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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
CVE.WS
2001
DELISTED
Cenovus Energy Inc Warrants
CVE.WS
$41.7K ﹤0.01%
2,468
-140
-5% -$1.77K
PICK icon
2002
iShares MSCI Global Metals & Mining Producers ETF
PICK
$2.28B
$41.4K ﹤0.01%
806
-78
-9% -$3.68K
SMR icon
2003
NuScale Power
SMR
$4.04B
$40.9K ﹤0.01%
2,883
-527,917
-99% -$15.1M
JEPQ icon
2004
JPMorgan Nasdaq Equity Premium Income ETF
JEPQ
$41.9B
$40.8K ﹤0.01%
702
-26
-4% -$1.51K
GXC icon
2005
State Street SPDR S&P China ETF
GXC
$469M
$40.7K ﹤0.01%
420
– –
DFEB icon
2006
FT Vest US Equity Deep Buffer ETF February
DFEB
$464M
$40.6K ﹤0.01%
850
– –
VOTE icon
2007
TCW Transform 500 ETF
VOTE
$1.15B
$40.1K ﹤0.01%
500
+400
+400% +$31.8K
SPWO icon
2008
SP Funds S&P World ex-US ETF
SPWO
$212M
$39.9K ﹤0.01%
1,464
– –
DCI icon
2009
Donaldson
DCI
$11.1B
$39.5K ﹤0.01%
+447
New +$38.8K
EWU icon
2010
iShares MSCI United Kingdom ETF
EWU
$4.13B
$39.5K ﹤0.01%
898
+562
+167% +$24.1K
FFLS icon
2011
The Future Fund Long/Short ETF
FFLS
$45.2M
$39.5K ﹤0.01%
1,703
-684
-29% -$16.9K
BAB icon
2012
Invesco Taxable Municipal Bond ETF
BAB
$1.01B
$39.4K ﹤0.01%
1,450
– –
IAK icon
2013
iShares US Insurance ETF
IAK
$538M
$39.3K ﹤0.01%
289
+29
+11% +$3.84K
USNA icon
2014
Usana Health Sciences
USNA
$250M
$38.7K ﹤0.01%
1,974
+52
+3% +$1.08K
AFSM icon
2015
First Trust Active Factor Small Cap ETF
AFSM
$124M
$38.4K ﹤0.01%
1,170
-36
-3% -$1.17K
MIST icon
2016
Milestone Pharmaceuticals
MIST
$133M
$37.8K ﹤0.01%
18,700
– –
PAAA icon
2017
PGIM AAA CLO ETF
PAAA
$11.3B
$37.7K ﹤0.01%
+736
New +$37.8K
CIG icon
2018
CEMIG Preferred Shares
CIG
$5.58B
$37.6K ﹤0.01%
18,864
-8,158
-30% -$16.7K
FXD icon
2019
First Trust Consumer Discretionary AlphaDEX Fund
FXD
$273M
$37.6K ﹤0.01%
550
– –
EVMN
2020
Evommune Inc
EVMN
$511M
$37.5K ﹤0.01%
+2,200
New +$41.3K
GSWO
2021
Goldman Sachs ActiveBeta World Equity ETF
GSWO
$1.81B
$37.5K ﹤0.01%
649
+75
+13% +$4.28K
XSW icon
2022
State Street SPDR S&P Software & Services ETF
XSW
$515M
$37.4K ﹤0.01%
200
– –
TDIC
2023
Dreamland Ltd
TDIC
$4.02M
$37.2K ﹤0.01%
+1,600
New +$218K
RZLV
2024
Rezolve AI
RZLV
$1.06B
$37.1K ﹤0.01%
14,500
-308,800
-96% -$1.17M
TRVI icon
2025
Trevi Therapeutics
TRVI
$2.53B
$37.1K ﹤0.01%
2,967
+31
+1% +$358
79 80
81
82 83

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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.