--- title: "TD Asset Management Q4 2025: Canadian Stability Meets the +730% Netflix Pivot" type: research slug: td-asset-management-q4-2025-netflix-rotation canonical_url: https://13finsight.com/research/td-asset-management-q4-2025-netflix-rotation published_at: 2026-04-05T12:13:20.983Z updated_at: 2026-04-05T12:13:26.166Z author: Marcus Chen author_title: Senior Market Analyst author_url: https://13finsight.com/authors/marcus-chen word_count: 353 locale: en source: 13F Insight --- # TD Asset Management Q4 2025: Canadian Stability Meets the +730% Netflix Pivot > TD Asset Management's latest 13F features a robust $124 billion portfolio blending Canadian bank stability with an aggressive rotation into US tech, led by a 730% surge in Netflix shares. A Cross-Border Strategy for Q4 2025 TD Asset Management Inc's latest 13F filing for Q4 2025 showcases a massive $124.30 billion US equity portfolio that masterfully balances the stability of Canadian banking giants with an aggressive growth tilt into US technology leaders. While the firm's core is rooted in finance, the final quarter of 2025 was marked by a decisive pivot into premium software and entertainment names. The Netflix and ServiceNow Rotation The most notable moves in TD's Q4 report involved a significant expansion of its technology exposure. The firm grew its share count in Netflix (NFLX) by a massive 730%, expanding its stake to over 4.4 million shares valued at $419.9 million. Similarly, exposure to ServiceNow (NOW) surged by 385%. These additions reflect a clear mandate to increase weighting in the cloud infrastructure and digital media sectors during the market's year-end rally. The Canadian Banking Core: RY and TD Despite the aggressive tech rotation, TD Asset Management remains deeply anchored in the Canadian financial sector. Royal Bank of Canada (RY) holds the top spot in the US-listed portfolio with a $5.30 billion valuation, followed closely by The Toronto-Dominion Bank (TD) at $3.55 billion. Together with Bank of Montreal (BMO) and CIBC (CM), these financial institutions form a "stable backbone" that accounts for over 10% of the firm's US equity book. US Tech Dominance: NVIDIA and Apple TD's commitment to the US AI and hardware trade is also evident. NVIDIA (NVDA) is the firm's second-largest holding at $5.23 billion, while Apple (AAPL) and Microsoft (MSFT) both maintain top-tier positions with valuations exceeding $4.5 billion each. The firm's ability to maintain these massive stakes while rotating capital into higher-beta growth names like NFLX signals a multi-layered risk management strategy. Strategic Summary TD Asset Management's Q4 filing reveals a firm that is evolving beyond its traditional banking roots. By leveraging the cash flow and stability of its Canadian core to fund aggressive builds in US-listed tech growth, TD is positioning itself for a diversified growth trajectory in 2026. For a complete list of holdings and historical positioning data, visit the TD Asset Management 13F profile. ## FAQ ### What is TD Asset Management's largest US-listed holding? Royal Bank of Canada (RY) is the largest US-listed position in TD's portfolio, valued at $5.30 billion as of Q4 2025. ### Which tech stock did TD Asset Management buy most aggressively in Q4? The firm increased its stake in Netflix (NFLX) by a massive 730% during the fourth quarter, signaling a major pivot into the entertainment sector. ### Is TD Asset Management heavily invested in AI? Yes, NVIDIA (NVDA) is the firm's second-largest US-listed holding with a $5.23 billion valuation, reflecting significant conviction in the AI theme. --- Source: 13F Insight — https://13finsight.com/research/td-asset-management-q4-2025-netflix-rotation Author: Marcus Chen — https://13finsight.com/authors/marcus-chen Last updated: 2026-04-05T12:13:26.166Z