LOUISBOURG INVESTMENTS INC.
CIK 2053050 · View on SEC EDGAR ↗
- Portfolio value
- $542.1M
- Positions
- 210
- As of
- June 30, 2026
#3,584 of 9,443 by 13F value · top 38.0%
Portfolio value QoQ: +2.5% 13F does not disclose cash
- Top 10 holdings weight
- 27.66%
- Top 25 holdings weight
- 50.25%
- Positions above 1%
- 38
- Effective number of positions
- 63.2
Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)
Turnover Q2 2026: 15.6% Est. buys $89,947,041 · sells $83,533,606
Median holding: 7.0 quarters Tracked Q4 2024–Q2 2026 · 77.5% still held
- New positions
- 12
- Increased
- 79
- Decreased
- 56
- Closed
- 18
On this page
- Sector breakdown How the portfolio splits across market sectors.
- Portfolio Every stock this institution reports holding, from its latest 13F.
- High-conviction bets The holdings this manager is most concentrated in.
- Biggest new bets Brand-new positions opened in the latest quarter.
- Top moves The biggest position increases and decreases this quarter.
- Exited positions Positions the manager fully sold out of last quarter.
Sector breakdown
Technology
18.3%
Industrials
13.4%
Materials
11.5%
Energy
9.3%
Communication Services
5.7%
Retail
5.0%
Healthcare
5.0%
Financials
4.9%
Financial Services
4.2%
Real Estate
4.1%
Consumer Discretionary
2.9%
Telecommunication
2.2%
Utilities
0.6%
Communications
0.1%
Consumer Staples
0.0%
Consumer products
0.0%
Other/Unmapped
12.6%
Full portfolio 210 positions
| Type | Streak | 8Q trend | |||||
|---|---|---|---|---|---|---|---|
| CNI Canadian National Railway Company Common Stock | $29,992,148 | 5.53% | 251,810 | $471,224 | Down ×3 | ||
| SHOP Shopify Inc. - Class A Subordinate Voting Shares | $17,547,146 | 3.24% | 153,670 | $2,909,039 | Up ×2 | ||
| TECK Teck Resources Ltd Ordinary Shares | $14,690,706 | 2.71% | 247,135 | $5,594,799 | Up ×4 | ||
| GOOG Alphabet Inc. - Class C Capital Stock | $13,306,262 | 2.45% | 45,181 | $1,073,954 | Down ×1 | ||
| IVV | $12,918,353 | 2.38% | 17,250 | $873,161 | Down ×1 | ||
| SU Suncor Energy Inc. Common Stock | $12,784,304 | 2.36% | 238,093 | $7,357,041 | Up ×1 | ||
| TSM Taiwan Semiconductor Manufacturing Company Ltd. | $12,610,957 | 2.33% | 30,530 | $1,631,087 | Down ×2 | ||
| MSFT Microsoft Corporation - Common Stock | $12,432,563 | 2.29% | 41,327 | $-411,852 | Down ×1 | ||
| CVE Cenovus Energy Inc Common Stock | $12,167,865 | 2.24% | 491,348 | $6,203,560 | Up ×3 | ||
| BN Brookfield Corporation Class A Limited Voting Shares | $11,478,909 | 2.12% | 269,568 | $764,464 | Up ×3 | ||
| VOO | $9,854,645 | 1.82% | 14,348 | $1,568,760 | Up ×6 | ||
| IEFA | $9,514,166 | 1.76% | 98,511 | $896,730 | Up ×6 | ||
| AMZN Amazon.com, Inc. - Common Stock | $9,508,395 | 1.75% | 49,875 | $1,186,056 | Up ×3 | ||
| AVGO Broadcom Inc. - Common Stock | $9,005,635 | 1.66% | 28,622 | $1,384,977 | Down ×1 | ||
