— Know what they know.
Not Investment Advice
Asset Manager ← All Institutions

Canoe Financial LP

421 7 AVENUE SW, SUITE 2750, CALGARY, A0 T2P4K9 • 4035715550

Q2 2025 · Filed 2025-07-10
Market Value
$6.7B
+9.6%
Holdings
108
+6
New Purchases
12
Added To
39
Closed
11
Reduced
45
Top 10 Concentration
36.4%
Turnover
21.3%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
IHG.L 2.30% 0.00% +2.30% $154M
COF 1.93% 0.00% +1.93% $129M
TECK 1.46% 0.00% +1.46% $98M
ORCL 1.58% 0.27% +1.32% $106M
CRM 0.86% 0.00% +0.86% $57M
ASML.AS 0.86% 0.00% +0.86% $57M
MTB 0.86% 0.00% +0.85% $57M
WFC 4.07% 3.28% +0.79% $272M
AXP 3.21% 2.42% +0.79% $214M
ADI 2.91% 2.17% +0.73% $194M
TSM 5.12% 4.44% +0.68% $342M
MSFT 4.32% 3.73% +0.59% $289M
EQT 1.32% 0.78% +0.54% $88M
RCI 0.63% 0.10% +0.54% $42M
CNQ 2.88% 2.39% +0.49% $192M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
UNH 1.92% 4.83% -2.91% $129M
DFS 0.00% 1.66% -1.66% $0
ADBE 0.19% 1.53% -1.33% $13M
PM 1.76% 2.96% -1.20% $118M
WPM 1.32% 2.26% -0.94% $88M
AEM 1.69% 2.53% -0.84% $113M
EXE 0.54% 1.30% -0.75% $36M
AZO 3.11% 3.79% -0.68% $208M
DLTR 0.00% 0.59% -0.59% $0
CTRA 0.00% 0.40% -0.40% $0
ANTM 1.92% 2.31% -0.39% $128M
VRSN 0.00% 0.38% -0.38% $0
OTIS 2.18% 2.54% -0.36% $146M
MA 2.66% 2.99% -0.32% $178M
TJX 1.78% 2.10% -0.32% $119M

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Financial Services 19.1%
Energy 18.7%
Industrials 14.5%
Consumer Cyclical 13.0%
Technology 10.7%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 17 $2.3B 34.9%
Large Cap 75 $4.1B 61.6%
Mid Cap 14 $175M 2.6%
Small Cap 1 $7M 0.1%
Micro Cap 1 $49M 0.7%

Portfolio Analytics

Avg Market Cap
$194.4B
Median Market Cap
$51.4B
Avg P/E
24.2
Median P/E
23.5
Avg Dividend Yield
0.01%
Avg Beta
0.86
# Stocks
105
# ETFs / Funds
3

