LOUISBOURG INVESTMENTS INC. — 13F Holdings & Portfolio
CIK 2053050 · latest 13F-HR filed 2026-04-22
LOUISBOURG INVESTMENTS INC. manages $528.8M in 13F-reported U.S. long-equity assets across 216 reported positions as of its 2026-03-31 13F-HR filing. Its largest disclosed positions are CNI (5.58%), SHOP (2.77%), MSFT (2.43%). Quarter over quarter (versus its 2025-12-31 filing) the fund opened 16 new positions, exited 13, added to 82, and trimmed 79.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
$528.8M
Long-equity book
216
Distinct positions
2026-03-31
Filed 2026-04-22
+16 / −13 / ↑82 / ↓79
vs 2025-12-31
| Name | Title / Status | Ownership | Type |
|---|
Top Adds (vs prior quarter)
- THOMSON REUTERS CORP$4.7M +261.8%
- SHOPIFY INC$3.9M +35.8%
- BOSTON SCIENTIFIC CORP$3.4M +577.8%
- BROOKFIELD CORP$3.0M +39.4%
- CENOVUS ENERGY INC$2.9M +94.9%
Top Trims
- ROGERS COMMUNICATIONS INC-$5.0M -50.8%
- ROYAL GOLD INC-$3.9M -99.7%
- INVESCO S&P 500 EQUAL WEIGHT E-$3.4M -96.2%
- ATS CORP-$3.3M -58.2%
- PEMBINA PIPELINE CORP-$2.9M -33.3%
New Positions
- FRANCO-NEVADA CORP$7.4M
- FIRST MAJESTIC SILVER CORP$6.0M
- COEUR MINING INC$5.5M
- MARSH & MCLENNAN COS INC$3.4M
- TETRA TECH INC$3.0M
Exited Positions
- NEW GOLD INC$4.9M
- CELESTICA INC$4.2M
- ORACLE CORP$2.0M
- HP INC$143.7K
- GRANITE REAL ESTATE INVESTMENT$143.1K
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | CANADIAN NATIONAL RAILWAY CO | CNI | 136375102 | $29.5M | 5.58% | 287,395 | SH |
| 2 | SHOPIFY INC | SHOP | 82509L107 | $14.6M | 2.77% | 123,616 | SH |
| 3 | MICROSOFT CORP | MSFT | 594918104 | $12.8M | 2.43% | 42,820 | SH |
| 4 | ALPHABET INC | GOOG | 02079K107 | $12.2M | 2.31% | 51,083 | SH |
| 5 | ISHARES CORE S&P 500 ETF | IVV | 464287200 | $12.0M | 2.28% | 18,440 | SH |
| 6 | WHEATON PRECIOUS METALS CORP | WPM | 962879102 | $11.2M | 2.12% | 85,578 | SH |
| 7 | TSMC | TSM | 874039100 | $11.0M | 2.08% | 37,609 | SH |
| 8 | BROOKFIELD CORP | BN | 11271J107 | $10.7M | 2.03% | 264,944 | SH |
| 9 | TECK RESOURCES LTD | TECK | 878742204 | $9.1M | 1.72% | 175,850 | SH |
| 10 | GILDAN ACTIVEWEAR INC | GIL | 375916103 | $8.6M | 1.63% | 155,548 | SH |
| 11 | ISHARES CORE MSCI EAFE ETF | IEFA | 46432F842 | $8.6M | 1.63% | 95,189 | SH |
| 12 | OR ROYALTIES INC | OR | 68390D106 | $8.4M | 1.59% | 221,772 | SH |
| 13 | AMAZON.COM INC | AMZN | 023135106 | $8.3M | 1.57% | 49,421 | SH |
| 14 | VANGUARD S&P 500 ETF | VOO | 922908363 | $8.3M | 1.57% | 13,866 | SH |
| 15 | COLLIERS INTERNATIONAL GROUP I | CIGI | 194693107 | $8.1M | 1.53% | 75,882 | SH |
| 16 | SALESFORCE INC | CRM | 79466L302 | $8.0M | 1.51% | 54,137 | SH |
| 17 | BROADCOM INC | AVGO | 11135F101 | $7.6M | 1.44% | 29,346 | SH |
