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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 | |
|---|---|---|---|---|---|---|
701
Air Products & Chemicals
APD
$68B
| $10.1M | 0.01% |
37,166
-45,673
| -55% | -$13.2M |
|
702
Lightspeed Commerce
LSPD
$1.42B
| $10M | 0.01% |
868,854
+567,898
| +189% | +$6.95M |
|
703
Devon Energy
DVN
$48.8B
| $9.96M | 0.01% |
284,204
-171,569
| -38% | -$5.84M |
|
704
CALL
Kinross Gold
KGC
$31.9B
| $9.96M | 0.01% |
4,014
-2,425
| -38% | -$46.6K |
|
705
Xtrackers USD High Yield Corporate Bond ETF
HYLB
$3.48B
| $9.91M | 0.01% |
267,000
| – | – |
|
706
iShares Core S&P Total US Stock Market ETF
ITOT
$98.5B
| $9.83M | 0.01% |
67,476
-16,566
| -20% | -$2.32M |
|
707
Loews
L
$23B
| $9.81M | 0.01% |
97,718
-37,928
| -28% | -$3.59M |
|
708
Keysight
KEYS
$60.5B
| $9.8M | 0.01% |
56,036
-76,319
| -58% | -$12.7M |
|
709
Genuine Parts
GPC
$18.7B
| $9.8M | 0.01% |
70,697
-11,855
| -14% | -$1.59M |
|
710
Northern Trust
NTRS
$34.8B
| $9.78M | 0.01% |
72,669
-63,353
| -47% | -$8.15M |
|
711
Best Buy
BBY
$18B
| $9.73M | 0.01% |
128,648
-137,015
| -52% | -$9.83M |
|
712
iShares 10-20 Year Treasury Bond ETF
TLH
$10.9B
| $9.66M | 0.01% |
93,816
+92,874
| +9,859% | +$9.39M |
|
713
Targa Resources
TRGP
$57.2B
| $9.66M | 0.01% |
57,631
-96,235
| -63% | -$16M |
|
714
Tyson Foods
TSN
$19.8B
| $9.62M | 0.01% |
177,194
-22,829
| -11% | -$1.26M |
|
|
PPL
715
PPL Corp
PPL
$26.8B
| $9.61M | 0.01% |
258,576
-274,342
| -51% | -$9.86M |
|
716
Textron
TXT
$15.1B
| $9.56M | 0.01% |
113,202
-15,466
| -12% | -$1.26M |
|
717
iShares Semiconductor ETF
SOXX
$46.6B
| $9.56M | 0.01% |
35,256
+23,991
| +213% | +$5.98M |
|
718
CALL
Medtronic
MDT
$116B
| $9.52M | 0.01% |
+1,000
| New | +$91.9K |
|
719
Zebra Technologies
ZBRA
$18B
| $9.43M | 0.01% |
31,721
-21,755
| -41% | -$6.95M |
|
720
United Airlines
UAL
$41B
| $9.41M | 0.01% |
97,505
-133,102
| -58% | -$12.8M |
|
721
Aptiv
APTV
$10.2B
| $9.3M | 0.01% |
107,849
-152,004
| -58% | -$11.5M |
|
|
HOLX
722
DELISTED
Hologic
HOLX
| $9.29M | 0.01% |
137,607
-77,558
| -36% | -$5.15M |
|
723
Masco
MAS
$14.7B
| $9.27M | 0.01% |
131,750
-17,930
| -12% | -$1.26M |
|
724
Leidos
LDOS
$17.9B
| $9.27M | 0.01% |
49,064
-51,224
| -51% | -$8.92M |
|
|
LX
725
LexinFintech Holdings
LX
$236M
| $9.26M | 0.01% |
1,736,600
+664,900
| +62% | +$4.25M |
|
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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.