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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
KODK icon
2676
Kodak
KODK
$978M
$640 ﹤0.01%
+100
New +$630
SLI
2677
Standard Lithium
SLI
$574M
$634 ﹤0.01%
216
-1,921
-90% -$5.37K
NKTX icon
2678
Nkarta
NKTX
$165M
$621 ﹤0.01%
300
+1
+0.3% +$2
ALLO icon
2679
Allogene Therapeutics
ALLO
$683M
$615 ﹤0.01%
500
+33
+7% +$39
CHPT icon
2680
ChargePoint
CHPT
$160M
$612 ﹤0.01%
56
-41
-42% -$469
LTRX icon
2681
Lantronix
LTRX
$272M
$606 ﹤0.01%
133
– –
ALK icon
2682
Alaska Air
ALK
$5.3B
$597 ﹤0.01%
12
– –
OTLY
2683
Oatly Group
OTLY
$441M
$596 ﹤0.01%
37
– –
AMSC icon
2684
American Superconductor
AMSC
$1.53B
$594 ﹤0.01%
10
-10
-50% -$500
ALEC icon
2685
Alector
ALEC
$228M
$592 ﹤0.01%
200
– –
ZVRA icon
2686
Zevra Therapeutics
ZVRA
$664M
$589 ﹤0.01%
62
-32
-34% -$321
MRTN icon
2687
Marten Transport
MRTN
$1.24B
$586 ﹤0.01%
+55
New +$669
AMRN
2688
Amarin Corp
AMRN
$299M
$573 ﹤0.01%
35
– –
EXOD
2689
Exodus Movement Inc
EXOD
$186M
$568 ﹤0.01%
21
+3
+17% +$89
OCC icon
2690
Optical Cable Corp
OCC
$147M
$558 ﹤0.01%
69
– –
RSBT icon
2691
PUT
Return Stacked Bonds & Managed Futures ETF
RSBT
$141M
$547 ﹤0.01%
+1
New +$16
QRVO icon
2692
Qorvo
QRVO
$8.68B
$546 ﹤0.01%
6
– –
BODI icon
2693
The Beachbody Company
BODI
$47.6M
$519 ﹤0.01%
90
– –
SPTL icon
2694
State Street SPDR Portfolio Long Term Treasury ETF
SPTL
$10.8B
$512 ﹤0.01%
19
– –
TE
2695
T1 Energy
TE
$1.41B
$503 ﹤0.01%
233
– –
BMBL icon
2696
Bumble
BMBL
$359M
$469 ﹤0.01%
77
-12
-13% -$82
PCVX icon
2697
Vaxcyte
PCVX
$8.76B
$468 ﹤0.01%
+13
New +$431
COCO icon
2698
Vita Coco
COCO
$3.77B
$466 ﹤0.01%
+11
New +$408
HYDR icon
2699
Global X Hydrogen ETF
HYDR
$105M
$447 ﹤0.01%
+13
New +$345
HAIN icon
2700
Hain Celestial
HAIN
$53.9M
$440 ﹤0.01%
280
+1
+0.4% +$2
106 107
108
109 110

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Primecap Management
Primecap Management Pasadena, California $127B AUM 44.11% 1-Year Est. Return
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
D.E. Shaw & Co
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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.