Sprucegrove Investment Management Limited

This article relies largely or entirely on a single source. (June 2019)

Sprucegrove Investment Management Ltd. was founded in 1993 and is located in Toronto, Ontario, Canada.

Sprucegrove provides investment management services on a fully discretionary basis, in the specialized area of International and Global Equities, to institutional investors in Canada, the United States, and around the world.

On the spectrum of global value investors, there is deep value at one end and quality at the other. Sprucegrove is a fundamental manager focused on quality.

Sprucegrove is bottom-up, and that’s why quality matters. Country and sector weightings are residuals of their stock-selection focus. As a result, their portfolios have high active share (typically 85% - 95%) and look different from the index.

Sprucegrove identifies strongly with Warren Buffett’s quote, “The stock market is a device for transferring money from the impatient to the patient.” They are long-term investors, with their International Equities fund having a 10-year average turnover of approximately 10%, translating to an average holding period of about 10 years.

Ultimately, we look to build high-quality portfolios at attractive valuations, which are constructed one stock at a time.