Canoe Financial LP
Reported holdings as of Q2 2026, from 14 quarterly filings.
This filer last reported in Q2 2026; the most recent quarter on file across all filers is Q3 2026. Firms that restructure stop filing under one CIK and start under another, so a successor entity may hold these positions now under a similar name.
Holdings
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| Security | Ticker | Value | Shares | Weight | Weight change | Held | Change |
|---|---|---|---|---|---|---|---|
| CANADIAN NATL RY CO | CNI | $406.3M | 3,407,690 | +0.23pp | 7q | -0.5%-$2.2M | |
| SLB LIMITED | SLB | $358.9M | 7,730,966 | +1.44pp | 3q | +82.3%+$162.0M | |
| TAIWAN SEMICONDUCTOR MANUFAC | TSM | $344.1M | 720,570 | +0.28pp | 10q | -16.7%-$68.9M | |
| ALPHABET INC | GOOGL | $257.7M | 721,114 | -0.17pp | 10q | -15.8%-$48.5M | |
| RESTAURANT BRANDS INTL INC | QSR | $243.1M | 3,354,908 | -0.37pp | 14q | HELD | |
| VISA INC | V | $227.6M | 663,320 | +0.01pp | 8q | -2.7%-$6.4M | |
| CVS HEALTH CORP | CVS | $227.0M | 2,193,833 | +0.69pp | 6q | +1.1%+$2.5M | |
| OTIS WORLDWIDE CORP | OTIS | $218.0M | 3,044,476 | +0.13pp | 10q | +24.2%+$42.5M | |
| EQT CORP | EQT | $215.4M | 4,020,858 | +0.07pp | 8q | +34.5%+$55.2M | |
| HALLIBURTON CO | HAL | $196.6M | 5,789,518 | +0.27pp | 2q | +42.4%+$58.5M | |
| CANADIAN PACIFIC KANSAS CITY | CP | $192.9M | 2,226,842 | +0.21pp | 13q | +9.6%+$16.8M | |
| PHILIP MORRIS INTL INC | PM | $183.8M | 1,016,158 | +0.05pp | 14q | +2.8%+$5.1M | |
| JOHNSON & JOHNSON | JNJ | $181.9M | 716,237 | -0.13pp | 14q | HELD | |
| MICROSOFT CORP | MSFT | $173.8M | 465,891 | -0.44pp | 10q | -9.2%-$17.7M | |
| ROSS STORES INC | ROST | $170.4M | 800,488 | -0.23pp | 14q | +0.8%+$1.4M | |
| MOODYS CORP | MCO | $169.0M | 373,122 | -0.24pp | 10q | -4.8%-$8.5M | |
| RB GLOBAL INC | RBA | $162.9M | 1,400,855 | +0.23pp | 12q | +2.5%+$4.0M | |
| CORTEVA INC | CTVA | $158.1M | 1,867,231 | +0.49pp | 2q | +45.3%+$49.3M | |
| INTERCONTINENTAL HOTELS GROUP | $155.5M | 902,654 | +0.03pp | 3q | -15.5%-$28.6M | ||
| THERMO FISHER SCIENTIFIC INC | TMO | $155.4M | 309,994 | +0.85pp | 6q | +92.5%+$74.7M | |
| DEERE & CO | DE | $152.2M | 239,931 | +0.51pp | 2q | +34.3%+$38.9M | |
| MASTERCARD INCORPORATED | MA | $151.5M | 295,001 | -0.19pp | 10q | -2.6%-$4.0M | |
| TEXAS INSTRS INC | TXN | $148.7M | 498,756 | +0.53pp | 3q | +0.8%+$1.2M | |
| ROYAL BK CDA | RY | $144.6M | 698,838 | +0.26pp | 14q | +0.8%+$1.1M | |
| ELEVANCE HEALTH INC FORMERLY | ELV | $140.6M | 363,504 | +0.28pp | 14q | -1.0%-$1.5M | |
| ANALOG DEVICES INC | ADI | $140.3M | 353,188 | +0.22pp | 11q | +1.1%+$1.5M | |
