CIK: 0000898286
Total reported value
$62.4B
Reporting period: 2026-03-31 · Number of holdings: 684
Caisse de depot et placement du Quebec disclosed 684 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $62.4B and a quarterly turnover rate of 31.8%.
Browse other institutions with $10B to $100B AUMBrowse other institutions starting with "C"
Caisse de depot et placement du Quebec's disclosed holdings carry a Herfindahl concentration index of 0.011 — mathematically equivalent to about 90 equally-sized positions, well below its 684 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 2.58), 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 MSFT
-2.8% -$634.7M
Add CNI
+35.2% $551.1M
Trim GIB
0.0% -$319.5M
Add VTV
+147.2% $307.6M
Trim LRCX
-69.2% -$261.0M
Trim BKNG
-42.0% -$210.1M
Caisse de depot is actively rotating capital from mega-cap growth and defensive assets into industrials, value, and selectively stronger momentum names, signaling a conviction bet on sustained economic expansion and factor-driven alpha extraction rather than fortress-building.
The sale of LQD and GDX alongside additions to CNI and VTV reflects a bet on a regime of rising yields and cyclical recovery, where duration and precious metals are eschewed for industrial and value exposure. The opposing thesis is a recessionary flight to safety that would punish both the growth-to-value rotation and the complete exit from fixed income.
A momentum score of 100.0 on the contrarian scale means this portfolio is fully loaded on the trend-following side, crowded into names like NVDA and AMAT—when the consensus momentum trade unwinds, there is no hedge from bonds or gold to cushion the drawdown.
AI-assisted summary drawn from public regulatory disclosures, covering historical data only. Not a substitute for professional investment advice.
Showing top 200 holdings (of 684 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | AAPL | Apple INC | Stock-Tech | 4.51% | +0.04% | +14.31% | |
| 2 | NVDA | Nvidia CORP | Stock-Tech | 4.41% | +0.16% | +17.40% | |
| 3 | CNI | Canadian Natl Railway Co | Stock-Industrials | 3.09% | +0.76% | +35.19% | |
| 4 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 3.07% | — | +6.75% | |
| 5 | MSFT | Microsoft CORP | Stock-Tech | 2.95% | -1.25% | -2.84% | |
| 6 | AMZN | Amazon.com INC | Stock-Consumer Disc | 1.92% | -0.33% | +0.25% | |
| 7 | GIB | Cgi INC | Stock-Tech | 1.90% | -0.66% | — | |
| 8 | META | Meta Platforms Inc-class A | Stock-Comm Services | 1.86% | — | +22.89% | |
| 9 | BCE | Bce INC | Stock-Comm Services | 1.37% | — | — | |
| 10 | CAE | Cae INC | Stock-Other | 1.29% | -0.31% | — | |
| 11 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 1.26% | — | +10.57% | |
| 12 | TFII | Tfi International INC | Stock-Other | 1.24% | — | +1.00% | |
| 13 | BMO | Bank Of Montreal | Stock-Financials | 1.17% | — | — | |
| 14 | JNJ | Johnson & Johnson | Stock-Healthcare | 1.17% | +0.20% | +7.75% | |
| 15 | MA | Mastercard INC - A | Stock-Financials | 1.16% | — | +5.49% | |
| 16 | JPM | Jpmorgan Chase & Co | Stock-Financials | 1.13% | — | +4.35% | |
| 17 | AVGO | Broadcom INC | Stock-Tech | 1.09% | — | +3.98% | |
| 18 | LLY | Eli Lilly & Co | Stock-Healthcare | 1.01% | — | +7.88% | |
| 19 | GIL | Gildan Activewear INC | Stock-Consumer Disc | 0.93% | +0.27% | +67.33% | |
| 20 | VTV | Vanguard Value ETF | ETF-Other | 0.81% | +0.47% | +147.25% | |
| 21 | COST | Costco Wholesale CORP | Stock-Consumer Staples | 0.80% | +0.21% | +24.53% | |
| 22 | MRK | Merck & Co. INC. | Stock-Healthcare | 0.73% | — | -8.04% | |
| 23 | AMAT | Applied Materials INC | Stock-Tech | 0.69% | +0.32% | +48.89% | |
