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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 | |
|---|---|---|---|---|---|---|
101
Blackrock
BLK
$180B
| $193M | 0.19% |
165,791
-12,732
| -7% | -$14.2M |
|
102
Uber
UBER
$154B
| $192M | 0.19% |
1,959,503
-171,298
| -8% | -$16M |
|
103
Teck Resources
TECK
$32.4B
| $188M | 0.19% |
4,292,587
-220,750
| -5% | -$8.02M |
|
|
104
CALL
Tesla
TSLA
$1.29T
| $187M | 0.19% |
4,211
-4,649
| -52% | -$1.61M |
|
105
Intuitive Surgical
ISRG
$142B
| $187M | 0.19% |
417,266
+44,204
| +12% | +$21.2M |
|
106
RTX Corp
RTX
$300B
| $186M | 0.19% |
1,112,516
-271,364
| -20% | -$42.1M |
|
107
Brookfield Infrastructure Partners
BIP
$18.2B
| $185M | 0.18% |
5,640,115
+13,887
| +0.2% | +$437K |
|
108
Analog Devices
ADI
$187B
| $185M | 0.18% |
753,183
-109,946
| -13% | -$26.4M |
|
109
PUT
Super Micro Computer
SMCI
$24.3B
| $182M | 0.18% |
38,011
+34,537
| +994% | +$1.65M |
|
|
EMA
110
Emera Inc
EMA
$15.7B
| $180M | 0.18% |
3,755,432
-240,227
| -6% | -$11.2M |
|
111
Texas Instruments
TXN
$253B
| $179M | 0.18% |
975,869
+44,797
| +5% | +$8.76M |
|
112
BP
BP
$111B
| $179M | 0.18% |
5,193,400
+88,331
| +2% | +$2.96M |
|
113
GE Aerospace
GE
$379B
| $168M | 0.17% |
559,384
-680,919
| -55% | -$186M |
|
114
CALL
VanEck Gold Miners ETF
GDX
$27.8B
| $168M | 0.17% |
+21,982
| New | +$1.32M |
|
|
115
CALL
Super Micro Computer
SMCI
$24.3B
| $168M | 0.17% |
+35,000
| New | +$1.67M |
|
116
Gilead Sciences
GILD
$168B
| $161M | 0.16% |
1,451,694
+164,182
| +13% | +$18.7M |
|
117
Boston Scientific
BSX
$74.5B
| $160M | 0.16% |
1,642,213
+237,912
| +17% | +$24.6M |
|
118
TJX Companies
TJX
$169B
| $159M | 0.16% |
1,100,590
-164,207
| -13% | -$21.8M |
|
119
State Street Financial Select Sector SPDR ETF
XLF
$59.1B
| $158M | 0.16% |
2,939,620
+106,730
| +4% | +$5.66M |
|
120
Arista Networks
ANET
$265B
| $158M | 0.16% |
1,083,773
+195,958
| +22% | +$25.2M |
|
121
Newmont
NEM
$124B
| $156M | 0.16% |
1,854,402
-916,890
| -33% | -$63.9M |
|
122
Progressive
PGR
$121B
| $156M | 0.16% |
631,787
+48,026
| +8% | +$11.8M |
|
123
J.M. Smucker
SJM
$12.7B
| $152M | 0.15% |
1,401,173
+1,244,214
| +793% | +$135M |
|
124
Walt Disney
DIS
$178B
| $152M | 0.15% |
1,325,172
-1,114,698
| -46% | -$131M |
|
125
Adobe
ADBE
$103B
| $148M | 0.15% |
420,089
-97,996
| -19% | -$35.2M |
|
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.