We are live on
!
Find out more
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 | |
|---|---|---|---|---|---|---|
26
Canadian National Railway
CNI
$76.4B
| $775M | 0.74% |
7,454,515
-125,109
| -2% | -$12.7M |
|
27
Costco
COST
$421B
| $773M | 0.73% |
780,896
-31,292
| -4% | -$31.1M |
|
|
28
PUT
NVIDIA
NVDA
$5.43T
| $771M | 0.73% |
48,827
-4,442
| -8% | -$559K |
|
29
CALL
Coinbase
COIN
$39.3B
| $741M | 0.7% |
+21,134
| New | +$4.94M |
|
30
Honeywell
HON
$74.6B
| $731M | 0.69% |
3,328,220
-497,103
| -13% | -$101M |
|
|
31
iShares Core MSCI EAFE ETF
IEFA
$196B
| $705M | 0.67% |
8,449,555
+4,940,406
| +141% | +$392M |
|
32
Canadian Pacific Kansas City
CP
$81.5B
| $649M | 0.62% |
8,188,548
+51,218
| +0.6% | +$3.94M |
|
33
Canadian Natural Resources
CNQ
$98.1B
| $627M | 0.6% |
19,963,129
+3,122,051
| +19% | +$94.6M |
|
34
Agnico Eagle Mines
AEM
$93.8B
| $574M | 0.55% |
4,835,647
+520,253
| +12% | +$60.4M |
|
35
TC Energy
TRP
$66.3B
| $543M | 0.52% |
11,142,806
+883,708
| +9% | +$43.4M |
|
36
BCE
BCE
$21.6B
| $523M | 0.5% |
23,601,890
+1,921,000
| +9% | +$42M |
|
|
WCN
37
Waste Connections
WCN
$41.6B
| $501M | 0.48% |
2,685,322
-116,852
| -4% | -$22.5M |
|
38
Suncor Energy
SU
$74.7B
| $492M | 0.47% |
13,147,816
+5,896,247
| +81% | +$213M |
|
39
Mastercard
MA
$490B
| $489M | 0.47% |
870,733
-44,935
| -5% | -$24.9M |
|
40
PUT
Strategy Inc
MSTR
$37.3B
| $485M | 0.46% |
12,000
+5,000
| +71% | +$1.82M |
|
|
41
PUT
UnitedHealth
UNH
$364B
| $480M | 0.46% |
+15,400
| New | +$5.89M |
|
42
Sun Life Financial
SLF
$44.4B
| $446M | 0.42% |
6,722,256
+1,593,139
| +31% | +$97.7M |
|
43
Home Depot
HD
$342B
| $445M | 0.42% |
1,214,769
-593,600
| -33% | -$215M |
|
44
Telus
TU
$15B
| $435M | 0.41% |
27,082,556
-2,781,713
| -9% | -$43.1M |
|
45
Intel
INTC
$509B
| $425M | 0.4% |
18,980,556
+6,560,431
| +53% | +$136M |
|
46
Cognizant
CTSH
$26.2B
| $405M | 0.38% |
5,184,041
+178,239
| +4% | +$13.7M |
|
47
Equinix
EQIX
$105B
| $396M | 0.38% |
498,331
+104,108
| +26% | +$88.3M |
|
48
Johnson & Johnson
JNJ
$629B
| $391M | 0.37% |
2,558,989
+697,161
| +37% | +$107M |
|
49
Cisco
CSCO
$488B
| $391M | 0.37% |
5,630,797
-494,957
| -8% | -$30.4M |
|
50
Salesforce
CRM
$158B
| $388M | 0.37% |
1,422,569
-762,258
| -35% | -$204M |
|
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.