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GFI Investment Counsel Ltd.

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

GFI Investment Counsel Ltd. reported $917,924,882 across 21 holdings for the quarter ended 2025-06-30, in a 13F-HR filed 2025-08-11. Its ten largest share positions make up 80.77% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001688774-25-000013

Period
2025-06-30
Reported value
$918M
Holdings
21
Top 10 weight
80.77%
New
3
Sold out
0

Largest buys vs the previous quarter

SecurityShares changeApprox. value
AONadded+3,274$1.17M
BAHadded+9,068$944K
AXPadded+2,597$828K
MSCIadded+1,338$772K
Gadded+13,466$593K

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
MSFTreduced-1,781-$886K
Vreduced-1,769-$628K
ROPreduced-417-$236K
FERGreduced-811-$177K
CRMreduced-10-$2.73K

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, Q2 2025

Share positions as resolved from 13F-HR 0001688774-25-000013, largest first. % of portfolio is the value over $917,924,882, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
MSFTMICROSOFT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 185,988 shares; 2024Q4: 187,372 shares; 2025Q1: 187,447 shares; 2025Q2: 185,666 shares 185,666$92.4M10.06%-1,781Timeline
VVISA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 257,067 shares; 2024Q4: 254,190 shares; 2025Q1: 249,764 shares; 2025Q2: 247,995 shares 247,995$88.1M9.59%-1,769Timeline
MCOMOODYS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 161,190 shares; 2024Q4: 161,376 shares; 2025Q1: 160,808 shares; 2025Q2: 161,060 shares 161,060$80.8M8.8%+252Timeline
ROPROPER TECHNOLOGIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 140,519 shares; 2025Q2: 140,102 shares 140,102$79.4M8.65%-417Timeline
HLTHILTON WORLDWIDE HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 265,924 shares; 2024Q4: 270,279 shares; 2025Q1: 273,493 shares; 2025Q2: 275,235 shares 275,235$73.3M7.99%+1,742Timeline
MSCIMSCI INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 115,372 shares; 2024Q4: 116,611 shares; 2025Q1: 117,211 shares; 2025Q2: 118,549 shares 118,549$68.4M7.45%+1,338Timeline
AXPAMERICAN EXPRESS COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 187,824 shares; 2024Q4: 195,292 shares; 2025Q1: 203,130 shares; 2025Q2: 205,727 shares 205,727$65.6M7.15%+2,597Timeline
SHWSHERWIN WILLIAMS COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 186,410 shares; 2024Q4: 186,551 shares; 2025Q1: 187,957 shares; 2025Q2: 189,262 shares 189,262$65M7.08%+1,305Timeline
EFXEQUIFAX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 241,012 shares; 2024Q4: 245,231 shares; 2025Q1: 247,475 shares; 2025Q2: 249,301 shares 249,301$64.7M7.04%+1,826Timeline
FERGFERGUSON ENTERPRISES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 271,175 shares; 2024Q4: 282,388 shares; 2025Q1: 294,195 shares; 2025Q2: 293,384 shares 293,384$63.9M6.96%-811Timeline
AONAON PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 155,154 shares; 2024Q4: 160,127 shares; 2025Q1: 163,336 shares; 2025Q2: 166,610 shares 166,610$59.4M6.48%+3,274Timeline
GGENPACT LIMITEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,289,838 shares; 2024Q4: 1,320,949 shares; 2025Q1: 1,316,393 shares; 2025Q2: 1,329,859 shares 1,329,859$58.5M6.38%+13,466Timeline
BAHBOOZ ALLEN HAMILTON HLDG CORQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 293,134 shares; 2024Q4: 315,923 shares; 2025Q1: 387,611 shares; 2025Q2: 396,679 shares 396,679$41.3M4.5%+9,068Timeline
BILSPDR SERIES TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 69,863 shares; 2024Q4: 69,863 shares; 2025Q1: 69,446 shares; 2025Q2: 73,846 shares 73,846$6.77M0.74%+4,400Timeline
CRMSALESFORCE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 21,364 shares; 2024Q4: 23,305 shares; 2025Q1: 23,283 shares; 2025Q2: 23,273 shares 23,273$6.35M0.69%-10Timeline
FSVFIRSTSERVICE CORP NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 12,502 shares; 2024Q4: 12,502 shares; 2025Q1: 12,502 shares; 2025Q2: 12,502 shares 12,502$2.18M0.24%0Timeline
IGIBISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 11,984 shares; 2024Q4: 11,984 shares; 2025Q1: 11,984 shares; 2025Q2: 11,984 shares 11,984$639K0.07%0Timeline
BRK-BBERKSHIRE HATHAWAY INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 1,197 shares; 2025Q1: 1,197 shares; 2025Q2: 1,197 shares 1,197$581K0.06%0Timeline
COSTCOSTCO WHOLESALE CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 257 shares 257$254K0.03%newTimeline
AMZNAMAZON COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 1,040 shares 1,040$228K0.02%newTimeline
CBRECBRE GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 1,500 shares 1,500$210K0.02%newTimeline

How Q2 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 0001688774-25-000013 base2025-08-11acceptance time not in the bulk data set