Louisbourg Investments Inc.
In its 13F for Q2 2026 (holdings as of June 30, 2026, filed July 23, 2026), Louisbourg Investments Inc. reported 210 stock positions worth $542.1 million. Its top holding was Canadian Natl Railway (CNI) at 5.5% of the portfolio, followed by Shopify Class A (SHOP, 3.2%) and Teck Resources Ltd.-CLS B (TECK, 2.7%). Compared with Q1 2026, it opened 11 new positions, sold out of 17, added to 79 and reduced 57. The biggest buy was a new position in Blackberry (BB) and the biggest sale an exit from SSR Mining (SSRM).
- Most Recent 13F
- Q2 2026
- Location
- DIEPPE, A3
- CIK
- 0002053050
- Portfolio Value
- $542.1M (Q2 2026)
- SEC Filing
- 0002053050-26-000003 ↗ filed Jul 23, 2026
Holdings Value
Holdings 210 stocks · $542.1M
| CNI Canadian Natl Railway Co. | 5.53% | 251,810 | $30.0M | Reduce -12.4% |
| SHOP Shopify Inc. Class A | 3.24% | 153,670 | $17.5M | Add +24.3% |
| TECK Teck Resources Ltd.-CLS B | 2.71% | 247,135 | $14.7M | Add +40.5% |
| GOOG Alphabet Inc. Class C | 2.45% | 45,181 | $13.3M | Reduce -11.6% |
| IVV iShares Core S&P 500 ETF | 2.38% | 17,250 | $12.9M | Reduce -6.5% |
| SU Suncor Energy Inc. | 2.36% | 238,093 | $12.8M | Add +189.6% |
| TSM Taiwan Semiconductor-SP ADR | 2.33% | 30,530 | $12.6M | Reduce -18.8% |
| MSFT Microsoft Corp. | 2.29% | 41,327 | $12.4M | Reduce -3.5% |
| CVE Cenovus Energy Inc. | 2.24% | 491,348 | $12.2M | Add +118.2% |
| BN Brookfield Corp. | 2.12% | 269,568 | $11.5M | Add +1.8% |
| VOO Vanguard S&P 500 ETF | 1.82% | 14,348 | $9.9M | Add +3.5% |
| IEFA iShares Core MSCI Eafe ETF | 1.76% | 98,511 | $9.5M | Add +3.5% |
| AMZN Amazon.com Inc. | 1.75% | 49,875 | $9.5M | Add +0.9% |
| AVGO Broadcom Inc. | 1.66% | 28,622 | $9.0M | Reduce -2.5% |
| BB Blackberry Ltd. | 1.58% | 679,400 | $8.6M | New |
| CRM Salesforce Inc. | 1.56% | 68,166 | $8.4M | Add +25.9% |
| CIGI Colliers Intl GR-Subord Vot | 1.50% | 86,932 | $8.1M | Add +14.6% |
| GIL Gildan Activewear Inc. | 1.46% | 153,538 | $7.9M | Reduce -1.3% |
| NTR Nutrien Ltd. | 1.43% | 123,328 | $7.8M | Add +71.2% |
| META Meta Platforms Inc. Class A | 1.43% | 17,224 | $7.7M | Add +15.7% |
| TMUS T-Mobile US Inc. | 1.36% | 56,392 | $7.4M | Add +27.2% |
| WPM Wheaton Precious Metals Corp. | 1.35% | 65,229 | $7.3M | Reduce -23.8% |
| TRI Thomson Reuters Corp. | 1.34% | 89,435 | $7.3M | Add +24.8% |
| MDA Mda Space Ltd. | 1.31% | 172,125 | $7.1M | Add +2403.6% |
| CNQ Canadian Natural Resources | 1.29% | 176,650 | $7.0M | Add +32.8% |
| STN Stantec Inc. | 1.29% | 101,252 | $7.0M | Add +28.9% |
| PBA Pembina Pipeline Corp. | 1.21% | 141,477 | $6.5M | Add +9.3% |
| BGSI Boyd Group Services Inc. | 1.19% | 68,068 | $6.4M | Add +32.9% |
| LSPD Lightspeed Commerce Inc. | 1.11% | 577,980 | $6.0M | Reduce -14.1% |
| BRK.A Berkshire Hathaway Inc. Class A | 1.11% | 8 | $6.0M | No change |
