Canoe Financial LP
In its 13F for Q3 2024 (holdings as of September 30, 2024, filed October 24, 2024), Canoe Financial LP reported 88 stock positions worth $4.2 billion. Its top holding was Unitedhealth (UNH) at 5.2% of the portfolio, followed by American Express (AXP, 4.9%) and Elevance Health (ELV, 4.3%). Compared with Q2 2024, it opened 24 new positions, sold out of 29, added to 17 and reduced 42. The biggest buy was a new position in Unitedhealth (UNH) and the biggest sale an exit from Diageo (DGEAF).
- Most Recent 13F
- Q2 2026
- Location
- CALGARY, A0
- CIK
- 0001908219
- Portfolio Value
- $4.2B (Q3 2024)
- SEC Filing
- 0001908219-24-000009 ↗ filed Oct 24, 2024
Holdings Value
Holdings 88 stocks · $4.2B
| UNH Unitedhealth Group Inc. | 5.20% | 371,515 | $216.2M | New |
| AXP American Express Co. | 4.87% | 748,162 | $202.8M | Reduce -15.0% |
| ELV Elevance Health Inc. | 4.30% | 341,724 | $179.0M | Add +2.7% |
| AEM Agnico Eagle Mines Ltd. | 3.92% | 1,993,016 | $163.1M | Reduce -5.0% |
| WFC Wells Fargo & Co. | 3.86% | 2,871,719 | $160.5M | New |
| LOW Lowe's Cos Inc. | 3.65% | 569,036 | $152.0M | Reduce -5.5% |
| PM Philip Morris International | 3.63% | 1,253,470 | $151.2M | Reduce -2.2% |
| RY Royal Bank of Canada | 3.62% | 1,214,397 | $150.8M | Reduce -5.9% |
| QSR Restaurant Brands Intern | 3.48% | 2,028,349 | $144.7M | Add +7.4% |
| ADI Analog Devices Inc. | 3.38% | 605,935 | $140.6M | Add +54.0% |
| V Visa Inc. Class A | 3.17% | 479,448 | $131.9M | New |
| RBA RB Global Inc. | 2.74% | 1,418,666 | $113.9M | Add +22.0% |
| WPM Wheaton Precious Metals Corp. | 2.72% | 1,808,726 | $113.0M | New |
| MTB M & T Bank Corp. filed as M & T BK CORP | 2.48% | 588,302 | $103.2M | Add +29.4% |
| EQT Eqt Corp. | 2.16% | 2,500,000 | $89.9M | New |
| TSM Taiwan Semiconductor-SP ADR | 2.16% | 504,596 | $89.8M | Reduce -70.5% |
| SBUX Starbucks Corp. | 2.15% | 919,222 | $89.5M | Reduce -0.1% |
| DFS Discover Financial Services | 2.08% | 621,082 | $86.5M | Reduce -2.5% |
| RRC Range Resources Corp. | 1.95% | 2,660,309 | $81.3M | Add +114.9% |
| ROST Ross Stores Inc. | 1.92% | 526,323 | $79.8M | Reduce -2.3% |
| LBRT Liberty Energy Inc. | 1.91% | 4,124,695 | $79.4M | Add +20.4% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.86% | 169,344 | $77.5M | Reduce -3.9% |
| MAR Marriott International Class A | 1.86% | 305,606 | $77.3M | New |
| B Barrick Gold Corp. | 1.84% | 3,779,421 | $76.5M | Reduce -16.2% |
| FDX FedEx Corp. | 1.61% | 250,647 | $67.1M | Add +1.8% |
| CNQ Canadian Natural Resources | 1.24% | 1,549,610 | $51.5M | Add +225.9% |
| CP Canadian Pacific Kansas City | 1.18% | 575,014 | $49.2M | Reduce -17.3% |
| EMR Emerson Electric Co. | 1.18% | 449,611 | $49.1M | Reduce -40.8% |
| GE General Electric filed as GE AEROSPACE | 1.18% | 264,338 | $49.0M | Reduce -55.9% |
| DLTR Dollar Tree Inc. | 1.12% | 636,976 | $46.6M | New |
| VRSN Verisign Inc. | 1.12% | 243,677 | $46.5M | New |
