MONTRUSCO BOLTON INVESTMENTS INC.
CIK 1475940 · View on SEC EDGAR ↗
- Portfolio value
- $6.5B
- Positions
- 80
- As of
- June 30, 2026
#671 of 9,443 by 13F value · top 7.1%
Portfolio value QoQ: -2.3% 13F does not disclose cash
- Top 10 holdings weight
- 49.40%
- Top 25 holdings weight
- 84.04%
- Positions above 1%
- 27
- Effective number of positions
- 27.9
Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)
Turnover Q2 2026: 9.66% Est. buys $630,903,289 · sells $1,649,743,179
Median holding: 5.0 quarters Tracked Q4 2024–Q2 2026 · 69.0% still held
- New positions
- 12
- Increased
- 13
- Decreased
- 51
- Closed
- 4
On this page
- Performance vs S&P How this manager's 13F portfolio performed against the S&P 500.
- Sector breakdown How the portfolio splits across market sectors.
- Portfolio Every stock this institution reports holding, from its latest 13F.
- High-conviction bets The holdings this manager is most concentrated in.
- Biggest new bets Brand-new positions opened in the latest quarter.
- Top moves The biggest position increases and decreases this quarter.
- Exited positions Positions the manager fully sold out of last quarter.
Performance vs S&P 500
Annualized: +24.1% · 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: 99.4% · Options excluded: 0.0%
Sector breakdown
Technology
33.1%
Industrials
12.8%
Communication Services
9.0%
Financials
8.9%
Healthcare
8.1%
Retail
6.9%
Financial Services
4.7%
Consumer Staples
3.1%
Energy
3.1%
Real Estate
2.9%
Materials
2.9%
Consumer Discretionary
2.2%
Consumer products
0.6%
Other/Unmapped
1.6%
Full portfolio 80 positions
| Type | Streak | 8Q trend | |||||
|---|---|---|---|---|---|---|---|
| NVDA NVIDIA Corporation - Common Stock | $527,847,224 | 8.18% | 2,638,049 | $-91,139,475 | Down ×5 | ||
| GOOGL Alphabet Inc. - Class A Common Stock | $390,824,835 | 6.05% | 1,093,614 | $-3,501,545 | Down ×4 | ||
| MSFT Microsoft Corporation - Common Stock | $381,014,192 | 5.90% | 1,021,431 | $-68,596,563 | Down ×6 | ||
| AMZN Amazon.com, Inc. - Common Stock | $375,658,161 | 5.82% | 1,576,144 | $6,049,879 | Down ×4 | ||
| JPM JP Morgan Chase & Co. Common Stock | $302,661,757 | 4.69% | 924,638 | $-53,356,285 | Down ×1 | ||
| LRCX Lam Research Corporation - Common Stock | $290,973,295 | 4.51% | 671,482 | $148,744,021 | Down ×1 | ||
| AVGO Broadcom Inc. - Common Stock | $240,780,495 | 3.73% | 637,407 | $52,903,592 | Up ×2 | ||
| MA Mastercard Incorporated Common Stock | $240,547,641 | 3.73% | 468,356 | $3,917,592 | Down ×1 | ||
| MU Micron Technology, Inc. - Common Stock | $235,546,726 | 3.65% | 204,062 | Up ×1 | |||
| MNST Monster Beverage Corporation - Common Stock | $203,177,591 | 3.15% | 2,113,791 | $-6,708,570 | Down ×2 | ||
| DHR Danaher Corporation Common Stock | $202,781,580 | 3.14% | 1,064,582 | $-43,395,688 | Down ×4 | ||
| IDXX IDEXX Laboratories, Inc. - Common Stock | $196,250,515 | 3.04% | 372,788 | $9,543,799 | Up ×2 | ||
| META Meta Platforms, Inc. - Class A Common Stock | $188,482,467 | 2.92% | 334,610 | $-47,082,730 | Down ×4 | ||
| TSM Taiwan Semiconductor Manufacturing Company Ltd. | $173,309,676 | 2.68% | 362,899 | $10,986,630 | Down ×4 | ||
| APG APi Group Corporation Common Stock | $171,590,597 | 2.66% | 4,051,726 | $-11,946,769 | Down ×1 | ||
