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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
+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
Cap. Flow
-$6.15B
Cap. Flow %
-5.84%
Top 10 Hldgs %
26.91%
Holding
3,275
New
443
Increased
1,132
Reduced
929
Closed
300

Top Buys

Rank Stock Value
1
AAPL icon
Apple
AAPL
+$699M
2
UNH icon
UnitedHealth
UNH
+$618M
3
AMZN icon
Amazon
AMZN
+$433M
4
LLY icon
Eli Lilly
LLY
+$410M
5
IEFA icon
iShares Core MSCI EAFE ETF
IEFA
+$392M

Top Sells

Rank Stock Value
1
NVDA icon
NVIDIA
NVDA
+$845M
2
TSLA icon
Tesla
TSLA
+$639M
3
MSFT icon
Microsoft
MSFT
+$528M
4
AVGO icon
Broadcom
AVGO
+$322M
5
TSM icon
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
ATAI icon
2576
AtaiBeckley Inc
ATAI
$2.69B
$2.84K ﹤0.01%
1,301
+564
+77% +$1.01K
SNRE
2577
DELISTED
Sunrise Communications AG American Depositary Shares representing Class A shares
SNRE
$2.82K ﹤0.01%
50
– –
IAUX
2578
i-80 Gold Corp
IAUX
$1.43B
$2.78K ﹤0.01%
4,511
-5,234
-54% -$3.08K
FNUC
2579
Frontier Nuclear and Minerals Inc
FNUC
$50.5M
$2.76K ﹤0.01%
+765
New +$3.3K
FLNA
2580
Filana Therapeutics
FLNA
$45.7M
$2.75K ﹤0.01%
1,520
-200,370
-99% -$357K
SID icon
2581
Companhia Siderúrgica Nacional
SID
$1.19B
$2.72K ﹤0.01%
1,959
– –
TIPX icon
2582
State Street SPDR Bloomberg 1-10 Year TIPS ETF
TIPX
$2.04B
$2.68K ﹤0.01%
+140
New +$2.66K
COSM icon
2583
Cosmos Holdings
COSM
$12.8M
$2.67K ﹤0.01%
+6,357
New +$2.69K
SENS icon
2584
Senseonics Holdings Inc
SENS
$409M
$2.61K ﹤0.01%
275
– –
LOGI icon
2585
Logitech
LOGI
$15B
$2.61K ﹤0.01%
29
-50
-63% -$4.06K
WPRT
2586
Westport Fuel Systems
WPRT
$32.7M
$2.6K ﹤0.01%
869
-16
-2% -$47
ECNS icon
2587
iShares MSCI China Small-Cap ETF
ECNS
$65.9M
$2.59K ﹤0.01%
82
– –
GOOD
2588
Gladstone Commercial Corp
GOOD
$641M
$2.58K ﹤0.01%
180
– –
NXRT
2589
NexPoint Residential Trust
NXRT
$636M
$2.56K ﹤0.01%
77
+25
+48% +$885
SPWR icon
2590
SunPower Inc
SPWR
$48.7M
$2.53K ﹤0.01%
+1,389
New +$2.4K
CSR
2591
Centerspace
CSR
$939M
$2.52K ﹤0.01%
+42
New +$2.58K
RIG icon
2592
Transocean
RIG
$6.39B
$2.5K ﹤0.01%
971
+813
+515% +$2.1K
URG
2593
Ur-Energy
URG
$533M
$2.49K ﹤0.01%
2,642
-3,310
-56% -$2.64K
MDU icon
2594
MDU Resources
MDU
$4.27B
$2.48K ﹤0.01%
+149
New +$2.51K
MBAI
2595
Check-Cap
MBAI
$9.75M
$2.46K ﹤0.01%
+468
New +$2.57K
IGPT icon
2596
Invesco AI and Next Gen Software ETF
IGPT
$1.2B
$2.45K ﹤0.01%
50
– –
LQDW icon
2597
iShares Investment Grade Corporate Bond BuyWrite Strategy ETF
LQDW
$318M
$2.42K ﹤0.01%
95
– –
XTN icon
2598
State Street SPDR S&P Transportation ETF
XTN
$398M
$2.42K ﹤0.01%
30
– –
DNLI icon
2599
Denali Therapeutics
DNLI
$3.97B
$2.4K ﹤0.01%
172
+102
+146% +$1.44K
AZTA icon
2600
Azenta
AZTA
$1.49B
$2.4K ﹤0.01%
78
+74
+1,850% +$2.08K
102 103
104
105 106

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Primecap Management
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Canada Pension Plan Investment Board
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Two Sigma Investments
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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.