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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 | |
|---|---|---|---|---|---|---|
151
ASML
ASML
$695B
| $132M | 0.12% |
123,179
+37,942
| +45% | +$39.6M |
|
|
152
CALL
Royal Bank of Canada
RY
$297B
| $131M | 0.12% |
7,706
+842
| +12% | +$129K |
|
153
Blackrock
BLK
$180B
| $125M | 0.11% |
117,199
-48,592
| -29% | -$53.1M |
|
154
Nike
NKE
$60.1B
| $125M | 0.11% |
1,955,421
+735,690
| +60% | +$48M |
|
155
PayPal
PYPL
$50.6B
| $124M | 0.11% |
2,119,687
+908,316
| +75% | +$59M |
|
156
Boeing
BA
$183B
| $124M | 0.11% |
569,162
-43,741
| -7% | -$9M |
|
157
ServiceNow
NOW
$129B
| $123M | 0.11% |
804,984
+388,264
| +93% | +$66.6M |
|
158
Pfizer
PFE
$150B
| $122M | 0.11% |
4,901,767
+97,450
| +2% | +$2.46M |
|
159
Boston Scientific
BSX
$74.5B
| $122M | 0.11% |
1,276,235
-365,978
| -22% | -$35.9M |
|
160
Waste Management
WM
$90.5B
| $121M | 0.11% |
549,381
+30,522
| +6% | +$6.51M |
|
|
SCHW
161
Charles Schwab
SCHW
$189B
| $119M | 0.11% |
1,194,457
+551,578
| +86% | +$52.3M |
|
162
Thermo Fisher Scientific
TMO
$223B
| $119M | 0.11% |
205,043
-43,760
| -18% | -$24.7M |
|
163
Dollar Tree
DLTR
$24.7B
| $119M | 0.11% |
964,366
+105,856
| +12% | +$11.3M |
|
164
Danaher
DHR
$145B
| $118M | 0.11% |
515,433
-32,892
| -6% | -$7.23M |
|
165
Amphenol
APH
$210B
| $116M | 0.11% |
861,793
-160,780
| -16% | -$21.5M |
|
166
CALL
Berkshire Hathaway Class B
BRK.B
$1.09T
| $116M | 0.11% |
2,300
+1,800
| +360% | +$896K |
|
167
Lockheed Martin
LMT
$140B
| $114M | 0.1% |
236,664
+34,268
| +17% | +$16.4M |
|
168
Monolithic Power Systems
MPWR
$70B
| $114M | 0.1% |
125,474
+101,300
| +419% | +$97.5M |
|
169
CAE Inc. Common Shares
CAE
$8.9B
| $113M | 0.1% |
3,706,305
-428,686
| -10% | -$12M |
|
170
Mercado Libre
MELI
$92.7B
| $112M | 0.1% |
55,725
+31,134
| +127% | +$65.4M |
|
171
CALL
Super Micro Computer
SMCI
$24.3B
| $111M | 0.1% |
38,000
+3,000
| +9% | +$124K |
|
172
American Tower
AMT
$79.4B
| $111M | 0.1% |
629,632
+328,651
| +109% | +$59.8M |
|
173
PUT
lululemon athletica
LULU
$13.7B
| $110M | 0.1% |
+5,277
| New | +$956K |
|
174
CALL
Bank of Montreal
BMO
$129B
| $109M | 0.1% |
8,427
-892
| -10% | -$113K |
|
|
NVO
175
Novo Nordisk
NVO
$203B
| $109M | 0.1% |
2,149,041
+1,199,556
| +126% | +$61.3M |
|
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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.