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, 2016

Fixed Income and Short-term Investments Over $150 Million

Type Maturity Coupon
(%)
Fair Value
($ millions)
Cost
($ millions)
Government of Canada bonds 2017-2064 0.00-9.00 $ 29,756 $ 28,454
Securities purchased under agreements to resell 2017-2017 -1.50-1.25 27,910 27,621
Provincial bonds 2018-2048 1.20-8.50 8,307 8,043
International corporate bonds 2017-2053 0.00-13.00 7,047 7,023
Canada treasury bills 2017-2017 0.00-0.00 4,606 4,604
Bank notes 2017-2017 0.00-0.55 3,420 3,408
International sovereign debt 2018-2060 0.00-26.38 2,655 2,909
Commercial paper 2017-2017 0.00-0.00 1,405 1,402
Canadian corporate bonds 2017-2043 0.00-14.00 956 950
International agency bonds 2017-2024 3.13-8.25 376 375
Commercial paper issued 2017-2017 0.00-1.40 (9,120) (8,935)
U.S. treasury bonds 2017-2046 0.63-6.25 (10,084) (8,559)
Securities sold under agreements to repurchase 2017-2017 -0.40-2.10 (47,422) (47,131)

Real-Return Investments Over $150 Million

Type Maturity Coupon
(%)
Fair Value
($ millions)
Cost
($ millions)
Real-return Canada bonds 2021-2047 1.25-4.25 $ 16,686 $ 12,966
U.S. treasury inflation protection 2017-2044 0.13-3.88 10,153 6,976
Real-return provincial bonds 2021-2036 2.00-4.50 1,925 1,243
Real-return Canadian corporate bonds 2021-2046 0.00-5.33 1,675 700

Corporate Shares/Units Over $150 Million

Security Name Shares
(millions)
Fair Value
($ millions)
The Macerich Company 23.3 $2,212.2 
iShares MSCI Emerging Markets Index 37.5  1,755.4 
Multiplan Empreendimentos Imobiliarios S.A. 54.8 1,302.5
Samsung Electronics Co., Ltd. 0.2 468.8
Sprint Corporation 34.7 392.2
Alphabet Inc. 0.3  343.4
Hudson's Bay Company 23.0 304.8
JPMorgan Chase & Co.* 2.4  273.0
American International Group, Inc. 3.1 272.3
Level 3 Communications, Inc. 3.1 236.0
Microsoft Corporation 2.7 226.4
General Motors Company 4.8 225.2
Aircastle Limited 7.9 220.5
SoftBank Group Corp. 2.4 209.9
Nissan Shatai Co., Ltd. 15.7 205.6
TMX Group Limited 2.8 203.4
FedEx Corp. 0.8 194.8
LafargeHolcim Ltd. 2.7 189.3
Athene Holding Ltd. 3.2 185.1
XPO Logistics, Inc. 3.2 183.7
Tencent Holdings Limited 5.4 176.0
Sony Corporation 4.7  175.7 
EXOR N.V. 3.0 171.1
Daimler AG 1.7 166.7
Comcast Corporation 1.7  162.4 
Chubb Limited 0.9 160.8
Citigroup Inc. 2.0 159.5
Nokia Corporation 24.3 157.7
Facebook, Inc. 1.0 156.9
Lloyds Banking Group plc 150.8 156.2
Wells Fargo & Company* 2.6 153.2
Nestlé S.A. 1.6  153.0

*Includes fair market value of warrants.

Real Estate Properties Over $150 Million

Property Total Square Footage
(thousands)
Effective % Ownership

Canadian Regional Shopping Centres
 
Champlain Place, Dieppe 850 100%
Chinook Centre, Calgary 1,419 100%
Fairview Mall, Toronto 875 50%
Fairview Park Mall, Kitchener 747 100%
Fairview Pointe Claire, Montreal 1,045 50%
Le Carrefour Laval, Montreal 1,435 100%
Les Galeries D'Anjou, Montreal 1,351 50%
Les Promenades St. Bruno, Montreal 1,132 100%
Lime Ridge Mall, Hamilton 806 100%
Market Mall, Calgary 934 50%
Markville Shopping Centre, Markham 1,017 100%
Masonville Place, London 637 100%
Pacific Centre, Vancouver 1,070 100%
Polo Park Mall, Winnipeg 1,199 100%
Richmond Centre, Richmond 795 50%
Rideau Centre, Ottawa 1,403 100%
Sherway Gardens, Toronto 1,263 100%
Shops at Don Mills, Toronto 468 100%
The Promenade, Toronto  706 100%
Toronto-Dominion Centre, Toronto 158 70%
Toronto Eaton Centre, Toronto 2,903 100%

