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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
+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
Cap. Flow
+$3.43B
Cap. Flow %
3.12%
Top 10 Hldgs %
29.27%
Holding
3,206
New
380
Increased
1,219
Reduced
855
Closed
337

Top Buys

Rank Stock Value
1
META icon
Meta Platforms (Facebook)
META
+$990M
2
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$877M
3
TSLA icon
Tesla
TSLA
+$841M
4
MSFT icon
Microsoft
MSFT
+$835M
5
GOOG icon
Alphabet (Google) Class C
GOOG
+$601M

Top Sells

Rank Stock Value
1
AAPL icon
Apple
AAPL
+$799M
2
TD icon
Toronto Dominion Bank
TD
+$363M
3
BN icon
Brookfield
BN
+$315M
4
CRM icon
Salesforce
CRM
+$305M
5
RY icon
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
DKL icon
1726
Delek Logistics
DKL
$2.85B
$123K ﹤0.01%
2,754
-550
-17% -$24.7K
FXF icon
1727
Invesco CurrencyShares Swiss Franc Trust
FXF
$396M
$123K ﹤0.01%
1,100
– –
EGO icon
1728
CALL
Eldorado Gold
EGO
$10.3B
$122K ﹤0.01%
34
-72
-68% -$2.15K
FLR icon
1729
Fluor
FLR
$7.05B
$122K ﹤0.01%
3,073
+371
+14% +$16.4K
MUSA icon
1730
Murphy USA
MUSA
$10.5B
$121K ﹤0.01%
301
-441
-59% -$169K
MSGS icon
1731
Madison Square Garden
MSGS
$9.87B
$121K ﹤0.01%
468
-2
-0.4% -$455
PATH icon
1732
UiPath
PATH
$8.36B
$121K ﹤0.01%
7,381
+6,026
+445% +$93.8K
ORCL icon
1733
CALL
Oracle
ORCL
$438B
$121K ﹤0.01%
7
-1,051
-99% -$250K
ZG icon
1734
Zillow
ZG
$7.96B
$120K ﹤0.01%
1,758
+416
+31% +$29.3K
LEMB icon
1735
iShares JPMorgan EM Local Currency Bond ETF
LEMB
$723M
$120K ﹤0.01%
2,879
+1,795
+166% +$74.7K
XLUI
1736
State Street Utilities Select Sector SPDR Premium Income ETF
XLUI
$26.3M
$119K ﹤0.01%
+5,000
New +$125K
IAT icon
1737
iShares US Regional Banks ETF
IAT
$691M
$119K ﹤0.01%
2,150
-1,243
-37% -$64.6K
ASR icon
1738
Grupo Aeroportuario del Sureste
ASR
$7.87B
$118K ﹤0.01%
+365
New +$113K
IBHG icon
1739
iShares iBonds 2027 Term High Yield and Income ETF
IBHG
$515M
$117K ﹤0.01%
+5,230
New +$117K
IBHF icon
1740
iShares iBonds 2026 Term High Yield and Income ETF
IBHF
$790M
$116K ﹤0.01%
+5,048
New +$117K
PII icon
1741
Polaris
PII
$3.91B
$115K ﹤0.01%
1,824
+152
+9% +$10K
RWO icon
1742
State Street SPDR Dow Jones Global Real Estate ETF
RWO
$1.29B
$115K ﹤0.01%
2,554
-180
-7% -$8.19K
ECG
1743
Everus Construction Group
ECG
$7.17B
$115K ﹤0.01%
+1,347
New +$121K
AVNT icon
1744
Avient
AVNT
$4.22B
$115K ﹤0.01%
3,682
+612
+20% +$18.9K
SM icon
1745
SM Energy
SM
$8B
$115K ﹤0.01%
6,155
+210
+4% +$4.25K
JOBY icon
1746
Joby Aviation
JOBY
$7.83B
$115K ﹤0.01%
8,708
+2,000
+30% +$30.7K
NESR
1747
National Energy Services Reunited Corp
NESR
$3.65B
$114K ﹤0.01%
7,282
-818
-10% -$10.7K
CRBG icon
1748
Corebridge Financial
CRBG
$15.3B
$114K ﹤0.01%
3,778
+712
+23% +$21.9K
IYJ icon
1749
iShares US Industrials ETF
IYJ
$1.96B
$114K ﹤0.01%
767
-75
-9% -$11K
WDFC icon
1750
WD-40
WDFC
$3.08B
$113K ﹤0.01%
575
– –
68 69
70
71 72

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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.