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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 | |
|---|---|---|---|---|---|---|
101
PUT
Broadcom
AVGO
$1.98T
| $202M | 0.18% |
5,829
+4,446
| +321% | +$1.59M |
|
102
GE Vernova
GEV
$277B
| $199M | 0.18% |
304,376
+79,677
| +35% | +$48.5M |
|
103
Coca-Cola
KO
$373B
| $197M | 0.18% |
2,824,039
-845,784
| -23% | -$59M |
|
104
T-Mobile US
TMUS
$190B
| $197M | 0.18% |
971,728
-2,876
| -0.3% | -$610K |
|
105
RTX Corp
RTX
$300B
| $197M | 0.18% |
1,071,660
-40,856
| -4% | -$7.1M |
|
106
Goldman Sachs
GS
$302B
| $196M | 0.18% |
223,378
-66,018
| -23% | -$53.9M |
|
107
Pembina Pipeline
PBA
$28.4B
| $196M | 0.18% |
5,157,259
+1,886,120
| +58% | +$72.5M |
|
108
CRH
CRH
$65.2B
| $193M | 0.18% |
1,547,748
+1,109,320
| +253% | +$132M |
|
109
Vanguard FTSE Developed Markets ETF
VEA
$238B
| $193M | 0.18% |
3,081,773
+2,220,295
| +258% | +$136M |
|
110
Comcast
CMCSA
$90.4B
| $189M | 0.17% |
6,321,642
-1,192,039
| -16% | -$34M |
|
111
Texas Instruments
TXN
$253B
| $189M | 0.17% |
1,089,096
+113,227
| +12% | +$19.4M |
|
112
BP
BP
$111B
| $185M | 0.17% |
5,328,988
+135,588
| +3% | +$4.76M |
|
113
KLA
KLAC
$272B
| $185M | 0.17% |
1,519,670
+417,050
| +38% | +$48.9M |
|
114
Brookfield Infrastructure Partners
BIP
$18.2B
| $184M | 0.17% |
5,307,915
-332,200
| -6% | -$11.6M |
|
115
Warner Bros
WBD
$69.3B
| $184M | 0.17% |
6,371,037
+4,734,078
| +289% | +$111M |
|
116
Avis
CAR
$4.93B
| $183M | 0.17% |
1,424,514
+134,514
| +10% | +$18.8M |
|
117
Teck Resources
TECK
$32.4B
| $181M | 0.16% |
3,792,169
-500,418
| -12% | -$21.7M |
|
118
Palo Alto Networks
PANW
$315B
| $179M | 0.16% |
974,404
+300,031
| +44% | +$60.5M |
|
119
Trane Technologies
TT
$105B
| $178M | 0.16% |
456,968
+158,368
| +53% | +$65.5M |
|
120
PUT
Intel
INTC
$509B
| $177M | 0.16% |
48,070
-23,384
| -33% | -$883K |
|
121
CrowdStrike
CRWD
$226B
| $171M | 0.16% |
1,461,564
+614,264
| +72% | +$78.2M |
|
|
B
122
Barrick Mining
B
$67.9B
| $170M | 0.15% |
3,928,249
-384,221
| -9% | -$14.4M |
|
123
Analog Devices
ADI
$187B
| $168M | 0.15% |
618,059
-135,124
| -18% | -$33.9M |
|
124
UBS Group
UBS
$177B
| $167M | 0.15% |
3,581,801
+3,548,610
| +10,691% | +$143M |
|
125
Bristol-Myers Squibb
BMY
$130B
| $166M | 0.15% |
3,083,674
+1,188,317
| +63% | +$57.2M |
|
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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.