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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 | |
|---|---|---|---|---|---|---|
|
K
576
DELISTED
Kellanova
K
| $15.5M | 0.02% |
188,890
-262,386
| -58% | -$20.9M |
|
577
Pultegroup
PHM
$24.9B
| $15.5M | 0.02% |
117,112
-41,384
| -26% | -$5.14M |
|
578
iShare MSCI Eurozone ETF
EZU
$9.96B
| $15.5M | 0.02% |
249,875
+125,711
| +101% | +$7.55M |
|
579
XPO
XPO
$24.7B
| $15.4M | 0.02% |
119,467
-714
| -0.6% | -$92.7K |
|
580
SSR Mining
SSRM
$6.49B
| $15.4M | 0.02% |
635,420
-53,945
| -8% | -$913K |
|
|
581
PUT
Royal Bank of Canada
RY
$299B
| $15.4M | 0.02% |
1,042
+194
| +23% | +$26.7K |
|
582
Dover
DOV
$27.8B
| $15.3M | 0.02% |
91,655
-10,932
| -11% | -$1.96M |
|
583
ON Semiconductor
ON
$31.8B
| $15.2M | 0.02% |
308,262
-261,869
| -46% | -$13.8M |
|
584
Jacobs Solutions
J
$16.8B
| $15.1M | 0.02% |
100,698
-26,448
| -21% | -$3.8M |
|
585
CALL
Aflac
AFL
$60.7B
| $15.1M | 0.02% |
+1,350
| New | +$142K |
|
586
Deutsche Bank
DB
$72.1B
| $15M | 0.01% |
328,327
+7,623
| +2% | +$260K |
|
587
Vermilion Energy
VET
$1.72B
| $14.9M | 0.01% |
1,913,153
-128,341
| -6% | -$992K |
|
588
Western Digital
WDC
$168B
| $14.9M | 0.01% |
123,834
-120,072
| -49% | -$9.81M |
|
589
Marathon Petroleum
MPC
$100B
| $14.8M | 0.01% |
76,587
-106,431
| -58% | -$18.7M |
|
590
Humana
HUM
$46.2B
| $14.8M | 0.01% |
56,719
-179,598
| -76% | -$47.2M |
|
591
Vanguard Extended Market ETF
VXF
$32.3B
| $14.7M | 0.01% |
70,400
+70,100
| +23,367% | +$14.2M |
|
592
Royal Gold
RGLD
$19.1B
| $14.7M | 0.01% |
73,263
-86,328
| -54% | -$14.9M |
|
593
Sanofi
SNY
$105B
| $14.7M | 0.01% |
310,406
+164
| +0.1% | +$7.92K |
|
594
PUT
Toronto Dominion Bank
TD
$203B
| $14.6M | 0.01% |
1,824
+352
| +24% | +$26.4K |
|
595
Toll Brothers
TOL
$14B
| $14.5M | 0.01% |
105,298
+4,024
| +4% | +$525K |
|
|
SOBO
596
South Bow Corp
SOBO
$7.64B
| $14.4M | 0.01% |
518,299
-77,580
| -13% | -$2.11M |
|
597
Teledyne Technologies
TDY
$31.2B
| $14.4M | 0.01% |
24,586
-8,180
| -25% | -$4.48M |
|
598
iShares MSCI Emerging Markets ex China ETF
EMXC
$24.7B
| $14.3M | 0.01% |
+211,700
| New | +$13.7M |
|
599
PUT
Scotiabank
BNS
$111B
| $14.3M | 0.01% |
2,207
-6
| -0.3% | -$354 |
|
600
NVR
NVR
$17B
| $14.2M | 0.01% |
1,768
-273
| -13% | -$2.17M |
|
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.