| BB BlackBerry Limited Common Stock | $8,563,022 | 1.58% | 679,400 | Up ×1 | |||
| CRM Salesforce, Inc. Common Stock | $8,443,695 | 1.56% | 68,166 | $450,557 | Up ×6 | ||
| CIGI Colliers International Group Inc. - Subordinate Voting Shares | $8,141,999 | 1.50% | 86,932 | $45,342 | Up ×3 | ||
| GIL Gildan Activewear, Inc. Class A Sub. Vot. Common Stock | $7,900,562 | 1.46% | 153,538 | $-744,465 | Down ×1 | ||
| NTR Nutrien Ltd. Common Shares | $7,754,649 | 1.43% | 123,328 | $2,326,056 | Up ×1 | ||
| META Meta Platforms, Inc. - Class A Common Stock | $7,743,532 | 1.43% | 17,224 | $962,697 | Up ×3 | ||
| TMUS T-Mobile US, Inc. - Common Stock | $7,360,127 | 1.36% | 56,392 | $-61,300 | Up ×3 | ||
| WPM Wheaton Precious Metals Corp Common Shares (Canada) | $7,323,459 | 1.35% | 65,229 | $-3,887,204 | Down ×4 | ||
| Unknown issuer (CUSIP: 884903881) | $7,290,719 | 1.35% | 89,435 | Up ×1 | |||
| Unknown issuer (CUSIP: 55293N109) | $7,098,188 | 1.31% | 172,125 | $6,924,377 | Up ×1 | ||
| CNQ Canadian Natural Resources Limited Common Stock | $6,976,494 | 1.29% | 176,650 | $502,117 | Up ×2 | ||
| STN Stantec Inc Common Stock | $6,970,071 | 1.29% | 101,252 | $191,545 | Up ×3 | ||
| PBA Pembina Pipeline Corp. Ordinary Shares (Canada) | $6,533,231 | 1.21% | 141,477 | $748,138 | Up ×1 | ||
| BGSI Boyd Group Services Inc. Common Shares | $6,432,689 | 1.19% | 68,068 | $16,057 | Up ×2 | ||
| LSPD Lightspeed Commerce Inc. Subordinate Voting Shares | $6,040,115 | 1.11% | 577,980 | $35,965 | Down ×1 | ||
| BRKA | $5,990,800 | 1.11% | 8 | $245,680 | |||
| BSX Boston Scientific Corporation Common Stock | $5,950,089 | 1.10% | 182,953 | $1,983,595 | Up ×3 | ||
| OTIS Otis Worldwide Corporation Common Stock | $5,810,942 | 1.07% | 103,067 | $608,544 | Up ×4 | ||
| DSGX The Descartes Systems Group Inc. - Common Stock | $5,752,504 | 1.06% | 83,216 | $55,032 | Up ×6 | ||
| BDX Becton, Dickinson and Company Common Stock | $5,639,359 | 1.04% | 48,315 | $-96,566 | Up ×1 | ||
| CSGP CoStar Group, Inc. - Common Stock | $5,497,709 | 1.01% | 256,336 | $110,529 | Up ×3 | ||
| FNV Franco-Nevada Corporation | $5,490,220 | 1.01% | 26,363 | $-1,881,638 | Down ×1 | ||
| BNS Bank Nova Scotia Halifax Pfd 3 Ordinary Shares | $5,439,495 | 1.00% | 62,704 | $-755,929 | Down ×1 | ||
| J Jacobs Solutions Inc. Common Stock | $5,429,276 | 1.00% | 53,328 | $1,052,560 | Up ×1 | ||
| OR OR Royalties Inc. Common Shares | $5,355,288 | 0.99% | 169,447 | $-3,072,334 | Down ×1 | ||
| RY Royal Bank Of Canada Common Stock | $5,312,487 | 0.98% | 25,705 | $1,081,245 | Down ×2 | ||
| QSR Restaurant Brands International Inc. Common Shares | $5,207,206 | 0.96% | 71,930 | $771,828 | Up ×1 | ||
| HBM Hudbay Minerals Inc. Ordinary Shares (Canada) | $5,187,297 | 0.96% | 220,100 | $-787,498 | Down ×1 | ||
| AG First Majestic Silver Corp. Ordinary Shares (Canada) | $5,163,389 | 0.95% | 304,700 | $-818,153 | Up ×1 | ||
