Caisse Des Depots Et Consignations
Caisse des Dépôts et Consignations (CDC) is a major French public financial institution headquartered in Paris, France. Founded in 1816, CDC operates as a state-backed investor and long-term asset manager focused on serving the public interest and supporting France’s economic development. As of 2025, CDC is the largest public asset manager in France and manages core mandates such as regulated savings, pensions, and local development. With more than 127,000 employees (including group subsidiaries like Transdev), CDC manages a unique governance structure supervised by the French Parliament, and serves local authorities, state bodies, SMEs, and the broader French public sector.
Investment Strategy
CDC’s investment strategy emphasizes responsible, long-term investment to promote the public interest and the economic development of France. Its diversified approach covers all asset classes—fixed income (77%), equities (20%), and real estate/forestry (3%)—with mandates spanning infrastructure, regulated savings schemes, sustainable development, social housing, SME financing via Bpifrance, and public infrastructure projects. CDC does not seek profit maximization on public mandates but instead re-invests earnings into strategic assets and French growth sectors, functioning as a unique blend of institutional investor, state agency, and development bank, investing where market solutions are insufficient.
Top Holdings
Equity Positions (192)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
L LIN | LINDE PLC | 13.83% | $330.3M | 704,086 | $418.75 | $469.18 | +$3.0M |
U UBS | UBS GROUP AG | 12.02% | $287.0M | 7,922,061 | $30.32 | $33.82 | +$35.1M |
A ALC | ALCON AG | 8.98% | $214.4M | 2,264,092 | $85.08 | $88.28 | +$4.0M |
T TT | TRANE TECHNOLOGIES PLC | 5.66% | $135.2M | 309,159 | $364.91 | $437.41 | +$31.1M |
A AMRZ | AMRIZE LTD | 4.32% | $103.2M | 1,931,802 | $49.55 | $49.55 | +$103.2M |