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Montrusco Bolton Investments Inc. SEC 13F Filing (Q2 2026) — Holdings & Portfolio
Montrusco Bolton Investments Inc.CIK: 0001475940
Diversified strategyContrarianQuality / disciplined sizing
Total reported value
$6.5B
Reporting period: 2026-06-30 · Number of holdings: 80
MONTRUSCO BOLTON INVESTMENTS INC. disclosed 80 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $6.5B and a quarterly turnover rate of 30.2%.
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Personality snowflake
- Concentration
- 14.36
- Portfolio Stability
- 30.16
- Momentum
- 0
- Sector conviction
- 57.73
- Diversification
- 100
- Sizing Uniformity
- 86.23
Montrusco Bolton Investments Inc.'s disclosed holdings carry a Herfindahl concentration index of 0.036 — mathematically equivalent to about 28 equally-sized positions, well below its 80 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 1.38), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govNew buy MU
Add LRCX
-2.0% $148.7M
New buy LIN
Trim WCN
-46.5% -$124.0M
Sold out SHW
Trim ZTS
-33.3% -$111.5M
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 | NVDA | Nvidia CORP | Stock-Tech | 8.18% | -1.19% | -27.91% | |
| 2 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 6.05% | +0.08% | -22.14% | |
| 3 | MSFT | Microsoft CORP | Stock-Tech | 5.90% | -0.90% | -18.25% | |
| 4 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 5.82% | +0.23% | -13.61% | |
| 5 | JPM | Jpmorgan Chase & Co | Stock-Financials | 4.69% | -0.70% | -25.80% | |
| 6 | LRCX | Lam Research CORP | Stock-Tech | 4.51% | +2.36% | -2.02% | |
| 7 | AVGO | Broadcom Inc | Stock-Tech | 3.73% | +0.89% | +1.88% | |
| 8 | MA | Mastercard Inc - A | Stock-Financials | 3.73% | +0.15% | -4.39% | |
| 9 | MU | Micron Technology Inc | Stock-Tech | 3.65% | +3.65% | NEW | |
| 10 | MNST | Monster Beverage CORP | Stock-Consumer Staples | 3.15% | -0.03% | -28.59% | |
| 11 | DHR | Danaher CORP | Stock-Healthcare | 3.14% | -0.58% | -20.62% | |
| 12 | IDXX | Idexx Laboratories Inc | Stock-Healthcare | 3.04% | +0.21% | +8.96% | |
| 13 | META | Meta Platforms Inc-class A | Stock-Comm Services | 2.92% | -0.64% | -20.78% | |
| 14 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 2.68% | +0.22% | -28.88% | |
| 15 | APG | Api Group CORP | Stock-Industrials | 2.66% | -0.12% | -12.91% | |
| 16 | VLO | Valero Energy CORP | Stock-Energy | 2.57% | -0.93% | -31.92% | |
| 17 | WCN | Waste Connections Inc | Stock-Industrials | 2.52% | -1.82% | -46.50% | |
| 18 | APH | Amphenol Corp-cl A | Stock-Tech | 2.43% | +0.64% | -4.97% | |
| 19 | PSA | Public Storage | Stock-Real Estate | 2.16% | +0.10% | -15.33% | |
| 20 | AAPL | Apple Inc | Stock-Tech | 2.04% | -0.34% | -26.37% | |
| 21 | LIN | Linde plc | Stock-Materials | 1.95% | +1.95% | NEW | |
| 22 | UBER | Uber Technologies Inc | Stock-Industrials | 1.91% | -0.45% | -23.65% | |
| 23 | CMG | Chipotle Mexican Grill Inc | Stock-Consumer Disc | 1.63% | -0.61% | -34.95% | |
| 24 | RYAN | Ryan Specialty Holdings Inc | Stock-Financials | 1.57% | -0.43% | -33.15% | |
| 25 | SNPS | Synopsys Inc | Stock-Tech | 1.40% | -0.25% | -27.92% | |
| 26 | GEV | GE Vernova Inc | Stock-Industrials | 1.37% | +1.37% | NEW | |
