CIK: 0001535845
Total reported value
$62.2B
Reporting period: 2026-03-31 · Number of holdings: 1469
HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND disclosed 1469 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $62.2B and a quarterly turnover rate of 55.1%.
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Healthcare Of Ontario Pension Plan Trust Fund's disclosed holdings carry a Herfindahl concentration index of 0.013 — mathematically equivalent to about 79 equally-sized positions, well below its 1469 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 4.17), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Trim SPY
-32.7% -$1.0B
Add CNQ
+10.0% $672.8M
Trim TD
-45.6% -$517.6M
Trim AVGO
-26.6% -$490.1M
Add HYG
+213.5% $512.3M
Add WMT
+588.5% $510.5M
Healthcare of Ontario Pension Plan is rotating capital out of core equity beta (SPY trimmed 190bps) into a hybrid defense that picks up credit yield via HYG, commodity exposure via CNQ, and defensive stability via WMT. This is not an alpha hunt—it is a tactical shift to safe-haven flows and commodity exposure, telegraphing a regime where equity risk premia are no longer priced to perfection.
The rotation into fixed-rate high-yield (HYG) and energy (CNQ) away from floating-rate credit (BKLN) and equity beta (SPY) prices a regime where rates ease modestly, credit holds, and commodity supply constraints persist. The opposing thesis is a 'no landing' economy where Fed cuts are reversed, punishing both HYG (spread widening) and energy (demand destruction) in a concurrent selloff that the trimmed equity beta cannot buffer.
Healthcare of Ontario's credit swap from BKLN to HYG loads the portfolio with concentrated duration exposure exactly when the market is crowded into high-yield. If inflation proves stickier than discounted, HYG's price depreciation will outrun carry, and the trimmed bank loan position would have been the correct vehicle. This structural duration mismatch is the fund's largest asymmetric bet.
Sourced and summarized by AI from public SEC filings, limited to historical activity. Not investment guidance.
Showing top 200 holdings (of 1469 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | NVDA | Nvidia CORP | Stock-Tech | 5.29% | — | +3.78% | |
| 2 | JPM | Jpmorgan Chase & Co | Stock-Financials | 3.28% | +0.43% | +31.47% | |
| 3 | AAPL | Apple INC | Stock-Tech | 3.12% | — | +15.51% | |
| 4 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 3.02% | -1.88% | -32.69% | |
| 5 | QQQ | Invesco Qqq Trust Series 1 | ETF-Tech | 2.99% | — | +6.61% | |
| 6 | CNQ | Canadian Natural Resources | Stock-Energy | 2.94% | +1.01% | +9.97% | |
| 7 | IVV | Ishares Core S&p 500 ETF | ETF-Large Cap & Growth | 2.78% | — | -0.09% | |
| 8 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 2.10% | — | +3.96% | |
| 9 | XBI | Ss Spdr S&p Biotech ETF | ETF-Tech | 2.00% | -0.57% | -22.61% | |
| 10 | IWM | Ishares Russell 2000 ETF | ETF-Small Cap | 1.89% | — | -4.04% | |
| 11 | META | Meta Platforms Inc-class A | Stock-Comm Services | 1.75% | +0.35% | +49.64% | |
| 12 | MSFT | Microsoft CORP | Stock-Tech | 1.62% | — | +30.98% | |
| 13 | AVGO | Broadcom INC | Stock-Tech | 1.50% | -0.88% | -26.62% | |
| 14 | HYG | Ishr Ibx Usd Hiyld Cb Etf-ui | ETF-High Yield | 1.22% | +0.81% | +213.50% | |
| 15 | TSLA | Tesla INC | Stock-Consumer Disc | 1.11% | +0.21% | +55.32% | |
| 16 | TD | Toronto-dominion Bank | Stock-Financials | 0.97% | -0.91% | -45.63% | |
| 17 | RY | Royal Bank Of Canada | Stock-Financials | 0.97% | — | +25.86% | |
| 18 | WMT | Walmart INC | Stock-Consumer Staples | 0.94% | +0.81% | +588.55% | |
| 19 | XRT | Ss Spdr S&p Retail ETF | ETF-Other | 0.93% | -0.66% | -35.07% | |
| 20 | BAC | Bank Of America CORP | Stock-Financials | 0.92% | +0.26% | +63.23% | |
| 21 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 0.91% | — | +23.94% | |
| 22 | SU | Suncor Energy INC | Stock-Energy | 0.82% | +0.65% | +238.92% | |
| 23 | KRE | Ss Spdr S&p Regional Bank | ETF-Other | 0.79% | — | -16.18% | |
| 24 | BMO | Bank Of Montreal | Stock-Financials | 0.76% | — | +6.98% | |
| 25 | ABBV | Abbvie INC | Stock-Healthcare | 0.73% | +0.64% | +749.02% | |
