Canoe Financial LP
In its 13F for Q2 2026 (holdings as of June 30, 2026, filed July 16, 2026), Canoe Financial LP reported 110 stock positions worth $8.1 billion. Its top holding was Canadian Natl Railway (CNI) at 5.0% of the portfolio, followed by SLB (SLB, 4.4%) and Taiwan Semiconductor-SP ADR (TSM, 4.3%). Compared with Q1 2026, it opened 5 new positions, sold out of 7, added to 41 and reduced 57. The biggest buy was SLB (SLB, shares +82%) and the biggest sale Expand Energy (EXE, shares −77%).
- Most Recent 13F
- Q2 2026
- Location
- CALGARY, A0
- CIK
- 0001908219
- Portfolio Value
- $8.1B (Q2 2026)
- SEC Filing
- 0001908219-26-000005 ↗ filed Jul 16, 2026
Holdings Value
Holdings 110 stocks · $8.1B
| CNI Canadian Natl Railway Co. | 5.03% | 3,407,690 | $406.3M | Reduce -0.6% |
| SLB SLB Ltd. filed as SLB LIMITED | 4.45% | 7,730,966 | $358.9M | Add +82.3% |
| TSM Taiwan Semiconductor-SP ADR | 4.26% | 720,570 | $344.1M | Reduce -16.7% |
| GOOGL Alphabet Inc. Class A | 3.19% | 721,114 | $257.7M | Reduce -15.8% |
| QSR Restaurant Brands Intern | 3.01% | 3,354,908 | $243.1M | Add +0.2% |
| V Visa Inc. Class A | 2.82% | 663,320 | $227.6M | Reduce -2.7% |
| CVS CVS Health Corp. | 2.81% | 2,193,833 | $227.0M | Add +1.1% |
| OTIS Otis Worldwide Corp. | 2.70% | 3,044,476 | $218.0M | Add +24.3% |
| EQT Eqt Corp. | 2.67% | 4,020,858 | $215.4M | Add +34.5% |
| HAL Halliburton Co. | 2.43% | 5,789,518 | $196.6M | Add +42.4% |
| CP Canadian Pacific Kansas City | 2.39% | 2,226,842 | $192.9M | Add +9.6% |
| PM Philip Morris International | 2.28% | 1,016,158 | $183.8M | Add +2.8% |
| JNJ Johnson & Johnson | 2.25% | 716,237 | $181.9M | Add +0.2% |
| MSFT Microsoft Corp. | 2.15% | 465,891 | $173.8M | Reduce -9.2% |
| ROST Ross Stores Inc. | 2.11% | 800,488 | $170.4M | Add +0.8% |
| MCO Moody's Corp. | 2.09% | 373,122 | $169.0M | Reduce -4.8% |
| RBA RB Global Inc. | 2.02% | 1,400,855 | $162.9M | Add +2.5% |
| CTVA Corteva Inc. | 1.96% | 1,867,231 | $158.1M | Add +45.3% |
| ICHGF Intercontinental Hotels Grou | 1.93% | 902,654 | $155.5M | Reduce -15.5% |
| TMO Thermo Fisher Scientific Inc. | 1.92% | 309,994 | $155.4M | Add +92.5% |
| DE Deere & Co. | 1.88% | 239,931 | $152.2M | Add +34.3% |
| MA Mastercard Inc. Class A | 1.88% | 295,001 | $151.5M | Reduce -2.6% |
| TXN Texas Instruments Inc. | 1.84% | 498,756 | $148.7M | Add +0.8% |
| RY Royal Bank of Canada | 1.79% | 698,838 | $144.6M | Add +0.8% |
| ELV Elevance Health Inc. | 1.74% | 363,504 | $140.6M | Reduce -1.0% |
| ADI Analog Devices Inc. | 1.74% | 353,188 | $140.3M | Add +1.1% |
| NTR Nutrien Ltd. | 1.66% | 2,132,438 | $134.2M | Add +61.5% |
| LMT Lockheed Martin Corp. | 1.65% | 261,015 | $133.0M | Add +1.1% |
| AZO AutoZone Inc. | 1.63% | 41,081 | $131.3M | Reduce -7.6% |