| 27 | ZTS | Zoetis Inc | Stock-Healthcare | 1.24% | -1.66% | -33.30% | |
| 28 | RY | Royal Bank Of Canada | Stock-Financials | 0.81% | +0.13% | -9.06% | |
| 29 | SUNB | Sunbelt Rentals Holdings Inc | Stock-Industrials | 0.75% | -0.11% | -33.90% | |
| 30 | BLK | Blackrock Inc | Stock-Financials | 0.65% | +0.08% | +11.28% | |
| 31 | AZN | AstraZeneca PLC | Stock-Healthcare | 0.63% | +0.63% | NEW | |
| 32 | TD | Toronto-dominion Bank | Stock-Financials | 0.60% | +0.08% | -13.57% | |
| 33 | TSCO | Tractor Supply Company | Stock-Consumer Disc | 0.58% | -0.30% | -8.55% | |
| 34 | FSV | Firstservice CORP | Stock-Other | 0.56% | +0.01% | -3.47% | |
| 35 | CHD | Church & Dwight Co Inc | Stock-Consumer Staples | 0.53% | +0.53% | NEW | |
| 36 | WMT | Walmart Inc | Stock-Consumer Staples | 0.51% | -0.61% | -50.91% | |
| 37 | GIB | Cgi Inc | Stock-Tech | 0.50% | -0.08% | -4.35% | |
| 38 | TFII | Tfi International Inc | Stock-Other | 0.47% | +0.08% | -11.30% | |
| 39 | BMO | Bank Of Montreal | Stock-Financials | 0.47% | +0.05% | -16.13% | |
| 40 | BNS | Bank Of Nova Scotia | Stock-Financials | 0.41% | +0.41% | NEW | |
| 41 | BGSI | THE Boyd Group Inc | Stock-Other | 0.36% | -0.18% | -12.52% | |
| 42 | AEM | Agnico Eagle Mines LTD | Stock-Materials | 0.35% | -0.15% | -9.94% | |
| 43 | CNI | Canadian Natl Railway Co | Stock-Industrials | 0.34% | +0.04% | -5.52% | |
| 44 | ✓ | Stock-Other | 0.29% | +0.29% | NEW | ||
| 45 | BAM | Brookfield Asset Mgmt-a | Stock-Financials | 0.27% | +0.04% | +14.27% | |
| 46 | DSGX | Descartes Systems Grp/the | Stock-Tech | 0.27% | — | +2.29% | |
| 47 | WPM | Wheaton Precious Metals CORP | Stock-Materials | 0.26% | -0.13% | -22.74% | |
| 48 | DOO | Brp Inc/ca- Sub Voting | Stock-Other | 0.25% | +0.01% | +20.55% | |
| 49 | AYA | Aya Gold & Silver Inc | Stock-Other | 0.25% | +0.25% | NEW | |
| 50 | SLF | Sun Life Financial Inc | Stock-Financials | 0.24% | +0.05% | +0.02% |
1–50 of 80
Portfolio Performance
Performance for Q3 2026
+5.6%
Performance Last 4 Quarters
+14.4%
- Stdev
- +13.2%
- Beta
- +0.97
- Alpha
- -3.9%
- Max Drawdown
- -9.1%
- Annualized Perf
- +15.7%
- Batting Avg vs S&P
- +41.7%
- Sortino
- +2.25
- Stutzer
- +0.35
- Treynor
- +0.16
- Sterling
- +0.9
- Calmar
- +1.73
- Information Ratio
- -1.08
- Tracking Error
- +4.2%
- Stdev Down
- +6.9%
- Winning Months %
- +69.4%
- Losing Months %
- +30.6%
- Best 12 Months
- +27%
- Worst 12 Months
- -0.4%
- Efficiency Ratio
- +0.48
- Sharpe
- +1.17
- Stdev Sectors
- +9.6%
- Skewness
- +0.16
- Kurtosis
- +0.18
- Upside Potential
- +3.87
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 80 | $6.5B | 30 | ||
| 2026 Q1 | 72 | $6.6B | 37 | ||
| 2025 Q4 | 73 | $8.0B | 22 | ||
| 2025 Q3 | 78 | $8.6B | 40 | ||
| 2025 Q2 | 75 | $9.0B | 0 | ||
| 2025 Q1 | 62 | $7.6B | 100 | ||
| 2024 Q4 | 61 | $8.3B | 0 | ||
| 2024 Q3 | 62 | $9.5B | 0 | ||
| 2024 Q2 | 58 | $9.5B | 0 | ||
| 2024 Q1 | 58 | $9.4B | 0 | ||
| 2023 Q4 | 62 | $8.1B | 0 | ||
| 2023 Q3 | 62 | $6.9B | 0 | ||
| 2023 Q2 | 66 | $6.5B | 0 | ||
| 2023 Q1 | 63 | $4.8B | 0 | ||
| 2022 Q4 | 66 | $4.3B | 0 | ||
| 2022 Q3 | 62 | $3.8B | 0 | ||
| 2022 Q2 | 61 | $3.8B | 0 | ||
| 2022 Q1 | 63 | $4.3B | 0 | ||
| 2021 Q4 | 61 | $4.2B | 0 | ||
