— Know what they know.
Not Investment Advice
Private Equity ← All Institutions

MONTRUSCO BOLTON INVESTMENTS INC.

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

Q2 2025 · Filed 2025-07-25
Market Value
$8.9B
+18.4%
Holdings
75
+13
New Purchases
19
Added To
25
Closed
7
Reduced
24
Top 10 Concentration
55.8%
Turnover
34.7%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
JPM 5.44% 0.00% +5.44% $486M
RYAN 2.39% 0.00% +2.39% $214M
META 5.51% 3.78% +1.73% $492M
FTNT 1.21% 0.00% +1.21% $108M
LRCX 2.73% 1.62% +1.11% $244M
IDXX 2.51% 1.59% +0.92% $224M
TSM 2.07% 1.16% +0.91% $185M
AMZN 6.42% 5.60% +0.82% $574M
NVDA 8.23% 7.43% +0.81% $736M
WCN 4.69% 3.92% +0.77% $419M
SNPS 2.34% 1.65% +0.69% $209M
TSCO 0.55% 0.00% +0.55% $49M
LLY 0.52% 0.00% +0.52% $47M
GIB 0.42% 0.09% +0.33% $37M
AEM 0.23% 0.00% +0.23% $20M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
AMGN 0.00% 2.79% -2.79% $0
MA 2.30% 4.91% -2.61% $205M
MMC 0.00% 2.58% -2.58% $0
TXN 0.00% 2.15% -2.15% $0
MNST 2.42% 4.02% -1.61% $216M
CFR 0.00% 1.39% -1.39% $0
ROL 3.13% 4.39% -1.26% $280M
BLK 4.07% 4.93% -0.86% $364M
AAPL 2.06% 2.77% -0.71% $184M
DHR 3.87% 4.54% -0.67% $346M
MSFT 9.37% 9.97% -0.61% $837M
GRMN 0.00% 0.52% -0.52% $0
VLO 2.50% 3.00% -0.50% $224M
ZTS 0.86% 1.23% -0.37% $77M
SHW 1.67% 2.01% -0.34% $149M

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 16 $4.6B 51.0%
Large Cap 38 $4.0B 44.5%
Mid Cap 17 $378M 4.2%
Small Cap 4 $27M 0.3%

Portfolio Analytics

Avg Market Cap
$423.0B
Median Market Cap
$46.4B
Avg P/E
31.0
Median P/E
28.0
Avg Dividend Yield
0.01%
Avg Beta
1.05
# Stocks
75
# ETFs / Funds
0

