Our Investments Valued At More Than $150 Million

We annually disclose individual investments that exceed $150 million. Even though $150 million represents less than 0.1% of our total fund, we choose it as a reporting threshold to give plan members and others greater insight into the diversity of our asset base.

As Responsible Investors, we invest broadly by asset type and geographic region in our search to earn the best risk-adjusted returns for plan members.

All data as at December 31, 2017

Fixed Income and Short-Term Investments Over $150 Million

Type Maturity Coupon
(%)
Fair Value
($ millions)
Cost
($ millions)
Government of Canada bonds 2018-2064 0.50-9.00 $ 24,682 $ 23,687
Securities purchased under agreements to resell 2018-2019 -1.00-1.94 24,633 24,792
Provincial bonds 2018-2049 0.00-8.50 10,164 9,662
International corporate bonds 2018-2053 0.00-13.00 6,142 6,300
International sovereign debt 2018-2068 0.00-23.38 5,908 6,106
Canada treasury bills 2018-2018 0.00-0.00 4,265 4,261
Bank notes 2018-2059 0.00-1.30 2,236 2,238
Commercial paper 2018-2018 0.00-1.67 1,312 1,310
Canadian corporate bonds 2018-2040 0.00-14.00 533 516
U.S. treasury bonds 2019-2047 1.25-6.25 (1,158) (318)
Term debt issued 2022-2022 2.13-2.13 (2,167) (2,134)
Commercial paper issued 2018-2018 0.00-1.70 (8,938) (9,014)
Securities sold under agreements to repurchase 2018-2020 -0.92-2.25 (38,842) (39,164)

Real-Return Investments Over $150 Million

Type Maturity Coupon
(%)
Fair Value
($ millions)
Cost
($ millions)
Real-return Canada bonds 2021-2050 0.50-4.25 $ 16,508 $ 13,031
U.S. treasury inflation protection 2018-2047 0.13-3.88 14,138 11,817
Real-return provincial bonds 2021-2036 2.00-4.50 1,920 1,243
Real-return Canada corporate bonds 2021-2039 0.00-5.33 1,062 458

Corporate Shares/Units Over $150 Million

Security Name Shares
(millions)
Fair Value
($ millions)
The Macerich Company 23.3 $1,916.3 
Multiplan Empreendimentos Imobiliarios S.A. 54.8 1,431.4
Alphabet Inc. 0.3  421.1
Samsung Electronics Co., Ltd. 0.1 388.1
Sprint Corporation 46.1 340.1
XPO Logistics, Inc. 2.6 294.0
Hudson's Bay Company 23.0 260.0
Aircastle Limited 7.9 231.1
Tencent Holdings Limited 3.3 216.0
CenturyLink, Inc. 10.1 211.5
Facebook, Inc. 0.9 204.9
TMX Group Limited 2.8 200.3
Lloyds Banking Group plc 163.3 188.4
SiteOne Landscape Supply, Inc. 1.9 179.6
EXOR N.V. 2.3 176.2
Intact Financial Corporation 1.6 170.1
Visa Inc. 1.2 165.3
Daimler AG 1.5 164.2
Citigroup Inc. 1.8 163.6
SoftBank Group Corp. 1.6 156.9
BlackBerry Limited 10.8 151.0
LafargeHolcim Ltd. 2.1 150.8

Real Estate Properties Over $150 Million

Property Total Square Footage
(thousands)
Effective % Ownership

Canadian Regional Shopping Centres
 
Champlain Place, Dieppe 847 100%
Chinook Centre, Calgary 1,412 100%
Fairview Mall, Toronto 875 50%
Fairview Park Mall, Kitchener 838 100%
Fairview Pointe Claire, Montreal 1,172 50%
Le Carrefour Laval, Montreal 1,426 100%
Les Galeries D'Anjou, Montreal 1,305 50%
Les Promenades St. Bruno, Montreal 1,142 100%
Lime Ridge Mall, Hamilton 807 100%
Market Mall, Calgary 926 50%
Markville Shopping Centre, Markham 1,016 100%
Masonville Place, London 651 100%
Pacific Centre, Vancouver 1,070 50%
Polo Park Mall, Winnipeg 1,417 100%
Richmond Centre, Richmond 797 50%
Rideau Centre, Ottawa 1,413 100%
Sherway Gardens, Toronto 1,269 100%
Shops at Don Mills, Toronto 466 100%
Toronto-Dominion Centre, Toronto 158 70%
Toronto Eaton Centre, Toronto 2,924 100%

Canadian Office Properties
   
City Centre Office, Calgary 850 100%
Deloitte Tower, Montreal 515 100%
Granville Square, Vancouver 402 50%
Pacific Centre Office Complex, Vancouver 1,819 50%
RBC Centre, Toronto 1,223 50%
Shell Centre, Calgary 693 100%
Toronto-Dominion Centre Office Complex, Toronto 4,412 70%
Toronto Eaton Centre Office Complex, Toronto 1,845 100%
Waterfront Centre, Vancouver 401 50%
Yonge Corporate Centre, Toronto 668 100%

