CDPQ (Caisse de Depot) Portfolio
CDPQ (Caisse de Depot) 13F filer (CIK 0000898286).
Q2 2025 · 478 positions · Total reported value $46.84B · Top-10 concentration 30.1%
Turnover: 60.3% · 110 new · 277 cut · 92 exited
Active Share (vs S&P 500): 47.5% · vs QQQ: 66.0% — share of the book that differs from index weights (higher = more active) · ranking
In its Q2 2025 13F filing, CDPQ (Caisse de Depot) disclosed 478 equity positions with a combined reported value of $46.84B. The filing implies a moderately concentrated portfolio: its ten largest positions account for 30.1% of reported value. HoldingsHub classifies the profile as Large / High Turnover.
The largest disclosed positions as of Q2 2025 were MSFT ($2.22B), NVDA ($2.22B), AAPL ($1.84B). By sector, the heaviest allocations are Technology 29.2%, Consumer Discretionary 18.9%. Versus the prior quarter, allocation shifted toward Technology (+5.0pp), Industrials (+1.0pp) and away from Other (-2.0pp), Health Care (-2.1pp).
Versus the prior quarter, CDPQ (Caisse de Depot) opened 110 new positions, trimmed 277 and fully exited 92, a turnover rate of 60.3% of positions. The portfolio's overlap with the prior quarter was 66% of names.
Figures come from the fund's SEC Form 13F filing. 13F reports are filed within 45 days of quarter end and cover long positions of $100,000 or more; they exclude short positions and non-13F asset classes, so treat this page as a quarter-end snapshot rather than the fund's live book.
Sector Allocation
| # | Symbol | Company | Shares | Value | Weight | Change |
|---|---|---|---|---|---|---|
| 1 | MSFT | MICROSOFT CORP | 4.47M | $2.22B | 4.75% | Add |
| 2 | NVDA | NVIDIA CORPORATION | 14.03M | $2.22B | 4.73% | Add |
| 3 | AAPL | APPLE INC | 8.99M | $1.84B | 3.94% | Add |
| 4 | GIB | CGI INC | 16.29M | $1.71B | 3.65% | Hold |
| 5 | CNI | CANADIAN NATL RY CO | 13.74M | $1.43B | 3.05% | Add |
| 6 | META | META PLATFORMS INC. CLASS A | 1.50M | $1.11B | 2.37% | Reduce |
| 7 | GOOGL | ALPHABET INC | 5.51M | $970.52M | 2.07% | Add |
| 8 | AMZN | AMAZON COM INC | 4.32M | $947.48M | 2.02% | Reduce |
| 9 | CAE | CAE INC | 30.92M | $904.30M | 1.93% | Hold |
| 10 | MA | MASTERCARD INCORPORATED | 1.34M | $753.93M | 1.61% | Add |
| 11 | BCE | BCE INC | 31.08M | $687.95M | 1.47% | Add |
| 12 | BRKB | BERKSHIRE HATHAWAY INC DEL | 1.36M | $662.60M | 1.42% | Reduce |
| 13 | BMO | BANK MONTREAL MEDIUM | 5.42M | $599.39M | 1.28% | Hold |
| 14 | AVGO | BROADCOM INC | 2.13M | $586.23M | 1.25% | Reduce |
| 15 | CSCO | CISCO SYS INC | 7.61M | $528.33M | 1.13% | Add |
| 16 | XLV | SELECT SECTOR SPDR TR | 3.86M | $520.08M | 1.11% | Add |
| 17 | JPM | JPMORGAN CHASE & CO | 1.77M | $512.09M | 1.09% | Reduce |
| 18 | JNJ | JOHNSON & JOHNSON | 3.27M | $499.91M | 1.07% | Reduce |
| 19 | NFLX | NETFLIX INC. | 333.76K | $446.94M | 0.95% | Reduce |
| 20 | LLY | ELI LILLY & CO | 546.41K | $425.94M | 0.91% | Reduce |
| 21 | PG | PROCTER & GAMBLE CO | 2.57M | $408.75M | 0.87% | Reduce |
| 22 | TFII | TFI INTERNATIONAL INC | 4.06M | $363.67M | 0.78% | Add |
| 23 | COST | COSTCO WHOLESALE CORPORATION | 366.05K | $362.36M | 0.77% | Reduce |
| 24 | MRK | MERCK & CO INC | 4.42M | $349.90M | 0.75% | Add |
| 25 | PGR | PROGRESSIVE CORP | 1.15M | $306.67M | 0.66% | Reduce |
| 26 | BKNG | BOOKING HOLDINGS INC. | 50.36K | $291.54M | 0.62% | Add |
| 27 | GOOG | ALPHABET INC | 1.63M | $289.67M | 0.62% | Reduce |
| 28 | LSPD | LIGHTSPEED COMMERCE INC | 24.29M | $284.42M | 0.61% | Hold |
| 29 | T | AT&T INC | 9.74M | $281.77M | 0.60% | Reduce |
| 30 | COR | CENCORA INC | 918.47K | $275.40M | 0.59% | Add |
| 31 | BRO | BROWN & BROWN INC | 2.44M | $270.34M | 0.58% | Add |
| 32 | DUK | DUKE ENERGY CORP NEW | 2.19M | $258.85M | 0.55% | Add |
| 33 | RY | ROYAL BK CDA | 1.94M | $255.02M | 0.54% | Reduce |
| 34 | WFC | WELLS FARGO & CO | 3.04M | $243.27M | 0.52% | Reduce |
| 35 | GE | GE AEROSPACE | 931.57K | $239.78M | 0.51% | Add |
| 36 | CRM | SALESFORCE INC | 857.03K | $233.70M | 0.50% | Reduce |
| 37 | ADBE | ADOBE INC | 598.50K | $231.55M | 0.49% | Add |
| 38 | TSLA | TESLA INC | 725.98K | $230.61M | 0.49% | Reduce |
| 39 | ABBV | ABBVIE INC | 1.23M | $228.89M | 0.49% | Reduce |
| 40 | PHM | PULTE GROUP INC | 2.13M | $224.37M | 0.48% | Add |
| 41 | RSG | REPUBLIC SVCS INC | 889.66K | $219.40M | 0.47% | Reduce |
| 42 | BAC | BANK OF AMER CORP | 4.61M | $218.33M | 0.47% | Add |
| 43 | UNH | UNITEDHEALTH GROUP INCORPORATED | 647.97K | $202.15M | 0.43% | Reduce |
| 44 | WMT | WALMART INC | 2.05M | $200.63M | 0.43% | Reduce |
| 45 | ROP | ROPER TECHNOLOGIES INC | 352.17K | $199.62M | 0.43% | Reduce |
| 46 | EME | EMCOR GROUP INC | 336.08K | $179.77M | 0.38% | Hold |
| 47 | CTAS | CINTAS CORP | 801.26K | $178.58M | 0.38% | Reduce |
| 48 | UBER | UBER TECHNOLOGIES INC | 1.90M | $177.14M | 0.38% | Reduce |
| 49 | ANET | ARISTA NETWORKS INC | 1.73M | $177.10M | 0.38% | Add |
| 50 | ISRG | INTUITIVE SURGICAL INC | 322.54K | $175.27M | 0.37% | Reduce |