Public Sector Pension Investment Board
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 12, 2025), Public Sector Pension Investment Board reported 1,236 stock positions worth $23.1 billion. Its top holding was Microsoft (MSFT) at 5.6% of the portfolio, followed by Apple (AAPL, 5.2%) and Nvidia (NVDA, 4.4%). Compared with Q4 2024, it opened 47 new positions, sold out of 36, added to 1,028 and reduced 129. The biggest buy was Microsoft (MSFT, shares +29%) and the biggest sale an exit from D-Wave Quantum (QBTS).
- Most Recent 13F
- Q2 2026
- Location
- MONTREAL, A8
- CIK
- 0001396318
- Portfolio Value
- $23.1B (Q1 2025)
- SEC Filing
- 0001396318-25-000015 ↗ filed May 12, 2025
Holdings Value
Holdings 1,236 stocks · $23.1B
| MSFT Microsoft Corp. | 5.58% | 3,435,560 | $1.3B | Add +29.0% |
| AAPL Apple Inc. | 5.16% | 5,368,402 | $1.2B | Add +11.6% |
| NVDA Nvidia Corp. | 4.44% | 9,466,221 | $1.0B | Add +4.6% |
| AMZN Amazon.com Inc. | 2.86% | 3,475,888 | $661.3M | Add +22.4% |
| META Meta Platforms Inc. Class A | 2.51% | 1,007,707 | $580.8M | Add +21.7% |
| GOOGL Alphabet Inc. Class A | 1.83% | 2,728,513 | $421.9M | Add +19.8% |
| AVGO Broadcom Inc. | 1.54% | 2,126,623 | $356.1M | Reduce -4.3% |
| TSAT Telesat Corp. | 1.47% | 18,211,203 | $339.5M | No change |
| BRK.B Berkshire Hathaway Inc. Class B | 1.21% | 523,085 | $278.6M | Add +2.9% |
| MA Mastercard Inc. Class A | 1.20% | 505,343 | $277.0M | Add +61.5% |
| JPM JPMorgan Chase & Co. | 1.17% | 1,104,633 | $271.0M | Reduce -7.0% |
| CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BK COMM | 1.14% | 4,681,008 | $263.3M | Add +27.2% |
| V Visa Inc. Class A | 1.12% | 736,751 | $258.2M | Add +1.4% |
| LLY Eli Lilly & Co. | 1.07% | 298,709 | $246.7M | Reduce -31.4% |
| TSLA Tesla Inc. | 0.95% | 847,372 | $219.6M | Add +22.8% |
| KO The Coca-Cola Co. | 0.93% | 3,000,061 | $214.9M | Add +444.2% |
| LIN Linde PLC | 0.92% | 457,171 | $212.9M | Add +106.1% |
| ES Eversource Energy | 0.92% | 3,423,589 | $212.6M | Add +0.1% |
| CRM Salesforce Inc. | 0.86% | 738,908 | $198.3M | Add +52.7% |
| WMT Walmart Inc. | 0.84% | 2,219,919 | $194.9M | Reduce -26.9% |
| ABBV Abbvie Inc. | 0.83% | 918,647 | $192.5M | Add +13.4% |
| UNP Union Pacific Corp. | 0.79% | 773,177 | $182.7M | Reduce -9.1% |
| XOM Exxon Mobil Corp. | 0.75% | 1,462,827 | $174.0M | Reduce -0.1% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.65% | 3,574,465 | $149.2M | Add +1.1% |
| HD Home Depot Inc. | 0.56% | 354,985 | $130.1M | Add +186.0% |
| NOW ServiceNow Inc. | 0.56% | 162,644 | $129.5M | Add +1.3% |
| WFC Wells Fargo & Co. | 0.56% | 1,789,428 | $128.5M | Reduce -24.8% |
| FISV Fiserv Inc. | 0.56% | 580,780 | $128.3M | Add +1.2% |
| PH Parker Hannifin Corp. | 0.54% | 206,905 | $125.8M | Reduce -4.9% |
| ABT Abbott Laboratories | 0.54% | 937,949 | $124.4M | Add +4.2% |
| ORCL Oracle Corp. | 0.52% | 862,297 | $120.6M | Add +2.3% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.51% | 961,623 | $117.1M | Add +8.6% |
