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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
ACB
2076
CALL
Aurora Cannabis
ACB
$235M
$28.2K ﹤0.01%
67
+12
+22% +$59
GAIN icon
2077
Gladstone Investment Corp
GAIN
$654M
$28K ﹤0.01%
2,000
+1,000
+100% +$13.9K
TSAT icon
2078
Telesat
TSAT
$934M
$27.9K ﹤0.01%
1,072
+363
+51% +$10.6K
DC icon
2079
Dakota Gold
DC
$841M
$27.7K ﹤0.01%
4,879
+2,572
+111% +$12.4K
KIE icon
2080
State Street SPDR S&P Insurance ETF
KIE
$681M
$27.5K ﹤0.01%
458
+46
+11% +$2.71K
BTG icon
2081
PUT
B2Gold
BTG
$6.7B
$27.5K ﹤0.01%
61
-360
-86% -$1.68K
MILN
2082
Global X Millennial Consumer ETF
MILN
$103M
$27.4K ﹤0.01%
586
– –
FFLC icon
2083
Fidelity Fundamental Large Cap Core ETF
FFLC
$1.24B
$27.4K ﹤0.01%
+514
New +$27.1K
SPRE icon
2084
SP Funds S&P Global REIT Sharia ETF
SPRE
$222M
$27.4K ﹤0.01%
1,400
– –
DX
2085
Dynex Capital
DX
$3.23B
$27.1K ﹤0.01%
1,935
+9
+0.5% +$121
BGB
2086
Blackstone Strategic Credit 2027 Term Fund
BGB
$505M
$27.1K ﹤0.01%
+2,300
New +$27.2K
SDOG icon
2087
ALPS Sector Dividend Dogs ETF
SDOG
$1.45B
$27K ﹤0.01%
446
-1,650
-79% -$98.8K
UHAL icon
2088
U-Haul Holding Co
UHAL
$14.5B
$26.6K ﹤0.01%
528
+3
+0.6% +$160
GWX icon
2089
State Street SPDR S&P International Small Cap ETF
GWX
$928M
$26.5K ﹤0.01%
650
– –
VPU
2090
Vanguard Utilities ETF
VPU
$8.52B
$26.4K ﹤0.01%
143
+16
+13% +$3.07K
ODD icon
2091
ODDITY Tech
ODD
$595M
$26.3K ﹤0.01%
656
+130
+25% +$5.88K
STEM icon
2092
Stem
STEM
$48.8M
$26.2K ﹤0.01%
1,746
-315
-15% -$6.04K
TDOC icon
2093
Teladoc Health
TDOC
$1.26B
$26.2K ﹤0.01%
3,748
+388
+12% +$3.04K
ETHO icon
2094
Amplify Etho Climate Leadership US ETF
ETHO
$197M
$26.1K ﹤0.01%
400
– –
FLQS icon
2095
Franklin US Small Cap Multifactor Index ETF
FLQS
$53.1M
$25.9K ﹤0.01%
600
– –
VCLT icon
2096
Vanguard Long-Term Corporate Bond ETF
VCLT
$8.8B
$25.6K ﹤0.01%
338
+29
+9% +$2.24K
RBC icon
2097
RBC Bearings
RBC
$17.6B
$25.6K ﹤0.01%
57
+36
+171% +$15.2K
RSPA
2098
Invesco S&P 500 Equal Weight Income Advantage ETF
RSPA
$1.06B
$25.5K ﹤0.01%
500
+100
+25% +$5.09K
SMIN icon
2099
iShares MSCI India Small-Cap ETF
SMIN
$773M
$25.4K ﹤0.01%
365
– –
WOOF icon
2100
Petco
WOOF
$780M
$25.4K ﹤0.01%
9,065
– –
82 83
84
85 86

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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.