CDPQ reports 8.6% stake in TFI International (TFII)

Rhea-AI Filing Summary

Caisse de dépôt et placement du Québec (CDPQ) reports beneficial ownership of 7,085,634 shares of TFI International Inc. common stock, representing 8.6% of the class as of 12/31/2025. CDPQ has sole power to vote and dispose of all these shares.

CDPQ states that the securities were not acquired and are not held for the purpose of changing or influencing control of TFI International, but instead as a passive investment. The filing is signed by Soulef Hadjoudj, Senior Director Legal and Global Affairs at CDPQ.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

TFI International Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

87241L109

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 87241L109

1

Names of Reporting Persons

CAISSE DE DEPOT ET PLACEMENT DU QUEBEC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

QUEBEC, CANADA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 7,085,634.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 7,085,634.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

7,085,634.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

8.6 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

Item 1.
(a)	Name of issuer: TFI International Inc.
(b)	Address of issuer's principal executive offices: 8801 Trans-Canada Highway, Suite 500, Saint-Laurent, QC H4S 1Z6, Canada
Item 2.
(a)	Name of person filing: Caisse de depot et placement du Quebec
(b)	Address or principal business office or, if none, residence: 1000, Place Jean-Paul-Riopelle, Montreal (QC) H2Z 2B3, Canada
(c)	Citizenship: Quebec, Canada
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 87241L109
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 7,085,634
(b)	Percent of class: 8.6%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 7,085,634
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 7,085,634
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

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.

SIGNATURE

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.

CAISSE DE DEPOT ET PLACEMENT DU QUEBEC

Signature:	/s/ Soulef Hadjoudj
Name/Title:	Soulef Hadjoudj/Senior Director Legal and Global Affairs Caisse de depot et placement du Quebec
Date:	02/13/2026

FAQ

What ownership stake does Caisse de depot et placement du Quebec hold in TFI International (TFII)?

Caisse de dépôt et placement du Québec holds 7,085,634 shares of TFI International common stock, representing 8.6% of the outstanding class. This makes CDPQ a significant institutional shareholder with a notable minority position in the company’s equity structure.

Does CDPQ have voting control over its TFI International (TFII) shares?

CDPQ has sole voting power over all 7,085,634 TFI International shares it beneficially owns. It also has sole dispositive power over the same number of shares, meaning it alone decides how these shares are voted and whether or when they may be sold.

Is CDPQ’s investment in TFI International (TFII) intended to influence control of the company?

CDPQ certifies that its TFI International shares were not acquired, and are not held, to change or influence control of the company. The position is described as passive, rather than part of any control-seeking or activist transaction or group arrangement.

What class of securities of TFI International (TFII) does CDPQ own?

CDPQ’s reported holdings are in TFI International’s common stock, identified by CUSIP 87241L109. These common shares represent standard equity ownership in the company, with associated voting rights and economic interest, rather than preferred stock, debt, or derivative securities.

When is CDPQ’s 8.6% ownership in TFI International (TFII) measured?

CDPQ’s 8.6% ownership of TFI International common stock is calculated as of December 31, 2025. The reported 7,085,634 shares and corresponding percentage reflect its beneficial ownership on that specific date, based on the company’s then-outstanding share count.