13F HOLDINGS REPORT
LOUISBOURG INVESTMENTS INC.
Quarter ended Q4 2025 · Filed January 16, 2026 · Accession 0002053050-26-000001
Total Value
$501.9M
Positions
213
Other Managers
0
Confidential Omitted
No
Holdings (213)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | CANADIAN NATIONAL RAILWAY CO | 136375102 | 289,946 | $28.7M | 5.72% |
| 2 | MICROSOFT CORP | MSFT | 33,247 | $13.3M | 2.65% |
| 3 | ALPHABET INC | GOOG | 49,683 | $13.1M | 2.60% |
| 4 | ISHARES CORE S&P 500 ETF | 464287200 | 17,880 | $12.2M | 2.44% |
| 5 | WHEATON PRECIOUS METALS CORP | WPM | 91,770 | $10.8M | 2.15% |
| 6 | SHOPIFY INC | SHOP | 66,870 | $10.8M | 2.15% |
| 7 | TSMC | 874039100 | 40,369 | $10.5M | 2.10% |
| 8 | ROGERS COMMUNICATIONS INC | RCIAF | 261,833 | $9.9M | 1.97% |
| 9 | GILDAN ACTIVEWEAR INC | GIL | 145,996 | $9.1M | 1.82% |
| 10 | PEMBINA PIPELINE CORP | PPLOF | 227,338 | $8.7M | 1.73% |
| 11 | VANGUARD S&P 500 ETF | 922908363 | 13,237 | $8.3M | 1.65% |
| 12 | SALESFORCE INC | CRM | 39,198 | $8.3M | 1.65% |
| 13 | AMAZON.COM INC | AMZN | 43,301 | $8.2M | 1.63% |
| 14 | ISHARES CORE MSCI EAFE ETF | 46432F842 | 91,057 | $8.1M | 1.62% |
| 15 | LIGHTSPEED COMMERCE INC | LSPD | 646,233 | $7.8M | 1.56% |
| 16 | OR ROYALTIES INC | OR | 219,271 | $7.8M | 1.55% |
| 17 | BROOKFIELD CORP | 11271J107 | 167,148 | $7.7M | 1.53% |
| 18 | TECK RESOURCES LTD | TCKRF | 159,462 | $7.6M | 1.52% |
| 19 | COLLIERS INTERNATIONAL GROUP I | 194693107 | 51,772 | $7.6M | 1.52% |
| 20 | BOYD GROUP INC | BGSI | 46,456 | $7.3M | 1.45% |
| 21 | BECTON DICKINSON & CO | BDX | 46,814 | $7.2M | 1.44% |
| 22 | META PLATFORMS INC | META | 13,555 | $7.2M | 1.43% |
| 23 | BROADCOM INC | AVGO | 23,051 | $6.9M | 1.37% |
| 24 | T-MOBILE US INC | TMUSZ | 41,923 | $6.8M | 1.36% |
| 25 | DESCARTES SYSTEMS GROUP INC/TH | 249906108 | 71,863 | $6.3M | 1.26% |
| 26 | COGNIZANT TECHNOLOGY SOLUTIONS | CTSH | 93,718 | $6.3M | 1.25% |
| 27 | BERKSHIRE HATHAWAY INC | BRK-A | 8 | $6.0M | 1.20% |
| 28 | CGI INC | GIB | 61,824 | $5.7M | 1.14% |
| 29 | ATS CORP | ATS | 207,130 | $5.7M | 1.14% |
| 30 | BANK OF NOVA SCOTIA/THE | 064149107 | 77,235 | $5.7M | 1.14% |
| 31 | JOHNSON & JOHNSON | JNJ | 32,912 | $5.7M | 1.13% |
| 32 | OTIS WORLDWIDE CORP | OTIS | 76,277 | $5.4M | 1.08% |
| 33 | RESTAURANT BRANDS INTERNATIONA | 76131D103 | 78,097 | $5.3M | 1.06% |
| 34 | HUDBAY MINERALS INC | HBM | 263,900 | $5.2M | 1.05% |
| 35 | NUTRIEN LTD | NTR | 84,193 | $5.2M | 1.04% |
| 36 | JACOBS SOLUTIONS INC | J | 47,612 | $5.1M | 1.02% |
| 37 | IAMGOLD CORP | IAG | 308,400 | $5.1M | 1.02% |
| 38 | NEW GOLD INC | 644535106 | 563,400 | $4.9M | 0.98% |
| 39 | EQUINOX GOLD CORP | EQX | 345,600 | $4.9M | 0.97% |
