LOUISBOURG INVESTMENTS INC.
Long book
$528.8M
Q1 2026
Positions
216
Top-10 weight
25%
concentration
Last quarter
+2.2%
SPY +14.8%
Turnover
13%
of book per quarter
Strategy in plain words
auto-generated from filingsLOUISBOURG INVESTMENTS INC. is an institutional manager, running a $528.8M US long book across 216 positions.
The portfolio is broadly diversified across 216 positions (top 10 only 25%). Turnover is modest: positions are typically held for years. Current anchor positions: CANADIAN NATL RAILWAY CO, SHOPIFY INC - CLASS A, MICROSOFT CORP, ALPHABET INC-CL C, ISHARES CORE S&P 500 ETF.
Over the last 9 quarters its long book ran on average 1.2pp per quarter behind the S&P 500, beating the index in 6 of 9 quarters. Signal value of individual moves is limited — treat changes as weak evidence.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-1.3%
Q2 2024
+8.6%
Q3 2024
-0.8%
Q4 2024
-2.9%
Q1 2025
+11.9%
Q2 2025
+10.5%
Q3 2025
+3.4%
Q4 2025
-2.0%
Q1 2026
+2.2%
Sector allocation
Technology 18%
Materials 18%
Services media 11%
Industrials 10%
Financials 10%
Consumer discretionary 7%
Energy 7%
Real estate 6%
Long book by quarter
What does LOUISBOURG INVESTMENTS own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| CNI CANADIAN NATL RAILWAY CO | Industrials | 287.4K | $29.5M | 5.6% | -0.9% |
| SHOP SHOPIFY INC - CLASS A | Technology | 123.6K | $14.6M | 2.8% | +84.9% |
| MSFT MICROSOFT CORP | Technology | 42.8K | $12.8M | 2.4% | +28.8% |
| GOOG ALPHABET INC-CL C | Technology | 51.1K | $12.2M | 2.3% | +2.8% |
| WPM WHEATON PRECIOUS METALS CORP | Materials | 85.6K | $11.2M | 2.1% | -6.7% |
| BN BROOKFIELD CORP | Real estate | 264.9K | $10.7M | 2.0% | +58.5% |
| TECK TECK RESOURCES LTD-CLS B | Materials | 175.8K | $9.1M | 1.7% | +10.3% |
| GIL GILDAN ACTIVEWEAR INC | Other | 155.5K | $8.6M | 1.6% | +6.5% |
| OR OR ROYALTIES INC | Materials | 221.8K | $8.4M | 1.6% | +1.1% |
| AMZN AMAZON.COM INC | Consumer discretionary | 49.4K | $8.3M | 1.6% | +14.1% |
| CIGI COLLIERS INTL GR-SUBORD VOT | Real estate | 75.9K | $8.1M | 1.5% | +46.6% |
| CRM SALESFORCE INC | Technology | 54.1K | $8.0M | 1.5% | +38.1% |
| AVGO BROADCOM INC | Technology | 29.3K | $7.6M | 1.4% | +27.3% |
| TMUS T-MOBILE US INC | Communications | 44.3K | $7.4M | 1.4% | +5.7% |
| FNV FRANCO-NEVADA CORP | Materials | 29.8K | $7.4M | 1.4% | New |
| META META PLATFORMS INC-CLASS A | Technology | 14.9K | $6.8M | 1.3% | +9.9% |
| STN STANTEC INC | Services media | 78.6K | $6.8M | 1.3% | +87.0% |
| SSRM SSR MINING INC | Financials | 225.4K | $6.6M | 1.2% | +8.5% |
| TRI4EUR THOMSON REUTERS CORP | — | 72.8K | $6.6M | 1.2% | +430.8% |
| CNQ CANADIAN NATURAL RESOURCES | Energy | 133.0K | $6.5M | 1.2% | +0.1% |
| BGSI THE BOYD GROUP INC | Services media | 51.2K | $6.4M | 1.2% | +10.3% |
| UUUU ENERGY FUELS INC | Materials | 339.5K | $6.2M | 1.2% | +11.6% |
