Caisse de depot et placement du Quebec
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 14, 2025), Caisse de depot et placement du Quebec reported 591 stock positions worth $47.7 billion. Its top holding was Apple (AAPL) at 3.8% of the portfolio, followed by Cgi (GIB, 3.4%) and Microsoft (MSFT, 3.4%). Compared with Q4 2024, it opened 147 new positions, sold out of 72, added to 250 and reduced 177. The biggest buy was a new position in Vanguard Mrngstr Val ETF-Aui (VTV) and the biggest sale an exit from Vanguard Mrngstar GR ETF-Sui (VUG).
- Most Recent 13F
- Q2 2026
- Location
- Montreal, A8
- CIK
- 0000898286
- Portfolio Value
- $47.7B (Q1 2025)
- SEC Filing
- 0001140361-25-018990 ↗ filed May 14, 2025
Holdings Value
Holdings 591 stocks · $47.7B
| AAPL Apple Inc. | 3.78% | 8,107,870 | $1.8B | Add +3.0% |
| GIB Cgi Inc. | 3.41% | 16,290,487 | $1.6B | No change |
| MSFT Microsoft Corp. | 3.39% | 4,304,321 | $1.6B | Reduce -5.0% |
| NVDA Nvidia Corp. | 2.77% | 12,196,432 | $1.3B | Reduce -8.0% |
| CNI Canadian Natl Railway Co. | 2.55% | 12,496,600 | $1.2B | No change |
| META Meta Platforms Inc. Class A | 2.01% | 1,659,619 | $956.5M | Add +7.7% |
| AMZN Amazon.com Inc. | 1.85% | 4,646,656 | $884.1M | Reduce -3.2% |
| VTV Vanguard Mrngstr Val ETF-Aui | 1.76% | 4,853,562 | $838.4M | New |
| GOOGL Alphabet Inc. Class A | 1.65% | 5,092,826 | $787.6M | Add +1.0% |
| CAE Cae Inc. | 1.59% | 30,917,402 | $760.0M | No change |
| BRK.B Berkshire Hathaway Inc. Class B | 1.54% | 1,374,949 | $732.3M | Reduce -3.6% |
| MA Mastercard Inc. Class A | 1.42% | 1,231,135 | $674.8M | Add +1.0% |
| JPM JPMorgan Chase & Co. | 1.36% | 2,650,344 | $650.1M | Add +26.5% |
| LLY Eli Lilly & Co. | 1.33% | 765,030 | $631.8M | Add +46.4% |
| JNJ Johnson & Johnson | 1.25% | 3,601,147 | $597.2M | Add +22.6% |
| BCE Bce Inc. | 1.22% | 25,249,300 | $579.5M | Add +36.1% |
| UNH Unitedhealth Group Inc. | 1.10% | 1,000,107 | $523.8M | Add +5.9% |
| BMO Bank of Montreal filed as BANK MONTREAL QUE | 1.09% | 5,419,567 | $517.5M | No change |
| PGR Progressive Corp. | 0.94% | 1,582,012 | $447.7M | Add +1.8% |
| PG The Procter & Gamble Co. | 0.93% | 2,611,294 | $445.0M | Reduce -7.8% |
| AVGO Broadcom Inc. | 0.93% | 2,637,419 | $441.6M | Add +24.7% |
| CSCO Cisco Systems Inc. | 0.89% | 6,876,595 | $424.4M | Reduce -8.1% |
| RSP Invesco S&P 500 Equal Weight | 0.84% | 2,302,200 | $398.8M | Reduce -35.0% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.83% | 703,600 | $393.6M | Add +15.7% |
| MRK Merck & Co. Inc. | 0.81% | 4,315,410 | $387.4M | Add +3.6% |
| COST Costco Wholesale Corp. | 0.80% | 403,905 | $382.0M | Add +19.4% |
| V Visa Inc. Class A | 0.77% | 1,040,633 | $364.7M | Add +151.5% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.76% | 2,961,422 | $360.7M | Add +20.8% |
| WMT Walmart Inc. | 0.74% | 4,027,488 | $353.6M | Reduce -21.4% |
