BANK OF MONTREAL /CAN/
Long book
$243.10B
Q1 2026
Positions
3136
Top-10 weight
27%
concentration
Last quarter
+11.6%
SPY +14.8%
Turnover
14%
of book per quarter
Strategy in plain words
auto-generated from filingsBANK OF MONTREAL /CAN/ is a bank/brokerage whose filings mix client and house positions, running a $243.10B US long book across 3136 positions.
The portfolio is moderately concentrated (top 10 ≈ 27% of the book). Turnover is modest: positions are typically held for years. Current anchor positions: ROYAL BANK OF CANADA, NVIDIA CORP, TORONTO-DOMINION BANK, APPLE INC, BURFORD CAPITAL LTD.
Over the last 9 quarters its long book ran on average 0.3pp per quarter ahead of the S&P 500, beating the index in 5 of 9 quarters. Its holdings are mechanical (indexing / client flows), so position changes carry no stock-picking signal.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+7.2%
Q2 2024
+3.8%
Q3 2024
+1.3%
Q4 2024
-3.1%
Q1 2025
+12.9%
Q2 2025
+9.4%
Q3 2025
+2.6%
Q4 2025
-2.7%
Q1 2026
+11.6%
Sector allocation
Financials 26%
Technology 26%
Industrials 8%
Energy 7%
Consumer discretionary 7%
Utilities 6%
Materials 5%
Services media 5%
Long book by quarter
What does BANK OF own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| RY ROYAL BANK OF CANADA | Financials | 62.2M | $10.05B | 4.1% | +4.2% |
| NVDA NVIDIA CORP | Technology | 55.8M | $9.73B | 4.0% | +2.8% |
| TD TORONTO-DOMINION BANK | Financials | 75.3M | $7.04B | 2.9% | +8.0% |
| AAPL APPLE INC | Technology | 27.3M | $6.92B | 2.8% | -3.2% |
| BUR BURFORD CAPITAL LTD | Financials | 7.4M | $6.88B | 2.8% | +8.7% |
| GOOGL ALPHABET INC-CL A | Technology | 19.5M | $5.60B | 2.3% | -3.6% |
| MSFT MICROSOFT CORP | Technology | 15.0M | $5.56B | 2.3% | +5.7% |
| AMZN AMAZON.COM INC | Consumer discretionary | 24.6M | $5.13B | 2.1% | +12.7% |
| BNS BANK OF NOVA SCOTIA | Financials | 56.1M | $3.89B | 1.6% | -3.2% |
| CM CAN IMPERIAL BK OF COMMERCE | Financials | 40.9M | $3.88B | 1.6% | -3.5% |
| BMO BANK OF MONTREAL | Financials | 28.0M | $3.79B | 1.6% | -0.6% |
| TRP TC ENERGY CORP | Utilities | 54.3M | $3.40B | 1.4% | +10.0% |
| META META PLATFORMS INC-CLASS A | Technology | 5.9M | $3.38B | 1.4% | -28.5% |
| CNQ CANADIAN NATURAL RESOURCES | Energy | 63.9M | $3.12B | 1.3% | -8.0% |
| ENB ENBRIDGE INC | Energy | 57.2M | $3.10B | 1.3% | +3.1% |
| AVGO BROADCOM INC | Technology | 9.9M | $3.06B | 1.3% | -11.8% |
| GOOG ALPHABET INC-CL C | Technology | 9.9M | $2.83B | 1.2% | -11.8% |
| NFLX NETFLIX INC | Services media | 26.6M | $2.56B | 1.1% | +8.8% |
| TSLA TESLA INC | Industrials | 6.7M | $2.47B | 1.0% | -14.4% |
| SU SUNCOR ENERGY INC | Energy | 36.5M | $2.41B | 1.0% | -0.1% |
| BN BROOKFIELD CORP | Real estate | 54.8M | $2.22B | 0.9% | -7.3% |
| AEM AGNICO EAGLE MINES LTD | Materials | 10.4M | $2.11B | 0.9% | +7.9% |
