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Caisse de Depot et Placement du Quebec (CDPQ)

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
-1.39%
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
$47.7B
AUM Growth
-$420M
Cap. Flow
+$1.43B
Cap. Flow %
3%
Top 10 Hldgs %
24.77%
Holding
663
New
147
Increased
250
Reduced
177
Closed
72

Top Buys

Rank Stock Value
1
VTV icon
Vanguard Morningstar Value ETF
VTV
+$846M
2
V icon
Visa
V
+$212M
3
LLY icon
Eli Lilly
LLY
+$202M
4
BCE icon
BCE
BCE
+$158M
5
LHX icon
L3Harris
LHX
+$149M

Top Sells

Rank Stock Value
1
VUG icon
Vanguard Morningstar Growth ETF
VUG
+$458M
2
XLV icon
State Street Health Care Select Sector SPDR ETF
XLV
+$423M
3
QUAL icon
iShares MSCI USA Quality Factor ETF
QUAL
+$349M
4
XLU icon
State Street Utilities Select Sector SPDR ETF
XLU
+$258M
5
VNQ icon
Vanguard Real Estate ETF
VNQ
+$228M

Sector Composition

Rank Sector Weight
1 Technology 25.73%
2 Financials 15.76%
3 Industrials 12.55%
4 Healthcare 11.74%
5 Consumer Discretionary 9.26%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
COST icon
26
Costco
COST
$423B
$382M 0.8%
403,905
+65,579
+19% +$63.9M
V icon
27
Visa
V
$675B
$365M 0.77%
1,040,633
+626,919
+152% +$212M
TJX icon
28
TJX Companies
TJX
$175B
$361M 0.76%
2,961,422
+509,957
+21% +$61.9M
WMT icon
29
Walmart Inc
WMT
$897B
$354M 0.74%
4,027,488
-1,094,050
-21% -$103M
NFLX icon
30
Netflix
NFLX
$318B
$347M 0.73%
3,724,200
+128,700
+4% +$12.2M
ABBV icon
31
AbbVie
ABBV
$438B
$336M 0.7%
1,601,680
+410,425
+34% +$79.8M
MCD icon
32
McDonald's
MCD
$194B
$316M 0.66%
1,011,111
+68,007
+7% +$20.3M
GOOG icon
33
Alphabet (Google) Class C
GOOG
$4.35T
$309M 0.65%
1,978,023
-104,831
-5% -$19.2M
T icon
34
AT&T
T
$165B
$309M 0.65%
10,917,134
+841,017
+8% +$21.1M
QCOM icon
35
Qualcomm
QCOM
$170B
$305M 0.64%
1,984,784
+160,095
+9% +$26.1M
TFII icon
36
TFI International
TFII
$11.4B
$298M 0.63%
3,850,400
+387,400
+11% +$42.9M
WFC icon
37
Wells Fargo
WFC
$265B
$258M 0.54%
3,591,437
-27,754
-0.8% -$2.08M
MDT icon
38
Medtronic
MDT
$114B
$252M 0.53%
2,799,706
+582,735
+26% +$52.1M
KO icon
39
Coca-Cola
KO
$374B
$249M 0.52%
3,472,796
+210,486
+6% +$14.1M
RY icon
40
Royal Bank of Canada
RY
$293B
$243M 0.51%
2,155,685
-283,039
-12% -$33.3M
CRM icon
41
Salesforce
CRM
$162B
$243M 0.51%
904,129
+143,265
+19% +$44.6M
MRSH
42
Marsh
MRSH
$91B
$242M 0.51%
992,436
+164,855
+20% +$37.4M
RSG icon
43
Republic Services
RSG
$65.7B
$237M 0.5%
978,135
-197,183
-17% -$44.2M
C icon
44
Citigroup
C
$227B
$232M 0.49%
3,268,339
-1,050,392
-24% -$80.1M
WCN
45
Waste Connections
WCN
$41.9B
$225M 0.47%
1,153,530
+762,468
+195% +$141M
ROP icon
46
Roper Technologies
ROP
$39.9B
$224M 0.47%
380,620
+10,104
+3% +$5.67M
ADBE icon
47
Adobe
ADBE
$109B
$219M 0.46%
572,262
+123,251
+27% +$52.9M
HON icon
48
Honeywell
HON
$77B
$217M 0.45%
1,085,649
+270,449
+33% +$54.7M
LSPD icon
49
Lightspeed Commerce
LSPD
$1.36B
$212M 0.45%
24,286,220
+1
+0% +$13
TSLA icon
50
Tesla
TSLA
$1.31T
$212M 0.45%
819,006
-120,504
-13% -$40.2M
1
2
3 4 5

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Caisse de Depot et Placement du Quebec (CDPQ)'s Q1 2025 Portfolio in Review

As of Q1 2025, Caisse de Depot et Placement du Quebec (CDPQ) held 663 positions worth $47.7B, down 0.87% from $48.1B the previous quarter. Its ten largest holdings account for 25% of the portfolio.

Caisse de Depot et Placement du Quebec (CDPQ) deployed $1.43B of net new capital in Q1 2025, opening 147 new positions and adding to 250 existing holdings. Its largest new stake was Vanguard Morningstar Value ETF: 4,853,562 shares worth $838M.

By sector, the portfolio is most concentrated in Technology at 26% of assets, down from 28% a quarter earlier, followed by Financials and Industrials.

On the sell side, the largest reduction was State Street Health Care Select Sector SPDR ETF, an estimated $423M trimmed.

  • Caisse de Depot et Placement du Quebec (CDPQ)'s largest Q1 2025 buy was Vanguard Morningstar Value ETF: 4,853,562 shares worth $838M.
  • Caisse de Depot et Placement du Quebec (CDPQ) added most to Visa in Q1 2025, an estimated $212M increase.
  • Caisse de Depot et Placement du Quebec (CDPQ)'s biggest Q1 2025 reduction was State Street Health Care Select Sector SPDR ETF, cutting an estimated $423M.
  • Caisse de Depot et Placement du Quebec (CDPQ) fully exited Vanguard Morningstar Growth ETF in Q1 2025, selling an estimated $458M.
  • Caisse de Depot et Placement du Quebec (CDPQ)'s ten largest holdings make up 25% of its $47.7B portfolio in Q1 2025.
  • Caisse de Depot et Placement du Quebec (CDPQ) opened 147 new positions and closed 72 in Q1 2025.
  • Caisse de Depot et Placement du Quebec (CDPQ)'s portfolio value fell 0.87% quarter-over-quarter to $47.7B.

Based on Caisse de Depot et Placement du Quebec (CDPQ)'s 13F filing for Q1 2025, filed 14 May 2025.