| NFLX Netflix Inc. | 0.73% | 372,420 | $347.3M | Add +3.6% |
| ABBV Abbvie Inc. | 0.70% | 1,601,680 | $335.6M | Add +34.5% |
| MCD McDonald's Corp. | 0.66% | 1,011,111 | $315.8M | Add +7.2% |
| GOOG Alphabet Inc. Class C | 0.65% | 1,978,023 | $309.0M | Reduce -5.0% |
| T AT&T Inc. | 0.65% | 10,917,134 | $308.7M | Add +8.3% |
| QCOM Qualcomm Inc. | 0.64% | 1,984,784 | $304.9M | Add +8.8% |
| TFII Tfi International Inc. | 0.63% | 3,850,400 | $298.1M | Add +11.2% |
| WFC Wells Fargo & Co. | 0.54% | 3,591,437 | $257.8M | Reduce -0.8% |
| MDT Medtronic PLC | 0.53% | 2,799,706 | $251.6M | Add +26.3% |
| KO The Coca-Cola Co. | 0.52% | 3,472,796 | $248.7M | Add +6.5% |
| RY Royal Bank of Canada | 0.51% | 2,155,685 | $242.8M | Reduce -11.6% |
| CRM Salesforce Inc. | 0.51% | 904,129 | $242.6M | Add +18.8% |
| MRSH Marsh & McLennan Cos | 0.51% | 992,436 | $242.2M | Add +19.9% |
| RSG Republic Services Inc. | 0.50% | 978,135 | $236.9M | Reduce -16.8% |
| C Citigroup Inc. | 0.49% | 3,268,339 | $232.0M | Reduce -24.3% |
| WCN Waste Connections Inc. | 0.47% | 1,153,530 | $225.0M | Add +195.0% |
| ROP Roper Technologies Inc. | 0.47% | 380,620 | $224.4M | Add +2.7% |
| ADBE Adobe Inc. | 0.46% | 572,262 | $219.5M | Add +27.4% |
| HON Honeywell International Inc. | 0.45% | 1,023,232 | $216.7M | Add +33.2% |
| LSPD Lightspeed Commerce Inc. | 0.45% | 24,286,220 | $212.4M | Add +0.0% |
| TSLA Tesla Inc. | 0.45% | 819,006 | $212.3M | Reduce -12.8% |
| BSX Boston Scientific Corp. | 0.44% | 2,056,096 | $207.4M | Add +12.2% |
| HD Home Depot Inc. | 0.43% | 564,837 | $207.0M | Add +11.4% |
| COR Cencora Inc. | 0.43% | 743,072 | $206.6M | Add +144.4% |
| DUK Duke Energy Corp. | 0.43% | 1,665,803 | $203.2M | Add +18.9% |
| ACN Accenture PLC Class A | 0.42% | 645,636 | $201.5M | Add +25.1% |
| VZ Verizon Communications Inc. | 0.42% | 4,438,809 | $201.3M | Reduce -14.9% |
| AZO AutoZone Inc. | 0.41% | 50,951 | $194.3M | Add +12.9% |
| MCK McKesson Corp. | 0.40% | 285,012 | $191.8M | Reduce -46.5% |
| BKNG Booking Holdings Inc. | 0.40% | 40,920 | $188.5M | Add +29.0% |
| AEE Ameren Corporation | 0.39% | 1,871,375 | $187.9M | Reduce -5.7% |
| CTAS Cintas Corp. | 0.39% | 910,985 | $187.2M | Add +169.7% |
| TXN Texas Instruments Inc. | 0.39% | 1,022,446 | $183.7M | Add +217.8% |
| ISRG Intuitive Surgical Inc. | 0.38% | 369,289 | $182.9M | Add +9.8% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.37% | 4,217,071 | $176.0M | Reduce -18.0% |
| SPGI S&P Global Inc. | 0.37% | 346,045 | $175.8M | Add +7.9% |
| GILD Gilead Sciences Inc. | 0.36% | 1,547,298 | $173.4M | Add +50.8% |
| ICE Intercontinental Exchange Inc. | 0.35% | 976,048 | $168.4M | Reduce -15.1% |
| GS Goldman Sachs Group Inc. | 0.35% | 304,839 | $166.5M | Add +31.1% |
| LHX L3HARRIS Technologies Inc. | 0.34% | 784,948 | $164.3M | Add +946.6% |
| DECK Deckers Outdoor Corp. | 0.33% | 1,410,262 | $157.7M | Add +46.5% |