| 40 | KINROSS GOLD CORP | KGCRF | 171,700 | $4.8M | 0.96% |
| 41 | WALT DISNEY CO/THE | 254687106 | 51,939 | $4.8M | 0.96% |
| 42 | WILLIS TOWERS WATSON PLC | WTW | 18,693 | $4.8M | 0.96% |
| 43 | ROYAL BANK OF CANADA | 780087102 | 28,015 | $4.8M | 0.95% |
| 44 | UNITED RENTALS INC | URI | 7,111 | $4.7M | 0.95% |
| 45 | COSTAR GROUP INC | CSGP | 90,322 | $4.7M | 0.95% |
| 46 | TORONTO-DOMINION BANK/THE | TORO | 48,419 | $4.6M | 0.91% |
| 47 | SSR MINING INC | SSRGF | 207,800 | $4.6M | 0.91% |
| 48 | CANADIAN NATURAL RESOURCES LTD | 136385101 | 132,837 | $4.5M | 0.90% |
| 49 | ENERGY FUELS INC/CANADA | UUUU | 304,200 | $4.4M | 0.88% |
| 50 | SUNCOR ENERGY INC | SU | 96,579 | $4.3M | 0.86% |
| 51 | CELESTICA INC | CLS | 14,100 | $4.2M | 0.83% |
| 52 | AGILENT TECHNOLOGIES INC | A | 35,874 | $4.1M | 0.82% |
| 53 | STANTEC INC | STN | 42,005 | $4.0M | 0.79% |
| 54 | ROYAL GOLD INC | RGLD | 17,717 | $3.9M | 0.78% |
| 55 | DOLLAR TREE INC | DLTR | 39,091 | $3.9M | 0.78% |
| 56 | ABBOTT LABORATORIES | ABLZF | 38,563 | $3.9M | 0.77% |
| 57 | FIRSTSERVICE CORP | FSV | 24,640 | $3.8M | 0.76% |
| 58 | VANGUARD FTSE EMERGING MARKETS | 922042858 | 71,236 | $3.8M | 0.76% |
| 59 | CONOCOPHILLIPS | COP | 50,143 | $3.7M | 0.73% |
| 60 | UNION PACIFIC CORP | UNP | 19,012 | $3.6M | 0.72% |
| 61 | INVESCO S&P 500 EQUAL WEIGHT E | IVZ | 24,300 | $3.5M | 0.70% |
| 62 | DOLLAR GENERAL CORP | 256677105 | 32,739 | $3.3M | 0.66% |
| 63 | DANAHER CORP | 235851102 | 18,064 | $3.3M | 0.66% |
| 64 | BANK OF NEW YORK MELLON CORP/T | 064058100 | 36,827 | $3.2M | 0.65% |
| 65 | ROSS STORES INC | ROST | 22,267 | $3.2M | 0.64% |
| 66 | KKR & CO INC | KKRT | 31,575 | $3.2M | 0.63% |
| 67 | ACCENTURE PLC | ACN | 15,196 | $3.2M | 0.63% |
| 68 | CENOVUS ENERGY INC | CVE | 180,588 | $3.1M | 0.61% |
| 69 | CBRE GROUP INC | CBRE | 21,341 | $3.0M | 0.59% |
| 70 | GREENFIRE RESOURCES LTD | 39525U107 | 597,344 | $2.9M | 0.57% |
| 71 | VISA INC | V | 10,376 | $2.8M | 0.56% |
| 72 | CANADIAN PACIFIC KANSAS CITY L | CP | 37,890 | $2.8M | 0.56% |
| 73 | MCDONALD'S CORP | MCD | 10,349 | $2.7M | 0.54% |
| 74 | ULTA BEAUTY INC | ULTA | 5,644 | $2.7M | 0.54% |
| 75 | ALLEGION PLC | ALLE | 19,619 | $2.6M | 0.52% |
| 76 | ENTEGRIS INC | ENTG | 38,519 | $2.5M | 0.49% |
| 77 | FORTIS INC/CANADA | FTRSF | 45,127 | $2.3M | 0.47% |
| 78 | DOCEBO INC | DCBO | 101,672 | $2.3M | 0.45% |
| 79 | CENTERPOINT ENERGY INC | CNP | 74,258 | $2.2M | 0.44% |
| 80 | WELLS FARGO & CO | 949746101 | 30,783 | $2.2M | 0.44% |
| 81 | SAP SE | SAPGF | 8,480 | $2.1M | 0.41% |
| 82 | ORACLE CORP | ORCL-PD | 10,225 | $2.0M | 0.40% |
| 83 | WALMART INC | WMT | 17,045 | $1.9M | 0.38% |
