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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
KTOS icon
1876
Kratos Defense & Security Solutions
KTOS
$12B
$71K ﹤0.01%
936
+261
+39% +$21.4K
NAMS icon
1877
NewAmsterdam Pharma
NAMS
$3.16B
$70.8K ﹤0.01%
2,017
+68
+3% +$2.48K
NTES icon
1878
NetEase
NTES
$79.9B
$70.3K ﹤0.01%
+512
New +$72.7K
EART
1879
Global X Rare Earth & Critical Materials ETF
EART
$43.1M
$69.9K ﹤0.01%
+2,524
New +$63.6K
ACB
1880
Aurora Cannabis
ACB
$225M
$69.8K ﹤0.01%
16,669
-5,540
-25% -$27.1K
VBK icon
1881
Vanguard Morningstar Small-Cap Growth ETF
VBK
$24.9B
$69.4K ﹤0.01%
230
– –
CSAN icon
1882
Cosan
CSAN
$2.47B
$69.1K ﹤0.01%
+17,500
New +$79.7K
EFR
1883
Eaton Vance Senior Floating-Rate Fund
EFR
$317M
$69K ﹤0.01%
6,219
+3,600
+137% +$40.3K
VMBS icon
1884
Vanguard Mortgage-Backed Securities ETF
VMBS
$15.6B
$69K ﹤0.01%
1,465
– –
PAGP icon
1885
Plains GP Holdings
PAGP
$5.06B
$68.9K ﹤0.01%
3,600
+1,401
+64% +$25.3K
DCOR icon
1886
Dimensional US Core Equity 1 ETF
DCOR
$3.48B
$67.7K ﹤0.01%
920
+477
+108% +$34.7K
BKSY icon
1887
BlackSky Technology
BKSY
$1.25B
$67.6K ﹤0.01%
+3,612
New +$73.6K
MMSI icon
1888
Merit Medical Systems
MMSI
$5.4B
$67.4K ﹤0.01%
765
-3
-0.4% -$255
FLRN icon
1889
State Street SPDR Bloomberg Investment Grade Floating Rate ETF
FLRN
$2.97B
$67.3K ﹤0.01%
2,189
-13,096
-86% -$403K
SF
1890
Stifel
SF
$13B
$66.5K ﹤0.01%
797
+47
+6% +$3.76K
GROY icon
1891
Gold Royalty Corp
GROY
$727M
$66.4K ﹤0.01%
16,466
+6,299
+62% +$24.1K
BTQ
1892
BTQ Technologies Corp
BTQ
$595M
$66.2K ﹤0.01%
13,490
-12,690
-48% -$96.4K
OSCR icon
1893
Oscar Health
OSCR
$10.1B
$65.7K ﹤0.01%
4,575
+305
+7% +$5.28K
CLOA icon
1894
BlackRock ETF Trust II iShares AAA CLO Active ETF
CLOA
$2.26B
$65.4K ﹤0.01%
+1,264
New +$65.5K
VRP icon
1895
Invesco Variable Rate Preferred ETF
VRP
$3.01B
$64.8K ﹤0.01%
2,662
– –
FFND icon
1896
The Future Fund Active ETF
FFND
$104M
$63.7K ﹤0.01%
2,121
– –
LYFT icon
1897
Lyft
LYFT
$6.54B
$63.6K ﹤0.01%
3,280
-19,331
-85% -$402K
ADT icon
1898
ADT
ADT
$5.48B
$63.3K ﹤0.01%
7,864
+1,699
+28% +$14.1K
EDIV icon
1899
State Street SPDR S&P Emerging Markets Dividend ETF
EDIV
$1.22B
$63.3K ﹤0.01%
1,615
– –
RSPD icon
1900
Invesco S&P 500 Equal Weight Consumer Discretionary ETF
RSPD
$334M
$63.2K ﹤0.01%
1,109
+810
+271% +$45.7K
74 75
76
77 78

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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.