CAE INC CAE
COM · Common Stock · CUSIP 124765108 · ISIN CA1247651088
- SectorIndustrials
- IndustryMiscellaneous Electrical Machinery, Equipment & Supplies
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($26.9m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $26.10. Options: 6 managers hold calls ($17.0m notional), 4 hold puts ($1.5m).
Trends to Q1 2026
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 180 |
| Q4 2022 | 191 |
| Q1 2023 | 182 |
| Q2 2023 | 186 |
| Q3 2023 | 190 |
| Q4 2023 | 197 |
| Q1 2024 | 212 |
| Q2 2024 | 218 |
| Q3 2024 | 227 |
| Q4 2024 | 224 |
| Q1 2025 | 231 |
| Q2 2025 | 267 |
| Q3 2025 | 261 |
| Q4 2025 | 264 |
| Q1 2026 | 293 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q2 2024 | 127 | 93 |
| Q3 2024 | 107 | 110 |
| Q4 2024 | 110 | 108 |
| Q1 2025 | 97 | 110 |
| Q2 2025 | 141 | 89 |
| Q3 2025 | 121 | 128 |
| Q4 2025 | 112 | 136 |
| Q1 2026 | 163 | 98 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2025 | $24.6m | $661.5k | 0.03 |
| Q3 2025 | $21.7m | $1.3m | 0.06 |
| Q4 2025 | $4.1m | $3.5m | 0.86 |
| Q1 2026 | $17.0m | $1.5m | 0.09 |
Biggest buyers
| Connor, Clark & Lunn Investment Management Ltd. | New | +2.3m |
| CIBC Asset Management Inc | Added | +2.2m |
| Fiera Capital Corp | Added | +1.3m |
| Federation des caisses Desjardins du Quebec | Added | +1.2m |
| BANK OF MONTREAL /CAN/ | Added | +1.2m |
| Sunriver Management LLC | New | +844.4k |
| TD Asset Management Inc | Added | +823.7k |
| BRANDES INVESTMENT PARTNERS, LP | Added | +716.7k |
| Select Equity Group, L.P. | Added | +665.0k |
| PICTON MAHONEY ASSET MANAGEMENT | Added | +596.7k |
Biggest sellers
| FIL Ltd | Reduced | -6.0m |
| 1832 Asset Management L.P. | Reduced | -5.8m |
| GOLDMAN SACHS GROUP INC | Reduced | -1.7m |
| MACKENZIE FINANCIAL CORP | Reduced | -1.4m |
| Artisan Partners Limited Partnership | Reduced | -1.3m |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | Reduced | -578.4k |
| SNYDER CAPITAL MANAGEMENT L P | Reduced | -536.9k |
| INTACT INVESTMENT MANAGEMENT INC. | Reduced | -520.1k |
| Sycale Advisors (NY) LLC | Reduced | -477.5k |
| Beutel, Goodman & Co Ltd. | Reduced | -451.3k |
Biggest calls
| Converium Capital Inc. | New | $9.1m350.0k shares |
| BANK OF MONTREAL /CAN/ | New | $5.4m207.6k shares |
| ROYAL BANK OF CANADA | New | $2.0m78.1k shares |
| SIG North Trading, ULC | Reduced | $255.3k9.8k shares |
| TORONTO DOMINION BANK | Added | $119.8k4.6k shares |
| NATIONAL BANK OF CANADA /FI/ | New | $59.9k23 shares |
Biggest puts
| ROYAL BANK OF CANADA | Reduced | $1.3m49.5k shares |
| SIG North Trading, ULC | Reduced | $200.6k7.7k shares |
| TORONTO DOMINION BANK | New | $26.0k1.0k shares |
| SIMPLEX TRADING, LLC | Reduced | $7.8k300 shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
CAISSE DE DEPOT ET PLACEMENT DU QUEBEC
13D · may seek influence
new · filed 2025-02-14
Stated purposeThe Reporting Person purchased the Common Shares for investment purposes. On February 13 2025, the Reporting Person entered into a Nomination Agreement (the "Nomination Agreement") with the Issuer. The Nomination Agreement provides that, for as long as the Reporting Person, together with its affiliates and group members, holds at least 5% of the outstanding Common Shares, the Reporting Person has the right, subject to certain terms and conditions, to nominate a candidate for election in connection with a proxy solicitation relating to the election of directors of the Company. The Reporting Person intends to nominate Louis Tetu for election as a director at the Issuer's 2025 annual general meeting of shareholders. The foregoing summary of the Nomination Agreement is not complete and is qu… Full filing |
9.7% |
| JARISLOWSKY, FRASER Ltd 13G · institution filed 2024-11-12 | 7.0% |
| 1832 Asset Management L.P. 13G · institution +1.1 pts · filed 2026-08-12 | 6.3% |
| BRANDES INVESTMENT PARTNERS, LP 13G · institution new · filed 2026-08-13 | 5.8% |
| BlackRock, Inc. 13G · institution +0.4 pts · filed 2026-01-21 | 5.0% |
| MACKENZIE FINANCIAL CORP 13G · passive investor -0.8 pts · filed 2025-05-13 | 5.0% |
Insider purchases and sales in Q1 2026
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
None reported in Q1 2026.
