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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 | |
|---|---|---|---|---|---|---|
1476
Dimensional Core Fixed Income ETF
DFCF
$10.9B
| $269K | ﹤0.01% |
6,265
+4,387
| +234% | +$186K |
|
1477
SS&C Technologies
SSNC
$19.1B
| $269K | ﹤0.01% |
3,030
+329
| +12% | +$28.5K |
|
1478
Dimensional International Core Equity 2 ETF
DFIC
$15.3B
| $265K | ﹤0.01% |
8,052
+1,521
| +23% | +$48.5K |
|
1479
ImmunityBio
IBRX
$7.94B
| $264K | ﹤0.01% |
107,400
+98,400
| +1,093% | +$253K |
|
|
1480
PUT
ImmunityBio
IBRX
$7.94B
| $264K | ﹤0.01% |
1,074
-1,816
| -63% | -$4.68K |
|
1481
Aecom
ACM
$8.12B
| $263K | ﹤0.01% |
2,015
-59,606
| -97% | -$7.2M |
|
1482
PureCycle Technologies
PCT
$1.38B
| $263K | ﹤0.01% |
19,980
+2,254
| +13% | +$31.3K |
|
1483
PUT
Algonquin Power & Utilities
AQN
$4.51B
| $262K | ﹤0.01% |
488
+91
| +23% | +$523 |
|
1484
Affirm
AFRM
$26.4B
| $262K | ﹤0.01% |
3,581
+1
| +0% | +$76 |
|
|
WW
1485
WW International
WW
$145M
| $261K | ﹤0.01% |
+9,580
| New | +$329K |
|
1486
Global X MSCI China Consumer Discretionary ETF
CHIQ
$120M
| $260K | ﹤0.01% |
10,825
| – | – |
|
1487
Vanguard Consumer Staples ETF
VDC
$8.04B
| $257K | ﹤0.01% |
1,205
-24
| -2% | -$5.26K |
|
1488
iShares National Muni Bond ETF
MUB
$45.9B
| $255K | ﹤0.01% |
2,394
+2,126
| +793% | +$222K |
|
1489
iShares S&P Mid-Cap 400 Value ETF
IJJ
$9.09B
| $253K | ﹤0.01% |
1,954
| – | – |
|
1490
iShares iBonds Dec 2026 Term Treasury ETF
IBTG
$2.22B
| $253K | ﹤0.01% |
11,047
+3,288
| +42% | +$75.3K |
|
1491
QuantumScape Corp
QS
$3.82B
| $253K | ﹤0.01% |
20,597
+7,677
| +59% | +$74.9K |
|
1492
Exelixis
EXEL
$12.6B
| $253K | ﹤0.01% |
6,120
-2,237
| -27% | -$89.9K |
|
1493
Philips
PHG
$26.8B
| $252K | ﹤0.01% |
9,609
+5,195
| +118% | +$133K |
|
|
DOCU
1494
DocuSign
DOCU
$11.7B
| $251K | ﹤0.01% |
3,489
-547
| -14% | -$42.2K |
|
|
QXO
1495
QXO Inc
QXO
$15.7B
| $250K | ﹤0.01% |
+13,119
| New | +$272K |
|
1496
Biomea Fusion
BMEA
$94.2M
| $250K | ﹤0.01% |
123,600
-23,500
| -16% | -$43K |
|
|
1497
PUT
Biomea Fusion
BMEA
$94.2M
| $250K | ﹤0.01% |
1,236
-235
| -16% | -$430 |
|
1498
FIGS
FIGS
$2.44B
| $249K | ﹤0.01% |
37,169
-796
| -2% | -$5.25K |
|
|
TGB
1499
Trekor Metals
TGB
$3.1B
| $247K | ﹤0.01% |
58,640
+6,399
| +12% | +$21.8K |
|
1500
WisdomTree International Quality Dividend Growth Fund
IQDG
$732M
| $246K | ﹤0.01% |
+6,170
| New | +$242K |
|
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.