% 6,202,845 $-15,159,115 Down ×6
LITE Lumentum Holdings Inc. - Common Stock $49,492,901 0.34% 57,680 $43,250,284 Up ×1
HSY The Hershey Company Common Stock $48,842,648 0.33% 278,385 $-6,357,760 Up ×3
AVGO Broadcom Inc. - Common Stock $48,461,548 0.33% 128,290 Up ×1
BBSI Barrett Business Services, Inc. - Common Stock $43,710,024 0.30% 1,230,575 $-5,948,850 Down ×2
IPAR Interparfums, Inc. - Common Stock $43,188,027 0.29% 386,090 $14,950,050 Up ×2
OPLN OPENLANE, Inc. Common Stock $41,250,805 0.28% 1,000,262 $9,632,529 Down ×1
NKE Nike, Inc. Common Stock $38,998,978 0.27% 950,036 $-17,492,910 Down ×6
SNDK Sandisk Corporation - Common Stock $38,903,520 0.26% 17,110 $19,501,507 Down ×2
AME AMETEK, Inc. $35,593,487 0.24% 147,117 $-7,044,218 Down ×6
DORM Dorman Products, Inc. - Common Stock $35,190,046 0.24% 257,897 $8,558,418 Up ×2
BDX Becton, Dickinson and Company Common Stock $35,092,670 0.24% 231,895 $-20,758,728 Down ×2
FERG Ferguson Enterprises Inc. Common Stock $34,361,112 0.23% 144,782 $-122,396,839 Down ×6
NOW ServiceNow, Inc. Common Stock $33,491,512 0.23% 337,344 Up ×1
MDLN Medline Inc. - Class A common stock $33,151,923 0.23% 840,566 $16,807,251 Up ×2
FORM FormFactor, Inc. - Common Stock $32,437,642 0.22% 202,824 Up ×1
KLAC KLA Corporation - Common Stock $32,221,723 0.22% 106,797 $18,357,510 Up ×1
WCC WESCO International, Inc. Common Stock $25,774,605 0.18% 74,616 Up ×1
BRKB $25,444,832 0.17% 50,850 $-751,115 Down ×2
ADSK Autodesk, Inc. - Common Stock $25,322,816 0.17% 130,248 Up ×1
ATR AptarGroup, Inc. Common Stock $24,200,158 0.16% 193,292 $-58,629,385 Down ×2
VRT Vertiv Holdings, LLC Class A Common Stock $24,116,415 0.16% 72,028 $15,898,143 Up ×2
ATAT Atour Lifestyle Holdings Limited - American Depositary Shares $23,921,804 0.16% 752,258 $64,212 Up ×2
CASH Pathward Financial, Inc. - Common Stock $23,650,284 0.16% 271,655 $-311,808 Up ×1
BSX Boston Scientific Corporation Common Stock $22,643,148 0.15% 530,533 $-14,357,954 Down ×1
BIO Bio-Rad Laboratories, Inc. Class A Common Stock $21,015,723 0.14% 71,577 $-31,607,817 Down ×5
SN SharkNinja, Inc. Ordinary Shares $19,655,621 0.13% 129,084 $373,349 Down ×5
BWA BorgWarner Inc. Common Stock $19,640,921 0.13% 295,797 $-25,626,786 Down ×6
IBKR Interactive Brokers Group, Inc. - Class A Common Stock $19,432,724 0.13% 223,262 $-5,348,434 Down ×2
ZTS Zoetis Inc. Class A Common Stock $18,481,314 0.13% 257,185 $-70,564,269 Down ×1
RXO RXO, Inc. Common Stock $18,136,149 0.12% 657,345 Up ×1
LPLA LPL Financial Holdings Inc. - Common Stock $18,095,968 0.12% 64,243 $3,438,628 Up ×1
RYAN Ryan Specialty Holdings, Inc. Class A Common Stock $17,744,141 0.12% 469,919 $833,855 Down ×2
TER Teradyne, Inc. - Common Stock $17,416,788 0.12% 35,997 Up ×1
RMD ResMed Inc. Common Stock $17,415,841 0.12% 89,367 $-1,442,050 Up ×2
KKR KKR & Co. Inc. Common Stock $17,402,222 0.12% 189,608 $-2,100,386 Down ×1
KNSL Kinsale Capital Group, Inc. Common Stock $17,321,951 0.12% 52,521 $-3,120,250 Down ×1
SHW Sherwin-Williams Company (The) Common Stock $16,732,230 0.11% 48,595 $-16,462,325 Down ×6
SFM Sprouts Farmers Market, Inc. - Common Stock $15,679,440 0.11% 185,380 $6,073,207 Up ×2
XPEL XPEL, Inc. - Common Stock $15,385,920 0.10% 310,200
DFIN Donnelley Financial Solutions, Inc. Common Stock $14,563,194 0.10% 347,156 $-5,410,213 Down ×6

Conviction holdings

Positions increased for 3+ consecutive quarters.

Share counts are as reported in 13F filings (not split-adjusted)

Security Value % of portfolio Streak
NVDA $615,992,272 4.19% up ×4
SPGI $174,540,640 1.19% up ×4
ABBV $108,518,743 0.74% up ×4
NOVT $95,652,324 0.65% up ×4
HSY $48,842,648 0.33% up ×3

Biggest new bets

New positions opened this quarter, largest first.

