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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 | |
|---|---|---|---|---|---|---|
876
DaVita
DVA
$11.4B
| $7.03M | 0.01% |
49,352
-4,439
| -8% | -$629K |
|
877
CALL
Canadian National Railway
CNI
$77.2B
| $7.02M | 0.01% |
674
+71
| +12% | +$7.22K |
|
878
Aecom
ACM
$8.19B
| $6.95M | 0.01% |
61,621
-15,714
| -20% | -$1.63M |
|
879
EPAM Systems
EPAM
$5.24B
| $6.93M | 0.01% |
39,219
-3,287
| -8% | -$549K |
|
880
Assurant
AIZ
$13.9B
| $6.93M | 0.01% |
35,113
-3,324
| -9% | -$653K |
|
|
NNE
881
CALL
Nano Nuclear Energy
NNE
$1.1B
| $6.83M | 0.01% |
1,981
+1,426
| +257% | +$39.3K |
|
882
AES
AES
$10.5B
| $6.76M | 0.01% |
642,806
-39,156
| -6% | -$419K |
|
883
First Trust Cloud Computing ETF
SKYY
$3.38B
| $6.69M | 0.01% |
55,054
+54
| +0.1% | +$5.9K |
|
884
On Holding
ONON
$10.6B
| $6.67M | 0.01% |
128,222
-48,890
| -28% | -$2.49M |
|
885
Schwab US REIT ETF
SCHH
$11.4B
| $6.6M | 0.01% |
312,068
+27,855
| +10% | +$584K |
|
|
VG
886
PUT
Venture Global Inc
VG
$33.9B
| $6.6M | 0.01% |
+4,233
| New | +$49K |
|
|
SAND
887
DELISTED
Sandstorm Gold
SAND
| $6.58M | 0.01% |
700,097
-322,789
| -32% | -$2.76M |
|
888
Huntington Ingalls Industries
HII
$12.8B
| $6.56M | 0.01% |
27,155
-2,180
| -7% | -$487K |
|
889
Compañía de Minas Buenaventura
BVN
$8.55B
| $6.54M | 0.01% |
398,133
-37,507
| -9% | -$569K |
|
890
Arm
ARM
$298B
| $6.54M | 0.01% |
40,409
+11,523
| +40% | +$1.43M |
|
891
Henry Schein
HSIC
$10B
| $6.49M | 0.01% |
88,853
-360,929
| -80% | -$24.8M |
|
892
PUT
SPDR Gold Trust
GLD
$142B
| $6.46M | 0.01% |
212
+15
| +8% | +$4.54K |
|
893
Graco
GGG
$13.3B
| $6.42M | 0.01% |
74,712
+2,200
| +3% | +$182K |
|
894
Reinsurance Group of America
RGA
$16.4B
| $6.41M | 0.01% |
32,338
-6,152
| -16% | -$1.2M |
|
895
Hamilton Lane
HLNE
$5.91B
| $6.38M | 0.01% |
44,924
+27,088
| +152% | +$4.08M |
|
896
CALL
Rogers Communications
RCI
$19.7B
| $6.36M | 0.01% |
2,145
-147
| -6% | -$3.85K |
|
897
Generac Holdings
GNRC
$12.8B
| $6.35M | 0.01% |
44,334
-4,211
| -9% | -$514K |
|
|
OKLO
898
Oklo
OKLO
$8.64B
| $6.34M | 0.01% |
113,161
+59,477
| +111% | +$2.29M |
|
|
WBA
899
DELISTED
Walgreens Boots Alliance
WBA
| $6.33M | 0.01% |
551,574
-3,030,868
| -85% | -$33.7M |
|
900
Global X US Preferred ETF
PFFD
$2.18B
| $6.31M | 0.01% |
334,995
+334,900
| +352,526% | +$6.24M |
|
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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.