National Bank of Canada Portfolio holdings

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.