| RCI Rogers Communications Inc. Class B | 1.10% | 1,133,087 | $45.6M | Add +14.3% |
| EFXT Enerflex Ltd. | 1.07% | 7,508,762 | $44.6M | Reduce -4.4% |
| CB Chubb Ltd. | 1.05% | 150,295 | $43.5M | Reduce -3.9% |
| NOC Northrop Grumman Corp. | 1.04% | 82,137 | $43.3M | Reduce -39.4% |
| MSFT Microsoft Corp. | 1.02% | 98,676 | $42.2M | Reduce -84.1% |
| GOOGL Alphabet Inc. Class A | 0.91% | 232,134 | $38.1M | Reduce -82.3% |
| SPGI S&P Global Inc. | 0.89% | 71,884 | $36.9M | Add +7.6% |
| MCO Moody's Corp. | 0.79% | 69,193 | $32.8M | Reduce -83.9% |
| ALC Alcon Inc. filed as ALCON AG | 0.77% | 317,428 | $32.0M | New |
| AZO AutoZone Inc. | 0.75% | 9,718 | $31.1M | Reduce -83.3% |
| FISV Fiserv Inc. | 0.72% | 168,272 | $30.0M | Reduce -33.5% |
| MA Mastercard Inc. Class A | 0.62% | 51,946 | $25.6M | Reduce -85.7% |
| FTV Fortive Corp. | 0.57% | 297,059 | $23.5M | Reduce -14.7% |
| UL Unilever PLC | 0.56% | 358,478 | $23.5M | New |
| ORCL Oracle Corp. | 0.50% | 122,809 | $20.7M | Reduce -1.3% |
| SHW The Sherwin-Williams Co. | 0.49% | 52,916 | $20.3M | Reduce -83.4% |
| LIN Linde PLC | 0.46% | 40,136 | $19.2M | Reduce -1.7% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.45% | 160,278 | $18.8M | New |
| HDB HDFC Bank Ltd.-ADR | 0.45% | 288,398 | $18.6M | Add +3.2% |
| ATS Ats Corp. | 0.45% | 623,509 | $18.5M | Reduce -9.2% |
| AON Aon PLC Class A | 0.44% | 53,109 | $18.5M | Add +3.1% |
| CARR Carrier Global Corp. | 0.39% | 201,350 | $16.2M | No change |
| PEP Pepsico Inc. | 0.39% | 95,367 | $16.2M | Reduce -3.1% |
| CME Cme Group Inc. | 0.36% | 68,200 | $14.9M | Reduce -85.1% |
| JNJ Johnson & Johnson | 0.35% | 89,726 | $14.5M | Reduce -83.2% |
| OTIS Otis Worldwide Corp. | 0.32% | 129,266 | $13.5M | Reduce -87.3% |
| MSCI MSCI Inc. | 0.32% | 23,254 | $13.4M | Reduce -83.7% |
| GGG Graco Inc. | 0.29% | 139,471 | $12.2M | Reduce -78.3% |
| MTD Mettler-Toledo International | 0.29% | 8,207 | $12.1M | Reduce -85.5% |
| ADBE Adobe Inc. | 0.29% | 23,206 | $12.0M | No change |
| PTEN Patterson-Uti Energy Inc. | 0.28% | 1,524,000 | $11.8M | Add +15942.1% |
| FDS Factset Research Systems Inc. | 0.26% | 23,944 | $11.0M | No change |
| EXE Expand Energy Corp. filed as CHESAPEAKE ENERGY CORP | 0.25% | 127,100 | $10.5M | New |
| BDX Becton Dickinson and Co. | 0.25% | 42,778 | $10.3M | No change |
| HLT Hilton Worldwide Holdings Inc. | 0.24% | 42,307 | $9.9M | New |
| NKE Nike Inc. Class B | 0.24% | 110,520 | $9.9M | Add +22.2% |
| ICLN iShares Global Clean Energy | 0.23% | 660,000 | $9.4M | New |
| CL Colgate-Palmolive Co. | 0.21% | 84,446 | $8.8M | Add +2.9% |
| MIDD Middleby Corp. | 0.09% | 27,444 | $3.9M | Reduce -59.1% |
| OTEX Open Text Corp. | 0.05% | 66,000 | $2.2M | Add +33.6% |
| WCN Waste Connections Inc. | 0.05% | 12,000 | $2.1M | New |
| CVE Cenovus Energy Inc. | 0.05% | 120,000 | $2.0M | Reduce -96.9% |
| DEO Diageo PLC-Sponsored ADR | 0.03% | 9,167 | $1.3M | New |
| LULU Lululemon Athletica Inc. | 0.03% | 4,000 | $1.1M | New |
