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MONTRUSCO BOLTON INVESTMENTS INC.

1501 MCGILL COLLEGE AVENUE SUITE 1200, MONTREAL, A8 H3A 3M8 • 514-842-6464

Q1 2026 · Filed 2026-04-28
Market Value
$6.5B
-18.1%
Holdings
70
-5
New Purchases
4
Added To
16
Closed
6
Reduced
41
Top 10 Concentration
52.6%
Turnover
14.3%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
APH 1.81% 0.00% +1.81% $118M
AVGO 2.88% 1.24% +1.64% $188M
JPM 5.46% 3.94% +1.53% $356M
IDXX 2.87% 1.47% +1.39% $187M
APG 2.82% 1.45% +1.37% $184M
VLO 3.55% 2.25% +1.30% $231M
MA 3.63% 2.69% +0.94% $237M
SUNB 0.88% 0.00% +0.88% $57M
LRCX 2.18% 1.31% +0.87% $142M
NVDA 9.50% 9.09% +0.42% $619M
UBER 2.40% 2.07% +0.32% $156M
WMT 1.14% 0.84% +0.30% $74M
SU 0.48% 0.28% +0.21% $32M
SHW 1.73% 1.54% +0.19% $113M
FSV 0.56% 0.37% +0.19% $37M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
BLK 0.57% 3.27% -2.70% $37M
MSFT 6.90% 9.55% -2.64% $450M
ROL 0.00% 1.36% -1.36% $0
ADBE 0.00% 1.35% -1.35% $0
FTNT 0.00% 1.23% -1.23% $0
SNPS 1.67% 2.61% -0.94% $109M
RYAN 2.03% 2.74% -0.71% $132M
GOOGL 6.05% 6.70% -0.65% $394M
WCN 4.40% 5.00% -0.60% $287M
ZTS 2.94% 3.35% -0.42% $191M
AMZN 5.67% 6.01% -0.34% $370M
AAPL 2.41% 2.71% -0.30% $157M
DHR 3.78% 4.04% -0.26% $246M
AGI 0.06% 0.25% -0.19% $4M
ERO 0.00% 0.18% -0.18% $0

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Technology 33.4%
Financial Services 14.5%
Communication Services 9.7%
Healthcare 9.6%
Consumer Cyclical 9.3%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 14 $3.4B 52.7%
Large Cap 34 $2.7B 42.2%
Mid Cap 18 $323M 5.0%
Small Cap 4 $13M 0.2%

Portfolio Analytics

Avg Market Cap
$454.7B
Median Market Cap
$44.9B
Avg P/E
34.6
Median P/E
27.2
Avg Dividend Yield
0.01%
Avg Beta
1.14
# Stocks
70
# ETFs / Funds
0

