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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 | |
|---|---|---|---|---|---|---|
676
M&T Bank
MTB
$36.6B
| $10.7M | 0.01% |
54,180
-95,147
| -64% | -$18.7M |
|
677
Zscaler
ZS
$30.4B
| $10.7M | 0.01% |
35,700
-151,278
| -81% | -$43.1M |
|
678
Essex Property Trust
ESS
$18.5B
| $10.7M | 0.01% |
39,808
-5,191
| -12% | -$1.4M |
|
679
KT
KT
$9.03B
| $10.7M | 0.01% |
546,871
+3,840
| +0.7% | +$78.3K |
|
680
Centene
CNC
$32.6B
| $10.6M | 0.01% |
298,272
-59,060
| -17% | -$1.78M |
|
681
Fortuna Silver Mines
FSM
$3.1B
| $10.6M | 0.01% |
1,195,531
-581,736
| -33% | -$4.25M |
|
682
CALL
Lucid Motors
LCID
$2.54B
| $10.6M | 0.01% |
+4,465
| New | +$101K |
|
683
Amcor
AMCR
$21.4B
| $10.6M | 0.01% |
259,456
-103,130
| -28% | -$4.62M |
|
684
iShares Core US Aggregate Bond ETF
AGG
$138B
| $10.5M | 0.01% |
104,779
+8,239
| +9% | +$817K |
|
685
Kimco Realty
KIM
$16.4B
| $10.5M | 0.01% |
479,867
-702,180
| -59% | -$15.3M |
|
686
Atlassian
TEAM
$42.1B
| $10.5M | 0.01% |
65,500
+21,156
| +48% | +$3.83M |
|
687
NiSource
NI
$20.2B
| $10.5M | 0.01% |
241,525
-87,586
| -27% | -$3.63M |
|
688
State Street Industrial Select Sector SPDR ETF
XLI
$34.7B
| $10.4M | 0.01% |
67,584
+709
| +1% | +$107K |
|
689
Spotify
SPOT
$102B
| $10.4M | 0.01% |
14,845
+3,894
| +36% | +$2.72M |
|
|
OKLO
690
PUT
Oklo
OKLO
$8.64B
| $10.3M | 0.01% |
927
-1,641
| -64% | -$128K |
|
691
Vanguard Short-Term Bond ETF
BSV
$45.7B
| $10.3M | 0.01% |
131,033
+17,384
| +15% | +$1.37M |
|
692
GFL Environmental
GFL
$15B
| $10.3M | 0.01% |
218,004
+10,570
| +5% | +$512K |
|
693
Cemex
CX
$16B
| $10.3M | 0.01% |
+1,142,700
| New | +$9.75M |
|
|
FITB
694
Fifth Third Bancorp
FITB
$52.5B
| $10.3M | 0.01% |
230,101
-410,094
| -64% | -$18M |
|
695
Biogen
BIIB
$31.1B
| $10.2M | 0.01% |
73,117
-70,095
| -49% | -$9.47M |
|
696
Invitation Homes
INVH
$18B
| $10.2M | 0.01% |
348,844
-49,658
| -12% | -$1.53M |
|
697
IQVIA
IQV
$39.8B
| $10.2M | 0.01% |
53,801
-163,694
| -75% | -$29.8M |
|
698
VICI Properties
VICI
$29B
| $10.2M | 0.01% |
312,377
-426,458
| -58% | -$14.1M |
|
699
Mid-America Apartment Communities
MAA
$15.6B
| $10.2M | 0.01% |
72,806
-9,331
| -11% | -$1.35M |
|
700
KE Holdings
BEKE
$18.7B
| $10.1M | 0.01% |
533,600
-2,696,900
| -83% | -$50.6M |
|
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.