Sprucegrove Investment Takes 8.38% Stake in Copa Holdings

TL;DR

**Sprucegrove just bought 8.38% of Copa Holdings, big institutional vote of confidence!**

AI Summary

Sprucegrove Investment Management Ltd., a Canadian investment firm, has disclosed a significant stake in Copa Holdings, S.A. (NYSE: CPA), the Panamanian airline. As of February 14, 2024, Sprucegrove beneficially owns 2,661,539 Class A shares, representing 8.38% of the total 31,773,072 outstanding shares. This filing indicates a notable institutional investor's confidence in Copa Holdings, which could be a positive signal for current and prospective shareholders.

Why It Matters

This filing reveals a major institutional investor's belief in Copa Holdings, potentially signaling future stability or growth for the airline's stock.

Risk Assessment

Risk Level: low — This filing indicates a significant institutional investment, generally seen as a positive sign of confidence rather than a risk.

Analyst Insight

A smart investor would view this as a positive signal, indicating institutional confidence in Copa Holdings, and might consider further research into the company's fundamentals or hold existing positions.

Key Numbers

• 2,661,539 — Shares Beneficially Owned (Represents Sprucegrove Investment Management Ltd.'s total stake in Copa Holdings Class A shares.)
• 8.38% — Percentage of Class (Indicates the significant portion of Copa Holdings Class A shares now owned by Sprucegrove Investment Management Ltd.)
• 31,773,072 — Total Class A Shares Outstanding (The total number of shares used to calculate Sprucegrove's percentage ownership.)

Key Players & Entities

• Sprucegrove Investment Management Ltd. (company) — reporting person and beneficial owner
• Copa Holdings, S.A. (company) — subject company (issuer)
• 2,661,539 (dollar_amount) — aggregate shares beneficially owned
• 8.38% (dollar_amount) — percentage of class owned
• February 14, 2024 (date) — date of event requiring filing
• 31,773,072 (dollar_amount) — total Class A shares outstanding

Forward-Looking Statements

• Copa Holdings' stock price may see increased stability or positive sentiment due to this significant institutional investment. (Copa Holdings, S.A.) — medium confidence, target: Next 3-6 months

FAQ

Filing Documents

• d701898dsc13g.htm (SC 13G) — 25KB
• 0001193125-24-018026.txt ( ) — 27KB

(a) Name of issuer

Item 1(a) Name of issuer: COPA HOLDINGS CLASS A

(b) Address of issuers

Item 1(b) Address of issuers principal executive offices: Costa del Este, Complejo Busines... Panama City, Panama 0831-0206 Panama 2(a) Name of person filing: SPRUCEGROVE INVESTMENT MANAGEMENT LTD. 2(b) Address or principal business office or, if none, residence: 181 UNIVERSITY AVENUE, SUITE 1300 TORONTO, ONTARIO M5H 3M7 2(c) Citizenship: CANADIAN 2(d) Title of class of securities: Class A, 31,773,072 shares outstanding 2(e) CUSIP Number: P31076105 Item 3. Not applicable

Ownership

Item 4. Ownership As of the close of business on December 31, 2023: 1. SPRUCEGROVE INVESTMENT MANAGEMENT LTD. (a) Amount beneficially owned: 2,661,539 (b) Percent of class: 8.38% (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote: 1,683,810 (ii) Shared power to vote or to direct the vote: 0 (iii) Sole power to dispose or to direct the disposition of: 2,661,539 (iv) Shared power to dispose or to direct the disposition of: 0

Ownership of 5 Percent or Less of a Class

Item 5. Ownership of 5 Percent or Less of a Class. If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following. Instruction. Dissolution of a group requires a response to this item.

Ownership of More than 5 Percent on Behalf of Another Person

Item 6. Ownership of More than 5 Percent on Behalf of Another Person. Not applicable

Identification and Classification

Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reporting on by the Parent Holding Company or Control Person. Not applicable

Identification and Classification of Members of the Group

Item 8. Identification and Classification of Members of the Group Not applicable

Notice of Dissolution of Group

Item 9. Notice of Dissolution of Group. Not applicable

Certifications

Item 10. Certifications By signing below I certify that, to the best of his/her knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. Signature. After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: January 25, 2024 SPRUCEGROVE INVESTMENT MANAGEMENT LTD. By: /s/ JOE DASILVA Name: JOE DASILVA Title: CHIEF COMPLIANCE OFFICER

View Full Filing

View this SC 13G filing on SEC EDGAR