MI
Manitou Investment Management Ltd. — 13F Portfolio Analysis & Stock Picks (Q2 2026)
Manitou Investment Management Ltd.CIK: 0001657428
Momentum followerQuality / disciplined sizing
Total reported value
$537.9M
Reporting period: 2026-06-30 · Number of holdings: 48
Manitou Investment Management Ltd. disclosed 48 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $537.9M and a quarterly turnover rate of 27.4%.
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Personality snowflake
- Concentration
- 40.51
- Portfolio Stability
- 27.39
- Momentum
- 100
- Sector conviction
- 59.25
- Diversification
- 96
- Sizing Uniformity
- 80.14
Manitou Investment Management Ltd.'s disclosed holdings carry a Herfindahl concentration index of 0.101 — mathematically equivalent to about 10 equally-sized positions, well below its 48 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.99), with a handful of outsized bets alongside many smaller positions.
Recent activity leans toward adding more aggressively to already-large existing positions than to newly initiated ones (a 5.4 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
-90.3% -$39.2M
Add CRH
+906.6% $14.8M
Add GOOGL
-1.0% $15.6M
Add APH
+1.9% $13.1M
Trim AAPL
-85.0% -$10.3M
Add MSFT
+24.3% $11.7M
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 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 15.74% | -0.19% | +0.70% | |
| 2 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 15.54% | +2.10% | -1.03% | |
| 3 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 12.54% | +1.07% | +1.58% | |
| 4 | MSFT | Microsoft CORP | Stock-Tech | 10.77% | +1.62% | +24.31% | |
| 5 | APH | Amphenol Corp-cl A | Stock-Tech | 8.23% | +2.07% | +1.85% | |
| 6 | SYK | Stryker CORP | Stock-Healthcare | 6.86% | +1.44% | +40.51% | |
| 7 | IDXX | Idexx Laboratories Inc | Stock-Healthcare | 6.85% | -0.88% | +0.55% | |
| 8 | MA | Mastercard Inc - A | Stock-Financials | 6.34% | -0.50% | -4.11% | |
| 9 | META | Meta Platforms Inc-class A | Stock-Comm Services | 4.44% | +0.03% | +8.71% | |
| 10 | EW | Edwards Lifesciences CORP | Stock-Healthcare | 3.19% | +0.27% | +2.91% | |
| 11 | CRH | CRH plc | Stock-Materials | 3.05% | +2.73% | +906.60% | |
| 12 | JPM | Jpmorgan Chase & Co | Stock-Financials | 2.56% | -0.04% | -5.99% | |
| 13 | BN | Brookfield CORP | Stock-Financials | 1.00% | +0.32% | +49.46% | |
| 14 | ROP | Roper Technologies Inc | Stock-Tech | 0.74% | -7.81% | -90.31% | |
| 15 | BRK-A | Berkshire Hathaway Inc-cl A | Stock-Other | 0.56% | -0.01% | — | |
| 16 | V | Visa Inc-class A Shares | Stock-Financials | 0.54% | +0.30% | +111.04% | |
| 17 | AAPL | Apple Inc | Stock-Tech | 0.39% | -2.06% | -85.00% | |
| 18 | DHR | Danaher CORP | Stock-Healthcare | 0.36% | +0.15% | +76.17% | |
| 19 | COST | Costco Wholesale CORP | Stock-Consumer Staples | 0.04% | — | — | |
| 20 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 0.03% | — | -24.14% | |
| 21 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.02% | — | — | |
| 22 | APA | Apa CORP | Stock-Energy | 0.02% | -0.01% | — | |
| 23 | WFC | Wells Fargo & Co | Stock-Financials | 0.02% | — | — | |
| 24 | BAC | Bank Of America CORP | Stock-Financials | 0.02% | — | — | |
