# BANK OF MONTREAL /CAN/

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 927971. Source: https://holderbook.com/funds/927971-bank-of-montreal-can/

- Reported value: $303.7B
- Positions: 3,335
- Weight of the ten largest: 26.7%
- Filed: 2026-08-12

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/) | $13.2B | 50,415,330 | 4.3% | 31 |
| ROYAL BK CDA | [RY](https://holderbook.com/stocks/RY/) | $12.8B | 60,568,915 | 4.2% | 31 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $10.0B | 6,446,804 | 3.3% | 31 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $8.1B | 26,736,492 | 2.7% | 31 |
| TORONTO DOMINION BK ONT | [TD](https://holderbook.com/stocks/TD/) | $7.7B | 62,731,681 | 2.6% | 31 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $7.0B | 19,231,162 | 2.3% | 31 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $5.9B | 23,358,338 | 1.9% | 31 |
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $5.7B | 2,403,363 | 1.9% | 4 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $5.6B | 14,621,788 | 1.9% | 31 |
| BANK MONTREAL MEDIUM | [BMO](https://holderbook.com/stocks/BMO/) | $5.0B | 28,128,121 | 1.6% | 31 |
| CANADIAN IMPERIAL BANK OF CO | [CM](https://holderbook.com/stocks/CM/) | $5.0B | 42,547,730 | 1.6% | 31 |
| BURFORD CAPITAL LIMITED | [BUR](https://holderbook.com/stocks/BUR/) | $4.9B | 5,240,892 | 1.6% | 23 |
| ISHARES TR | [IWM](https://holderbook.com/stocks/IWM/) | $4.7B | 4,406,597 | 1.5% | 31 |
| BANK NOVA SCOTIA B C | [BNS](https://holderbook.com/stocks/BNS/) | $4.6B | 51,924,070 | 1.5% | 31 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $4.5B | 11,734,582 | 1.5% | 31 |
| ADVANCED MICRO DEVICES INC | [AMD](https://holderbook.com/stocks/AMD/) | $4.3B | 4,967,357 | 1.4% | 31 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $3.8B | 10,525,956 | 1.2% | 31 |
| ENBRIDGE INC | [ENB](https://holderbook.com/stocks/ENB/) | $3.4B | 61,486,532 | 1.1% | 31 |
| TESLA INC | [TSLA](https://holderbook.com/stocks/TSLA/) | $3.3B | 7,023,233 | 1.1% | 31 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $3.2B | 5,491,437 | 1.1% | 31 |
| ISHARES TR | [TLT](https://holderbook.com/stocks/TLT/) | $2.9B | 16,438,341 | 0.9% | 31 |
| MICRON TECHNOLOGY INC | [MU](https://holderbook.com/stocks/MU/) | $2.7B | 2,194,001 | 0.9% | 31 |
| CANADIAN NAT RES LTD MED TER | [CNQ](https://holderbook.com/stocks/CNQ/) | $2.6B | 64,790,046 | 0.9% | 31 |
| TC ENERGY CORP | [TRP](https://holderbook.com/stocks/TRP/) | $2.5B | 37,261,213 | 0.8% | 29 |
| NETFLIX INC | [NFLX](https://holderbook.com/stocks/NFLX/) | $2.4B | 30,878,034 | 0.8% | 31 |
| BROOKFIELD CORP | [BN](https://holderbook.com/stocks/BN/) | $2.4B | 56,708,514 | 0.8% | 15 |
| SUNCOR ENERGY INC NEW | [SU](https://holderbook.com/stocks/SU/) | $2.3B | 42,583,631 | 0.8% | 31 |
| MANULIFE FINL CORP | [MFC](https://holderbook.com/stocks/MFC/) | $2.3B | 56,769,350 | 0.8% | 31 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $2.1B | 1,724,702 | 0.7% | 31 |
| VANECK ETF TRUST | [GDX](https://holderbook.com/stocks/GDX/) | $1.9B | 24,332,431 | 0.6% | 31 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $1.9B | 5,811,029 | 0.6% | 31 |
| AGNICO EAGLE MINES LTD | [AEM](https://holderbook.com/stocks/AEM/) | $1.8B | 11,598,339 | 0.6% | 31 |
| CANADIAN NATL RY CO | [CNI](https://holderbook.com/stocks/CNI/) | $1.8B | 14,841,305 | 0.6% | 31 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $1.7B | 5,072,479 | 0.6% | 31 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $1.7B | 2,320,347 | 0.6% | 31 |
