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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
+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
(+9.5%)
Cap. Flow
+$3.43B
Cap. Flow
% of AUM
3.12%
Top 10 Holdings %
Top 10 Hldgs %
29.27%
Holding
3,206
New
380
Increased
1,219
Reduced
855
Closed
337
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Meta Platforms (Facebook)
META
|
+$990M |
| 2 |
Alphabet (Google) Class A
GOOGL
|
+$877M |
| 3 |
Tesla
TSLA
|
+$841M |
| 4 |
Microsoft
MSFT
|
+$835M |
| 5 |
Alphabet (Google) Class C
GOOG
|
+$601M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$799M |
| 2 |
Toronto Dominion Bank
TD
|
+$363M |
| 3 |
Brookfield
BN
|
+$315M |
| 4 |
Salesforce
CRM
|
+$305M |
| 5 |
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 | |
|---|---|---|---|---|---|---|
201
Open Text
OTEX
$5.8B
| $91M | 0.08% |
2,804,072
+265,335
| +10% | +$9.46M |
|
202
Arista Networks
ANET
$265B
| $90.6M | 0.08% |
691,713
-392,060
| -36% | -$54M |
|
203
CVS Health
CVS
$121B
| $90.1M | 0.08% |
1,134,870
-635,970
| -36% | -$50.1M |
|
|
BNY
204
Bank of New York Mellon
BNY
$111B
| $89.9M | 0.08% |
774,025
-210,767
| -21% | -$23.3M |
|
205
Cardinal Health
CAH
$54.5B
| $89.1M | 0.08% |
433,798
+95,875
| +28% | +$18M |
|
206
PUT
McDonald's
MCD
$195B
| $88.6M | 0.08% |
+2,900
| New | +$888K |
|
207
Prologis
PLD
$134B
| $87.7M | 0.08% |
686,642
+362,563
| +112% | +$45.2M |
|
208
Medtronic
MDT
$116B
| $87.5M | 0.08% |
911,150
-65,555
| -7% | -$6.37M |
|
209
Kenvue
KVUE
$36.5B
| $86.9M | 0.08% |
5,040,408
+3,977,403
| +374% | +$65M |
|
210
DoorDash
DASH
$92.1B
| $86.5M | 0.08% |
381,813
-13,648
| -3% | -$3.2M |
|
211
Imperial Oil
IMO
$63.1B
| $85.5M | 0.08% |
993,319
+110,882
| +13% | +$10.1M |
|
212
Gildan
GIL
$10.6B
| $85.5M | 0.08% |
1,320,153
-143,480
| -10% | -$8.53M |
|
|
213
CALL
Toronto Dominion Bank
TD
$204B
| $85.4M | 0.08% |
9,062
+2,063
| +29% | +$174K |
|
214
Stantec
STN
$8.47B
| $85.3M | 0.08% |
905,505
+28,464
| +3% | +$2.93M |
|
215
NextEra Energy
NEE
$179B
| $85.2M | 0.08% |
1,061,711
+137,592
| +15% | +$11.4M |
|
216
Synopsys
SNPS
$79B
| $85.1M | 0.08% |
181,280
-4,803
| -3% | -$2.13M |
|
217
Deere & Co
DE
$167B
| $84.6M | 0.08% |
181,660
+6,900
| +4% | +$3.24M |
|
218
PUT
Oracle
ORCL
$442B
| $83.6M | 0.08% |
+4,289
| New | +$1.02M |
|
219
Lowe's Companies
LOW
$121B
| $83.4M | 0.08% |
345,787
+75,541
| +28% | +$18.1M |
|
220
Cadence Design Systems
CDNS
$89B
| $83.4M | 0.08% |
266,745
-9,876
| -4% | -$3.22M |
|
221
Quanta Services
PWR
$102B
| $82.2M | 0.07% |
194,716
-122,568
| -39% | -$53.9M |
|
222
Citigroup
C
$231B
| $81.9M | 0.07% |
702,255
-317,748
| -31% | -$33M |
|
223
PUT
PayPal
PYPL
$50.6B
| $81.6M | 0.07% |
13,975
+11,975
| +599% | +$778K |
|
|
224
PUT
Apple
AAPL
$4.41T
| $81.6M | 0.07% |
3,000
-4,854
| -62% | -$1.3M |
|
225
Rexford Industrial Realty
REXR
$8.11B
| $81.2M | 0.07% |
2,098,000
+728,000
| +53% | +$30M |
|
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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.