Top Holdings (108 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 TSM 5.12% 1,511,573 $342M $226.49 $72M -119,239 -7.3%
2 MSFT 4.32% 580,906 $289M $497.41 $61M -25,500 -4.2%
3 CNI 4.08% 2,612,255 $272M $104.24 $36M +180,594 +7.4%
4 WFC 4.07% 3,394,260 $272M $80.12 $72M +604,930 +21.7%
5 GOOGL 3.51% 1,328,814 $234M $176.23 $13M -103,200 -7.2%
6 AXP 3.21% 672,281 $214M $318.98 $67M +122,962 +22.4%
7 MCO 3.20% 425,642 $213M $501.59 $4M -23,400 -5.2%
8 AZO 3.11% 55,911 $208M $3,712.23 -$24M -4,710 -7.8%
9 ADI 2.91% 815,582 $194M $238.02 $62M +159,086 +24.2%
10 CNQ 2.88% 6,131,602 $192M $31.36 $46M +1,393,025 +29.4%
11 MA 2.66% 316,631 $178M $561.94 -$4M -15,600 -4.7%
12 QSR 2.52% 2,539,975 $169M $66.38 $15M +232,624 +10.1%
13 CME 2.38% 576,062 $159M $275.62 -$511K -24,357 -4.1%
14 IHG.L 2.30% 1,349,305 $154M $114.03 +1,349,305 NEW
15 OTIS 2.18% 1,471,094 $146M $99.02 -$9M -32,275 -2.1%
16 V 2.06% 388,408 $138M $355.05 $4M +5,053 +1.3%
17 RY 2.05% 1,039,273 $137M $131.89 $18M -16,397 -1.6%
18 COF 1.93% 606,238 $129M $212.76 +606,238 NEW
19 UNH 1.92% 412,019 $129M $311.97 -$166M -150,740 -26.8%
20 ANTM 1.92% 329,656 $128M $388.96 -$13M +6,018 +1.9%
21 SHW 1.81% 353,157 $121M $343.36 -$2M -950 -0.3%
22 TJX 1.78% 965,017 $119M $123.49 -$9M -87,100 -8.3%
23 PM 1.76% 645,939 $118M $182.13 -$63M -489,574 -43.1%
24 AEM 1.69% 944,967 $113M $119.23 -$41M -476,127 -33.5%
25 SYY 1.67% 1,477,348 $112M $75.74 $5M +46,199 +3.2%
26 CVS 1.66% 1,612,178 $111M $68.98 $17M +223,983 +16.1%
27 MSCI 1.61% 186,331 $107M $576.74 -$2M -6,400 -3.3%
28 ORCL 1.58% 484,098 $106M $218.63 $90M +367,400 +314.8%
29 ROST 1.54% 806,734 $103M $127.58 $16M +125,740 +18.5%
30 TECK 1.46% 2,410,034 $98M $40.47 +2,410,034 NEW
31 GIB 1.42% 900,271 $95M $105.10 $4M -3,882 -0.4%
32 WPM 1.32% 980,013 $88M $90.00 -$49M -792,030 -44.7%
33 EQT 1.32% 1,510,095 $88M $58.32 $40M +597,895 +65.5%
34 RRC 1.25% 2,045,709 $83M $40.67 -$11M -359,300 -14.9%
35 BRK-B 1.21% 166,176 $81M $485.77 -$8M -828 -0.5%
36 WTW 1.08% 235,341 $72M $306.50 -$5M +7,720 +3.4%
37 MTD 1.02% 58,224 $68M $1,174.72 $7M +6,206 +11.9%
38 HCA 0.95% 164,896 $63M $383.10 $6M +773 +0.5%
39 TD 0.94% 852,173 $63M $73.61 $12M -2,594 -0.3%
40 CRM 0.86% 210,263 $57M $272.69 +210,263 NEW
41 MTB 0.86% 295,506 $57M $193.99 $57M +294,302 +24443.7%
42 ASML.AS 0.86% 71,714 $57M $798.69 +71,714 NEW
43 FI 0.78% 303,464 $52M $172.41 $16M +138,257 +83.7%
44 GGG 0.77% 600,774 $52M $85.97 -$535K -24,100 -3.9%
45 ENRFF 0.74% 6,231,212 $49M $7.90 $584K -62,896 -1.0%
46 CB 0.64% 146,885 $43M $289.72 -$2M -884 -0.6%
47 RCI 0.63% 1,421,228 $42M $29.68 $36M +1,202,579 +550.0%
48 SPGI 0.62% 79,184 $42M $527.29 -$5M -13,195 -14.3%
49 NOC 0.60% 80,595 $40M $499.98 -$1M -397 -0.5%
50 EXE 0.54% 311,100 $36M $116.94 -$43M -419,900 -57.4%
51 MAR 0.51% 124,506 $34M $273.21 $9M +19,300 +18.3%
52 EMR 0.49% 245,834 $33M $133.33 $6M -1,429 -0.6%
53 AON 0.46% 86,829 $31M $356.76 -$2M +3,150 +3.8%
