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LOUISBOURG INVESTMENTS INC. — 13F Holdings & Portfolio

CIK 2053050 · latest 13F-HR filed 2026-10-20

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LOUISBOURG INVESTMENTS INC. manages $545.3M in 13F-reported U.S. long-equity assets across 209 reported positions as of its 2026-09-30 13F-HR filing. Its largest disclosed positions are CNI (4.93%), SHOP (3.28%), MSFT (3.16%). Quarter over quarter (versus its 2026-06-30 filing) the fund opened 11 new positions and exited 12; 64 existing positions rose in reported value and 79 fell.

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.

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AUM
$545.3M

Long-equity book

Holdings
209

Distinct positions

Period
2026-09-30

Filed 2026-10-20

Q/Q Activity
+11 / −12 / ↑64 / ↓79

vs 2026-06-30

Portfolio charts

Latest quarter's book, what changed, and how the portfolio has evolved across filings.

Portfolio map

Q3 26
CNI4.9% · -11%SHOP3.3% · -22%MSFT3.2% · +1%TSM2.8% · +26%CVE2.7% · -3%SU2.7% · -9%IVV2.4% · -2%GOOG2.3% · -1%BN2.1% · +15%AMZN1.9% · +5%VOO1.9% · +0%AVGO1.8% · +20%WPM1.8% · +11%IEFA1.8% · +1%META1.7% · -6%CRM1.7% · -28%GIL1.6% · +35%CIGI1.6% · +9%BGSI1.5% · +49%TECK1.4% · -52%TMUS1.4% · +7%NTR1.4% · -12%OR1.3% · +25%STN1.3% · +5%TRI1.3% · -21%BB1.3% · +12%OTIS1.2% · +29%LSPD1.2% · +17%BSX1.2% · +6%MEOH1.1% · -3%BDX1.1% · -7%CNQ1.1% · -27%BRK.A1.1% · 0%RCI1.0% · +36%PBA1.0% · -13%J1.0% · -8%DIS1.0% · +11%BNS1.0% · -7%CSGP1.0% · -5%COP0.9% · +1%TOST0.9% · newWTW0.9% · -14%RY0.9% · -6%URI0.9% · +57%DSGX0.9% · -30%VWO0.8% · -0%ABT0.8% · -13%FNV0.8% · -28%FSV0.8% · +6%GFR0.8% · +10%TD0.8% · -8%CBRE0.7% · -0%CTSH0.7% · -38%SUNB0.7% · +94%QSR0.7% · -25%ASML0.7% · +2000%NFLX0.7% · +30%SAP0.7% · -18%DLTR0.7% · -3%A0.7% · -31%

Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.

Sector mix

% of 13F value

Sectors from each company's SIC code; funds and ETFs grouped separately.

Biggest buys and sells

Q2 26 → Q3 26

Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.

13F assets and positions

4 quarters

Total reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.

Top positions over time

reported value

The eight largest current positions, valued at each quarter end.

Concentration

top 10 = 28.3%

Cumulative share of the portfolio held in the largest N positions.

Firm Profile & Key People

Name Title / Status Ownership Type

Quarter-over-quarter changes

Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.

LOUISBOURG INVESTMENTS INC. Holdings (2026-09-30)

