National Bank of Canada portfolio

What changed this quarter

2404 positions with a change (354 new, 1060 added to, 781 trimmed, 209 sold); also, 19 entered through an IPO, 24 exited through an acquisition or merger, 5 entered through a spin-off. 7 are listed here: those of 0.5 points of the portfolio or more (up to 12).

• Meta Platforms+90%more sharesIncreased
  1.7% → 2.8%
• Apple−29%fewer sharesReduced
  4.7% → 3.3%
• Micron Technology−25%fewer sharesReduced
  1.5% → 3.3%
• UnitedHealth Group−58%fewer sharesReduced
  1.1% → 0.6%
• Advanced Micro Devices−64%fewer sharesReduced
  0.9% → 0.8%
• Marvell Technology+241%more sharesIncreased
  0.1% → 0.9%
• Amazon.com+20%more sharesIncreased
  2.5% → 2.9%

The figure on the right: for positions added to or trimmed, the change in the number of shares (%); for new and sold ones, the points of the portfolio moved (pp). Below, the portfolio weight before → after. Traded weight?: what it bought or sold, excluding price effects.

Top holdings

• NVIDIANVDA6.8%
• AlphabetGOOGL · GOOG5.8%
• MicrosoftMSFT3.7%
• Micron TechnologyMU3.3%
• AppleAAPL3.3%
• Royal Bank of CanadaRY3.0%
• Amazon.comAMZN2.9%
• Toronto Dominion BankTD2.9%
• Meta PlatformsMETA2.8%
• BroadcomAVGO2.4%
• Bank of MontrealBMO1.6%
• TeslaTSLA1.5%
• Canadian Imperial Bank of CommerceCM1.4%
• Bank of Nova ScotiaBNS1.2%
• IntelINTC1.1%
• JPMorgan ChaseJPM1.0%
• ShopifySHOP1.0%
• EnbridgeENB1.0%
• Manulife FinancialMFC0.9%
• BrookfieldBN0.9%
• Berkshire HathawayBRK/B0.9%
• Marvell TechnologyMRVL0.9%
• Palantir TechnologiesPLTR0.8%
• Advanced Micro DevicesAMD0.8%
• Taiwan Semiconductor ManufacturingTSM0.8%
• Eli LillyLLY0.7%
• Canadian National RailwayCNI0.7%
• Cisco SystemsCSCO0.7%
• Canadian Natural ResourcesCNQ0.7%
• Costco WholesaleCOST0.6%
• UnitedHealth GroupUNH0.6%
• TC EnergyTRP0.6%
• WalmartWMT0.6%
• Lam ResearchLRCX0.5%
• ServiceNowNOW0.5%
• Canadian Pacific Kansas CityCP0.5%
• Agnico Eagle MinesAEM0.5%
• Suncor EnergySU0.5%
• NetflixNFLX0.5%
• Western DigitalWDC0.5%
• BCEBCE0.4%
• Exxon MobilXOM0.4%
• QualcommQCOM0.4%
• KLAKLAC0.4%
• Sun Life FinancialSLF0.4%
• MastercardMA0.4%
• International Business MachinesIBM0.4%
• Applied MaterialsAMAT0.4%
• FortisFTS0.4%
• Cigna GroupCI0.3%
• Bank of AmericaBAC0.3%
• Wheaton Precious MetalsWPM0.3%
• State Str Spdr S&P 500 ETF TSPY0.3%
• Waste ConnectionsWCN0.3%
• McDONALD’SMCD0.3%
• CamecoCCJ0.3%
• Goldman Sachs GroupGS0.3%
• Johnson & JohnsonJNJ0.3%
• Coca-ColaKO0.3%
• Rogers CommunicationsRCI0.3%
• Home DepotHD0.3%
• GE AerospaceGE0.3%
• Booking HoldingsBKNG0.3%
• AmphenolAPH0.3%
• MerckMRK0.3%
• Franco NevadaFNV0.3%
• TelusTU0.3%
• NutrienNTR0.3%
• CelesticaCLS0.3%
• Texas InstrumentsTXN0.3%
• OracleORCL0.2%
• Analog DevicesADI0.2%
• Pembina PipelinePBA0.2%
• Restaurant Brands InternationalQSR0.2%
• CaterpillarCAT0.2%
• Procter & GamblePG0.2%
• Palo Alto NetworksPANW0.2%
• iShares Msci Acwi ETFACWI0.2%
• Bloom EnergyBE0.2%
• Gilead SciencesGILD0.2%
• Kinross GoldKGC0.2%
• Seagate Technology HoldingsSTX0.2%
• CorningGLW0.2%
• Cenovus EnergyCVE0.2%
• VisaV0.2%
• Thermo Fisher ScientificTMO0.2%
• PepsicoPEP0.2%
• Walt DisneyDIS0.2%
• ChevronCVX0.2%
• TECK ResourcesTECK0.2%
• UBER TechnologiesUBER0.2%
• PDD HoldingsPDD0.2%
• AbbVieABBV0.2%
• Warner Bros. DiscoveryWBD0.2%
• Avis Budget GroupCAR0.2%
• Revolution MedicinesRVMD0.2%
• Wells FargoWFC0.2%
• EmeraEMA0.2%
• Alibaba Group HoldingBABA0.2%