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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 | |
|---|---|---|---|---|---|---|
826
Invesco CurrencyShares Japanese Yen Trust
FXY
$426M
| $6.48M | 0.01% |
110,608
+97,708
| +757% | +$5.83M |
|
827
Dave & Buster's
PLAY
$370M
| $6.45M | 0.01% |
+398,000
| New | +$6.66M |
|
828
Pool Corp
POOL
$7.29B
| $6.4M | 0.01% |
27,984
+20,952
| +298% | +$5.45M |
|
829
HEICO Corp Class A
HEI.A
$38.1B
| $6.37M | 0.01% |
25,231
+24,364
| +2,810% | +$6.02M |
|
830
News Corp Class A
NWSA
$15.6B
| $6.36M | 0.01% |
243,363
+10,787
| +5% | +$283K |
|
831
Nordson
NDSN
$17.3B
| $6.31M | 0.01% |
26,238
-1,550
| -6% | -$364K |
|
832
Fox Class B
FOX
$24.4B
| $6.25M | 0.01% |
96,332
-130,128
| -57% | -$7.6M |
|
833
iShares Broad USD High Yield Corporate Bond ETF
USHY
$29.2B
| $6.22M | 0.01% |
166,207
-25,296
| -13% | -$947K |
|
834
PUT
TC Energy
TRP
$65.8B
| $6.21M | 0.01% |
1,128
-55
| -5% | -$2.93K |
|
|
AMRZ
835
Amrize Ltd
AMRZ
$25.6B
| $6.2M | 0.01% |
114,617
+29,159
| +34% | +$1.49M |
|
836
The GEO Group
GEO
$4B
| $6.17M | 0.01% |
383,000
-9,785
| -2% | -$163K |
|
837
Principal Financial Group
PFG
$24.6B
| $6.15M | 0.01% |
69,685
-77,122
| -53% | -$6.51M |
|
838
Novartis
NVS
$288B
| $6.12M | 0.01% |
44,411
+5,042
| +13% | +$660K |
|
839
Baytex Energy
BTE
$3B
| $6.07M | 0.01% |
1,882,599
+486,742
| +35% | +$1.36M |
|
840
Globe Life
GL
$14B
| $6.07M | 0.01% |
43,379
+2,659
| +7% | +$360K |
|
841
Solventum
SOLV
$14.7B
| $6.05M | 0.01% |
76,333
-4,164
| -5% | -$319K |
|
842
Viatris
VTRS
$18.4B
| $6.02M | 0.01% |
483,752
+95,273
| +25% | +$1.03M |
|
843
PUT
Canadian Imperial Bank of Commerce
CM
$112B
| $6.02M | 0.01% |
664
+18
| +3% | +$1.54K |
|
844
iShares 1-3 Year Treasury Bond ETF
SHY
$25.5B
| $5.95M | 0.01% |
71,831
-30,564
| -30% | -$2.53M |
|
|
OKLO
845
Oklo
OKLO
$8.64B
| $5.9M | 0.01% |
82,220
+3,660
| +5% | +$408K |
|
846
Skyworks Solutions
SWKS
$10.5B
| $5.87M | 0.01% |
92,616
+41,776
| +82% | +$2.92M |
|
|
SKE
847
Skeena Resources
SKE
$4.07B
| $5.84M | 0.01% |
246,400
+97,391
| +65% | +$1.92M |
|
848
VanEck Fallen Angel High Yield Bond ETF
ANGL
$3.12B
| $5.82M | 0.01% |
198,374
-5,595
| -3% | -$165K |
|
849
Fortrea Holdings
FTRE
$1.69B
| $5.81M | 0.01% |
337,000
+138,000
| +69% | +$1.7M |
|
|
EXAS
850
DELISTED
Exact Sciences
EXAS
| $5.8M | 0.01% |
+57,152
| New | +$4.59M |
|
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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.