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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 | |
|---|---|---|---|---|---|---|
551
CALL
Agnico Eagle Mines
AEM
$90.8B
| $17.9M | 0.02% |
1,053
+359
| +52% | +$60.3K |
|
552
Emcor
EME
$37.1B
| $17.8M | 0.02% |
29,166
+1,476
| +5% | +$956K |
|
553
Public Storage
PSA
$61.2B
| $17.8M | 0.02% |
68,540
-1,656
| -2% | -$463K |
|
554
Schwab US Large-Cap Growth ETF
SCHG
$63B
| $17.8M | 0.02% |
545,475
+59,645
| +12% | +$1.94M |
|
555
Waters Corp
WAT
$40.7B
| $17.8M | 0.02% |
46,741
+30,761
| +192% | +$11.3M |
|
556
Molson Coors Class B
TAP
$7.85B
| $17.7M | 0.02% |
379,106
+27,415
| +8% | +$1.26M |
|
557
Mitsubishi UFJ Financial
MUFG
$261B
| $17.7M | 0.02% |
1,115,580
+83,949
| +8% | +$1.3M |
|
558
Realty Income
O
$59.8B
| $17.7M | 0.02% |
313,425
-173,207
| -36% | -$10M |
|
559
NetApp
NTAP
$40.2B
| $17.6M | 0.02% |
164,728
+21,193
| +15% | +$2.42M |
|
560
American Water Works
AWK
$27.1B
| $17.6M | 0.02% |
134,666
+68,390
| +103% | +$9.14M |
|
561
IQVIA
IQV
$39.5B
| $17.5M | 0.02% |
77,436
+23,635
| +44% | +$5.14M |
|
562
KraneShares CSI China Internet ETF
KWEB
$5.31B
| $17.3M | 0.02% |
509,059
+53,156
| +12% | +$2.04M |
|
563
Quest Diagnostics
DGX
$26.1B
| $17.3M | 0.02% |
99,792
+43,270
| +77% | +$7.88M |
|
564
Charter Communications
CHTR
$18.3B
| $17.1M | 0.02% |
81,877
+36,219
| +79% | +$8.15M |
|
565
Pultegroup
PHM
$24.8B
| $17.1M | 0.02% |
145,683
+28,571
| +24% | +$3.5M |
|
566
Biogen
BIIB
$31.1B
| $17M | 0.02% |
96,542
+23,425
| +32% | +$3.83M |
|
567
CALL
Carvana
CVNA
$81.6B
| $16.9M | 0.02% |
+2,000
| New | +$149K |
|
|
EFXT
568
Enerflex
EFXT
$2.63B
| $16.9M | 0.02% |
1,095,226
+571,923
| +109% | +$7.6M |
|
569
Equifax
EFX
$21.4B
| $16.8M | 0.02% |
77,443
+41,926
| +118% | +$9.18M |
|
570
Martin Marietta Materials
MLM
$32.9B
| $16.8M | 0.02% |
26,974
-7,523
| -22% | -$4.68M |
|
571
Vanguard Extended Market ETF
VXF
$32.2B
| $16.8M | 0.02% |
80,300
+9,900
| +14% | +$2.08M |
|
572
Crown Castle
CCI
$32.3B
| $16.8M | 0.02% |
188,557
-348,702
| -65% | -$32.1M |
|
|
573
PUT
Royal Bank of Canada
RY
$298B
| $16.6M | 0.02% |
975
-67
| -6% | -$10.3K |
|
574
Weatherford International
WFRD
$6.57B
| $16.6M | 0.02% |
+212,142
| New | +$15.4M |
|
575
iShare MSCI Eurozone ETF
EZU
$9.95B
| $16.5M | 0.02% |
258,300
+8,425
| +3% | +$528K |
|
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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.