| CANADIAN PACIFIC KANSAS CITY | [CP](https://holderbook.com/stocks/CP/) | $1.7B | 19,886,289 | 0.6% | 13 |
| SHOPIFY INC | [SHOP](https://holderbook.com/stocks/SHOP/) | $1.6B | 13,770,055 | 0.5% | 31 |
| VANECK ETF TRUST | [SMH](https://holderbook.com/stocks/SMH/) | $1.5B | 105,839 | 0.5% | 30 |
| WASTE CONNECTIONS INC | [WCN](https://holderbook.com/stocks/WCN/) | $1.4B | 8,665,651 | 0.5% | 31 |
| GLOBAL X FDS | [PAVE](https://holderbook.com/stocks/PAVE/) | $1.4B | 24,488,508 | 0.5% | 22 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $1.4B | 12,397,848 | 0.5% | 31 |
| FORTIS INC | [FTS](https://holderbook.com/stocks/FTS/) | $1.4B | 24,632,401 | 0.5% | 31 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $1.4B | 1,434,743 | 0.5% | 31 |
| BARRICK MNG CORP | [B](https://holderbook.com/stocks/B/) | $1.3B | 35,751,217 | 0.4% | 5 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $1.3B | 2,612,621 | 0.4% | 31 |
| MORGAN STANLEY | [MS](https://holderbook.com/stocks/MS/) | $1.3B | 6,125,821 | 0.4% | 31 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $1.2B | 4,646,972 | 0.4% | 31 |
| PALANTIR TECHNOLOGIES INC | [PLTR](https://holderbook.com/stocks/PLTR/) | $1.2B | 9,454,670 | 0.4% | 23 |
| PALO ALTO NETWORKS INC | [PANW](https://holderbook.com/stocks/PANW/) | $1.2B | 2,971,233 | 0.4% | 31 |
| ISHARES TR | [IEFA](https://holderbook.com/stocks/IEFA/) | $1.2B | 12,139,091 | 0.4% | 31 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $1.1B | 19,984,898 | 0.4% | 31 |
| CROWDSTRIKE HLDGS INC | [CRWD](https://holderbook.com/stocks/CRWD/) | $1.1B | 1,447,499 | 0.4% | 28 |
| FRANCO NEV CORP | [FNV](https://holderbook.com/stocks/FNV/) | $1.1B | 5,361,688 | 0.4% | 31 |
| INTEL CORP | [INTC](https://holderbook.com/stocks/INTC/) | $1.1B | 7,749,654 | 0.4% | 31 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $1.1B | 2,117,873 | 0.4% | 31 |
| LAM RESEARCH CORP | [LRCX](https://holderbook.com/stocks/LRCX/) | $1.1B | 2,447,595 | 0.3% | 7 |
| WESTERN DIGITAL CORP | [WDC](https://holderbook.com/stocks/WDC/) | $1.0B | 1,634,675 | 0.3% | 31 |
| WHEATON PRECIOUS METALS CORP | [WPM](https://holderbook.com/stocks/WPM/) | $1.0B | 8,971,640 | 0.3% | 31 |
| VANGUARD INDEX FDS | [VOO](https://holderbook.com/stocks/VOO/) | $1.0B | 1,469,667 | 0.3% | 31 |
| PEMBINA PIPELINE CORP | [PBA](https://holderbook.com/stocks/PBA/) | $999.1M | 21,611,518 | 0.3% | 31 |
| SPDR GOLD TR | [GLD](https://holderbook.com/stocks/GLD/) | $994.8M | 1,251,197 | 0.3% | 1 |
| GOLDMAN SACHS GROUP INC | [GS](https://holderbook.com/stocks/GS/) | $984.2M | 973,106 | 0.3% | 31 |
| BROOKFIELD INFRASTRUCTURE PA | [BIP](https://holderbook.com/stocks/BIP/) | $980.1M | 26,790,302 | 0.3% | 31 |
| SUN LIFE FINANCIAL INC. | [SLF](https://holderbook.com/stocks/SLF/) | $975.7M | 12,232,736 | 0.3% | 31 |
| EMERA INC | [EMA](https://holderbook.com/stocks/EMA/) | $966.3M | 18,233,933 | 0.3% | 5 |
| BCE INC | [BCE](https://holderbook.com/stocks/BCE/) | $928.1M | 39,617,898 | 0.3% | 31 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $886.4M | 7,544,247 | 0.3% | 31 |
| NUTRIEN LTD | [NTR](https://holderbook.com/stocks/NTR/) | $880.4M | 13,797,719 | 0.3% | 31 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $873.2M | 3,470,007 | 0.3% | 31 |
| CENOVUS ENERGY INC | [CVE](https://holderbook.com/stocks/CVE/) | $863.3M | 32,921,767 | 0.3% | 31 |
| ROGERS COMMUNICATIONS INC | [RCI](https://holderbook.com/stocks/RCI/) | $846.5M | 24,593,817 | 0.3% | 31 |
