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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
+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
Cap. Flow
+$5.78B
Cap. Flow %
10.41%
Top 10 Hldgs %
28.41%
Holding
590
New
112
Increased
244
Reduced
170
Closed
51

Top Buys

Rank Stock Value
1
USHY icon
iShares Broad USD High Yield Corporate Bond ETF
USHY
+$283M
2
LQD icon
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
+$273M
3
PEP icon
PepsiCo
PEP
+$224M
4
MSFT icon
Microsoft
MSFT
+$223M
5
VLUE icon
iShares MSCI USA Value Factor ETF
VLUE
+$176M

Top Sells

Rank Stock Value
1
WCN
Waste Connections
WCN
+$132M
2
UTHR icon
United Therapeutics
UTHR
+$129M
3
V icon
Visa
V
+$128M
4
USMV icon
iShares MSCI USA Min Vol Factor ETF
USMV
+$122M
5
TJX icon
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
SPG icon
126
Simon Property Group
SPG
$72.2B
$110M 0.2%
587,522
-6,007
-1% -$1.04M
KLAC icon
127
KLA
KLAC
$260B
$110M 0.2%
1,016,910
+642,620
+172% +$60M
SLB icon
128
SLB Ltd
SLB
$79.5B
$109M 0.2%
3,165,581
+3,135,496
+10,422% +$109M
GGG icon
129
Graco
GGG
$13.6B
$109M 0.2%
1,279,553
+899,174
+236% +$76.9M
APH icon
130
Amphenol
APH
$207B
$108M 0.2%
875,350
-258,263
-23% -$28.3M
NOC icon
131
Northrop Grumman
NOC
$81.8B
$107M 0.19%
175,417
+28,947
+20% +$16.4M
QUAL icon
132
iShares MSCI USA Quality Factor ETF
QUAL
$48B
$106M 0.19%
545,242
+204,731
+60% +$38.4M
FOXA icon
133
Fox Class A
FOXA
$26B
$106M 0.19%
1,674,429
+971,709
+138% +$56.2M
NKE icon
134
Nike
NKE
$60.8B
$105M 0.19%
1,508,064
+868,058
+136% +$64.7M
DD icon
135
DuPont de Nemours
DD
$19.5B
$105M 0.19%
1,069,415
+410,775
+62% +$38.7M
PFE icon
136
Pfizer
PFE
$152B
$104M 0.19%
4,086,989
+3,863,424
+1,728% +$95.4M
LPLA icon
137
LPL Financial
LPLA
$29.5B
$103M 0.19%
310,932
-3,753
-1% -$1.36M
ABNB icon
138
Airbnb
ABNB
$112B
$103M 0.19%
848,875
+129,638
+18% +$16.8M
PSA icon
139
Public Storage
PSA
$60.8B
$102M 0.18%
353,659
-1,328
-0.4% -$381K
SPGI icon
140
S&P Global
SPGI
$120B
$100M 0.18%
205,402
-64,793
-24% -$34.7M
FIX icon
141
Comfort Systems
FIX
$59.4B
$99.8M 0.18%
120,933
-58,091
-32% -$39.4M
ADI icon
142
Analog Devices
ADI
$188B
$99.8M 0.18%
+406,062
New +$97.6M
MCK icon
143
McKesson
MCK
$104B
$99.2M 0.18%
128,393
-66,925
-34% -$47.1M
WMB icon
144
Williams Companies
WMB
$88.4B
$99.2M 0.18%
1,565,194
-521,048
-25% -$30.6M
CPRT icon
145
Copart
CPRT
$27.4B
$99M 0.18%
2,200,902
+280,650
+15% +$13.2M
APP icon
146
Applovin
APP
$107B
$98.7M 0.18%
137,345
-17,594
-11% -$8.11M
IDXX icon
147
Idexx Laboratories
IDXX
$46.5B
$98.5M 0.18%
154,206
-26,889
-15% -$16.3M
DIS icon
148
Walt Disney
DIS
$178B
$97.5M 0.18%
851,416
+364,836
+75% +$43M
WDAY icon
149
Workday
WDAY
$44.7B
$95.2M 0.17%
395,337
+42,399
+12% +$9.8M
TSN icon
150
Tyson Foods
TSN
$19.9B
$94.8M 0.17%
1,746,120
+445,018
+34% +$24.6M
4 5
6
7 8

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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.