| NUTRIEN LTD | NTR | $134.2M | 2,132,438 | +0.30pp | 2q | +61.6%+$51.1M | |
| LOCKHEED MARTIN CORP | LMT | $133.0M | 261,015 | -0.48pp | 3q | +1.1%+$1.5M | |
| AUTOZONE INC | AZO | $131.3M | 41,081 | -0.42pp | 10q | -7.6%-$10.8M | |
| WELLS FARGO & CO | WFC | $129.6M | 1,567,786 | +0.12pp | 8q | +14.4%+$16.3M | |
| RANGE RES CORP | RRC | $123.3M | 3,313,891 | +0.12pp | 13q | +44.7%+$38.1M | |
| M & T BK CORP | MTB | $119.1M | 500,469 | +0.09pp | 10q | +1.5%+$1.7M | |
| ENERFLEX LTD | EFXT | $115.4M | 4,701,871 | +0.11pp | 14q | +1.6%+$1.8M | |
| CME GROUP INC | CME | $108.3M | 490,242 | -0.66pp | 10q | -1.2%-$1.4M | |
| DANAHER CORP DEL | DHR | $106.3M | 558,214 | - | new | NEW | |
| EMERSON ELEC CO | EMR | $104.0M | 726,462 | +0.85pp | 13q | +196.0%+$68.9M | |
| SHERWIN WILLIAMS CO | SHW | $101.5M | 294,897 | -0.14pp | 10q | -7.7%-$8.4M | |
| TECK RESOURCES LTD | TECK | $100.8M | 1,693,501 | +0.06pp | 5q | +0.8%+$759.2K | |
| INTERCONTINENTAL EXCHANGE IN | ICE | $100.7M | 817,651 | +0.26pp | 4q | +77.2%+$43.9M | |
| MSCI INC | MSCI | $100.6M | 179,551 | -0.11pp | 10q | -2.8%-$2.9M | |
| TJX COS INC NEW | TJX | $100.2M | 661,117 | -0.32pp | 8q | -8.0%-$8.7M | |
| CENOVUS ENERGY INC | CVE | $98.1M | 3,959,392 | -0.31pp | 3q | -6.0%-$6.2M | |
| CANADIAN NAT RES LTD MED TER | CNQ | $96.4M | 2,437,345 | -1.09pp | 14q | -29.0%-$39.4M | |
| CARRIER GLOBAL CORPORATION | CARR | $73.2M | 998,100 | +0.08pp | 10q | -7.6%-$6.0M | |
| WHEATON PRECIOUS METALS CORP | WPM | $67.3M | 598,860 | +0.02pp | 8q | +31.4%+$16.1M | |
| AGNICO EAGLE MINES LTD | AEM | $66.4M | 427,922 | -0.16pp | 14q | +19.9%+$11.0M | |
| METTLER TOLEDO INTERNATIONAL | MTD | $64.3M | 50,294 | -0.10pp | 10q | -3.0%-$2.0M | |
| AMAZON COM INC | AMZN | $64.2M | 269,200 | +0.54pp | 3q | +196.5%+$42.5M | |
| WEATHERFORD INTL PLC | WFRD | $55.6M | 682,100 | +0.01pp | 2q | +28.9%+$12.5M | |
| FISERV INC | FISV | $49.3M | 1,003,360 | +0.25pp | 12q | +111.0%+$25.9M | |
| TRANSOCEAN LTD | RIG | $42.5M | 8,682,600 | +0.20pp | 2q | +143.1%+$25.0M | |
| NORTHROP GRUMMAN CORP | NOC | $27.5M | 53,939 | -0.16pp | 10q | +1.1%+$298.5K | |
| HELMERICH & PAYNE INC | HP | $26.9M | 821,162 | -0.12pp | 2q | -10.7%-$3.2M | |
| EXPAND ENERGY CORPORATION | EXE | $25.2M | 254,892 | -1.34pp | 8q | -76.7%-$82.8M | |
| KLA CORP | KLAC | $22.0M | 73,000 | +0.18pp | 2q | +1515.0%+$20.7M | |
| UNITEDHEALTH GROUP INC | UNH | $21.1M | 50,838 | +0.09pp | 8q | +11.9%+$2.2M | |
| S&P GLOBAL INC | SPGI | $19.6M | 48,139 | -0.06pp | 10q | -8.4%-$1.8M | |
