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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 | |
|---|---|---|---|---|---|---|
1151
Vale
VALE
$61.4B
| $1.44M | ﹤0.01% |
132,373
-7,786
| -6% | -$79.5K |
|
1152
BlackBerry
BB
$5.27B
| $1.42M | ﹤0.01% |
291,302
-38,349
| -12% | -$152K |
|
1153
Franklin FTSE Canada ETF
FLCA
$863M
| $1.41M | ﹤0.01% |
30,966
-3,403
| -10% | -$147K |
|
1154
PUT
Hudbay
HBM
$11.8B
| $1.4M | ﹤0.01% |
923
-148
| -14% | -$1.7K |
|
1155
UBS Group
UBS
$176B
| $1.39M | ﹤0.01% |
33,191
-37,678
| -53% | -$1.46M |
|
1156
ARK Innovation ETF
ARKK
$6.54B
| $1.36M | ﹤0.01% |
16,476
+3,731
| +29% | +$285K |
|
1157
SoFi Technologies
SOFI
$23.8B
| $1.36M | ﹤0.01% |
51,534
+24,614
| +91% | +$584K |
|
1158
CALL
Ovintiv
OVV
$17.5B
| $1.34M | ﹤0.01% |
463
+102
| +28% | +$4.16K |
|
1159
iShares Core US REIT ETF
USRT
$4.63B
| $1.34M | ﹤0.01% |
22,800
| – | – |
|
1160
Ares Capital
ARCC
$14.5B
| $1.32M | ﹤0.01% |
64,924
-13,345
| -17% | -$297K |
|
1161
CALL
Vermilion Energy
VET
$1.73B
| $1.32M | ﹤0.01% |
1,694
+840
| +98% | +$6.49K |
|
|
DSL
1162
DoubleLine Income Solutions Fund
DSL
$1.23B
| $1.32M | ﹤0.01% |
107,786
+129
| +0.1% | +$1.58K |
|
1163
Duolingo
DUOL
$6.74B
| $1.32M | ﹤0.01% |
4,099
-6,513
| -61% | -$2.18M |
|
1164
Core Scientific
CORZ
$6.36B
| $1.32M | ﹤0.01% |
+73,500
| New | +$1.08M |
|
|
1165
PUT
Core Scientific
CORZ
$6.36B
| $1.32M | ﹤0.01% |
+735
| New | +$10.8K |
|
1166
iShares Currency Hedged MSCI EAFE ETF
HEFA
$7.81B
| $1.31M | ﹤0.01% |
33,018
+2,097
| +7% | +$80.8K |
|
1167
WisdomTree Floating Rate Treasury Fund
USFR
$18.4B
| $1.31M | ﹤0.01% |
25,979
-1,069
| -4% | -$53.8K |
|
1168
TripAdvisor
TRIP
$1.26B
| $1.28M | ﹤0.01% |
78,727
-1,586
| -2% | -$27.7K |
|
1169
Vanguard Short-Term Inflation-Protected Securities Index Fund
VTIP
$19.8B
| $1.26M | ﹤0.01% |
24,974
-6,570
| -21% | -$331K |
|
1170
State Street SPDR S&P Regional Banking ETF
KRE
$4.67B
| $1.25M | ﹤0.01% |
19,780
-133,707
| -87% | -$8.43M |
|
1171
Virtu Financial
VIRT
$5.04B
| $1.25M | ﹤0.01% |
35,140
-23,973
| -41% | -$985K |
|
1172
Lazard
LAZ
$4.24B
| $1.23M | ﹤0.01% |
23,351
+11,695
| +100% | +$631K |
|
1173
Invesco Russell 1000 Dynamic Multifactor ETF
OMFL
$4.89B
| $1.22M | ﹤0.01% |
20,307
+4,272
| +27% | +$251K |
|
1174
PUT
Pan American Silver
PAAS
$19.9B
| $1.21M | ﹤0.01% |
312
-612
| -66% | -$19.7K |
|
1175
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$815B
| $1.2M | ﹤0.01% |
18
-64
| -78% | -$41K |
|
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.