Private Companies and Partnerships Over $150 Million

  • 24 Hour Fitness Worldwide Inc.
  • Actera Partners II L.P.
  • AEA Investors Fund V LP
  • Aethon Energy Management LLC
  • Apollo Overseas Partners (Delaware 892) VIII, L.P.
  • Apollo Special Situations Fund, L.P.
  • AQR Offshore Multi-Strategy Fund VII Ltd.
  • Ares Corporate Opportunities Fund III, L.P.
  • Ares Corporate Opportunities Fund IV, L.P.
  • Aroona Farms SA Pty Ltd.
  • Arterra Wines Canada, Inc.
  • Asia Opportunity Fund III, L.P.
  • Automobile Protection Corporation
  • Autopista Arco Norte, S.A. de CV
  • Baldr Fund Inc.
  • BaseCore Metals LP
  • Baybridge Seniors Housing Inc.
  • BDCM Offshore Opportunity Fund II, Ltd.
  • Birmingham International Airport
  • BluEarth Renewables Inc.
  • Bristol Airport Limited
  • BroadStreet Capital Partners, Inc.
  • Busy Bees Benefits Holdings Limited
  • Camelot Group plc
  • Canada Guaranty Mortgage Insurance Company
  • Canbriam Energy, Inc.
  • Catalina Holdings (Bermuda) Ltd.
  • Catterton Partners VII, L.P.
  • CIBanco, S.A. CIB/477
  • Copenhagen Airport A/S
  • Coway Holdings, Inc.
  • CPG International Inc.
  • CSC ServiceWorks Holdings, Inc.
  • Cubico Sustainable Investments Limited
  • DaVinciRe Holdings Ltd.
  • DTZ Jersey Holdings Ltd.
  • EdgeMarc Energy Holdings, LLC
  • Empresa de Servicios Sanitarios del Bio-Bio S.A.
  • Esval S.A.
  • Euclid Fund
  • EWP PA Fund, Ltd.
  • Exal International Limited
  • FAPS Holdings, Inc.
  • Fifth Cinven Fund (No.6) Limited Partnership
  • Flexera Holdings, L.P.
  • Flynn Restaurant Group LLC
  • FMAP CIM Limited
  • FMAP PCM Limited
  • FMAP WMC Limited
  • Fondo de Capital Privado Terranum
  • FountainVest China Growth Fund II, L.P.
  • FountainVest China Growth Fund, L.P.
  • GCT Global Container Terminals Inc.
  • Hancock Timber Resource Group
  • Hawkwood Energy, LLC
  • Heartland Dental Care, Inc.
  • Helly Hansen Group AS
  • Heritage Royalty Limited Partnership
  • Hudson Catastrophe Fund, Ltd.
  • Imperial Parking Corporation
  • Infiltrator Systems, Inc.
  • Intercos S.p.A.
  • InterGen N.V.
  • Irish National Lottery
  • Kedaara Capital I Limited
  • Koole Tankstorage Zaandam B.V.
  • Kyobo Life Insurance Co., Ltd.
  • LMAP 903 Limited
  • LMAP 904 Limited
  • LMAP 909
  • LMAP 910
  • LMAP Chi Limited
  • London City Airport
  • Lowell Group Limited
  • MBK Partners III, L.P.
  • Mémora Servicios Funerarios, S.L.U.
  • Metronode Group Pty Ltd
  • MR Argent Offshore Fund AB L.P.
  • MSB Capital Limited
  • Munchkin, Inc.
  • Nuevosur, S.A.
  • NXT Capital Holdings, L.P.
  • OGF SA
  • OLE Media Management L.P.
  • Orbis Institutional Global Equity L.P.
  • Outdoor Holdings, LLC
  • PAG Asia I LP
  • PAG Asia II LP
  • Pershing Square VI International, L.P.
  • PetVet Care Centers, Inc.
  • Phynet Dermatology LLC
  • Polar Multi-Strategy Fund (Legacy)
  • Providence Equity Partners VI L.P.
  • Providence Equity Partners VII-A L.P.
  • Pure International Holdings (BVI) Limited
  • Quinte Limited
  • RedBird Capital Partners Platform L.P.
  • Resource Management Service Inc.
  • Riverbed Technology, Inc.
  • SCI PH Inc.
  • Scotia Gas Networks plc
  • SeaCube Container Leasing Ltd.
  • Serta Simmons Holdings, LLC
  • Shearer's Foods, Inc.
  • Silver Lake Partners IV, L.P.
  • Skyway Concession Company LLC
  • Sociedad Austral de Electricidad S.A.
  • Solus Offshore Opportunities Fund 5 L.P.
  • Storapod Holding Company, Inc.
  • Sydney Desalination Plant Pty Limited
  • Synlab Limited
  • TDR Capital II 'B' L.P.
  • The Brussels Airport Company
  • Thoma Bravo Fund XI-A, L.P.
  • Thoma Bravo Fund XII-A, L.P.
  • TierPoint, LLC
  • TP Partners Fund, L.P.
  • TPG Asia VI, L.P.
  • Traeger Pellet Grills Holdings LLC
  • Trian Partners Co-Investment Opportunities Fund, L.P.
  • Trian Partners, Ltd.
  • Univision Communications Inc.
  • ValueAct Capital International Fund A, L.P.
  • ValueAct Capital International III, L.P.
  • Westerleigh Group Holdings Limited