| MEOH Methanex Corporation - Common Stock | $5,016,748 | 0.93% | 108,820 | $5,015,559 | Up ×1 | ||
| WTW Willis Towers Watson Public Limited Company - Ordinary Shares | $5,011,129 | 0.92% | 24,991 | $-75,157 | Up ×3 | ||
| ABT Abbott Laboratories Common Stock | $4,714,895 | 0.87% | 67,648 | $-96,342 | Up ×3 | ||
| VWO | $4,612,612 | 0.85% | 77,276 | $576,043 | Up ×6 | ||
| TD Toronto Dominion Bank (The) Common Stock | $4,583,797 | 0.85% | 37,773 | $179,435 | Down ×6 | ||
| DIS Walt Disney Company (The) Common Stock | $4,515,035 | 0.83% | 58,773 | $-100,440 | Down ×1 | ||
| FSV FirstService Corporation - Common Shares | $4,469,098 | 0.82% | 31,490 | $250,365 | Up ×2 | ||
| RCI Rogers Communication, Inc. Common Stock | $4,283,454 | 0.79% | 131,920 | $-587,199 | Up ×1 | ||
| CBRE CBRE Group Inc Common Stock Class A | $4,223,680 | 0.78% | 38,605 | $1,220,528 | Up ×2 | ||
| CTSH Cognizant Technology Solutions Corporation - Class A Common Stock | $4,143,945 | 0.76% | 137,159 | $233,779 | Up ×1 | ||
| COP ConocoPhillips Common Stock | $4,045,608 | 0.75% | 50,778 | $-502,411 | Up ×1 | ||
| DLTR Dollar Tree, Inc. - Common Stock | $3,991,440 | 0.74% | 41,416 | $314,212 | Down ×1 | ||
| A Agilent Technologies, Inc. Common Stock | $3,963,720 | 0.73% | 36,056 | $-369,276 | Down ×1 | ||
| GFR Greenfire Resources Ltd. Common Shares | $3,736,157 | 0.69% | 661,980 | $1,123,413 | Up ×1 | ||
| GIB CGI Inc. Common Stock | $3,683,895 | 0.68% | 57,105 | $-2,066,288 | Down ×1 | ||
| ELE Elemental Royalty Corporation - Common Stock | $3,656,432 | 0.67% | 209,002 | $1,451,072 | Up ×1 | ||
| URI United Rentals, Inc. Common Stock | $3,634,821 | 0.67% | 3,689 | $-1,509,786 | Down ×1 | ||
| KKR KKR & Co. Inc. Common Stock | $3,395,482 | 0.63% | 47,424 | $-717,878 | Down ×1 | ||
| V Visa Inc. | $3,364,598 | 0.62% | 12,869 | $401,689 | Up ×3 | ||
| TTEK Tetra Tech, Inc. - Common Stock | $3,360,648 | 0.62% | 147,261 | $345,072 | Up ×1 | ||
| SAP SAP SE ADS | $3,341,105 | 0.62% | 21,680 | $314,112 | Up ×4 | ||
| BK The Bank of New York Mellon Corporation Common Stock | $3,246,380 | 0.60% | 29,885 | $-225,408 | Down ×1 | ||
| ALLE Allegion plc Ordinary Shares | $3,231,430 | 0.60% | 28,811 | $353,477 | Up ×3 | ||
| ATS ATS Corporation Common Shares | $3,196,292 | 0.59% | 111,104 | $809,346 | Up ×1 | ||
| Unknown issuer (CUSIP: 571748BC5) | $3,193,836 | 0.59% | 25,536 | $-165,189 | Up ×1 | ||
| DHR Danaher Corporation Common Stock | $3,111,414 | 0.57% | 21,855 | $217,559 | Up ×2 | ||
| DG Dollar General Corporation Common Stock | $3,069,330 | 0.57% | 35,364 | $343,789 | Up ×1 | ||
| NFLX Netflix, Inc. - Common Stock | $3,012,681 | 0.56% | 52,363 | $-400,665 | Up ×4 | ||
| DCBO Docebo Inc. - Common Shares | $2,857,240 | 0.53% | 160,037 | $1,203,129 | Up ×1 | ||