| VLO Valero Energy Corporation Common Stock | $166,012,269 | 2.57% | 637,430 | $-65,312,180 | Down ×6 | ||
| WCN Waste Connections, Inc. Common Shares | $162,494,412 | 2.52% | 974,830 | $-124,023,522 | Down ×2 | ||
| APH Amphenol Corporation Common Stock | $156,751,302 | 2.43% | 889,016 | $38,544,434 | Down ×1 | ||
| PSA Public Storage Common Stock | $139,684,614 | 2.16% | 438,832 | $3,855,050 | Down ×4 | ||
| AAPL Apple Inc. - Common Stock | $131,905,045 | 2.04% | 455,851 | $-25,223,957 | Down ×3 | ||
| LIN Linde plc - Ordinary Shares | $125,893,287 | 1.95% | 242,597 | Up ×1 | |||
| UBER Uber Technologies, Inc. Common Stock | $123,541,673 | 1.91% | 1,712,052 | $-32,696,110 | Down ×1 | ||
| CMG Chipotle Mexican Grill, Inc. Common Stock | $105,242,036 | 1.63% | 3,095,354 | $-42,917,814 | Down ×3 | ||
| RYAN Ryan Specialty Holdings, Inc. Class A Common Stock | $101,537,811 | 1.57% | 2,689,031 | $-30,553,026 | Down ×2 | ||
| SNPS Synopsys, Inc. - Common Stock | $90,449,168 | 1.40% | 202,769 | $-18,322,027 | Down ×3 | ||
| GEV GE Vernova Inc. Common Stock | $88,734,826 | 1.37% | 75,528 | Up ×1 | |||
| ZTS Zoetis Inc. Class A Common Stock | $79,863,983 | 1.24% | 1,111,383 | $-111,527,782 | Down ×2 | ||
| RY Royal Bank Of Canada Common Stock | $52,367,258 | 0.81% | 252,983 | $7,537,735 | Down ×4 | ||
| Unknown issuer (CUSIP: 866966104) | $48,341,016 | 0.75% | 662,699 | $-8,816,705 | Down ×1 | ||
| BLK BlackRock, Inc. Common Stock | $41,657,663 | 0.65% | 43,323 | $4,215,408 | Up ×1 | ||
| AZN AstraZeneca PLC - American Depositary Shares | $40,808,800 | 0.63% | 218,063 | Up ×1 | |||
| TD Toronto Dominion Bank (The) Common Stock | $38,619,389 | 0.60% | 317,741 | $4,395,563 | Down ×5 | ||
| TSCO Tractor Supply Company - Common Stock | $37,302,866 | 0.58% | 1,180,097 | $-21,154,700 | Down ×1 | ||
| FSV FirstService Corporation - Common Shares | $36,152,484 | 0.56% | 254,333 | $-385,224 | Down ×1 | ||
| CHD Church & Dwight Company, Inc. Common Stock | $34,332,335 | 0.53% | 354,380 | Up ×1 | |||
| WMT Walmart Inc. - Common Stock | $33,162,301 | 0.51% | 292,798 | $-40,959,533 | Down ×2 | ||
| GIB CGI Inc. Common Stock | $32,337,235 | 0.50% | 500,474 | $-5,794,708 | Down ×1 | ||
| TFII TFI International Inc. Common Shares | $30,398,241 | 0.47% | 211,254 | $4,556,856 | Down ×2 | ||
| BMO Bank Of Montreal Common Stock | $30,371,575 | 0.47% | 171,898 | $2,697,982 | Down ×3 | ||
| BNS Bank Nova Scotia Halifax Pfd 3 Ordinary Shares | $26,550,642 | 0.41% | 305,579 | Up ×1 | |||
| BGSI Boyd Group Services Inc. Common Shares | $23,202,662 | 0.36% | 245,132 | $-12,454,936 | Down ×1 | ||
| AEM Agnico Eagle Mines Limited Common Stock | $22,767,556 | 0.35% | 146,585 | $-10,164,651 | Down ×3 | ||
| CNI Canadian National Railway Company Common Stock | $22,032,622 | 0.34% | 184,690 | $1,975,828 | Down ×4 | ||
| Unknown issuer (CUSIP: 89472Y107) | $18,888,825 | 0.29% | 2,740,135 | Up ×1 | |||
| BAM Brookfield Asset Management Inc Class A Limited Voting Shares | $17,697,189 | 0.27% | 394,654 | $2,390,095 | Up ×2 | ||
| DSGX The Descartes Systems Group Inc. - Common Stock | $17,438,724 | 0.27% | 251,870 | $-142,054 | Up ×6 | ||
| WPM Wheaton Precious Metals Corp Common Shares (Canada) | $17,025,434 | 0.26% | 151,403 | $-8,615,110 | Down ×1 | ||
