0001193125-12-032033.txt : 20120131 0001193125-12-032033.hdr.sgml : 20120131 20120131160324 ACCESSION NUMBER: 0001193125-12-032033 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20111231 FILED AS OF DATE: 20120131 DATE AS OF CHANGE: 20120131 EFFECTIVENESS DATE: 20120131 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SPRUCEGROVE INVESTMENT MANAGEMENT LTD CENTRAL INDEX KEY: 0001234074 IRS NUMBER: 000000000 STATE OF INCORPORATION: A6 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-11833 FILM NUMBER: 12559299 BUSINESS ADDRESS: STREET 1: 181 UNIVERSITY AVE STREET 2: STE 1300 CITY: TORONTO STATE: A6 ZIP: M5H 3M7 BUSINESS PHONE: 416-363-5854 MAIL ADDRESS: STREET 1: 181 UNIVERSITY AVE STREET 2: STE 1300 CITY: TORONTO STATE: A6 ZIP: M5H 3M7 13F-HR 1 d292663d13fhr.txt 13F-HR UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13 F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: December 31, 2011 Check here if Amendment [ ]; Amendment Number: This Amendment (Check only one.): [ ] is a restatement. [ ] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Sprucegrove Investment Management Ltd. Address: 181 University Avenue, Suite 1300 Toronto, Ontario, Canada M5H 3M7 Form 13F File Number: 28-11833 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: Blake Murphy Title: Chief Operating Officer Phone: (416) 363-5854 x222 Signature, Place, and Date of Signing: /s/ Blake Murphy Toronto, Ontario January 30, 2012 ------------------ ------------------ ----------------- [Signature] [City, State] [Date] Report Type (Check only one.): [X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) [_] 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) [_] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 1 Form 13F Information Table Entry Total: 91 Form 13F Information Table Value Total: $ 3,998,863 (thousands) List of Other Included Managers: Leith Wheeler Investment Counsel Ltd. Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. [If there are no entries in this list, state "NONE" and omit the column headings and list entries.] No. Form 13F File Number Name 1 28-______________________ Leith Wheeler Investment Counsel Ltd. [Repeat as necessary.] FORM 13F INFORMATION TABLE
VOTING AUTHORITY VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER NAME OF ISSUER TITLE OF CLASS CUSIP (X1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE -------------- ------------------- --------- ---------- --------- --- ---- ---------- -------- --------- ------ --------- 3M COMPANY COMMON 88579Y101 51,549.56 630,730 DEFINED 630,730 3M COMPANY COMMON 88579Y101 111,880.20 1,368,900 SOLE 1,198,700 170,200 AMERICAN EXPRESS CO COMMON 025816109 4,268.89 90,500 DEFINED 90,500 AMERICAN EXPRESS CO COMMON 025816109 9,957.59 211,100 SOLE 185,800 25,300 APACHE CORP COMMON 037411105 37,858.36 417,955 DEFINED 417,955 APACHE CORP COMMON 037411105 86,526.55 955,250 SOLE 630,450 324,800 BEAM INC COMMON STOCK 073730103 25,871.15 505,000 DEFINED 505,000 BEAM INC COMMON STOCK 073730103 7,971.39 155,600 SOLE 155,600 -- BECTON DICKINSON COMMON 