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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
+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
(-4.5%)
Cap. Flow
-$14B
Cap. Flow
% of AUM
-13.98%
Top 10 Holdings %
Top 10 Hldgs %
28.48%
Holding
3,287
New
313
Increased
899
Reduced
1,215
Closed
454
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Strategy Inc
MSTR
|
+$548M |
| 2 |
FISV
Fiserv Inc
FISV
|
+$286M |
| 3 |
Amgen
AMGN
|
+$251M |
| 4 |
Palantir
PLTR
|
+$229M |
| 5 |
Royal Bank of Canada
RY
|
+$200M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
NVIDIA
NVDA
|
+$1.11B |
| 2 |
Alphabet (Google) Class A
GOOGL
|
+$1.09B |
| 3 |
iShares Core MSCI EAFE ETF
IEFA
|
+$702M |
| 4 |
Tesla
TSLA
|
+$636M |
| 5 |
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 | |
|---|---|---|---|---|---|---|
|
SCHW
251
Charles Schwab
SCHW
$189B
| $61.4M | 0.06% |
642,879
-754,968
| -54% | -$71.7M |
|
252
FirstService
FSV
$6.24B
| $60.8M | 0.06% |
320,531
-2,026
| -0.6% | -$392K |
|
253
CALL
Eli Lilly
LLY
$1.09T
| $58.8M | 0.06% |
+770
| New | +$573K |
|
254
Monster Beverage
MNST
$90.1B
| $58.3M | 0.06% |
1,733,070
+146,138
| +9% | +$4.56M |
|
255
American Tower
AMT
$79.4B
| $57.9M | 0.06% |
300,981
-84,837
| -22% | -$17.7M |
|
256
Aon
AON
$74.7B
| $57.6M | 0.06% |
161,524
-67,679
| -30% | -$24.5M |
|
257
Mercado Libre
MELI
$92.7B
| $57.5M | 0.06% |
24,591
+3,628
| +17% | +$8.71M |
|
258
Marriott International
MAR
$92.5B
| $56.9M | 0.06% |
218,477
-13,774
| -6% | -$3.7M |
|
|
IPG
259
DELISTED
Interpublic Group of Companies
IPG
| $56.5M | 0.06% |
2,024,940
+929,349
| +85% | +$24M |
|
260
CALL
AT&T
T
$166B
| $56.5M | 0.06% |
20,000
+1,000
| +5% | +$28.4K |
|
261
CALL
IBM
IBM
$222B
| $56.4M | 0.06% |
2,000
-1,611
| -45% | -$422K |
|
262
Rexford Industrial Realty
REXR
$8.11B
| $56.3M | 0.06% |
1,370,000
+299,978
| +28% | +$11.7M |
|
263
iShares JPMorgan USD Emerging Markets Bond ETF
EMB
$14.9B
| $56.2M | 0.06% |
590,429
+573,879
| +3,468% | +$53.7M |
|
264
CALL
Toronto Dominion Bank
TD
$204B
| $56M | 0.06% |
6,999
+3,033
| +76% | +$228K |
|
265
CALL
Palo Alto Networks
PANW
$315B
| $55.7M | 0.06% |
2,737
-904
| -25% | -$173K |
|
266
Vanguard S&P 500 ETF
VOO
$1.03T
| $55.4M | 0.06% |
90,504
-4,375
| -5% | -$2.58M |
|
267
Pan American Silver
PAAS
$22.1B
| $55M | 0.05% |
1,423,864
+338,138
| +31% | +$10.9M |
|
268
3M
MMM
$94.8B
| $54.8M | 0.05% |
353,346
-203,327
| -37% | -$31.3M |
|
269
Rio Tinto
RIO
$165B
| $54.4M | 0.05% |
824,092
+739,854
| +878% | +$45.7M |
|
270
Keurig Dr Pepper
KDP
$40.2B
| $54.2M | 0.05% |
2,126,400
+807,571
| +61% | +$25.3M |
|
271
Algonquin Power & Utilities
AQN
$4.44B
| $53.2M | 0.05% |
9,911,552
+25,127
| +0.3% | +$144K |
|
272
Cardinal Health
CAH
$54.5B
| $53M | 0.05% |
337,923
+134,831
| +66% | +$20.8M |
|
273
HCA Healthcare
HCA
$89.8B
| $53M | 0.05% |
124,331
-36,269
| -23% | -$14.1M |
|
274
iShares ESG Aware MSCI USA ETF
ESGU
$18.4B
| $52.9M | 0.05% |
363,600
+181,900
| +100% | +$25.5M |
|
275
Airbnb
ABNB
$108B
| $52.7M | 0.05% |
434,202
+8,766
| +2% | +$1.13M |
|
Similar funds
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.