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Major Investments

Our Investments Valued At More Than $200 Million

We annually disclose individual investments that exceed $200 million. Even though $200 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, 2020

Fixed Income and Short-Term Investments Over $200 Million

Type Maturity Coupon
(%)
Fair Value
($ millions)
Cost
($ millions)
Government of Canada bonds 2021-2064 0.25-8.00 $ 27,934 $ 25,031
Canada treasury bills 2021-2021 0.00-0.00 19,724 19,712
Provincial bonds 2021-2060 0.00-6.35 13,539 11,790
Securities purchased under
agreements to resell
2021-2022 -0.85-0.42 10,862 10,838
International corporate bonds 2021-2060 0.00-15.70 7,794 7,101
Bank notes 2021-2059 0.00-0.00 4,156 4,162
International sovereign debt 2021-2050 0.00-7.00 1,528 1,507
U.S. treasury bills 2021-2021 0.00-0.00 1,019 1,046
Canadian corporate bonds 2021-2047 0.00-14.00 438 414
U.S. treasury bonds 2025-2050 0.25-1.25 (818) (849)
Commercial paper issued 2021-2021 0.00-0.00 (3,637) (3,761)
Securities sold under
agreements to repurchase
2021-2023 -0.86-0.49 (14,185) (14,172)
Term debt issued 2021-2030 0.05-2.75 (17,212) (17,084)

Real-Return Investments Over $200 Million

Type Maturity Coupon
(%)
Fair Value
($ millions)
Cost
($ millions)
Real-return Canada bonds 2021-2047 1.25-4.25 $ 14,652 $ 10,123
U.S. treasury inflation
protection
2021-2030 0.13-0.13 6,386 6,552
Real-return provincial bonds 2021-2036 2.00-4.50 2,092 1,222
Real-return Canadian
corporate bonds
2026-2039 0.00-5.33 719 318

Corporate Shares/Units Over $200 Million

Security Name Shares
(millions)
Fair Value
($ millions)
The AZEK Company Inc. 39.2 $1,921.3
Multiplan Empreendimentos
Imobiliarios S.A.
164.4 948.9
Alibaba Group Holding Limited 10.6 739.5
Samsung Electronics Co., Ltd. 6.0 566.7
The Communication Services
Select Sector SPDR® Fund
5.9 508.6
Barry Callebaut AG 0.2 477.2
Microsoft Corp 1.5 429.7
Novartis AG 3.4 409.0
The Consumer Staples Select
Sector SPDR® Fund
4.7 404.6
Taiwan Semiconductor
Manufacturing Company Limited
14.9 359.4
Capital One Financial Corp. 2.7 346.0
The Macerich Company 24.6 333.9
CSX Corporation 2.8 326.1
JPMorgan Chase & Co. 1.9 313.0
ServiceNow, Inc. 0.4 309.1
Cushman & Wakefield PLC 14.6 276.5
Alphabet Inc. 0.1 265.7
HDFC Bank Limited 9.3 232.7
Berry Global Group, Inc. 3.2 231.5
Safran SA 1.3 226.0
Berkshire Hathaway Inc. 0.7 213.6
Tencent Holdings Ltd 2.2 204.4

Real Estate Properties Over $200 Million

Property Total Square
Footage (thousands)
Effective %
Ownership

Canadian Regional
Shopping Centres
 
Champlain Place, Dieppe 850 100%
Chinook Centre, Calgary 1,431 100%
Fairview Mall, Toronto 779 50%
Fairview Park Mall,
Kitchener
647 100%
Fairview Pointe Claire,
Montreal
964 50%
Le Carrefour Laval,
Montreal
1,276 67%
Les Galeries D'Anjou,
Montreal
1,141 50%
Les Promenades St. Bruno,
Montreal
922 100%
Lime Ridge Mall, Hamilton 813 100%
Market Mall, Calgary 1,006 50%
Markville Shopping Centre,
Markham
988 100%
Masonville Place, London 664 100%
Pacific Centre, Vancouver 1,072 50%
Polo Park Mall, Winnipeg 1,325 100%
Richmond Centre, Richmond 664 50%
Rideau Centre, Ottawa 1,607 100%
Sherway Gardens, Toronto 1,291 100%
Toronto Eaton Centre, Toronto 2,540 100%

Canadian Office Properties
   
City Centre Office, Calgary 858 100%
Deloitte Tower, Montreal 513 100%
Pacific Centre Office Complex,
Vancouver
1,819 50%
RBC Centre, Toronto 1,222 50%
Toronto-Dominion Centre Office
Complex, Toronto
4,418 70%
Toronto Eaton Centre
Office Complex,
Toronto
2,192 100%
Waterfront Centre, Vancouver 401 50%
Yonge Corporate Centre,
Toronto
660 100%
160 Front Street West, Toronto 1,254 50%
16 York Street, Toronto 896 70%

