Canoe Financial LP

CIK 1908219 · View on SEC EDGAR ↗

Portfolio value
$8.1B
#571 of 9,443 by 13F value · top 6.0%
Positions
110
As of
June 30, 2026

Portfolio value QoQ: +10.1% 13F does not disclose cash

Top 10 holdings weight
33.37%
Top 25 holdings weight
63.63%
Positions above 1%
43
Effective number of positions
45.1

Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)

Turnover Q2 2026: 8.23% Est. buys $1,020,805,407 · sells $633,753,960

Median holding: 5.0 quarters Tracked Q4 2024–Q2 2026 · 68.3% still held

New positions
5
Increased
41
Decreased
57
Closed
7
On this page

Performance vs S&P 500

Tracked Q4 2024–Q2 2026
+25.4%
S&P 500 total return (same window)
+28.1%
Excess return
-2.7%

Annualized: +16.3% · S&P 500: +18.0%

Approximates a buy-and-hold portfolio built from quarterly SEC 13F snapshots. Excludes cash, short positions, options/derivatives, and non-13(f) securities — reflects the disclosed long-equity book only, not total fund AUM. SEC filing lag is up to 45 days; this is not a real-time-copyable timing.

Priceable coverage: 95.8% · Options excluded: 0.0%

Sector breakdown

Industrials
18.8%
Energy
16.9%
Financial Services
11.5%
Health Care
11.3%
Technology
10.5%
Materials
8.0%
Retail
5.9%
Financials
5.2%
Communication Services
3.2%
Consumer Discretionary
3.2%
Consumer Staples
2.4%
Utilities
0.1%
Consumer products
0.1%
Real Estate
0.0%
Other/Unmapped
2.7%

