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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
BWZ icon
1976
State Street SPDR Bloomberg Short Term International Treasury Bond ETF
BWZ
$287M
$46.4K ﹤0.01%
+1,706
New +$46.6K
KMX icon
1977
CarMax
KMX
$8.52B
$46K ﹤0.01%
1,193
-36,838
-97% -$1.47M
CTO
1978
CTO Realty Growth
CTO
$819M
$46K ﹤0.01%
+2,500
New +$42.8K
BNTX icon
1979
BioNTech
BNTX
$23.1B
$46K ﹤0.01%
484
-104
-18% -$10.5K
IYR icon
1980
iShares US Real Estate ETF
IYR
$4.58B
$45.3K ﹤0.01%
483
+78
+19% +$7.43K
BRK.A icon
1981
Berkshire Hathaway Class A
BRK.A
$1.09T
$45.2K ﹤0.01%
6
+4
+200% +$2.99M
EWD icon
1982
iShares MSCI Sweden ETF
EWD
$585M
$45.1K ﹤0.01%
+916
New +$44K
SOUN icon
1983
SoundHound AI
SOUN
$3.32B
$45K ﹤0.01%
4,521
-4,027
-47% -$57.9K
PTH icon
1984
Invesco Dorsey Wright Healthcare Momentum ETF
PTH
$243M
$44.7K ﹤0.01%
900
– –
RBLD icon
1985
First Trust Alerian US NextGen Infrastructure ETF
RBLD
$58.5M
$44.7K ﹤0.01%
600
– –
MAT icon
1986
Mattel
MAT
$4.25B
$44.2K ﹤0.01%
2,228
-28,215
-93% -$545K
PINK icon
1987
Simplify Health Care ETF
PINK
$388M
$44.2K ﹤0.01%
+1,222
New +$42.8K
IHE icon
1988
iShares US Pharmaceuticals ETF
IHE
$1.65B
$44.2K ﹤0.01%
521
-64
-11% -$5.11K
AGX icon
1989
Argan
AGX
$7.84B
$43.9K ﹤0.01%
140
-7
-5% -$2.22K
STIM icon
1990
Neuronetics
STIM
$211M
$43.8K ﹤0.01%
32,000
+120
+0.4% +$251
POET icon
1991
PUT
POET Technologies
POET
$1.54B
$43.7K ﹤0.01%
69
– –
MITT
1992
TPG Mortgage Investment Trust
MITT
$213M
$43.5K ﹤0.01%
5,100
– –
FWONA icon
1993
Liberty Media Series A
FWONA
$23.7B
$43.1K ﹤0.01%
483
+199
+70% +$17.9K
DFAW icon
1994
Dimensional World Equity ETF
DFAW
$1.65B
$43K ﹤0.01%
581
– –
IAUM icon
1995
iShares Gold Trust Micro
IAUM
$6.88B
$43K ﹤0.01%
+1,000
New +$41.4K
FNGS icon
1996
MicroSectors FANG+ ETNs due Jan 8 2038
FNGS
$608M
$42.1K ﹤0.01%
619
– –
BRSP
1997
BrightSpire Capital
BRSP
$629M
$41.9K ﹤0.01%
7,500
– –
EMHY icon
1998
iShares JPMorgan EM High Yield Bond ETF
EMHY
$639M
$41.9K ﹤0.01%
+1,039
New +$41.6K
EWX icon
1999
State Street SPDR S&P Emerging Markets Small Cap ETF
EWX
$701M
$41.9K ﹤0.01%
+640
New +$42.5K
SGOL icon
2000
abrdn Physical Gold Shares ETF
SGOL
$7.42B
$41.9K ﹤0.01%
1,020
– –
78 79
80
81 82

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VanEck Associates
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Primecap Management
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Canada Pension Plan Investment Board
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Two Sigma Investments
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California Public Employees Retirement System
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Manulife (Manufacturers Life Insurance)
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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.