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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
AZIO
2826
Azio AI Holdings
AZIO
$26.3M
$194 ﹤0.01%
112
-400
-78% -$888
CLNE icon
2827
Clean Energy Fuels
CLNE
$384M
$190 ﹤0.01%
98
-16
-14% -$27
NEXA icon
2828
Nexa Resources
NEXA
$1.93B
$177 ﹤0.01%
36
+20
+125% +$108
GFAI icon
2829
Guardforce AI
GFAI
$10.9M
$172 ﹤0.01%
150
– –
KCHVU
2830
Kochav Defense Acquisition Corp Units
KCHVU
$171 ﹤0.01%
+17
New +$172
RSKD icon
2831
Riskified
RSKD
$846M
$164 ﹤0.01%
33
+28
+560% +$134
OGN icon
2832
Organon & Co
OGN
$3.59B
$161 ﹤0.01%
16
-2,336
-99% -$24.1K
KKR.PRD
2833
KKR & Co 6.25% Series D Preferred Stock
KKR.PRD
$2.53B
$161 ﹤0.01%
+3
New +$147
KG
2834
Kestrel Group
KG
$66.3M
$159 ﹤0.01%
6
– –
ARWR icon
2835
Arrowhead Research
ARWR
$12.3B
$158 ﹤0.01%
+10
New +$143
PRIM icon
2836
Primoris Services
PRIM
$4.39B
$155 ﹤0.01%
+2
New +$136
VSTM icon
2837
Verastem
VSTM
$629M
$154 ﹤0.01%
+37
New +$232
BKSY icon
2838
BlackSky Technology
BKSY
$1.3B
$144 ﹤0.01%
+7
New +$75
EXEEL
2839
DELISTED
Expand Energy Corp Class C Warrants
EXEEL
$143 ﹤0.01%
1
– –
DOMO icon
2840
Domo
DOMO
$184M
$140 ﹤0.01%
+10
New +$101
IPGP icon
2841
IPG Photonics
IPGP
$3.71B
$137 ﹤0.01%
2
– –
ARBE icon
2842
Arbe Robotics
ARBE
$92M
$134 ﹤0.01%
75
– –
CTRN icon
2843
Citi Trends
CTRN
$617M
$133 ﹤0.01%
+4
New +$102
ONL
2844
Orion Office REIT
ONL
$161M
$133 ﹤0.01%
62
– –
FUFU icon
2845
BitFuFu
FUFU
$217M
$132 ﹤0.01%
+97
New +$359
STKH
2846
Steakholder Foods
STKH
$2.01M
$126 ﹤0.01%
3
– –
SGMO
2847
DELISTED
SANGAMO THERAPEUTICS INC
SGMO
$125 ﹤0.01%
230
-2,051
-90% -$1.22K
WLDN icon
2848
Willdan Group
WLDN
$1.29B
$125 ﹤0.01%
+2
New +$95
SVRN
2849
OceanPal Inc
SVRN
$11.9M
– –
0
– –
GROY.WS icon
2850
Gold Royalty Corp Warrants
GROY.WS
$213M
$122 ﹤0.01%
55
-77
-58% -$23
112 113
114
115 116

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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.