Manitou Investment Management Ltd.
Long book
$505.6M
Q1 2026
Positions
52
Top-10 weight
89%
concentration
Last quarter
+11.1%
SPY +14.8%
Turnover
11%
of book per quarter
Strategy in plain words
auto-generated from filingsManitou Investment Management Ltd. is a concentrated fundamental stock-picker, running a $505.6M US long book across 52 positions.
The portfolio is extremely concentrated — the top 10 positions are almost the whole book. Turnover is modest: positions are typically held for years. Current anchor positions: BERKSHIRE HATHAWAY INC-CL B, ALPHABET INC-CL A, AMAZON.COM INC, MICROSOFT CORP, ROPER TECHNOLOGIES INC.
Over the last 9 quarters its long book ran on average 1.5pp per quarter behind the S&P 500, beating the index in 4 of 9 quarters. We rate its filings highest-signal: new buys here are worth attention.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-0.9%
Q2 2024
+7.7%
Q3 2024
+0.4%
Q4 2024
-2.4%
Q1 2025
+7.8%
Q2 2025
+9.7%
Q3 2025
+4.6%
Q4 2025
-10.7%
Q1 2026
+11.1%
Sector allocation
Technology 44%
Financials 20%
Consumer discretionary 12%
Healthcare 8%
Materials 8%
Services media 7%
Real estate 1%
Industrials 0%
Long book by quarter
What does Manitou Investment own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 168.1K | $80.5M | 15.9% | -0.5% |
| GOOGL ALPHABET INC-CL A | Technology | 236.4K | $68.0M | 13.4% | -16.3% |
| AMZN AMAZON.COM INC | Consumer discretionary | 278.5K | $58.0M | 11.5% | +28.1% |
| MSFT MICROSOFT CORP | Technology | 125.0K | $46.3M | 9.2% | +22.1% |
| ROP ROPER TECHNOLOGIES INC | Technology | 122.2K | $43.2M | 8.6% | +52.4% |
| IDXX IDEXX LABORATORIES INC | Materials | 69.6K | $39.1M | 7.7% | +0.9% |
| MA MASTERCARD INC - A | Services media | 69.2K | $34.6M | 6.8% | -0.5% |
| APH AMPHENOL CORP-CL A | Technology | 246.6K | $31.2M | 6.2% | -17.1% |
| SYK STRYKER CORP | Healthcare | 83.5K | $27.4M | 5.4% | +0.4% |
| META META PLATFORMS INC-CLASS A | Technology | 39.0K | $22.3M | 4.4% | +42.1% |
| EW EDWARDS LIFESCIENCES CORP | Healthcare | 184.2K | $14.8M | 2.9% | -0.3% |
| JPM JPMORGAN CHASE & CO | Financials | 44.7K | $13.1M | 2.6% | -60.2% |
| AAPL APPLE INC | Technology | 48.8K | $12.4M | 2.5% | -33.0% |
| BN BROOKFIELD CORP | Real estate | 84.6K | $3.4M | 0.7% | +0.1% |
| BRK/A BERKSHIRE HATHAWAY INC-CL A | Financials | 4 | $2.9M | 0.6% | Held |
| MKL MARKEL GROUP INC | Financials | 1.1K | $2.2M | 0.4% | Held |
| CRH CRH PLC | Industrials | 15.3K | $1.6M | 0.3% | +16.5% |
| V VISA INC-CLASS A SHARES | Services media | 4.0K | $1.2M | 0.2% | Held |
| DHR DANAHER CORP | Technology | 5.7K | $1.1M | 0.2% | -1.4% |
| CME CME GROUP INC | Financials | 2.3K | $667K | 0.1% | -42.3% |
| COST COSTCO WHOLESALE CORP | Consumer discretionary | 215 | $214K | 0.0% | Held |
| GOOG ALPHABET INC-CL C | Technology | 580 | $166K | 0.0% | -27.5% |
| APA APA CORP | Energy | 3.1K | $133K | 0.0% | Held |
| JNJ JOHNSON & JOHNSON | Healthcare | 420 | $103K | 0.0% | Held |
| WFC WELLS FARGO & CO | Financials | 1.2K | $97K | 0.0% | Held |
| FRMO FRMO CORP | — | 11.5K | $90K | 0.0% | Held |
| BAC BANK OF AMERICA CORP | Financials | 1.7K | $84K | 0.0% | Held |
| USB US BANCORP | Financials | 1.5K | $79K | 0.0% | Held |
| LIN LINDE PLC | Materials | 157 | $78K | 0.0% | Held |
| IBM INTL BUSINESS MACHINES CORP | Technology | 280 | $68K | 0.0% | Held |
| SOBO SOUTH BOW CORP | Energy | 1.7K | $57K | 0.0% | Held |
| CAT CATERPILLAR INC | Industrials | 65 | $46K | 0.0% | Held |
| TJX TJX COMPANIES INC | Consumer discretionary | 278 | $44K | 0.0% | Held |
| MMM 3M CO | Healthcare | 290 | $42K | 0.0% | Held |
| HON HONEYWELL INTERNATIONAL INC | Industrials | 165 | $37K | 0.0% | Held |
| LLY ELI LILLY & CO | Healthcare | 40 | $37K | 0.0% | Held |
| FAST FASTENAL CO | Consumer discretionary | 784 | $36K | 0.0% | Held |
| WMT WALMART INC | Consumer discretionary | 255 | $32K | 0.0% | Held |
| WHR WHIRLPOOL CORP | Industrials | 559 | $30K | 0.0% | Held |
| WSO WATSCO INC | Consumer discretionary | 50 | $18K | 0.0% | Held |
| XRAY DENTSPLY SIRONA INC | Healthcare | 1.5K | $17K | 0.0% | Held |
| LULU LULULEMON ATHLETICA INC | Other | 85 | $13K | 0.0% | Held |
| COIN COINBASE GLOBAL INC -CLASS A | Financials | 12 | $2K | 0.0% | Held |
| SRAD SPORTRADAR GROUP AG-A | Technology | 125 | $2K | 0.0% | New |
| PENN PENN ENTERTAINMENT INC | Services media | 119 | $2K | 0.0% | Held |
| XYZ BLOCK INC | Technology | 29 | $2K | 0.0% | Held |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | Apr 20, 2026 | 52 | $505.6M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 10, 2026 | 56 | $570.7M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Oct 17, 2025 | 57 | $573.2M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Jul 25, 2025 | 61 | $525.8M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | Apr 15, 2025 | 66 | $514.4M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Jan 21, 2025 | 55 | $506.2M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Oct 28, 2024 | 55 | $525.7M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Jul 19, 2024 | 55 | $447.0M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 54 | $499.4M | canonical | SEC ↗ |
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