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Private Equity ← All Institutions

MONTRUSCO BOLTON INVESTMENTS INC.

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

Q3 2025 · Filed 2025-11-12
Market Value
$8.5B
-4.8%
Holdings
72
-3
New Purchases
4
Added To
23
Closed
2
Reduced
41
Top 10 Concentration
55.9%
Turnover
8.3%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
MSFT 10.22% 9.37% +0.85% $869M
NVDA 9.00% 8.23% +0.76% $765M
AAPL 2.79% 2.06% +0.73% $238M
SNPS 3.04% 2.34% +0.70% $259M
APG 0.59% 0.08% +0.51% $50M
GOOGL 5.55% 5.04% +0.51% $472M
BLK 4.46% 4.07% +0.39% $379M
MNST 2.66% 2.42% +0.24% $226M
WPM 0.31% 0.11% +0.19% $26M
ZTS 1.05% 0.86% +0.19% $89M
RYAN 2.56% 2.39% +0.17% $218M
WMT 0.68% 0.52% +0.16% $58M
AEM 0.38% 0.23% +0.15% $33M
TGB 0.14% 0.00% +0.14% $12M
TSCO 0.67% 0.55% +0.12% $57M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
LRCX 1.50% 2.73% -1.23% $128M
META 4.58% 5.51% -0.92% $390M
IDXX 1.71% 2.51% -0.80% $146M
ROL 2.42% 3.13% -0.71% $206M
JPM 4.92% 5.44% -0.51% $419M
AMZN 5.96% 6.42% -0.46% $507M
ADBE 1.46% 1.79% -0.34% $124M
MA 2.03% 2.30% -0.27% $172M
CMG 2.89% 3.13% -0.24% $246M
SYY 0.47% 0.71% -0.23% $40M
DHR 3.65% 3.87% -0.22% $311M
WCN 4.52% 4.69% -0.18% $384M
BIP 0.05% 0.20% -0.14% $5M
UBER 2.83% 2.96% -0.12% $241M
SAND 0.02% 0.14% -0.12% $1M

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 15 $4.3B 50.8%
Large Cap 36 $3.8B 44.1%
Mid Cap 16 $410M 4.8%
Small Cap 5 $27M 0.3%

Portfolio Analytics

Avg Market Cap
$433.6B
Median Market Cap
$43.9B
Avg P/E
34.3
Median P/E
28.7
Avg Dividend Yield
0.01%
Avg Beta
1.09
# Stocks
72
# ETFs / Funds
0