Security Value Shares % of portfolio
VMI $65,914,557 114,118 0.45%
SKM $54,933,975 1,708,146 0.37%
AVGO $48,461,548 128,290 0.33%
NOW $33,491,512 337,344 0.23%
FORM $32,437,642 202,824 0.22%
WCC $25,774,605 74,616 0.18%
ADSK $25,322,816 130,248 0.17%
RXO $18,136,149 657,345 0.12%
TER $17,416,788 35,997 0.12%
XPEL $15,385,920 310,200 0.10%
GLBE $11,825,565 340,500 0.08%
CART $10,918,910 230,600 0.07%
TWST $10,210,943 99,251 0.07%
FND $9,521,344 160,400 0.06%
TBBB $8,857,792 212,570 0.06%

Top movers (QoQ)

Security Action Shares Δ Value Δ
NVDA Bought more +2.1M +$450.0M
MRSH Trimmed -1.6M -$291.0M
MSFT Trimmed -635K -$230.4M
AEP Bought more +949K +$137.5M
NOC Trimmed -16K -$126.5M
FERG Trimmed -527K -$122.4M
FCN Trimmed -574K -$121.9M
BKNG Bought more +684K -$106.7M
TSEM Bought more +73K +$101.2M
COR Bought more +458K +$97.4M

Exited positions

Includes corporate events (mergers, delistings) — not all exits are sells

Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.

SecurityQuarter Shares before Value before Price since exit
DE March 31, 2026 382,487 $178,074,473 10.7%
OSIS June 30, 2026 662,634 $175,935,953 -10.9%
ACN March 31, 2026 354,552 $95,126,302 -7.9%
CVS June 30, 2025 936,444 $63,444,081 35.7%
NTES June 30, 2026 521,873 $58,418,464 -0.3%
PAYX Dec. 31, 2025 338,331 $42,886,838 8.8%
STT Dec. 31, 2025 350,267 $40,634,475 44.3%
ICLR Sept. 30, 2025 265,985 $38,687,518 -1.3%
ARM Dec. 31, 2025 269,784 $38,171,738 129.4%
ENSG June 30, 2026 168,926 $34,038,589 12.4%
CARR March 31, 2025 497,405 $33,952,865 -3.9%
GIC March 31, 2025 1,139,880 $28,257,625 73.3%
MKC June 30, 2026 397,975 $20,073,859 9.7%
XPEL June 30, 2025 443,210 $13,021,510 42.1%
DHI Sept. 30, 2025 95,106 $12,261,066 -12.5%
MBC June 30, 2025 881,737 $11,515,485 -16.6%
FCNCA Dec. 31, 2025 6,433 $11,509,666 1.6%
FOUR March 31, 2026 169,872 $10,696,840 8.0%
LYFT March 31, 2026 508,078 $9,841,471 29.3%
WINA June 30, 2025 28,058 $8,918,796 -8.6%
WMG June 30, 2026 341,325 $8,717,441 -0.4%
CRL June 30, 2025 51,912 $7,813,794 91.2%
LGN June 30, 2026 134,185 $7,576,085 -29.2%
VITL March 31, 2026 216,077 $6,901,499 -24.3%
MAR Sept. 30, 2025 24,704 $6,749,380 37.1%
VRSN Dec. 31, 2025 22,776 $6,367,486 14.1%
EEFT March 31, 2026 75,374 $5,736,715 4.5%
ACWI Dec. 31, 2025 40,825 $5,643,648
YMM Dec. 31, 2025 431,100 $5,591,367 -18.8%
KSPI June 30, 2026 72,791 $5,391,629 20.5%
CBZ March 31, 2026 97,223 $4,904,900 104.5%
EWU March 31, 2026 107,855 $4,743,463 No longer tracked
MOAT March 31, 2026 36,020 $3,730,231 No longer tracked
PDD June 30, 2026 34,390 $3,513,970 16.3%
CHRD June 30, 2026 23,234 $3,303,410 30.7%
ORLY June 30, 2026 35,115 $3,241,466 -3.5%
ODFL March 31, 2026 19,484 $3,055,091 6.3%
MUSA June 30, 2026 6,044 $2,985,555 6.3%
MELI March 31, 2025 1,506 $2,560,863 -0.7%
BUR March 31, 2026 249,181 $2,222,695 -4.5%
XLV March 31, 2026 10,855 $1,680,354 No longer tracked
EOG June 30, 2026 11,151 $1,612,100 17.7%
IYK March 31, 2026 16,980 $1,136,302 No longer tracked
FDX June 30, 2025 3,089 $753,036 44.9%
XP June 30, 2025 33,413 $459,429 -18.5%
LULU Sept. 30, 2025 1,867 $443,562 -33.8%
SCCO March 31, 2025 3,384 $308,384 136.4%
VOE March 31, 2026 1,657 $293,902 No longer tracked
TNET Sept. 30, 2025 3,862 $282,467 2.8%
LLY March 31, 2026 235 $252,550 35.9%
ORCL Dec. 31, 2025 850 $239,054 -24.9%
MTCH March 31, 2025 6,838 $223,671 28.3%
PEP March 31, 2025 1,461 $222,160 -4.9%
RHI Sept. 30, 2025 5,322 $218,468 29.7%
POOL Dec. 31, 2025 451 $139,842 -16.5%
YUMC Dec. 31, 2025 1,673 $71,805 2.8%
SNA Sept. 30, 2025 139 $43,254 13.7%