| 26 | COST | Costco Wholesale CORP | Stock-Consumer Staples | 0.71% | +0.35% | +80.47% | |
| 27 | MA | Mastercard INC - A | Stock-Financials | 0.69% | +0.26% | +90.39% | |
| 28 | XLI | Ss Industrial Select Sector | ETF-Other | 0.66% | -0.39% | -36.62% | |
| 29 | MFC | Manulife Financial CORP | Stock-Financials | 0.65% | +0.40% | +183.72% | |
| 30 | BNS | Bank Of Nova Scotia | Stock-Financials | 0.62% | -0.55% | -41.37% | |
| 31 | MU | Micron Technology INC | Stock-Tech | 0.62% | — | -24.44% | |
| 32 | AXP | American Express Co | Stock-Financials | 0.60% | +0.43% | +350.04% | |
| 33 | CSCO | Cisco Systems INC | Stock-Tech | 0.58% | — | +60.04% | |
| 34 | TRP | Tc Energy CORP | Stock-Energy | 0.57% | -0.31% | -40.97% | |
| 35 | VZ | Verizon Communications INC | Stock-Comm Services | 0.57% | +0.30% | +78.06% | |
| 36 | AMZN | Amazon.com INC | Stock-Consumer Disc | 0.55% | — | +3.08% | |
| 37 | RSP | Invesco S&p 500 Equal Weight | ETF-Large Cap & Growth | 0.54% | — | -28.86% | |
| 38 | CMCSA | Comcast Corp-class A | Stock-Comm Services | 0.54% | +0.48% | +824.37% | |
| 39 | CM | Can Imperial Bk Of Commerce | Stock-Financials | 0.52% | -0.76% | -59.88% | |
| 40 | KLAC | Kla CORP | Stock-Tech | 0.50% | +0.40% | +313.82% | |
| 41 | ADI | Analog Devices INC | Stock-Tech | 0.49% | — | +44.92% | |
| 42 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.48% | — | +29.70% | |
| 43 | BKNG | Booking Holdings INC | Stock-Consumer Disc | 0.46% | +0.36% | +510.26% | |
| 44 | UBER | Uber Technologies INC | Stock-Industrials | 0.44% | +0.43% | +4531.45% | |
| 45 | XOP | Ss Spdr S&p Og Exp & Prod | ETF-Other | 0.44% | — | -51.61% | |
| 46 | LIN | Linde plc | Stock-Materials | 0.43% | — | +40.18% | |
| 47 | SCHW | Schwab (charles) CORP | Stock-Financials | 0.42% | — | +63.42% | |
| 48 | MS | Morgan Stanley | Stock-Financials | 0.41% | — | +54.84% | |
| 49 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 0.41% | — | -4.19% | |
| 50 | COP | Conocophillips | Stock-Energy | 0.40% | +0.39% | +3775.82% |
Performance for Q3 2026
+5%
Performance Last 4 Quarters
+29.4%
Based on 79% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 1469 | $62.2B | 55 | |
| 2025-12-31 | 1367 | $59.8B | 41 | |
| 2025-09-30 | 1167 | $55.2B | 58 | |
| 2025-06-30 | 1086 | $51.4B | 0 | |
| 2025-03-31 | 1096 | $46.9B | 100 | |
| 2024-12-31 | 964 | $47.5B | 0 | |
| 2024-09-30 | 978 | $42.2B | 0 | |
| 2024-06-30 | 968 | $34.9B | 0 | |
| 2024-03-31 | 910 | $29.7B | 0 | |
| 2023-12-31 | 980 | $29.3B | 0 | |
| 2023-09-30 | 982 | $22.7B | 0 | |
| 2023-06-30 | 1152 | $22.9B | 0 | |
| 2023-03-31 | 1218 | $18.4B | 0 | |
| 2022-12-31 | 1387 | $20.4B | 0 | |
| 2022-09-30 | 1514 | $20.5B | 0 | |
| 2022-06-30 | 1575 | $22.6B | 0 | |
| 2022-03-31 | 1702 | $28.9B | 0 | |
| 2021-12-31 | 1706 | $47.2B | 0 | |
| 2021-09-30 | 1695 | $40.8B | 0 | |
| 2021-06-30 | 1808 | $45.7B | 94 | |
| 2021-03-31 | 1519 | $40.6B | 72 | |
| 2020-12-31 | 1463 | $37.6B | 100 | |
| 2020-09-30 | 1036 | $13.3B | 67 | |
| 2020-06-30 | 818 | $12.5B | 89 | |
| 2020-03-31 | 801 | $9.3B | 100 | |
| 2019-12-31 | 988 | $23.3B | 0 |
Healthcare Of Ontario Pension Plan Trust Fund's most significant position changes for 2026-03-31: Sold out: Invesco Senior Loan ETF (BKLN); Sold out: Ss Blackstone Sr Loan ETF (SRLN); Sold out: Ss Consumer Disc Select Sect (XLY); New buy: Ss Technology Select Sector (XLK); Trim: Ss Spdr S&p 500 ETF Trust-us (SPY) — shares -32.69%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | CNQ | Canadian Natural Resources | +1% | +9.97% | Add |
| 2 | HYG | Ishr Ibx Usd Hiyld Cb Etf-ui | +0.8% | +213.50% | Add |
| 3 | WMT | Walmart INC | +0.8% | +588.55% | Add |
| 4 | SU | Suncor Energy INC | +0.7% | +238.92% | Add |
| 5 | ABBV | Abbvie INC | +0.6% | +749.02% | Add |
| 6 | CMCSA | Comcast Corp-class A | +0.5% | +824.37% | Add |
| 7 | JPM | Jpmorgan Chase & Co | +0.4% | +31.47% | Add |
| 8 | AXP | American Express Co | +0.4% | +350.04% | Add |
| 9 | UBER | Uber Technologies INC | +0.4% | +4531.45% | Add |
| 10 | MFC | Manulife Financial CORP | +0.4% | +183.72% | Add |
| 11 | KLAC | Kla CORP | +0.4% | +313.82% | Add |
| 12 | COP | Conocophillips | +0.4% | +3775.82% | Add |