| GOOG Alphabet Inc. Class C | 0.50% | 734,684 | $114.8M | Reduce -17.5% |
| LOW Lowe's Cos Inc. | 0.49% | 489,388 | $114.1M | Add +8.1% |
| UNH Unitedhealth Group Inc. | 0.49% | 217,845 | $114.1M | Reduce -53.8% |
| ETN Eaton Corp. PLC | 0.49% | 418,818 | $113.8M | Add +10.0% |
| TMUS T-Mobile US Inc. | 0.49% | 425,593 | $113.5M | Reduce -38.1% |
| COST Costco Wholesale Corp. | 0.49% | 119,464 | $113.0M | Add +19.1% |
| NFLX Netflix Inc. | 0.48% | 119,124 | $111.1M | Add +93.1% |
| PG The Procter & Gamble Co. | 0.48% | 647,235 | $110.3M | Reduce -11.7% |
| GWW WW Grainger Inc. filed as GRAINGER W W INC | 0.47% | 109,674 | $108.3M | Add +0.5% |
| TMO Thermo Fisher Scientific Inc. | 0.45% | 211,095 | $105.0M | Add +0.6% |
| KLAC KLA Corp. | 0.43% | 147,791 | $100.5M | Reduce -11.8% |
| MRK Merck & Co. Inc. | 0.41% | 1,048,898 | $94.1M | Reduce -57.6% |
| ARMK Aramark | 0.40% | 2,686,000 | $92.7M | No change |
| ISRG Intuitive Surgical Inc. | 0.38% | 179,380 | $88.8M | Reduce -10.6% |
| T AT&T Inc. | 0.38% | 3,081,485 | $87.1M | Reduce -37.6% |
| MSI Motorola Solutions Inc. | 0.37% | 195,106 | $85.4M | Add +0.9% |
| AXP American Express Co. | 0.36% | 307,398 | $82.7M | Add +1.3% |
| BSX Boston Scientific Corp. | 0.36% | 813,399 | $82.1M | Reduce -25.8% |
| UBER Uber Technologies Inc. | 0.35% | 1,115,841 | $81.3M | Add +1.6% |
| UBS UBS Group AG-Reg | 0.35% | 2,656,645 | $80.7M | Add +5.0% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.34% | 140,862 | $78.8M | Add +33.7% |
| SNPS Synopsys Inc. | 0.34% | 183,560 | $78.7M | Add +0.9% |
| JNJ Johnson & Johnson | 0.33% | 464,775 | $77.1M | Add +3.4% |
| CL Colgate-Palmolive Co. | 0.33% | 812,974 | $76.2M | Reduce -30.8% |
| CVX Chevron Corp. | 0.32% | 446,893 | $74.8M | Add +3.0% |
| SYK Stryker Corp. | 0.32% | 197,295 | $73.4M | Reduce -20.7% |
| CMI Cummins Inc. | 0.31% | 230,240 | $72.2M | Reduce -32.7% |
| EXR Extra Space Storage Inc. | 0.31% | 482,362 | $71.6M | Add +243.2% |
| MCK McKesson Corp. | 0.31% | 105,212 | $70.8M | Add +571.3% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.29% | 272,565 | $67.8M | Add +103.3% |
| ADI Analog Devices Inc. | 0.28% | 320,437 | $64.6M | Reduce -33.6% |
| TSM Taiwan Semiconductor-SP ADR | 0.27% | 379,952 | $63.1M | Reduce -23.2% |
| HLT Hilton Worldwide Holdings Inc. | 0.27% | 270,451 | $61.5M | Reduce -28.4% |
| LRCX Lam Research Corp. | 0.26% | 841,778 | $61.2M | Add +354.9% |
| ALV Autoliv Inc. | 0.26% | 684,773 | $60.6M | No change |
| HCA HCA Healthcare Inc. | 0.26% | 173,850 | $60.1M | Add +706.7% |
| ACN Accenture PLC Class A | 0.25% | 186,260 | $58.1M | Add +6.2% |
| MLM Martin Marietta Materials | 0.25% | 121,086 | $57.9M | Add +35.6% |
| C Citigroup Inc. | 0.25% | 814,883 | $57.8M | Reduce -19.3% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.23% | 543,990 | $53.7M | Add +3.5% |
| MS Morgan Stanley | 0.22% | 430,809 | $50.3M | Add +33.9% |
