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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 | |
|---|---|---|---|---|---|---|
526
Rockwell Automation
ROK
$49.7B
| $18.3M | 0.02% |
52,259
-79,323
| -60% | -$27.4M |
|
527
CALL
Cenovus Energy
CVE
$56.3B
| $18.2M | 0.02% |
10,728
-4,815
| -31% | -$75.2K |
|
528
PUT
AST SpaceMobile
ASTS
$21.5B
| $18.1M | 0.02% |
3,695
-1,992
| -35% | -$96K |
|
529
Coeur Mining
CDE
$18.7B
| $18.1M | 0.02% |
964,257
-81,163
| -8% | -$993K |
|
|
XYZ
530
PUT
Block Inc
XYZ
$48.9B
| $18.1M | 0.02% |
2,500
+500
| +25% | +$37.4K |
|
531
iShares Select Dividend ETF
DVY
$23.9B
| $18M | 0.02% |
126,997
+8,439
| +7% | +$1.17M |
|
532
Fidelity Disruptive Automation ETF
FBOT
$224M
| $18M | 0.02% |
550,430
+19,728
| +4% | +$622K |
|
533
Emcor
EME
$37B
| $18M | 0.02% |
27,690
+27,377
| +8,747% | +$16.6M |
|
534
Raymond James Financial
RJF
$34.6B
| $18M | 0.02% |
104,026
-24,993
| -19% | -$4.14M |
|
535
Lennar Class A
LEN
$21B
| $18M | 0.02% |
142,429
-19,881
| -12% | -$2.47M |
|
536
iShares MSCI Intl Quality Factor ETF
IQLT
$14.3B
| $17.8M | 0.02% |
403,049
+16,835
| +4% | +$726K |
|
537
PUT
Enbridge
ENB
$113B
| $17.8M | 0.02% |
3,527
-538
| -13% | -$25.3K |
|
538
D.R. Horton
DHI
$41.5B
| $17.7M | 0.02% |
104,234
-149,589
| -59% | -$23.5M |
|
539
Colliers International
CIGI
$5.29B
| $17.7M | 0.02% |
114,296
+1,091
| +1% | +$168K |
|
540
Cboe Global Markets
CBOE
$30.6B
| $17.5M | 0.02% |
71,280
-8,925
| -11% | -$2.14M |
|
541
Nucor
NUE
$61.9B
| $17.4M | 0.02% |
128,114
-36,076
| -22% | -$5.11M |
|
542
Kenvue
KVUE
$36.7B
| $17.3M | 0.02% |
1,063,005
-381,571
| -26% | -$7.79M |
|
543
Brown & Brown
BRO
$23.6B
| $17.2M | 0.02% |
183,684
-16,040
| -8% | -$1.56M |
|
544
Zimmer Biomet
ZBH
$18.7B
| $17.2M | 0.02% |
174,968
+23,004
| +15% | +$2.28M |
|
545
T. Rowe Price
TROW
$23.6B
| $17.2M | 0.02% |
167,678
-98,268
| -37% | -$10.3M |
|
546
iShares 20+ Year Treasury Bond ETF
TLT
$40.8B
| $17.2M | 0.02% |
192,182
+23,021
| +14% | +$2.01M |
|
547
Sprott Physical Gold and Silver Trust
CEF
$8.22B
| $17.2M | 0.02% |
473,112
+81,271
| +21% | +$2.61M |
|
548
Barclays
BCS
$94.7B
| $17.1M | 0.02% |
829,275
-16,443
| -2% | -$326K |
|
549
Citizens Financial Group
CFG
$31.2B
| $17.1M | 0.02% |
321,959
-140,849
| -30% | -$7.01M |
|
550
CoStar Group
CSGP
$12.7B
| $17.1M | 0.02% |
202,856
-212,770
| -51% | -$18.8M |
|
Similar funds
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.