Mawer Investment Management Ltd.

CIK

1538449

Location

CALGARY, A0

Portfolio Value

Small $223,777,075

Diversification

Diversified

Filing Date

Global Rank

#300 / 7,976 ▼ 19

Top Industry

Insurance Brokers 11.4%

3Y Alpha vs SPY

-17.5%

Period ended 9 months ago

Filed Nov 12, 2025 · 7mo

23 quarters · since Mar 2020

Clone Performance

Jun 2023–Jun 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+10.3%

SPY

+76.5%

Annualised alpha

-17.5%

Max drawdown

−15.0%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

107 positions · as of Sep 30, 2025 · Δ vs Jun 30, 2025

Top Position

7.8%

−0.1 pts

Top 5

28.2%

−1.9 pts

Top 10

45.9%

−1.4 pts

HHI

296

Diversified−9

Portfolio Trend

23 quarters · across all stocks

Sector Breakdown

As of Sep 30, 2025

Sector	% Portfolio	Value	Positions
Financial Services	28.8%	$5,082,142,483	25
Technology	21.1%	$3,717,243,298	24
Industrials	14.8%	$2,618,386,308	17
Healthcare	12.3%	$2,174,681,922	16
Consumer Cyclical	12.0%	$2,111,044,600	11
Communication Services	5.5%	$963,142,008	6
Energy	1.8%	$321,937,646	1
Basic Materials	1.4%	$245,346,247	2
Consumer Defensive	1.3%	$223,777,075	3
Utilities	1.1%	$192,108,382	2

Last Quarter's Activity

Export CSV

Sep 30, 2025 vs Jun 30, 2025

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
ICE	Intercontinental Exchange, Inc.	+1,586,620	2,472,366	$416,544,222
HDB	Hdfc Bank Ltd	+1,560,407	2,968,430	$101,401,568
ATR	Aptargroup, Inc.	+1,358,269	2,759,026	$368,771,414
WAT	Waters Corp /De/	+1,074,449	1,551,010	$465,008,307
CME	Cme Group Inc.	+777,571	1,502,752	$406,028,562
BDX	Becton Dickinson & Co	+623,844	1,066,006	$156,858,732
AER	AerCap Holdings N.V.	+543,465	2,093,694	$253,336,974
SII	Sprott Inc.	+539,940	1,269,829	$105,637,074
AMZN	Amazon Com Inc	+516,207	4,485,987	$984,988,164
ABNB	Airbnb, Inc.	+481,888	556,924	$67,621,711
NOVT	Novanta Inc	+358,941	391,148	$39,173,472
OSIS	Osi Systems Inc	+343,727	856,383	$213,444,898
V	Visa Inc.	+238,872	2,352,766	$803,187,256
MA	Mastercard Inc	+230,110	512,182	$291,334,242
CASH	Pathward Financial, Inc.	+91,066	346,061	$25,611,974
TXN	Texas Instruments Inc	+88,640	458,826	$84,300,100
ITT	Itt Inc.	+76,841	402,919	$72,025,800
FOUR	Shift4 Payments, Inc.	+71,489	178,318	$13,801,813
ABT	Abbott Laboratories	+70,122	1,255,780	$168,199,173
NVDA	Nvidia Corp	+54,890	56,890	$10,614,536
ELV	Elevance Health, Inc.	+48,118	186,657	$60,312,609
SPGI	S&P Global Inc.	+36,078	168,229	$81,878,736
ZTS	Zoetis Inc.	+33,022	326,602	$47,788,404
IBKR	Interactive Brokers Group, Inc.	+8,748	460,796	$31,707,372
MUSA	Murphy USA Inc.	+7,515	39,217	$15,226,392
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
WMG	Warner Music Group Corp.	−7,058,998	314,052	$10,696,611
YUMC	Yum China Holdings, Inc.	−3,133,137	636,728	$27,328,365
NSP	Insperity, Inc.	−2,216,903	2,623,279	$129,065,326
TME	Tencent Music Entertainment Group	−1,763,667	8,382,139	$195,639,124
APH	Amphenol Corp /De/	−1,517,720	5,910,383	$731,409,895
UNH	Unitedhealth Group Inc	−907,064	152,305	$52,590,916
MRSH	Marsh & Mclennan Companies, Inc.	−802,248	4,572,623	$921,520,712
AON	Aon plc	−473,444	2,498,089	$890,768,575
FCN	Fti Consulting, Inc	−470,522	3,345,655	$540,825,130
VVV	Valvoline Inc	−418,335	2,260,543	$81,176,099
CDW	CDW Corp	−282,067	2,360,301	$375,948,743
MSFT	Microsoft Corp	−224,789	2,648,023	$1,371,543,512
VZ	Verizon Communications Inc	−217,591	4,060,223	$178,446,800
DFIN	Donnelley Financial Solutions, Inc.	−210,757	863,629	$44,416,439
ACN	Accenture plc	−176,739	475,042	$117,145,356
MEDP	Medpace Holdings, Inc.	−170,658	646,774	$332,545,319
BWXT	BWX Technologies, Inc.	−99,902	800,547	$147,596,850
SHEL	Shell plc	−89,758	4,500,736	$321,937,646
CPAY	Corpay, Inc.	−74,157	742,334	$213,836,731
POOL	Pool Corp	−73,774	424,570	$131,646,419
SHW	Sherwin Williams Co	−73,269	199,990	$69,248,537
PAYX	Paychex Inc	−69,365	338,331	$42,886,837
JPM	Jpmorgan Chase & Co	−67,730	1,174,239	$370,390,207
VRSK	Verisk Analytics, Inc.	−62,716	292,566	$73,583,274
DE	Deere & Co	−57,119	502,298	$229,680,783
No positions match the current search.

New Positions

Positions the filer opened this quarter

6 positions

Ticker	Company	Shares	Value
WFC	Wells Fargo & Company/Mn	1,755,728	$147,165,120
UBER	Uber Technologies, Inc	756,430	$74,107,446
NU	Nu Holdings Ltd.	676,400	$10,829,164
BUR	Burford Capital Ltd	678,384	$8,113,472
ORCL	Oracle Corp	850	$239,054
RY	Royal Bank Of Canada	1,495	$220,243
No positions match the current search.

Sold Out

Positions the filer fully exited

7 positions

Ticker	Company	Shares	Value
LULU	lululemon athletica inc.	1,359,440	$322,975,754
TNET	Trinet Group, Inc.	2,806,573	$205,272,748
RHI	Robert Half Inc.	3,942,158	$161,825,585
ICLR	Icon PLC	265,985	$38,687,518
SNA	Snap-on Inc	101,663	$31,635,492
DHI	Horton D R Inc /De/	95,106	$12,261,065
MAR	Marriott International Inc /Md/	24,704	$6,749,379
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

3 positions · $223,777,075 total · Consumer Defensive only · as of Sep 30, 2025

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Technology Utilities

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
PG	PROCTER & GAMBLE Co Consumer Defensive	Reduced	950,490	-42,324	$146,042,788	−7.7%	65.26%
HSY	Hershey Co Consumer Defensive	Reduced	244,995	-10,646	$45,826,314	+8.0%	20.48%
MKC	Mccormick & Co Inc Consumer Defensive	Reduced	476,879	-4,634	$31,907,973	−12.6%	14.26%