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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
SPLB icon
1926
State Street SPDR Portfolio Long Term Corporate Bond ETF
SPLB
$1.19B
$58K ﹤0.01%
2,571
– –
REZ icon
1927
iShares Residential and Multisector Real Estate ETF
REZ
$861M
$57.9K ﹤0.01%
704
-71
-9% -$5.85K
VXF icon
1928
Vanguard Extended Market ETF
VXF
$32.3B
$57.8K ﹤0.01%
300
– –
BZAI
1929
PUT
Blaize Holdings
BZAI
$166M
$57.8K ﹤0.01%
194
-660
-77% -$1.62K
SPGP icon
1930
Invesco S&P 500 GARP ETF
SPGP
$2.33B
$57.1K ﹤0.01%
530
– –
WD icon
1931
Walker & Dunlop
WD
$1.45B
$56.8K ﹤0.01%
806
+82
+11% +$5.92K
TTMI icon
1932
TTM Technologies
TTMI
$14.6B
$56.7K ﹤0.01%
+1,390
New +$38.4K
LMND icon
1933
Lemonade
LMND
$4.1B
$56.7K ﹤0.01%
1,296
+146
+13% +$4.87K
MMS icon
1934
Maximus
MMS
$2.94B
$56.5K ﹤0.01%
805
+610
+313% +$42.9K
WOOD icon
1935
iShares Global Timber & Forestry ETF
WOOD
$269M
$56.5K ﹤0.01%
770
– –
VTWO icon
1936
Vanguard Russell 2000 ETF
VTWO
$17.5B
$56.3K ﹤0.01%
645
-685
-52% -$55.7K
SIMO icon
1937
Silicon Motion
SIMO
$8.45B
$56.2K ﹤0.01%
750
-75,400
-99% -$4.28M
DFEB icon
1938
FT Vest US Equity Deep Buffer ETF February
DFEB
$464M
$55.8K ﹤0.01%
1,250
– –
PIO icon
1939
Invesco Global Water ETF
PIO
$278M
$55.2K ﹤0.01%
1,237
+238
+24% +$9.97K
TUA icon
1940
Simplify Short Term Treasury Futures Strategy ETF
TUA
$662M
$55.2K ﹤0.01%
2,506
– –
SITE icon
1941
SiteOne Landscape Supply
SITE
$4.22B
$55.1K ﹤0.01%
456
-26
-5% -$3.07K
AFG icon
1942
American Financial Group
AFG
$12B
$54.3K ﹤0.01%
431
-612
-59% -$76.6K
ALAR
1943
Alarum Technologies
ALAR
$13.4M
$53.4K ﹤0.01%
4,000
-1,475
-27% -$12.3K
SPEU icon
1944
State Street SPDR Portfolio Europe ETF
SPEU
$743M
$53.3K ﹤0.01%
1,100
– –
ARKQ icon
1945
ARK Autonomous Technology & Robotics ETF
ARKQ
$2.09B
$53.1K ﹤0.01%
595
-378
-39% -$28.4K
DRS icon
1946
Leonardo DRS
DRS
$11.9B
$53K ﹤0.01%
+1,140
New +$45.8K
EMHY icon
1947
iShares JPMorgan EM High Yield Bond ETF
EMHY
$639M
$53K ﹤0.01%
1,360
+92
+7% +$3.49K
LCII icon
1948
LCI Industries
LCII
$2.6B
$52.9K ﹤0.01%
580
+27
+5% +$2.3K
HOG icon
1949
Harley-Davidson
HOG
$2.7B
$52.8K ﹤0.01%
2,239
+354
+19% +$8.41K
OPFI icon
1950
OppFi
OPFI
$608M
$52.8K ﹤0.01%
+3,773
New +$42.4K
76 77
78
79 80

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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.