| CMG Chipotle Mexican Grill Inc. | 0.32% | 3,060,404 | $153.7M | Add +151.3% |
| UBER Uber Technologies Inc. | 0.32% | 2,097,714 | $152.8M | Reduce -2.8% |
| WTW Willis Towers Watson PLC | 0.32% | 446,734 | $151.0M | Reduce -15.1% |
| UTHR United Therapeutics Corp. | 0.31% | 477,757 | $147.3M | Add +22.5% |
| GE General Electric filed as GE AEROSPACE | 0.30% | 724,357 | $145.0M | Add +16.9% |
| AIG American International Group | 0.30% | 1,641,190 | $142.7M | Add +15.0% |
| NRG NRG Energy Inc. | 0.30% | 1,481,120 | $141.4M | Add +33.6% |
| REGN Regeneron Pharmaceuticals | 0.30% | 222,614 | $141.2M | Reduce -28.2% |
| PHM Pultegroup Inc. | 0.30% | 1,371,589 | $141.0M | Add +10.8% |
| CB Chubb Ltd. | 0.30% | 466,740 | $141.0M | Reduce -13.3% |
| WEC WEC Energy Group Inc. | 0.29% | 1,267,856 | $138.2M | Reduce -25.2% |
| DHR Danaher Corp. | 0.29% | 670,926 | $137.5M | Add +34.6% |
| ENB Enbridge Inc. | 0.28% | 3,046,553 | $134.8M | Reduce -21.6% |
| MELI MercadoLibre Inc. | 0.28% | 67,410 | $131.5M | Add +7.3% |
| TDY Teledyne Technologies Inc. | 0.27% | 262,618 | $130.7M | Reduce -10.7% |
| USMV iShares MSCI USA Min Vol Fac | 0.27% | 1,395,133 | $130.7M | New |
| LIN Linde PLC | 0.27% | 277,288 | $129.1M | Add +35.7% |
| SHOP Shopify Inc. Class A | 0.27% | 1,340,230 | $127.5M | Reduce -16.6% |
| PEP Pepsico Inc. | 0.27% | 842,572 | $126.3M | Add +28.3% |
| MSI Motorola Solutions Inc. | 0.26% | 287,441 | $125.8M | Add +21.1% |
| NVR NVR Inc. | 0.26% | 17,217 | $124.7M | Add +10.3% |
| EME Emcor Group Inc. | 0.26% | 337,071 | $124.6M | Add +16.5% |
| CAT Caterpillar Inc. | 0.26% | 376,718 | $124.2M | Reduce -30.0% |
| ELV Elevance Health Inc. | 0.26% | 285,067 | $124.0M | Add +2.4% |
| SNA Snap-on Inc. | 0.26% | 365,028 | $123.0M | Add +10.3% |
| ANET Arista Networks Inc. | 0.26% | 1,572,353 | $121.8M | Reduce -15.4% |
| BLK BlackRock Inc. | 0.25% | 128,017 | $121.2M | Add +1.6% |
| APH Amphenol Corp. Class A | 0.25% | 1,835,151 | $120.4M | Reduce -18.1% |
| GRMN Garmin Ltd. | 0.25% | 549,417 | $119.3M | Add +38.0% |
| NEM Newmont Corp. | 0.24% | 2,411,264 | $116.4M | Add +1074.8% |
Portfolio Sells Q4 2024 → Q1 2025
| VUG Vanguard Mrngstar GR ETF-Sui | Sold out | 0.00% | −0.95 |
| NVDA Nvidia Corp. | Reduce -8.0% | 2.77% | −0.93 |
| XLV SS Health Care Select Sector | Reduce -84.8% | 0.16% | −0.82 |
| QUAL iShares MSCI USA Quality Fac | Sold out | 0.00% | −0.73 |
| MSFT Microsoft Corp. | Reduce -5.0% | 3.39% | −0.58 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Sold out | 0.00% | −0.54 |
| VNQ Vanguard Real Estate ETF | Reduce -74.8% | 0.16% | −0.46 |
| RSP Invesco S&P 500 Equal Weight | Reduce -35.0% | 0.84% | −0.45 |
| XLP SS Consumer Staples Sel Sect | Reduce -68.6% | 0.21% | −0.43 |
| TSLA Tesla Inc. | Reduce -12.8% | 0.45% | −0.34 |
| AMZN Amazon.com Inc. | Reduce -3.2% | 1.85% | −0.33 |
