NATIONAL BANK OF CANADA /FI/

Bank

CIK

926171

Location

MONTREAL, A8

Portfolio Value

Large $92,524,725,812

Diversification

Diversified

Filing Date

Global Rank

#82 / 8,617 ▲ 2 · as of Mar 2026

Top Industry

Semiconductors 14.1%

3Y Alpha vs SPY

-0.6%

Period ended 4 months ago

Filed May 15, 2026 · 2mo

18 quarters · since Dec 2021

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+67.8%

SPY

+69.4%

Annualised alpha

-0.4%

Max drawdown

−17.0%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

1,830 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

7.5%

+2.1 pts

Top 5

23.4%

+2.2 pts

Top 10

34.8%

−0.1 pts

HHI

183

Diversified+21

Portfolio Trend

18 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Technology	33.0%	$30,505,839,381	280
Financial Services	18.9%	$17,463,073,239	250
Communication Services	8.6%	$7,990,165,761	83
Consumer Cyclical	8.4%	$7,762,722,960	207
Industrials	7.1%	$6,607,738,467	240
Healthcare	6.9%	$6,338,076,519	275
Energy	5.8%	$5,338,051,028	99
Basic Materials	4.0%	$3,727,622,713	154
Consumer Defensive	3.8%	$3,501,157,737	87
Utilities	2.0%	$1,854,559,891	55
Real Estate	0.8%	$747,776,111	67
Unclassified	0.7%	$687,942,005	33

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
NVDA	Nvidia Corp	+12,980,140	39,888,153	$6,956,493,881
WBD	Warner Bros. Discovery, Inc.	+6,928,490	13,299,527	$365,205,009
BAC	Bank Of America Corp /De/	+4,328,783	10,049,780	$489,926,773
ROIV	Roivant Sciences Ltd.	+4,258,000	6,298,000	$174,454,600
MFC	Manulife Financial Corp	+4,247,511	26,160,388	$900,963,760
AAPL	Apple Inc.	+3,707,421	17,998,880	$4,567,935,752
SHOP	Shopify Inc.	+3,394,298	12,811,918	$1,519,749,711
BTE	Baytex Energy Corp.	+3,026,179	4,908,778	$21,942,236
AMD	Advanced Micro Devices Inc	+2,645,339	4,517,318	$918,957,998
ABEV	Ambev S.A.	+2,562,533	2,758,718	$8,055,456
NEOG	Neogen Corp	+2,500,000	3,500,000	$32,515,000
BTG	B2gold Corp	+2,437,977	6,995,534	$31,689,767
MSFT	Microsoft Corp	+1,989,133	11,902,573	$4,405,975,445
WMT	Walmart Inc.	+1,896,703	6,358,346	$790,215,238
TD	Toronto Dominion Bank	+1,791,733	27,422,403	$2,558,784,421
UBER	Uber Technologies, Inc	+1,728,097	3,757,685	$270,290,279
NOW	ServiceNow, Inc.	+1,561,278	2,366,262	$247,392,689
SEE	SEALED AIR CORP/DE	+1,534,005	1,845,021	$77,583,133
UNH	Unitedhealth Group Inc	+1,484,528	3,826,523	$1,035,418,856
DXCM	Dexcom Inc	+1,417,670	1,870,971	$117,496,978
HIMS	Hims & Hers Health, Inc.	+1,411,490	1,419,875	$29,476,605
IONQ	IonQ, Inc.	+1,315,157	1,333,373	$38,441,142
CSX	Csx Corp	+1,300,282	3,941,319	$161,791,142
VALE	Vale S.A.	+1,201,273	1,305,685	$20,773,447
BN	BROOKFIELD Corp /ON/	+1,180,821	24,212,041	$979,861,297
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
CNQ	CANADIAN NATURAL RESOURCES Ltd	−6,562,364	12,004,421	$584,975,433
BHC	Bausch Health Companies Inc.	−4,931,952	383,717	$2,072,071
CVE	Cenovus Energy Inc.	−4,120,711	8,804,505	$233,583,516
BP	Bp PLC	−3,760,479	1,568,509	$73,719,923
KVUE	Kenvue Inc.	−3,647,434	1,392,974	$24,014,870
UBS	UBS Group AG	−3,548,050	33,751	$1,318,650
CTSH	Cognizant Technology Solutions Corp	−3,336,295	2,434,798	$149,374,856
AUR	Aurora Innovation, Inc.	−3,100,857	8,944	$36,849
VICI	Vici Properties Inc.	−1,891,596	443,134	$12,106,420
HPQ	Hp Inc	−1,845,393	494,625	$9,501,744
VZ	Verizon Communications Inc	−1,784,072	2,135,819	$107,218,112
MLCO	Melco Resorts & Entertainment LTD	−1,645,816	1	$5
PRMB	Primo Brands Corp	−1,546,960	63	$1,186
NVO	Novo Nordisk A S	−1,438,959	710,082	$26,095,512
NKE	NIKE, Inc.	−1,438,354	517,067	$27,311,477
BNS	Bank Of Nova Scotia	−1,414,079	16,409,996	$1,137,376,821
AVGO	Broadcom Inc.	−1,405,958	6,006,872	$1,859,186,950
SU	Suncor Energy Inc	−1,226,854	10,249,189	$677,573,884
GPN	Global Payments Inc	−1,220,113	139,292	$9,374,350
META	Meta Platforms, Inc.	−1,198,504	2,978,516	$1,704,098,357
NU	Nu Holdings Ltd.	−1,153,156	413,422	$5,940,873
NCLH	Norwegian Cruise Line Holdings Ltd.	−1,152,044	2,314,013	$43,272,042
CVX	Chevron Corp	−1,115,119	666,513	$137,901,537
RIVN	Rivian Automotive, Inc. / DE	−1,112,557	242,038	$3,642,671
COO	Cooper Companies, Inc.	−1,063,800	65,532	$4,685,537
No positions match the current search.

New Positions

Positions the filer opened this quarter

25 positions

Ticker	Company	Shares	Value
AZN	Astrazeneca PLC	2,137,511	$421,559,918
RVMD	Revolution Medicines, Inc.	1,749,000	$170,090,250
IREN	IREN Ltd	1,680,000	$57,590,400
ONDS	Ondas Inc.	4,221,620	$38,163,444
FTAI	FTAI Aviation Ltd.	138,203	$33,859,735
BIO	Bio-Rad Laboratories, Inc.	90,000	$25,087,500
ASND	Ascendis Pharma A/S	80,017	$18,302,288
MDA	MDA Space Ltd.	644,509	$16,318,967
ITT	Itt Inc.	74,800	$14,251,644
FOXF	Fox Factory Holding Corp	800,000	$13,168,000
AXS	Axis Capital Holdings Ltd	90,414	$9,168,883
TS	Tenaris SA	145,855	$8,485,843
PEN	Penumbra Inc	22,000	$7,224,140
LUNR	Intuitive Machines, Inc.	382,227	$7,094,133
PR	Permian Resources Corp	303,456	$6,469,681
DQ	Daqo New Energy Corp.	303,700	$6,459,699
WH	Wyndham Hotels & Resorts, Inc.	70,800	$5,751,084
FOUR	Shift4 Payments, Inc.	124,546	$5,446,396
PL	Planet Labs PBC	151,500	$4,234,425
WING	Wingstop Inc.	25,358	$3,929,729
YMM	Full Truck Alliance Co. Ltd.	406,044	$3,370,165
PB	Prosperity Bancshares Inc	47,244	$3,173,851
UGI	Ugi Corp /Pa/	79,617	$2,899,651
TKR	Timken Co	28,186	$2,834,666
DDS	Dillard's, Inc.	4,200	$2,402,862
No positions match the current search.

Sold Out

Positions the filer fully exited

25 positions

Ticker	Company	Shares	Value
REXR	Rexford Industrial Realty, Inc.	2,098,000	$81,234,560
BOX	Box Inc	600,000	$17,946,000
WFRD	Weatherford International plc	212,142	$16,602,232
EDU	New Oriental Education & Technology Group Inc.	268,400	$14,770,052
BRX	Brixmor Property Group Inc.	556,430	$14,589,594
NGD	New Gold Inc. /FI	1,625,662	$14,159,514
GRTUF	Granite Real Estate Investment Trust	225,133	$13,325,620
HCC	Warrior Met Coal, Inc.	85,404	$7,530,070
EXAS	EXACT SCIENCES CORP	57,152	$5,804,357
MANH	Manhattan Associates Inc	26,168	$4,535,176
SGML	Sigma Lithium Corp	336,600	$4,439,754
AEHR	Aehr Test Systems	206,011	$4,159,362
CAPR	Capricor Therapeutics, Inc.	143,500	$4,141,410
TIGR	UP Fintech Holding Ltd	430,920	$4,119,595
BJRI	BJs RESTAURANTS INC	100,000	$3,940,000
LW	Lamb Weston Holdings, Inc.	88,548	$3,709,274
R	Ryder System Inc	19,094	$3,654,400
APLD	Applied Digital Corp.	121,000	$2,966,920
MSM	Msc Industrial Direct Co Inc	30,965	$2,604,156
CR	Crane Co	11,334	$2,090,329
PBI	Pitney Bowes Inc /De/	187,338	$1,980,162
BMRN	Biomarin Pharmaceutical Inc	27,600	$1,640,268
NEU	Newmarket Corp	1,843	$1,266,619
AWI	Armstrong World Industries Inc	6,041	$1,154,435
EHC	Encompass Health Corp	9,826	$1,042,931
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

1,830 positions · $92,524,725,812 total · as of Mar 31, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 1,830 positions by value · page 1 of 37

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
NVDA	Nvidia Corp Technology	Added	39,888,153	+12,980,140	$6,956,493,881	+38.6%	7.52%
AAPL	Apple Inc. Technology	Added	17,998,880	+3,707,421	$4,567,935,752	+17.6%	4.94%
MSFT	Microsoft Corp Technology	Added	11,902,573	+1,989,133	$4,405,975,445	−8.1%	4.76%
GOOGL	Alphabet Inc. Communication Services	Added	10,746,678	+996,088	$3,090,314,724	+1.3%	3.34%
RY	Royal Bank Of Canada Financial Services	Reduced	16,182,381	-435,759	$2,617,985,596	−7.6%	2.83%
TD	Toronto Dominion Bank Financial Services	Added	27,422,403	+1,791,733	$2,558,784,421	+6.0%	2.77%
AMZN	Amazon Com Inc Consumer Cyclical	Added	11,718,509	+927,555	$2,440,613,868	−2.0%	2.64%
TSLA	Tesla, Inc. Consumer Cyclical	Added	5,341,342	+24,059	$1,985,643,887	−17.0%	2.15%
AVGO	Broadcom Inc. Technology	Reduced	6,006,872	-1,405,958	$1,859,186,950	−27.5%	2.01%
META	Meta Platforms, Inc. Communication Services	Reduced	2,978,516	-1,198,504	$1,704,098,357	−38.2%	1.84%
SHOP	Shopify Inc. Technology	Added	12,811,918	+3,394,298	$1,519,749,711	+0.3%	1.64%
MU	Micron Technology Inc Technology	Added	4,323,263	+901,463	$1,460,571,170	+49.6%	1.58%
BMO	Bank Of Montreal /Can/ Financial Services	Reduced	10,760,298	-243,123	$1,456,298,729	+2.0%	1.57%
CM	Canadian Imperial Bank Of Commerce /Can/ Financial Services	Reduced	12,952,062	-637,764	$1,227,207,874	−0.3%	1.33%
BNS	Bank Of Nova Scotia Financial Services	Reduced	16,409,996	-1,414,079	$1,137,376,821	−13.4%	1.23%
JPM	Jpmorgan Chase & Co Financial Services	Added	3,696,591	+915,264	$1,087,389,206	+21.3%	1.18%
ENB	Enbridge Inc Energy	Reduced	19,496,834	-595,289	$1,055,558,591	+9.8%	1.14%
UNH	Unitedhealth Group Inc Healthcare	Added	3,826,523	+1,484,528	$1,035,418,856	+33.9%	1.12%
BN	BROOKFIELD Corp /ON/ Financial Services	Added	24,212,041	+1,180,821	$979,861,297	−7.3%	1.06%
AMD	Advanced Micro Devices Inc Technology	Added	4,517,318	+2,645,339	$918,957,998	+129.2%	0.99%
MFC	Manulife Financial Corp Financial Services	Added	26,160,388	+4,247,511	$900,963,760	+13.3%	0.97%
WMT	Walmart Inc. Consumer Defensive	Added	6,358,346	+1,896,703	$790,215,238	+59.0%	0.85%
AEM	Agnico Eagle Mines Ltd Basic Materials	Reduced	3,664,691	-125,144	$743,858,978	+15.8%	0.80%
PLTR	Palantir Technologies Inc. Technology	Added	4,719,275	+580,919	$690,335,544	−6.2%	0.75%
CNI	Canadian National Railway Co Industrials	Reduced	6,685,129	-25,090	$687,030,706	+3.6%	0.74%
HON	Honeywell International Inc Industrials	Added	2,871,751	+48,653	$680,757,187	+17.9%	0.74%
SU	Suncor Energy Inc Energy	Reduced	10,249,189	-1,226,854	$677,573,884	+33.1%	0.73%
COST	Costco Wholesale Corp /New Consumer Defensive	Reduced	662,080	-123,345	$659,716,372	−2.6%	0.71%
TRP	Tc Energy Corp Energy	Reduced	10,335,091	-850,782	$646,976,696	+5.1%	0.70%
TSM	Taiwan Semiconductor Manufacturing Co Ltd Technology	Added	1,749,057	+1,012,599	$591,093,812	+164.1%	0.64%
CNQ	CANADIAN NATURAL RESOURCES Ltd Energy	Reduced	12,004,421	-6,562,364	$584,975,433	−6.9%	0.63%
CSCO	Cisco Systems, Inc. Technology	Added	7,382,173	+728,646	$572,782,801	+11.8%	0.62%
LLY	ELI LILLY & Co Healthcare	Reduced	620,178	-4,520	$570,421,117	−15.0%	0.62%
BRK-B	Berkshire Hathaway Inc Financial Services	Added	1,186,389	+42,798	$568,517,607	−1.1%	0.61%
CP	Canadian Pacific Kansas City Ltd/Cn Industrials	Reduced	7,080,217	-18,443	$556,929,867	+6.6%	0.60%
BCE	Bce Inc Communication Services	Reduced	21,250,639	-297,480	$536,366,127	+4.5%	0.58%
LRCX	Lam Research Corp Technology	Added	2,474,441	+298,333	$528,689,062	+41.9%	0.57%
NFLX	Netflix Inc Communication Services	Reduced	5,317,300	-480,096	$511,258,394	−5.9%	0.55%
BAC	Bank Of America Corp /De/ Financial Services	Added	10,049,780	+4,328,783	$489,926,773	+55.7%	0.53%
ORCL	Oracle Corp Technology	Reduced	2,950,290	-562,907	$434,017,160	−36.6%	0.47%
JNJ	Johnson & Johnson Healthcare	Reduced	1,731,044	-132,224	$423,136,394	+9.7%	0.46%
AZN	Astrazeneca PLC Healthcare	NEW	2,137,511	NEW	$421,559,918	NEW	0.46%
RCI	Rogers Communications Inc Communication Services	Added	10,957,289	+1,149,559	$421,307,760	+13.9%	0.46%
SLF	Sun Life Financial Inc Financial Services	Added	6,679,041	+360,872	$417,840,803	+6.0%	0.45%
WPM	Wheaton Precious Metals Corp. Basic Materials	Reduced	3,175,087	-125,365	$415,968,147	+7.2%	0.45%
INTC	Intel Corp Technology	Added	9,217,072	+372,015	$406,749,385	+24.6%	0.44%
AMAT	Applied Materials Inc /De Technology	Added	1,168,471	+183,789	$399,371,700	+57.8%	0.43%
MA	Mastercard Inc Financial Services	Added	790,706	+3,168	$395,084,157	−12.1%	0.43%
HD	Home Depot, Inc. Consumer Cyclical	Added	1,196,798	+262,775	$393,614,891	+22.5%	0.43%
FTS	Fortis Inc. Utilities	Reduced	6,783,283	-556,762	$378,439,356	−0.7%	0.41%