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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 | |
|---|---|---|---|---|---|---|
476
IAMGOLD
IAG
$10B
| $23.4M | 0.02% |
1,426,707
-761,805
| -35% | -$10.7M |
|
|
EMA
477
CALL
Emera Inc
EMA
$15.7B
| $23.4M | 0.02% |
4,746
-2,393
| -34% | -$116K |
|
478
Sysco
SYY
$40.5B
| $23.3M | 0.02% |
316,750
+92,460
| +41% | +$7.03M |
|
479
Expedia Group
EXPE
$38.9B
| $23.3M | 0.02% |
82,209
+2,292
| +3% | +$566K |
|
480
ResMed
RMD
$32.6B
| $23.3M | 0.02% |
96,663
+26,816
| +38% | +$6.86M |
|
481
PUT
Chipotle Mexican Grill
CMG
$41.6B
| $23.1M | 0.02% |
+6,250
| New | +$226K |
|
482
PUT
Manulife Financial
MFC
$72.6B
| $23.1M | 0.02% |
6,367
-1,053
| -14% | -$35.7K |
|
483
Keysight
KEYS
$61B
| $23M | 0.02% |
113,220
+57,184
| +102% | +$10.6M |
|
484
Allstate
ALL
$65.1B
| $22.8M | 0.02% |
109,368
-86,866
| -44% | -$17.8M |
|
485
Tapestry
TPR
$26.5B
| $22.6M | 0.02% |
177,077
+7,275
| +4% | +$832K |
|
486
CALL
Booking.com
BKNG
$159B
| $22.5M | 0.02% |
+1,050
| New | +$216K |
|
487
NRG Energy
NRG
$25.3B
| $22.3M | 0.02% |
140,082
+6,349
| +5% | +$1.05M |
|
488
DTE Energy
DTE
$28.9B
| $22.1M | 0.02% |
171,657
-316,538
| -65% | -$43M |
|
489
Comfort Systems
FIX
$61.2B
| $22.1M | 0.02% |
23,700
+22,781
| +2,479% | +$21M |
|
490
CALL
Thermo Fisher Scientific
TMO
$221B
| $22M | 0.02% |
+380
| New | +$215K |
|
491
CALL
Philip Morris
PM
$295B
| $21.9M | 0.02% |
+1,367
| New | +$212K |
|
492
Zimmer Biomet
ZBH
$18.7B
| $21.9M | 0.02% |
243,470
+68,502
| +39% | +$6.5M |
|
493
Entergy
ETR
$49.8B
| $21.8M | 0.02% |
236,399
+97,058
| +70% | +$9.21M |
|
494
DuPont de Nemours
DD
$19.4B
| $21.8M | 0.02% |
180,392
-156,474
| -46% | -$17.6M |
|
495
EQT Corp
EQT
$33.7B
| $21.8M | 0.02% |
405,873
+19,894
| +5% | +$1.12M |
|
496
Aflac
AFL
$60.6B
| $21.7M | 0.02% |
197,134
-38,937
| -16% | -$4.29M |
|
497
Aon
AON
$74.3B
| $21.7M | 0.02% |
61,526
-99,998
| -62% | -$34.9M |
|
498
Mueller Industries
MLI
$14.8B
| $21.7M | 0.02% |
378,202
+137,152
| +57% | +$7.37M |
|
|
GRMN
499
Garmin
GRMN
$60.4B
| $21.7M | 0.02% |
106,904
+375
| +0.4% | +$81.5K |
|
500
Xylem
XYL
$28B
| $21.7M | 0.02% |
159,044
+8,077
| +5% | +$1.16M |
|
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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.