| 24 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 0.69% | — | +34.86% | |
| 25 | CSCO | Cisco Systems INC | Stock-Tech | 0.69% | +0.23% | +57.38% | |
| 26 | TSLA | Tesla INC | Stock-Consumer Disc | 0.65% | — | +13.54% | |
| 27 | WMT | Walmart INC | Stock-Consumer Staples | 0.65% | — | +10.90% | |
| 28 | T | At&t INC | Stock-Comm Services | 0.60% | +0.17% | +26.89% | |
| 29 | USHY | Ishares Broad Usd High Yield | ETF-High Yield | 0.59% | — | — | |
| 30 | BAC | Bank Of America CORP | Stock-Financials | 0.59% | — | +20.08% | |
| 31 | ABT | Abbott Laboratories | Stock-Healthcare | 0.56% | +0.16% | +82.01% | |
| 32 | ABBV | Abbvie INC | Stock-Healthcare | 0.56% | — | -0.67% | |
| 33 | UNH | Unitedhealth Group INC | Stock-Healthcare | 0.56% | — | +34.04% | |
| 34 | PEP | Pepsico INC | Stock-Consumer Staples | 0.55% | — | -2.85% | |
| 35 | C | Citigroup INC | Stock-Financials | 0.54% | — | +6.27% | |
| 36 | PGR | Progressive CORP | Stock-Financials | 0.52% | — | -0.01% | |
| 37 | NEE | Nextera Energy INC | Stock-Utilities | 0.51% | — | -8.28% | |
| 38 | XLV | Ss Health Care Select Sector | ETF-Other | 0.50% | +0.11% | +45.03% | |
| 39 | TJX | Tjx Companies INC | Stock-Consumer Disc | 0.50% | +0.24% | +94.31% | |
| 40 | HD | Home Depot INC | Stock-Consumer Disc | 0.48% | +0.26% | +145.10% | |
| 41 | RY | Royal Bank Of Canada | Stock-Financials | 0.48% | — | -6.12% | |
| 42 | PG | Procter & Gamble Co/the | Stock-Consumer Staples | 0.46% | — | +12.62% | |
| 43 | CAT | Caterpillar INC | Stock-Industrials | 0.44% | — | -8.50% | |
| 44 | TD | Toronto-dominion Bank | Stock-Financials | 0.44% | — | +30.01% | |
| 45 | PHM | Pultegroup INC | Stock-Consumer Disc | 0.42% | — | +12.97% | |
| 46 | MU | Micron Technology INC | Stock-Tech | 0.42% | — | -20.68% | |
| 47 | TRP | Tc Energy CORP | Stock-Energy | 0.41% | +0.20% | +80.37% | |
| 48 | NFLX | Netflix INC | Stock-Comm Services | 0.41% | — | +8.16% | |
| 49 | HYG | Ishr Ibx Usd Hiyld Cb Etf-ui | ETF-High Yield | 0.41% | -0.28% | -36.71% | |
| 50 | REGN | Regeneron Pharmaceuticals | Stock-Healthcare | 0.41% | — | -3.89% |
Performance for Q3 2026
+4.7%
Performance Last 4 Quarters
+19.2%
Based on 79% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 684 | $62.4B | 32 | |
| 2025-12-31 | 540 | $59.0B | 33 | |
| 2025-09-30 | 539 | $55.5B | 59 | |
| 2025-06-30 | 478 | $46.8B | 0 | |
| 2025-03-31 | 591 | $47.7B | 100 | |
| 2024-12-31 | 516 | $48.1B | 0 | |
| 2024-09-30 | 496 | $50.3B | 0 | |
| 2024-06-30 | 461 | $41.2B | 0 | |
| 2024-03-31 | 481 | $41.6B | 0 | |
| 2023-12-31 | 481 | $39.3B | 0 | |
| 2023-09-30 | 492 | $34.7B | 0 | |
| 2023-06-30 | 477 | $37.6B | 0 | |
| 2023-03-31 | 541 | $35.1B | 0 | |
| 2022-12-31 | 570 | $32.5B | 0 | |
| 2022-09-30 | 548 | $34.4B | 0 | |
| 2022-06-30 | 583 | $36.3B | 0 | |
| 2022-03-31 | 616 | $42.8B | 0 | |
| 2021-12-31 | 570 | $46.2B | 0 | |
| 2021-09-30 | 546 | $47.0B | 0 | |
| 2021-06-30 | 512 | $46.3B | 100 | |
| 2021-03-31 | 681 | $44.4B | 20 | |
| 2020-12-31 | 677 | $43.2B | 29 | |
| 2020-09-30 | 684 | $37.5B | 23 | |
| 2020-06-30 | 685 | $35.5B | 24 | |
| 2020-03-31 | 715 | $31.7B | 36 | |
| 2019-12-31 | 700 | $41.1B | 15 | |
| 2019-09-30 | 820 | $41.0B | 17 | |
| 2019-06-30 | 768 | $40.2B | 20 | |
| 2019-03-31 | 739 | $39.4B | 37 | |
| 2018-12-31 | 735 | $36.6B | 28 | |
| 2018-09-30 | 761 | $43.1B | 18 | |
| 2018-06-30 | 774 | $42.1B | 20 | |
| 2018-03-31 | 731 | $41.3B | 23 | |
| 2017-12-31 | 715 | $43.3B | 18 | |
| 2017-09-30 | 721 | $43.3B | 18 | |
| 2017-06-30 | 713 | $41.0B | 17 | |
| 2017-03-31 | 686 | $40.2B | 19 | |
| 2016-12-31 | 682 | $39.6B | 20 | |
| 2016-09-30 | 689 | $40.3B | 20 | |
| 2016-06-30 | 754 | $38.9B | 22 | |
| 2016-03-31 | 775 | $37.3B | 27 | |
