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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
+5.14%
1 Year Est. Return
+46.34%
3 Year Est. Return
+120.97%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$110B
AUM Growth
+$9.55B
Cap. Flow
+$3.43B
Cap. Flow %
3.12%
Top 10 Hldgs %
29.27%
Holding
3,206
New
380
Increased
1,219
Reduced
855
Closed
337

Top Buys

Rank Stock Value
1
META icon
Meta Platforms (Facebook)
META
+$990M
2
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$877M
3
TSLA icon
Tesla
TSLA
+$841M
4
MSFT icon
Microsoft
MSFT
+$835M
5
GOOG icon
Alphabet (Google) Class C
GOOG
+$601M

Top Sells

Rank Stock Value
1
AAPL icon
Apple
AAPL
+$799M
2
TD icon
Toronto Dominion Bank
TD
+$363M
3
BN icon
Brookfield
BN
+$315M
4
CRM icon
Salesforce
CRM
+$305M
5
RY icon
Royal Bank of Canada
RY
+$289M

Sector Composition

Rank Sector Weight
1 Technology 25.83%
2 Financials 15.94%
3 Communication Services 9.95%
4 Consumer Discretionary 8.14%
5 Industrials 6.47%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SFD
2751
Smithfield Foods
SFD
$8.92B
$201 ﹤0.01%
+9
New +$198
AEVA
2752
Aeva Technologies
AEVA
$1.64B
$199 ﹤0.01%
15
-1,176
-99% -$16.7K
AMSF icon
2753
AMERISAFE
AMSF
$511M
$192 ﹤0.01%
+5
New +$202
XRPNU
2754
Armada Acquisition Corp II Units
XRPNU
$185 ﹤0.01%
27
– –
BRAG
2755
Bragg Gaming Group
BRAG
$48.1M
$183 ﹤0.01%
88
-1,362
-94% -$3.23K
TOON icon
2756
Kartoon Studios
TOON
$38.4M
$178 ﹤0.01%
250
-25
-9% -$18
AGM icon
2757
Federal Agricultural Mortgage
AGM
$2.53B
$176 ﹤0.01%
+1
New +$168
RENT
2758
Rent the Runway
RENT
$121M
$174 ﹤0.01%
22
– –
INO icon
2759
Inovio Pharmaceuticals
INO
$93M
$172 ﹤0.01%
99
+58
+141% +$128
NGNE icon
2760
Neurogene
NGNE
$725M
$164 ﹤0.01%
8
– –
WB icon
2761
Weibo
WB
$1.87B
$163 ﹤0.01%
16
-51,584
-100% -$553K
DFNS
2762
T3 Defense Inc
DFNS
$35.1M
– –
0
– –
KCHVU
2763
Kochav Defense Acquisition Corp Units
KCHVU
$159 ﹤0.01%
17
– –
BFS
2764
Saul Centers
BFS
$860M
$158 ﹤0.01%
+5
New +$154
AAP icon
2765
Advance Auto Parts
AAP
$3.42B
$157 ﹤0.01%
4
-24,109
-100% -$1.21M
CYH icon
2766
Community Health Systems
CYH
$422M
$156 ﹤0.01%
50
+29
+138% +$98
TX icon
2767
Ternium
TX
$10.7B
$153 ﹤0.01%
4
– –
IPGP icon
2768
IPG Photonics
IPGP
$3.64B
$143 ﹤0.01%
2
– –
RES icon
2769
RPC Inc
RES
$1.38B
$142 ﹤0.01%
+26
New +$135
GP
2770
GreenPower Motor Co
GP
$11.1M
$141 ﹤0.01%
+189
New +$347
IMCC
2771
IM Cannabis
IMCC
$1.18M
$141 ﹤0.01%
103
– –
ONL
2772
Orion Office REIT
ONL
$159M
$141 ﹤0.01%
63
– –
SHMDW
2773
SCHMID Group N.V. Warrants
SHMDW
$130 ﹤0.01%
+21
New +$14
BFLY.WS
2774
DELISTED
Butterfly Network Inc Warrants
BFLY.WS
$129 ﹤0.01%
34
– –
ITRN icon
2775
Ituran Location and Control
ITRN
$1.05B
$129 ﹤0.01%
3
-1,497
-100% -$58.7K
109 110
111
112 113

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VAM
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National Bank of Canada's Q4 2025 Portfolio in Review

As of Q4 2025, National Bank of Canada held 3,206 positions worth $110B, up 9.5% from $100B the previous quarter. Its ten largest holdings account for 29% of the portfolio.

National Bank of Canada deployed $3.43B of net new capital in Q4 2025, opening 380 new positions and adding to 1,219 existing holdings. Its largest new stake was Roivant Sciences: 2,040,000 shares worth $44.3M.

By sector, the portfolio is most concentrated in Technology at 26% of assets, down from 27% a quarter earlier, followed by Financials and Communication Services.

On the sell side, the largest reduction was Apple, an estimated $799M trimmed.

  • National Bank of Canada's largest Q4 2025 buy was Roivant Sciences: 2,040,000 shares worth $44.3M.
  • National Bank of Canada added most to Meta Platforms (Facebook) in Q4 2025, an estimated $990M increase.
  • National Bank of Canada's biggest Q4 2025 reduction was Apple, cutting an estimated $799M.
  • National Bank of Canada fully exited Spirit AeroSystems in Q4 2025, selling an estimated $124M.
  • National Bank of Canada's ten largest holdings make up 29% of its $110B portfolio in Q4 2025.
  • National Bank of Canada opened 380 new positions and closed 337 in Q4 2025.
  • National Bank of Canada's portfolio value rose 9.5% quarter-over-quarter to $110B.

Based on National Bank of Canada's 13F filing for Q4 2025, filed 17 Feb 2026.