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GFI Investment Counsel Ltd.

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13F filer, CIK 1688774, TORONTO, Ontario, Canada

GFI Investment Counsel Ltd. reported $859,848,865 across 18 holdings for the quarter ended 2025-03-31, in a 13F-HR filed 2025-05-14. Its ten largest share positions make up 81.59% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001688774-25-000002

Period
2025-03-31
Reported value
$860M
Holdings
18
Top 10 weight
81.59%
New
1
Sold out
3

Largest buys vs the previous quarter

SecurityShares changeApprox. value
ROPnew+140,519$82.8M
BAHadded+71,688$7.5M
AXPadded+7,838$2.11M
FERGadded+11,807$1.89M
AONadded+3,209$1.28M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
AAPLexited-335,652-$84.1M
VRSNexited-43,000-$8.9M
Vreduced-4,426-$1.55M
MCOreduced-568-$265K
TSLAexited-628-$254K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q1 2025

Share positions as resolved from 13F-HR 0001688774-25-000002, largest first. % of portfolio is the value over $859,848,865, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
VVISA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 257,067 shares; 2024Q4: 254,190 shares; 2025Q1: 249,764 shares 249,764$87.5M10.18%-4,426Timeline
ROPROPER TECHNOLOGIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 140,519 shares 140,519$82.8M9.64%newTimeline
MCOMOODYS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 161,190 shares; 2024Q4: 161,376 shares; 2025Q1: 160,808 shares 160,808$74.9M8.71%-568Timeline
MSFTMICROSOFT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 185,988 shares; 2024Q4: 187,372 shares; 2025Q1: 187,447 shares 187,447$70.4M8.18%+75Timeline
GGENPACT LIMITEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,289,838 shares; 2024Q4: 1,320,949 shares; 2025Q1: 1,316,393 shares 1,316,393$66.3M7.71%-4,556Timeline
MSCIMSCI INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 115,372 shares; 2024Q4: 116,611 shares; 2025Q1: 117,211 shares 117,211$66.3M7.71%+600Timeline
SHWSHERWIN WILLIAMS COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 186,410 shares; 2024Q4: 186,551 shares; 2025Q1: 187,957 shares 187,957$65.6M7.63%+1,406Timeline
AONAON PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 155,154 shares; 2024Q4: 160,127 shares; 2025Q1: 163,336 shares 163,336$65.2M7.58%+3,209Timeline
HLTHILTON WORLDWIDE HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 265,924 shares; 2024Q4: 270,279 shares; 2025Q1: 273,493 shares 273,493$62.2M7.24%+3,214Timeline
EFXEQUIFAX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 241,012 shares; 2024Q4: 245,231 shares; 2025Q1: 247,475 shares 247,475$60.3M7.01%+2,244Timeline
AXPAMERICAN EXPRESS COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 187,824 shares; 2024Q4: 195,292 shares; 2025Q1: 203,130 shares 203,130$54.7M6.36%+7,838Timeline
FERGFERGUSON ENTERPRISES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 271,175 shares; 2024Q4: 282,388 shares; 2025Q1: 294,195 shares 294,195$47.1M5.48%+11,807Timeline
BAHBOOZ ALLEN HAMILTON HLDG CORQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 293,134 shares; 2024Q4: 315,923 shares; 2025Q1: 387,611 shares 387,611$40.5M4.71%+71,688Timeline
BILSPDR SERIES TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 69,863 shares; 2024Q4: 69,863 shares; 2025Q1: 69,446 shares 69,446$6.37M0.74%-417Timeline
CRMSALESFORCE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 21,364 shares; 2024Q4: 23,305 shares; 2025Q1: 23,283 shares 23,283$6.25M0.73%-22Timeline
FSVFIRSTSERVICE CORP NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 12,502 shares; 2024Q4: 12,502 shares; 2025Q1: 12,502 shares 12,502$2.07M0.24%0Timeline
BRK-BBERKSHIRE HATHAWAY INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 1,197 shares; 2025Q1: 1,197 shares 1,197$637K0.07%0Timeline
IGIBISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 11,984 shares; 2024Q4: 11,984 shares; 2025Q1: 11,984 shares 11,984$629K0.07%0Timeline

Sold out in Q1 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
AAPLAPPLE INC335,652$84.1Mshares
VRSNVERISIGN INC43,000$8.9Mshares
TSLATESLA INC628$254Kshares

How Q1 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001688774-25-000002 base2025-05-14acceptance time not in the bulk data set