SEC 13F Intelligence

Managers / Q4 2018 · view latest →

MONTRUSCO BOLTON INVESTMENTS INC.

CIK 0001475940 · 1501 MCGILL COLLEGE AVENUE, SUITE 1200, MONTREAL, A8, H3A 3M8 · 514-842-6464

Reported Value
$1.5B
Q4 2018
Positions
66
Filings on Record
30
2019–present window
Filed
Feb 12, 2019
original filing

Summary

Montrusco Bolton Investments Inc. reported $1.5B in U.S.-listed holdings across 66 positions for Q4 2018.

Its largest position, RY, represents 7.8% of the portfolio.

Portfolio Metrics

Top-10 Concentration
+48.7%
share of reported value
Largest Position
+7.8%
Royal Bk Cda Montreal Que

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $1.5BQ4 ’18Q1 ’19: $1.6BQ2 ’19: $1.5BQ3 ’19: $1.7BQ4 ’19: $1.7BQ4 ’19Q1 ’20: $1.3BQ2 ’20: $1.7BQ3 ’20: $2.0BQ4 ’20: $2.3BQ4 ’20Q1 ’21: $3.1BQ2 ’21: $3.3BQ3 ’21: $3.7BQ4 ’21: $4.2BQ4 ’21Q1 ’22: $4.3BQ2 ’22: $3.8BQ3 ’22: $3.8BQ4 ’22: $4.3BQ4 ’22Q1 ’23: $4.8BQ2 ’23: $6.5BQ3 ’23: $6.9BQ4 ’23: $8.1BQ4 ’23Q1 ’24: $9.4BQ2 ’24: $9.5BQ3 ’24: $9.5BQ4 ’24: $8.3BQ4 ’24Q1 ’25: $7.6BQ2 ’25: $9.0BQ3 ’25: $8.6BQ4 ’25: $8.0BQ4 ’25Q1 ’26: $6.6Bfilingsflow.com

Portfolio Composition

By security type
Common Stock: 78.1%Other: 19.1%REIT: 2.8%
  • Common Stock · 78.1% · $1.2B
  • Other · 19.1% · $283M
  • REIT · 2.8% · $41M

Quarter-over-Quarter Changes full breakdown →

IssuerMoveShare ΔShares nowValue ΔValue now
RYROYAL BK CDA MONTREAL QUENEW+1.68M1.68M+$115M$115M
TDTORONTO DOMINION BK ONTNEW+2.19M2.19M+$109M$109M
BNSBANK N S HALIFAXNEW+1.78M1.78M+$89M$89M
BROOKFIELD ASSET MGMT INCNEW+1.86M1.86M+$71M$71M
TTELUS CORPNEW+2.11M2.11M+$70M$70M
LIESUN LIFE FINL INCNEW+1.81M1.81M+$60M$60M
NTRNUTRIEN LTDNEW+1.19M1.19M+$56M$56M
AQNALGONQUIN PWR UTILS CORPNEW+5.42M5.42M+$55M$55M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q4 2018

