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Caisse de dépôt et placement du Québec
Charles Emond · Pension Fund · Multi-Strategy
The Caisse de dépôt et placement du Québec (CDPQ) is a leading global institutional investor founded in 1965 to manage funds for Quebec's public pension and insurance plans. Headquartered in Quebec City, it has grown into one of Canada’s largest pension fund managers, overseeing a highly diversified portfolio of hundreds of billions in assets. CDPQ's primary focus is to generate sustainable long-term returns for its depositors while contributing to the economic development of Quebec. It invests across various asset classes, including public equities, fixed income, private equity, infrastructure, and real estate, maintaining a significant international presence through offices in major financial hubs worldwide. The institution is known for its rigorous risk management and commitment to sustainable investing, particularly in climate-related initiatives.
Simulated Performance
| Metric | Value |
|---|---|
| Total return | +22.7% |
| YTD return | +15.4% |
| Sharpe ratio | 3.19 |
| Win rate | 69% |
| AUM | $25.9B |
| Inception | Oct 1, 2025 |
| Updated | Sep 4, 2026 |
Institution Status
| Field | Value |
|---|---|
| AUM | $25.9B |
| Turnover | Low (<15%) |
| Avg holding | 18 Months |
| Inception | Oct 1, 2025 |
| Website | https://www.lacaisse.com |
Current Holdings
Updated on Sep 4, 2026.
| Ticker | Name | Portfolio % | Return |
|---|---|---|---|
| TSM | Taiwan Semiconductor Manufacturing | 12.2% | +2.7% |
| MSFT | Microsoft Corporation | 12.0% | +0.8% |
| AAPL | Apple Inc | 11.6% | +21.0% |
| NVDA | NVIDIA Corporation | 10.6% | +20.4% |
| GOOGL | Alphabet Inc Class A | 9.0% | +27.5% |
| AMZN | Amazon.com Inc | 5.8% | +13.9% |
| META | Meta Platforms Inc. | 5.4% | -6.8% |
| LLY | Eli Lilly and Company | 3.7% | +21.6% |
| BRK-A | Berkshire Hathaway Inc | 3.5% | +1.5% |
| JPM | JPMorgan Chase & Co | 3.0% | +14.0% |
| MA | Mastercard Inc | 2.9% | +2.6% |
| ASML | ASML Holding NV ADR | 2.6% | +1.1% |
| AVGO | Broadcom Inc | 2.6% | +4.1% |
| MRK | Merck & Company Inc | 2.6% | +13.8% |
| JNJ | Johnson & Johnson | 2.3% | +36.1% |
| AMAT | Applied Materials Inc | 2.2% | -6.1% |
| UNH | UnitedHealth Group Incorporated | 2.1% | +2.2% |
| CSCO | Cisco Systems Inc | 2.0% | +38.3% |
| MU | Micron Technology Inc | 1.9% | +3.4% |
| PGR | Progressive Corp | 1.9% | +0.1% |
Recent activity
| Date | Action | Ticker | Weight |
|---|---|---|---|
| Aug 31, 2026 | SELL | AMZN | 6.2% → 5.8% |
| Aug 31, 2026 | BUY | ASML | 0.0% → 2.6% |
| Aug 31, 2026 | SELL | GOOGL | 11.6% → 9.0% |
| Aug 31, 2026 | BUY | BRK-A | 3.4% → 3.5% |
| Aug 31, 2026 | SELL | MA | 3.4% → 2.9% |
Investment Style Analysis
Caisse de dépôt et placement du Québec is widely recognized for employing a Multi-Strategy strategy. As of Sep 4, 2026, the firm oversees approximately $25.9B in assets under management (AUM). The portfolio demonstrates a clear preference for the Semiconductors and Internet Content & Information sectors, reflecting a high-conviction approach to capital allocation.
Recent Market Moves
During the latest rebalancing period ending Aug 31, Caisse de dépôt et placement du Québec made a significant move by reducing the position in AMZN. This adjustment aligns with the fund's dynamic approach to risk management and capital deployment in current market conditions.
Investment Philosophy
CDPQ's investment philosophy is centered on 'constructive capital,' emphasizing a long-term perspective and a business-owner approach. It seeks to build enduring value by partnering with high-quality companies and management teams to drive growth and operational excellence. The institution integrates environmental, social, and governance (ESG) factors into its decision-making process, viewing sustainable investing as a fundamental driver of long-term performance. Its strategy balances direct investments with strategic partnerships and fund allocations to optimize the risk-return profile across a global and diversified portfolio, aiming to meet the liabilities of its depositors through resilient and sustainable value creation.
Disclaimer
The content provided on this page, including the simulated portfolio performance, holdings analysis, and AI-generated insights, is for informational and educational purposes only. It does not constitute financial advice, investment recommendations, or an offer to buy or sell any securities. All data is derived from historical SEC 13F filings and other public disclosures, which have a reporting lag. The "Simulated Performance" is a hypothetical reconstruction based on past disclosures and does not represent the actual returns of the institution. Past performance is not indicative of future results. Tritonix.ai is not affiliated with Caisse de dépôt et placement du Québec.
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Frequently asked questions
How is the simulated portfolio for Caisse de dépôt et placement du Québec constructed?
This simulation is powered by Tritonix AI using official SEC filings. We focus on the "Best Ideas" by filtering for only the Top 20 largest holdings and rebalancing them to 100%. The simulation tracks performance starting from Oct 1, 2025. Our AI monitors for updates every Monday to capture major shifts. This concentrated approach highlights the manager's true stock-picking skill and mirrors their actual investment returns.
What is Caisse de dépôt et placement du Québec's largest holding?
As of the latest filing, Caisse de dépôt et placement du Québec's top position is Taiwan Semiconductor Manufacturing (TSM), representing 12.2% of the portfolio. This reflects a high-conviction bet by the institution.
What is Caisse de dépôt et placement du Québec's historical performance and risk profile?
Our simulation indicates a total return of +22.7% with a win rate of 69%. Notably, the portfolio maintains a Sharpe Ratio of 3.19, suggesting an exceptional level of risk-adjusted returns compared to the broader market.
What sectors does Caisse de dépôt et placement du Québec primarily invest in?
Caisse de dépôt et placement du Québec has a strong preference for the Semiconductors sector, which makes up 27.4% of their disclosed assets. The portfolio also has exposure to Internet Content & Information, indicating a specific thematic focus.
Is Caisse de dépôt et placement du Québec's portfolio concentrated or diversified?
Caisse de dépôt et placement du Québec runs a moderately concentrated portfolio with 20 disclosed positions. The top 3 holdings alone account for 35.8% of the total portfolio weight, suggesting a strategy that favors broader market exposure.
How has Caisse de dépôt et placement du Québec performed in 2026?
Our AI-simulated model portfolio for Caisse de dépôt et placement du Québec tracks a Year-to-Date (YTD) return of +15.4%. This metric helps investors gauge the institution's effectiveness in the current market environment.
Does Charles Emond manage Caisse de dépôt et placement du Québec directly?
Yes, Charles Emond serves as the key portfolio manager for Caisse de dépôt et placement du Québec, overseeing the investment strategy and final capital allocation decisions.