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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 | |
|---|---|---|---|---|---|---|
651
Jacobs Solutions
J
$16.8B
| $13M | 0.01% |
97,938
-2,760
| -3% | -$405K |
|
652
M&T Bank
MTB
$36.6B
| $13M | 0.01% |
64,379
+10,199
| +19% | +$1.95M |
|
653
Gold Fields
GFI
$35.4B
| $12.9M | 0.01% |
296,588
-704,822
| -70% | -$29.5M |
|
654
Las Vegas Sands
LVS
$29.6B
| $12.9M | 0.01% |
198,696
+122,189
| +160% | +$7.49M |
|
|
FITB
655
Fifth Third Bancorp
FITB
$52.5B
| $12.9M | 0.01% |
275,932
+45,831
| +20% | +$2.02M |
|
|
SEE
656
DELISTED
Sealed Air
SEE
| $12.9M | 0.01% |
+311,016
| New | +$12M |
|
657
iShares International Select Dividend ETF
IDV
$8.53B
| $12.9M | 0.01% |
326,452
-1,883
| -0.6% | -$71.4K |
|
658
Trip.com Group
TCOM
$28.3B
| $12.9M | 0.01% |
178,889
-285,461
| -61% | -$20.4M |
|
659
Invesco FTSE RAFI Developed Markets ex-US ETF
PXF
$2.98B
| $12.8M | 0.01% |
196,034
+195,952
| +238,966% | +$12.4M |
|
660
CMS Energy
CMS
$22.1B
| $12.8M | 0.01% |
183,532
+59,625
| +48% | +$4.34M |
|
661
Ameren
AEE
$30.2B
| $12.8M | 0.01% |
127,809
+51,732
| +68% | +$5.3M |
|
|
662
PUT
Toronto Dominion Bank
TD
$203B
| $12.7M | 0.01% |
1,347
-477
| -26% | -$40.3K |
|
663
International Flavors & Fragrances
IFF
$21.4B
| $12.7M | 0.01% |
188,356
+81,927
| +77% | +$5.3M |
|
|
B
664
PUT
Barrick Mining
B
$67.3B
| $12.7M | 0.01% |
2,914
+156
| +6% | +$5.85K |
|
665
Coinbase
COIN
$40.6B
| $12.7M | 0.01% |
55,989
-939,669
| -94% | -$280M |
|
666
Deutsche Bank
DB
$72.1B
| $12.7M | 0.01% |
328,049
-278
| -0.1% | -$10K |
|
667
Ulta Beauty
ULTA
$22.2B
| $12.6M | 0.01% |
20,862
-7,947
| -28% | -$4.37M |
|
668
CALL
Cameco
CCJ
$42.6B
| $12.5M | 0.01% |
1,370
+699
| +104% | +$62.9K |
|
669
Centene
CNC
$32.6B
| $12.5M | 0.01% |
303,811
+5,539
| +2% | +$207K |
|
670
State Street
STT
$52.2B
| $12.5M | 0.01% |
96,842
-78,994
| -45% | -$9.46M |
|
|
EXE
671
Expand Energy Corp
EXE
$21.9B
| $12.5M | 0.01% |
113,129
+36,750
| +48% | +$4.08M |
|
672
Melco Resorts & Entertainment
MLCO
$2.14B
| $12.5M | 0.01% |
1,645,817
-560,585
| -25% | -$4.71M |
|
673
Vanguard Long-Term Treasury ETF
VGLT
$10.4B
| $12.4M | 0.01% |
223,100
-156,400
| -41% | -$8.9M |
|
674
Carlyle Group
CG
$18.3B
| $12.4M | 0.01% |
209,592
+26,478
| +14% | +$1.5M |
|
675
Methanex
MEOH
$4.19B
| $12.4M | 0.01% |
311,701
+232,675
| +294% | +$8.66M |
|
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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.