| 2015-12-31 | 668 | $36.2B | 21 | |
| 2015-09-30 | 664 | $36.3B | 22 | |
| 2015-06-30 | 659 | $37.9B | 26 | |
| 2015-03-31 | 645 | $35.9B | 25 | |
| 2014-12-31 | 647 | $37.8B | 20 | |
| 2014-09-30 | 672 | $36.9B | 16 | |
| 2014-06-30 | 656 | $36.4B | 17 | |
| 2014-03-31 | 631 | $33.2B | 20 | |
| 2013-12-31 | 764 | $33.0B | 25 | |
| 2013-09-30 | 782 | $35.2B | 19 | |
| 2013-06-30 | 796 | $34.5B | — |
Caisse de depot et placement du Quebec's most significant position changes for 2026-03-31: Sold out: Vaneck Gold Miners ETF (GDX); Sold out: Ishr Ibx Usd Invgd Cb Etf-ui (LQD); New buy: Ss Financial Select Sector (XLF); New buy: Ss Spdr Bb High Yield Bond (JNK); New buy: Ishares Expanded Tech-softwa (IGV).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | CNI | Canadian Natl Railway Co | +0.8% | +35.19% | Add |
| 2 | VTV | Vanguard Value ETF | +0.5% | +147.25% | Add |
| 3 | AMAT | Applied Materials INC | +0.3% | +48.89% | Add |
| 4 | GIL | Gildan Activewear INC | +0.3% | +67.33% | Add |
| 5 | HD | Home Depot INC | +0.3% | +145.10% | Add |
| 6 | TJX | Tjx Companies INC | +0.2% | +94.31% | Add |
| 7 | CSCO | Cisco Systems INC | +0.2% | +57.38% | Add |
| 8 | COST | Costco Wholesale CORP | +0.2% | +24.53% | Add |
| 9 | ENB | Enbridge INC | +0.2% | +106.04% | Add |
| 10 | JNJ | Johnson & Johnson | +0.2% | +7.75% | Add |
| 11 | TRP | Tc Energy CORP | +0.2% | +80.37% | Add |
| 12 | TXN | Texas Instruments INC | +0.2% | +90.77% | Add |
| 13 | T | At&t INC | +0.2% | +26.89% | Add |
| 14 | NVDA | Nvidia CORP | +0.2% | +17.40% | Add |
| 15 | ABT | Abbott Laboratories | +0.2% | +82.01% | Add |
| 16 | V | Visa Inc-class A Shares | +0.2% | +462.84% | Add |
| 17 | NTR | Nutrien LTD | +0.2% | +86.33% | Add |
| 18 | HAL | Halliburton Co | +0.2% | +37.41% | Add |
| 19 | ADM | Archer-daniels-midland Co | +0.2% | +154.28% | Add |
| 20 | GILD | Gilead Sciences INC | +0.1% | +62.64% | Add |
| 21 | UAL | United Airlines Holdings INC | +0.1% | +956.40% | Add |
| 22 | TMUS | T-mobile US INC | +0.1% | +61.68% | Add |
| 23 | XLV | Ss Health Care Select Sector | +0.1% | +45.03% | Add |
| 24 | AAPL | Apple INC | 0% | +14.31% | Add |
| 25 | PYPL | Paypal Holdings INC | -0.1% | -72.40% | Trim |
| 26 | BRO | Brown & Brown INC | -0.1% | -91.81% | Trim |
| 27 | SLB | Slb LTD | -0.2% | -83.02% | Trim |
| 28 | APP | Applovin Corp-class A | -0.2% | -85.21% | Trim |
| 29 | KR | Kroger Co | -0.2% | -96.38% | Trim |
| 30 | ADBE | Adobe INC | -0.2% | -9.19% | Trim |
| 31 | BDX | Becton Dickinson And Co | -0.2% | -80.54% | Trim |
| 32 | BN | Brookfield CORP | -0.2% | -43.90% | Trim |
| 33 | UBER | Uber Technologies INC | -0.2% | -32.99% | Trim |
| 34 | WFC | Wells Fargo & Co | -0.2% | -25.32% | Trim |
| 35 | XLP | Ss Consumer Staples Sel Sect | -0.2% | -49.66% | Trim |
| 36 | CRM | Salesforce INC | -0.3% | -23.84% | Trim |
| 37 | HYG | Ishr Ibx Usd Hiyld Cb Etf-ui | -0.3% | -36.71% | Trim |
| 38 | CAE | Cae INC | -0.3% | — | Unchanged |
| 39 | AMZN | Amazon.com INC | -0.3% | +0.25% | Add |
| 40 | KLAC | Kla CORP | -0.4% | -79.47% | Trim |
| 41 | BKNG | Booking Holdings INC | -0.4% | -41.99% | Trim |
| 42 | LRCX | Lam Research CORP | -0.5% | -69.17% | Trim |
| 43 | GIB | Cgi INC | -0.7% | — | Unchanged |
| 44 | MSFT | Microsoft CORP | -1.3% | -2.84% | Trim |
| 45 | GDX | Vaneck Gold Miners ETF | — | EXIT | Sold out |
| 46 | LQD | Ishr Ibx Usd Invgd Cb Etf-ui | — | EXIT | Sold out |
| 47 | XLF | Ss Financial Select Sector | — | NEW | New buy |
| 48 | JNK | Ss Spdr Bb High Yield Bond | — | NEW | New buy |
| 49 | IGV | Ishares Expanded Tech-softwa | — | NEW | New buy |
