Canoe L.P. 13F annual report

Canoe L.P. is an investment fund managing more than $5.4 trillion ran by Albert Luong. There are currently 93 companies in Mr. Luong’s portfolio. The largest investments include Microsoft and Diageo plc, together worth $513 billion.

Limited to 30 biggest holdings

$5.4 trillion Assets Under Management (AUM)

As of 16th July 2024, Canoe L.P.’s top holding is 621,147 shares of Microsoft currently worth over $261 billion and making up 4.8% of the portfolio value. Relative to the number of outstanding shares of Microsoft, Canoe L.P. owns more than approximately 0.1% of the company. In addition, the fund holds 6,802,658 shares of Diageo plc worth $251 billion, whose value fell 7.2% in the past six months. The third-largest holding is Taiwan Semiconductor Manufactu worth $233 billion and the next is American Express Co worth $200 billion, with 879,800 shares owned.

Currently, Canoe L.P.'s portfolio is worth at least $5.4 trillion. The total portfolio value may be much higher due to cash assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents.

Careers at Canoe L.P.

The Canoe L.P. office and employees reside in Calgary, Alberta, Canada. According to the last 13-F report filed with the SEC, Albert Luong serves as the Senior Legal Counsel at Canoe L.P..

Recent trades

In the most recent 13F filing, Canoe L.P. revealed that it had opened a new position in Patterson-UTI Inc and bought 9,500 shares worth $736 million.

On the other hand, there are companies that Canoe L.P. is getting rid of from its portfolio. Canoe L.P. closed its position in Unitedhealth Inc on 23rd July 2024. It sold the previously owned 509,098 shares for $252 billion. Albert Luong also disclosed a decreased stake in Cenovus Inc by approximately 0.1%. This leaves the value of the investment at $77.9 billion and 3,894,700 shares.

One of the largest hedge funds

The two most similar investment funds to Canoe L.P. are Provident Trust Co and Ctc. They manage $5.38 trillion and $5.38 trillion respectively.


Albert Luong investment strategy

Canoe L.P.’s portfolio is diversified across 12 sectors. Currently, their heaviest sector is Finance — making up 17.7% of the total portfolio value. The fund focuses on investments in the United States as 37.6% of the portfolio companies are based in the United States.

The majority of the companies in the fund’s portfolio are large-cap stocks. Stocks with a size of more than $10 billion in market cap make up 55% of the total holdings value. On the other hand, small-cap stocks make up only 2.2% of the portfolio. The average market cap of the portfolio companies is close to $115 billion.

The complete list of Canoe L.P. trades based on 13F SEC filings

These positions were updated on July 23rd based on the fund’s latest 13F filing. Quickly find out what the most recently closed or increased positions are.

