Canada Pension Plan Investment Board
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Canada Pension Plan Investment Board reported 1,344 stock positions worth $116.9 billion. Its top holding was Nvidia (NVDA) at 4.9% of the portfolio, followed by Microsoft (MSFT, 4.7%) and Apple (AAPL, 4.0%). Compared with Q1 2025, it opened 180 new positions, sold out of 133, added to 582 and reduced 415. The biggest buy was Nvidia (NVDA, shares +7%) and the biggest sale Unitedhealth (UNH, shares −62%).
- Most Recent 13F
- Q2 2026
- Location
- TORONTO ONTARIO, A6
- CIK
- 0001283718
- Portfolio Value
- $116.9B (Q2 2025)
- SEC Filing
- 0001104659-25-078758 ↗ filed Aug 14, 2025
Holdings Value
Holdings 1,344 stocks · $116.9B
| NVDA Nvidia Corp. | 4.95% | 36,610,091 | $5.8B | Add +7.1% |
| MSFT Microsoft Corp. | 4.71% | 11,078,049 | $5.5B | Add +8.7% |
| AAPL Apple Inc. | 4.03% | 22,943,811 | $4.7B | Add +16.5% |
| AMZN Amazon.com Inc. | 2.46% | 13,116,881 | $2.9B | Add +15.6% |
| MA Mastercard Inc. Class A | 1.98% | 4,128,809 | $2.3B | Reduce -14.1% |
| META Meta Platforms Inc. Class A | 1.89% | 2,997,831 | $2.2B | Add +2.9% |
| AVGO Broadcom Inc. | 1.81% | 7,690,105 | $2.1B | Add +8.6% |
| SRAD Sportradar Group AG-A | 1.64% | 68,171,745 | $1.9B | Reduce -14.3% |
| GE General Electric filed as GE AEROSPACE | 1.46% | 6,611,463 | $1.7B | Reduce -12.5% |
| VIK Viking Holdings Ltd. | 1.43% | 31,344,744 | $1.7B | Reduce -22.5% |
| GOOGL Alphabet Inc. Class A | 1.39% | 9,249,698 | $1.6B | Reduce -21.0% |
| INFA Informatica Inc. Class A | 1.34% | 64,379,838 | $1.6B | No change |
| LIN Linde PLC | 1.32% | 3,286,894 | $1.5B | Reduce -6.5% |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.18% | 2,237,000 | $1.4B | No change |
| TMUS T-Mobile US Inc. | 1.18% | 5,793,249 | $1.4B | Reduce -15.9% |
| LYV Live Nation Entertainment Inc. | 1.14% | 8,806,221 | $1.3B | Reduce -2.5% |
| JPM JPMorgan Chase & Co. | 1.11% | 4,465,799 | $1.3B | Add +7.2% |
| DLR Digital Realty Trust Inc. | 1.10% | 7,356,429 | $1.3B | Add +3.0% |
| CNQ Canadian Natural Resources | 1.02% | 37,793,376 | $1.2B | Reduce -9.5% |
| TSLA Tesla Inc. | 0.98% | 3,595,392 | $1.1B | Add +18.0% |
| GOOG Alphabet Inc. Class C | 0.95% | 6,279,599 | $1.1B | Reduce -1.3% |
| TRP TC Energy Corp. | 0.88% | 20,986,748 | $1.0B | Add +6.0% |
| WAY Waystar Holding Corp. | 0.87% | 24,964,225 | $1.0B | Reduce -15.9% |
| EQH Equitable Holdings Inc. | 0.85% | 17,616,671 | $988.3M | Reduce -6.1% |
| UNP Union Pacific Corp. | 0.81% | 4,125,080 | $949.1M | Reduce -10.8% |
| TD Toronto-Dominion Bank | 0.79% | 12,470,618 | $917.8M | Add +18.5% |
| RY Royal Bank of Canada | 0.77% | 6,867,900 | $905.7M | Add +8.2% |
| NFLX Netflix Inc. | 0.77% | 674,199 | $902.8M | Reduce -16.2% |
| LLY Eli Lilly & Co. | 0.77% | 1,152,281 | $898.2M | Add +87.2% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.75% | 1,806,857 | $877.7M | Add +21.3% |
| EQIX Equinix Inc. | 0.75% | 1,102,423 | $876.9M | Add +3.7% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.61% | 15,009,961 | $710.3M | Add +6.7% |