| MTA | $2,698,199 | 0.50% | 355,342 | $384,503 | Down ×1 | ||
| MCD McDonald's Corporation Common Stock | $2,430,706 | 0.45% | 10,620 | $-371,519 | Up ×3 | ||
| ULTA Ulta Beauty, Inc. - Common Stock | $2,334,970 | 0.43% | 6,754 | $111,953 | Up ×1 | ||
| JNJ Johnson & Johnson Common Stock | $2,333,137 | 0.43% | 9,986 | $-2,078,302 | Down ×4 | ||
| UNP Union Pacific Corporation Common Stock | $2,303,251 | 0.42% | 9,551 | $-1,309,858 | Down ×2 | ||
| GOOGL Alphabet Inc. - Class A Common Stock | $2,256,792 | 0.42% | 6,315 | $436,537 | Down ×1 | ||
| COST Costco Wholesale Corporation - Common Stock | $2,058,034 | 0.38% | 2,200 | $-134,112 | |||
| WFC Wells Fargo & Company Common Stock | $1,988,891 | 0.37% | 32,092 | $63,242 | Up ×3 | ||
| Unknown issuer (CUSIP: 866966104) | $1,946,848 | 0.36% | 27,187 | $-100,857 | Down ×1 | ||
| WMT Walmart Inc. - Common Stock | $1,925,420 | 0.36% | 17,000 | $-187,340 | |||
| CP Canadian Pacific Kansas City Limited Common Shares | $1,795,856 | 0.33% | 20,754 | $159,735 | Down ×2 | ||
| TJX TJX Companies, Inc. (The) Common Stock | $1,642,109 | 0.30% | 10,839 | $-58,217 | Up ×1 | ||
| BMO Bank Of Montreal Common Stock | $1,485,674 | 0.27% | 8,422 | $350,207 | Up ×1 | ||
| ENTG Entegris, Inc. - Common Stock | $1,430,502 | 0.26% | 10,203 | $-1,108,939 | Down ×2 | ||
| HD Home Depot, Inc. (The) Common Stock | $1,410,720 | 0.26% | 4,000 | $95,160 | |||
| FTS Fortis Inc. Common Shares | $1,393,486 | 0.26% | 24,371 | $332,591 | Up ×1 | ||
| IGF iShares Global Infrastructure ETF | $1,304,294 | 0.24% | 19,584 | $30,825 | Up ×6 | ||
| SHEL Shell PLC American Depositary Shares (each representing two (2) Ordinary Shares) | $1,123,555 | 0.21% | 14,490 | $-224,015 | |||
| CNP CenterPoint Energy, Inc (Holding Co) Common Stock | $1,109,682 | 0.20% | 32,334 | $-469,645 | Down ×2 | ||
| BHP BHP Group Limited American Depositary Shares (Each representing two Ordinary Shares) | $1,056,371 | 0.19% | 12,680 | $134,028 | |||
| SMFG Sumitomo Mitsui Financial Group Inc Unsponsored American Depositary Shares (Japan) | $1,052,894 | 0.19% | 44,652 | $171,017 | |||
| RIO Rio Tinto Plc Common Stock | $1,051,824 | 0.19% | 11,080 | $18,171 | |||
| MUFG Mitsubishi UFJ Financial Group, Inc. Common Stock | $1,034,916 | 0.19% | 52,032 | $151,933 | |||
| ENB Enbridge Inc Common Stock | $1,016,608 | 0.19% | 18,783 | $45,080 | Up ×1 | ||
| ACN Accenture plc Class A Ordinary Shares (Ireland) | $914,425 | 0.17% | 9,264 | $-1,039,958 | Down ×3 | ||
| ROST Ross Stores, Inc. - Common Stock | $892,773 | 0.16% | 4,677 | $-327,214 | Down ×4 | ||
| NVDA NVIDIA Corporation - Common Stock | $855,385 | 0.16% | 4,275 | $104,593 | Down ×1 | ||
| TRP TC Energy Corporation Common Stock | $733,118 | 0.14% | 11,092 | $47,249 | Up ×1 | ||
| No matches | |||||||
Conviction holdings
Positions increased for 3+ consecutive quarters.
