GFI Investment Counsel
TORONTO, A6files as GFI Investment Counsel Ltd.
$737m in 30 US stocks at the end of 30 June 2026. The top 10 are 76.2% of the money. It changed about 10.0% of the portfolio this quarter.
Value
$737m
Stocks
30
Top 10 share
76.2%
Turnover
10.0%
What changed this quarter
New
Bought for the first time this quarter.
- Interactive Brokers GroupIBKR4.0% of the fund
- State STR Spdr S&P 500 ETF TSPY0.2% of the fund
- Ishares TRIEFA0.2% of the fund
- DraftKingsDKNG0.1% of the fund
- Vaneck ETF TrustBUZZ<0.1% of the fund
- AlphabetGOOG<0.1% of the fund
- Royal Bank of CanadaRY<0.1% of the fund
Added
Bought more of a stock they already held.
- VerisignVRSN3.9% of the fund+161%
- AlphabetGOOGL1.0% of the fund+93%
Cut
Sold some of their stake.
- Hilton Worldwide HoldingsHLT9.7% of the fund-13%
- VisaV8.8% of the fund-3%
- American ExpressAXP8.4% of the fund-3%
- Ferguson EnterprisesFERG8.1% of the fund-5%
- MsciMSCI7.9% of the fund-4%
- Moody'sMCO7.2% of the fund-2%
- MicrosoftMSFT7.0% of the fund-3%
- Amazon.comAMZN5.2% of the fund-2%
- EquifaxEFX4.9% of the fund-2%
- Otis WorldwideOTIS4.3% of the fund-24%
- Brookfield Asset ManagementBAM3.3% of the fund-2%
- Spdr Series TrustBIL0.9% of the fund-6%
- Roper TechnologiesROP0.4% of the fund-94%
- AppleAAPL0.1% of the fund-42%
Sold out
Sold their entire stake.
- Sprott Asset Management LPPSLV-100%
Holdings
- Spdr Series TrustBIL
- Share
- 0.9%
- Value
- $7m
- Shares
- 72,044
-6%
- FirstServiceFSV
- Share
- 0.3%
- Value
- $2m
- Shares
- 13,421
Held
- State STR Spdr S&P 500 ETF TSPY
- Share
- 0.2%
- Value
- $1m
- Shares
- 1,723
New
- Ishares TRIEFA
- Share
- 0.2%
- Value
- $1m
- Shares
- 12,181
New
- Ishares TRIGIB
- Share
- <0.1%
- Value
- $637,189
- Shares
- 11,984
Held
- Vaneck ETF TrustBUZZ
- Share
- <0.1%
- Value
- $233,524
- Shares
- 6,320
New
- Royal Bank of CanadaRY
- Share
- <0.1%
- Value
- $204,389
- Shares
- 989
New
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| Hilton Worldwide HoldingsHLT | 9.7% | $72m | 216,490 | -13% |
| VisaV | 8.8% | $65m | 188,200 | -3% |
| American ExpressAXP | 8.4% | $62m | 183,904 | -3% |
| Ferguson EnterprisesFERG | 8.1% | $60m | 251,124 | -5% |
| MsciMSCI | 7.9% | $59m | 104,619 | -4% |
| Moody'sMCO | 7.2% | $53m | 117,879 | -2% |
| AonAON | 7.2% | $53m | 160,005 | Held |
| MicrosoftMSFT | 7.0% | $51m | 137,975 | -3% |
| Sherwin-WilliamsSHW | 6.6% | $49m | 141,998 | Held |
| Amazon.comAMZN | 5.2% | $39m | 162,210 | -2% |
| EquifaxEFX | 4.9% | $36m | 226,926 | -2% |
| Otis WorldwideOTIS | 4.3% | $32m | 442,927 | -24% |
| Interactive Brokers GroupIBKR | 4.0% | $30m | 339,184 | New |
| VerisignVRSN | 3.9% | $29m | 113,640 | +161% |
| Brookfield Asset ManagementBAM | 3.3% | $24m | 541,297 | -2% |
| AlphabetGOOGL | 1.0% | $7m | 19,829 | +93% |
| Spdr Series TrustBIL | 0.9% | $7m | 72,044 | -6% |
| Roper TechnologiesROP | 0.4% | $3m | 8,150 | -94% |
| FirstServiceFSV | 0.3% | $2m | 13,421 | Held |
| State STR Spdr S&P 500 ETF TSPY | 0.2% | $1m | 1,723 | New |
| Ishares TRIEFA | 0.2% | $1m | 12,181 | New |
| DraftKingsDKNG | 0.1% | $1m | 39,635 | New |
| AppleAAPL | 0.1% | $856,795 | 2,961 | -42% |
| Berkshire HathawayBRK-B | <0.1% | $645,003 | 1,289 | Held |
| Ishares TRIGIB | <0.1% | $637,189 | 11,984 | Held |
| Costco WholesaleCOST | <0.1% | $303,092 | 324 | Held |
| TeslaTSLA | <0.1% | $264,137 | 628 | Held |
| Vaneck ETF TrustBUZZ | <0.1% | $233,524 | 6,320 | New |
| AlphabetGOOG | <0.1% | $226,485 | 641 | New |
| Royal Bank of CanadaRY | <0.1% | $204,389 | 989 | New |
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is down 19.7% since 30 June 2025.
Where the money is
Financial services47.0%
Industrials17.3%
Retail & consumer15.1%
Technology11.3%
Materials6.6%
Media & telecom1.0%
Real estate0.3%
Everyday goods0.0%
Other1.3%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.