| 84 | COSTCO WHOLESALE CORP | 22160K105 | 2,200 | $1.9M | 0.38% |
| 85 | THOMSON REUTERS CORP | TMSOF | 13,720 | $1.8M | 0.36% |
| 86 | ALPHABET INC | GOOG | 5,500 | $1.7M | 0.34% |
| 87 | TJX COS INC/THE | 872540109 | 10,688 | $1.6M | 0.33% |
| 88 | HOME DEPOT INC/THE | HD | 4,000 | $1.4M | 0.27% |
| 89 | ISHARES GLOBAL INFRASTRUCTURE | 464288372 | 18,216 | $1.1M | 0.22% |
| 90 | SHELL PLC | RYDAF | 14,890 | $1.1M | 0.22% |
| 91 | BANK OF MONTREAL | 063671101 | 8,400 | $1.1M | 0.22% |
| 92 | KLA CORP | KLAC | 856 | $934,973 | 0.19% |
| 93 | NETFLIX INC | NFLX | 11,926 | $903,324 | 0.18% |
| 94 | ENBRIDGE INC | ENNPF | 18,308 | $877,331 | 0.17% |
| 95 | NVIDIA CORP | NVDA | 4,305 | $802,883 | 0.16% |
| 96 | GOLDMAN SACHS GROUP INC/THE | GSCE | 1,163 | $776,046 | 0.15% |
| 97 | RIO TINTO PLC | RTNTF | 9,680 | $774,690 | 0.15% |
| 98 | SUMITOMO MITSUI FINANCIAL GROU | 86562M209 | 39,152 | $756,808 | 0.15% |
| 99 | MITSUBISHI UFJ FINANCIAL GROUP | 606822104 | 45,632 | $723,724 | 0.14% |
| 100 | ASML HOLDING NV | ASMLF | 650 | $695,409 | 0.14% |
| 101 | BERKSHIRE HATHAWAY INC | BRK-A | 1,366 | $686,620 | 0.14% |
| 102 | BHP GROUP LTD | BHPLF | 11,080 | $668,900 | 0.13% |
| 103 | VANGUARD FTSE DEVELOPED MARKET | 921943858 | 10,000 | $624,700 | 0.12% |
| 104 | APPLE INC | AAPL | 2,640 | $607,447 | 0.12% |
| 105 | TC ENERGY CORP | TRPRF | 10,975 | $605,202 | 0.12% |
| 106 | BOSTON SCIENTIFIC CORP | BSX | 7,867 | $585,243 | 0.12% |
| 107 | AMGEN INC | AMGN | 1,700 | $556,427 | 0.11% |
| 108 | BP PLC | BPPFF | 15,680 | $544,566 | 0.11% |
| 109 | TOTALENERGIES SE | TTE | 7,240 | $473,641 | 0.09% |
| 110 | MANULIFE FINANCIAL CORP | 56501R106 | 11,565 | $420,545 | 0.08% |
| 111 | BARRICK MINING CORP | 06849F108 | 9,185 | $400,679 | 0.08% |
| 112 | SPDR S&P 500 ETF TRUST | SPY | 478 | $325,958 | 0.06% |
| 113 | ABBVIE INC | ABBV | 1,395 | $318,744 | 0.06% |
| 114 | EMERA INC | EMRJF | 6,400 | $315,844 | 0.06% |
| 115 | SUN LIFE FINANCIAL INC | SUNFF | 4,955 | $309,751 | 0.06% |
| 116 | NIKE INC | NKE | 4,500 | $286,695 | 0.06% |
| 117 | FOX CORP | FOX | 3,740 | $273,282 | 0.05% |
| 118 | AGNICO EAGLE MINES LTD | AEM | 1,435 | $243,697 | 0.05% |
| 119 | CISCO SYSTEMS INC | CSCO | 3,133 | $241,335 | 0.05% |
| 120 | UNIVERSAL HEALTH SERVICES INC | 913903100 | 1,080 | $235,462 | 0.05% |
| 121 | IMPERIAL OIL LTD | IMO | 2,570 | $222,348 | 0.04% |
| 122 | GE HEALTHCARE TECHNOLOGIES INC | GEHC | 2,665 | $218,583 | 0.04% |
| 123 | SNAP-ON INC | SNA | 575 | $198,145 | 0.04% |
| 124 | WESTERN DIGITAL CORP | WDC | 1,150 | $198,110 | 0.04% |
| 125 | CAPITAL ONE FINANCIAL CORP | 14040H105 | 815 | $197,523 | 0.04% |
