SCHEDULE: Caisse de depot et placement du Quebec Holds 7.3% of TFI International

Caisse de depot et placement du Quebec reports a 7.3% beneficial ownership of TFI International Inc. common stock as of September 30, 2026.

Summary

• Caisse de depot et placement du Quebec (CDPQ) has filed a Schedule 13G, indicating it beneficially owns 5,995,496 shares of TFI International Inc. common stock.
• This ownership stake represents 7.3% of the class of securities.
• The filing is an amendment (Amendment No. 3) to a previous filing.
• CDPQ holds sole voting power and sole dispositive power over these shares.
• The date of the event requiring this filing is September 30, 2026.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this filing as neutral to slightly positive, indicating a significant but stable ownership stake without immediate implications for control changes.

Positives

• Significant institutional ownership by a major Canadian investment firm (CDPQ).
• Clear reporting of ownership stake, providing transparency to the market.
• CDPQ's investment suggests confidence in TFI International's long-term prospects.

Negatives

• No new information regarding company performance or strategic changes is provided in this filing.
• The filing is purely an ownership disclosure and does not offer insights into operational improvements or challenges.

Risks

• While not a direct risk from this filing, significant institutional ownership can sometimes lead to activist investor pressure if performance falters.
• Concentration of ownership could potentially influence corporate decisions, though CDPQ's stated purpose is not to influence control.

Future Outlook

This filing does not contain forward-looking statements or guidance regarding TFI International's future performance.

Management Comments

• "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11."
• "After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct."

Industry Context

StockSavvy.ai notes that significant institutional ownership, as reported by Caisse de depot et placement du Quebec, is common in the transportation and logistics sector, reflecting investor confidence in established players like TFI International.

Stakeholder Impact

• Shareholders: Increased transparency regarding a significant institutional holder.
• Management: Reinforces the need for continued performance to satisfy major investors.
• Creditors: Stable, significant ownership can be viewed positively for long-term financial stability.

Next Steps

• Caisse de depot et placement du Quebec will continue to hold its shares in TFI International Inc.
• Future amendments to this Schedule 13G will be filed if ownership levels change significantly.

Key Dates

Keywords

TFI International, Caisse de depot et placement du Quebec, Schedule 13G, Institutional Ownership, Common Stock, Beneficial Ownership, Investment Holding