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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 | |
|---|---|---|---|---|---|---|
1251
Invesco CurrencyShares Japanese Yen Trust
FXY
$426M
| $803K | ﹤0.01% |
12,900
+12,864
| +35,733% | +$803K |
|
1252
Illumina
ILMN
$29.1B
| $801K | ﹤0.01% |
8,440
+7
| +0.1% | +$694 |
|
1253
Schwab US Dividend Equity ETF
SCHD
$108B
| $794K | ﹤0.01% |
29,106
-20,656
| -42% | -$564K |
|
1254
Cheniere Energy
LNG
$55B
| $792K | ﹤0.01% |
3,373
+235
| +7% | +$55.2K |
|
1255
abrdn Physical Palladium Shares ETF
PALL
$648M
| $777K | ﹤0.01% |
34,075
+425
| +1% | +$9.1K |
|
1256
InterDigital
IDCC
$8.88B
| $776K | ﹤0.01% |
2,249
+13
| +0.6% | +$3.53K |
|
1257
Avantis Emerging Markets Equity ETF
AVEM
$27B
| $774K | ﹤0.01% |
+10,300
| New | +$736K |
|
1258
Eagle Materials
EXP
$6.47B
| $773K | ﹤0.01% |
3,316
+439
| +15% | +$99.5K |
|
1259
CALL
Methanex
MEOH
$4.17B
| $763K | ﹤0.01% |
192
+95
| +98% | +$3.38K |
|
1260
CALL
Baytex Energy
BTE
$3.05B
| $761K | ﹤0.01% |
3,248
+2,968
| +1,060% | +$6.36K |
|
1261
Comfort Systems
FIX
$60.8B
| $758K | ﹤0.01% |
919
-270
| -23% | -$183K |
|
1262
Dimensional US Core Equity 2 ETF
DFAC
$49.9B
| $757K | ﹤0.01% |
19,549
+3,921
| +25% | +$146K |
|
1263
Primerica
PRI
$9.62B
| $755K | ﹤0.01% |
2,719
+2,679
| +6,698% | +$719K |
|
1264
PUT
Karyopharm Therapeutics
KPTI
$45.1M
| $754K | ﹤0.01% |
+1,153
| New | +$6.2K |
|
|
YALA
1265
Yalla Group
YALA
$821M
| $751K | ﹤0.01% |
+100,000
| New | +$771K |
|
|
EU
1266
enCore Energy
EU
$221M
| $750K | ﹤0.01% |
239,908
+21,369
| +10% | +$57.5K |
|
1267
CALL
Hertz
HTZ
$838M
| $747K | ﹤0.01% |
1,099
-2,785
| -72% | -$17.9K |
|
1268
iShares MSCI Spain ETF
EWP
$2.21B
| $743K | ﹤0.01% |
15,011
-64
| -0.4% | -$3K |
|
1269
Hawkins
HWKN
$2.67B
| $734K | ﹤0.01% |
+4,017
| New | +$671K |
|
1270
First Bancorp
FBP
$4.49B
| $728K | ﹤0.01% |
33,016
-70
| -0.2% | -$1.51K |
|
1271
iShares Core MSCI Europe ETF
IEUR
$9.15B
| $720K | ﹤0.01% |
10,464
+1,087
| +12% | +$72.5K |
|
1272
Invesco BuyBack Achievers ETF
PKW
$1.8B
| $720K | ﹤0.01% |
5,435
+400
| +8% | +$51.4K |
|
1273
iShares Core 1-5 Year USD Bond ETF
ISTB
$5.14B
| $716K | ﹤0.01% |
14,674
+575
| +4% | +$28K |
|
|
FBCV
1274
Fidelity Blue Chip Value ETF
FBCV
$184M
| $715K | ﹤0.01% |
20,966
-6,700
| -24% | -$224K |
|
1275
iShares MSCI Switzerland ETF
EWL
$2.22B
| $712K | ﹤0.01% |
12,878
-547
| -4% | -$30K |
|
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.