| WFC Wells Fargo & Co. | 1.60% | 1,567,786 | $129.6M | Add +14.4% |
| RRC Range Resources Corp. | 1.53% | 3,313,891 | $123.3M | Add +44.7% |
| MTB M & T Bank Corp. filed as M & T BK CORP | 1.48% | 500,469 | $119.1M | Add +1.4% |
| EFXT Enerflex Ltd. | 1.43% | 4,701,871 | $115.4M | Add +1.6% |
| CME Cme Group Inc. | 1.34% | 490,242 | $108.3M | Reduce -1.2% |
| DHR Danaher Corp. | 1.32% | 558,214 | $106.3M | New |
| EMR Emerson Electric Co. | 1.29% | 726,462 | $104.0M | Add +196.0% |
| SHW The Sherwin-Williams Co. | 1.26% | 294,897 | $101.5M | Reduce -7.7% |
| TECK Teck Resources Ltd.-CLS B | 1.25% | 1,693,501 | $100.8M | Add +0.8% |
| ICE Intercontinental Exchange Inc. | 1.25% | 817,651 | $100.7M | Add +77.2% |
| MSCI MSCI Inc. | 1.25% | 179,551 | $100.6M | Reduce -2.8% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 1.24% | 661,117 | $100.2M | Reduce -8.0% |
| CVE Cenovus Energy Inc. | 1.22% | 3,959,392 | $98.1M | Reduce -6.0% |
| CNQ Canadian Natural Resources | 1.19% | 2,437,345 | $96.4M | Reduce -29.0% |
| CARR Carrier Global Corp. | 0.91% | 998,100 | $73.2M | Reduce -7.6% |
| WPM Wheaton Precious Metals Corp. | 0.83% | 598,860 | $67.3M | Add +31.4% |
| AEM Agnico Eagle Mines Ltd. | 0.82% | 427,922 | $66.4M | Add +19.9% |
| MTD Mettler-Toledo International | 0.80% | 50,294 | $64.3M | Reduce -3.0% |
| AMZN Amazon.com Inc. | 0.79% | 269,200 | $64.2M | Add +196.5% |
| WFRD Weatherford International PL | 0.69% | 682,100 | $55.6M | Add +28.9% |
| FISV Fiserv Inc. | 0.61% | 1,003,360 | $49.3M | Add +111.0% |
| RIG Transocean Ltd. | 0.53% | 8,682,600 | $42.5M | Add +143.1% |
| NOC Northrop Grumman Corp. | 0.34% | 53,939 | $27.5M | Add +1.1% |
| HP Helmerich & Payne | 0.33% | 821,162 | $26.9M | Reduce -10.7% |
| EXE Expand Energy Corp. | 0.31% | 254,892 | $25.2M | Reduce -76.7% |
| KLAC KLA Corp. | 0.27% | 73,000 | $22.0M | Add +61.5% |
| UNH Unitedhealth Group Inc. | 0.26% | 50,838 | $21.1M | Add +11.9% |
| SPGI S&P Global Inc. | 0.24% | 48,139 | $19.6M | Reduce -8.4% |
| BGSI Boyd Group Services Inc. | 0.22% | 190,754 | $18.0M | Reduce -23.7% |
| AON Aon PLC Class A | 0.19% | 45,829 | $15.2M | Reduce -17.0% |
| TDW Tidewater Inc. | 0.17% | 210,456 | $14.0M | Reduce -23.4% |
| SAPGF Sap SE | 0.16% | 83,330 | $12.8M | Reduce -25.2% |
| LOW Lowe's Cos Inc. | 0.16% | 57,044 | $12.6M | Add +28.8% |
| LIN Linde PLC | 0.15% | 23,838 | $12.4M | Reduce -8.4% |
| ALC Alcon Inc. filed as ALCON AG | 0.15% | 177,528 | $12.0M | Reduce -23.6% |
| HLT Hilton Worldwide Holdings Inc. | 0.13% | 32,247 | $10.7M | Reduce -13.6% |
| DGEAF Diageo PLC | 0.11% | 452,530 | $9.1M | Reduce -28.5% |
| RAL Ralliant Corp. | 0.11% | 122,728 | $9.0M | Add +3.5% |
| UNLYF Unilever PLC | 0.11% | 146,048 | $8.8M | Reduce -37.7% |
| TAC Transalta Corp. | 0.09% | 550,000 | $7.6M | New |
