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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 | |
|---|---|---|---|---|---|---|
501
Xcel Energy
XEL
$49.5B
| $19.5M | 0.02% |
242,096
-320,599
| -57% | -$23.2M |
|
502
CALL
Royal Caribbean
RCL
$83B
| $19.4M | 0.02% |
600
-10
| -2% | -$3.34K |
|
503
VanEck Junior Gold Miners ETF
GDXJ
$8.31B
| $19.4M | 0.02% |
196,043
-17,463
| -8% | -$1.34M |
|
504
Box
BOX
$4.49B
| $19.4M | 0.02% |
600,000
| – | – |
|
|
505
PUT
Box
BOX
$4.49B
| $19.4M | 0.02% |
6,000
| – | – |
|
506
CALL
AutoZone
AZO
$49.7B
| $19.3M | 0.02% |
+45
| New | +$181K |
|
507
W.R. Berkley
WRB
$26B
| $19.2M | 0.02% |
251,182
-58,110
| -19% | -$4.14M |
|
508
Tapestry
TPR
$26.4B
| $19.2M | 0.02% |
169,802
-16,267
| -9% | -$1.7M |
|
509
KraneShares CSI China Internet ETF
KWEB
$5.31B
| $19.1M | 0.02% |
455,903
-299,490
| -40% | -$11.2M |
|
510
WEC Energy
WEC
$35.8B
| $19.1M | 0.02% |
166,966
-24,543
| -13% | -$2.66M |
|
511
ResMed
RMD
$32.7B
| $19.1M | 0.02% |
69,847
-64,636
| -48% | -$17.7M |
|
512
NuScale Power
SMR
$3.98B
| $19.1M | 0.02% |
530,800
+528,300
| +21,132% | +$21.1M |
|
|
513
PUT
NuScale Power
SMR
$3.98B
| $19.1M | 0.02% |
5,308
+5,283
| +21,132% | +$211K |
|
514
Datadog
DDOG
$89.5B
| $19.1M | 0.02% |
134,064
+48,680
| +57% | +$6.7M |
|
515
Eldorado Gold
EGO
$10.1B
| $18.9M | 0.02% |
658,291
+75,368
| +13% | +$1.77M |
|
516
PUT
Canadian Natural Resources
CNQ
$97.6B
| $18.8M | 0.02% |
5,878
+133
| +2% | +$4.17K |
|
|
WCN
517
CALL
Waste Connections
WCN
$41.6B
| $18.8M | 0.02% |
1,069
+1,017
| +1,956% | +$185K |
|
518
Broadridge
BR
$19.2B
| $18.8M | 0.02% |
78,805
-9,624
| -11% | -$2.4M |
|
|
NOA
519
North American Construction
NOA
$405M
| $18.7M | 0.02% |
1,324,603
-70,799
| -5% | -$1.03M |
|
520
CALL
BCE
BCE
$21.5B
| $18.6M | 0.02% |
7,976
+2,278
| +40% | +$54.9K |
|
521
Extra Space Storage
EXR
$31.3B
| $18.5M | 0.02% |
131,520
-47,587
| -27% | -$6.83M |
|
522
Global X Uranium ETF
URA
$6.28B
| $18.5M | 0.02% |
388,631
+385,363
| +11,792% | +$15.9M |
|
523
Sysco
SYY
$40.4B
| $18.5M | 0.02% |
224,290
-120,687
| -35% | -$9.65M |
|
524
HDFC Bank
HDB
$119B
| $18.5M | 0.02% |
540,598
+494,674
| +1,077% | +$18.2M |
|
525
Vanguard Total Bond Market
BND
$161B
| $18.4M | 0.02% |
247,440
+28,083
| +13% | +$2.07M |
|
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.