— Know what they know.
Not Investment Advice
Asset Manager ← All Institutions

Mawer Investment Management Ltd.

517 10TH AVENUE S. W. SUITE 600, CALGARY, A0 T2R 0A8 • 403-262-4673

Q3 2025 · Filed 2025-11-04
Market Value
$19.0B
-2.1%
Holdings
115
New Purchases
7
Added To
30
Closed
7
Reduced
69
Top 10 Concentration
45.3%
Turnover
12.2%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
WAT 2.44% 0.86% +1.59% $465M
ICE 2.19% 0.84% +1.35% $417M
CME 2.13% 1.03% +1.11% $406M
ATR 1.94% 1.13% +0.81% $369M
WFC 0.77% 0.00% +0.77% $147M
MA 1.53% 0.82% +0.72% $291M
AMZN 5.18% 4.48% +0.69% $985M
BDX 1.05% 0.39% +0.66% $200M
GOOG 5.38% 4.75% +0.63% $1.0B
NOC 3.09% 2.53% +0.56% $588M
OSIS 1.12% 0.59% +0.53% $213M
MEDP 1.75% 1.32% +0.43% $333M
AER 1.33% 0.93% +0.40% $253M
UBER 0.39% 0.00% +0.39% $74M
V 4.22% 3.86% +0.36% $803M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
LULU 0.00% 1.66% -1.66% $0
UNH 0.28% 1.70% -1.42% $53M
MMC 4.84% 6.05% -1.20% $922M
TNET 0.00% 1.06% -1.06% $0
WMG 0.06% 1.03% -0.98% $11M
RHI 0.00% 0.83% -0.83% $0
NSP 0.68% 1.50% -0.82% $129M
AON 4.68% 5.45% -0.77% $891M
YUMC 0.14% 0.87% -0.72% $27M
BKNG 4.06% 4.73% -0.67% $773M
CDW 1.98% 2.43% -0.45% $376M
ACN 0.62% 1.00% -0.39% $117M
FCN 2.84% 3.17% -0.33% $541M
DE 1.21% 1.46% -0.26% $230M
BRK-A 2.82% 3.04% -0.22% $536M

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Financial Services 29.4%
Technology 17.3%
Healthcare 12.2%
Industrials 11.6%
Communication Services 9.9%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 26 $7.1B 37.3%
Large Cap 66 $9.9B 52.2%
Mid Cap 15 $1.6B 8.5%
Small Cap 8 $380M 2.0%

Portfolio Analytics

Avg Market Cap
$359.7B
Median Market Cap
$40.8B
Avg P/E
29.6
Median P/E
22.5
Avg Dividend Yield
0.01%
Avg Beta
0.89
# Stocks
114
# ETFs / Funds
1

