BANK OF MONTREAL /CAN/

CIK 0000927971 · Q1 2026

13F Equity AUM

$268.4B

-7.0% QoQ

Positions

2,611

+14 QoQ

AUM Rank

#74

Top 0.6%

Skill Alpha (FF)

+0.3%/yr^ns

No Clear Edge

Rank #2,054 · Top 25%

vs S&P -3.8%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 17.1%Top 10: 28.0%Top 20: 40.9%

NVDA4.9%

RY3.8%

SPY3.1%

TD2.7%

AAPL2.7%

BUR2.6%

MSFT2.3%

AMZN2.3%

GOOGL2.2%

META1.6%

Others (2601)72.0%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Financial Services37.1%

Technology18.4%

Communication Services8.1%

Energy7.5%

Consumer Cyclical6.1%

Industrials5.9%

Basic Materials4.6%

Healthcare4.0%

Other8.2%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 2611Median: 0.00%Avg: 0.04%

0–0.5%

2570(45.0%)

0.5–1%

20(13.1%)

1–3%

18(30.2%)

3–5%

3(11.7%)

5%+

0(0.0%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 2,538Unique: 73vs 20 funds

34.4%Moderate

2,611

Fund positions

7,299

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

Most Similar Funds

Top 9 benchmark funds with highest portfolio overlap (Jaccard similarity)

MORGAN STANLEY

45.5%

BANK OF AMERICA CORP /DE/

49.9%

45.8%

47.1%

56.6%

43.3%

GEODE CAPITAL MANAGEMENT, LLC

40%

VANGUARD CAPITAL MANAGEMENT LLC

40.5%

VANGUARD PORTFOLIO MANAGEMENT LLC

41.5%

Jaccard similarity per fund: shared CUSIPs / (fund A + fund B − shared). Higher values indicate more similar portfolios.

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Position Changes This Quarter

New276Increased1320Decreased1263Exited236

New Positions

AZN0.1%

+1.9M

ADI0.1%

+441K

PNFP0.1%

+1.7M

ALB 7.25 03/01/270.0%

+1.2M

MDA0.0%

+1.9M

PNW 4.75 06/15/270.0%

+15.0M

STRZ0.0%

+1.8M

STRATEGY INC0.0%

+27.9M

LRN 1.125 09/01/270.0%

+13.0M

AKAM 0.375 09/01/270.0%

+25.0M

Increased

EVRG 4.5 12/15/270.0%

+23.3M(+4650%)

GPN 1.5 03/01/310.0%

+22.5M(+180%)

SNAP 0.5 05/01/300.0%

+20.0M(+182%)

JBTM 0.25 05/15/260.0%

+17.9M(+219%)

TLT0.9%

+14.7M(+106%)

KRE0.4%

+14.4M(+500%)

AKAM 1.125 02/15/290.0%

+11.0M(+34%)

MCHP 0.75 06/01/300.0%

+10.0M(+100%)

B0.5%

+9.9M(+40%)

XLB0.2%

+9.0M(+4312%)

Decreased

XLF0.0%

-126,866,565(-99%)

PCG 4.25 12/01/270.0%

-79,000,000(-66%)

XLI0.1%

-41,568,695(-94%)

FRPT 3 04/01/280.0%

-22,516,000(-34%)

MKSI 1.25 06/01/300.0%

-15,000,000(-38%)

FXI0.1%

-14,444,041(-77%)

DXCM 0.375 05/15/280.0%

-11,799,000(-86%)

HLN0.0%

-7,553,863(-89%)

ORCL0.2%

-7,321,612(-63%)

ON 0 05/01/270.0%

-7,018,000(-18%)

Exited

-3,277,737

-3,865,135

-2,284,920

-5,962,721

-15,000,000

-643,920

-21,500,000

-13,500,000

-907,873

-15,264,000

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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