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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
+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
Cap. Flow
+$3.43B
Cap. Flow %
3.12%
Top 10 Hldgs %
29.27%
Holding
3,206
New
380
Increased
1,219
Reduced
855
Closed
337

Top Buys

Rank Stock Value
1
META icon
Meta Platforms (Facebook)
META
+$990M
2
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$877M
3
TSLA icon
Tesla
TSLA
+$841M
4
MSFT icon
Microsoft
MSFT
+$835M
5
GOOG icon
Alphabet (Google) Class C
GOOG
+$601M

Top Sells

Rank Stock Value
1
AAPL icon
Apple
AAPL
+$799M
2
TD icon
Toronto Dominion Bank
TD
+$363M
3
BN icon
Brookfield
BN
+$315M
4
CRM icon
Salesforce
CRM
+$305M
5
RY icon
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
BOTZ icon
1201
Global X Robotics & Artificial Intelligence ETF
BOTZ
$3.59B
$976K ﹤0.01%
26,950
+129
+0.5% +$4.68K
IXJ icon
1202
iShares Global Healthcare ETF
IXJ
$4.23B
$946K ﹤0.01%
9,721
+7,013
+259% +$664K
DFAC icon
1203
Dimensional US Core Equity 2 ETF
DFAC
$49.9B
$943K ﹤0.01%
23,816
+4,267
+22% +$167K
NIKL icon
1204
Sprott Nickel Miners ETF
NIKL
$55.9M
$941K ﹤0.01%
+60,000
New +$871K
KOID
1205
KraneShares Global Humanoid Robotics and Physical AI Index ETF
KOID
$315M
$938K ﹤0.01%
29,559
+2,650
+10% +$81.7K
DEM icon
1206
WisdomTree Emerging Markets High Dividend Fund
DEM
$3.98B
$935K ﹤0.01%
20,058
+10,669
+114% +$494K
MTUM icon
1207
iShares MSCI USA Momentum Factor ETF
MTUM
$26.1B
$932K ﹤0.01%
3,722
+2,043
+122% +$513K
WPM icon
1208
PUT
Wheaton Precious Metals
WPM
$61.3B
$929K ﹤0.01%
79
-56
-41% -$6K
RILY icon
1209
PUT
BRC Group Holdings
RILY
$304M
$927K ﹤0.01%
+1,986
New +$9.83K
XLB icon
1210
State Street Materials Select Sector SPDR ETF
XLB
$8.57B
$918K ﹤0.01%
20,243
+1,203
+6% +$53.2K
JPST icon
1211
JPMorgan Ultra-Short Income ETF
JPST
$40.6B
$917K ﹤0.01%
18,120
-2,835
-14% -$144K
EWP icon
1212
iShares MSCI Spain ETF
EWP
$2.21B
$915K ﹤0.01%
16,985
+1,974
+13% +$101K
HUT
1213
Hut 8
HUT
$10.2B
$910K ﹤0.01%
+14,114
New +$622K
VOT icon
1214
Vanguard Morningstar Mid-Cap Growth ETF
VOT
$20.3B
$908K ﹤0.01%
3,252
-15
-0.5% -$4.29K
AREC icon
1215
American Resources Corp
AREC
$302M
$895K ﹤0.01%
+361,050
New +$1.2M
AREC icon
1216
PUT
American Resources Corp
AREC
$302M
$894K ﹤0.01%
+3,606
New +$12K
FXO icon
1217
First Trust Financials AlphaDEX Fund
FXO
$1.15B
$891K ﹤0.01%
14,759
-61
-0.4% -$3.59K
VLUE icon
1218
iShares MSCI USA Value Factor ETF
VLUE
$9.72B
$889K ﹤0.01%
6,500
-19,500
-75% -$2.56M
EFG icon
1219
iShares MSCI EAFE Growth ETF
EFG
$17.4B
$887K ﹤0.01%
7,784
+6,798
+689% +$779K
IAUX
1220
i-80 Gold Corp
IAUX
$1.52B
$884K ﹤0.01%
606,176
-142,202
-19% -$162K
NXPI icon
1221
NXP Semiconductors
NXPI
$58.5B
$880K ﹤0.01%
4,054
+2,107
+108% +$452K
COHR icon
1222
Coherent
COHR
$64B
$870K ﹤0.01%
4,720
-743
-14% -$111K
AQN icon
1223
CALL
Algonquin Power & Utilities
AQN
$4.44B
$853K ﹤0.01%
1,387
+110
+9% +$653
VEEV icon
1224
Veeva Systems
VEEV
$41B
$851K ﹤0.01%
3,814
+2,677
+235% +$710K
PHO icon
1225
Invesco Water Resources ETF
PHO
$2.06B
$851K ﹤0.01%
12,091
-331
-3% -$23.9K
47 48
49
50 51

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Canada Pension Plan Investment Board
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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.