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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 | |
|---|---|---|---|---|---|---|
551
GE HealthCare
GEHC
$33.1B
| $17.1M | 0.02% |
227,764
-671,929
| -75% | -$50.1M |
|
552
Expedia Group
EXPE
$39.1B
| $17.1M | 0.02% |
79,917
-6,858
| -8% | -$1.38M |
|
553
CALL
General Dynamics
GD
$106B
| $17.1M | 0.02% |
+500
| New | +$158K |
|
554
Huntington Bancshares
HBAN
$36.1B
| $17M | 0.02% |
984,988
-751,353
| -43% | -$12.8M |
|
555
NetApp
NTAP
$40.1B
| $17M | 0.02% |
143,535
-97,149
| -40% | -$10.9M |
|
|
556
iShares Core MSCI EAFE ETF
IEFA
$196B
| $16.8M | 0.02% |
192,450
-8,257,105
| -98% | -$702M |
|
557
First Majestic Silver
AG
$9.18B
| $16.8M | 0.02% |
1,368,929
+70,716
| +5% | +$655K |
|
558
PUT
Lucid Motors
LCID
$2.53B
| $16.6M | 0.02% |
+6,987
| New | +$158K |
|
|
SPYM
559
State Street SPDR Portfolio S&P 500 ETF
SPYM
$169B
| $16.5M | 0.02% |
210,777
-30,917
| -13% | -$2.33M |
|
560
Sprott Physical Gold
PHYS
$15.8B
| $16.5M | 0.02% |
562,516
+44,367
| +9% | +$1.18M |
|
561
Mitsubishi UFJ Financial
MUFG
$261B
| $16.4M | 0.02% |
1,031,631
+63,439
| +7% | +$939K |
|
562
Veralto
VLTO
$23.6B
| $16.4M | 0.02% |
153,420
-98,380
| -39% | -$10.4M |
|
563
Synchrony
SYF
$26B
| $16.4M | 0.02% |
230,173
-36,362
| -14% | -$2.63M |
|
564
Diamondback Energy
FANG
$55.7B
| $16.2M | 0.02% |
113,429
-93,484
| -45% | -$13.3M |
|
565
CALL
Pembina Pipeline
PBA
$28.5B
| $16.2M | 0.02% |
4,011
-1,524
| -28% | -$57.5K |
|
566
CALL
Canadian Pacific Kansas City
CP
$82.4B
| $16.2M | 0.02% |
2,173
+703
| +48% | +$53.7K |
|
567
iShares 5-10 Year Investment Grade Corporate Bond ETF
IGIB
$18.6B
| $16.1M | 0.02% |
298,240
+118,137
| +66% | +$6.32M |
|
568
PUT
Suncor Energy
SU
$76.3B
| $15.9M | 0.02% |
3,810
-13
| -0.3% | -$521 |
|
569
Molson Coors Class B
TAP
$7.83B
| $15.9M | 0.02% |
351,691
-71,707
| -17% | -$3.54M |
|
570
CALL
L3Harris
LHX
$53.7B
| $15.9M | 0.02% |
+520
| New | +$142K |
|
571
CALL
Paychex
PAYX
$43.3B
| $15.8M | 0.02% |
+1,250
| New | +$173K |
|
572
Ulta Beauty
ULTA
$22.1B
| $15.8M | 0.02% |
28,809
-24,030
| -45% | -$12.3M |
|
573
iShares Floating Rate Bond ETF
FLOT
$10.5B
| $15.6M | 0.02% |
305,551
-161,780
| -35% | -$8.25M |
|
574
Cincinnati Financial
CINF
$26.5B
| $15.5M | 0.02% |
98,351
-12,553
| -11% | -$1.91M |
|
575
Schwab US Large-Cap Growth ETF
SCHG
$63B
| $15.5M | 0.02% |
485,830
+484,200
| +29,706% | +$14.8M |
|
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.