Full portfolio 110 positions

Type Streak 8Q trend
CNI Canadian National Railway Company Common Stock $406,266,043 5.04% 3,407,690 $53,738,676 Down ×1
SLB SLB Limited Common Shares $358,922,140 4.45% 7,720,416 $141,302,346 Up ×2
TSM Taiwan Semiconductor Manufacturing Company Ltd. $344,122,615 4.26% 720,570 $51,873,593 Down ×5
GOOGL Alphabet Inc. - Class A Common Stock $257,704,510 3.19% 721,114 $11,290,320 Down ×5
QSR Restaurant Brands International Inc. Common Shares $243,102,095 3.01% 3,354,908 $-4,561,632 Up ×2
V Visa Inc. $227,578,459 2.82% 663,320 $21,451,686 Down ×1
CVS CVS Health Corporation Common Stock $226,952,024 2.81% 2,193,833 $71,105,425 Up ×5
OTIS Otis Worldwide Corporation Common Stock $217,970,878 2.70% 3,044,286 $29,098,979 Up ×1
EQT EQT Corporation Common Stock $213,384,024 2.64% 4,013,241 $23,088,842 Up ×2
HAL Halliburton Company Common Stock $196,554,136 2.44% 5,789,518 $38,029,491 Up ×1
CP Canadian Pacific Kansas City Limited Common Shares $192,873,520 2.39% 2,226,842 $32,988,350 Up ×2
PM Philip Morris International Inc Common Stock $183,833,144 2.28% 1,016,158 $20,482,515 Up ×2
JNJ Johnson & Johnson Common Stock $181,902,711 2.25% 716,237 $7,123,711 Up ×3
MSFT Microsoft Corporation - Common Stock $173,786,661 2.15% 465,891 $-16,233,075 Down ×6
ROST Ross Stores, Inc. - Common Stock $170,383,871 2.11% 800,488 $-1,601,069 Up ×3
MCO Moody's Corporation Common Stock $168,994,416 2.09% 373,122 $-1,964,107 Down ×2
RBA RB Global, Inc. Common Stock $162,924,317 2.02% 1,400,855 $31,938,328 Up ×2
CTVA Corteva, Inc. Common Stock $158,135,793 1.96% 1,867,231 $50,552,287 Up ×1
Unknown issuer (CUSIP: G4804L163) $155,482,152 1.93% 902,654 $16,136,060 Down ×2
TMO Thermo Fisher Scientific Inc Common Stock $155,418,592 1.93% 309,994 $76,284,720 Up ×2
DE Deere & Company Common Stock $152,195,431 1.89% 239,931 $51,580,475 Up ×1
MA Mastercard Incorporated Common Stock $151,512,514 1.88% 295,001 $224,960 Down ×2
TXN Texas Instruments Incorporated - Common Stock $148,664,201 1.84% 498,756 $52,587,033 Up ×2
RY Royal Bank Of Canada Common Stock $144,567,354 1.79% 698,838 $32,487,135 Up ×2
ELV Elevance Health, Inc. Common Stock $140,577,902 1.74% 363,504 $33,054,633 Down ×3
ADI Analog Devices, Inc. - Common Stock $140,275,678 1.74% 353,188 $29,090,520 Up ×1
NTR Nutrien Ltd. Common Shares $134,211,681 1.66% 2,132,438 $34,608,235 Up ×1
LMT Lockheed Martin Corporation Common Stock $132,976,702 1.65% 261,015 $-23,001,852 Up ×1
AZO AutoZone, Inc. Common Stock $131,292,411 1.63% 41,081 $-18,887,066 Down ×6
WFC Wells Fargo & Company Common Stock $129,561,835 1.61% 1,567,786 $20,425,999 Up ×1
RRC Range Resources Corporation Common Stock $123,024,185 1.52% 3,307,991 $19,548,024 Up ×3
MTB M&T Bank Corporation Common Stock $119,116,627 1.48% 500,469 $17,140,824 Up ×1
EFXT Enerflex Ltd Common Shares $115,356,888 1.43% 4,701,871 $18,546,976 Up ×1
CME CME Group Inc. - Class A Common Stock $108,260,141 1.34% 490,242 $-38,352,190 Down ×5
DHR Danaher Corporation Common Stock $106,328,603 1.32% 558,214 Up ×1
EMR Emerson Electric Company Common Stock $103,993,035 1.29% 726,462 $71,837,451 Up ×3
SHW Sherwin-Williams Company (The) Common Stock $101,538,935 1.26% 294,897 $-850,184 Down ×2
TECK Teck Resources Ltd Ordinary Shares $100,764,441 1.25% 1,693,501 $13,683,468 Up ×1
ICE Intercontinental Exchange Inc. Common Stock $100,653,012 1.25% 817,586 $28,071,438 Up ×1
MSCI MSCI Inc. Common Stock $100,555,742 1.25% 179,551 $973,105 Down ×3
TJX TJX Companies, Inc. (The) Common Stock $100,159,226 1.24% 661,117 $-14,587,939 Down ×6
CVE Cenovus Energy Inc Common Stock $98,144,760 1.22% 3,959,392 $-13,580,870 Down ×2
CNQ Canadian Natural Resources Limited Common Stock $96,350,510 1.19% 2,437,345 $-71,081,698 Down ×4
CARR Carrier Global Corporation Common Stock $73,210,635 0.91% 998,100 $12,387,388 Down ×2
WPM Wheaton Precious Metals Corp Common Shares (Canada) $67,299,872 0.83% 598,860 $7,504,446 Up ×1
AEM Agnico Eagle Mines Limited Common Stock $66,422,731 0.82% 427,922 $-5,982,030 Up ×1
MTD Mettler-Toledo International, Inc. Common Stock $64,251,088 0.80% 50,294 $-1,109,341 Down ×4
AMZN Amazon.com, Inc. - Common Stock $64,161,128 0.80% 269,200 $45,250,212 Up ×2
