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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
+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
Cap. Flow
-$14B
Cap. Flow %
-13.98%
Top 10 Hldgs %
28.48%
Holding
3,287
New
313
Increased
899
Reduced
1,215
Closed
454

Top Buys

Rank Stock Value
1
MSTR icon
Strategy Inc
MSTR
+$548M
2
FISV
Fiserv Inc
FISV
+$286M
3
AMGN icon
Amgen
AMGN
+$251M
4
PLTR icon
Palantir
PLTR
+$229M
5
RY icon
Royal Bank of Canada
RY
+$200M

Top Sells

Rank Stock Value
1
NVDA icon
NVIDIA
NVDA
+$1.11B
2
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$1.09B
3
IEFA icon
iShares Core MSCI EAFE ETF
IEFA
+$702M
4
TSLA icon
Tesla
TSLA
+$636M
5
MSFT icon
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
PLSE icon
2351
Pulse Biosciences
PLSE
$3.2B
$8.82K ﹤0.01%
500
-822
-62% -$13K
VFC icon
2352
VF Corp
VFC
$5.79B
$8.76K ﹤0.01%
608
+599
+6,656% +$8.05K
BAR icon
2353
GraniteShares Gold Shares
BAR
$1.46B
$8.75K ﹤0.01%
230
– –
AMRX icon
2354
Amneal Pharmaceuticals
AMRX
$6.02B
$8.74K ﹤0.01%
873
+312
+56% +$2.8K
LUMN icon
2355
Lumen
LUMN
$6.6B
$8.7K ﹤0.01%
1,426
-81
-5% -$389
SCHE icon
2356
Schwab Emerging Markets Equity ETF
SCHE
$12.9B
$8.69K ﹤0.01%
+258
New +$8.13K
FXC icon
2357
Invesco CurrencyShares Canadian Dollar Trust
FXC
$73.6M
$8.64K ﹤0.01%
123
– –
COWZ icon
2358
Pacer US Cash Cows 100 ETF
COWZ
$19.8B
$8.62K ﹤0.01%
150
– –
SPPP
2359
Sprott Physical Platinum and Palladium Trust
SPPP
$602M
$8.52K ﹤0.01%
637
-369
-37% -$4.56K
MESO
2360
Mesoblast
MESO
$2.14B
$8.46K ﹤0.01%
525
– –
XOVR
2361
EntrepreneurShares Series Trust ERShares Private-Public Crossover ETF
XOVR
$1.89B
$8.44K ﹤0.01%
+400
New +$7.98K
NOG icon
2362
Northern Oil and Gas
NOG
$2.61B
$8.38K ﹤0.01%
338
+87
+35% +$2.31K
REAX icon
2363
Real Brokerage
REAX
$523M
$8.3K ﹤0.01%
1,985
– –
BBBY
2364
Bed Bath & Beyond
BBBY
$423M
$8.25K ﹤0.01%
928
+734
+378% +$6.07K
UCTT
2365
Ultra Clean Holdings
UCTT
$4.21B
$8.16K ﹤0.01%
300
+288
+2,400% +$7.08K
RBC icon
2366
RBC Bearings
RBC
$17.5B
$8.15K ﹤0.01%
21
-70
-77% -$27.3K
GRCE
2367
Grace Therapeutics
GRCE
$43.5M
$8.04K ﹤0.01%
2,716
– –
XENE icon
2368
Xenon Pharmaceuticals
XENE
$6.21B
$8.03K ﹤0.01%
200
-35
-15% -$1.23K
EEFT icon
2369
Euronet Worldwide
EEFT
$2.78B
$8.01K ﹤0.01%
91
-2,389
-96% -$229K
BOAT icon
2370
SonicShares Global Shipping ETF
BOAT
$85.2M
$7.91K ﹤0.01%
256
– –
SKYT
2371
DELISTED
SkyWater Technology
SKYT
$7.87K ﹤0.01%
422
-38
-8% -$439
VOTE icon
2372
TCW Transform 500 ETF
VOTE
$1.15B
$7.84K ﹤0.01%
100
– –
DBEU icon
2373
Xtrackers MSCI Europe Hedged Equity ETF
DBEU
$802M
$7.83K ﹤0.01%
170
– –
CREX icon
2374
Creative Realities
CREX
$44M
$7.78K ﹤0.01%
3,441
-7,967
-70% -$21.1K
SEMR
2375
DELISTED
Semrush
SEMR
$7.78K ﹤0.01%
1,100
+600
+120% +$4.89K
93 94
95
96 97

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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.