Top Holdings (72 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 MSFT 10.22% 1,718,266 $869M $505.81 $32M -5,112 -0.3%
2 NVDA 9.00% 4,200,029 $765M $182.17 $29M -560,268 -11.8%
3 AMZN 5.96% 2,368,481 $507M $214.01 -$67M -306,182 -11.4%
4 GOOGL 5.55% 1,980,590 $472M $238.18 $21M -629,016 -24.1%
5 JPM 4.92% 1,369,524 $419M $305.77 -$67M -345,540 -20.1%
6 META 4.58% 543,939 $390M $716.95 -$102M -143,672 -20.9%
7 WCN 4.52% 2,252,933 $384M $170.55 -$35M -53,769 -2.3%
8 BLK 4.46% 333,392 $379M $1,137.49 $16M -20,195 -5.7%
9 DHR 3.65% 1,611,531 $311M $192.74 -$35M -177,694 -9.9%
10 SNPS 3.04% 537,155 $259M $481.35 $49M +120,637 +29.0%
11 CMG 2.89% 6,453,065 $246M $38.07 -$34M +1,336,978 +26.1%
12 UBER 2.83% 2,524,962 $241M $95.47 -$23M -381,811 -13.1%
13 AAPL 2.79% 933,027 $238M $254.63 $53M +34,961 +3.9%
14 MNST 2.66% 3,411,736 $226M $66.30 $10M -90,324 -2.6%
15 RYAN 2.56% 3,974,869 $218M $54.78 $4M +762,638 +23.7%
16 VLO 2.51% 1,255,650 $214M $170.26 -$10M -408,357 -24.5%
17 ROL 2.42% 3,641,068 $206M $56.46 -$74M -1,472,325 -28.8%
18 PSA 2.35% 711,333 $200M $280.76 -$21M -58,460 -7.6%
19 TSM 2.18% 708,231 $186M $262.34 $1M -154,896 -17.9%
20 MA 2.03% 308,640 $172M $558.63 -$33M -66,206 -17.7%
21 IDXX 1.71% 232,282 $146M $626.63 -$79M -197,127 -45.9%
22 SHW 1.68% 419,798 $143M $339.67 -$7M -23,133 -5.2%
23 LRCX 1.50% 975,201 $128M $130.95 -$117M -1,586,223 -61.9%
24 ADBE 1.46% 362,784 $124M $341.22 -$37M -58,239 -13.8%
25 FTNT 1.22% 1,236,892 $104M $84.08 -$4M +214,796 +21.0%
26 ZTS 1.05% 607,764 $89M $146.32 $12M +114,912 +23.3%
27 WMT 0.68% 562,384 $58M $103.06 $12M +88,414 +18.6%
28 TSCO 0.67% 1,000,530 $57M $56.87 $8M +69,498 +7.5%
29 LLY 0.63% 70,389 $54M $763.00 $7M +10,621 +17.8%
30 RY 0.60% 346,418 $51M $147.42 -$5M -78,015 -18.4%
31 APG 0.59% 1,465,700 $50M $34.37 $43M +1,324,805 +940.3%
32 GIB 0.49% 467,777 $42M $89.09 $4M +111,152 +31.2%
33 SYY 0.47% 489,982 $40M $82.34 -$23M -342,893 -41.2%
34 TD 0.46% 486,409 $39M $79.98 -$271K -47,240 -8.8%
35 AEM 0.38% 193,818 $33M $168.46 $12M +21,717 +12.6%
36 BMO 0.35% 227,141 $30M $130.34 $8M +33,251 +17.1%
37 WPM 0.31% 233,795 $26M $111.93 $16M +120,866 +107.0%
38 ENB 0.29% 487,427 $25M $50.46 $2M -5,961 -1.2%
39 SU 0.29% 581,429 $24M $41.86 $1M -35,744 -5.8%
40 TFII 0.28% 266,807 $23M $88.03 $3M +40,773 +18.0%
41 CIGI 0.25% 135,777 $21M $156.43 $3M -2,691 -1.9%
42 DOOO 0.23% 318,118 $19M $60.82 $8M +88,168 +38.3%
43 FSV 0.23% 100,748 $19M $190.57 $2M -548 -0.5%
44 AGI 0.22% 547,567 $19M $34.86 $8M +145,843 +36.3%
45 CNI 0.22% 200,189 $19M $94.32 -$9M -65,808 -24.7%
46 SLF 0.21% 302,549 $18M $60.06 -$6M -65,818 -17.9%
47 CAE 0.20% 565,500 $17M $29.62 $355K +5,000 +0.9%
48 ERO 0.18% 765,896 $16M $20.26 $3M -1,246 -0.2%
49 CBZ 0.17% 276,821 $15M $52.96 -$2M +43,431 +18.6%
50 GIL 0.16% 242,000 $14M $57.78 $2M +2,000 +0.8%
51 OR 0.16% 332,958 $13M $40.09 $3M -69,273 -17.2%
52 TGB 0.14% 2,891,250 $12M $4.24 +2,891,250 NEW
53 DSGX 0.14% 127,963 $12M $94.18 $129K +10,363 +8.8%
54 PBA 0.13% 279,262 $11M $40.44 -$825K -44,143 -13.7%
55 EGO 0.12% 356,975 $10M $28.88 $5M +103,975 +41.1%
56 NGD 0.11% 1,331,689 $10M $7.17 -$6M -1,870,333 -58.4%
57 EXK 0.11% 1,214,475 $10M $7.83 +1,214,475 NEW
58 CNM 0.11% 167,615 $9M $53.83 -$826K +4,420 +2.7%
59 POOL 0.10% 26,745 $8M $310.07 -$3M -10,500 -28.2%
60 NFLX 0.10% 6,873 $8M $1,198.92 -$1M -313 -4.4%
61 TU 0.09% 475,273 $7M $15.75 -$7M -410,195 -46.3%
62 SHOP 0.08% 44,412 $7M $148.60 $1M -976 -2.1%
63 UFPT 0.08% 32,159 $6M $199.60 -$3M -6,700 -17.2%
64 SPSC 0.06% 49,375 $5M $104.14 +49,375 NEW
65 BIP 0.05% 138,330 $5M $32.96 -$13M -392,390 -73.9%
66 BN 0.04% 55,056 $4M $68.63 $301K -1,239 -2.2%
67 NOW 0.03% 2,773 $3M $920.28 +2,773 NEW
68 PG 0.03% 14,738 $2M $153.65 -$84K
69 SAND 0.02% 116,599 $1M $12.52 -$11M -1,179,401 -91.0%
70 LSPD 0.01% 39,000 $450K $11.55 -$6K
71 WINA —% -$230K -608 -100.0% SOLD
72 FNV —% -$9M -54,849 -100.0% SOLD

New Positions

SymbolValue% Port
TGB $12M 0.14%
EXK $10M 0.11%
SPSC $5M 0.06%
NOW $3M 0.03%

Sold Out Positions

SymbolValue% Port
FNV —%
WINA —%
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