| PPHC Public Policy Holding Co. Inc. | 0.09% | 1,017,732 | $7.5M | Reduce -0.1% |
| VLUTF Volution Group PLC | 0.09% | 907,233 | $7.4M | Reduce -1.9% |
| PEP Pepsico Inc. | 0.09% | 53,440 | $7.2M | Reduce -18.3% |
| CL Colgate-Palmolive Co. | 0.08% | 73,246 | $6.7M | Reduce -7.6% |
| HDB HDFC Bank Ltd.-ADR | 0.08% | 248,680 | $6.4M | Reduce -27.5% |
| GGG Graco Inc. | 0.07% | 77,471 | $5.9M | Reduce -82.5% |
| CPRT Copart Inc. | 0.07% | 197,427 | $5.6M | Reduce -18.0% |
| GDXJ Vaneck Junior Gold Miners | 0.07% | 56,520 | $5.6M | Reduce -1.8% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.07% | 14,315 | $5.5M | Add +118.4% |
| CRM Salesforce Inc. | 0.06% | 32,500 | $5.1M | No change |
| VRSN Verisign Inc. | 0.06% | 20,019 | $5.0M | Add +3.6% |
| GIB Cgi Inc. | 0.05% | 65,000 | $4.2M | No change |
| ABT Abbott Laboratories | 0.04% | 40,000 | $3.6M | No change |
| FSV Firstservice Corp. | 0.04% | 24,132 | $3.4M | Reduce -3.3% |
| DSGX The Descartes Systems Grp | 0.04% | 48,632 | $3.4M | Reduce -25.1% |
| AGI Alamos Gold Inc. Class A | 0.04% | 110,826 | $3.4M | Reduce -4.3% |
| EFX Equifax Inc. | 0.04% | 17,812 | $3.3M | No change |
| NTB Bank of N.T. Butterfield&son | 0.04% | 51,860 | $3.1M | Reduce -12.1% |
| EFA iShares MSCI Eafe ETF | 0.04% | 26,620 | $3.0M | New |
| ROP Roper Technologies Inc. | 0.04% | 8,891 | $3.0M | Reduce -8.5% |
| MAR Marriott International Class A | 0.04% | 7,993 | $3.0M | Reduce -92.1% |
| KGC Kinross Gold Corp. | 0.03% | 116,586 | $2.8M | Reduce -15.6% |
| WTW Willis Towers Watson PLC | 0.03% | 10,225 | $2.7M | Reduce -27.6% |
| OR Or Royalties Inc. | 0.03% | 79,732 | $2.5M | Add +51.7% |
| STN Stantec Inc. | 0.03% | 34,796 | $2.4M | Reduce -44.9% |
| ATS Ats Corp. | 0.03% | 83,024 | $2.4M | Reduce -5.0% |
| AXP American Express Co. | 0.03% | 6,282 | $2.1M | Reduce -61.9% |
| WCN Waste Connections Inc. | 0.02% | 12,000 | $2.0M | No change |
| CI The Cigna Group | 0.02% | 5,826 | $1.6M | Reduce -9.7% |
| SYF Synchrony Financial | 0.02% | 21,094 | $1.6M | No change |
| SUNB Sunbelt Rentals Holdings Inc. | 0.02% | 17,178 | $1.3M | Reduce -98.5% |
Portfolio Sells Q1 2026 → Q2 2026
| EXE Expand Energy Corp. | Reduce -76.7% | 0.31% | −1.34 |
| CNQ Canadian Natural Resources | Reduce -29.0% | 1.19% | −1.09 |
| SUNB Sunbelt Rentals Holdings Inc. | Reduce -98.5% | 0.02% | −0.98 |
| MDT Medtronic PLC | Sold out | 0.00% | −0.88 |
| CME Cme Group Inc. | Reduce -1.2% | 1.34% | −0.66 |
| MSFT Microsoft Corp. | Reduce -9.2% | 2.15% | −0.44 |
| GGG Graco Inc. | Reduce -82.5% | 0.07% | −0.44 |
| AZO AutoZone Inc. | Reduce -7.6% | 1.63% | −0.42 |
| MAR Marriott International Class A | Reduce -92.1% | 0.04% | −0.42 |
| TJX TJX Companies Inc. | Reduce -8.0% | 1.24% | −0.32 |
