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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 | |
|---|---|---|---|---|---|---|
751
Lumentum
LITE
$78B
| $8.36M | 0.01% |
51,396
+50,684
| +7,119% | +$6.32M |
|
752
Healthpeak Properties
DOC
$14.3B
| $8.34M | 0.01% |
435,183
-50,601
| -10% | -$907K |
|
753
Williams-Sonoma
WSM
$28.5B
| $8.3M | 0.01% |
42,465
-46,067
| -52% | -$8.8M |
|
|
SAND
754
DELISTED
Sandstorm Gold
SAND
| $8.18M | 0.01% |
657,334
-42,763
| -6% | -$455K |
|
755
Kyndryl
KD
$3.04B
| $8.16M | 0.01% |
271,738
+20,729
| +8% | +$712K |
|
756
State Street SPDR S&P Oil & Gas Exploration & Production ETF
XOP
$3.69B
| $8.14M | 0.01% |
61,608
+51,287
| +497% | +$6.62M |
|
|
EXE
757
Expand Energy Corp
EXE
$21.9B
| $8.11M | 0.01% |
76,379
-90,006
| -54% | -$9.03M |
|
758
Vanguard Total International Bond ETF
BNDX
$83B
| $8.1M | 0.01% |
163,850
+122,793
| +299% | +$6.06M |
|
|
CTRA
759
DELISTED
Coterra Energy
CTRA
| $8.06M | 0.01% |
341,005
-192,631
| -36% | -$4.65M |
|
760
The GEO Group
GEO
$4B
| $8.05M | 0.01% |
392,785
+9,988
| +3% | +$228K |
|
761
Blue Owl Capital
OWL
$19.7B
| $8.04M | 0.01% |
475,101
+24,537
| +5% | +$467K |
|
762
Snap-on
SNA
$20.9B
| $8.02M | 0.01% |
23,140
-22,320
| -49% | -$7.31M |
|
763
General Mills
GIS
$20.8B
| $8M | 0.01% |
158,634
-308,573
| -66% | -$15.5M |
|
764
PPG Industries
PPG
$25.5B
| $7.98M | 0.01% |
75,875
-84,781
| -53% | -$9.42M |
|
765
Tractor Supply
TSCO
$18.8B
| $7.96M | 0.01% |
140,055
-234,881
| -63% | -$13.8M |
|
766
Compañía de Minas Buenaventura
BVN
$8.55B
| $7.95M | 0.01% |
326,847
-71,286
| -18% | -$1.34M |
|
767
Ameren
AEE
$30.2B
| $7.94M | 0.01% |
76,077
-118,586
| -61% | -$11.8M |
|
768
Sempra
SRE
$56.5B
| $7.93M | 0.01% |
88,118
-286,562
| -76% | -$23.2M |
|
769
Vanguard Morningstar Mid-Cap Value ETF
VOE
$24.5B
| $7.92M | 0.01% |
45,358
-25
| -0.1% | -$4.25K |
|
770
HSBC
HSBC
$358B
| $7.88M | 0.01% |
111,004
+7,917
| +8% | +$515K |
|
771
Clorox
CLX
$12.9B
| $7.85M | 0.01% |
63,667
-23,693
| -27% | -$2.94M |
|
772
Avery Dennison
AVY
$13.6B
| $7.82M | 0.01% |
48,242
-6,543
| -12% | -$1.13M |
|
773
The Mosaic Company
MOS
$6.92B
| $7.75M | 0.01% |
223,607
-765,958
| -77% | -$26.4M |
|
774
Vanguard FTSE Europe ETF
VGK
$31.1B
| $7.74M | 0.01% |
97,064
-84,808
| -47% | -$6.64M |
|
775
IDEX
IEX
$17.6B
| $7.66M | 0.01% |
47,042
-5,744
| -11% | -$970K |
|
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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.