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National Bank of Canada

National Bank of Canada Portfolio holdings

AUM $140B
1-Year Est. Return 46.34%
This Fund
S&P 500
This Quarter Est. Return
+10.79%
1 Year Est. Return
+46.34%
3 Year Est. Return
+120.97%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$100B
AUM Growth
-$4.77B
Cap. Flow
-$14B
Cap. Flow %
-13.98%
Top 10 Hldgs %
28.48%
Holding
3,287
New
313
Increased
899
Reduced
1,215
Closed
454

Top Buys

Rank Stock Value
1
MSTR icon
Strategy Inc
MSTR
+$548M
2
FISV
Fiserv Inc
FISV
+$286M
3
AMGN icon
Amgen
AMGN
+$251M
4
PLTR icon
Palantir
PLTR
+$229M
5
RY icon
Royal Bank of Canada
RY
+$200M

Top Sells

Rank Stock Value
1
NVDA icon
NVIDIA
NVDA
+$1.11B
2
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$1.09B
3
IEFA icon
iShares Core MSCI EAFE ETF
IEFA
+$702M
4
TSLA icon
Tesla
TSLA
+$636M
5
MSFT icon
Microsoft
MSFT
+$480M

Sector Composition

Rank Sector Weight
1 Technology 26.61%
2 Financials 18.19%
3 Consumer Discretionary 7.6%
4 Communication Services 7.34%
5 Industrials 6.63%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
FLNA
2476
Filana Therapeutics
FLNA
$45.7M
$4.36K ﹤0.01%
1,510
-10
-0.7% -$23
TECL icon
2477
Direxion Daily Technology Bull 3x ETF
TECL
$6.47B
$4.35K ﹤0.01%
35
– –
ZIMV
2478
DELISTED
ZimVie
ZIMV
$4.32K ﹤0.01%
228
+9
+4% +$152
OUST icon
2479
Ouster
OUST
$3.25B
$4.27K ﹤0.01%
158
+138
+690% +$3.85K
WING icon
2480
Wingstop
WING
$3.1B
$4.26K ﹤0.01%
17
-37
-69% -$11.5K
BEAM icon
2481
Beam Therapeutics
BEAM
$2.74B
$4.2K ﹤0.01%
+173
New +$3.44K
DVYA icon
2482
iShares Asia/Pacific Dividend ETF
DVYA
$71.5M
$4.19K ﹤0.01%
100
– –
SEDG icon
2483
SolarEdge
SEDG
$1.98B
$4.18K ﹤0.01%
114
+61
+115% +$1.82K
AS icon
2484
Amer Sports
AS
$19.3B
$4.17K ﹤0.01%
120
-76,019
-100% -$2.87M
HECO
2485
State Street Galaxy Hedged Digital Asset Ecosystem ETF
HECO
$80.8M
$4.16K ﹤0.01%
100
– –
BRAG
2486
Bragg Gaming Group
BRAG
$46.2M
$4.15K ﹤0.01%
1,450
+1,356
+1,443% +$4.79K
BBH icon
2487
VanEck Biotech ETF
BBH
$428M
$4.14K ﹤0.01%
25
– –
AZTA icon
2488
Azenta
AZTA
$1.49B
$4.13K ﹤0.01%
144
+66
+85% +$2.05K
IGLB icon
2489
iShares 10+ Year Investment Grade Corporate Bond ETF
IGLB
$2.8B
$4.12K ﹤0.01%
80
– –
VRIG icon
2490
Invesco Variable Rate Investment Grade ETF
VRIG
$1.85B
$4.12K ﹤0.01%
164
– –
CRBN icon
2491
iShares Low Carbon Optimized MSCI ACWI ETF
CRBN
$1.19B
$4.08K ﹤0.01%
+18
New +$3.93K
FULC icon
2492
Fulcrum Therapeutics
FULC
$283M
$3.94K ﹤0.01%
428
-45
-10% -$326
PDFS icon
2493
PDF Solutions
PDFS
$2.13B
$3.92K ﹤0.01%
+152
New +$3.32K
RWX icon
2494
State Street SPDR Dow Jones International Real Estate ETF
RWX
$267M
$3.91K ﹤0.01%
141
-18
-11% -$495
XLG icon
2495
Invesco S&P 500 Top 50 ETF
XLG
$11B
$3.85K ﹤0.01%
67
-2
-3% -$109
WMG icon
2496
Warner Music
WMG
$13.3B
$3.85K ﹤0.01%
113
+26
+30% +$829
FIP icon
2497
FTAI Infrastructure
FIP
$551M
$3.83K ﹤0.01%
878
+686
+357% +$3.72K
BKV
2498
BKV Corp
BKV
$2.84B
$3.82K ﹤0.01%
+165
New +$3.6K
WWW icon
2499
Wolverine World Wide
WWW
$1.63B
$3.81K ﹤0.01%
139
+63
+83% +$1.66K
WVVI icon
2500
Willamette Valley Vineyards
WVVI
$12M
$3.79K ﹤0.01%
1,100
– –
98 99
100
101 102

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Canada Pension Plan Investment Board
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Two Sigma Investments
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National Bank of Canada's Q3 2025 Portfolio in Review

As of Q3 2025, National Bank of Canada held 3,287 positions worth $100B, down 4.5% from $105B the previous quarter. Its ten largest holdings account for 28% of the portfolio.

National Bank of Canada withdrew a net $14B in Q3 2025, closing 454 positions and reducing 1,215 holdings. Its most notable exit was Schwab US Broad Market ETF, an estimated $96.5M position sold in full.

By sector, the portfolio is most concentrated in Technology at 27% of assets, up from 24% a quarter earlier, followed by Financials and Consumer Discretionary.

Against the trend, National Bank of Canada opened a new position in iShares MSCI Japan ETF worth $50.2M.

  • National Bank of Canada's largest Q3 2025 buy was iShares MSCI Japan ETF: 625,300 shares worth $50.2M.
  • National Bank of Canada added most to Strategy Inc in Q3 2025, an estimated $548M increase.
  • National Bank of Canada's biggest Q3 2025 reduction was NVIDIA, cutting an estimated $1.11B.
  • National Bank of Canada fully exited Schwab US Broad Market ETF in Q3 2025, selling an estimated $96.5M.
  • National Bank of Canada's ten largest holdings make up 28% of its $100B portfolio in Q3 2025.
  • National Bank of Canada opened 313 new positions and closed 454 in Q3 2025.
  • National Bank of Canada's portfolio value fell 4.5% quarter-over-quarter to $100B.

Based on National Bank of Canada's 13F filing for Q3 2025, filed 14 Nov 2025.