| KR Kroger Co. | Reduce -69.0% | 0.15% | −0.28 |
| LEN Lennar Corp. Class A | Reduce -59.0% | 0.13% | −0.25 |
| MCK McKesson Corp. | Reduce -46.5% | 0.40% | −0.23 |
| WMT Walmart Inc. | Reduce -21.4% | 0.74% | −0.22 |
| AMAT Applied Materials Inc. | Reduce -51.8% | 0.16% | −0.21 |
| GDDY GoDaddy Inc. Class A | Reduce -41.4% | 0.24% | −0.20 |
| TMO Thermo Fisher Scientific Inc. | Reduce -72.7% | 0.07% | −0.19 |
| GOOG Alphabet Inc. Class C | Reduce -5.0% | 0.65% | −0.18 |
| ANET Arista Networks Inc. | Reduce -15.4% | 0.26% | −0.17 |
| REGN Regeneron Pharmaceuticals | Reduce -28.2% | 0.30% | −0.16 |
| LNG Cheniere Energy Inc. | Reduce -72.3% | 0.07% | −0.16 |
| C Citigroup Inc. | Reduce -24.3% | 0.49% | −0.15 |
| CAT Caterpillar Inc. | Reduce -30.0% | 0.26% | −0.15 |
| WSM Williams-Sonoma Inc. | Reduce -61.2% | 0.07% | −0.14 |
| KNX Knight-Swift Transportation | Sold out | 0.00% | −0.13 |
| ORCL Oracle Corp. | Reduce -41.9% | 0.12% | −0.13 |
| CM Can Imperial BK of Commerce | Reduce -60.4% | 0.07% | −0.13 |
| DIS The Walt Disney Co. | Reduce -47.6% | 0.11% | −0.12 |
| NBIX Neurocrine Biosciences Inc. | Reduce -46.6% | 0.09% | −0.12 |
| BIPC Brookfield Infrastructure-A | Sold out | 0.00% | −0.11 |
| AXP American Express Co. | Reduce -32.7% | 0.18% | −0.11 |
| OC Owens Corning | Reduce -62.2% | 0.05% | −0.11 |
| IWM iShares Russell 2000 ETF | Sold out | 0.00% | −0.11 |
| DHI D.R. Horton Inc. | Reduce -56.1% | 0.07% | −0.11 |
| RY Royal Bank of Canada | Reduce -11.6% | 0.51% | −0.10 |
| BAC Bank of America Corp. | Reduce -18.0% | 0.37% | −0.10 |
| PKG Packaging Corp. of America | Reduce -79.3% | 0.02% | −0.10 |
| D Dominion Energy Inc. | Reduce -57.8% | 0.08% | −0.10 |
| ROL Rollins Inc. | Reduce -79.0% | 0.03% | −0.10 |
| CSL Carlisle Cos Inc. | Reduce -87.1% | 0.01% | −0.10 |
| MDLZ Mondelez International Inc. Class A | Reduce -46.5% | 0.15% | −0.09 |
| NTAP Netapp Inc. | Reduce -64.2% | 0.04% | −0.09 |
| SHOP Shopify Inc. Class A | Reduce -16.6% | 0.27% | −0.09 |
| TFC Truist Financial Corp. | Reduce -85.3% | 0.01% | −0.09 |
| HCA HCA Healthcare Inc. | Reduce -94.6% | 0.01% | −0.08 |
| MLM Martin Marietta Materials | Sold out | 0.00% | −0.08 |
| DD Dupont DE Nemours Inc. | Reduce -47.9% | 0.08% | −0.08 |
| BN Brookfield Corp. | Reduce -23.8% | 0.18% | −0.08 |
| VTI VG Morningstar TS MKT ETF-US | Sold out | 0.00% | −0.08 |
Portfolio Buys Q4 2024 → Q1 2025
| VTV Vanguard Mrngstr Val ETF-Aui | New | 1.76% | +1.76 |
| V Visa Inc. Class A | Add +151.5% | 0.77% | +0.49 |
| LLY Eli Lilly & Co. | Add +46.4% | 1.33% | +0.49 |
| JNJ Johnson & Johnson | Add +22.6% | 1.25% | +0.37 |
| WCN Waste Connections Inc. | Add +195.0% | 0.47% | +0.33 |
| BCE Bce Inc. | Add +36.1% | 1.22% | +0.32 |
| JPM JPMorgan Chase & Co. | Add +26.5% | 1.36% | +0.32 |
| LHX L3HARRIS Technologies Inc. | Add +946.6% | 0.34% | +0.31 |
| COR Cencora Inc. | Add +144.4% | 0.43% | +0.29 |