075887109 33,597.10 449,640 DEFINED 449,640 BECTON DICKINSON COMMON 075887109 64,939.15 869,100 SOLE 808,300 60,800 BEMIS INC COMMON 081437105 26,921.60 895,000 DEFINED 895,000 BEMIS INC COMMON 081437105 46,160.17 1,534,580 SOLE 1,356,380 178,200 BERKSHIRE HATHAWAY CLASS B 084670702 34,458.22 451,615 DEFINED 451,615 BERKSHIRE HATHAWAY CLASS B 084670702 74,260.50 973,270 SOLE 852,490 120,780 BROWN FORMAN CORP CLASS B 115637209 5,072.13 63,000 DEFINED 63,000 BROWN FORMAN CORP CLASS B 115637209 1,606.17 19,950 SOLE 19,950 -- CARNIVAL CORP COMMON 143658300 34,677.55 1,062,425 DEFINED 1,062,425 CARNIVAL CORP COMMON 143658300 80,367.32 2,462,234 SOLE 2,158,128 304,106 COCA-COLA CO COMMON 191216100 40,834.49 583,600 DEFINED 583,600 COCA-COLA CO COMMON 191216100 70,200.90 1,003,300 SOLE 886,300 117,000 CRANE CO COMMON 224399105 5,602.86 119,950 DEFINED 119,950 CRANE CO COMMON 224399105 11,741.31 251,366 SOLE 218,856 32,510 DENBURY RES INC COMMON 247916208 5,604.37 371,150 DEFINED 371,150 DENBURY RES INC COMMON 247916208 14,515.63 961,300 SOLE 842,200 119,100 DENTSPLY INTL INC COMMON 249030107 5,808.34 166,000 DEFINED 166,000 DENTSPLY INTL INC COMMON 249030107 16,042.53 458,489 SOLE 401,189 57,300 EAGLE MATERIALS COMMON 26969P108 5,219.24 203,400 DEFINED 203,400 EAGLE MATERIALS COMMON 26969P108 10,185.12 396,926 SOLE 345,726 51,200 EMERSON ELEC CO COMMON 291011104 2,296.89 49,300 DEFINED 49,300 EMERSON ELEC CO COMMON 291011104 10,263.78 220,300 SOLE 191,300 29,000 FRTNE BRNDS HOME&SEC COMMON 34964C106 8,629.10 506,700 DEFINED 506,700 FRTNE BRNDS HOME&SEC COMMON 34964C106 2,649.87 155,600 SOLE 155,600 -- GANNETT INC COMMON 364730101 27,176.53 2,032,650 DEFINED 2,032,650 GANNETT INC COMMON 364730101 40,160.94 3,003,810 SOLE 2,672,220 331,590 GENERAL DYNAMICS COMMON 369550108 2,257.94 34,000 DEFINED 34,000 GENERAL DYNAMICS COMMON 369550108 9,317.32 140,300 SOLE 128,900 11,400 GOOGLE INC CLASS A 38259P508 3,828.90 5,928 DEFINED 5,928 GOOGLE INC CLASS A 38259P508 14,301.52 22,142 SOLE 19,439 2,703 GRANITE CONSTR INC COMMON 387328107 6,326.12 266,700 DEFINED 266,700 GRANITE CONSTR INC COMMON 387328107 9,286.38 391,500 SOLE 342,400 49,100 HEARTLAND EXPRESS IN COMMON 422347104 7,656.18 535,772 DEFINED 535,772 HEARTLAND EXPRESS IN COMMON 422347104 1,514.35 105,973 SOLE 105,973 -- HUBBELL INC CLASS B 443510201 19,815.97 296,380 DEFINED 296,380 HUBBELL INC CLASS B 443510201 44,395.04 664,000 SOLE 582,600 81,400 INTEL CORP COMMON 458140100 26,733.56 1,102,415 DEFINED 1,102,415 INTEL CORP COMMON 458140100 51,602.55 2,127,940 SOLE 1,872,420 255,520 JOHNSON & JOHNSON COMMON 478160104 58,741.32 895,720 DEFINED 895,720 JOHNSON & JOHNSON COMMON 478160104 115,525.73 1,761,600 SOLE 1,642,100 119,500 LENNAR CORP CLASS B 526057302 7,617.84 488,950 DEFINED 488,950 LENNAR CORP CLASS B 526057302 1,889.20 121,258 SOLE 121,258 -- MARKEL CORP COMMON 570535104 63,118.58 152,214 DEFINED 152,214 MARKEL CORP COMMON 570535104 142,811.93 344,399 SOLE 301,233 43,166 MARTIN MARIETTA MATL COMMON 573284106 6,172.46 81,852 DEFINED 81,852 MARTIN MARIETTA MATL COMMON 