13F HOLDINGS REPORT
LOUISBOURG INVESTMENTS INC.
Quarter ended Q3 2025 · Filed October 9, 2025 · Accession 0002053050-25-000011
Total Value
$458.2M
Positions
208
Other Managers
0
Confidential Omitted
No
Holdings (208)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | CANADIAN NATIONAL RAILWAY CO | 136375102 | 302,143 | $28.5M | 6.22% |
| 2 | SHOPIFY INC | SHOP | 101,446 | $15.1M | 3.29% |
| 3 | MICROSOFT CORP | MSFT | 31,662 | $13.3M | 2.90% |
| 4 | WHEATON PRECIOUS METALS CORP | WPM | 113,228 | $12.7M | 2.76% |
| 5 | ISHARES CORE S&P 500 ETF | 464287200 | 18,400 | $12.3M | 2.69% |
| 6 | OR ROYALTIES INC | OR | 292,871 | $11.7M | 2.56% |
| 7 | GILDAN ACTIVEWEAR INC | GIL | 179,231 | $10.4M | 2.26% |
| 8 | ROGERS COMMUNICATIONS INC | RCIAF | 281,520 | $9.7M | 2.11% |
| 9 | ALPHABET INC | GOOG | 47,788 | $9.6M | 2.09% |
| 10 | TSMC | 874039100 | 36,213 | $8.6M | 1.88% |
| 11 | BROOKFIELD CORP | 11271J107 | 114,775 | $7.9M | 1.72% |
| 12 | VANGUARD S&P 500 ETF | 922908363 | 12,658 | $7.8M | 1.69% |
| 13 | ISHARES CORE MSCI EAFE ETF | 46432F842 | 88,591 | $7.7M | 1.69% |
| 14 | LIGHTSPEED COMMERCE INC | LSPD | 652,062 | $7.5M | 1.64% |
| 15 | COLLIERS INTERNATIONAL GROUP I | 194693107 | 46,847 | $7.3M | 1.60% |
| 16 | PEMBINA PIPELINE CORP | PPLOF | 180,723 | $7.3M | 1.59% |
| 17 | RESTAURANT BRANDS INTERNATIONA | 76131D103 | 111,215 | $7.1M | 1.56% |
| 18 | AMAZON.COM INC | AMZN | 38,974 | $6.9M | 1.50% |
| 19 | SALESFORCE INC | CRM | 36,802 | $6.8M | 1.48% |
| 20 | BANK OF NOVA SCOTIA/THE | 064149107 | 103,164 | $6.7M | 1.46% |
| 21 | BECTON DICKINSON & CO | BDX | 46,790 | $6.6M | 1.45% |
| 22 | BROADCOM INC | AVGO | 23,610 | $6.6M | 1.44% |
| 23 | NUTRIEN LTD | NTR | 109,503 | $6.4M | 1.40% |
| 24 | META PLATFORMS INC | META | 10,914 | $6.3M | 1.37% |
| 25 | TECK RESOURCES LTD | TCKRF | 139,912 | $6.1M | 1.34% |
| 26 | BERKSHIRE HATHAWAY INC | BRK-A | 8 | $6.0M | 1.32% |
| 27 | JOHNSON & JOHNSON | JNJ | 39,572 | $5.9M | 1.29% |
| 28 | CANADIAN NATURAL RESOURCES LTD | 136385101 | 178,097 | $5.7M | 1.24% |
| 29 | ATS CORP | ATS | 215,295 | $5.6M | 1.23% |
| 30 | JACOBS SOLUTIONS INC | J | 44,328 | $5.3M | 1.15% |
| 31 | T-MOBILE US INC | TMUSZ | 27,319 | $5.2M | 1.14% |
| 32 | AGILENT TECHNOLOGIES INC | A | 48,820 | $5.0M | 1.09% |
| 33 | CGI INC | GIB | 55,973 | $5.0M | 1.09% |
| 34 | UNITED RENTALS INC | URI | 6,159 | $4.8M | 1.05% |
| 35 | COGNIZANT TECHNOLOGY SOLUTIONS | CTSH | 91,986 | $4.8M | 1.05% |
| 36 | WILLIS TOWERS WATSON PLC | WTW | 17,671 | $4.7M | 1.02% |
| 37 | TORONTO-DOMINION BANK/THE | TORO | 57,951 | $4.6M | 1.01% |
