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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 | |
|---|---|---|---|---|---|---|
301
CALL
Manulife Financial
MFC
$72.6B
| $46.9M | 0.05% |
15,037
+4,330
| +40% | +$134K |
|
302
iShares Gold Trust
IAU
$65.4B
| $45.9M | 0.05% |
630,639
+396
| +0.1% | +$25.8K |
|
303
S&P Global
SPGI
$121B
| $45.8M | 0.05% |
94,111
-165,605
| -64% | -$88.7M |
|
304
Vipshop
VIPS
$6.94B
| $45.7M | 0.05% |
2,325,400
-1,090,800
| -32% | -$18.1M |
|
305
PUT
Broadcom
AVGO
$1.98T
| $45.6M | 0.05% |
+1,383
| New | +$424K |
|
306
PUT
C3.ai
AI
$1.57B
| $45M | 0.04% |
25,942
+13,442
| +108% | +$281K |
|
307
Celestica
CLS
$42.8B
| $44.3M | 0.04% |
182,076
-13,264
| -7% | -$2.67M |
|
308
MSCI
MSCI
$40.9B
| $44.3M | 0.04% |
78,085
+2,917
| +4% | +$1.65M |
|
309
Oneok
OKE
$58.3B
| $44.2M | 0.04% |
605,044
+168,310
| +39% | +$12.9M |
|
310
Colgate-Palmolive
CL
$73.6B
| $44M | 0.04% |
550,656
-85,556
| -13% | -$7.3M |
|
311
Ameriprise Financial
AMP
$49.9B
| $44M | 0.04% |
89,583
-6,700
| -7% | -$3.43M |
|
312
Target
TGT
$69.9B
| $43.8M | 0.04% |
488,376
-1,263,244
| -72% | -$124M |
|
313
Take-Two Interactive
TTWO
$45.4B
| $43.7M | 0.04% |
169,277
-126,639
| -43% | -$30M |
|
|
314
CALL
C3.ai
AI
$1.57B
| $43.4M | 0.04% |
+25,000
| New | +$522K |
|
315
Norfolk Southern
NSC
$75.3B
| $43.3M | 0.04% |
144,141
-214,338
| -60% | -$59.5M |
|
|
EA
316
DELISTED
Electronic Arts
EA
| $43.2M | 0.04% |
214,228
-65,195
| -23% | -$10.8M |
|
317
PUT
Bank of Montreal
BMO
$129B
| $42.6M | 0.04% |
3,271
+1,210
| +59% | +$143K |
|
318
Freeport-McMoran
FCX
$96.9B
| $42.6M | 0.04% |
1,085,603
-243,349
| -18% | -$10.6M |
|
319
Baker Hughes
BKR
$63.8B
| $42.5M | 0.04% |
873,283
+34,915
| +4% | +$1.54M |
|
320
BILL Holdings
BILL
$4.85B
| $42.4M | 0.04% |
+800,000
| New | +$37.2M |
|
321
Allstate
ALL
$64.7B
| $42.1M | 0.04% |
196,234
-28,925
| -13% | -$5.84M |
|
322
Gold Fields
GFI
$36.4B
| $42M | 0.04% |
1,001,410
-458,004
| -31% | -$14.2M |
|
323
CALL
Canadian Natural Resources
CNQ
$98.1B
| $41.9M | 0.04% |
13,114
+3,748
| +40% | +$117K |
|
324
Arthur J. Gallagher & Co
AJG
$65.5B
| $41.9M | 0.04% |
135,271
-62,305
| -32% | -$18.8M |
|
|
HSAI
325
Hesai Group
HSAI
$2.99B
| $41.6M | 0.04% |
1,482,116
+770,816
| +108% | +$18.9M |
|
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.