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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 | |
|---|---|---|---|---|---|---|
401
PUT
State Street SPDR NYSE Technology ETF
XNTK
$2.25B
| $32.4M | 0.03% |
5,000
+1,588
| +47% | +$444K |
|
402
PUT
Advanced Micro Devices
AMD
$788B
| $32.1M | 0.03% |
1,500
-3,025
| -67% | -$679K |
|
403
Ametek
AME
$59.3B
| $31.9M | 0.03% |
155,377
+8,166
| +6% | +$1.59M |
|
404
PUT
Visa
V
$671B
| $31.9M | 0.03% |
+909
| New | +$310K |
|
405
MetLife
MET
$61.4B
| $31.8M | 0.03% |
402,742
+5,726
| +1% | +$453K |
|
406
Air Products & Chemicals
APD
$67.7B
| $31.7M | 0.03% |
128,435
+91,269
| +246% | +$23.1M |
|
407
D.R. Horton
DHI
$40.8B
| $31.5M | 0.03% |
218,665
+114,431
| +110% | +$17.4M |
|
408
US Bancorp
USB
$101B
| $31.1M | 0.03% |
583,801
-869,684
| -60% | -$42.8M |
|
409
Etsy
ETSY
$7.31B
| $30.9M | 0.03% |
557,929
+557,927
| +27,896,350% | +$34M |
|
410
Digital Realty Trust
DLR
$72.9B
| $30.9M | 0.03% |
199,456
+40,382
| +25% | +$6.63M |
|
|
XYZ
411
Block Inc
XYZ
$47B
| $30.8M | 0.03% |
472,866
-71,666
| -13% | -$4.94M |
|
412
CALL
Goldman Sachs
GS
$302B
| $30.8M | 0.03% |
350
-494
| -59% | -$403K |
|
413
CALL
Cisco
CSCO
$488B
| $30.8M | 0.03% |
3,992
-1,008
| -20% | -$74.8K |
|
414
W.W. Grainger
GWW
$61.5B
| $30.6M | 0.03% |
30,360
+2,846
| +10% | +$2.76M |
|
415
Airbnb
ABNB
$108B
| $30.5M | 0.03% |
224,689
-209,513
| -48% | -$26.1M |
|
416
Otis Worldwide
OTIS
$28.2B
| $30.4M | 0.03% |
348,544
+38,218
| +12% | +$3.42M |
|
417
PUT
TSMC
TSM
$2.23T
| $30.4M | 0.03% |
+1,000
| New | +$293K |
|
418
Descartes Systems
DSGX
$6.65B
| $30.4M | 0.03% |
347,073
+126,930
| +58% | +$11.3M |
|
419
Kraft Heinz
KHC
$29.1B
| $30.3M | 0.03% |
1,250,302
+449,384
| +56% | +$11.2M |
|
420
Rockwell Automation
ROK
$50.1B
| $30.3M | 0.03% |
77,829
+25,570
| +49% | +$9.61M |
|
421
Ameriprise Financial
AMP
$49.9B
| $30.2M | 0.03% |
61,590
-27,993
| -31% | -$13.3M |
|
422
Corteva
CTVA
$50.4B
| $30.2M | 0.03% |
449,849
+45,470
| +11% | +$2.94M |
|
423
DexCom
DXCM
$34.3B
| $30.1M | 0.03% |
453,301
+50,735
| +13% | +$3.28M |
|
424
PUT
Sun Life Financial
SLF
$44.4B
| $29.9M | 0.03% |
4,784
-298
| -6% | -$18K |
|
425
Republic Services
RSG
$65.6B
| $29.7M | 0.03% |
139,923
-15,578
| -10% | -$3.35M |
|
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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.