Latest MONTRUSCO BOLTON INVESTMENTS INC. Stock Portfolio

MONTRUSCO BOLTON INVESTMENTS INC. Performance:

2025 Q4: 0.59%YTD: 14.47%2024: 9.19%

Performance for 2025 Q4 is 0.59%, and YTD is 14.47%, and 2024 is 9.19%.

About MONTRUSCO BOLTON INVESTMENTS INC. and 13F Hedge Fund Stock Holdings

MONTRUSCO BOLTON INVESTMENTS INC. is a hedge fund based in Canada. On 2026-01-29, the fund reported it's updated stock portfolio. In the 13F Holdings report, MONTRUSCO BOLTON INVESTMENTS INC. reported an equity portfolio of $8 Billions as of 31 Dec, 2025.

The top stock holdings of MONTRUSCO BOLTON INVESTMENTS INC. are MSFT, NVDA, GOOG. The fund has invested 9.5% of it's portfolio in MICROSOFT CORP and 9% of portfolio in NVIDIA CORPORATION.

The fund managers got completely rid off ELI LILLY & CO (LLY), SYSCO CORP (SYY) and OR ROYALTIES INC. stocks. They significantly reduced their stock positions in CANADIAN PACIFIC KANSAS CITY (CP), ENBRIDGE INC (ENB) and ROLLINS INC (ROL). MONTRUSCO BOLTON INVESTMENTS INC. opened new stock positions in BROADCOM INC (AVGO), ORLA MNG LTD NEW and OPEN TEXT CORP (OTEX). The fund showed a lot of confidence in some stocks as they added substantially to ZOETIS INC (ZTS), API GROUP CORP (APG) and FIRSTSERVICE CORP NEW.

MONTRUSCO BOLTON INVESTMENTS INC. Annual Return Estimates Vs S&P 500

Our best estimate is that MONTRUSCO BOLTON INVESTMENTS INC. made a return of 0.59% in the last quarter. In trailing 12 months, it's portfolio return was 14.47%.

Performance
S&P 500

New Buys

Ticker	$ Bought
broadcom inc	98,894,600
orla mng ltd new	14,430,500
cameco corp	8,817,270
open text corp	7,139,540
equinox gold corp	2,241,400

New stocks bought by MONTRUSCO BOLTON INVESTMENTS INC.

Additions

Ticker	% Inc.
zoetis inc	256
api group corp	110
firstservice corp new	89.41
brookfield wealth sol ltd	74.78
brookfield corp	60.47
descartes sys group inc	50.62
tractor supply co	28.49
sps comm inc	28.2

Additions to existing portfolio by MONTRUSCO BOLTON INVESTMENTS INC.

Reductions

Ticker	% Reduced
canadian pacific kansas city	-87.6
enbridge inc	-71.39
rollins inc	-48.97
procter and gamble co	-37.37
ufp technologies inc	-36.79
lam research corp	-35.72
ero copper corp	-33.42
sun life financial inc.	-32.75

MONTRUSCO BOLTON INVESTMENTS INC. reduced stake in above stock

Sold off

Ticker	$ Sold
americas gold and silver cor	-9,953,840
new gold inc cda	-9,542,140
sysco corp	-40,345,100
telus corporation	-7,487,410
or royalties inc.	-13,348,000
brookfield infrast partners	-4,559,300
sandstorm gold ltd	-1,459,790
eli lilly & co	-53,706,800

MONTRUSCO BOLTON INVESTMENTS INC. got rid off the above stocks

Sector Distribution

MONTRUSCO BOLTON INVESTMENTS INC. has about 31% of it's holdings in Technology sector.

Sector	%
Technology	31
Others	13
Consumer Cyclical	10.5
Communication Services	10.3
Financial Services	9.3
Healthcare	8.8
Industrials	7
Consumer Defensive	4.2
Energy	2.3
Real Estate	2
Basic Materials	1.5

Market Cap. Distribution

MONTRUSCO BOLTON INVESTMENTS INC. has about 85% of it's portfolio invested in the large-cap and mega-cap stocks.