| USMV iShares MSCI USA Min Vol Fac | New | 0.27% | +0.27 |
| CTAS Cintas Corp. | Add +169.7% | 0.39% | +0.26 |
| ABBV Abbvie Inc. | Add +34.5% | 0.70% | +0.26 |
| TXN Texas Instruments Inc. | Add +217.8% | 0.39% | +0.26 |
| NEM Newmont Corp. | Add +1074.8% | 0.24% | +0.23 |
| BABA Alibaba Group Holding-SP ADR | New | 0.20% | +0.20 |
| RTX RTX Corp. | New | 0.19% | +0.19 |
| T AT&T Inc. | Add +8.3% | 0.65% | +0.17 |
| CMG Chipotle Mexican Grill Inc. | Add +151.3% | 0.32% | +0.17 |
| GILD Gilead Sciences Inc. | Add +50.8% | 0.36% | +0.17 |
| PGR Progressive Corp. | Add +1.8% | 0.94% | +0.17 |
| MDT Medtronic PLC | Add +26.3% | 0.53% | +0.16 |
| COST Costco Wholesale Corp. | Add +19.4% | 0.80% | +0.16 |
| UAL United Airlines Holdings Inc. | New | 0.15% | +0.15 |
| MRSH Marsh & McLennan Cos | Add +19.9% | 0.51% | +0.14 |
| TJX TJX Companies Inc. | Add +20.8% | 0.76% | +0.14 |
| ABT Abbott Laboratories | Add +112.8% | 0.23% | +0.14 |
| LRCX Lam Research Corp. | Add +721.7% | 0.15% | +0.13 |
| META Meta Platforms Inc. Class A | Add +7.7% | 2.01% | +0.13 |
| NEE Nextera Energy Inc. | Add +2176.2% | 0.13% | +0.12 |
| NKE Nike Inc. Class B | Add +450.7% | 0.16% | +0.12 |
| FTS Fortis Inc. | New | 0.12% | +0.12 |
| DUK Duke Energy Corp. | Add +18.9% | 0.43% | +0.11 |
| AZO AutoZone Inc. | Add +12.9% | 0.41% | +0.11 |
| UNH Unitedhealth Group Inc. | Add +5.9% | 1.10% | +0.11 |
| KO The Coca-Cola Co. | Add +6.5% | 0.52% | +0.10 |
| WPM Wheaton Precious Metals Corp. | Add +21.6% | 0.24% | +0.10 |
| FNV Franco-Nevada Corp. | Add +280.7% | 0.12% | +0.10 |
| ADI Analog Devices Inc. | New | 0.10% | +0.10 |
| BSX Boston Scientific Corp. | Add +12.2% | 0.44% | +0.09 |
| MCD McDonald's Corp. | Add +7.2% | 0.66% | +0.09 |
| HON Honeywell International Inc. | Add +33.2% | 0.45% | +0.09 |
| LIN Linde PLC | Add +35.7% | 0.27% | +0.09 |
| WMB Williams Cos Inc. | New | 0.09% | +0.09 |
| EQIX Equinix Inc. | Add +249.8% | 0.14% | +0.09 |
| EBAY eBay Inc. | Add +625.9% | 0.10% | +0.09 |
| AEM Agnico Eagle Mines Ltd. | Add +14.8% | 0.24% | +0.09 |
| GE General Electric | Add +16.9% | 0.30% | +0.09 |
| NRG NRG Energy Inc. | Add +33.6% | 0.30% | +0.09 |
| AME Ametek Inc. | Add +158.3% | 0.15% | +0.09 |
| KLAC KLA Corp. | Add +736.6% | 0.10% | +0.09 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 705 | $70.2B | AAPL, NVDA, CNI, MSFT, GOOGL |
| Q1 2026 | 684 | $62.4B | AAPL, NVDA, CNI, GOOGL, MSFT |
| Q4 2025 | 540 | $59.0B | AAPL, NVDA, MSFT, GOOGL, GIB |
| Q3 2025 | 539 | $55.5B | NVDA, MSFT, AAPL, GIB, GOOGL |
| Q2 2025 | 478 | $46.8B | MSFT, NVDA, AAPL, GIB, CNI |
| Q1 2025 | 591 | $47.7B | AAPL, GIB, MSFT, NVDA, CNI |
| Q4 2024 | 516 | $48.1B | AAPL, MSFT, GIB, NVDA, CNI |
| Q3 2024 | 495 | $50.3B | MSFT, AAPL, NVDA, GIB, CNI |
| Q2 2024 | 460 | $41.2B | MSFT, NVDA, AAPL, GIB, CNI |
| Q1 2024 | 481 | $41.6B | GIB, MSFT, NVDA, CNI, AAPL |