| 38 | SSR MINING INC | SSRGF | 188,300 | $4.6M | 1.00% |
| 39 | WALT DISNEY CO/THE | 254687106 | 49,455 | $4.5M | 0.99% |
| 40 | AGNICO EAGLE MINES LTD | AEM | 26,725 | $4.5M | 0.98% |
| 41 | NEW GOLD INC | 644535106 | 614,100 | $4.4M | 0.96% |
| 42 | OTIS WORLDWIDE CORP | OTIS | 59,131 | $4.3M | 0.94% |
| 43 | KINROSS GOLD CORP | KGCRF | 173,500 | $4.3M | 0.94% |
| 44 | SANDSTORM GOLD LTD | 80013R206 | 338,282 | $4.2M | 0.92% |
| 45 | ROYAL BANK OF CANADA | 780087102 | 27,910 | $4.1M | 0.90% |
| 46 | CELESTICA INC | CLS | 16,300 | $4.0M | 0.88% |
| 47 | FORTIS INC/CANADA | FTRSF | 79,000 | $4.0M | 0.87% |
| 48 | VANGUARD FTSE EMERGING MARKETS | 922042858 | 69,608 | $3.8M | 0.82% |
| 49 | DESCARTES SYSTEMS GROUP INC/TH | 249906108 | 37,348 | $3.5M | 0.77% |
| 50 | CONOCOPHILLIPS | COP | 48,642 | $3.5M | 0.77% |
| 51 | ORACLE CORP | ORCL-PD | 12,669 | $3.5M | 0.76% |
| 52 | UNION PACIFIC CORP | UNP | 18,098 | $3.5M | 0.75% |
| 53 | BANK OF NEW YORK MELLON CORP/T | 064058100 | 42,073 | $3.4M | 0.73% |
| 54 | ABBOTT LABORATORIES | ABLZF | 31,544 | $3.3M | 0.73% |
| 55 | DOLLAR TREE INC | DLTR | 45,304 | $3.3M | 0.73% |
| 56 | DANAHER CORP | 235851102 | 21,480 | $3.3M | 0.71% |
| 57 | CBRE GROUP INC | CBRE | 22,955 | $3.2M | 0.69% |
| 58 | DOCEBO INC | DCBO | 111,672 | $3.0M | 0.66% |
| 59 | ULTA BEAUTY INC | ULTA | 7,280 | $3.0M | 0.66% |
| 60 | ROSS STORES INC | ROST | 24,635 | $2.9M | 0.64% |
| 61 | ACCENTURE PLC | ACN | 15,360 | $2.9M | 0.64% |
| 62 | CANADIAN PACIFIC KANSAS CITY L | CP | 36,700 | $2.7M | 0.60% |
| 63 | ALLEGION PLC | ALLE | 18,725 | $2.7M | 0.60% |
| 64 | DOLLAR GENERAL CORP | 256677105 | 35,302 | $2.7M | 0.59% |
| 65 | SUNCOR ENERGY INC | SU | 63,931 | $2.7M | 0.58% |
| 66 | MCDONALD'S CORP | MCD | 9,992 | $2.6M | 0.56% |
| 67 | KKR & CO INC | KKRT | 25,357 | $2.5M | 0.55% |
| 68 | VISA INC | V | 9,719 | $2.5M | 0.54% |
| 69 | GREENFIRE RESOURCES LTD | 39525U107 | 533,379 | $2.5M | 0.54% |
| 70 | STANTEC INC | STN | 21,284 | $2.3M | 0.50% |
| 71 | MARSH & MCLENNAN COS INC | 571748102 | 14,794 | $2.2M | 0.47% |
| 72 | INVESCO S&P 500 EQUAL WEIGHT E | IVZ | 15,350 | $2.1M | 0.46% |
| 73 | ENTEGRIS INC | ENTG | 30,325 | $2.1M | 0.45% |
| 74 | COSTCO WHOLESALE CORP | 22160K105 | 2,200 | $2.0M | 0.44% |
| 75 | SAP SE | SAPGF | 7,580 | $2.0M | 0.44% |
| 76 | CENTERPOINT ENERGY INC | CNP | 69,518 | $2.0M | 0.44% |
| 77 | WELLS FARGO & CO | 949746101 | 28,744 | $1.8M | 0.39% |
| 78 | WALMART INC | WMT | 17,045 | $1.8M | 0.38% |
| 79 | HOME DEPOT INC/THE | HD | 4,000 | $1.6M | 0.35% |
| 80 | TJX COS INC/THE | 872540109 | 10,688 | $1.5M | 0.34% |
| 81 | KLA CORP | KLAC | 1,686 | $1.5M | 0.32% |
| 82 | ALPHABET INC | GOOG | 5,865 | $1.4M | 0.31% |
| 83 | SHELL PLC | RYDAF | 18,290 | $1.3M | 0.29% |
| 84 | BANK OF MONTREAL | 063671101 | 8,428 | $1.1M | 0.24% |
| 85 | ISHARES GLOBAL INFRASTRUCTURE | 464288372 | 17,419 | $1.1M | 0.23% |
| 86 | COSTAR GROUP INC | CSGP | 15,685 | $1.1M | 0.23% |
| 87 | ENBRIDGE INC | ENNPF | 18,508 | $933,443 | 0.20% |
| 88 | ASML HOLDING NV | ASMLF | 850 | $822,877 | 0.18% |
| 89 | NVIDIA CORP | NVDA | 4,305 | $803,227 | 0.18% |
| 90 | MITSUBISHI UFJ FINANCIAL GROUP | 606822104 | 45,310 | $722,241 | 0.16% |
| 91 | BERKSHIRE HATHAWAY INC | BRK-A | 1,409 | $708,361 | 0.15% |
| 92 | BP PLC | BPPFF | 19,680 | $678,173 | 0.15% |
| 93 | THOMSON REUTERS CORP | TMSOF | 4,256 | $660,674 | 0.14% |
| 94 | RIO TINTO PLC | RTNTF | 9,680 | $638,977 | 0.14% |
| 95 | GOLDMAN SACHS GROUP INC/THE | GSCE | 1,084 | $630,868 | 0.14% |
| 96 | BHP GROUP LTD | BHPLF | 11,080 | $617,710 | 0.13% |
| 97 | VANGUARD FTSE DEVELOPED MARKET | 921943858 | 10,000 | $599,200 | 0.13% |
| 98 | TC ENERGY CORP | TRPRF | 10,975 | $596,565 | 0.13% |
| 99 | APPLE INC | AAPL | 2,640 | $564,644 | 0.12% |
| 100 | BOSTON SCIENTIFIC CORP | BSX | 7,280 | $534,893 | 0.12% |
| 101 | NETFLIX INC | NFLX | 538 | $521,763 | 0.11% |
| 102 | TELUS CORP | TU | 31,336 | $493,417 | 0.11% |
| 103 | AMGEN INC | AMGN | 1,700 | $479,740 | 0.10% |
| 104 | SUMITOMO MITSUI FINANCIAL GROU | 86562M209 | 26,652 | $446,154 | 0.10% |
| 105 | TOTALENERGIES SE | TTE | 7,240 | $432,156 | 0.09% |
| 106 | SPDR S&P 500 ETF TRUST | SPY | 645 | $429,686 | 0.09% |
| 107 | MANULIFE FINANCIAL CORP | 56501R106 | 11,565 | $360,217 | 0.08% |
| 108 | BARRICK MINING CORP | 06849F108 | 10,205 | $335,084 | 0.07% |
| 109 | ABBVIE INC | ABBV | 1,395 | $322,998 | 0.07% |
| 110 | NIKE INC | NKE | 4,500 | $313,785 | 0.07% |
| 111 | EMERA INC | EMRJF | 6,400 | $306,966 | 0.07% |
| 112 | SUN LIFE FINANCIAL INC | SUNFF | 4,967 | $298,177 | 0.07% |
| 113 | ARISTA NETWORKS INC | ANET | 1,765 | $257,178 | 0.06% |
| 114 | FOX CORP | FOX | 3,990 | $251,609 | 0.05% |
| 115 | AFLAC INC | AFL | 2,250 | $251,325 | 0.05% |
| 116 | IMPERIAL OIL LTD | IMO | 2,710 | $245,654 | 0.05% |
| 117 | WESTERN DIGITAL CORP | WDC | 1,970 | $236,518 | 0.05% |
| 118 | UNIVERSAL HEALTH SERVICES INC | 913903100 | 1,055 | $215,684 | 0.05% |
| 119 | CISCO SYSTEMS INC | CSCO | 3,083 | $210,939 | 0.05% |
| 120 | SNAP-ON INC | SNA | 580 | $200,987 | 0.04% |
| 121 | KROGER CO/THE | KR | 2,945 | $198,522 | 0.04% |
| 122 | GE HEALTHCARE TECHNOLOGIES INC | GEHC | 2,625 | $197,137 | 0.04% |