| 25 | USB | US Bancorp | Stock-Financials | 0.02% | — | — | |
| 26 | IBM | Intl Business Machines CORP | Stock-Tech | 0.01% | — | — | |
| 27 | LIN | Linde plc | Stock-Materials | 0.01% | -0.01% | -12.74% | |
| 28 | CAT | Caterpillar Inc | Stock-Industrials | 0.01% | — | — | |
| 29 | WELL | Welltower Inc | Stock-Real Estate | 0.01% | — | — | |
| 30 | SOBO | South Bow CORP | Stock-Other | 0.01% | — | — | |
| 31 | CME | Cme Group Inc | Stock-Financials | 0.01% | -0.12% | -89.82% | |
| 32 | LLY | Eli Lilly & Co | Stock-Healthcare | 0.01% | — | — | |
| 33 | MMM | 3m Co | Stock-Industrials | 0.01% | — | — | |
| 34 | TJX | Tjx Companies Inc | Stock-Consumer Disc | 0.01% | — | — | |
| 35 | FAST | Fastenal Co | Stock-Industrials | 0.01% | — | — | |
| 36 | FRMO | Frmo CORP | Stock-Other | 0.01% | -0.01% | -56.52% | |
| 37 | NVO | Novo-nordisk A/s-spons Adr | Stock-Healthcare | 0.01% | — | -44.52% | |
| 38 | WMT | Walmart Inc | Stock-Consumer Staples | 0.01% | — | — | |
| 39 | WHR | Whirlpool CORP | Stock-Consumer Disc | — | -0.01% | — | |
| 40 | NSRGY | Nestle Sa-spons Adr | Stock-Other | — | — | — | |
| 41 | XRAY | Dentsply Sirona Inc | Stock-Healthcare | — | — | — | |
| 42 | PSA | Public Storage | Stock-Real Estate | — | — | — | |
| 43 | XOVR | Ershares Private-public Cros | ETF-Other | — | — | NEW | |
| 44 | PENN | Penn Entertainment Inc | Stock-Consumer Disc | — | — | — | |
| 45 | XYZ | Block Inc | Stock-Financials | — | — | — | |
| 46 | SRAD | Sportradar Group AG | Stock-Other | — | — | — | |
| 47 | COIN | Coinbase Global Inc -class A | Stock-Financials | — | — | — | |
| 48 | ✓ | Transtel SA Common | Stock-Other | — | — | — |
Portfolio Performance
Performance for Q3 2026
+5%
Performance Last 4 Quarters
+14.4%
Based on 84% of reported portfolio value with available pricing
- Stdev
- +15.2%
- Beta
- +1.02
- Alpha
- -3.5%
- Max Drawdown
- -13.5%
- Annualized Perf
- +17%
- Batting Avg vs S&P
- +47.2%
- Sortino
- +2.07
- Stutzer
- +0.33
- Treynor
- +0.17
- Sterling
- +0.88
- Calmar
- +1.26
- Information Ratio
- -0.41
- Tracking Error
- +7.7%
- Stdev Down
- +8.1%
- Winning Months %
- +69.4%
- Losing Months %
- +30.6%
- Best 12 Months
- +29.2%
- Worst 12 Months
- +0.9%
- Efficiency Ratio
- +0.44
- Sharpe
- +1.11
- Stdev Sectors
- +9.9%
- Skewness
- +0.15
- Kurtosis
- +0.02
- Upside Potential
- +3.81
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 48 | $537.9M | 27 | ||
| 2026 Q1 | 52 | $505.6M | 19 | ||
| 2025 Q4 | 56 | $570.7M | 12 | ||
| 2025 Q3 | 57 | $573.2M | 36 | ||
| 2025 Q2 | 61 | $525.8M | 0 | ||
| 2025 Q1 | 66 | $514.4M | 100 | ||
| 2024 Q4 | 55 | $506.2M | 0 | ||
| 2024 Q3 | 55 | $525.7M | 0 | ||
| 2024 Q2 | 55 | $447.0M | 0 | ||
| 2024 Q1 | 54 | $499.4M | 0 | ||
| 2023 Q4 | 55 | $460.6M | 0 | ||
| 2023 Q3 | 59 | $420.8M | 0 | ||
| 2023 Q2 | 61 | $420.3M | 0 | ||
| 2023 Q1 | 67 | $407.7M | 0 | ||
| 2022 Q4 | 53 | $564.4M | 0 | ||
| 2022 Q3 | 42 | $531.7M | 0 | ||
| 2022 Q2 | 46 | $535.5M | 0 | ||
| 2022 Q1 | 46 | $651.2M | 0 | ||
| 2021 Q4 | 48 | $623.9M | 0 | ||
| 2021 Q3 | 48 | $546.6M | 0 | ||
| 2021 Q2 | 48 | $570.6M | 96 | ||
| 2021 Q1 | 47 | $523.5M | 28 | ||
| 2020 Q4 | 48 | $464.2M | 26 | ||
| 2020 Q3 | 43 | $383.1M | 19 | ||