| IQV Iqvia Holdings Inc. | 0.56% | 4,168,479 | $656.9M | Reduce -9.3% |
| IWM iShares Russell 2000 ETF | 0.56% | 3,010,000 | $649.5M | No change |
| XOM Exxon Mobil Corp. | 0.55% | 5,915,291 | $637.7M | Add +16.2% |
| SHOP Shopify Inc. Class A | 0.52% | 5,280,409 | $609.4M | Reduce -11.2% |
| ENB Enbridge Inc. | 0.51% | 13,213,321 | $599.6M | Add +38.7% |
| ISRG Intuitive Surgical Inc. | 0.51% | 1,089,293 | $591.9M | Add +27.1% |
| D Dominion Energy Inc. | 0.50% | 10,435,275 | $589.8M | Reduce -2.0% |
| CRM Salesforce Inc. | 0.48% | 2,054,201 | $560.2M | Add +7.9% |
| HD Home Depot Inc. | 0.47% | 1,510,000 | $553.6M | Add +40.3% |
| RNW Renew Energy Global PLC-A | 0.45% | 76,501,166 | $528.6M | No change |
| BSX Boston Scientific Corp. | 0.43% | 4,719,646 | $506.9M | Reduce -24.3% |
| COF Capital One Financial Corp. | 0.42% | 2,325,208 | $494.7M | Add +619.6% |
| CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BK COMM | 0.42% | 6,847,926 | $486.4M | Add +13.1% |
| COST Costco Wholesale Corp. | 0.42% | 490,871 | $485.9M | Add +55.0% |
| CRC California Resources Corp. | 0.41% | 10,506,895 | $479.8M | No change |
| UNH Unitedhealth Group Inc. | 0.40% | 1,511,834 | $471.6M | Reduce -62.3% |
| PG The Procter & Gamble Co. | 0.40% | 2,932,319 | $467.2M | Add +122.5% |
| ABBV Abbvie Inc. | 0.40% | 2,513,624 | $466.6M | Add +43.3% |
| JNJ Johnson & Johnson | 0.39% | 2,946,825 | $450.1M | Add +6.0% |
| LNG Cheniere Energy Inc. | 0.38% | 1,845,285 | $449.4M | Add +0.5% |
| PEP Pepsico Inc. | 0.38% | 3,372,675 | $445.3M | Add +76.2% |
| ADBE Adobe Inc. | 0.38% | 1,149,788 | $444.8M | Add +16.9% |
| DHR Danaher Corp. | 0.37% | 2,194,510 | $433.5M | Add +15.9% |
| WTRG Essential Utilities Inc. | 0.37% | 11,661,095 | $433.1M | Reduce -46.2% |
| CSCO Cisco Systems Inc. | 0.37% | 6,184,590 | $429.1M | Add +2.4% |
| NTR Nutrien Ltd. | 0.37% | 7,341,309 | $428.1M | Reduce -16.4% |
| PLTR Palantir Technologies Inc. Class A | 0.37% | 3,139,480 | $428.0M | Add +40.7% |
| BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA HALIFAX | 0.36% | 7,646,549 | $423.1M | Reduce -8.6% |
| BN Brookfield Corp. | 0.35% | 6,540,631 | $405.1M | Add +132.5% |
| CP Canadian Pacific Kansas City | 0.35% | 5,087,810 | $404.4M | Add +12.0% |
| GS Goldman Sachs Group Inc. | 0.34% | 566,779 | $401.1M | Add +8.1% |
| SU Suncor Energy Inc. | 0.34% | 10,555,381 | $395.6M | Add +29.5% |
| INTU Intuit Inc. | 0.34% | 497,226 | $391.6M | Add +1.1% |
| BMO Bank of Montreal filed as BANK MONTREAL QUE | 0.33% | 3,492,390 | $387.3M | Reduce -5.0% |
| ORCL Oracle Corp. | 0.33% | 1,744,226 | $381.3M | Add +28.3% |
| CNI Canadian Natl Railway Co. | 0.32% | 3,634,439 | $378.9M | Add +27.1% |
| UBER Uber Technologies Inc. | 0.32% | 4,061,161 | $378.9M | Add +14.6% |
| WMT Walmart Inc. | 0.32% | 3,831,326 | $374.6M | Add +43.8% |
| C Citigroup Inc. | 0.32% | 4,334,407 | $368.9M | Add +47.4% |
| AMD Advanced Micro Devices | 0.31% | 2,556,958 | $362.8M | Add +52.7% |
