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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
OSG
2526
Octave Specialty Group
OSG
$212M
$3.21K ﹤0.01%
385
+378
+5,400% +$3.19K
PRLB icon
2527
Protolabs
PRLB
$2.21B
$3.2K ﹤0.01%
64
-11,485
-99% -$526K
LOGI icon
2528
Logitech
LOGI
$15B
$3.18K ﹤0.01%
29
– –
ABUS icon
2529
Arbutus Biopharma
ABUS
$906M
$3.18K ﹤0.01%
700
– –
VIXM icon
2530
ProShares VIX Mid-Term Futures ETF
VIXM
$94.4M
$3.16K ﹤0.01%
200
– –
MCW
2531
DELISTED
Mister Car Wash
MCW
$3.15K ﹤0.01%
591
-987
-63% -$5.82K
ICHR icon
2532
Ichor Holdings
ICHR
$2.67B
$3.15K ﹤0.01%
180
+149
+481% +$2.83K
UP icon
2533
Wheels Up
UP
$187M
$3.13K ﹤0.01%
85
– –
RARE icon
2534
Ultragenyx Pharmaceutical
RARE
$2.6B
$3.13K ﹤0.01%
104
-12
-10% -$360
XHLF icon
2535
BondBloxx Bloomberg Six Month Target Duration US Treasury ETF
XHLF
$1.99B
$3.13K ﹤0.01%
+62
New +$3.12K
EGBN icon
2536
Eagle Bancorp
EGBN
$877M
$3.11K ﹤0.01%
+154
New +$2.98K
KWY
2537
Kingsway Corp
KWY
$283M
$3.09K ﹤0.01%
212
-131
-38% -$1.88K
EMD
2538
Western Asset Emerging Markets Debt Fund
EMD
$612M
$3.08K ﹤0.01%
300
-2,697
-90% -$27.7K
HIGH icon
2539
Simplify Enhanced Income ETF
HIGH
$67.1M
$3.07K ﹤0.01%
133
– –
MATX icon
2540
Matsons
MATX
$6.39B
$3.05K ﹤0.01%
31
-59
-66% -$6.31K
IIF
2541
Morgan Stanley India Investment Fund
IIF
$219M
$3.03K ﹤0.01%
115
– –
VAL icon
2542
Valaris
VAL
$5.91B
$3.02K ﹤0.01%
62
+12
+24% +$585
INMD icon
2543
InMode
INMD
$875M
$3K ﹤0.01%
201
-13
-6% -$190
URG
2544
Ur-Energy
URG
$533M
$2.95K ﹤0.01%
1,889
-753
-29% -$1.02K
SID icon
2545
Companhia Siderúrgica Nacional
SID
$1.19B
$2.92K ﹤0.01%
1,959
– –
AMC icon
2546
AMC Entertainment Holdings
AMC
$2.35B
$2.92K ﹤0.01%
1,006
+1
+0.1% +$3
HYFT
2547
MindWalk Holdings
HYFT
$65.3M
$2.91K ﹤0.01%
1,671
– –
PUBM icon
2548
PubMatic
PUBM
$787M
$2.82K ﹤0.01%
341
+10
+3% +$102
BLCO icon
2549
Bausch + Lomb
BLCO
$6.06B
$2.78K ﹤0.01%
+187
New +$2.69K
LNTH icon
2550
Lantheus
LNTH
$6.59B
$2.71K ﹤0.01%
53
-47
-47% -$2.94K
100 101
102
103 104

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Primecap Management
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Canada Pension Plan Investment Board
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Two Sigma Investments
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California Public Employees Retirement System
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Manulife (Manufacturers Life Insurance)
Manulife (Manufacturers Life Insurance) Canada, Ontario, Canada $116B AUM 26.37% 1-Year Est. Return
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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.