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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 | |
|---|---|---|---|---|---|---|
|
GRRR
976
PUT
Gorilla Technology Group
GRRR
$428M
| $3.3M | ﹤0.01% |
+1,787
| New | +$32.8K |
|
977
Pacer US Small Cap Cash Cows 100 ETF
CALF
$3.9B
| $3.27M | ﹤0.01% |
74,774
+2,628
| +4% | +$111K |
|
978
Baytex Energy
BTE
$3B
| $3.26M | ﹤0.01% |
1,395,857
-1,035,087
| -43% | -$2.22M |
|
|
GRRR
979
CALL
Gorilla Technology Group
GRRR
$428M
| $3.26M | ﹤0.01% |
+1,767
| New | +$32.5K |
|
980
iShares MSCI USA Value Factor ETF
VLUE
$9.72B
| $3.25M | ﹤0.01% |
+26,000
| New | +$3.06M |
|
981
Invesco S&P 500 Equal Weight Health Care ETF
RSPH
$796M
| $3.19M | ﹤0.01% |
108,792
+103,497
| +1,955% | +$3M |
|
982
Baxter International
BAX
$14B
| $3.18M | ﹤0.01% |
139,593
-236,449
| -63% | -$6M |
|
983
Generac Holdings
GNRC
$12.8B
| $3.14M | ﹤0.01% |
18,753
-25,581
| -58% | -$4.48M |
|
984
iShares Convertible Bond ETF
ICVT
$7.64B
| $3.13M | ﹤0.01% |
31,300
| – | – |
|
|
JMIA
985
PUT
Jumia Technologies
JMIA
$768M
| $3.13M | ﹤0.01% |
2,692
-1,170
| -30% | -$8.56K |
|
986
Methanex
MEOH
$4.19B
| $3.12M | ﹤0.01% |
79,026
+5,796
| +8% | +$206K |
|
|
PULT
987
DELISTED
Putnam ESG Ultra Short ETF
PULT
| $3.11M | ﹤0.01% |
61,328
-2,124
| -3% | -$108K |
|
988
Pacer Global Cash Cows Dividend ETF
GCOW
$3.48B
| $3.11M | ﹤0.01% |
78,511
+6,226
| +9% | +$245K |
|
989
CALL
IAMGOLD
IAG
$10.1B
| $3.1M | ﹤0.01% |
2,402
+1,039
| +76% | +$9.1K |
|
990
Flex
FLEX
$45.9B
| $3.08M | ﹤0.01% |
53,088
-238,287
| -82% | -$12.7M |
|
991
Global X Silver Miners ETF NEW
SIL
$4.75B
| $3.06M | ﹤0.01% |
42,746
+4,363
| +11% | +$245K |
|
992
BJ's Restaurants
BJRI
$1.42B
| $3.05M | ﹤0.01% |
100,000
| – | – |
|
993
Symbotic
SYM
$5.43B
| $3.01M | ﹤0.01% |
55,906
-20,272
| -27% | -$1.02M |
|
994
Snowflake
SNOW
$117B
| $3.01M | ﹤0.01% |
13,338
-218,119
| -94% | -$46.8M |
|
995
iShares S&P 100 ETF
OEF
$20.6B
| $2.98M | ﹤0.01% |
8,970
-372
| -4% | -$118K |
|
996
State Street Energy Select Sector SPDR ETF
XLE
$39.9B
| $2.98M | ﹤0.01% |
66,636
-13,976
| -17% | -$612K |
|
997
National Grid
NGG
$81.6B
| $2.97M | ﹤0.01% |
41,465
+2,061
| +5% | +$145K |
|
|
HDV
998
iShares Core High Dividend ETF
HDV
$15.1B
| $2.97M | ﹤0.01% |
121,245
+1,215
| +1% | +$29.4K |
|
999
Hamilton Lane
HLNE
$5.91B
| $2.95M | ﹤0.01% |
21,920
-23,004
| -51% | -$3.47M |
|
1000
PUT
Franco-Nevada
FNV
$44.7B
| $2.94M | ﹤0.01% |
132
+60
| +83% | +$10.8K |
|
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.