| IPG Interpublic Group of Cos Inc. | 0.31% | 14,819,997 | $362.8M | Add +6.7% |
| SCHW Schwab (charles) Corp. | 0.31% | 3,963,095 | $361.6M | Add +33.7% |
| SPOT Spotify Technology SA | 0.30% | 457,397 | $351.0M | Add +30.6% |
| KO The Coca-Cola Co. | 0.30% | 4,946,478 | $350.0M | Add +73.8% |
| WFC Wells Fargo & Co. | 0.29% | 4,271,200 | $342.2M | Reduce -19.5% |
| INVH Invitation Homes Inc. | 0.29% | 10,415,848 | $341.6M | Reduce -27.9% |
| PM Philip Morris International | 0.29% | 1,838,118 | $334.8M | Add +47.0% |
| V Visa Inc. Class A | 0.29% | 939,308 | $333.5M | Add +1.0% |
| PLD Prologis Inc. | 0.28% | 3,151,497 | $331.3M | Add +8.9% |
| TRGP Targa Resources Corp. | 0.28% | 1,886,844 | $328.5M | Add +12.0% |
| KKR KKR & Co. Inc. | 0.28% | 2,428,064 | $323.0M | Reduce -20.4% |
| AMAT Applied Materials Inc. | 0.27% | 1,734,550 | $317.5M | Add +41.4% |
| MS Morgan Stanley | 0.27% | 2,223,850 | $313.3M | Reduce -1.4% |
| NOW ServiceNow Inc. | 0.26% | 298,718 | $307.1M | Reduce -20.7% |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | 0.26% | 2,800,000 | $306.9M | New |
| QCOM Qualcomm Inc. | 0.26% | 1,917,911 | $305.4M | Add +28.1% |
| CVX Chevron Corp. | 0.26% | 2,106,408 | $301.6M | Add +11.3% |
| MRK Merck & Co. Inc. | 0.25% | 3,637,000 | $287.9M | Reduce -4.8% |
| QQQ Invesco QQQ Trust Series 1 | 0.24% | 509,000 | $280.8M | No change |
| BKNG Booking Holdings Inc. | 0.24% | 48,404 | $280.2M | Add +61.4% |
| AEM Agnico Eagle Mines Ltd. | 0.24% | 2,344,302 | $279.5M | No change |
| ARES Ares Management Corp. Class A | 0.24% | 1,605,906 | $278.1M | Reduce -7.0% |
| VMRK Vivmark Residential filed as EQUITY RESIDENTIAL | 0.24% | 4,106,232 | $277.1M | Add +1.1% |
| PCG P G & E Corp. | 0.24% | 19,811,938 | $276.2M | Add +3.3% |
| EIX Edison International | 0.23% | 5,322,796 | $274.7M | Add +14.3% |
| NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD | 0.23% | 19,708,600 | $270.4M | Add +11.8% |
| AVB Avalonbay Communities Inc. | 0.23% | 1,299,369 | $264.4M | Reduce -23.4% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.23% | 893,958 | $263.5M | Add +67.7% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $28.9M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| PELOTON INTERACTIVE INC (PTON 0 02/15/26) | NOTE 2/1 · principal | 29,957,000 | $28.9M | No change |
Total filed on the 13F, all lines: $116.9B.
Portfolio Sells Q1 2025 → Q2 2025
| UNH Unitedhealth Group Inc. | Reduce -62.3% | 0.40% | −1.64 |
| TMUS T-Mobile US Inc. | Reduce -15.9% | 1.18% | −0.60 |
| MA Mastercard Inc. Class A | Reduce -14.1% | 1.98% | −0.57 |
| WTRG Essential Utilities Inc. | Reduce -46.2% | 0.37% | −0.46 |
| GOOGL Alphabet Inc. Class A | Reduce -21.0% | 1.39% | −0.36 |
| BCE Bce Inc. | Reduce -90.2% | 0.03% | −0.29 |
| LIN Linde PLC | Reduce -6.5% | 1.32% | −0.27 |
| UNP Union Pacific Corp. | Reduce -10.8% | 0.81% | −0.25 |
| PBA Pembina Pipeline Corp. | Reduce -69.7% | 0.08% | −0.24 |
| CNQ Canadian Natural Resources | Reduce -9.5% | 1.02% | −0.23 |
