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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 | |
|---|---|---|---|---|---|---|
351
Dell
DELL
$313B
| $41.5M | 0.04% |
329,598
+99,158
| +43% | +$14M |
|
352
Vanguard Short-Term Bond ETF
BSV
$45.6B
| $41M | 0.04% |
520,590
+389,557
| +297% | +$30.7M |
|
353
Pan American Silver
PAAS
$22.1B
| $40.8M | 0.04% |
785,930
-637,934
| -45% | -$26.7M |
|
354
L3Harris
LHX
$54.1B
| $40.5M | 0.04% |
138,031
+73,701
| +115% | +$21.3M |
|
355
Carvana
CVNA
$79.7B
| $40.5M | 0.04% |
479,690
+474,235
| +8,694% | +$35.3M |
|
356
Southwest Airlines
LUV
$22B
| $40.3M | 0.04% |
975,345
-49,969
| -5% | -$1.75M |
|
357
CALL
TC Energy
TRP
$66.3B
| $39.8M | 0.04% |
7,237
-7,810
| -52% | -$417K |
|
358
Brookfield Infrastructure
BIPC
$4.93B
| $39M | 0.04% |
865,620
+149,491
| +21% | +$6.77M |
|
359
Carrier Global
CARR
$52B
| $38.8M | 0.04% |
734,921
+335,150
| +84% | +$18.6M |
|
360
Vanguard FTSE Europe ETF
VGK
$31B
| $38.7M | 0.04% |
462,951
+365,887
| +377% | +$29.7M |
|
361
Zoetis
ZTS
$30.4B
| $38.2M | 0.03% |
303,252
+59,821
| +25% | +$7.8M |
|
362
Datadog
DDOG
$86.5B
| $38M | 0.03% |
279,558
+145,494
| +109% | +$23M |
|
363
Becton Dickinson
BDX
$50B
| $38M | 0.03% |
195,751
+43,418
| +29% | +$8.26M |
|
364
CALL
Iris Energy
IREN
$15.6B
| $37.8M | 0.03% |
+10,000
| New | +$516K |
|
|
365
PUT
Iris Energy
IREN
$15.6B
| $37.8M | 0.03% |
+10,000
| New | +$516K |
|
366
Apollo Global Management
APO
$81.9B
| $37.7M | 0.03% |
260,935
-12,982
| -5% | -$1.72M |
|
367
Invesco S&P 500 Equal Weight ETF
RSP
$99.5B
| $37.7M | 0.03% |
196,960
+2,107
| +1% | +$400K |
|
368
Broadridge
BR
$19.3B
| $37.6M | 0.03% |
168,420
+89,615
| +114% | +$20.4M |
|
369
PUT
ARK Israel Innovative Technology ETF
IZRL
$139M
| $37.6M | 0.03% |
4,882
+2,382
| +95% | +$69.8K |
|
370
J.M. Smucker
SJM
$12.7B
| $37.5M | 0.03% |
383,030
-1,018,143
| -73% | -$105M |
|
371
eBay
EBAY
$45.5B
| $37.3M | 0.03% |
428,444
+281,359
| +191% | +$24.4M |
|
|
372
CALL
ARK Israel Innovative Technology ETF
IZRL
$139M
| $37.2M | 0.03% |
4,834
+2,334
| +93% | +$68.4K |
|
373
RB Global
RBA
$16B
| $37.2M | 0.03% |
367,758
+18,379
| +5% | +$1.87M |
|
374
Bausch Health
BHC
$2.32B
| $36.9M | 0.03% |
5,315,669
-2,407,382
| -31% | -$15.8M |
|
375
Idexx Laboratories
IDXX
$45B
| $36.7M | 0.03% |
54,295
+7,587
| +16% | +$5.17M |
|
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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.