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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 | |
|---|---|---|---|---|---|---|
276
Apollo Global Management
APO
$81.9B
| $57.6M | 0.05% |
406,088
+61,174
| +18% | +$8.11M |
|
277
Freeport-McMoran
FCX
$96.9B
| $57.6M | 0.05% |
1,328,952
-1,085,906
| -45% | -$41.2M |
|
278
KE Holdings
BEKE
$19.2B
| $57.3M | 0.05% |
3,230,500
+504,800
| +19% | +$9.71M |
|
279
SPDR Gold Trust
GLD
$144B
| $56.8M | 0.05% |
186,471
-63,297
| -25% | -$19.2M |
|
280
Algonquin Power & Utilities
AQN
$4.44B
| $56.5M | 0.05% |
9,886,425
+801,683
| +9% | +$4.4M |
|
281
VanEck Gold Miners ETF
GDX
$27.8B
| $56.4M | 0.05% |
1,084,079
-292,113
| -21% | -$14.5M |
|
282
CALL
KLA
KLAC
$272B
| $56.4M | 0.05% |
+6,300
| New | +$474K |
|
283
Airbnb
ABNB
$108B
| $56.3M | 0.05% |
425,436
+27,635
| +7% | +$3.5M |
|
284
Eaton
ETN
$179B
| $56.1M | 0.05% |
157,285
-228,353
| -59% | -$70.3M |
|
285
FirstService
FSV
$6.24B
| $56.1M | 0.05% |
322,557
+25,267
| +8% | +$4.38M |
|
286
CALL
AT&T
T
$166B
| $55M | 0.05% |
+19,000
| New | +$524K |
|
287
Paychex
PAYX
$42.8B
| $54.9M | 0.05% |
377,445
+23,133
| +7% | +$3.48M |
|
288
Mercado Libre
MELI
$92.7B
| $54.8M | 0.05% |
20,963
-4,105
| -16% | -$9.59M |
|
289
CALL
Philip Morris
PM
$290B
| $54.6M | 0.05% |
3,000
-300
| -9% | -$51.5K |
|
290
Vanguard S&P 500 ETF
VOO
$1.03T
| $53.9M | 0.05% |
94,879
+42,773
| +82% | +$22.5M |
|
291
State Street SPDR Dow Jones Industrial Average ETF Trust
DIA
$48.2B
| $53.1M | 0.05% |
120,429
+90,781
| +306% | +$37.7M |
|
|
BNY
292
Bank of New York Mellon
BNY
$111B
| $52.3M | 0.05% |
573,902
-24,029
| -4% | -$2.04M |
|
293
Fox Class B
FOX
$23.5B
| $52.1M | 0.05% |
1,008,713
-808,615
| -44% | -$39.4M |
|
294
Snowflake
SNOW
$115B
| $51.8M | 0.05% |
231,457
+210,588
| +1,009% | +$38.1M |
|
295
Bausch Health
BHC
$2.32B
| $51.5M | 0.05% |
7,739,601
+229,785
| +3% | +$1.18M |
|
296
Motorola Solutions
MSI
$77.7B
| $51.5M | 0.05% |
122,398
-112,928
| -48% | -$47.2M |
|
297
Vipshop
VIPS
$6.94B
| $51.4M | 0.05% |
3,416,200
+2,264,637
| +197% | +$32.1M |
|
298
Ameriprise Financial
AMP
$49.9B
| $51.4M | 0.05% |
96,283
+8,544
| +10% | +$4.22M |
|
299
Carrier Global
CARR
$52B
| $51.3M | 0.05% |
701,167
+251,695
| +56% | +$17.1M |
|
300
CALL
RTX Corp
RTX
$300B
| $51.1M | 0.05% |
3,500
+900
| +35% | +$120K |
|
Similar funds
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.