Mawer Investment Management Ltd.

Long Only Manager

Mawer Investment Management Ltd. is a Long Only Manager led by Geoffrey Grafton Ritchie, reporting $45.9B in AUM as of Q3 2025 with MSFT as the largest holding (7% allocation).

ChairmanGeoffrey Grafton Ritchie

Portfolio Value: $19.3B
Positions: 110
Top Holding: MSFT at 7.12%
Last Reported: Q3 2025

Address600, 517 10th Avenue S.w., Alberta, Calgary, T2R 0A8, Canada

Top Holdings

Largest long holdings in Mawer Investment Management Ltd.'s portfolio (44.8% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 Microsoft MSFT	Software - Infrastructure Technology	$1.4B	7.12%	-$116.4M Sold	0.04% 2.6M shares	Q3 2018 Held for 7y 2m
2 Alphabet Inc. GOOG	Internet Content & Information Communication Services	$1.0B	5.32%	-$244.3M Sold	0.03% 4.2M shares	Q2 2014 Held for 11y 5m
3 Amazon AMZN	Specialty Retail Consumer Cyclical	$985.0M	5.11%	+$113.3M Bought	0.04% 4.5M shares	Q1 2017 Held for 8y 8m
4 Marsh & McLennan Companies MMC	Insurance - Brokers Financial Services	$921.5M	4.79%	-$161.7M Sold	0.93% 4.6M shares	≤ Q2 2013 Held for 12y 5m+
5 Aon plc AON	Insurance - Brokers Financial Services	$890.8M	4.63%	-$168.8M Sold	1.16% 2.5M shares	≤ Q2 2013 Held for 12y 5m+
6 Visa V	Financial - Credit Services Financial Services	$803.2M	4.17%	+$81.5M Bought	0.12% 2.4M shares	≤ Q2 2013 Held for 12y 5m+
7 Booking Holdings Inc. BKNG	Travel Services Consumer Cyclical	$773.4M	4.02%	-$84.1M Sold	0.44% 143.2K shares	Q2 2015 Held for 10y 5m
8 Amphenol APH	Hardware, Equipment & Parts Technology	$731.4M	3.80%	-$187.8M Sold	0.48% 5.9M shares	Q1 2016 Held for 9y 8m
9 Northrop Grumman NOC	Aerospace & Defense Industrials	$587.9M	3.05%	-$11.7M Sold	0.67% 964.8K shares	Q2 2025 Held for 5 months
10 FTI Consulting FCN	Consulting Services Industrials	$540.8M	2.81%	-$76.1M Sold	10.34% 3.3M shares	Q1 2021 Held for 4y 8m

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in Mawer Investment Management Ltd.'s latest filing

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Market Value

$19.3B

Prior: $19.7B

Q/Q Change

-2.34%

-$462.0M

Net Flows % of MV

-6.72%

Turnover Ratio

13.36%

New Purchases

2 stocks

$82.2M

Added To

30 stocks

+$1.9B

Sold Out Of

7 stocks

$779.4M

Reduced Holdings

71 stocks

-$2.5B

Increased Positions

Position	Shares Δ	Change
1 Uber Technologies UBER	New	0 → 756.4K +$74.1M
2 Burford Capital BUR	New	0 → 678.4K +$8.1M
3 Nvidia NVDA	+2,744.5%	2.0K → 56.9K +$10.2M
4 Novanta NOVT	+1,114.48%	32.2K → 391.1K +$35.9M
5 Airbnb ABNB	+642.21%	75.0K → 556.9K +$58.5M

Decreased Positions

Position	Shares Δ	Change
1 lululemon athletica LULU	Sold	1.4M → 0 −$323.0M
2 Trinet Group TNET	Sold	2.8M → 0 −$205.3M
3 Robert Half RHI	Sold	3.9M → 0 −$161.8M
4 Icon ICLR	Sold	266.0K → 0 −$38.7M
5 Snap-on SNA	Sold	101.7K → 0 −$31.6M