| CIGI Colliers Intl GR-Subord Vot | 0.02% | 6,312 | $937K | Reduce -85.5% |
| STN Stantec Inc. | 0.01% | 7,538 | $605K | Reduce -92.1% |
| FNV Franco-Nevada Corp. | 0.01% | 4,714 | $592K | Reduce -98.2% |
| FTS Fortis Inc. | 0.01% | 12,968 | $591K | No change |
| TD Toronto-Dominion Bank | 0.01% | 8,138 | $516K | New |
| MGA Magna International Inc. | 0.01% | 10,285 | $439K | Reduce -99.2% |
| LNG Cheniere Energy Inc. | 0.01% | 2,650 | $364K | New |
| FSV Firstservice Corp. | 0.01% | 1,870 | $337K | Reduce -93.8% |
| FERG Ferguson Enterprises Inc. | 0.00% | 205 | $41K | New |
| HCA HCA Healthcare Inc. | 0.00% | 102 | $41K | New |
| SYY Sysco Corp. | 0.00% | 491 | $38K | New |
| CDW CDW Corp. | 0.00% | 164 | $37K | New |
| NTB Bank of N.T. Butterfield&son | 0.00% | 476 | $17K | New |
Portfolio Sells Q2 2024 → Q3 2024
| DGEAF Diageo PLC | Sold out | 0.00% | −4.66 |
| MSFT Microsoft Corp. | Reduce -84.1% | 1.02% | −3.83 |
| GOOGL Alphabet Inc. Class A | Reduce -82.3% | 0.91% | −2.76 |
| AZO AutoZone Inc. | Reduce -83.3% | 0.75% | −2.66 |
| MA Mastercard Inc. Class A | Reduce -85.7% | 0.62% | −2.63 |
| ICHGF Intercontinental Hotels Grou | Sold out | 0.00% | −2.35 |
| MCO Moody's Corp. | Reduce -83.9% | 0.79% | −2.33 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -70.5% | 2.16% | −2.15 |
| CVS CVS Health Corp. | Sold out | 0.00% | −2.02 |
| SHW The Sherwin-Williams Co. | Reduce -83.4% | 0.49% | −1.57 |
| OTIS Otis Worldwide Corp. | Reduce -87.3% | 0.32% | −1.55 |
| CME Cme Group Inc. | Reduce -85.1% | 0.36% | −1.47 |
| CVE Cenovus Energy Inc. | Reduce -96.9% | 0.05% | −1.40 |
| MGA Magna International Inc. | Reduce -99.2% | 0.01% | −1.26 |
| JNJ Johnson & Johnson | Reduce -83.2% | 0.35% | −1.21 |
| MSCI MSCI Inc. | Reduce -83.7% | 0.32% | −1.16 |
| MTD Mettler-Toledo International | Reduce -85.5% | 0.29% | −1.11 |
| GGG Graco Inc. | Reduce -78.3% | 0.29% | −0.82 |
| GE General Electric | Reduce -55.9% | 1.18% | −0.77 |
| FITB Fifth Third Bancorp | Sold out | 0.00% | −0.76 |
| ASMLF ASML Holding NV | Sold out | 0.00% | −0.68 |
| FNV Franco-Nevada Corp. | Reduce -98.2% | 0.01% | −0.56 |
| SAPGF Sap SE | Sold out | 0.00% | −0.56 |
| SLF Sun Life Financial Inc. | Sold out | 0.00% | −0.54 |
| SLB SLB Ltd. | Sold out | 0.00% | −0.45 |
| EMR Emerson Electric Co. | Reduce -40.8% | 1.18% | −0.42 |
| XES SS SPDR S&P Og Eqp & Serv | Sold out | 0.00% | −0.31 |
| CCJ Cameco Corp. | Sold out | 0.00% | −0.29 |
| NOC Northrop Grumman Corp. | Reduce -39.4% | 1.04% | −0.16 |
| CNC Centene Corp. | Sold out | 0.00% | −0.15 |
| CNI Canadian Natl Railway Co. | Sold out | 0.00% | −0.14 |
| STN Stantec Inc. | Reduce -92.1% | 0.01% | −0.13 |
| FSLR First Solar Inc. | Sold out | 0.00% | −0.13 |
| ENPH Enphase Energy Inc. | Sold out | 0.00% | −0.13 |
| SPY SS SPDR S&P 500 ETF Trust-US | Sold out | 0.00% | −0.12 |
| DSGX The Descartes Systems Grp | Sold out | 0.00% | −0.11 |
| MIDD Middleby Corp. | Reduce -59.1% | 0.09% | −0.11 |