WFRD Weatherford International plc - Ordinary shares $55,591,150 0.69% 682,100 $5,539,414 Up ×1
FISV Fiserv, Inc. - Common Stock $49,185,133 0.61% 1,002,755 $22,655,023 Up ×1
RIG Transocean Ltd (Switzerland) Common Stock $42,457,914 0.53% 8,682,600 $18,779,532 Up ×1
NOC Northrop Grumman Corporation Common Stock $27,471,672 0.34% 53,939 $-8,927,879 Up ×2
HP Helmerich & Payne, Inc. Common Stock $26,884,844 0.33% 821,162 $-6,244,741 Down ×1
EXE Expand Energy Corporation - Common Stock $22,232,669 0.28% 243,806 $-97,350,685 Down ×1
KLAC KLA Corporation - Common Stock $22,024,830 0.27% 73,000 $15,369,537 Up ×1
UNH UnitedHealth Group Incorporated Common Stock (DE) $21,129,798 0.26% 50,838 $8,839,871 Up ×1
SPGI S&P Global Inc. Common Stock $19,605,089 0.24% 48,139 $-2,757,587 Down ×5
BGSI Boyd Group Services Inc. Common Shares $18,044,160 0.22% 190,754 $-13,876,474 Down ×2
AON Aon plc Class A Ordinary Shares (Ireland) $15,201,021 0.19% 45,829 $-2,612,884 Down ×4
TDW Tidewater Inc. Common Stock $14,022,683 0.17% 210,456 $-8,936,857 Down ×1
Unknown issuer (CUSIP: D66992104) $12,754,056 0.16% 83,330 $-6,157,127 Down ×1
LOW Lowe's Companies, Inc. Common Stock $12,577,632 0.16% 57,044 $2,114,208 Up ×1
LIN Linde plc - Ordinary Shares $12,370,492 0.15% 23,838 $-538,107 Down ×2
ALC Alcon Inc. Ordinary Shares $11,990,277 0.15% 177,528 $-5,224,398 Down ×3
HLT Hilton Worldwide Holdings Inc. Common Stock $10,656,344 0.13% 32,247 $-694,050 Down ×4
Unknown issuer (CUSIP: G42089113) $9,137,212 0.11% 452,530 $-2,547,926 Down ×2
RAL Ralliant Corporation Common Stock $9,036,463 0.11% 122,728 $4,102,974 Up ×2
Unknown issuer (CUSIP: G92087165) $8,782,864 0.11% 146,048 $-4,391,858 Down ×2
TAC TransAlta Corporation Ordinary Shares $7,601,180 0.09% 550,000 Up ×1
PPHC Public Policy Holding Company, Inc. - Common Stock $7,541,394 0.09% 1,017,732 $-4,860,090 Down ×1
Unknown issuer (CUSIP: G93824103) $7,351,383 0.09% 907,233 $382,325 Down ×2
PEP PepsiCo, Inc. - Common Stock $7,235,776 0.09% 53,440 $-2,926,402 Down ×6
CL Colgate-Palmolive Company Common Stock $6,715,193 0.08% 73,246 $-38,944 Down ×3
HDB HDFC Bank Limited Common Stock $6,423,404 0.08% 248,680 $-2,112,426 Down ×3
GGG Graco Inc. Common Stock $5,857,582 0.07% 77,471 $-31,538,587 Down ×6
CPRT Copart, Inc. - Common Stock $5,565,467 0.07% 197,427 $-2,429,989 Down ×2
GDXJ $5,553,090 0.07% 56,520 $-1,354,732 Down ×1
SPY SPY $5,468,015 0.07% 14,315 $-1,593,440 Up ×1
CRM Salesforce, Inc. Common Stock $5,091,450 0.06% 32,500 $-975,325
VRSN VeriSign, Inc. - Common Stock $5,035,980 0.06% 20,019 $236,423 Up ×1
GIB CGI Inc. Common Stock $4,197,203 0.05% 65,000 $-553,102
ABT Abbott Laboratories Common Stock $3,629,600 0.04% 40,000 $-477,200
FSV FirstService Corporation - Common Shares $3,428,104 0.04% 24,132 $-42,781 Down ×3
DSGX The Descartes Systems Group Inc. - Common Stock $3,365,004 0.04% 48,632 $-1,286,646 Down ×2
AGI Alamos Gold Inc. Class A Common Shares $3,356,831 0.04% 110,826 $-1,792,564 Down ×3
NTB Bank of N.T. Butterfield & Son Limited (The) Voting Ordinary Shares $3,085,670 0.04% 51,860 $-8,866 Down ×3
EFA $3,021,370 0.04% 26,620
ROP Roper Technologies, Inc. - Common Stock $3,008,625 0.04% 8,891 $-388,077 Down ×2
MAR Marriott International - Class A Common Stock $2,932,849 0.04% 7,914 $-30,269,008 Down ×4
EFX Equifax, Inc. Common Stock $2,799,345 0.03% 17,637 $-376,550
KGC Kinross Gold Corporation Common Stock $2,757,696 0.03% 116,586 $-1,465,553 Down ×3
WTW Willis Towers Watson Public Limited Company - Ordinary Shares $2,672,508 0.03% 10,225 $-1,431,013 Down ×2
OR OR Royalties Inc. Common Shares $2,522,290 0.03% 79,732 $521,177 Up ×1
STN Stantec Inc Common Stock $2,397,598 0.03% 34,796 $-3,060,270 Down ×3
ATS ATS Corporation Common Shares $2,390,748 0.03% 83,024 $-72,706 Down ×1
AXP American Express Company Common Stock $2,124,887 0.03% 6,282 $-2,866,033 Down ×4
WCN Waste Connections, Inc. Common Shares $1,998,157 0.02% 12,000 $49,141
CI The Cigna Group Common Stock $1,606,112 0.02% 5,826 $-115,759 Down ×2
SYF Synchrony Financial Common Stock $1,604,199 0.02% 21,094 $169,385
Unknown issuer (CUSIP: 866966104) $1,252,805 0.02% 17,178 $-71,874,832 Down ×1

