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Asset Manager ← All Institutions

Mawer Investment Management Ltd.

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

Q4 2025 · Filed 2026-02-10
Market Value
$17.6B
-7.3%
Holdings
133
+18
New Purchases
25
Added To
27
Closed
10
Reduced
70
Top 10 Concentration
43.6%
Turnover
26.3%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
WFC 2.58% 0.77% +1.80% $454M
SHEL 3.36% 1.69% +1.67% $593M
AER 2.67% 1.33% +1.33% $471M
GOOG 6.52% 5.38% +1.14% $1.2B
UBER 1.16% 0.39% +0.77% $205M
SO 0.87% 0.40% +0.48% $154M
NU 0.43% 0.06% +0.38% $77M
WAT 2.80% 2.44% +0.35% $493M
NVDA 0.38% 0.06% +0.32% $67M
SII 0.84% 0.56% +0.29% $148M
SPGI 0.61% 0.43% +0.18% $108M
ABNB 0.51% 0.36% +0.16% $91M
KKR 0.15% 0.00% +0.15% $26M
AMZN 5.32% 5.18% +0.15% $939M
HDB 0.66% 0.53% +0.13% $116M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
AON 2.95% 4.68% -1.73% $521M
MMC 4.11% 4.84% -0.74% $725M
POOL 0.00% 0.69% -0.69% $0
BKNG 3.40% 4.06% -0.66% $601M
FCN 2.23% 2.84% -0.61% $394M
CDW 1.38% 1.98% -0.60% $243M
ATR 1.42% 1.94% -0.52% $251M
MEDP 1.30% 1.75% -0.45% $229M
BDX 0.60% 1.05% -0.45% $105M
NSP 0.26% 0.68% -0.41% $46M
CME 1.76% 2.13% -0.37% $311M
NOC 2.73% 3.09% -0.36% $482M
BRK-A 2.51% 2.82% -0.31% $443M
KSPI 0.03% 0.34% -0.31% $6M
TME 0.78% 1.03% -0.25% $137M

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 27 $7.3B 41.4%
Large Cap 73 $8.7B 49.5%
Mid Cap 23 $1.3B 7.4%
Small Cap 10 $281M 1.6%

Portfolio Analytics

Avg Market Cap
$316.4B
Median Market Cap
$37.0B
Avg P/E
30.4
Median P/E
24.3
Avg Dividend Yield
0.01%
Avg Beta
0.98
# Stocks
127
# ETFs / Funds
6

