GFI Investment Counsel Ltd.

TORONTO, A6 · CIK 1688774 · 13F filing filed 2026-08-14

SEC-registered investment adviser since 2024 · corporation

Assets managed$1.8bn
Staff20 · 7 in investment roles
Main clients (by assets)Companies 52%, High net worth individuals 32%, Private funds 9%
Main officeToronto, Ontario
Websitegfiic.com
Form ADV · 2026-09-01SEC adviser record

Legal entityGFI INVESTMENT COUNSEL LTD. (CA)

Kindinstitutions, wealth, bank or insurer
Others nearbyMontréal, Toronto, Calgary, Québec, Ottawa, North Cowichan
FamilyNATIONAL BANK OF CANADA /FI/ · 6 related pages · largest: NATIONAL BANK OF CANADA /FI/

$737.3m reported value +0.8% vs Q1 2026

30positions

76.2%in top 10

7 new 3 added 16 reduced 1 sold out vs Q1 2026

Holdings, Q2 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	HILTON WORLDWIDE HLDGS INC COM HLT	HLT	216,490	$71.5m9.70%	9.70%	Reduced -32.1k	-32,071 -12.9%
2	VISA INC COM CL A V	V	188,200	$64.6m8.76%	8.76%	Reduced -6.0k	-5,969 -3.1%
3	AMERICAN EXPRESS CO COM AXP	AXP	183,904	$62.2m8.44%	8.44%	Reduced -5.9k	-5,943 -3.1%
4	FERGUSON ENTERPRISES INC COMMON STOCK NEW FERG	FERG	251,124	$59.6m8.08%	8.08%	Reduced -11.8k	-11,846 -4.5%
5	MSCI INC COM MSCI	MSCI	104,619	$58.6m7.95%	7.95%	Reduced -4.4k	-4,391 -4.0%
6	MOODYS CORP COM MCO	MCO	117,879	$53.4m7.24%	7.24%	Reduced -2.6k	-2,593 -2.1%
7	AON PLC SHS CL A AON	AON	160,005	$53.1m7.20%	7.20%	Added +2.6k	+2,568 1.6%
8	MICROSOFT CORP COM MSFT	MSFT	137,975	$51.5m6.98%	6.98%	Reduced -4.2k	-4,223 -3.0%
9	SHERWIN WILLIAMS CO COM SHW	SHW	141,998	$48.9m6.63%	6.63%	Reduced -2.8k	-2,833 -2.0%
10	AMAZON COM INC COM AMZN	AMZN	162,210	$38.7m5.24%	5.24%	Reduced -4.1k	-4,082 -2.5%
11	EQUIFAX INC COM EFX	EFX	226,926	$36.0m4.89%	4.89%	Reduced -4.9k	-4,875 -2.1%
12	OTIS WORLDWIDE CORP COM OTIS	OTIS	442,927	$31.7m4.30%	4.30%	Reduced -142.4k	-142,437 -24.3%
13	INTERACTIVE BROKERS GROUP IN COM CL A IBKR	IBKR	339,184	$29.5m4.00%	4.00%	New
14	VERISIGN INC COM VRSN	VRSN	113,640	$28.6m3.88%	3.88%	Added +70.2k	+70,170 161.4%
15	BROOKFIELD ASSET MANAGMT LTD CL A LMT VTG SHS BAM	BAM	541,297	$24.2m3.29%	3.29%	Reduced -13.5k	-13,456 -2.4%
16	ALPHABET INC CAP STK CL A GOOGL	GOOGL	19,829	$7.1m0.96%	0.96%	Added +9.5k	+9,529 92.5%
17	SPDR SER TR BLOOMBERG 1-3 MO BIL	BIL	72,044	$6.6m0.90%	0.90%	Reduced -4.7k	-4,664 -6.1%
18	ROPER TECHNOLOGIES INC COM ROP	ROP	8,150	$2.8m0.37%	0.37%	Reduced -119.6k	-119,570 -93.6%
19	FIRSTSERVICE CORP NEW COM FSV	FSV	13,421	$1.9m0.26%	0.26%	Unchanged
20	SPDR S&P 500 ETF TR TR UNIT SPY	SPY	1,723	$1.3m0.17%	0.17%	New
21	ISHARES TR CORE MSCI EAFE IEFA	IEFA	12,181	$1.2m0.16%	0.16%	New
22	DRAFTKINGS INC NEW COM CL A DKNG	DKNG	39,635	$1.0m0.14%	0.14%	New
23	APPLE INC COM AAPL	AAPL	2,961	$856.8k0.12%	0.12%	Reduced -2.1k	-2,110 -41.6%
24	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	1,289	$645.0k0.09%	0.09%	Reduced -15	-15 -1.1%
25	ISHARES TR ISHS 5-10YR INVT IGIB	IGIB	11,984	$637.2k0.09%	0.09%	Unchanged
26	COSTCO WHSL CORP NEW COM COST	COST	324	$303.1k0.04%	0.04%	Unchanged
27	TESLA INC COM TSLA	TSLA	628	$264.1k0.04%	0.04%	Unchanged
28	VANECK ETF TRUST SOCIAL SENTIMENT BUZZ	BUZZ	6,320	$233.5k0.03%	0.03%	New
29	ALPHABET INC CAP STK CL C GOOG	GOOG	641	$226.5k0.03%	0.03%	New
30	ROYAL BK CDA COM RY	RY	989	$204.4k0.03%	0.03%	New

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
SPROTT PHYSICAL SILVER TR PSLV	PSLV	8,520	$207.7k8.5k shares