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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 | |
|---|---|---|---|---|---|---|
51
Enbridge
ENB
$112B
| $174M | 0.37% |
3,852,016
+805,463
| +26% | +$36.5M |
|
52
TJX Companies
TJX
$175B
| $174M | 0.37% |
1,408,895
-1,552,527
| -52% | -$197M |
|
53
Visa
V
$675B
| $174M | 0.37% |
489,693
-550,940
| -53% | -$192M |
|
54
Abbott
ABT
$188B
| $167M | 0.36% |
1,226,331
+390,359
| +47% | +$51.5M |
|
55
Citigroup
C
$227B
| $166M | 0.35% |
1,946,621
-1,321,718
| -40% | -$95.5M |
|
56
State Street Consumer Staples Select Sector SPDR ETF
XLP
$14.7B
| $164M | 0.35% |
2,023,533
+787,503
| +64% | +$63.9M |
|
57
AutoZone
AZO
$50.1B
| $163M | 0.35% |
44,016
-6,935
| -14% | -$25.6M |
|
58
CBRE Group
CBRE
$41.7B
| $162M | 0.35% |
1,157,590
+417,328
| +56% | +$52.8M |
|
59
NRG Energy
NRG
$25B
| $161M | 0.34% |
1,001,703
-479,417
| -32% | -$63.2M |
|
60
Canadian Pacific Kansas City
CP
$79.6B
| $158M | 0.34% |
1,995,725
+534,155
| +37% | +$41.1M |
|
61
American International
AIG
$40.7B
| $157M | 0.33% |
1,832,762
+191,572
| +12% | +$16M |
|
62
Goldman Sachs
GS
$301B
| $156M | 0.33% |
220,367
-84,472
| -28% | -$48.9M |
|
63
Shopify
SHOP
$200B
| $156M | 0.33% |
1,352,564
+12,334
| +0.9% | +$1.23M |
|
64
Home Depot
HD
$350B
| $155M | 0.33% |
424,037
-140,800
| -25% | -$51M |
|
65
Gilead Sciences
GILD
$165B
| $152M | 0.32% |
1,369,433
-177,865
| -11% | -$18.9M |
|
66
Newmont
NEM
$124B
| $148M | 0.32% |
2,533,482
+122,218
| +5% | +$6.52M |
|
67
Vistra
VST
$48.2B
| $148M | 0.32% |
761,184
-17,622
| -2% | -$2.61M |
|
68
NVR
NVR
$16.8B
| $147M | 0.31% |
19,918
+2,701
| +16% | +$19.4M |
|
69
L3Harris
LHX
$54B
| $145M | 0.31% |
578,057
-206,891
| -26% | -$47.5M |
|
70
McKesson
MCK
$103B
| $143M | 0.31% |
195,318
-89,694
| -31% | -$63.3M |
|
71
S&P Global
SPGI
$121B
| $142M | 0.3% |
270,195
-75,850
| -22% | -$37.9M |
|
72
Fortinet
FTNT
$120B
| $142M | 0.3% |
1,341,067
+195,496
| +17% | +$19.7M |
|
73
United Therapeutics
UTHR
$22.7B
| $139M | 0.3% |
482,781
+5,024
| +1% | +$1.5M |
|
74
PepsiCo
PEP
$188B
| $136M | 0.29% |
1,032,103
+189,531
| +22% | +$25.5M |
|
75
Kroger
KR
$34.6B
| $135M | 0.29% |
1,884,395
+845,046
| +81% | +$58.4M |
|
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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.