Top Holdings (133 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 MSFT 7.20% 2,626,566 $1.3B $483.62 -$101M -21,457 -0.8%
2 GOOG 6.52% 3,669,059 $1.2B $313.80 $128M -534,777 -12.7%
3 AMZN 5.32% 4,069,955 $939M $230.82 -$46M -416,032 -9.3%
4 MMC 4.11% 3,905,686 $725M $185.52 -$197M -666,937 -14.6%
5 V 4.04% 2,035,207 $714M $350.71 -$89M -317,559 -13.5%
6 APH 3.89% 5,085,546 $687M $135.14 -$44M -824,837 -14.0%
7 BKNG 3.40% 112,205 $601M $5,355.33 -$172M -31,029 -21.7%
8 SHEL 3.36% 8,075,089 $593M $73.48 $271M +3,574,353 +79.4%
9 AON 2.95% 1,477,693 $521M $352.88 -$369M -1,020,396 -40.9%
10 WAT 2.80% 1,298,752 $493M $379.83 $28M -252,258 -16.3%
11 NOC 2.73% 846,131 $482M $570.21 -$105M -118,657 -12.3%
12 AER 2.67% 3,272,935 $471M $143.76 $217M +1,179,241 +56.3%
13 WFC 2.58% 4,876,127 $454M $93.20 $307M +3,120,399 +177.7%
14 META 2.57% 688,205 $454M $660.09 -$50M +1,431 +0.2%
15 BRK-A 2.51% 587 $443M $754,800.00 -$93M -124 -17.4%
16 FCN 2.23% 2,305,748 $394M $170.83 -$147M -1,039,907 -31.1%
17 ICE 2.23% 2,430,848 $394M $161.96 -$23M -41,518 -1.7%
18 JPM 1.85% 1,015,553 $327M $322.22 -$43M -158,686 -13.5%
19 CME 1.76% 1,140,499 $311M $273.08 -$95M -362,253 -24.1%
20 MA 1.50% 463,159 $264M $570.88 -$27M -49,023 -9.6%
21 ATR 1.42% 2,057,224 $251M $121.96 -$118M -701,802 -25.4%
22 CDW 1.38% 1,786,808 $243M $136.20 -$133M -573,493 -24.3%
23 MEDP 1.30% 407,302 $229M $561.65 -$104M -239,472 -37.0%
24 ABC 1.18% 618,284 $209M $337.75 $5M -32,387 -5.0%
25 OSIS 1.16% 803,602 $205M $255.06 -$8M -52,781 -6.2%
26 UBER 1.16% 2,503,682 $205M $81.71 $130M +1,747,252 +231.0%
27 FERG 1.07% 846,921 $189M $222.63 -$16M -64,456 -7.1%
28 DE 1.01% 382,487 $178M $465.57 -$52M -119,811 -23.9%
29 MLM 0.93% 264,946 $165M $622.66 -$11M -14,450 -5.2%
30 AJG 0.90% 613,031 $159M $258.79 -$42M -33,267 -5.2%
31 ABT 0.88% 1,245,467 $156M $125.29 -$12M -10,313 -0.8%
32 SO 0.87% 1,767,773 $154M $87.20 $78M +969,493 +121.5%
33 SII 0.84% 1,515,002 $148M $97.92 $43M +245,173 +19.3%
34 TME 0.78% 7,808,297 $137M $17.53 -$59M -573,842 -6.8%
35 BWXT 0.76% 772,693 $134M $172.84 -$14M -27,854 -3.5%
36 CACI 0.74% 246,257 $131M $532.81 $5M -6,249 -2.5%
37 PG 0.73% 896,693 $129M $143.31 -$18M -53,797 -5.7%
38 VZ 0.69% 2,984,875 $122M $40.73 -$57M -1,075,348 -26.5%
39 HDB 0.66% 3,187,295 $116M $36.54 $15M +218,865 +7.4%
40 AEP 0.64% 976,788 $113M $115.31 -$4M -58,371 -5.6%
41 SPGI 0.61% 206,095 $108M $522.59 $26M +37,866 +22.5%
42 BDX 0.60% 543,136 $105M $194.07 -$94M -522,870 -49.0%
43 ACN 0.54% 354,552 $95M $268.30 -$22M -120,490 -25.4%
44 ABNB 0.51% 667,850 $91M $135.72 $23M +110,926 +19.9%
45 JNJ 0.49% 415,882 $86M $206.95 $12M +14,220 +3.5%
46 DHR 0.48% 370,579 $85M $228.92 $7M -23,607 -6.0%
47 ESQ 0.46% 800,465 $82M $102.07 $2M +23,692 +3.0%
48 TXN 0.45% 456,844 $79M $173.49 -$5M -1,982 -0.4%
49 NTES 0.44% 559,896 $77M $137.62 $8M +108,446 +24.0%
50 NU 0.43% 4,585,720 $77M $16.74 $66M +3,909,320 +578.0%
51 ITT 0.42% 422,740 $73M $173.51 $1M +19,821 +4.9%
52 ANTM 0.41% 207,095 $73M $350.55 $12M +20,438 +10.9%