Category	%
MEGA-CAP	47.4
LARGE-CAP	37.6
UNALLOCATED	13
MID-CAP	1.9

Stocks belong to which Index?

About 76.7% of the stocks held by MONTRUSCO BOLTON INVESTMENTS INC. either belong to S&P 500 or RUSSELL 2000 index.

Index	%
S&P 500	75
Others	23.2
RUSSELL 2000	1.7

Top 5 Winners (%)		%
	ero copper corp	33.2 %
	taseko mines ltd	31.1 %
GOOG	alphabet inc	27.0 %
	eldorado gold corp new	24.1 %
LRCX	lam research corp	22.2 %

Top 5 Winners ($)		$
GOOG	alphabet inc	127.3 M
DHR	danaher corporation	45.5 M
MNST	monster beverage corp new	31.3 M
LRCX	lam research corp	28.3 M
AMZN	amazon com inc	24.8 M

Top 5 Losers (%)		%
	brookfield corp	-28.6 %
	brookfield wealth sol ltd	-27.7 %
POOL	pool corp	-24.5 %
UBER	uber technologies inc	-15.7 %
	firstservice corp new	-14.6 %

Top 5 Losers ($)		$
MSFT	microsoft corp	-58.5 M
UBER	uber technologies inc	-37.8 M
META	meta platforms inc	-36.6 M
ZTS	zoetis inc	-32.2 M
	blackrock inc	-25.6 M

MONTRUSCO BOLTON INVESTMENTS INC. Holdings Map

This heatmap illustrates the top 50 positions within the fund's portfolio.

Current Stock Holdings of MONTRUSCO BOLTON INVESTMENTS INC.

MONTRUSCO BOLTON INVESTMENTS INC. has 73 stocks in it's portfolio. About 54.3% of the portfolio is in top 10 stocks. MSFT proved to be the most loss making stock for the portfolio. GOOG was the most profitable stock for MONTRUSCO BOLTON INVESTMENTS INC. last quarter.

Last Reported on: 29 Jan, 2026

Ticker	Namesorted ascending	% Portfolio	Shares Held	$ Value	Type	% Change
AAPL	apple inc	2.69	793,410	215,696,000	reduced	-14.96

ADBE	adobe inc	1.34	318,040	107,207,000	reduced	-12.33

AMZN	amazon com inc	5.96	2,124,960	478,201,000	reduced	-10.28

APG	api group corp	1.44	3,090,160	115,314,000	added	110

AVGO	broadcom inc	1.23	285,740	98,894,600	new

CAE	cae inc	0.22	565,500	17,219,700	unchanged	0.00

CBZ	cbiz inc	0.19	295,121	14,888,900	added	6.61

CMG	chipotle mexican grill inc	2.37	5,289,270	190,251,000	reduced	-18.03

CNM	core & main inc	0.11	171,615	8,918,830	added	2.39

CP	canadian pacific kansas city	0.00	2,755	203,095	reduced	-87.6

DHR	danaher corporation	4.01	1,444,570	321,478,000	reduced	-10.36

DSGX	descartes sys group inc	0.21	192,740	16,930,700	added	50.62

ENB	enbridge inc	0.08	139,459	6,682,230	reduced	-71.39

FTNT	fortinet inc	1.22	1,228,780	97,577,700	reduced	-0.66

GOOG	alphabet inc	6.64	1,738,860	533,203,000	reduced	-12.21

IDXX	idexx labs inc	1.46	176,932	117,091,000	reduced	-23.83

JPM	jpmorgan chase & co.	3.90	1,005,430	313,328,000	reduced	-26.59

LLY	eli lilly & co	0.00	0.00	0.00	sold off	-100

LRCX	lam research corp	1.30	626,819	104,227,000	reduced	-35.72

LSPD	lightspeed commerce inc	0.01	39,000	471,158	unchanged	0.00