The Caisse de depot et placement du Québec has just revealed that it has considerably reduced its stake in Home Depot and substantially increased its investments in Visa and Comcast.
This information is revealed this week in a regulatory document specifying the Caisse’s positions held in companies whose shares are listed on an American stock exchange as of the beginning of July.
The Caisse’s investment in the American hardware store was thus cut by 95% following the sale of 1.2 million shares and is now only worth around twenty million Americans.
The stake in the credit card issuer jumped 325% during the second quarter with the addition of 1 million shares in the portfolio, while that in Comcast swelled by 230% with the addition of 4.4 million shares in the American telecommunications company.
The Caisse thus held 1.3 million shares of Visa worth 314 million US to start the month of July and 6.4 million shares of Comcast worth 365 million US.
Quebec’s largest institutional investor has made several other notable changes. The Caisse indicates in particular that it has liquidated the rest of its stake in the parent company of Tim Hortons (Restaurant Brands International), lowered its investment in Bank of America by 60% and reduced its exposure to Tesla by 15%.
The Caisse also doubled its investment in Nike, increased its stake in Cisco Systems by 20% and increased its investment in Pfizer by 15%.
The transactions reported to the American stock market authorities were all carried out during the months of April, May and June.
