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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 | |
|---|---|---|---|---|---|---|
726
Ferrari
RACE
$72.5B
| $9.24M | 0.01% |
19,040
+1,026
| +6% | +$492K |
|
727
American Water Works
AWK
$27.1B
| $9.22M | 0.01% |
66,276
-76,373
| -54% | -$10.8M |
|
728
Everest Group
EG
$14B
| $9.17M | 0.01% |
26,187
-14,318
| -35% | -$4.83M |
|
729
Mettler-Toledo International
MTD
$28.7B
| $9.17M | 0.01% |
7,469
-9,156
| -55% | -$11.5M |
|
730
PUT
Quantum Computing Inc
QUBT
$2.02B
| $9.15M | 0.01% |
4,970
-433
| -8% | -$7.43K |
|
731
Equifax
EFX
$21.8B
| $9.11M | 0.01% |
35,517
-55,258
| -61% | -$13.9M |
|
732
CMS Energy
CMS
$22.1B
| $9.08M | 0.01% |
123,907
-125,799
| -50% | -$9.04M |
|
733
CALL
Simplify US Equity PLUS Convexity ETF
SPYC
$121M
| $9.08M | 0.01% |
+1,750
| New | +$72.8K |
|
|
B
734
PUT
Barrick Mining
B
$67.3B
| $9.06M | 0.01% |
2,758
+67
| +2% | +$1.7K |
|
735
Deckers Outdoor
DECK
$12.7B
| $9.04M | 0.01% |
89,211
-94,802
| -52% | -$10.3M |
|
736
iShares MSCI USA Quality Factor ETF
QUAL
$48.4B
| $9.02M | 0.01% |
46,350
-2,229
| -5% | -$418K |
|
737
Red Cat Holdings
RCAT
$1.56B
| $8.97M | 0.01% |
866,871
+554,471
| +177% | +$5.18M |
|
|
738
PUT
Red Cat Holdings
RCAT
$1.56B
| $8.97M | 0.01% |
8,668
+1,739
| +25% | +$16.2K |
|
739
Ventas
VTR
$46.3B
| $8.96M | 0.01% |
128,004
-255,310
| -67% | -$17.2M |
|
|
OKLO
740
Oklo
OKLO
$8.64B
| $8.77M | 0.01% |
78,560
-34,601
| -31% | -$2.71M |
|
741
SAP
SAP
$242B
| $8.75M | 0.01% |
32,745
-18,566
| -36% | -$5.22M |
|
742
Coca-Cola Europacific Partners
CCEP
$47.5B
| $8.68M | 0.01% |
95,972
-28,542
| -23% | -$2.65M |
|
743
Regions Financial
RF
$27B
| $8.67M | 0.01% |
328,772
-603,455
| -65% | -$15.7M |
|
744
Eversource Energy
ES
$27.2B
| $8.65M | 0.01% |
121,643
-135,130
| -53% | -$8.86M |
|
745
Live Nation Entertainment
LYV
$43.3B
| $8.61M | 0.01% |
52,716
-59,281
| -53% | -$9.37M |
|
746
Ball Corp
BALL
$16.4B
| $8.58M | 0.01% |
170,150
-23,773
| -12% | -$1.29M |
|
747
KeyCorp
KEY
$24.6B
| $8.5M | 0.01% |
454,612
-659,069
| -59% | -$12.2M |
|
748
iShares 1-3 Year Treasury Bond ETF
SHY
$25.5B
| $8.49M | 0.01% |
102,395
-9,242
| -8% | -$764K |
|
749
Builders FirstSource
BLDR
$7.91B
| $8.44M | 0.01% |
69,621
-44,377
| -39% | -$5.89M |
|
750
CALL
Telus
TU
$15.2B
| $8.41M | 0.01% |
5,339
-3,114
| -37% | -$50.5K |
|
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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.