Canadian Hotel Properties
   
The Ritz-Carlton, Toronto 335 100%

Land
 
East Harbour Lands, Toronto 152 100%

International Office Properties
   
White City Place, London, U.K 927 100%

Private Companies and Partnerships Over $200 Million

  • 24-7 Intouch Inc.
  • Actera Partners II L.P.
  • ADNOC Gas Pipelines Assets LLC
  • AEA Investors Fund VI LP
  • Aethon Energy Management LLC
  • Aethon III LLC
  • Allworth Financial Holdings, LLC
  • Amica Senior Lifestyles
  • Anthem Entertainment Group Inc.
  • Apollo Hybrid Value Overseas Partners (Delaware 892), L.P.
  • Apollo Special Situations Fund, L.P.
  • Aroona Farms SA Pty Ltd.
  • Arterra Wines Canada, Inc.
  • Automobile Protection Corporation
  • Autopista Arco Norte, S.A. de CV
  • Baldr Fund Inc.
  • BaseCore Metals LP
  • BC European Capital X - 7 LP
  • Bear Holdings LP (New Afton Royalty)
  • Birmingham Airport Holdings Limited
  • Bristol Airport Limited
  • Broad Street Loan Partners III Offshore, LP
  • BroadStreet Capital Partners, Inc.
  • Busy Bees Benefits Holdings Limited
  • Camelot Group plc
  • Canada Guaranty Mortgage Insurance Company
  • CeramTec GmbH
  • Cerberus OT Partners II, L.P.
  • CIBanco, S.A. CIB/477
  • Compass Holdings LLC
  • Copenhagen Airport A/S
  • CSC ServiceWorks Holdings, Inc.
  • Cubico Sustainable Investments Limited
  • DaVinciRe Holdings Ltd.
  • Empresa de Servicios Sanitarios del Bio-Bio S.A.
  • Epic Games, Inc.
  • Esval S.A.
  • EWP PA Fund, LTD.
  • FAPS Holdings, Inc.
  • FirstFruits HoldCo, LLC
  • Fleet Complete
  • Flexera Holdings, L.P.
  • Flynn Restaurant Group LLC
  • FMAP ACL Limited
  • FMAP EAM Limited
  • FMAP PCM Limited
  • FMAP SOC Limited
  • FMAP WMC Limited
  • Fondo de Capital Privado Terranum
  • GCT Global Container Terminals Inc.
  • Goldcrest Farm Trust REIT LLC
  • Hancock Timber Resources Group
  • Heartland Dental Care, Inc.
  • Heritage Royalty Limited Partnership
  • Hg Saturn A L.P.
  • HRG Royalty II LLC
  • HRG Royalty LLC
  • HS Santanoni Fund Ltd.
  • IDEAL Group
  • Inmarsat Group Holdings Limited
  • Intact Financial Corporation
  • Intercos S.p.A.
  • Irish National Lottery
  • Jasper Farms
  • Kedaara Capital I Limited
  • Kyobo Life Insurance Co., Ltd.
  • Lendmark Financial Services
  • LMAP 903 Limited
  • LMAP 904 Limited
  • LMAP 909
  • LMAP 910
  • LMAP Chi Limited
  • LMAP Epsilon Limited
  • London City Airport Limited
  • Lowell Group Limited
  • LPC Multifamily Holdco LLC
  • MBK Partners Fund IV, L.P.
  • MBK Partners III, L.P.
  • Memora Servicios Funerarios, S.L.U.
  • MSB Capital Limited Class A
  • Nordic Capital IX Alpha, L.P.
  • Nuevosur, S.A.
  • Oaktree European Principal Fund IV L.P.
  • OGF SA
  • Orbis Institutional Global Equity L.P.
  • Orgain, Inc.
  • OTPP Environmental Services Trust – GFL Environmental Inc.
  • Outdoor Holdings, LLC
  • Pacifico Sur
  • PAG Asia II LP
  • Polar Multi-Strategy Fund (Legacy)
  • Pony AI Inc
  • Premier Lotteries Investment UK Limited (Camelot Group)
  • Princeton Digital Group Limited
  • RedBird Capital Partners Platform LP
  • RedBird Series 2019, LP
  • Resource Management Service Inc.
  • RSA Security LLC
  • SCI PH Inc.
  • Scotia Gas Networks plc Limited
  • SeaCube Container Leasing Ltd.
  • SH Old Quarry LP
  • Shearer's Foods, Inc.
  • Silver Lake Partners IV, L.P.
  • Sixth Cinven Fund (No.4) Limited Partnership
  • Skyway Concession Company LLC
  • SmartFit Escola de Ginástica e Dança S.A
  • Sociedad Austral de Electricidad S.A.
  • Solus Offshore Opportunities Fund 5 LP
  • Sovos Compliance, LLC
  • Space Exploration Technologies Corp.
  • Stone Canyon Industries Holdings Inc.
  • Storapod Holding Company, Inc.
  • Sydney Desalination Plant Pty Limited
  • Synlab Limited
  • TACF Institutional Credit Fund
  • Techem GmbH
  • The Brussels Airport Company
  • Thoma Bravo Fund XII-A, L.P.
  • Thoma Bravo Fund XIII-A, L.P.
  • TierPoint, LLC
  • Traeger Pellet Grills Holdings LLC
  • Trivium Packaging
  • Verily Life Sciences LLC
  • VIN White Fund Limited
  • Voloridge Fund, Ltd.
  • Warburg Pincus Private Equity XII-B, L.P.
  • Westerleigh Group Holdings Limited
  • Zuoyebang Education Limited
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