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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 | |
|---|---|---|---|---|---|---|
551
WEC Energy
WEC
$35.8B
| $20M | 0.02% |
191,509
+41,092
| +27% | +$4.37M |
|
552
American Water Works
AWK
$27.1B
| $19.8M | 0.02% |
142,649
+46,084
| +48% | +$6.6M |
|
553
Raymond James Financial
RJF
$34.8B
| $19.8M | 0.02% |
129,019
-12,331
| -9% | -$1.77M |
|
554
DTE Energy
DTE
$29B
| $19.8M | 0.02% |
149,371
-58,551
| -28% | -$7.87M |
|
555
Tractor Supply
TSCO
$19B
| $19.8M | 0.02% |
374,936
+137,005
| +58% | +$7.01M |
|
556
Capital Group Growth ETF
CGGR
$25.3B
| $19.8M | 0.02% |
+486,500
| New | +$17.8M |
|
557
PUT
Becton Dickinson
BDX
$50.2B
| $19.6M | 0.02% |
+1,138
| New | +$209K |
|
558
PUT
Micron Technology
MU
$1.07T
| $19.5M | 0.02% |
1,585
-23,122
| -94% | -$2.16M |
|
559
Mettler-Toledo International
MTD
$28.6B
| $19.5M | 0.02% |
16,625
-1,333
| -7% | -$1.49M |
|
560
KeyCorp
KEY
$24.7B
| $19.4M | 0.02% |
1,113,681
+79,377
| +8% | +$1.23M |
|
561
Centene
CNC
$33B
| $19.4M | 0.02% |
357,332
-3,169
| -0.9% | -$186K |
|
562
Dollar Tree
DLTR
$25.1B
| $19.3M | 0.02% |
194,385
-7,686
| -4% | -$663K |
|
563
Domino's
DPZ
$11.7B
| $19.2M | 0.02% |
42,532
+18,174
| +75% | +$8.53M |
|
564
Constellation Brands
STZ
$23.3B
| $19.1M | 0.02% |
117,432
-50,204
| -30% | -$9M |
|
565
CALL
Royal Caribbean
RCL
$82.9B
| $19.1M | 0.02% |
610
+378
| +163% | +$90K |
|
566
United Parks & Resorts
PRKS
$2.07B
| $19.1M | 0.02% |
405,002
| – | – |
|
567
Hudbay
HBM
$11.9B
| $19M | 0.02% |
1,814,964
+95,069
| +6% | +$792K |
|
568
CALL
Snowflake
SNOW
$116B
| $19M | 0.02% |
850
-900
| -51% | -$163K |
|
|
NGD
569
DELISTED
New Gold Inc
NGD
| $19M | 0.02% |
3,841,170
+832,654
| +28% | +$3.42M |
|
|
EXE
570
Expand Energy Corp
EXE
$21.9B
| $19M | 0.02% |
166,385
-9,764
| -6% | -$1.09M |
|
571
Deckers Outdoor
DECK
$12.6B
| $19M | 0.02% |
184,013
+60,845
| +49% | +$6.74M |
|
572
Dover
DOV
$27.8B
| $18.8M | 0.02% |
102,587
-15,006
| -13% | -$2.61M |
|
573
Cboe Global Markets
CBOE
$30.6B
| $18.7M | 0.02% |
80,205
-8,286
| -9% | -$1.84M |
|
574
Ameren
AEE
$30.3B
| $18.7M | 0.02% |
194,663
-83,759
| -30% | -$8.13M |
|
575
Liberty Broadband Class C
LBRDK
$5.19B
| $18.6M | 0.02% |
189,566
+96,666
| +104% | +$8.67M |
|
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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.