LOUISBOURG INVESTMENTS INC. Q3 2025 Filing

Filed October 9, 2025

Portfolio Value

$458.2B

Holdings

208

Report Date

Q3 2025

Filing Type

13F-HR

All Holdings (208 positions)

#StockSharesValue% PortfolioType
1
CNRCANADIAN NATIONAL RAILWAY CO
302,143$28.5B6.22%
2
SHOPSHOPIFY INC
101,446$15.1B3.29%
3
MSFTMICROSOFT CORP
31,662$13.3B2.90%
4
WPMWHEATON PRECIOUS METALS CORP
113,228$12.7B2.76%
5
IVVISHARES CORE S&P 500 ETF
18,400$12.3B2.69%
6
OROR ROYALTIES INC
292,871$11.7B2.56%
7
GILGILDAN ACTIVEWEAR INC
179,231$10.4B2.26%
8
RCI/BROGERS COMMUNICATIONS INC
281,520$9.7B2.11%
9
GOOGALPHABET INC
47,788$9.6B2.09%
10
TSMTSMC
36,213$8.6B1.88%
11
BNBROOKFIELD CORP
114,775$7.9B1.72%
12
VOOVANGUARD S&P 500 ETF
12,658$7.8B1.69%
13
AQLTISHARES CORE MSCI EAFE ETF
88,591$7.7B1.69%
14
LSPDLIGHTSPEED COMMERCE INC
652,062$7.5B1.64%
15
CIGICOLLIERS INTERNATIONAL GROUP I
46,847$7.3B1.60%
16
PPLPEMBINA PIPELINE CORP
180,723$7.3B1.59%
17
QSRRESTAURANT BRANDS INTERNATIONA
111,215$7.1B1.56%
18
AMZNAMAZON.COM INC
38,974$6.9B1.50%
19
CRMSALESFORCE INC
36,802$6.8B1.48%
20
BNSBANK OF NOVA SCOTIA/THE
103,164$6.7B1.46%
21
BDXBECTON DICKINSON & CO
46,790$6.6B1.45%
22
AVGOBROADCOM INC
23,610$6.6B1.44%
23
NTRNUTRIEN LTD
109,503$6.4B1.40%
24
METAMETA PLATFORMS INC
10,914$6.3B1.37%
25
TECK/BTECK RESOURCES LTD
139,912$6.1B1.34%
26
BRK-BBERKSHIRE HATHAWAY INC
8$6.0B1.32%
27
JNJJOHNSON & JOHNSON
39,572$5.9B1.29%
28
CRCCANADIAN NATURAL RESOURCES LTD
178,097$5.7B1.24%
29
ATSATS CORP
215,295$5.6B1.23%
30
JJACOBS SOLUTIONS INC
44,328$5.3B1.15%
31
TMUST-MOBILE US INC
27,319$5.2B1.14%
32
AG8AGILENT TECHNOLOGIES INC
48,820$5.0B1.09%
33
GIB/ACGI INC
55,973$5.0B1.09%
34
URIUNITED RENTALS INC
6,159$4.8B1.05%
35
CTSHCOGNIZANT TECHNOLOGY SOLUTIONS
91,986$4.8B1.05%
36
WTWWILLIS TOWERS WATSON PLC
17,671$4.7B1.02%
37
TDTORONTO-DOMINION BANK/THE
57,951$4.6B1.01%
38
SSRMSSR MINING INC
188,300$4.6B1.00%
39
DISWALT DISNEY CO/THE
49,455$4.5B0.99%
40
AEMAGNICO EAGLE MINES LTD
26,725$4.5B0.98%
41
NGDNEW GOLD INC
614,100$4.4B0.96%
42
OTISOTIS WORLDWIDE CORP
59,131$4.3B0.94%
43
KGCKINROSS GOLD CORP
173,500$4.3B0.94%
44
AYS1SANDSTORM GOLD LTD
338,282$4.2B0.92%
45
RYROYAL BANK OF CANADA
27,910$4.1B0.90%
46
CLSCELESTICA INC
16,300$4.0B0.88%
47
FTSFORTIS INC/CANADA
79,000$4.0B0.87%