| 50 | RACE | Ferrari N.V. | — | NEW | New buy |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-14 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-17 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-14 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-14 | 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 | 2024-11-14 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-14 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-14 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-14 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-14 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-14 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-12 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-14 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-14 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-12 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-13 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-14 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-11-12 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-08-13 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-05-14 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-02-12 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-11-13 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-08-14 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-05-14 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-02-14 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-11-14 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-08-09 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-05-14 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-02-14 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-11-14 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-08-13 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-05-14 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-02-13 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-11-13 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-08-14 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-05-12 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-02-14 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2016-11-15 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-08-15 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-05-13 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-02-12 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2015-11-13 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2015-08-14 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2015-05-15 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2015-02-17 | 13F-HR | View on EDGAR |
| 2014-09-30 | 2014-11-14 | 13F-HR | View on EDGAR |
| 2014-06-30 | 2014-08-15 | 13F-HR | View on EDGAR |
| 2014-03-31 | 2014-05-15 | 13F-HR | View on EDGAR |
| 2013-12-31 | 2014-02-14 | 13F-HR | View on EDGAR |
| 2013-09-30 | 2013-11-13 | 13F-HR | View on EDGAR |
| 2013-06-30 | 2013-08-13 | 13F-HR | View on EDGAR |
Institutions with a similar AUM
CIK 0001466153
Total reported value
$62.3B
334 stks
2026-03-31
AUM within 0.2% of this institution
CIK 0001535845
Total reported value
$62.2B
1,469 stks
2026-03-31
AUM within 0.4% of this institution
CIK 0000067088
Total reported value
$62.1B
1 stks
2026-03-31
AUM within 0.6% of this institution
Institutions with overlapping top holdings
CIK 0000002230
Total reported value
$2.8B
99 stks
2026-03-31
4 of the top 5 holdings overlap, including Nvidia CORP
CIK 0000007789
Total reported value
$3.8B
332 stks
2026-03-31
4 of the top 5 holdings overlap, including Alphabet Inc-cl A
CIK 0000036066
Total reported value
$1.5B
465 stks
2026-03-31
4 of the top 5 holdings overlap, including Apple INC