| BNS BANK OF NOVA SCOTIA | Financials | 89.5K | $6.2M | 1.2% | +15.9% |
| LSPD LIGHTSPEED COMMERCE INC | Technology | 672.8K | $6.0M | 1.1% | +4.1% |
| KGC KINROSS GOLD CORP | Materials | 196.1K | $6.0M | 1.1% | +14.2% |
| AG FIRST MAJESTIC SILVER CORP | Materials | 279.6K | $6.0M | 1.1% | New |
| HBM HUDBAY MINERALS INC | Materials | 285.9K | $6.0M | 1.1% | +8.3% |
| IAG IAMGOLD CORP | Materials | 318.3K | $6.0M | 1.1% | +3.2% |
| CVE CENOVUS ENERGY INC | Energy | 225.2K | $6.0M | 1.1% | +24.7% |
| PBA PEMBINA PIPELINE CORP | Energy | 129.5K | $5.8M | 1.1% | -43.0% |
| GIB CGI INC | Services media | 78.8K | $5.8M | 1.1% | +27.5% |
| BRK/A BERKSHIRE HATHAWAY INC-CL A | Financials | 8 | $5.7M | 1.1% | Held |
| BDX BECTON DICKINSON AND CO | Healthcare | 46.2K | $5.7M | 1.1% | -1.4% |
| DSGX DESCARTES SYSTEMS GRP/THE | Technology | 79.7K | $5.7M | 1.1% | +10.9% |
| CDE COEUR MINING INC | Materials | 292.5K | $5.5M | 1.0% | New |
| NTR NUTRIEN LTD | Other | 72.1K | $5.4M | 1.0% | -14.4% |
| SU SUNCOR ENERGY INC | Energy | 82.2K | $5.4M | 1.0% | -14.9% |
| EQX EQUINOX GOLD CORP | Materials | 375.9K | $5.4M | 1.0% | +8.8% |
| CSGP COSTAR GROUP INC | Services media | 175.1K | $5.4M | 1.0% | +93.8% |
| OTIS OTIS WORLDWIDE CORP | Industrials | 83.7K | $5.2M | 1.0% | +9.7% |
| URI UNITED RENTALS INC | Services media | 8.7K | $5.1M | 1.0% | +22.4% |
| WTW WILLIS TOWERS WATSON PLC | Financials | 22.5K | $5.1M | 1.0% | +20.2% |
| RCI ROGERS COMMUNICATIONS INC-B | Communications | 126.9K | $4.9M | 0.9% | -51.5% |
| ABT ABBOTT LABORATORIES | Healthcare | 59.3K | $4.8M | 0.9% | +53.7% |
| DIS WALT DISNEY CO/THE | Services media | 59.2K | $4.6M | 0.9% | +14.0% |
| COP CONOCOPHILLIPS | Energy | 44.1K | $4.5M | 0.9% | -12.0% |
| QSR RESTAURANT BRANDS INTERN | Consumer discretionary | 60.1K | $4.4M | 0.8% | -23.1% |
| JNJ JOHNSON & JOHNSON | Healthcare | 21.0K | $4.4M | 0.8% | -36.1% |
| TD TORONTO-DOMINION BANK | Financials | 47.3K | $4.4M | 0.8% | -2.4% |
| J JACOBS SOLUTIONS INC | Industrials | 41.9K | $4.4M | 0.8% | -11.9% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | Apr 22, 2026 | 216 | $528.8M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Jan 16, 2026 | 213 | $501.9M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Oct 9, 2025 | 208 | $458.2M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Jul 24, 2025 | 200 | $424.3M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | Apr 17, 2025 | 180 | $368.0M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Jan 29, 2025 | 169 | $381.0M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Jan 29, 2025 | 174 | $395.4M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Jan 29, 2025 | 170 | $356.9M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | Jan 29, 2025 | 165 | $359.7M | canonical | SEC ↗ |
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