ONTARIO TEACHERS PENSION PLAN BOARD

Pension sovereign Low signal CIK 937567
League rank
#7
in Pension sovereign · #7128 overall
Long book
$3.35B
Q1 2026
Positions
145
Top-10 weight
67%
concentration
Last quarter
+4.0%
SPY +14.8%
Turnover
37%
of book per quarter

Strategy in plain words

auto-generated from filings

ONTARIO TEACHERS PENSION PLAN BOARD is a pension / sovereign wealth manager, running a $3.35B US long book across 145 positions.

The portfolio is concentrated: the top 10 names carry 67% of the portfolio. The portfolio is actively managed, with meaningful quarterly turnover. Current anchor positions: GFL ENVIRONMENTAL INC-SUB VT, ISHR IBX USD HIYLD CB ETF-UI, SALESFORCE INC, CAPITAL ONE FINANCIAL CORP, PNC FINANCIAL SERVICES GROUP.

Over the last 9 quarters its long book ran on average 2.6pp per quarter behind the S&P 500, beating the index in 2 of 9 quarters. Signal value of individual moves is limited — treat changes as weak evidence.

Implied long-book return vs S&P 500

methodology: positions priced quarterly, no shorts/options
Fund long book S&P 500
Q1 2024
-0.9%
Q2 2024
+5.9%
Q3 2024
+1.8%
Q4 2024
-0.4%
Q1 2025
+9.0%
Q2 2025
+2.5%
Q3 2025
-0.4%
Q4 2025
-5.1%
Q1 2026
+4.0%

Sector allocation

Utilities
36%
Technology
15%
Financials
11%
Industrials
10%
Consumer discretionary
9%
Healthcare
7%
Other
5%
Services media
4%

Long book by quarter

$10.73B
Q1 2024
$10.05B
Q2 2024
$10.94B
Q3 2024
$7.19B
Q4 2024
$6.35B
Q1 2025
$4.71B
Q2 2025
$4.15B
Q3 2025
$4.32B
Q4 2025
$3.35B
Q1 2026

What does ONTARIO TEACHERS own?

