LOUISBOURG INVESTMENTS INC. Q2 2025 Filing

Filed July 24, 2025

Portfolio Value

$424.3B

Holdings

200

Report Date

Q2 2025

Filing Type

13F-HR

All Holdings (200 positions)

#StockSharesValue% PortfolioType
1
CNRCANADIAN NATIONAL RAILWAY CO
292,414$30.4B7.17%
2
MSFTMICROSOFT CORP
31,270$12.7B3.00%
3
SHOPSHOPIFY INC
108,287$12.5B2.94%
4
IVVISHARES CORE S&P 500 ETF
19,360$12.0B2.83%
5
WPMWHEATON PRECIOUS METALS CORP
115,846$10.4B2.45%
6
RCI/BROGERS COMMUNICATIONS INC
309,985$9.2B2.16%
7
OROR ROYALTIES INC
348,831$8.9B2.11%
8
TSMTSMC
45,213$8.8B2.09%
9
CIGICOLLIERS INTERNATIONAL GROUP I
60,543$7.9B1.86%
10
BNBROOKFIELD CORP
122,846$7.6B1.79%
11
GOOGALPHABET INC
50,428$7.4B1.75%
12
GILGILDAN ACTIVEWEAR INC
145,316$7.1B1.68%
13
AQLTISHARES CORE MSCI EAFE ETF
84,484$7.1B1.66%
14
AMZNAMAZON.COM INC
39,024$7.0B1.65%
15
NTRNUTRIEN LTD
117,973$6.9B1.62%
16
VOOVANGUARD S&P 500 ETF
11,785$6.7B1.58%
17
BDXBECTON DICKINSON & CO
49,590$6.6B1.55%
18
LSPDLIGHTSPEED COMMERCE INC
552,705$6.5B1.53%
19
BNSBANK OF NOVA SCOTIA/THE
117,292$6.5B1.53%
20
PPLPEMBINA PIPELINE CORP
171,325$6.4B1.51%
21
METAMETA PLATFORMS INC
10,914$6.4B1.51%
22
CRMSALESFORCE INC
29,157$6.4B1.50%
23
AVGOBROADCOM INC
26,670$6.2B1.46%
24
BRK-BBERKSHIRE HATHAWAY INC
8$5.8B1.37%
25
CRCCANADIAN NATURAL RESOURCES LTD
181,202$5.7B1.34%
26
TDTORONTO-DOMINION BANK/THE
73,974$5.4B1.28%
27
TMUST-MOBILE US INC
27,319$5.3B1.25%
28
JNJJOHNSON & JOHNSON
42,112$5.2B1.23%
29
URIUNITED RENTALS INC
8,308$5.1B1.20%
30
CTSHCOGNIZANT TECHNOLOGY SOLUTIONS
80,236$5.0B1.17%
31
DISWALT DISNEY CO/THE
49,430$5.0B1.17%
32
QSRRESTAURANT BRANDS INTERNATIONA
74,109$4.9B1.16%
33
JJACOBS SOLUTIONS INC
44,328$4.7B1.11%
34
AG8AGILENT TECHNOLOGIES INC
47,220$4.5B1.05%
35
GIB/ACGI INC
42,340$4.4B1.05%
36
WTWWILLIS TOWERS WATSON PLC
17,671$4.2B0.99%
37
CLSCELESTICA INC
26,900$4.2B0.99%
38
TECK/BTECK RESOURCES LTD
98,173$4.0B0.93%
39
AYS1SANDSTORM GOLD LTD
421,282$4.0B0.93%
40
CBRECBRE GROUP INC
32,555$3.9B0.91%
41
RYROYAL BANK OF CANADA
28,233$3.7B0.88%
42
DLTRDOLLAR TREE INC
45,160$3.5B0.83%
43
ACNACCENTURE PLC
14,085$3.5B0.82%
44
FTSFORTIS INC/CANADA
72,562$3.5B0.81%
45
ABTABBOTT LABORATORIES
31,544$3.4B0.81%
46
NGDNEW GOLD INC
685,700$3.4B0.80%
47
COPCONOCOPHILLIPS
48,672$3.4B0.80%
48