| CVE Cenovus Energy Inc. | Reduce -6.0% | 1.22% | −0.31 |
| MCO Moody's Corp. | Reduce -4.8% | 2.09% | −0.24 |
| BGSI Boyd Group Services Inc. | Reduce -23.7% | 0.22% | −0.21 |
| MA Mastercard Inc. Class A | Reduce -2.6% | 1.88% | −0.19 |
| GOOGL Alphabet Inc. Class A | Reduce -15.8% | 3.19% | −0.17 |
| TDW Tidewater Inc. | Reduce -23.4% | 0.17% | −0.14 |
| SHW The Sherwin-Williams Co. | Reduce -7.7% | 1.26% | −0.14 |
| HP Helmerich & Payne | Reduce -10.7% | 0.33% | −0.12 |
| MSCI MSCI Inc. | Reduce -2.8% | 1.25% | −0.11 |
| SAPGF Sap SE | Reduce -25.2% | 0.16% | −0.10 |
| BAM Brookfield Asset Mgmt-A | Sold out | 0.00% | −0.10 |
| MTD Mettler-Toledo International | Reduce -3.0% | 0.80% | −0.10 |
| ALC Alcon Inc. | Reduce -23.6% | 0.15% | −0.09 |
| PPHC Public Policy Holding Co. Inc. | Reduce -0.1% | 0.09% | −0.08 |
| UNLYF Unilever PLC | Reduce -37.7% | 0.11% | −0.07 |
| NKE Nike Inc. Class B | Sold out | 0.00% | −0.07 |
| SPGI S&P Global Inc. | Reduce -8.4% | 0.24% | −0.06 |
| FDS Factset Research Systems Inc. | Sold out | 0.00% | −0.06 |
| AON Aon PLC Class A | Reduce -17.0% | 0.19% | −0.05 |
| PEP Pepsico Inc. | Reduce -18.3% | 0.09% | −0.05 |
| GRTUF Granite Real Estate Investme | Sold out | 0.00% | −0.05 |
| DGEAF Diageo PLC | Reduce -28.5% | 0.11% | −0.05 |
| STN Stantec Inc. | Reduce -44.9% | 0.03% | −0.04 |
| AXP American Express Co. | Reduce -61.9% | 0.03% | −0.04 |
| CPRT Copart Inc. | Reduce -18.0% | 0.07% | −0.04 |
| HDB HDFC Bank Ltd.-ADR | Reduce -27.5% | 0.08% | −0.04 |
| AGI Alamos Gold Inc. Class A | Reduce -4.3% | 0.04% | −0.03 |
| ADBE Adobe Inc. | Sold out | 0.00% | −0.03 |
| GDXJ Vaneck Junior Gold Miners | Reduce -1.8% | 0.07% | −0.03 |
| KGC Kinross Gold Corp. | Reduce -15.6% | 0.03% | −0.02 |
| HLT Hilton Worldwide Holdings Inc. | Reduce -13.6% | 0.13% | −0.02 |
| LIN Linde PLC | Reduce -8.4% | 0.15% | −0.02 |
| WTW Willis Towers Watson PLC | Reduce -27.6% | 0.03% | −0.02 |
| DSGX The Descartes Systems Grp | Reduce -25.1% | 0.04% | −0.02 |
| ROP Roper Technologies Inc. | Reduce -8.5% | 0.04% | −0.02 |
| CIGI Colliers Intl GR-Subord Vot | Reduce -60.5% | 0.01% | −0.01 |
| ZTS Zoetis Inc. | Reduce -32.9% | 0.01% | −0.01 |
| COF Capital One Financial Corp. | Sold out | 0.00% | −0.01 |
| CL Colgate-Palmolive Co. | Reduce -7.6% | 0.08% | −0.01 |
| FSV Firstservice Corp. | Reduce -3.3% | 0.04% | −0.00 |
Portfolio Buys Q1 2026 → Q2 2026
| SLB SLB Ltd. | Add +82.3% | 4.45% | +1.44 |
| DHR Danaher Corp. | New | 1.32% | +1.32 |
| EMR Emerson Electric Co. | Add +196.0% | 1.29% | +0.85 |
| TMO Thermo Fisher Scientific Inc. | Add +92.5% | 1.92% | +0.85 |
| CVS CVS Health Corp. | Add +1.1% | 2.81% | +0.69 |
| AMZN Amazon.com Inc. | Add +196.5% | 0.79% | +0.54 |
| TXN Texas Instruments Inc. | Add +0.8% | 1.84% | +0.53 |