| GE General Electric filed as GE AEROSPACE | 0.21% | 244,915 | $49.0M | Reduce -43.7% |
| ARGX Argenx SE - ADR | 0.21% | 82,082 | $48.6M | Reduce -22.5% |
| LMT Lockheed Martin Corp. | 0.21% | 108,055 | $48.3M | Add +2.0% |
| PLTR Palantir Technologies Inc. Class A | 0.20% | 540,792 | $45.6M | Add +81.4% |
| GS Goldman Sachs Group Inc. | 0.20% | 83,443 | $45.6M | Add +2.5% |
| PNC PNC Financial Services Group | 0.19% | 255,876 | $45.0M | Add +1.2% |
| EQIX Equinix Inc. | 0.19% | 55,056 | $44.9M | Reduce -9.9% |
| GDDY GoDaddy Inc. Class A | 0.19% | 247,839 | $44.6M | Reduce -48.4% |
| PGR Progressive Corp. | 0.19% | 156,599 | $44.3M | Add +3.0% |
| LYV Live Nation Entertainment Inc. | 0.19% | 331,606 | $43.3M | Reduce -34.0% |
| SPGI S&P Global Inc. | 0.19% | 84,250 | $42.8M | Add +2.3% |
| SPOT Spotify Technology SA | 0.18% | 77,000 | $42.4M | Reduce -59.7% |
| INTC Intel Corp. | 0.18% | 1,863,458 | $42.3M | Add +7.5% |
| ADBE Adobe Inc. | 0.18% | 107,483 | $41.2M | Add +44.1% |
| PM Philip Morris International | 0.17% | 254,316 | $40.4M | Reduce -21.1% |
| NEE Nextera Energy Inc. | 0.17% | 549,824 | $39.0M | Reduce -41.7% |
| VZ Verizon Communications Inc. | 0.17% | 852,781 | $38.7M | Add +40.1% |
| PDD PDD Holdings Inc. | 0.17% | 322,952 | $38.2M | Add +14.7% |
| CSCO Cisco Systems Inc. | 0.17% | 617,672 | $38.1M | Reduce -29.9% |
| AMT American Tower Corp. | 0.16% | 170,958 | $37.2M | Reduce -52.6% |
| PFE Pfizer Inc. | 0.16% | 1,462,189 | $37.1M | Add +11.2% |
| BLK BlackRock Inc. | 0.16% | 38,900 | $36.8M | Add +3.0% |
| COP Conocophillips | 0.16% | 341,094 | $35.8M | Add +1.6% |
| SCHW Schwab (charles) Corp. | 0.15% | 455,604 | $35.7M | Reduce -12.5% |
| CME Cme Group Inc. | 0.15% | 133,976 | $35.5M | Reduce -1.1% |
| DB Deutsche Bank AG-Registered | 0.15% | 1,494,998 | $35.2M | Add +2.6% |
| BAP Credicorp Ltd. | 0.15% | 188,683 | $35.1M | No change |
Options reported separately and not counted above: DLTR calls ($105.1M).
Portfolio Sells Q4 2024 → Q1 2025
| QBTS D-Wave Quantum Inc. | Sold out | 0.00% | −1.42 |
| AVGO Broadcom Inc. | Reduce -4.3% | 1.54% | −0.64 |
| MRK Merck & Co. Inc. | Reduce -57.6% | 0.41% | −0.63 |
| FTS Fortis Inc. | Reduce -98.6% | 0.01% | −0.58 |
| UNH Unitedhealth Group Inc. | Reduce -53.8% | 0.49% | −0.51 |
| AVA Avista Corp. | Reduce -93.0% | 0.05% | −0.51 |
| MDLZ Mondelez International Inc. Class A | Reduce -89.7% | 0.05% | −0.37 |
| LLY Eli Lilly & Co. | Reduce -31.4% | 1.07% | −0.35 |
| WMT Walmart Inc. | Reduce -26.9% | 0.84% | −0.32 |
| ROST Ross Stores Inc. | Reduce -91.0% | 0.02% | −0.29 |
| LEN Lennar Corp. Class A | Reduce -93.3% | 0.02% | −0.25 |
| PWR Quanta Services Inc. | Reduce -90.1% | 0.02% | −0.25 |
| GOOG Alphabet Inc. Class C | Reduce -17.5% | 0.50% | −0.22 |
| XLF SS Financial Select Sector | Sold out | 0.00% | −0.21 |
| GDDY GoDaddy Inc. Class A | Reduce -48.4% | 0.19% | −0.21 |
| CMI Cummins Inc. | Reduce -32.7% | 0.31% | −0.19 |