Holders, Q1 2026
| Manager | Shares | Change |
|---|---|---|
| Caisse de depot et placement du Quebec 1.29% of their portfolio | 30.9m $802.4m | Unchanged |
| 1832 Asset Management L.P. 0.57% of their portfolio | 16.4m $427.1m | Reduced -5.8m |
| BRANDES INVESTMENT PARTNERS, LP 2.93% of their portfolio | 15.9m $413.5m | Added +716.7k |
| BROWNING WEST LP 20.33% of their portfolio | 12.6m $328.8m | Unchanged |
| MACKENZIE FINANCIAL CORP 0.37% of their portfolio | 11.9m $310.9m | Reduced -1.4m |
| VANGUARD CAPITAL MANAGEMENT LLC 0.01% of their portfolio | 8.7m $227.1m | First filing |
| Select Equity Group, L.P. 1.14% of their portfolio | 8.3m $214.2m | Added +665.0k |
| Beutel, Goodman & Co Ltd. 1.10% of their portfolio | 6.2m $161.7m | Reduced -451.3k |
| ROYAL BANK OF CANADA 0.03% of their portfolio | 6.1m $159.4m | Reduced -127.9k |
| BANK OF MONTREAL /CAN/ 0.05% of their portfolio | 5.0m $129.3m | Added +1.2m |
| SNYDER CAPITAL MANAGEMENT L P 2.48% of their portfolio | 4.9m $127.8m | Reduced -536.9k |
| FIL Ltd 0.09% of their portfolio | 4.5m $116.1m | Reduced -6.0m |
| NATIONAL BANK OF CANADA /FI/ 0.11% of their portfolio | 4.2m $108.0m | Added +448.4k |
| TD Asset Management Inc 0.07% of their portfolio | 3.5m $91.6m | Added +823.7k |
| CIBC Asset Management Inc 0.21% of their portfolio | 3.3m $87.8m | Added +2.2m |
| LETKO, BROSSEAU & ASSOCIATES INC 1.31% of their portfolio | 3.1m $81.0m | Reduced -96.7k |
| Federation des caisses Desjardins du Quebec 0.28% of their portfolio | 3.1m $79.1m | Added +1.2m |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 2.9m $74.6m | Added +102.0k |
| VANGUARD FIDUCIARY TRUST CO 0.02% of their portfolio | 2.8m $73.0m | First filing |
| Invesco Ltd. 0.01% of their portfolio | 2.6m $66.8m | Added +133.1k |
| Connor, Clark & Lunn Investment Management Ltd. 0.14% of their portfolio | 2.3m $61.1m | New |
| Fiera Capital Corp 0.20% of their portfolio | 2.3m $59.9m | Added +1.3m |
| DIMENSIONAL FUND ADVISORS LP 0.01% of their portfolio | 2.2m $57.3m | Added +343.8k |
| Clearbridge Investments, LLC 0.05% of their portfolio | 2.1m $55.5m | Reduced -273.4k |
| Legal & General Group Plc 0.01% of their portfolio | 2.1m $53.3m | Reduced -105.2k |
| MORGAN STANLEY 0.00% of their portfolio | 2.1m $53.5m | Reduced -5.4k |
| CANADA PENSION PLAN INVESTMENT BOARD 0.03% of their portfolio | 2.0m $52.7m | Reduced -148.7k |
| CIBC WORLD MARKET INC. 0.08% of their portfolio | 1.8m $45.6m | Added +223.8k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 1.7m $44.3m | Added +307.3k |
| BANK OF NOVA SCOTIA 0.08% of their portfolio | 1.7m $43.7m | Reduced -325.2k |
| PICTON MAHONEY ASSET MANAGEMENT 0.42% of their portfolio | 1.6m $40.5m | Added +596.7k |
| Artisan Partners Limited Partnership 0.06% of their portfolio | 1.4m $36.8m | Reduced -1.3m |