| 2021 Q3 | 63 | $3.7B | 0 | ||
| 2021 Q2 | 64 | $3.3B | 27 | ||
| 2021 Q1 | 64 | $3.1B | 41 | ||
| 2020 Q4 | 59 | $2.3B | 37 | ||
| 2020 Q3 | 59 | $2.0B | 17 | ||
| 2020 Q2 | 62 | $1.7B | 55 | ||
| 2020 Q1 | 62 | $1.3B | 68 | ||
| 2019 Q4 | 61 | $1.7B | 17 | ||
| 2019 Q3 | 63 | $1.7B | 30 | ||
| 2019 Q2 | 63 | $1.5B | 26 | ||
| 2019 Q1 | 65 | $1.6B | 34 | ||
| 2018 Q4 | 66 | $1.5B | 39 | ||
| 2018 Q3 | 63 | $1.6B | 25 | ||
| 2018 Q2 | 63 | $1.4B | 15 | ||
| 2018 Q1 | 60 | $1.4B | 49 | ||
| 2017 Q4 | 67 | $1.8B | 21 | ||
| 2017 Q3 | 67 | $1.9B | 24 | ||
| 2017 Q2 | 89 | $1.8B | 18 | ||
| 2017 Q1 | 73 | $1.8B | 29 | ||
| 2016 Q4 | 73 | $1.8B | 34 | ||
| 2016 Q3 | 76 | $1.6B | 29 | ||
| 2016 Q2 | 88 | $1.6B | 54 | ||
| 2016 Q1 | 89 | $1.2B | 36 | ||
| 2015 Q4 | 76 | $1.2B | 34 | ||
| 2015 Q3 | 73 | $1.2B | 26 | ||
| 2015 Q2 | 72 | $1.3B | 32 | ||
| 2015 Q1 | 90 | $1.4B | 32 | ||
| 2014 Q4 | 85 | $1.4B | 34 | ||
| 2014 Q3 | 79 | $1.5B | 37 | ||
| 2014 Q2 | 83 | $1.6B | 36 | ||
| 2014 Q1 | 85 | $1.4B | 41 | ||
| 2013 Q4 | 81 | $1.4B | 29 | ||
| 2013 Q3 | 86 | $1.3B | 24 | ||
| 2013 Q2 | 86 | $1.2B | 0 |
Holding changes this quarter
Montrusco Bolton Investments Inc.'s most significant position changes for 2026-06-30: New buy: Micron Technology Inc (MU); New buy: Linde plc (LIN); Sold out: Sherwin-williams Co/the (SHW); New buy: GE Vernova Inc (GEV); New buy: AstraZeneca PLC (AZN).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | MU | Micron Technology Inc | +3.7% | NEW | New buy |
| 2 | LRCX | Lam Research CORP | +2.4% | -2.02% | Trim |
| 3 | LIN | Linde plc | +2% | NEW | New buy |
| 4 | GEV | GE Vernova Inc | +1.4% | NEW | New buy |
| 5 | AVGO | Broadcom Inc | +0.9% | +1.88% | Add |
| 6 | APH | Amphenol Corp-cl A | +0.6% | -4.97% | Trim |
| 7 | AZN | AstraZeneca PLC | +0.6% | NEW | New buy |
| 8 | CHD | Church & Dwight Co Inc | +0.5% | NEW | New buy |
| 9 | BNS | Bank Of Nova Scotia | +0.4% | NEW | New buy |
| 10 | ✓ | +0.3% | NEW | New buy | |
| 11 | AYA | Aya Gold & Silver Inc | +0.3% | NEW | New buy |
| 12 | AMZN | Amazon.com Inc | +0.2% | -13.61% | Trim |
| 13 | TSM | Taiwan Semiconductor-sp Adr | +0.2% | -28.88% | Trim |
| 14 | IDXX | Idexx Laboratories Inc | +0.2% | +8.96% | Add |
| 15 | MA | Mastercard Inc - A | +0.2% | -4.39% | Trim |
| 16 | RY | Royal Bank Of Canada | +0.1% | -9.06% | Trim |
| 17 | PSA | Public Storage | +0.1% | -15.33% | Trim |
| 18 | CGAU | Centerra Gold Inc | +0.1% | NEW | New buy |
| 19 | TFII | Tfi International Inc | +0.1% | -11.30% | Trim |
| 20 | TD | Toronto-dominion Bank | +0.1% | -13.57% | Trim |
| 21 | BLK | Blackrock Inc | +0.1% | +11.28% | Add |
| 22 | GOOGL | Alphabet Inc-cl A | +0.1% | -22.14% | Trim |
| 23 | SLF | Sun Life Financial Inc | +0.1% | +0.02% | Add |
| 24 | BMO | Bank Of Montreal | +0.1% | -16.13% | Trim |
| 25 | BAM | Brookfield Asset Mgmt-a | 0% | +14.27% | Add |
| 26 | OTEX | Open Text CORP | 0% | +48.38% | Add |
| 27 | CNI | Canadian Natl Railway Co | 0% | -5.52% | Trim |
| 28 | SE | Sea Ltd-adr | 0% | NEW | New buy |
| 29 | CBZ | Cbiz Inc | 0% | +0.65% | Add |
| 30 | AER | AerCap Holdings N.V. | 0% | NEW | New buy |
| 31 | EFXT | Enerflex LTD | 0% | NEW | New buy |
| 32 | DOO | Brp Inc/ca- Sub Voting | 0% | +20.55% | Add |