DSGDESCARTES SYSTEMS GROUP INC/TH
33,166$3.4B0.79%
49
IMGIAMGOLD CORP
454,200$3.3B0.79%
50
KGCKINROSS GOLD CORP
211,200$3.3B0.78%
51
ATSATS CORP
101,522$3.2B0.76%
52
DCBODOCEBO INC
111,672$3.2B0.76%
53
RSPINVESCO S&P 500 EQUAL WEIGHT E
23,650$3.2B0.75%
54
AEMAGNICO EAGLE MINES LTD
26,550$3.2B0.74%
55
VWOVANGUARD FTSE EMERGING MARKETS
62,794$3.1B0.73%
56
ORCLORACLE CORP
14,709$3.1B0.72%
57
FNVFRANCO-NEVADA CORP
18,500$3.0B0.71%
58
ROSTROSS STORES INC
30,235$3.0B0.71%
59
OLAORLA MINING LTD
294,900$3.0B0.70%
60
SUSUNCOR ENERGY INC
78,394$2.9B0.69%
61
KKRKKR & CO INC
28,232$2.9B0.69%
62
OTXOPEN TEXT CORP
98,571$2.9B0.68%
63
BKBANK OF NEW YORK MELLON CORP/T
42,173$2.9B0.68%
64
STNSTANTEC INC
25,826$2.8B0.66%
65
VVISA INC
9,719$2.6B0.62%
66
ALLEALLEGION PLC
21,945$2.6B0.60%
67
MCDMCDONALD'S CORP
9,992$2.5B0.59%
68
UNPUNION PACIFIC CORP
12,598$2.4B0.56%
69
ULTAULTA BEAUTY INC
6,270$2.3B0.54%
70
CPCANADIAN PACIFIC KANSAS CITY L
28,709$2.3B0.54%
71
DGDOLLAR GENERAL CORP
26,102$2.3B0.53%
72
COSTCOSTCO WHOLESALE CORP
2,200$2.2B0.51%
73
GFRGREENFIRE RESOURCES LTD
483,379$2.1B0.51%
74
ENQENTEGRIS INC
34,825$2.1B0.50%
75
CNPCENTERPOINT ENERGY INC
71,518$2.0B0.47%
76
OTISOTIS WORLDWIDE CORP
21,541$1.9B0.44%
77
WFCWELLS FARGO & CO
28,844$1.7B0.41%
78
WMTWALMART INC
17,045$1.7B0.39%
79
CSGPCOSTAR GROUP INC
26,530$1.7B0.39%
80
KLACKLA CORP
2,186$1.6B0.37%
81
HDHOME DEPOT INC/THE
4,100$1.5B0.35%
82
TJXTJX COS INC/THE
11,309$1.4B0.33%
83
SHELSHELL PLC
18,290$1.3B0.30%
84
SAPSAP SE
4,180$1.3B0.30%
85
GOOGLALPHABET INC
5,865$1.0B0.24%
86
IGFISHARES GLOBAL INFRASTRUCTURE
16,677$987.3M0.23%
87
ASMLASML HOLDING NV
1,200$961.7M0.23%
88
BMOBANK OF MONTREAL
8,428$932.3M0.22%
89
TRITHOMSON REUTERS CORP
4,537$910.7M0.21%
90
MRSHMARSH & MCLENNAN COS INC
5,479$893.6M0.21%
91
ENBENBRIDGE INC
15,208$688.3M0.16%
92
NVDANVIDIA CORP
4,255$672.2M0.16%
93
BRK/BBERKSHIRE HATHAWAY INC
1,329$645.6M0.15%
94
MUFGMITSUBISHI UFJ FINANCIAL GROUP
45,310$621.7M0.15%
95
BSXBOSTON SCIENTIFIC CORP
7,280$598.5M0.14%
96
BPBP PLC
19,680$589.0M0.14%
97
NFLXNETFLIX INC
528$576.5M0.14%
98
GSGOLDMAN SACHS GROUP INC/THE
1,084$571.4M0.13%
99
VEAVANGUARD FTSE DEVELOPED MARKET
10,000$570.1M0.13%
100
RIORIO TINTO PLC
9,680$564.6M0.13%
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