| Vanguard Global Advisers, LLC 0.02% of their portfolio | 1.3m $33.3m | First filing |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.03% of their portfolio | 1.2m $31.7m | Reduced -578.4k |
| Global Alpha Capital Management Ltd. 1.89% of their portfolio | 1.2m $31.5m | Added +486.0k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 1.2m $30.1m | Added +54.4k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.01% of their portfolio | 1.1m $38.7m | Reduced -43.2k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.04% of their portfolio | 1.0m $26.9m | Unchanged |
| Swiss National Bank 0.02% of their portfolio | 1.0m $26.7m | Added +220.8k |
| Capital International Investors 0.01% of their portfolio | 964.7k $25.1m | Unchanged |
| First Eagle Investment Management, LLC 0.04% of their portfolio | 935.0k $24.4m | Unchanged |
| Driehaus Capital Management LLC 0.17% of their portfolio | 899.9k $23.4m | Reduced -307.5k |
| Waratah Capital Advisors Ltd. 2.07% of their portfolio | 889.2k $23.2m | Added +576.5k |
| AVIVA PLC 0.04% of their portfolio | 850.1k $22.1m | Added +24.3k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 846.9k $22.0m | Added +22.8k |
| Sunriver Management LLC 3.72% of their portfolio | 844.4k $22.0m | New |
| TORONTO DOMINION BANK 0.04% of their portfolio | 841.1k $21.9m | Reduced -24.7k |
| PCJ Investment Counsel Ltd. 5.80% of their portfolio | 782.7k $20.4m | Added +22.1k |
| Sycale Advisors (NY) LLC 9.95% of their portfolio | 762.7k $19.9m | Reduced -477.5k |
| Cresset Asset Management, LLC 0.08% of their portfolio | 727.6k $19.0m | Added +9.7k |
| TD Waterhouse Canada Inc. 0.06% of their portfolio | 721.2k $19.0m | Added +528.6k |
| INTACT INVESTMENT MANAGEMENT INC. 0.51% of their portfolio | 682.2k $17.8m | Reduced -520.1k |
| CITADEL ADVISORS LLC 0.01% of their portfolio | 662.9k $17.3m | Added +417.1k |
| VANGUARD ASSET MANAGEMENT, Ltd 0.01% of their portfolio | 627.5k $16.3m | First filing |
| DEUTSCHE BANK AG\ 0.01% of their portfolio | 589.9k $15.4m | Added +311.6k |
| Amundi 0.00% of their portfolio | 587.6k $15.3m | Added +216.8k |
| BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 0.09% of their portfolio | 575.2k $15.0m | Added +406.7k |
| MONTRUSCO BOLTON INVESTMENTS INC. 0.22% of their portfolio | 565.5k $14.7m | Unchanged |
| UBS Group AG 0.00% of their portfolio | 561.8k $14.6m | Added +52.7k |
| Anson Funds Management LP 0.93% of their portfolio | 560.0k $14.6m | Added +415.0k |
| MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio | 559.4k $14.6m | Added +511.2k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 523.2k $13.6m | Reduced -1.7m |
| MUFG SECURITIES (CANADA), LTD. 0.36% of their portfolio | 477.3k $12.4m | Reduced -12.3k |
| Public Sector Pension Investment Board 0.04% of their portfolio | 470.0k $12.3m | Added +68.3k |
| BARCLAYS PLC 0.00% of their portfolio | 455.6k $11.9m | Added +442.2k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 447.4k $11.6m | Added +28.0k |