| 33 | POOL | Pool CORP | 0% | — | Unchanged |
| 34 | FSV | Firstservice CORP | 0% | -3.47% | Trim |
| 35 | PBA | Pembina Pipeline CORP | 0% | -0.12% | Trim |
| 36 | BN | Brookfield CORP | 0% | -0.13% | Trim |
| 37 | CNM | Core & Main Inc-class A | 0% | +0.60% | Add |
| 38 | SPSC | Sps Commerce Inc | 0% | — | Unchanged |
| 39 | LSPD | Lightspeed Commerce Inc | 0% | — | Unchanged |
| 40 | USAS | Americas Gold And Silver Cor | — | -9.65% | Trim |
| 41 | DSGX | Descartes Systems Grp/the | — | +2.29% | Add |
| 42 | MDA | Mda Space LTD | — | -39.21% | Trim |
| 43 | RBA | Rb Global Inc | — | -18.08% | Trim |
| 44 | CP | Canadian Pacific Kansas City | — | +1.43% | Add |
| 45 | PG | Procter & Gamble Co/the | — | — | Unchanged |
| 46 | CCJ | Cameco CORP | 0% | -3.82% | Trim |
| 47 | ITRG | Integra Resources CORP | 0% | +5.62% | Add |
| 48 | EQX | Equinox Gold CORP | 0% | -0.91% | Trim |
| 49 | UFPT | Ufp Technologies Inc | 0% | EXIT | Sold out |
| 50 | SHOP | Shopify Inc - Class A | 0% | -10.41% | Trim |
1–50 of 84
Filing History
FAQ
What is Montrusco Bolton Investments Inc. and what type of investor is it?
Montrusco Bolton Investments Inc. 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 $6.5B, spread across 80 disclosed positions.
What are Montrusco Bolton Investments Inc.'s largest equity positions?
Based on the latest 13F filing, Montrusco Bolton Investments Inc.'s top holdings by market value are:
1. Nvidia CORP (NVDA) — $527.8M (8.2%)
2. Alphabet Inc-cl A (GOOGL) — $390.8M (6.0%)
3. Microsoft CORP (MSFT) — $381.0M (5.9%)
4. Amazon.com Inc (AMZN) — $375.7M (5.8%)
5. Jpmorgan Chase & Co (JPM) — $302.7M (4.7%)
What changes did Montrusco Bolton Investments Inc. make in its most recent portfolio filing?
In the latest reported quarter, Montrusco Bolton Investments Inc. made 80 notable position adjustments: 12 new positions were initiated, 13 existing holdings were added to, 51 positions were partially reduced, and 4 were completely exited. The largest of these moves: New buy: Micron Technology Inc (MU); New buy: Linde plc (LIN); Sold out: Sherwin-williams Co/the (SHW); New buy: GE Vernova Inc (GEV); New buy: AstraZeneca PLC (AZN)
What sectors does Montrusco Bolton Investments Inc. focus on?
Montrusco Bolton Investments Inc. is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 36.7%
• Financials: 14.0%
• Industrials: 10.4%
• Communication Services: 9.3%
• Consumer Discretionary: 8.5%
• Health Care: 8.3%
Investment Profile
Montrusco Bolton Investments Inc. returned an annualized 15.7% over the trailing 36 months — underperforming the S&P 500 by 3.9 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.97 (roughly in line with the market) and a 42% quarterly batting average against the index.
Its portfolio is broadly diversified and moderately active, with 36.7% of the portfolio concentrated in Information Technology.
Its turnover score has risen from 0 to 30 over the past 4 quarters — a shift toward more active trading.
It has added to its LRCX position over the past two quarters (+$186.7M, now $291.0M), while trimming MSFT over the same stretch (-$378.4M, still holding $381.0M).
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