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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 | |
|---|---|---|---|---|---|---|
426
Unilever
UL
$135B
| $26.5M | 0.03% |
398,076
-46,481
| -10% | -$3.21M |
|
427
United Parcel Service
UPS
$89.6B
| $26.5M | 0.03% |
317,352
-327,945
| -51% | -$29.7M |
|
428
Ford
F
$55.3B
| $26.5M | 0.03% |
2,215,290
-1,042,445
| -32% | -$12M |
|
429
PUT
Verizon
VZ
$198B
| $26.4M | 0.03% |
6,000
+3,000
| +100% | +$130K |
|
430
Aflac
AFL
$60.7B
| $26.4M | 0.03% |
236,071
-133,380
| -36% | -$14M |
|
|
GRMN
431
Garmin
GRMN
$60.3B
| $26.2M | 0.03% |
106,529
-6,210
| -6% | -$1.43M |
|
432
W.W. Grainger
GWW
$61.9B
| $26.2M | 0.03% |
27,514
-3,532
| -11% | -$3.55M |
|
433
CALL
Eaton
ETN
$177B
| $26.2M | 0.03% |
700
-1,059
| -60% | -$385K |
|
434
Nasdaq
NDAQ
$54B
| $25.9M | 0.03% |
293,357
-168,746
| -37% | -$15.6M |
|
435
Duke Energy
DUK
$96.7B
| $25.8M | 0.03% |
208,407
-351,614
| -63% | -$42.7M |
|
436
Fastenal
FAST
$59B
| $25.7M | 0.03% |
524,009
-619,851
| -54% | -$29.3M |
|
437
CALL
Marathon Digital Holdings
MARA
$3.55B
| $25.6M | 0.03% |
+14,000
| New | +$236K |
|
|
438
PUT
Marathon Digital Holdings
MARA
$3.55B
| $25.6M | 0.03% |
+14,000
| New | +$236K |
|
439
Public Service Enterprise Group
PEG
$37.7B
| $25.5M | 0.03% |
304,991
-48,130
| -14% | -$4.04M |
|
440
Vanguard Dividend Appreciation ETF
VIG
$115B
| $25.3M | 0.03% |
117,336
+1,406
| +1% | +$295K |
|
441
CALL
Berkshire Hathaway Class B
BRK.B
$1.09T
| $25.1M | 0.03% |
+500
| New | +$242K |
|
442
CALL
Fortis
FTS
$28.8B
| $25M | 0.02% |
4,929
+2,189
| +80% | +$108K |
|
443
CALL
Coca-Cola
KO
$377B
| $24.9M | 0.02% |
+3,750
| New | +$258K |
|
444
PUT
Wynn Resorts
WYNN
$10.5B
| $24.8M | 0.02% |
+1,937
| New | +$224K |
|
445
Fidelity National Information Services
FIS
$22.2B
| $24.7M | 0.02% |
374,797
-55,950
| -13% | -$4.08M |
|
446
Trade Desk
TTD
$6.65B
| $24.6M | 0.02% |
502,776
+360,804
| +254% | +$22.9M |
|
447
CALL
CrowdStrike
CRWD
$230B
| $24.5M | 0.02% |
+2,000
| New | +$227K |
|
448
Fortinet
FTNT
$121B
| $24.4M | 0.02% |
290,581
-943,752
| -76% | -$84.2M |
|
449
CALL
Constellation Energy
CEG
$98.1B
| $24.1M | 0.02% |
+733
| New | +$237K |
|
450
Consolidated Edison
ED
$40B
| $24.1M | 0.02% |
239,905
-30,591
| -11% | -$3.07M |
|
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VAM
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.