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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 | |
|---|---|---|---|---|---|---|
426
Teradyne
TER
$63B
| $30.7M | 0.03% |
341,208
+191,790
| +128% | +$15.3M |
|
427
Unilever
UL
$133B
| $30.6M | 0.03% |
444,557
+115,461
| +35% | +$8.1M |
|
428
Pan American Silver
PAAS
$22.1B
| $30.6M | 0.03% |
1,085,726
+52,591
| +5% | +$1.36M |
|
429
Marathon Petroleum
MPC
$97.8B
| $30.4M | 0.03% |
183,018
-25,047
| -12% | -$3.75M |
|
430
Celestica
CLS
$42.8B
| $30.4M | 0.03% |
195,340
-170,085
| -47% | -$18.1M |
|
431
DuPont de Nemours
DD
$19.5B
| $30.2M | 0.03% |
351,261
-111,790
| -24% | -$9.29M |
|
432
Kenvue
KVUE
$36.5B
| $30.2M | 0.03% |
1,444,576
+632,457
| +78% | +$14.4M |
|
433
Old Dominion Freight Line
ODFL
$44.1B
| $30.2M | 0.03% |
186,144
+94,122
| +102% | +$15M |
|
434
ON Semiconductor
ON
$32.4B
| $29.9M | 0.03% |
570,131
+369,010
| +183% | +$16M |
|
435
Public Service Enterprise Group
PEG
$37.8B
| $29.7M | 0.03% |
353,121
-115,657
| -25% | -$9.33M |
|
436
Yum! Brands
YUM
$41B
| $29.7M | 0.03% |
200,484
-17,557
| -8% | -$2.56M |
|
437
Kanzhun
BZ
$7.19B
| $29.7M | 0.03% |
+1,663,200
| New | +$27.9M |
|
438
Royal Caribbean
RCL
$82.4B
| $29.5M | 0.03% |
94,263
-78,726
| -46% | -$18.7M |
|
439
Ares Management
ARES
$32.1B
| $29.5M | 0.03% |
170,220
-22,164
| -12% | -$3.5M |
|
440
CALL
Canadian Natural Resources
CNQ
$98.1B
| $29.4M | 0.03% |
9,366
+2,053
| +28% | +$62.2K |
|
441
CALL
Toronto Dominion Bank
TD
$204B
| $29.2M | 0.03% |
3,966
-4,183
| -51% | -$273K |
|
442
Huntington Bancshares
HBAN
$36.1B
| $29.1M | 0.03% |
1,736,341
+329,508
| +23% | +$4.97M |
|
443
M&T Bank
MTB
$36.6B
| $29M | 0.03% |
149,327
+60,658
| +68% | +$10.7M |
|
444
Chubb
CB
$132B
| $29M | 0.03% |
100,309
+16,292
| +19% | +$4.69M |
|
445
CALL
Wells Fargo
WFC
$269B
| $28.8M | 0.03% |
3,593
+1,593
| +80% | +$115K |
|
446
Diamondback Energy
FANG
$56.2B
| $28.4M | 0.03% |
206,913
+23,162
| +13% | +$3.21M |
|
447
CALL
Starbucks
SBUX
$124B
| $28.4M | 0.03% |
+3,100
| New | +$269K |
|
448
Sempra
SRE
$56.2B
| $28.4M | 0.03% |
374,680
-218,107
| -37% | -$16.2M |
|
449
Royal Gold
RGLD
$19.7B
| $28.4M | 0.03% |
159,591
+45,321
| +40% | +$8.02M |
|
450
Trip.com Group
TCOM
$28.7B
| $28.4M | 0.03% |
483,650
-536,197
| -53% | -$32.2M |
|
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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.