SEC 13F Intelligence

Managers / Q3 2019 · view latest →

MONTRUSCO BOLTON INVESTMENTS INC.

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

Reported Value
$1.7B
Q3 2019
Positions
63
Filings on Record
30
2019–present window
Filed
Nov 8, 2019
original filing

Summary

Montrusco Bolton Investments Inc. reported $1.7B in U.S.-listed holdings across 63 positions for Q3 2019.

Its largest position, RY, represents 7.1% of the portfolio.

Compared with Q2 2019, the fund opened 2 new positions and exited 2.

Portfolio Metrics

Turnover
+10.1%
vs prior filed quarter
Top-10 Concentration
+46.5%
share of reported value
Largest Position
+7.1%
Royal Bk Cda Montreal Que
New / Exited
2 / 2
positions this quarter

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: 80.8%Other: 15.1%REIT: 4.1%
  • Common Stock · 80.8% · $1.4B
  • Other · 15.1% · $256M
  • REIT · 4.1% · $70M

Quarter-over-Quarter Changes full breakdown →

vs Q2 2019 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
IBKRINTERACTIVE BROKERS GROUP INNEW+292.4K292.4K+$14M$14M
NFLXNETFLIX INCNEW+40.5K40.5K+$11M$11M
PFEPFIZER INCADDED+35.2K43.1K+$1M$2M
PPLPEMBINA PIPELINE CORPADDED+920.2K1.24M+$32M$44M
TRPTC ENERGY CORPADDED+492.5K751.2K+$25M$38M
BROOKFIELD PROPERTY PARTRS LADDED+596.4K980.0K+$11M$19M
VAREURVARIAN MED SYS INCADDED+82.9K142.7K+$9M$17M
IEXIDEX CORPADDED+64.6K127.3K+$9M$19M

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

Holdings — Q3 2019

50 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1RYROYAL BK CDA MONTREAL QUEhistory →COM7.08%$120M1.49M
2TDTORONTO DOMINION BK ONThistory →COM NEW6.74%$114M2.00M
3BROOKFIELD ASSET MGMT INCCL A LTD VT SH5.85%$99M1.79M
4BNSBANK N S HALIFAXhistory →COM4.92%$84M1.45M
5BCEBCE INChistory →COM NEW4.74%$80M1.69M
6TTELUS CORPhistory →COM4.28%$73M2.04M
7BROOKFIELD INFRAST PARTNERSLP INT UNIT3.46%$59M1.17M
8ENBENBRIDGE INChistory →COM3.39%$57M1.57M
9MSFTMICROSOFT CORPhistory →COM3.28%$56M399.0K
10DHRDANAHER CORPORATIONhistory →COM2.72%$46M339.5K
11PPLPEMBINA PIPELINE CORPhistory →COM2.58%$44M1.24M
12MAMASTERCARD INChistory →CL A2.39%$40M150.6K
13GRANITE REAL ESTATE INVT TRUNIT 99/99/99992.26%$38M771.7K
14GOOGLALPHABET INChistory →CAP STK CL A2.25%$38M31.3K
15TRPTC ENERGY CORPhistory →COM2.24%$38M751.2K
16BROOKFIELD RENEWABLE PARTNERPARTNERSHIP UNIT2.17%$37M862.0K
17AMZNAMAZON COM INChistory →COM2.07%$35M20.5K
18PSAPUBLIC STORAGEhistory →COM1.88%$32M146.7K
19TJXTJX COS INC NEWhistory →COM1.81%$31M544.9K
20PEPPEPSICO INChistory →COM1.76%$30M218.0K
21AAPLAPPLE INChistory →COM1.70%$29M116.2K
22BLKCHFBLACKROCK INChistory →COM1.68%$29M63.4K
23BIIBBIOGEN INChistory →COM1.54%$26M89.2K
24FTSFORTIS INChistory →COM1.49%$25M607.8K
25AQNALGONQUIN PWR UTILS CORPhistory →COM1.40%$24M1.73M
26FSVFIRSTSERVICE CORP NEWhistory →COM1.29%$22M249.7K
27LIESUN LIFE FINL INChistory →COM1.23%$21M462.3K
28LINDE PLCSHS1.22%$21M106.7K
29CMECME GROUP INChistory →COM1.21%$20M102.5K
30METAFACEBOOK INChistory →CL A1.13%$19M102.4K
31IEXIDEX CORPhistory →COM1.13%$19M127.3K
32BNYBANK NEW YORK MELLON CORPhistory →COM1.11%$19M409.3K
33BROOKFIELD PROPERTY PARTRS LUNIT LTD PARTN1.09%$19M980.0K
34PFPTPROOFPOINT INChistory →COM1.04%$18M153.0K
35VAREURVARIAN MED SYS INChistory →COM1.02%$17M142.7K
36CFRCULLEN FROST BANKERS INChistory →COM0.97%$16M182.4K
37DSGDESCARTES SYS GROUP INChistory →COM0.92%$16M399.4K
38BKNGBOOKING HLDGS INChistory →COM0.92%$16M7.6K
39ELLAUDER ESTEE COS INChistory →CL A0.88%$15M80.2K
40AWMSKYWORKS SOLUTIONS INChistory →COM0.81%$14M158.2K
41IBKRINTERACTIVE BROKERS GROUP INhistory →COM CL A0.80%$14M292.4K
42THOMSON REUTERS CORPCOM NEW0.78%$13M196.6K
43ATVIEURACTIVISION BLIZZARD INChistory →COM0.74%$13M224.7K
44JNJJOHNSON & JOHNSONhistory →COM0.74%$13M95.3K
45EXMOCEXXON MOBIL CORPhistory →COM0.73%$12M182.8K
46TXNTEXAS INSTRS INChistory →COM0.70%$12M100.6K
47EOGEOG RES INChistory →COM0.67%$11M164.0K
48NFLXNETFLIX INChistory →COM0.67%$11M40.5K
49NTRNUTRIEN LTDCOM0.48%$8M169.2K
50CIGIEURCOLLIERS INTL GROUP INCSUB VTG SHS0.45%$8M113.1K

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 ↗.