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National Bank of Canada Portfolio holdings
AUM
$140B
1-Year Est. Return
46.34%
This Fund
S&P 500
This Quarter
Est. Return
+5.14%
1 Year Est. Return
+46.34%
3 Year Est. Return
+120.97%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$110B
AUM Growth
+$9.55B
(+9.5%)
Cap. Flow
+$3.43B
Cap. Flow
% of AUM
3.12%
Top 10 Holdings %
Top 10 Hldgs %
29.27%
Holding
3,206
New
380
Increased
1,219
Reduced
855
Closed
337
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Meta Platforms (Facebook)
META
|
+$990M |
| 2 |
Alphabet (Google) Class A
GOOGL
|
+$877M |
| 3 |
Tesla
TSLA
|
+$841M |
| 4 |
Microsoft
MSFT
|
+$835M |
| 5 |
Alphabet (Google) Class C
GOOG
|
+$601M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$799M |
| 2 |
Toronto Dominion Bank
TD
|
+$363M |
| 3 |
Brookfield
BN
|
+$315M |
| 4 |
Salesforce
CRM
|
+$305M |
| 5 |
Royal Bank of Canada
RY
|
+$289M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 25.83% |
| 2 | Financials | 15.94% |
| 3 | Communication Services | 9.95% |
| 4 | Consumer Discretionary | 8.14% |
| 5 | Industrials | 6.47% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
226
O'Reilly Automotive
ORLY
$74.6B
| $80.2M | 0.07% |
879,558
-40,027
| -4% | -$3.91M |
|
227
Cintas
CTAS
$80.8B
| $79.7M | 0.07% |
423,801
+43,521
| +11% | +$8.2M |
|
228
Welltower
WELL
$169B
| $79.3M | 0.07% |
427,293
+143,185
| +50% | +$26.7M |
|
229
Applovin
APP
$105B
| $79.2M | 0.07% |
117,505
-16,546
| -12% | -$10.4M |
|
230
General Dynamics
GD
$106B
| $78.1M | 0.07% |
231,884
-169,283
| -42% | -$57.7M |
|
231
S&P Global
SPGI
$122B
| $77.4M | 0.07% |
148,102
+53,991
| +57% | +$26.7M |
|
232
Norwegian Cruise Line
NCLH
$8.8B
| $77.4M | 0.07% |
3,466,057
+3,229,014
| +1,362% | +$68.2M |
|
233
Northrop Grumman
NOC
$81.6B
| $77.2M | 0.07% |
135,378
+88,825
| +191% | +$51.6M |
|
234
HCA Healthcare
HCA
$88.4B
| $77M | 0.07% |
164,973
+40,642
| +33% | +$18.9M |
|
235
PUT
Eli Lilly
LLY
$1.09T
| $76.7M | 0.07% |
714
-258
| -27% | -$247K |
|
236
iShares Silver Trust
SLV
$31.4B
| $76.4M | 0.07% |
1,185,326
+386,104
| +48% | +$19.3M |
|
237
Brookfield Renewable
BEP
$10.3B
| $76.2M | 0.07% |
2,882,310
+185,045
| +7% | +$5.26M |
|
238
Mondelez International
MDLZ
$80.4B
| $76.1M | 0.07% |
1,413,622
+897,719
| +174% | +$51.7M |
|
239
Parker-Hannifin
PH
$133B
| $76.1M | 0.07% |
86,538
+1,424
| +2% | +$1.17M |
|
240
PUT
Nike
NKE
$60.6B
| $75.2M | 0.07% |
11,800
+1,645
| +16% | +$107K |
|
241
Capital One
COF
$136B
| $74.4M | 0.07% |
307,003
-82,347
| -21% | -$18.3M |
|
242
United Parcel Service
UPS
$89.5B
| $73.9M | 0.07% |
744,731
+427,379
| +135% | +$40M |
|
243
CALL
Canadian Imperial Bank of Commerce
CM
$111B
| $72.9M | 0.07% |
8,044
-3,428
| -30% | -$294K |
|
244
Hudbay
HBM
$11.9B
| $71.6M | 0.07% |
3,644,729
+1,075,702
| +42% | +$18.2M |
|
245
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$813B
| $71.6M | 0.07% |
1,050
+1,032
| +5,733% | +$698K |
|
246
Altria Group
MO
$110B
| $71.5M | 0.07% |
1,240,825
-647,808
| -34% | -$39.1M |
|
247
PUT
Target
TGT
$70.2B
| $71.5M | 0.07% |
7,313
| – | – |
|
248
KKR & Co
KKR
$101B
| $71.5M | 0.07% |
560,906
+68,899
| +14% | +$8.57M |
|
249
Monster Beverage
MNST
$91.2B
| $71.4M | 0.06% |
1,862,646
+129,576
| +7% | +$4.64M |
|
250
Workday
WDAY
$43.3B
| $71M | 0.06% |
330,690
-501,980
| -60% | -$114M |
|
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National Bank of Canada's Q4 2025 Portfolio in Review
As of Q4 2025, National Bank of Canada held 3,206 positions worth $110B, up 9.5% from $100B the previous quarter. Its ten largest holdings account for 29% of the portfolio.
National Bank of Canada deployed $3.43B of net new capital in Q4 2025, opening 380 new positions and adding to 1,219 existing holdings. Its largest new stake was Roivant Sciences: 2,040,000 shares worth $44.3M.
By sector, the portfolio is most concentrated in Technology at 26% of assets, down from 27% a quarter earlier, followed by Financials and Communication Services.
On the sell side, the largest reduction was Apple, an estimated $799M trimmed.
- National Bank of Canada's largest Q4 2025 buy was Roivant Sciences: 2,040,000 shares worth $44.3M.
- National Bank of Canada added most to Meta Platforms (Facebook) in Q4 2025, an estimated $990M increase.
- National Bank of Canada's biggest Q4 2025 reduction was Apple, cutting an estimated $799M.
- National Bank of Canada fully exited Spirit AeroSystems in Q4 2025, selling an estimated $124M.
- National Bank of Canada's ten largest holdings make up 29% of its $110B portfolio in Q4 2025.
- National Bank of Canada opened 380 new positions and closed 337 in Q4 2025.
- National Bank of Canada's portfolio value rose 9.5% quarter-over-quarter to $110B.
Based on National Bank of Canada's 13F filing for Q4 2025, filed 17 Feb 2026.