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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 | |
|---|---|---|---|---|---|---|
551
Equity Lifestyle Properties
ELS
$12.4B
| – | – |
-17,994
| Closed | -$1.11M |
|
552
Eversource Energy
ES
$26.8B
| – | – |
-873,490
| Closed | -$55.6M |
|
553
iShares MSCI South Korea ETF
EWY
$25.9B
| – | – |
-235,000
| Closed | -$16.9M |
|
554
Extra Space Storage
EXR
$31B
| – | – |
-8,064
| Closed | -$1.19M |
|
555
Fluor
FLR
$7.08B
| – | – |
-260,183
| Closed | -$13.3M |
|
556
General Mills
GIS
$20.2B
| – | – |
-774,390
| Closed | -$40.1M |
|
557
Hormel Foods
HRL
$13.4B
| – | – |
-42,940
| Closed | -$1.3M |
|
558
H&R Block
HRB
$5.92B
| – | – |
-26,717
| Closed | -$1.47M |
|
559
Gartner
IT
$11.8B
| – | – |
-20,375
| Closed | -$8.24M |
|
560
iShares Core S&P 500 ETF
IVV
$902B
| – | – |
-85,000
| Closed | -$52.8M |
|
561
iShares Russell 1000 Value ETF
IWD
$84B
| – | – |
-34,599
| Closed | -$6.72M |
|
|
JNPR
562
DELISTED
Juniper Networks
JNPR
| – | – |
-851,843
| Closed | -$34M |
|
563
Coca-Cola Femsa
KOF
$23B
| – | – |
-55,900
| Closed | -$5.41M |
|
564
Leidos
LDOS
$17.7B
| – | – |
-7,863
| Closed | -$1.24M |
|
565
Lennox International
LII
$14.9B
| – | – |
-20,013
| Closed | -$11.5M |
|
566
Live Nation Entertainment
LYV
$42.7B
| – | – |
-13,495
| Closed | -$2.04M |
|
567
Mizuho Financial
MFG
$127B
| – | – |
-1,660,800
| Closed | -$9.23M |
|
568
MarketAxess Holdings
MKTX
$5.72B
| – | – |
-25,267
| Closed | -$5.64M |
|
569
3M
MMM
$94.4B
| – | – |
-70,810
| Closed | -$10.8M |
|
570
Molina Healthcare
MOH
$10.2B
| – | – |
-24,631
| Closed | -$7.34M |
|
571
Murphy USA
MUSA
$10B
| – | – |
-27,189
| Closed | -$11.1M |
|
572
NOV
NOV
$7.49B
| – | – |
-165,665
| Closed | -$2.06M |
|
573
Bank OZK
OZK
$5.66B
| – | – |
-35,100
| Closed | -$1.65M |
|
574
Paychex
PAYX
$43.1B
| – | – |
-2,571
| Closed | -$374K |
|
575
Invesco S&P 500 Equal Weight ETF
RSP
$99.4B
| – | – |
-23,669
| Closed | -$4.3M |
|
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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.