| 18 | T-MOBILE US INC | TMUS | 872590104 | $7.4M | 1.40% | 44,318 | SH |
| 19 | FRANCO-NEVADA CORP | FNV | 351858105 | $7.4M | 1.39% | 29,832 | SH |
| 20 | META PLATFORMS INC | META | 30303M102 | $6.8M | 1.28% | 14,892 | SH |
| 21 | STANTEC INC | STN | 85472N109 | $6.8M | 1.28% | 78,568 | SH |
| 22 | SSR MINING INC | SSRM | 784730103 | $6.6M | 1.25% | 225,400 | SH |
| 23 | THOMSON REUTERS CORP | TRI | 884903808 | $6.6M | 1.24% | 72,832 | SH |
| 24 | CANADIAN NATURAL RESOURCES LTD | CNQ | 136385101 | $6.5M | 1.22% | 132,989 | SH |
| 25 | BOYD GROUP INC | BGSI | 103310108 | $6.4M | 1.21% | 51,234 | SH |
| 26 | ENERGY FUELS INC/CANADA | UUUU | 292671708 | $6.2M | 1.17% | 339,500 | SH |
| 27 | BANK OF NOVA SCOTIA/THE | BNS | 064149107 | $6.2M | 1.17% | 89,518 | SH |
| 28 | LIGHTSPEED COMMERCE INC | LSPD | 53229C107 | $6.0M | 1.14% | 672,764 | SH |
| 29 | KINROSS GOLD CORP | KGC | 496902404 | $6.0M | 1.13% | 196,100 | SH |
| 30 | FIRST MAJESTIC SILVER CORP | AG | 32076V103 | $6.0M | 1.13% | 279,600 | SH |
| 31 | HUDBAY MINERALS INC | HBM | 443628102 | $6.0M | 1.13% | 285,900 | SH |
| 32 | IAMGOLD CORP | IAG | 450913108 | $6.0M | 1.13% | 318,300 | SH |
| 33 | CENOVUS ENERGY INC | CVE | 15135U109 | $6.0M | 1.13% | 225,180 | SH |
| 34 | PEMBINA PIPELINE CORP | PBA | 706327103 | $5.8M | 1.09% | 129,498 | SH |
| 35 | CGI INC | GIB | 12532H104 | $5.8M | 1.09% | 78,812 | SH |
| 36 | BERKSHIRE HATHAWAY INC | BRK.A | 084670108 | $5.7M | 1.09% | 8 | SH |
| 37 | BECTON DICKINSON & CO | BDX | 075887109 | $5.7M | 1.08% | 46,164 | SH |
| 38 | DESCARTES SYSTEMS GROUP INC/TH | DSGX | 249906108 | $5.7M | 1.08% | 79,704 | SH |
| 39 | COEUR MINING INC | CDE | 192108504 | $5.5M | 1.04% | 292,481 | SH |
| 40 | NUTRIEN LTD | NTR | 67077M108 | $5.4M | 1.03% | 72,059 | SH |
| 41 | SUNCOR ENERGY INC | SU | 867224107 | $5.4M | 1.03% | 82,220 | SH |
| 42 | EQUINOX GOLD CORP | EQX | 29446Y502 | $5.4M | 1.02% | 375,900 | SH |
| 43 | COSTAR GROUP INC | CSGP | 22160N109 | $5.4M | 1.02% | 175,086 | SH |
| 44 | OTIS WORLDWIDE CORP | OTIS | 68902V107 | $5.2M | 0.98% | 83,707 | SH |
| 45 | UNITED RENTALS INC | URI | 911363109 | $5.1M | 0.97% | 8,706 | SH |
| 46 | WILLIS TOWERS WATSON PLC | WTW | G96629103 | $5.1M | 0.96% | 22,466 | SH |
| 47 | ROGERS COMMUNICATIONS INC | RCI | 775109200 | $4.9M | 0.92% | 126,901 | SH |
| 48 | ABBOTT LABORATORIES | ABT | 002824100 | $4.8M | 0.91% | 59,288 | SH |
| 49 | WALT DISNEY CO/THE | DIS | 254687106 | $4.6M | 0.87% | 59,204 | SH |
| 50 | CONOCOPHILLIPS | COP | 20825C104 | $4.5M | 0.86% | 44,113 | SH |
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-03-31 | 2026-04-22 | $528.8M | 216 | 0002053050-26-000002 |
| 2025-12-31 | 2026-01-16 | $501.9M | 213 | 0002053050-26-000001 |