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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 | |
|---|---|---|---|---|---|---|
826
Aehr Test Systems
AEHR
$4.02B
| $6.33M | 0.01% |
210,300
-50,200
| -19% | -$1.09M |
|
827
Nordson
NDSN
$17.3B
| $6.31M | 0.01% |
27,788
-9,632
| -26% | -$2.12M |
|
|
ORLA
828
DELISTED
Orla Mining
ORLA
| $6.29M | 0.01% |
584,787
+90,972
| +18% | +$975K |
|
829
FirstEnergy
FE
$27.1B
| $6.25M | 0.01% |
136,483
-222,718
| -62% | -$9.51M |
|
830
Quantum Computing Inc
QUBT
$2.02B
| $6.24M | 0.01% |
338,967
+261,418
| +337% | +$4.48M |
|
831
Cooper Companies
COO
$14.9B
| $6.24M | 0.01% |
90,962
-48,850
| -35% | -$3.46M |
|
832
Graco
GGG
$13.3B
| $6.23M | 0.01% |
73,274
-1,438
| -2% | -$123K |
|
833
International Paper
IP
$21.8B
| $6.23M | 0.01% |
134,176
-234,333
| -64% | -$11.4M |
|
834
PUT
AirSculpt Technologies
AIRS
$244M
| $6.21M | 0.01% |
+7,740
| New | +$47.9K |
|
835
BHP
BHP
$222B
| $6.2M | 0.01% |
111,273
-5,783
| -5% | -$308K |
|
836
Xtrackers S&P 500 ESG ETF
SNPE
$2.8B
| $6.2M | 0.01% |
103,200
+25,500
| +33% | +$1.47M |
|
837
PUT
Cameco
CCJ
$42.6B
| $6.09M | 0.01% |
725
-77
| -10% | -$5.97K |
|
838
Bunge Global
BG
$21.7B
| $6.08M | 0.01% |
74,822
-47,600
| -39% | -$3.82M |
|
839
VanEck Fallen Angel High Yield Bond ETF
ANGL
$3.12B
| $6.06M | 0.01% |
203,969
+1,489
| +0.7% | +$43.6K |
|
840
AES
AES
$10.5B
| $6.06M | 0.01% |
460,057
-182,749
| -28% | -$2.37M |
|
841
Rollins
ROL
$17.4B
| $6.04M | 0.01% |
102,861
-94,112
| -48% | -$5.35M |
|
842
Texas Pacific Land
TPL
$23.9B
| $5.98M | 0.01% |
19,224
-20,295
| -51% | -$6.39M |
|
843
Hubbell
HUBB
$26.8B
| $5.97M | 0.01% |
13,875
-23,451
| -63% | -$10.1M |
|
|
SCHQ
844
Schwab Long-Term US Treasury ETF
SCHQ
$798M
| $5.92M | 0.01% |
183,200
+85,400
| +87% | +$2.7M |
|
845
Expeditors International
EXPD
$24.3B
| $5.9M | 0.01% |
48,108
-61,759
| -56% | -$7.34M |
|
846
Allegion
ALLE
$14.2B
| $5.88M | 0.01% |
33,138
-17,864
| -35% | -$2.95M |
|
847
Solventum
SOLV
$14.7B
| $5.88M | 0.01% |
80,497
-16,895
| -17% | -$1.24M |
|
848
PUT
Applied Digital
APLD
$8.81B
| $5.86M | 0.01% |
2,556
-698
| -21% | -$10.3K |
|
849
Norwegian Cruise Line
NCLH
$8.98B
| $5.84M | 0.01% |
237,043
-62,569
| -21% | -$1.52M |
|
850
Invesco Semiconductors ETF
PSI
$2.59B
| $5.83M | 0.01% |
83,040
+635
| +0.8% | +$40.2K |
|
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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.