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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 | |
|---|---|---|---|---|---|---|
701
CALL
Verizon
VZ
$199B
| $13M | 0.01% |
3,000
-13,000
| -81% | -$563K |
|
|
702
PUT
Verizon
VZ
$199B
| $13M | 0.01% |
3,000
| – | – |
|
703
Sprott Physical Gold
PHYS
$15.8B
| $12.9M | 0.01% |
518,149
+18,633
| +4% | +$468K |
|
704
CRH
CRH
$65.7B
| $12.9M | 0.01% |
140,797
-1,996,385
| -93% | -$182M |
|
705
Essex Property Trust
ESS
$18.4B
| $12.8M | 0.01% |
44,999
-14,492
| -24% | -$4.07M |
|
706
CALL
Deere & Co
DE
$166B
| $12.7M | 0.01% |
250
| – | – |
|
707
iShares International Select Dividend ETF
IDV
$8.53B
| $12.7M | 0.01% |
368,174
+79,230
| +27% | +$2.59M |
|
708
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$814B
| $12.7M | 0.01% |
205
-6,801
| -97% | -$3.89M |
|
709
CALL
BCE
BCE
$21.5B
| $12.6M | 0.01% |
5,698
+3,273
| +135% | +$71.6K |
|
710
Gen Digital
GEN
$17.2B
| $12.6M | 0.01% |
428,324
+112,703
| +36% | +$3.08M |
|
711
Expeditors International
EXPD
$24.1B
| $12.6M | 0.01% |
109,867
+26,746
| +32% | +$2.99M |
|
712
Steel Dynamics
STLD
$37.6B
| $12.5M | 0.01% |
97,484
-10,324
| -10% | -$1.32M |
|
713
Loews
L
$23.1B
| $12.4M | 0.01% |
135,646
-11,281
| -8% | -$990K |
|
714
Kratos Defense & Security Solutions
KTOS
$11.8B
| $12.4M | 0.01% |
267,618
+267,519
| +270,221% | +$9.69M |
|
|
715
PUT
Kratos Defense & Security Solutions
KTOS
$11.8B
| $12.4M | 0.01% |
+2,671
| New | +$96.7K |
|
716
Fortive
FTV
$18.5B
| $12.4M | 0.01% |
237,803
-51,555
| -18% | -$2.7M |
|
717
Camden Property Trust
CPT
$11.1B
| $12.4M | 0.01% |
109,646
+21,722
| +25% | +$2.51M |
|
718
Halliburton
HAL
$27.5B
| $12.3M | 0.01% |
604,063
-53,345
| -8% | -$1.12M |
|
719
iShares US Technology ETF
IYW
$25.8B
| $12.3M | 0.01% |
70,774
+38
| +0.1% | +$5.76K |
|
720
PUT
Scotiabank
BNS
$110B
| $12.2M | 0.01% |
2,213
+951
| +75% | +$48.4K |
|
721
iShares 3-7 Year Treasury Bond ETF
IEI
$17.7B
| $12.2M | 0.01% |
102,483
-1,790,412
| -95% | -$211M |
|
722
Mid-America Apartment Communities
MAA
$15.6B
| $12.2M | 0.01% |
82,137
+25,522
| +45% | +$3.98M |
|
723
State Street Technology Select Sector SPDR ETF
XLK
$125B
| $12.1M | 0.01% |
96,026
-2,216
| -2% | -$246K |
|
724
Invesco
IVZ
$14.2B
| $12M | 0.01% |
759,976
+416,349
| +121% | +$5.98M |
|
725
Deutsche Bank
DB
$71.9B
| $11.9M | 0.01% |
320,704
+48,316
| +18% | +$1.28M |
|
Similar funds
VAM
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.