Top Holdings (70 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 NVDA 9.50% 3,659,367 $619M $169.15 -$104M -331,625 -8.3%
2 MSFT 6.90% 1,249,443 $450M $359.85 -$310M -364,081 -22.6%
3 GOOGL 6.05% 1,404,505 $394M $280.76 -$139M -334,350 -19.2%
4 AMZN 5.67% 1,824,462 $370M $202.58 -$109M -300,496 -14.1%
5 JPM 5.46% 1,246,180 $356M $285.69 $43M +240,754 +23.9%
6 WCN 4.40% 1,822,200 $287M $157.24 -$111M -523,366 -22.3%
7 DHR 3.78% 1,341,168 $246M $183.55 -$75M -103,400 -7.2%
8 MA 3.63% 489,843 $237M $483.07 $22M +107,093 +28.0%
9 META 3.62% 422,400 $236M $557.68 -$59M -35,039 -7.7%
10 VLO 3.55% 936,233 $231M $247.08 $52M -164,679 -15.0%
11 MNST 3.22% 2,960,169 $210M $70.90 -$57M -578,989 -16.4%
12 ZTS 2.94% 1,666,335 $191M $114.86 -$75M -501,743 -23.1%
13 AVGO 2.88% 625,635 $188M $300.30 $89M +339,895 +119.0%
14 IDXX 2.87% 342,120 $187M $545.73 $70M +165,188 +93.4%
15 APG 2.82% 4,652,145 $184M $39.45 $68M +1,561,990 +50.5%
16 TSM 2.49% 510,242 $162M $318.13 -$38M -188,725 -27.0%
17 AAPL 2.41% 619,130 $157M $253.79 -$59M -174,280 -22.0%
18 UBER 2.40% 2,242,389 $156M $69.67 -$9M +155,770 +7.5%
19 CMG 2.27% 4,758,522 $148M $31.14 -$42M -530,748 -10.0%
20 LRCX 2.18% 685,358 $142M $207.53 $38M +58,539 +9.3%
21 PSA 2.08% 518,306 $136M $262.06 -$24M -117,420 -18.5%
22 RYAN 2.03% 4,022,506 $132M $32.84 -$86M -320,610 -7.4%
23 APH 1.81% 935,551 $118M $126.35 +935,551 NEW
24 SHW 1.73% 360,931 $113M $313.05 -$10M -26,748 -6.9%
25 SNPS 1.67% 281,301 $109M $386.67 -$99M -170,298 -37.7%
26 WMT 1.14% 596,410 $74M $124.28 $7M -2,425 -0.4%
27 TSCO 0.90% 1,290,454 $58M $45.30 -$6M +4,859 +0.4%
28 SUNB 0.88% 1,002,578 $57M $57.01 +1,002,578 NEW
29 RY 0.69% 278,201 $45M $161.14 -$4M -7,272 -2.5%
30 GIB 0.59% 523,255 $38M $72.87 -$10M +4,861 +0.9%
31 BLK 0.57% 38,933 $37M $961.71 -$223M -209,032 -84.3%
32 FSV 0.56% 263,488 $37M $138.67 $7M +72,665 +38.1%
33 TD 0.53% 367,619 $34M $93.10 -$1M -6,384 -1.7%
34 AEM 0.51% 162,760 $33M $202.34 $4M -8,364 -4.9%
35 SU 0.48% 478,392 $32M $65.93 $10M -16,089 -3.2%
36 BMO 0.42% 204,967 $28M $135.01 $568K -3,476 -1.7%
37 TFII 0.40% 238,165 $26M $108.50 -$5M -60,990 -20.4%
38 WPM 0.39% 195,962 $26M $130.84 $3M +1,574 +0.8%
39 CNI 0.31% 195,490 $20M $102.60 $449K -2,503 -1.3%
40 TGB 0.30% 3,031,296 $20M $6.46 $6M +576,637 +23.5%
41 DSGX 0.27% 246,235 $18M $71.40 $650K +53,495 +27.8%
42 DOOO 0.24% 221,693 $16M $71.66 -$3M -47,650 -17.7%
43 CIGI 0.24% 145,285 $15M $106.57 -$4M +16,108 +12.5%
44 CAE 0.23% 565,500 $15M $25.95 -$3M
45 GIL 0.21% 244,300 $14M $55.51 -$2M -1,600 -0.7%
46 SLF 0.19% 200,841 $13M $62.45 -$176K -2,628 -1.3%
47 EXK 0.18% 1,282,097 $12M $9.30 -$1M -120,295 -8.6%
48 CCJ 0.16% 93,959 $10M $108.40 $1M -2,208 -2.3%
49 PBA 0.15% 224,396 $10M $44.62 $1M -5,094 -2.2%
50 OR 0.15% 254,620 $10M $37.96 +254,620 NEW
51 CBZ 0.14% 340,021 $9M $26.85 -$6M +44,900 +15.2%
52 MDA 0.13% 333,096 $8M $25.25 +333,096 NEW
53 CNM 0.13% 167,215 $8M $49.40 -$658K -4,400 -2.6%
54 POOL 0.10% 32,295 $7M $202.33 -$853K
55 ORLA 0.09% 359,590 $6M $16.03 -$9M -711,947 -66.4%
56 OTEX 0.07% 214,625 $5M $22.21 -$2M -4,313 -2.0%
57 AGI 0.06% 88,079 $4M $44.35 -$16M -424,168 -82.8%
58 BN 0.05% 88,355 $4M $40.39 -$493K +4
59 SPSC 0.05% 63,300 $4M $55.67 -$2M
60 SHOP 0.05% 26,612 $3M $118.28 -$3M -11,500 -30.2%
61 EQX 0.03% 149,134 $2M $14.40 -$94K -10,140 -6.4%
62 PG 0.02% 9,067 $1M $144.44 -$13K -164 -1.8%
63 UFPT 0.01% 2,604 $504K $193.60 -$4M -17,725 -87.2%
64 LSPD —% 34,000 $303K $8.91 -$168K -5,000 -12.8%
65 ERO —% -$14M -509,963 -100.0% SOLD
66 EGO —% -$12M -341,707 -100.0% SOLD
67 ENB —% -$7M -139,459 -100.0% SOLD
68 FTNT —% -$98M -1,228,784 -100.0% SOLD
69 ADBE —% -$107M -318,040 -100.0% SOLD
70 ROL —% -$108M -1,857,978 -100.0% SOLD

New Positions

SymbolValue% Port
APH $118M 1.81%
SUNB $57M 0.88%
OR $10M 0.15%
MDA $8M 0.13%

Sold Out Positions

SymbolValue% Port
EGO —%
ROL —%
ENB —%
ERO —%
ADBE —%
FTNT —%
View SEC EDGAR Filings for MONTRUSCO BOLTON INVESTMENTS INC. →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms