# NATIONAL BANK OF CANADA /FI/

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 926171. Source: https://holderbook.com/funds/926171-national-bank-of-canada-fi/

- Reported value: $139.8B
- Positions: 3,116
- Weight of the ten largest: 28.3%
- Filed: 2026-08-10

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $7.8B | 38,799,597 | 5.6% | 19 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $4.3B | 11,471,101 | 3.1% | 19 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $4.1B | 11,397,542 | 2.9% | 19 |
| MICRON TECHNOLOGY INC | [MU](https://holderbook.com/stocks/MU/) | $3.7B | 3,246,052 | 2.7% | 19 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $3.7B | 12,865,989 | 2.7% | 19 |
| ROYAL BK CDA | [RY](https://holderbook.com/stocks/RY/) | $3.4B | 16,356,045 | 2.4% | 19 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $3.4B | 14,113,689 | 2.4% | 19 |
| TORONTO DOMINION BK ONT | [TD](https://holderbook.com/stocks/TD/) | $3.3B | 27,343,546 | 2.4% | 19 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $3.2B | 5,666,938 | 2.3% | 19 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $2.7B | 7,277,531 | 2.0% | 19 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $2.5B | 7,050,507 | 1.8% | 19 |
| BANK MONTREAL MEDIUM | [BMO](https://holderbook.com/stocks/BMO/) | $1.8B | 10,405,423 | 1.3% | 19 |
| MICRON TECHNOLOGY INC | [MU](https://holderbook.com/stocks/MU/) | $1.8B | 0 | 1.3% | 3 |
| TESLA INC | [TSLA](https://holderbook.com/stocks/TSLA/) | $1.7B | 4,091,989 | 1.2% | 19 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $1.7B | 0 | 1.2% | 10 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $1.6B | 0 | 1.1% | 12 |
| CANADIAN IMPERIAL BANK OF CO | [CM](https://holderbook.com/stocks/CM/) | $1.6B | 13,539,141 | 1.1% | 19 |
| BANK NOVA SCOTIA B C | [BNS](https://holderbook.com/stocks/BNS/) | $1.4B | 15,686,925 | 1.0% | 19 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $1.3B | 0 | 0.9% | 15 |
| INTEL CORP | [INTC](https://holderbook.com/stocks/INTC/) | $1.2B | 8,756,909 | 0.9% | 19 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $1.2B | 0 | 0.9% | 14 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $1.2B | 3,531,066 | 0.8% | 19 |
| SHOPIFY INC | [SHOP](https://holderbook.com/stocks/SHOP/) | $1.1B | 10,020,663 | 0.8% | 19 |
| ENBRIDGE INC | [ENB](https://holderbook.com/stocks/ENB/) | $1.1B | 20,703,852 | 0.8% | 19 |
| MANULIFE FINL CORP | [MFC](https://holderbook.com/stocks/MFC/) | $1.1B | 26,549,435 | 0.8% | 19 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $1.1B | 0 | 0.8% | 3 |
| BROOKFIELD CORP | [BN](https://holderbook.com/stocks/BN/) | $1.0B | 24,328,364 | 0.7% | 14 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $1.0B | 2,064,664 | 0.7% | 19 |
| MARVELL TECHNOLOGY INC | [MRVL](https://holderbook.com/stocks/MRVL/) | $1.0B | 3,360,134 | 0.7% | 19 |
| PALANTIR TECHNOLOGIES INC | [PLTR](https://holderbook.com/stocks/PLTR/) | $958.3M | 8,213,944 | 0.7% | 19 |
| ADVANCED MICRO DEVICES INC | [AMD](https://holderbook.com/stocks/AMD/) | $933.9M | 1,607,891 | 0.7% | 19 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $889.5M | 0 | 0.6% | 1 |
| TAIWAN SEMICONDUCTOR MANUFAC | [TSM](https://holderbook.com/stocks/TSM/) | $888.4M | 1,860,966 | 0.6% | 19 |
| TESLA INC | [TSLA](https://holderbook.com/stocks/TSLA/) | $858.0M | 0 | 0.6% | 14 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $830.7M | 692,569 | 0.6% | 19 |
| CANADIAN NATL RY CO | [CNI](https://holderbook.com/stocks/CNI/) | $805.3M | 6,761,268 | 0.6% | 19 |
| PALANTIR TECHNOLOGIES INC | [PLTR](https://holderbook.com/stocks/PLTR/) | $763.0M | 0 | 0.5% | 5 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $758.2M | 6,455,364 | 0.5% | 19 |
| CANADIAN NAT RES LTD MED TER | [CNQ](https://holderbook.com/stocks/CNQ/) | $748.7M | 19,011,978 | 0.5% | 19 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $702.7M | 751,142 | 0.5% | 19 |
| MICRON TECHNOLOGY INC | [MU](https://holderbook.com/stocks/MU/) | $681.0M | 0 | 0.5% | 1 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $670.7M | 1,613,767 | 0.5% | 19 |
| TC ENERGY CORP | [TRP](https://holderbook.com/stocks/TRP/) | $661.4M | 10,054,565 | 0.5% | 19 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $660.6M | 5,832,209 | 0.5% | 19 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $643.1M | 0 | 0.5% | 4 |
| LAM RESEARCH CORP | [LRCX](https://holderbook.com/stocks/LRCX/) | $626.8M | 1,446,518 | 0.4% | 7 |
| SERVICENOW INC | [NOW](https://holderbook.com/stocks/NOW/) | $618.9M | 6,234,306 | 0.4% | 19 |
| CANADIAN PACIFIC KANSAS CITY | [CP](https://holderbook.com/stocks/CP/) | $610.3M | 7,056,476 | 0.4% | 13 |
| AGNICO EAGLE MINES LTD | [AEM](https://holderbook.com/stocks/AEM/) | $606.1M | 3,924,070 | 0.4% | 19 |
| SUNCOR ENERGY INC NEW | [SU](https://holderbook.com/stocks/SU/) | $598.7M | 11,148,622 | 0.4% | 19 |
| NETFLIX INC | [NFLX](https://holderbook.com/stocks/NFLX/) | $598.6M | 8,381,907 | 0.4% | 19 |
| WESTERN DIGITAL CORP | [WDC](https://holderbook.com/stocks/WDC/) | $581.0M | 909,546 | 0.4% | 19 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $567.3M | 0 | 0.4% | 15 |
| SERVICENOW INC | [NOW](https://holderbook.com/stocks/NOW/) | $546.0M | 0 | 0.4% | 2 |
| INTEL CORP | [INTC](https://holderbook.com/stocks/INTC/) | $509.7M | 0 | 0.4% | 11 |
| BCE INC | [BCE](https://holderbook.com/stocks/BCE/) | $498.7M | 23,165,717 | 0.4% | 19 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $493.4M | 3,608,624 | 0.4% | 19 |
| ADVANCED MICRO DEVICES INC | [AMD](https://holderbook.com/stocks/AMD/) | $493.2M | 0 | 0.4% | 2 |
| QUALCOMM INC | [QCOM](https://holderbook.com/stocks/QCOM/) | $490.3M | 2,653,357 | 0.4% | 19 |
| ADVANCED MICRO DEVICES INC | [AMD](https://holderbook.com/stocks/AMD/) | $485.1M | 0 | 0.3% | 12 |
| MARVELL TECHNOLOGY INC | [MRVL](https://holderbook.com/stocks/MRVL/) | $473.6M | 0 | 0.3% | 1 |
| KLA CORP | [KLAC](https://holderbook.com/stocks/KLAC/) | $464.4M | 1,539,211 | 0.3% | 19 |
| SUN LIFE FINANCIAL INC. | [SLF](https://holderbook.com/stocks/SLF/) | $457.8M | 5,850,227 | 0.3% | 19 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $452.4M | 880,967 | 0.3% | 19 |
| INTERNATIONAL BUSINESS MACHS | [IBM](https://holderbook.com/stocks/IBM/) | $434.6M | 1,545,593 | 0.3% | 19 |
| APPLIED MATLS INC | [AMAT](https://holderbook.com/stocks/AMAT/) | $415.9M | 575,240 | 0.3% | 19 |
| FORTIS INC | [FTS](https://holderbook.com/stocks/FTS/) | $399.6M | 6,992,312 | 0.3% | 19 |
| THE CIGNA GROUP | [CI](https://holderbook.com/stocks/CI/) | $396.0M | 1,436,453 | 0.3% | 19 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $389.7M | 6,840,690 | 0.3% | 19 |
| TAIWAN SEMICONDUCTOR MANUFAC | [TSM](https://holderbook.com/stocks/TSM/) | $382.1M | 0 | 0.3% | 1 |
| WHEATON PRECIOUS METALS CORP | [WPM](https://holderbook.com/stocks/WPM/) | $378.8M | 3,371,444 | 0.3% | 19 |
| NETFLIX INC | [NFLX](https://holderbook.com/stocks/NFLX/) | $377.9M | 0 | 0.3% | 7 |
| SANDISK CORP | [SNDK](https://holderbook.com/stocks/SNDK/) | $371.1M | 0 | 0.3% | 2 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $357.6M | 479,106 | 0.3% | 19 |
| WASTE CONNECTIONS INC | [WCN](https://holderbook.com/stocks/WCN/) | $351.3M | 2,114,692 | 0.3% | 19 |
| MCDONALDS CORP | [MCD](https://holderbook.com/stocks/MCD/) | $350.8M | 1,297,547 | 0.3% | 19 |
| CAMECO CORP | [CCJ](https://holderbook.com/stocks/CCJ/) | $345.8M | 3,420,928 | 0.2% | 19 |
| GOLDMAN SACHS GROUP INC | [GS](https://holderbook.com/stocks/GS/) | $342.7M | 338,807 | 0.2% | 19 |
| APPLIED MATLS INC | [AMAT](https://holderbook.com/stocks/AMAT/) | $339.8M | 0 | 0.2% | 2 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $333.3M | 1,312,753 | 0.2% | 19 |
| COCA COLA CO | [KO](https://holderbook.com/stocks/KO/) | $333.2M | 4,100,097 | 0.2% | 19 |
| ROGERS COMMUNICATIONS INC | [RCI](https://holderbook.com/stocks/RCI/) | $333.1M | 10,255,826 | 0.2% | 19 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $331.7M | 940,786 | 0.2% | 19 |
| GE AEROSPACE | [GE](https://holderbook.com/stocks/GE/) | $317.2M | 848,804 | 0.2% | 19 |
| BOOKING HOLDINGS INC | [BKNG](https://holderbook.com/stocks/BKNG/) | $316.3M | 1,774,284 | 0.2% | 19 |
| INTERNATIONAL BUSINESS MACHS | [IBM](https://holderbook.com/stocks/IBM/) | $314.3M | 0 | 0.2% | 1 |
| AMPHENOL CORP | [APH](https://holderbook.com/stocks/APH/) | $312.7M | 1,773,625 | 0.2% | 19 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $312.7M | 2,433,801 | 0.2% | 19 |
| FRANCO NEV CORP | [FNV](https://holderbook.com/stocks/FNV/) | $308.5M | 1,482,000 | 0.2% | 19 |
| TELUS CORPORATION | [TU](https://holderbook.com/stocks/TU/) | $304.3M | 28,782,793 | 0.2% | 19 |
| NUTRIEN LTD | [NTR](https://holderbook.com/stocks/NTR/) | $301.9M | 4,821,455 | 0.2% | 19 |
| CELESTICA INC | [CLS](https://holderbook.com/stocks/CLS/) | $294.6M | 809,426 | 0.2% | 9 |
| TEXAS INSTRS INC | [TXN](https://holderbook.com/stocks/TXN/) | $293.1M | 983,489 | 0.2% | 19 |
| ORACLE CORP | [ORCL](https://holderbook.com/stocks/ORCL/) | $283.3M | 1,931,417 | 0.2% | 19 |
| THE CIGNA GROUP | [CI](https://holderbook.com/stocks/CI/) | $272.1M | 0 | 0.2% | 1 |
| ANALOG DEVICES INC | [ADI](https://holderbook.com/stocks/ADI/) | $270.1M | 680,052 | 0.2% | 19 |
| PEMBINA PIPELINE CORP | [PBA](https://holderbook.com/stocks/PBA/) | $268.4M | 5,810,105 | 0.2% | 19 |
| RESTAURANT BRANDS INTL INC | [QSR](https://holderbook.com/stocks/QSR/) | $262.5M | 3,649,628 | 0.2% | 19 |
| CATERPILLAR INC | [CAT](https://holderbook.com/stocks/CAT/) | $258.3M | 242,726 | 0.2% | 19 |
| PROCTER & GAMBLE CO | [PG](https://holderbook.com/stocks/PG/) | $258.1M | 1,760,373 | 0.2% | 19 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +17.9% | +14.8% | +3.0% | 100% |
| Q1 2026 | -3.2% | -4.6% | +1.4% | 100% |
| Q4 2025 | +3.3% | +2.4% | +0.9% | 100% |
| Q3 2025 | +9.5% | +7.8% | +1.7% | 100% |
| Q2 2025 | +13.3% | +10.5% | +2.9% | 100% |
| Q1 2025 | -3.0% | -4.6% | +1.5% | 100% |
| Q4 2024 | -0.1% | +2.1% | -2.3% | 100% |
| Q3 2024 | +6.4% | +5.4% | +0.9% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $139.8B | 3,116 |
| Q1 2026 | $111.5B | 2,932 |
| Q4 2025 | $110.0B | 2,867 |
| Q3 2025 | $100.4B | 2,826 |
| Q2 2025 | $105.2B | 2,973 |
| Q1 2025 | $95.5B | 2,827 |
| Q4 2024 | $94.4B | 2,909 |
| Q3 2024 | $87.3B | 2,725 |
| Q2 2024 | $73.4B | 2,688 |
| Q1 2024 | $65.4B | 2,718 |
| Q4 2023 | $62.6B | 2,704 |
| Q3 2023 | $65.7B | 2,770 |