BANK OF MONTREAL /CAN/ quarter change: Foreign Stocks, Reduced
In share positions in stocks (depositary receipts and foreign shares traded over the counter), from the quarter ended 2026-03-31 to 2026-06-30, BANK OF MONTREAL /CAN/ opened 7 positions, added to 66, reduced 47, sold out of 10 and left 0 unchanged. The largest increase in value was TSM (+$129,353,175); the largest decrease was SHEL (-$196,847,566).
- SHEL: Country of operation —; Class SPON ADS; Shares 2026-03-31 3,862,524; Shares 2026-06-30 2,093,979.
- VALE: Country of operation —; Class SPONSORED ADS; Shares 2026-03-31 7,082,535; Shares 2026-06-30 600,282.
- BUD: Country of operation —; Class SPONSORED ADR; Shares 2026-03-31 976,894; Shares 2026-06-30 35,665.
- NGG: Country of operation —; Class SPONSORED ADR NE; Shares 2026-03-31 1,061,874; Shares 2026-06-30 455,287.
Two Form 13F-HR filings compared (SEC CIK 927971): 2026-03-31 (filed 2026-05-13) and 2026-06-30 (filed 2026-08-12). Rows for the same security, class and put/call are added together. Value change is the filed value at each quarter end, so it includes the price move; share change is the position change.
| Stock | Country of operation | Class | Shares 2026-03-31 | Shares 2026-06-30 | Share change | Value 2026-03-31 | Value 2026-06-30 | Value change |
|---|
SHEL
SHELL PLC | | SPON ADS | 3,862,524 | 2,093,979 | -1,768,545 | $359,214,700 | $162,367,134 | -$196,847,566 |
|---|
VALE
VALE S A | | SPONSORED ADS | 7,082,535 | 600,282 | -6,482,253 | $112,683,132 | $9,028,242 | -$103,654,890 |
|---|
BUD
ANHEUSER BUSCH INBEV SA NV | | SPONSORED ADR | 976,894 | 35,665 | -941,229 | $67,767,136 | $2,938,796 | -$64,828,340 |
|---|
NGG
NATIONAL GRID PLC | | SPONSORED ADR NE | 1,061,874 | 455,287 | -606,587 | $89,834,501 | $37,729,594 | -$52,104,907 |
|---|
GSK
GSK PLC | | SPONSORED ADR | 4,639,799 | 4,042,863 | -596,936 | $256,070,506 | $211,926,879 | -$44,143,627 |
|---|
BHP
BHP BILLITON LIMITED | | SPONSORED ADS | 1,143,647 | 508,813 | -634,834 | $83,188,859 | $42,389,183 | -$40,799,676 |
|---|
SNN
SMITH & NEPHEW PLC | | SPDN ADR NEW | 2,243,019 | 1,145,234 | -1,097,785 | $71,283,144 | $32,994,191 | -$38,288,953 |
|---|
SE
SEA LTD | Singapore | SPONSORD ADS | 649,388 | 188,664 | -460,724 | $53,775,820 | $18,079,671 | -$35,696,149 |
|---|
PBR
PETROLEO BRASILEIRO S A | | SPONSORED ADR | 1,835,572 | 256,066 | -1,579,506 | $38,088,119 | $4,138,027 | -$33,950,092 |
|---|
AMX
AMERICA MOVIL SAB DE CV | | SPON ADS RP CL B | 1,262,926 | 73,867 | -1,189,059 | $32,179,355 | $1,919,803 | -$30,259,552 |
|---|
DEO
DIAGEO PLC | | SPON ADR NEW | 1,446,618 | 1,019,148 | -427,470 | $107,700,711 | $81,919,116 | -$25,781,595 |
|---|
NVS
NOVARTIS AG | | SPONSORED ADR | 259,345 | 104,932 | -154,413 | $39,614,993 | $16,444,988 | -$23,170,005 |
|---|
GRFS
GRIFOLS S A | | SP ADR REP B NVT | 2,506,278 | 227,910 | -2,278,368 | $20,100,349 | $1,613,603 | -$18,486,746 |
|---|
IBN
ICICI BANK LIMITED | | ADR | 901,115 | 234,493 | -666,622 | $23,338,878 | $6,807,332 | -$16,531,546 |
|---|
RELX
RELX PLC | | SPONSORED ADR | 586,642 | 100,631 | -486,011 | $19,447,182 | $3,186,984 | -$16,260,198 |
|---|
VOD
VODAFONE GROUP PLC | | SPONSORED ADR | 2,506,159 | 1,882,117 | -624,042 | $37,642,509 | $24,890,997 | -$12,751,512 |
|---|
PDD
PDD HOLDINGS INC | | SPONSORED ADS | 330,239 | 292,093 | -38,146 | $33,743,820 | $22,280,853 | -$11,462,967 |
|---|
HDB
HDFC BANK LTD | | SPONSORED ADS | 2,997,676 | 2,494,804 | -502,872 | $74,582,180 | $64,440,787 | -$10,141,393 |