| BOYD GROUP SERVICES INC | BGSI | $18.0M | 190,754 | -0.21pp | 3q | -23.7%-$5.6M | |
| AON PLC | AON | $15.2M | 45,829 | -0.05pp | 10q | -17.0%-$3.1M | |
| TIDEWATER INC NEW | TDW | $14.0M | 210,456 | -0.14pp | 2q | -23.4%-$4.3M | |
| SAP SE | SAPGF | $12.8M | 83,330 | -0.10pp | 2q | -25.2%-$4.3M | |
| LOWES COS INC | LOW | $12.6M | 57,044 | +0.01pp | 11q | +28.8%+$2.8M | |
| LINDE PLC | LIN | $12.4M | 23,838 | -0.02pp | 10q | -8.4%-$1.1M | |
| ALCON AG | ALC | $12.0M | 177,528 | -0.09pp | 8q | -23.6%-$3.7M | |
| HILTON WORLDWIDE HLDGS INC | HLT | $10.7M | 32,247 | -0.02pp | 8q | -13.6%-$1.7M | |
| DIAGEO PLC | DGEAF | $9.1M | 452,530 | -0.05pp | 3q | -28.5%-$3.6M | |
| RALLIANT CORP | RAL | $9.0M | 122,728 | +0.04pp | 5q | +3.5%+$302.3K | |
| UNILEVER PLC | $8.8M | 146,048 | -0.07pp | 3q | -37.7%-$5.3M | ||
| TRANSALTA CORP | TAC | $7.6M | 550,000 | - | new | NEW | |
| PUBLIC POL HLDG CO INC | PPHC | $7.5M | 1,017,732 | -0.08pp | 2q | HELD | |
| VOLUTION GROUP PLC | $7.4M | 907,233 | flat | 3q | -1.9%-$138.7K | ||
| PEPSICO INC | PEP | $7.2M | 53,440 | -0.05pp | 10q | -18.3%-$1.6M | |
| COLGATE PALMOLIVE CO | CL | $6.7M | 73,246 | -0.01pp | 10q | -7.6%-$550.1K | |
| HDFC BANK LTD | HDB | $6.4M | 248,680 | -0.04pp | 10q | -27.5%-$2.4M | |
| GRACO INC | GGG | $5.9M | 77,471 | -0.44pp | 10q | -82.5%-$27.5M | |
| COPART INC | CPRT | $5.6M | 197,427 | -0.04pp | 7q | -18.0%-$1.2M | |
| VANECK ETF TRUST | GDXJ | $5.6M | 56,520 | -0.03pp | 7q | -1.8%-$100.8K | |
| STATE STR SPDR S&P 500 ETF T | SPY | $5.5M | 14,315 | -0.03pp | 4q | +118.4%+$3.0M | |
| SALESFORCE INC | CRM | $5.1M | 32,500 | -0.02pp | 2q | HELD | |
| VERISIGN INC | VRSN | $5.0M | 20,019 | flat | 2q | +3.6%+$174.6K | |
| CGI INC | GIB | $4.2M | 65,000 | -0.01pp | 7q | HELD | |
| ABBOTT LABORATORIES | ABT | $3.6M | 40,000 | -0.01pp | 2q | HELD | |
| FIRSTSERVICE CORP NEW | FSV | $3.4M | 24,132 | flat | 14q | -3.3%-$117.5K | |
| DESCARTES SYS GROUP INC | DSGX | $3.4M | 48,632 | -0.02pp | 7q | -25.1%-$1.1M | |
| ALAMOS GOLD INC | AGI | $3.4M | 110,826 | -0.03pp | 7q | -4.3%-$150.2K | |
| EQUIFAX INC | EFX | $3.3M | 17,812 | -0.01pp | 6q | HELD | |
| BANK OF N T BUTTERFIELD & SO | NTB | $3.1M | 51,860 | flat | 8q | -12.1%-$422.8K | |
| ISHARES TR | EFA | $3.0M | 26,620 | - | new | NEW | |
| ROPER TECHNOLOGIES INC | ROP | $3.0M | 8,891 | -0.02pp | 6q | -8.5%-$279.5K | |
| MARRIOTT INTL INC NEW | MAR | $3.0M | 7,993 | -0.42pp | 8q | -92.1%-$34.8M | |
| KINROSS GOLD CORP | KGC | $2.8M | 116,586 | -0.02pp | 7q | -15.6%-$510.9K | |
| WILLIS TOWERS WATSON PLC LTD | WTW | $2.7M | 10,225 | -0.02pp | 7q | -27.6%-$1.0M | |
