GLUSKIN SHEFF & ASSOC INC

Long Only Manager

GLUSKIN SHEFF & ASSOC INC is a Long Only Manager led by John Karl Mack, reporting $2.2B in AUM as of Q3 2025 with AON as the largest holding (8% allocation).

Managing PartnerJohn Karl Mack

Portfolio Value: $791.6M
Positions: 70
Top Holding: AON at 7.65%
Last Reported: Q3 2025

Address130 Adelaide Street W, Suite 200, Richmond Adelaide Centre, Toronto On, M5H 3P5, Canada

Top Holdings

Largest long holdings in GLUSKIN SHEFF & ASSOC INC's portfolio (44.9% of total portfolio)

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GthenH

Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 Aon plc AON	Insurance - Brokers Financial Services	$60.5M	7.65%	+$4.4M Bought	0.08% 169.8K shares	Q2 2018 Held for 7y 5m
2 Apollo Global Management APO	Asset Management - Global Financial Services	$50.6M	6.39%	+$6.2M Bought	0.07% 379.4K shares	Q2 2019 Held for 6y 5m
3 Microsoft MSFT	Software - Infrastructure Technology	$39.9M	5.04%	-$492.6K Sold	0.00% 77.1K shares	Q4 2016 Held for 8y 11m
4 Nvidia NVDA	Semiconductors Technology	$34.3M	4.33%	-$521.3K Sold	0.00% 183.9K shares	Q1 2021 Held for 4y 8m
5 Alphabet Inc. GOOGL	Internet Content & Information Communication Services	$33.8M	4.28%	-$485.5K Sold	0.00% 139.2K shares	≤ Q2 2013 Held for 12y 5m+
6 Uber Technologies UBER	Software - Application Technology	$31.8M	4.01%	-$1.9M Sold	0.02% 324.3K shares	Q1 2022 Held for 3y 8m
7 Apple AAPL	Consumer Electronics Technology	$29.4M	3.71%	-$584.6K Sold	0.00% 115.4K shares	≤ Q2 2013 Held for 12y 5m+
8 S&P Global SPGI	Financial - Data & Stock Exchanges Financial Services	$27.0M	3.41%	+$839.1K Bought	0.02% 55.5K shares	Q3 2019 Held for 6y 2m
9 Amazon AMZN	Specialty Retail Consumer Cyclical	$25.1M	3.17%	-$358.6K Sold	0.00% 114.3K shares	Q3 2019 Held for 6y 2m
10 Meta Platforms, Inc. META	Internet Content & Information Communication Services	$23.3M	2.95%	+$93.3K Bought	0.00% 31.8K shares	Q3 2019 Held for 6y 2m

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GthenH

Changes

Portfolio activity, position movements, and quarter-over-quarter changes in GLUSKIN SHEFF & ASSOC INC's latest filing

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GthenC

Market Value

$791.6M

Prior: $820.0M

Q/Q Change

-3.47%

-$28.5M

Net Flows % of MV

-8.92%

Turnover Ratio

8.91%

New Purchases

0 stocks

Added To

19 stocks

+$35.2M

Sold Out Of

48 stocks

$93.1M

Reduced Holdings

50 stocks

-$12.7M

Increased Positions

Position	Shares Δ	Change
1 Masimo MASI	+239.53%	8.2K → 27.9K +$2.9M
2 First Advantage Corporation FA	+45.37%	531.2K → 772.1K +$3.7M
3 Hayward Holdings HAYW	+35.29%	165.6K → 224.0K +$883.4K
4 Sotera Health SHC	+31.56%	414.1K → 544.8K +$2.1M
5 The Ensign Group ENSG	+30.72%	58.5K → 76.5K +$3.1M

Decreased Positions

Position	Shares Δ	Change
1 iShares MSCI EAFE EFA	Sold	295.4K → 0 −$26.4M
2 Toronto Dominion Bank TD	Sold	60.0K → 0 −$4.4M
3 Shopify SHOP	Sold	36.4K → 0 −$4.2M
4 Brookfield BN	Sold	62.5K → 0 −$3.9M
5 Royal Bank of Canada RY	Sold	26.4K → 0 −$3.5M