Instuitional Investor - Louisbourg Investments Inc.

13F Holdings

Filing Period:

No.	Security	Ticker	Shares	Value	% Port
1.	Canadian National Railway Co	CNI	289,119	$28,163,762	7.65%
2.	Ishares Trust	IEF	19,320	$10,855,908	2.95%
3.	Shopify Inc.	SHOP	109,727	$10,449,100	2.84%
4.	Microsoft Corp	MSFT	31,220	$9,308,864	2.53%
5.	Bank Of Nova Scotia	BNS	181,753	$8,626,188	2.34%