| BSX Boston Scientific Corp. | 1.10% | 182,953 | $6.0M | Add +117.6% |
| OTIS Otis Worldwide Corp. | 1.07% | 103,067 | $5.8M | Add +23.1% |
| DSGX The Descartes Systems Grp | 1.06% | 83,216 | $5.8M | Add +4.4% |
| BDX Becton Dickinson and Co. | 1.04% | 48,315 | $5.6M | Add +4.7% |
| CSGP Costar Group Inc. | 1.01% | 256,336 | $5.5M | Add +46.4% |
| FNV Franco-Nevada Corp. | 1.01% | 26,363 | $5.5M | Reduce -11.6% |
| BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA B C | 1.00% | 62,704 | $5.4M | Reduce -29.9% |
| J Jacobs Solutions Inc. | 1.00% | 53,328 | $5.4M | Add +27.2% |
| OR Or Royalties Inc. | 0.99% | 169,447 | $5.4M | Reduce -23.6% |
| RY Royal Bank of Canada | 0.98% | 25,705 | $5.3M | Reduce -2.0% |
| QSR Restaurant Brands Intern | 0.96% | 71,930 | $5.2M | Add +19.8% |
| HBM Hudbay Minerals Inc. | 0.96% | 220,100 | $5.2M | Reduce -23.0% |
| AG First Majestic Silver Corp. | 0.95% | 304,700 | $5.2M | Add +9.0% |
| MEOH Methanex Corp. | 0.93% | 108,820 | $5.0M | Add +544000.0% |
| WTW Willis Towers Watson PLC | 0.92% | 24,991 | $5.0M | Add +11.2% |
| ABT Abbott Laboratories | 0.87% | 67,648 | $4.7M | Add +14.1% |
| VWO Vanguard Ftse Emerging Marke | 0.85% | 77,276 | $4.6M | Add +3.5% |
| TD Toronto-Dominion Bank | 0.85% | 37,773 | $4.6M | Reduce -20.1% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.83% | 58,773 | $4.5M | Reduce -0.7% |
| FSV Firstservice Corp. | 0.82% | 31,490 | $4.5M | Add +3.6% |
| RCI Rogers Communications Inc. Class B | 0.79% | 131,920 | $4.3M | Add +4.0% |
| CBRE CBRE Group Inc. Class A | 0.78% | 38,605 | $4.2M | Add +47.1% |
| CTSH Cognizant Tech Solutions-A | 0.76% | 137,159 | $4.1M | Add +75.8% |
| COP Conocophillips | 0.75% | 50,778 | $4.0M | Add +15.1% |
| DLTR Dollar Tree Inc. | 0.74% | 41,416 | $4.0M | Reduce -0.5% |
| A Agilent Technologies Inc. | 0.73% | 36,056 | $4.0M | Reduce -22.2% |
| GFR Greenfire Resources Ltd. | 0.69% | 661,980 | $3.7M | Add +60.7% |
| GIB Cgi Inc. | 0.68% | 57,105 | $3.7M | Reduce -27.5% |
| ELE Elemental Royalty Corp. | 0.67% | 209,002 | $3.7M | Add +78.1% |
| URI United Rentals Inc. | 0.67% | 3,689 | $3.6M | Reduce -57.6% |
| KKR KKR & Co. Inc. | 0.63% | 47,424 | $3.4M | Reduce -16.6% |
| V Visa Inc. Class A | 0.62% | 12,869 | $3.4M | Add +1.1% |
| TTEK Tetra Tech Inc. | 0.62% | 147,261 | $3.4M | Add +22.8% |
| SAP Sap SE-Sponsored ADR | 0.62% | 21,680 | $3.3M | Add +22.6% |
| BNY Bank of New York Mellon Corp. | 0.60% | 29,885 | $3.2M | Reduce -22.4% |
| ALLE Allegion PLC | 0.60% | 28,811 | $3.2M | Add +19.4% |
| ATS Ats Corp. | 0.59% | 111,104 | $3.2M | Add +30.9% |
| MARSH & MCLENNAN COS INC (MRSH 4.35 01/30/47) | 0.59% | 25,536 | $3.2M | Add +0.4% |
| DHR Danaher Corp. | 0.57% | 21,855 | $3.1M | Add +14.5% |
| DG Dollar General Corp. | 0.57% | 35,364 | $3.1M | Add +17.8% |