| 2020 Q2 | 40 | $388.8M | 20 | ||
| 2020 Q1 | 42 | $335.1M | 44 | ||
| 2019 Q4 | 40 | $448.1M | 16 | ||
| 2019 Q3 | 41 | $413.6M | 11 | ||
| 2019 Q2 | 42 | $402.5M | 11 | ||
| 2019 Q1 | 43 | $401.1M | 61 | ||
| 2018 Q4 | 37 | $460.2M | 51 | ||
| 2018 Q3 | 41 | $397.6M | 45 | ||
| 2018 Q2 | 30 | $264.2M | 52 | ||
| 2018 Q1 | 32 | $322.4M | 13 | ||
| 2017 Q4 | 28 | $350.3M | 16 | ||
| 2017 Q3 | 28 | $329.7M | 22 | ||
| 2017 Q2 | 31 | $342.7M | 23 | ||
| 2017 Q1 | 40 | $359.3M | 9 | ||
| 2016 Q4 | 41 | $339.3M | 24 | ||
| 2016 Q3 | 35 | $307.7M | 12 | ||
| 2016 Q2 | 36 | $315.0M | 41 | ||
| 2016 Q1 | 36 | $240.8M | 30 | ||
| 2015 Q4 | 30 | $250.8M | 16 | ||
| 2015 Q3 | 28 | $228.5M | 0 |
Holding changes this quarter
Manitou Investment Management Ltd.'s most significant position changes for 2026-06-30: Sold out: Markel Group Inc (MKL); Sold out: Honeywell International Inc (HON); Sold out: L'oreal-unsponsored Adr (LRLCY); Sold out: Watsco Inc (WSO); Sold out: Lululemon Athletica Inc (LULU).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | CRH | CRH plc | +2.7% | +906.60% | Add |
| 2 | GOOGL | Alphabet Inc-cl A | +2.1% | -1.03% | Trim |
| 3 | APH | Amphenol Corp-cl A | +2.1% | +1.85% | Add |
| 4 | MSFT | Microsoft CORP | +1.6% | +24.31% | Add |
| 5 | SYK | Stryker CORP | +1.4% | +40.51% | Add |
| 6 | AMZN | Amazon.com Inc | +1.1% | +1.58% | Add |
| 7 | BN | Brookfield CORP | +0.3% | +49.46% | Add |
| 8 | V | Visa Inc-class A Shares | +0.3% | +111.04% | Add |
| 9 | EW | Edwards Lifesciences CORP | +0.3% | +2.91% | Add |
| 10 | DHR | Danaher CORP | +0.2% | +76.17% | Add |
| 11 | META | Meta Platforms Inc-class A | 0% | +8.71% | Add |
| 12 | CAT | Caterpillar Inc | — | — | Unchanged |
| 13 | LRLCY | L'oreal-unsponsored Adr | — | EXIT | Sold out |
| 14 | WSO | Watsco Inc | — | EXIT | Sold out |
| 15 | BAC | Bank Of America CORP | — | — | Unchanged |
| 16 | COST | Costco Wholesale CORP | — | — | Unchanged |
| 17 | LULU | Lululemon Athletica Inc | — | EXIT | Sold out |
| 18 | USB | US Bancorp | — | — | Unchanged |
| 19 | NVO | Novo-nordisk A/s-spons Adr | — | -44.52% | Trim |
| 20 | LLY | Eli Lilly & Co | — | — | Unchanged |
| 21 | GOOG | Alphabet Inc-cl C | — | -24.14% | Trim |
| 22 | IBM | Intl Business Machines CORP | — | — | Unchanged |
| 23 | WELL | Welltower Inc | — | — | Unchanged |
| 24 | XOVR | Ershares Private-public Cros | — | NEW | New buy |
| 25 | MMM | 3m Co | — | — | Unchanged |
| 26 | JNJ | Johnson & Johnson | — | — | Unchanged |
| 27 | WFC | Wells Fargo & Co | — | — | Unchanged |
| 28 | SOBO | South Bow CORP | — | — | Unchanged |
| 29 | WMT | Walmart Inc | — | — | Unchanged |
| 30 | TJX | Tjx Companies Inc | — | — | Unchanged |
| 31 | XRAY | Dentsply Sirona Inc | — | — | Unchanged |
| 32 | PSA | Public Storage | — | — | Unchanged |
| 33 | FAST | Fastenal Co | — | — | Unchanged |
| 34 | NSRGY | Nestle Sa-spons Adr | — | — | Unchanged |
| 35 | PENN | Penn Entertainment Inc | — | — | Unchanged |
| 36 | XYZ | Block Inc | — | — | Unchanged |
| 37 | COIN | Coinbase Global Inc -class A | — | — | Unchanged |
| 38 | SRAD | Sportradar Group AG | — | — | Unchanged |
| 39 | ✓ | Transtel SA Common | — | — | Unchanged |
