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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
+11.94%
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
$46.8B
AUM Growth
-$826M
(-1.7%)
Cap. Flow
-$4.77B
Cap. Flow
% of AUM
-10.19%
Top 10 Holdings %
Top 10 Hldgs %
30.11%
Holding
642
New
51
Increased
190
Reduced
227
Closed
164
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street Health Care Select Sector SPDR ETF
XLV
|
+$451M |
| 2 |
Brown & Brown
BRO
|
+$270M |
| 3 |
NVIDIA
NVDA
|
+$230M |
| 4 |
Apple
AAPL
|
+$178M |
| 5 |
BCE
BCE
|
+$128M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Vanguard Morningstar Value ETF
VTV
|
+$838M |
| 2 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$394M |
| 3 |
Invesco S&P 500 Equal Weight ETF
RSP
|
+$393M |
| 4 |
JPMorgan Chase
JPM
|
+$226M |
| 5 |
MRSH
Marsh
MRSH
|
+$214M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 30.2% |
| 2 | Financials | 15.15% |
| 3 | Industrials | 13.25% |
| 4 | Healthcare | 9.63% |
| 5 | Communication Services | 9.22% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Booking.com
BKNG
$158B
| $292M | 0.62% |
1,258,975
+235,975
| +23% | +$48.3M |
|
27
Alphabet (Google) Class C
GOOG
$4.32T
| $290M | 0.62% |
1,632,971
-345,052
| -17% | -$57M |
|
28
Lightspeed Commerce
LSPD
$1.35B
| $284M | 0.61% |
24,286,219
-1
| -0% | -$10 |
|
29
AT&T
T
$161B
| $282M | 0.6% |
9,736,454
-1,180,680
| -11% | -$32.5M |
|
30
Cencora
COR
$61.6B
| $275M | 0.59% |
918,469
+175,397
| +24% | +$50.5M |
|
|
31
Brown & Brown
BRO
$23.5B
| $270M | 0.58% |
2,438,354
+2,402,353
| +6,673% | +$270M |
|
32
Duke Energy
DUK
$94.9B
| $259M | 0.55% |
2,193,603
+527,800
| +32% | +$62.3M |
|
33
Royal Bank of Canada
RY
$294B
| $255M | 0.54% |
1,938,915
-216,770
| -10% | -$26.5M |
|
34
Wells Fargo
WFC
$264B
| $243M | 0.52% |
3,036,380
-555,057
| -15% | -$40M |
|
35
GE Aerospace
GE
$383B
| $240M | 0.51% |
931,569
+207,212
| +29% | +$45.5M |
|
36
Salesforce
CRM
$159B
| $234M | 0.5% |
857,028
-47,101
| -5% | -$12.6M |
|
37
Adobe
ADBE
$106B
| $232M | 0.49% |
598,496
+26,234
| +5% | +$10.1M |
|
38
Tesla
TSLA
$1.3T
| $231M | 0.49% |
725,976
-93,030
| -11% | -$28M |
|
39
AbbVie
ABBV
$434B
| $229M | 0.49% |
1,233,125
-368,555
| -23% | -$68.5M |
|
40
Pultegroup
PHM
$24.4B
| $224M | 0.48% |
2,127,561
+755,972
| +55% | +$76.2M |
|
41
Republic Services
RSG
$65.5B
| $219M | 0.47% |
889,661
-88,474
| -9% | -$21.9M |
|
42
Bank of America
BAC
$446B
| $218M | 0.47% |
4,613,856
+396,785
| +9% | +$16.7M |
|
43
UnitedHealth
UNH
$373B
| $202M | 0.43% |
647,970
-352,137
| -35% | -$135M |
|
44
Walmart Inc
WMT
$884B
| $201M | 0.43% |
2,051,819
-1,975,669
| -49% | -$188M |
|
45
Roper Technologies
ROP
$39.6B
| $200M | 0.43% |
352,168
-28,452
| -7% | -$16.1M |
|
46
Emcor
EME
$36.3B
| $180M | 0.38% |
336,084
-987
| -0.3% | -$436K |
|
47
Cintas
CTAS
$80.6B
| $179M | 0.38% |
801,260
-109,725
| -12% | -$23.6M |
|
48
Uber
UBER
$158B
| $177M | 0.38% |
1,898,584
-199,130
| -9% | -$16.4M |
|
49
Arista Networks
ANET
$245B
| $177M | 0.38% |
1,731,031
+158,678
| +10% | +$13.7M |
|
50
Intuitive Surgical
ISRG
$135B
| $175M | 0.37% |
322,539
-46,750
| -13% | -$24.4M |
|
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Caisse de Depot et Placement du Quebec (CDPQ)'s Q2 2025 Portfolio in Review
As of Q2 2025, Caisse de Depot et Placement du Quebec (CDPQ) held 642 positions worth $46.8B, down 1.7% from $47.7B the previous quarter. Its ten largest holdings account for 30% of the portfolio.
Caisse de Depot et Placement du Quebec (CDPQ) withdrew a net $4.77B in Q2 2025, closing 164 positions and reducing 227 holdings. Its most notable exit was Vanguard Morningstar Value ETF, an estimated $838M position sold in full.
By sector, the portfolio is most concentrated in Technology at 30% of assets, up from 26% a quarter earlier, followed by Financials and Industrials.
Against the trend, Caisse de Depot et Placement du Quebec (CDPQ) opened a new position in Jones Lang LaSalle worth $92.9M.
- Caisse de Depot et Placement du Quebec (CDPQ)'s largest Q2 2025 buy was Jones Lang LaSalle: 363,100 shares worth $92.9M.
- Caisse de Depot et Placement du Quebec (CDPQ) added most to State Street Health Care Select Sector SPDR ETF in Q2 2025, an estimated $451M increase.
- Caisse de Depot et Placement du Quebec (CDPQ)'s biggest Q2 2025 reduction was Invesco S&P 500 Equal Weight ETF, cutting an estimated $393M.
- Caisse de Depot et Placement du Quebec (CDPQ) fully exited Vanguard Morningstar Value ETF in Q2 2025, selling an estimated $838M.
- Caisse de Depot et Placement du Quebec (CDPQ)'s ten largest holdings make up 30% of its $46.8B portfolio in Q2 2025.
- Caisse de Depot et Placement du Quebec (CDPQ) opened 51 new positions and closed 164 in Q2 2025.
- Caisse de Depot et Placement du Quebec (CDPQ)'s portfolio value fell 1.7% quarter-over-quarter to $46.8B.
Based on Caisse de Depot et Placement du Quebec (CDPQ)'s 13F filing for Q2 2025, filed 14 Aug 2025.