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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 | |
|---|---|---|---|---|---|---|
1001
Toyota
TM
$223B
| $2.91M | ﹤0.01% |
15,240
-9,184
| -38% | -$1.73M |
|
1002
PUT
Symbotic
SYM
$5.43B
| $2.9M | ﹤0.01% |
538
-200
| -27% | -$10.1K |
|
1003
iShares S&P 500 Growth ETF
IVW
$77.9B
| $2.87M | ﹤0.01% |
23,817
-407
| -2% | -$46.8K |
|
1004
East-West Bancorp
EWBC
$18.6B
| $2.87M | ﹤0.01% |
26,981
-48,568
| -64% | -$5.11M |
|
1005
DigitalBridge
DBRG
$2.94B
| $2.87M | ﹤0.01% |
245,235
-20,302
| -8% | -$227K |
|
1006
Capricor Therapeutics
CAPR
$244M
| $2.87M | ﹤0.01% |
397,700
+229,000
| +136% | +$1.69M |
|
|
1007
PUT
Capricor Therapeutics
CAPR
$244M
| $2.87M | ﹤0.01% |
3,977
+1,143
| +40% | +$8.42K |
|
1008
First Horizon
FHN
$12.3B
| $2.86M | ﹤0.01% |
+126,707
| New | +$2.82M |
|
1009
Invesco NASDAQ 100 ETF
QQQM
$104B
| $2.83M | ﹤0.01% |
11,465
-1,096
| -9% | -$258K |
|
|
PPTA
1010
Perpetua Resources
PPTA
$3.1B
| $2.8M | ﹤0.01% |
140,195
+139,738
| +30,577% | +$2.36M |
|
1011
Boston Properties
BXP
$11B
| $2.8M | ﹤0.01% |
37,603
-74,438
| -66% | -$5.25M |
|
1012
APA Corp
APA
$14B
| $2.79M | ﹤0.01% |
114,716
-96,158
| -46% | -$2.03M |
|
1013
Coca-Cola Femsa
KOF
$22.9B
| $2.78M | ﹤0.01% |
33,573
+439
| +1% | +$37.9K |
|
1014
Jack Henry & Associates
JKHY
$11.1B
| $2.78M | ﹤0.01% |
18,687
-32,178
| -63% | -$5.34M |
|
1015
RLI Corp
RLI
$5.87B
| $2.78M | ﹤0.01% |
42,665
+991
| +2% | +$67K |
|
1016
Pinnacle West Capital
PNW
$12.2B
| $2.78M | ﹤0.01% |
30,960
-51,997
| -63% | -$4.68M |
|
1017
Webster Financial
WBS
$12.8B
| $2.76M | ﹤0.01% |
+46,377
| New | +$2.76M |
|
|
SKE
1018
Skeena Resources
SKE
$4.07B
| $2.74M | ﹤0.01% |
149,009
+83,231
| +127% | +$1.36M |
|
1019
GSK
GSK
$101B
| $2.73M | ﹤0.01% |
63,354
-3,598
| -5% | -$141K |
|
1020
First Citizens BancShares
FCNCA
$25.6B
| $2.72M | ﹤0.01% |
1,522
-2,174
| -59% | -$4.29M |
|
1021
WisdomTree Europe Hedged Equity Fund
HEDJ
$1.88B
| $2.69M | ﹤0.01% |
53,317
+1,149
| +2% | +$56.7K |
|
1022
PUT
Fortuna Silver Mines
FSM
$3.1B
| $2.68M | ﹤0.01% |
+2,997
| New | +$21.9K |
|
1023
Sprott Junior Uranium Miners ETF
URNJ
$359M
| $2.68M | ﹤0.01% |
92,602
+37,653
| +69% | +$872K |
|
1024
Lamb Weston
LW
$7.39B
| $2.68M | ﹤0.01% |
46,119
-55,633
| -55% | -$3.04M |
|
1025
CALL
Newmont
NEM
$120B
| $2.67M | ﹤0.01% |
441
+211
| +92% | +$14.7K |
|
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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.