Share counts are as reported in 13F filings (not split-adjusted)
| Security | Value | % of portfolio | Streak |
|---|---|---|---|
| TECK | $14,690,706 | 2.71% | up ×4 |
| CVE | $12,167,865 | 2.24% | up ×3 |
| BN | $11,478,909 | 2.12% | up ×3 |
| VOO | $9,854,645 | 1.82% | up ×6 |
| IEFA | $9,514,166 | 1.76% | up ×6 |
| AMZN | $9,508,395 | 1.75% | up ×3 |
| CRM | $8,443,695 | 1.56% | up ×6 |
| CIGI | $8,141,999 | 1.50% | up ×3 |
| META | $7,743,532 | 1.43% | up ×3 |
| TMUS | $7,360,127 | 1.36% | up ×3 |
| STN | $6,970,071 | 1.29% | up ×3 |
| BSX | $5,950,089 | 1.10% | up ×3 |
| OTIS | $5,810,942 | 1.07% | up ×4 |
| DSGX | $5,752,504 | 1.06% | up ×6 |
| CSGP | $5,497,709 | 1.01% | up ×3 |
Biggest new bets
New positions opened this quarter, largest first.
| Security | Value | Shares | % of portfolio |
|---|---|---|---|
| BB | $8,563,022 | 679,400 | 1.58% |
| Unknown issuer (CUSIP: 884903881) | $7,290,719 | 89,435 | 1.35% |
| DVN | $190,072 | 4,600 | 0.04% |
| DOW | $159,372 | 5,825 | 0.03% |
| ARKX | $66,495 | 1,950 | 0.01% |
| RPRX | $28,147 | 502 | 0.01% |
| DGX | $24,798 | 117 | 0.00% |
| GD | $24,088 | 68 | 0.00% |
| CB | $23,852 | 70 | 0.00% |
| L | $23,774 | 210 | 0.00% |
| VICI | $22,063 | 831 | 0.00% |
| Unknown issuer (CUSIP: 84615Q103) | $5,980 | 35 | 0.00% |
Top movers (QoQ)
| Security | Action | Shares Δ | Value Δ |
|---|---|---|---|
| SU | Bought more | +156K | +$7.4M |
| CVE | Bought more | +266K | +$6.2M |
| TECK | Bought more | +71K | +$5.6M |
| WPM | Trimmed | -20K | -$3.9M |
| OR | Trimmed | -52K | -$3.1M |
| SHOP | Bought more | +30K | +$2.9M |
| NTR | Bought more | +51K | +$2.3M |
| JNJ | Trimmed | -11K | -$2.1M |
| GIB | Trimmed | -22K | -$2.1M |
| BSX | Bought more | +99K | +$2.0M |
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.
| Security | Quarter | Shares before | Value before | Price since exit |
|---|---|---|---|---|
| SSRM | June 30, 2026 | 225,400 | $6,607,249 | 33.1% |
| TRI | June 30, 2026 | 72,832 | $6,560,576 | 29.1% |
| UUUU | June 30, 2026 | 339,500 | $6,213,247 | No longer tracked |
| KGC | June 30, 2026 | 196,100 | $5,983,308 | 37.8% |
| IAG | June 30, 2026 | 318,300 | $5,973,691 | 34.1% |
| ORXXXX | June 30, 2025 | 279,555 | $5,905,735 | No longer tracked |
| CDE | June 30, 2026 | 292,481 | $5,489,868 | 30.7% |
| EQX | June 30, 2026 | 375,900 | $5,417,771 | No longer tracked |
| NGD | March 31, 2026 | 563,400 | $4,916,288 | No longer tracked |
| SAND | Dec. 31, 2025 | 338,282 | $4,233,081 | No longer tracked |
| CLS | March 31, 2026 | 14,100 | $4,176,814 | 7.7% |
| IAG | Sept. 30, 2025 | 454,200 | $3,339,167 | 64.3% |
| AGI | June 30, 2025 | 120,500 | $3,222,889 | 42.1% |
| FNV | Sept. 30, 2025 | 18,500 | $3,031,624 | 18.3% |
| ORLA | Sept. 30, 2025 | 294,900 | $2,956,998 | No longer tracked |