54 ALC 0.45% 340,728 $30M $88.52 -$6M -41,201 -10.8%
55 ICLR 0.42% 193,851 $28M $145.45 -$3M +18,174 +10.3%
56 HDB 0.37% 326,390 $25M $76.67 -$4K -50,312 -13.4%
57 LOW 0.30% 91,024 $20M $221.87 $4M +21,900 +31.7%
58 FTV 0.26% 336,574 $18M $52.13 -$4M +48,789 +16.9%
59 HLT 0.23% 57,073 $15M $266.34 $4M +9,138 +19.1%
60 LIN 0.22% 31,538 $15M $469.18 -$1M -2,600 -7.6%
61 GPOR 0.20% 65,900 $13M $201.17 +65,900 NEW
62 PEP 0.20% 99,040 $13M $132.04 -$3M -7,400 -7.0%
63 CARR 0.20% 178,203 $13M $73.19 $1M -7,100 -3.8%
64 ADBE 0.19% 33,518 $13M $386.88 -$80M -209,407 -86.2%
65 CPRT 0.18% 251,027 $12M $49.07 $76K +34,700 +16.0%
66 JNJ 0.17% 76,126 $12M $152.75 -$3M -10,700 -12.3%
67 FDS 0.16% 24,555 $11M $447.28 -$908K -1,600 -6.1%
68 SU 0.14% 257,500 $10M $37.49 +257,500 NEW
69 STN 0.12% 73,673 $8M $108.89 $2M -2,386 -3.1%
70 NKE 0.12% 110,820 $8M $71.04 $1M +5,100 +4.8%
71 CL 0.11% 80,846 $7M $90.90 -$582K -3,800 -4.5%
72 FAN.L 0.11% 893,612 $7M $8.12 +893,612 NEW
73 DSGX 0.10% 65,438 $7M $101.66 $7K -560 -0.8%
74 AGI 0.09% 220,222 $6M $26.62 -$269K -9,190 -4.0%
75 GDXJ 0.09% 85,833 $6M $67.59 $355K -9,382 -9.8%
76 RAL 0.08% 112,190 $5M $48.49 +112,190 NEW
77 PBA 0.08% 135,000 $5M $37.58 +135,000 NEW
78 FSV 0.07% 28,086 $5M $174.63 $168K -479 -1.7%
79 CIGI 0.07% 36,279 $5M $130.94 $157K -1,674 -4.4%
80 ROP 0.07% 7,704 $4M $566.84 $4M +6,830 +781.5%
81 TMO 0.05% 9,000 $4M $405.46 -$332K +1,000 +12.5%
82 RGLD 0.04% 15,664 $3M $177.84 $91K -818 -5.0%
83 SYF 0.04% 36,319 $2M $66.74 $2M +31,431 +643.0%
84 WCN 0.03% 12,000 $2M $186.94 -$96K
85 NTB 0.03% 50,275 $2M $44.28 $2M +37,359 +289.2%
86 KGC 0.03% 134,406 $2M $15.64 $412K +321 +0.2%
87 ZTS 0.03% 13,369 $2M $155.95 $2M +11,975 +859.0%
88 EFX 0.03% 7,917 $2M $259.37 $2M +6,439 +435.7%
89 TFII 0.03% 21,099 $2M $89.83 -$959K -15,758 -42.8%
90 REXR 0.02% 34,505 $1M $35.57 +34,505 NEW
91 CI 0.02% 3,549 $1M $330.58 $816K +2,463 +226.8%
92 FERG 0.02% 4,938 $1M $217.75 $747K +2,889 +141.0%
93 HII 0.01% 3,433 $829K $241.46 $620K +2,408 +234.9%
94 ERO 0.01% 33,756 $571K $16.90 $187K +2,100 +6.6%
95 ABNB 0.01% 3,627 $480K $132.34 $386K +2,837 +359.1%
96 FNV 0.01% 2,858 $470K $164.30 -$187K -1,319 -31.6%
97 FTS 0.01% 7,863 $376K $47.78 +7,863 NEW
98 VRSN —% -$23M -92,261 -100.0% SOLD
99 DEO —% -$5M -45,000 -100.0% SOLD
100 DLTR —% -$36M -475,221 -100.0% SOLD

New Positions

SymbolValue% Port
IHG.L $154M 2.30%
COF $129M 1.93%
TECK $98M 1.46%
CRM $57M 0.86%
ASML.AS $57M 0.86%
GPOR $13M 0.20%
SU $10M 0.14%
FAN.L $7M 0.11%
RAL $5M 0.08%
PBA $5M 0.08%
REXR $1M 0.02%
FTS $376K 0.01%

Sold Out Positions

SymbolValue% Port
BDX —%
CVE —%
LBRT —%
HUM —%
DEO —%
DLTR —%
SMH —%
SPY —%
VRSN —%
CTRA —%
DFS —%
View SEC EDGAR Filings for Canoe Financial LP →

Sign in to InsiderStreet

You'll also get our free weekly newsletter with
smart money signals, market insights, and alpha ideas.
Unsubscribe anytime.

For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms