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Caisse de Depot et Placement du Quebec (CDPQ) Portfolio holdings
AUM
$62.4B
1-Year Est. Return
23.7%
This Fund
S&P 500
This Quarter
Est. Return
+7.9%
1 Year Est. Return
+23.7%
3 Year Est. Return
+77.27%
5 Year Est. Return
+92.63%
10 Year Est. Return
+273.08%
AUM
$55.5B
AUM Growth
+$8.65B
(+18%)
Cap. Flow
+$5.78B
Cap. Flow
% of AUM
10.41%
Top 10 Holdings %
Top 10 Hldgs %
28.41%
Holding
590
New
112
Increased
244
Reduced
170
Closed
51
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares Broad USD High Yield Corporate Bond ETF
USHY
|
+$283M |
| 2 |
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
|
+$273M |
| 3 |
PepsiCo
PEP
|
+$224M |
| 4 |
Microsoft
MSFT
|
+$223M |
| 5 |
iShares MSCI USA Value Factor ETF
VLUE
|
+$176M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
WCN
Waste Connections
WCN
|
+$132M |
| 2 |
United Therapeutics
UTHR
|
+$129M |
| 3 |
Visa
V
|
+$128M |
| 4 |
iShares MSCI USA Min Vol Factor ETF
USMV
|
+$122M |
| 5 |
TJX Companies
TJX
|
+$115M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 29.45% |
| 2 | Financials | 14.11% |
| 3 | Industrials | 12.44% |
| 4 | Healthcare | 10.01% |
| 5 | Communication Services | 9.63% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
351
Knight Transportation
KNX
$11.2B
| $17.1M | 0.03% |
+433,100
| New | +$18.8M |
|
352
Zscaler
ZS
$28.9B
| $16.7M | 0.03% |
+55,697
| New | +$15.9M |
|
353
Owens Corning
OC
$12.6B
| $16.6M | 0.03% |
117,387
+20,457
| +21% | +$3M |
|
354
Verisk Analytics
VRSK
$23.6B
| $16.1M | 0.03% |
64,088
-45,893
| -42% | -$12.6M |
|
355
Coherent
COHR
$64.3B
| $16M | 0.03% |
+148,079
| New | +$14.8M |
|
356
Spotify
SPOT
$103B
| $15.6M | 0.03% |
22,284
-52,515
| -70% | -$36.7M |
|
357
Valmont Industries
VMI
$9.52B
| $15.1M | 0.03% |
39,021
+16,654
| +74% | +$6.06M |
|
358
Realty Income
O
$58.6B
| $15.1M | 0.03% |
248,600
| – | – |
|
359
Toll Brothers
TOL
$14.3B
| $14.8M | 0.03% |
107,400
+84,950
| +378% | +$11.1M |
|
360
PACCAR
PCAR
$69.8B
| $14.5M | 0.03% |
+147,976
| New | +$14.6M |
|
361
XP
XP
$8.01B
| $14.5M | 0.03% |
773,968
+135,328
| +21% | +$2.43M |
|
362
Regency Centers
REG
$13.9B
| $14.5M | 0.03% |
199,000
-6,440
| -3% | -$459K |
|
363
Illumina
ILMN
$29.1B
| $14.5M | 0.03% |
+152,441
| New | +$15.1M |
|
364
Humana
HUM
$44.8B
| $14.5M | 0.03% |
55,638
-63,636
| -53% | -$16.7M |
|
365
HDFC Bank
HDB
$120B
| $14.3M | 0.03% |
+419,200
| New | +$15.5M |
|
366
Burlington
BURL
$22.6B
| $14.3M | 0.03% |
56,014
-7,143
| -11% | -$1.94M |
|
367
Reddit
RDDT
$30.1B
| $14.2M | 0.03% |
61,800
+47,305
| +326% | +$9.65M |
|
368
HubSpot
HUBS
$11B
| $13.8M | 0.02% |
29,455
+24,637
| +511% | +$12.4M |
|
369
Molson Coors Class B
TAP
$7.83B
| $13.5M | 0.02% |
298,920
-643,241
| -68% | -$31.8M |
|
370
Regions Financial
RF
$26.9B
| $13.2M | 0.02% |
+502,151
| New | +$13M |
|
|
MRSH
371
Marsh
MRSH
$91.3B
| $13.2M | 0.02% |
65,661
+20,325
| +45% | +$4.18M |
|
372
Zillow
Z
$7.68B
| $13.2M | 0.02% |
+170,799
| New | +$14M |
|
373
GE HealthCare
GEHC
$32.9B
| $13.2M | 0.02% |
175,224
-8,779
| -5% | -$655K |
|
374
EXL Service
EXLS
$5.29B
| $13.2M | 0.02% |
298,858
+90,530
| +43% | +$3.92M |
|
375
Ralph Lauren
RL
$23.7B
| $13.1M | 0.02% |
41,822
-1,706
| -4% | -$508K |
|
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Caisse de Depot et Placement du Quebec (CDPQ)'s Q3 2025 Portfolio in Review
As of Q3 2025, Caisse de Depot et Placement du Quebec (CDPQ) held 590 positions worth $55.5B, up 18% from $46.8B the previous quarter. Its ten largest holdings account for 28% of the portfolio.
Caisse de Depot et Placement du Quebec (CDPQ) deployed $5.78B of net new capital in Q3 2025, opening 112 new positions and adding to 244 existing holdings. Its largest new stake was iShares Broad USD High Yield Corporate Bond ETF: 7,557,165 shares worth $286M.
By sector, the portfolio is most concentrated in Technology at 29% of assets, down from 30% a quarter earlier, followed by Financials and Industrials.
On the sell side, the largest reduction was United Therapeutics, an estimated $129M trimmed.
- Caisse de Depot et Placement du Quebec (CDPQ)'s largest Q3 2025 buy was iShares Broad USD High Yield Corporate Bond ETF: 7,557,165 shares worth $286M.
- Caisse de Depot et Placement du Quebec (CDPQ) added most to PepsiCo in Q3 2025, an estimated $224M increase.
- Caisse de Depot et Placement du Quebec (CDPQ)'s biggest Q3 2025 reduction was United Therapeutics, cutting an estimated $129M.
- Caisse de Depot et Placement du Quebec (CDPQ) fully exited Waste Connections in Q3 2025, selling an estimated $132M.
- Caisse de Depot et Placement du Quebec (CDPQ)'s ten largest holdings make up 28% of its $55.5B portfolio in Q3 2025.
- Caisse de Depot et Placement du Quebec (CDPQ) opened 112 new positions and closed 51 in Q3 2025.
- Caisse de Depot et Placement du Quebec (CDPQ)'s portfolio value rose 18% quarter-over-quarter to $55.5B.
Based on Caisse de Depot et Placement du Quebec (CDPQ)'s 13F filing for Q3 2025, filed 14 Nov 2025.