| DE Deere & Co. | Add +34.3% | 1.88% | +0.51 |
| CTVA Corteva Inc. | Add +45.3% | 1.96% | +0.49 |
| NTR Nutrien Ltd. | Add +61.5% | 1.66% | +0.30 |
| HAL Halliburton Co. | Add +42.4% | 2.43% | +0.27 |
| RY Royal Bank of Canada | Add +0.8% | 1.79% | +0.26 |
| ICE Intercontinental Exchange Inc. | Add +77.2% | 1.25% | +0.26 |
| FISV Fiserv Inc. | Add +111.0% | 0.61% | +0.25 |
| RBA RB Global Inc. | Add +2.5% | 2.02% | +0.23 |
| ADI Analog Devices Inc. | Add +1.1% | 1.74% | +0.22 |
| CP Canadian Pacific Kansas City | Add +9.6% | 2.39% | +0.21 |
| RIG Transocean Ltd. | Add +143.1% | 0.53% | +0.20 |
| KLAC KLA Corp. | Add +61.5% | 0.27% | +0.18 |
| OTIS Otis Worldwide Corp. | Add +24.3% | 2.70% | +0.13 |
| RRC Range Resources Corp. | Add +44.7% | 1.53% | +0.12 |
| WFC Wells Fargo & Co. | Add +14.4% | 1.60% | +0.12 |
| EFXT Enerflex Ltd. | Add +1.6% | 1.43% | +0.11 |
| TAC Transalta Corp. | New | 0.09% | +0.09 |
| UNH Unitedhealth Group Inc. | Add +11.9% | 0.26% | +0.09 |
| MTB M & T Bank Corp. | Add +1.4% | 1.48% | +0.09 |
| EQT Eqt Corp. | Add +34.5% | 2.67% | +0.07 |
| TECK Teck Resources Ltd.-CLS B | Add +0.8% | 1.25% | +0.06 |
| PM Philip Morris International | Add +2.8% | 2.28% | +0.05 |
| RAL Ralliant Corp. | Add +3.5% | 0.11% | +0.04 |
| EFA iShares MSCI Eafe ETF | New | 0.04% | +0.04 |
| WPM Wheaton Precious Metals Corp. | Add +31.4% | 0.83% | +0.02 |
| FEZ State Street SPDR Euro Stoxx | New | 0.01% | +0.01 |
| LOW Lowe's Cos Inc. | Add +28.8% | 0.16% | +0.01 |
| SLM SLM Corp. | New | 0.01% | +0.01 |
| WFRD Weatherford International PL | Add +28.9% | 0.69% | +0.01 |
| OR Or Royalties Inc. | Add +51.7% | 0.03% | +0.00 |
| ALLE Allegion PLC | Add +22.4% | 0.01% | +0.00 |
| VRSN Verisign Inc. | Add +3.6% | 0.06% | −0.00 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +118.4% | 0.07% | −0.03 |
| JNJ Johnson & Johnson | Add +0.2% | 2.25% | −0.13 |
| NOC Northrop Grumman Corp. | Add +1.1% | 0.34% | −0.16 |
| AEM Agnico Eagle Mines Ltd. | Add +19.9% | 0.82% | −0.16 |
| ROST Ross Stores Inc. | Add +0.8% | 2.11% | −0.23 |
| QSR Restaurant Brands Intern | Add +0.2% | 3.01% | −0.37 |
| LMT Lockheed Martin Corp. | Add +1.1% | 1.65% | −0.48 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 110 | $8.1B | CNI, SLB, TSM, GOOGL, QSR |
| Q1 2026 | 112 | $7.3B | CNI, TSM, QSR, GOOGL, SLB |
| Q4 2025 | 103 | $7.4B | TSM, GOOGL, CNI, WFC, MSFT |
| Q3 2025 | 105 | $7.0B | TSM, GOOGL, MSFT, CNI, WFC |
| Q2 2025 | 105 | $7.0B | TSM, MSFT, CNI, WFC, GOOGL |
| Q1 2025 | 100 | $6.2B | UNH, TSM, CNI, AZO, MSFT |
| Q4 2024 | 97 | $6.1B | TSM, GOOGL, MSFT, DEO, UNH |
| Q3 2024 | 88 | $4.2B | UNH, AXP, ELV, AEM, WFC |
| Q2 2024 | 93 | $5.4B | MSFT, DGEAF, TSM, AXP, GOOGL |
| Q1 2024Amended | 102 | $6.1B | MSFT, UNH, DGEAF, TSM, AXP |