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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
+5.14%
1 Year Est. Return
+46.34%
3 Year Est. Return
+120.97%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$110B
AUM Growth
+$9.55B
(+9.5%)
Cap. Flow
+$3.43B
Cap. Flow
% of AUM
3.12%
Top 10 Holdings %
Top 10 Hldgs %
29.27%
Holding
3,206
New
380
Increased
1,219
Reduced
855
Closed
337
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Meta Platforms (Facebook)
META
|
+$990M |
| 2 |
Alphabet (Google) Class A
GOOGL
|
+$877M |
| 3 |
Tesla
TSLA
|
+$841M |
| 4 |
Microsoft
MSFT
|
+$835M |
| 5 |
Alphabet (Google) Class C
GOOG
|
+$601M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$799M |
| 2 |
Toronto Dominion Bank
TD
|
+$363M |
| 3 |
Brookfield
BN
|
+$315M |
| 4 |
Salesforce
CRM
|
+$305M |
| 5 |
Royal Bank of Canada
RY
|
+$289M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 25.83% |
| 2 | Financials | 15.94% |
| 3 | Communication Services | 9.95% |
| 4 | Consumer Discretionary | 8.14% |
| 5 | Industrials | 6.47% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
801
First Majestic Silver
AG
$9.26B
| $7.11M | 0.01% |
427,076
-941,853
| -69% | -$13.1M |
|
802
CALL
Canadian Pacific Kansas City
CP
$82.6B
| $7.1M | 0.01% |
964
-1,209
| -56% | -$89K |
|
803
Lennox International
LII
$14.5B
| $7.09M | 0.01% |
14,597
+6,020
| +70% | +$3.02M |
|
804
Incyte
INCY
$24.4B
| $7.09M | 0.01% |
71,750
+25,775
| +56% | +$2.49M |
|
805
First Trust Cloud Computing ETF
SKYY
$3.38B
| $7.01M | 0.01% |
53,887
-2,264
| -4% | -$302K |
|
806
Neogen
NEOG
$2.59B
| $6.99M | 0.01% |
1,000,000
-412
| -0% | -$2.59K |
|
807
Invesco S&P 500 Momentum ETF
SPMO
$22.3B
| $6.98M | 0.01% |
58,517
+30,648
| +110% | +$3.67M |
|
808
Revvity
RVTY
$13.1B
| $6.96M | 0.01% |
71,958
+31,238
| +77% | +$3M |
|
809
Red Cat Holdings
RCAT
$1.56B
| $6.85M | 0.01% |
863,685
-3,186
| -0.4% | -$30.5K |
|
810
KeyCorp
KEY
$24.6B
| $6.85M | 0.01% |
331,812
-122,800
| -27% | -$2.29M |
|
811
Macy's
M
$6.27B
| $6.84M | 0.01% |
310,334
+308,783
| +19,909% | +$6.32M |
|
812
Boise Cascade
BCC
$2.94B
| $6.83M | 0.01% |
+92,956
| New | +$6.78M |
|
|
813
PUT
Red Cat Holdings
RCAT
$1.56B
| $6.83M | 0.01% |
8,617
-51
| -0.6% | -$488 |
|
814
Wynn Resorts
WYNN
$10.5B
| $6.83M | 0.01% |
56,755
-266,161
| -82% | -$32.9M |
|
815
First Trust NASDAQ Cybersecurity ETF
CIBR
$16B
| $6.76M | 0.01% |
94,702
+3,780
| +4% | +$283K |
|
816
BHP
BHP
$222B
| $6.73M | 0.01% |
111,579
+306
| +0.3% | +$17.4K |
|
817
Blue Owl Capital
OWL
$19.7B
| $6.73M | 0.01% |
451,261
-23,840
| -5% | -$373K |
|
|
DAY
818
DELISTED
Dayforce
DAY
| $6.71M | 0.01% |
96,995
+72,906
| +303% | +$5.02M |
|
819
Invesco Semiconductors ETF
PSI
$2.59B
| $6.71M | 0.01% |
85,090
+2,050
| +2% | +$157K |
|
|
OKLO
820
PUT
Oklo
OKLO
$8.64B
| $6.65M | 0.01% |
927
| – | – |
|
821
Fox Class A
FOXA
$27.5B
| $6.58M | 0.01% |
90,056
+37,161
| +70% | +$2.43M |
|
822
Assurant
AIZ
$13.9B
| $6.57M | 0.01% |
27,287
-3,538
| -11% | -$790K |
|
823
Invesco
IVZ
$14.3B
| $6.55M | 0.01% |
249,282
-31,183
| -11% | -$762K |
|
824
TPG
TPG
$8.86B
| $6.5M | 0.01% |
101,949
+8,034
| +9% | +$474K |
|
825
Vanguard Total International Bond ETF
BNDX
$83B
| $6.5M | 0.01% |
134,468
-29,382
| -18% | -$1.45M |
|
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National Bank of Canada's Q4 2025 Portfolio in Review
As of Q4 2025, National Bank of Canada held 3,206 positions worth $110B, up 9.5% from $100B the previous quarter. Its ten largest holdings account for 29% of the portfolio.
National Bank of Canada deployed $3.43B of net new capital in Q4 2025, opening 380 new positions and adding to 1,219 existing holdings. Its largest new stake was Roivant Sciences: 2,040,000 shares worth $44.3M.
By sector, the portfolio is most concentrated in Technology at 26% of assets, down from 27% a quarter earlier, followed by Financials and Communication Services.
On the sell side, the largest reduction was Apple, an estimated $799M trimmed.
- National Bank of Canada's largest Q4 2025 buy was Roivant Sciences: 2,040,000 shares worth $44.3M.
- National Bank of Canada added most to Meta Platforms (Facebook) in Q4 2025, an estimated $990M increase.
- National Bank of Canada's biggest Q4 2025 reduction was Apple, cutting an estimated $799M.
- National Bank of Canada fully exited Spirit AeroSystems in Q4 2025, selling an estimated $124M.
- National Bank of Canada's ten largest holdings make up 29% of its $110B portfolio in Q4 2025.
- National Bank of Canada opened 380 new positions and closed 337 in Q4 2025.
- National Bank of Canada's portfolio value rose 9.5% quarter-over-quarter to $110B.
Based on National Bank of Canada's 13F filing for Q4 2025, filed 17 Feb 2026.