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 $26.9M 4.93% 225,172 SH
2 SHOPIFY INC SHOP 82509L107 $17.9M 3.28% 120,336 SH
3 MICROSOFT CORP MSFT 594918104 $17.2M 3.16% 41,557 SH
4 TSMC TSM 874039100 $15.2M 2.79% 38,457 SH
5 CENOVUS ENERGY INC CVE 15135U109 $14.8M 2.72% 476,223 SH
6 SUNCOR ENERGY INC SU 867224107 $14.7M 2.70% 216,617 SH
7 ISHARES CORE S&P 500 ETF IVV 464287200 $13.0M 2.38% 16,920 SH
8 ALPHABET INC GOOG 02079K107 $12.7M 2.34% 44,870 SH
9 BROOKFIELD CORP BN 11271J107 $11.4M 2.09% 310,924 SH
10 AMAZON.COM INC AMZN 023135106 $10.4M 1.90% 52,214 SH
11 VANGUARD S&P 500 ETF VOO 922908363 $10.1M 1.85% 14,417 SH
12 BROADCOM INC AVGO 11135F101 $9.9M 1.81% 34,311 SH
13 WHEATON PRECIOUS METALS CORP WPM 962879102 $9.7M 1.78% 72,610 SH
14 ISHARES CORE MSCI EAFE ETF IEFA 46432F842 $9.6M 1.77% 99,389 SH
15 META PLATFORMS INC META 30303M102 $9.4M 1.73% 16,126 SH
16 SALESFORCE INC CRM 79466L302 $9.1M 1.66% 48,717 SH
17 GILDAN ACTIVEWEAR INC GIL 375916103 $8.8M 1.62% 207,050 SH
18 COLLIERS INTERNATIONAL GROUP I CIGI 194693107 $8.5M 1.56% 94,813 SH
19 BOYD GROUP SERVICES INC BGSI 103310108 $8.0M 1.46% 101,197 SH
20 TECK RESOURCES LTD TECK 878742204 $7.8M 1.42% 117,642 SH
21 T-MOBILE US INC TMUS 872590104 $7.6M 1.40% 60,189 SH
22 NUTRIEN LTD NTR 67077M108 $7.6M 1.39% 107,929 SH
23 OR ROYALTIES INC OR 68390D106 $7.3M 1.34% 212,505 SH
24 STANTEC INC STN 85472N109 $7.2M 1.32% 106,435 SH
25 THOMSON REUTERS CORP TRI 884903881 $6.9M 1.27% 70,964 SH
26 BLACKBERRY LTD BB 09228F103 $6.9M 1.26% 762,100 SH
27 OTIS WORLDWIDE CORP OTIS 68902V107 $6.7M 1.24% 133,325 SH
28 LIGHTSPEED COMMERCE INC LSPD 53229C107 $6.6M 1.21% 676,164 SH
29 BOSTON SCIENTIFIC CORP BSX 101137107 $6.6M 1.21% 194,330 SH
30 METHANEX CORP MEOH 59151K108 $6.2M 1.14% 105,920 SH
31 BECTON DICKINSON & CO BDX 075887109 $6.2M 1.14% 44,940 SH
32 CANADIAN NATURAL RESOURCES LTD CNQ 136385101 $6.1M 1.12% 129,628 SH
33 BERKSHIRE HATHAWAY INC BRK.A 084670108 $6.0M 1.10% 8 SH
34 ROGERS COMMUNICATIONS INC RCI 775109200 $5.5M 1.01% 179,077 SH
35 PEMBINA PIPELINE CORP PBA 706327103 $5.5M 1.01% 123,229 SH
36 JACOBS SOLUTIONS INC J 46982L108 $5.4M 1.00% 49,198 SH
37 WALT DISNEY CO/THE DIS 254687106 $5.4M 0.99% 65,156 SH
38 BANK OF NOVA SCOTIA/THE BNS 064149107 $5.3M 0.97% 58,102 SH
39 COSTAR GROUP INC CSGP 22160N109 $5.2M 0.96% 244,425 SH
40 CONOCOPHILLIPS COP 20825C104 $4.9M 0.90% 51,146 SH
41 TOAST INC TOST 888787108 $4.9M 0.90% 220,811 SH
42 WILLIS TOWERS WATSON PLC WTW G96629103 $4.8M 0.88% 21,429 SH
43 ROYAL BANK OF CANADA RY 780087102 $4.8M 0.88% 24,224 SH
44 UNITED RENTALS INC URI 911363109 $4.7M 0.87% 5,795 SH
45 DESCARTES SYSTEMS GROUP INC/TH DSGX 249906108 $4.7M 0.86% 58,115 SH
46 VANGUARD FTSE EMERGING MARKETS VWO 922042858 $4.6M 0.84% 77,261 SH
47 ABBOTT LABORATORIES ABT 002824100 $4.5M 0.83% 58,775 SH
48 FRANCO-NEVADA CORP FNV 351858105 $4.5M 0.83% 18,885 SH
49 FIRSTSERVICE CORP FSV 33767E202 $4.3M 0.78% 33,297 SH
50 GREENFIRE RESOURCES LTD GFR 39525U107 $4.1M 0.76% 730,816 SH
Filing History
Period Filed AUM Holdings Accession
2026-09-30 2026-10-20 $545.3M 209 0002053050-26-000005
2026-06-30 2026-07-23 $542.1M 210 0002053050-26-000003
2026-03-31 2026-04-22 $528.8M 216 0002053050-26-000002
2025-12-31 2026-01-16 $501.9M 213 0002053050-26-000001
Filer Information
Address
202-230 CHAMPLAIN STREET
DIEPPE, A3 E1A 1P1
Phone
(506) 383-5215
Filing Manager
LOUISBOURG INVESTMENTS INC.
DIEPPE, A3
Signatory
Luc Gaudet
Chief Executive Officer