Q1 2026 13F
CompanySectorSharesValue% of bookChange
GFL GFL ENVIRONMENTAL INC-SUB VTUtilities22.5M$936.7M28.0%Held
CRM SALESFORCE INCTechnology705.2K$131.6M3.9%+5.3%
COF CAPITAL ONE FINANCIAL CORPFinancials683.2K$124.6M3.7%-20.0%
PNC PNC FINANCIAL SERVICES GROUPFinancials550.7K$114.6M3.4%New
NVDA NVIDIA CORPTechnology536.9K$93.6M2.8%-27.1%
ETN EATON CORP PLCIndustrials236.0K$84.4M2.5%New
ROK ROCKWELL AUTOMATION INCOther233.2K$83.7M2.5%-33.6%
CARR CARRIER GLOBAL CORPIndustrials1.3M$73.3M2.2%-31.1%
ROST ROSS STORES INCConsumer discretionary329.7K$71.4M2.1%-27.3%
ABBV ABBVIE INCHealthcare326.4K$71.0M2.1%+17.2%
BURL BURLINGTON STORES INCConsumer discretionary214.4K$69.8M2.1%-14.1%
CMG CHIPOTLE MEXICAN GRILL INCConsumer discretionary2.1M$68.4M2.0%+2454.5%
MA MASTERCARD INC - AServices media107.6K$53.8M1.6%New
PGR PROGRESSIVE CORPFinancials266.7K$52.9M1.6%New
SNOW SNOWFLAKE INCTechnology347.7K$52.4M1.6%New
AZN ASTRAZENECA PLCHealthcare265.6K$52.4M1.6%New
SA SEABRIDGE GOLD INCMaterials1.7M$47.2M1.4%Held
CMI CUMMINS INCIndustrials84.0K$45.2M1.4%-73.3%
TMUS T-MOBILE US INCCommunications210.6K$44.2M1.3%New
TEAM ATLASSIAN CORP-CL ATechnology643.1K$43.9M1.3%-10.3%
META META PLATFORMS INC-CLASS ATechnology64.1K$36.7M1.1%+39.3%
DIS WALT DISNEY CO/THEServices media324.6K$31.3M0.9%-55.8%
TMO THERMO FISHER SCIENTIFIC INCOther59.5K$29.2M0.9%+162.2%
ZBH ZIMMER BIOMET HOLDINGS INCHealthcare270.9K$24.5M0.7%+134.3%
ASML ASML HOLDING NV-NY REG SHSIndustrials17.6K$23.2M0.7%New
SPOT SPOTIFY TECHNOLOGY SACommunications46.0K$22.3M0.7%New
TTWO TAKE-TWO INTERACTIVE SOFTWRETechnology98.2K$19.4M0.6%New
EW EDWARDS LIFESCIENCES CORPHealthcare183.7K$14.7M0.4%+36.7%
COOK TRAEGER INCIndustrials493.9K$14.3M0.4%New
AMAT APPLIED MATERIALS INCTechnology32.4K$11.1M0.3%New
ELAN ELANCO ANIMAL HEALTH INCHealthcare417.7K$10.0M0.3%New
DHR DANAHER CORPTechnology50.4K$9.6M0.3%New
POR PORTLAND GENERAL ELECTRIC COUtilities95.9K$5.1M0.2%-30.9%
FE FIRSTENERGY CORPUtilities97.8K$5.0M0.1%-14.9%
OGE OGE ENERGY CORPUtilities90.9K$4.4M0.1%New
ISRG INTUITIVE SURGICAL INCHealthcare9.0K$4.1M0.1%New
GNTX GENTEX CORPIndustrials185.5K$4.1M0.1%+49.5%
SAM BOSTON BEER COMPANY INC-AConsumer staples17.1K$3.9M0.1%-44.3%
DPZ DOMINO'S PIZZA INCConsumer discretionary10.3K$3.7M0.1%+47.0%
BKH BLACK HILLS CORPUtilities50.7K$3.5M0.1%-7.6%
KHC KRAFT HEINZ CO/THEConsumer staples151.4K$3.4M0.1%-3.2%
CMCSA COMCAST CORP-CLASS ACommunications117.0K$3.4M0.1%+75.5%
LEA LEAR CORPIndustrials27.1K$3.3M0.1%-12.5%
NYT NEW YORK TIMES CO-AOther39.0K$3.3M0.1%-23.7%
ADM ARCHER-DANIELS-MIDLAND COConsumer staples44.9K$3.3M0.1%-43.7%
BBWI BATH & BODY WORKS INCConsumer discretionary163.8K$3.1M0.1%+38.2%
DUK DUKE ENERGY CORPUtilities23.3K$3.1M0.1%New
TXRH TEXAS ROADHOUSE INCConsumer discretionary18.4K$3.0M0.1%-23.2%
BKNG BOOKING HOLDINGS INCIndustrials709$3.0M0.1%+36.6%
PII POLARIS INCIndustrials54.4K$3.0M0.1%+9.1%

13F filing history

PeriodFormFiledEntriesReported valueFlagsSource
Q1 202613F-HRMay 11, 2026162$3.46B canonicalSEC ↗
Q4 202513F-HRFeb 13, 2026168$4.52B canonicalSEC ↗
Q3 202513F-HR/ARESTATEMENTFeb 13, 2026176$4.34B canonicalSEC ↗
Q3 202513F-HRNov 7, 2025181$4.74B SEC ↗
Q2 202513F-HR/ARESTATEMENTFeb 13, 2026306$4.84B canonicalSEC ↗
Q2 202513F-HRAug 8, 2025309$5.07B SEC ↗
Q1 202513F-HR/ARESTATEMENTFeb 13, 2026412$6.51B canonicalSEC ↗
Q1 202513F-HRMay 9, 2025415$6.70B SEC ↗
Q4 202413F-HR/ARESTATEMENTFeb 13, 2026424$8.02B canonicalSEC ↗
Q4 202413F-HRFeb 13, 2025427$8.33B SEC ↗
Q3 202413F-HR/ARESTATEMENTFeb 13, 2026421$11.79B canonicalSEC ↗
Q3 202413F-HRNov 8, 2024422$11.79B SEC ↗
Q2 202413F-HR/ARESTATEMENTFeb 13, 2026450$10.88B canonicalSEC ↗
Q2 202413F-HRAug 12, 2024451$10.88B SEC ↗
Q1 202413F-HR/ARESTATEMENTFeb 13, 2026477$11.53B canonicalSEC ↗
Q1 202413F-HRMay 10, 2024478$11.53B SEC ↗

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