| 13 | T | At&t INC | +0.4% | +1839.46% | Add |
| 14 | BKNG | Booking Holdings INC | +0.4% | +510.26% | Add |
| 15 | META | Meta Platforms Inc-class A | +0.4% | +49.64% | Add |
| 16 | COST | Costco Wholesale CORP | +0.4% | +80.47% | Add |
| 17 | NEM | Newmont CORP | +0.3% | +1247.14% | Add |
| 18 | VZ | Verizon Communications INC | +0.3% | +78.06% | Add |
| 19 | WDC 3 11-15-28 | Western Digital CORP | +0.3% | +220.00% | Add |
| 20 | MCK | Mckesson CORP | +0.3% | +4300.35% | Add |
| 21 | HCA | Hca Healthcare INC | +0.3% | +5941.07% | Add |
| 22 | WELL | Welltower INC | +0.3% | +3305.05% | Add |
| 23 | CEG | Constellation Energy | +0.3% | +611.71% | Add |
| 24 | BAC | Bank Of America CORP | +0.3% | +63.23% | Add |
| 25 | MA | Mastercard INC - A | +0.3% | +90.39% | Add |
| 26 | CL | Colgate-palmolive Co | +0.3% | +5949.36% | Add |
| 27 | HAL | Halliburton Co | +0.3% | +12413.18% | Add |
| 28 | MDLN | Medline Inc-cl A | +0.3% | +233.33% | Add |
| 29 | ENB | Enbridge INC | +0.3% | +787.78% | Add |
| 30 | TSLA | Tesla INC | +0.2% | +55.32% | Add |
| 31 | PGR | Progressive CORP | -0.2% | -84.36% | Trim |
| 32 | GS | Goldman Sachs Group INC | -0.3% | -47.55% | Trim |
| 33 | IWB | Ishares Russell 1000 ETF | -0.3% | -89.98% | Trim |
| 34 | SOXX | Ishares Semiconductor ETF | -0.3% | -50.00% | Trim |
| 35 | TRP | Tc Energy CORP | -0.3% | -40.97% | Trim |
| 36 | BP | Bp Plc-spons Adr | -0.3% | -98.55% | Trim |
| 37 | XLP | Ss Consumer Staples Sel Sect | -0.4% | -59.04% | Trim |
| 38 | XLI | Ss Industrial Select Sector | -0.4% | -36.62% | Trim |
| 39 | CVE | Cenovus Energy INC | -0.4% | -96.63% | Trim |
| 40 | BNS | Bank Of Nova Scotia | -0.6% | -41.37% | Trim |
| 41 | XBI | Ss Spdr S&p Biotech ETF | -0.6% | -22.61% | Trim |
| 42 | XRT | Ss Spdr S&p Retail ETF | -0.7% | -35.07% | Trim |
| 43 | CM | Can Imperial Bk Of Commerce | -0.8% | -59.88% | Trim |
| 44 | AVGO | Broadcom INC | -0.9% | -26.62% | Trim |
| 45 | TD | Toronto-dominion Bank | -0.9% | -45.63% | Trim |
| 46 | SPY | Ss Spdr S&p 500 ETF Trust-us | -1.9% | -32.69% | Trim |
| 47 | BKLN | Invesco Senior Loan ETF | — | EXIT | Sold out |
| 48 | SRLN | Ss Blackstone Sr Loan ETF | — | EXIT | Sold out |
| 49 | XLY | Ss Consumer Disc Select Sect | — | EXIT | Sold out |
| 50 | XLK | Ss Technology Select Sector | — | NEW | New buy |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-14 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-13 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-13 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-13 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-14 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-14 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-13 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-09-20 | Amendment | View on EDGAR |
| 2024-06-30 | 2024-08-14 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-13 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-03-21 | Amendment | View on EDGAR |
| 2023-12-31 | 2024-02-14 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-13 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-11 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-12 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-13 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-14 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-11 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-12 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-11 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-11-10 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-08-12 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-05-13 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-03-01 | Amendment | View on EDGAR |
| 2020-12-31 | 2021-02-12 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2021-03-01 | Amendment | View on EDGAR |
| 2020-09-30 | 2020-11-12 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2021-03-01 | Amendment | View on EDGAR |
| 2020-06-30 | 2020-08-11 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-05-13 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-02-12 | 13F-HR | View on EDGAR |
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