Conviction holdings

Positions increased for 3+ consecutive quarters.

Share counts are as reported in 13F filings (not split-adjusted)

Security Value % of portfolio Streak
CVS $226,952,024 2.81% up ×5
JNJ $181,902,711 2.25% up ×3
ROST $170,383,871 2.11% up ×3
RRC $123,024,185 1.52% up ×3
EMR $103,993,035 1.29% up ×3

Biggest new bets

New positions opened this quarter, largest first.

Security Value Shares % of portfolio
DHR $106,328,603 558,214 1.32%
TAC $7,601,180 550,000 0.09%
EFA $3,021,370 26,620 0.04%
FEZ $1,144,000 20,800 0.01%
SLM $888,964 34,270 0.01%

Top movers (QoQ)

Security Action Shares Δ Value Δ
SLB Bought more +3.5M +$141.3M
TMO Bought more +149K +$76.3M
EMR Bought more +481K +$71.8M
CVS Bought more +24K +$71.1M
CNQ Trimmed -996K -$71.1M
CNI Trimmed -19K +$53.7M
TXN Bought more +4K +$52.6M
TSM Trimmed -144K +$51.9M
DE Bought more +61K +$51.6M
CTVA Bought more +582K +$50.6M

2 positions hidden (data completeness check)

Exited positions

Includes corporate events (mergers, delistings) — not all exits are sells

Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.

SecurityQuarter Shares before Value before Price since exit
SYY Dec. 31, 2025 1,427,181 $117,514,084 11.6%
DFS June 30, 2025 594,385 $101,461,520 No longer tracked
BRKB March 31, 2026 162,228 $81,543,904 No longer tracked
MDT June 30, 2026 743,236 $64,401,399 19.9%
HCA Sept. 30, 2025 164,896 $63,171,658 -1.3%
CRM Dec. 31, 2025 244,683 $57,989,871 -23.8%
CB March 31, 2026 143,043 $44,646,581 6.8%
RCI March 31, 2026 1,138,837 $42,989,691 -5.3%
FDX March 31, 2025 150,306 $42,285,587 38.5%
DLTR June 30, 2025 475,221 $35,674,840 36.1%
ICLR March 31, 2026 193,917 $35,335,556 56.9%
CTRA June 30, 2025 837,200 $24,195,080 No longer tracked
VRSN June 30, 2025 92,261 $23,422,300 -4.0%
BTE Dec. 31, 2025 8,300,000 $19,438,467 47.8%
FTV Sept. 30, 2025 336,574 $17,545,603 22.8%
GPOR March 31, 2025 75,000 $13,815,000 -5.8%
GPOR Sept. 30, 2025 65,900 $13,257,103 -4.2%
ORCL March 31, 2026 57,678 $11,242,019 -5.4%
BAM June 30, 2026 162,000 $7,200,156 17.0%
BDX June 30, 2025 28,741 $6,583,413 37.2%
LBRT June 30, 2025 381,139 $6,033,430 80.2%
SU Dec. 31, 2025 143,300 $5,995,617 55.3%
PBA Sept. 30, 2025 135,000 $5,072,684 22.7%
NKE June 30, 2026 91,920 $4,855,214 -0.2%
DEO June 30, 2025 45,000 $4,715,550 -9.3%
FDS June 30, 2026 19,915 $4,321,356 28.4%
DEO Dec. 31, 2025 45,000 $4,294,350 6.0%
OTEX March 31, 2025 150,000 $4,242,110 -3.2%
EFA Dec. 31, 2025 45,701 $4,158,791 No longer tracked
GRTUF June 30, 2026 60,729 $3,569,740 No longer tracked
JKHY March 31, 2026 15,457 $2,820,593 4.0%
SMH June 30, 2025 1,665 $1,948,050 99.8%
ADBE June 30, 2026 8,000 $1,944,640 32.1%
GOLD March 31, 2025 120,000 $1,859,521 76.6%
ERO March 31, 2026 64,358 $1,820,787 27.5%
TFII March 31, 2026 16,200 $1,674,537 31.7%
CVE June 30, 2025 120,000 $1,668,000 141.7%
SPY June 30, 2025 1,250 $1,553,125 No longer tracked
RGLD March 31, 2026 6,210 $1,380,421 -3.7%
REXR Sept. 30, 2025 34,505 $1,227,343 -7.3%
VNOM March 31, 2026 25,000 $965,750 -6.2%
XOP Dec. 31, 2025 4,488 $869,632 No longer tracked
HII Dec. 31, 2025 2,639 $759,794 -7.4%
COF June 30, 2026 3,727 $679,917 11.8%
FERG Dec. 31, 2025 2,772 $622,536 11.8%
ABNB Dec. 31, 2025 4,866 $590,830 37.8%
XLE Dec. 31, 2025 12,000 $570,000 No longer tracked
FTS March 31, 2025 11,492 $477,197 23.8%
FNV Sept. 30, 2025 2,858 $469,574 11.6%
UNP March 31, 2026 1,873 $433,262 26.3%
HUM June 30, 2025 562 $148,705 56.4%
QQQ Dec. 31, 2025 107 $79,394
CDW March 31, 2025 276 $48,035 -16.1%
URA Dec. 31, 2025 395 $47,400 No longer tracked
IMO Dec. 31, 2025 2,900 $45,372 No longer tracked
VRN March 31, 2025 20,000 $35,700 No longer tracked