“Canadian pension fund manager Caisse de dépôt et placement du Québec has significantly raised its bet on Apple Inc., holding a stake in the California technology giant worth more than $1-billion as it hunts for fewer but more quality investments in the years ahead,” Nicolas Van Praet reports for The Financial Post.
“Documents filed with the U.S. Securities and Exchange Commission show the Montreal-based pension fund doubled its position in Apple in its latest quarter ended Dec.31, to two million shares from one million shares three months earlier,” Van Praet reports. “The value of that stock at the end of the year was $1.07-billion, placing Apple among the Caisse’s largest U.S.-traded investments.”
Read more in the full article here.
[Thanks to MacDailyNews Reader “Carl H.” for the heads up.]
They need some good investments considering some of the dogs that they have bought in the past all in the name of preparing Quebec for separation from the rest of Canada!
Hopefully they bought some PUT protection back in Sept. when they bought 1M shares. Depending on when they bought by my calculation they’re down about 400 Million.
Nothing like buying in at the top! They’ve got a lot of company around here apparently.
2012 was a good year for the fund. Just published results = 9,8 % return on $50 billions funds under management
Yup. Michael Sabia is doing ok despite the lamentations in 2009 of Bernie Landry (our ex-Premier) who deemed Sabia too federalist and unable to understand the distinct financial culture of Quebec.