Security Shares Owned Value Allocation
Microsoft Corporation
No change
621,147
$261,328,966,000 4.84%
Unitedhealth Group Inc
Closed
509,098
$251,850,781,000
Diageo plc
No change
6,802,658
$251,232,446,000 4.66%
Taiwan Semiconductor Manufactu
No change
1,709,737
$232,609,719,000 4.31%
American Express Co.
No change
879,800
$200,321,662,000 3.71%
Alphabet Inc
No change
1,314,715
$198,429,935,000 3.68%
Autozone Inc.
No change
58,296
$183,728,588,000 3.40%
Mastercard Incorporated
No change
363,596
$175,096,926,000 3.24%
Elevance Health Inc
No change
332,700
$172,518,258,000 3.20%
Wells Fargo Co
Closed
2,946,348
$170,770,330,000
Moody's Corp
No change
428,692
$168,488,817,000 3.12%
Lowe's Cos Inc
No change
602,230
$153,406,048,000 2.84%
Restaurant Brands International Inc
No change
1,889,014
$150,064,113,000 2.78%
Royal Bank Of Canada
No change
1,291,012
$130,255,197,000 2.41%
Intercontinental Hotels Group
No change
1,217,045
$126,629,891,000 2.35%
Agnico Eagle Mines Limited
No change
2,098,161
$125,152,461,000 2.32%
Philip Morris International In
No change
1,281,243
$117,387,484,000 2.18%
Tjx Cos Inc/the
Closed
1,094,226
$110,976,401,000
Sherwin-williams Co/the
No change
319,018
$110,804,522,000 2.05%
CVS Health Corp
No change
1,369,374
$109,221,270,000 2.02%
General Electric Co
No change
599,693
$105,264,112,000 1.95%
Otis Worldwide Corporation
No change
1,018,485
$101,105,006,000 1.87%
CME Group Inc
No change
457,381
$98,469,555,000 1.82%
RB Global Inc
No change
1,163,182
$88,624,052,000 1.64%
Emerson Electric Co.
No change
759,828
$86,179,692,000 1.60%
Wheaton Precious Metals Corp
Closed
1,815,369
$85,533,470,000
Johnson Johnson
No change
532,714
$84,270,028,000 1.56%
Starbucks Corp.
No change
919,876
$84,067,468,000 1.56%
Discover Financial Services
No change
637,241
$83,535,923,000 1.55%
MSCI Inc
No change
142,757
$80,008,161,000 1.48%
Ross Stores, Inc.
No change
538,749
$79,066,803,000 1.47%
Cenovus Energy Inc
0.17%
3,894,700
$77,888,470,000 1.44%
Analog Devices Inc.
No change
393,503
$77,830,958,000 1.44%
Mettler-toledo International I
No change
56,644
$75,409,591,000 1.40%
Barrick Gold Corp.
No change
4,509,830
$75,036,378,000 1.39%
Berkshire Hathaway Inc.
No change
176,173
$74,084,270,000 1.37%
Fedex Corp
No change
246,224
$71,340,942,000 1.32%
Liberty Energy Inc
No change
3,425,195
$70,970,040,000 1.32%
Magna International Inc.
No change
1,257,326
$68,516,616,000 1.27%
Mt Bank Corp
No change
454,554
$66,110,334,000 1.23%
Northrop Grumman Corp.
No change
135,423
$64,821,573,000 1.20%
Canadian Pacific Kansas City Ltd
No change
695,312
$61,325,861,000 1.14%
Graco Inc.
No change
642,152
$60,015,526,000 1.11%
Enerflex Ltd
No change
7,854,175
$45,706,429,000 0.85%
Range Resources Corp
No change
1,238,109
$42,628,093,000 0.79%
Fifth Third Bancorp
No change
1,106,670
$41,179,191,000 0.76%
Rogers Communications Inc.
No change
990,863
$40,612,254,000 0.75%
Chubb Ltd
No change
156,424
$40,534,151,000 0.75%
Fiserv, Inc.
No change
253,011
$40,436,218,000 0.75%
Union Pacific Corp.
Closed
162,385
$39,935,343,000
ASML Holding NV
No change
38,011
$36,589,183,000 0.68%
Canadian Natural Resources Ltd.
No change
475,411
$36,278,235,000 0.67%
Franco-Nevada Corporation
No change
262,130
$31,244,297,000 0.58%
Sap SE
No change
156,355
$30,442,052,000 0.56%
Fortive Corp
No change
348,340
$29,964,207,000 0.56%
Sun Life Financial, Inc.
No change
535,487
$29,228,238,000 0.54%
Sp Global Inc
No change
66,784
$28,413,253,000 0.53%
Schlumberger Ltd.
No change
442,800
$24,269,868,000 0.45%
Ats Corp
No change
686,879
$23,120,917,000 0.43%
Linde Plc.
No change
40,836
$18,960,972,000 0.35%
Pepsico Inc
No change
98,467
$17,232,710,000 0.32%
Aon plc.
No change
51,509
$17,189,583,000 0.32%
Spdr Sp Oil Gas Equipment Services Etf
No change
182,500
$16,988,925,000 0.31%
Cameco Corp.
No change
362,458
$15,696,476,000 0.29%
HDFC Bank Ltd.
No change
279,398
$15,637,906,000 0.29%
Oracle Corp.
No change
124,409
$15,627,014,000 0.29%
Adobe Inc
No change
23,206
$11,709,748,000 0.22%
Carrier Global Corporation
No change
201,350
$11,704,476,000 0.22%
Factset Research Systems Inc.
No change
23,944
$10,879,914,000 0.20%
Middleby Corp/the
No change
67,039
$10,779,201,000 0.20%
Becton, Dickinson and Company
No change
42,778
$10,585,416,000 0.20%
Nike, Inc.
No change
90,415
$8,497,202,000 0.16%
Centene Corp.
No change
102,466
$8,041,532,000 0.15%
Stantec Inc
No change
95,381
$7,921,555,000 0.15%
Colgate-Palmolive Co.
No change
82,042
$7,387,882,000 0.14%
Canadian National Railway Co.
No change
55,379
$7,294,085,000 0.14%
First Solar Inc
No change
40,300
$6,802,640,000 0.13%
Enphase Energy Inc
No change
56,100
$6,786,978,000 0.13%
Spdr Sp 500 Etf Trust
13.24%
13,395
$6,593,340,000 0.12%
Descartes Sys Group Inc
No change
66,838
$6,115,687,000 0.11%
Colliers Intl Group Inc
No change
43,577
$5,328,310,000 0.10%
FirstService Corp
No change
30,045
$4,975,711,000 0.09%
Kenvue Inc
No change
187,444
$4,022,548,000 0.07%
Granite Reit
No change
69,735
$3,981,411,000 0.07%
TFI International Inc
Closed
22,119
$3,528,334,000
Toronto Dominion Bank
Closed
57,571
$3,475,698,000
Vaneck Junior Gold Miners
Closed
81,945
$3,174,549,000
Alamos Gold Inc.
No change
196,855
$2,903,187,000 0.05%
Royal Gold, Inc.
No change
21,004
$2,558,497,000 0.05%
Waste Connections Inc
Closed
13,500
$2,321,656,000
Nutrien Ltd
No change
36,500
$1,983,401,000 0.04%
Volution Group Plc
Closed
360,500
$1,977,844,000
Open Text Corp
No change
49,415
$1,918,071,000 0.04%
Brookfield Corporation
No change
38,145
$1,596,680,000 0.03%
TC Energy Corporation
No change
39,360
$1,582,427,000 0.03%
Enbridge Inc
No change
41,447
$1,498,291,000 0.03%
Suncor Energy, Inc.
No change
40,211
$1,484,494,000 0.03%
Vaneck Gold Miners Etf
Closed
43,715
$1,382,268,000
Halliburton Co.
Closed
3,000
$982,500,000
Patterson-UTI Energy Inc
Opened
9,500
$736,250,000 0.01%
Ero Copper Corp
No change
36,933
$712,424,000 0.01%
Kinross Gold Corp.
No change
98,517
$604,592,000 0.01%
Fortis Inc.
No change
12,968
$512,554,000 0.01%
Vaneck Oil Services Etf
Opened
1,410
$310,200,000 0.01%
Tourmaline Oil Corp
Opened
9,300
$30,592,000 0.00%
No transactions found
Showing first 500 out of 105 holdings