| 126 | INVESCO LTD | IVZ | 7,475 | $196,368 | 0.04% |
| 127 | KROGER CO/THE | KR | 2,970 | $185,566 | 0.04% |
| 128 | BROOKFIELD INFRASTRUCTURE PART | G16252101 | 5,128 | $178,503 | 0.04% |
| 129 | MOLSON COORS BEVERAGE CO | TAP-A | 3,820 | $178,318 | 0.04% |
| 130 | LEIDOS HOLDINGS INC | LDOS | 910 | $164,164 | 0.03% |
| 131 | ARISTA NETWORKS INC | ANET | 1,175 | $153,960 | 0.03% |
| 132 | CENCORA INC | COR | 430 | $145,232 | 0.03% |
| 133 | HP INC | HPQ | 6,450 | $143,706 | 0.03% |
| 134 | GRANITE REAL ESTATE INVESTMENT | 387437205 | 2,400 | $143,079 | 0.03% |
| 135 | PAYCHEX INC | PAYX | 1,200 | $134,616 | 0.03% |
| 136 | ALTRIA GROUP INC | MO | 2,308 | $133,079 | 0.03% |
| 137 | ENTERGY CORP | ENO | 1,400 | $129,402 | 0.03% |
| 138 | CME GROUP INC | CME | 466 | $127,255 | 0.03% |
| 139 | ISHARES MSCI EAFE ETF | 464287465 | 1,295 | $124,359 | 0.02% |
| 140 | RTX CORP | RTX | 635 | $116,459 | 0.02% |
| 141 | MCKESSON CORP | MCK | 140 | $114,841 | 0.02% |
| 142 | CBOE GLOBAL MARKETS INC | 12503M108 | 392 | $98,392 | 0.02% |
| 143 | DUKE ENERGY CORP | DUKB | 800 | $93,768 | 0.02% |
| 144 | STATE STREET SPDR S&P DIVIDEND | 78464A763 | 635 | $88,367 | 0.02% |
| 145 | CHEVRON CORP | CVX | 500 | $76,205 | 0.02% |
| 146 | BROOKFIELD ASSET MANAGEMENT LT | 113004105 | 1,402 | $73,547 | 0.01% |
| 147 | MASTERCARD INC | MA | 114 | $65,080 | 0.01% |
| 148 | TELUS CORP | TU | 4,239 | $55,949 | 0.01% |
| 149 | PFIZER INC | PFE | 1,700 | $42,330 | 0.01% |
| 150 | WASTE CONNECTIONS INC | WCN | 240 | $42,151 | 0.01% |
| 151 | COLGATE-PALMOLIVE CO | CL | 514 | $40,616 | 0.01% |
| 152 | SOUTH BOW CORP | SOBO | 1,195 | $32,914 | 0.01% |
| 153 | STATE STREET HEALTH CARE SELEC | 81369Y209 | 210 | $32,508 | 0.01% |
| 154 | LOCKHEED MARTIN CORP | LMT | 66 | $31,922 | 0.01% |
| 155 | BCE INC | BCPPF | 1,317 | $31,460 | 0.01% |
| 156 | NEWMONT CORP | NEMCL | 305 | $30,454 | 0.01% |
| 157 | YUM! BRANDS INC | YUM | 158 | $23,902 | 0.00% |
| 158 | O'REILLY AUTOMOTIVE INC | 67103H107 | 262 | $23,897 | 0.00% |
| 159 | MOTOROLA SOLUTIONS INC | MSI | 58 | $22,233 | 0.00% |
| 160 | VERISIGN INC | VRSN | 91 | $22,108 | 0.00% |
| 161 | WASTE MANAGEMENT INC | 94106L109 | 99 | $21,751 | 0.00% |
| 162 | LINDE PLC | LIN | 50 | $21,319 | 0.00% |
| 163 | ROPER TECHNOLOGIES INC | ROP | 47 | $20,921 | 0.00% |
| 164 | GAMING AND LEISURE PROPERTIES | 36467J108 | 465 | $20,781 | 0.00% |
| 165 | AUTOZONE INC | AZO | 6 | $20,349 | 0.00% |
| 166 | REPUBLIC SERVICES INC | 760759100 | 93 | $19,709 | 0.00% |
| 167 | PROCTER & GAMBLE CO/THE | 742718109 | 137 | $19,633 | 0.00% |
| 168 | AUTOMATIC DATA PROCESSING INC | ADP | 76 | $19,549 | 0.00% |