Top Holdings (115 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 MSFT 7.21% 2,648,023 $1.4B $517.95 -$57M -224,789 -7.8%
2 GOOG 5.38% 4,203,836 $1.0B $243.55 $100M -1,003,189 -19.3%
3 AMZN 5.18% 4,485,987 $985M $219.57 $114M +516,207 +13.0%
4 MMC 4.84% 4,572,623 $922M $201.53 -$254M -802,248 -14.9%
5 AON 4.68% 2,498,089 $891M $356.58 -$169M -473,444 -15.9%
6 V 4.22% 2,352,766 $803M $341.38 $53M +238,872 +11.3%
7 BKNG 4.06% 143,234 $773M $5,399.27 -$146M -15,568 -9.8%
8 APH 3.84% 5,910,383 $731M $123.75 -$2M -1,517,720 -20.4%
9 NOC 3.09% 964,788 $588M $609.32 $96M -19,221 -1.9%
10 FCN 2.84% 3,345,655 $541M $161.65 -$75M -470,522 -12.3%
11 BRK-A 2.82% 711 $536M $754,200.00 -$55M -100 -12.3%
12 META 2.65% 686,774 $504M $734.38 -$39M -49,124 -6.7%
13 WAT 2.44% 1,551,010 $465M $299.81 $299M +1,074,449 +225.5%
14 ICE 2.19% 2,472,366 $417M $168.48 $254M +1,586,620 +179.1%
15 CME 2.13% 1,502,752 $406M $270.19 $206M +777,571 +107.2%
16 CDW 1.98% 2,360,301 $376M $159.28 -$96M -282,067 -10.7%
17 JPM 1.95% 1,174,239 $370M $315.43 $10M -67,730 -5.5%
18 ATR 1.94% 2,759,026 $369M $133.66 $150M +1,358,269 +97.0%
19 MEDP 1.75% 646,774 $333M $514.16 $76M -170,658 -20.9%
20 SHEL 1.69% 4,500,736 $322M $71.53 -$1M -89,758 -2.0%
21 MA 1.53% 512,182 $291M $568.81 $133M +230,110 +81.6%
22 AER 1.33% 2,093,694 $253M $121.00 $72M +543,465 +35.1%
23 DE 1.21% 502,298 $230M $457.26 -$55M -57,119 -10.2%
24 OSIS 1.12% 856,383 $213M $249.24 $98M +343,727 +67.0%
25 FERG 1.08% 911,377 $205M $224.58 $3M -16,946 -1.8%
26 ABC 1.07% 650,671 $203M $312.53 $2M -20,938 -3.1%
27 AJG 1.05% 646,298 $200M $309.74 -$18M -35,212 -5.2%
28 BDX 1.05% 1,066,006 $200M $187.17 $123M +623,844 +141.1%
29 TME 1.03% 8,382,139 $196M $23.34 -$2M -1,763,667 -17.4%
30 VZ 0.94% 4,060,223 $178M $43.95 -$7M -217,591 -5.1%
31 MLM 0.93% 279,396 $176M $630.28 $19M -7,324 -2.5%
32 ABT 0.88% 1,255,780 $168M $133.94 $7M +70,122 +5.9%
33 BWXT 0.78% 800,547 $148M $184.37 $18M -99,902 -11.1%
34 WFC 0.77% 1,755,728 $147M $83.82 +1,755,728 NEW
35 PG 0.77% 950,490 $146M $153.65 -$12M -42,324 -4.3%
36 POOL 0.69% 424,570 $132M $310.07 -$14M -73,774 -14.8%
37 NSP 0.68% 2,623,279 $129M $49.20 -$162M -2,216,903 -45.8%
38 CACI 0.66% 252,506 $126M $498.78 -$1M -13,950 -5.2%
39 ACN 0.62% 475,042 $117M $246.60 -$78M -176,739 -27.1%
40 AEP 0.61% 1,035,159 $116M $112.50 $3M -53,717 -4.9%
41 SII 0.56% 1,269,829 $106M $83.19 $55M +539,940 +74.0%
42 HDB 0.53% 2,968,430 $101M $34.16 -$7M +1,560,407 +110.8%
43 BBSI 0.45% 1,950,722 $86M $44.32 $5M +666 +0.0%
44 TXN 0.44% 458,826 $84M $183.73 $7M +88,640 +23.9%
45 NKE 0.43% 1,183,059 $82M $69.73 -$3M -26,340 -2.2%
46 SPGI 0.43% 168,229 $82M $486.71 $12M +36,078 +27.3%
47 VVV 0.43% 2,260,543 $81M $35.91 -$20M -418,335 -15.6%
48 ESQ 0.42% 776,773 $79M $102.06 $6M +894 +0.1%
49 DHR 0.41% 394,186 $78M $198.26 -$1M -6,703 -1.7%
50 SO 0.40% 798,280 $76M $94.77 -$1M -38,200 -4.6%
51 JNJ 0.39% 401,662 $74M $185.42 $12M -8,150 -2.0%
