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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 | |
|---|---|---|---|---|---|---|
1126
iShares MSCI All Country Asia ex Japan ETF
AAXJ
$3.85B
| $1.5M | ﹤0.01% |
16,135
+8,407
| +109% | +$781K |
|
1127
Franklin FTSE Canada ETF
FLCA
$863M
| $1.49M | ﹤0.01% |
30,926
-40
| -0.1% | -$1.85K |
|
1128
CALL
Baytex Energy
BTE
$3.05B
| $1.49M | ﹤0.01% |
4,596
+1,348
| +42% | +$3.76K |
|
1129
Guidewire Software
GWRE
$14.4B
| $1.47M | ﹤0.01% |
7,325
+6,435
| +723% | +$1.42M |
|
1130
Compass Diversified
CODI
$908M
| $1.47M | ﹤0.01% |
306,875
+46,646
| +18% | +$295K |
|
1131
Avantis US Small Cap Value ETF
AVUV
$31B
| $1.44M | ﹤0.01% |
14,114
-990
| -7% | -$99K |
|
1132
CALL
Hudbay
HBM
$11.8B
| $1.43M | ﹤0.01% |
720
-266
| -27% | -$4.5K |
|
1133
Brown-Forman Class B
BF.B
$12.8B
| $1.42M | ﹤0.01% |
54,579
+28,842
| +112% | +$812K |
|
|
PROF
1134
Profound Medical
PROF
$252M
| $1.42M | ﹤0.01% |
189,510
+16,627
| +10% | +$107K |
|
1135
ARK Blockchain & Fintech Innovation ETF
ARKF
$782M
| $1.42M | ﹤0.01% |
29,714
-1,808
| -6% | -$94.3K |
|
1136
iShares Currency Hedged MSCI EAFE ETF
HEFA
$7.81B
| $1.39M | ﹤0.01% |
33,557
+539
| +2% | +$22.1K |
|
1137
Ferguson
FERG
$47.4B
| $1.36M | ﹤0.01% |
6,127
+2,552
| +71% | +$610K |
|
1138
Vale
VALE
$61.4B
| $1.36M | ﹤0.01% |
104,412
-27,961
| -21% | -$340K |
|
1139
PUT
Brookfield Asset Management
BAM
$87.1B
| $1.36M | ﹤0.01% |
259
+104
| +67% | +$5.59K |
|
1140
State Street SPDR Bloomberg High Yield Bond ETF
JNK
$7.33B
| $1.35M | ﹤0.01% |
+13,858
| New | +$1.35M |
|
1141
BRC Group Holdings
RILY
$304M
| $1.35M | ﹤0.01% |
+288,405
| New | +$1.43M |
|
1142
Alcoa
AA
$13.1B
| $1.34M | ﹤0.01% |
25,264
-6,248
| -20% | -$256K |
|
1143
Ares Capital
ARCC
$14.5B
| $1.33M | ﹤0.01% |
65,641
+717
| +1% | +$14.5K |
|
|
FISV
1144
Fiserv Inc
FISV
$29.5B
| $1.32M | ﹤0.01% |
19,721
-2,355,522
| -99% | -$197M |
|
1145
PUT
AirSculpt Technologies
AIRS
$244M
| $1.3M | ﹤0.01% |
6,582
-1,158
| -15% | -$7.03K |
|
|
LAC
1146
Lithium Americas
LAC
$1.24B
| $1.3M | ﹤0.01% |
298,803
+150,065
| +101% | +$866K |
|
1147
iShares Core US REIT ETF
USRT
$4.63B
| $1.3M | ﹤0.01% |
22,800
| – | – |
|
1148
LPL Financial
LPLA
$29.7B
| $1.29M | ﹤0.01% |
3,625
+794
| +28% | +$281K |
|
1149
Invesco Russell 1000 Dynamic Multifactor ETF
OMFL
$4.89B
| $1.28M | ﹤0.01% |
20,977
+670
| +3% | +$40.4K |
|
1150
Energizer
ENR
$1.56B
| $1.28M | ﹤0.01% |
+64,298
| New | +$1.4M |
|
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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.