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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 | |
|---|---|---|---|---|---|---|
1351
MakeMyTrip
MMYT
$5.71B
| $520K | ﹤0.01% |
6,333
+564
| +10% | +$46.3K |
|
1352
abrdn Bloomberg All Commodity Strategy K-1 Free ETF
BCI
$3.07B
| $511K | ﹤0.01% |
+26,198
| New | +$583K |
|
1353
Xtrackers Harvest CSI 300 China A-Shares ETF
ASHR
$1.58B
| $510K | ﹤0.01% |
15,524
+4,764
| +44% | +$156K |
|
1354
Sibanye-Stillwater
SBSW
$7.42B
| $508K | ﹤0.01% |
35,640
+28,216
| +380% | +$341K |
|
1355
Artisan Partners
APAM
$2.97B
| $503K | ﹤0.01% |
12,356
+4,320
| +54% | +$184K |
|
1356
iShares US Home Construction ETF
ITB
$2.37B
| $498K | ﹤0.01% |
5,167
-67
| -1% | -$6.76K |
|
|
SANG
1357
Sangoma Technologies
SANG
$137M
| $496K | ﹤0.01% |
100,197
-490
| -0.5% | -$2.49K |
|
|
CNL
1358
Collective Mining Ltd. Common Shares
CNL
$1.35B
| $496K | ﹤0.01% |
34,369
+31,113
| +956% | +$378K |
|
1359
iShares US Healthcare Providers ETF
IHF
$1.26B
| $496K | ﹤0.01% |
10,347
+10,097
| +4,039% | +$495K |
|
1360
Millicom
TIGO
$15.8B
| $496K | ﹤0.01% |
+8,942
| New | +$450K |
|
|
SNDK
1361
Sandisk
SNDK
$223B
| $494K | ﹤0.01% |
2,082
+1,904
| +1,070% | +$381K |
|
1362
Dimensional Core Fixed Income ETF
DFCF
$10.9B
| $489K | ﹤0.01% |
11,484
+5,219
| +83% | +$224K |
|
1363
HEICO Corp
HEI
$52.1B
| $489K | ﹤0.01% |
1,511
+1,190
| +371% | +$376K |
|
1364
Vanguard Morningstar Mega Cap Growth ETF
MGK
$34B
| $484K | ﹤0.01% |
5,860
+3,120
| +114% | +$256K |
|
1365
State Street SPDR S&P Bank ETF
KBE
$1.75B
| $484K | ﹤0.01% |
7,972
-360
| -4% | -$21.2K |
|
1366
Ambev
ABEV
$43.8B
| $483K | ﹤0.01% |
196,185
+34,276
| +21% | +$81.6K |
|
1367
Janus Henderson B-BBB CLO ETF
JBBB
$1.43B
| $481K | ﹤0.01% |
10,081
-53
| -0.5% | -$2.54K |
|
1368
Invesco ESG S&P 500 Equal Weight ETF
RSPE
$70.5M
| $469K | ﹤0.01% |
15,795
+147
| +0.9% | +$4.29K |
|
1369
VanEck Vietnam ETF
VNM
$506M
| $465K | ﹤0.01% |
24,380
+1,715
| +8% | +$31.1K |
|
1370
iShares MSCI Emerging Markets ETF
EEM
$30.5B
| $462K | ﹤0.01% |
8,438
-1,970,654
| -100% | -$107M |
|
1371
Shake Shack
SHAK
$2.94B
| $461K | ﹤0.01% |
5,680
+731
| +15% | +$64.4K |
|
1372
CALL
Lightspeed Commerce
LSPD
$1.42B
| $460K | ﹤0.01% |
381
+124
| +48% | +$1.47K |
|
1373
SEALSQ Corp
LAES
$633M
| $459K | ﹤0.01% |
121,421
-850,304
| -88% | -$4.34M |
|
1374
WisdomTree US High Dividend Fund
DHS
$1.6B
| $458K | ﹤0.01% |
4,501
| – | – |
|
1375
Pinterest
PINS
$13.2B
| $457K | ﹤0.01% |
17,675
+2,293
| +15% | +$66K |
|
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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.