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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 | |
|---|---|---|---|---|---|---|
951
PUT
SEALSQ Corp
LAES
$633M
| $3.63M | ﹤0.01% |
9,706
-45
| -0.5% | -$145 |
|
952
iShares Global Clean Energy ETF
ICLN
$2.11B
| $3.61M | ﹤0.01% |
233,376
+176,461
| +310% | +$2.5M |
|
953
Albemarle
ALB
$15.4B
| $3.61M | ﹤0.01% |
44,524
-31,304
| -41% | -$2.41M |
|
954
iShares US Healthcare ETF
IYH
$3.77B
| $3.6M | ﹤0.01% |
61,345
+1,085
| +2% | +$61.8K |
|
955
Banco Santander
SAN
$211B
| $3.59M | ﹤0.01% |
342,738
+249,458
| +267% | +$2.32M |
|
956
Domino's
DPZ
$11.6B
| $3.59M | ﹤0.01% |
8,315
-34,217
| -80% | -$15.5M |
|
957
Revvity
RVTY
$13.1B
| $3.57M | ﹤0.01% |
40,720
-41,695
| -51% | -$3.79M |
|
958
Anavex Life Sciences
AVXL
$303M
| $3.5M | ﹤0.01% |
393,171
+107,886
| +38% | +$1.09M |
|
959
iShares MSCI Emerging Markets Asia ETF
EEMA
$871M
| $3.49M | ﹤0.01% |
38,089
-16,361
| -30% | -$1.41M |
|
|
960
PUT
Anavex Life Sciences
AVXL
$303M
| $3.49M | ﹤0.01% |
3,922
-173
| -4% | -$1.75K |
|
961
iShares 0-1 Year Treasury Bond ETF
SHV
$20.6B
| $3.44M | ﹤0.01% |
31,176
+12,175
| +64% | +$1.34M |
|
962
Kinsale Capital Group
KNSL
$8.59B
| $3.43M | ﹤0.01% |
8,071
-3,106
| -28% | -$1.41M |
|
963
iShares Preferred and Income Securities ETF
PFF
$13.3B
| $3.41M | ﹤0.01% |
+108,000
| New | +$3.4M |
|
964
GlobalFoundries
GFS
$28.9B
| $3.41M | ﹤0.01% |
95,022
-49,159
| -34% | -$1.75M |
|
965
Alexandria Real Estate Equities
ARE
$8.33B
| $3.4M | ﹤0.01% |
40,844
-66,777
| -62% | -$5.35M |
|
966
Global X Defense Tech ETF
SHLD
$7.76B
| $3.39M | ﹤0.01% |
48,258
+10,780
| +29% | +$677K |
|
967
Invesco S&P 500 Momentum ETF
SPMO
$22.3B
| $3.37M | ﹤0.01% |
27,869
+2,135
| +8% | +$249K |
|
968
iShares MSCI Agriculture Producers ETF
VEGI
$147M
| $3.37M | ﹤0.01% |
85,963
+1,105
| +1% | +$44.4K |
|
969
PUT
KULR Technology Group
KULR
$137M
| $3.37M | ﹤0.01% |
8,093
+1,020
| +14% | +$5.43K |
|
|
SLVR
970
Sprott Silver Miners & Physical Silver ETF
SLVR
$746M
| $3.37M | ﹤0.01% |
75,955
+75,175
| +9,638% | +$2.6M |
|
|
SW
971
Smurfit Westrock
SW
$26.2B
| $3.34M | ﹤0.01% |
78,531
-275,395
| -78% | -$12.5M |
|
972
JPMorgan International Research Enhanced Equity ETF
JIRE
$11.4B
| $3.34M | ﹤0.01% |
+45,400
| New | +$3.26M |
|
973
Fox Class A
FOXA
$27.5B
| $3.34M | ﹤0.01% |
52,895
-98,080
| -65% | -$5.67M |
|
974
PUT
Rogers Communications
RCI
$19.7B
| $3.33M | ﹤0.01% |
968
+447
| +86% | +$15.4K |
|
975
VanEck Semiconductor ETF
SMH
$72.5B
| $3.33M | ﹤0.01% |
10,200
+293
| +3% | +$86.7K |
|
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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.