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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
+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
Cap. Flow
-$14B
Cap. Flow %
-13.98%
Top 10 Hldgs %
28.48%
Holding
3,287
New
313
Increased
899
Reduced
1,215
Closed
454

Top Buys

Rank Stock Value
1
MSTR icon
Strategy Inc
MSTR
+$548M
2
FISV
Fiserv Inc
FISV
+$286M
3
AMGN icon
Amgen
AMGN
+$251M
4
PLTR icon
Palantir
PLTR
+$229M
5
RY icon
Royal Bank of Canada
RY
+$200M

Top Sells

Rank Stock Value
1
NVDA icon
NVIDIA
NVDA
+$1.11B
2
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$1.09B
3
IEFA icon
iShares Core MSCI EAFE ETF
IEFA
+$702M
4
TSLA icon
Tesla
TSLA
+$636M
5
MSFT icon
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
SANG
1351
Sangoma Technologies
SANG
$137M
$493K ﹤0.01%
100,687
+4,499
+5% +$25.6K
GTLS
1352
DELISTED
Chart Industries
GTLS
$490K ﹤0.01%
2,449
-10
-0.4% -$1.9K
IOO icon
1353
iShares Global 100 ETF
IOO
$9.46B
$488K ﹤0.01%
4,068
+855
+27% +$97.3K
JBBB icon
1354
Janus Henderson B-BBB CLO ETF
JBBB
$1.43B
$488K ﹤0.01%
10,134
– –
OM icon
1355
Outset Medical
OM
$79.9M
$486K ﹤0.01%
34,662
+115
+0.3% +$1.79K
FLUT icon
1356
Flutter Entertainment
FLUT
$17.1B
$481K ﹤0.01%
1,910
+28
+1% +$8.2K
FLRN icon
1357
State Street SPDR Bloomberg Investment Grade Floating Rate ETF
FLRN
$2.97B
$471K ﹤0.01%
15,285
+13,096
+598% +$403K
SHAK icon
1358
Shake Shack
SHAK
$2.94B
$463K ﹤0.01%
4,949
+321
+7% +$36.9K
PIE icon
1359
Invesco Dorsey Wright Emerging Markets Momentum ETF
PIE
$250M
$457K ﹤0.01%
18,845
-245
-1% -$5.54K
KRP icon
1360
Kimbell Royalty Partners
KRP
$1.53B
$456K ﹤0.01%
33,828
+1,960
+6% +$27.6K
RGTI icon
1361
CALL
Rigetti Computing
RGTI
$6.21B
$456K ﹤0.01%
153
-3,349
-96% -$58.7K
DHS icon
1362
WisdomTree US High Dividend Fund
DHS
$1.6B
$453K ﹤0.01%
4,501
– –
AIRR icon
1363
First Trust RBA American Industrial Renaissance ETF
AIRR
$10.7B
$451K ﹤0.01%
4,665
-2,205
-32% -$197K
RSPE icon
1364
Invesco ESG S&P 500 Equal Weight ETF
RSPE
$70.5M
$450K ﹤0.01%
15,648
-57
-0.4% -$1.61K
SCHF icon
1365
Schwab International Equity ETF
SCHF
$69.3B
$449K ﹤0.01%
19,267
+429
+2% +$9.69K
NVAX icon
1366
Novavax
NVAX
$1.34B
$446K ﹤0.01%
51,389
-25,835
-33% -$201K
NXPI icon
1367
NXP Semiconductors
NXPI
$58.5B
$446K ﹤0.01%
1,947
-17,628
-90% -$3.96M
NVAX icon
1368
PUT
Novavax
NVAX
$1.34B
$443K ﹤0.01%
511
-252
-33% -$1.96K
AGI icon
1369
PUT
Alamos Gold
AGI
$13.8B
$443K ﹤0.01%
127
+114
+877% +$3.26K
PRF icon
1370
Invesco FTSE RAFI US 1000 ETF
PRF
$10.1B
$442K ﹤0.01%
9,785
+550
+6% +$24K
UEC icon
1371
Uranium Energy
UEC
$5.54B
$442K ﹤0.01%
33,150
-13,886
-30% -$139K
CHY
1372
Calamos Convertible and High Income Fund
CHY
$1.09B
$442K ﹤0.01%
39,550
-700
-2% -$7.71K
RSPT icon
1373
Invesco S&P 500 Equal Weight Technology ETF
RSPT
$6.05B
$438K ﹤0.01%
9,840
+1,310
+15% +$55K
ALNY icon
1374
Alnylam Pharmaceuticals
ALNY
$30.4B
$436K ﹤0.01%
957
+54
+6% +$22K
EVLV icon
1375
Evolv Technologies
EVLV
$1.04B
$434K ﹤0.01%
57,641
+8,213
+17% +$60K
53 54
55
56 57

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Canada Pension Plan Investment Board
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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.