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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
IGPT icon
2551
Invesco AI and Next Gen Software ETF
IGPT
$1.2B
$2.7K ﹤0.01%
50
– –
DPRO
2552
Draganfly
DPRO
$170M
$2.69K ﹤0.01%
487
-445
-48% -$2.21K
PRAA icon
2553
PRA Group
PRAA
$762M
$2.61K ﹤0.01%
169
+126
+293% +$2.04K
GEVO icon
2554
Gevo
GEVO
$401M
$2.6K ﹤0.01%
1,329
+179
+16% +$292
LQDW icon
2555
iShares Investment Grade Corporate Bond BuyWrite Strategy ETF
LQDW
$318M
$2.52K ﹤0.01%
100
+5
+5% +$126
RXO icon
2556
RXO
RXO
$3.85B
$2.52K ﹤0.01%
164
-75
-31% -$1.21K
XTN icon
2557
State Street SPDR S&P Transportation ETF
XTN
$398M
$2.52K ﹤0.01%
30
– –
SOC icon
2558
Sable Offshore Corp
SOC
$773M
$2.51K ﹤0.01%
+144
New +$3.69K
RWT
2559
Redwood Trust
RWT
$599M
$2.51K ﹤0.01%
+434
New +$2.59K
EMF
2560
Templeton Emerging Markets Fund
EMF
$332M
$2.51K ﹤0.01%
150
– –
IIPR icon
2561
Innovative Industrial Properties
IIPR
$1.67B
$2.51K ﹤0.01%
+47
New +$2.56K
PAR icon
2562
PAR Technology
PAR
$770M
$2.49K ﹤0.01%
63
+50
+385% +$2.76K
NXRT
2563
NexPoint Residential Trust
NXRT
$636M
$2.48K ﹤0.01%
77
– –
CORT icon
2564
Corcept Therapeutics
CORT
$11.9B
$2.47K ﹤0.01%
+30
New +$2.17K
SPWR icon
2565
SunPower Inc
SPWR
$48.7M
$2.44K ﹤0.01%
1,389
– –
SG icon
2566
Sweetgreen
SG
$721M
$2.44K ﹤0.01%
306
-161
-34% -$1.75K
GLXY
2567
CALL
Galaxy Digital Inc
GLXY
$4.07B
$2.43K ﹤0.01%
+1
New +$27
HDGE icon
2568
AdvisorShares Ranger Equity Bear ETF
HDGE
$52.2M
$2.42K ﹤0.01%
150
+50
+50% +$822
WGO icon
2569
Winnebago Industries
WGO
$921M
$2.41K ﹤0.01%
+72
New +$2.38K
SENS icon
2570
Senseonics Holdings Inc
SENS
$409M
$2.38K ﹤0.01%
275
– –
DBE icon
2571
Invesco DB Energy Fund
DBE
$90.5M
$2.37K ﹤0.01%
125
– –
KAI icon
2572
Kadant
KAI
$3.91B
$2.37K ﹤0.01%
8
-8
-50% -$2.61K
WTTR icon
2573
Select Water Solutions
WTTR
$2.63B
$2.36K ﹤0.01%
+221
New +$2.02K
GBTG icon
2574
American Express Global Business Travel
GBTG
$4.94B
$2.36K ﹤0.01%
+292
New +$2.16K
KYNB
2575
Kyntra Bio
KYNB
$28.5M
$2.32K ﹤0.01%
193
– –
101 102
103
104 105

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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.