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National Bank of Canada

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
Cap. Flow
-$6.15B
Cap. Flow %
-5.84%
Top 10 Hldgs %
26.91%
Holding
3,275
New
443
Increased
1,132
Reduced
929
Closed
300

Top Buys

Rank Stock Value
1
AAPL icon
Apple
AAPL
+$699M
2
UNH icon
UnitedHealth
UNH
+$618M
3
AMZN icon
Amazon
AMZN
+$433M
4
LLY icon
Eli Lilly
LLY
+$410M
5
IEFA icon
iShares Core MSCI EAFE ETF
IEFA
+$392M

Top Sells

Rank Stock Value
1
NVDA icon
NVIDIA
NVDA
+$845M
2
TSLA icon
Tesla
TSLA
+$639M
3
MSFT icon
Microsoft
MSFT
+$528M
4
AVGO icon
Broadcom
AVGO
+$322M
5
TSM icon
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
PAC icon
1751
Grupo Aeroportuario del Pacifico
PAC
$12.4B
$115K ﹤0.01%
504
-65,474
-99% -$14M
TWLO icon
1752
Twilio
TWLO
$36.2B
$115K ﹤0.01%
927
-83
-8% -$8.82K
IUSB icon
1753
iShares Core Universal USD Bond ETF
IUSB
$43.3B
$115K ﹤0.01%
2,490
– –
NLR icon
1754
VanEck Uranium + Nuclear Energy ETF
NLR
$4.25B
$114K ﹤0.01%
1,030
– –
SPNT icon
1755
SiriusPoint
SPNT
$2.71B
$114K ﹤0.01%
+5,596
New +$103K
EGO icon
1756
PUT
Eldorado Gold
EGO
$10.4B
$114K ﹤0.01%
56
-276
-83% -$5.37K
GLAD icon
1757
Gladstone Capital
GLAD
$449M
$113K ﹤0.01%
4,200
– –
POET icon
1758
POET Technologies
POET
$1.66B
$113K ﹤0.01%
21,802
+5
+0% +$21
USFD icon
1759
US Foods
USFD
$23.7B
$112K ﹤0.01%
1,455
+424
+41% +$30.2K
ZROZ icon
1760
PIMCO 25+ Year Zero Coupon US Treasury Index Exchange-Traded Fund
ZROZ
$1.29B
$112K ﹤0.01%
1,672
– –
PGF icon
1761
Invesco Financial Preferred ETF
PGF
$668M
$111K ﹤0.01%
7,873
– –
ACOG
1762
Alpha Cognition
ACOG
$195M
$111K ﹤0.01%
12,093
+280
+2% +$2.05K
CHWY icon
1763
Chewy
CHWY
$9.13B
$110K ﹤0.01%
2,586
-1,916
-43% -$76.3K
NFGC
1764
New Found Gold
NFGC
$657M
$109K ﹤0.01%
77,225
+11,167
+17% +$14.4K
SOXQ icon
1765
Invesco PHLX Semiconductor ETF
SOXQ
$2.93B
$109K ﹤0.01%
2,500
– –
PLUG icon
1766
Plug Power
PLUG
$3.28B
$109K ﹤0.01%
73,200
-29,800
-29% -$29.7K
BWXT icon
1767
BWX Technologies
BWXT
$15.8B
$109K ﹤0.01%
755
+196
+35% +$22.9K
RXI icon
1768
iShares Global Consumer Discretionary ETF
RXI
$274M
$108K ﹤0.01%
575
– –
CACC icon
1769
Credit Acceptance
CACC
$6.12B
$108K ﹤0.01%
213
+1
+0.5% +$491
EQWL icon
1770
Invesco S&P 100 Equal Weight ETF
EQWL
$2.81B
$108K ﹤0.01%
977
+897
+1,121% +$92.5K
PNR icon
1771
Pentair
PNR
$10.5B
$108K ﹤0.01%
1,050
+306
+41% +$28.6K
WSO icon
1772
Watsco Inc
WSO
$12.8B
$107K ﹤0.01%
243
-1,064
-81% -$494K
BHF icon
1773
Brighthouse Financial
BHF
$3.39B
$107K ﹤0.01%
1,995
+190
+11% +$10.7K
CHX
1774
DELISTED
ChampionX
CHX
$107K ﹤0.01%
4,311
-32
-0.7% -$806
SUI icon
1775
Sun Communities
SUI
$15.1B
$106K ﹤0.01%
837
+197
+31% +$24.4K
69 70
71
72 73

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Two Sigma Investments
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D.E. Shaw & Co
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DZ Bank
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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.