GI
GFI Investment Counsel Ltd. 13F Disclosure (Q2 2026) — Portfolio & Holdings
GFI Investment Counsel Ltd.CIK: 0001688774
Momentum followerSector-focusedQuality / disciplined sizing
Total reported value
$737.3M
Reporting period: 2026-06-30 · Number of holdings: 30
GFI Investment Counsel Ltd. disclosed 30 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $737.3M and a quarterly turnover rate of 19.9%.
Browse other institutions with $100M to $1B AUMBrowse other institutions starting with "G"
Personality snowflake
- Concentration
- 27.25
- Portfolio Stability
- 19.89
- Momentum
- 100
- Sector conviction
- 90.04
- Diversification
- 60
- Sizing Uniformity
- 89.61
GFI Investment Counsel Ltd.'s disclosed holdings carry a Herfindahl concentration index of 0.068 — mathematically equivalent to about 15 equally-sized positions, well below its 30 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 1.04), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
Recent activity leans toward adding more aggressively to already-large existing positions than to newly initiated ones (a 2.3 percentage-point tilt) — a pattern consistent with a momentum-following approach.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govTrim ROP
-93.6% -$42.4M
New buy IBKR
Add VRSN
+161.4% $17.8M
Trim OTIS
-24.3% -$13.4M
Trim EFX
-2.1% -$5.7M
Add V
-3.1% $5.9M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | HLT | Hilton Worldwide Holdings In | Stock-Consumer Disc | 9.70% | -0.63% | -12.90% | |
| 2 | V | Visa Inc-class A Shares | Stock-Financials | 8.76% | +0.74% | -3.07% | |
| 3 | AXP | American Express Co | Stock-Financials | 8.44% | +0.59% | -3.13% | |
| 4 | FERG | Ferguson Enterprises Inc | Stock-Industrials | 8.08% | -0.31% | -4.50% | |
| 5 | MSCI | Msci Inc | Stock-Financials | 7.95% | -0.08% | -4.03% | |
| 6 | MCO | Moody's CORP | Stock-Financials | 7.24% | +0.06% | -2.15% | |
| 7 | AON | Aon plc | Stock-Financials | 7.20% | +0.25% | +1.63% | |
| 8 | MSFT | Microsoft CORP | Stock-Tech | 6.98% | -0.22% | -2.97% | |
| 9 | SHW | Sherwin-williams Co/the | Stock-Materials | 6.63% | +0.28% | -1.96% | |
| 10 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 5.24% | +0.51% | -2.45% | |
| 11 | EFX | Equifax Inc | Stock-Industrials | 4.89% | -0.82% | -2.10% | |
| 12 | OTIS | Otis Worldwide CORP | Stock-Industrials | 4.30% | -1.87% | -24.33% | |
| 13 | IBKR | Interactive Brokers Gro-cl A | Stock-Financials | 4.00% | +4.00% | NEW | |
| 14 | VRSN | Verisign Inc | Stock-Tech | 3.88% | +2.40% | +161.42% | |
| 15 | BAM | Brookfield Asset Mgmt-a | Stock-Financials | 3.29% | -0.07% | -2.43% | |
| 16 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 0.96% | +0.56% | +92.51% | |
| 17 | BIL | Ss Spdr Bb 1-3m T-bill ETF | ETF-Gov Bonds | 0.90% | -0.06% | -6.08% | |
| 18 | ROP | Roper Technologies Inc | Stock-Tech | 0.37% | -5.81% | -93.62% | |
| 19 | FSV | Firstservice CORP | Stock-Other | 0.26% | +0.01% | — | |
| 20 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 0.17% | +0.17% | NEW | |
| 21 | IEFA | Ishares Core Msci Eafe ETF | ETF-Other | 0.16% | +0.16% | NEW | |
| 22 | DKNG | Draftkings Inc-cl A | Stock-Consumer Disc | 0.14% | +0.14% | NEW | |
| 23 | AAPL | Apple Inc | Stock-Tech | 0.12% | -0.06% | -41.61% | |
| 24 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 0.09% | — | -1.15% | |
| 25 | IGIB | Ishares 5-10y Inv Grade CORP | ETF-Corp Bonds | 0.09% | — | — | |
| 26 | COST | Costco Wholesale CORP | Stock-Consumer Staples | 0.04% | — | — | |