53 BBSI 0.40% 1,964,053 $71M $36.21 -$15M +13,331 +0.7%
54 BIO 0.40% 233,946 $71M $302.99 $3M -9,522 -3.9%
55 NKE 0.39% 1,070,117 $68M $63.71 -$14M -112,942 -9.6%
56 NVDA 0.38% 356,928 $67M $186.50 $56M +300,038 +527.4%
57 ABBV 0.34% 261,398 $60M $228.49 $2M +10,550 +4.2%
58 AAON 0.33% 766,207 $58M $76.25 -$15M -23,102 -2.9%
59 TW 0.32% 531,171 $57M $107.54 $5M +62,575 +13.3%
60 VRSK 0.32% 255,201 $57M $223.69 -$16M -37,365 -12.8%
61 TSM 0.32% 186,670 $57M $303.89 -$3M -27,725 -12.9%
62 NOVT 0.31% 457,160 $54M $118.99 $15M +66,012 +16.9%
63 UNH 0.27% 145,241 $48M $330.11 -$5M -7,064 -4.6%
64 NSP 0.26% 1,200,192 $46M $38.72 -$83M -1,423,087 -54.2%
65 CGNX 0.26% 1,282,831 $46M $35.98 -$19M -156,816 -10.9%
66 VVV 0.25% 1,547,060 $45M $29.06 -$36M -713,483 -31.6%
67 HSY 0.25% 246,199 $45M $181.98 -$1M +1,204 +0.5%
68 ZTS 0.25% 354,445 $45M $125.82 -$3M +27,843 +8.5%
69 SHW 0.25% 133,748 $43M $324.03 -$26M -66,242 -33.1%
70 AME 0.23% 201,078 $41M $205.31 -$1M -26,422 -11.6%
71 DFIN 0.23% 859,565 $40M $46.69 -$4M -4,064 -0.5%
72 BWA 0.22% 874,457 $39M $45.06 -$2M -58,055 -6.2%
73 IBKR 0.16% 429,818 $28M $64.31 -$4M -30,978 -6.7%
74 BRK-B 0.16% 54,833 $28M $502.65 -$1M -2,150 -3.8%
75 MKC 0.15% 400,074 $27M $68.11 -$5M -76,805 -16.1%
76 RYAN 0.15% 525,172 $27M $51.63 $656K +55,716 +11.9%
77 KKR 0.15% 206,248 $26M $127.48 +206,248 NEW
78 SN 0.14% 216,701 $24M $111.90 -$1M -28,860 -11.8%
79 CASH 0.12% 310,623 $22M $71.00 -$4M -35,438 -10.2%
80 ENSG 0.12% 126,186 $22M $174.20 $3M +17,225 +15.8%
81 ATAT 0.11% 479,543 $19M $39.40 +479,543 NEW
82 LPLA 0.10% 49,606 $18M $357.17 $188K -3,084 -5.8%
83 RMD 0.10% 72,954 $18M $240.87 -$4M -4,582 -5.9%
84 KNSL 0.08% 34,580 $14M $391.12 -$37K +2,690 +8.4%
85 KLAC 0.07% 9,587 $12M $1,215.08 $657K -604 -5.9%
86 DORM 0.06% 91,249 $11M $123.19 +91,249 NEW
87 OPLN 0.06% 372,320 $11M $29.78 +372,320 NEW
88 WAY 0.06% 337,732 $11M $32.75 +337,732 NEW
89 FOUR 0.06% 169,872 $11M $62.97 -$3M -8,446 -4.7%
90 CSL 0.06% 32,310 $10M $319.86 -$3M -6,988 -17.8%
91 MUSA 0.06% 25,365 $10M $403.52 -$5M -13,852 -35.3%
92 SNDK 0.06% 42,908 $10M $237.38 +42,908 NEW
93 LYFT 0.06% 508,078 $10M $19.37 +508,078 NEW
94 WMS 0.05% 65,373 $9M $144.83 -$2M -16,559 -20.2%
95 MDLN 0.05% 225,000 $9M $42.00 +225,000 NEW
96 WMG 0.05% 295,041 $9M $30.67 -$2M -19,011 -6.0%
97 SFM 0.04% 97,119 $8M $79.67 +97,119 NEW
98 VITL 0.04% 216,077 $7M $31.94 +216,077 NEW
99 IPAR 0.04% 76,881 $7M $84.83 +76,881 NEW
100 FIX 0.03% 6,497 $6M $933.29 +6,497 NEW

New Positions

SymbolValue% Port
KKR $26M 0.15%
ATAT $19M 0.11%
DORM $11M 0.06%
OPLN $11M 0.06%
WAY $11M 0.06%
SNDK $10M 0.06%
LYFT $10M 0.06%
MDLN $9M 0.05%
SFM $8M 0.04%
VITL $7M 0.04%
IPAR $7M 0.04%
FIX $6M 0.03%
EWU $5M 0.03%
MUX $5M 0.03%
CSWI $4M 0.03%

Sold Out Positions

SymbolValue% Port
STT —%
YUMC —%
YMM —%
FCNCA —%
ACWI —%
POOL —%
VRSN —%
ARM —%
PAYX —%
ORCL —%
View SEC EDGAR Filings for Mawer Investment Management Ltd. →

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