Canadian Office Properties
   
City Centre Office, Calgary 853 100%
Deloitte Tower, Montreal 515 100%
Granville Square, Vancouver 403 100%
HSBC Building, Vancouver 395 100%
Pacific Centre Office Complex, Vancouver 1,820 100%
PricewaterhouseCoopers Place, Vancouver 241 100%
RBC Centre, Toronto 1,223 50%
Shell Centre, Calgary 693 100%
Toronto-Dominion Centre Office Complex, Toronto 4,425 70%
Toronto Eaton Centre Office Complex, Toronto 1,845 100%
Waterfront Centre, Vancouver 402 100%
Yonge Corporate Centre, Toronto 668 100%

Private Companies and Partnerships Over $150 Million

  • 24 Hour Fitness Worldwide Inc.
  • AEA Investors Fund V LP
  • Aethon Energy Management LLC
  • Alliance Laundry Systems, LLC
  • Apollo Overseas Partners (Delaware 892) VI, L.P.
  • 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
  • Ascend Learning Holdings, LLC
  • Asia Opportunity Fund III, L.P.
  • Automobile Protection Corporation
  • Autopista Arco Norte, S.A. de CV
  • Baldr Fund Inc.
  • Baybridge Seniors Housing Inc.
  • BDCM Offshore Opportunity Fund II, Ltd.
  • Birmingham International Airport
  • BluEarth Renewables Inc.
  • Bridgewater Pure Alpha Fund II Ltd.
  • 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.
  • Cerberus OT Partners, L.P.
  • Constellation Brands Canada, Inc.
  • 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
  • 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
  • FountainVest China Growth Fund II, L.P.
  • FountainVest China Growth Fund, L.P.
  • GCT Global Container Terminals Inc.
  • Hancock Timber Resource Group
  • HayFin Topaz L.P.
  • Heartland Dental Care, Inc.
  • Helly Hansen Group AS
  • Heritage Royalty Limited Partnership
  • HS1 Limited
  • Hudson Catastrophe Fund, Ltd.
  • Imperial Parking Corporation
  • Infiltrator Systems, Inc.
  • InterGen N.V.
  • Irish National Lottery
  • Kepos Alpha Fund Ltd.
  • Koole Tankstorage Zaandam B.V.
  • Kyobo Life Insurance Co., Ltd.
  • Lancaster Aircraft Leasing Limited Partnership
  • LMAP 902 Limited
  • LMAP 903 Limited
  • LMAP 904 Limited
  • LMAP 909
  • LMAP Chi Limited
  • London City Airport
  • Lowell Group Limited
  • MBK Partners Fund II, L.P.
  • MBK Partners III, L.P.
  • MR Argent Offshore Fund AB L.P.
  • MSB Capital Limited
  • Munchkin, Inc.
  • Nextgen Group Holdings Pty Limited
  • Nuevosur, S.A.
  • NXT Capital Holdings, L.P.
  • OGF SA
  • OLE Media Management, L.P.
  • Orbis Institutional Global Equity L.P.
  • PAG Asia I L.P.
  • PetVet Care Centers, Inc.
  • PhyMed Healthcare Group
  • Plano Molding Company
  • Polar Multi-Strategy Fund (Legacy)
  • Providence Equity Partners VI L.P.
  • Providence Equity Partners VII-A L.P.
  • RedBird Capital Partners Platform L.P.
  • Resource Management Service Inc.
  • Riverbed Technology, Inc
  • Scotia Gas Networks plc
  • SeaCube Container Leasing Ltd.
  • Serta Simmons Holdings, LLC
  • Shearer's Foods, Inc.
  • Silver Lake Partners III, L.P.
  • 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.
  • Terranum Corporate Properties
  • The Brussels Airport Company
  • TierPoint, LLC
  • TP Partners Fund, L.P.
  • Trian Partners Co-Investment Opportunities Fund, L.P.
  • Trian Partners, Ltd.
  • Univision Communications Inc.
  • ValueAct Capital International II, L.P.
  • Westerleigh Group Holdings Limited
  • Woodspur Farming LLC