SEC 13F Intelligence

Managers / Q4 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
Q4 2019
Positions
61
Filings on Record
30
2019–present window
Filed
Feb 11, 2020
original filing

Summary

Montrusco Bolton Investments Inc. reported $1.7B in U.S.-listed holdings across 61 positions for Q4 2019.

Its largest position, TD, represents 6.9% of the portfolio.

Compared with Q3 2019, the fund opened 1 new position and exited 3.

Portfolio Metrics

Turnover
+7.5%
vs prior filed quarter
Top-10 Concentration
+45.6%
share of reported value
Largest Position
+6.9%
Toronto Dominion Bk Ont
New / Exited
1 / 3
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: 82.4%Other: 13.6%REIT: 4.0%
  • Common Stock · 82.4% · $1.4B
  • Other · 13.6% · $236M
  • REIT · 4.0% · $69M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2019 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
XYLXYLEM INCNEW+78.0K78.0K+$6M$6M
QCOMQUALCOMM INCADDED+313.7K332.1K+$28M$29M
THOMSON REUTERS CORPADDED+277.1K473.7K+$21M$34M
GGGGRACO INCSOLD OUT−128.8K0−$6M$0
CHUBB LIMITEDSOLD OUT−35.8K0−$5M$0
MGAMAGNA INTL INCSOLD OUT−6.6K0−$354,000$0
IBKRINTERACTIVE BROKERS GROUP INADDED+249.4K541.8K+$11M$24M
NFLXNETFLIX INCADDED+30.2K70.7K+$11M$22M

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

Holdings — Q4 2019

50 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1TDTORONTO DOMINION BK ONThistory →COM NEW6.86%$119M2.12M
2RYROYAL BK CDA MONTREAL QUEhistory →COM6.39%$111M1.40M
3BNSBANK N S HALIFAXhistory →COM5.76%$100M1.77M
4BROOKFIELD ASSET MGMT INCCL A LTD VT SH5.36%$93M1.61M
5TTELUS CORPhistory →COM4.51%$78M2.02M
6BCEBCE INChistory →COM NEW4.47%$78M1.68M
7MSFTMICROSOFT CORPhistory →COM3.31%$57M377.6K
8ENBENBRIDGE INChistory →COM3.27%$57M1.43M
9DHRDANAHER CORPORATIONhistory →COM2.96%$51M344.8K
10BROOKFIELD INFRAST PARTNERSLP INT UNIT2.68%$47M930.5K
11FTSFORTIS INChistory →COM2.53%$44M1.06M
12MAMASTERCARD INChistory →CL A2.51%$44M152.0K
13GRANITE REAL ESTATE INVT TRUNIT 99/99/99992.26%$39M770.7K
14PPLPEMBINA PIPELINE CORPhistory →COM2.03%$35M948.9K
15AMZNAMAZON COM INChistory →COM2.03%$35M19.8K
16TRPTC ENERGY CORPhistory →COM2.00%$35M650.9K
17THOMSON REUTERS CORPCOM NEW1.95%$34M473.7K
18AAPLAPPLE INChistory →COM1.79%$31M105.9K
19PSAPUBLIC STORAGEhistory →COM1.74%$30M147.4K
20QCOMQUALCOMM INChistory →COM1.69%$29M332.1K
21PEPPEPSICO INChistory →COM1.64%$28M208.2K
22TJXTJX COS INC NEWhistory →COM1.54%$27M454.9K
23BROOKFIELD RENEWABLE PARTNERPARTNERSHIP UNIT1.45%$25M541.4K
24METAFACEBOOK INChistory →CL A1.45%$25M127.6K
25FSVFIRSTSERVICE CORP NEWhistory →COM1.44%$25M268.8K
26VAREURVARIAN MED SYS INChistory →COM1.41%$25M172.9K
27IBKRINTERACTIVE BROKERS GROUP INhistory →COM CL A1.41%$24M541.8K
28AQNALGONQUIN PWR UTILS CORPhistory →COM1.37%$24M1.68M
29GOOGLALPHABET INChistory →CAP STK CL A1.28%$22M16.6K
30PFPTPROOFPOINT INChistory →COM1.27%$22M195.2K
31NFLXNETFLIX INChistory →COM1.26%$22M70.7K
32LIESUN LIFE FINL INChistory →COM1.20%$21M455.8K
33CMECME GROUP INChistory →COM1.19%$21M107.7K
34BLKCHFBLACKROCK INChistory →COM1.19%$21M42.2K
35LINDE PLCSHS1.18%$20M98.0K
36IEXIDEX CORPhistory →COM1.16%$20M121.9K
37BNYBANK NEW YORK MELLON CORPhistory →COM1.15%$20M408.0K
38BKNGBOOKING HLDGS INChistory →COM1.02%$18M8.6K
39TXNTEXAS INSTRS INChistory →COM0.99%$17M139.4K
40CFRCULLEN FROST BANKERS INChistory →COM0.94%$16M166.2K
41ELLAUDER ESTEE COS INChistory →CL A0.87%$15M73.1K
42BIIBBIOGEN INChistory →COM0.77%$13M46.4K
43EOGEOG RES INChistory →COM0.74%$13M154.4K
44JNJJOHNSON & JOHNSONhistory →COM0.73%$13M86.8K
45BROOKFIELD PROPERTY PARTRS LUNIT LTD PARTN0.72%$12M679.6K
46ATVIEURACTIVISION BLIZZARD INChistory →COM0.70%$12M204.7K
47EXMOCEXXON MOBIL CORPhistory →COM0.67%$12M167.9K
48DSGDESCARTES SYS GROUP INChistory →COM0.64%$11M260.2K
49CIGIEURCOLLIERS INTL GROUP INCSUB VTG SHS0.51%$9M113.5K
50NTRNUTRIEN LTDCOM0.46%$8M168.3K

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 ↗.