|---|
PAC
GRUPO AEROPORTUNARIO DEL PAC | | SPON ADS B | 50,454 | 11,820 | -38,634 | $12,455,579 | $2,992,351 | -$9,463,228 |
|---|
ARGX
ARGENX SE | | SPONSORED ADR | 85,333 | 77,213 | -8,120 | $62,314,424 | $71,635,905 | +$9,321,481 |
|---|
ATAT
ATOUR LIFESTYLE HLDGS LTD | | SPONSORED ADS | 693,075 | 584,986 | -108,089 | $25,512,090 | $18,602,555 | -$6,909,535 |
|---|
HTHT
H WORLD GROUP LTD | | SPONSORED ADS | 86,298 | 20,345 | -65,953 | $4,339,926 | $848,794 | -$3,491,132 |
|---|
EQNR
EQUINOR ASA | | SPONSORED ADR | 148,079 | 130,488 | -17,591 | $6,248,934 | $4,097,323 | -$2,151,611 |
|---|
GFI
GOLD FIELDS LTD | | SPONSORED ADR | 159,445 | 153,218 | -6,227 | $7,238,803 | $5,146,593 | -$2,092,210 |
|---|
SBSW
SIBANYE STILLWATER LTD | | SPONSORED ADR | 243,408 | 115,396 | -128,012 | $2,998,786 | $979,712 | -$2,019,074 |
|---|
SQM
SOCIEDAD QUIMICA Y MINERA DE | | SPON ADR SER B | 163,854 | 159,675 | -4,179 | $13,262,343 | $11,822,336 | -$1,440,007 |
|---|
NIO
NIO INC | China | SPON ADS | 265,985 | 78,765 | -187,220 | $1,603,889 | $398,551 | -$1,205,338 |
|---|
UMC
UNITED MICROELECTRONICS CORP | | SPON ADR NEW | 77,966 | 69,708 | -8,258 | $700,135 | $1,896,754 | +$1,196,619 |
|---|
SLN
SILENCE THERAPEUTICS PLC | | ADS | 202,901 | 201,734 | -1,167 | $1,069,288 | $2,215,039 | +$1,145,751 |
|---|
XPEV
XPENG INC | | ADS | 74,512 | 14,660 | -59,852 | $1,274,901 | $194,098 | -$1,080,803 |
|---|
HLN
HALEON PLC | | SPON ADS | 946,633 | 908,864 | -37,769 | $9,475,797 | $8,479,701 | -$996,096 |
|---|
ONC
BEONE MEDICINES LTD | | SPONSORED ADS | 8,145 | 5,021 | -3,124 | $2,418,821 | $1,430,834 | -$987,987 |
|---|
ASX
ASE TECHNOLOGY HLDG CO LTD | | SPONSORED ADS | 47,347 | 41,574 | -5,773 | $1,026,483 | $1,875,819 | +$849,336 |
|---|
MUFG
MITSUBISHI UFJ FINANCIAL GRO | | SPONSORED ADS | 249,766 | 172,564 | -77,202 | $4,238,530 | $3,432,297 | -$806,233 |
|---|
ING
ING GROEP N.V. | | SPONSORED ADR | 365,415 | 327,347 | -38,068 | $9,519,062 | $10,272,149 | +$753,087 |
|---|
SONY
SONY GROUP CORP | | SPONSORED ADR | 605,752 | 588,459 | -17,293 | $12,539,068 | $11,804,488 | -$734,580 |
|---|
ZTO
ZTO EXPRESS CAYMAN INC | | SPONSORED ADS A | 39,216 | 12,704 | -26,512 | $987,067 | $284,316 | -$702,751 |
|---|
PBRA
PETROLEO BRASILEIRO S A | | SP ADR NON VTG | 87,238 | 70,028 | -17,210 | $1,635,712 | $1,025,210 | -$610,502 |
|---|
FMX
FOMENTO ECONOMICO MEXICANO S | | SPON ADR UNITS | 30,333 | 30,068 | -265 | $3,368,783 | $3,845,698 | +$476,915 |
|---|
VIPS
VIPSHOP HLDGS LTD | | SPONSORED ADS A | 173,831 | 170,831 | -3,000 | $2,732,623 | $2,265,219 | -$467,404 |
|---|
PKX
POSCO HOLDINGS INC | | SPONSORED ADR | 38,404 | 35,124 | -3,280 | $2,246,250 | $1,804,671 | -$441,579 |
|---|
PSO
PEARSON PLC | | SPONSORED ADR | 173,155 | 168,254 | -4,901 | $2,273,526 | $2,673,556 | +$400,030 |
|---|
HMY
HARMONY GOLD MNG LTD | | SPONSORED ADR | 298,137 | 287,033 | -11,104 | $4,582,365 | $4,365,772 | -$216,593 |
|---|
RDY
DR REDDYS LABS LTD | | ADR | 38,727 | 22,914 | -15,813 | $536,369 | $332,024 | -$204,345 |
|---|
BVN
COMPANIA DE MINAS BUENAVENTU | | SPONSORED ADR | 17,029 | 14,790 | -2,239 | $613,725 | $433,198 | -$180,527 |
|---|
TURB
TURBO ENERGY S A | | SPON ADS | 20,000 | 10,000 | -10,000 | $53,400 | $15,700 | -$37,700 |
|---|
GMAB
GENMAB A/S | | SPONSORED ADS | 52,688 | 52,043 | -645 | $1,413,620 | $1,429,621 | +$16,001 |
|---|
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