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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 | |
|---|---|---|---|---|---|---|
326
Vanguard FTSE All-World ex-US ETF
VEU
$70.5B
| $41.5M | 0.04% |
581,870
+1,750
| +0.3% | +$121K |
|
327
Wynn Resorts
WYNN
$10.6B
| $41.4M | 0.04% |
322,916
+257,224
| +392% | +$29.7M |
|
|
PDS
328
Precision Drilling
PDS
$1.08B
| $41.3M | 0.04% |
735,460
+4,236
| +0.6% | +$232K |
|
329
SLB Ltd
SLB
$78.1B
| $41.1M | 0.04% |
1,195,063
+11,669
| +1% | +$406K |
|
330
Huazhu Hotels Group
HTHT
$12.7B
| $41M | 0.04% |
1,049,400
+23,480
| +2% | +$820K |
|
331
Seagate
STX
$199B
| $41M | 0.04% |
173,480
+17,551
| +11% | +$3M |
|
332
Phillips 66
PSX
$90B
| $40.5M | 0.04% |
297,978
-31,745
| -10% | -$4.07M |
|
333
Corning
GLW
$144B
| $40.5M | 0.04% |
493,845
-273,386
| -36% | -$17.9M |
|
334
Cummins
CMI
$87.8B
| $40.5M | 0.04% |
95,900
-11,703
| -11% | -$4.49M |
|
335
Starbucks
SBUX
$124B
| $40.1M | 0.04% |
474,182
-719,416
| -60% | -$64.4M |
|
336
TAL Education Group
TAL
$6.58B
| $39.9M | 0.04% |
3,559,800
+2,120,800
| +147% | +$22.8M |
|
337
General Motors
GM
$76.1B
| $39.7M | 0.04% |
651,264
-309,730
| -32% | -$17.3M |
|
338
Simon Property Group
SPG
$71.4B
| $39.7M | 0.04% |
211,334
-13,343
| -6% | -$2.3M |
|
339
EOG Resources
EOG
$75.1B
| $39.6M | 0.04% |
353,228
-43,188
| -11% | -$5.15M |
|
340
Truist Financial
TFC
$64.3B
| $39.4M | 0.04% |
861,117
-220,176
| -20% | -$9.93M |
|
|
XYZ
341
Block Inc
XYZ
$47B
| $39.4M | 0.04% |
544,532
+310,253
| +132% | +$23.2M |
|
342
Hudbay
HBM
$12.4B
| $38.7M | 0.04% |
2,569,027
+754,063
| +42% | +$8.64M |
|
343
FedEx
FDX
$77.3B
| $38.4M | 0.04% |
162,715
-45,078
| -22% | -$10.4M |
|
344
Alamos Gold
AGI
$14B
| $37.8M | 0.04% |
1,085,913
-158,021
| -13% | -$4.52M |
|
345
CALL
Wells Fargo
WFC
$269B
| $37.7M | 0.04% |
4,500
+907
| +25% | +$73.5K |
|
346
AngloGold Ashanti
AU
$49.5B
| $37.5M | 0.04% |
533,569
-222,597
| -29% | -$12.4M |
|
347
RB Global
RBA
$16B
| $37.3M | 0.04% |
349,379
-3,276
| -0.9% | -$367K |
|
348
Prologis
PLD
$134B
| $37.1M | 0.04% |
324,079
-1,239,704
| -79% | -$136M |
|
349
Verisk Analytics
VRSK
$23.5B
| $37M | 0.04% |
147,059
-52,954
| -26% | -$14.5M |
|
350
Invesco S&P 500 Equal Weight ETF
RSP
$99.5B
| $37M | 0.04% |
194,853
-125,089
| -39% | -$23.3M |
|
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.