| DOO BRP Inc. - Common Subordinate Voting Shares | $16,318,375 | 0.25% | 267,248 | $432,667 | Up ×1 | ||
| AYASF | $15,923,479 | 0.25% | 841,081 | Up ×1 | |||
| SLF Sun Life Financial Inc. Common Stock | $15,765,355 | 0.24% | 200,872 | $3,223,136 | Up ×1 | ||
| SU Suncor Energy Inc. Common Stock | $15,648,290 | 0.24% | 290,970 | $-15,892,571 | Down ×4 | ||
| RBA RB Global, Inc. Common Stock | $14,843,665 | 0.23% | 127,548 | $-40,744 | Down ×4 | ||
| CIGI Colliers International Group Inc. - Subordinate Voting Shares | $12,391,277 | 0.19% | 132,092 | $-3,092,395 | Down ×1 | ||
| CAE CAE Inc. Ordinary Shares | $12,126,587 | 0.19% | 484,500 | $-2,550,358 | Down ×1 | ||
| GIL Gildan Activewear, Inc. Class A Sub. Vot. Common Stock | $11,663,123 | 0.18% | 226,300 | $-1,898,499 | Down ×2 | ||
| CBZ CBIZ, Inc. Common Stock | $10,978,450 | 0.17% | 342,221 | $1,848,886 | Up ×4 | ||
| PBA Pembina Pipeline Corp. Ordinary Shares (Canada) | $10,366,087 | 0.16% | 224,122 | $353,448 | Down ×5 | ||
| EXK Endeavour Silver Corporation Ordinary Shares (Canada) | $9,613,902 | 0.15% | 1,158,855 | $-2,310,873 | Down ×2 | ||
| CCJ Cameco Corporation Common Stock | $9,207,721 | 0.14% | 90,367 | $-977,595 | Down ×2 | ||
| Unknown issuer (CUSIP: 55293N109) | $8,363,929 | 0.13% | 202,497 | $-47,309 | Down ×1 | ||
| CNM Core & Main, Inc. Class A Common Stock | $8,116,374 | 0.13% | 168,215 | $-144,047 | Up ×1 | ||
| BNT Brookfield Wealth Solutions Ltd. Class A Exchangeable Limited Voting Shares | $7,634,078 | 0.12% | 179,200 | $-5,086,937 | Down ×1 | ||
| OR OR Royalties Inc. Common Shares | $7,493,093 | 0.12% | 236,714 | $-2,171,356 | Down ×1 | ||
| OTEX Open Text Corporation - Common Shares | $7,045,940 | 0.11% | 318,459 | $2,278,375 | Up ×1 | ||
| POOL Pool Corporation - Common Stock | $6,940,195 | 0.11% | 32,295 | $405,948 | |||
| ITRG | $6,262,020 | 0.10% | 2,820,394 | $-932,719 | Up ×1 | ||
| CGAU Centerra Gold Inc. Common Shares | $6,048,435 | 0.09% | 381,557 | Up ×1 | |||
| ORLA | $4,575,531 | 0.07% | 468,027 | $-1,188,525 | Up ×1 | ||
| BN Brookfield Corporation Class A Limited Voting Shares | $3,763,541 | 0.06% | 88,242 | $194,646 | Down ×1 | ||
| SPSC SPS Commerce, Inc. - Common Stock | $3,618,861 | 0.06% | 63,300 | $94,950 | |||
| ATS ATS Corporation Common Shares | $2,854,209 | 0.04% | 99,056 | $-1,949,048 | Down ×4 | ||
| SHOP Shopify Inc. - Class A Subordinate Voting Shares | $2,726,883 | 0.04% | 23,843 | $-420,677 | Down ×4 | ||
| USAS | $2,350,167 | 0.04% | 496,915 | $-511,050 | Down ×1 | ||
| SE Sea Limited American Depositary Shares, each representing one Class A Ordinary Share | $1,996,522 | 0.03% | 20,834 | Up ×1 | |||
| AER AerCap Holdings N.V. Ordinary Shares | $1,515,383 | 0.02% | 10,395 | Up ×1 | |||
| EQX | $1,439,481 | 0.02% | 147,776 | $-707,416 | Down ×2 | ||
| PG Procter & Gamble Company (The) Common Stock | $1,329,585 | 0.02% | 9,067 | $19,948 | |||
| EFXT Enerflex Ltd Common Shares | $654,252 | 0.01% | 26,650 | Up ×1 | |||
| LSPD Lightspeed Commerce Inc. Subordinate Voting Shares | $355,877 | 0.01% | 34,000 | $52,799 | |||
| CP Canadian Pacific Kansas City Limited Common Shares | $263,990 | 0.00% | 3,046 | $28,428 | Up ×2 | ||
| No matches | |||||||
Conviction holdings
Positions increased for 3+ consecutive quarters.