573284106 15,911.51 211,000 SOLE 184,600 26,400 MDU RES GROUP INC COMMON 552690109 36,964.85 1,722,500 DEFINED 1,722,500 MDU RES GROUP INC COMMON 552690109 54,270.19 2,528,900 SOLE 2,243,300 285,600 MERCK & CO INC COMMON 58933Y105 45,898.81 1,217,475 DEFINED 1,217,475 MERCK & CO INC COMMON 58933Y105 93,299.96 2,474,800 SOLE 2,301,900 172,900 MICROSOFT CORP COMMON 594918104 44,810.13 1,726,122 DEFINED 1,726,122 MICROSOFT CORP COMMON 594918104 76,286.06 2,938,600 SOLE 2,589,900 348,700 NABORS INDS LTD COMMON G6359F103 25,196.75 1,453,100 DEFINED 1,453,100 NABORS INDS LTD COMMON G6359F103 52,007.86 2,999,300 SOLE 2,629,900 369,400 PETROLEO BRASILEIRO ADR(2 ORD SHRS) 71654V408 175,085.10 7,045,678 SOLE 5,671,978 1,373,700 PFIZER INC COMMON 717081103 47,610.42 2,200,112 DEFINED 2,200,112 PFIZER INC COMMON 717081103 100,378.87 4,638,580 SOLE 4,324,960 313,620 POSCO ADR(0.25 ORD SHRS) 693483109 128,150.55 1,560,908 SOLE 1,284,088 276,820 PROCTER & GAMBLE CO COMMON 742718109 53,582.27 803,212 DEFINED 803,212 PROCTER & GAMBLE CO COMMON 742718109 100,378.54 1,504,700 SOLE 1,323,000 181,700 ROCKWELL COLLINS INC COMMON 774341101 3,781.77 68,300 DEFINED 68,300 ROCKWELL COLLINS INC COMMON 774341101 12,441.64 224,700 SOLE 206,800 17,900 RYANAIR HLDGS SP ADR (5 ORD) 783513104 211,421.46 7,588,710 SOLE 6,364,810 1,223,900 SAMSUNG ELECTRS LTD GDR 144A (0.5 ORD) 796050888 378,171.77 823,543 SOLE 677,083 146,460 SIGNET JEWELERS LT SHS G81276100 64,158.17 1,459,467 SOLE 794,817 664,650
VOTING AUTHORITY VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER NAME OF ISSUER TITLE OF CLASS CUSIP (X1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE -------------- -------------- --------- ------------ ----------- --- ---- ---------- -------- --------- ------ ------- SIMPSON MANUFACTURIN COMMON 829073105 1,952.28 58,000 DEFINED 58,000 SIMPSON MANUFACTURIN COMMON 829073105 477.97 14,200 SOLE 14,200 -- SYSCO CORP COMMON 871829107 30,726.11 1,047,600 DEFINED 1,047,600 SYSCO CORP COMMON 871829107 55,656.61 1,897,600 SOLE 1,671,600 226,000 TELLABS INC COMMON 879664100 14,678.73 3,633,350 DEFINED 3,633,350 TELLABS INC COMMON 879664100 24,680.76 6,109,100 SOLE 5,443,352 665,748 TIDEWATER INC COMMON 886423102 40,132.67 814,050 DEFINED 814,050 TIDEWATER INC COMMON 886423102 76,484.02 1,551,400 SOLE 1,368,334 183,066 UNITED TECHNOLOGIES COMMON 913017109 9,498.05 129,950 DEFINED 129,950 UNITED TECHNOLOGIES COMMON 913017109 23,001.42 314,700 SOLE 290,300 24,400 WALGREEN CO COMMON 931422109 41,215.90 1,246,700 DEFINED 1,246,700 WALGREEN CO COMMON 931422109 88,280.12 2,670,300 SOLE 2,346,100 324,200 WALT DISNEY CO COMMON 254687106 10,492.50 279,800 DEFINED 279,800 WALT DISNEY CO COMMON 254687106 27,180.00 724,800 SOLE 630,500 94,300 WASHINGTON FED INC COMMON 938824109 25,035.11 1,789,500 DEFINED 1,789,500 WASHINGTON FED INC COMMON 938824109 57,320.88 4,097,275 SOLE 3,591,195 506,080 WELLS FARGO & CO COMMON 949746101 48,574.80 1,762,511 DEFINED 1,762,511 WELLS FARGO & CO COMMON 949746101 95,880.14 3,478,960 SOLE 3,044,260 434,700 3,998,863.13 109,948,236