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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 | |
|---|---|---|---|---|---|---|
576
Rayonier
RYN
$6.46B
| – | – |
-111,691
| Closed | -$2.36M |
|
|
SAND
577
DELISTED
Sandstorm Gold
SAND
| – | – |
-4,565,100
| Closed | -$42.9M |
|
578
Starbucks
SBUX
$121B
| – | – |
-121,696
| Closed | -$11.2M |
|
579
Trimble
TRMB
$13.4B
| – | – |
-240,200
| Closed | -$18.3M |
|
580
Trade Desk
TTD
$6.28B
| – | – |
-52,981
| Closed | -$3.81M |
|
|
581
iShares MSCI USA Min Vol Factor ETF
USMV
$24.4B
| – | – |
-1,304,692
| Closed | -$122M |
|
582
VTEX
VTEX
$670M
| – | – |
-10,420
| Closed | -$68.8K |
|
583
Ventas
VTR
$45.1B
| – | – |
-53,100
| Closed | -$3.35M |
|
584
Warner Bros
WBD
$68B
| – | – |
-687,636
| Closed | -$7.88M |
|
|
WCN
585
Waste Connections
WCN
$42.1B
| – | – |
-708,951
| Closed | -$132M |
|
586
Waste Management
WM
$91.2B
| – | – |
-17,411
| Closed | -$3.98M |
|
587
State Street Consumer Discretionary Select Sector SPDR ETF
XLY
$23.7B
| – | – |
-80,420
| Closed | -$8.74M |
|
588
Astera Labs
ALAB
$53.7B
| – | – |
-77,100
| Closed | -$6.97M |
|
|
SARO
589
StandardAero Inc
SARO
$9.38B
| – | – |
-114,525
| Closed | -$3.62M |
|
|
SAIL
590
SailPoint Inc
SAIL
$10.6B
| – | – |
-137,120
| Closed | -$3.13M |
|
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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.