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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 | |
|---|---|---|---|---|---|---|
626
CALL
AST SpaceMobile
ASTS
$21.4B
| $12.6M | 0.01% |
2,560
-4,982
| -66% | -$240K |
|
627
Charter Communications
CHTR
$18.7B
| $12.6M | 0.01% |
45,658
-57,827
| -56% | -$17.5M |
|
628
Wayfair
W
$13.9B
| $12.5M | 0.01% |
139,969
-403,466
| -74% | -$29.6M |
|
629
CALL
Nutrien
NTR
$32.2B
| $12.5M | 0.01% |
2,127
-157
| -7% | -$9.15K |
|
630
Fair Isaac
FICO
$24B
| $12.5M | 0.01% |
8,337
-13,115
| -61% | -$19.7M |
|
631
CoreCivic
CXW
$3.13B
| $12.5M | 0.01% |
613,000
+322,000
| +111% | +$6.67M |
|
632
Archer Daniels Midland
ADM
$38.6B
| $12.4M | 0.01% |
207,884
-193,497
| -48% | -$11.3M |
|
633
CALL
MetLife
MET
$61.9B
| $12.4M | 0.01% |
+1,500
| New | +$118K |
|
634
Gartner
IT
$11.6B
| $12.3M | 0.01% |
46,849
-21,243
| -31% | -$6.2M |
|
635
CALL
Corning
GLW
$137B
| $12.3M | 0.01% |
+1,500
| New | +$98K |
|
636
iShares US Treasury Bond ETF
GOVT
$43.8B
| $12.2M | 0.01% |
527,638
+189,994
| +56% | +$4.36M |
|
637
Mueller Industries
MLI
$14.7B
| $12.2M | 0.01% |
241,050
+2,904
| +1% | +$133K |
|
638
Teradyne
TER
$64.2B
| $12.2M | 0.01% |
88,501
-252,707
| -74% | -$27.6M |
|
639
Principal Financial Group
PFG
$24.6B
| $12.2M | 0.01% |
146,807
-18,414
| -11% | -$1.47M |
|
|
640
CALL
Wayfair
W
$13.9B
| $12.2M | 0.01% |
+1,361
| New | +$99.7K |
|
641
GDS Holdings
GDS
$6.97B
| $12.1M | 0.01% |
312,400
-57,200
| -15% | -$2.03M |
|
642
Steel Dynamics
STLD
$37.3B
| $12.1M | 0.01% |
86,585
-10,899
| -11% | -$1.43M |
|
643
iShares International Select Dividend ETF
IDV
$8.53B
| $12M | 0.01% |
328,335
-39,839
| -11% | -$1.43M |
|
644
Dick's Sporting Goods
DKS
$18.1B
| $12M | 0.01% |
53,972
+6,701
| +14% | +$1.46M |
|
645
Schwab Short-Term US Treasury ETF
SCHO
$13B
| $11.9M | 0.01% |
488,303
-81,300
| -14% | -$1.98M |
|
646
West Pharmaceutical
WST
$24.4B
| $11.9M | 0.01% |
45,303
-5,623
| -11% | -$1.37M |
|
647
PTC
PTC
$16.7B
| $11.9M | 0.01% |
58,372
-25,476
| -30% | -$5.19M |
|
|
VNET
648
VNET Group
VNET
$2.12B
| $11.8M | 0.01% |
+1,146,500
| New | +$9.65M |
|
649
Atour Lifestyle Holdings
ATAT
$4.5B
| $11.8M | 0.01% |
+315,000
| New | +$11.5M |
|
650
GoDaddy
GDDY
$12.7B
| $11.7M | 0.01% |
85,667
-37,668
| -31% | -$5.8M |
|
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.