{"url":"https://nivawealth.com/firms/sprucegrove-investment-management-106355","iapdUrl":"https://adviserinfo.sec.gov/firm/summary/106355","regulatoryAum":11534579739,"crd":"106355","secFileNumber":"801-45884","legalName":"Sprucegrove Investment Management LTD","displayName":"Sprucegrove Investment Management","website":"https://www.sprucegrove.com","linkedinUrl":"https://www.linkedin.com/company/sprucegrove-investment-management-ltd./","founded":null,"organization":"corporation organized in Canada","fiscalYearEnd":"December","headquarters":{"street":"181 University Avenue, Suite 1300","city":"Toronto, Ontario","state":"","stateName":"","country":"Canada","postalCode":"M5H 3M7"},"tradeNames":[],"registration":{"secApproved":"15 March 1994","noticeFilings":null,"latestNoticeFiling":null},"staff":{"employees":49,"advisory":17,"brokerDealerReps":4,"insuranceAgents":0,"promoters":0},"aum":{"discretionary":11534579739,"discretionaryAccounts":34,"nonDiscretionary":0,"nonDiscretionaryAccounts":0,"wrapProgram":null,"nonUsClientsPct":23,"nonAumClients":0},"clientTypes":[{"label":"High-net-worth individuals","clients":12,"regulatoryAum":30148572},{"label":"Investment companies","clients":1,"regulatoryAum":3752470847},{"label":"Pooled investment vehicles","clients":35,"regulatoryAum":3211472302},{"label":"Pension and profit-sharing plans","clients":null,"regulatoryAum":104934799},{"label":"Charitable organizations","clients":null,"regulatoryAum":669459047},{"label":"State or municipal government entities","clients":null,"regulatoryAum":3766094172}],"fees":[],"feeNotes":[],"custodians":[{"name":"State Street Corporation","shortName":"State Street","location":"Boston, MA","smaAssets":3766094172},{"name":"Bank of New York Mellon","shortName":"Bank of New York Mellon","location":"New York, NY","smaAssets":669459047},{"name":"Jpmorgan Chase Bank N.A,","shortName":"J.P. Morgan","location":"New York, NY","smaAssets":3752470848}],"custodyNote":"Sprucegrove Investment Management does not have custody of client assets.","otherCustodians":[],"leadership":[{"name":"Arjun Kumar","title":"Chief Executive Officer, Director, Managing Director & Portfolio Manager","crd":"6177954"},{"name":"Tasleem Jamal","title":"Executive Vice President, Head of Marketing & Client Services","crd":"6932758"},{"name":"Ki-Se Choi","title":"Chief Financial Officer","crd":"6751175"},{"name":"Joseph Dasilva","title":"Chief Compliance Officer","crd":"6948530"},{"name":"Harvey Botting","title":"Independent Director","crd":"7924471"},{"name":"George Buckley","title":"Independent Director","crd":"7924474"},{"name":"Jeremy Gauld","title":"Chief Legal Officer","crd":"5813368"},{"name":"Jonathan Singer","title":"Assistant Portfolio Manager & Research Director","crd":"7524186"},{"name":"Shirley Woo","title":"Director, Managing Director & Portfolio Manager","crd":"4347032"},{"name":"Subhash Mehta","title":"Senior Investment Analyst","crd":"5099638"}],"ownership":[{"label":"Shirley Woo","detail":"Director, managing director & portfolio manager in the 10% to 25% ownership band and a control person, since January 2013."},{"label":"Subhash Mehta","detail":"Senior investment analyst in the 5% to 10% ownership band and a control person, since January 2006."},{"label":"Arjun Kumar","detail":"Chief executive officer, director, managing director & portfolio manager in the 10% to 25% ownership band and a control person, since January 2022."},{"label":"Tasleem Jamal","detail":"Executive vice president, head of marketing & client services in the 10% to 25% ownership band, since August 2010."},{"label":"Jonathan Singer","detail":"Assistant portfolio manager & research director in the 5% to 10% ownership band, since April 2020."}],"branchOffices":null,"filedOffices":{"otherThanPrincipal":0,"privateResidences":0},"listedOfficeAddresses":1,"officesByState":[],"advFacts":{"source":{"file":"ia100226.zip","asOf":"2 October 2026"},"telephone":"416-363-5854","stateRegisteredReps":0,"otherAdviserReps":0,"compensation":["A percentage of assets under management","Performance-based fees"],"activities":["Portfolio management for investment companies","Portfolio management for pooled investment vehicles (other than investment companies)","Portfolio management for businesses (other than small businesses) or institutional clients"],"financialPlanningClients":null,"assetMix":[{"label":"Exchange-traded equity securities","percent":97},{"label":"Cash and cash equivalents","percent":3}],"privateFunds":4},"sources":{"adv1FilingDate":"9 April 2026","adv1Url":"https://reports.adviserinfo.sec.gov/reports/ADV/106355/PDF/106355.pdf","brochureDate":null,"brochureUrl":null,"iapdCompiledDate":null,"retrievedDate":"15 October 2026","retrievedOn":"2026-10-15","adv1Pages":{},"brochurePages":{}},"otherBusiness":[],"faq":[{"question":"How many clients does Sprucegrove Investment Management have?","answer":"Sprucegrove Investment Management has 48 clients and manages $11.5 billion for them, as of April 2026. They include 35 pooled investment vehicles, 12 high-net-worth individuals and 1 investment companies.","source":"Form ADV Part 1A, Items 5.D and 5.F, filed 9 April 2026","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What services does Sprucegrove Investment Management offer?","answer":"Sprucegrove Investment Management provides portfolio management for investment companies, portfolio management for pooled vehicles and portfolio management for institutions.","source":"Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"Which custodians does Sprucegrove Investment Management use?","answer":"Sprucegrove Investment Management’s separately managed account assets are held at State Street Corporation (Boston, MA), with $3,766,094,172, Jpmorgan Chase Bank N.A, (New York, NY), with $3,752,470,848 and Bank of New York Mellon (New York, NY), with $669,459,047. Only custodians holding at least a tenth of those assets are named.","source":"Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 9 April 2026","sourceRef":{"doc":"adv1","section":"custodians"}},{"question":"How many financial advisors does Sprucegrove Investment Management have?","answer":"Sprucegrove Investment Management has 0 investment adviser representatives registered with state securities authorities, out of 49 employees, and 17 perform investment advisory functions. 4 are registered representatives of a broker-dealer and 0 are licensed insurance agents.","source":"Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What does Sprucegrove Investment Management invest in?","answer":"At the end of its last fiscal year, Sprucegrove Investment Management’s separately managed accounts held 97% exchange-traded equities and 3% cash and equivalents. It advises 4 private funds.","source":"Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"Who owns Sprucegrove Investment Management?","answer":"Sprucegrove Investment Management’s direct owners are Shirley Woo, Subhash Mehta, Arjun Kumar, Tasleem Jamal and Jonathan Singer, each holding 25% or less.","source":"Form ADV Part 1A, Schedules A and B, filed 9 April 2026","sourceRef":{"doc":"adv1","section":"scheduleA"}},{"question":"How does Sprucegrove Investment Management get paid?","answer":"Sprucegrove Investment Management is paid through a percentage of assets under management and performance-based fees. Its Form ADV lists no commissions among how it is paid.","source":"Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}}],"holdings":null,"notice":"Compiled from public SEC Form ADV filings on the dates in `sources`. Facts as filed; not a rating, ranking, or recommendation. Niva Wealth is not affiliated with this firm. Disciplinary history is deliberately not included here or on the page; the SEC publishes the complete record at the `iapdUrl` above."}