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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 | |
|---|---|---|---|---|---|---|
926
CALL
Franco-Nevada
FNV
$44.7B
| $3.96M | ﹤0.01% |
178
-191
| -52% | -$34.4K |
|
|
FFOX
927
FundX Future Fund Opportunities ETF
FFOX
$249M
| $3.95M | ﹤0.01% |
143,898
+133,872
| +1,335% | +$3.58M |
|
928
C.H. Robinson
CHRW
$17.5B
| $3.95M | ﹤0.01% |
29,828
-52,943
| -64% | -$6.21M |
|
929
Teva Pharmaceuticals
TEVA
$42.6B
| $3.93M | ﹤0.01% |
194,310
+179,229
| +1,188% | +$3.15M |
|
930
Invesco S&P Global Water Index ETF
CGW
$1.06B
| $3.92M | ﹤0.01% |
61,073
+12,146
| +25% | +$769K |
|
931
Skyworks Solutions
SWKS
$10.5B
| $3.91M | ﹤0.01% |
50,840
-54,231
| -52% | -$4.04M |
|
932
CALL
Teck Resources
TECK
$31.3B
| $3.91M | ﹤0.01% |
892
-78
| -8% | -$2.83K |
|
933
Incyte
INCY
$24.4B
| $3.9M | ﹤0.01% |
45,975
-66,364
| -59% | -$5.25M |
|
934
TKO Group
TKO
$14.6B
| $3.89M | ﹤0.01% |
19,263
-27,614
| -59% | -$5.05M |
|
935
Vanguard Health Care ETF
VHT
$19B
| $3.87M | ﹤0.01% |
14,925
-1,132
| -7% | -$284K |
|
936
Tencent Music
TME
$14.2B
| $3.85M | ﹤0.01% |
165,119
+54,821
| +50% | +$1.27M |
|
937
Viatris
VTRS
$18.4B
| $3.85M | ﹤0.01% |
388,479
-423,960
| -52% | -$4.13M |
|
938
Liberty Global Class A
LBTYA
$3.58B
| $3.84M | ﹤0.01% |
+335,000
| New | +$3.69M |
|
939
iShares US Aerospace & Defense ETF
ITA
$14.9B
| $3.83M | ﹤0.01% |
18,337
+4,028
| +28% | +$793K |
|
940
State Street SPDR S&P Biotech ETF
XBI
$10.3B
| $3.82M | ﹤0.01% |
38,159
+7,675
| +25% | +$691K |
|
941
Grupo Aeroportuario Centro Norte
OMAB
$5.19B
| $3.79M | ﹤0.01% |
+36,500
| New | +$3.91M |
|
942
Sprott Physical Silver Trust
PSLV
$13.3B
| $3.79M | ﹤0.01% |
243,458
+76,119
| +45% | +$1.02M |
|
943
CALL
Brookfield Renewable
BEPC
$6.66B
| $3.77M | ﹤0.01% |
1,096
+301
| +38% | +$10.3K |
|
944
DaVita
DVA
$11.4B
| $3.74M | ﹤0.01% |
28,120
-21,232
| -43% | -$2.92M |
|
945
VanEck Environmental Services ETF
EVX
$102M
| $3.73M | ﹤0.01% |
95,891
-153
| -0.2% | -$5.95K |
|
946
State Street SPDR Portfolio Intermediate Term Corporate Bond ETF
SPIB
$11.6B
| $3.73M | ﹤0.01% |
109,937
+38,100
| +53% | +$1.28M |
|
947
Huntington Ingalls Industries
HII
$12.8B
| $3.7M | ﹤0.01% |
12,861
-14,294
| -53% | -$3.81M |
|
|
JMIA
948
Jumia Technologies
JMIA
$768M
| $3.7M | ﹤0.01% |
318,407
-70,243
| -18% | -$514K |
|
|
949
PUT
Teva Pharmaceuticals
TEVA
$42.6B
| $3.64M | ﹤0.01% |
+1,800
| New | +$31.6K |
|
950
SEALSQ Corp
LAES
$633M
| $3.63M | ﹤0.01% |
971,725
-3,375
| -0.3% | -$10.9K |
|
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.