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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 | |
|---|---|---|---|---|---|---|
501
VanEck Junior Gold Miners ETF
GDXJ
$8.3B
| $21.5M | 0.02% |
189,128
-6,915
| -4% | -$715K |
|
502
CALL
TJX Companies
TJX
$169B
| $21.5M | 0.02% |
1,400
-1,100
| -44% | -$163K |
|
503
CALL
Workday
WDAY
$43.7B
| $21.5M | 0.02% |
+1,000
| New | +$227K |
|
504
Vanguard Total Bond Market
BND
$162B
| $21.3M | 0.02% |
288,273
+40,833
| +17% | +$3.04M |
|
505
Humana
HUM
$46.1B
| $21.3M | 0.02% |
83,230
+26,511
| +47% | +$6.95M |
|
506
Mettler-Toledo International
MTD
$28.5B
| $21.1M | 0.02% |
15,159
+7,690
| +103% | +$10.7M |
|
507
Barclays
BCS
$94.8B
| $21M | 0.02% |
826,663
-2,612
| -0.3% | -$57.9K |
|
508
CBRE Group
CBRE
$43.3B
| $20.9M | 0.02% |
130,299
-51,057
| -28% | -$8.03M |
|
509
Textron
TXT
$15B
| $20.9M | 0.02% |
239,380
+126,178
| +111% | +$10.6M |
|
510
Devon Energy
DVN
$48.6B
| $20.7M | 0.02% |
563,985
+279,781
| +98% | +$9.77M |
|
511
iShares Core S&P Total US Stock Market ETF
ITOT
$98.4B
| $20.6M | 0.02% |
138,809
+71,333
| +106% | +$10.5M |
|
512
CALL
Analog Devices
ADI
$188B
| $20.6M | 0.02% |
758
-542
| -42% | -$136K |
|
513
iShares Select Dividend ETF
DVY
$23.9B
| $20.5M | 0.02% |
145,184
+18,187
| +14% | +$2.57M |
|
514
B2Gold
BTG
$6.67B
| $20.4M | 0.02% |
4,557,557
-1,936,005
| -30% | -$9.02M |
|
515
Coca-Cola Europacific Partners
CCEP
$47.4B
| $20.3M | 0.02% |
223,869
+127,897
| +133% | +$11.6M |
|
516
Albemarle
ALB
$15.4B
| $20.3M | 0.02% |
143,287
+98,763
| +222% | +$11.2M |
|
517
PUT
Enbridge
ENB
$113B
| $20.3M | 0.02% |
4,235
+708
| +20% | +$33.8K |
|
518
Estee Lauder
EL
$31.7B
| $20.1M | 0.02% |
192,173
+35,554
| +23% | +$3.45M |
|
519
iShares MSCI Intl Quality Factor ETF
IQLT
$14.3B
| $19.7M | 0.02% |
434,010
+30,961
| +8% | +$1.39M |
|
520
PUT
Canadian Natural Resources
CNQ
$97.6B
| $19.7M | 0.02% |
5,809
-69
| -1% | -$2.24K |
|
521
Archer Daniels Midland
ADM
$38.8B
| $19.6M | 0.02% |
341,120
+133,236
| +64% | +$7.96M |
|
522
Prudential Financial
PRU
$42.9B
| $19.6M | 0.02% |
173,554
-97,814
| -36% | -$10.5M |
|
523
CALL
Capital One
COF
$137B
| $19.6M | 0.02% |
+807
| New | +$180K |
|
524
Equinox Gold
EQX
$13B
| $19.5M | 0.02% |
1,399,654
-1,142,718
| -45% | -$14.4M |
|
525
Sprott Physical Gold
PHYS
$15.8B
| $19.4M | 0.02% |
592,806
+30,290
| +5% | +$959K |
|
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VAM
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.