| 123 | LEIDOS HOLDINGS INC | LDOS | 1,035 | $195,574 | 0.04% |
| 124 | HP INC | HPQ | 6,675 | $181,760 | 0.04% |
| 125 | CAPITAL ONE FINANCIAL CORP | 14040H105 | 810 | $172,190 | 0.04% |
| 126 | MOLSON COORS BEVERAGE CO | TAP-A | 3,770 | $170,593 | 0.04% |
| 127 | BROOKFIELD INFRASTRUCTURE PART | G16252101 | 4,958 | $163,332 | 0.04% |
| 128 | PAYCHEX INC | PAYX | 1,200 | $152,112 | 0.03% |
| 129 | MCKESSON CORP | MCK | 186 | $143,692 | 0.03% |
| 130 | GRANITE REAL ESTATE INVESTMENT | 387437205 | 2,400 | $133,318 | 0.03% |
| 131 | ENTERGY CORP | ENO | 1,400 | $130,466 | 0.03% |
| 132 | ISHARES MSCI EAFE ETF | 464287465 | 1,370 | $127,917 | 0.03% |
| 133 | CME GROUP INC | CME | 466 | $125,909 | 0.03% |
| 134 | ALTRIA GROUP INC | MO | 1,714 | $113,227 | 0.02% |
| 135 | RTX CORP | RTX | 635 | $106,255 | 0.02% |
| 136 | DUKE ENERGY CORP | DUKB | 800 | $99,000 | 0.02% |
| 137 | CBOE GLOBAL MARKETS INC | 12503M108 | 392 | $96,138 | 0.02% |
| 138 | SPDR S&P DIVIDEND ETF | 78464A763 | 685 | $95,934 | 0.02% |
| 139 | MERCK & CO INC | MRK | 1,034 | $86,784 | 0.02% |
| 140 | BROOKFIELD ASSET MANAGEMENT LT | 113004105 | 1,402 | $79,763 | 0.02% |
| 141 | CHEVRON CORP | CVX | 500 | $77,645 | 0.02% |
| 142 | MASTERCARD INC | MA | 124 | $70,532 | 0.02% |
| 143 | BCE INC | BCPPF | 2,880 | $67,278 | 0.01% |
| 144 | PFIZER INC | PFE | 1,700 | $43,316 | 0.01% |
| 145 | WASTE CONNECTIONS INC | WCN | 240 | $42,180 | 0.01% |
| 146 | COLGATE-PALMOLIVE CO | CL | 514 | $41,089 | 0.01% |
| 147 | SOUTH BOW CORP | SOBO | 1,195 | $33,804 | 0.01% |
| 148 | HEALTH CARE SELECT SECTOR SPDR | 81369Y209 | 210 | $29,226 | 0.01% |
| 149 | CHECK POINT SOFTWARE TECHNOLOG | M22465104 | 138 | $28,554 | 0.01% |
| 150 | O'REILLY AUTOMOTIVE INC | 67103H107 | 262 | $28,246 | 0.01% |
| 151 | GENERAL DYNAMICS CORP | GD | 80 | $27,280 | 0.01% |
| 152 | MOTOROLA SOLUTIONS INC | MSI | 58 | $26,523 | 0.01% |
| 153 | AUTOZONE INC | AZO | 6 | $25,741 | 0.01% |
| 154 | NEWMONT CORP | NEMCL | 305 | $25,715 | 0.01% |
| 155 | VERISIGN INC | VRSN | 91 | $25,441 | 0.01% |
| 156 | LOCKHEED MARTIN CORP | LMT | 49 | $24,461 | 0.01% |
| 157 | CENCORA INC | COR | 78 | $24,377 | 0.01% |
| 158 | YUM! BRANDS INC | YUM | 158 | $24,016 | 0.01% |
| 159 | LINDE PLC | LIN | 50 | $23,750 | 0.01% |
| 160 | ROPER TECHNOLOGIES INC | ROP | 47 | $23,438 | 0.01% |
| 161 | AUTOMATIC DATA PROCESSING INC | ADP | 76 | $22,306 | 0.00% |
| 162 | WASTE MANAGEMENT INC | 94106L109 | 99 | $21,862 | 0.00% |
| 163 | GAMING AND LEISURE PROPERTIES | 36467J108 | 465 | $21,674 | 0.00% |
| 164 | REPUBLIC SERVICES INC | 760759100 | 93 | $21,342 | 0.00% |
