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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 | |
|---|---|---|---|---|---|---|
126
Uber
UBER
$154B
| $166M | 0.15% |
2,029,588
+70,085
| +4% | +$6.31M |
|
|
EMA
127
Emera Inc
EMA
$15.7B
| $165M | 0.15% |
3,350,649
-404,783
| -11% | -$19.6M |
|
128
Pinduoduo
PDD
$127B
| $162M | 0.15% |
1,428,593
+822,903
| +136% | +$102M |
|
129
Verizon
VZ
$195B
| $160M | 0.15% |
3,919,891
+1,033,646
| +36% | +$41.9M |
|
130
TFI International
TFII
$12B
| $159M | 0.14% |
1,543,800
+53,472
| +4% | +$4.98M |
|
131
Abbott
ABT
$192B
| $154M | 0.14% |
1,230,599
+541,001
| +78% | +$68.9M |
|
132
Adobe
ADBE
$103B
| $152M | 0.14% |
435,437
+15,348
| +4% | +$5.22M |
|
133
Strategy Inc
MSTR
$37.3B
| $152M | 0.14% |
1,001,757
-1,043,047
| -51% | -$240M |
|
134
Automatic Data Processing
ADP
$107B
| $149M | 0.14% |
580,504
+178,096
| +44% | +$47.4M |
|
135
lululemon athletica
LULU
$13.7B
| $149M | 0.14% |
715,162
+269,879
| +61% | +$48.9M |
|
136
Wells Fargo
WFC
$269B
| $148M | 0.13% |
1,590,491
+4,771
| +0.3% | +$414K |
|
137
Sea Limited
SE
$78.5B
| $148M | 0.13% |
1,157,200
+569,881
| +97% | +$84.4M |
|
138
Futu Holdings
FUTU
$14.7B
| $146M | 0.13% |
888,120
+90,700
| +11% | +$15.6M |
|
139
Magna International
MGA
$18.6B
| $145M | 0.13% |
2,727,814
+194,523
| +8% | +$9.51M |
|
|
140
CALL
Microsoft
MSFT
$3.66T
| $145M | 0.13% |
3,000
-3,884
| -56% | -$1.95M |
|
141
Brookfield Asset Management
BAM
$87.1B
| $142M | 0.13% |
2,726,585
-845,744
| -24% | -$45.5M |
|
142
Constellation Energy
CEG
$98.7B
| $141M | 0.13% |
400,221
+115,990
| +41% | +$42.2M |
|
143
PUT
Super Micro Computer
SMCI
$24.3B
| $140M | 0.13% |
48,000
+9,989
| +26% | +$411K |
|
144
Morgan Stanley
MS
$342B
| $140M | 0.13% |
791,163
+468,209
| +145% | +$78.1M |
|
145
CALL
Applovin
APP
$102B
| $140M | 0.13% |
2,078
+1,138
| +121% | +$717K |
|
146
Moody's
MCO
$82.8B
| $139M | 0.13% |
271,923
+53,017
| +24% | +$25.9M |
|
147
McKesson
MCK
$102B
| $137M | 0.12% |
166,865
+76,395
| +84% | +$62.3M |
|
148
Stryker
SYK
$133B
| $135M | 0.12% |
383,875
+77,003
| +25% | +$28.1M |
|
149
TJX Companies
TJX
$169B
| $134M | 0.12% |
874,633
-225,957
| -21% | -$33.4M |
|
150
AT&T
T
$166B
| $132M | 0.12% |
5,307,615
+2,121,634
| +67% | +$53.7M |
|
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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.