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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 | |
|---|---|---|---|---|---|---|
1301
RPM International
RPM
$14.5B
| $642K | ﹤0.01% |
5,445
+4,627
| +566% | +$555K |
|
1302
Weibo
WB
$1.88B
| $640K | ﹤0.01% |
+51,600
| New | +$565K |
|
1303
Defiance Quantum ETF
QTUM
$5.82B
| $638K | ﹤0.01% |
6,083
+432
| +8% | +$41.4K |
|
1304
CRISPR Therapeutics
CRSP
$5.22B
| $636K | ﹤0.01% |
9,821
-725,779
| -99% | -$41.7M |
|
1305
iShares Global REIT ETF
REET
$5.08B
| $624K | ﹤0.01% |
24,449
+21,233
| +660% | +$533K |
|
1306
Vanguard Morningstar Small-Cap Value ETF
VBR
$38.2B
| $614K | ﹤0.01% |
2,945
+185
| +7% | +$37.8K |
|
1307
Vanguard International High Dividend Yield ETF
VYMI
$21.3B
| $606K | ﹤0.01% |
7,150
+3,780
| +112% | +$313K |
|
1308
CALL
TransAlta
TAC
$3.92B
| $602K | ﹤0.01% |
441
-373
| -46% | -$4.59K |
|
1309
Franklin Dynamic Municipal Bond ETF
FLMI
$2.37B
| $594K | ﹤0.01% |
24,000
| – | – |
|
1310
MP Materials
MP
$9.91B
| $594K | ﹤0.01% |
8,853
-2,004,609
| -100% | -$126M |
|
1311
Coherent
COHR
$64B
| $589K | ﹤0.01% |
5,463
+3,100
| +131% | +$309K |
|
1312
Amplify Junior Silver Miners ETF
SILJ
$3.89B
| $587K | ﹤0.01% |
25,455
-21,091
| -45% | -$369K |
|
1313
Healthcare Services Group
HCSG
$1.43B
| $583K | ﹤0.01% |
34,660
+1,891
| +6% | +$28.1K |
|
1314
Enphase Energy
ENPH
$5.39B
| $581K | ﹤0.01% |
16,431
-90,307
| -85% | -$3.35M |
|
1315
Vanguard Information Technology ETF
VGT
$151B
| $579K | ﹤0.01% |
6,200
+88
| +1% | +$7.69K |
|
1316
iShares GSCI Commodity Dynamic Roll Strategy ETF
COMT
$1.22B
| $576K | ﹤0.01% |
21,447
+335
| +2% | +$8.86K |
|
1317
Vanguard Morningstar Value ETF
VTV
$194B
| $573K | ﹤0.01% |
3,071
-568,742
| -99% | -$103M |
|
1318
Dream Finders Homes
DFH
$1.35B
| $567K | ﹤0.01% |
21,873
-477
| -2% | -$13.1K |
|
1319
PUT
Vermilion Energy
VET
$1.73B
| $562K | ﹤0.01% |
720
-149
| -17% | -$1.15K |
|
1320
iShares US Home Construction ETF
ITB
$2.37B
| $561K | ﹤0.01% |
5,234
-75,245
| -93% | -$7.92M |
|
1321
PUT
ChargePoint
CHPT
$160M
| $559K | ﹤0.01% |
+512
| New | +$5.86K |
|
1322
Invesco Ultra Short Duration ETF
GSY
$3.88B
| $557K | ﹤0.01% |
11,097
+4,700
| +73% | +$236K |
|
1323
Energy Transfer Partners
ET
$71.5B
| $556K | ﹤0.01% |
32,447
-13,628
| -30% | -$239K |
|
1324
CALL
Open Text
OTEX
$5.8B
| $553K | ﹤0.01% |
+148
| New | +$4.75K |
|
1325
PUT
First Majestic Silver
AG
$9.26B
| $553K | ﹤0.01% |
450
+6
| +1% | +$56 |
|
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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.