| ISHARES INC | [IEMG](https://holderbook.com/stocks/IEMG/) | $838.2M | 10,117,805 | 0.3% | 31 |
| APPLIED MATLS INC | [AMAT](https://holderbook.com/stocks/AMAT/) | $831.2M | 1,059,621 | 0.3% | 31 |
| RESTAURANT BRANDS INTL INC | [QSR](https://holderbook.com/stocks/QSR/) | $828.9M | 11,295,632 | 0.3% | 31 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $799.4M | 1,773,763 | 0.3% | 31 |
| CITIGROUP INC | [C](https://holderbook.com/stocks/C/) | $786.3M | 5,618,362 | 0.3% | 31 |
| CATERPILLAR INC | [CAT](https://holderbook.com/stocks/CAT/) | $785.0M | 714,120 | 0.3% | 31 |
| CAMECO CORP | [CCJ](https://holderbook.com/stocks/CCJ/) | $749.8M | 7,363,367 | 0.2% | 31 |
| SPDR SERIES TRUST | [KRE](https://holderbook.com/stocks/KRE/) | $742.9M | 3,568,740 | 0.2% | 31 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $729.7M | 5,337,394 | 0.2% | 31 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $715.2M | 5,565,728 | 0.2% | 31 |
| TELUS CORPORATION | [TU](https://holderbook.com/stocks/TU/) | $664.3M | 60,099,611 | 0.2% | 31 |
| WESTERN DIGITAL CORP | - | $655.9M | 38,807,000 | 0.2% | 7 |
| GE VERNOVA INC | [GEV](https://holderbook.com/stocks/GEV/) | $641.5M | 538,022 | 0.2% | 9 |
| SEAGATE TECHNOLOGY HLDNGS PL | [STX](https://holderbook.com/stocks/STX/) | $635.8M | 658,813 | 0.2% | 21 |
| SNOWFLAKE INC | [SNOW](https://holderbook.com/stocks/SNOW/) | $625.7M | 2,381,901 | 0.2% | 24 |
| LUMENTUM HLDGS INC | [LITE](https://holderbook.com/stocks/LITE/) | $620.4M | 723,041 | 0.2% | 31 |
| KLA CORP | [KLAC](https://holderbook.com/stocks/KLAC/) | $608.4M | 2,016,482 | 0.2% | 31 |
| ORACLE CORP | [ORCL](https://holderbook.com/stocks/ORCL/) | $608.4M | 4,058,532 | 0.2% | 31 |
| PROCTER & GAMBLE CO | [PG](https://holderbook.com/stocks/PG/) | $606.4M | 4,130,633 | 0.2% | 31 |
| ISHARES TR | [EFA](https://holderbook.com/stocks/EFA/) | $598.1M | 4,674,517 | 0.2% | 31 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $595.4M | 1,688,244 | 0.2% | 31 |
| ISHARES TR | [IJR](https://holderbook.com/stocks/IJR/) | $592.7M | 3,996,639 | 0.2% | 31 |
| GENERAL DYNAMICS CORP | [GD](https://holderbook.com/stocks/GD/) | $588.6M | 1,609,653 | 0.2% | 31 |
| PARKER-HANNIFIN CORP | [PH](https://holderbook.com/stocks/PH/) | $576.5M | 589,356 | 0.2% | 31 |
| LINDE PLC | [LIN](https://holderbook.com/stocks/LIN/) | $575.9M | 1,109,685 | 0.2% | 14 |
| CELESTICA INC | [CLS](https://holderbook.com/stocks/CLS/) | $554.5M | 1,497,067 | 0.2% | 9 |
| VANECK ETF TRUST | [GDXJ](https://holderbook.com/stocks/GDXJ/) | $515.5M | 5,246,794 | 0.2% | 31 |
| ISHARES TR | [IJH](https://holderbook.com/stocks/IJH/) | $511.6M | 6,634,431 | 0.2% | 31 |
| COCA COLA CO | [KO](https://holderbook.com/stocks/KO/) | $508.8M | 6,260,246 | 0.2% | 31 |

## 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 | +12.0% | +14.8% | -2.8% | 90% |
| Q1 2026 | -2.0% | -4.6% | +2.6% | 86% |
| Q4 2025 | +3.4% | +2.4% | +1.0% | 91% |
| Q3 2025 | +8.8% | +7.8% | +1.0% | 93% |
| Q2 2025 | +12.5% | +10.5% | +2.0% | 93% |
| Q1 2025 | -3.6% | -4.6% | +1.0% | 93% |
| Q4 2024 | +0.8% | +2.1% | -1.4% | 94% |
| Q3 2022 | -7.3% | -5.3% | -1.9% | 63% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $303.7B | 3,335 |
| Q1 2026 | $268.5B | 3,220 |
| Q4 2025 | $288.7B | 3,181 |
| Q3 2025 | $260.7B | 3,108 |
| Q2 2025 | $213.2B | 3,176 |
| Q1 2025 | $205.8B | 3,147 |
| Q4 2024 | $214.7B | 3,155 |
| Q3 2024 | $227.4B | 3,451 |
| Q2 2024 | $344.5B | 3,502 |
| Q1 2024 | $329.8B | 3,503 |
| Q4 2023 | $329.7B | 3,486 |
| Q3 2023 | $288.9B | 3,306 |