Institutional Manager · CIK 0000937567

ONTARIO TEACHERS PENSION PLAN BOARD

Toronto, A6 · File #028-10597

Latest AUM

$4.52B

Positions

168

Top-10 Concentration

63.6%

Filings

Portfolio Value Over Time

2024-03

2024-06

2024-09

2024-12

2025-03

2025-06

2025-09

2025-12

Biggest QoQ Changes

Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.

Action	Issuer	Ticker / CUSIP	Δ Shares	Flow ($)	Price Effect
ADD	ISHARES TR	464288513	+5,950,000	+$479.7M	-$2.9M
REDUCE	PONY AI INC	PYAIF	-15,149,236	-$219.7M	-$172.9M
EXITED	HONEYWELL INTL INC	438516106	-642,389	-$135.2M	$0
EXITED	MICROSOFT CORP	594918104	-226,601	-$117.4M	$0
NEW	CARRIER GLOBAL CORPORATION	CARR	+1,889,464	+$99.8M	$0
REDUCE	GFL ENVIRONMENTAL INC	GFL	-1,846,726	-$79.3M	-$106.9M
EXITED	BLACKROCK INC	09290D101	-42,234	-$49.2M	$0
EXITED	PINTEREST INC	72352L106	-1,494,452	-$48.1M	$0
ADD	NVIDIA CORPORATION	NVDA	+237,737	+$44.3M	-$39,879
EXITED	ELI LILLY & CO	532457108	-45,365	-$34.6M	$0

Sector Allocation

Industrials

30.2%$1.37B

Technology

10.5%$475.6M

Consumer Discretionary

6.3%$287.3M

Consumer Staples

5.0%$226.7M

Healthcare

3.9%$174.7M

Communication Services

1.2%$53.0M

1.1%$49.3M

0.9%$43.1M

0.7%$30.1M

0.1%$2.8M

0.0%$1.8M

Filing History

Feb 13, 202613F HOLDINGS REPORT (Amended)Q/E Dec 2025477 pos · $11.53B
Feb 13, 202613F HOLDINGS REPORTQ/E Dec 2025168 pos · $4.52B
Feb 13, 202613F HOLDINGS REPORT (Amended)Q/E Dec 2025421 pos · $11.79B
Feb 13, 202613F HOLDINGS REPORT (Amended)Q/E Dec 2025412 pos · $6.51B
Feb 13, 202613F HOLDINGS REPORT (Amended)Q/E Dec 2025496 pos · $9.23B
Feb 13, 202613F HOLDINGS REPORT (Amended)Q/E Dec 2025306 pos · $4.84B
Feb 13, 202613F HOLDINGS REPORT (Amended)Q/E Dec 2025176 pos · $4.34B
Feb 13, 202613F HOLDINGS REPORT (Amended)Q/E Dec 2025492 pos · $10.09B
Feb 13, 202613F HOLDINGS REPORT (Amended)Q/E Dec 2025450 pos · $10.88B
Feb 13, 202613F HOLDINGS REPORT (Amended)Q/E Dec 2025424 pos · $8.02B
Nov 7, 202513F HOLDINGS REPORTQ/E Sep 2025181 pos · $4.74B
Aug 8, 202513F HOLDINGS REPORTQ/E Jun 2025309 pos · $5.07B
May 9, 202513F HOLDINGS REPORTQ/E Mar 2025415 pos · $6.70B
Feb 13, 202513F HOLDINGS REPORTQ/E Dec 2024427 pos · $8.33B
Nov 8, 202413F HOLDINGS REPORTQ/E Sep 2024422 pos · $11.79B
Aug 12, 202413F HOLDINGS REPORTQ/E Jun 2024451 pos · $10.88B
May 10, 202413F HOLDINGS REPORTQ/E Mar 2024478 pos · $11.53B
Nov 13, 202313F HOLDINGS REPORTQ/E Dec 2023497 pos · $9.23B

Top 20 Holdings — Dec 2025

#	Issuer	Ticker	Shares	Value	% of Portfolio
1	GFL ENVIRONMENTAL INC	GFL	35,357,367	$1.22B	11.51%
2	MICROSOFT CORP	MSFT	2,490,183	$1.05B	9.88%
3	ALPHABET INC	GOOG	4,718,076	$712.1M	6.72%
4	ISHARES TR	464287242	6,000,000	$653.5M	6.17%
5	CHUBB LIMITED	CB	2,436,274	$631.3M	5.96%
6	MORGAN STANLEY	MS-PQ	5,816,843	$547.7M	5.17%
7	LOWES COS INC	548661107	1,938,581	$493.8M	4.66%
8	ABBVIE INC	ABBV	2,685,894	$489.1M	4.61%
9	TRANE TECHNOLOGIES PLC	TT	1,587,498	$476.6M	4.50%
10	BECTON DICKINSON & CO	BDX	1,919,583	$475.0M	4.48%
11	COMCAST CORP NEW	CCZ	10,850,995	$470.4M	4.44%
12	DISNEY WALT CO	254687106	3,477,994	$425.6M	4.01%
13	STARBUCKS CORP	SBUX	4,542,811	$415.2M	3.92%
14	SALESFORCE INC	CRM	1,373,493	$413.7M	3.90%
15	CUMMINS INC	CMI	1,376,086	$405.5M	3.83%
16	PACCAR INC	PCAR	3,159,985	$391.5M	3.69%
17	HUMANA INC	HUM	1,059,478	$367.3M	3.47%
18	KEYCORP	493267108	21,690,319	$342.9M	3.24%
19	VIASAT INC	VSAT	11,356,776	$205.4M	1.94%
20	TRAEGER INC	COOK	24,693,075	$62.5M	0.59%