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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 | |
|---|---|---|---|---|---|---|
126
Prologis
PLD
$134B
| $164M | 0.16% |
1,563,783
+606,494
| +63% | +$63.6M |
|
127
Newmont
NEM
$124B
| $163M | 0.16% |
2,771,292
-107,212
| -4% | -$5.72M |
|
128
PUT
Palantir
PLTR
$411B
| $159M | 0.15% |
+11,674
| New | +$1.37M |
|
129
AT&T
T
$166B
| $157M | 0.15% |
5,424,747
-3,430,179
| -39% | -$94.5M |
|
130
TJX Companies
TJX
$169B
| $156M | 0.15% |
1,264,797
+71,314
| +6% | +$9.05M |
|
131
Progressive
PGR
$121B
| $156M | 0.15% |
583,761
-376,047
| -39% | -$103M |
|
132
BP
BP
$111B
| $153M | 0.15% |
5,105,069
-53,418
| -1% | -$1.57M |
|
133
CAE Inc. Common Shares
CAE
$8.9B
| $151M | 0.14% |
5,158,139
-929,511
| -15% | -$23.4M |
|
134
Boston Scientific
BSX
$74.5B
| $151M | 0.14% |
1,404,301
+537,104
| +62% | +$54.3M |
|
135
PUT
Target
TGT
$69.9B
| $150M | 0.14% |
15,208
+4,474
| +42% | +$430K |
|
136
Avis
CAR
$4.93B
| $149M | 0.14% |
880,239
+550,239
| +167% | +$59.3M |
|
|
137
PUT
Amazon
AMZN
$2.88T
| $149M | 0.14% |
6,779
-8,901
| -57% | -$1.76M |
|
138
State Street Financial Select Sector SPDR ETF
XLF
$59.1B
| $148M | 0.14% |
2,832,890
+489,108
| +21% | +$24.2M |
|
139
Gilead Sciences
GILD
$168B
| $143M | 0.14% |
1,287,512
-338,738
| -21% | -$36.1M |
|
140
Automatic Data Processing
ADP
$107B
| $140M | 0.13% |
454,523
-10,216
| -2% | -$3.14M |
|
141
Stryker
SYK
$133B
| $139M | 0.13% |
352,048
-21,990
| -6% | -$8.23M |
|
|
SPR
142
DELISTED
Spirit AeroSystems
SPR
| $139M | 0.13% |
3,643,692
+884,788
| +32% | +$31.8M |
|
143
S&P Global
SPGI
$121B
| $137M | 0.13% |
259,716
+21,993
| +9% | +$11M |
|
|
144
CALL
Microsoft
MSFT
$3.66T
| $137M | 0.13% |
2,750
-250
| -8% | -$109K |
|
|
145
PUT
Microsoft
MSFT
$3.66T
| $137M | 0.13% |
2,750
-4,800
| -64% | -$2.08M |
|
146
Abbott
ABT
$192B
| $136M | 0.13% |
997,089
+537,173
| +117% | +$70.8M |
|
147
IBM
IBM
$222B
| $135M | 0.13% |
459,405
-15,978
| -3% | -$4.12M |
|
148
American Electric Power
AEP
$67.9B
| $132M | 0.13% |
1,269,576
-473,952
| -27% | -$49.3M |
|
149
Fortinet
FTNT
$118B
| $130M | 0.12% |
1,234,333
+609,118
| +97% | +$61.5M |
|
|
SCHW
150
Charles Schwab
SCHW
$189B
| $128M | 0.12% |
1,397,847
-281,594
| -17% | -$23.6M |
|
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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.