| 165 | KIMBERLY-CLARK CORP | KMB | 170 | $21,138 | 0.00% |
| 166 | PROCTER & GAMBLE CO/THE | 742718109 | 137 | $21,050 | 0.00% |
| 167 | VERISK ANALYTICS INC | VRSK | 83 | $20,875 | 0.00% |
| 168 | NEXTERA ENERGY INC | NEE-PW | 240 | $18,118 | 0.00% |
| 169 | LITHIUM AMERICAS CORP | LTUM | 2,690 | $15,362 | 0.00% |
| 170 | OVINTIV INC | OVV | 347 | $14,006 | 0.00% |
| 171 | CENOVUS ENERGY INC | CVE | 775 | $13,155 | 0.00% |
| 172 | ISHARES GOLD TRUST | IAU | 150 | $10,914 | 0.00% |
| 173 | ORGANIGRAM GLOBAL INC | OGI | 5,000 | $10,129 | 0.00% |
| 174 | TESLA INC | TSLA | 22 | $9,784 | 0.00% |
| 175 | RIOT PLATFORMS INC | RIOT | 430 | $8,183 | 0.00% |
| 176 | SNDL INC | SNDL | 2,900 | $7,772 | 0.00% |
| 177 | HIVE DIGITAL TECHNOLOGIES LTD | HIVE | 1,673 | $6,742 | 0.00% |
| 178 | PALANTIR TECHNOLOGIES INC | PLTR | 35 | $6,385 | 0.00% |
| 179 | CIRCLE INTERNET GROUP INC | CRCL | 33 | $4,375 | 0.00% |
| 180 | ISHARES SILVER TRUST | SLV | 100 | $4,237 | 0.00% |
| 181 | OPEN TEXT CORP | OTEX | 110 | $4,110 | 0.00% |
| 182 | CRISPR THERAPEUTICS AG | CRSP | 60 | $3,889 | 0.00% |
| 183 | ARCHER AVIATION INC | ACHR-WT | 265 | $2,539 | 0.00% |
| 184 | BROOKFIELD WEALTH SOLUTIONS LT | BNT | 36 | $2,467 | 0.00% |
| 185 | VERTEX PHARMACEUTICALS INC | VRTX | 6 | $2,350 | 0.00% |
| 186 | GOLDMAN SACHS ACTIVEBETA US SM | NVGLF | 30 | $2,247 | 0.00% |
| 187 | MARA HOLDINGS INC | MARA | 115 | $2,100 | 0.00% |
| 188 | APPLIED MATERIALS INC | 038222105 | 10 | $2,047 | 0.00% |
| 189 | INTEL CORP | INTC | 60 | $2,013 | 0.00% |
| 190 | GALAXY DIGITAL INC | GLXY | 50 | $1,691 | 0.00% |
| 191 | MODERNA INC | MRNA | 62 | $1,601 | 0.00% |
| 192 | CHARLES RIVER LABORATORIES INT | 159864107 | 10 | $1,565 | 0.00% |
| 193 | DENTSPLY SIRONA INC | XRAY | 100 | $1,269 | 0.00% |
| 194 | WESTINGHOUSE AIR BRAKE TECHNOL | 929740108 | 4 | $802 | 0.00% |
| 195 | METHANEX CORP | MEOH | 20 | $795 | 0.00% |
| 196 | MIND MEDICINE MINDMED INC | 60255C885 | 52 | $613 | 0.00% |
| 197 | BROOKFIELD INFRASTRUCTURE CORP | BIPC | 12 | $493 | 0.00% |
| 198 | AMENTUM HOLDINGS INC | AMTM | 20 | $479 | 0.00% |
| 199 | PAYPAL HOLDINGS INC | PYPL | 5 | $335 | 0.00% |
| 200 | EMBECTA CORP | EMBC | 17 | $240 | 0.00% |
| 201 | ZIMVIE INC | 98888T107 | 7 | $133 | 0.00% |
| 202 | WYNN RESORTS LTD | WYNN | 1 | $128 | 0.00% |
| 203 | NIO INC | NIOIF | 16 | $122 | 0.00% |
| 204 | VIATRIS INC | VTRS | 12 | $119 | 0.00% |
| 205 | MGM RESORTS INTERNATIONAL | MGM | 1 | $35 | 0.00% |
| 206 | TILRAY BRANDS INC | TLRY | 12 | $21 | 0.00% |
| 207 | AURORA CANNABIS INC | ACB | 2 | $12 | 0.00% |
| 208 | CANOPY GROWTH CORP | CGC | 2 | $3 | 0.00% |