Share counts are as reported in 13F filings (not split-adjusted)
Biggest new bets
New positions opened this quarter, largest first.
| Security | Value | Shares | % of portfolio |
|---|---|---|---|
| MU | $235,546,726 | 204,062 | 3.65% |
| LIN | $125,893,287 | 242,597 | 1.95% |
| GEV | $88,734,826 | 75,528 | 1.37% |
| AZN | $40,808,800 | 218,063 | 0.63% |
| CHD | $34,332,335 | 354,380 | 0.53% |
| BNS | $26,550,642 | 305,579 | 0.41% |
| Unknown issuer (CUSIP: 89472Y107) | $18,888,825 | 2,740,135 | 0.29% |
| AYASF | $15,923,479 | 841,081 | 0.25% |
| CGAU | $6,048,435 | 381,557 | 0.09% |
| SE | $1,996,522 | 20,834 | 0.03% |
| AER | $1,515,383 | 10,395 | 0.02% |
| EFXT | $654,252 | 26,650 | 0.01% |
Top movers (QoQ)
| Security | Action | Shares Δ | Value Δ |
|---|---|---|---|
| LRCX | Trimmed | -14K | +$148.7M |
| WCN | Trimmed | -847K | -$124.0M |
| ZTS | Trimmed | -555K | -$111.5M |
| NVDA | Trimmed | -1.0M | -$91.1M |
| MSFT | Trimmed | -228K | -$68.6M |
| VLO | Trimmed | -299K | -$65.3M |
| JPM | Trimmed | -322K | -$53.4M |
| AVGO | Bought more | +12K | +$52.9M |
| META | Trimmed | -88K | -$47.1M |
| DHR | Trimmed | -277K | -$43.4M |
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.
| Security | Quarter | Shares before | Value before | Price since exit |
|---|---|---|---|---|
| WDAY | March 31, 2025 | 1,053,221 | $263,501,227 | -16.3% |
| AMGN | June 30, 2025 | 689,602 | $210,723,756 | 56.2% |
| MRSH | June 30, 2025 | 823,645 | $194,811,850 | -12.6% |
| TXN | June 30, 2025 | 924,039 | $162,309,617 | 27.7% |
| SHW | June 30, 2026 | 360,931 | $112,987,975 | 1.1% |
| ROL | March 31, 2026 | 1,857,978 | $108,451,607 | -31.6% |
| ADBE | March 31, 2026 | 318,040 | $107,207,393 | 12.3% |
| CFR | June 30, 2025 | 835,314 | $104,581,313 | 28.8% |
| MTD | March 31, 2025 | 84,499 | $103,399,737 | 17.9% |
| FTNT | March 31, 2026 | 1,228,784 | $97,577,737 | 82.9% |
| LULU | March 31, 2025 | 245,583 | $93,913,395 | -58.4% |
| LLY | Dec. 31, 2025 | 70,389 | $53,706,807 | 16.3% |
| SYY | Dec. 31, 2025 | 489,982 | $40,345,118 | 14.1% |
| GRMN | June 30, 2025 | 179,400 | $38,953,122 | 40.8% |
| CNQ | March 31, 2025 | 894,468 | $27,601,509 | 66.3% |
| TGB | June 30, 2026 | 3,031,296 | $19,570,762 | No longer tracked |
| ERO | March 31, 2026 | 509,963 | $14,446,006 | 44.2% |
| OR | Dec. 31, 2025 | 332,958 | $13,347,993 | 1.2% |
| GRTUF | March 31, 2026 | 210,254 | $12,533,178 | No longer tracked |
| EGO | March 31, 2026 | 341,707 | $12,297,214 | 30.2% |
| USAS | Dec. 31, 2025 | 2,668,549 | $9,953,837 | No longer tracked |
| ORXXXX | June 30, 2025 | 471,211 | $9,943,150 | No longer tracked |
| NGD | Dec. 31, 2025 | 1,331,689 | $9,542,144 | No longer tracked |
| FNV | Sept. 30, 2025 | 54,849 | $8,986,875 | 18.3% |
| TFPM | June 30, 2025 | 458,770 | $8,775,361 | 41.6% |
| NFLX | Dec. 31, 2025 | 6,873 | $8,240,177 | -15.1% |
| TU | Dec. 31, 2025 | 475,273 | $7,487,411 | -23.8% |
| BKNG | March 31, 2025 | 1,382 | $6,866,356 | -95.5% |
| ENB | March 31, 2026 | 139,459 | $6,682,230 | -5.4% |
| BIP | Dec. 31, 2025 | 138,330 | $4,559,303 | 13.0% |
| ENPH | March 31, 2025 | 63,430 | $4,356,372 | -37.0% |
| AGI | June 30, 2026 | 88,079 | $3,906,137 | 24.4% |
| TRI | March 31, 2026 | 29,041 | $3,837,459 | 17.2% |
| NOW | Dec. 31, 2025 | 2,773 | $2,551,936 | -15.4% |
| SAND | Dec. 31, 2025 | 116,599 | $1,459,792 | No longer tracked |
| BBU | June 30, 2025 | 30,783 | $720,783 | No longer tracked |
| UFPT | June 30, 2026 | 2,604 | $504,134 | 15.1% |
| WINA | Sept. 30, 2025 | 608 | $229,587 | -30.6% |