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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
EAT icon
1851
Brinker International
EAT
$10.2B
$78.1K ﹤0.01%
433
+181
+72% +$28.4K
LIT icon
1852
Global X Lithium & Battery Tech ETF
LIT
$1.6B
$77.8K ﹤0.01%
2,025
-14,733
-88% -$544K
EWZS icon
1853
iShares MSCI Brazil Small-Cap ETF
EWZS
$207M
$77.5K ﹤0.01%
5,841
– –
XHB icon
1854
State Street SPDR S&P Homebuilders ETF
XHB
$1.6B
$77K ﹤0.01%
782
-556
-42% -$52.9K
SCHK icon
1855
Schwab 1000 Index ETF
SCHK
$5.98B
$76.7K ﹤0.01%
2,572
– –
XPEL icon
1856
XPEL
XPEL
$1.35B
$76.6K ﹤0.01%
2,138
+93
+5% +$3.07K
QQQJ icon
1857
Invesco NASDAQ Next Gen 100 ETF
QQQJ
$1.19B
$76.4K ﹤0.01%
2,388
+333
+16% +$9.93K
KYN icon
1858
Kayne Anderson Energy Infrastructure Fund
KYN
$2.5B
$76.3K ﹤0.01%
6,000
– –
ASTLW icon
1859
Algoma Steel Group Warrant
ASTLW
$222K
$76.2K ﹤0.01%
11,032
+10,465
+1,846% +$4.13K
EWU icon
1860
iShares MSCI United Kingdom ETF
EWU
$4.13B
$76.1K ﹤0.01%
1,915
+1,842
+2,523% +$70.8K
GII icon
1861
State Street SPDR S&P Global Infrastructure ETF
GII
$930M
$75.7K ﹤0.01%
1,125
– –
UTHR icon
1862
United Therapeutics
UTHR
$21.9B
$75.6K ﹤0.01%
263
+91
+53% +$27.2K
ELS icon
1863
Equity Lifestyle Properties
ELS
$12.4B
$74.9K ﹤0.01%
1,215
+403
+50% +$25.7K
Z icon
1864
Zillow
Z
$8.08B
$74.9K ﹤0.01%
1,069
+342
+47% +$23K
ITIC
1865
Investors Title Co
ITIC
$530M
$74.6K ﹤0.01%
353
-4
-1% -$897
XBIT icon
1866
XBiotech
XBIT
$75M
$74K ﹤0.01%
25,000
– –
IWC icon
1867
iShares Micro-Cap ETF
IWC
$1.5B
$73.8K ﹤0.01%
578
+5
+0.9% +$578
IBDR icon
1868
iShares iBonds Dec 2026 Term Corporate ETF
IBDR
$3.38B
$73.7K ﹤0.01%
3,041
+884
+41% +$21.4K
NIO icon
1869
NIO
NIO
$11.3B
$73.7K ﹤0.01%
21,509
-3,071
-12% -$11.4K
BMRN icon
1870
BioMarin Pharmaceuticals
BMRN
$13.3B
$73.3K ﹤0.01%
1,333
+365
+38% +$21.5K
SPYD icon
1871
State Street SPDR Portfolio S&P 500 High Dividend ETF
SPYD
$7.78B
$73K ﹤0.01%
1,720
+285
+20% +$12K
MMSI icon
1872
Merit Medical Systems
MMSI
$5.45B
$72.7K ﹤0.01%
778
+42
+6% +$3.98K
CIG icon
1873
CEMIG Preferred Shares
CIG
$5.58B
$71.9K ﹤0.01%
36,698
+4,829
+15% +$8.83K
VUSB icon
1874
Vanguard Ultra-Short Bond ETF
VUSB
$9.34B
$71.7K ﹤0.01%
1,437
– –
ADT icon
1875
ADT
ADT
$5.46B
$71.4K ﹤0.01%
8,453
+58
+0.7% +$475
73 74
75
76 77

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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.