| OR ROYALTIES INC. | OR | $2.5M | 79,732 | flat | 2q | +51.7%+$859.2K | |
| STANTEC INC | STN | $2.4M | 34,796 | -0.04pp | 14q | -44.9%-$2.0M | |
| ATS CORPORATION | ATS | $2.4M | 83,024 | flat | 14q | -5.0%-$126.9K | |
| AMERICAN EXPRESS CO | AXP | $2.1M | 6,282 | -0.04pp | 12q | -61.9%-$3.5M | |
| WASTE CONNECTIONS INC | WCN | $2.0M | 12,000 | flat | 8q | HELD | |
| THE CIGNA GROUP | CI | $1.6M | 5,826 | flat | 7q | -9.7%-$173.4K | |
| SYNCHRONY FINANCIAL | SYF | $1.6M | 21,094 | flat | 6q | HELD | |
| SUNBELT RENTALS HOLDINGS INC | SUNB | $1.3M | 17,178 | -0.98pp | 2q | -98.5%-$81.0M | |
| TORONTO DOMINION BK ONT | TD | $1.2M | 9,944 | flat | 6q | -7.5%-$97.5K | |
| SPDR INDEX SHS FDS | FEZ | $1.1M | 20,800 | - | new | NEW | |
| SLM CORP | SLM | $889.0K | 34,270 | - | new | NEW | |
| ALLEGION PLC | ALLE | $618.7K | 4,404 | flat | 2q | +22.4%+$113.4K | |
| ZOETIS INC | ZTS | $548.3K | 7,630 | -0.01pp | 6q | -32.9%-$268.3K | |
| COLLIERS INTL GROUP INC | CIGI | $500.6K | 5,340 | -0.01pp | 14q | -60.5%-$767.5K | |
| FORTIS INC | FTS | $366.4K | 6,402 | flat | 5q | -7.5%-$29.6K | |
| SUN LIFE FINANCIAL INC. | SLF | $359.2K | 4,579 | flat | 2q | -7.4%-$28.8K | |
| ISHARES TR | IGV | $285.0K | 750 | -0.01pp | 2q | HELD | |
| BANK MONTREAL MEDIUM | BMO | $235.9K | 1,336 | flat | 2q | -7.4%-$18.7K |
By sector
Industry comes from the SIC code on each company's own SEC filings, which is self-reported and sometimes out of date. Derivative exposure is counted with the shares. Securities the SEC assigns no industry - funds, trusts, foreign issues - are shown as not classified rather than dropped.
| Sector | Value | Share |
|---|---|---|
| Energy | $1.2B | 14.7% |
| Semiconductors & Electronics | $955.1M | 11.8% |
| Business Services | $931.4M | 11.5% |
| Retail & Consumer | $828.8M | 10.3% |
| Transport & Logistics | $613.2M | 7.6% |
| Software & IT Services | $445.0M | 5.5% |
| Banks & Lending | $408.8M | 5.1% |
| Industrials | $404.6M | 5.0% |
| Instruments & Controls | $295.8M | 3.7% |
| Biotech & Pharma | $250.3M | 3.1% |
| Mining & Metals | $243.1M | 3.0% |
| Healthcare Services | $227.0M | 2.8% |
| Other sectors | $1.1B | 13.4% |
| Not classified | $203.5M | 2.5% |
What the disclosed book did
This is not the fund's return. A 13F shows long US equity positions only, so shorts, bonds, foreign listings, private holdings and cash are all invisible here. What this measures is the quarter's change in value of the positions this manager disclosed, had they been left untouched - the return a reader following the filing would have earned.
| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +4.4% | +14.8% | -10.4% | 98% |
| Q1 2026 | +1.0% | -4.6% | +5.6% | 95% |
| Q4 2025 | +3.1% | +2.4% | +0.7% | 99% |
| Q3 2025 | +4.8% | +7.8% | -3.0% | 99% |
| Q2 2025 | +4.9% | +10.5% | -5.5% | 100% |
| Q1 2025 | -0.8% | -4.6% | +3.8% | 112% |
| Q4 2024 | +0.4% | +2.1% | -1.8% | 100% |
| Q3 2024 | +7.9% | +5.4% | +2.5% | 95% |
Market is SPY over the same two quarter ends, priced the same way as everything else here - the median across every filer reporting it. It is a large-cap US proxy, so a manager holding small caps or biotech will beat or trail it for reasons that are not skill. Prices are quarter-end to quarter-end and say nothing about the path in between, or about trades opened and closed inside a quarter.
Quarter by quarter
| Quarter | Value | Positions | New | Added | Trimmed | Exited | Top 10 | Days to file |
|---|---|---|---|---|---|---|---|---|
| Q2 2026 | $8.1B | 110 | 5 | 39 | 56 | 7 | 33.4% | 16 |
| Q1 2026 | $7.3B | 112 | 21 | 22 | 64 | 12 | 31.5% | 22 |
| Q4 2025 | $7.4B | 103 | 12 | 29 | 51 | 14 | 33.9% | 14 |
| Q3 2025 | $7.0B | 105 | 12 | 31 | 59 | 12 | 35.0% | 15 |
| Q2 2025 | $7.0B | 105 | 16 | 37 | 44 | 12 | 34.6% | 10 |
| Q1 2025 | $6.2B | 101 | 12 | 38 | 47 | 8 | 36.1% | 22 |
| Q4 2024 | $6.1B | 97 | 19 | 43 | 29 | 10 | 38.0% | 15 |
| Q3 2024 | $4.2B | 88 | 24 | 17 | 41 | 29 | 39.9% | 24 |
| Q2 2024 | $5.4B | 93 | 3 | 0 | 1 | 12 | 37.0% | 23 |
| Q1 2024 | $6.1B | 102 | 39 | 15 | 46 | 76 | 34.6% | 38 |
| Q4 2023 | $5.1B | 139 | 73 | 17 | 43 | 15 | 33.8% | 45 |
| Q3 2023 | $3.6B | 81 | 8 | 17 | 29 | 30 | 40.6% | 34 |
| Q2 2023 | $4.8B | 103 | 11 | 36 | 42 | 109 | 34.0% | 41 |
| Q1 2023 | $7.2B | 201 | 0 | 0 | 0 | 0 | 22.3% | 27 |
Rows marked UNVERIFIED ID, PLACEHOLDER ID, TICKER AS ID or NON-CUSIP ID carry an identifier that is not a valid CUSIP. They are shown because the filer reported that money, but treat the security named with caution - hover the chip for what is wrong with it, and see the methodology.
Held counts consecutive filings in which this manager reported the position, and can reach further back than the quarters listed above: the tabs begin at Q4 2018 because earlier coverage is too sparse to describe a market, but tenure is counted over every filing we hold, some reaching to 2007. A position sold and later rebought starts again from one.
Weight change is the shift in this position's share of the whole book, in percentage points. It is the more useful column: when money flows into or out of a broad fund, almost every holding is bought or sold at once, so added and trimmed largely track flows. A weight that rose while the book shrank is a decision. Both compare with the previous quarter this filer reported, not the previous calendar quarter.