Top Holdings (75 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 MSFT 9.37% 1,723,378 $837M $485.75 $84M -342,743 -16.6%
2 NVDA 8.23% 4,760,297 $736M $154.57 $175M -535,822 -10.1%
3 AMZN 6.42% 2,674,663 $574M $214.45 $151M +388,384 +17.0%
4 META 5.51% 687,611 $492M $715.84 $207M +178,731 +35.1%
5 JPM 5.44% 1,715,064 $486M $283.26 +1,715,064 NEW
6 GOOGL 5.04% 2,609,606 $451M $172.64 $71M +77,649 +3.1%
7 WCN 4.69% 2,306,702 $419M $181.84 $123M +732,718 +46.5%
8 BLK 4.07% 353,587 $364M $1,028.40 -$8M -46,109 -11.5%
9 DHR 3.87% 1,789,225 $346M $193.27 $3M +72,680 +4.2%
10 ROL 3.13% 5,113,393 $280M $54.74 -$51M -1,249,366 -19.6%
11 CMG 3.13% 5,116,087 $279M $54.60 $44M +267,097 +5.5%
12 UBER 2.96% 2,906,773 $264M $90.97 $32M -357,045 -10.9%
13 LRCX 2.73% 2,561,424 $244M $95.35 $122M +835,196 +48.4%
14 IDXX 2.51% 429,409 $224M $522.00 $104M +143,641 +50.3%
15 VLO 2.50% 1,664,007 $224M $134.42 -$3M -52,783 -3.1%
16 PSA 2.46% 769,793 $220M $286.12 $13M +54,763 +7.7%
17 MNST 2.42% 3,502,060 $216M $61.69 -$88M -1,864,066 -34.7%
18 RYAN 2.39% 3,212,231 $214M $66.57 +3,212,231 NEW
19 SNPS 2.34% 416,518 $209M $502.60 $85M +118,961 +40.0%
20 MA 2.30% 374,846 $205M $548.09 -$165M -319,480 -46.0%
21 TSM 2.07% 863,127 $185M $213.87 $97M +309,140 +55.8%
22 AAPL 2.06% 898,066 $184M $205.17 -$25M -43,738 -4.6%
23 ADBE 1.79% 421,023 $160M $380.80 $36M +89,993 +27.2%
24 SHW 1.67% 442,931 $149M $337.22 -$3M -1,606 -0.4%
25 FTNT 1.21% 1,022,096 $108M $105.72 +1,022,096 NEW
26 ZTS 0.86% 492,852 $77M $155.95 -$16M -102,497 -17.2%
27 SYY 0.71% 832,875 $63M $75.74 $7M +89,602 +12.1%
28 RY 0.62% 424,433 $56M $131.53 $18M +88,076 +26.2%
29 TSCO 0.55% 931,032 $49M $52.77 +931,032 NEW
30 LLY 0.52% 59,768 $47M $779.53 +59,768 NEW
31 WMT 0.52% 473,970 $46M $97.78 $7M +31,485 +7.1%
32 TD 0.44% 533,649 $39M $73.40 $5M -42,613 -7.4%
33 GIB 0.42% 356,625 $37M $104.81 $31M +287,825 +418.4%
34 CNI 0.31% 265,997 $28M $103.99 $7M +48,646 +22.4%
35 SLF 0.27% 368,367 $24M $66.41 $4M +16,217 +4.6%
36 SU 0.26% 617,173 $23M $37.38 -$327K +12,766 +2.1%
37 ENB 0.25% 493,388 $22M $45.25 -$12M -274,533 -35.8%
38 BMO 0.24% 193,890 $21M $110.60 -$2M -48,423 -20.0%
39 AEM 0.23% 172,101 $20M $118.90 +172,101 NEW
40 TFII 0.23% 226,034 $20M $89.59 $17M +182,202 +415.7%
41 CIGI 0.20% 138,468 $18M $130.58 $6M +40,184 +40.9%
42 BIP 0.20% 530,720 $18M $33.43 $179K -59,789 -10.1%
43 FSV 0.20% 101,296 $18M $174.15 $2M +7,781 +8.3%
44 CBZ 0.19% 233,390 $17M $71.71 +233,390 NEW
45 CAE 0.18% 560,500 $16M $29.25 +560,500 NEW
46 NGD 0.18% 3,202,022 $16M $4.96 -$359K -1,193,201 -27.1%
47 TU 0.16% 885,468 $14M $16.03 -$3M -284,295 -24.3%
48 ERO 0.14% 767,142 $13M $16.86 $3M -14,790 -1.9%
49 SAND 0.14% 1,296,000 $12M $9.39 +1,296,000 NEW
50 PBA 0.14% 323,405 $12M $37.47 -$4M -82,187 -20.3%
51 DSGX 0.13% 117,600 $12M $101.38 $8M +75,061 +176.4%
52 GIL 0.13% 240,000 $12M $49.18 +240,000 NEW
53 DOOO 0.12% 229,950 $11M $48.44 +229,950 NEW
54 POOL 0.12% 37,245 $11M $291.48 +37,245 NEW
55 AGI 0.12% 401,724 $11M $26.54 +401,724 NEW
56 OR 0.12% 402,231 $10M $25.65 +402,231 NEW
57 WPM 0.11% 112,929 $10M $89.75 -$12M -172,923 -60.5%
58 CNM 0.11% 163,195 $10M $60.35 +163,195 NEW
59 NFLX 0.11% 7,186 $10M $1,339.13 $3M +492 +7.3%
60 UFPT 0.11% 38,859 $9M $244.16 +38,859 NEW
61 FNV 0.10% 54,849 $9M $163.85 -$15M -95,738 -63.6%
62 APG 0.08% 140,895 $7M $51.05 +140,895 NEW
63 SHOP 0.06% 45,388 $5M $115.10 $2M +7,102 +18.6%
64 EGO 0.06% 253,000 $5M $20.32 -$2M -185,809 -42.3%
65 BN 0.04% 56,295 $3M $61.77 -$302K -15,924 -22.1%
66 PG 0.03% 14,738 $2M $159.32 -$264K -592 -3.9%
67 LSPD 0.01% 39,000 $457K $11.71 +39,000 NEW
68 WINA —% 608 $230K $377.61 +608 NEW
69 MMC —% -$195M -823,645 -100.0% SOLD
70 GRMN —% -$39M -179,400 -100.0% SOLD
71 CFR —% -$105M -835,314 -100.0% SOLD
72 AMGN —% -$211M -689,602 -100.0% SOLD
73 TXN —% -$162M -924,039 -100.0% SOLD
74 TFPM.TO —% -$9M -458,770 -100.0% SOLD
75 BBU —% -$721K -30,783 -100.0% SOLD

New Positions

SymbolValue% Port
JPM $486M 5.44%
RYAN $214M 2.39%
FTNT $108M 1.21%
TSCO $49M 0.55%
LLY $47M 0.52%
AEM $20M 0.23%
CBZ $17M 0.19%
CAE $16M 0.18%
SAND $12M 0.14%
GIL $12M 0.13%
DOOO $11M 0.12%
POOL $11M 0.12%
AGI $11M 0.12%
OR $10M 0.12%
CNM $10M 0.11%

Sold Out Positions

SymbolValue% Port
GRMN —%
CFR —%
AMGN —%
TFPM.TO —%
TXN —%
BBU —%
MMC —%
View SEC EDGAR Filings for MONTRUSCO BOLTON INVESTMENTS INC. →

Sign in to InsiderStreet

You'll also get our free weekly newsletter with
smart money signals, market insights, and alpha ideas.
Unsubscribe anytime.

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