| 27 | TSLA | Tesla Inc | Stock-Consumer Disc | 0.04% | +0.01% | — | |
| 28 | BUZZ | Vaneck Social Sentiment ETF | ETF-Other | 0.03% | +0.03% | NEW | |
| 29 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 0.03% | +0.03% | NEW | |
| 30 | RY | Royal Bank Of Canada | Stock-Financials | 0.03% | +0.03% | NEW |
Portfolio Performance
Performance for Q3 2026
+7.7%
Performance Last 4 Quarters
-4.6%
- Stdev
- +15.2%
- Beta
- +0.91
- Alpha
- -8%
- Max Drawdown
- -14.1%
- Annualized Perf
- +9.4%
- Batting Avg vs S&P
- +38.9%
- Sortino
- +1.14
- Stutzer
- +0.2
- Treynor
- +0.11
- Sterling
- +0.5
- Calmar
- +0.67
- Information Ratio
- -1
- Tracking Error
- +9.8%
- Stdev Down
- +8.9%
- Winning Months %
- +61.1%
- Losing Months %
- +38.9%
- Best 12 Months
- +40.1%
- Worst 12 Months
- -11.2%
- Efficiency Ratio
- +0.25
- Sharpe
- +0.67
- Stdev Sectors
- +15%
- Skewness
- +0.13
- Kurtosis
- +0.06
- Upside Potential
- +2.93
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 30 | $737.3M | 20 | ||
| 2026 Q1 | 24 | $731.5M | 36 | ||
| 2025 Q4 | 26 | $936.8M | 15 | ||
| 2025 Q3 | 26 | $960.6M | 18 | ||
| 2025 Q2 | 21 | $917.9M | 0 | ||
| 2025 Q1 | 18 | $859.8M | 99 | ||
| 2024 Q4 | 20 | $871.1M | 0 | ||
| 2024 Q3 | 20 | $861.8M | 0 | ||
| 2024 Q2 | 19 | $764.4M | 0 | ||
| 2024 Q1 | 18 | $789.2M | 0 | ||
| 2023 Q4 | 17 | $723.1M | 0 | ||
| 2023 Q3 | 17 | $655.5M | 0 | ||
| 2023 Q2 | 16 | $656.9M | 0 | ||
| 2023 Q1 | 16 | $584.5M | 0 | ||
| 2022 Q4 | 16 | $593.6M | 0 | ||
| 2022 Q3 | 16 | $576.5M | 0 | ||
| 2022 Q2 | 19 | $636.9M | 0 | ||
| 2022 Q1 | 17 | $762.2M | 0 | ||
| 2021 Q4 | 17 | $863.4M | 0 | ||
| 2021 Q3 | 18 | $777.7M | 0 | ||
| 2021 Q2 | 19 | $728.4M | 92 | ||
| 2021 Q1 | 21 | $626.3M | 21 | ||
| 2020 Q4 | 16 | $536.8M | 16 | ||
| 2020 Q3 | 16 | $461.8M | 29 | ||
| 2020 Q2 | 15 | $413.0M | 67 | ||
| 2020 Q1 | 12 | $255.6M | 16 | ||
| 2019 Q4 | 12 | $293.3M | 35 | ||
| 2019 Q3 | 12 | $255.8M | 14 | ||
| 2019 Q2 | 12 | $236.9M | 26 | ||
| 2019 Q1 | 13 | $224.5M | 36 | ||
| 2018 Q4 | 12 | $188.4M | 20 | ||
| 2018 Q3 | 25 | $224.2M | 12 | ||
| 2018 Q2 | 25 | $205.3M | 27 | ||
| 2018 Q1 | 36 | $198.9M | 26 | ||
| 2017 Q4 | 26 | $194.2M | 20 | ||
| 2017 Q3 | 27 | $165.8M | 12 | ||
| 2017 Q2 | 25 | $159.2M | 21 | ||
| 2017 Q1 | 26 | $157.3M | 33 | ||
| 2016 Q4 | 24 | $144.2M | 0 |
Holding changes this quarter
GFI Investment Counsel Ltd.'s most significant position changes for 2026-06-30: New buy: Interactive Brokers Gro-cl A (IBKR); New buy: Ss Spdr S&p 500 ETF Trust-us (SPY); New buy: Ishares Core Msci Eafe ETF (IEFA); New buy: Draftkings Inc-cl A (DKNG); New buy: Vaneck Social Sentiment ETF (BUZZ).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | IBKR | Interactive Brokers Gro-cl A | +4% | NEW | New buy |
| 2 | VRSN | Verisign Inc | +2.4% | +161.42% | Add |
| 3 | V | Visa Inc-class A Shares | +0.7% | -3.07% | Trim |
| 4 | AXP | American Express Co | +0.6% | -3.13% | Trim |
| 5 | GOOGL | Alphabet Inc-cl A | +0.6% | +92.51% | Add |
| 6 | AMZN | Amazon.com Inc | +0.5% | -2.45% | Trim |
| 7 | SHW | Sherwin-williams Co/the | +0.3% | -1.96% | Trim |
| 8 | AON | Aon plc | +0.3% | +1.63% | Add |
| 9 | SPY | Ss Spdr S&p 500 ETF Trust-us | +0.2% | NEW | New buy |
| 10 | IEFA | Ishares Core Msci Eafe ETF | +0.2% | NEW | New buy |
| 11 | DKNG | Draftkings Inc-cl A | +0.1% | NEW | New buy |
| 12 | MCO | Moody's CORP | +0.1% | -2.15% | Trim |
| 13 | BUZZ | Vaneck Social Sentiment ETF | 0% | NEW | New buy |
