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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
NTB icon
2776
Bank of N.T. Butterfield & Son
NTB
$2.52B
$442 ﹤0.01%
10
– –
OPEN icon
2777
Opendoor
OPEN
$3.27B
$441 ﹤0.01%
853
+255
+43% +$184
DFNS
2778
T3 Defense Inc
DFNS
$35.9M
– –
0
– –
OTLY
2779
Oatly Group
OTLY
$435M
$436 ﹤0.01%
37
– –
HAIN icon
2780
Hain Celestial
HAIN
$52.3M
$424 ﹤0.01%
279
-140
-33% -$327
RC
2781
Ready Capital
RC
$289M
$418 ﹤0.01%
+96
New +$426
SLP icon
2782
Simulations Plus
SLP
$370M
$418 ﹤0.01%
24
+12
+100% +$337
RNAC icon
2783
Cartesian Therapeutics
RNAC
$264M
$415 ﹤0.01%
40
– –
WBTN
2784
WEBTOON Entertainment Inc
WBTN
$1.18B
$409 ﹤0.01%
45
– –
ARBK
2785
Argo Blockchain
ARBK
$41.7M
$407 ﹤0.01%
+10
New +$816
ALP
2786
Alpha Compute
ALP
$3.87M
$402 ﹤0.01%
73
– –
FLYW icon
2787
Flywire
FLYW
$2.13B
$397 ﹤0.01%
34
+5
+17% +$51
LTRX icon
2788
Lantronix
LTRX
$277M
$380 ﹤0.01%
133
– –
BRAG
2789
Bragg Gaming Group
BRAG
$51.8M
$373 ﹤0.01%
+94
New +$390
SBXD
2790
SilverBox Corp IV
SBXD
$275M
$368 ﹤0.01%
37
-5
-12% -$52
BODI icon
2791
The Beachbody Company
BODI
$47.4M
$365 ﹤0.01%
90
+20
+29% +$85
TV icon
2792
Televisa
TV
$1.52B
$344 ﹤0.01%
157
– –
CLGN icon
2793
CollPlant Biotechnologies
CLGN
$5.62M
$338 ﹤0.01%
250
– –
CMND icon
2794
Clearmind Medicine
CMND
$2.7M
$334 ﹤0.01%
1
– –
ABCL icon
2795
AbCellera Biologics
ABCL
$3.16B
$331 ﹤0.01%
106
-3,127
-97% -$7.78K
COKE icon
2796
Coca-Cola Consolidated
COKE
$12.5B
$321 ﹤0.01%
+3
New +$362
RRR icon
2797
Red Rock Resorts
RRR
$3.74B
$300 ﹤0.01%
+6
New +$274
VMO icon
2798
Invesco Municipal Opportunity Trust
VMO
$664M
$293 ﹤0.01%
+32
New +$295
PLL
2799
DELISTED
Piedmont Lithium
PLL
$290 ﹤0.01%
50
-974
-95% -$6.37K
STAA icon
2800
STAAR Surgical
STAA
$1.25B
$285 ﹤0.01%
+17
New +$300
110 111
112
113 114

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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.