Canoe Financial LP

Name: Canoe Financial LP 13F holdings, Q2 2026
Creator: Canoe Financial LP
Published: 2026-07-16

Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024

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%
TD Toronto-Dominion Bank	0.01%	9,944	$1.2M	Reduce -7.5%
FEZ State Street SPDR Euro Stoxx	0.01%	20,800	$1.1M	New
SLM SLM Corp.	0.01%	34,270	$889K	New
ALLE Allegion PLC	0.01%	4,404	$619K	Add +22.4%
ZTS Zoetis Inc.	0.01%	7,630	$548K	Reduce -32.9%
CIGI Colliers Intl GR-Subord Vot	0.01%	5,340	$501K	Reduce -60.5%
FTS Fortis Inc.	0.00%	6,402	$366K	Reduce -7.5%
SLF Sun Life Financial Inc.	0.00%	4,579	$359K	Reduce -7.4%
IGV iShares Expanded Tech-Softwa	0.00%	750	$285K	No change
BMO Bank of Montreal filed as BANK MONTREAL MEDIUM	0.00%	1,336	$236K	Reduce -7.3%

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