| 14 | GOOG | Alphabet Inc-cl C | 0% | NEW | New buy |
| 15 | RY | Royal Bank Of Canada | 0% | NEW | New buy |
| 16 | FSV | Firstservice CORP | 0% | — | Unchanged |
| 17 | TSLA | Tesla Inc | 0% | — | Unchanged |
| 18 | BRK-B | Berkshire Hathaway Inc-cl B | — | -1.15% | Trim |
| 19 | COST | Costco Wholesale CORP | — | — | Unchanged |
| 20 | IGIB | Ishares 5-10y Inv Grade CORP | — | — | Unchanged |
| 21 | PSLV | Sprott Physical Silver Trust | 0% | EXIT | Sold out |
| 22 | AAPL | Apple Inc | -0.1% | -41.61% | Trim |
| 23 | BIL | Ss Spdr Bb 1-3m T-bill ETF | -0.1% | -6.08% | Trim |
| 24 | BAM | Brookfield Asset Mgmt-a | -0.1% | -2.43% | Trim |
| 25 | MSCI | Msci Inc | -0.1% | -4.03% | Trim |
| 26 | MSFT | Microsoft CORP | -0.2% | -2.97% | Trim |
| 27 | FERG | Ferguson Enterprises Inc | -0.3% | -4.50% | Trim |
| 28 | HLT | Hilton Worldwide Holdings In | -0.6% | -12.90% | Trim |
| 29 | EFX | Equifax Inc | -0.8% | -2.10% | Trim |
| 30 | OTIS | Otis Worldwide CORP | -1.9% | -24.33% | Trim |
| 31 | ROP | Roper Technologies Inc | -5.8% | -93.62% | Trim |
💡
Data Source Notice: AlphaSMO is the web's most authoritative 13F / Inside Trader database. Institutional holdings and insider trades presented here are precisely computed to deliver accurate portfolio reporting.
Filing History
FAQ
What is GFI Investment Counsel Ltd. and what type of investor is it?
GFI Investment Counsel Ltd. is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $737.3M, spread across 30 disclosed positions.
What are GFI Investment Counsel Ltd.'s largest equity positions?
Based on the latest 13F filing, GFI Investment Counsel Ltd.'s top holdings by market value are:
1. Hilton Worldwide Holdings In (HLT) — $71.5M (9.7%)
2. Visa Inc-class A Shares (V) — $64.6M (8.8%)
3. American Express Co (AXP) — $62.2M (8.4%)
4. Ferguson Enterprises Inc (FERG) — $59.6M (8.1%)
5. Msci Inc (MSCI) — $58.6M (8.0%)
What changes did GFI Investment Counsel Ltd. make in its most recent portfolio filing?
In the latest reported quarter, GFI Investment Counsel Ltd. made 27 notable position adjustments: 7 new positions were initiated, 3 existing holdings were added to, 16 positions were partially reduced, and 1 were completely exited. The largest of these moves: New buy: Interactive Brokers Gro-cl A (IBKR); New buy: Ss Spdr S&p 500 ETF Trust-us (SPY); New buy: Ishares Core Msci Eafe ETF (IEFA); New buy: Draftkings Inc-cl A (DKNG); New buy: Vaneck Social Sentiment ETF (BUZZ)
What sectors does GFI Investment Counsel Ltd. focus on?
GFI Investment Counsel Ltd. is concentrated in the following sectors based on its current disclosed equity portfolio:
• Financials: 47.7%
• Industrials: 17.6%
• Consumer Discretionary: 15.4%
• Information Technology: 11.5%
• Materials: 6.8%
• Communication Services: 1.0%
Investment Profile
GFI Investment Counsel Ltd. returned an annualized 9.4% over the trailing 36 months — underperforming the S&P 500 by 8.0 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.91 (roughly in line with the market) and a 39% quarterly batting average against the index.
Its portfolio is broadly diversified and long-term-holding, with 47.7% of the portfolio concentrated in Financials.
Its turnover score has risen from 0 to 20 over the past 4 quarters — a shift toward more active trading.
It has added to its GOOGL position over the past two quarters (+$5.3M, now $7.1M), while trimming ROP over the same stretch (-$58.3M, still holding $2.8M).
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