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National Bank of Canada

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
Cap. Flow
-$14B
Cap. Flow %
-13.98%
Top 10 Hldgs %
28.48%
Holding
3,287
New
313
Increased
899
Reduced
1,215
Closed
454

Top Buys

Rank Stock Value
1
MSTR icon
Strategy Inc
MSTR
+$548M
2
FISV
Fiserv Inc
FISV
+$286M
3
AMGN icon
Amgen
AMGN
+$251M
4
PLTR icon
Palantir
PLTR
+$229M
5
RY icon
Royal Bank of Canada
RY
+$200M

Top Sells

Rank Stock Value
1
NVDA icon
NVIDIA
NVDA
+$1.11B
2
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$1.09B
3
IEFA icon
iShares Core MSCI EAFE ETF
IEFA
+$702M
4
TSLA icon
Tesla
TSLA
+$636M
5
MSFT icon
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
BYND icon
1201
CALL
Beyond Meat
BYND
$214M
$1.02M ﹤0.01%
180
-20
-10% -$1.77K
RGTI icon
1202
Rigetti Computing
RGTI
$6.21B
$1.02M ﹤0.01%
34,289
-253,425
-88% -$4.44M
CP icon
1203
PUT
Canadian Pacific Kansas City
CP
$81.5B
$1.02M ﹤0.01%
137
+76
+125% +$5.81K
BIV icon
1204
Vanguard Intermediate-Term Bond ETF
BIV
$28.9B
$1.02M ﹤0.01%
13,038
+3,284
+34% +$254K
MOMO
1205
Hello Group
MOMO
$867M
$1M ﹤0.01%
+135,000
New +$1.1M
CGC
1206
PUT
Canopy Growth
CGC
$426M
$989K ﹤0.01%
6,775
-1,482
-18% -$1.93K
FMS icon
1207
Fresenius Medical Care
FMS
$12.6B
$989K ﹤0.01%
37,579
+2,625
+8% +$67.5K
TAC icon
1208
PUT
TransAlta
TAC
$3.92B
$967K ﹤0.01%
708
+323
+84% +$3.97K
IRDM icon
1209
Iridium Communications
IRDM
$5.26B
$964K ﹤0.01%
55,235
+12,368
+29% +$306K
AOM icon
1210
iShares Core Moderate Allocation ETF
AOM
$1.78B
$963K ﹤0.01%
20,258
+375
+2% +$17.4K
VOT icon
1211
Vanguard Morningstar Mid-Cap Growth ETF
VOT
$20.3B
$959K ﹤0.01%
3,267
+408
+14% +$118K
EWW icon
1212
iShares MSCI Mexico ETF
EWW
$1.87B
$958K ﹤0.01%
14,067
+6
+0% +$375
SNX icon
1213
TD Synnex
SNX
$20.4B
$957K ﹤0.01%
5,850
-3,140
-35% -$463K
EQNR icon
1214
Equinor
EQNR
$96.3B
$952K ﹤0.01%
39,045
+437
+1% +$11K
SON icon
1215
Sonoco
SON
$5.74B
$950K ﹤0.01%
22,063
-2,946
-12% -$136K
BOTZ icon
1216
Global X Robotics & Artificial Intelligence ETF
BOTZ
$3.59B
$950K ﹤0.01%
26,821
-1,316
-5% -$44.4K
LPLA icon
1217
LPL Financial
LPLA
$29.7B
$941K ﹤0.01%
2,831
-16,025
-85% -$5.81M
RGTI icon
1218
PUT
Rigetti Computing
RGTI
$6.21B
$938K ﹤0.01%
315
-5,915
-95% -$104K
HYS icon
1219
PIMCO 0-5 Year High Yield Corporate Bond Index Exchange-Traded Fund
HYS
$1.78B
$938K ﹤0.01%
9,806
-8,650
-47% -$822K
CQQQ icon
1220
Invesco China Technology ETF
CQQQ
$3.19B
$932K ﹤0.01%
15,784
-67
-0.4% -$3.35K
UMAC icon
1221
Unusual Machines
UMAC
$1.36B
$923K ﹤0.01%
+61,100
New +$644K
UMAC icon
1222
PUT
Unusual Machines
UMAC
$1.36B
$923K ﹤0.01%
+611
New +$6.44K
IGEB icon
1223
iShares Investment Grade Systematic Bond ETF
IGEB
$1.51B
$912K ﹤0.01%
19,806
+259
+1% +$11.8K
AEF
1224
abrdn Emerging Markets Equity Income Fund
AEF
$380M
$911K ﹤0.01%
140,524
+30,543
+28% +$188K
VUG icon
1225
Vanguard Morningstar Growth ETF
VUG
$231B
$902K ﹤0.01%
11,280
+606
+6% +$46.3K
47 48
49
50 51

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VanEck Associates
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Primecap Management
Primecap Management Pasadena, California $127B AUM 44.11% 1-Year Est. Return
Canada Pension Plan Investment Board
Canada Pension Plan Investment Board Toronto Ontario, Ontario, Canada $155B AUM 29.93% 1-Year Est. Return
Two Sigma Investments
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California Public Employees Retirement System
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Manulife (Manufacturers Life Insurance)
Manulife (Manufacturers Life Insurance) Canada, Ontario, Canada $116B AUM 26.37% 1-Year Est. Return
D.E. Shaw & Co
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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.