Asset manager · Toronto, Ontario, Canada
Sprucegrove Investment Management LTD
SEC-registered investment adviser · CRD 106355 · SEC 801-45884
At a glance
Sprucegrove Investment Management LTD is an SEC-registered investment adviser based in Toronto, Ontario, Canada, with $11.5 billion in regulatory assets under management as of its Form ADV filed April 9, 2026. Its largest client group by assets is state or municipal government entities, and it reports 12 individual clients. By Form ADV it is a asset manager, ranked 484th of 3,218 asset managers and 1,246th of 17,210 SEC-registered advisers by assets.
Main office 416-363-5854sprucegrove.comLinkedInAs filed on Form ADV
- Regulatory AUM
- $12B
- Rank among asset managers
- #484 of 3,218
- Rank among all SEC RIAs
- #1,246 of 17,210
- Individual clients
- 12
- High-net-worth clients
- 12
- Accounts
- 34
- Discretionary
- 100% of AUM
- Employees
- 49
- Advisory staff
- 17
- Offices
- 1
Owners and executives on its Form ADV
- Shirley N. WooDirector, Managing Director & Portfolio Manager
- Subhash N. MehtaSenior Investment Analyst
- Arjun N. KumarChief Executive Officer, Director, Managing Director & Portfolio Manager
- Ki-Se N. ChoiChief Financial Officer
- Tasleem N. JamalExecutive Vice President, Head of Marketing & Client Services
- Joseph P. DasilvaChief Compliance Officer
- Jeremy E. GauldChief Legal Officer
- Jonathan J. SingerAssistant Portfolio Manager & Research Director
- Harvey T. BottingIndependent Director
- George W. BuckleyIndependent Director
Custody and brokerage
Broker-dealer
Hybrid RIA
Sprucegrove Investment Management LTD is a hybrid RIA: 4 of its employees are also registered representatives of a broker-dealer.
Form ADV Part 1 doesn’t name an unaffiliated broker-dealer. The firm’s Part 2A brochure (Item 10) and each adviser’s record on the SEC’s adviser search do.
Who it serves
| Client type | Clients | Regulatory AUM | Share |
|---|---|---|---|
| State or municipal government entities | – | $3.8B | 33% |
| Investment companies | 1 | $3.8B | 33% |
| Pooled investment vehicles | 35 | $3.2B | 28% |
| Charitable organizations | – | $669M | 6% |
| Pension and profit sharing plans | – | $105M | <1% |
| High-net-worth individuals | 12 | $30M | <1% |
Private funds
Sprucegrove Investment Management LTD reports 4 private funds with $1.0B in gross assets: other private funds (Form ADV Item 7.B).
Disciplinary disclosures
Sprucegrove Investment Management LTD reports no disciplinary disclosures in Item 11 of Form ADV. Read the details on the SEC’s adviser search ↗
Services
- Portfolio management for investment companies
- Portfolio management for pooled investment vehicles
- Portfolio management for businesses and institutions
How it’s paid
- A percentage of assets under management
- Performance-based fees
Form ADV and brochures on the SEC’s adviser search ↗sprucegrove.com ↗
AtlasMembers
The full record on Sprucegrove Investment Management LTD
Ten years of SEC filings, its owners and contacts, and how it stacks up against its peers. Atlas members see all of it.
- Assets, accounts, clients and staff, ten years of filings
- Locked
- Growth over one, three and five years
- Locked
- Rank against 521 peers of its type and size
- Locked
- Owners and executives, with titles and stakes
- 10 namedLocked
- Main office, fax and compliance officer
- Locked
- Filing changes this year, with alerts
- 1Locked
Free while Atlas launches: create a free account and confirm your email. Every figure comes from SEC filings.
Background
Questions
How much does Sprucegrove Investment Management LTD manage?
Sprucegrove Investment Management LTD reports $11.5 billion in regulatory assets under management across 34 accounts, 100% of it on a discretionary basis, on its Form ADV filed April 9, 2026.
What kind of firm is Sprucegrove Investment Management LTD?
Sprucegrove Investment Management LTD is a asset manager by its Form ADV answers. Most of its assets are managed for funds, institutions or other businesses rather than individuals.
Who are Sprucegrove Investment Management LTD’s clients?
By assets, its largest client types are state or municipal government entities ($3.8 billion); investment companies ($3.8 billion, 1 clients); pooled investment vehicles ($3.2 billion, 35 clients).
Does Sprucegrove Investment Management LTD manage private funds?
Yes. It reports 4 private funds with $1.0 billion in gross assets, including other private funds.
Does Sprucegrove Investment Management LTD have any disciplinary history?
Sprucegrove Investment Management LTD reports no disciplinary disclosures in Item 11 of its Form ADV. Check the SEC’s adviser search for the latest record.
Where these numbers come from
Every figure is Sprucegrove Investment Management LTD’s own answer on its latest Form ADV, from the SEC’s registered-adviser list as of October 1, 2026: regulatory assets and accounts (Item 5.F), clients by type (5.D), employees (5.A and 5.B), compensation (5.E) and services (5.G). Custodians come from Schedule D 5.K(3) of its latest filing (2026-04-09), which lists those holding 10% or more of separately managed account assets and the amount at each. “Hybrid” means some employees are also registered representatives of a broker-dealer (Item 5.B(2)); affiliated broker-dealers are the related persons it lists in Item 7.A and Schedule D. Firm type comes from its own answers: broker-dealer firms are registered broker-dealers themselves (Item 6.A); private fund advisers manage mostly private funds (Item 7.B, 5.D); wealth managers manage at least half their assets for individuals (5.D). Ranks compare it by regulatory assets with every SEC-registered adviser and with firms of its type. Figures are as of the firm’s last annual update, so they can lag recent deals and market moves. Regulatory AUM counts assets the firm continuously supervises and can differ from what a firm markets.
Not an endorsement or a recommendation. Before hiring any adviser, read its Form ADV Part 2A brochure and check its record on the SEC’s adviser search. How to check a financial advisor →