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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 | |
|---|---|---|---|---|---|---|
801
iShares MSCI EAFE Min Vol Factor ETF
EFAV
$5.46B
| $6.93M | 0.01% |
+81,678
| New | +$6.9M |
|
802
Trimble
TRMB
$13.4B
| $6.92M | 0.01% |
84,730
-86,471
| -51% | -$7.05M |
|
803
HP
HPQ
$28.6B
| $6.91M | 0.01% |
253,927
-412,653
| -62% | -$11M |
|
804
First Trust NASDAQ Cybersecurity ETF
CIBR
$16B
| $6.91M | 0.01% |
90,922
+14,724
| +19% | +$1.09M |
|
805
ASE Group
ASX
$103B
| $6.89M | 0.01% |
+620,900
| New | +$6.5M |
|
806
Vanguard Intermediate-Term Treasury ETF
VGIT
$42.5B
| $6.88M | 0.01% |
114,659
+53,619
| +88% | +$3.2M |
|
807
Vanguard Intermediate-Term Corporate Bond ETF
VCIT
$67.8B
| $6.85M | 0.01% |
81,424
-784,142
| -91% | -$65.2M |
|
808
Willis Towers Watson
WTW
$31B
| $6.8M | 0.01% |
19,699
-71,613
| -78% | -$23.2M |
|
|
SA
809
Seabridge Gold
SA
$3.46B
| $6.8M | 0.01% |
283,638
+186,592
| +192% | +$3.23M |
|
810
Dow Inc
DOW
$21.9B
| $6.76M | 0.01% |
294,901
-344,175
| -54% | -$8.57M |
|
811
Packaging Corp of America
PKG
$22.9B
| $6.73M | 0.01% |
30,859
-119,082
| -79% | -$24.6M |
|
812
Assurant
AIZ
$13.9B
| $6.68M | 0.01% |
30,825
-4,288
| -12% | -$870K |
|
813
CenterPoint Energy
CNP
$26.7B
| $6.59M | 0.01% |
169,860
-286,533
| -63% | -$10.8M |
|
814
International Flavors & Fragrances
IFF
$21.4B
| $6.55M | 0.01% |
106,429
-95,658
| -47% | -$6.57M |
|
|
GRP.U
815
DELISTED
Granite Real Estate Investment Trust
GRP.U
| $6.55M | 0.01% |
118,061
-837
| -0.7% | -$45.9K |
|
816
Global X US Preferred ETF
PFFD
$2.18B
| $6.51M | 0.01% |
334,995
| – | – |
|
817
AirSculpt Technologies
AIRS
$244M
| $6.46M | 0.01% |
+805,000
| New | +$4.98M |
|
818
Invesco
IVZ
$14.3B
| $6.43M | 0.01% |
280,465
-479,511
| -63% | -$9.95M |
|
819
PUT
TC Energy
TRP
$65.8B
| $6.43M | 0.01% |
1,183
+514
| +77% | +$25.8K |
|
820
Labcorp
LH
$26.2B
| $6.43M | 0.01% |
22,404
-36,121
| -62% | -$9.68M |
|
821
PUT
Pembina Pipeline
PBA
$28.4B
| $6.42M | 0.01% |
1,587
-348
| -18% | -$13.1K |
|
822
State Street Consumer Staples Select Sector SPDR ETF
XLP
$14.9B
| $6.4M | 0.01% |
81,720
+21,024
| +35% | +$1.7M |
|
823
OR Royalties Inc
OR
$6.15B
| $6.37M | 0.01% |
167,537
+25,489
| +18% | +$795K |
|
824
Schwab US REIT ETF
SCHH
$11.4B
| $6.36M | 0.01% |
294,926
-17,142
| -5% | -$366K |
|
825
PUT
Aehr Test Systems
AEHR
$4.02B
| $6.34M | 0.01% |
2,105
-500
| -19% | -$10.8K |
|
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.