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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
PPSI
2726
Pioneer Power Solutions
PPSI
$32.4M
$819 ﹤0.01%
300
– –
TXMD icon
2727
TherapeuticsMD
TXMD
$24.1M
$816 ﹤0.01%
710
+40
+6% +$48
GFR icon
2728
Greenfire Resources
GFR
$862M
$815 ﹤0.01%
+184
New +$862
USOI icon
2729
Credit Suisse AG Credit Suisse X-Links Crude Oil Shares Covered Call ETN
USOI
$41.9M
$799 ﹤0.01%
15
– –
CIB icon
2730
Grupo Cibest SA
CIB
$22.8B
$785 ﹤0.01%
17
-280
-94% -$11.6K
TECX
2731
Tectonic Therapeutic
TECX
$689M
$773 ﹤0.01%
39
– –
DFDV
2732
DeFi Development Corp
DFDV
$90.7M
$772 ﹤0.01%
+40
New +$576
QUIK icon
2733
QuickLogic
QUIK
$226M
$741 ﹤0.01%
121
– –
CRNT icon
2734
Ceragon Networks
CRNT
$201M
$738 ﹤0.01%
+300
New +$684
HOV icon
2735
Hovnanian Enterprises
HOV
$800M
$734 ﹤0.01%
7
-7
-50% -$686
MTLS
2736
Materialise
MTLS
$391M
$734 ﹤0.01%
130
– –
AMSC icon
2737
American Superconductor
AMSC
$1.55B
$733 ﹤0.01%
20
-9,486
-100% -$233K
RYAM icon
2738
Rayonier Advanced Materials
RYAM
$576M
$732 ﹤0.01%
191
+180
+1,636% +$756
BKKT icon
2739
Bakkt Inc
BKKT
$326M
$716 ﹤0.01%
+51
New +$563
INCR
2740
Intercure
INCR
$56.9M
$715 ﹤0.01%
508
– –
AMRC icon
2741
Ameresco
AMRC
$1.46B
$697 ﹤0.01%
46
+38
+475% +$497
BZUN
2742
Baozun
BZUN
$167M
$690 ﹤0.01%
276
– –
BAP icon
2743
Credicorp
BAP
$29.8B
$671 ﹤0.01%
+3
New +$608
SCWO icon
2744
374Water
SCWO
$47.5M
$654 ﹤0.01%
+200
New +$672
VZLA
2745
Vizsla Silver
VZLA
$1.3B
$652 ﹤0.01%
+220
New +$573
DGXX
2746
Digi Power X Inc
DGXX
$408M
$647 ﹤0.01%
+262
New +$410
PRAA icon
2747
PRA Group
PRAA
$782M
$633 ﹤0.01%
+43
New +$685
FDVV icon
2748
Fidelity High Dividend ETF
FDVV
$10.5B
$624 ﹤0.01%
12
– –
BLMN icon
2749
Bloomin' Brands
BLMN
$944M
$619 ﹤0.01%
+72
New +$578
WT icon
2750
WisdomTree
WT
$3.39B
$609 ﹤0.01%
+53
New +$496
108 109
110
111 112

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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.