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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
+10.79%
1 Year Est. Return
+46.34%
3 Year Est. Return
+120.97%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$100B
AUM Growth
-$4.77B
(-4.5%)
Cap. Flow
-$14B
Cap. Flow
% of AUM
-13.98%
Top 10 Holdings %
Top 10 Hldgs %
28.48%
Holding
3,287
New
313
Increased
899
Reduced
1,215
Closed
454
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Strategy Inc
MSTR
|
+$548M |
| 2 |
FISV
Fiserv Inc
FISV
|
+$286M |
| 3 |
Amgen
AMGN
|
+$251M |
| 4 |
Palantir
PLTR
|
+$229M |
| 5 |
Royal Bank of Canada
RY
|
+$200M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
NVIDIA
NVDA
|
+$1.11B |
| 2 |
Alphabet (Google) Class A
GOOGL
|
+$1.09B |
| 3 |
iShares Core MSCI EAFE ETF
IEFA
|
+$702M |
| 4 |
Tesla
TSLA
|
+$636M |
| 5 |
Microsoft
MSFT
|
+$480M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 26.61% |
| 2 | Financials | 18.19% |
| 3 | Consumer Discretionary | 7.6% |
| 4 | Communication Services | 7.34% |
| 5 | Industrials | 6.63% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
2026
Silicon Motion
SIMO
$8.45B
| $35.5K | ﹤0.01% |
375
-375
| -50% | -$29.8K |
|
2027
Invesco DB US Dollar Index Bullish Fund
UUP
$414M
| $35.3K | ﹤0.01% |
1,283
+1,142
| +810% | +$31.3K |
|
2028
Invesco International Dividend Achievers ETF
PID
$917M
| $35.3K | ﹤0.01% |
1,660
| – | – |
|
2029
ArcelorMittal
MT
$55.2B
| $35.1K | ﹤0.01% |
972
-287
| -23% | -$9.67K |
|
2030
Petco
WOOF
$780M
| $35K | ﹤0.01% |
+9,065
| New | +$30.3K |
|
2031
iShares US Insurance ETF
IAK
$538M
| $34.8K | ﹤0.01% |
260
+99
| +61% | +$13K |
|
|
IMVP
2032
Invesco India ETF
IMVP
$108M
| $34.4K | ﹤0.01% |
1,375
| – | – |
|
2033
ProShares VIX Short-Term Futures ETF
VIXY
$190M
| $34.4K | ﹤0.01% |
+1,100
| New | +$42.4K |
|
2034
AeroVironment
AVAV
$9.59B
| $34.3K | ﹤0.01% |
109
+76
| +230% | +$19.7K |
|
2035
Consolidated Water Co
CWCO
$505M
| $34.3K | ﹤0.01% |
971
+176
| +22% | +$5.6K |
|
|
ACOG
2036
Alpha Cognition
ACOG
$188M
| $34.1K | ﹤0.01% |
5,292
-6,801
| -56% | -$62K |
|
2037
Archer Aviation
ACHR
$5.37B
| $34.1K | ﹤0.01% |
3,565
-308,335
| -99% | -$3.05M |
|
|
SFBS
2038
ServisFirst Bancshares
SFBS
$5B
| $33.9K | ﹤0.01% |
422
+12
| +3% | +$994 |
|
|
ONCY
2039
Oncolytics Biotech
ONCY
$95.5M
| $33.9K | ﹤0.01% |
24,542
-122
| -0.5% | -$137 |
|
2040
Vanguard Emerging Markets Government Bond ETF
VWOB
$6.25B
| $33.8K | ﹤0.01% |
506
+78
| +18% | +$5.14K |
|
2041
Celanese
CE
$4.75B
| $33.7K | ﹤0.01% |
+800
| New | +$39.8K |
|
2042
SEI Investments
SEIC
$12.7B
| $33.5K | ﹤0.01% |
395
-118
| -23% | -$10.5K |
|
|
GAU
2043
Galiano Gold
GAU
$547M
| $33.3K | ﹤0.01% |
15,329
-4,115
| -21% | -$7.68K |
|
|
AMTM
2044
Amentum Holdings
AMTM
$5.3B
| $33.3K | ﹤0.01% |
1,378
-390
| -22% | -$9.49K |
|
2045
AGNC Investment
AGNC
$13B
| $33K | ﹤0.01% |
3,365
+1,690
| +101% | +$16.4K |
|
|
ACB
2046
CALL
Aurora Cannabis
ACB
$235M
| $32.8K | ﹤0.01% |
+55
| New | +$269 |
|
|
GSWO
2047
Goldman Sachs ActiveBeta World Equity ETF
GSWO
$1.81B
| $32.7K | ﹤0.01% |
574
-674
| -54% | -$37.6K |
|
2048
ODDITY Tech
ODD
$615M
| $32.7K | ﹤0.01% |
526
+148
| +39% | +$9.61K |
|
2049
Commercial Metals
CMC
$7.98B
| $32.6K | ﹤0.01% |
570
+29
| +5% | +$1.6K |
|
|
PARA
2050
Banzai International
PARA
$5.63M
| $32.6K | ﹤0.01% |
560
+464
| +483% | +$31.8K |
|
Similar funds
National Bank of Canada's Q3 2025 Portfolio in Review
As of Q3 2025, National Bank of Canada held 3,287 positions worth $100B, down 4.5% from $105B the previous quarter. Its ten largest holdings account for 28% of the portfolio.
National Bank of Canada withdrew a net $14B in Q3 2025, closing 454 positions and reducing 1,215 holdings. Its most notable exit was Schwab US Broad Market ETF, an estimated $96.5M position sold in full.
By sector, the portfolio is most concentrated in Technology at 27% of assets, up from 24% a quarter earlier, followed by Financials and Consumer Discretionary.
Against the trend, National Bank of Canada opened a new position in iShares MSCI Japan ETF worth $50.2M.
- National Bank of Canada's largest Q3 2025 buy was iShares MSCI Japan ETF: 625,300 shares worth $50.2M.
- National Bank of Canada added most to Strategy Inc in Q3 2025, an estimated $548M increase.
- National Bank of Canada's biggest Q3 2025 reduction was NVIDIA, cutting an estimated $1.11B.
- National Bank of Canada fully exited Schwab US Broad Market ETF in Q3 2025, selling an estimated $96.5M.
- National Bank of Canada's ten largest holdings make up 28% of its $100B portfolio in Q3 2025.
- National Bank of Canada opened 313 new positions and closed 454 in Q3 2025.
- National Bank of Canada's portfolio value fell 4.5% quarter-over-quarter to $100B.
Based on National Bank of Canada's 13F filing for Q3 2025, filed 14 Nov 2025.