| MFC MANULIFE FINANCIAL CORP | Financials | 57.3M | $1.97B | 0.8% | +0.8% |
| V VISA INC-CLASS A SHARES | Services media | 6.2M | $1.86B | 0.8% | +39.3% |
| JPM JPMORGAN CHASE & CO | Financials | 5.6M | $1.63B | 0.7% | -4.7% |
| SHOP SHOPIFY INC - CLASS A | Technology | 13.1M | $1.55B | 0.6% | +7.7% |
| CP CANADIAN PACIFIC KANSAS CITY | Industrials | 19.7M | $1.55B | 0.6% | -5.5% |
| WMT WALMART INC | Consumer discretionary | 12.4M | $1.54B | 0.6% | +1.7% |
| CNI CANADIAN NATL RAILWAY CO | Industrials | 14.0M | $1.44B | 0.6% | -1.3% |
| LLY ELI LILLY & CO | Healthcare | 1.5M | $1.39B | 0.6% | -7.5% |
| FTS FORTIS INC | Utilities | 24.8M | $1.38B | 0.6% | +1.1% |
| B BARRICK MINING CORP | Materials | 33.8M | $1.38B | 0.6% | +39.0% |
| COST COSTCO WHOLESALE CORP | Consumer discretionary | 1.4M | $1.37B | 0.6% | -23.5% |
| WCN WASTE CONNECTIONS INC | Utilities | 8.1M | $1.32B | 0.5% | -5.5% |
| FNV FRANCO-NEVADA CORP | Materials | 5.1M | $1.27B | 0.5% | -2.4% |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 2.5M | $1.20B | 0.5% | -12.0% |
| PLTR PALANTIR TECHNOLOGIES INC-A | Technology | 7.8M | $1.15B | 0.5% | -11.3% |
| WPM WHEATON PRECIOUS METALS CORP | Materials | 8.6M | $1.13B | 0.5% | +21.7% |
| JNJ JOHNSON & JOHNSON | Healthcare | 4.5M | $1.10B | 0.5% | -13.1% |
| MS MORGAN STANLEY | Financials | 6.7M | $1.10B | 0.5% | +0.4% |
| ESLT ELBIT SYSTEMS LTD | Industrials | 12.6K | $1.05B | 0.4% | -1.0% |
| AMD ADVANCED MICRO DEVICES | Technology | 5.1M | $1.04B | 0.4% | +10.8% |
| BAC BANK OF AMERICA CORP | Financials | 20.6M | $1.00B | 0.4% | -8.6% |
| MU MICRON TECHNOLOGY INC | Technology | 2.9M | $989.4M | 0.4% | +11.0% |
| GS GOLDMAN SACHS GROUP INC | Financials | 1.2M | $983.7M | 0.4% | -19.6% |
| NTR NUTRIEN LTD | Other | 12.9M | $972.8M | 0.4% | -18.3% |
| MA MASTERCARD INC - A | Services media | 1.9M | $954.4M | 0.4% | -8.0% |
| PBA PEMBINA PIPELINE CORP | Energy | 21.1M | $943.7M | 0.4% | -17.7% |
| EMA EMERA INC | Utilities | 17.9M | $925.7M | 0.4% | -0.6% |
| BCE BCE INC | Communications | 36.0M | $908.0M | 0.4% | -0.7% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 13, 2026 | 13875 | $268.54B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 12, 2026 | 13531 | $288.73B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 13, 2025 | 13045 | $260.69B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 5, 2025 | 13024 | $213.21B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 13, 2025 | 12894 | $205.80B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 13, 2025 | 12775 | $214.68B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 13, 2024 | 13901 | $227.42B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 12093 | $344.47B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 13, 2024 | 11983 | $329.82B | canonical | SEC ↗ |