| 169 | NEXTERA ENERGY INC | NEE-PW | 240 | $19,267 | 0.00% |
| 170 | VERISK ANALYTICS INC | VRSK | 83 | $18,566 | 0.00% |
| 171 | KIMBERLY-CLARK CORP | KMB | 170 | $17,151 | 0.00% |
| 172 | OVINTIV INC | OVV | 347 | $13,618 | 0.00% |
| 173 | ISHARES GOLD TRUST | IAU | 140 | $11,362 | 0.00% |
| 174 | SOUNDHOUND AI INC | SOUNW | 1,000 | $9,970 | 0.00% |
| 175 | TESLA INC | TSLA | 22 | $9,894 | 0.00% |
| 176 | CAMECO CORP | CCJ | 100 | $9,170 | 0.00% |
| 177 | ORGANIGRAM GLOBAL INC | OGI | 5,000 | $8,427 | 0.00% |
| 178 | ARCHER AVIATION INC | ACHR-WT | 745 | $5,602 | 0.00% |
| 179 | RIOT PLATFORMS INC | RIOT | 430 | $5,448 | 0.00% |
| 180 | COINBASE GLOBAL INC | COIN | 23 | $5,201 | 0.00% |
| 181 | SNDL INC | SNDL | 2,900 | $4,814 | 0.00% |
| 182 | CRISPR THERAPEUTICS AG | CRSP | 80 | $4,195 | 0.00% |
| 183 | OPEN TEXT CORP | OTEX | 110 | $3,587 | 0.00% |
| 184 | CIRCLE INTERNET GROUP INC | CRCL | 45 | $3,569 | 0.00% |
| 185 | INTEL CORP | INTC | 110 | $3,560 | 0.00% |
| 186 | PACIFIC BIOSCIENCES OF CALIFOR | 69404D108 | 1,900 | $3,553 | 0.00% |
| 187 | TWIST BIOSCIENCE CORP | TWST | 95 | $3,013 | 0.00% |
| 188 | VERTEX PHARMACEUTICALS INC | VRTX | 6 | $2,720 | 0.00% |
| 189 | APPLIED MATERIALS INC | 038222105 | 10 | $2,570 | 0.00% |
| 190 | BROOKFIELD WEALTH SOLUTIONS LT | BNT | 53 | $2,444 | 0.00% |
| 191 | GOLDMAN SACHS ACTIVEBETA US SM | NVGLF | 30 | $2,269 | 0.00% |
| 192 | NAVITAS SEMICONDUCTOR CORP | NVTS | 300 | $2,142 | 0.00% |
| 193 | CHARLES RIVER LABORATORIES INT | 159864107 | 10 | $1,995 | 0.00% |
| 194 | RECURSION PHARMACEUTICALS INC | RXRX | 475 | $1,943 | 0.00% |
| 195 | MODERNA INC | MRNA | 62 | $1,828 | 0.00% |
| 196 | INTELLIA THERAPEUTICS INC | NTLA | 200 | $1,798 | 0.00% |
| 197 | TEMPUS AI INC | TEM | 30 | $1,772 | 0.00% |
| 198 | DENTSPLY SIRONA INC | XRAY | 100 | $1,143 | 0.00% |
| 199 | GALAXY DIGITAL INC | GLXY | 50 | $1,121 | 0.00% |
| 200 | MARA HOLDINGS INC | MARA | 115 | $1,033 | 0.00% |
| 201 | WESTINGHOUSE AIR BRAKE TECHNOL | 929740108 | 4 | $854 | 0.00% |
| 202 | METHANEX CORP | MEOH | 20 | $794 | 0.00% |
| 203 | BROOKFIELD INFRASTRUCTURE CORP | BIPC | 12 | $546 | 0.00% |
| 204 | PAYPAL HOLDINGS INC | PYPL | 5 | $292 | 0.00% |
| 205 | EMBECTA CORP | EMBC | 17 | $202 | 0.00% |
| 206 | VIATRIS INC | VTRS | 12 | $149 | 0.00% |
| 207 | AMENTUM HOLDINGS INC | AMTM | 5 | $145 | 0.00% |
| 208 | WYNN RESORTS LTD | WYNN | 1 | $120 | 0.00% |
| 209 | NIO INC | NIOIF | 16 | $82 | 0.00% |
| 210 | MGM RESORTS INTERNATIONAL | MGM | 1 | $36 | 0.00% |
| 211 | TILRAY BRANDS INC | TLRY | 1 | $9 | 0.00% |
| 212 | AURORA CANNABIS INC | ACB | 2 | $8 | 0.00% |
| 213 | CANOPY GROWTH CORP | CGC | 2 | $2 | 0.00% |