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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
+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
(+9.5%)
Cap. Flow
+$3.43B
Cap. Flow
% of AUM
3.12%
Top 10 Holdings %
Top 10 Hldgs %
29.27%
Holding
3,206
New
380
Increased
1,219
Reduced
855
Closed
337
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Meta Platforms (Facebook)
META
|
+$990M |
| 2 |
Alphabet (Google) Class A
GOOGL
|
+$877M |
| 3 |
Tesla
TSLA
|
+$841M |
| 4 |
Microsoft
MSFT
|
+$835M |
| 5 |
Alphabet (Google) Class C
GOOG
|
+$601M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$799M |
| 2 |
Toronto Dominion Bank
TD
|
+$363M |
| 3 |
Brookfield
BN
|
+$315M |
| 4 |
Salesforce
CRM
|
+$305M |
| 5 |
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 | |
|---|---|---|---|---|---|---|
301
PUT
Mercado Libre
MELI
$92.7B
| $53M | 0.05% |
+263
| New | +$552K |
|
302
PUT
Walt Disney
DIS
$178B
| $53M | 0.05% |
4,655
+2,055
| +79% | +$226K |
|
303
Copart
CPRT
$26.8B
| $52.6M | 0.05% |
1,344,736
+173,653
| +15% | +$7.2M |
|
304
PUT
Strategy Inc
MSTR
$37.3B
| $52.4M | 0.05% |
3,450
-23,291
| -87% | -$5.36M |
|
305
HP
HPQ
$26.8B
| $52.1M | 0.05% |
2,340,018
+2,086,091
| +822% | +$53.2M |
|
306
Sherwin-Williams
SHW
$87.4B
| $51.7M | 0.05% |
159,585
-149,764
| -48% | -$50.1M |
|
307
iShares Gold Trust
IAU
$65.4B
| $51.6M | 0.05% |
636,116
+5,477
| +0.9% | +$428K |
|
308
PG&E
PCG
$38.3B
| $51.6M | 0.05% |
3,211,494
+2,443,802
| +318% | +$39M |
|
309
3M
MMM
$94.8B
| $51.5M | 0.05% |
321,526
-31,820
| -9% | -$5.2M |
|
310
Travelers Companies
TRV
$77.2B
| $51.4M | 0.05% |
177,178
-6,960
| -4% | -$1.96M |
|
311
CALL
Amazon
AMZN
$2.88T
| $51.3M | 0.05% |
+2,222
| New | +$508K |
|
312
PNC Financial Services
PNC
$102B
| $50.6M | 0.05% |
242,526
-190,048
| -44% | -$36.7M |
|
313
Hilton Worldwide
HLT
$72.6B
| $49.9M | 0.05% |
173,886
+57,682
| +50% | +$15.7M |
|
314
CALL
Caterpillar
CAT
$393B
| $49.8M | 0.05% |
870
+270
| +45% | +$150K |
|
|
DOO
315
Bombardier Recreational Products
DOO
$4.69B
| $49.5M | 0.05% |
700,796
-108,274
| -13% | -$7.37M |
|
316
State Street SPDR S&P Oil & Gas Exploration & Production ETF
XOP
$3.68B
| $49.5M | 0.05% |
392,197
+330,589
| +537% | +$42.8M |
|
317
CALL
Enbridge
ENB
$112B
| $48.8M | 0.04% |
10,200
-8,688
| -46% | -$415K |
|
318
FedEx
FDX
$77.3B
| $48.6M | 0.04% |
168,245
+5,530
| +3% | +$1.45M |
|
319
iShares MSCI Japan ETF
EWJ
$23.1B
| $48.6M | 0.04% |
601,400
-23,900
| -4% | -$1.96M |
|
320
CME Group
CME
$94.3B
| $48.4M | 0.04% |
177,396
-17,432
| -9% | -$4.74M |
|
321
Sempra
SRE
$56.2B
| $48.4M | 0.04% |
547,942
+459,824
| +522% | +$41.9M |
|
322
State Street Financial Select Sector SPDR ETF
XLF
$59.1B
| $47.6M | 0.04% |
869,696
-2,069,924
| -70% | -$110M |
|
323
Robinhood
HOOD
$85.3B
| $47.5M | 0.04% |
420,357
-64,863
| -13% | -$8.44M |
|
324
Paychex
PAYX
$42.8B
| $47.5M | 0.04% |
423,714
-97,701
| -19% | -$11.4M |
|
325
Royal Caribbean
RCL
$82.4B
| $47.2M | 0.04% |
169,309
+68,154
| +67% | +$19.3M |
|
Similar funds
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.