50 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1RYROYAL BK CDA MONTREAL QUEhistory →COM7.76%$115M1.68M
2TDTORONTO DOMINION BK ONThistory →COM NEW7.34%$109M2.19M
3BNSBANK N S HALIFAXhistory →COM5.98%$89M1.78M
4BROOKFIELD ASSET MGMT INCCL A LTD VT SH4.80%$71M1.86M
5TTELUS CORPhistory →COM4.71%$70M2.11M
6LIESUN LIFE FINL INChistory →COM4.04%$60M1.81M
7NTRNUTRIEN LTDhistory →COM3.77%$56M1.19M
8AQNALGONQUIN PWR UTILS CORPhistory →COM3.67%$55M5.42M
9ENBENBRIDGE INChistory →COM3.43%$51M1.64M
10BROOKFIELD INFRAST PARTNERSLP INT UNIT3.21%$48M1.38M
11BROOKFIELD PPTY PARTNERS L PUNIT LTD PARTN3.12%$46M2.88M
12FTSFORTIS INChistory →COM2.93%$44M1.31M
13BROOKFIELD RENEWABLE PARTNERPARTNERSHIP UNIT2.56%$38M1.47M
14DHRDANAHER CORP DELhistory →COM2.27%$34M329.9K
15GOOGLALPHABET INChistory →CAP STK CL A2.20%$33M31.6K
16MSFTMICROSOFT CORPhistory →COM2.14%$32M316.1K
17TRANSCANADA CORPCOM1.91%$28M796.1K
18MAMASTERCARD INCORPORATEDhistory →CL A1.90%$28M151.5K
19AMZNAMAZON COM INChistory →COM1.74%$26M17.3K
20GRANITE REAL ESTATE INVT TRUNIT 99/99/99991.58%$23M602.4K
21BNYBANK NEW YORK MELLON CORPhistory →COM1.51%$22M482.4K
22TJXTJX COS INC NEWhistory →COM1.37%$20M461.4K
23TSNTYSON FOODS INChistory →CL A1.37%$20M386.4K
24BLKCHFBLACKROCK INChistory →COM1.32%$20M50.4K
25FIRSTSERVICE CORP NEWSUB VTG SH1.26%$19M273.3K
26BIIBBIOGEN INChistory →COM1.22%$18M60.6K
27PSAPUBLIC STORAGEhistory →COM1.21%$18M89.9K
28JNJJOHNSON & JOHNSONhistory →COM1.13%$17M129.9K
29PPLPEMBINA PIPELINE CORPhistory →COM1.09%$16M547.0K
30AAPLAPPLE INChistory →COM1.05%$16M98.9K
31CMECME GROUP INChistory →COM CL A1.04%$15M83.2K
32CFRCULLEN FROST BANKERS INChistory →COM1.02%$15M172.5K
33EOGEOG RES INChistory →COM1.00%$15M170.6K
34DSGDESCARTES SYS GROUP INChistory →COM0.99%$15M559.3K
35LINDE PLCCOM0.97%$14M92.7K
36METAFACEBOOK INChistory →CL A0.91%$13M104.1K
37VAREURVARIAN MED SYS INChistory →COM0.86%$13M113.5K
38TXNTEXAS INSTRS INChistory →COM0.84%$12M132.1K
39UNPUNION PAC CORPhistory →COM0.84%$12M91.0K
40THOMSON REUTERS CORPCOM NEW0.73%$11M225.2K
41EXMOCEXXON MOBIL CORPhistory →COM0.69%$10M150.3K
42PEPPEPSICO INCCOM0.67%$10M89.8K
43AWMSKYWORKS SOLUTIONS INCCOM0.61%$9M135.9K
44ATVIEURACTIVISION BLIZZARD INCCOM0.60%$9M189.8K
45PFPTPROOFPOINT INCCOM0.50%$7M88.7K
46ELLAUDER ESTEE COS INCCL A0.49%$7M55.8K
47SBUXSTARBUCKS CORPCOM0.48%$7M110.4K
48SPGIS&P GLOBAL INCCOM0.39%$6M33.8K
49SHOPSHOPIFY INCCL A0.38%$6M41.2K
50FORTUNA SILVER MINES INCCOM0.36%$5M1.46M

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$6.6B72Apr 28, 202613F-HRchanges · EDGAR ↗
Q4 2025$8.0B73Jan 29, 202613F-HRchanges · EDGAR ↗
Q3 2025$8.6B78Nov 12, 202513F-HRchanges · EDGAR ↗
Q2 2025$9.0B75Jul 25, 202513F-HRchanges · EDGAR ↗
Q1 2025$7.6B62May 2, 202513F-HRchanges · EDGAR ↗
Q4 2024$8.3B61Jan 23, 202513F-HRchanges · EDGAR ↗
Q3 2024$9.5B62Nov 12, 202413F-HRchanges · EDGAR ↗
Q2 2024$9.5B58Jul 24, 202413F-HRchanges · EDGAR ↗
Q1 2024$9.4B58Apr 30, 202413F-HRchanges · EDGAR ↗
Q4 2023$8.1B62Feb 8, 202413F-HRchanges · EDGAR ↗
Q3 2023$6.9B62Nov 8, 202313F-HRchanges · EDGAR ↗
Q2 2023$6.5B66Aug 3, 202313F-HRchanges · EDGAR ↗
Q1 2023$4.8B63May 9, 202313F-HRchanges · EDGAR ↗
Q4 2022$4.3B66Jan 27, 202313F-HRchanges · EDGAR ↗
Q3 2022$3.8B62Nov 7, 202213F-HRchanges · EDGAR ↗
Q2 2022$3.8B61Aug 8, 202213F-HRchanges · EDGAR ↗
Q1 2022$4.3B63May 10, 202213F-HRchanges · EDGAR ↗
Q4 2021$4.2B61Feb 7, 202213F-HRchanges · EDGAR ↗
Q3 2021$3.7B63Nov 12, 202113F-HRchanges · EDGAR ↗
Q2 2021$3.3B64Aug 17, 202113F-HRchanges · EDGAR ↗
Q1 2021$3.1B64May 12, 202113F-HRchanges · EDGAR ↗
Q4 2020$2.3B59Feb 16, 202113F-HRchanges · EDGAR ↗
Q3 2020$2.0B59Nov 9, 202013F-HRchanges · EDGAR ↗
Q2 2020$1.7B62Aug 12, 202013F-HRchanges · EDGAR ↗
Q1 2020$1.3B62May 14, 202013F-HRchanges · EDGAR ↗
Q4 2019$1.7B61Feb 11, 202013F-HRchanges · EDGAR ↗
Q3 2019$1.7B63Nov 8, 201913F-HRchanges · EDGAR ↗
Q2 2019$1.5B63Aug 5, 201913F-HRchanges · EDGAR ↗
Q1 2019$1.6B65May 10, 201913F-HRchanges · EDGAR ↗
Q4 2018$1.5B66Feb 12, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.