| BlackRock, Inc. 0.00% of their portfolio | 442.8k $11.5m | Added +31.0k |
| STATE OF WISCONSIN INVESTMENT BOARD 0.02% of their portfolio | 387.5k $10.1m | Reduced -133.2k |
| Heathbridge Capital Management Ltd. 3.55% of their portfolio | 376.4k $9.8m | Reduced -1.2k |
| Senvest Management, LLC 0.32% of their portfolio | 370.0k $9.6m | New |
| Addenda Capital Inc. 0.37% of their portfolio | 366.8k $13.3m | Added +4.1k |
| D. E. Shaw & Co., Inc. 0.01% of their portfolio | 337.9k $8.8m | Added +197.8k |
| Nuveen, LLC 0.00% of their portfolio | 324.9k $8.4m | Added +112.2k |
| FMR LLC 0.00% of their portfolio | 286.5k $7.5m | Added +201.4k |
| Qube Research & Technologies Ltd 0.01% of their portfolio | 273.8k $7.1m | Added +245.8k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 272.2k $7.1m | Reduced -14.1k |
| Korea Investment CORP 0.01% of their portfolio | 267.8k $6.9m | Reduced -17.9k |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.01% of their portfolio | 264.2k $6.9m | New |
| RENAISSANCE TECHNOLOGIES LLC 0.01% of their portfolio | 261.9k $6.8m | New |
| NORTHERN TRUST CORP 0.00% of their portfolio | 258.3k $6.7m | Added +2.1k |
| SCOTIA CAPITAL INC. 0.03% of their portfolio | 254.6k $6.6m | Added +93.9k |
| ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio | 252.8k $6.6m | Added +36.3k |
| Northwest & Ethical Investments L.P. 0.14% of their portfolio | 226.5k $5.9m | Reduced -21.6k |
| Schonfeld Strategic Advisors LLC 0.05% of their portfolio | 225.2k $5.9m | New |
| JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio | 223.0k $5.8m | Added +149.8k |
| AGF MANAGEMENT LTD 0.03% of their portfolio | 198.9k $5.7m | New |
| ROYCE & ASSOCIATES LP 0.05% of their portfolio | 197.8k $5.2m | Added +45.4k |
| Stanley-Laman Group, Ltd. 0.63% of their portfolio | 197.4k $5.1m | Added +2.8k |
| AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio | 195.7k $5.1m | Added +44.1k |
| Zurcher Kantonalbank (Zurich Cantonalbank) 0.01% of their portfolio | 184.1k $4.8m | Added +15.4k |
| Henry James International Management Inc. 1.71% of their portfolio | 182.2k $4.7m | Unchanged |
| Pictet Asset Management Holding SA 0.00% of their portfolio | 173.9k $4.5m | Reduced -3.4k |
| State of Tennessee, Department of Treasury 0.01% of their portfolio | 168.9k $4.4m | Unchanged |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 163.6k $5.9m | Added +149.2k |
| APG Asset Management N.V. 0.01% of their portfolio | 162.7k $3.7m | Reduced -3.5k |
| NATIXIS ADVISORS, LLC 0.01% of their portfolio | 159.0k $4.1m | Added +4.1k |
| BANK OF NOVA SCOTIA TRUST CO 0.35% of their portfolio | 158.5k $4.1m | Added +40.9k |
| NewGen Asset Management Ltd 2.51% of their portfolio | 158.2k $4.1m | New |
| Quantinno Capital Management LP 0.01% of their portfolio | 144.1k $3.8m | Added +36.4k |
| Vanguard Investments Australia, Ltd. 0.01% of their portfolio | 142.4k $3.7m | First filing |