| ARE Alexandria Real Estate Equit | Reduce -52.0% | 0.11% | −0.23 |
| IQV Iqvia Holdings Inc. | Reduce -9.3% | 0.56% | −0.22 |
| ESGR Enstar Group Ltd. | Sold out | 0.00% | −0.21 |
| WAY Waystar Holding Corp. | Reduce -15.9% | 0.87% | −0.20 |
| DFS Discover Financial Services | Sold out | 0.00% | −0.20 |
| INVH Invitation Homes Inc. | Reduce -27.9% | 0.29% | −0.20 |
| BSX Boston Scientific Corp. | Reduce -24.3% | 0.43% | −0.18 |
| MAA Mid-America Apartment Comm | Sold out | 0.00% | −0.17 |
| VIK Viking Holdings Ltd. | Reduce -22.5% | 1.43% | −0.13 |
| AVB Avalonbay Communities Inc. | Reduce -23.4% | 0.23% | −0.13 |
| HR Healthcare Realty Trust Inc. | Reduce -62.2% | 0.06% | −0.12 |
| BLK BlackRock Inc. | Reduce -67.5% | 0.05% | −0.12 |
| MFC Manulife Financial Corp. | Reduce -32.9% | 0.18% | −0.12 |
| LPLA LPL Financial Holdings Inc. | Sold out | 0.00% | −0.10 |
| AZO AutoZone Inc. | Reduce -23.4% | 0.20% | −0.10 |
| EQH Equitable Holdings Inc. | Reduce -6.1% | 0.85% | −0.10 |
| REXR Rexford Industrial Realty Inc. | Reduce -76.2% | 0.02% | −0.10 |
| AEP American Electric Power | Reduce -66.3% | 0.04% | −0.10 |
| UDR Udr Inc. | Reduce -95.1% | 0.00% | −0.10 |
| MRK Merck & Co. Inc. | Reduce -4.8% | 0.25% | −0.09 |
| STLA Stellantis NV | Reduce -39.7% | 0.08% | −0.09 |
| CABO Cable One Inc. | Reduce -99.4% | 0.00% | −0.08 |
| AVTR Avantor Inc. | Reduce -94.2% | 0.00% | −0.08 |
| TMO Thermo Fisher Scientific Inc. | Reduce -9.2% | 0.15% | −0.08 |
| GDDY GoDaddy Inc. Class A | Reduce -20.1% | 0.19% | −0.08 |
| WFC Wells Fargo & Co. | Reduce -19.5% | 0.29% | −0.08 |
| D Dominion Energy Inc. | Reduce -2.0% | 0.50% | −0.08 |
| SLF Sun Life Financial Inc. | Reduce -33.1% | 0.16% | −0.07 |
| REGN Regeneron Pharmaceuticals | Reduce -40.6% | 0.05% | −0.07 |
| NOC Northrop Grumman Corp. | Reduce -38.8% | 0.08% | −0.07 |
| MDB Mongodb Inc. | Reduce -62.7% | 0.04% | −0.07 |
| KKR KKR & Co. Inc. | Reduce -20.4% | 0.28% | −0.07 |
| NTR Nutrien Ltd. | Reduce -16.4% | 0.37% | −0.06 |
| BMY Bristol-Myers Squibb Co. | Reduce -3.6% | 0.10% | −0.05 |
| FANG Diamondback Energy Inc. | Reduce -20.8% | 0.07% | −0.05 |
| WDC Western Digital Corp. | Reduce -97.1% | 0.00% | −0.05 |
| TEL Te Connectivity PLC | Reduce -25.8% | 0.17% | −0.05 |
| TRI Thomson Reuters Corp. | Reduce -67.0% | 0.02% | −0.05 |
| JD Jd.com Inc.-ADR | Reduce -95.9% | 0.00% | −0.04 |
| ALC Alcon Inc. | Reduce -20.9% | 0.08% | −0.04 |
Portfolio Buys Q1 2025 → Q2 2025
| NVDA Nvidia Corp. | Add +7.1% | 4.95% | +1.35 |
| MSFT Microsoft Corp. | Add +8.7% | 4.71% | +1.00 |
| AVGO Broadcom Inc. | Add +8.6% | 1.81% | +0.66 |
| COF Capital One Financial Corp. | Add +619.6% | 0.42% | +0.37 |
| AMZN Amazon.com Inc. | Add +15.6% | 2.46% | +0.36 |
| LLY Eli Lilly & Co. | Add +87.2% | 0.77% | +0.27 |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | New | 0.26% | +0.26 |
| META Meta Platforms Inc. Class A | Add +2.9% | 1.89% | +0.26 |
| TSLA Tesla Inc. | Add +18.0% | 0.98% | +0.21 |