| 40 | BRK-A | Berkshire Hathaway Inc-cl A | 0% | — | Unchanged |
| 41 | FRMO | Frmo CORP | 0% | -56.52% | Trim |
| 42 | HON | Honeywell International Inc | 0% | EXIT | Sold out |
| 43 | APA | Apa CORP | 0% | — | Unchanged |
| 44 | WHR | Whirlpool CORP | 0% | — | Unchanged |
| 45 | LIN | Linde plc | 0% | -12.74% | Trim |
| 46 | JPM | Jpmorgan Chase & Co | 0% | -5.99% | Trim |
| 47 | CME | Cme Group Inc | -0.1% | -89.82% | Trim |
| 48 | BRK-B | Berkshire Hathaway Inc-cl B | -0.2% | +0.70% | Add |
| 49 | MKL | Markel Group Inc | -0.4% | EXIT | Sold out |
| 50 | MA | Mastercard Inc - A | -0.5% | -4.11% | Trim |
1–50 of 53
Filing History
FAQ
What is Manitou Investment Management Ltd. and what type of investor is it?
Manitou Investment Management 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 $537.9M, spread across 48 disclosed positions.
What are Manitou Investment Management Ltd.'s largest equity positions?
Based on the latest 13F filing, Manitou Investment Management Ltd.'s top holdings by market value are:
1. Berkshire Hathaway Inc-cl B (BRK-B) — $84.7M (15.7%)
2. Alphabet Inc-cl A (GOOGL) — $83.6M (15.5%)
3. Amazon.com Inc (AMZN) — $67.4M (12.5%)
4. Microsoft CORP (MSFT) — $58.0M (10.8%)
5. Amphenol Corp-cl A (APH) — $44.3M (8.2%)
What changes did Manitou Investment Management Ltd. make in its most recent portfolio filing?
In the latest reported quarter, Manitou Investment Management Ltd. made 28 notable position adjustments: 1 new positions were initiated, 12 existing holdings were added to, 10 positions were partially reduced, and 5 were completely exited. The largest of these moves: Sold out: Markel Group Inc (MKL); Sold out: Honeywell International Inc (HON); Sold out: L'oreal-unsponsored Adr (LRLCY); Sold out: Watsco Inc (WSO); Sold out: Lululemon Athletica Inc (LULU)
What sectors does Manitou Investment Management Ltd. focus on?
Manitou Investment Management Ltd. is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 24.1%
• Communication Services: 23.9%
• Health Care: 20.7%
• Consumer Discretionary: 15.0%
• Financials: 12.5%
• Materials: 3.7%
* This report is exclusively curated by the AlphaSMO team. AlphaSMO is the web's most authoritative 13F / Inside Trader database, delivering precise insider trading and institutional holdings insights.
Investment Profile
Manitou Investment Management Ltd. returned an annualized 17.0% over the trailing 36 months — underperforming the S&P 500 by 3.5 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 1.02 (roughly in line with the market) and a 47% quarterly batting average against the index.
Its portfolio is moderately concentrated and moderately active.
Its turnover score has risen from 0 to 27 over the past 4 quarters — a shift toward more active trading.
It has added to its AMZN position over the past two quarters (+$17.3M, now $67.4M), while trimming AAPL over the same stretch (-$17.7M, still holding $2.1M).
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Developer Access
Access Manitou Investment Management Ltd.'s institutional profile programmatically:
REST API
curl https://alphasmo.com/api/v1/institutions/manitou-investment-management-ltdCLI
npx alphasmo institutions get manitou-investment-management-ltd