NATIONAL BANK OF CANADA /FI/
SEC Form 13F institutional filer · CIK 0000926171
13F-HR · 523 reported holdings · 2026-03-31
Financial services firm, bank holding company.
Reported long-US-equity value
$66.41B
Top-10 concentration
46.2%
NATIONAL BANK OF CANADA /FI/ — $66.4B AUM allocation strategy
NATIONAL BANK OF CANADA /FI/ files SEC Form 13F and reports $66.4B of long US equity value across 523 reported holdings for 2026-03-31.
Its largest sector bet is Information Technology 32.3%, followed by Communication Services 10.5% and Consumer Discretionary 6.7%.
The top 10 holdings account for 46% of reported value — a broadly spread portfolio. The sector and industry splits below are of the same reported value. Track quarter-over-quarter adds, trims, new positions and exits below — sourced from SEC 13F filings, public domain.
NATIONAL BANK OF CANADA /FI/ — latest SEC 13F insights
Reported long-US-equity value (13F AUM)
$66.4B
total across 523 reported holdings · 2026-03-31 · excludes shorts, cash, non-US
Top-10 concentration
46% of value
higher = narrower conviction; lower = spread / hedging
Biggest adds (shares)
+$NVDA +13M sh · +$1.94B+$WBD +6.93M sh · +$182M+$BAC +4.33M sh · +$175M
Biggest trims (shares)
−$KVUE −3.65M sh · −$62.9M−$CTSH −3.34M sh · −$330M−$VICI −1.89M sh · −$53.5M
Added from nil (new positions)
None this quarter
Sector allocation (share of reported value)
each slice is a share of the reported long-US-equity value — smaller sectors and the rest of the book roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Industry allocation (share of reported value)
- Semiconductors16.9%—
- Interactive Media & Services10.5%—
- Technology Hardware, Storage & Peripherals6.9%—
- Systems Software6.6%—
- Broadline Retail3.7%—
- Automobile Manufacturers3.0%—
- Consumer Staples Merchandise Retail2.2%—
- Diversified Banks1.6%—
- Other holdings48.6%—
the finer GICS cut of the same book — same denominator — smaller industries roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Top S&P 500 holdings
10 of 10 rows · sorted by Value ↓
| Ticker | Holding | Shares | Value | Δ QoQ | Weight |
|---|---|---|---|---|---|
| $NVDA | NVIDIA Corporation | 39.9M | $6.96B | +13M | 10.5% |
| $AAPL | Apple Inc | 18M | $4.57B | +3.71M | 6.9% |
| $MSFT | Microsoft Corporation | 11.9M | $4.41B | +1.99M | 6.6% |
| $GOOG | Alphabet Inc. Class C Capital Stock | 10.7M | $3.09B | +996K | 4.7% |
| $AMZN | Amazon.com Inc | 11.7M | $2.44B | +928K | 3.7% |
| $GOOGL | Alphabet Inc | 7.64M | $2.19B | +1.34M | 3.3% |
| $TSLA | Tesla Inc | 5.34M | $1.99B | +24.1K | 3.0% |
| $AVGO | Broadcom Inc | 6.01M | $1.86B | -1.41M | 2.8% |
| $META | Meta Platforms Inc | 2.98M | $1.7B | -1.2M | 2.6% |
| $MU | Micron Technology Inc | 4.32M | $1.46B | +901K | 2.2% |
…and 513 more holdings in the full 13F filing (top positions only shown).
SEC Form 13F data sets · public domain · 45-day filing lag · >$100M AUM managers · as reported
← All 13F filers·← QuantOrb.pro
How to read Δ QoQ — the five insight categories, and the caveats
The categories. Analysts, quants and retail traders look past total portfolio value to isolate actionable signals. Five categories matter.
Conviction & concentration shifts
New positions vs complete exits — a brand-new stock signals high conviction; a full liquidation suggests a broken thesis or tax-loss harvesting. Aggressive sizing — look at share count, not dollars: a 20% share increase during a drawdown is strong dip-buying. Concentration — a narrowing top-5/10 means conviction; spreading capital across more names means hedging.
Sector & macro allocation rotations
Aggregating Δ QoQ moves across sectors shows where smart money is leaning in or sneaking out — rotating out of growth into defensives or energy, for example. The fund's total long equity exposure quarter-over-quarter is a proxy for overall institutional risk appetite.
Crowding & smart-money consensus
When several managers initiate or expand the same stock in the same quarter, that is institutional consensus. Contrarian reads: top pickers buying hard into a beaten-down name the market is selling.
Derivative & option overlays
Reported call/put changes indicate whether managers are adding downside hedges or leveraging upside exposure. Note: a long increase may be half of a market-neutral pair trade.
Who reads this
| Retail "cloners" | High-conviction ideas to replicate ~45 days after quarter-end. |
| Corporate IR | Which funds bought or dumped the stock, before the next call. |
| Quant / algo traders | Cross-sectional factor inputs: flow, momentum, ownership. |
Four caveats before you trade on it
- 45-day lag — holdings are quarter-end; positions may already be closed.
- Long-only — 13Fs miss shorts, pair trades and cash.
- No non-US / fixed income — the picture is US equities plus options.
- Corporate actions — splits and spinoffs distort raw share deltas.
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