48
VWOVANGUARD FTSE EMERGING MARKETS
69,608$3.8B0.82%
49
DSGDESCARTES SYSTEMS GROUP INC/TH
37,348$3.5B0.77%
50
COPCONOCOPHILLIPS
48,642$3.5B0.77%
51
ORCLORACLE CORP
12,669$3.5B0.76%
52
UNPUNION PACIFIC CORP
18,098$3.5B0.75%
53
BKBANK OF NEW YORK MELLON CORP/T
42,073$3.4B0.73%
54
ABTABBOTT LABORATORIES
31,544$3.3B0.73%
55
DLTRDOLLAR TREE INC
45,304$3.3B0.73%
56
DHRDANAHER CORP
21,480$3.3B0.71%
57
CBRECBRE GROUP INC
22,955$3.2B0.69%
58
DCBODOCEBO INC
111,672$3.0B0.66%
59
ULTAULTA BEAUTY INC
7,280$3.0B0.66%
60
ROSTROSS STORES INC
24,635$2.9B0.64%
61
ACNACCENTURE PLC
15,360$2.9B0.64%
62
CPCANADIAN PACIFIC KANSAS CITY L
36,700$2.7B0.60%
63
ALLEALLEGION PLC
18,725$2.7B0.60%
64
DGDOLLAR GENERAL CORP
35,302$2.7B0.59%
65
SUSUNCOR ENERGY INC
63,931$2.7B0.58%
66
MCDMCDONALD'S CORP
9,992$2.6B0.56%
67
KKRKKR & CO INC
25,357$2.5B0.55%
68
VVISA INC
9,719$2.5B0.54%
69
GFRGREENFIRE RESOURCES LTD
533,379$2.5B0.54%
70
STNSTANTEC INC
21,284$2.3B0.50%
71
MRSHMARSH & MCLENNAN COS INC
14,794$2.2B0.47%
72
RSPINVESCO S&P 500 EQUAL WEIGHT E
15,350$2.1B0.46%
73
ENQENTEGRIS INC
30,325$2.1B0.45%
74
COSTCOSTCO WHOLESALE CORP
2,200$2.0B0.44%
75
SAPSAP SE
7,580$2.0B0.44%
76
CNPCENTERPOINT ENERGY INC
69,518$2.0B0.44%
77
WFCWELLS FARGO & CO
28,744$1.8B0.39%
78
WMTWALMART INC
17,045$1.8B0.38%
79
HDHOME DEPOT INC/THE
4,000$1.6B0.35%
80
TJXTJX COS INC/THE
10,688$1.5B0.34%
81
KLACKLA CORP
1,686$1.5B0.32%
82
GOOGLALPHABET INC
5,865$1.4B0.31%
83
SHELSHELL PLC
18,290$1.3B0.29%
84
BMOBANK OF MONTREAL
8,428$1.1B0.24%
85
IGFISHARES GLOBAL INFRASTRUCTURE
17,419$1.1B0.23%
86
CSGPCOSTAR GROUP INC
15,685$1.1B0.23%
87
ENBENBRIDGE INC
18,508$933.4M0.20%
88
ASMLASML HOLDING NV
850$822.9M0.18%
89
NVDANVIDIA CORP
4,305$803.2M0.18%
90
MUFGMITSUBISHI UFJ FINANCIAL GROUP
45,310$722.2M0.16%
91
BRK/BBERKSHIRE HATHAWAY INC
1,409$708.4M0.15%
92
BPBP PLC
19,680$678.2M0.15%
93
TRITHOMSON REUTERS CORP
4,256$660.7M0.14%
94
RIORIO TINTO PLC
9,680$639.0M0.14%
95
GSGOLDMAN SACHS GROUP INC/THE
1,084$630.9M0.14%
96
BHPBHP GROUP LTD
11,080$617.7M0.13%
97
VEAVANGUARD FTSE DEVELOPED MARKET
10,000$599.2M0.13%
98
TRPTC ENERGY CORP
10,975$596.6M0.13%
99
AAPLAPPLE INC
2,640$564.6M0.12%
100
BSXBOSTON SCIENTIFIC CORP
7,280$534.9M0.12%
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