| SPOT Spotify Technology SA | Reduce -59.7% | 0.18% | −0.18 |
| PLD Prologis Inc. | Reduce -60.0% | 0.12% | −0.16 |
| ADI Analog Devices Inc. | Reduce -33.6% | 0.28% | −0.15 |
| WFC Wells Fargo & Co. | Reduce -24.8% | 0.56% | −0.15 |
| TMUS T-Mobile US Inc. | Reduce -38.1% | 0.49% | −0.15 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -23.2% | 0.27% | −0.14 |
| DLR Digital Realty Trust Inc. | Reduce -66.3% | 0.05% | −0.14 |
| HLT Hilton Worldwide Holdings Inc. | Reduce -28.4% | 0.27% | −0.13 |
| CL Colgate-Palmolive Co. | Reduce -30.8% | 0.33% | −0.12 |
| AMT American Tower Corp. | Reduce -52.6% | 0.16% | −0.12 |
| NEE Nextera Energy Inc. | Reduce -41.7% | 0.17% | −0.12 |
| T AT&T Inc. | Reduce -37.6% | 0.38% | −0.10 |
| GE General Electric | Reduce -43.7% | 0.21% | −0.09 |
| MAR Marriott International Class A | Reduce -70.6% | 0.03% | −0.09 |
| BBWI Bath & Body Works Inc. | Sold out | 0.00% | −0.09 |
| LYV Live Nation Entertainment Inc. | Reduce -34.0% | 0.19% | −0.09 |
| BX Blackstone Inc. | Reduce -30.7% | 0.12% | −0.09 |
| FCX Freeport-McMoran Inc. | Reduce -69.8% | 0.04% | −0.09 |
| SHW The Sherwin-Williams Co. | Reduce -67.0% | 0.05% | −0.09 |
| ALK Alaska Air Group Inc. | Sold out | 0.00% | −0.09 |
| NEM Newmont Corp. | Reduce -79.2% | 0.03% | −0.08 |
| ATI Ati Inc. | Sold out | 0.00% | −0.08 |
| VST Vistra Corp. | Reduce -58.5% | 0.05% | −0.08 |
| CEG Constellation Energy | Reduce -47.4% | 0.07% | −0.08 |
| KMI Kinder Morgan Inc. | Reduce -57.4% | 0.06% | −0.08 |
| IJR iShares Core S&P Small-Cap E | Reduce -58.0% | 0.05% | −0.08 |
| VFC VF Corp. | Sold out | 0.00% | −0.07 |
| AMP Ameriprise Financial Inc. | Reduce -54.5% | 0.05% | −0.07 |
| IRM Iron Mountain Inc. | Reduce -65.1% | 0.03% | −0.07 |
| DLTR Dollar Tree Inc. | Reduce -89.1% | 0.01% | −0.07 |
| NXPI NXP Semiconductors NV | Reduce -65.3% | 0.03% | −0.07 |
| TXN Texas Instruments Inc. | Reduce -32.1% | 0.13% | −0.07 |
| ARGX Argenx SE - ADR | Reduce -22.5% | 0.21% | −0.07 |
| PKG Packaging Corp. of America | Reduce -84.3% | 0.01% | −0.06 |
Portfolio Buys Q4 2024 → Q1 2025
| MSFT Microsoft Corp. | Add +29.0% | 5.58% | +0.84 |
| KO The Coca-Cola Co. | Add +444.2% | 0.93% | +0.79 |
| LIN Linde PLC | Add +106.1% | 0.92% | +0.53 |
| MA Mastercard Inc. Class A | Add +61.5% | 1.20% | +0.50 |
| META Meta Platforms Inc. Class A | Add +21.7% | 2.51% | +0.47 |
| HD Home Depot Inc. | Add +186.0% | 0.56% | +0.36 |
| MCK McKesson Corp. | Add +571.3% | 0.31% | +0.27 |
| NFLX Netflix Inc. | Add +93.1% | 0.48% | +0.25 |
| HCA HCA Healthcare Inc. | Add +706.7% | 0.26% | +0.23 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +2.9% | 1.21% | +0.23 |
| AMZN Amazon.com Inc. | Add +22.4% | 2.86% | +0.23 |
| ABBV Abbvie Inc. | Add +13.4% | 0.83% | +0.23 |
| EXR Extra Space Storage Inc. | Add +243.2% | 0.31% | +0.22 |
| LRCX Lam Research Corp. | Add +354.9% | 0.26% | +0.21 |
| CRM Salesforce Inc. | Add +52.7% | 0.86% | +0.17 |
