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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
+14.61%
1 Year Est. Return
+46.34%
3 Year Est. Return
+120.97%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$105B
AUM Growth
+$9.72B
(+10%)
Cap. Flow
-$6.15B
Cap. Flow
% of AUM
-5.84%
Top 10 Holdings %
Top 10 Hldgs %
26.91%
Holding
3,275
New
443
Increased
1,132
Reduced
929
Closed
300
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$699M |
| 2 |
UnitedHealth
UNH
|
+$618M |
| 3 |
Amazon
AMZN
|
+$433M |
| 4 |
Eli Lilly
LLY
|
+$410M |
| 5 |
iShares Core MSCI EAFE ETF
IEFA
|
+$392M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
NVIDIA
NVDA
|
+$845M |
| 2 |
Tesla
TSLA
|
+$639M |
| 3 |
Microsoft
MSFT
|
+$528M |
| 4 |
Broadcom
AVGO
|
+$322M |
| 5 |
TSMC
TSM
|
+$322M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 23.82% |
| 2 | Financials | 17.46% |
| 3 | Consumer Discretionary | 8.35% |
| 4 | Communication Services | 7.63% |
| 5 | Industrials | 7.12% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
226
PUT
Walt Disney
DIS
$178B
| $75.6M | 0.07% |
6,097
+2,188
| +56% | +$227K |
|
227
Regeneron Pharmaceuticals
REGN
$82.2B
| $75M | 0.07% |
142,812
+44,828
| +46% | +$25M |
|
228
CALL
Palo Alto Networks
PANW
$315B
| $74.5M | 0.07% |
3,641
+3,000
| +468% | +$557K |
|
229
PUT
Nike
NKE
$60.1B
| $72.1M | 0.07% |
10,155
-12,974
| -56% | -$779K |
|
230
Take-Two Interactive
TTWO
$45.4B
| $71.9M | 0.07% |
295,916
+155,806
| +111% | +$35.1M |
|
231
Vanguard Intermediate-Term Corporate Bond ETF
VCIT
$67.6B
| $71.8M | 0.07% |
865,566
+801,407
| +1,249% | +$65.1M |
|
232
PUT
Pfizer
PFE
$150B
| $71.5M | 0.07% |
29,495
-11,010
| -27% | -$257K |
|
233
Elevance Health
ELV
$86.6B
| $70.7M | 0.07% |
181,798
-19,929
| -10% | -$8.02M |
|
234
Williams Companies
WMB
$90.1B
| $70.1M | 0.07% |
1,115,790
-451,684
| -29% | -$26.7M |
|
235
Futu Holdings
FUTU
$14.7B
| $69.7M | 0.07% |
564,000
-30,502
| -5% | -$3.12M |
|
236
Becton Dickinson
BDX
$50B
| $69.4M | 0.07% |
402,958
+119,024
| +42% | +$21.8M |
|
237
CSX Corp
CSX
$92.8B
| $68.4M | 0.07% |
2,096,618
+177,414
| +9% | +$5.34M |
|
|
AXON
238
Axon Enterprise
AXON
$48.7B
| $68.3M | 0.06% |
82,534
+13,638
| +20% | +$9.28M |
|
239
Alibaba
BABA
$300B
| $68.3M | 0.06% |
602,233
+475,053
| +374% | +$56.2M |
|
|
HES
240
DELISTED
Hess
HES
| $67.4M | 0.06% |
486,516
-278,062
| -36% | -$37.5M |
|
241
PUT
Snowflake
SNOW
$115B
| $67.1M | 0.06% |
3,000
+1,250
| +71% | +$226K |
|
242
Autodesk
ADSK
$52.7B
| $67M | 0.06% |
216,521
+45,433
| +27% | +$12.9M |
|
243
MP Materials
MP
$9.64B
| $67M | 0.06% |
2,013,462
+2,003,091
| +19,314% | +$51.1M |
|
244
Parker-Hannifin
PH
$135B
| $66.7M | 0.06% |
95,496
-7,724
| -7% | -$4.88M |
|
245
GE HealthCare
GEHC
$32.6B
| $66.6M | 0.06% |
899,693
+514,007
| +133% | +$35.8M |
|
246
Zoetis
ZTS
$30.4B
| $66.2M | 0.06% |
424,390
-53,400
| -11% | -$8.47M |
|
247
Duke Energy
DUK
$96.3B
| $66.1M | 0.06% |
560,021
-153,949
| -22% | -$18.2M |
|
248
Charles River Laboratories
CRL
$13.6B
| $66M | 0.06% |
434,868
+400,881
| +1,180% | +$53.5M |
|
|
FISV
249
Fiserv Inc
FISV
$27.4B
| $65.3M | 0.06% |
378,559
-63,175
| -14% | -$11.5M |
|
250
United Parcel Service
UPS
$88.4B
| $65.1M | 0.06% |
645,297
+409,878
| +174% | +$40.3M |
|
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National Bank of Canada's Q2 2025 Portfolio in Review
As of Q2 2025, National Bank of Canada held 3,275 positions worth $105B, up 10% from $95.5B the previous quarter. Its ten largest holdings account for 27% of the portfolio.
National Bank of Canada withdrew a net $6.15B in Q2 2025, closing 300 positions and reducing 929 holdings. Its most notable exit was Discover Financial Services, an estimated $98.5M position sold in full.
By sector, the portfolio is most concentrated in Technology at 24% of assets, up from 23% a quarter earlier, followed by Financials and Consumer Discretionary.
Against the trend, National Bank of Canada opened a new position in Emera Inc worth $183M.
- National Bank of Canada's largest Q2 2025 buy was Emera Inc: 3,995,659 shares worth $183M.
- National Bank of Canada added most to Apple in Q2 2025, an estimated $699M increase.
- National Bank of Canada's biggest Q2 2025 reduction was NVIDIA, cutting an estimated $845M.
- National Bank of Canada fully exited Discover Financial Services in Q2 2025, selling an estimated $98.5M.
- National Bank of Canada's ten largest holdings make up 27% of its $105B portfolio in Q2 2025.
- National Bank of Canada opened 443 new positions and closed 300 in Q2 2025.
- National Bank of Canada's portfolio value rose 10% quarter-over-quarter to $105B.
Based on National Bank of Canada's 13F filing for Q2 2025, filed 13 Aug 2025.