| CAE | June 30, 2025 | 112,500 | $2,768,677 | -15.1% |
| AEM | March 31, 2025 | 32,700 | $2,556,975 | 100.0% |
| TAC | June 30, 2025 | 267,100 | $2,495,237 | 17.5% |
| MRSH | Dec. 31, 2025 | 14,794 | $2,171,028 | 3.0% |
| ORCL | March 31, 2026 | 10,225 | $1,992,955 | -0.4% |
| DEO | March 31, 2025 | 10,826 | $1,376,309 | -11.0% |
| TM | June 30, 2025 | 2,140 | $377,774 | 14.8% |
| IMO | June 30, 2026 | 2,580 | $337,256 | No longer tracked |
| AFL | Dec. 31, 2025 | 2,250 | $251,325 | 6.1% |
| WDC | June 30, 2026 | 925 | $250,203 | -26.3% |
| LDOS | June 30, 2025 | 1,575 | $212,531 | -10.0% |
| TAP | June 30, 2026 | 3,690 | $158,891 | 8.8% |
| IBM | Sept. 30, 2025 | 518 | $152,696 | -17.2% |
| QGENXXXX | Sept. 30, 2025 | 3,131 | $150,408 | No longer tracked |
| LDOS | June 30, 2026 | 955 | $148,522 | 37.9% |
| HPQ | March 31, 2026 | 6,450 | $143,706 | 54.3% |
| GRTUF | March 31, 2026 | 2,400 | $143,079 | No longer tracked |
| CHKP | June 30, 2025 | 611 | $139,259 | -41.4% |
| MRK | Dec. 31, 2025 | 1,034 | $86,784 | 44.1% |
| GOLD | June 30, 2025 | 1,825 | $35,469 | 110.5% |
| ADP | June 30, 2025 | 106 | $32,386 | -9.5% |
| CHKP | Dec. 31, 2025 | 138 | $28,554 | -30.2% |
| RPRX | June 30, 2025 | 905 | $28,173 | 68.4% |
| GD | Dec. 31, 2025 | 80 | $27,280 | 15.3% |
| KO | June 30, 2026 | 332 | $25,249 | 11.5% |
| JNPR | Sept. 30, 2025 | 632 | $25,236 | No longer tracked |
| DGX | Sept. 30, 2025 | 136 | $24,430 | 26.2% |
| ECL | June 30, 2026 | 86 | $22,878 | 0.8% |
| ITW | June 30, 2025 | 91 | $22,569 | 14.4% |
| GIS | June 30, 2025 | 362 | $21,644 | -24.1% |
| NEE | March 31, 2026 | 240 | $19,267 | -8.5% |
| KMB | March 31, 2026 | 170 | $17,151 | 12.4% |
| LAC | Dec. 31, 2025 | 2,690 | $15,362 | -27.2% |
| OGIXXXX | March 31, 2025 | 5,000 | $7,996 | No longer tracked |
| CVS | March 31, 2025 | 175 | $7,856 | 38.1% |
| CRCL | June 30, 2026 | 81 | $7,728 | 46.8% |
| CM | March 31, 2025 | 120 | $7,587 | 109.1% |
| HIVE | Dec. 31, 2025 | 1,673 | $6,742 | 27.6% |
| PLTR | Dec. 31, 2025 | 35 | $6,385 | -2.7% |
| RIOT | March 31, 2026 | 430 | $5,448 | 77.4% |
| UPS | March 31, 2025 | 40 | $5,044 | -6.1% |
| SNDL | March 31, 2026 | 2,900 | $4,814 | 0.8% |
| SLV | Dec. 31, 2025 | 100 | $4,237 | No longer tracked |
| COIN | June 30, 2026 | 23 | $4,016 | 28.2% |
| ACHR | June 30, 2026 | 745 | $3,852 | 30.3% |
| TWST | March 31, 2026 | 95 | $3,013 | 188.1% |
| CRL | March 31, 2026 | 10 | $1,995 | 68.2% |
| HOOD | June 30, 2026 | 28 | $1,940 | 6.0% |
| MRNA | March 31, 2026 | 62 | $1,828 | 181.7% |
| XRAY | March 31, 2026 | 100 | $1,143 | -6.5% |
| DFTX | June 30, 2026 | 52 | $983 | -2.1% |
| MNMD | Dec. 31, 2025 | 52 | $613 | No longer tracked |
| ZIMV | Dec. 31, 2025 | 7 | $133 | No longer tracked |