| IBM Intl Business Machines Corp. | Add +103.3% | 0.29% | +0.17 |
| CM Can Imperial BK of Commerce | Add +27.2% | 1.14% | +0.16 |
| V Visa Inc. Class A | Add +1.4% | 1.12% | +0.15 |
| GPC Genuine Parts Co. | Add +1326.3% | 0.13% | +0.12 |
| ABT Abbott Laboratories | Add +4.2% | 0.54% | +0.11 |
| PLTR Palantir Technologies Inc. Class A | Add +81.4% | 0.20% | +0.10 |
| COST Costco Wholesale Corp. | Add +19.1% | 0.49% | +0.10 |
| CORT Corcept Therapeutics Inc. | Add +27.3% | 0.15% | +0.10 |
| ES Eversource Energy | Add +0.1% | 0.92% | +0.09 |
| TFX Teleflex Inc. | Add +2440.9% | 0.09% | +0.08 |
| CMG Chipotle Mexican Grill Inc. | Add +238.6% | 0.12% | +0.08 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +33.7% | 0.34% | +0.08 |
| BWA Borgwarner Inc. | Add +1121.2% | 0.09% | +0.08 |
| RHP Ryman Hospitality Properties | New | 0.08% | +0.08 |
| SNDK Sandisk Corp. | Add +2094.9% | 0.08% | +0.07 |
| UBER Uber Technologies Inc. | Add +1.6% | 0.35% | +0.07 |
| AAPL Apple Inc. | Add +11.6% | 5.16% | +0.07 |
| EA Electronic Arts Inc. | Add +339.7% | 0.09% | +0.07 |
| WSC Willscot Holdings Corp. | New | 0.07% | +0.07 |
| ESI Element Solutions Inc. | New | 0.07% | +0.07 |
| SPG Simon Property Group Inc. | Add +119.0% | 0.13% | +0.07 |
| QFIN Qfin Holdings Inc.-ADR | Add +907.6% | 0.07% | +0.07 |
| FMC FMC Corp. | Add +1121.4% | 0.07% | +0.07 |
| VZ Verizon Communications Inc. | Add +40.1% | 0.17% | +0.06 |
| CARR Carrier Global Corp. | Add +220.6% | 0.09% | +0.06 |
| KTOS Kratos Defense & Security | New | 0.06% | +0.06 |
| CNR Core Natural Resources Inc. | New | 0.06% | +0.06 |
| JNJ Johnson & Johnson | Add +3.4% | 0.33% | +0.06 |
| CVX Chevron Corp. | Add +3.0% | 0.32% | +0.06 |
| SNEX Stonex Group Inc. | Add +146.7% | 0.09% | +0.06 |
| FISV Fiserv Inc. | Add +1.2% | 0.56% | +0.06 |
| MLM Martin Marietta Materials | Add +35.6% | 0.25% | +0.06 |
| FRPT Freshpet Inc. | New | 0.06% | +0.06 |
| TJX TJX Companies Inc. | Add +8.6% | 0.51% | +0.05 |
| MWA Mueller Water Products Inc. Class A | New | 0.05% | +0.05 |
Options Activity Q4 2024 → Q1 2025
| DLTR Dollar Tree Inc. | call | Reduce -20.0% | 1,400,000 | $105.1M |
| NBR Nabors Industries Ltd. | call | Sold out | 4,346 | $248Kbefore exit |
| OABI Omniab Inc. | call | Sold out | 22,296 | $79Kbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026Amended | 1,324 | $38.1B | NVDA, AAPL, MSFT, GOOGL, TSAT |
| Q1 2026 | 1,325 | $32.1B | NVDA, MSFT, AAPL, GOOGL, AMZN |
| Q4 2025 | 1,339 | $29.7B | MSFT, NVDA, GOOGL, AAPL, AMZN |
| Q3 2025 | 1,259 | $27.2B | MSFT, NVDA, AAPL, META, AMZN |
| Q2 2025 | 1,230 | $23.4B | MSFT, NVDA, AAPL, AMZN, AVGO |
| Q1 2025 | 1,236 | $23.1B | MSFT, AAPL, NVDA, AMZN, META |
| Q4 2024 | 1,223 | $23.7B | NVDA, AAPL, MSFT, AMZN, AVGO |
| Q3 2024 | 1,224 | $18.5B | MSFT, AAPL, NVDA, AMZN, LLY |
| Q2 2024 | 1,228 | $15.7B | MSFT, AAPL, NVDA, GOOGL, AVGO |
| Q1 2024 | 1,219 | $13.8B | MSFT, NVDA, AAPL, LLY, AMZN |