52 UBER 0.39% 756,430 $74M $97.97 +756,430 NEW
53 AAON 0.39% 789,309 $74M $93.44 $15M -1,157 -0.1%
54 VRSK 0.39% 292,566 $74M $251.51 -$37M -62,716 -17.6%
55 ITT 0.38% 402,919 $72M $178.76 $21M +76,841 +23.6%
56 SHW 0.36% 199,990 $69M $346.26 -$25M -73,269 -26.8%
57 NTES 0.36% 451,450 $69M $151.99 $6M -12,040 -2.6%
58 BIO 0.36% 243,468 $68M $280.39 $4M -23,640 -8.8%
59 ABNB 0.36% 556,924 $68M $121.42 $58M +481,888 +642.2%
60 CGNX 0.34% 1,439,647 $65M $45.30 $19M -1,820 -0.1%
61 KSPI 0.34% 785,974 $64M $81.68 -$4M -19,550 -2.4%
62 ANTM 0.32% 186,657 $60M $323.12 $6M +48,118 +34.7%
63 TSM 0.31% 214,395 $60M $279.29 $13M +6,327 +3.0%
64 ABBV 0.31% 250,848 $58M $231.54 $13M +6,854 +2.8%
65 UNH 0.28% 152,305 $53M $345.30 -$278M -907,064 -85.6%
66 TW 0.27% 468,596 $52M $110.98 -$18M -9,553 -2.0%
67 ZTS 0.25% 326,602 $48M $146.32 $2M +33,022 +11.2%
68 HSY 0.24% 244,995 $46M $187.05 $3M -10,646 -4.2%
69 DFIN 0.23% 863,629 $44M $51.43 -$22M -210,757 -19.6%
70 PAYX 0.23% 338,331 $43M $126.76 -$16M -69,365 -17.0%
71 AME 0.22% 227,500 $43M $188.00 -$202K -9,969 -4.2%
72 BWA 0.22% 932,512 $41M $43.96 $8M -52,178 -5.3%
73 STT 0.21% 350,267 $41M $116.01 $2M -11,392 -3.1%
74 NOVT 0.21% 391,148 $39M $100.15 $35M +358,941 +1114.5%
75 ARM 0.20% 269,784 $38M $141.49 -$6M -5,963 -2.2%
76 MKC 0.17% 476,879 $32M $66.91 -$5M -4,634 -1.0%
77 IBKR 0.17% 460,796 $32M $68.81 $7M +8,748 +1.9%
78 BRK-B 0.15% 56,983 $29M $502.74 $654K -644 -1.1%
79 YUMC 0.14% 636,728 $27M $42.92 -$141M -3,133,137 -83.1%
80 RYAN 0.14% 469,456 $26M $56.36 -$7M -27,478 -5.5%
81 CASH 0.13% 346,061 $26M $74.01 $5M +91,066 +35.7%
82 SN 0.13% 245,561 $25M $103.15 -$4M -46,732 -16.0%
83 RMD 0.11% 77,536 $21M $273.73 $1M -434 -0.6%
84 ENSG 0.10% 108,961 $19M $172.77 $2M -609 -0.6%
85 LPLA 0.09% 52,690 $18M $332.69 -$2M -294 -0.6%
86 MUSA 0.08% 39,217 $15M $388.26 $2M +7,515 +23.7%
87 FOUR 0.07% 178,318 $14M $77.40 $3M +71,489 +66.9%
88 KNSL 0.07% 31,890 $14M $425.26 -$4M -3,796 -10.6%
89 CSL 0.07% 39,298 $13M $328.96 -$2M -219 -0.6%
90 FCNCA 0.06% 6,433 $12M $1,789.16 -$5M -2,191 -25.4%
91 WMS 0.06% 81,932 $11M $138.70 $2M -459 -0.6%
92 KLAC 0.06% 10,191 $11M $1,078.60 $2M -60 -0.6%
93 NU 0.06% 676,400 $11M $16.01 +676,400 NEW
94 WMG 0.06% 314,052 $11M $34.06 -$190M -7,058,998 -95.7%
95 NVDA 0.06% 56,890 $11M $186.58 $10M +54,890 +2744.5%
96 BUR 0.04% 678,384 $8M $11.96 +678,384 NEW
97 ORLY 0.04% 74,025 $8M $107.81 -$367K -18,595 -20.1%
98 EEFT 0.04% 79,961 $7M $87.81 -$1M -446 -0.6%
99 CBZ 0.04% 127,954 $7M $52.96 -$2M -714 -0.6%
100 VRSN 0.03% 22,776 $6M $279.57 -$2M -7,760 -25.4%

New Positions

SymbolValue% Port
WFC $147M 0.77%
UBER $74M 0.39%
NU $11M 0.06%
BUR $8M 0.04%
ACWI $6M 0.03%
ORCL $239K —%
RY $220K —%

Sold Out Positions

SymbolValue% Port
TNET —%
DHI —%
RHI —%
SNA —%
MAR —%
LULU —%
ICLR —%
View SEC EDGAR Filings for Mawer Investment Management Ltd. →

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