| NFLX Netflix Inc. | 0.56% | 52,363 | $3.0M | Add +21.5% |
| DCBO Docebo Inc. | 0.53% | 160,037 | $2.9M | Add +69.2% |
| MTA Metalla Royalty & Streaming | 0.50% | 355,342 | $2.7M | Reduce -1.4% |
| MCD McDonald's Corp. | 0.45% | 10,620 | $2.4M | Add +0.5% |
| ULTA Ulta Beauty Inc. | 0.43% | 6,754 | $2.3M | Add +23.8% |
| JNJ Johnson & Johnson | 0.43% | 9,986 | $2.3M | Reduce -52.5% |
| UNP Union Pacific Corp. | 0.42% | 9,551 | $2.3M | Reduce -47.0% |
| GOOGL Alphabet Inc. Class A | 0.42% | 6,315 | $2.3M | Reduce -0.2% |
| COST Costco Wholesale Corp. | 0.38% | 2,200 | $2.1M | No change |
| WFC Wells Fargo & Co. | 0.37% | 32,092 | $2.0M | Add +0.8% |
| SUNB Sunbelt Rentals Holdings Inc. | 0.36% | 27,187 | $1.9M | Reduce -16.6% |
| WMT Walmart Inc. | 0.36% | 17,000 | $1.9M | No change |
| CP Canadian Pacific Kansas City | 0.33% | 20,754 | $1.8M | Reduce -0.4% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.30% | 10,839 | $1.6M | Add +1.8% |
| BMO Bank of Montreal filed as BANK MONTREAL MEDIUM | 0.27% | 8,422 | $1.5M | Add +0.3% |
| ENTG Entegris Inc. | 0.26% | 10,203 | $1.4M | Reduce -64.0% |
| HD Home Depot Inc. | 0.26% | 4,000 | $1.4M | No change |
| FTS Fortis Inc. | 0.26% | 24,371 | $1.4M | Add +27.9% |
| IGF iShares Global Infrastructur | 0.24% | 19,584 | $1.3M | Add +3.0% |
| SHEL Shell PLC-ADR | 0.21% | 14,490 | $1.1M | No change |
| CNP Centerpoint Energy Inc. | 0.20% | 32,334 | $1.1M | Reduce -30.8% |
| BHP BHP Group Ltd.-Spon ADR filed as BHP BILLITON LIMITED | 0.19% | 12,680 | $1.1M | No change |
| SMFG Sumitomo Mitsui-Spons ADR | 0.19% | 44,652 | $1.1M | No change |
| RIO Rio Tinto PLC-Spon ADR | 0.19% | 11,080 | $1.1M | No change |
| MUFG Mitsubishi Ufj Finl-Spon ADR | 0.19% | 52,032 | $1.0M | No change |
| ENB Enbridge Inc. | 0.19% | 18,783 | $1.0M | Add +4.6% |
| ACN Accenture PLC Class A | 0.17% | 9,264 | $914K | Reduce -25.6% |
| ROST Ross Stores Inc. | 0.16% | 4,677 | $893K | Reduce -23.2% |
| NVDA Nvidia Corp. | 0.16% | 4,275 | $855K | Reduce -0.7% |
| TRP TC Energy Corp. | 0.14% | 11,092 | $733K | Add +1.1% |
Portfolio Sells Q1 2026 → Q2 2026
| SSRM SSR Mining Inc. | Sold out | 0.00% | −1.25 |
| UUUU Energy Fuels Inc. | Sold out | 0.00% | −1.17 |
| KGC Kinross Gold Corp. | Sold out | 0.00% | −1.13 |
| IAG Iamgold Corp. | Sold out | 0.00% | −1.13 |
| CDE Coeur Mining Inc. | Sold out | 0.00% | −1.04 |
| EQX Equinox Gold Corp. | Sold out | 0.00% | −1.02 |
| WPM Wheaton Precious Metals Corp. | Reduce -23.8% | 1.35% | −0.77 |
| OR Or Royalties Inc. | Reduce -23.6% | 0.99% | −0.61 |
| GIB Cgi Inc. | Reduce -27.5% | 0.68% | −0.41 |
| JNJ Johnson & Johnson | Reduce -52.5% | 0.43% | −0.40 |
| FNV Franco-Nevada Corp. | Reduce -11.6% | 1.01% | −0.38 |
| URI United Rentals Inc. | Reduce -57.6% | 0.67% | −0.30 |
| UNP Union Pacific Corp. | Reduce -47.0% | 0.42% | −0.26 |