| FSV Firstservice Corp. | Reduce -93.8% | 0.01% | −0.08 |
| CIGI Colliers Intl GR-Subord Vot | Reduce -85.5% | 0.02% | −0.08 |
| KVUE Kenvue Inc. | Sold out | 0.00% | −0.07 |
| GRP.U Granite Real Estate Investme | Sold out | 0.00% | −0.07 |
| AGI Alamos Gold Inc. Class A | Sold out | 0.00% | −0.05 |
| RGLD Royal Gold Inc. | Sold out | 0.00% | −0.05 |
| NTR Nutrien Ltd. | Sold out | 0.00% | −0.04 |
| BN Brookfield Corp. | Sold out | 0.00% | −0.03 |
| TRP TC Energy Corp. | Sold out | 0.00% | −0.03 |
| ENB Enbridge Inc. | Sold out | 0.00% | −0.03 |
| FISV Fiserv Inc. | Reduce -33.5% | 0.72% | −0.03 |
| SU Suncor Energy Inc. | Sold out | 0.00% | −0.03 |
| ERO Ero Copper Corp. | Sold out | 0.00% | −0.01 |
Portfolio Buys Q2 2024 → Q3 2024
| UNH Unitedhealth Group Inc. | New | 5.20% | +5.20 |
| WFC Wells Fargo & Co. | New | 3.86% | +3.86 |
| V Visa Inc. Class A | New | 3.17% | +3.17 |
| WPM Wheaton Precious Metals Corp. | New | 2.72% | +2.72 |
| EQT Eqt Corp. | New | 2.16% | +2.16 |
| ADI Analog Devices Inc. | Add +54.0% | 3.38% | +1.94 |
| MAR Marriott International Class A | New | 1.86% | +1.86 |
| MTB M & T Bank Corp. | Add +29.4% | 2.48% | +1.26 |
| RRC Range Resources Corp. | Add +114.9% | 1.95% | +1.16 |
| DLTR Dollar Tree Inc. | New | 1.12% | +1.12 |
| VRSN Verisign Inc. | New | 1.12% | +1.12 |
| ELV Elevance Health Inc. | Add +2.7% | 4.30% | +1.11 |
| RBA RB Global Inc. | Add +22.0% | 2.74% | +1.10 |
| ALC Alcon Inc. | New | 0.77% | +0.77 |
| QSR Restaurant Brands Intern | Add +7.4% | 3.48% | +0.70 |
| LBRT Liberty Energy Inc. | Add +20.4% | 1.91% | +0.59 |
| CNQ Canadian Natural Resources | Add +225.9% | 1.24% | +0.56 |
| UL Unilever PLC | New | 0.56% | +0.56 |
| TJX TJX Companies Inc. | New | 0.45% | +0.45 |
| SPGI S&P Global Inc. | Add +7.6% | 0.89% | +0.36 |
| RCI Rogers Communications Inc. Class B | Add +14.3% | 1.10% | +0.34 |
| FDX FedEx Corp. | Add +1.8% | 1.61% | +0.29 |
| PTEN Patterson-Uti Energy Inc. | Add +15942.1% | 0.28% | +0.27 |
| EXE Expand Energy Corp. | New | 0.25% | +0.25 |
| HLT Hilton Worldwide Holdings Inc. | New | 0.24% | +0.24 |
| ICLN iShares Global Clean Energy | New | 0.23% | +0.23 |
| HDB HDFC Bank Ltd.-ADR | Add +3.2% | 0.45% | +0.16 |
| AON Aon PLC Class A | Add +3.1% | 0.44% | +0.13 |
| NKE Nike Inc. Class B | Add +22.2% | 0.24% | +0.08 |
| CL Colgate-Palmolive Co. | Add +2.9% | 0.21% | +0.07 |
| WCN Waste Connections Inc. | New | 0.05% | +0.05 |
| DEO Diageo PLC-Sponsored ADR | New | 0.03% | +0.03 |
| LULU Lululemon Athletica Inc. | New | 0.03% | +0.03 |
| OTEX Open Text Corp. | Add +33.6% | 0.05% | +0.02 |
| TD Toronto-Dominion Bank | New | 0.01% | +0.01 |
| LNG Cheniere Energy Inc. | New | 0.01% | +0.01 |
| FERG Ferguson Enterprises Inc. | New | 0.00% | +0.00 |
| HCA HCA Healthcare Inc. | New | 0.00% | +0.00 |
| CDW CDW Corp. | New | 0.00% | +0.00 |
| SYY Sysco Corp. | New | 0.00% | +0.00 |
| NTB Bank of N.T. Butterfield&son | New | 0.00% | +0.00 |
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 |