| BN Brookfield Corp. | Add +132.5% | 0.35% | +0.20 |
| PLTR Palantir Technologies Inc. Class A | Add +40.7% | 0.37% | +0.18 |
| PG The Procter & Gamble Co. | Add +122.5% | 0.40% | +0.18 |
| TD Toronto-Dominion Bank | Add +18.5% | 0.79% | +0.17 |
| AMD Advanced Micro Devices | Add +52.7% | 0.31% | +0.14 |
| ORCL Oracle Corp. | Add +28.3% | 0.33% | +0.14 |
| CVE Cenovus Energy Inc. | Add +322.7% | 0.18% | +0.13 |
| COST Costco Wholesale Corp. | Add +55.0% | 0.42% | +0.12 |
| MU Micron Technology Inc. | Add +198.9% | 0.17% | +0.12 |
| PH Parker Hannifin Corp. | Add +115.7% | 0.22% | +0.12 |
| TXN Texas Instruments Inc. | Add +107.5% | 0.22% | +0.12 |
| JPM JPMorgan Chase & Co. | Add +7.2% | 1.11% | +0.11 |
| SPOT Spotify Technology SA | Add +30.6% | 0.30% | +0.11 |
| EXC Exelon Corp. | Add +164.3% | 0.21% | +0.11 |
| C Citigroup Inc. | Add +47.4% | 0.32% | +0.11 |
| BKNG Booking Holdings Inc. | Add +61.4% | 0.24% | +0.11 |
| ENB Enbridge Inc. | Add +38.7% | 0.51% | +0.10 |
| DLR Digital Realty Trust Inc. | Add +3.0% | 1.10% | +0.10 |
| PEP Pepsico Inc. | Add +76.2% | 0.38% | +0.10 |
| KO The Coca-Cola Co. | Add +73.8% | 0.30% | +0.10 |
| DIS The Walt Disney Co. | Add +98.6% | 0.18% | +0.10 |
| AMAT Applied Materials Inc. | Add +41.4% | 0.27% | +0.10 |
| IBM Intl Business Machines Corp. | Add +67.7% | 0.23% | +0.10 |
| RBLX Roblox Corp. Class A | Add +95.7% | 0.14% | +0.10 |
| ISRG Intuitive Surgical Inc. | Add +27.1% | 0.51% | +0.09 |
| PM Philip Morris International | Add +47.0% | 0.29% | +0.09 |
| WMT Walmart Inc. | Add +43.8% | 0.32% | +0.09 |
| APP AppLovin Corp. Class A | Add +204.8% | 0.13% | +0.09 |
| HD Home Depot Inc. | Add +40.3% | 0.47% | +0.09 |
| GDS GDS Holdings Ltd. - ADR | Add +77.7% | 0.18% | +0.09 |
| CM Can Imperial BK of Commerce | Add +13.1% | 0.42% | +0.09 |
| SCHW Schwab (charles) Corp. | Add +33.7% | 0.31% | +0.08 |
| RY Royal Bank of Canada | Add +8.2% | 0.77% | +0.08 |
| SO The Southern Co. | Add +1518.4% | 0.08% | +0.08 |
| CL Colgate-Palmolive Co. | Add +392.8% | 0.10% | +0.08 |
| UBER Uber Technologies Inc. | Add +14.6% | 0.32% | +0.07 |
| BX Blackstone Inc. | Add +115.4% | 0.14% | +0.07 |
| EMA Emera Inc. | New | 0.07% | +0.07 |
| GEV GE Vernova Inc. | Add +6.8% | 0.18% | +0.07 |
| COIN Coinbase Global Inc. Class A | Add +50.9% | 0.11% | +0.07 |
| CCI Crown Castle Inc. | Add +15241.9% | 0.07% | +0.07 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 1,694 | $180.8B | NVDA, AAPL, MSFT, AVGO, GOOGL |
| Q1 2026 | 1,679 | $155.0B | NVDA, AAPL, MSFT, AMZN, GOOGL |
| Q4 2025 | 1,970 | $149.5B | NVDA, AAPL, MSFT, AMZN, AVGO |
| Q3 2025 | 1,345 | $142.4B | NVDA, MSFT, AAPL, AMZN, AVGO |
| Q2 2025 | 1,344 | $116.9B | NVDA, MSFT, AAPL, AMZN, MA |
| Q1 2025 | 1,296 | $103.0B | AAPL, MSFT, NVDA, MA, AMZN |
| Q4 2024 | 1,396 | $105.0B | NVDA, AAPL, MSFT, MA, UNH |
| Q3 2024 | 1,317 | $105.5B | NVDA, GOOGL, MSFT, AAPL, UNH |
| Q2 2024 | 1,358 | $101.7B | NVDA, GOOGL, MSFT, AAPL, INFA |
| Q1 2024 | 1,164 | $95.1B | NVDA, GOOGL, MSFT, INFA, MA |