| ENTG Entegris Inc. | Reduce -64.0% | 0.26% | −0.22 |
| ACN Accenture PLC Class A | Reduce -25.6% | 0.17% | −0.20 |
| GIL Gildan Activewear Inc. | Reduce -1.3% | 1.46% | −0.18 |
| HBM Hudbay Minerals Inc. | Reduce -23.0% | 0.96% | −0.17 |
| BNS Bank of Nova Scotia | Reduce -29.9% | 1.00% | −0.17 |
| KKR KKR & Co. Inc. | Reduce -16.6% | 0.63% | −0.15 |
| MSFT Microsoft Corp. | Reduce -3.5% | 2.29% | −0.14 |
| CNP Centerpoint Energy Inc. | Reduce -30.8% | 0.20% | −0.09 |
| A Agilent Technologies Inc. | Reduce -22.2% | 0.73% | −0.09 |
| ROST Ross Stores Inc. | Reduce -23.2% | 0.16% | −0.07 |
| IMO Imperial Oil Ltd. | Sold out | 0.00% | −0.06 |
| BNY Bank of New York Mellon Corp. | Reduce -22.4% | 0.60% | −0.06 |
| CNI Canadian Natl Railway Co. | Reduce -12.4% | 5.53% | −0.05 |
| WDC Western Digital Corp. | Sold out | 0.00% | −0.05 |
| DIS The Walt Disney Co. | Reduce -0.7% | 0.83% | −0.04 |
| ASML ASML Holding NV-NY Reg SHS | Reduce -66.7% | 0.04% | −0.04 |
| TAP Molson Coors Beverage Co. Class B | Sold out | 0.00% | −0.03 |
| LDOS Leidos Holdings Inc. | Sold out | 0.00% | −0.03 |
| SUNB Sunbelt Rentals Holdings Inc. | Reduce -16.6% | 0.36% | −0.03 |
| LSPD Lightspeed Commerce Inc. | Reduce -14.1% | 1.11% | −0.02 |
| LMT Lockheed Martin Corp. | Reduce -80.6% | 0.00% | −0.02 |
| RSP Invesco S&P 500 Equal Weight | Reduce -64.9% | 0.01% | −0.02 |
| B Barrick Mining Corp. | Reduce -10.9% | 0.06% | −0.02 |
| KR Kroger Co. | Reduce -6.3% | 0.03% | −0.01 |
| COR Cencora Inc. | Reduce -31.9% | 0.01% | −0.01 |
| CSCO Cisco Systems Inc. | Reduce -45.9% | 0.04% | −0.01 |
| PFE Pfizer Inc. | Reduce -94.1% | 0.00% | −0.01 |
| CBOE Cboe Global Markets Inc. | Reduce -11.5% | 0.02% | −0.01 |
| MO Altria Group Inc. | Reduce -39.3% | 0.01% | −0.01 |
| FOXA Fox Corp. Class A | Reduce -4.8% | 0.03% | −0.01 |
| WAT Waters Corp. | Reduce -94.0% | 0.00% | −0.01 |
| KO The Coca-Cola Co. | Sold out | 0.00% | −0.00 |
| IVZ Invesco Ltd. | Reduce -16.4% | 0.04% | −0.00 |
| ECL Ecolab Inc. | Sold out | 0.00% | −0.00 |
| WCN Waste Connections Inc. | Reduce -56.3% | 0.00% | −0.00 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -15.4% | 0.05% | −0.00 |
| CRCL Circle Internet Group Inc. | Sold out | 0.00% | −0.00 |
Portfolio Buys Q1 2026 → Q2 2026
| BB Blackberry Ltd. | New | 1.58% | +1.58 |
| SU Suncor Energy Inc. | Add +189.6% | 2.36% | +1.33 |
| MDA Mda Space Ltd. | Add +2403.6% | 1.31% | +1.28 |
| CVE Cenovus Energy Inc. | Add +118.2% | 2.24% | +1.12 |
| TECK Teck Resources Ltd.-CLS B | Add +40.5% | 2.71% | +0.99 |
| MEOH Methanex Corp. | Add +544000.0% | 0.93% | +0.93 |
| SHOP Shopify Inc. Class A | Add +24.3% | 3.24% | +0.47 |
| NTR Nutrien Ltd. | Add +71.2% | 1.43% | +0.40 |
| BSX Boston Scientific Corp. | Add +117.6% | 1.10% | +0.35 |
| ELE Elemental Royalty Corp. | Add +78.1% | 0.67% | +0.26 |
