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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 | |
|---|---|---|---|---|---|---|
|
GLXY
776
Galaxy Digital Inc
GLXY
$4.07B
| $7.6M | 0.01% |
175,318
-40,905
| -19% | -$1.1M |
|
777
Weyerhaeuser
WY
$17.9B
| $7.6M | 0.01% |
306,385
-209,664
| -41% | -$5.36M |
|
778
State Street SPDR Bloomberg 1-3 Month T-Bill ETF
BIL
$46.7B
| $7.58M | 0.01% |
82,605
+749
| +0.9% | +$68.6K |
|
779
CF Industries
CF
$17.7B
| $7.55M | 0.01% |
84,182
-314,492
| -79% | -$28M |
|
780
First Trust Cloud Computing ETF
SKYY
$3.38B
| $7.54M | 0.01% |
56,151
+1,097
| +2% | +$138K |
|
781
PUT
SPDR Gold Trust
GLD
$142B
| $7.54M | 0.01% |
212
| – | – |
|
782
Align Technology
ALGN
$12.5B
| $7.51M | 0.01% |
59,963
+526
| +0.9% | +$82.4K |
|
783
Paycom
PAYC
$10.1B
| $7.43M | 0.01% |
35,696
-3,674
| -9% | -$828K |
|
784
Ciena
CIEN
$62.7B
| $7.42M | 0.01% |
50,941
-44,840
| -47% | -$4.57M |
|
785
Ralph Lauren
RL
$23.1B
| $7.41M | 0.01% |
23,624
-3,975
| -14% | -$1.18M |
|
786
Primoris Services
PRIM
$4.35B
| $7.4M | 0.01% |
53,917
+53,915
| +2,695,750% | +$5.79M |
|
787
Jabil
JBL
$38.8B
| $7.37M | 0.01% |
33,953
-41,054
| -55% | -$8.94M |
|
788
AvalonBay Communities
AVB
$26.3B
| $7.34M | 0.01% |
37,978
-61,938
| -62% | -$12.1M |
|
789
Universal Health Services
UHS
$10.1B
| $7.31M | 0.01% |
35,773
-5,260
| -13% | -$946K |
|
790
iShares Core S&P Mid-Cap ETF
IJH
$128B
| $7.27M | 0.01% |
111,390
-15,399
| -12% | -$990K |
|
791
iShares Broad USD High Yield Corporate Bond ETF
USHY
$29.2B
| $7.23M | 0.01% |
191,503
-296,523
| -61% | -$11.1M |
|
792
iShares MSCI EAFE Value ETF
EFV
$30.1B
| $7.15M | 0.01% |
105,432
+100,007
| +1,843% | +$6.59M |
|
793
Stanley Black & Decker
SWK
$15.4B
| $7.15M | 0.01% |
96,135
-12,484
| -11% | -$915K |
|
794
News Corp Class A
NWSA
$15.6B
| $7.14M | 0.01% |
232,576
-30,920
| -12% | -$916K |
|
795
State Street SPDR EURO STOXX 50 ETF
FEZ
$4.56B
| $7.11M | 0.01% |
114,411
+100,775
| +739% | +$6.05M |
|
796
Halliburton
HAL
$27.4B
| $7.1M | 0.01% |
288,598
-315,465
| -52% | -$6.98M |
|
797
Camden Property Trust
CPT
$11.1B
| $7.05M | 0.01% |
66,022
-43,624
| -40% | -$4.79M |
|
798
Corpay
CPAY
$27.9B
| $7.04M | 0.01% |
24,426
-24,739
| -50% | -$7.89M |
|
799
Atmos Energy
ATO
$28.7B
| $6.98M | 0.01% |
40,897
-31,159
| -43% | -$5.03M |
|
800
UDR
UDR
$12.2B
| $6.94M | 0.01% |
186,268
-24,333
| -12% | -$949K |
|
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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.