| VOO Vanguard S&P 500 ETF | Add +3.5% | 1.82% | +0.25 |
| DCBO Docebo Inc. | Add +69.2% | 0.53% | +0.21 |
| CBRE CBRE Group Inc. Class A | Add +47.1% | 0.78% | +0.21 |
| GFR Greenfire Resources Ltd. | Add +60.7% | 0.69% | +0.20 |
| AMZN Amazon.com Inc. | Add +0.9% | 1.75% | +0.18 |
| J Jacobs Solutions Inc. | Add +27.2% | 1.00% | +0.17 |
| META Meta Platforms Inc. Class A | Add +15.7% | 1.43% | +0.15 |
| ATS Ats Corp. | Add +30.9% | 0.59% | +0.14 |
| IEFA iShares Core MSCI Eafe ETF | Add +3.5% | 1.76% | +0.13 |
| QSR Restaurant Brands Intern | Add +19.8% | 0.96% | +0.12 |
| PBA Pembina Pipeline Corp. | Add +9.3% | 1.21% | +0.11 |
| TRI Thomson Reuters Corp. | Add +24.8% | 1.34% | +0.10 |
| BN Brookfield Corp. | Add +1.8% | 2.12% | +0.09 |
| OTIS Otis Worldwide Corp. | Add +23.1% | 1.07% | +0.09 |
| VWO Vanguard Ftse Emerging Marke | Add +3.5% | 0.85% | +0.09 |
| CNQ Canadian Natural Resources | Add +32.8% | 1.29% | +0.06 |
| V Visa Inc. Class A | Add +1.1% | 0.62% | +0.06 |
| BMO Bank of Montreal | Add +0.3% | 0.27% | +0.06 |
| FTS Fortis Inc. | Add +27.9% | 0.26% | +0.06 |
| ALLE Allegion PLC | Add +19.4% | 0.60% | +0.05 |
| DG Dollar General Corp. | Add +17.8% | 0.57% | +0.05 |
| TTEK Tetra Tech Inc. | Add +22.8% | 0.62% | +0.05 |
| CRM Salesforce Inc. | Add +25.9% | 1.56% | +0.05 |
| SAP Sap SE-Sponsored ADR | Add +22.6% | 0.62% | +0.04 |
| DVN Devon Energy Corp. | New | 0.04% | +0.04 |
| DOW Dow Inc. | New | 0.03% | +0.03 |
| DHR Danaher Corp. | Add +14.5% | 0.57% | +0.03 |
| FSV Firstservice Corp. | Add +3.6% | 0.82% | +0.03 |
| CTSH Cognizant Tech Solutions-A | Add +75.8% | 0.76% | +0.03 |
| MA Mastercard Inc. Class A | Add +228.1% | 0.04% | +0.02 |
| GS Goldman Sachs Group Inc. | Add +0.8% | 0.11% | +0.01 |
| ARKX ARK Space & Defense Innovati | New | 0.01% | +0.01 |
| MFC Manulife Financial Corp. | Add +0.9% | 0.09% | +0.01 |
| ULTA Ulta Beauty Inc. | Add +23.8% | 0.43% | +0.01 |
| ORLY O'reilly Automotive Inc. | Add +89.3% | 0.01% | +0.01 |
| PAYX Paychex Inc. | Add +22.1% | 0.03% | +0.01 |
| TRP TC Energy Corp. | Add +1.1% | 0.14% | +0.01 |
| RPRX Royalty Pharma PLC Class A | New | 0.01% | +0.01 |
| DGX Quest Diagnostics Inc. | New | 0.00% | +0.00 |
| GD General Dynamics Corp. | New | 0.00% | +0.00 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 210 | $542.1M | CNI, SHOP, TECK, GOOG, IVV |
| Q1 2026 | 216 | $528.8M | CNI, SHOP, MSFT, GOOG, IVV |
| Q4 2025 | 213 | $501.9M | CNI, MSFT, GOOG, IVV, WPM |
| Q3 2025 | 208 | $458.2M | CNI, SHOP, MSFT, WPM, IVV |
| Q2 2025 | 200 | $424.3M | CNI, MSFT, SHOP, IVV, WPM |
| Q1 2025 | 180 | $368.0M | CNI, IVV, SHOP, MSFT, BNS |
| Q4 2024 | 168 | $381.0M | CNI, SHOP, BNS, BN, GIL |
| Q3 2024 | 173 | $395.4M | CNI, BNS, IVV, LSPD, TD |
| Q2 2024 | 169 | $356.9M | CNI, IVV, MSFT, TD, BNS |
| Q1 2024 | 164 | $359.7M | CNI, IVV, MSFT, TD, BNS |